In light of the recent settlement between the National Association of Realtors (NAR) and the plaintiffs represented by class-action attorneys, home buyers need to be aware of new rules that will take effect nationwide on August 17, 2024. Here’s what you need...
When deciding on whether a pool should be on your house hunting wish list, balance these two factors: Any increase in the value of the house will be less than what it costs you to install, maintain, and insure a pool. That is true everywhere in the country. How much...
When you create an offer on a house, the Seller is going to ask you to prove that your mortgage will close on time. All you need is a pre-qualification, right? Nope. You need a pre-approval. A pre-underwritten mortgage is even better! What’s the difference? A...
Getting a pre-approval will help a buyer get their offer accepted. It’s simple; the seller wants to know that the buyer’s mortgage will close on time. That means a house hunter needs to have their pre-approval in hand when they begin house hunting. Murphy’s Law...
A pre-approval is a letter from a lender. It states that the lender will give this borrower a mortgage for up to the amount on the letter. A pre-approval states that earnings and debt and credit history have been reviewed and approved. A pre-approval benefits both...
Short sales are often promoted as an easy way to buy a property at under-market value. That certainly works sometimes, but the majority of the short sale transactions present a very different reality to buyers. This report will help buyers objectively evaluate short...
NAEBA asked Jon Boyd, Past President of NAEBA and long-time real estate broker serving only buyers, what he would advise consumers to do if they plan to buy a home in 2024. Jon indicated that it starts with the team – you, your buyer’s agent and the others who...
Indoor plumbing has been a thing for a long time now. If you read about housing in the early 20th century, you will read about apartment buildings with one bathroom shared with several households. That is mostly unheard of now. Before 1980, many single family houses...
Especially since 2020, it has become clear to buyers that having access to outdoor space and natural lighting is good for their quality of life. Being able to get outside makes it easier to get a bit of direct sunlight every day. Light is part of why we enjoy outdoor...
As soon as you consider house hunting, the question comes up, “how many bedrooms do you need?” When you are buying, you will be happiest purchasing something that you will not grow out of in less than ten years. When you think about how many bedrooms you need, think...
What does it mean to fail at a bidding war? If you enter a bidding war, and someone else gets the property, it might be a failure. It might not. Three ways to fail at a bidding war: Pay more for a property than its market value. And choose a property that does not...
The hardest part of the spring market is that there are more buyers in the marketplace. There are also more houses and condos for sale. You are more likely to find yourself making an offer when another buyer is making an offer on the same property. People call these...