Home Buying

132 Things REALTORS Do For Buyers!

132 Things REALTORS Do For Buyers

1. Give you access to my MLS listing database of homes & condos for sale
2. Provide information on neighborhoods, neighborhood amenities, schools, points of interest
3. Provide demographic information on Towns and neighborhoods
4. Give an overview of the current real estate market conditions
5. Explain past real estate market performance and projections
6. Explain my credentials, accomplishments as a Realtor
7. Provide you with references from past clients
8. Explain city real estate development plans
9. Discuss renting vs. buying
10. Discuss pros and cons of property types: condo, single family, multi-family, investment
11. Show how neighborhood values can change quickly from block-to-block
12. Explain your legal options of working with a Realtor
13. Explain that the Seller's Agent...

5 Questions to Ask Your Home Inspector

5 Questions to Ask Your Home Inspector

     

                  1. What is the condition of the roof?

Before purchasing a home, it is smart to ask the inspector about the condition and age of the roof. The seller of the home may know the roof’s age, but it is still important to understand the life expectancy of the roof. The life span of a roof can range from 15-30 years, depending on the type of shingle used. Often the life useful life of a roof is shorter than the expected number of years. This is due to weather, accidents, etc. harming the shingles. The inspector will be able to estimate the actual remaining life expectancy....

Everything you want to know about a real estate appraisal!

A real estate appraisal is the process through which an appraiser determines the current fair market value of the subject property. The Uniform Standards of Professional Appraisal Practice (USPAP) sets forth the procedures and ethical standards to be followed by appraisers. “The appraiser investigates the characteristics of the subject property that might impact the property’s value. The appraiser also investigates the nature of the market for that property, competitive properties, and the buyers and sellers who constitute the market for that property type. The principles of supply and demand, substitution, balance and externalities help explain shifts in value.” (appraisalinstitute.org)

I am buying a home. When do I order an appraisal? Once most or all of the contract contingencies (like the inspection period) are dropped, the lender will order an appraisal of the property. This will be at the cost of the buyer and is around the $250-450...

Working with a Buyer's Agent

   Why would I work with a buyer's agent?

     Buying a home is likely the biggest purchase you will make in your lifetime (except for the people lining up for a spot aboard Space X), so you should treat it that way. You need someone who experiences the industry daily to represent your interests in such a large transaction. Regardless of how many times you have bought and sold a home, the real estate market is changing every day. Time and time again there will be hiccups. When these hiccups arise, you will want someone in your corner and only your corner. Time, money & stress can all be saved by using a Realtor when you buy a home!

     Often, we have buyers call in asking to schedule a showing with the listing agent of a home. It is typically not in your best...

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

HOW LONG DOES IT TAKE TO GET A MORTGAGE?

As you begin shopping for a new home, one question will weigh heavily on your mind: “How long will it take to get a mortgage?” For an extremely tiny minority of home buyers, it will take a few days to apply for a mortgage, get approved, and finalize the contract on a new home.

For the vast majority of home buyers getting a mortgage may take four to six weeks or even longer, if there are negative marks on your credit report or small debts you'd like to pay off before applying for a home loan. It can be very hard to be patient with the process.

Applying for a mortgage may seem mysterious (and even dangerous!), but the process is usually straightforward. Here's what generally happens, in the simplest terms possible.

First Step: Apply for a New Home Loan 

First, you'll talk to a mortgage loan officer who will...

Seven Steps for First Time Home Buyers

SEVEN STEPS FOR FIRST-TIME HOME BUYERS

 

Home buying is exciting and the joy one feels walking into their first home is incomparable. First time homebuyers need to follow certain steps to get on the pathway to homeownership. Following these steps will make your dream of becoming a homeowner in Louisville, Kentucky (or surrounding area) a smooth process.

 

1               Get Pre-Approved? The first step is to talk to a lender.  If you are serious about buying a house, get pre-approved instead of just pre-qualified, that will show buyers that you are serious.  Your lender should be able to tell you what you need to do, give you advice on your credit score, and explain all the details. If you do not understand, feel rushed...

In lieu of Black Friday and Cyber Monday, check out these great 'deals' on Louisville homes!

Many people love the holidays because of the great deals that they can find while shopping, especially on Black Friday and Cyber Monday. These deals usually pertain to hot ticket items such as TVs, appliances, movies, etc. Does real estate cross your mind when you think of deals during the holidays? Probably not...but that's because there are deals on homes for sale in Louisville KY nearly every day of the year!

Louisville homes experience price reductions all the time, which is a great opportunity for you to find the perfect home at a great value. Below are 10 of the most recently price reduced homes in the Louisville area...give my team a call at (502) 509-6812 when you would like to schedule a private showing!

    1. 9106 Terry Rd, Louisville, KY 40258 - $109,900

    ...

    Are You a First Time Home Buyer?

    Are You a First Time Home Buyer?

    As of 2013, according to the U.S. Census Bureau, 64.5% of Americans own their own home. However, only 29% of those people own their home "free and clear," meaning they no longer owe the bank, or anyone else, for a home mortgage. According to Real Estate ABC, average home costs range from $159,500 to $282,000, depending on the region you are looking to settle in. Wherever you go, it is clear that buying a home will be a huge financial decision that will affect decades of your life. If you are looking for first time home buying tips, here are three of the best.

    • Do Not Bite Off More Than You Can Chew

    One of the contributing factors to the economic collapse beginning in 2007, now known as the Great Recession, was unfair and predatory lending practices on the part of banks to homeowners, according to NBC...

    The Time Is Nigh. Have You Considered Buying a House Yet?

    Your First HouseThe time has never been better for buying a home first time. Rates are at historical lows. And prices still remain 30% below peak from before the crash. With how cheap things are, and all of the first time home buyer assistance programs available, first home buying steps can be short and sweet. To make things easier, all one need do is follow a few first home buying tips.

    Of course, before you should even be looking for first time home buying tips, you should be saving money for a deposit. The deposit is often one of the most important things to have, because it is necessary for the buying process. The more that you put down, the less you need to borrow, which means the less you pay interest on.

    Before you begin looking at homes, and getting your hopes up, visit a few banks. Talk to them about how much you can get, how much they charge in interest. Know...

    Always Check the Permit History of Your New Kentucky Home

    When purchasing a new home, you want to always protect yourself from unwanted surprises. Yes we think we do everything possible like a home inspection, title searches, etc., but few of us ever think about going into the building department and asking about old permits that may have been taken out on the property that we are looking at to buy. You always want to find out as much as you can about the property before the closing.

    I always suggest that the offer should include an inspection contingency even if you're making an offer in any kind of competition. The contingency wording should be broad enough for you to inspect whatever you deem necessary, so you will have the confidence that the home will satisfy your housing needs within a budget you can afford. You should always have the option to withdraw from the contract and have your...