Real Estate Tips

Quick tidbits of advice and ideas about real estate.

Found 185 blog entries about Real Estate Tips.

After acquiring a mortgage offer from your financial institution, spending an extended period of time searching for a house, working through piles of paperwork, and finally putting in an offer, you’re about to close on your first home! Congratulations. This is a huge milestone. You (and your real estate agent) have worked hard to get here.

You have only one remaining hurdle to clear: the closing process. While this step does not require strategy or out-of-the-box thinking, it can feel tedious, if not complex, for first-time buyers. Fear not, though—your real estate agent will guide you through precisely what you need to close on a house.

Speak with your agent about when you should plan to move. It is common for closing to take one to two months

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Purchasing your second home will bring different challenges than your decision to buy your first, and they are each worthy of careful consideration. Today, we are sharing our view on a question we are frequently asked: “What should we plan to do with our first home if we are buying a second? Should we rent it out? Sell it? Hand it over to a property management company?”

Before you can settle on the answer that is best for your unique situation, you will have to weigh your current financial situation, your capacity to take on added mental and emotional strain, and how holding on to two properties will affect your long-term goals. While selling one home and buying another can be a lot to juggle at once, deciding to rent out your first home is

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If you're exploring the world of mortgages, you might have come across the term "co-signing" at some point. But what does it really mean, and how does it work? As your local mortgage pro, let Steadfast Mortgage guide you through the ins and outs of co-signing on a mortgage.

So, what exactly is a co-signer? Essentially, a co-signer is someone who is willing to vouch for your mortgage application by using their financial credentials. They step in to help you qualify for the loan or secure a better interest rate. However, by co-signing, they're also agreeing to shoulder the responsibility of repaying the loan if, for any reason, you're unable to meet your obligations.

What's the difference between a co-signer and a co-borrower?

While both

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When you are selling your home, you want to take full advantage of the market. No matter your home’s location, size, or age, it will bring in significantly more if you are able to optimize its condition before you list it for sale. However, if you are preparing to sell your home and you have realized that it needs extra TLC before it is market ready, today’s guide is for you.

The worst-case scenario for your property is it languishing on the market for months after you list it, only drawing in a smattering of lowball offers. To avoid this disheartening dynamic, rectify the following before listing:

Clutter

You are no doubt used to your belongings being comfortably strewn throughout your home. Sellers, though, will expect your home’s

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When you are preparing to purchase, refinance, or sell a home, you will first need to acquire a home appraisal. The only exception to this rule is in the rare event that you are selling your home to a buyer who is paying the full amount in cash.

If your home appraisal is lower than you believe is fair, you have the option and the right to challenge it. Today, we are covering precisely how to challenge a home appraisal efficiently, effectively, and with the full power of all applicable laws.

To print the USA government’s guide to challenging your home appraisal, please click here.

Reconsideration of Value

If you have reason to believe that your home is worth more than the amount at which it has been assessed, you are eligible to ask that

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Once you've submitted your mortgage application, it's crucial to tread carefully in the financial landscape to ensure a smooth approval process. Here are 10 things you should avoid after applying for a mortgage:

1.) Steer Clear of Significant Purchases

Resist the temptation to make large purchases, whether it's a new car or extravagant furniture, in the period following your mortgage application. Lenders analyze your debt-to-income ratio, and substantial new debts can raise concerns about your financial stability.

2.) Maintain Job Stability

Lenders appreciate stability, and changing jobs during the mortgage application process might send red flags. Try to stay in your current job until the mortgage is approved, as it reflects

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Owning a home is a significant milestone, but the path to homeownership often comes with its fair share of hurdles. One of the most substantial financial challenges is navigating the closing costs associated with buying a home.

While these costs are inevitable, there are savvy strategies to minimize the financial impact and make your dream home more affordable.

Let's explore some ways to potentially reduce closing costs and make the home-buying process a smoother journey.

Shop Around for Third-Party Services:

Lenders often have preferred sources for closing services, but you have the flexibility to explore alternatives. Check section C of page 2 of your good faith loan estimate for listed services and consider opting for companies not on

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Millennials will be 28 - 43 years old in 2024, and despite the significant economic changes their generation has faced, more than half of them are now homeowners. Still more Millennials are projected to follow this pattern of success this year, so it’s little wonder that sellers who are Gen Xers or Boomers want to market properties to this younger generation. 

If you have placed your home on the market with the intention of targeting buyers aged 28 - 43 only to encounter crickets instead of an avalanche of offers, you have to be wondering why Millennial buyers aren’t interested in your home. Most importantly, what can you change to draw in this key demographic?

Decide on One Slice of Millennial Buyers 

You aren’t going to be able to draw in

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Are you a homeowner who plans to purchase your second home in 2024? If so, you will be applying for a mortgage under different circumstances than those under which you bought your first home. Securing a loan for a second home is more complicated, more difficult, and even includes two separate sets of rules - one for vacation homes and another for investment properties. 

Let’s examine these two types of homes, the rules that govern them, and the pros and cons of each approach when it comes to your finances. 

What Qualifies as a Vacation Home?

Your primary residence is where you’ll spend most of your time, of course, but you are permitted to have one or more vacation homes as well, or even a residence that you use as your office. Either way,

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Eyeing that perfect house but feeling a bit flustered by the talk of high mortgage rates? Don't let those numbers scare you off just yet! Here are some nifty tricks to navigate these high rates. Think of them as your secret weapons to bag that dream home, even when rates are playing hardball.

Let's dive into seven smart moves that could make those seemingly daunting rates work in your favor!

1.) Seller Sweeteners: Ever heard of seller concessions? Picture this: sellers covering a chunk of your closing costs, throwing in a shiny home warranty, or even leaving behind some dreamy appliances. When rates climb, sellers are often more game to negotiate these goodies.

2.) Closing Cost Cushion: Feeling the pinch of those upfront costs? Some

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