Clements Realty Group



Posted by Clements Realty Group on 2/9/2018

Ready to purchase a high-quality residence for the first time? Ultimately, a first-time homebuyer will want to do everything possible to learn about the real estate market. By doing so, this property buyer can improve his or her chances of submitting a strong offer on a dream house, thereby increasing the likelihood of a quick, easy home sale.

Submitting a strong initial offer on a home can be simple Ė here are three tips to help a first-time homebuyer do just that.

1. Study the Current Housing Market Closely

A first-time homebuyer should allocate the necessary time and resources to learn about both buyer's and seller's markets. That way, a homebuyer can identify an opportunity to secure a terrific residence in any housing market and submit a competitive offer right away.

To analyze the real estate market, spend some time looking at the prices of homes that were recently sold in your city or town. This housing market data may help you differentiate between a buyer's and seller's market and map out your homebuying journey accordingly.

Furthermore, don't forget to check out the prices of houses that are currently available. With this housing market data in hand, you can better understand what it means to submit a strong offer that matches or exceeds a home seller's initial asking price.

2. Get a Mortgage in Advance

A first-time homebuyer definitely should get pre-approved for a mortgage. This will enable a homebuyer to enter the housing market with a budget that he or she can use to narrow a home search.

To obtain a mortgage, a homebuyer only needs to meet with banks and credit unions in his or her area. Each lender meeting is exceedingly valuable, as it enables a homebuyer to learn about assorted mortgage options and receive answers to any mortgage questions.

In addition, those who are pre-approved for a mortgage will know exactly how much money they can spend on a house. And as a result, these homebuyers can submit a competitive offer on a residence from the get-go, improving their chances of securing a first-rate residence in no time at all.

3. Collaborate with a Real Estate Agent

A real estate agent is a must-hire for a first-time homebuyer, and perhaps it is easy to understand why.

Thanks to a real estate agent, a first-time homebuyer can differentiate between a strong offer and a "lowball" one. In fact, a real estate agent will go above and beyond the call of duty to ensure a homebuyer can get the best price on a house, regardless of whether this property buyer is operating in a buyer's or seller's market.

Perhaps best of all, a real estate agent is happy to offer honest, unbiased homebuying recommendations. He or she can provide expert insights to help a homebuyer determine exactly how much to offer to acquire his or her dream residence.

When it comes to buying a house for the first time, there's no need to leave anything to chance. Instead, use these tips, and a first-time homebuyer can submit a strong offer and move one step closer to purchasing a home that matches or exceeds his or her expectations.




Categories: Buying a Home   buying tips  


Posted by Clements Realty Group on 1/19/2018

The rent vs buy dilemma is something that Americans have been facing for decades. Both options have their benefits, and itís really a matter of timing and preferences when it comes to choosing which is best for you.

However, there are a lot of things to consider before making this decision. So, in todayís post weíre going to break down some of the benefits of renting an apartment and of buying a home. That way you can make your decision with a clearer picture of what each situation looks like.

One thing to note first, however, is that it isnít always as simple as buy vs rent. Some living situations draw on the pros of each type of living. For example, living in a condo might be a good option for people who want the privacy and independence of owning their own home, but who also donít have the time or desire to keep up with maintenance.

So, as we compare buying and renting, keep in mind that the features of each are not mutually exclusive.

Renting an apartment

Most people who are living on their own for the first time start off renting. For younger people just out of school, renting offers the first taste of independence without the prerequisites of homeownership.

When you rent your first apartment, youíll learn the skills associated with budgeting for your monthly expenses, making your rent payments on time, and will start learning some of the skills that it takes to run a household.

In terms of monthly costs, apartments can vary greatly. Depending on where you live (and how luxurious the apartment is) you could end up having rent and utility payments that are much lower or much higher than mortgage payments for a house.

However, apartment leases often come with the benefit of utilities, trash removal, and other expenses built in. They also typically require the landlord to maintain the apartment and the land it sits on.

Live in the northern part of the country and hate shoveling snow? Make sure your lease specifies that your landlord will provide snow removal.

One technique that many renters take is to find an apartment that is small and affordable while they save up for a home. In this case, itís worth living with fewer amenities if your end goal is saving for a down payment.

But, what if you want to own a home someday but havenít quite decided where you want to settle down? Maybe your work keeps you moving from place to place or youíve always wanted to move away to somewhere new.

Renting is typically a better option for those who arenít quite sure what their plans are for the next coming years. They can have a stable place to live while they figure things out and plan their next move.

Buying a home

Once youíve rented a home for a while, you might become increasingly aware that you want more space and more control over your home.

Youíre also likely noticing how much money you spend on rent each month that is essentially a net loss.

When you buy a home, your mortgage payments might be going to the bank, but someday the money youíve paid toward that home will be yours in the form of equity. You can then use this as a down payment for another home.

This financial benefit cannot be understated. Since house values dependably increase over time, owning a home is a great investment toward your future.

So, those are the main pros and cons of renting vs buying a home. Think about your circumstances and determine which one makes the most sense for you right now. Then, start planning for the future.




Categories: Buying a Home   rent vs buy  


Posted by Clements Realty Group on 12/15/2017

Obtaining a home loan is a must for most homebuyers. However, assessing a wide range of home loan options and making the best-possible decision can be difficult, particularly for a buyer who is evaluating these options for the first time.

Lucky for you, we're here to help you perform a deep analysis of home loan options and make an informed decision.

Now, let's take a look at three tips to help you evaluate different home loan options.

1. Find Out How a Home Loan Works

The home loans that one lender offers may differ from the options provided by another lender. As such, you'll want to learn the ins and outs of each available home loan to guide your decision-making process.

Understanding how a home loan works may make it easy for you to discover your dream house too.

For example, if you get pre-approved for a home loan, you can enter the real estate market with a budget in hand. You then can use this amount to narrow your house search, which may lead to a fast, seamless homebuying experience.

2. Understand All of the Costs

The total amount that you pay each month under the terms of a home loan agreement may vary based on a variety of factors. Fortunately, if you understand all of the costs associated with a home loan, you may be able to find a loan that matches your finances.

Review all of the paperwork associated with a home loan as well. That way, you can find out the length of a home loan agreement and other relevant home loan information and proceed accordingly.

3. Get Expert Home Loan Insights

There is no such thing as "bad" questions about home loans. And if you're uncertain about how to proceed with a home loan, you can always receive expert guidance from a lender.

Oftentimes, lenders employ friendly, knowledgeable home loan specialists who can respond to your concerns and questions. If you meet with these specialists, you can get comprehensive home loan insights that you may struggle to obtain elsewhere.

As you get ready to pursue a home loan, you also may want to consult with a real estate agent. This housing market professional can help you get in touch with the best lenders in your area and secure a home loan in no time at all.

Of course, let's not forget about the assistance that a real estate agent can provide throughout the homebuying journey, either.

A real estate agent will serve as your guide to buying a house. He or she will help you hone your home search, explore top-notch residences in your city or town and find a residence that matches your expectations. Plus, a real estate agent will even negotiate with a seller's agent on your behalf to help you get the best price on your dream house.

Ready to make your homeownership dream come true? Use the aforementioned tips, and you can secure a home loan and take the next step toward purchasing your ideal residence.




Categories: Buying a Home   home loans  


Posted by Clements Realty Group on 11/6/2015

OrganizedWhether you buy your first home later in life, or directly from college, buying your first home is a major milestone in your life.† For that reason, there are things you need to be knowledgeable about before your purchase is complete. You will want to safeguard yourself so you know that you are getting a home and a loan that you can afford. Here are a few tips from mortgage and real estate pros to help prepare you for the biggest purchase of your life. Using an Agent If you are a buyer, then there is no reason not to use a real estate professional. It does not cost you any more money to hire an agent. That agent will do more than find you that perfect house. You will discover that after you find a house is when you will need that agent the most.† The agent will use their expertise to present your offer to the seller and then address issues that may arise between contract and closing. House Hunting Remember, location, location, location. This is very important when buying a house.† Location plays a big part in determining the market value of the home. Before you start the house hunting process, make sure you know what neighborhood is a good location for you. Also, it would be good to have an idea of what style home you are looking for. Real estate moves quickly, so if you see a property that you love, you should move on it before someone else does. Find a Loan that Works for Your It sure can be tricky business trying decide what kind of loan is right for you.† There are many different types of loans that you should be aware of.† There is an Adjustable rate mortgage which has an interest rate that is linked to an economic index. So as the index changes your interest rate and payments may go up or down. There is also a 30 Year Fixed Rate Mortgage as well as a 15-Year Fixed Rate Mortgage. Some state and county maximum loan amount restrictions may apply. Home Buyer Alternatives for First Timer Saving for a first home can sometime seem like itís a hill that too steep, but donít worry there are assistance programs that can help. The Federal Housing Administration offers loans to people with a credit score as low as 640, low down payments and down payment assistance. There are also VA and USDA loans: Certain active members of the military and veterans as well as qualifying residents of designated rural areas can qualify for a 0% down-payment housing loans that are free of mortgage insurance fees. How Much Do You Have to Put Down? It really depends on what type of loan you have. If you have a conventional loan then you may have to put as much as 20% down. It is possible to put 5% down on a conventional loan if you donít mind paying mortgage insurance.† If you go with the FHA loan you will need at least 3.5 % down.† For people who are relying on others to help with down payments, an FHA loan may be a good option. First time home buyers need to look around and know that there are a multitude of down payment assistance offers by state or local governments. Closing cost: There can be a lot of hidden fees in closing costs; first time home buyers should be aware of these costs.† These fees are typically included in the closing costs, including fees for commissions, appraisals, inspections, certifications and surveying.† There will also be fees for government record changes, tax and title services and transfer taxes.





Posted by Clements Realty Group on 10/2/2015

Are you looking for a deal when buying your next home? Buying a fixer-upper home just might be the way to go but there are some important things to know before you buy. These helpful hints can help you save time, money and a lot of headaches when buying a fixer-upper. Set a budget: You need to know how much money you can afford to spend. You will want to factor in the price of the property plus the cost of the renovations. Remember to plan for the unknown, add at least 10% to it for "overruns". Most projects never seem to go as planned. Plan ahead: Buying a fixer-upper requires more planning. When looking at potential homes you will want to make a list of renovations. Try to come up with an estimated cost of the renovations. You will also want to identify whether or not you have the expertise to do the renovations or if you will need to hire a contractor. Get a home inspection: There are some things that are unseen to the untrained eye. A good home inspection will be able to tell you all of the needed repairs and potential pitfalls. Remember buying a fixer-upper is an investment. Follow the tips on this list and you will be prepared for the project of buying, renovating and owning a fixer-upper.







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