William Raveis Real Estate and Home Services



Posted by Deborah Schilling on 5/17/2018

If you want to acquire the best house at the lowest price, it pays to conduct an in-depth home search. In fact, there are many reasons why you should perform a comprehensive house search, and these include:

1. You can define your dream house.

For those who enter the housing market without a clear-cut definition of a "dream home," there is no need to worry. If you perform an extensive house search, you'll be better equipped than ever before to differentiate home must-haves from wants.

Ultimately, the definition of a dream home varies from buyer to buyer. As you map out your homebuying journey, it helps to put together a list of house must-haves and wants so you can tailor your home search accordingly.

Once you determine what you want to find in your dream house, you can assess the housing market and search for your ideal home. Then, when you locate your ideal residence, you should have no trouble submitting a competitive offer and moving one step closer to buying your dream house.

2. You can avoid the dangers associated with paying too much for a home.

Oftentimes, it is easy to attend a home showing and submit an offer on a home. But if you do so without performing housing market research, you risk overspending to purchase your ideal residence.

When it comes to determining the best price for a house, it helps to look closely at real estate market data. This information can help you differentiate a buyer's market from a seller's market, analyze the prices of houses in your city and town and much more. Perhaps most important, reviewing housing market data may enable you to avoid the temptation to spend too much to acquire your dream home.

3. You can reduce the risk of purchasing a home that fails to meet your expectations.

An in-depth home search reduces the risk that you'll be forced to "settle" for a home that fails to meet your expectations. Instead, you can allocate plenty of time and resources to search far and wide for your ideal residence. And if you find your dream home, you can rest assured that you'll be able to purchase this residence and enjoy it for years to come.

Clearly, there is a lot to think about if you intend to buy a house in the foreseeable future. But if you collaborate with a real estate agent, you can receive expert support at each stage of the homebuying journey.

A real estate agent will learn about you and your homebuying goals. Next, this housing market professional will keep you informed about available houses in your preferred cities and towns and set up home showings. A real estate agent will even help you submit offers on houses and ensure you can get the best price on any residence, at any time.

Take the guesswork out of buying a house – consult with a real estate agent today, and you can get the help you need to make your homeownership dream come true.





Posted by Deborah Schilling on 5/10/2018

Want to make your homeownership dream a reality? Get pre-approved for a mortgage, and a first-time homebuyer can move closer than ever before to acquiring his or her ideal residence.

Ultimately, there are many reasons to receive pre-approval for a mortgage, including:

1. You can establish a realistic homebuying budget.

Entering the housing market for the first time can be challenging. In fact, many first-time homebuyers struggle to establish realistic expectations before they begin their home search. And as a result, these homebuyers may end up spending too much for a house.

Fortunately, getting pre-approved for a mortgage enables a homebuyer to enter the real estate market with a budget in hand. This ensures a homebuyer can avoid the temptation to overspend on a residence.

Pre-approval for a mortgage also allows a homebuyer to map out his or her homebuying journey. With a plan in place, this homebuyer may be better equipped than others to acquire a top-notch residence that matches or exceeds his or her expectations.

2. You can speed up the homebuying journey.

Although a first-time homebuyer can always submit an offer on a home without a mortgage in hand, doing so may be tricky. In some cases, it may even slow down the homebuying process, especially if a homebuyer has to allocate significant time and resources to find a mortgage lender.

On the other hand, a homebuyer who gets pre-approved for a mortgage should have no trouble accelerating the property buying cycle. This homebuyer will know exactly how much money is at his or her disposal, and as a result, can speed up the homebuying journey.

3. You can gain a competitive advantage over rival homebuyers.

In many instances, a home seller may be more likely to accept a proposal from a first-time homebuyer who has been pre-approved for a mortgage versus an offer from a buyer who still needs to obtain a mortgage.

A homebuyer who has a mortgage likely won't have to wait too long to acquire a house. Conversely, a homebuyer who needs to apply for a mortgage after an offer has been submitted may need to wait many weeks or months to complete a home sale.

Clearly, there are many great reasons for a first-time homebuyer to receive pre-approval for a mortgage. For homebuyers who want to ensure the best results possible, it certainly helps to collaborate with an experienced real estate agent too.

An experienced real estate agent understands the ins and outs of the housing market and will do whatever it takes to help a homebuyer streamline the property buying journey. This housing market professional will set up home showings and negotiate with a home seller on a property buyer's behalf. Plus, he or she is happy to provide honest, unbiased recommendations to help a homebuyer make his or her homeownership dream come true.

Take the next step to acquire your dream residence – get pre-approved for a mortgage today, and a first-time homebuyer can get the necessary financing to purchase his or her ideal house.




Categories: Uncategorized  


Posted by Deborah Schilling on 3/8/2018

The real estate market is filled with many high-quality residences, and after a comprehensive search, you've found a residence that fits your personal needs and budget perfectly. However, you may need to think twice before you submit an offer on this residence. There are many factors that homebuyers should consider before they make an offer on a house, including: 1. Neighborhood Ideally, you'll want to find a home in a community filled with friendly neighbors. But in many cases, homebuyers may focus exclusively on a residence and ignore the neighborhood entirely. Taking a walk around a neighborhood often allows you to get a better feel about what it is like to live in a neighborhood and may give you a chance to meet some of the neighbors as well. Also, a simple walk around the block will provide you with a better idea about whether a house's value may rise or fall in the foreseeable future. For instance, a neighborhood filled with houses with well-maintained front lawns, nearby parks and schools and other local amenities may prosper for years to come, and home values may rise in this neighborhood over the next few years. 2. Crime No one wants to live in an unsafe area, and you can learn about crime near a prospective home before you submit an offer on a residence. Contacting a local police station usually is a great idea for homebuyers who want to find out about crime statistics in a particular area. Furthermore, your real estate agent can provide insights into crime in a specific area and help you determine whether a particular house is the best option. 3. Traffic Although your dream home features all of the amenities you want, it might fail to provide you with quick, easy access to your office day after day. For example, traffic can be a problem if your house is located in or near a major city. And if you need to travel to work every day, it is important to understand how traffic could affect your daily commute. To better understand traffic patterns in a particular area, try driving to a residence at different times during the day. By doing so, you can learn about traffic patterns near a house and be better equipped to make a more informed decision about whether to submit an offer on a residence. 4. Taxes You've been pre-approved for a mortgage and have established a monthly budget for a new home, but taxes may vary depending on where you move. Thus, you'll want to learn as much as possible about potential taxes that you could face at a new residence before you submit an offer. Taxes may add up quickly, but homebuyers who budget accordingly can minimize the risk that they'll fall behind on tax bills. And with support from your real estate agent, you can learn about taxes that you may encounter if you purchase a particular residence. If you're fully satisfied with a residence after you consider the aforementioned factors, you'll be ready to submit an offer and move one step closer to moving into your dream house.





Posted by Deborah Schilling on 3/1/2018

Have you heard the term “earnest money” but really aren’t sure what it means? Once you have found the perfect home and are all set to make an offer, there’s one more step that you need to take. That’s to make a deposit on the home you want to buy. This is known as an “earnest money deposit.”  


The Purpose Of The Deposit


The deposit shows the seller that you’re serious about buying the home. It’s a measure that allows the seller to have some faith in you as a buyer that you’re truly moving forward with your decision; you’re ready as a buyer to make the financial commitment. This deposit allows the deal to begin on a solid basis without much question. 


Is The Deposit Required Legally To Buy A Home?


From a seller’s perspective, a deposit keeps a buyer from changing their mind. If there is a significant amount of money involved, the seller sees the deposit as a way to keep the buyer locked in. This makes it easier for sellers to accept an offer. 


How Much Is Expected For An Earnest Money Deposit?


These deposits don’t quite have a standard amount. The general rule is that they range from 1% of the home price up to 5%. The more expensive of a home that’s being purchased, the larger the earnest money deposit should be. In some cases, the seller may even ask for a certain amount of a deposit to ensure that buyers are serious. How much money you pay at once is often negotiable. You may be able to pay part of the money at one time and the other part at a later date.


New Construction Can Require Large Deposits


New construction homes can require large earnest money deposits- up to half of the purchase price of the home. This is because the construction costs need to be paid upfront and the bank wants proof that the units being constructed with loan money are being sold to buyers who can pay for the home. 


New construction homes are often customized as well. It would be detrimental to a developer to make special changes to a home only for a buyer to walk away. 


Getting The Deposit Refunded


As with everything in real estate, you’ll have a contract. If you don’t follow the terms of the contract, you risk losing your earnest money deposit. Two main reasons for buyers to walk away are a flopped home inspection or financing that falls through. Read your contracts carefully. Sellers sometimes state that deposits are nonrefundable after a certain number of days. 


You need to be sure that you are covered as a buyer in the purchase and sales agreement. If you back out of a home purchase without good reason like a contingency included in the agreement) you could be out of luck when it comes to getting your deposit back.    






Tags: buying a home   finances  
Categories: Uncategorized  


Posted by Deborah Schilling on 12/7/2017

 

Purchasing a deluxe home at an affordable price may seem impossible, particularly for property buyers who are searching for a residence in a seller's market.


Lucky for you, we're here to help take the guesswork out of buying a terrific residence at a budget-friendly price, regardless of the current housing market conditions.


Now, let's take a look at three factors that homebuyers need to consider before they enter a seller's market.


1. Your Timeline

What is your homebuying timeline? Ultimately, you'll want to consider how quickly you need to relocate to a new residence. This will enable you to map out a homebuying journey that boosts your chances of getting the best results possible.


For example, if you have several months to plan ahead, you may be able to wait out a seller's market. You can pursue a wide range of residences over an extended period of time. And if you find a residence that you like, you can submit an offer on it.


On the other hand, if you need to move right away, you'll likely need to speed up the homebuying journey. In this scenario, you'll want to make the most of the time and resources at your disposal. If you can optimize the time and resources that are available, you may be better equipped than other homebuyers to discover a great home in a seller's market.


2. Your Budget

How much can you afford to spend on a home? A seller's market favors property sellers, so you'll want to do everything possible to budget appropriately and avoid the temptation to overspend to acquire a residence.


Getting pre-approved for a mortgage usually is an excellent idea. If you meet with banks and credit unions, you can learn about your mortgage options and choose a mortgage that matches your finances perfectly.


With a mortgage in hand, you can enter the housing market with realistic property buying expectations. You also may be able to narrow your home search, and as such, speed up the process of purchasing your ideal house.


3. Your Homebuying Expertise

What do you know about the housing market? In most cases, homebuyers lack real estate expertise. However, working with a real estate agent ensures you can receive comprehensive support as you navigate a seller's market.


A real estate agent is a friendly, knowledgeable housing market professional, one who will go above and beyond the call of duty to assist you during the homebuying journey.


Typically, a real estate agent will set up home showings, keep you informed about new properties as they become available and negotiate with home sellers on your behalf. He or she will even provide honest, unbiased recommendations, guaranteeing you can get the expert insights you need to make informed homebuying decisions.


When it comes to exploring houses in a seller's market, why should you be forced to leave anything to chance? Consider the aforementioned factors closely, and you can improve your chances of acquiring a stellar home without having to break your budget.




Categories: Uncategorized  




Deborah Schilling
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