Wow- What a year 2020 was- Hello 2021
Covid – 19, Elections, interest rates, stock market, housing, buying, selling and remodeling, jobs. I realize the list can go on. However, I would rather focus on the positive. HOME! You know, a home is our safe spot to fall when times are tough. For laughter, for love. This year has brought us plenty of opportunity to experience this. I believe you purchase a house, and the people make it a home. With interest rates as low as they are, really, 2-3% interest rates….free money baby. House prices are increasing in most locations. Win Win for both buyers and sellers. Yes, it is challenging with multiple offers, escalation clauses, bidding wars. Oh, not to mention the Home inspections and appraisals. Even in the market where houses are selling so fast, a good Real Estate agent is needed even more. There are negotiation techniques and ways to prevent the pit falls from happening that Professional Real Estate agents know. In today’s market this is happening more often. Interview agents. Make sure they have the knowledge base needed to guide you through the biggest purchase/sale you will have in your life. It is your money and you should protect it. A good real estate agent will educate and explain options to you so you can make an educated decision that is best for you and your family. A good real estate agent is worth the money. Oh, with that said, did you know FSBO homes typically sell for less money than those who use an agent. Hmmmmm
Sellers….get your home ready to sell. The condition you live in is not the same condition when you sell. Clean your home. Edge with the vacuum. Dust in the corners. Paint, Power wash outside. Improve your landscaping…remember the old saying, “First impressions”. Well, it is true. You want a buyer to enter your home with a positive thought instead of “well, I see we have to landscape, what will we have to do to the inside.” Wouldn’t you rather a buyer say, “Wow, I can’t wait to see the inside, the outside looks so beautiful.” Do not go and spend money on improvements until you speak to a real estate agent. They know what buyers are looking for and a real estate agent may save you money.
Buyers….Get pre-qualified! Better yet, get approved by a lender. This will make you a stronger buyer. Keep in mind. A lenders job is to tell you the maximum amount you qualify for in a loan. It is your job to know your comfort level and what you can afford. A lender does not know that you have a shoe fetish and buy shoes every week. Or that you like to eat out every day and go on trips all the time. You see where I am going…you know your spending habits. Please remember this: once you start applying for a loan, do not, repeat, do not, go out and buy anything…not a car, not a couch, not even towels. You have been pre-approved/approved based on your current financial position. Any purchase may change this and (I have seen this happen) prevent you from being able to purchase a home. Just remember that you are buying a home. An American Dream…Once settlement has commenced and you can afford it, them go purchase what you wanted. Also, in some states, contracts read that if a buyer causes disqualifications for a loan, then buyer may be in default. I am not an attorney, but that would make me more mindful of how I spend my money once I am under contract.
Hope this is helpful…If you have any questions, please let me know, I would be happy to help.
Until next time…