Exterior of an American Luxury Wooden House

Bigger isn’t always better, but when you have less than an inch of storage space left and more family members than bedrooms, bigger is better.

People generally start shopping for a bigger home once they’ve outgrown their current one instead of before, making their need for more space urgent. As your family grows, your house needs to too. Some people look for more square footage while others are simply in need of more rooms and may feel comfortable with the same square footage. It is likely, whether you’re looking for one vs. the other, that you’ll need to pay more to get what you need. It’s not very often that you can upgrade without spending more money.

The right mortgage will help determine what you can comfortably afford. If you’re only planning on living in your new home for a few years you should consider an adjustable rate mortgage. This type of mortgage will save you money with an interest rate that is guaranteed for the length of your mortgage loan. This will keep extra cash in your budget for all of life’s necessities.

The other option is a fixed-rate loan that will come with a higher interest rate. The upside to this type of loan is that it locks in your payments throughout the life of your loan.

Before you even start looking you need to get pre-qualified. You should be proud of yourself for qualifying for your existing mortgage, but with upsizing also comes stronger requirements. The risk that the lender is taking on is their biggest concern. Credit scores and collateral are big factors in whether or not you’ll be approved for a larger loan.

The good news is that the housing market is continuing to improve. Interest rates are dropping, making for lower monthly payments. If you’re ready for an upgrade don’t delay. Begin the process, get pre-approved and start looking for your new dream home today.

Realtor consulting young couple about buying flat

Staging your home gives you a leg up. The all-important first impression shouldn’t be underestimated. It’s that first impression that could seal the deal or make buyers cringe.

It’s important to show your property in its best light, so when staging your home, be aware of these common mistakes.

Old Furnishings:

Rearranging past-its-prime furniture doesn’t fix this dilemma. If you’ve been waiting for a good reason to replace your old couch or spotted rug, now is the time.

Old, dingy and stained furnishings are as unappealing as leaving piles of dirty clothes out for potential buyers to step over.

Themes:  

This can be done by minimizing a theme as much as possible.

It’s important to view home staging from the buyer’s point of view. Buyers need the freedom to visualize themselves in your home. Professional home stagers understand this and make it their goal to convey to buyers that they can live comfortably in a home.

It’s common for home owners to take a theme and run with it. Naturally, if you like animal patterned furniture; it will likely be a regular occurrence throughout your home.

Missed Staging Opportunities:  

If your home is too full of furniture and knickknacks to make the right impression, and there’s no room to hide the overflow of clutter, consider renting a storage unit. Yes, it’s an extra expense, but it can potentially help you sell your home significantly faster.

Staging isn’t a one room job. You have to stage every room in your house. Remember, the living room alone doesn’t sell a buyer on a particular house. They’re looking for the whole package.

When staging your home, leave no stone unturned. A perfectly staged living room will be quickly forgotten when a buyer opens a closet door and toys spill all over the floor.

Woman hands typing email on laptop keyboard

This week fixed mortgage rates for 30-year fixed mortgages fell according to Zillow. The national current rate borrowers are being quoted in Zillow Mortgages is 3.75 percent which is down 8 basis points in comparison to the same time last week.

The 15-year fixed mortgage rates also flexed a bit, going from 2.92 percent to 2.72 percent.

For those of you who are in our home state of Florida, the market average for 30-year fixed rates is 3.87 on Zillow’s mortgage rate trends.

With Zillow’s mortgage calculator you can estimate your monthly mortgage with the following info: the home price, down payment amount, and interest rate. Your estimate will include insurance, and taxes.

Remember, as helpful as this tool is, you can’t know these exact numbers until you sit down with a bank. These are simply estimates to get you started.

The key in the door lock close up

It’s no secret that bad credit can get in the way of buying a home. But bad credit isn’t the only credit problem people face. No credit is another hurdle altogether.

If you’re lucky enough to be debt free and have successfully steered clear of credit cards you’ll unfortunately find that your house buying process comes to a dead stop when you go to obtain a loan.

It’s not a bad way to live life- debt and cc free. However, building your credit means that you need to take advantage of these things you’re trying to avoid.

Why is no credit bad?

No credit can be more troublesome than bad credit. This is because bad credit is already established and can be improved. Having no credit means that you’ve done nothing to establish credit. With no credit score, a lender doesn’t know how well you handle your finances and how trustworthy you are.

Not to say that you aren’t a well-established, hard-working individual. After all, you’ve been fortunate enough to stay free from debt!

Here’s the bottom line… Lenders don’t want to guess. They want to know, without a doubt, that you’re going to be able to pay back your loan.

Even bad credit gives lenders something to work with. Though it does show that you’re likely more of a liability, it still gives the bank an overview of your financial habits.

Here it is… it may be worse to have zero credit than to have bad credit.

Now, we’re not encouraging bad credit. Nor are we saying that you can get the loan you need with bad credit.

So, because good credit is what you need to get the right loan, with the right interest rate, let’s talk credit responsibility.

Plan ahead. Credit can’t be fixed overnight. It takes a bit of time to fix a less than impressive credit score.

If you have debt, pay it off.

If you’ve been avoiding debt and have no credit, go to your bank and apply for a credit card. Through your bank you can connect your credit card to your checking, making it easier to pay the card off.

Be consistent with your credit spending. A spending pattern will help you stay on track.

And whatever you do, don’t close old credit card accounts as this will affect your credit history’s age.

Finally, carry a low amount of debt.

It takes time to both establish credit and fix bad credit, but it’s worth it in the end.

Female broker consulting young couple in realtor office

So you’ve found your dream house and you’re ready to make an offer. You want to make on that fits your budget and also appeals to the seller. So what do you do? How do you pick the perfect starting point?

Below are 4 tips that will help you make your offer a pleasing one. Though these tips won’t guarantee you’ll snatch up the house of your dreams, they will help increase your chances.

1. View listing prices as starting points. Unless someone has a home listed as “firm” (which is a rarity), listing prices are a place to begin negotiations.

When most sellers put a home on the market they’re thinking about how much they have to get for the house, and then adding a little cushion to allow for negotiations.

2. It’s important to talk with your real estate agent and look at comparables. Comparables are similar homes that have recently sold in the area and they will give you a good idea of what the home you’re eyeing is worth.

If you’re thinking about submitting a low offer then you and your agent need to be on the same page. Low offers can get negotiations off to a bad start. You and your agent need to agree on your strategy so that they can confidently go to bat for you when needed.

3. Talk with your realtor about asking for repairs or special requests. Reasonable requests are common in real estate deals. Sometimes buyers simply want the carpet replaced or an incomplete project finished.

However, special requests are risky when you’re in a competitive market where bidding is going on. It’s best to buy a property as it is rather than lose it to another bidder.

4. Asking for covered costs such as the seller paying the closing costs is the same as asking for repairs or making requests. In a competitive market, sometimes these little things aren’t worth discussing if you’re not the only one who wants the property.

If you do decide that you want to ask for closing costs to be covered, make your offer a strong one. A low offer, plus asking for extras will get you off to a bad start with the seller.

Let’s review:

• The listing price is a starting point for negotiations. Stay within a reasonable range of the listing price when making an offer.
• Make special requests only when you’re confident that your contract is the only one on the table.
• Ask for costs to be covered if you’re making a good offer and no one else is trying to outbid you.
• Coming to an agreement is a give and take process. Be willing to give a little here and there- as you’re expecting the seller to do the same.

Your realtor is your greatest advocate and your most reputable source. Let them help guide you through the process.

Home for sale – a sign in front of a brick house

When a seller decides to put their home on the market they’re generally ready to find a buyer as quickly and efficiently as possible. Are you a seller looking for a faster and easier sell? Here are 5 tips that will help you achieve your goals.

1. Curb Appeal We’ve all heard the term but what does curb appeal mean? Basically this…does the outside of your house make buyers want to see the inside? You don’t get a second chance to make a first impression. A nicely cut yard, beautiful landscape, a clean driveway and an inviting porch increase the likelihood that buyers will want to see more. Showing that the exterior of your house is well-kept will lead buyers to believe the entire house is well-maintained.
2. De-Clutter Any clutter in the house (i.e., clothes on the laundry floor, piles of toys, boxes stacked up, messy overstuffed closets, a garage with no room to park a car) gives the impression that the house is small and has no room for storage. Buyers want storage. Generally 85% of buyers are looking to upgrade to a larger home or buy their first home after renting a small apartment. De-cluttering will send the right message. Send unused and/or unneeded items to the nearest thrift store. They will be grateful for the donation and it’s a tax deduction for you. Another tidbit is to pack away personal items, knick-knacks and collectibles. You want the buyer to be able to picture their own things in your house. Allowing buyers to “mentally move in” will get you one step closer to moving out.
3. Deep Clean Do a deep clean (sometimes called Spring Cleaning) or hire a professional cleaning team to make sure everything looks its best. Dust the house from ceiling to floor. Clean windows inside and out. Carpets should be professionally cleaned. Tidy up closets and cabinets. Check light fixtures for dust build-up. Pressure clean the home’s exterior.
4. Go Neutral It is a common thought of sellers not to make interior changes (as in paint, etc.) because the buyers will want to make their own changes. That sounds very logical but the truth is most buyers purchase on emotion, not logic. The buyers are going to walk through your house and have either great feelings about it or not. Approximately 79% of buyers only want to buy homes they can move right into. Follow what builders do. Builders are in the business of selling homes and most of their model homes are very neutral. I suggest buying a little paint and neutralize those outdated colors.
5. Home Inspection and Home Warranty Buyers love to know that this huge purchase they are about to make has had the best care possible and it will continue after they move in. Think like the buyer thinks and you’ll do great with the sale of your house. Consider hiring a home inspector. It’s most likely that the buyer will hire one anyway – but having a home inspection to present to a potential buyer (especially if any needed repairs have been fixed) will give you a leg-up in the market. Being honest about your home’s condition will help you avoid problems with a contract or your closing. Also, consider offering a home warranty. 8 out of 10 buyers prefer to buy a home with a warranty. Homes with warranties return a sales price that averages 3% higher than homes sold without. Homes on the market with a warranty included have been known to sell 50% faster than homes without a warranty.

The most important time in marketing your house is the first 30-45 days. Make sure your house is in its most sellable condition from day one.

Buyer Handing Over Cash for House with Home and For Sale Real Estate Sign Behind.

Home buying should be a fun experience, especially if you’re buying your first home. To make your house shopping as stress free as possible I have 5 tips that will help walk you through the process.

1. First Things First

At first, it seems like an annoyance, unnecessary and too personal, but pre-approval can be your best friend.

Mortgage pre-approval is the place to start your house hunt. Before you begin, contact a mortgage lender and start the process. After you know your qualifications looking for your dream home becomes stress-free. At this point you will be able to speak more confidently to a realtor.

2. Debt-to-Income

One helpful tool that will help determine which loan is right for you is the debt-to-income ratio. The debt-to-income ratio is based on how much you owe in personal debt vs how much you earn. This gives the mortgage lender a good look into how much additional debt you’ll be able to handle- in the form of a mortgage.

To calculate, add your fixed monthly expenses along with your expected mortgage payment which should include principle, interest, taxes and insurance. Then divide that total by your gross monthly income. A common rule is that the ratio should be no higher than 36 percent. Above this might mean a higher interest rate. Most importantly– the lower your debt-to-income ratio the better interest rate and terms your mortgage lender can offer.

3. The Best Agent

Real Estate Agents come with different levels of experience. The best agent is the one you connect with. Interview several agents and ask family and friends for recommendations.

Connection is important to all parties involved. If you like the agent you will probably have an overall better experience. A sincere Realtor will work tirelessly to find you the best home at the best price. Going through the home buying process alone can be frustrating. Let a professional help your dreams come true. This is a huge decision and a seasoned real estate agent will be able to help with the problems that may arise. They do this every day. Keep that in mind.

4. The Hunt

Once you have gone through the above steps, the fun begins. Shopping for your dream home can start from your laptop. However, don’t rely completely on the online pricing and details. I simply have not found any online source that is 100% accurate. Look for the general details. The area you want, number of bedrooms, number of bathrooms, square footage and of course your price range. Then share this information with your agent.

5. The Offer

Once you have found the home of your dreams this is where you will covet the help of a professional agent. Negotiations, down payment, title companies, escrow, appraisal, home inspection, and contingencies (to name a few) can all become sensitive subjects and it is so much better to have a middle man at this point.

Your offer should be based on similar homes sold in the past six months that are comparable to your purchase. The offer should include the price you are willing to pay and your financial terms.

Your Realtor will be able to guide you through the negotiation process with expertise. Happy Hunting!