Articles Tagged "Real Estate Investment"

When you're buying a home, you're subjected to a variety of tips and recommendations from your friends and family. Unfortunately, our real estate agents know that much of the real estate tidbits floating around are myths.

Prospective homeowners believe these myths, potentially interfering with their dreams of homeownership. Here are a few common real estate myths we want to debunk.

• Myth 1: You Can't Buy a Home Unless You Have a Ton of Cash
  This myth is usually offered by well-intentioned individuals, but it simply isn't true. It can also delay your dreams of homeownership because you mistakenly believe you need to spend as little money as possible so that you can save a lot of cash. With an FHA mortgage, you can purchase a home with a down payment as low as 3.5 percent of the home's purchase price. Even conventional mortgages offer a down payment as low as 5 percent of the home's price, also, if you are a veteran, you may be eligible for a 100% home mortgage!

• Myth 2: Your First Move is to Find a Home You Love
  Before you start browsing Bradenton homes for sale, work with a lender to get pre-approved for a home mortgage. Your lender will request information about your income and assets, along with your credit history, to determine how much you can borrow. You don't want to find a home that checks off everything on your wishlist, only to learn that it costs more than your lender will approve you for. Most sellers also prefer homebuyers who have proof that they're pre-approved for a mortgage (especially in a competitive market). 

• Myth 3: You Can't Buy a Home Unless Your Credit is Perfect
  It's possible to purchase a home even if your credit is less than perfect. There are mortgages specifically designed for individuals who have some deficiencies in their credit histories. While you can still buy a home with mediocre credit, it's best to improve your credit as much as possible before applying for a mortgage. The better your credit score, the lower your interest rate. This can save you thousands of dollars over the life of your mortgage. 

• Myth 4: A Lender Won't Approve a Mortgage That You Can't Afford
  When deciding how much to potentially loan you, your lender uses lending guidelines concerning how much debt a borrower should have. For example, conventional wisdom states that your home expenses (including your mortgage, taxes, and insurance) shouldn't exceed 36 percent of your gross income. All your debt payments, including your mortgage, shouldn't be more than 43 percent of your gross income. However, this guideline doesn't consider your other expenses and your individual goals. If you spend a lot on travel, school tuition, daycare, or an expensive hobby, this will impact the mortgage amount that you can comfortably pay. Don't assume that a lender understands your entire financial situation. Instead, look at your budget and spending habits to get a more accurate idea of an affordable mortgage payment. 

• Myth 5: You Really Don't Need a Real Estate Agent
  Before you start looking at Sarasota homes for sale, find a real estate agent to help you find your ideal home. Real estate agents have access to more available homes than the general public. They also have extensive knowledge of the buying process and can help salvage a deal if problems arise. A great real estate agent can save you a lot of time and money when you're buying a home. 

Ready to start searching for your next home? Contact us today!

It's a hot market, and you're looking to buy or sell a home among Sarasota homes for sale or Bradenton homes for sale. While an agent can help you in any type of real estate market, their help is especially critical during a hot market. Here's why.

Why Hire an Agent?

Yes, your home might just fly off the market with a Craigslist ad or the like, but what if it doesn't? With an agent, your home will get considerably more exposure in MLS (multiple listing service) databases created and maintained by real estate professionals to help homeowners like you sell their property. It just makes sense that the more potential buyers see your property, the greater the chance that the selling price could go much higher than your expectations. You could have buyers competing with one another, and that could only benefit you.

Your agent will be there throughout the whole process and able to offer advice for any aspect of the sale, from determining a price to staging your home to determining the scope of repairs you want to do before you put the home on the market. 

But an even better reason to hire a real estate agent is that many potential buyers are not comfortable talking to the owner of a property and prefer to deal with an agent. Not only can you -- and should you -- make yourself scarce while the agent shows your home, but you'll boost the comfort level of potential buyers, who may feel they are visiting you, as the owner of the home, rather than seriously looking at a home they want to live in.

What to Look for in an Agent

As you begin to look for a real estate agent, you will likely focus on an individual's experience in selling houses like yours in your neighborhood. Ask neighbors for recommendations. Get at least three referrals. And remember, while experience is important, so is personality. Can you relate to this person? Does he or she seem real to you? Look for an agent you can build a rapport with, in addition to their sales and successes.

Pay attention to the agent's marketing tools, including website, business card, brochures, signage, social media efforts, and more. Does the agent's personal appearance give you confidence in them, or is something lacking? 

When you discuss the sale of your home with a real estate agent, you want someone who can guide you through what can be a precarious journey. Can your agent answer questions reliably and with real data about investment analysis, neighborhood-level market performance, and possibly even the impact of your decision to sell? You don't want an agent who honey coats their answers; you need real information about possible pitfalls, so listen carefully to how your agent replies to your questions and make sure the agent is really hearing you.

Our real estate agents can give you solid advice on how to hire the right professional to help you sell your home. Contact us today. 

If you want the option to select the finishes in your home or if you prefer a brand-new space, our real estate agents know a new construction home is an excellent option. When purchasing a new construction home, you may be tempted to forgo using a REALTOR®. Here are a few reasons to use a REALTOR® when purchasing a new construction home. 

1. A REALTOR®Has Your Interests in Mind
   When purchasing a new construction property, you'll encounter individuals who represent other parties (like a builder rep) who will offer to handle the details of the sale for you. While these individuals are capable, you should remember that they are already obligated to represent the best interests of someone else. A REALTOR® will focus only on your best interests. 

2. Your REALTOR® Will Help You During the Negotiation Process
   Like any home purchase, you want to procure the best terms when you're purchasing new construction. Even though the builder might act like the terms are final, there are likely some details that are up for negotiation. Your REALTOR® will recognize these details and help you procure the best terms possible. Maybe the builder is firm on their price; your REALTOR® might suggest negotiating for upgraded finishes or adding extra items (such as appliances or blinds).

3. A REALTOR® Knows What Builders are Reputable
   Most people only buy a few homes during their lifetimes. A REALTOR® handles thousands of real estate transactions. As you browse Bradenton homes for sale, your REALTOR® will advise you as to which home builders are known for doing quality work. 

4. Your REALTOR® Can Provide Helpful Recommendations 
   Throughout the homebuying process, you'll find yourself searching for professionals to assist with your purchase. Before you start looking at Sarasota homes for sale, you'll want to get preapproved for a mortgage so that you know what you can afford to borrow. While your builder may suggest a mortgage, your REALTOR® can suggest lenders that they know are buyer-friendly. Once you're ready to commit to a new construction, you'll want to ensure that the finished product is sound. Your REALTOR® can recommend a home inspector to make sure your new home is ready for you to occupy. You'll appreciate having a knowledgeable resource throughout the process.

5. A REALTOR® is Familiar with the Neighborhood
   When buying a home, it's important to find a property in a neighborhood that's right for your lifestyle. It's hard to get an accurate feel for a neighborhood during a short visit. A REALTOR® is a valuable source of information for the neighborhood's true environment. They know which neighborhoods are good for families and which areas are better for individuals who value their privacy. 

Ready to start exploring new construction? Contact us to get started!

If your kitchen is beginning to look a bit outdated or things just aren't working as well as they used to, you might be wondering if it's time to upgrade your appliances. Our real estate agents usually recommend replacing your appliances before they break, as replacing items one by one can result in mismatched appliances. The last thing you want is a set of appliances that differ by color, age, or style appliances especially if you're planning to sell your home. Mismatched appliances can really give your kitchen a cluttered look.

Figuring out the best time to replace your kitchen appliances is the key to maximizing the longevity of your products and also maintaining your home's aesthetic value. Below are some tips to help you determine the best time to upgrade your kitchen appliances.

1. They're Simply Aging
   Every appliance has a lifespan, so knowing the age of each kitchen appliance can help you predict when they might be on their last legs. Refrigerators generally last 13 to 15 years, while dishwashers usually last about 8 or 9 years. Of course, the exact lifespan will depend on the product and brand. If your appliances are getting up there in age, then it's probably time to start thinking about replacements.
2. Your Kitchen is Out of Style
   If your appliances are wood-paneled, bright green, or look like they're from the 1960s, then they might be a little outdated. While your outdated appliances may work well or have sentimental value, installing modern-looking appliances may be helpful when it comes time to sell your home. Some of these Sarasota homes for sale have classic stainless steel appliances, which really creates a timeless look.
3. The Noise is Becoming an Issue
   If your dishwasher sounds like a semi-truck or your refrigerator is buzzing, it might be time to start thinking about new appliances. You may have even become used to the sound by now, but you'll notice such a big difference when you upgrade. In fact, some of these Bradenton homes for sale have the quietest kitchen appliances on the market today.
4. Your Utility Bills Are Too High
   Some old appliances can actually be really expensive to keep around because they're not very energy efficient. Modern refrigerators, dishwashers, ovens, and washing machines consume a fraction of the energy compared to older models from ten or twenty years ago. Upgrading to new appliances may be expensive in the short term, but you may actually see some cost savings down the road.
5. They Don't Work Like They Used To
   All appliances tend to lose performance over time, so if yours aren't working as well as they used to, then it's probably time to start saving-up for replacements. If it's taking longer for your oven to heat up or your dishes aren't coming out as clean as they used to, it might be time to start shopping.

There are no hard-and-fast rules for determining the best time to replace your appliances, but age, style, and condition are often the best indicators. For guidance on the best ways to upgrade your kitchen, contact us today!