Bob Falter, CRS, GRI - Exit Real Estate Executives | 508-612-1649 | BobFalter@gmail.com


Posted by Bob Falter, CRS, GRI on 6/20/2018

When youíre buying a home, thereís a lot of excitement that surrounds the search and purchase of the property. In the process of buying a home, however, there are many things that buyers forget to take into account during their search and budgeting. Below, youíll find some information to help you be prepared as a buyer to consider your home purchase from all angles without missing a beat.  


The Expense Of Closing Costs


Remember that closing costs will be somewhere in the 3-5 percent range of the purchase price of a home. Amidst all of your savings, youíll need to consider this a part of your expenses. Closing costs need to be paid upfront in most cases. You can roll your closing costs into the financing, but it depends on the circumstances. There are no guarantees that the lender will agree to it. Your realtor can also sometimes negotiate for the sellers to pay the closing costs, but in a sellerís market this is quite rare. Be prepared with your closing costs and understand how much youíll need to spend so that you have an appropriate amount for the downpayment and the other expenses that youíll incur during the process of buying a home.  


The Cost Of Maintaining A House


Many buyers forget about all of the costs that they will need to pay for after they finish buying the house. In addition to a monthly mortgage payment, youíll need to pay for things like utilities, routine home maintenance, furnishings, and more. If you completely deplete your savings for the purchase of the home, thereís not a whole lot of wiggle room for you to pay for additional needs in the house. 


The Cost Of Furnishing And Decorating A Home


You may move into a home with a few pieces that you have previously owned. You could also need a lot of things from a bed to a sofa. All of these items can add up. You may even have to worry about little things like window shades, curtains, lamps, light bulbs, and more. 


Home Repairs Can Cost A Pretty Penny


If something needs to be done in your home, the repairs can cost you quite a bit. If youíre not paying attention during the home inspection, youíll be in for some surprises. Thatís why you need a good realtor to help you through the process. A new roof can cost thousands of dollars. New appliances are an expense you should plan for. Other major work that needs to be done around the house can also dip into your savings significantly. As a buyer, you need to be prepared for any of these expected or completely unexpected costs.           





Posted by Bob Falter, CRS, GRI on 6/13/2018

For homebuyers, finding a dream home may require many days, weeks or months. However, when the big day finally arrives, you'll want to submit the right offer to ensure you can secure your ideal residence quickly.

Unfortunately, making the right offer on a home can be tricky. If you submit a proposal that is far below a home seller's expectations, you risk missing out on your dream home entirely. Or, if you submit an offer that is above your comfort level, you may wind up paying more for a house that it is actually worth.

So what does it take to make the right offer on a home? Here are three tips that every homebuyer needs to know to ensure he or she can submit the perfect offer on a residence.

1. Use Housing Market Data to Your Advantage

The internet is a powerful tool, particularly for homebuyers. And if you search for housing market data, you should have no trouble finding the information that you need to submit an offer that matches your budget and satisfies a home seller's expectations.

For example, a homebuyer who finds a two-bedroom home that he or she would like to buy should consider the prices of comparable houses in the area. Also, be sure to look at what other homes in the same neighborhood may be worth and tailor your offer accordingly.

A wealth of real estate market data is readily available across the web, and homebuyers who use this information to their advantage can submit a reasonable offer on a house at any time.

2. Get Pre-Approved for a Mortgage

Although you may submit the best offer for a home, there is no guarantee that a home seller will accept your proposal if you lack the necessary financing. On the other hand, a homebuyer who receives pre-approval for a mortgage may be able to stand out to home sellers, and for good reason.

With pre-approval for a mortgage, you may be able to move through the homebuying process faster than other potential homebuyers. Thus, a home seller may choose your offer over others, as he or she will be able to minimize the risk that a deal could fall through due to a homebuyer's lack of financing.

3. Work with a Real Estate Agent

A real estate agent understands the ins and outs of both seller's and buyer's markets. Therefore, this real estate professional will offer tips and insights to ensure you can submit a fair offer on a residence.

Remember, your real estate agent is happy to help you in any way possible. And with this professional at your side, you can gain insights into the home seller's perspective. Plus, your real estate agent will be able to negotiate on your behalf to help reduce the risk of overspending for a house.

Find a real estate agent who boasts years of industry experience, and you can reap the benefits of unparalleled support throughout the homebuying journey.




Categories: Buying a Home   buying tips  


Posted by Bob Falter, CRS, GRI on 6/6/2018

After a move, everything feels fresh and energizing. This is, of course, in part because of the energy that comes with a big change. But it also comes from having a neatly, organized home. In the jumble of packing and unpacking, junk gets tossed and items get new homes. Everything gets a new dedicated area where it belongs. Everything is tidy, as it should be.

So how then can you maintain this wonderful feeling and continue to keep things neat and tidy?

First, you need to make a daily habit of doing a quick clean sweep every day. Whether you do it in the morning, afternoon or before bed isnít important. What is important is that you do it every day.

Go through the house to make to corral up stray dishes, put items back into their dedicated places, and give homes to those who donít have one yet.

And if you canít think of somewhere to put it? Question its purpose and consider either donating or tossing it.

Aim to keep your surfaces clear of items. Allowing things to accumulate is one of the fastest for clutter to quickly take over. Stop it in its track by tidying up when youíre done using this ďstationĒ of your home.

Practice not being ďlazyĒ. If you bring your tea to sip on the couch when you leave the room take your mug with you straight to the dishwasher. If you finished the last of the chips put the clip away where it belongs instead of leaving it out on the counter. Put pens back away after using them to jot out notes. Recycle magazines when you're done reading them.

If you find things are building up as clutter quickly you might have too much stuff. Which is okay, it happens!

Decluttering isnít a one and done process. We need to consistently be assessing the things that collect in our homes and what benefit they are adding to your life. Sometimes we once used all the time have fallen out of favor or need to be repaired/replaced.

Make time once a month for a quick declutter session and once a season for a more detailed one.

And the best way to avoid clutter is to closely monitor what youíre allowing to come into your home in the first place. If you find you love to take things home just because they were free or on sale, itís important to take a step back and ask yourself why.

After all, the less stuff we have in our homes the less there is to manage. Which means more time spent doing what you enjoy doing, like spending time with your family, and less time organizing it all.

 





Posted by Bob Falter, CRS, GRI on 5/30/2018

When it comes to home buying a home, thereís a ton of different information available out there. A lot of what has been presented as ďfactĒ actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, youíll find some of the most common myths that youíll find about home buying.


If Your Credit Score Isnít Up To Par, You Canít Buy


To get good mortgage rates, having a good credit score doesnít hurt. You can still buy a home if you donít have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Donít let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.  


You Need 20 Percent Down To Buy A Home


This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.


You Have To Make A Lot Of Money To Buy A Home


Your monthly income is one of many aspects of your financial life thatís considered when youíre buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and youíll be in good shape to buy a home. 


You Donít Need To Be Pre-Approved To Get A House


Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, youíre able to breeze through the process of making an offer if youíre pre-approved. The pre-approval process is one of the most important aspects of buying a home. 


If youíre prepared with knowledge, buying a home isnít such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!





Posted by Bob Falter, CRS, GRI on 5/23/2018

Selling a house sometimes can be complicated. But if you understand the home selling journey, you may be better equipped than other sellers to avoid potential pitfalls.

Now, let's take a look at three tips to help you simplify the home selling journey.

1. Analyze the Local Housing Market

The age and condition of your home may have far-flung effects on how much a buyer is willing to pay to acquire your residence. At the same time, the local real estate sector can have major ramifications on your property selling experience.

A home seller who analyzes the local housing market can identify real estate patterns and trends. Then, this seller can use housing market data to establish a competitive initial asking price for his or her residence Ė something that may lead to a quick, seamless home selling experience.

Don't forget to review the prices of recently sold houses in your city or town too. By doing so, you can see how your home compares to these residences and price your house accordingly.

2. Assess Your Home

If you've maintained your home over the years, you may be in a good position to maximize your house sale earnings. On the other hand, if your home requires repairs, there may be no time like the present to complete property improvements.

Oftentimes, it is beneficial to conduct a home inspection and appraisal prior to listing a residence. During a home inspection, a property expert will examine your residence and offer insights into any underlying property issues. Meanwhile, during an appraisal, a property expert will craft a property valuation based on your residence and various housing market factors.

3. Hire a Real Estate Agent

If you're unsure about how to navigate the home selling process, you may want to hire a real estate agent. That way, you'll have a home selling expert at your side to help you identify and eliminate assorted property selling hurdles.

A real estate agent understands what it takes to sell a home, regardless of the current housing market's conditions. He or she first will meet with you and help you create a property selling strategy. Next, a real estate agent will set up home showings and open house events to promote your residence to prospective buyers. And if you receive an offer to purchase your house, a real estate agent will provide recommendations and suggestions about how to proceed with this proposal.

In addition, a real estate agent will go above and beyond the call of duty to ensure you can get the best price for your house. He or she is ready to negotiate with a buyer's agent on your behalf, and as a result, can help you optimize your home sale earnings.

When it comes to selling a home, complications may arise. Fortunately, the aforementioned tips can help you streamline the home selling process and ensure you can enjoy a fast, profitable property selling experience.