Claire LeBlanc - REALTY EXECUTIVES



Posted by Claire LeBlanc on 8/5/2020

As a home seller, you likely want to set a "fair" initial asking price for your residence. Because if you fail to do so, you risk pricing your home outside of your target buyer's price range. Perhaps even worse, you risk pricing your house too low Ė something that may cause you to miss out on the opportunity to maximize your home sale earnings.

Ultimately, there are lots of things that you can do to ensure you establish a fair initial asking price for your residence, and these include:

1. Study the Local Housing Market

For home sellers, it is important to perform plenty of research before you list your residence. If you assess the local housing market closely, you can obtain insights that you can use to set a fair initial asking price for your home.

Evaluate the prices of available houses in your city or town that are similar to your own. This will help you determine the price range for comparable houses in your area.

Also, find out how long some of the recently sold houses in your city or town were available before buyers purchased them. This can help you differentiate a buyer's market from a seller's market so you can price your house appropriately.

2. Conduct a Home Appraisal

A home appraisal delivers immense value, as it enables you to receive a property valuation. Once you have a property valuation in hand, you may be better equipped than ever before to determine how to price your house.

In addition to a home appraisal, you may want to conduct a house inspection as well. During a house inspection, a property expert will review your home and identify any underlying issues. You then can use a house inspection report to prioritize home repairs and upgrade your residence before you add it to the local real estate market.

3. Work with a Real Estate Agent

As you search for ways to get the best price for your home, you may want to hire a real estate agent. In fact, if you have a real estate agent at your side, you can receive comprehensive support throughout the house selling journey.

A real estate agent will learn about your home and help you determine exactly how to price it. Next, he or she will promote your residence to buyers. And if a buyer submits an offer to purchase your residence, a real estate agent will help you decide whether to accept, reject or counter this proposal.

Furthermore, a real estate agent is a home selling expert who is happy to share his or her housing market insights with you. If you ever have concerns or questions as you navigate the house selling journey, a real estate agent can address them.

Setting the right price for your home sometimes can be difficult. Thanks to the aforementioned tips, you can establish a fair initial asking price for your residence. As a result, you may be able speed up the home selling journey and optimize your house sale earnings.





Posted by Claire LeBlanc on 7/29/2020

Photo by Analogicus via Pixabay

After settling into your home, you start to notice a few things either need to be retouched or completely overhauled. The biggest issue that a lot of homeowners run into is the money for the project. Even after assessing whether the project is a DIY or youíll need a professional, funding still comes before action. Here are a few funding options to consider before you begin your home improvement projects.

Borrow from Your Future: 401(K)

A vast number of traditionally employed homeowners have a 401(K). Often, an employer will deposit funds into this account just as the employee does, but did you know you can borrow from it? If your housing project requires a little more than what you have in your savings account, try taking a little from your 401(K). Remember, even though itís your account, itís not free money. You will have to put it back once youíre able, and if you separate from your current company, you may run into a few extra fees if the money isnít returned within five (5) years.

Government-Backed Improvement Loans

There are a few different types of government-backed loans that allow you to improve your home. You just need to identify the category your home improvement falls under. If youíre looking to do a few moderate improvements, try the 203K loan. These loans are great if youíve purchased a preexisting home and have a few hefty renovations to cover. You can even add this loan to your mortgage payments.

If your home improvement project happens to fall more along the ďgreenerĒ side of things, such as heating/cooling, water-efficient landscaping, energy reduction systems, etc., you may be able to apply for a PACE loan. These loans are pretty easy to get approval for, can often receive tax credits and may be sold to your next buyer when you decide to move.

Home Equity Line of Credit (HELOC)

Have you been in your home for a while? Maybe a HELOC would be the best method for you to finance your home improvement projects. Since your home has accrued equity over the years, youíll be able to secure the loan by using it as collateral. These loans are often suited for long renovations or projects that may require a few extra stages.

If your home improvement projects end up with a longer price tag than you were expecting, donít fret. There are several other ways that youíll be able to cover the cost, including tax credits and grants. If youíre prepping your home to sell in the near future, chat with your agent about the best renovations, improvements and repairs, as well as, how to fund them.






Tags: loans   home improvement   401K   Funding   Grants  
Categories: Uncategorized  


Posted by Claire LeBlanc on 7/22/2020

If you want to sell your house, you may want to take a close look at your home's interior. That way, you can identify any potential home interior issues and address them as quickly as possible.

Determining the best ways to transform your home's interior from drab to fab may seem difficult, particularly for a first-time home seller. Fortunately, there are several proven ways to enhance your residence's interior, and these include:

1. Cleaning

If it has been several weeks or months since you last cleaned your house, there is no time like the present to perform extensive home interior cleaning.

Wipe down countertops, mop the floors and clean every room of your house. By doing so, you can make your house look clean and pristine.

Also, if you need extra help cleaning your home, you may want to hire a cleaning company. With a team of home cleaning professionals at your side, you can speed up the process of improving your house's interior.

2. Decluttering

Clutter is an eyesore that home sellers should try to eliminate. Luckily, there are many quick, easy ways to remove clutter from your house.

Oftentimes, one person's clutter is another's treasure, and you may be able to sell excess items at a garage sale or online. Set competitive prices for your excess items, and you should have no trouble stirring up interest in these items.

You also can donate excess items to charities in your city or town. Reach out to local charities, and you may be able to get excess items picked up from your house.

3. Interior Upgrades

If you notice home interior lights are no longer working, cracks or dents in your walls or other minor home interior issues, you should spend some time performing various upgrades and repairs.

In most instances, minor home interior upgrades and repairs may require just a few minutes to complete. Meanwhile, these home interior improvements can make a world of difference in the eyes of homebuyers and can help your home stand out to potential buyers.

Clearly, there are many ways to improve a house's interior in no time at all. But if you require additional assistance, you can always hire a real estate agent to help you generate interest in your residence.

A real estate agent knows exactly what it takes to bolster a house's interior. He or she can help you assess your home's interior and prioritize assorted home interior improvements.

Furthermore, a real estate agent will make it easy to navigate all stages of the home selling process. This housing market professional will help you list your house and promote it to large groups of potential buyers. Plus, if you receive offers on your house, a real estate agent can help you evaluate these proposals and make an informed decision.

Don't hesitate to enhance your home's interior. Instead, consider the aforementioned options, and you can take the first step to improve your house's interior.





Posted by Claire LeBlanc on 7/15/2020

The more you know about the process of buying a house, the better prepared you'll be for doing it successfully.

How might you define "success" when it comes to purchasing a home?

There are a lot of standards that could be applied to successfully navigating the home buying process, but here are a few that immediately come to mind:

  • Finding the house of your dreams: While very few people find a home that is absolutely perfect in every way, it is possible to come close to achieving that ideal. Although a certain amount of flexibility goes a long way, knowing what you want and prioritizing important features are among the main prerequisites to getting what you want. As baseball legend Yogi Berra once said, "If you don't know where you are going, you'll end up someplace else." Thanks to the variety of websites devoted to home ownership, home decorating, remodeling, and landscaping, it's easy to find pictures online that can help inspire your imagination and clarify exactly what the house of your dreams might look like.
  • Minimizing setbacks and frustrations: The process of house hunting is a journey that often involves bumpy roads, detours, and dead ends. One secret to getting through it successfully is to work with an experienced real estate agent who knows the ropes and can keep you on track. It also helps to approach house hunting with a sense of optimism, resourcefulness, and commitment. Although you probably have a lot of competing priorities in your life, finding a house that you and your family will be happy in for the next few years deserves a top spot on your list!
  • Avoiding unpleasant surprises: Knowing your credit score and understanding the impact it will have on getting loan approval and a favorable interest rate will help prepare you for the financial side of buying a house. The ability to get prequalified for a mortgage and come up with sufficient down payment will also set the stage for a successful home buying experience. On the plus side, a higher down payment can potentially result in a lower interest rate and not having to pay private mortgage insurance (A 20% down payment is necessary to avoid PMI.) Since many loan programs and lenders require at least a 3-5% down payment, that can be a stumbling block for first-time home buyers. To purchase a $200,000 home, for example, you'd need to come up with a cash outlay of between $6,000 to $10,000 -- not an easy feat for everyone!
If coming up with a sufficient down payment is an issue for you, your real estate agent or loan officer can work with you to brainstorm possible solutions and alternative strategies. For some first-time home buyers, the best plan is to postpone your house buying plans for a couple years until you can improve your credit score and set aside several thousand dollars for a down payment.





Posted by Claire LeBlanc on 7/8/2020

Image by David Pereiras from Shutterstock

Your FICO score is a key factor used to determine if you qualify for a mortgage. The Fair Isaac Corporation (FICO) is the creator of the most common credit score used by home loan providers. The algorithm used to create your score is a closely-guarded industry secret. But in general, it factors in your payment history, debt burden, length of credit history, and recent applications for credit. Your FICO score is powerful but there are things it cannot account for.

It does not indicate how much you can afford.

It does not reveal how much you have saved up for a down payment.

It does not understand your ability to budget.

It does not display your current bank account balances.

What does it do?

Your FICO score tells you (and your potential lender) how you have handled credit over the length of your credit history. Scores range from 300 (poor) to 850 (excellent). The primary factors that can hurt your credit score are late-payments and the debt-to-credit ratio.

Late Payments

Make your payments on-time every month especially if you are hoping to secure a mortgage. The more on-time payments you have the better your score will be. In some cases, on-time payments can dilute the impact of late-payments in your credit history. Newer incidences can be more detrimental to your score than older late-payments. Payments that are received 60, 90, or 120 days late count more against you than those that are late by over 30 days.

Credit Utilization

The total amount you owe is a consideration but the relationship between how much you owe and the credit available to you weighs more heavily when it comes to determining your FICO score. Another term for this is your credit utilization. Your debt-to-credit ratio is a measure of how much of your available credit you are using within a 30-day window. The higher the ratio of debt compared to available credit, the more likely you are to have a lower FICO score.

For instance, letís say you and your partner both owe $1000 on credit cards. Your available credit is $1500, making your credit utilization two-thirds or 66 percent of your available credit. Your partnerís available credit is $4000, making their credit utilization 25 percent of their available credit. If all other factors are equal, your partnerís FICO score will appear higher. 

Ask your real estate professional for recommended financial resources in your area.







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