Thursday, January 30, 2025 / by Vic Markarian
In a recent survey, the National Association of Realtors (NAR) asked sellers what they want most from a real estate agent. The number one answer was to help market their house.
It makes sense. The way your agent markets your house can be the difference between whether or not it stands out and gets attention from buyers. That’s why it’s so important to work with an expert local agent that knows what they're doing.
According to that same report from NAR, here are some of the most common methods real estate agents use to market homes, and how you benefit when your agent uses them effectively (see graph below):
Listing on the MLS – Real estate agents have access to the Multiple Listing Service (MLS) database. And that’s great for you because having your house on the MLS helps it get more visibility from other agents and buyers. And the more people who see it, the more likely it is to sell.
Using a Yard Sign & ...
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Thursday, January 30, 2025 / by Vic Markarian
A recent report from Realtor.com says 20% of Americans don’t think homeownership is achievable. Maybe you feel the same way. With inflation driving up day-to-day expenses, saving enough to buy your first home is more of a challenge. But here’s the thing. With the right resources and help, you can still make it happen.
There are options that can help make buying a home possible today — even if your savings are limited or your credit isn’t perfect. Let’s explore just two of the solutions that could help get you into your first home no matter the market.
1. FHA Loans
If your down payment savings and your credit score aren’t where you want them to be, an FHA loan could be your pathway to buying a home. According to the U.S. Department of Housing and Urban Development (HUD) and Bankrate, the big perks of an FHA home loan are:
Lower Down Payments: They typically require a smal ...
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Thursday, January 23, 2025 / by Vic Markarian
It’s no secret that affordability is tough with where mortgage rates and home prices are right now. And that may have you worried about how you’ll be able to buy a home. But, if you don’t need a ton of space, you may find you have more cost-effective options in an unexpected place: new home communities.
Builders Are Building Smaller Homes
Since smaller homes typically come with smaller price tags, buyers have turned their attention to homes with less square footage — and builders have shifted their focus to capitalize on that demand. As U.S. News notes:
“The combination of higher home prices and mortgage rates has strained a lot of people's budgets. And that's something builders recognize. To this end, they may be leaning toward smaller spaces . . .That, in turn, can lead to savings for buyers.”
Data from the Census shows the overall builder trend toward smaller, single-family homes has be ...
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Thursday, January 16, 2025 / by Vic Markarian
There’s one essential step in the homebuying process you may not know a whole lot about and that’s pre-approval. Here’s a rundown of what it is and why it’s so important right now.
What Is Pre-Approval?
Pre-approval is like getting a green light from a lender. It lets you know how much they’re willing to let you borrow for a home. To determine that number, a lender looks at your financial history. According to Realtor.com, these are some of the documents a lender may ask you for during this process:
W-2s from the last two years
Tax returns from the last two years
Pay stubs from the last 30 days
Bank statements from the last 60 days
Investment account statements (if applicable)
Two years of history of where you’ve lived
The result? You’ll get a pre-approval letter showing what you can borrow. Keep in mind, that any changes in your finances can affect your pre-approval status. So, after you receive your letter,k ...
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Thursday, January 9, 2025 / by Vic Markarian
Knowing what to budget for when buying a home may feel intimidating — but it doesn’t have to be. By understanding the costs you may encounter upfront, you can take control of the process.
Here are just a few things experts say you should be thinking about as you plan ahead.
1. Down Payment
Saving for your down payment is likely top of mind. But how much do you really need? A common misconception is that you have to put down 20% of the purchase price. But that’s not necessarily the case. Unless it’s specified by your loan type or lender, you don’t have to. There are some home loan options that require as little as 3.5% or even 0% down. An article from The Mortgage Reports explains:
"The amount you need to put down will depend on a variety of factors, including the loan type and your financial goals. If you don’t have a large down payment saved up, don’t worry—there are plenty of options available . . ."
k ...
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