Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

March 11, 2020

4 Tips For Making a Competitive Offer

4 Tips For Making a Competitive Offer

Most areas of the country are experiencing a brisk real estate market. Well priced homes are moving quickly and often sellers have multiple offers from which to choose. How can you make your offer stand out and put you in a better position to get the home? Fortunately, there are a few things you can do to make your offer more attractive to sellers. 

4 Tips For Making a Competitive Offer

  • Offer a Fair Price - When the market is moving quickly, this is not the time to throw out a low ball offer and hope they negotiate. Write up an honest price based on market values.
  • Have a Pre-Approval - It may not be enough to simply offer a pre-qualification letter. When issuing a pre-approval the lender verifies your qualifications and an underwriter gives preliminary approval based on the actual home and a good appraisal.
  • Flexible Timing - Not everything comes down to price. A seller who is relocating might be more interested in an offer which gives them extra time to move.
  • Attractive Terms - Most offers include contingencies for items like appraisal, inspection, title and loan approval among others. Working with your lender and real estate agent, consider removing any contingencies you don't need. IF you plan to remodel extensively, for instance, you might remove the home inspection contingency. This provides more confidence in your offer vs the competition. 

The most important thing in a competitive real estate market is being prepared. Working with your lender and agent, you will understand your options and be able to write a solid offer quickly, putting you in the best position to have your offer accepted. 

 

Posted in Buyer
March 4, 2020

5 Tips for Buying a Home When You Have Student Loans

5 Tips for Buying a Home When You Have Student Loans

5 Tips for Buying a Home When You Have Student Loans

Most college students require some kind of financing to complete their degrees. Student loan debt is a serious commitment, one which can take up to 20 years to repay. But having a student loan does not mean you will be unable to buy a home, in fact, lenders are prepared for this kind of debt and can help you find a loan program that suits your needs.

Before you postpone homeownership, talk with a lender and plan for the purchase; then follow these 5 tips to make sure your search is successful.

  1. Understand Your Budget – Shop for a home you can afford. First-time homebuyers might not be able to buy the huge home with a pool. Be realistic about your monthly debt and be prepared to buy in your price range. 
  2. Reduce Recurring Debt – As you begin to plan for your home purchase, pay down credit card and auto loan debt. These additional drains on your credit and monthly paycheck and add thousands to your home purchasing power. 
  3. Lower Your Student Loan Payments – Consider ways to reduce the monthly cost of your student loans. Consolidation and refinancing are great ways to reduce the interest on loans and lower your monthly payments. 
  4. Pay On Time – This rule applies to all your debt, but demonstrating responsibility for your loans helps lenders see you as good borrowers and could lower your mortgage interest rate. 
  5. Save a Little Longer – A larger down payment will help reduce the monthly cost of the mortgage; if you can save for 20% down, you will also save in Private Mortgage Insurance is added to all loans with a high Loan-to-value.

Having a student loan does not prevent you from buying and owning a home. Talk to a lender and learn about your unique situation and create a strategy for accomplishing your homeownership goal. 

Posted in Buyer
Feb. 26, 2020

Most Popular Flooring Trends

Flooring is one of the best ways to give your home an update! Today there are more innovative and durable options for floors than ever before. Design trends are seeing a wide variety of new materials and styles which can interest and warmth while providing a much longer lifecycle than ever before.

Here are a few of the most popular flooring products:

• Fumed Wood Flooring: Unlike stained wood, a fuming treatment allows the grain to color through an ammonia treatment. This gives the wood a rich color with less damage.

• Bleached and Blanched Wood: Cool toned wood accents are back and beautiful.

• Reclaimed and Distressed Wood

• Concrete Tiles: Tiles which mimic wood and stone which are more durable

• Textured Tile

• Vintage Black and White Tiles

Unlike the past few decades which found home after home filled with dark granite countertops and cherry wood floors, design trends celebrate the individual taste. With so many options available, every homeowner will find a product to enhance their personal style and home.

Posted in Interior Design
July 31, 2017

Curious About Local Real Estate?

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Curious about local real estate? So are we! Every month we review trends in our real estate market and consider the number of homes on the market in each price tier, the amount of time particular homes have been listed for sale, specific neighborhood trends, the median price and square footage of each home sold and so much more. We’d love to invite you to do the same!

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You can sign up here to receive your own market report, delivered as often as you like! It contains current information on pending, active and just sold properties so you can see actual homes in your neighborhood. You can review your area on a larger scale, as well, by refining your search to include properties across the city or county. As you notice price and size trends, please contact us for clarification or to have any questions answered.

We can definitely fill you in on details that are not listed on the report and help you determine the best home for you. If you are wondering if now is the time to sell, please try out our INSTANT home value tool. You’ll get an estimate on the value of your property in today’s market. Either way, we hope to hear from you soon as you get to know our neighborhoods and local real estate market better.

Posted in Market Updates