Don't wait until signing the contract to educate yourself about the intricacies of buying or selling a home. Failing to plan appropriately for one of the most expensive and significant investments you'll ever make can lead to many regrets and problems later on.
First-time buyers are especially vulnerable to making mistakes if they don't educate themselves beforehand. So even if you've purchased or sold one or more homes in the past, it's a good idea to educate yourself all over again to discover changes that have taken place in the real estate market.
Choose the type of mortgage best for you – a VA, FHA, or USDA. There's also the question of whether or not you should apply for an ARM (Adjustable-Rate Mortgage) or a fixed rate. Your real estate agent and lender should be an excellent resource for those answers.
Execute a study of real estate in the neighborhood you like and want to purchase in. Check out whether homes are selling fast or lagging on the market. If the latter is true, find out why. For example, there may be electrical towers in the neighborhood or plumbing problems.
Take time to determine the maximum mortgage payment you can easily make with your current salary and bills. Check your credit reports and scores, and assess your credit situation. Improve it before you apply for a home if needed.
Online tools to help you assess your current financial situation are abundant. In addition, your computer and internet connection can help you educate yourself, so the buying process does not blindside you, especially if you have a home that needs to be sold before buying.
Active real estate agents are great resources to educate you on the home-buying and selling process, and some classes can educate you on the right moves to make. So, take advantage of everything you can to give yourself an edge in the real estate market. This is why I offer a free book on selling your home because most home sellers start their journey searching Google for answers. You can download my book at https://curtisturner.book.live/biz-card-book.
Finally, planning to sell or purchase a home is a bit like preparing for the birth of a baby. Although you'll get plenty of "advice" from others, you should always be comfortable with your decisions.
Here is the hard truth, your agent has no decision power in the process. Their role is to be an advisor, not the decision maker; only you can do that. Agents can lay out the process and landscape and present options and recommendations. So, you'll need to inform your real estate agent about your needs and educate yourself to make an intelligent decision.
So if you’re thinking of Selling, check out my book that shows you how to get the most money for your home in the least amount of time. Get Your Copy Here: https://curtisturner.book.live/biz-card-book.
Your home will have certain features that will interest buyers. Whether you’re selling your home yourself or using the service of a real estate agent, you need to make sure those features are showcased.
You’ll want to start by ensuring that whatever home listing is used draws attention to those features. While an agent automatically knows what to put in the listing, you might not. But some things that are considered special features are what you should highlight. You’ll need to mention where the home is located and what it’s near. For example, some young couples with school-aged children are looking for homes close to good schools, so you’ll want to highlight that. Others are looking for homes close to other perks like shopping, the downtown area, etc.
You’ll want to highlight the amount of square footage that you have. Not only should you or your agent do this in the listing, but you must highlight it in your home. That means removing as much furniture as you can feasibly ...
I know this topic has been addressed by me before, but I thought I would do a quick reminder post. Staying competitive is essential now that prices are starting to go down and buyers are coming back into the market.
1. Not being realistic about market conditions: Pricing the property too high is one of the most common mistakes made by sellers. This can lead to the property sitting on the market for an extended period, resulting in missed opportunities and wasted resources. Instead, sellers should be aware of market conditions and price their property accordingly. Failure to do so can result in a longer time on the market or a lower sale price.
2. Neglecting home repairs and updates: Another common mistake is failing to make necessary repairs or updates to a property before listing it for sale. This can result in a lower sale price or a longer time on the market.
3. Over-personalizing the property: Some sellers may personalize their property too much, making it difficult for buyers to envision ...
Buying a home involves a lot, especially in this crazy housing market. First, you get pre-approved for a mortgage and determine what mortgages you qualify for. Then you'll need to browse the few listings available and find something you're interested in. Then you narrow the list down to those that best meet your needs and price range.
Once you have settled on something, you negotiate until you find a price agreeable to you and the seller.
The thoughts of getting a mortgage make many people cower in fear. That's because if this is your first time going through the process, there is much that you probably need to learn or understand. One of the most common questions is whether one should get a fixed or adjustable-rate mortgage.
A fixed-rate mortgage has an interest rate that remains constant for the life of the loan. That means that your payment is the same every month. This type of mortgage is easy to understand and makes budgeting more predictable. The downside to fixed-rate mortgages is ...
