Tag: “homebuying advice”

Understanding mortgage interest rates

Locking down a good mortgage rate is just one important aspect of home affordability. If you’ve been thinking about buying a home, you may be wondering what affects mortgage interest rates & what climbing rates mean for you. Mortgage rates have been on the rise, and they will likely continue to do so. As of June 2018, the average mortgage interest rate for a 30-year fixed-rate loan is 4.76%, but it won’t stay that way forever. We’

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3 things to know if you want to keep your earnest money deposit safe

Once your offer finally gets accepted, one of the first things you’ll do is submit an escrow deposit. This money -- your “good faith” deposit -- helps show the seller that you’re serious about buying the home. If the home closes successfully, that money is applied to your downpayment. However, if the deal falls through, there is a chance that you could lose out on thousands of dollars. With that in mind, many buyers want to know what

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4 things you need to know about preliminary title reports

If you’re planning on buying a home, it’s probably best that you put your book of the month subscription on pause, 'cause with most major life (and financial decisions), the process of purchasing a home involves a lot of reading. From sellers’ disclosure documents to rent rolls to floor plans to stacks on stacks on stacks of property reports, buyers must sometimes wade through quite a bit of dense documentation before they actually buy a home. Disclosure packages

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Here's 3 tips to avoid rejection when you make your offer on a house

We all know rejection sucks. House hunting is a very emotional process. Finding a home you really love only to have your offer rejected can be confusing and frustrating. The experience can feel personal and leave buyers apprehensive to make another offer. But, the fact of the matter is that offer rejection is a very common part of the process, especially in seller's markets. Some might even call it a right of passage on a buyer’s journey to homeownership.

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If at first you don't succeed: when your offer on a house gets rejected

Unfortunately, not every offer on a home is a winner, especially in competitive markets. But, that’s not to say that you should just sit back and wait for fate to take its course. If you’ve had bad luck with submitting offers and want to make sure that the next one you submit sticks, we’ve laid out some of our best tips to help you get noticed by sellers. Here's how to stand out from the crowd &

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Closing on a home? Here's 3 big mistakes to avoid.

Everyone makes mistakes. But, in real estate, sometimes the wrong move can mean the difference between becoming a homeowner and losing out on the property that was meant for you. With that in mind, we’ve brought you three surprisingly common closing mistakes to avoid when you’re about to buy a home. These are the things that trip buyers up most often and can cause huge problems in a transaction. Here's what to consider when you're going into a

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Buying your first home? Here's 5 things to consider.

Buying a home for the first time is a bit like training for a marathon. A successful end result depends heavily on preparation. After combing through feedback from our buyers and drawing on knowledge from Open Listings buying agents who have helped buyers purchase almost $1 billion worth of homes, we’ve come up with some insights to help get you through the various different stages of your home-buying journey. Here are a few key things you should know to

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Here's the 1 major 🔑 new homebuyers learned from their first rejection

While there's lots of things we can’t tell you -- such as when you should leave home to avoid standing traffic on the freeway or how long that avocado will actually last in your fridge (because, you know, avocados gonna avocado) -- we can provide some insight into one crucial pitfall many new homeowners wish they’d avoided before they experienced their first offer rejection during their homebuying process. While this should come as no surprise, rejection doesn’t

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The art of the deal: how to figure out what to offer on a home

So, you've found a home you could really see yourself living in. That’s when the real fun begins: sitting down and making that offer. As we’ve discussed before, offers have many different components, but the biggest factor among them is the price. Before going any further, you’ll need to figure out what to offer on the home. So, we’ve rounded up a set of considerations to help you land on a price that feels comfortable to

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It's not you, it's me: breaking up with your real estate agent

So, things with your agent haven’t been going the way that you’d hoped when you first started searching for a home. How do you handle the situation? Even though no one wants this outcome, sometimes the only solution is breaking up with your real estate agent once and for all. That said, there is absolutely a right way and a wrong way to handle this delicate conversation. If you’re looking to make sure that you end up

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Buying A Foreclosed Home: 4 Things To Know

Buying a foreclosed home may seem like a great deal at first glance. After all, how could an incredibly low sale price not be a great thing, right? But, there’s more to foreclosed properties than meets the eye. They’re an entirely different breed than a traditional sale and they require a deft hand in order to be handled successfully. If you’re considering buying one of these properties, you won’t want to skip this post. We’ve

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Avoid being "house poor" by taking these 4 steps

We’ve all heard cautionary tales of new homeowners who have ended up “house poor.” Yes, their homes may be gorgeous and enviable, but that asset is all they have. But in reality, they’re struggling to afford their homes and live their lives comfortably. And, if there’s one thing you don’t want to do as a buyer, it’s to find yourself in a similar position. Here are the steps you can take during your home search

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Going on a home tour? Here's 5 things to overlook.

When you’re looking at homes, it can be hard to be objective. After all, since you're paying so much money, it’s only natural to want a home that's totally perfect for you. That said, sometimes, it pays to be blind-ish. In this crazy market with limited inventory, not every home issue should be a dealbreaker. Don't miss out on your perfect home by paying too much attention to these five things that don't really matter on your next

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Thinking about buying a new construction home? Here's 4 considerations.

New construction homes seem like a no-brainer if they're available and you can afford them, right? While you might think there wouldn't be as much to do or to consider when buying a brand new home compared to a previously-owned one, there's still things you need to look out for to make sure you're making the best investment. Here are the top four things to remember when buying a new construction: #1. You aren’t buying the model home Wherever

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Buying and selling a home at the same time: 4 questions to ask yourself

Even if you thought you were going to stay put in your home for a while, these days, "forever homes" don't really mean forever. In fact, the average American is expected to move over 11 times in their life. If you’re on the fence about whether or not to sell your home and upgrade in the near future, we’ve compiled a list of hard-hitting questions for you to have a little real talk with yourself and

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