Real Estate Talk

Shopping for your First Home

What an exciting time! You have decided that you are ready to buy your first home. But have you figured out what you want and what you can afford? You haven’t? Oohh.. it would be a good idea to do this before you contact your realtor and get looking. It will save you both a headache and time in the process.

One of the first things you should do is visit your lender – whether it is a bank or a mortgage broker – and determine what you can afford. This is not what you are spending – but how much money they are willing to lend you for your mortgage. You will need to take a paystub or tax forms with you as proof of income. Be prepared to answer questions about any debt that you may have such as loans as well as credit cards that you use. They will likely need to know how much money you have for the down payment. It may take a week or longer to get an answer as to how much you qualify for, so make sure you ask how long until they give you an answer. Read more about Shopping for your First Home

Vocabulary Lesson of the Week | Real Estate Lingo

Realtors and other people in the know have a tendency to talk in acronyms. Apparently, we are so rushed for time that we cannot bother to say the whole word or phrase. And, time is money, you know. So, without further ado, here is a brief list of some of the more popular time-savers.

1. MLS: This stands for Multi-Listing System. Basically, it is the internal database that all realtors use to access information on homes for sale. You need to be a licensed realtor to use it, but online sources like realtor.com can pull certain information up to share with consumers.

Why Hiring a Buyer's Agent Is So Important

A Buyer’s Agent. What? Who? Why do I need one of those? I’ll just wing it on my own; it’ll save me money.

Ack! Where to start…

1. A Buyer’s Agent is the realtor in a transaction that represents the interest of the Buyer. He/she works for no one else. Their sole purpose in life is to get you the best deal on the house you want. Period. If they do the job well, they hope that you will give them a call in 5-10 years when you buy the next one.

When Does The Spring Selling Season Start?

The answer seems so obvious: Spring. Right?! Nope! Try again. Need a hint? In real estate, the Spring selling season starts now. The week after New Year’s. Once the dust settles and the wrapping paper is recycled, Buyers get back to business. Mortgage people are starting a new year and a new quarter. They are ready to lend (and make commission to pay for their Christmas binges). The New Year gives Buyers renewed energy that they will find the house of their dreams. They are excited. Excited Buyers are good news for Sellers.

Wait…

3 Holiday Gift Ideas for your Realtor

It’s Christmas and, like Santa, you are checking your list. Not to see who has been naughty or nice, but rather to make sure you didn’t overlook anyone. Babysitter – check. Lawn guys – check. Hair stylist – check. Realtor – huh?

While you may not like the state of the current housing market, it is by no means your realtor’s fault. In fact, a little token gift may just move you to their favorite client list. So, what do you get them? It can’t be expensive, just a small token to share some holiday cheer. Here’s a few suggestions to get you started:

More on The Holidays, Snow and Décor

So, you decided to move forward and be one of the few brave, yet determined souls to have their home listed for sale over the holidays. Good for you. There are a few more tips we can point out to make everything run smoother for you. Ready?!

1. Shovel, shovel, shovel. You cannot expect people to entertain looking at your house if they can’t even get to the front door. How can they appreciate your view if the deck or patio is piled three feet high with fluffy white stuff? In fact, the driveway, front walkway, and back deck or patio need to be meticulously maintained when you r home is on the market. If you cannot live up to that requirement, hire someone who can do it for you.

Listing Your Home For Sale At The Holidays

Most people assume that they should take their home off the market for the holidays. The concern is that between Thanksgiving and New Year’s the traffic in and out of listed homes slows. So, many people wonder why they should bother with all the cleaning and stress over the holidays when they already have a lot on their plates with the parties, shopping and entertaining that naturally comes with the season. This may be true but what many sellers fail to realize is that the quality of the buyers looking to purchase a home at the end of the year is vastly improved. The lookie-loos, the nosy neighbors and the indecisive folks are all weeded out. The fact is that they are busy with their personal lives and, ironically, do not have time to waste your time.