Month: April 2021

The housing market has extremely tight inventory and as a result there are often multiple bids on a home. If you find yourself competing with multiple bidders, here are some tips to come out on top and win a bidding war. Preapproval Letter Have a preapproval letter. A preapproval letter shows you are serious and there won’t be trouble getting a mortgage. Without this other bidders will be in a much stronger position. Make A Higher Offer Before doing this, make sure you stay within your budget, but a higher offer is (as common sense dictates) often a key to a winning bid. Your real estate agent can be helpful here to get an idea of how many bids are coming in as well as current market prices in the…

Market Watch - Rates Drop - Housing Red Hot This week we've seen rates drop below 3 percent for the first time in months. Freddie Mac reported the average for 30-year-rate-mortgage was 2.97%. This is the first drop below 3% in months and makes refinancing more attractive. The 15 year rate was nearly 2 and a quarter with Freddie reporting the 15-year fixed-rate average was 2.29% The housing marketing remains scorching hot. Cities are seeing increased activity now as well. Inventories are at extremely low levels which is pushing prices higher as more buyers are entering the market. With inventory so tight and many buyers entering the market, we recommend you consult use for a free qualification to see how much you home you can finance and get a pre-qualification…

A lot of folks want to invest in real estate as a way to build wealth. Here are some basic starting points if this is something you’ve been thinking about. There are two main models that people use when investing in residential real estate – fix and flip or using it as a rental property. Regardless of which one you want to focus on, the old adage of location, location, location still holds. A property in need of TLC in a good neighborhood or an area that is up and coming are great strategies. Build a network and actively research – it’s a good idea to be in touch with a few realtors who can alert you of new listings that are coming to market. You’ll also want to have…

Curb appeal is real, it matters, and it's one of the easiest, lowest cost ways to increase the value and sellability of your home. All those expressions about making a first impression fit houses too! So here are a few tips for boosting curb appeal that can be done in a weekend on a budget. Make an Entrance Your entrance and front door should be inviting. You can repaint, restain or maybe replace the front door. Also plants and flowers can really help, often two pieces on either side of an entryway will help frame the entrance. Lighting Having some lights to frame the house in the evening can really make it pop, so check your garage and porch lights and consider investing in some new ones, there are good…

As we see home prices rise, home buyers (especially first-home buyers) need to determine how they will get funds for their down payment. Traditional loans require a 20% down payment, however there are other programs that do not require this large amount. VA loans require zero down payment, and if you qualify FHA loan down payments can be as low as 3.5% down. If you can’t do 20% many lenders may require private mortgage insurance (PMI) on the loan. Here are typical sources of down payments Savings – If possible, you should start saving for the down payment a few years in advanced. Gift Funds are used by many people as well. A friend, relative or employer may help you with assistance towards the down payment. If you do this,…