Below are some of the most commonly asked questions I get from people just like you who are interested in the real estate market. Always feel free to contact me if you wish to talk further about something. I'll always make time for you!
What is the first step in the home buying process?
The first step is to talk to a lender and get pre approved You won't know what you can afford until you and a lender take a serious look at your finance. This is also when you can lock in an interest rate.
What is the first step in the home selling process?
The first step is to hire a realtor. Put the paint brush down and call a realtor! A realtor will help you determine what fix-its big or small you have to do to get the biggest return on your home. A realtor will also create a marketing plan and objectively price your home so it will sell.
Do I need a real estate agent to sell a house?
Yes and no. Do you need one? no. Should you have one? Absolutely. There are so many layers to selling a house and there are a lot of legalities involved that to do it properly and make the most money on your sale, hire a professional.
Do I need a real estate agent to buy a house?
Yes and no. You can go searching on your own but if you want proper representation - someone who will look out for your best interest, an expert negotiator, and someone who knows the laws around real estate, hire a realtor. Best part? It won’t cost you anything because the seller pays the commission - not you.
How much does it cost to hire a real estate agent?
Real estate agents work on commission that is negotiated between seller and agent. It is usually somewhere between 5%-7% of the sale price of the home. Of that commission, a portion (typically half) goes to the buyer’s agent.
How do I determine the sale price of my home?
There are several factors involved in determining an accurate sale price of a home: condition of the home, general market conditions, recent sales of similar homes in the area, and location are all factors used in determining a price.
What is a stager?
A stager is someone who is hired to help prepare your home for marketing. A stager may bring in furniture, art work, rugs, etc or reuse what you have to help highlight the best features of your home and make it more aesthetically pleasing for potential buyers. The cost is usually the seller’s responsibility but can be negotiated as part of the contract with the sales agent. Staged homes usually sell for more than an empty house.
Do I need good credit to buy a home?
Not really. The better your credit is, the better your interest rate will be and the greater the likelihood you’ll be approved for a higher mortgage. If you’re not sure what your credit score is or you need to boost that score, talk to a lender.
Are online pricing calculators accurate?
Online pricing calculators are not very accurate. Calculators use data from public records and other home sales to determine your estimate but there is so much more that needed to accurately price a home. Not all improvements will be reflected in public records and there is no way of knowing the condition of the home's exterior or interior by looking at public records. Want to get an accurate market analysis of your home? Ask a lender. They will often do a market analysis free of charge.
How much do I have to put down to buy a house?
In today’s market there are so many options for borrowers. In some instances, you can put as little as 5% down. Talk to a lender to see what loan programs work for you.