Robin V. Wish - Real Living Suburban Lifestyle Real Estate



Posted by Robin V. Wish on 2/17/2020

Image by StockSnap from Pixabay

The perfect home is not the only thing you'll need to shop for when you want to become a homeowner. In order to get the best terms, the lowest monthly payment and a reasonable interest rate, start doing some homework now -- before you even attend your first open house. 

1. Check Your Credit Score

Checking your credit score should be the first thing you do when you're considering the purchase of a home. Why? Because every lender you speak to will use it as a benchmark for determining the likelihood of you being able to pay off the debt. The better your credit score, the more favorable terms and interest rates a lender might offer you. The earlier you know your credit score, the more time you have to address any issues that might be contained in it. Remember, you're entitled to one free credit report from each of the three reporting agencies each year. Take advantage of this service and keep tabs on your credit score. 

2. Have Steady Employment 

Being able to demonstrate that you are gainfully employed will go a long way toward qualifying for a mortgage loan and being offered attractive interest rates. Aim for at least two years of unbroken employment. Be ready to back up your claims regarding the duration of your employment and the dollar amounts you bring home. 

3. Offer a Sizable Down Payment 

Come to the negotiating table with a lender and with a solid down payment, you'll be able to enjoy lower monthly payments. There's no fast rule regarding the amount of a down payment. That being said, most lenders like you to have at least 20 percent of the home's purchase price as the down payment. There are some lenders, however, who accept less than 20 percent. If your lender accepts down payments that are less than the standard 20 percent, expect to have to purchase private mortgage insurance. This can be anywhere from .05 percent to 1 percent. 

4. Know Your Debt To Income Ratio

The debt to income ratio demonstrates your ability to pay off the mortgage as agreed upon. Most lenders like to see that your monthly debt payments are equal to or less than 43 percent of your gross monthly income. 

In a seller's market, there might be several people vying for the same home. Addressing the items above can make you look more attractive compared to some of the other potential home buyers. 




Tags: buyer tips   loan   credit score   planning  
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Posted by Robin V. Wish on 2/10/2020

If you add your house to the real estate market but fail to garner buyers' attention, now may be a good time to revamp your home pricing strategy. Otherwise, your home may remain on the housing market for many weeks or months before it finally sells.

Generally, there are several factors you need to consider to determine if you have priced your residence appropriately. These factors include:

1. The Current State of the Housing Market

The demand for houses in your city or town may have far-flung effects on your property selling experience. For example, if there is significant demand for houses in your area, the real estate sector favors sellers. Or, if there is minimal demand for homes in your city or town, the real estate market favors buyers. And if you do not price your house appropriately in a seller's or buyer's market, you may struggle to stir up interest in your home.

It often helps to price your house based on the current state of the real estate market. By doing so, you can establish an initial asking price for your home that falls in line with buyers' expectations.

To assess the current state of the housing market, evaluate the prices of recently sold residences in your city or town. You should find out how long these houses were available before they sold, too. Once you have this housing market data in hand, you can determine whether a seller's or buyer's market is in place and price your house accordingly.

2. Your Home's Age and Condition

The price you originally paid for your home is unlikely to match your house's current value. Fortunately, if you evaluate your residence's age and condition, you may be better equipped than ever before to set a competitive initial asking price for your home.

Sometimes, it helps to conduct a home appraisal before you list a residence. An appraisal enables you to receive a property valuation that accounts for your house's age and condition, along with various real estate market factors. Then, you can use this valuation to determine the optimal initial asking price for your house.

3. Your Home Selling Timeline

If you are in a hurry to sell your home, you should establish an initial asking price that will grab buyers' attention. On the other hand, if you can afford to be patient during the home selling journey, you should not settle for a subpar offer to purchase your house.

When it comes to establishing a home selling timeline and determining how to price your residence, hiring a real estate agent may be beneficial. A real estate agent understands what it takes to sell a home, regardless of the current housing market's conditions. As such, he or she will work with you to ensure you can price your home competitively.

For those who want to streamline the home selling journey, it typically helps to start with a competitive initial asking price for your house. If you consider the aforementioned factors, you can boost the likelihood of pricing your home appropriately from day one of the house selling journey.




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Posted by Robin V. Wish on 2/3/2020

The amount of time it takes to find the perfect residence varies from buyer to buyer. In some instances, a buyer may fall in love with the first residence that he or she views in person. Or, in other cases, a buyer may need to attend several home showings and open house events before he or she finds the right residence.

It ultimately may take more than a single day to find your dream residence. Lucky for you, we are here to help you streamline your quest for your dream house and ensure you can find the right home faster than ever before.

Now, let's take a look at three tips to help you accelerate your search for your ideal house.

1. Create a List of Homebuying Criteria

You know you want to buy a home as quickly as possible. With a list of homebuying criteria at your disposal, you'll be better equipped than ever before to discover a house that suits you perfectly.

Think about where you'd like to reside and the features you want in your dream house. Then, you can narrow your house search and move one step closer to finding a residence that matches or exceeds your expectations.

2. Get Your Finances in Order

Pre-approval for a mortgage can make a world of difference, particularly for a buyer who wants to speed up his or her home search. If you learn about all of your mortgage options, you can select a mortgage that complements your finances and enter the real estate market with a mortgage in hand.

Many banks and credit unions employ friendly, knowledgeable mortgage specialists. By meeting with various financial institutions, you can learn about a broad array of mortgage options. Plus, you can receive comprehensive insights into fixed and adjustable-rate mortgages and make an informed mortgage selection.

3. Collaborate with a Real Estate Agent

For those who want to quickly and effortlessly find their dream residence, it may be beneficial to collaborate with a real estate agent. In fact, a real estate agent can help a homebuyer remove the guesswork commonly associated with searching for a residence.

A real estate agent understands what it takes to discover a great residence at a budget-friendly price. First, he or she will meet with you and learn about your homebuying goals. A real estate agent then will put together a personalized homebuying strategy. Next, a real estate agent will help you put your homebuying strategy into action. And when you discover your dream residence, a real estate agent will help you submit a competitive offer to purchase this house.

As you get ready to conduct a house search, you may want to hire a real estate agent soon. If you have an expert real estate agent at your side, you can get the help you need to find your dream house. Best of all, a real estate agent will go the extra mile to ensure you can seamlessly navigate all stages of the property buying journey.




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Posted by Robin V. Wish on 1/27/2020

For those who want to sell a house, it helps to plan ahead as much as possible. By doing so, you can identify potential home selling hurdles and address such problems.

To better understand how to prepare for the house selling journey, let's take a look at three questions that every home seller needs to consider before listing a residence.

1. What is my home worth?

What you originally paid for your house likely is very different from your home's current value. Fortunately, a home appraisal makes it simple to receive an accurate property valuation based on the current condition of your residence and various real estate market factors.

A home appraisal report generally can be prepared in just days. To obtain this report, a home seller will need to hire a property appraiser to analyze his or her residence. Also, a property appraiser will evaluate the current state of the real estate market, the prices of comparable residences that recently sold and other relevant housing market data.

Once you receive a home appraisal report, you can establish a competitive initial asking price for your residence. And with this price in place, you may be able to speed up the home selling journey.

2. Is my home an attractive option?

Think about what sets your house apart from others Ė you'll be happy you did. Because if you can differentiate your residence from the competition, you may be able to stir up lots of interest in your house as soon as it becomes available.

Oftentimes, it is beneficial to conduct a house inspection prior to listing a home. An inspection enables you to identify any underlying problems with your home. You then can prioritize and complete home repairs based on the inspection results.

You may want to allocate time and resources to bolster your house's curb appeal too. Remember, your home only gets one chance to make a great first impression on prospective buyers. If you enhance your residence's curb appeal, you can boost the likelihood that potential buyers will immediately fall in love with your home.

3. How can I maximize the value of my house?

There is no one-size-fits-all solution to promote a house to buyers. Lucky for you, real estate agents are available who can help you craft a custom home selling strategy.

A real estate agent is a home selling professional who understands what it takes to promote a house to the right groups of buyers. He or she will work with you throughout the home selling journey and do everything possible to ensure you can optimize the value of your house.

Best of all, a real estate agent is an expert home selling resource. And if you ever have concerns or questions as you sell your house, a real estate agent can respond to them at any time.

Want to streamline the home selling process? Hire a real estate agent today, and you can move one step closer to listing and selling your house.




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Posted by Robin V. Wish on 1/20/2020

Image by Mohamed Hassan from Pixabay


When it comes to selecting a home, every situation is a little different. Do you purchase a house because of its size or is the location more important? Both factors play a crucial role in determining your choice, but the unique details in your life can help you decide which is more important. 

When realtors talk about a home, they often stress the importance of location. However, if you are newlyweds starting a family and you want to buy a home on a tight budget, you might favor the size of the house over the location. On the other hand, if your purchase is to build your portfolio or to be your forever home, location might matter more than size. When considering size versus location, let the steps below guide you.

Sacrificing Location for Size

While location is important, you may need more space for a home office, a workshop, or a large play area. If that is the case, consider size over location. If home size is your focus, the location doesnít need to be trendy. Choose size over location for these reasons:

  • You Have Children: If you have children, itís preferable to search for a bigger home. Looking for a larger house in many cities might mean you move to areas where you can get better value for your money. While these areas might not be your dream neighborhood, or ideal for your work commute, they may be a great place to begin a family. 

  • You Have A Large Household: If you have a large family or have multiple adults in the same household, you may be looking for additional space for everyone. A bigger house means you could add play space for your kids, a lawn for your pet, office space, more bathrooms, and outdoor space. 

  • You Need More Space for Guests: If you often have people coming to stay with you; your in-laws, friends, or family members ó then having more space or guest room will improve your quality of life. Finding a larger home that meets your housing needs is important, and if having room for guests fills you with joy, then size is important.

Choosing Location over Size

  • You Plan to Rent Out Your House: If you are buying your home intending to rent it out either on a long-term lease or as a holiday rental, your choice of location plays a vital role. Proximity to points of interest and public transportation determine your rentalís demand and supply, and it will have a significant effect on your profit. 

  • You Have Kids That Are Still in School: If you have school-age children, you would want to consider the type of schools available in the area. If there is a specific standard of education you want for your children, ensure you inform your realtor about this before the house hunt process begins. 

  • You Plan to Sell Your House in the Near Future: If you intend selling your home sooner rather than later, you need to be strategic when picking your neighborhood. Location is the crucial factor that affects your resale value ó if you are buying a house intending to sell in an abbreviated time, itís essential you pick an area that will increase your homeís value in the short run. 

Both the location of your home and its size are vital things to look for when house hunting, but your decision on which is more important should be a factor of what you need now. Talk to your realtor about your motivation for buying a home and get their professional advice on what fits your needs the most.







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