Tuesday, November 13, 2018 / by Karin Head
Over the past few years, two trends have emerged in the housing market:
Home renovations have shot up
Inventory of homes available for sale on the market has dropped
A ‘normal’ housing market is defined by having a 6-month supply of homes for sale. According to the latest Existing Home Sales Report from the National Association of Realtors, we are currently at a 4.4-month supply.
This low inventory environment has many current homeowners worried that they would be unable to find a home to buy if they were to list and sell their current houses, which is causing many homeowners to instead renovate their homes in an attempt to fit their needs.
According to Home Advisor, homeowners spent an average of $6,649 on home improvements over the last 12 months. If that number seems high, it also includes homeowners who recently bought fixer-uppers.
A new study from Zillow asked the question,
“Given a choice ...
Tuesday, November 6, 2018 / by Karin Head
The lack of existing inventory for sale has forced many homebuyers to begin looking at new construction. When you buy a newly constructed home instead of an existing home, there are many extra steps that must take place.
To ensure a hassle-free process, here are 5 tips to keep in mind if you are considering new construction:
1. Hire an Inspector
Despite the fact that builders must comply with town and city regulations, a home inspector will have your best interests in mind! When buying new construction, you will have between 1-3 inspections, depending on your preference (the foundation inspection, the pre-drywall inspection, and a final inspection).
These inspections are important because the inspector will often notice something that the builder missed. If possible, attend the inspection so that you can ask questions about your new home and make sure the builder fixes any problems found by the inspector.
2. Maintain good communication with your builder
Starting with the pre-cons ...
Tuesday, October 23, 2018 / by Karin Head
In today’s real estate market, with low inventory dominating the conversation in many areas of the country, it can often be frustrating to be a first-time homebuyer if you aren’t prepared.
In a recent realtor.com article entitled, “How to Find Your Dream Home—Without Losing Your Mind,”the author highlights some steps that first-time homebuyers can take to help carry their excitement of buying a home throughout the whole process.
1. Get Pre-Approved for a Mortgage Before You Start Your Search
One way to show you are serious about buying your dream home is to get pre-qualified or pre-approved for a mortgage before starting your search. Even if you are in a market that is not as competitive, understanding your budget will give you the confidence of knowing whether or not your dream home is within your reach.
This step will also help you narrow your search based on your budget and won’t leave you disappointed if the home ...
Tuesday, October 16, 2018 / by Karin Head
Buying a home can be intimidating if you are not familiar with the terms used during the process.
To start you on your path with confidence, we have compiled a list of some of the most common terms used when buying a home.
The best way to ensure that your home-buying process is a confident one is to find a real estate professional who not only puts your family’s needs first, but will guide you through every aspect of the transaction with ‘the heart of a teacher.’
Tuesday, October 9, 2018 / by Karin Head
Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for the entirety of America’s existence.
Realtor.com reported that:
“Buying remains the more attractive option in the long term – that remains the American dream, and it’s true in many markets where renting has become really the shortsighted option…as people get more savings in their pockets, buying becomes the better option.”
What proof exists that owning is financially better than renting?
1. In a previous blog, we highlighted the top 5 financial benefits of homeownership:
Homeownership is a form of forced savings.
Homeownership provides tax savings.
Homeownership allows you to lock in your monthly housing cost.
Buying a home is cheaper than renting.
No other investment lets yo ...