Wednesday, June 20, 2018

Real Estate Tips for Buying Homes on the Water

Living near the water is a dream for most people. It is peaceful and tranquil.  Most often home on the water are away from the city’s utter over population. There is a level of calm that always exists along with a view that is spectacular every time of the day. Living on the water also means more privacy as your house is not blocked by houses stacked one on top of each other.  Water front homes are directly in front of the open water. Which allows you to take part in water-related activities such as swimming, water skiing, fishing, boating, ice skating and more.  Waterfront homes also retain their value better than most other types of real estate.

Often lake homes are more difficult to buy and harder to negotiate than a land-locked property. Here are some tips from professional real estate agents to keep in mind when looking into buying waterfront property.
  1. Finding a Real Estate Agent That Specializes in Waterfront Homes

Many real estate agents do not have the expertise and knowledge it takes to purchase waterfront properties. As a home buyer you should always look for a real estate agent who specializes in lake front property as they would have a better understanding on the pros and cons of different waterfront properties.
  1. Focus on The Property

Don’t just buy a home on the lake to say you have lakefront property.  Many buyers are disappointed on their home once they have moved in when they realize the homes pitfalls.  The basement may leak, the view may not be what you wanted, it can be muddier than you are wanting to deal with or many other issues may exist that you took for granted being focused only on getting a home on the water.
  1. Taking Out a Home Loan/Mortgage

Lake homes are often more pricey than other types of property.  Buyers looking to purchase a home on the water are advised to investigate mortgage preapproval sooner than later.  Lenders often consider the most eligible and credit worthy buyers.  With pricey water front property, it may take longer to work out a loan agreement between the lender and the buyer.  It will be important for the lender to be sure that the buyer has considered the cost of insuring a lake front house as well.
  1. Focus on The Structure of the Home

Properties in front of the water receive more abuse from added elements.  It is suggested that extra measures should be taken to protect the property. For example, using stainless steel locks or storm shutters.  The homes structure should be thoroughly inspected to make sure that there are not signs of any structural damage which could destroy the integrity of the home.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Wednesday, June 6, 2018

For Sale by Owner Vs. Listing by Agent

Let’s say, for example, you’ve done a great job building your nest egg, then you see a lakefront property for sale by owner sign, would you be confident enough to consider buying the property or would you rather buy a home for sale listed by an agent? Many buyers do not consider for sale by owner homes because they prefer working with a real estate agent who can cut through a few red tapes on their behalf.

When you are new to the home buying or selling game, it helps to have professional by your side who will do more than guide you through the process. Having a house for sale listed by an agent has proven beneficial to many homeowners because for starters, a listing agent has connections and they will know where on the countless websites to list your house, how to up-sell it and how to find cheaper ways to advertise the property.

Also, since you can easily underestimate the value of your property, a listing agent can provide an accurate home value based on a complete market analysis for the right listing price. Realtors are pit bulls when it comes to networking, negotiating better sale contract terms, and preparing intricate and often lengthy paperwork on a client’s behalf. They don’t quit until they make a sale and a homeowner is satisfied.

Realtors know how to present your home to buyers to sell it at top dollar.  Most of us don’t have the eye for detail that real estate agents have especially when it comes to staging our homes.  Real estate agents know what should head into storage and what can stay on display.  The way that your home is presented can matter a great deal to the overall asking price you will receive.

Another benefit of having a real estate agent working on your behalf is that they will help negotiate up until the homes closing date.  You may think once the deal is signed and agreed upon it is over however this is not the case.  After the homes inspection has been completed often buyers will come back to the table with issues that they want the seller to take care of before they close on the home.
This aspect of negotiations is best sorted out between realtors.  Buyers often over estimate the cost of repairs that are needed to the home that they are about to purchase.  This often occurs because of the anxiety that is felt when making decisions of this magnitude.  Real estate agents on both sides have experience that will allow them to make a decision that is best for both parties, wrap up negotiations, and close on the home.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Wednesday, May 23, 2018

Spring is Here: It’s Time to Put Your Home Up for Sale

If you’re thinking of putting your home up for sale, now is the time to do it. Spring has always been known as the best time to sell a home because buyers are eagerly looking to make a purchase that allows them to be settled before summer is here. The weather is warm but not hot, people are out and about and are much happier than any other time of year.  This makes it an ideal time for buyers to look for new homes during this time of year. The real estate market is a year-round thing, but spring really sees a lot of movement in terms of interested buyers. Here are a few more reasons why you’ll want to put your home up for sale this spring:

The Newness of Spring Makes Your Home Look Better

A huge reason why you should put your home up for sale in spring is the fact that the warm weather, the green grass and all the flowers are blooming so potential buyers really see the beauty in your home. Spring’s many factors really set up a pretty view of your home that ups the curb appeal and attracts buyers.

The Days are Longer and There Is More Sunlight

Because there’s more sunlight during spring, which means potential buyers have more time to view your home than in winter. You can have home eyeballs look at your home throughout the day and this only increases your chances of selling your home fast!

Closing Corresponds with The End Of The School Year

If you have kids, chances are you want them to close out the school year at their current school. If you sell in the spring, you’ll most likely close right around the time school finishes, which mean no interruption in their school studies. And they’ll be able to start the new school year at a new school.

Tax Returns Lend to Higher Down Payments for First Time Buyers

Spring is usually a time when first-home buyers start looking for home since they’ve just done their taxes and have more money to use for their down payment.
More Buyers Equals Possible Bidding War and Higher Prices
Selling in spring will increase your chances of getting the most bids for you home with the highest prices. There are been plenty of research that shows the first two weeks in May have higher returns on houses than any other time of year.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Thursday, May 10, 2018

Spring is in The Air: What to Look for When Buying a Home

Spring season is house-hunting season. It is time we leave our wintery slumber and decide to get going.  The sun is shining, the ice is melting, and everything appears shiny. If you are considering buying a home during the spring season, know very well what problems tend to show up after a long winter before making that offer.  It is crucial that buyers looking for a new home seek out the assistance of a real estate agent.  A professional realtor assists throughout the buying process in a number of ways including a pre-check for damage prior to the offer and inspection process.  Real estate agents are helpful in spotting common issues that can appear in homes after the spring thaw including:

Water Damage:

When snow melts the running water often can enter into basements, crawlspaces, or cement foundations.  If this occurs, it usually shows up in the form of yellow patches on inside walls or bulging paint patches.  These are not often spotted by excited homebuyers however real estate agents are well trained in finding these smaller issues that can easily be covered during the viewing process.

External:

It is crucial to thoroughly examine the exterior of the home when viewing homes.  Peeling paint, cracks in the siding, and an abundance of mold can be indicators of structural issues throughout the home.

Out of Sight:

Real estate agents will always have homeowners check out the crawlspace, attic, basement, and utility rooms.  These are the areas within a home that often conceal water and mold issues because these areas are often given less care when sellers are getting a home ready to sell.  However, the bones of the home need to be examined.  It is important to take a deep breathe in each of these areas to make sure that you are not catching notes of musty smells that can indicate moisture is getting into the foundation framing and insulation.

Roof Inspection:

Snow, sleet, and rainwater can cause havoc on roofs, especially when shingled with asphalt shingling. Although it may seem just a little silly, a set of binoculars should be used by a real estate agent or home buyer when going for a home viewing.  These can help you get an obvious look at the situation above the gutters. Cracks and curling could indicate the shingles need to be replaced.
Knowing potential trouble spots when buying a home before making an offer, paying for an inspection or worse yet moving in will help to make sure that home buyers make the best buying decision possible.  This is one of the reasons it is so important to use a real estate agent when buying or selling a home.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents, call 734-426-6060 today.

Wednesday, April 25, 2018

7 Ways To Prepare For Buying A Home

If you’re looking into buying a home soon we recommend that you prepare a few things before you make the big purchase. Buying a home is a huge decision and the process can be quite complex especially for first-time homeowners.  It’s best if you can be as prepared as possible with these few things first:
  1. Saving for a Down Payment and Closing Costs

Buying a home isn’t cheap and will take a huge chunk of savings for the down payment. Although many would love to own their own home, not many do because they can’t afford such a large down payment. Ideally, you should have been saving for your home for a couple of years. The good news is that there are a number of different loan options you might qualify for without even having to come up with the usual 20% it takes for a conventional loan. It is important to look at your budget and speak to a professional mortgage broker and real estate agent before starting to look for a home.

  1. Obtain Your Credit Report

In order to get the best loan out there it helps to have a pretty high credit score. This will get you a lower interest rate on your mortgage. You should have between a 670 FICO and a 730 FICO, which is ideal for getting the best interest rates.

  1. Hire a Realtor

The key to finding your home is having a good real estate agent which should be a priority for you when you are first embarking on the journey to owning your first home. Ask family and friends for recommendations or look for local agents in the area you would like to buy a home in.

  1. Consult with a Mortgage Broker

Usually, your real estate agent will recommend you a mortgage broker that they work in conjunction with. But if not, you’ll have to find one that will help you with your loan to buy the home. They’ll get you prequalified for a home and then help you through the entire process.

  1. Research Local Neighborhoods
Doing a bit of research will help you find your dream home which is why you need to narrow down the different neighborhoods you are interested in and see the price range that the houses are going for.

  1. Wants vs Needs
Going out and seeing the actual homes is the fun part but before you go out and do that you’ll need to decide on a list of things you’d like your perfect house to have. This way you’ll be able to search homes that have everything on your list instead of wasting your time looking at every home on the market.

  1. Strategize
Sit down with your realtor and figure out a home buying strategy so that the entire process runs seamlessly. Are you looking for a fixer upper or maybe you’ll want to write contingent offers? Your real estate agent can help you figure this all out so that there will not be any surprises.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Wednesday, April 11, 2018

5 Secrets to Help You Sell Your Home

The main focus for homeowners and realtors alike when selling a home is to get the best offer on the home within the shortage amount of time possible.   Below are five secrets that can help sell your home quickly and with a favorable offer. 
  • Presentation

A home should not be put on the market unless it is 100% presentable, has no pending repairs, is priced appropriately, and is ready for a buyer.  Many times, buyers only take couple of months to buy a home.   The last thing you want to do is put your home on the market before it is ready to sell as many buyers won’t have a proper perception of your home.  They are looking for a home that is ready for them to buy.  Sellers will lose out if they market their home before necessary repairs are done.
  • Priced Right

Another important element is pricing your home correctly for the current market.  A real estate agent can help you determine the worth of your home.   Often homeowners price their homes based on how much they need to make from it instead of how much it’s worth.  If your home is overpriced for the market, it will be harder to find a buyer. If it’s underpriced on the other hand, potential buyers might think there are underlying issues within the home.  Buyers do not want to buy a home that constantly requires repairs and underpricing a home often gives this perception.
  • Curb Appeal Matters

The appearance of your home inside and out matters.  When potential buyers come to view your home, they start making their decision.  It doesn’t matter how big and beautiful your house is, if the yard is unkempt, dust has accumulated, the pool is a mess, and so forth potential buyers will not be attracted to it. You want to get good offers for your home? Make sure it is presentable from the day you put in on the market.
  • Find a Local Real Estate Agent

Find a local real estate agent to assist in the sale of your home.  Find a realtor that will assist you in your ultimate goal; finding a buyer quickly who is willing to offer the best offer.  Talk to local realtors, talk to other homeowners, and determine who the professional is that you need to be working with to sell your home.  It is important to find a realtor that you have determined to be professional and will do a good job for you.  Ask the hard questions.  You are paying for the services that a realtor is providing so be sure to get the return on your investment you are looking for.
  • Cozy and Welcoming
When your home is up for sale it is important to create an environment that is welcoming, easy to show, and comfortable.  Buyers often making their decision based on how they feel within the home.  Create an environment that makes your home easy to show by ensuring all rooms are accessible, that there is no clutter that hinders getting around the home, that the lighting, and smells within the home are all pleasant.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Monday, March 26, 2018

5 Things You Must Do Before Buying a Home

It’s time, you are finally buying a new home! It is one of the most significant financial decisions that you will make in your lifetime. From figuring out which location suits you best, your budget and hiring a realtor, every single decision is so important.  Below we will look over five things all buyers must do before purchasing a home.  Mistakes at any stage in the house buying process can cost you more than time and money; they could cost you the home of your dreams.

Consult with a Trusted Real Estate Agent

Yeah, we know that real estate agents get paid a commission based on the sale and purchase of a home.  Many buyers think that this is a solid reason not to hire a realtor however, we are here to tell you the expense of an agent working on your behalf is nothing in comparison to the price you will pay for the mistakes you make on your own.
It is important to remember that a realtor is paid their commission by the seller and not the buyer.  Your real estate agent will make commission off the sale price of the home that is paid for by the homes seller.  The buyer will not be responsible for any of this expense.  Buyers agents will secure your interest in the home and guide you through the purchasing process from the first visit to the last signature.  Having the support of a real estate is a solid investment for any buyer looking to purchase a home.

House Affordability and Mortgage Pre-Approval

Most buyers think of a pre-approval as the point at which they must buy a home however, this is not the case.  A pre-approval is the amount that a lender is comfortable lending you however does not mean that this is where you need to start with your home budget.  It just means that they think at this threshold you could make the payments on the home.    If you decided to purchase a home of a lesser value it would mean that you would have more money in your pocket each month to save, spend on modifications, and such.  It is important to look at homes that meet your need while being realistic on the amount you are interested in paying out monthly for mortgage expense.

Negotiate

You can do it yourself or your real estate agent can also do this on your behalf. It is advisable to ask your realtor about it. They not only have ample experience in the field, but they also can focus on your recommendations for the deal to be outstanding. In general, for your better decision, and as a result, to feel in control and command – you should go through good negotiation skills.

Take Your Time Looking for A Home

Never believe or work according to someone else's timeline and don't make commitments that will make things challenging if your property hunt takes a few months longer than you thought about it. If you are on rent, then it’s better to stay on a month-to-month agreement so that you would be able to move without penalty or charges.
A Buying Agreement Is a MUST
Keep in mind that buying a house includes an agreement. When you are purchasing a house, there are papers to sign. A significant number of those papers, just contracts, need to be well-arranged. In the event, that you need more opportunity to survey your investigation, or want to buy a home loan, then all of this can be made a part of the deal. That is the place a clever real estate broker can help.
Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.