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Posted by New Age Real Estate on 3/9/2018

Purchasing a home in a seller's market may prove to be difficult. Fortunately, we're here to offer expert guidance to ensure you can find the best house at the lowest price, regardless of the present real estate sector's conditions.

Now, let's take a look at three tips to help you get ready to pursue a home in a seller's market.

1. Assess the Housing Market Closely

A seller's market likely features a shortage of high-quality houses. As such, you'll want to analyze the local real estate sector closely so you can identify your dream home faster than ever before.

Take a look at the prices of recently sold houses in your city or town. This information can help you understand the average price range for homes of all sizes in your area. You also should find out how long these homes were available before they sold to understand the current pace of the real estate market.

Furthermore, you should make a checklist of home must-haves and wants. Once you craft this checklist, you can assess the houses available in your city or town and map out your homebuying journey accordingly.

2. Get Pre-Approved for a Mortgage

In all likelihood, you'll need to act fast to acquire your ideal residence in a seller's market. If you have a mortgage in hand when you submit a home offer, you may boost your chances of receiving a "Yes" from a seller.

A home offer that is contingent on a buyer's approval for a mortgage often is far from ideal. If a seller receives this type of offer, he or she may be reluctant to accept it, as there are no guarantees a buyer will be able to obtain the necessary financing to acquire a home.

Comparatively, a buyer who gets pre-approved for a mortgage can enter a seller's market with a budget in hand. And if he or she finds a great house, this buyer can submit an offer without having to worry about getting financing at a later time.

To get pre-approved for a mortgage, you should meet with a variety of lenders. These financial institutions can teach you about a wide range of mortgage options and help you find the right mortgage based on your finances.

3. Collaborate with a Real Estate Agent

A seller's market can be tough to navigate, regardless of whether you're a first-time or experienced homebuyer. Thankfully, real estate agents are available who can guide you along the homebuying journey.

Typically, a real estate agent will learn about your homebuying goals. He or she then will keep you up to date about houses that meet your criteria, set up home showings and help you submit offers on residences. And if you ever have homebuying concerns or questions, a real estate agent is ready to respond to them at any time.

Prepare to buy a house in a seller's market use the aforementioned tips, and you can move one step closer to acquiring your dream residence.

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Posted by New Age Real Estate on 2/16/2018

As a homebuyer, it is easy to envision finding the perfect house, submitting an offer on it and acquiring it right away. However, it is important for buyers to consider the worst-case scenarios as well.

A buyer who understands the worst-case scenarios that he or she may encounter during the homebuying journey can plan accordingly. That way, this buyer will be better equipped than others to avoid various homebuying worst-case scenarios altogether.

Now, let's take a look at three common homebuying worst-case scenarios, as well as how buyers can avoid these situations.

1. You find your dream home, but it falls outside your price range.

If you enter the housing market without a mortgage in hand, you may need to act quickly to acquire the necessary financing to purchase your dream house. But once you kick off a search for a mortgage, you may find that the cost to acquire your dream home falls outside your budget.

When it comes to getting home financing, it often helps to be proactive. Fortunately, if you meet with banks and credit unions before you launch a home search, you can determine exactly how much money you can spend on a residence.

Banks and credit unions employ friendly, knowledgeable mortgage professionals. With these mortgage experts at your side, you should have no trouble getting pre-approved for a mortgage at your convenience.

2. You discover a wide range of problems during a home inspection.

A home inspection likely will be completed in the days after a seller accepts your offer on a residence. And in some instances, an inspection may force you to reconsider whether you want to purchase a house.

If you encounter problems during a home inspection, you still have lots of options. You can ask a seller to perform assorted home repairs or reduce your offer. Or, you can walk away from a home sale and restart your home search.

For homebuyers who are worried about any problems that they encounter during a home inspection, it is paramount to look closely at all of the aforementioned options. By doing so, you can make an informed decision about whether to proceed with a home purchase or reenter the housing market.

3. You employ a real estate agent who fails to help you achieve your homebuying goals.

Many real estate agents are available in cities and towns nationwide. But if you fail to conduct an extensive search for the right real estate agent, you may struggle to accomplish your homebuying goals.

When choosing a real estate agent, you should learn about this housing market professional's industry experience. It also helps to meet face-to-face with a real estate agent and discuss your homebuying goals with him or her. This will enable you to determine whether you're comfortable working with a particular real estate agent.

Enjoy a quick, stress-free homebuying experience consider the aforementioned worst-case homebuying scenarios, and you can minimize the risk of potential pitfalls throughout the homebuying journey.

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Posted by New Age Real Estate on 12/29/2017

An open house allows a homebuyer to explore a residence. And ultimately, this event may help a homebuyer determine whether to submit an offer on a home. For homebuyers, there are many terrific reasons to attend an open house, including: 1. You Can Learn About a Home from a Home Seller's Real Estate Agent. Although you may spend time reviewing home listings online, there may be information about a house that is unavailable on the web. Fortunately, an open house enables you to speak directly to a home seller's real estate agent and find out more information about a residence. From learning whether a home seller is motivated to sell quickly to finding out which internet services providers are available in the area, a home seller's real estate agent should be able to answer any questions you may have during an open house. As a result, you can receive plenty of insights that can help you make an informed decision about whether a particular residence is right for you. 2. You Can Check Out the Overall Condition of the Home. Online photos sometimes can be deceiving, but an open house allows you to get an up-close look at a residence and find out if it fulfills your personal needs. For instance, an open house will enable you to check out the size of each room as well as the overall condition of the home's exterior and interior. Plus, you may be able to review the performance of a home's air conditioning and heating systems and find out if these units will need to be repaired or replaced in the near future. Perhaps best of all, an open house gives you the chance to envision what life could be like if you bought a residence. Because you can walk around the home and explore it at your leisure during an open house, this event provides you with the freedom to evaluate a residence in a pressure-free situation. 3. You Can Find Out if There Is Significant Interest in a Home. Typically, a home seller's real estate agent will set up a sign-in sheet for attendees who visit an open house. This sheet enables a home seller to see how many people attended an open house and may provide you with a good indication about whether there is substantial interest in a residence. It is important to remember that the housing market is competitive, regardless of whether you're searching for a residence in a buyers' or sellers' market. As such, if an open house is filled with people, there likely is significant interest in a house. And if only a few people attend the event, there may be a greater chance that a home seller would accept an offer below his or her initial asking price. Ask your real estate agent for information about open houses in your area you'll be glad you did! This real estate professional will be able to keep you up to date about open houses and help you find your dream home quickly and efficiently.

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Posted by New Age Real Estate on 12/8/2017

An open house can be a life-changing event for a homebuyer. If you plan ahead for an open house, you should have no trouble determining whether a residence matches or exceeds your expectations. And if the answer is "Yes," you can proceed quickly to submit a competitive offer to acquire a house.

What does it take to prep for an open house? Here are three open house preparation tips that every homebuyer needs to know.

1. Understand Your Budget

Before you attend an open house, you should find out how much money is at your disposal. Thus, you may want to meet with banks and credit unions to see if you can get pre-approved for a mortgage. That way, you can kick off your home search with a budget in hand.

Although you know that you have only a certain amount of money to spend on a residence, it may be worthwhile to consider attending open houses for residences with initial asking prices that are above your price range. Because in some instances, a home seller may be willing to accept an offer that falls below his or her initial asking price.

2. Create a List of Questions

A home is one of the biggest purchases that a person can make, and as such, it pays to be diligent. If you craft a list of questions before an open house, you can get immediate responses from the showing agent. Then, you can determine the best course of action.

When it comes to an open house, there is no such thing as a "bad" question. As a homebuyer, it is paramount to get as much information as possible about a residence to determine whether a house is right for you. Therefore, if you create a list of questions in advance, you can improve your chances of getting the most out of an open house.

3. Consult with a Real Estate Agent

If you're uncertain about how to approach an open house, you're not alone. Fortunately, real estate agents are available nationwide who are happy to teach you the ins and outs of the real estate market. By doing so, these housing market professionals will make it easy to take an informed approach to any open house, at any time.

A real estate agent will always keep you up to date about new residences as they become available. Also, if you are interested in homes in a particular city or town, a real estate agent will notify you about open houses in this area. And if you need extra help prepping for an open house, a real estate agent is happy to assist you in any way possible.

Let's not forget about the support that a real estate agent provides throughout the homebuying journey, either. A real estate agent will help you submit an offer on a house, negotiate with a seller's agent on your behalf and much more.

Be diligent as you get ready for an open house use the aforementioned tips, and you can fully prepare for an open house.

Posted by New Age Real Estate on 10/13/2017

Submitting a "fair" offer on your dream home may seem difficult, particularly for a first-time homebuyer. Lucky for you, we're here to help you determine what it takes to submit a fair offer on a home that increases the likelihood that a home seller will accept your proposal without delay.

Now, let's take a look at three tips to ensure that a first-time homebuyer can submit a fair offer on a house.

1. Study the Housing Market Closely

Are you preparing to submit an offer in a buyer's market or a seller's market? Ultimately, the current state of the housing market may help you define a fair proposal based on the sector's conditions.

For example, a buyer's market frequently includes an abundance of top-notch residences and a shortage of homebuyers. In this market, you may be able to submit an offer at or below a home seller's initial asking price and receive an instant "Yes."

On the other hand, a seller's market usually features a shortage of high-quality houses and an abundances of homebuyer. As such, you may need to submit an offer at or above a home seller's initial asking price if you want to secure your dream residence.

For first-time homebuyers who analyze the housing market closely, they should be able to differentiate between a buyer's market and a seller's market. That way, a first-time homebuyer can determine fair market value for a residence and submit an offer that corresponds to it.

2. Evaluate Your Homebuying Budget

There is no need to overspend for a house, regardless of the current housing market's conditions. But with a homebuying budget in hand, a first-time homebuyer can resist the urge to pay too much to acquire an outstanding residence.

Getting pre-approved for a mortgage often provides a great option for those who are uncertain about how much they can spend on a home. This budget will enable a homebuyer to narrow his or her home search based on the finances at his or her disposal.

Meet with a variety of banks and credit unions to learn about all of your mortgage options. Then, you can select a mortgage that matches your budget and move one step closer to acquiring a terrific residence.

3. Work with a Real Estate Agent

A real estate agent is a must-have for a first-time homebuyer, and for good reason. This housing market professional can teach you about the intricacies of buying a house and help you submit a fair offer on a residence any time you choose.

Furthermore, a real estate agent will guide you along each stage of the homebuying journey and help you overcome any potential pitfalls along the way. And if you ever have homebuying concerns or questions, a real estate agent is happy to respond to them at your convenience.

Take advantage of the aforementioned tips, and by doing so, a first-time homebuyer should have no trouble submitting a fair offer on a residence.

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