How to Find the Best Real Estate Agent for You - How to Find the Best Real Estate Agent for You Now that you’ve decided to buy or sell a house, how do you find a reputable real estate agent to guide you? The best place to begin is with personal referrals from family and friends. With whom have they worked and had a good experience? Check online reviews and see who is highly recommended in your area. Collect a few names and set up interviews to meet with them. First, make sure you feel comfortable talking with the agent. Is he or she able to answer questions in a way that makes sense? Ask the potential agent to explain either the home buying process or their marketing strategy for selling your home. Ask for referrals if you didn’t see any online. Here are a few other key questions to ask: • Do you work full-time or part-time? A full-time agent is more likely to be available and aware in a hot market like Manatee County. • How long have you been an agent? How long have you worked in this area? How many current listings do you have in Parrish, Ellenton, Bradenton, Palmetto, or St. Pete? • What are…
What Are Credit Scores and Why Are They Important? - What Are Credit Scores and Why Are They Important? You’re ready to look for a dreamy new home in Manatee County. What’s your first step? Find out your credit score. Mortgage lenders and other financial institutions use credit scores to determine how much of a risk they’re taking in loaning money to you. When you have a high credit score, lenders view you as less of a risk and are able to offer home loans with better terms. That’s why understanding your credit score and improving it will not only allow you to secure a mortgage loan, it will save you money over time. Your credit score is based upon the following: 1. How consistently you make payments on time. 2. How much credit you’ve used versus how much credit you have available. 3. How long you’ve had a credit history. (The longer, the better.) 4. What types of credit you have, such as car loans or credit cards. 5. How many new credit accounts you’ve recently opened. Scores are between 300-850. The higher your score, the better you look to a potential lender. If your credit score is too low, you may not even qualify for many mortgage…
Tips for Buying a Home in a Seller’s Market - Tips for Buying a Home in a Seller’s Market In a seller’s market, home inventory is low, prices are up, and homes sell quickly. Competition can be intense for buyers. So what can you, as a buyer, do to gain an edge? The first thing you can do in a seller’s market is to start house hunting as early as possible—and then be patient but ready to act quickly. It may take more time to find or get the home you want. Clear your schedule so you can tour a new listing as soon as possible. Don’t wait for the weekend. It’s essential that you get preapproved from a reputable lender to show the seller that you’re ready and able to buy. Show proof that you have funds for a down payment and offer it (or more) up front as an earnest money deposit. When you find the home you love, be prepared to make your best offer first. Since bidding wars are a strong possibility in a seller’s market, it’s wise to look at homes that are a bit under your maximum budget. This gives you room to negotiate or bid higher than the asking price, if needed.…
Why You Need to Work with a Real Estate Professional - Why You Need to Work with a Real Estate Professional When it came to fixing vehicles, “Don” knew what he was doing. It was never his profession, but he’d worked on his own machines for fifty years. Then, after a simple oil change on his newest van, something went very wrong. A slight error with an air filter cost him an entire engine. Had he gone to a professional mechanic, he’d had to pay for the oil change. But he also would have saved thousands of dollars in the long run! The same is true with buying or selling a home. In an attempt to “save” money, many home buyers and sellers discover—too late—that doing things on their own was a costly mistake. Real estate professionals are experienced negotiators with a deep knowledge of homes, rules, and networks. Their expertise is priceless. They are under “fiduciary” duty, which means they are legally responsible to put their clients’ best interests first. There are other reasons why it’s essential to work with a real estate professional in Florida. Houses listed as “For Sale by Owner” typically sell for less money. Yet they require a lot more work, since you have to…
Tips for First-Time Home Buyers - Tips for First-Time Home Buyers It’s exciting to think about buying your first home! It can be a great adventure. It can also be confusing and frustrating when you don’t know what to do. Here are some important tips for making your first home-buying experience as smooth as possible. 1. Get pre-approved for a mortgage loan before you start house shopping. Remember that prequalified and pre-approved are not the same thing. You may find out that you need to work on your credit score before house shopping. Or that you haven’t been at a current job long enough. It’s better to find out if you’re approved–and for how much—before you look at houses and fall in love with one that’s outside your budget. 2. Talk to at least three lenders and compare closing costs and interest rates. Ask about Florida grants and government programs such as FHA loans, VA loans, and USDA loans, which could help you buy a home with minimal down payment and good rates. 3. Check and double-check your monthly budget. Just because you’re approved for a certain loan amount, be realistic about how much you can actually afford. Remember to factor in property taxes and…
Why the Holidays Are a Good Time to Sell a House - Why the Holidays Are a Good Time to Sell a House There are several reasons why selling your house during the holidays is a great idea: the competition is less intense, buyers are motivated and have time to shop, and it’s the perfect opportunity to stage your home for maximum emotional appeal. Since some homeowners don’t want the inconvenience or falsely think they should wait to list their property, sellers face less competition during the holidays. Your home will be even more appealing to buyers when there are fewer listings to compare it with. This is especially helpful if your home is in a less-than-desirable location or needs some minor upgrades. In addition, home prices peak when demand exceeds supply. Though the number of homes listed for sale decreases during the holidays, buyers are out there year around! Many companies relocate workers during the holidays so they can start off the new year with a fresh team. Also, for people up north, the holidays come with plenty of cold weather, snow and ice. Chances are, as the cold settles in, some northerners want out! Your nice, warm Florida home will have them dreaming of a sandy Christmas. Other potential…
Why Staged Homes Sell Faster - Why Staged Homes Sell Faster Stores create attractive displays that make you want to purchase expensive items. Visit Ikea in Tampa and you’ll see plenty of “staged” rooms that appeal to a buyer’s longing for organization and style. Unfortunately, real life isn’t so neat and tidy. Stores don’t have pets and kids running around, meals to cook and laundry to wash. But you do. You likely also have collections, pictures, and displays with emotional value that aren’t as attractive to others as they are to you. A staged home is one that has been cleared of clutter, deep cleaned, decorated, and arranged to create the highest appeal to a potential buyer. Staging your home gives it the “wow” factor, making it stand out online and in person. Buyers will like what they see and be willing to move quickly and spend more. The cleared kitchen countertops and sparse, tasteful décor of a staged home make it seem bigger and more user-friendly. In contrast, clutter makes a potential buyer think there’s not enough space in the house. Minimal furniture and few personal items, along with neutral paint colors, help a buyer envision the space as their own instead of the…
Free Ways to Prepare for Hurricane Season - Free Ways to Prepare for Hurricane Season Florida’s hurricane season is June 1 through November 30. It’s wise to gather supplies such as plywood and surge protectors before a storm threatens. As you prepare, though, don’t miss out on these simple things that you can do for free. First, information is free! Take time—before it is urgent—to look at evacuation routes, shelters, and evacuation zones. Consider your pets when making plans. Some shelters accept pets and others do not. If you live in Manatee County, you can go to mymanatee.org to find shelters and evacuation procedures. For Sarasota County, visit svgov.net. Another way to prepare for hurricanes is to check your home insurance policy. Make sure your coverage is sufficient to replace your assets. Place a copy of your insurance paperwork in a bank safety deposit box or watertight safe, along with a detailed inventory, pictures, or video of your property and valuables. This is also a good time to review the insurance policy for your commercial properties. When it comes to food, purchase items that your family will eat anyhow, so that you can use them eventually, storm or not. Stock up on pet food, canned vegetables and…
What Is a Buyer’s Market vs. a Seller’s Market? - What Is a Buyer’s Market vs. a Seller’s Market? When is the “right time” to list your home for sale? How do you get the best deal on an investment property or new home in Manatee County? The answers to those questions are found in knowing the difference between a buyer’s market and a seller’s market. Just like with gasoline or groceries, prices fluctuate according to supply and demand. Gas prices dropped significantly during the quarantine because fewer people were traveling and the demand, or need, for gas wasn’t as high. Gas suppliers had to drop their prices in order to compete for business. In the same way, when many people are selling their homes at the same time, the demand, or need, for a home doesn’t seem as critical. Home prices drop because buyers have more options and those selling their homes have more competition. This is called a Buyer’s Market because the buyer has the advantage. This is the best time to look into investment properties, buy a new home, and purchase that Florida vacation get-away you’ve been dreaming of. A seller’s market, on the other hand, is when fewer homes are listed for sale. Buyers have…
