Is Buying a Fixer-Upper Worth It?

Homes listed in a condition that requires extensive repairs are called “fixer-uppers” for a reason. While these types of homes are often much cheaper than the asking price of similar remodeled homes in the area, many first-time homebuyers make the mistake of taking on more than they’re able to handle, spending hundreds of thousands on making the house livable. Below …

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How Home Appraisers Determine Value

  When preparing to sell your home, your mortgage lender will usually order an appraisal to determine your level of qualification for the loan, and to make sure you’re not over-borrowing. An appraiser will then inspect your home and prepare a report that includes an analysis regarding the value of the property. It’s required by the Appraisal Institute that in …

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6 Things New Homeowners Always Forget to Do

1. Check the Plumbing Inspect each toilet, under-sink plumbing, faucets, and visible pipes to make sure there are no leaks. If you find any, get it fixed right away—wasted water means wasted money. 2. Find the Fuse or Breaker Box These are generally located in the basement or the garage of a house, and sometimes in the closet or laundry …

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Your Guide to Mortgage Loans

Fixed-Rate These mortgages have the same interest rates for the length of the loan, which means your monthly payment will also never change. Although this guarantees stability as payments will never raise over time, the downside is that your interest rate will also never lower with the market. Fixed-rate mortgages are available for 10, 15, 20, 25 or 30–year terms. …

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How Commission Works in Real Estate

  Something to keep in mind is that sellers can negotiate the commission, but buyers cannot. It’s also tax deductible! Here’s a breakdown of exactly where that commission fee ends up: Paid by Seller When signing a listing agreement, the seller acknowledges the commission rate they will need to pay, which is typically 6 percent. This amount is generally split …

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How to Find the Home of Your Dreams

  There’s more to buying than just making an offer—here are a few important things you’ll need to keep in mind when house-hunting. Do The Research Make sure you get familiar with market trends and values in the area in which you are looking to buy. Although your real estate agent will have this knowledge, you will find it much …

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What Makes a Great Real Estate Agent?

Representing the seller or buyer is the bare minimum of what it means to be a real estate agent. Here are the most important qualities to look for before you make a decision. A Background of Experience The best real estate agents have a diverse background of skills and knowledge; not only in real estate transactions, but also in personal …

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Buyers, Start Your Engines

Have you been renting for way too long, but aren’t sure if buying a home is worth the financial investment? Here are just a few reasons why the best time to buy real estate is now. Interest Rates are Low The average 30-year mortgage rate in the U.S. is currently just below 4 percent, and experts predict the Federal Reserve …

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Important Inspection Tips Before Buying a Home

Before you sign a mortgage and commit yourself to a home for years to come, you’ll want to make sure it’s great, not just on the exterior. Encinitas home buyers want to be cautious to make sure they are getting exactly what they expect they are. Here are a few important inspection tips to make before you buy a home …

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Home buying, Know What You Want a Community to Offer

When approaching home buying you not only want to consider the home and neighborhood, you also want to think about the broader community. The community is often as important as the home you are living in. Some communities are more involved than others. It’s good to know what you want a community to offer prior to buying a home. Safety …

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