• What Are Off-Market Listings And How Can You Find Them?,Haydn Halsted

    What Are Off-Market Listings And How Can You Find Them?

    When it comes to searching for a home, most people start their search online using popular real estate search engines like Zillow or Realtor.com. However, these sites don't always return all of the available homes for sale, as many homes are sold before they even hit the market or are not listed due to privacy concerns or other reasons. This means that if you're relying solely on these sites, you may be missing out on your dream home. Fortunately, there are other ways to find off-market listings, and in this post, we'll explore some of the most effective methods.   Hire a Real Estate Agent Hiring a real estate agent is the best, simplest, and safest way to get access to off-market listings. Real estate agents have an expansive network of contacts and relationships that give them access to homes that may not be listed on popular real estate search engines. Here are some reasons why working with a real estate agent is a great idea: An Expansive Network: Good real estate agents have excellent relationships with their past and present clients, which means they are often the first to know when a home is coming up for sale. Additionally, real estate agents have relationships with other agents and industry professionals, giving them information about upcoming listings that can give you an edge in your search. Furthermore, if you're having trouble finding the perfect home in your price range, a great agent can proactively put the word out in their network to find it—even if it isn't on the market. Relationships with Builders: If you're looking for a newly built home, real estate agents are your best bet for finding off-market listings. Many builders don't list their newly completed homes in the MLS, and instead rely on their websites, word-of-mouth, and drive-bys to sell their homes and avoid saturating the market. But good real estate agents have existing relationships with homebuilders, so they know what's available and can help you find exactly what you're looking for—even if it isn't listed yet. Real Estate Industry Expertise: Expert real estate agents spend a lot of time and energy developing their skills, knowledge, and expertise, allowing them to best serve their clients and their community. They understand the complex and detailed processes that comprise every step of a real estate transaction, and they're prepared to solve unexpected problems when they arise. Additionally, their experience allows them to spot and alert you to red flags, helping you avoid pitfalls as you navigate your home search and ultimately your purchase.   Other Ways to Find Off-Market Homes While working with a real estate agent is the most effective way to find off-market homes, there are other methods you can try. Here are a few: Direct Mail: Direct mail is a method in which you send a letter directly to someone whose home you're interested in purchasing. If you've had your eye on a house that you pass every day after work, sending a letter to the owner to find out if they're interested in selling is an option. Although there's not a lot of risk in doing this, it's important to keep in mind that if the owner says "yes," you'll need to navigate the buying process on your own or hire a real estate agent to guide you through it. Real Estate Auctions: Real estate auctions are live events in which properties are sold to the highest bidder. While auctions can be a good way to land a great deal, there are some risks involved. Auction properties typically have reserve prices, and if bids don't reach that amount, the property won't necessarily be sold. Auction prices probably aren't as low as you think, and most auctions don't allow you to see the interior or perform an inspection   If you’re looking to buy a home in the local area, we’re your expert team. Our network and experience make us the right choice for your home purchase, and we’ll help you find exactly what you’re looking for—even if it isn’t on the market yet. can you revise this?

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  • How To Make Your Dream of Homeownership a Reality,Haydn Halsted

    How To Make Your Dream of Homeownership a Reality

    According to a recent Harris Poll survey, homeownership remains a priority for 8 in 10 Americans, and 28 million Americans plan to buy a home within the next 12 months. While owning a home offers many benefits, achieving this goal can be challenging. The reality is that not all 28 million Americans who plan to buy a home in the coming year will be able to accomplish that goal. Experts project that around five million homes will be sold in 2023, leaving many potential buyers unable to make a purchase. In the same survey, respondents were asked, "Which of the following are preventing you from pursuing homeownership at this time?" 34% answered, "I don't have enough saved for a down payment," while 30% answered, "My credit score." If you're aiming to buy a home, here's what you need to know to accomplish that goal.   Save for Your Down Payment The down payment is a significant upfront cost for a home purchase. Most buyers put down some amount of cash upfront and then take out a mortgage to cover the rest of the purchase price. It is a common myth that you need to pay 20% of the purchase price as a down payment. However, today's median down payment is 14% for the average buyer and just 6% for first-time buyers, according to the National Association of Realtors (NAR). Regardless of how much you can save for your down payment, help is available. A local lender can show you options to help you get closer to your down payment goal. There are even loan types, like FHA loans, with down payments as low as 3.5% for some buyers, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants. In addition to assistance programs and different loan types, here are a few tips to help you save for your down payment: Factor in closing costs, which are usually 2-5% of the home's purchase price. Maintain your savings. Your down payment should not deplete all your savings. It's important to still have some money set aside for homeownership expenses after you move in. Explore your options and seek expert guidance from a trusted advisor.   Improve Your Credit Score Your credit score is a crucial factor in determining your eligibility for a mortgage and the interest rate you'll receive. If your credit score is preventing you from getting an affordable mortgage, there are steps you can take to improve it. Here are two: Pay your bills on time. When you pay your bills on time, your credit score improves. One way to make paying your bills on time easier is to set up automatic payments when and where you can. Mix it up. Having a mix of different types of credit, such as auto loans, credit cards, and mortgages, can improve your credit score. If you want to purchase a home this year, it's important to build a team of professionals and start preparing. Contact a trusted real estate advisor to help guide you through the process.

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  • Get Ready to Score Your Dream Home: The Big Game Signals the Start of Spring Homebuying Season,Haydn Halsted

    Get Ready to Score Your Dream Home: The Big Game Signals the Start of Spring Homebuying Season

    While sports fans will be rooting for their favorite team to win, savvy homebuyers and sellers should use this occasion to get ahead of the spring homebuying season. Spring might seem far away, but potential buyers and sellers tend to start getting ready now. With just a few simple tips, you can make sure you won’t fumble during this upcoming real estate season, but instead, tackle it with confidence!   The clock is ticking With mortgage rates finally beginning to drop and many listing prices lower than last year’s peak, potential homebuyers are thinking 2023 might be their chance to score their dream home. If you’re a buyer, that means you’ll want to be prepared by getting your paperwork together for a loan preapproval, making that initial connection with a real estate agent, and putting together a list of must-haves. For sellers, now’s the time to plan the necessary repairs and clean-up tasks you’ll need to ready your home for those listing photos. You should also use this time to draft your real estate “quarterback”—that’s the real estate agent who will be in your huddle to plan the big moves! Just like a football team’s MVP, your real estate agent can mean the difference between a big win (a quick sale above the listing price) and losing big time.   Here’s everything you need to know:   Buyers should get their finances in order and obtain a loan preapproval (good for 90 days) Getting preapproved for a home loan, even if you aren’t 100% sure you’re going to purchase a home in the next 90 days, should be the first thing you do if you think homeownership will be in your future. A loan preapproval will tell you how much home you can realistically afford. At this time the lender will also tell you about any home buyer programs that can reduce your loan expenses or make a more expensive home more affordable. For instance, many first-time home buyers may be eligible for government and community mortgage programs that offer lower interest rates, cash grants for closing costs, forgivable loans for down payments, and other homebuying incentives. With a preapproval letter on hand, your real estate agent will know exactly what your budget is, and you’ll be able to make an offer as soon as the perfect home hits the market.   What’s the process for getting preapproved for a home loan? 1. Gather Financial Information: Before you start the preapproval process, you should gather all of your financial information including bank statements, pay stubs, tax returns, and any other documents that will help to demonstrate your ability to repay a loan. If you’re a remote worker and moving to a different city or state, you’ll need a letter from your employer stating that you will continue to remain employed even after your move. 2. Contact Lenders: Once you have gathered all of your documentation, begin contacting lenders who can provide preapprovals. You should shop around with different lenders in order to get the best rate and terms available for your specific situation. Trying to get the lowest mortgage rate possible? Check out our tips. 3. Submit an Application: When applying for a preapproval, most lenders will require you to submit an application along with supporting documentation such as income verification and credit reports from all three major bureaus (Experian, TransUnion & Equifax). This allows them to assess your current creditworthiness so they can determine how much they can loan you. 4. Receive Preapproval Letter: If you’re approved, the lender will issue a formal letter stating that you are approved up to a certain amount for financing on a property purchase or refinance transaction. This is known as a preapproval letter, and it’s valid for 90 days. Though contemplating finances may not sound like the most exciting thing to do on Super Bowl weekend, consider getting that loan preapproval the first week of February so you can scroll home listings with your friends during that Super Bowl party before the game begins!   Sellers should start getting their properties ready Home sellers looking to sell this spring should take a proactive approach to getting a home ready for the market. Since much of this preparation involves decluttering and beautifying, the week before your big Super Bowl party is a great time to get started—that way all your friends and neighbors will get to enjoy your festivities while your home is looking its best!   Start with cleaning, repairs, and upgrades Decluttering and depersonalizing your home can make the property feel larger and more inviting to potential buyers. Use this time to also address any minor repairs such as patching holes and fixing or replacing leaky faucets. Upgrading cabinet hardware is also an inexpensive way to create a more polished look, while putting fresh mulch in your yard is one of the most cost-effective ways to add appeal to your landscaping. A few new plants and shrubs will also add color without breaking the bank. If it’s time for a repaint, look into trending but neutral colors. Consider staging your home with modern decor so that buyers are able to envision themselves living there. Finally, deep cleaning is essential before listing so that prospective buyers are presented with an immaculate space from top-to-bottom. Taking these steps will help ensure that you get the most out of your listing and open house.   Both buyers and sellers should connect with a real estate agent right away Engaging with a real estate agent early on is the winning move for both home buyers and sellers. Agents know the local market and can let you know about hot homes before they’re listed or they can connect you with the perfect buyer before your home even goes on the market. An experienced real estate agent is like a great coach who can help you work through all the strategies of buying and selling, so you don't get sacked by any unexpected surprises. Whether it's kicking off your search, or scoring the ideal price when selling, having an agent on your team can mean the difference between success and failure. So don't fumble this opportunity—make sure to connect with an agent before Sunday’s big game!   Ready to score a real estate touchdown? If you’re feeling like you need a game plan or want to talk about your individual goals, our team is here for you. We can answer any queries and guide you through all 100 yards of your real estate experience.

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