5 Reasons to Sell during the Holidays

Going back and forth about whether to list your home during the holidays or after? Here are 5 reasons why you SHOULD sell during the holidays!

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  1. While there may be less buyers out there, people who look for a home during the holidays are serious and ready buyers.



  2. There are fewer homes for buyers to look at during the holidays which means less competition for you. Less competition equals more offers!



  3. After the holidays the supply of listings increases substantially which lowers the demand for your home. When there are more listings to compete with, the less buyers are willing to submit a higher offer and can easily decide to walk away.



4. Your home shows better when decorated for the holidays. Gives the buyer a better visual and feeling for what their future home could potentially be like during the holidays!



5. Many buyers have more time to look for a property during the holidays (as opposed to their regular busy work week schedule).



Plus, fall/christmas scented candles smell amazing when buyers first walk into the home!

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If you need help assessing your home and would like a free evaluation, contact me today.



Who's Who and Who pays for what? ....(When Buying a Home)

A question many first time home buyers ask..



Who’s who and who pays for what when purchasing a home?

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Lets start with the basic roles in a transaction:

  1. The Buyer’s Agent (Buyer representation)

2. Buyer

3. The Listing Agent (Seller representation)

3. Seller




The Breakdown…




  1. When purchasing your first home, the first step is to choose a realtor you trust that will represent you. In this case, the realtor will be known as the - Buyer’s Agent.




    The Buyer’s Agent will:

    • Be your advisor during the entire home buying process. This will include educating you about the current market conditions, informs you of the top neighborhoods and communities that best fits your lifestyle, researches the best properties that fit your criteria’s and budget according to your needs and goals. Once you fall in love with a home, your agent will be the one to help you write up an offer and guide you throughout the entire escrow process.

    • Handles the in’s and out’s of the negotiation process.

    • Advises buyer’s on how to handle any repairs needed on the property.

    • Will accompany you during the final walk-through before closing to make sure all repairs are done well.

    • Hand the keys over!

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2. Now that we’ve discussed the role of a Buyer’s Agent…let’s sprinkle a little treat for the buyers - buyers don’t pay any of the Buyer’s agent commission! Yes, this means there is no cost to hire a realtor when purchasing your home. When you call me for a consultation, this too is at no cost! As a professional realtor, I’m here to be of help to my clients and educate them the best I can about real estate.

Buyer’s:

  • It costs you zero to have an agent representing you!

3. The Listing Agent assists homeowners on how to sell their home at the highest price possible according to the current market condition.

The Listing Agent will:

  • Negotiates with the Buyer’s Agent to come to an agreed upon price between the buyers and the sellers.

  • Negotiates repairs with Buyer’s Agent between sellers and buyers.

  • Makes sure everything is going smoothly with escrow and the deal closes on time.

  • The Listing Agent shares commission with the Buyer’s Agent from the sellers side.

4. When representing the seller, the commission is taken out of the selling price. The percentage is always negotiable and is always set when the Listing Agreement is created.


All in all, our role as agents are to work together as a team with our buyer’s and seller’s to provide the best service and experience we can for our clients. If you’re interested in wanting to know more about the home buying or selling process, feel free to contact me to schedule your free consultation!

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Which Loan Best Fits You?

First lets start with the basics:

What is a loan?

A loan is a sum of money borrowed that is expected to be paid back with interest. 

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When purchasing you're home, you'll need a mortgage loan (unless you're paying full in cash). A mortgage loan is a legal agreement made between you and a bank or preferred lender that lends money with an interest rate in exchange for title of the property being purchased. Upon the payment of debt, the title will be conveyed to the owner (you). 

When choosing what loan best fits first time home buyers, I recommend meeting with a mortgage broker before deciding on a loan. A bank can also provide loans too, except they are limited to that bank alone. 

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1. Conventional

2. FHA

3. VA

4. ARM

5. USDA

 

 

1. Conventional Loan:  This loan is the most common mortgage option. This loan is not made or insured by the government. This is called a non-GSE loan (non-government sponsored entity). Half of all conventional loans are called "conforming" mortgages due to being conformed by guidelines made by Fannie Mae and Freddie Mac. People usually choose conventional loans because they offer better interest rates and loan terms which results to lower monthly payments.

* Best For: Repeated Buyers *

Down payment: 20% standard - 10% minumum  (3% - 25% of a home's value) all depending on the borrower's credit and financial standing. Low rates for borrowers with excellent credit.

 

2. FHA (Federal Housing Administration) Loan: This option makes ownership more affordable with less down payment and easier credit requirements. An FHA loan is insured by the Federal Housing Administration. Borrowers who have FHA loans pay for mortgage insurance - this protects the lender from a loss if the borrower defaults the loan. Those with a credit score lower than 500 are ineligable for an FHA loan.  

* Best For: First time home buyers * 

Down payment: 20% standard - 3.5% minimum (with a credit score of about 580 or higher). Flexible guidelines. Low interest rates.

 

3.  VA (Veteran's Affairs) Loan: This loan is only available to veteran's. Designed to provide housing and assistance to veteran's for the chance to purchase a home without a down payment. As a veteran you must meet service requirements and credit/income requirements in order to be eligible. 

* Best For: Veterans only *

Down payment: No down payment.

 

Arm (Adjustable Rate Mortgage) Loan: A home loan with an interest rate that can change periodically. This type of loan fluctuates with the market but the initial rate starts out lower than a fixed-rate mortgage.

*Best For: Any interested buyers *

Down payment: 20% Standard – 10% minimum

 

USDA (United States Department of Agriculture) Loan: This mortgage choice was created to promote the purchase of rural land. Mainly for those who live in rural areas and for low-income borrowers.

*Best For: Investors *

Down payment: No down payment.

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For any further information or questions, please feel free to email me! Located under the "contact" tab!

The First 5 Steps for Home Buyers: Where do I start?

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Is or will probably be the first question you have upon searching for your first home. Before getting into real estate, I was unaware of all the steps involved with purchasing a home. This is a very common question people ask.

Agents like myself, are here to guide you towards the first step of buying a home and being by your side throughout the entire process. 

Let's start:

1. Credit Check:

The first step you'll want to take before actually searching for homes is to check your credit. What this does is ensures that there are no inaccuracies in your credit report. By the time you are ready to apply for your loan, this process will get you ready to secure a loan when buying your new home.  Take care of any discrepancies before getting qualified. A mortgage lender will review your credit. Depending on the type of mortgage loan, they will require a minimum score of 620-640. Having a good credit score will affect your eligibility and your mortgage interest rate. The higher the better!

 

 

 

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2. Get Pre-Approved:

Buyer's who are already pre-approved have a starting advantage when looking for a new home. Make sure to get your pre-approval soon! Contact a lender of your choice or you can visit www.cristalcellar.com and have them review your financial data to see how much you qualify for.

3. Pick your Agent:

Find the perfect agent that best fits you. Your trusted agent will help you through the home buying process from searching for your perfect home to negotiating the best terms and price, and everything else that occurs during escrow. Choosing the right agent will make or break you in the overall success of your home buying process.  Pick one you trust and feel most at ease with.

4. Affordability - Real Estate Market:

There are online mortgage calculators that you can use to help you get a ballpark estimate for the amount of the mortgage payment you would be paying according to the purchase price of the home. Remember, this is an estimate not the actual mortgage payment.

Don't forget to do your research when looking for your new home. Including property taxes and the area of the neighborhood you're looking into. Some neighborhoods & new developments include HOA fee's & mello roos. Your real estate agent can provide you with this information as well.

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5. House Hunting:

This is the time where you and your agent discuss just exactly what you and your family (or possibly just you) are looking for. Review over your needs and wants for your ideal home. This process will help your agent eliminate all the other homes that you would most likely not be interested in. Your agent will go over some properties with you, send them via email (etc.) and meet in person to discuss over these properties so you and your agent could tour these homes in person. This is where the adventure begins. 

If you have anymore questions or would like to schedule an appointment to find out more, feel free to contact me.

I hope you enjoyed this read. Come back and visit the blog again soon!