There are many milestones in life – completing college, getting married, celebrating a big birthday, and becoming a parent are just some of the “big” things that happen in life. One of the other monumental things that happens for many individuals and families is buying a home. Becoming a homeowner is exciting and it comes with several benefits. If you are considering what it will take to buy a home, consider some of these benefits to factor into your decision.
#1: Buying a home gives you a chance to put your unique stamp on something.
Your home is uniquely yours. You can customize it according to your one-of-a-kind personality and style. Decorating it, designing it, and keeping it well-maintained will help keep you happy.
#2: Buying a home means you are a part of a neighborhood.
When you buy a home, you become a part of the neighborhood as a whole. Establishing a strong connection with neighbors, neighborhood associations, and the overall city means that you get to build a sense of belonging as an individual and even for the friends and family that visit your home.
#3: Buying a home is an investment for the future.
Homes on average appreciate annually, which is an automatic investment for your future. Each month builds equity and you can use that equity if needed to remodel your home, pay off other debt, send kids to college, or put down on another home that you can use as a vacation spot or as a rental.
#4: Buying a home gives you stability.
A fixed mortgage payment gives you the stability you need to live your life without surprises. You won’t need to worry about increasing rent prices and you will have the opportunity to save for future house projects that will add value and curb appeal to your home.
Buying a home is a worthwhile decision that offers both personal and financial benefits. If owning a home is part of your dream, we can help you with the process and all the details that go along with it! Whether it’s your first time buying a home, or you have bought and sold one before, we are experienced in helping buyers of all kinds find a home as quickly and stress-free as possible. Contact us today to get started! We look forward to talking to you.
If you’re planning on putting your home on the market soon, chances are, you are crunching numbers to determine what the different costs will be. Some people may consider trying to sell their home on their own in order to save money, but this could end up being a negative in the end. Here are some main reasons why you shouldn’t sell your house by yourself.
Putting a sign in your yard or an ad in the paper will simply not bring the results that it did in years past. Experienced real estate agents have an Internet strategy to promote the sale of your home and that means you’ll get more exposure. Looking for homes online is the primary way people search for homes today and if you don’t have the ability to promote it via a well-known website, it’s likely that the home simply won’t get the exposure it needs to bring in the right buyer.
Negotiating the right deal is a process that real estate experts have fine-tuned. You will need to plan to negotiate with the buyer and buyer’s agent, home inspectors, and appraisers, just to name a few. If you are unfamiliar in how each of these people work on the various parts of a home sale, it could be confusing for you and you may end up missing something important along the way.
The paperwork involved when buying and selling a home is very complex. There is a lot of legal verbiage as well as intricate clauses and details that many homeowners simply do not have the training to fully understand. Experienced Realtors® can explain what the language means and how it will impact you as the seller.
People may think that they can save money in the long run by selling a home on their own. But in fact, many buyers rely on a “buyer’s agent” and you often will end up paying them for their services. This means you are unrepresented by someone with expertise, while the buyer has that advantage. However, an experienced real estate agent could end up helping you get more money for your property when everything is said and done.
Before you decide to sell your home on your own, talk to us about what we can offer you. We bring years of industry expertise in real estate negotiations in addition to helping answer the abundance of questions that come up during the process of selling a home. We are glad help you start the process of putting your home on the market so you can sell it as quickly as possible and move on to your next place in a new home. We are glad to help you with the information you need to start your adventure, so contact us today!
The winter season is often known as a difficult time to sell a home. While the weather might be colder and it might not be as convenient to move during the colder winter months, selling your home during this time isn’t impossible. Here are some helpful tips for putting your home on the market during the winter.
#1: Capitalize on curb appeal.
Trees have lost their leaves and things aren’t blooming as much during the winter, but that doesn’t mean you can’t maintain some great curb appeal on your home. Touch up the paint on the exterior of your home, make sure gutters are cleaned out, and remove leaves or fallen branches. Purchase some pots that you can pot some plants in that could be set near your door and withstand the wet and cold weather. Make sure everything is swept off walkways and lights are on outside during dark house showings so people can see the exterior of the house well.
#2: Work with an experienced Realtor®.
Real estate agents work hard all year long and will work to get your house sold during the winter. We have more than two decades of expertise helping clients of all kinds finding a home that fits their unique home-buying requirements. We are glad to talk to you about your budget, the size and style of house you are looking for, and then find some great homes that are on the market. This will help make your home search process more efficient.
#3: Make your home warm and inviting.
Searching for houses in the cold weather is hard work! Make your home feel warm, cozy and inviting during each showing, by making sure the heat and lights are on, as well as having some relaxing music and comforting, mild scents around the house. By encouraging prospective buyers to spend more time in the home, you are giving them more opportunity to picture themselves living there!
As Realtors®, we can help you start the process of getting your home listed for sale, then help get it listed so you can sell it as quickly as possible and move on to your next place in a new home. We are glad to help you with the information you need to start your adventure, so contact us today!
There are a lot of real estate terms out there. The good thing is: you don’t need to know them all! There are a few important terms, however, that every homeowner or potential homeowner should understand. Here, I will break down some of the most essential real estate terms.
Appraisal and appraisal fee:
The appraisal fee is a one-time fee that’s paid for the lender’s appraisal of the property. The home needs to appraise at the price the home is being listed at, in order for the bank to finance the loan.
Fixed rate vs. adjustable rate:
When you take out a loan on a property, a fixed rate mortgage will give you a mortgage rate that is set right when you take out the loan. Fixed rate mortgages won’t change. Adjustable rates, otherwise known as ARMs, generally start out at lower interest rates, but they can rise – the rates can go up and down throughout the life of the loan.
Your loan amount is the total purchase price, minus the down payment amount that you choose to put down. The loan amount can be spread out over 15, 20, or 30 years.
PMI, otherwise known as Private Mortgage Insurance, is insurance for the lender to help cover potential losses if the borrower stops making payments on the loan. It’s usually required when your down payment is less than 20% of the purchase price of the home.
Ready to get your real estate journey started? Contact me to start a conversation about what it takes to purchase or sell a home. I’ve been helping clients of all kinds for more than two decades. As a Realtor®, I can help you start the process, help answer questions on any terms that you need clarification on and can provide helpful tips along the way. I am glad to help you with the information you need to start your adventure.
If you have decided to make the leap into home ownership, chances are, you’re thinking a lot about your down payment and what you will need to have saved for it. When you look at the funding needed and break it down into small pieces to see what actions you can take to increase it, you will likely be able to save more than you initially thought. Here are some helpful ways that can help you bulk up your down payment amount.
Know what you need.
Oftentimes, people hear that you’ll need a 20% or higher down payment, but there are other options that allow you to put less down. Lenders don’t generally require 20% down, but rather can structure your down payment to meet your needs, considering that if you put less down, you’ll have a higher payment—both in principal and interest, as well as potential mortgage insurance which protects the lender if you default on the loan at any time. When it comes time to talk to a mortgage professional about your down payment, talk to them about low down payment options that could include FHA loans or VA loans for eligible veterans or active duty military. Most lenders will be happy to sit down and help you look at the info for your total down payment amount, which can then give you a solid goal.
Get creative with saving.
If you get a raise or a bonus at work, or you get money as a gift from a parent or other family member for a holiday or birthday, don’t spend it and instead put it straight into your down payment fund. If you pay off your car, resist the urge to go out and buy a new one with a monthly payment and instead use that money for your house savings. Another helpful idea is to set up an automatic transfer from your checking account into your savings on the same day each month. This is not only convenient and save you the time of manually entering the transfer, but it may make it a little easier to save, too.
If you’re ready to start a conversation about what it takes to purchase 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.
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.
Fall in the Pacific Northwest is stunning. The leaves are already starting to change, the mornings are crisper, and the sun is starting to set earlier. Autumn is the perfect time to cross off some things on your home maintenance checklist, that may seem small but can make a big difference in the long run. Here are some important things you can do to get your home ready for the change of season.
#1: Get the gutters prepped.
Autumn in the Northwest brings a fair share of rain, so that means your gutters are going to need to kick into overtime soon. Your roof will drain thousands of gallons of water from the exterior over its lifetime, and in order to keep that process flowing, your gutters need to be cleaned out regularly. Clogged gutters not only disrupt the flow of water, but they could also lead to damage on your foundation or leakage in your basement. Before the rainy season starts and leaves start falling, be sure to get your gutters cleaned, either by doing it yourself or by hiring a professional gutter cleaning service.
#2: Get leaks sealed.
If you have leaky windows or doors, be sure to seal them with proper caulking before cold, windy days settle in. Weather stripping is an easy and cost-efficient way to reduce your heating and cooling costs, all year long because they can reduce drafts and keep warm air inside where it should be on those chilly fall days. If you have already sealed the areas around your windows and doors and you are still noticing drafts because your windows and doors are old and inefficient, it may be time to consider replacing those items in your home. New windows and doors will not only be energy efficient and reduce noise, but they will also add value and curb appeal to your home should you choose to sell it later down the road.
#3: Review safety procedures.
It’s a great idea to check safety products around your home as well as review safety procedures you have in place. Replace batteries in carbon monoxide and smoke detectors, be sure you have fire extinguishers on each level of your home, and then review your fire escape plan to ensure that you have an exit path should a fire occur in your home. Be sure that your windows aren’t blocked with furniture and have rope ladders available in rooms that are on the upper level.
Part of being a homeowner means staying on top of home maintenance to-dos. Keeping your home maintained well will keep it in great working order no matter what kind of weather happens outside during this year’s fall season. Ready to start your adventure in home buying or are you ready to sell your home this fall? I’ve been helping customers of all kinds for more than two decades. As a Realtor®, I can help you start the buying or selling 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.
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.
Buying a home is arguably one of the largest investments you will ever make. Home ownership is a great way to build your personal wealth and one of the primary ways to do that is by allowing it to appreciate and build equity. Here are some great ways to build home equity while keeping your budget in mind.
#1: Before buying your home, save for a larger down payment.
Saving for a down payment on your home is key, but the larger your down payment is, the less your mortgage is, which could help when the market increases, and you begin building equity. The tradeoff: if you wait too long to save for a larger down payment, you may miss your window in getting the home you really want for the price you can really afford. A good lender can provide the information you need.
#2: Stay in your home.
Once you’ve found your dream home, stay put for a while. The longer you stay in your home, the more likely you’ll build equity. As the real estate market continues to rise, your equity will improve naturally, and you won’t have to do anything except enjoy your home.
#3: Keep your home maintained well.
Don’t neglect home maintenance. Keep on top of small maintenance tasks to keep the list from getting long and out of hand. For example, make sure you tend to your roof yearly, checking it for leaks or ripped shingles, schedule annual heating and cooling system preventative maintenance appointments, and keep your yard and landscaping trimmed and managed. A home that is well taken care of not only makes it better for you to live in, but it also adds curb appeal, makes your neighbors happy, and will help your home stay competitive, thereby enhancing your equity.
#4: Make extra payments.
A lot of people choose to cut their loan term to 15 years rather than 30 years, to pay off their mortgage debt. Rather than taking a 15-year loan which locks you into a higher payment, make a couple of extra payments a year that is designated to principal, not an upcoming payment. By doing this, you’ll be able to cut your mortgage term down significantly and you’ll be able to build equity faster.
Ready to start on your path to building home equity? I have more than two decades of experience as a Realtor® and can help you start the process of looking for a new home and can provide tips on what you can do to help increase the value of your home! I love working with people around Clark County, so contact me to help you with the information you need to start your adventure in either buying or selling a home.
If you’re buying a new house, you’re likely looking at the various terms on your paperwork and have noticed “mortgage insurance” on there. It’s not something that everyone is familiar with, so here is some basic info that can help answer your questions.
What is mortgage insurance?
Mortgage insurance is not a benefit to the home buyer and does not protect them against anything. Actually, it will only protect the mortgage company/bank in the event that the borrower defaults on the loan and doesn’t pay their mortgage. It is required when a borrower puts less than 20% down on the purchase or has less than 20% in equity during the refinance process on a home.
Aaron Hicks, Mortgage Consultant with Homestreet Bank shares that when a borrower is looking to get a mortgage, it can affect the loan approval process. Hicks shares, “It can increase the borrower’s monthly payment, which overall effects a borrower’s debt-to-income qualifications. Mortgage insurance companies require stricter guidelines depending on a borrower’s debt-to-income, credit score, loan to value, and type of property. Sometimes mortgage insurance companies require additional supporting documentation above what the bank may require and/or additional underwriting review.”
What kind of mortgage insurance is there?
Hicks says that there are multiple types of mortgage insurance for conventional loans. There is monthly mortgage insurance, single premium mortgage insurance, or split premium mortgage insurance. There is also lender paid mortgage insurance. For some loans, especially FHA loans, the premium will last for the life of the loan, even when your equity position gets you above the 20% mark. If the homeowner has a conventional financing method, the insurance can be removed once 20% equity in the home is reached. I can do a quick market analysis to determine if borrowers are at the 20% equity mark. The lender will require a formal appraisal to remove mortgage insurance, which costs $400-$600. So, it is a good idea to verify you’ve reached that point before ‘getting official’ with your request.
Purchasing a home is very involved and requires various steps and attention to detail. Oftentimes, questions and issues will arise, and this is one of the many reasons why it’s critical to work with an experienced Realtor. Whether it’s a question about mortgage insurance or something else entirely, I’m happy to answer your questions and will work with you to help get the answers you need. Contact me for info!