Comments Off on Is New Construction for You? 3 Questions to Consider
by liz
1. How soon do you need to move into a new home?
If you need to move into something new rather quickly, new construction may not be the best option for you. On average in 2020 it took 7.7 months to complete the construction. With low inventory in existing homes and the high demand in West Michigan, many builders are extremely busy and not able to begin the project immediately so that may add to the wait.
2. Do you like to work on home projects and do-it-yourself?
If your answer is no, new construction may be a good fit. With everything brand new, all of your customizations chosen, and a home warranty you won’t need to do any fixing up for a while.
3. Are you looking for something specific?
If your answer is yes, new construction may be a good option. You’d be able to build something that fits your needs and desires. If you can find land in your desired location, your dream home awaits!
Comments Off on Home Renovations That Bring the Best Return on Investment
by liz
Which renovations or repair job have the best return on investment? Here’s the latest from the National Association of Realtors’ 2019 Remodeling Impact Report:
New roofing 107% ROINew hardwood flooring 106% ROIHardwood floor refinish 100% ROIHVAC replacement 85% ROIInsulation upgrade 83% ROINew steel front door 75% ROINew Garage Door 95% ROI
The yard is definitely part of the first impression but the exterior of the home is just important. I want to share some tips on how to impress potential homebuyers as they drive by and approach your home.
Make sure that the door is in good shape and that they key works smoothly in the lock.
Ensure that the walkway to the front door is a clear path.
The front porch and front door will be the place that home buyers will be spending a fair amount of time as their Realtor accesses the keybox and unlocks the door. If your front porch and door need some love. Paint will do wonders.
Light fixtures should be updated and the appropriate size for the entry.
Add some interest and charm. Colorful plants and a fresh front door mat are 2 ways that this can be achieved.
If there is room on your porch add a bench or chairs accented with pillows to add some dramatic effect.
Looking for more tips? Click here to download my FREE Staging That Sells Guide!!!
There are many terms that are used in the real estate world that are very helpful to when you are buying a home. Below is a list of common used terms in the process.
Active
The property is actively for sale and on the market. The sellers may have received offers but have not accepted any yet.
Back on market
This property was under contract with another buyer and their contract fell through, so it is Active again.
CMA
Comparative market analysis or competitive market analysis. A CMA compares the sales price of similar properties in the area to help determine the price of a property.
Closing costs
The fees that the buyer pays at closing that associated with the homebuying process, such as the appraisal, mortgage fees, title insurance, closing fee, etc.
Contingency
A provision of the contract that keeps the agreement from being fully legally binding until a certain condition is met. For example, the purchase of a home can be contingent upon the buyer selling their home first.
Down payment
The sum in cash that you can afford to pay at the time of purchase. A conventional loan down payment is usually somewhere between 5% to 20% of the sales price, other types of financing require as little as 3.5% to 15%. A mortgage lender can tell you what types of loans you qualify for.
FSBO
For Sale by Owner. Often pronounced “fisbo” The owner of the home has it listed without an agent representation. A Buyer’s agent can usually still show the home, as many FSBOs will agree to work agents representing a buyer.
Interest
A percentage of the principal that you borrowed from the bank.
Pending
The property owner has accepted an offer and are under contract with a buyer. Their agreement may be contingent upon a variety of contingencies: inspections, appraisal, financing, and more. The home is not sold just yet.
MLS
The Multiple Listing Service. The MLS is the organization real estate broker’s use to search for and list properties. They collect, compile and distribute all information about homes listed for sale. Membership isn’t open to the general public, although we do have a public website that we share most of the information on. In West Michigan the website is GRAR.com click here for the link to search.
Title insurance
An insurance policy that protects a mortgage lender’s or owner’s interest in real property from assorted types of fraudulent claims of ownership.
Comments Off on 3 Strategies For Selling Your Home and Buying a New One
by liz
You’re ready to make a move but not quite sure how to juggle it… You currently own the house you are in and have equity that you’d like to use towards buying new one. How do you make this all work??
This is a common scenario that many homeowners face when deciding to move. There a few strategies to use to accomplish this:
1. Sell First. List your current home then look for a new one once your home is under contract.
2. Buy First. Buy your new home (cash, bridge loan, new mortgage), then list and sell your current home.
3. Buy and Sell Simultaneously. Look for a new home. Once you find the right home, write an offer contingent upon you selling your home. If your offer is accepted, list and sell your home.
Which way is best for you? Feel free to reach out to schedule a NO obligation consultation!!
Comments Off on Staging Tips #1- Yard and Landscaping
by liz
First impressions are everything and your exterior of your house is no exception. When buyers are choosing which homes they want to see the main photo (which is the front photo of your home) on the listing must grab their attention. The same goes when they are just driving by and see the sign in the yard. If your exterior doesn’t impress them, they may not bother to see what the inside has to offer.
So how do you make sure that your exterior screams “Come on inside, I’m awesome!!!”? Here are are some tips that I’ve learned through staging classes, experience and research.
When I was watching one of those not so reality flipping shows one of the investors said, “you can’t sell it if you can’t see it.” This saying sums it up perfectly. If you have trees, bushes, vines, etc. blocking the front of your house, they need to go. Trim trees, remove or cut back overgrown bushes, take down climbing vines, etc. Make sure there is a clear walkway to the front of the house and that the numbers on the house are clearly visible. Buyers want to see the house not look for it under overgrown landscaping.
The yard is very important. Make sure that is given extra care when preparing your house to go on the market. Use weed killers, water regularly and use fertilizer. When cutting the grass, try cutting it on an angle. This will help the yard appear larger.
When sprucing up the landscaping keep these tips in mind.
Use black mulch. This color is more dramatic and enhances most exterior colors.
Remove all yard art. These items can be distracting and are usually personalized to the current owner.
Clean out all leaves from gutters and landscaping.
Remove all dead or dying plants.
Hide trash bins, hoses, etc.
Hide the foundation using landscaping.
Make sure that all pet messes are cleaned up promptly and the unsightly urine spots in the grass are taken care of.
Looking for more specific tips for your home? Contact me today and I’d be happy to set up a home seller consultation!
Comments Off on 6 Reasons Why December is a Good Month to Buy a Home
by liz
Most people are not excited about the thought of buying a home in December. The weather is less than ideal for moving and it’s such a busy season for events with friends and family.
Here are 6 reasons why you should consider buying a home in December:
1.Sellers are highly motivated. People who are listing their homes in December are usually on a timeline. They may be relocating for work, wanting to move over the school break, or need to sell their home before the end of the year.
2.You have less competition. Listings do go down in December, but many buyers also take a break during the holiday season. So while the overall number of homes available might be lower, you also have less competition looking.
3. You can get a better price. Motivated sellers and fewer lookers means you can make a better deal. If your seller needs to make a move before the end of the year, they will be willing to work with you on all other terms besides closing date.
4.Rates are staying low. Mortgage rates are forecast to remain low through the end of this year, and into 2021, so it’s a good time to buy.
5. Take advantage of tax benefits. If you close on your home purchase by December 31st, you can take tax deductions for mortgage interest, loan points, and property taxes.
6.Schedules are more flexible. You might think December is too busy a month for moving, but most people tend to have more flexible schedules in December. Children’s activities are suspended, work schedules are more lax, for both you, your sellers, as well as your lender, home inspector, and moving companies, so scheduling all the parts of your transaction and move may actually become easier.
I’d love to help you find your next home. Let’s make your holiday wishes come true!
Comments Off on Why a Home Buyer Consultation is so Important to the Process
by liz
As exciting as it is to start looking for homes, it not the best way to begin the process. Why?
Because the Home Buying Journey is much more complicated and stressful than the simple purchasing decisions that we make on the day to day basis.
The Home Buyer Consultation has many benefits.
It is a chance for me to learn the full picture of what you are looking for, what type of home will work for your lifestyle and what your goal time frame is for purchasing and moving into your new home.
It is a chance for us to discuss what the current market is like. Is it a sellers’ market where buyers are competing for homes? A buyers’ market where buyers have many options and have more negotiating power? Maybe the market is pretty balanced ? So many have so many people have opinions on the market, but if they’re not in it on a daily basis in a professional capacity they’re not likely to provide the most reliable advice. (Uncle Johnny means well and loves you but he may not be the one to go to for real estate market advice when he hasn’t bought a home since 1995.) I have been through all types of markets throughout the years and have the experience to advise you on the current market.
In this consultation we can narrow down the most important “must haves” that will fit your budget. Is your list of home features that you are looking for a mile long? Maybe you have no idea where to begin making a list? I’ll help you through this.
We will also talk about the best way for you to purchase. Have you saved up cash? Should you get a mortgage? What type of mortgage should you talk to a mortgage lender about. Getting pre-approved is definitely important, but not necessary for you to schedule a consultation. I have many great local lenders that I can refer you to when you are ready to get the process started.
We will come up with a game plan to reach your home ownership goals and find the “right home” for you.
Are you ready to at least explore the option of buying a home? Click here to schedule a consultation and let’s get started!!
Comments Off on Buying Your First Home? Things You Should Know
by liz
I love working with first-time home buyers. Helping you find your first home, learn the home buying process, and guiding you from house-hunting to move-in day gives me such joy! Here are three things you should know before you start looking.
Work with one Realtor. It’s best to have one agent who is helping you with your search. Your agent will be dedicated to finding you the right property, and then negotiating on all the terms of your transaction on your behalf. You want that person to get to know you and your family’s needs and preferences, rather than starting over with someone new each time you go look at a house. Keep in mind that the agent who shows you a home is, ethically, the one who should continue the transaction. Also, when you call an agent from a yard sign or advertisement, you are dealing with the seller’s agent. While most real estate professionals are adept at handling both sides of a transaction professionally, it makes more sense to deal with someone you have already taken time to get to know and who has your best interests at heart as the buyer. You aren’t paying your agent; unless otherwise stated, he or she is paid by the seller upon closing. Still, you are hiring someone to work for you, so feel free to interview multiple agents and pick the one that you feel fits you best.
You need to be pre-approved for financing. Unless you are paying cash for your home, you do need to talk to a lender before you start looking at houses. One reason is that it helps you set an accurate price range for house hunting. Looking at homes that you can’t afford to make an offer on just leads to frustration. A mortgage lender will not only tell you what amount you can borrow, but also your projected monthly payment, your closing costs, and what you should or shouldn’t do with your finances to maintain your eligibility throughout the lending process. Another reason for having an up-to-date pre-approval in hand is so you don’t lose out to another buyer. If you find the perfect house, you will want to get an offer in before someone else gets it, and that pre-approval letter must accompany your offer. I would be happy to provide you with names of mortgage lenders in our area who have provided excellent service to my clients.
There are some up-front costs. When you find the right house, and you and the seller have agreed on the price and terms and have signed the contract, you will first need to make your earnest deposit, or “good faith” deposit. This is money you are risking if you back out of the deal for reasons not protected in the contract. Usually it is between 1% and 5% of the sales price but can be more or less depending on what you and the seller agree to in the contract. Your agent will help you with this during negotiations. The earnest deposit will go towards your down payment at closing.
Next, you should have an inspection of the property done by a certified home inspector. This cost varies depending on the size, condition, age, and features of the home, but is usually a few hundred dollars. You will need to pay this at the time of service. You may elect to pay for other inspections based on the results of the initial inspection. For example, if the inspector notes an issue with the HVAC system, you may need to pay a service fee for an HVAC contractor to look at the system. You want to get as much information during your inspection period as you need to confidently move forward with the purchase.
An appraisal of the property will be ordered, usually this is paid out of your application deposit with the mortgage company.
I will guide through all of these steps throughout your home buying journey. Ready to get started? Schedule a no obligation consultation today!!
You love gallery walls, and you have the perfect space for one. But you’re terrified of messing it up. You need someone (anyone!) to hold your hand. Great news! Help is here.
Start with the art. Vintage, modern, or flea market finds—anything goes!
Choose like-colored frames and mats. Going eclectic? Different shades of wood nail the look.
Lay frames out on the floor and try several arrangements before choosing your fave. Snap a pic to use for reference as you hang.
Grab a level to place your first pic. If you don’t, all your work may end up on a slant.
After getting your first pic just right, use painter’s tape to mark equal amounts of space between the rest of the frames. Two inches is a good place to start. Ready to give it a go? You can do it! There’s no doubt a gallery wall will completely transform your space.
