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Tips for Selling Your Home in Winter

Written by Marybeth Heckler on December 14, 2020. Posted in Real Estate.

When it comes to selling a home, most realtors will tell you that spring is king when it comes to the best time to sell. Spring listings always seem to move faster, and the better weather seems to be naturally set for open houses.

But you don’t always get to pick when you have to put your house on the market. If you’re putting your home up for sale during the winter, then you need to check out the following tips on how to sell your home faster.

4 Tips for Selling Your Home in Winter:

Let’s talk about decorations — First off, let’s address the elephant in the room. Is it acceptable to decorate your home for the holidays while you are trying to sell your home? Some realtors will say yes, and others will say no. But the reality lies somewhere in between.
Yes, decorate your home. In fact, some realtors point out that the “homey” family quality goes a long way towards selling a home. But, don’t go overboard with lots of inflatables that block the view of the home. Instead, your decorations should be modest. Also, after the holidays have passed, make sure that you take all the decorations down. You don’t want to be that person who leaves them up year-round.

Lighten up — One reason why spring is sometimes preferred for home sales is that the sun doesn’t set until around 8:00, giving plenty of sunlight for people getting off work to check out the homes. During the winter, you don’t have this option since it probably starts getting dark around 5:30 or so. To help with this, set up outdoor floodlights that can help light up the property and show it off for people driving through the neighborhood.

Get comfy and cozy — When you’re staging the interior of your home, make sure to play up the coziness of the locale. Make sure you have your heater set at a comfortable temperature, but not so warm that it becomes stifling. If you have a fireplace, light it up and have lots of warm blankets and other touches visible to help set the stage for a comfortable home.

Get good outdoor pictures — When you are taking pictures for the online listing, you may think that your property looks great with a dusting of snow. While this may be true, it also may not be able to sell a home if all of your pictures show it covered in snow. Exterior pics should accentuate all the great selling points of your home and this is hard to do if the property is covered in snow and ice.

If you’re trying to sell your home this winter, it’s not a good idea to decorate it as bright as the Christmas Vacation home. But there are some tasteful, modest things you can do to help emphasize your home’s “cheery” qualities that make it feel like a great home for the holidays.

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What Buyers Need to Know About Home Inspections

Written by Marybeth Heckler on November 30, 2020. Posted in Real Estate.

For those in the market for a new home, there are lots of different pieces of advice that people will try to offer you about buying a house. But one piece of advice is so good that you can take it to the bank.

It is absolutely imperative that you get a good home inspection before you sign on the dotted line. Failure to do this can result in getting burdened with a real money pit instead of your dream home.

Here’s a rundown on what you need to know about home inspections:

Request an inspection — First, you want to put into your contract that you wish to have a home inspection performed. Once the contract is signed, then you have a couple of weeks (depending on how much time is specified in the contract) to find an inspector, have it conducted, and then decide on how to act based on the inspection.

Find an inspector — Next, you need to find someone who can perform an inspection on the house. Generally speaking, you want to start with your real estate agent. They usually have a list of inspectors that they trust. You can also check on their credentials by looking at online reviews of their past work. Also, be sure to check out their certifications so that you know they are up to date on everything.

Conduct the inspection — When the inspection is conducted, you should make plans to be there in person. Not only do you want to know how things go, but you also should be there to ask questions and to ensure that everything is checked out thoroughly. Your inspector needs to check out all of the areas of the property, including basement, cellar, and attic. The inspector will also need to ensure that all of the major systems such as plumbing, HVAC, and electrical are thoroughly inspected.

Review the report — Once the inspection is complete, you will receive a formal report from the inspector. Then, sit down with your real estate agent and review the findings of the inspection. Then, you are faced with a few choices such as whether to adjust your offer based on the inspection findings or require repairs to be made as a contingency of you buying the house. Additionally, if the inspection finds a major structural problem, it is still possible to walk away from the sale.

Buying a new home is one of the largest investments a person will ever make. To protect yourself from buying a home with major problems, it is imperative that you get a home inspection. This will protect you and ensure that your home is a safe one that you won’t throw your money away on.

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Questions to Ask Before You Buy Your Next Home

Written by Marybeth Heckler on October 12, 2020. Posted in Real Estate.

Buying a new home is not something you do on a whim or the spur of the moment. It is something that takes meticulous planning and careful decision making.

Whether you are buying a first-time starter home, expanding your house with the size of your family, or downsizing in your later years, there are certain aspects you need to know before you sign on the dotted line.

Here are the big questions you need to ask before you buy your next home:

What is my total budget? Begin with a little soul-searching about just how much money you can spend each month on a mortgage. As a rule of thumb, calculate your average monthly income. A mortgage should never be more than 25% of that figure. If it is, then you are not going to be able to afford basic living expenses.

How much do I need to put down on the home? For many people, the problem isn’t being able to afford the monthly mortgage. Rather, it’s the difficulty of putting together the down payment all at once. Put down as much as you can afford.

What’s the neighborhood like? If you have your eyes on one particular house, you need to also look at the neighborhood. Talk with your local police department or check the local newspapers to see if it is a high crime area. You can also check with them to see if anyone in the neighborhood is a registered sex offender. If you’re a parent or hope to be soon, look at the quality of the schools to see if they can provide a good education to your children. Finally, look to see if the home is in a flood plain or is prone to any other potential disasters.

How long has the house been on the market? This answer can really impact how much you have to offer on the home. If the house is a brand-new listing and the price is right, you may find yourself in a bidding war as multiple buyers jump in. However, if the home has been listed for months (or even more than a year), you may want to ask yourself what is wrong with it that others are passing it by. If it still seems like a good home, then offer less than the asking price and see if the homeowner is desperate enough to bite.

What other costs are involved? Buying a home is never easy, so you need to be prepared for hidden costs. First, estimate how much you expect to pay at closing. Also, pay close attention to the appliances and HVAC system and determine if these will need any upgrades or outright replacements. Finally, find out how much the property taxes are each year so you can include that in your budget.

If you are buying a new home, it is imperative that you do your homework first and get all the details down before you make your purchase. This is a major commitment and not one you want to make without all the facts in front of you.

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When’s the Right Time to Sell Your Home?

Written by Marybeth Heckler on July 2, 2020. Posted in Real Estate.

There’s an old adage that the three most important words in real estate are “Location, location, location.” But maybe it’s time to add a fourth one to that mix—time. As in, when is the best time to try to sell your home? There are many different currents of thought that suggest the best time of year to list your house.

Here are aspects you need to consider for your specific house and market before making the decision on when to sell your home:

Spring is Generally Best

The standard has generally been that spring is the best time to sell your home. During this time of year, people are out and more active now that the weather is getting warmer. As a result, you have more traffic going by to notice your house is for sale. Also, the weather is generally better which means it is easier to move. All of this adds up to a good combination which often leads to more sales. If you plan to put your home on the market during the spring, then it is a good idea to do repairs and touch-ups during the fall and winter to have it ready for the sales season.

Spring May Not Be Best

OK, you’re probably saying, isn’t this the exact opposite of what you just said. Yes, it is, but bear with me. Spring is usually packed with lots of people trying to sell their homes. Yes, you will get more foot traffic viewing your home, but you will also have A LOT of competition from other homeowners who are also following the old spring standard. Some studies have found that you may get more for your home if you try to sell in the winter (from November to March). This is because there are fewer homes on the market and those who are desperate to move don’t have a lot of negotiating room.

What About Summer and Fall?

Generally speaking, these have been slower times of the year for house sales. Depending on the weather in your area, summer is often too hot for people to want to get out and walk around properties. Also, people have other things going on like vacations and summer family activities. Similarly, fall is usually taken over by back-to-school activities. When you couple this with the sun going down earlier and the weather being rainy, then you can see why people don’t tend to go out to house shop during this time of year.

There are lots of different ideas as to when is the best time to sell your home. Ultimately, you need to find the date that works best with your market and your needs. Talk to your real estate agent to find the time that is perfect for you.

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Top 10 Must-Do’s for Buying Your Next Home

Written by Marybeth Heckler on May 28, 2020. Posted in Homeowner, Real Estate.

Buying a new home is one of the most important (and daunting) processes that many of us will go through. If you are new to homeownership, it can seem even more challenging as you may not know what to do to get the ball rolling on making a purchase.

Here are ten actions you need to complete before you buy your next home:

Determine your budget — When you go to a mortgage lender, they will tell you exactly how much “house” you qualify for. However, just because you qualify, it does not mean you need to jump into a mortgage of that size. Instead, sit down and do a tight budget that shows you exactly how much you can plan on spending each month. Then, use a budget calculator to “reverse engineer” how much you can afford to take on with your loan.

Get pre-approved for your loan — Now that you know how much you want to take out in your home loan, go to different lenders, and get pre-approved for the loan. Don’t be afraid to negotiate with these lenders. If one offers a low interest rate, then see if others are willing to get your business by beating that rate. But do this before you start shopping for a house as this will save a lot of time later on.

Read your loan paperwork CAREFULLY — One of the problems with the “housing bubble” was that people were buying homes they really couldn’t afford. The terms looked great, but they missed hidden costs such as balloon payments that made them go under. Be sure that you know all of the details of the loan and you agree with all of those terms before you sign anything.

Save all of your money — One of the biggest obstacles to buying a home is paying so much money upfront. However, the more money you can put down on the house, the less you will be financing and paying interest on. So, it’s important to use as much of your savings as possible to get the total down.

Make a list of must-haves — Once you know what your budget is, talk to a real estate agent about finding a house in your price range. Create a list of items you absolutely must have so that your agent won’t waste your time looking at other options.

Do more than one visit — Although the current situation may not allow for large visits such as open houses, you still need to do a walk-through of the home. If you think it’s one that you could be interested in, ask for another walk-through at a different time of day. Traffic patterns or neighborhood noise may be a problem that you didn’t notice on your first trip.

Don’t get pressured — If you’re unsure of a property, some real estate agents will push you with the “I’ve had lots of people looking at this property” line. This may be true. But don’t let yourself be pressured into making a decision. This is something you will be living with for years.

Negotiate the price — Don’t offer them their exact asking price. Go a little lower and see if there is any wiggle room in the price. All they can do is say no and you can still make a counteroffer.

Get an inspection — Before you sign anything, it is imperative that you get a thorough home inspection to check everything from the plumbing and electrical systems to the foundation. If something is wrong here, don’t be afraid to walk away from the deal.

Get a good mover — Once you’ve made your purchase, it’s time to move in. Be sure to look for a reputable moving company that is licensed and bonded. Hire them right away so that you can move in when you want without a hassle.

Buying a home is a big step but it doesn’t have to be a scary one. Make sure to follow these steps and you will be able to get the best deal so you can move quickly into the home of your dreams.

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The Most Effective Way to Relocate

Written by Marybeth Heckler on March 8, 2020. Posted in Real Estate.

Relocating to a new city or even a new state or country can be an exciting prospect as it has the hopes and promises of a fresh beginning. However, it can also be terrifying to many people who have to pick up everything and start over somewhere else.

What makes this transition even more daunting is the move itself—the organizing, the planning, and the packing!

Let’s take a look at ways to make this type of transition a bit smoother with packing and organizational tips that can really help you keep your sanity during this major move.

Get organized — You will just drive yourself crazy with a move if you are doing everything in a haphazard fashion. The good news is that there are a lot of apps and other resources that can help you get organized. You will need to create a timeline or calendar of all of the things that you need to get ready before you start loading a single box into a moving truck. You should also use this time to plan your budget for the move and decide if that budget allows for the hiring of professional movers.
Get rid of “junk” — The next big step in this process is to declutter your house as much as possible. I suggest doing this room-by-room. Go into your bedroom closet, for instance, and start three separate piles. The first will be the stuff you want to keep and take with you. The next would be items like clothes and other things that are in good condition that you don’t want or need anymore. These will be your “donate” pile.

The last pile will be for stuff that you don’t want or need that isn’t in good condition. Just toss this pile straight into the trash. The more stuff you can get rid of, the better because it’s less hassle for you. (You can also toss the donate pile into a yard sale and try to make a few extra bucks before donating them. This money can help buy pizza for your friends as you entice them to help you move.) Once you’ve done the first room or area, move on to the next in a systematic fashion.

Create an essentials bag — When you get to your new location, you will need a few days to unpack your stuff. Pack a bag of the essentials that you will need immediately. This will include 2 to 3 days of clothes, toiletries, your electronic devices and chargers, and other essentials such as medication. If you have children, make sure that you pack one for them as well and include a couple of cherished toys or a book to help keep them occupied.
Stay organized — Once you start boxing things up, be sure to stay organized. Keep a running list of how many boxes you have for each room and put this information on the outside of the box. (For instance, a label might say “Kitchen 5 of 16” meaning that is the fifth box out of a total of 16 that are headed for the kitchen.) This way, you can keep up with everything and know if you are missing any boxes quickly and easily.

One of the most important things that can help make any relocation easier is advanced planning. Trying to throw everything together the night before a move isn’t going to be successful. By staying ahead of the game, you will not feel rushed and frustrated and your move will be a smooth one.

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Is Your Family Ready to Upsize Their Living Space?

Written by Marybeth Heckler on July 15, 2019. Posted in Real Estate.

When the housing bubble burst in the early 2000s, a lot of people realized they had purchased homes that were too big for them. Since then, many people have been skittish about upsizing their homes for fear of taking on more than they can afford.

This is certainly a valid argument, but you should still be able to upsize if your finances and lifestyle allow for it. Here are some things to think about as you decide whether or not upsizing is right for your family.

Determine what you need…and if it is a need—The first thing you want to do is determine just how much house you need. If you are currently in a two-bedroom, two bath home with three or more children, then you are going to have to look at a larger home. However, a family with only one child may be able to live comfortably in a two-bedroom home. Ultimately, think about what you want in your new home that your old one does not have. Then decide if these are absolute must-haves or features you can live without.
Do some financial soul-searching—Take a look at your budget for each month. If you are barely scraping by after paying your bills, then you are going to probably have to stay where you are. But if you are able to put a lot into savings or you have discretionary funds that you can use, then you need to calculate that into what you can afford to buy. Look closely at what you can afford before you start to shop around.
Don’t forget to calculate utilities and other expenses—Remember that a larger house also means a higher utility cost. Use your current utilities cost as a baseline. For example, if you are in a 1500 square foot house and pay, on average, $250 a month in power costs. If you upgrade to a 3000 square foot home, you could see your power bill climb to $500. That’s a big jump that you need to factor in when making your plans. The same can be said for other expenses such as lawn care if you move into a home that sits on a larger lot.
Location can have an impact—Remember that it’s not just about the size of the house, but also about the location. If you buy a 2000 square foot home in one neighborhood, you may be able to get a 2500 square foot home for almost the same cost IF you are willing to move to a less desirable neighborhood. This might mean moving farther away from your work or other social requirements. But if you are willing to make this sacrifice, you may be able to afford a larger home.

If your family is growing and you are in need of a larger house, then it’s time to do some research when it comes to your finances and home needs. If you’re ready to make the move to a larger home, you need to make sure that you can afford it before you decide to commit.

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How to Prepare to Buy Your First Home

Written by Marybeth Heckler on May 16, 2019. Posted in Real Estate.

If you’re thinking seriously about buying your first home, then you should know that the experience can be trying and difficult at times. The process can be a long one and can sometimes feel a bit overwhelming.

In the end, however, when you walk into that home knowing that it’s yours, it feels so much more satisfying than renting. You should feel pride in what you have accomplished, especially knowing the economic benefits of owning versus renting.

With that being said, here are some things you need to do as you prepare to buy your first home:

Check your finances—The first thing you need is a realistic appraisal of your finances. You have to determine if homeownership is something that you are financially ready for. Look at all of your monthly expenses and figure out if you will have enough money to put into emergency savings in case something breaks and you have to fix it. You will also need to have a substantial amount in savings for the down-payment on the loan.
Get pre-approved—Next, you should start shopping around for the best interest rate on a pre-approved loan. If you get into a bidding war with other potential buyers, a pre-approval will actually swing in your favor since you don’t have to take the time to do extra paperwork. A pre-approved loan helps you find the cheapest rate possible and also helps you figure out exactly how much house you can afford.
Find a realtor—Next, you will need to find a realtor with whom you can work closely. You want a realtor who will take into consideration all of your must-haves and who can find the best fit for your needs and budget. A realtor should be familiar with all of the neighborhoods in your area and should be able to find you the home that will work best for you.
Hit a lot of open houses—An instinct for many first-time homebuyers is to go with the first house that catches their eye. Instead, you should look at as many homes as possible. Don’t settle on any until you are absolutely sure it’s what you want. This isn’t like a lease where you can move out after a year. You are making a long-term commitment, so you don’t want to rush in.
Get an inspection—Once you find a home you are interested in, it’s essential that you get a home inspection. You don’t want to buy a house with serious plumbing or electrical problems, only to have to sink thousands into it for repairs.

After you’ve gone through all of this, it’s time to make an offer and see if your bid is accepted. Then comes the worst part of the whole process—the waiting. But once you get that call that your offer has been accepted, the feeling of elation makes the process well worth the experience.

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Are You Ready to Be a First Time Homebuyer?

Written by Marybeth Heckler on May 2, 2019. Posted in Real Estate.

Home ownership, for most Americans, is both a dream and a sign of financial independence. But buying a home can be a scary proposition for many first-timers who may not understand everything about this complex process.

Here are some steps you need to take to become a first-time homebuyer:

Get your down payment together

First-time homebuyers can generally get a loan with as little as 3% down. However, this may come with additional fees and requirements such as having to buy private mortgage insurance. Twenty percent is often a better option for a down payment, but that can put home ownership out of most people’s range. A good 10% down means $10,000 for every $100,000 of a home that you want to buy.

Research mortgages

Next, you are going to want to look at different mortgage options. Become familiar with conventional loan programs like Fannie Mae and Freddie Mac as Federal Housing Administration (FHA) loans. If you are a veteran, you can also look into VA loans that may require no down payment.

Set your budget

Look at your finances and determine what you can afford to spend each month on a mortgage. This will prevent you from wasting time looking at houses that are outside of your budget range and keep you from getting in over your head with a mortgage that you can’t afford.

Shop around for interest rates

Don’t take the first bank you look at as the best for interest rates. Saving just a fraction of a percentage point has the possibility to save you thousands of dollars in the long run.

Get pre-approved

One of the best things that you can do as a first-time homebuyer is to come to your real estate agent armed with a pre-approval from a local bank. This can give you an advantage when you make an offer on a home as an owner will generally choose someone with pre-approval over someone without it.

Research the neighborhoods

If you are looking for a home, you need to list out the amenities you are looking for—such as proximity to public transit or shopping sites or the quality of the schools. Once you start looking at neighborhoods, be sure that they fit into these qualifications. Before you make an offer on a home, you should also research the crime rate for that area.

Don’t forget about closing costs

Another thing you need to do when you are calculating your budget is to remember to figure in closing costs. Estimate between 2% and 5% of your total loan when you are making this figure.

Being a first-time homebuyer can be an exciting (and terrifying) prospect. But with a lot of research and acquired knowledge, you can take the nervousness out of this process and perhaps even find the home of your dreams.

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Tips for Jumping into the Spring Homebuying Season

Written by Marybeth Heckler on March 28, 2019. Posted in Real Estate.

If you know anything about the home real estate market, then you know that spring is the biggest season for home buying. Buyers have been cooped up in their old homes all winter and are looking to move while sellers have had the same time frame to get their homes ready for sale.

But, if you’re looking to get into the homebuying market, then there are a few tips you should take care of before you start shopping.

Make a list—Before you talk with a real estate agent, you should write out all of the must-haves that you want in a house. How many bedrooms and bathrooms will you need? Is there a specific location that you want? All of these will help narrow down the agent’s search so you don’t waste your time looking at houses that won’t work for you.
Get your credit in line—A good FICO credit score is essential to buying a home. Let’s just say, hypothetically, you are buying a $300,000 home. A mortgage at 4.14% will run you a total of about $520,000. But if your credit is bad and your interest rate comes out to 5.73%, that same home will cost you about $630,000. That means that bad credit will make the same home cost you over $100,000 more than it would if you had good credit.
Save as much as you can—One of the biggest problems with buying a home is that you have to keep a lot of cash on hand for down payments and emergencies. The more you put down, the better your interest rate and monthly payments will be. But you should also have at least 1-2 months of income set into savings for a potential emergency, such as a major home repair.
Get preapproved—Because Spring is such a huge time for buying a home, you are going to be competing with a lot of other buyers that will be looking at the same prime properties. To make yourself look better to the sellers, you should arrive with a pre-approval from a local lender. These will generally carry more weight than a pre-approved loan from an online lender. You need to do everything that you can to make yourself look appealing to the seller.
Be ready to negotiate—It isn’t enough to just make an offer, cross your fingers, and pray. In a competitive market, you will probably have to pay list price and not be able to haggle down on the price. But, you can still negotiate other areas like extended home warranties and closing costs. This can save you some money without asking too much that might wind up killing the deal.

This spring, thousands of homes, both old and new, will be placed on the market. If you want to jump into this “selling frenzy” then you need to get your finances in order and be ready to negotiate in order to be successful.

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