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Home Buying Isn’t as Far Fetched as You May Think
Owning a home is part of “The American Dream” and can often feel unattainable, especially for lower-income families. The thought of saving a down payment can seem a daunting task. Add the stress of finding the right home at the right price, and it can feel downright impossible. It’s not impossible! The United States Department of Agriculture (USDA) and Interfaith Housing Association have introduced the Purchase-Repair Homeownership Program. This program makes it possible for lower-income families to purchase homes that fulfill the USDA requirements and have money built into the mortgage to complete repairs on the home because almost all…
The Best Time to Buy and Sell
The decision has been made to sell (or buy) your house, but what do you need to know before you start? When you are looking to buy or sell a home, it is important to know the current market and how it will affect your transaction. A local Realtor® will be able to best assist you in coming up with a strategy to optimize both your buying and selling power keeping your best interest in mind. Seller’s market You’ve heard the term “seller’s market” but what exactly does it mean? A seller’s market occurs when the demand is greater than…
Show Me the Money
Getting a mortgage is one of the biggest financial steps you will take in your lifetime. It’s important to know how much home you can afford before you start looking and your lender can help with this process. If you are a first-time homebuyer, this is all new to you so we shed some light on what you can expect. Pre-qualification and pre-approval A lot of people think that the terms pre-qualification and pre-approval are synonymous. Don’t confuse them, as they are two different terms with two very different meanings. A pre-qualification will give you a rough idea of what…
Property Taxes and What to Expect in Certain Areas
Property tax is assessed on real estate and is usually based on the value of the property you own. This tax is assessed by the local or municipal government and is typically used to repair roads, build schools, remove snow or other similar services in your area. Depending on what county you live in, you will see different tax rates and if you live within the city or town limits, you will see an additional tax for that municipality. In Maryland, county and city taxes are not all you will see on your tax bill. Below, we discuss some of…
The Importance of an Appraisal for a Seller
You are selling your house, and someone has found it to be the perfect fit for their family. They have been pre-qualified for a loan and now it is on to the next step; the appraisal. Why exactly is an appraisal necessary and what useful information does it provide to you as the seller? LawDepot gives us some of the buyer and seller basics here, while we discuss the importance of an appraisal to a seller. A lot of information An appraisal is a large document that goes into great detail about a house, the land and the comparable sales…
Should You Have a Buyer’s Agent for a New Build?
It’s a beautiful day, the sun is out, and the birds are singing. You decide it’s the perfect day to go look at the model home of the new neighborhood you want to move into. When you’re looking to build in a new neighborhood, it’s important to either take your agent with you or to be sure to let them know you already have a buyer’s agent representing you! Things you should know about having a buyer’s agent The common misconception A common misconception about buying a home that is being constructed as part of a development is that you…
6 Ways to Correctly Time Your Sale and Purchase
The time has come to sell your home and buy a new one. With this, comes the task of correctly timing your sale with the purchase of your new home. Not an impossible feat, but it certainly can be complex. With a bit of understanding and some planning, it can be successful, especially when considering these 6 items. Same day closing Sometimes the stars align and you can time the purchase and sale to close on the same day. The ideal situation would be to sell in the morning and buy in the afternoon. This works best when you are not…
You Love Your House, Others May Not
You’re ready to put your house on the market so you call us to come over and determine what you need to do to get your house ready. Don’t be offended when we advise you to make changes to your house to sell it. Please remember that we live in a house differently than we sell it so don’t take it personally. Here are some action items to consider: Expose the floor When we are living in a house, we tend to round corners with furniture to make our space feel cozy. To sell it, we want spaces to appear…
4 Reasons You Shouldn’t Use Zillow to Sell Your House
There are many sites available that claim to give insight into your home’s market price. While a site like this may be helpful for some things, we are going to discuss four major reasons it may not be quite the help you need. It’s a matter of public record The first thing to remember is that these sites use public records as a way of developing information on your home. This means it may only be as accurate as it was at the time the house was last sold. So, if you’re looking to compare your home to another, and…
Keep Your Family Safe by Screening for Radon
According to the Office of Disease Prevention and Health Promotion (ODPHP) about 1 out of every 15 homes in the United States has some level of radon that needs to be reduced. If your level of radon is high, there are steps you can, and should, take to fix it. What is it? Radon is a naturally occurring radioactive gas. Radon is emitted through uranium that is found in soil, often that is rich in limestone. You cannot see Radon and there is no smell or taste, so there is no way to know it’s there unless you test. How…