Area Real Estate News & Market Trends

You’ll find our blog to be a wealth of information, covering everything from local market statistics and home values to community happenings. That’s because we care about the community and want to help you find your place in it. Please reach out if you have any questions at all. We’d love to talk with you!

Oct. 18, 2021

Trick-or-Treat

Posted in News
Oct. 18, 2021

Haunted House Contest

Oct. 5, 2021

How Many Pumpkins?

Are you a "the limit does not exist" or a "one and done" kind of pumpkin person?

Leave me a comment and let me know,

And if you don't have a porch of your own to decorate, maybe it's time to change that?

Maybe it's time to give me a call! #thehelpfulagent #home

#houseexpert #house #listreports #halloween #pumpkin #homedecor #homestyle

#realestateagent #realestate #realtor #spookyseason

Posted in Tips and Tricks
Oct. 5, 2021

Give Away!!

Sept. 28, 2021

Happy Fall

 

 

 

 

Finding a home you love is a challenge on its own,

but factor in the ongoing shortage of homes for sale, and you're looking at a near-impossible task.

So why not stack the deck in your favor?

Why not give me a call? #thehelpfulagent #home #houseexpert #house #listreports

#icanhelp #househunting #fallinlove #realestate #dreamhome #realestateagent #realtor

Posted in Tips and Tricks
Sept. 23, 2021

Is a Pre-Sale Home Inspection Important?

There are plenty of things to do before putting your home on the market.

While this one is optional it’s especially good to consider if you’ve lived in your home for

a long time or you have an older home.

It can cost between $200 to $600.

If you’re on the fence, send me a message so I can add my expertise to the issue.

#thehelpfulagent #home #houseexpert #house #listreports #homeowner

#realestate #realtor #themoreyouknow #realestateagent #icanhelp

Posted in Tips and Tricks
Sept. 22, 2021

Mistakes Many First-Time Home Buyers Make

Click on the image to read the full article! #article #news #notablearticle #listreports #realestate

Posted in Tips and Tricks
Sept. 22, 2021

U.S. Weekly Average Mortgage Rates

Mortgage rates continue to trend down. Which means it’s still a great time to buy a home.

With just a few months left, why not end 2021 by becoming a homeowner?

Leave me a comment and let’s get started!

#thehelpfulagent #home #houseexpert #house #listreports #homeowner #mortgage #finances #realestate

#realtor #realestateagent

Posted in Tips and Tricks
Sept. 13, 2021

What is an Adjustable Rate Mortgage?

Buying a home doesn’t have to cost an ARM and a leg upfront. When it comes to financing your property purchase, there are many types of mortgages available, one of which comes with particularly low initial payments.

Today I’ll be covering the topic of adjustable rate mortgages (ARMs), as well as their advantages and potential pitfalls.

What is an ARM or adjustable rate mortgage?

Adjustable rate mortgages, sometimes referred to as variable-rate mortgages or tracker mortgages, differ a bit from your standard home loan. The main (& most important) difference- their adjustable interest rate.

This means that over the duration of paying off your mortgage, it’s likely that the interest rate will periodically fluctuate. This will affect the amount of your monthly payments and will depend on the index (a benchmark that reflects the general condition of the market) and a margin (a percentage determined by the lender and agreed on during the application process).

Why go with an adjustable rate mortgage?

You may be wondering why you’d want to take the gamble with an adjustable rate mortgage, but there are some advantages to the borrower.

  • It’s common that ARMs start with lower monthly payments and interest rates than fixed or capped rate mortgages.
  • If the index, or general mortgage interest rate decreases, or even remains the same, you could end up paying back less than you would have with a fixed-rate mortgage.
  • Adjustable rate mortgages work with a cap structure, meaning that there is a limit on how much your rate can change within a given period of time.

What to watch for when applying for an adjustable rate mortgage.

While there are some advantages to taking out an adjustable rate mortgage over a loan with a fixed rate, there are also some things to keep in mind.

Before signing the dotted line, here are some things to consider:

  • Your mortgage interest rate, and therefore your monthly payment, can, and is likely to, change. If your monthly payments increase, will you be able to afford it? How much of an increase can you afford?
  • When you take out an ARM, you are the one taking the risk that interest rates could eventually rise or fall. When you take out a fixed rate mortgage, that risk falls on the bank or financial institution that provided the loan.
  • Depending on the type of ARM you agree on, the change in your monthly payments may not reflect changes in general mortgage interest rates- increases and decreases. All adjustable rate mortgages have different terms, so make sure to thoroughly read the fine print.
  • The interest adjustment period with most ARMs also differ, so make sure you know ahead of time. Some have rates that change as often as every month, while some only adjust every 5 years.
  • You could encounter penalty fees for paying off your mortgage early to avoid higher interest payments in the future.
  • When applying for your mortgage, be sure to ask your lender about the type of index being applied to your loan. Usually the type of index applied is simply a formality, meaning the adjustments made will be very similar, but the type of index can end-up affecting the amount of your monthly payments.

Looking to learn more about the ins and outs of ARMs? Contact me today to get in touch with a trusted lender.

Posted in Tips and Tricks
Sept. 13, 2021

3 Questions Real Estate Agents can Help you Answer

So, you want to buy a home. That’s great! But are you ready? It might be news to some, but a real estate agent’s job is more than helping you sign a contract on a new home. They are also a great resource to talk to if you are not sure if buying a home is the right next step in your life.

Below are three questions real estate agents can help you answer today so you can start looking for a home tomorrow.

1. What will my life be like in 5 years?

Loaded question, I know. But it’s one we all must ask when taking on something as big as buying a home. A 5 year forecast of your life will determine what is best for you, your time, and your wallet.

If you are not sure, a good real estate agent can help guide you through a set of questions that will help determine if what you want now will be what you want 5 years from now.

Evaluating your job security and the neighborhood you want to be a part of is a great place to start. A real estate agent can help you window shop different areas around your neighborhood to see what is the best for you and your future family (if this is a part of the 5 year plan).

2. What am I looking for (and not looking for) in a future home?

Start with the basics. What do you absolutely NEED in your future home? Write down the number of bedrooms and bathrooms you’ll need to accommodate everyone. Once you’ve brainstormed your “need list” share this with your real estate agent. They will also help you fill this list by asking questions like: Does the home need to be handicap accessible? Additionally, think about the neighborhood. A good realtor will talk you through different ways in which a neighborhood should meet your needs. Can you see yourself living in this neighborhood for the foreseeable future? Things like quality of schools, parks (and neighbors) should be on the top of your “need” list and something a real estate agent will discuss in an initial meeting with her/him.

Knowing what you DON’T want will help your real estate agent, as well. For example, if you know you don’t want your washer and dryer in the garage, take note! Wall-to-wall carpeting makes you cringe? Put it on the DON’T WANT list and let your real estate agent know!

3. Are my finances (and credit) in order to buy a home?

When was the last time you checked your credit score? While there are ways to get your credit score for free online, there are many factors that go into a pre-qualification for a home, and only a lender can provide these answers.

For instance, if you have a low credit score of 580 or below, you will have access to loans like the FHA loan but will have a higher percentage on the down payment of your home. On the other hand, if you have a good credit score, like 680 and above, you will get approved for higher limits. In this sense, how much you can borrow from the bank will increase if you have a more reliable score. Additionally, the percentage on the down payment of the home will lower.

The good news is if the above information overwhelmed you, it is a real estate agent’s job to help explain the details and point you in the direction of other professionals who can determine if you are financially ready for the commitment of buying a home.

There you have it! 3 critical questions a good real estate agent can help you answer before buying a home. If you are ready to consult a real estate agent today to help answer the above questions, I’m ready to help!

Posted in Tips and Tricks