Homes of Distinction Realty



Posted by Homes of Distinction Realty on 9/24/2017

Attending a home showing often represents a major milestone in the homebuying journey. But after you take an up-close look at a house, how should you proceed?

There are many questions to consider after you attend a home showing, including:

1. What Did You Think of the Home?

Although it may appear to be love at first sight after you view a property for the first time, it usually is better to err on the side of caution. Thus, after you check out a home, you may want to take at least a few hours to assess the property.

Does the residence fit your budget? Is the property big enough to accommodate your family? And is the residence close to your office? These are just some of the questions that you'll want to consider as you evaluate the pros and cons of a house.

Also, don't forget to consult with your real estate agent. This professional may be able to offer additional insights into a house that you might struggle to obtain elsewhere. By doing so, your real estate agent can help you determine how to proceed with a residence.

2. Should I Submit an Offer?

The decision to submit an offer on a house is a big one, particularly for those who want to purchase a high-quality property at a budget-friendly price.

Ultimately, you'll want to look at various housing market factors before you submit an offer on a residence. Consider how long a residence has been listed as well as the prices of comparable houses in the same city or town. Furthermore, you'll want to consider the property's condition and whether major repairs will be needed in the near future.

Your real estate agent can help you put together a competitive offer on a house that won't exceed your budget. This housing market professional will enable you to examine the pros and cons of a residence and make it easy for you to decide how to move forward after a home showing.

3. What Are My Options?

Homebuyers have many options after they view a house. They may choose to submit an offer on the residence. Or, if a house fails to meet their expectations, homebuyers can continue to explore the real estate market.

No homebuyer should feel backed into a corner after a home showing. Fortunately, your real estate agent will be able to outline all of your options. This real estate professional will simplify the process of finding your dream house and allocate the necessary time and resources to explain all of the options at your disposal.

Perhaps best of all, your real estate agent can answer any concerns or questions at each stage of the homebuying journey. That way, if you're uncertain about a residence that you recently viewed, your real estate agent will be able to respond to your queries without delay.

Take advantage of home showings, and you should have no trouble discovering your ideal residence.




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Posted by Homes of Distinction Realty on 12/20/2015

If there was ever a time to purchase real estate it is now. A unique combination of circumstances makes buying a home a no-brainer. Here are five reasons why you should buy a home NOW...   1. Houses are more affordable 2. Historically low mortgage rates 3. Prices are stable 4. Home ownership is the path to independence and wealth 5. Owning a home gives you pride of ownership Call today to find out what homes are available in your price range or do a quick search to look for homes and create a profile on this site to save your favorites.





Posted by Homes of Distinction Realty on 1/25/2015

To buy or not to buy that is the question. There are reasons for or against homeownership on both sides of the fence. So here are the pros and cons of buying a home. You decide... Pros: 1. It Costs Less- With record low interest rates, and low home prices a mortgage payment on a house can be less than a rental payments. 2. Equity -If you own a home rather than rent you are building equity. If you pay rent you have nothing to show for it. If you own a home you are building equity. Even if housing prices stay flat part of your mortgage payment goes towards the principal balance and eventually you will own the home. Cons: 1. You Could Get a Better Money Return-A home may not be the best return on your money. You may find a better return on capital in the stock market. If you are just looking at it in a strictly financial way there are better investment strategies. Historically, the S&P 500 has returned an average of 13.4% -- 4.8% higher than the 8.6% average return on housing. 2. It is a Big Commitment-You can't just sell your house and move quickly. It is a long term decision. If you job requires frequent moves this can be a significant consideration. Now that you have seen some of the pros and cons the decision is ultimately up to you and what is best in your circumstance. The pros cannot be disputed. Low rates and prices almost make buying a no-brainer if it fits within your financial situation.





Posted by Homes of Distinction Realty on 9/24/2014

When you think of a hot real estate market you usually think about the spring market but the fall is also a busy time for real estate. There are many benefits to buying a home in the fall. Buying a home towards the end of the year is a great way to get a tax break. Home buyers can deduct both mortgage interest and property taxes from gross income on their taxes. Buyers may also be able to deduct prepaid interest and closing costs. The weather in the fall can also be an ideal time to move. It can be difficult to move in the heat of the summer or in freezing temperatures or icy winter weather. Median homes prices typically peak each June or July. This is because families with children buy larger homes and want to get settled before the start of school. Prices slightly decline each September with purchases dominated by first-time buyers who usually buy smaller homes. The fall typically has a nice selection of inventory. Many sellers list their home for sale hoping to close the deal before the holidays. Some sellers may even be motivated to sell before the year end so they may be more flexible in their negotiations. Just because the inventory may be good the fall is still a competitive market. If you find a home you like don't be lulled into thinking other buyers won't like it too. Make an intelligent and carefully planned offer before another buyer comes along and betters your offer snatching the house out from under you.





Posted by Homes of Distinction Realty on 3/16/2014

Buying a home is a very important decision. Before you rush into a home you should consider all the factors. Making sure you end up with the right home involves figuring out exactly what features you need, want and don't want in a home. Before starting your search, you should make a "wish list" to decide which features are absolutely essential, which nice “extras” are if you happen to find them, and which are completely undesirable. The more specific you can be about what you're looking for from the outset, the more effective your home search will be. Also keep in mind, that in the end, every home purchase is a compromise. Create your own personalized "wish list" and when you're finished filling it out; share it with your real estate agent. Become an educated buyer •The web is one of the best ways to search for homes today. With this website, you can receive daily emails with new and updated listings from the towns and price range of your choice. •Search the entire MLS for all homes, condos, land, multi family, commercial properties, and past sold properties at your convenience. •View full listing sheets showing amenities, taxes, lot sizes, beds, baths, rooms, siding, fireplaces, garages, room sizes and much more. •Get property addresses and see where the properties are located on MapQuest. •Check schools and community profiles of your preferred towns. •Save preferred listings in your own file to view anytime. •Calculate approximate mortgage payments for specific properties. Home Inspection Once you have made an offer on a home, you will need to schedule a home inspection, conducted by an independent authorized inspector. It is extremely important to hire a reputable inspector so that you know exactly what you are buying. Do not hesitate to ask friends, family, and co-workers for advice. If you are satisfied with the results of the inspection, then you can proceed with the sale. If the inspector finds problems with the property, you may want to negotiate with the seller to lower the price, or to pay for certain repairs. Appraisal Your lender may require you to get an appraisal of the house you want to buy, to make sure it is worth the money that you are borrowing. You may select your own appraiser, or you may ask your real estate broker to help you with this task. Homeowner's Insurance Lenders require that you have homeowners insurance, to protect both your interests and theirs. Like everything else, be sure to shop around for insurance that fits your needs. Settlement or Closing Finally Make Sure Before you Buy Finally, you are ready for the closing. Be sure to read everything before you sign! You should have both your real estate broker and an attorney present at the closing to ensure that all is in order.