Blog

What does a real estate agent actually do?

by Eddie Chang

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    Being a real estate agent requires you to employ a significant number of skills to complete a variety of different tasks on a daily basis. Trying to put what an agent does each day in one or two sentences is virtually impossible to do. It would be like trying to tell you what a chef does “cooks food” or what a nurse does “takes care of patients”. There’s a lot more that goes into what they do than just “helping people buy or sell properties”. If...

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What is your debt to income ratio...why should you care?

by Eddie Chang

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      Any time you have more income and less debt, you’re in good shape in life. That said, there is an ideal ratio between your debt and income in order to qualify for a good mortgage.   When your debt to income ratio is on the high side, you run the risk of not getting a good loan (or not getting a loan at all) if your income were to take a hit during right before or during the loan funding process.   Conversely, having no debt can work against...

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What happens when you overprice your home?

by Eddie Chang

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    When the real estate market favors sellers, it’s almost like there’s a feeding frenzy among buyers trying to secure listings that seem to get snapped up within hours of being put on the market.   Such demand drives the prices of homes up rapidly, which only feeds into the perception that the good times will last forever.   Unfortunately, trees don’t grow to the sky and there will always be a top of the market. What this means is that even...

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Why Get Pre-approved? Structuring Your Offer to Get the Best Deal

by Eddie Chang

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    Buying a home is a dream come true, but the process of getting an offer prepared and accepted can be a nightmare if you don’t know what you’re doing.   There are over 80 variables that need to be managed properly when buying a home and mishandling just one of them could cost you tens of thousands of dollars in unnecessary expenses.   Making a home purchase is expensive enough that you don’t need to part ways with any more of your hard-earned...

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Why You Should Have A Home Inspection Before You List

by Eddie Chang

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        One of the largest home sale killers is the home inspection.   Nearly one-third of all terminated real estate contracts fell apart because of the inspection results. Inspections also ranked as the number three cause of delayed settlements, accounting for 13 percent.   For some reason - and I’ll never get it - a home inspection that comes back with anything less than a perfect report strikes fear into the hearts of buyer agents and home...

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Your home is under contract, what’s next?

by Eddie Chang

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    Great news, you’ve put a home under contract and you’re excited to move in one day soon.  There’s a lot that has to happen before you can take occupancy: home inspection, appraisal, financing paperwork, contingencies and other dates to be met. Here’s what you can expect to happen over the coming weeks. Due Diligence Now that the home is yours to negotiate exclusively with the seller, you have a due diligence period that allows you to...

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What will be your payment on your new home?

by Eddie Chang

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    Buying a new home can be overwhelming. Between understanding the financial aspects of your loan and all the paperwork required to buy your home, things can get a little crazy. One of the biggest parts of getting a new home is figuring out the terms and conditions of your mortgage. Two of the biggest areas that impact your loan are credit and your down payment. In this post, we’ll cover both and also explain how to determine the down payment on your new home. Understanding...

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Owning vs. Renting

by Frank O’Connell

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      Making the decision to own a home versus renting one is no small decision. Not only does it affect your expendable cash, but it also has a huge impact on your lifestyle and how much money you’re able to save over time.   Sometimes, the goal to achieve the “American Dream” of owning a home clouds some people’s vision for the future and they buy a home when they should really be renting one.   Similarly, there are people who...

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Property tax assessment too high...what you can do about it?

by Frank O’Connell

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    An increase in home values is great because it increases the equity in your home without you having to invest more money in making it happen. Unfortunately, as the price of your home increases, so does the perceived value of your home in the eyes of your local tax assessor. When that happens, your taxes also go up. The bad news is that your tax rate - the annual percentage of your home’s value that you pay - is fixed by the state and/or municipality in which you...

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How to sell a home that didn't sell

by Frank O’Connell

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        The housing market is faring much better than it was a few years ago, but that doesn’t mean every home sells for top dollar or for that matter, sells at all.   So, if your "for sale" sign has been sitting on your front lawn a lot longer than you expected, you might be wondering how to sell your home that didn’t sell when you thought it would.   As a best practice, it ideal to consult your real estate agent, assuming that...

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