Buying a home is one of the largest purchases you can make during your lifetime and for many people, it can cause a little bit of apprehension at first. For first time home buyers, there are many unknowns and many questions to be asked: what can I afford? What neighborhood should I live in? What will my property taxes look like? Is buying a home a worthwhile investment? These are just some of the thoughts that can happen throughout the home buying process. We’re here to help answer these questions and make sure you feel ready and excited to start your journey to buying the home you’ve always wanted. Here are some ways to take the uncertainty out of home ownership.
#1: Know what you can afford.
Before you start shopping for a home, talk to an experienced lender to find out what you can afford. They will sit down and talk to you about your income, debt or other financial obligations, and any other factors that will provide the information they need to give you a pre-approval letter with the amount that you can spend. Remember, even though you are given a set price, you don’t have to spend to the limit. If you use your full pre-approved amount, your monthly payment will be higher, and you will need to determine if that is something that you are willing to take on.
#2: Ask questions.
There is no doubt about it – the home buying process can be overwhelming at times. There are a lot of different steps involved and stacks of papers that need to be explained and signed. If there is anything along the way that confuses you, don’t ignore it. Ask questions so you can be sure you fully understand what is going on. This will help take some of the uncertainty out of the future for you. Our team has years of experience with real estate transactions and know the inner-workings of the process of buying a home. If there is anything you are unsure of, we are glad to explain it to you.
#3: Be flexible.
When you start shopping for a home, it can easily become an emotional process. You may feel a sense of urgency to purchase a home before interest rates climb, which can cause you to feel stress, and when combined with finding a house that you really love, it can be difficult to be flexible. While emotions are good to an extent, it’s important to factor a sense of flexibility into the process, too. Understand that you may not get the first home that you fall in love with, and you may need to be flexible in marching onward to find a different house. Talk to us about your feelings along the way and we can help keep reality at the forefront of your home search.
Buying a home is an exciting time. Not only does it mean you get to make an investment that will likely reap great rewards for your future, but it will also allow you to find a place that you can put down roots and enjoy for many years to come. If you are ready to set out on the path toward home ownership, contact us today to get started!
Buying a home is a dream come true for many people and the longer you live in it, the more opportunity you have to build equity. Equity is the difference between what the home’s market value is versus what you owe on it and with each house payment you make, the more equity you gain. Also as your home’s value starts to increase your equity also grows. If you’re looking for additional ways to improve equity in your home, here are a couple of ideas.
#1: Large down payment.
When you’re ready to buy a home, you can get a head start right at the get-go, by making a large down payment. Putting down 20% or more of the property’s value is a great way to not only add instant equity, but it can also keep your house payment lower and it will also allow you to avoid paying private mortgage insurance each month which doesn’t insure you but rather insures the lender against a possible loss.
#2: Shorter mortgage terms.
It’s very common for homeowners to take out 30-year loans on their home, but if you can swing refinancing your home to a 15-year mortgage, you will be able to pile on the equity and help pay off the loan quicker. Your monthly payments will be higher, but the payoff can be significant when your mortgage is paid off in half of the time. If you can’t swing the refinance to a 15-year mortgage, consider paying a little more on the principal of your loan with your payment each month or make one or two extra payments a year and apply it toward the principal. This can help you pay off the loan sooner and will help bolster equity over time.
#3: Home renovations.
There are some remodeling and home improvement projects that can help increase the value of your home and boost the equity. Replacing windows and doors, adding attic insulation, and completing a kitchen or bathroom remodel can all help with increased property value and greater home equity. There are certain home projects that do not add as much value. If you’re not sure, I’m glad to provide advice on which to-dos reap the most return.
If you’re ready to explore the option of buying or selling a home, contact me. I’ve been helping clients of all kinds for more than two decades. As a Realtor®, I can help you start the process and can provide tips along the way. I am glad to help you with the information you need to start your adventure.
When it comes to buying a home, finding one in the right neighborhood is one of the most important considerations to keep in mind. Living in the area you want, in the home you want is the recipe for being a satisfied home buyer, giving you what it takes to live there for many years to come. Here are three main factors that make a great neighborhood.
Even for people that do not have kids in the school system, it’s important to know what your neighborhood schools are like. Quality schools ensure that good families want to move to that specific area, which will help increase the value of your property. Southwest Washington public schools are among some of the best in the state. Each school district employs high-ranking, award winning teachers, administrators, and support staff. Our primary districts are:
- Vancouver School District
- Battle Ground School District
- Camas School District
- Washougal School District
- Evergreen School District
- Ridgefield School District
- La Center School District
Whether you’re a city person or someone who wants to be surrounded by forested areas in the country, making sure your home is accessible to the things you want is key. Research what places are nearby for public transportation, grocery stores, restaurants, activities, or hospitals. Consider what parks and other green spaces are around and factor in how long you will need to commute to work in your new neighborhood. If you telecommute, be sure you know how you’ll get that done in your new location. All of these are important questions to figure out answers to, so you can be sure you’re spending time at home rather than in your car traveling a long way to the places you need to be.
#3: Pride in ownership.
When you find a neighborhood that demonstrates pride in ownership, it’s obvious. Residents that keep their homes and yards maintained well will generally also value in the neighborhood and the neighbors they meet. A great neighborhood has neighbors that look out for each other, bringing them together for the betterment of the neighborhood as a whole.
If you want to explore the option of buying a home, contact me. I’ve been helping customers of all kinds for more than two decades. As a Realtor®, I can help you start the process and can provide tips along the way. I am glad to help you with the information you need to start your adventure.
Once you have purchased your home, it costs money to maintain. There are some surprisingly easy ways to save your hard-earned cash when it comes to day to day living in your home, as well as home maintenance. Her are some tips.
#1: Minimize your use of traditional light bulbs.
Incandescent light bulbs cause homeowners to throw away a lot of money every month due to high electric bills. Replacing your old bulbs with LED bulbs can help save you huge amounts of money over time. Over its life span, traditional bulbs can use up to $180 worth of electricity, whereas LED bulbs will use only $30 per bulb.
#2: Fix leaky faucets.
Leaky faucets not only waste gallons of water, which is a precious resource, but you’ll end up paying a lot of money for unused water. Getting your faucet replaced is an important task and could end up saving you a lot on your water bill.
#3: Install a programmable thermostat.
Programmable thermostats are an amazing invention that allow homeowners to customize the temperature of their homes the way they like. The best part: you’re not wasting energy running your heating or cooling system while you’re away at work or on vacation. For example, if you plan to be away at work for most of the day during a hot summer day, program the system to shift up a few degrees while you’re gone, then set it to turn back down shortly before you turn home so it’s nice and cool. There is no use heating or cooling an empty home.
#4: Check your windows and doors.
Are the windows or doors in your home leaky? This is a great way for air to leak in or out and ultimately cause homeowners to pay excessive amounts in wasted energy. Be sure to caulk leaky windows and seal doors with rubberized weather-stripping on the sides and bottom. If your windows and doors are old and inefficient, consider replacing the windows and doors fully in your home. This will not only allow for energy efficiency, but it will also help add value to your home.
Summer is winding down. Are you ready to make the leap into home ownership this fall or are you ready to sell your home and move into your dream home? I have more than two decades of experience as a Realtor® and can help you start the process and can provide tips along the way. I love working with people around Clark County and am glad to help you with the information you need to start your adventure.
If you’re in the process of buying or selling a home, chances are, you’ve run into some questions along the way. This is one of the many reasons why your Realtor® plays a valuable role each step of the way. One of your questions may have been what role the title company will play in your purchase or sale. In Clark County, escrow and title services are completed through the same company, but each department has different roles and tasks. Here is some helpful information that can help clarify what the title company does as well as what the differences are between escrow and title.
At the time your property is listed, thorough agents will request a preliminary title report. This will show loans, taxes (property and excise), certain kinds of personal debt (tax liens/back child support), which must be paid when the sale is completed. Of course, the total of these should be less than the purchase price of the home.
In addition, easements, road maintenance agreements, HOA information, and CC&R’s will also be on the report. These are examples of items that will stick with the property. Reading the title report will allow your Realtor® to know about any trouble spots that come with the property before closing happens. Once there is an accepted offer, the buyer and the lender are added to supplemental reports.
Escrow includes collecting all necessary documentation to allow the property to transfer over to the new owner. Escrow also will pay off underlying encumbrances (ie. Liens on the property), will place new encumbrances, and make the property transfer with the County. The escrow team will work up the costs for both seller and buyer, including pro-rated property taxes, pro-rated HOA dues, costs from the buyer’s lender, and closing utility bills that could become liens on the property (water and sewer).
While each real estate transaction is different, there are still some basic action items that need to happen with each one. The title and escrow company play a crucial role in the closing process. I will help walk you through the various steps to make sure you understand what you need to do.
We’re officially into 2018 now and it’s a great time to buy or sell your home. Contact me today to explore how to get the ball rolling.
If you’ve determined that now is the right time to sell your home, congratulations!
You are entering into a ‘seller’s market’— this means that there are more buyers in the marketplace than sellers and it’s a great time to sell. One of the most crucial keys to selling quickly with a maximum return is to establish the RIGHT price. You want to maximize your return but set a price from the start to position your home to sell in a reasonable timeframe and let you get on with your next adventure.
WHAT HAPPENS IF YOU PRICE TOO HIGH?
There are several major risks if you price your home too high. First, your target buyer may not find your home online or see your property because the price is out of their price range. In addition, buyers who are shopping in a higher price range will be comparing your home with others and priced too high, you will not compete, actually making the competition look like a better buy. Homes priced just 10% high reduce the number of buyers by 30%. The end result is that your home could sit on the market for a longer period of time which means your ownership costs continue and most importantly you can’t “move on.”
HOW CAN WE SELL YOUR HOME AT THE RIGHT PRICE?
Call me! I will do research on what the market conditions are in your neighborhood, taking into consideration your home’s features, age, location, and updates/remodeling you have done. Then we’ll sit down and talk about your specific goals and needs, then set a price and terms of sale that fit those goals and needs. We’ll develop a marketing plan specific for your house and price range that targets the right kind of buyers. During the time you are FOR SALE, I’ll be sure we get input from buyers and their agents to make sure we know how they see our condition and price. This allows us to make sure we do what we can to make your property more attractive to buyers. All the while, we will keep aware of things happening in the local market and that might affect how your home sells.
Each home and each client has a unique story. Whether you’re moving from a condo to a house, moving from acreage to the downtown core, I can work with you in that journey.
Buying and selling a home is a process that some people just do once or twice in a lifetime, so oftentimes it feels unfamiliar and awkward. Having an experienced real estate agent that can walk you through the various steps is so helpful. Listing agents want buyers to have specific things when it comes to purchasing a home. Buyers agents want sellers to have specific things, too. Here’s what they are:
Listing agents generally want the potential buyer to have the following:
- A competent agent.
Listing agents generally want to work with a knowledgeable agent that is experienced in managing contingencies and is ethical throughout the process, especially when there are multiple offers on a property involved.
- A pre-approval letter.
Going house shopping without a pre-approval letter showing what home price you’re qualified to shop for, is a time drain for everyone involved. Before shopping for a home, buyers should have a pre-approval letter from their lender that has credit, assets, and income verified. That gives agents parameters on what homes are within the buyer’s range.
- Reasonable expectations.
Buyers have many ideas on what they want their next home to look like, but those expectations need to be realistic. In other words, buyers need to have reasonable expectations of house conditions based on the age of the home.
Buyers agents generally want the seller to have the following:
- A knowledgeable, competent agent.
Working with another agent who has experience in using the right forms and standard processes is important, and working with another agent that is ethical is also key. In today’s market, there are often multiple offers on homes and working with someone who follows ethical guidelines in those situations especially is important.
- Empathy and realistic expectations.
Sellers want to sell their home, but it’s important to keep in mind that buyers are facing a lot of stress in the process trying to find a home. Buyers agents appreciate sellers that have empathy for what buyers are facing in a low-inventory market. In addition, sellers that have realistic expectations of what types of repairs a buyer will ask for as a result of the home inspection is also important to making the selling process go smooth.
- Resources and information.
Sellers should be proactive about finding reputable, licensed contractors to get repairs done quickly and efficiently, the first time. This will help the selling process go a lot smoother. In addition, sellers should stay informed about the closing process and stay on top of getting their paperwork in order so there are no unnecessary delays.
Buying a home or selling one can be an exciting, but overwhelming time in your life. No matter what position you’re in, you and your Realtor should be able to work well together on whatever steps are coming next. If you’re looking for a Realtor to help make your home sale or home purchase a reality, contact me today.
Are you a home owner that is always up to date on the latest trends in home design? There are a lot of hot housing trends for 2015 that are already proving to be unique in helping homes stand out from each other. Experts predict that there are going to be a variety of trends happening this year, so in the next series of blogs, we will cover what some of these are.
- Hello, open living!
Well, it’s no secret that open floor plans are very desirable, but home buyers entering the housing market are predicted to demand even greater amounts of open spaces, even in traditional condo buildings or small suburban starter-homes. For homeowners that already own a home and are looking for ways to make their spaces feel even more open and brighter, consider adding additional windows or skylights to tie the inside and outside together.
- It’s tub time.
For many people, a nice soaking tub in the bathroom is a must-have item, and it’s looking like 2015 is proving this fact. Freestanding tubs are becoming a popular item in home design this year and it’s likely that freestanding decadent tubs will make a prominent appearance and push the traditional shower/tub combination to the back burner.
- Burn, burn, burn!
Fireplaces and fire pits are all the rage in home design today. There is just something comforting and romantic about sitting around a fire, whether it’s with a fireplace inside the home or a fire pit outside. Fireplace design that you will generally see this year will be more compact with fewer venting concerns.
- Posh Porcelain.
If you want to step outside the box of carpet or traditional hardwood, porcelain floors are becoming a unique option. It is relatively inexpensive and can be found in a variety of colors, textures, and sizes including small tiles or long and linear planks. Surprisingly, this type of flooring wears very well, so the most common places you’ll see porcelain floors are in hallways or other high traffic rooms.
Trends like these are fun to follow, but it is important to remember that even though you may love the idea of following along, it may not be the right move for your overall home’s style or your budget. Consider what ideas will work well for your home and how it can enhance the space.