Should You Refinance Your Home Even If You Plan To Sell?

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Should you refinance your home even if you plan to sell? – Are you considering refinancing your home, but want to sell your home in the near future?  Is your home still worth refinancing?  Refinancing could still make sense long term.  Here are a couple of tips that will help aid your decision of refinancing your home.

 

Take advantage of lower interest rates

 

Investigating the process of refinancing is worth your time if it could save you money on your mortgage rates.  Who would not want to save some additional money?  The money saved could be put towards a down payment on your next home or a new car that you have been eyeing.  Having a lower interest rate could lower the monthly mortgage payment, which could save you more money in the long run.  

 

Financial circumstances could change

 

You are planning on selling your home in the upcoming months but suddenly, your partner (or you) loses their income, or someone in your family becomes ill, or your money for a new house is needed elsewhere in the family budget.  Refinancing could save your money in the meantime until you are truly ready for that new house.  You never know what could happen financially and taking advantage of refinancing to a lower interest rate could potentially be beneficial to the household income.

 

Facing a higher rate on your ARM loan

 

ARM interest rates are adjusted every once in awhile and when the adjustment time comes, potentially the interest rate increases.  Often, it is in the best interest of the owner to refinance when they see the interest rate at a percentage they can pay before their adjustment period occurs and the interest rate ends up being much higher compared to what they are currently paying.  It is never a bad idea to speak with a professional about ARM loans and interest rate forecasts, etc.
When the time comes to figure out whether or not to refinance your home, it is always best to talk to a professional that can help you through everything.  They know everything involving loans and the different kinds that will be the most beneficial to you.  Professionals can help navigate through the loan vocabulary and help you better understand the process and if the timing is right for you to refinance your home loan.

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Avoid These 5 Home Staging Mistakes

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Home staging is a necessary component of prepping one’s house for the real estate market. However when staging, it is crucial to elude silly mistakes so that potential buyers don’t pass up your house. Avoid these 5 home staging mistakes when readying your house for the market.

Cluttered cupboards: During an open house, visitors are not just looking at the floor plan and open spaces, they’re likely to peak inside your cupboards and closets as well. If these spaces are messy or cluttered, it can give buyer the impression that storage space is at a minimum, rather than a realistic representation.

Loud paint colors: Just because you love the bright red palette you chose to decorate your living room, does not mean others will. By painting the rooms in your home neutral colors, buyers can see the potential of a space for their own future décor.

Overly ornate or beat-up furniture: Using ostentatious furniture or even worn and dated furniture can disrupt the clean lines you want to create in your staging. When choosing furniture for display, less is more and simple is better.

Thematic staging: While staging themed rooms like nurseries or office spaces can be appealing to some buyers, there can be times with the themes just don’t work in a space and can throw of the overall flow of the home.

Dusty or messy rooms: If your home is layered with dust, your tub is grimy, and your spaces are cluttered, buyers won’t be able to see beyond the mess. Though it can time-consuming, do your best to ensure your house is spic and span for every viewing.

Good home staging can dramatically improve the look of your home so that it sells quickly and for the best price. When staging, it is best to consult your realtor or a home staging expert to maximize the home’s true selling potential.

Tips for Spring Buying

 

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Tips for Spring Buying – Spring means the return of more than just the sun and the flowers-it’s also the high season for the real estate market. It’s a great season to buy a home, since the weather is good for moving and for home improvement projects. However, since spring is the busiest time to purchase a new home that means that there is a great deal of competition among prospective home buyers. It’s important to be prepared for purchase before you begin your search for a new home. Below are a few tips to get ready for the buying process. Happy buying!

  • Set your budget. Your first step should be to decide how much you can afford to spend on a new home. Besides your asking price, also take closing costs, montly mortgage payments, a down payment, moving and other expenses into consideration. The Mortgage Bankers Association recommends that buyers spend no more than 2.5 times their income on a home. Total housing payments should not exceed 28 percent of your gross income, and total debt payments should be less than 36 percent.
  • Make a list of must-haves. What does your new home absolutely need to have? What features are negotiable and what are not? Research these now to save time when you’re searching.
  • Find a good real estate agent. A real estate agent can often give you valuable information that may not be available to you otherwise and help you find a home with all of your requirements within your budget. Ask friends and family for recommendations, or check online.
  • Get your mortgage pre-approved. Discuss your options for a mortgage with several lenders and choose the rate and terms that are right for you. This way you’ll be able to act quickly once you find a home that you love.

Keep these tips and mind and when spring hits you’ll be ready to find your new home!

6 Tips To Help You Get Ready For The Fast Paced Real Estate Market

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6 Tips To Help You Get Ready For The Fast Paced Real Estate Market

Buying a home in a fast paced market can be a bit daunting. Check out these 10 tips to help make the search easier for you!

  1. Know your Location

Research the area(s) you’re looking to purchase your new home in. Educate yourself on the market trends in that area and common occurrences you should prepare for.

  1. Offer Reality

Offer what you are actually willing to purchase the home for. Skimping can make a seller quickly look over your interest although that may have been your forever home had you made a realistic offer!

  1. Your Price Range

Going off of number 4 and 6, know what you will be getting from the offer you are willing to make. Walk through houses that are currently in the price range that you can afford.

  1. Compromise Possibilities

Know what are you are willing to forego now so that you can get what you want in the long run. If the kitchen needs remodeling and two rooms need new carpet, are you still willing to buy because that living room is the perfect size for entertaining?

  1. Understand the Paperwork

Working with an awesome agent can make this very easy. Let your agent know ahead of time that you would like the paperwork to be explained to you up front and in layman’s terms if you are not familiar with real estate lingo. The process will be a breeze if you understand what you are getting yourself into.

  1. Keep a Positive Head

Be prepared to find your dream home, but also prepare yourself for things to not go as perfect as you would like them to. A setback is only a setback if you let it be that. Keeping a positive mind about your search can ultimately make the difference between a pleasant or hectic buying experience.

Are these tips helpful? Have you seen any of them play out in your search yet? Let us know in the comments below!

How To: Selling Your Home In Ohio

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How To: Selling Your Home In Ohio – Are you beginning the process of selling your home? Whether you’re selling or you’re simply looking to understand the buying process better, it’s important to be informed and knowledgeable about what all goes into selling a home. That’s why we created this detailed guide to help you with each step of the selling process.

Read on for our best tips, advice and information, and feel free to contact us if you have any questions.

Prepare to Sell.

The home selling process typically starts months before you put your house on the market. It’s important to think like a prospective buyer and take an objective look at your home’s aesthetic to determine what needs cleaned, painted, replaced or tossed out. Determine the best parts of your home and make sure to highlight them while you’re revamping it for sale.

While your home might be ready to sell, that doesn’t mean people are ready to buy. Home prices tend to rise and fall with supply and demand, so when the market is more active, you have the opportunity to get a much better deal. Typically the summer months are the busiest months, but your realtor can advise you on when it’s best to list your home.

Find Your Realtor.

Not only can your realtor advise you on when to list or how to highlight your home’s best attributes, they can also help you set an appropriate asking price based on your neighborhood and your home’s individual worth. You should choose a realtor based on your needs as a seller, your location and the type of home you have.

As your realtor, our team is qualified to advise you on any aspect of the selling process and ensure it goes as smoothly as possible.

Negotiate an Offer.

Negotiating a home sale is tough business, and it’s important to develop a strong position for bargaining to get the most out of the transaction. This is where your realtor will come in handy, as they can leverage their expertise in the real estate market to get you a great offer on your home.

After you have a signed contract with your buyer, your real estate agent will suggest an escrow or title company to handle closing the deal on your new home, and they’ll handle the paperwork, money and transactions. The escrow period is typically four to six weeks after you and the buyer sign the contracts. On closing day, make sure you have all of your paperwork related to your purchase, your loan and the contracts, and allow plenty of time to look through each document you sign.

Now get packing and prepare for sale!

Do you have questions about selling your home? Please contact us and see how our team can help you.

Staging Your Home To Sell: Secrets From The Experts

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Are you getting ready to sell your home? Staging your home can make all the difference when trying to sell, helping you to highlight your home’s strengths, downplay its weaknesses and appeal to the greatest possible pool of prospective buyers with these home-staging tips:

  • Get Rid of Clutter. The most important thing you can do to prepare your home for sale is to get rid of clutter. Make a house rule that for every new item that comes in, an old one has to leave. One of the major contributors to a cluttered look is having too much furniture. When professional stagers descend on a home being prepped for market, they often whisk away as much as half the owner’s furnishings, and the house looks much bigger for it. You don’t have to whittle that drastically, but take a hard look at what you have and ask yourself what you can live without.
  • Group Furniture. There’s a common belief that rooms will feel larger and be easier to use if all the furniture is pushed against the walls, but that isn’t the case. Instead, furnish your space by floating furniture away from walls. Reposition sofas and chairs into cozy conversational groups, and place pieces so that the traffic flow in a room is obvious. Not only will this make the space more user-friendly, but it will open up the room and make it seem larger.
  • Transform a Room. If you have a room that serves only to gather junk, repurpose it into something that will add to the value of your home. The simple addition of a comfortable armchair, a small table and a lamp in a stairwell nook will transform it into a cozy reading spot. Or drape fabric on the walls of your basement, lay inexpensive rubber padding or a carpet remnant on the floor and toss in a few cushy pillows. Voila – a new meditation room or yoga studio.
  • Increase Home Lighting. One of the things that make staged homes look so warm and welcoming is great lighting. As it turns out, many of our homes are improperly lighted. To remedy the problem, increase the wattage in your lamps and fixtures. Aim for a total of 100 watts for each 50 square feet. Don’t depend on just one or two fixtures per room, either. Make sure you have three types of lighting: ambient (general or overhead), task (pendant, under-cabinet or reading) and accent (table and wall).
  • Use Paint To Make Rooms Appear Bigger. To make a room appear to be bigger than it is, paint it the same color as the adjacent room. If you have a small kitchen and dining room, a seamless look will make both rooms feel like one big space. And make a sun porch look bigger and more inviting by painting it green to reflect the color of nature. Another design trick: If you want to create the illusion of more space, paint the walls the same color as your drapery. It will give you a seamless and sophisticated look.
  • Go For Neutrals. Painting a living room a fresh neutral color helps tone down any dated finishes in the space. Even if you were weaned on off-white walls, take a chance and test a quart of paint in a warm, neutral hue. These days, the definition of neutral extends way beyond beige, from warm tans and honeys to soft blue-greens. As for bold wall colors, they have a way of reducing offers, so go with neutrals in large spaces.
  • Vary Wall Hangings. If your home is like most, the art is hung in a high line encircling each room. Big mistake. Placing your pictures, paintings and prints in such stereotypical spots can render them almost invisible. Art displayed creatively makes it stand out and shows off your space. So break up that line and vary the patterning and grouping.
  • Three’s Company. Mixing the right accessories can make a room more inviting. When it comes to eye-pleasing accessorizing, odd numbers are preferable, especially three. Rather than lining up a trio of accessories in a row, imagine a triangle and place one object at each point. Scale is important, too, so in your group of three be sure to vary height and width, with the largest item at the back and the smallest in front. For maximum effect, group accessories by color, shape, texture or some other unifying element, stagers suggest.
  • Re-face Your Kitchen. If you can’t afford new cabinets, just get new doors and drawer fronts. Then paint everything to match and add new hardware. And instead of replacing the entire dishwasher, you may be able to get a new front panel. Check with the manufacturer to see if replacements are available for your model. If not, laminate paper, which goes on like contact paper, can be used to re-cover the existing panel.
  • Create A Relaxing Bedroom. Create a relaxing bedroom setting with luxurious linens and soft colors that will make a potential home buyer want to hang out. Bedroom staging trick: If you don’t have the money to buy a new bed, just get the frame, buy an inexpensive air mattress and dress it up with neutral-patterned bedding. And remember to declutter. By cleaning out your closets, you’re showing off your storage space, which sells houses – it always ranks high on buyers’ priority list.
  • Make A Spa-Like Bathroom. Having tile professionally painted can make a bathroom look brand new. And accessorizing can make buyers feel like they’re in a spa. Put out items like rolled-up towels, decorative baskets and candles. It’s a great way to create a polished look, and it doesn’t cost much to do.

To learn more about staging your home and for even more tips, visit the HGTV website.