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How much you should put down to purchase your new home?
by Dr. Shari Turner McKee
How much should you put down to purchase your new home? Historically, home buyers seek to put down 20% when they purchase a home. However, according to a recent survey by The National Association of Realtors (NAR), the actual national average is much closer to 10%. When it comes to first-time homebuyers, the average down payment is at 4% as per the same survey. While down payment requirements vary based on the lender you choose to work with, the amount required will usually depend...
Read MoreWhy You Should Get a Home Warranty When You List Your Home
by Dr. Shari Turner McKee
Why You Should Get a Home Warranty When You List Your Home Home warranties aren’t just for buyers anymore. In the past, buyers have asked sellers to pay for a home warranty to give them a year of protection after it sells on roughly 16 major systems in the house including things like the electrical system, appliances, hot water heater, furnace, etc. Overall, it makes sense because the first time claim on a home warranty for most buyers runs around $1,500 to 1,600 plus a deductible...
Read MoreWhat happens when you overprice your home?
by Kristen Garcia
What happens when you overprice your home? 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...
Read MoreWhy Get Pre-approved? Structuring Your Offer to Get the Best Deal
by Kristen Garcia
Why Get Pre-approved? Structuring Your Offer to Get the Best Deal 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 88 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...
Read MoreWhy You Should Have A Home Inspection Before You List
by Kristen Garcia
Why You Should Have A Home Inspection Before You List One of the largest home sale killers is the home inspection. Nearly one-third of all terminated real estate contracts fall 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...
Read MoreYour home is under contract, what’s next?
by Kristen Garcia
Your home is under contract, what’s next? Great news, you’ve put your dream home under contract and you’re excited to move in one day soon. That said, there’s a lot that has to happen before you can take occupancy: home inspection, appraisal, financing paperwork, contingencies and other requirements necessary to close. Here’s what you can expect to happen over the coming weeks. Due Diligence Now that the home is yours to negotiate...
Read MoreWhat will be your payment on your new home?
by Kristen Garcia
What will be your payment on your new home? 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 your credit and your down payment. In this post, we’ll cover both and also explain how to determine the...
Read MoreMarketing Strategies: Luxury homes vs average priced homes
by Kristen Garcia
Marketing Strategies: Luxury homes vs average priced homes As you can imagine, driving up demand for a luxury home takes a uniquely different approach than does selling a regular home. From the word go, you need a strong, clear and focused strategy that details how it will position your luxury home above the ordinary, illustrating and marketing its unique features in the proper manner to the perfect buyer at the perfect price. There are some very different ideas, thoughts and...
Read MoreOwning vs. Renting
by Kristen Garcia
Owning vs. Renting 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 continue to rent for the...
Read MoreProperty tax assessment too high...what you can do about it?
by Kristen Garcia
Property tax assessment too high...what can you do about it? 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...
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