Date Archives: October 2016

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October
21

October is one of the better months to buy, or sell. Homebuyers, according to RealtyTrac®, tend to get the best deals in October, based on an analysis of more than 30 million single-family home and condominium sales that happened over the last 15 years—of the 2.7 million sales closed in October over that period, the average sale price was 2.6 percent below average estimated full market value. Why the downtrend? One of the main causes is lesser demand, which results in lower prices. Another cause could be the presence of "spring leftovers"—the homes that didn't sell in the spring or summer placed back on the market, at a reduced price, in fall. Historically, fall has been an ideal season for homebuyers—it lacks the pace of peak real estate season, which can be intimidating (especially to newcomers), and it offers time to buy between the frenetic start of the school year and the holidays. The beginning of school, as well, means that fewer homebuyers will be out searching for homes, lessening the competition for other buyers, and bidding wars, as a result. Still, fall can be ideal for those on the other side of the closing table—sellers. Sellers in the fall generally attract more serious buyers than at other times of year, upping the chance they'll get a well-intentioned offer. They also could be on a faster path to closing, as well, because fall is outside of peak season—some buyers, then, may have a pressing reason to buy. October, specifically, is also ideal for both parties in that appliances go on sale—manufacturers deeply discount previous years' models to make way for the next years' hitting the shelves. How about that for incentive? Whether it's spring, summer, fall or winter, I'm prepared to help you with your real estate needs. Contact us today! Published with permission from RISMedia.
October
14

Buyers are so hyper-focused on the home that they often cast aside surroundings. "Surroundings" do not equal trees, fences or landscape. The home's surroundings are the houses around the home and the residents occupying them. Surroundings also include the neighborhood, the passersby and the city. Surroundings are the home's location and it bears equal importance. Here's why location is essential to any future real estate decision. Safety Is the perfect home near a busy driving area consisting of drug houses, screaming kids and problematic neighbors? If so, stop reading; plenty of communities exist for you. For the rest of us, this isn't an ideal neighborhood. Pay extra for a safer neighborhood. They're packed with stores, shops, restaurants, and banks nearby; a rarely noisy community is surely waiting for you. Along with research, visit the location at night for accurate answers. Distance The distance from point A to point B is so important. A long commute burns more gas and wastes more time than necessary. Therefore, learn the miles and minutes it takes to travel from the home to the following: work, school, store, hospitals and favorite hangouts. Buyers without cars must live in communities with public transportation access. A community containing local amenities close by is valuable to buyers. Besides, no one will travel great distances for any destination. The Best Schools Distance isn't the only factor in the best school search. The reputation, the quality and the district are additional factors in finding a good school. Homes surrounding good schools are in high demand. Determine good schools by searching online reviews of schools and reading two or three sites. Since good and bad reviews naturally exist, develop a consensus. Some real estate listings include online reviews of surrounding schools. Single or married, family or not, a good school system is important for your home's value. Monetary Value When buyers buy a home, they purchase the location too. A home priced in a good neighborhood makes it more valuable than one in a poor neighborhood. In addition to the home, they purchase a safe community, nearby local amenities, and the personalities in surrounding houses. Because neighborhoods rarely change, the home remains lucrative to future buyers at sale. Forgoing location and surroundings means living in the perfect house and fearing the outside. If you can't enjoy the surroundings, no perfect home is worth the price tag. Location, location, location–real estate companies may stress this a lot. Just make sure to seek professional help and find the best possible neighborhood for you. This post was originally published on RISMedia's blog, Housecall. Check the blog daily for top real estate tips and trends.

Reprinted with permission from RISMedia. ©2016. All rights reserved.

By Kara Masterson
October
7

The process of buying a new home is stressful, even if you've already done it before. Looking at properties, researching areas, processing paperwork, etc., can all take a toll on your schedule and daily life. With all this going on, the last thing you should have to worry about is saving money when it actually comes time to buy the property. Use the following five tips for saving money on your next new home:   Always Use a Real Estate Agent One of the biggest mistakes people make is trying to purchase a home without a licensed real estate agent. Not only can an agent help with paperwork, but they'll also know how to negotiate the price using fair market value, the actual condition of the home and other various factors. Try Not to Pay PMI Also known as private mortgage insurance, this is tacked on to your monthly payment if you buy a home with less than 20 percent. Some lenders will still offer standard mortgages with smaller down payments, but they're increasingly hard to find. Save money by trying to save at least 20 percent for your home, or purchase a home that fits into a slightly smaller budget. Reduce Your Property Taxes This is a very popular and often effective way to save money on a new home. If you think the assessed value of your home is too high, ask for a review. A different assessor will come out, perform an inspection and make any adjustments, if necessary. While this doesn't always work, it's worth a shot if you want to save as much money as possible. Find Better Insurance Rates Similar to auto insurance and health insurance, monthly property insurance premiums vary depending on the company that underwrites the policy. Spend time shopping around to different insurance companies until you find the one that offers an affordable rate that sufficiently covers your property. Make Additional Monthly Payments If your mortgage payment is low enough where you can consistently pay more each month, doing so could save you tens of thousands of dollars over the course of the mortgage and reduce the number of months you'll need to pay. There are a variety of methods consumers can use to save money, both upfront and during the course of their mortgage. To avoid financial issues in the future, always purchase a home that is within your set price range and never buy a home with zero money down; doing so will make it much harder for you to borrow against the property in the future. This post was originally published on RISMedia's blog, Housecall. Check the blog daily for top real estate tips and trends

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