Given the circumstances of low-interest rates, if you’re planning to buy a home, choosing a mortgage lender that can help you to reach this goal will be essential. See below for some things to keep in mind during this search:
Make sure to know the state of your finances.
This will help you to see how much house you could afford and it can give you a guide of what you would like to purchase.
Likewise it is important to be aware of the types of lenders that you can choose from. Being able to make an educated decision will help you pick the best option.
Also, learn about what are the types of mortgage loans available so you can have an idea of what can be of benefit to you in this process.
Respectable mortgage lenders often provide various loan options to account for differing credit scores.
Review several mortgage lenders to see their reputation and customer experience. It is really important to have a lender that has a knowledgeable team that will provide you support and answers all your questions. Look into their application process, is it streamlined and easy to follow? What their reputation is with regulating agencies in the business?
It may seem like the most important thing when considering a mortgage is the interest rate. But it turns out there are many things to keep in mind. Use the tips above as a guide as you navigate this process.
Is now the best time to buy a house? Click here to learn more.
Per the July report from Triangle MLS:
"After months of declines, the inventory of homes for sale nationwide is beginning to increase as more sellers come to the market, looking to capitalize on record-high sales prices while providing a much-need boost of supply to America’s epic housing shortage. This is encouraging news for home buyers, who have struggled with a lack of supply and rocketing sales prices during the pandemic. For the 12-month period spanning August 2020 through July 2021, Under Contract Sales in Triangle area were up 11.7 percent overall."
In Chatham County, there was a 36.1% percent decrease in new listings in July. Similarly the year to date new listings, compared to last year, decreased from 1,052 to 1,028. The number of closed sales increased from 794 to 927, a 16.8 percent increase. Median sales prices also increased by 17.1 percent. In July, Chatham County median sales price was slightly above the median sales price for all MLS listings.
In Durham County, new listings decreased by 0.7 percent and closed sales have increased 5.1 percent year to date. Median sales price has increased 21.9 percent from this time last year, moving from $291,250 to $355,000. Average sales price increased by 22% year to date. In July, the Durham County median sales price was comparable to the median sales price of all MLS listings.
The number of listings in Orange County has increased by 9.1 percent, from 1,305 new listings year to date last year to 1,424 new listings this year. There was a 16.7 percent increase in closed sales. Additionally, median sales price increased by 29.3 percent, from $321,000 to $415,000. In July, Orange County median sales price greatly exceeded the median sales price for all MLS listings.
The number of listings in Person County has increased by 7.2 percent, from 279 new listings year to date last year to 299 new listings this year. There was a 19.7 percent increase in closed sales. Additionally, median sales price increased by 14.9 percent, from $190,000 to $218,325. In July, Person County median sales price was comparable to the median sales price for all MLS listings.
In Wake County, there was a decrease of 4.6 percent in the number of new listings year to date compared to last year. The number of closed sales increased 5.4 percent. Median sales prices also increased by 20.9 percent for July 2021 compared to July 2020. Compared to the median sales price for all MLS listings, Wake County median sales price were level in July.
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Perfect your listening skills to become a stronger communicator in every facet of life. Learn how to make the speaker feel heard, and how to become an active listener using the strategies below:
Wondering if now is the best time to buy a house? Carl will listen to your goals and assist you with reaching them. Check out this article written by Money Mag specifically for Carl Johnson Real Estate!
Everyone has an individual way in which they communicate and how they work. Understanding which of these groups you fall into will help you successfully navigate relationships and workplaces. Read below to determine with the communication and work styles suit you best:
When moving out of town/area, it's important that you find an excellent real estate agent to help you in your new town. I belong to a vast network of agents and can offer you a referral to a trusted, great real estate professional. Read below for more information and don't hesitate to call/text Carl with questions at (919) 880-0904!
You don't have a second chance to make a good first impression, and this couldn't be more true when it comes to selling your home. People often form first impressions within seven seconds of an interaction or experience. First impressions are key to attracting buyers; in fact, many buyers will know within a couple of minutes whether they're going to make an offer or not. As a result, creating a compelling first impression is an essential part of the selling process.
So how exactly do you create a good first impression when selling your home? These tips can help:
When listing your home on the market, be sure to set yourself up for success. It takes many buyers less than 10 or 15 minutes to tour a home, so you only have a short period of time to make a good impression.
Click here to read about what to do when getting ready to sell your home!
As a buyer, it's easy to become emotionally invested in a home, especially when you find one that meets all of your criteria. However, it's so important to ensure your offer includes a home inspection contingency and to keep your emotions in check until the home inspection report comes back. A home may seem like a dream come true on the surface, but the home inspection report may transform it into a nightmare.
A home inspection usually takes place within the first 10 days under contract. The report will usually outline minor defects to major structural issues and everything in between. If there are serious issues such as foundation damage, roof damage, or mold in the basement, you'll likely need to negotiate with the seller on how to remediate the issues. If your dream home fails the home inspection, that doesn't necessarily mean all hope is lost. Don't panic. Instead, your real estate agent can help guide you through these steps:
While it's true that a failed home inspection can sometimes derail a home sale, deals are more likely to fall through due to an unwillingness to negotiate on how to remediate the situation. The best thing you can do is keep emotions in check, calculate the cost of repairs, and attempt to negotiate with the seller. Depending on the cost and the severity of the repairs, there is a good chance you can come to a resolution before walking away from the deal.
Click here to read about home improvement projects that can increase the rate of return on your home!