The Costs Associated With Selling

  Here are the extra costs and fees associated with selling your home.​ When I go on listing appointments, I sit down with the seller and go over an estimated net sheet, which contains the fees associated with selling their home. I’m always surprised when sellers that have interviewed other real estate agents don’t know about the associated costs of selling, so today I’m sharing them with you. Four fees depend upon your sale price. The first two are the largest: 2.5% of the purchase price for the buyer’s agent and 2.5% for your listing agent’s commission. The other two are escrow and title insurance fees, which change depending on your final sales price. You’ll also have a county transfer tax fee that’s a percentage of the sales price, which you’ll pay to the county so they’ll transfer the property taxes to the buyer. Some houses are within homeowners associations, and they also charge fees for transferring your HOA account to the buyer, printing out the CCNRs, and providing a copy to the buyer; all this comes to about $250. You may also negotiate to pay for home warranty fees for the buyer, which cost anywhere between $400 and $800 depending on the size of the property. These are fees the seller usually pays for as a sign of good faith, but in some competitive markets, they’re countered out of the deal. Home warranties cover the main systems of the house such as the roof, water heater, heating and air conditioning, plumbing, and a few other things. If you have further questions about the costs associated with buying or selling a home or anything else real estate-related, please feel free to reach out to us via phone or email. We would love to help you.

5 Things Homebuyers Should Avoid When Writing an Offer

  Don’t make these mistakes when trying to buy a home. Competition is fierce among buyers in today’s market, which means that you’ll need to be able to submit an offer that truly stands out. However, this doesn’t mean just adding more money to your bid. The highest offer doesn’t always win, and there are five key reasons why:1. Too many contingencies: Shortening contingency periods or removing contingencies altogether can help your offer stand out.2. Inflexibility: If buyers aren’t flexible during the selling timeline, the seller may pass them by. The more flexible you are, the more likely you are to get your offer accepted. "Try your best to get too attached to your offers; it’s common to lose in these competitive market environments." 3. Not being personable: If the buyer or their agent is abrasive, the seller will move to other, friendlier prospects. Sellers want to work with friendly buyers to ensure the entire process is smooth and painless. Additionally, seller’s agents are more likely to do business with agents they have a relationship with, so find a Realtor with good connections.​4. Other buyers are offering cash and few contingencies: In real estate, cash offers are king. Cash buyers can skip appraisals, loans, and a variety of contingencies, but a traditional, financed buyer cannot.5. Asking for things that aren’t for sale: If the seller says an appliance or other item isn’t for sale, listen to them. Avoid asking to purchase it or include it in the sale.Though it’s a tough market, these tips can help you avoid making mistakes when writing your offer. Additionally, try your best to get too attached to your offers; it’s common to lose in these competitive market environments. If you keep putting in offers, though, you’re bound to find the perfect home eventually. Perseverance is key. ​If you have any questions or would like more information about buying or selling, feel free to reach out to me. I look forward to hearing from you soon.

3 Reasons the Market Will Stay Strong Through 2022

  There are three reasons our market will stay strong into 2022.  Here are the three reasons why I believe the real estate market will stay strong into 2022: 1. Historically low inventory. Compared to 2011, which had 9.5 months’ worth of inventory, we only currently have one month’s worth. For us to be considered a buyer’s market, we’d need over eight months’ worth of supply. As you can see, we’ll remain a seller’s market well into 2022.  "With the market strong and rates still low, now’s the time to move." 2. Historically low interest rates. These interest rates are fueling first-time buyers such as millennials. Since this is the largest demographic, we don’t see the market slowing down anytime soon. What if interest rates rose? If you were to get a 3% interest rate right now on an $800,000 house, your monthly mortgage payment would be about $4,200 (along with property taxes and insurance). If rates rose to 4%, you’d only be able to buy a $730,000 house with that same $4,200 monthly payment. Even though prices are strong, these low rates are offsetting your monthly payment, thereby making it a great time to buy. ​3. Out of the last five recessions, the real estate market has only been affected twice. Both times were in cases of major economic crises. One, as we all remember, was the 2008 crash. The other was the savings and loan crisis back in the 1990s. During the other three recessions, the market actually continued to appreciate. With the market strong and rates still low, now’s the time to move. If you’d like to take advantage of our current market or have any real estate questions at all, don’t hesitate to reach out to me. I’d love to help.

Answering 4 Common Buyer Questions

  Here are the answers to four excellent buyer questions we were asked. Last week we held our homebuyer seminar, and today I’m addressing four of the great questions we were asked:1. Do I pay the buyer’s agent for representing me? No, the seller pays the commission for both the listing agent and the buyer’s agent. 2. Do I have to pay a lender when asking about a pre-approval? No, it’s free to speak to a lender about getting pre-approved. It’s a wonderful idea to ask a lender about pre-approval, even if you aren’t quite ready to buy yet. They can provide useful information about how to organize your finances to get pre-approved for the most money possible when the time comes.3. How much money do I need to purchase a home? You’ll need your down payment and 1% to 1.5% of the purchase price for closing costs. Closing costs consist of the escrow title fee, any lender fees, any impounds for your mortgage payment, homeowners insurance, and if you’re in an HOA, it will include that first payment. ​Ask a lender about pre-approval, even if you aren’t quite ready to buy yet. 4. Should I contact an agent even if I’m not ready to buy yet? Yes, we help many clients prepare to purchase a home for over a year before they’re ready to truly buy. You can always reach out to us for free, with no commitment, to help you through the process. The process can be complicated, but we’re here to serve you. ​Please feel free to reach out to us via phone or email with any questions you have. We would love to be your real estate resource.