Resources

Mortgage Calculator:

Home Selling Tips

Pricing your home correctly is one of the most difficult decisions encountered when placing your house on the market. Your asking price will determine how Real Estate Professionals present it for sale, how prospective buyers will assess it, and ultimately, how quickly you are able to close a deal.

These tips can help you put a price tag on your home that will get you a sale. Always remember to set an asking price consistent with the local market that also reflects the value of your home. Don’t be discouraged by local market conditions either, a poor market will not prevent a sale on your home if you set an asking price according to current conditions. If you price your home correctly, it will sell.

• The more houses on the market in your area, the more competitively you need to price your home. Make what you have to offer a real value to grab a buyer’s attention from the word go.
• Don’t build negotiating room into your initial selling price. It will be easier to make a sale if you price your home correctly at the beginning than to risk losing too much in negotiations.
• Major advertising and lots of open houses are not always the solution to getting your home sold. If you price it right, it will sell.
• Take note: An over improved home may take longer to sell if it is not priced correctly for the neighborhood. Make sure your asking price is consistent with the area.
• What a real estate professional says your home is worth is not always what a buyer will be willing to pay. Approach from the buyer’s perspective.

Home Buying Tips

Before consumers go home shopping, there are some preliminary steps to save time, money and wasted effort.

Pre-Qualify:

If you are a first time buyer, consider getting yourself pre-qualified first by a reputable mortgage bank. They can provide counseling on the many types of loans tailored to your financial situation. By pre-qualifying for a mortgage, you will be aware of how much house you can afford before you start shopping. There is no fee for the financial consultation. However, there is a small charge to cover the cost of the customer’s credit report. The mortgage company will advise you as to what documents they need for you to bring for consultation; call ahead and make an appointment.

Determine the Best Type of Loan for your Need:

The mortgage lender will help explain the difference between the adjustable or fixed-rate mortgage so you can determine what is the best type of loan for you. The period of time you can expect to live in the house will be a major factor in deciding the type of loan you are looking for. They will give you the amount of down payment required, amount of closing costs, and the amount of your monthly payment for each type of loan.

Advantage:

The advantage of a pre-qualification is knowing how much house you can afford, and once you have found it, you are ready to contact your real estate salesperson and start looking for your dream home. When you find the home you want to purchase, you are ready to make your offer knowing that the home is in your price range. Advance credit approval will also help you negotiate a better deal with the seller. After you have made an agreement to purchase and have your accepted contract in hand, you are ready to make your application to the lender.