Insight Into The 2017 Real Estate Market

Will you be shopping for a new home in 2017?  Below is some insight into the real estate market and what home buyers can expect as they begin their hunt for either a new home or their first home.

The real estate market has been affected due to the election that recently occurred.  Interest rates on home loans and refinancing have risen point fifty percent over the past two months.  Even with this increase the housing market on a whole remains strong.  It is important to consider that the market could see a rise in real estate markets under this new leadership.  The prospect of higher interest rates and increased real estate costs may create a sense of urgency amongst buyers going into the spring season.

The traditional timing of first time buyers is changing.  People are no longer waiting until they are married to look into homeownership.  More single people are choosing to purchase homes than ever before.  The 2017 real estate market will see more and more home buyers that are single verse real estate trends of the past in which typically home buyers were married couples.

Those seeking investment properties most often have the same goal, price appreciation.  If the goal for 2017 is to acquire additional properties as investments look where home values are set to increase the most.  For almost all areas larger price increases can be seen on property within larger metropolitan areas.  Not only property values increase either.  The amount of rent that can be charged is significantly higher than the rural area surrounding the metropolis.

It is critical that first time home buyers concern themselves with more than just the initial down payment.  The costs of obtaining a mortgage are additional to the actual down payment on a home.  A home costing $150,000 could require a twenty percent down payment and two percent closing costs.  Thus the amount due at closing would be $30,000 for the down payment and upwards of $3000 for the closing fees.

It is also important for first time home buyers to have a nest egg of funds put aside for unexpected emergencies that can arise with homeownership.  Inspections are not a hundred percent failure proof.  Sometimes there are things that aren’t noticed until you are living in the home.   Maybe the water backs up when you are running the dishwasher and washing machine.   This may not be something caught during the inspection process. The nature of the issue is not something that is common for home inspectors to look into during the home inspection process.  These small issues can add to the financial pinch of a new mortgage and should be planned for ahead of time.  The last thing new homeowners want to do is to put debt on to credit cards.  A cash emergency fund is the best way to handle the unforeseen.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Benefits of Buying Verse Renting

There comes a time when buying a home becomes more practical then continuing to rent.  Right now the market is at a point where renting is actually more expensive monthly than buying.  Renting has a few benefits that buying doesn’t but instead that if you are interested in buying a home now is a great time to enter the market.  Here are five questions to ask yourself when narrowing down your homeownership goals:

• What type of home situation best meets your needs?

There are a variety of residential home styles to choose from when you are looking to purchase. Consider all of your options including: traditional style single family homes, duplexes, townhouses, condominiums, co-op’s and multi-family buildings.  There are pros and cons of each and depending on your homeownership goals at the moment will help establish the style of home you should focus on finding.

• What are must have features you are looking to have in a home?

When buying a home there are certain features that are must-haves, some that would be nice and some that are downright unnecessary but would be a dream.  Create your own list and make sure that it offers a bit of flexibility.  You deserve a home that offers you exactly what you want!

• What type of mortgages do you qualify for?

Before you hire a realtor meet with a mortgage broker to determine how much you can pre-qualify for and what types of mortgage options are available for your current situation.  Knowing how much a lender will lend will give you a starting point on the price range of homes you should be focusing in on.  Before you begin searching for a mortgage or home get your personal finances in order.  Make sure your credit is in order, you have a solid history of paying your bills on time, substantial savings and a maximum debt to income ratio of no more than thirty six to forty three percent.

• What amount can you afford to take on monthly?

Another thing to consider after finding out how much a lender will lend is how much you actually feel comfortable paying each month.  Consider the amount of the mortgage, interest, insurance along with utilities and other monthly bills you have.  You will want to be comfortable with the amount that you will be spending each month.  The last thing you want is to be house poor without any money to spare each month.

• What does your savings account look like?

In order to purchase a home it is important to have a down payment, closing costs and money for the incidentals that will arise after you move in.  Take time to build up a substantial savings before you get serious about looking to find a home of your dreams.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Helpful Tips For Buying Your First Home

Purchasing your first home comes with many trials and tribulations.  In the first year after closing there are many valuable lessons to be learned.  Here are some things to think about as you begin the process of going from renting to buying.

Think About The Future:  When buying your first home it is easy to get caught up.  At the time you can’t imagine that you will ever need to sell this home you are about to start building your future in.  This however can’t be further than the truth.  The truth is the first home you purchase will most likely not be the last one you purchase.  No matter where you are at or what stage you are at it is important that you take into consideration how difficult it will be to eventually sell when you are ready for the next step.

Checklist:  When you are purchasing your first home, second or third, you will find it is quiet an emotional process.  It is quite possible to overlook things when your emotions start to take over.  Before starting your adventure into buying your first home create a checklist of must-haves, nice-to-haves and other essentials.  Print the list and take a copy with you to each and every house you visit.    Also bring with you a camera.  If you fall in love with a home but with your checklist and photos show that the house doesn’t have any of the must-haves then at least it will make you rethink the purchase?

Budget For Housing Expenses:  When considering what you can don’t just consider the principal, interest, taxes and insurance.  You must take into account the amount you will spend on utilities, home improvement upgrades and costs to commute.  Can you afford the house, the extra expenses while living the life style you have become accustomed to?

Look Into The Neighborhood:  Check out the neighborhood.  Is it a neighborhood that is full of children and growing families?  Do you enjoy the chitter-chatter of kids or will it drive you crazy?  Is the neighborhood full of older adults whose families have grown?  Did you plan on having kids?  Will the lifestyle you are considering for your future fit within the existing neighborhood?

Look Beyond The Staging: We all think we are smart enough that we will not fall for the tricks that are used in staging however the psychology of staging works.  Homes look better when they are occupied.  When you are truly looking to say yes to a home it is important to remove the staging setup from your mind and consider your belongings in the layout of the home. Just because lights are sitting on the nightstands doesn’t mean that there are plugs there to go with it.  Staging can play games with your emotions.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Tips For First Time Home Buyers

It is important for both buyers and sellers to keep up with the latest trends in home improvements.  What was popular a year ago, let alone ten years ago may drastically change the way a home is viewed within the game of real estate.  Really think about the trends that were present in homes we were raised in verse what is popular now.

Shag carpeting, colored appliances, laminate flooring, formica countertops and gold fixtures were all the rage and a house with all five of these hot button trends would fly off the market.  Try to sell that same house now and it would sit forever waiting for the right buyer to come along only after the seller had dropped the asking price significantly.  This is just one of the many reasons it is important to keep up on the trends present within the home improvement and real estate arenas.

Trendy Kitchen Ideas

In real estate the kitchen is arguably the most important room within a home.  In order to get top dollar from the sale of your home it is important to keep up on popular upgrades to the space.  The following are just a few things that are trending in kitchen designs and upgrades for 2016:

• Kitchen islands with additional work space and seating.
• Dark cabinetry that are enhanced with other materials such as glass and metal.
• Uncommon countertop materials like exotic stones, hand poured cement or granite.
• Wine coolers that are built in.
• Stainless steel, top of the line appliances that include all the bells and whistles.
• Double ovens, convection ovens and unconventional, six burner stove tops are incredibly trend with the increased popularity in preparing culinary delights at home.

Trending Designs For Bathrooms

• Glass and stone are both popular material choices in bathroom updates in 2016. Consider a blend of natural, raw materials when upgrading bathroom spaces.
• Vessel sinks, paired with antique inspired vanities are offering a classically, modern spin on creating a retreat in your very own home.
• Chrome fixtures are being replaced for brushed nickel.
• Showers are a more popular option then bathtubs. Deck out your extended shower space with multiple faucets, dual showerheads and hand held sprayers.  Upgraded fixtures and faucets are attractive to homeowners that are ready to move into a space without any DIY updates to contend with.
• Another popular feature in bathrooms to consider in upgrades is the installation of automatic lighting.

Trends in home improvements aren’t anything new.  It is important to follow up with trends in the housing market especially if you are a seller looking to sell your homewithin the next five years.  You can never go wrong in home improvement with simple, classic updates enhanced with easily replaceable accessories that follow trends.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Hot Trends When Purchasing a Home In 2016

In real estate the kitchen is arguably the most important room within a home.  In order to get top dollar from the sale of your home it is important to keep up on popular upgrades to the space.  The following are just a few things that are trending in kitchen designs and upgrades for 2016: 

• Kitchen islands with additional work space and seating.
• Dark cabinetry that are enhanced with other materials such as glass and metal.
• Uncommon countertop materials like exotic stones, hand poured cement or granite.
• Wine coolers that are built in.
• Stainless steel, top of the line appliances that include all the bells and whistles.
• Double ovens, convection ovens and unconventional, six burner stove tops are incredibly trend with the increased popularity in preparing culinary delights at home.

Trending Designs For Bathrooms

• Glass and stone are both popular material choices in bathroom updates in 2016. Consider a blend of natural, raw materials when upgrading bathroom spaces.
• Vessel sinks, paired with antique inspired vanities are offering a classically, modern spin on creating a retreat in your very own home.
• Chrome fixtures are being replaced for brushed nickel.
• Showers are a more popular option then bathtubs. Deck out your extended shower space with multiple faucets, dual showerheads and hand held sprayers.  Upgraded fixtures and faucets are attractive to homeowners that are ready to move into a space without any DIY updates to contend with.
• Another popular feature in bathrooms to consider in upgrades is the installation of automatic lighting.

Trends in home improvements aren't anything new.  It is important to follow up with trends in the housing market especially if you are a seller looking to sell your home within the next five years.  You can never go wrong in home improvement with simple, classic updates enhanced with easily replaceable accessories that follow trends.

Attracting Home Buyers During The Hot Fall Real Estate Season

Autumn is literally right around the corner.  The kids are back in school, the weather is becoming a bit more bearable and there is downtime between summer vacations and the holidays.  There is no doubt why fall is the second best season in real estate especially when it comes to selling your home.  Not only do the colors start to explode amongst the trees, for sale signs also start to reappear.  Below you will find some of our top tips to help sellers attract autumn home buyers.

Shape Up the Landscape

In order to attract buyers a home must appear well maintained inside and out.  Make sure to take time to rake up fallen leaves and clean debris before it settles.  Overgrown vegetation should be trimmed including small bushes and large trees around the home.  Dead flowers should be cut down and prepared for next spring and vine growth should be eliminated to enhance the exterior of your home.

Create an Autumn Atmosphere

Curb appeal is everything when it comes to selling your home for top dollar.  One way to enhance the feeling of warmth and fall is add a little bit of it to your home.  Take advantage of the beauty that comes from all things fall like corn stalks, pumpkins and mums.  Accent walkways and entrances to add to the fall appeal.

Window Washing

Everyone considers spring cleaning however the momentum often dies going into the fall season.  When looking to sell your home during the fall real estate season it is beneficial to thoroughly was dusty, streaked windows.   Clean off pet prints and wipe down window ledges.  The little details may not get noticed when they are on point but if they are left uncared for you can guarantee that buyers will take note.

HVAC Maintenance

Just as homeowners take time to have central air conditioning system evaluated at the beginning of the spring season, heating systems should be checked as well at the beginning of fall.  You will want your home to smell clean and dust free.  A dirty heating system says a lot about your home that you don’t want it to.  Replace furnace filters, have vents cleaned and do the yearly maintenance that needs to be done to ensure your system is running efficiently and clean.

Prepare Fall Edibles

The scent of fall is quiet attractive and should be used to your advantage during open houses and home visits.  Fresh apple cider smells, pumpkin spice cupcakes or leaf cut out cookies left out on the counter are all ways to welcome guests into your home.  People looking to purchase a home want it to be warm, cozy and inviting.  Make sure that appeal is what they feel when they first arrive.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Home Buying and Selling in 2016

When it comes to selling a house in today’s market many sellers are in for a culture shock.  Today’s buyers are different than they were five years ago.  Buyers are demanding.  In this technology savvy world we live in buyers want to see homes when their schedule permits.  It is no longer about the seller and creating the perfect ambiance for selling a home; today’s buyers want convenience and they aren’t about to wait for an open house to get what they want.  Long gone are the days of baking cookies and creating the perfect, warm home introduction.

When you decide to sell your home the first step that you should make is to call in a trusted professional.  Real estate agents help to eliminate the emotional aspect of the transaction.  This greatly improves the chance of a quick sale.  Below is a sample action plan that most realtors will use when working with you to sell your home.

One debate that exists is if a seller should buy a new home before they have sold theirs.  Is it necessary to carry two mortgages?  The answer is no.  Sell your home before you buy a new one.  A few scenarios’ can play out all of which are better than paying two mortgages.  Many buyers are willing to work with a seller if they need additional time in the home by renting it back to the seller for a few months while they find a new home.  Another option that is common is a short term rental.  The one thing you are looking to avoid is buying a home contingent on the sale of yours especially in a market where you are up against other bidders.

No longer are the good ole days of throwing a for sale sign in the yard and calling it a day.  Homes don’t get sold unless they are properly marketed.  Buyers are looking for photos, videos, floor plans, staging ideas and more.  They are looking at homes online and through social media.  Long gone are the days of Sunday drive by’s where buyers are deciding which homes to look at.  If they don’t see what they want to out of the online marketing campaign you and your realtor have set up then you won’t have to worry about setting up a time for them to see the house in person.

Selling a home today requires buyers to have immediate access to have their questions answered immediately.  Without a solid internet presence and marketing plan in place your home will sit stale on the market for months waiting for those far and few between drive-by buyers.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Avoiding The Challenges That Come With Selling Your Home

It can be a challenge to sell your home.  This is especially true in a market saturated with homes for sale.  When buyers have lots of options available to them they don’t have to buy what you are selling.  If your home is just one of a million available on the market today it is crucial that you aren’t sloppy when putting it up for sale.

Don’t price your home out of the market:  You know what you paid for your home when you bought it and you know what you have invested into but that doesn’t mean you know how much it should sell for.  Your house is not worth a penny more than what the market is willing to purchase it for.  The market may have gone up or it may have gone down since you initially purchased your home.  When setting an asking price for your home it is important that you don’t overprice your home.  A home that has a high asking price may discourage parties that are interested in making an offer.  Your goal is to sell your home not show it for six months.  Take into consideration homes that are comparable to yours and be willing to set an asking price that is equivalent.

Don’t go it alone: There are a number of mistakes that can be made in any real estate transaction.  Without the proper understanding of exactly what is entailed in selling your home it is wise to hire a professional realtor to guide you through the process.  Working with a local real estate agent is helpful in a number of ways.  First, they are familiar with the local area, the selling price of similar homes in the area and know a reasonable offer when it is given. They have experience on counter offers and can help you negotiate a contract that is fair and appropriate for the market you are in.

Another benefit of using a real estate agent when selling your home is the additional marketing tools and connections that have available to them.  Selling your home in a competitive market is much more than just sticking a sign in the yard and watching buyers come pouring in.  Today real estate is all about marketing.  Your home needs to be on the internet throughout social media, video tours and public open house advertisements with additional pictures of the home.  Sellers can no longer get by on putting a sign in the yard, word of mouth and drive-by’s.

The process of selling your home can be emotional.  A real estate agent can help you through the sentimental aspect while understanding the business side.  With the right price and proper marketing your home has the potential to have a number of buyers interested before it is even officially listed by the real estate agent.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Don’t Fall For Staging Tricks When Buying A New Home

In our last installment on buying a home we discussed how many buyers turn down a house if it lacks visual appeal.  Instead of only looking at a home for its aesthetic values it is crucial that homeowners look deeper into the bones of a home.  The condition of homes foundation and structure are the most important aspects to consider.  The following aspects can also tell you a lot about how the homes you are looking at have been maintained and cared for.

How does the plumbing throughout the home look?  Check out the water and the pressure of the water pressure.  Turn on all of the faucets all at one time and check to see their output.  Inspect the pipes to ensure they are not lead while also looking at the current insulation.  Pipes can easily be insulated using preformed insulation but it is important to know what will need to be done ahead of time.  Pipes that are in crawl spaces must be insulated as well as plumbing that is on the other side of exterior walls, often seen in kitchens.  Check the hot water heater and tank, boiler and radiator.  These are all good indicators of the updates that have or have not been done to the homes plumbing.

How well insulated is the home.  When you are inside the home is the traffic easily heard throughout the home?  Can you hear a lot of outside noise such as children playing?  This may not seem like a big deal at the time but poor insulation is not all about the annoyance of extra outside noise.  If a home is not properly insulated against the sounds of the world around it then it most likely is not apt to hold in heat or air conditioning.

Realtors advise buyers to check out the homes attic space as well.  Check for fire and water damage as both can lead to a structure that is weakened.   If you can see any light from within the attic, through even pin hole sized points it is crucial to make note of these.  If you purchase the home these areas need to be caulked to prevent water from accessing the area and leaking into the home causing damage to ceilings.  Is the attic easy to access?  Can the space be turned into something usable like an office or spare bedroom?  What about storage or extra insulation?

There is so much more to a home than what buyers can see however this is a hard concept for realtors to get across to a visual buyer.  A home that is painted with wickedly wild colors and covered in crazy bright carpet is a whole lot cheaper to repair than a home with a faulty foundation or unstable roof.  Remember this as it is easy to become caught up in the way something looks.  Professionals in staging can turn a home that hasn’t been maintained into a beauty with a few tricks of the trade. Don’t fall prey to this.  Instead keep your eyes open and look for things we have mentioned in these latest installments.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Don’t Get Caught Up In Curb Appeal When Purchasing A New Home

When it comes to purchasing a new home many buyers get caught up in the visual aspects of the home.  This is a mistake that often hurts buyers.  Instead of seeing the potential in a home they are driven off by brightly colored walls or unconventional flooring.  In reality these aspects are easily changed.  Instead staging often fools buyers and they forget that beauty is only skin deep allowing them to forget about the costly realities like roofing, electricity, plumbing and foundation.

Real estate professionals often warn clients from making mistakes like this but fall on deaf ears.  To prevent the same mistake from happening to you consider the following when considering a home to purchase.  Even the ugliest of ducklings can have the makings of a castle given the shape of the homes foundation, roofing and a fundamentally strong structure.

Consider the shape of the homes windows.  Realtors stress that it is important for buyers to look at the external state of the windows over their age.  New windows that are installed incorrectly are far less attractive as older, sturdier windows that have been well maintained.  If the exterior of the windows are in good shape it is a great indicator of the condition and level of maintenance that the current homeowner showed the home.  If you push on the window and can easily push the window frame in at all then it means the windows are starting to rot.  If the windows are double hung and you can visually see any sort of condensation the windows are faulty.

The roof is also an important aspect when looking into purchasing a home.  An asphalt shingle roof has a life expectancy of between fifteen and twenty years.  If you are unsure of when the roof was last replaced it is best to have a professional roofer out to inspect any homes you are interested in.  A professional roofer will know what to look for to age a home roof.  Certain things buyers can see themselves such as if the roof has a bunch of missing shingles or if there is substantial curling that can be seen on the shingles.  These are all signs the roof will need to be immediately replaced.  If this is the case be sure to negotiate the expense of a new roof into the purchase price of the home.

Another item a buyer often over look is the homes electrical system and power sources.  Electrical wiring that is not done by a professional electrician leaves a lot of room for error.  Improperly ran electrical wiring is dangerous.  Check out the shape of the fuse box and test the circuit breaker to ensure that it is functioning properly.  Rewiring a home is a messy and expensive job to undertake.  It is often a job that new homeowners are not looking to involve themselves in.

In our next installment we will continue to look into the items often overlooked by buyers as they concentrate on the less important visual aspects of a home.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Time and Patience Needed When Buying A New Home

The entire process of buying a home takes time and patience.  Home buyers are excited and often times a bit overenthusiastic to get into the home of their dreams.  This fanatical excitement can often leave home buyers to sabotage their real estate agents efforts at getting their client a home of their dreams.  When working with a realtor here are some things to be aware of to ensure a smooth home buying process.  Creating a relationship of mutual understanding between realtor and client is essential for buyers to get the home of their dreams.

Are You Guilty of Sabotaging Your New Home Dreams?

One mistake many buyers make is that they care too much about the homes aesthetics.  Professional real estate agents are happy to show you just as many houses as desire until you find the one that is perfect for you.  The problem is that many buyers can only see the beauty as it is and forget that the splendor of any home is more than meets the eye.  Initially, it may be tempting to get caught up in how the house currently looks however a house that is out of date, dirty or in need of some small handyman repairs buyers are often tempted to run and continue their search elsewhere.

Buyers should consider this instead:

The cost of improvements that need to be done to the home can be negotiated into the closing deal.  It can even be set up that the minor fixes that you would like to see done can be included in the details of the contract.

Another common mistake is that buyers often show their hand and give away any ability to negotiate.  Your comfort with your real estate agent is crucial however don’t let it get in the way of making the best deal possible with the seller.  It has happened before; many buyers start talking a bit too much when looking at homes and sellers overhear their criticisms.  When this occurs it could hurt the entire negotiation process.

When you find the home you love don’t make the mistake of waiting too long to put an offer on the table.  In a competitive real estate market there isn’t a lot of time to wait to make an offer.   Nothing drives a real estate agent nuttier than knowing they have found their buyer the perfect home and yet they aren’t ready to commit.  If you find a home you are in love with put an offer in, get the negotiation process started and begin planning for your future.

Don’t make the mistake of thinking that buying a home is all about money.  Yes a large offer looks appealing but a lower offer with few contingencies and the perfect timing can appear even more tempting.

It is important to listen to your real estate agent throughout the entire process.  When you discuss with them what you want and need they are listening to you.  They are the professionals and this is what you are paying them for.  Be sure to put your faith in them, take to heart their advice and allow them to guide you down the path to homeownership.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Quick and Easy Home Buying Checklist

If you are seriously considering a house to purchase take time to really look into it before making an offer or hiring a home inspector.  Many buyers don’t take the time necessary to look into a home’s they are seriously considering spending many years in.   A quick twenty minute once over is not going to suffice when really considering a home.

Make a checklist when working with a realtor.  A home without any potential can instantly be pulled from the list.  Homes that deserve consideration should be gone through using the check list below.  This list alone can save home buyers a ton of time and money.   This will help to ensure you aren’t paying for professional home inspections on homes that aren’t truly worth your time or money.

Checklist for New Home Buyers

Inspect the home for dampness:  Dampness can occur in a home for many reasons.  Some are easier to locate and fix than others.  A damp, moldy smell or flaking plaster may be coming from a small, easily repaired leak in the attic however it could also be coming from the place of a deeper more expensive issue.  It is best to find the reason the home is damp and evaluate it for yourself before putting an odder in on a home that exhibits any signs of moisture.

Examine the homes structural soundness: Look for cracks in the structure.  These may be small hairline cracks or larger fissures.  Check areas of stress such as window bays, extension joints and areas of the home where the structure can fall or bow away from the homes structure.  If you see serious issues understand that these repairs are costly and bringing in structural inspectors will cost you major money upfront for evaluation purposes only.  It may not be worth falling in love with a home that exhibits structural issues.

Check out storage space: Storage is a make or break deal for many homeowners.  Small issues such as where the trash will live or the vacuum cleaner will be stored are minor issues.  However, don’t overlook the need to store gardening supplies, holiday decorations, bikes, boats and more.  Check to see if cupboards or shelves can be installed to increase the amount of convenient and available storage space within the home.

Look into size of individual rooms: Measure each room to determine the exact size of the space.  Staging can be pretty tricky.  Designers take smaller scaled furniture and bring it in to enhance the spaciousness of smaller rooms. Be aware of this practice and don’t fall victim to it.  Measure the space and visually layout the size of your furniture or appliances in the room.  This will give you a more accurate way of determining if the space will fit your current belongings.

In our next installment on things buyers should overlook when buying a home we will examine further tricks involved in staging and how to spot issues when homes have had fresh flooring and paint updates.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Buying and Selling During The Spring Season

Spring time in the north is one of the greatest times.  The landscapes are turning from brown to green, color is coming back to the skies, softball starts and home buyers eagerly start to look for a home to purchase.   There is no doubt about it; spring is the most popular real estate season.  No matter if you are looking to purchase or sell a home now is the perfect time to forge full speed ahead.  Below are some tips to assist buyers as they look to gain insight into the spring real estate market.

First things first:  Talk with a Mortgage Broker

Before you even begin to look at homes are meet with a real estate agent talk with a mortgage broker.  You must be able to secure a home loan to buy a home.  Sellers are looking for buyers who are preapproved.   Sellers do not want to waste time accepting offers from buyers who will not be able to secure a mortgage.  A pre-approval is valuable because it shows that the buyer will be able to obtain a home loan as well as a point of reference on how much the buyer can afford.  A pre-approval means that you are a serious buyer.  If a seller needs to choose who to enter into a contract with they will always go with the buyer that has already secured financial backing in the form of a pre-approval.

Secondly: Choose a Real Estate Agent

Finding a real estate agent is the next step in looking to purchase a home in the spring.   Get referrals from family, friends and individuals who have recently purchased a home.  After you get several names and numbers start by calling their office to schedule an appointment to meet to discuss what you are looking for, how much you have to spend and the needs verse the wants in the home you are looking to purchase.

It is critical when interviewing real estate agents you find someone that is not only experienced in local real estate but also one that is available to communicate with you in a productive manner.  Buying a home is the biggest financial decision in your life; you will want a partner to help you find a home that is in it for you and not just for the commission.

Check out the Neighborhood

Take time to look into neighborhoods that your real estate agent thinks best fit what you are looking for.  Drive by the area, check out the schools and such before ever stepping foot into a home.  Find several locations that you are interested in to help narrow down the search.  The last thing you want to do is spend day after day walking through home after home especially in areas that are of little appeal to you.  If you don’t love the neighborhood falling in love with the house does very little in getting you to the finish line and purchasing a home.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Tips From Realtors To Improve The Odds Of Selling Your Home

Below you will find multiple tips from local realtors to increase the chances that your home will stand out amongst the competition within the spring-time real estate market:

Professional Inspection

It is important that sellers have their homes inspected prior to putting their homes on the market.  Waiting until the end when the buyer has the home inspected often leads to surprises.  To avoid these unwanted revelations have a professional inspection company out to inspect the home.  Pay special attention to the homes foundations, structural soundness and roofing.

New Life To The Home’s Exterior

• Purchase New Outdoor Entry Door Mats: New outdoor mats refresh the entry space.
• Power Wash Siding: Spring cleaning should not be kept only to the interior of the home. Power wash the siding to take off dirt, debris and mildew that can build up in areas of the home where light does not shine.
• Freshen Up Exterior Door Paint: Fresh paint really livens up the front door which is the face of the home. Dramatic colors when used in conjunction with complementary siding can really change the look of the home.  Paint draws attention to the refreshed space attracting buyers to the curb appeal of your home.

Prepare The Landscape

• Rake the Yard: The lawn must be in tip top shape. To ensure that loose grass, pine needles, leaves and lawn debris is not present the lawn should be raked.  The remains should be picked up and disposed of in paper recycling lawn bags.
• Trim Bushes: Trim bushes and cut overgrown trees. This will clean up the area and make it look fresh.  Tree limbs that are overgrown block the light on the home so removing them will allow the sun back into the yard.  Openness and light appeals to buyers.
• Mow Regularly: Having the lawn freshly mowed will come across as manicured and professional. This will also give the curb appeal a boost.
• Edge Sidewalks and Walkways: Clean, pristine walkways show buyers that the home was kept up on and well maintained.
• Add Color: Include color in the landscaping. Plant bright landscaping and arrange scented, colorful containers filled with flowering plants to bring lively, vibrant colors to the exterior.

Thorough Spring Cleaning

• Clean Drapery and Blinds: Window covering should be sent out to the cleaners. They will come back fresh and pressed.  Blinds should be professionally cleaned to get rid of the dirt that has built up over time.  Spider webs that cover blinds are not becoming to sellers.
• Wash Windows Inside and Out: Sparkling windows don’t cost a thing and really add to the overall presentation of the home. Avoid streaks and smudges by cleaning windows inside and out.  Then using a fresh micro-fiber cloth dry wipe the interior and exterior.
• Wipe Window Frames: It may seem mundane but it is so important to clean the window frames and sills thoroughly. Windows should be open to allow in crisp air when buyers are present and the last thing that sells a home is sill scum.
• Polish Floors and Mirrors: Shine and sparkle are appreciated by buyers. It demonstrates how well the home is maintained.
• Clear Clutter: Remove clutter from your home. Take your personality out of the home so that buyers can see themselves in the space.  Remove pictures, eliminate unneeded knick-knacks and purge over abundance as this allows buyers to envision the space as their own.

Add Life To The Home

• Add Fresh Flowers: Clip fresh flowers and display them throughout the home. Use flowers that are fragrant or flowers that buyers can see in the outside landscape around the home.
• Use Electric Oil Scents: Oil scents are a popular, hidden way to include favorable scents into every room in your home. Use scents that appeal to the masses.  Popular scents remain clean linen, fresh cotton, lavender and vanilla.  Light scents over harsh deep scents are preferred by the majority.  Stick with them when including electric oil scents within your home.
• Bring In Colorful Accents: Replace the inexpensive accents in the home to bring color and updates to the interior or the home.  Towels, linens, throw blankets, and accent pillows can be replaced reasonably and the new colors will freshen up the environment.
• Update Rugs: Rugs that are worn out show a lack of cleanliness and maintenance. Rugs are fairly easy to find inexpensively and bring in patterns and colors to neutral paint and drab solid colored furnishings.
• Paint Interior Doors:

Marketing The Home For Sale

• Make Use of Brightly Colored Balloons: Balloons help to create excitement and bring attention to your open house signs.
• Send Out Vibrant Flyers: Marketing materials should be brightly colored. Black and white flyers don’t do the same job that colorful promotional materials do.
• Announce Financing Options: Don’t keep buyers guessing on affordable financing options proudly display them on materials displayed at open houses or that are directly mailed to potential buyers. Many buyers appreciate an estimated monthly mortgage payment to ensure that the home is within their preapproval.
• Offer Bottled Water & Treats: Looking at home after home is exhausting. Buyers will appreciate water and treats while viewing your home.  Personalize them with photos of your home and your realtor’s information.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Staging Your Home For A Spring Sale

One of the most important aspects in selling your home is the staging process.  While staging your home you have the opportunity to freshen up the entire home inside and out.  Spring is the perfect season to help set the stage for selling your home.  When the sunshine is out and the fresh showers are turning everything green there are plenty of chances to stage your home to attract buyers.  Make the most of spring time with these staging revisions that are sure to attract serious buyers.

Spring Shape Up For Your Landscape: To sell your home quickly during the springtime season it is important that the exterior of your home is in shape.  Winter weather brings in some nasty debris that needs to be removed before you put your home on the market.  Spring is not always ideal for planting but if part of sprucing up your landscape is to bring in some color look for plants that are frost-resistant.  Don’t waste money on plants that will be damaged by a late cold spell if it should hit.  Spring growth is a perfect accent for sellers!

Interior Spring Cleaning: The spring season is naturally known for a time to clean.  Cleaning is also the perfect addition to any plan involving selling your home.  Spring cleaning lets your home sparkle and look even more appealing to buyers.  The scent of clean will fill the home, the home will glisten and you will have had an opportunity to go through everything you own getting rid of unnecessary clutter.

Entryway Spring Spruce Up: Pick up a fresh entry mat to make the entry way to your home fresh.  A freshened up entrance will set the tone for your homes showing.  Add some seating with fresh colors to add to the appeal.  A hanging basket is another way to freshen up the space.  If you are feeling really adventurous take time to update the paint on the entry door.  These small renovations bring your entry up to date and appeals to buyers.

Stash Winter Wearable’s: Winter clothing takes up a lot of space.  Spring is the perfect time to stash the winter wear and bring out the spring and summer wear.  Boots, scarves, hats, gloves and thick winter coats take up a lot of valuable space.  Put the winter wear in storage in order to reduce the clutter and show off the extra space within your home.

Bring In The Spring Scents: Spring is full of fragrant scents.  Don’t forget to bring the scents into your home as they work to put buyers in a good mood.  Open the windows, add some spring scented candles and fresh cut flowers can change the entire feeling of your home.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Real Estate Agents Make the Buying and Selling Process Simpler

It is that time of year when purchasing a home starts to pique people’s interest.  It is important to understand that although you can navigate the home buying process on your own it is much simpler when a qualified real estate is in your corner helping you along the way.
Benefits of Hiring a Realtor When Buying a New Home

• Comprehend Home Financing: Experienced realtors offer comprehensive knowledge in home financing. They have been through the closing process on buying homes and are familiar with a variety of scenarios that can come up throughout the process.  They can offer suggestions on mortgage brokers help with the preapproval process and offer guidance when it comes to choosing between several mortgage options.  They offer an outside opinion on the information you are receiving from the broker and lenders.
• Identify The Most Recent Listings: Another major benefit that comes from working with a real estate agent is that they have market connections.  This allows them the inside scoop on new listings, some even before they become available on the market.  This offers a unique opportunity to you as a buyer to have the first peak at homes.  Buyers have often been able to put an offer on a home and have it accepted without a seller having to go through the hassle of open houses and daily showings.  This can also make it easier to get a good deal on a home without ever having to enter into a biddig war with another buyer.

Types of Real Estate Agents

• Buyer’s Agents: This is an agent that is representing the best interest of the buyer within a real estate transaction. They are often compensated through commission which comes after the transaction closes.  The seller’s broker often splits the commission with the buyer’s agent.  Before signing a contract with a realtor it is important to understand who is paying the commission, how much they are being compensated and when this fee is expected.
• Sellers Agents: You may have guessed that this type of agent represents the best interest in the seller. This person is the listing agent on a home and is responsible for marketing to buyers in order to secure the best price and terms possible on the sale of the home.
• Dual Agents: A dual agent is uncommon but does occur within real estate transactions. A dual agent represents both the buyer and seller.  Dual agents are not always a good idea as they have a conflicting interest to both parties involved in the process.  Laws are incredibly strict with what a dual agent can do.  It may not be in your best interest to use this type of agent especially when buying our first home.  Perhaps when you are more familiar in real estate transactions a dual agency can save you money on commission.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Tips To Buying and Selling in 2016

At the first sign of spring both home buyers and sellers get anxious.  This is the time of the year that many homeowners wait for to list their homes in search of something bigger and better.  The season brings a flux of new home buyers looking for their first homes, buyers looking to upgrade and sellers anxious to sell in order to move on to the next phase of life.  No matter where you are at or who you are in the equation one thing remains the same; spring is the perfect time to buy and sell real estate.

It is important to have the market on your side.  2016 is said to be a year filled with a new competition between buyers that hasn’t been seen in recent years due to the relatively low housing inventory, slow increase in interest rates and home prices.  People are ready to settle into a home at a reasonable price while taking advantage of the current lower interest rates.  Economists have long predicted that the interest market on home loans would start to see hikes as the economy recovers.  This article is filled with tips for both home buyers and home sellers so that they can understand what is important right now in the real estate market.

Top Buying Tips For 2016

• Don’t Delay: Many home buyers want to time their purchase to coincide with the spring or summer season. This is problematic because this is a theory many buyers use which leads to a high demand for homes within these seasons, which drives up competition and therefore the price sellers can ask.  Start looking for a home immediately.
  The home buying process is not something that occurs overnight.  Rest assured that beginning your search today doesn’t mean you will be moving right away.  Meet with a local, professional real estate agent right away. They will access your wants and needs and be able to locate homes within a database that may interest you.  Start the process by driving by the locations.  Scope out the neighborhoods, schools and other areas of interest; if you happen to love the home look at it but again the time table is one in which you set.

• Work With A Mortgage Specialist: A mortgage broker is a specialist who will look at your current financial situation and seek to find a mortgage lender and home loan option that is most advantageous. A mortgage specialist will help to find you the best type of loan and rate for you while examining just how much you can truly afford to take on.  A pre-approval from a mortgage broker is also a huge bonus when it comes to having an offer accepted on a home.  Sellers are looking for buyers that are committed and ready to buy.

• Consider New Construction: 2016 has been deemed the year of that new construction begins to surge. The prediction is that the new construction market will grow sixteen percent this year alone.  If you choose to buy a new home there is often less competition and a larger selection of homes to choose from.  The con however is that new construction homes often start at a premium price tag.

Top Selling Tips For 2016

• List Now: The prime season to buy a home is historically April through June. Now is the time to get your home ready to sell and listed on the market.  A larger population of buyers is said to be seeking to buy homes during the spring and summer seasons.  Take advantage of this.  More buyers can often lead to bidding wars resulting in higher prices and quicker closings.

• Be Reasonable: Don’t try to oversell your home. This is an issue many real estate professionals face when listing a home for a seller whom deeply regards every cent of home improvement that has been put into a home.
  It will not matter that you put in all new landscaping when you moved in five years ago other than the home looks better and is up kept.  Some renovations will not offer a return on investment.  Listen to the professionals when pricing your home to sell.  Price your home to sell based on the market and comparable homes in the area.  This will ensure it sells quickly and effortlessly.

• Offer An Incentive: No matter what is being sold people love a deal. Offer an incentive to buyers. Be willing to negotiate in areas other than the homes price.  For instance, if you live on the water and are moving inland consider throwing in the boat.  If a buyer mentions that love your dinette set be willing to counter offer a higher priced offer but include the dinette set.  This is often a win-win situation for buyers and sellers.

Lady of the Lakes Real Estate is Livingston County's premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

Tips To Find Your Dream Home This Spring

Spring is a great time to buy a home.  With the spring home buying season about to fully get underway there are a few strategies to keep in mind to ensure you find the home of your dreams within your budget.

Professionals within the housing market industry are anticipating a busy home buying season for 2016. The inventory is here, the market itself is stable and there are concerns that the interest rates on home loans have seen their lowest days are on the rise.

If you hope to be successful in the present market it is important to have a strategic plan in place to approach finding the home of your dreams.  Be prepared and incorporate the tips below when buying a home this spring.

• Ditch The Computer

With over ninety percent of homeowner looking online for the home of their dreams it may benefit home buyers to look elsewhere.  Get outside; start canvassing areas in neighborhoods that meet your needs.  Work with a realtor to help narrow the window of area homes that meet all of your wants and needs within your budget.  Having a real estate agent that completely understands what you are looking for at the start of the busy spring season is a must.  They often have ties to homes going on the market, which you can preview before anyone else.  New homes hit the market quickly.  Get in, preview the space and make an offer before the seller is even prepared to list the home to ensure you the pick of the litter when it comes to homes hitting the market this spring. 

• Understand the Current Housing Market

Each housing market is a bit unique.  This is true of different neighborhoods, school districts, towns and more. The area in which you are looking is distinct and the housing market within will be exclusive to that space.  It is important that buyers understand the current housing markets of the areas that interest them and hire a real estate agent that fully embraces the concept.  The entire process can hinder on the uniqueness of the market in which you are looking.  Research and educate yourself before it’s too late. 

• Get Pre-Approved and Lock In Low Mortgage Rates

Mortgage rates have begun to fluctuate.  The economy of 2016 is different than that of years past.  We are seeing economic recovery, new construction and home remodeling increases and with that eventually come higher interest rates.  Mortgage specialists have indicated that they don’t expect these low mortgage rates to last into the summer buying season. 

Mortgage brokers have indicated that all signs pointing from the Federal Reserve are that interest rates will begin the spring buying season low and will increase slowly throughout the season and into the summer buying season.  The concerns about heightened home prices and increases in rent will continue to exceed the increase of earned wages; before it is too late lock in a low pre-approved mortgage rate.

• Construct a Dream Team

The spring home buying season can be competitive and fast paced.  With this in mind it is important that buyers have a team in place that allows them to make an offer on the perfect home at a moment’s notice.  Your dream team should consist of a professional real estate agent, a mortgage specialist with several lenders and loan options in place, a lawyer and home inspector.  With your pre-approval in hand you are ready to complete the mortgage process quickly once a property is found.  Eager sellers will often benefit from a quick sale and can compensate accordingly. 

Lady of the Lakes Real Estate is Livingston County's premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.

The Perfect Time To Buy A Home Is Now

Do you think you are ready for the commitment of buying a home?  With the home buying and selling market that we are experiencing right now it is the perfect time to start looking.  Whether you are looking to buy your first home or upgrade the current interest rates and home market make it an ideal time to hire a realtor to begin your search.

A trusted realtor with experience in the local area is a must when you are looking to buying a home.  Some buyers are hesitant to use a realtor because they don’t want to pay the fees involved with using a realtor.  It is important to remember that the fees that realtors are paid, the commissions, are paid for by seller.  It is crucial that buyers remember that listing agents do not have their best interest in mind. They represent their client, the seller and their best interest.

No matter if you use a realtor to buy a home or not the commissions are paid by the seller.  Therefore not using one only allows for the sellers listing agent to be paid both sides of the commission.  Using an real estate agent that is savvy can help to protect your interests throughout the home buying process from negotiating the sale price to helping you navigate through the home inspection process.

Buying a home requires you enter into a legal contract.  One major difference in contracts dealing with the purchase of a home is that they are negotiable up until the time at which you sign on the dotted line to buy the home.  If you want time to review the home inspection report, time to obtain a well inspection or want to ensure that the sale is subject to a certain condition such as the ability to obtain a home loan this can be negotiated into the deal.

Buying a home is one of the biggest financial commitments that most of us will ever enter into.  With this in mind it is important to consider changes in your future before making a purchase.  If you are looking to start a family in the next two years buy won’t want to move again within that period of time it is essential you consider the additional member of your family in the purchase.  Consider the number of rooms in the home, the day care centers in the area, local recreation and all other aspects that are important to you.

When you buy a home you are making an additional commitment to your time.  You will need time to keep up on daily maintenance as well as future home improvements.  Find a home that meets the commitment level you are ready for.  If you don’t have lots of time for yard maintenance or exterior upkeep consider the purchase of a town home, condominium or home with significantly lower maintenance requirements.

An affordable home is important as well.  Take into consideration the amount you have to put down on a home, the interest rate you will pay, monthly utility payments and such before purchasing a home.  The cost of the home is essentially unimportant if you can’t afford to live in it.  All of these items should be added up and accounted for before fixating on a home of your dreams.  Affordability comes from more than just the initial cost to purchase the home.

An experienced real estate agent is invaluable to the buying and selling process.  They offer extensive knowledge of the process as a whole and therefore decrease the amount of stress that is usually associated with buying a home.  A great way to find a reputable real estate agent is to talk to family, friends and associates about their experiences.  Newer agents with less experience can still offer a reliable amount of knowledge to the process depending on your level of experience in home buying.  If however, this is the first time you are buying a home look to work with an agent that has been working within the industry for a significant amount of time.  Time in real estate improves upon the knowledge of an agent as well as the different number of situations they are familiar with.

Lady of the Lakes Real Estate is Livingston County’s premiere realtor; out of Pinckney, Michigan helping buyers buy and sellers sell homes that provide a recreational lifestyle including golf courses, lakes and the Huron river chain of lakes, throughout Brighton, Howell, Pinckney and the surrounding area. Find out more at http://www.ladyofthelakes.com.