In spring, many real estate markets across the country heat up. That means February can be a busy month for home buyers and sellers as they begin to prepare for their local real estate market.
If your preparation involves research, and hopefully it does, we’ve got some great content for you here.
Let’s dive into the real estate roundup for February 2023!
Great advice for home sellers
When sellers turn their attention to preparing their homes for the market, they first want to consult their local real estate professional about the condition of their home. It has been proven that houses that are well priced and in the best condition sell faster and for more money.
We all expect more from our homes these days. In order to appeal to the widest range of homebuyers, it is wise to know what today’s homebuyers are looking for. Learn about ten ways to add thoughtful updates to your home to increase its appeal to today’s homebuyers.
Mortgage programs for first-time homebuyers explained
Are you planning to buy your first home soon? One of the most important steps in this process will be obtaining your mortgage.
Luckily for many potential buyers, some excellent programs are tailored specifically for beginners.
In one of the more comprehensive articles on the subject, Bill Gassett shares information worth researching about first-time homebuyer programs. Bill provides an in-depth analysis of each type of loan, explaining their pros and cons.
Questions for mortgage lenders
Once you’re ready to buy a home, there are a few questions to ask your lender. As with choosing a lending program, choosing a lender is critical before beginning your home search.
Even though you’re the one asking for the money, you’re the customer and you care about your business… so remember, you’re in the driver’s seat. You can confidently look out for your best interests by asking the right questions.
Feel free to ask any questions that will inform you about the loan process, the paperwork required, and the programs available to you.
They want to know what fees to expect, as well as interest rates and monthly payments. Take this list of 23 essential questions with you when interviewing a lender, and you’ll have all the details you need to make the best decisions.
Speaking of asking questions, the question of what type of loan product you want to use is important.
If traditional credit isn’t right for you, one of the government-insured programs may be a better fit for your situation.
Understanding the differences in popular programs
Luke Skar explains the differences between FHA, VA, and USDA loans. Because the federal government insures loans made through these programs, lenders can offer borrowers money they would not normally accept.
To choose between these loan types, see which ones you qualify for by reading through the details.
Make your home inviting
After you’ve put some effort into preparing your house for its debut and valuing it well for the market, the stage is set for demonstrations. Kevin Vitali points out that every exhibition is an opportunity to sell your home. You don’t want to make a misstep by turning away a potential buyer or, worse, turning away a buyer.
Kevin’s thorough article covers 18 tips to ensure your home looks its best and invites potential buyers to envision living there.
Some simple tips are sometimes overlooked, such as: B. Being ready at all times to ensure the room temperature is comfortable. I was showing a house recently and it was so cold inside. The buyers were desperate to get out that they didn’t take up the whole house.
While it may be impractical to show your home, the goal is to sell it. So be sure to take care of the big and small things that will make your home feel more inviting and inviting.
Do you want to build your dream house? Find out about land loans first
If you are planning to build your dream home, you should understand the types of loans you need to buy land as they are different from the ones you need to buy a ready-to-move-in home.
You can buy raw land, vacant land and developed land, all of which have nuances in the credit product.
A land loan is an excellent option if you’ve found the land but aren’t ready to build. Check out the details of a home purchase loan in Paul Sian’s article. Get answers to your questions before you take out a home loan.
Sale to a real estate investor
Sometimes a home seller needs to sell quickly or doesn’t have the resources to make the necessary home repairs. Going through the normal process may not work for everyone.
Over at the Rochester Real Estate Blog, Bill Gassett covers 13 companies that buy a home for cash.
With a cash sale, home sellers avoid some of the work and hassle associated with selling their homes on the open market. They can also expect to get less for their home if they sell it to an investor.
In fact, do your homework before you decide.
Great advice for home buyers
With the rumors of recession and inflation, the question of future interest rates and a shortage of inventory in many communities, one might be wondering is now an excellent time to buy a home?
That’s always a good question, by the way. Bob Gordon points out in his article that for most of us, buying a home is the most significant investment we will ever make. That’s why we want to ask the right questions and make the smartest decisions.
If you ask questions about timing, he explains a few key points so you can get the right answers: What funding is available to you? Are the deposit and monthly payments working for you?
He points out that you’re buying a home, not an interest rate, which means interest rates go up and down. They can refinance when they fall, and they always do, because economies are cyclical.
The final of the house purchase – the last tour
Buying a home is exciting…every time! Even as a broker, I still look forward to the day the keys are handed over.
In the excitement, however, don’t miss the final walk-through! Conor MacEvilly points out that this final process is crucial to ensuring the condition of the home is what you agreed on in the contract.
When should you plan the visit? In most states, you have up to five days prior to billing for a viewing.
Conor points out several issues that can arise and has great advice on why you shouldn’t wait until the last minute.
Who’s ready for the spring market?
Me! The Superbowl is over (my team won! lol) and what’s next? Of course the spring market. Vicki Moore points out that although spring seems far away, savvy home buyers and sellers know the big game is kicking off the spring homebuying season. It’s an excellent time for both buyers and sellers to prepare.
It’s time for sellers to make the necessary repairs and clean up to prepare your home. Make sure you consult a local agent to make the right repairs as you don’t want to waste money on something that won’t pay.
Now is the time for buyers to obtain credit pre-approval and get their paperwork in order. You want to start your home buying journey with a reputable local agent and lender.
Whether you’re buying or selling, check out Vicki’s great advice and reach out to your local quarterback to ensure success!
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Check out some of the great advice from previous property reviews.
About the Authors: The content above featuring the best real estate articles for February 2023 was written by Karen and Chris Highland. Chris and Karen are at eXp Realty in Central Maryland and have been helping people buy and sell homes in and around Frederick, Maryland for over 30 years.
“We are passionate about educating consumers about the ins and outs of residential real estate and the local market, and providing them with realistic expectations when it comes to buying and selling a home.”
