Coldwell Banker Murray Real Estate



Posted by Coldwell Banker Murray Real Estate on 9/18/2018

It can feel like real estate has its own language. After all, there is a reason agents take courses and need to become licensed!

And for a first-time buyer, I understand that it can be overwhelming and very confusing to keep track of all of this new information on top choosing the home of your dreams and planning a move.

Which is why I’ve created this quick and dirty list of real estate terms every first time home buyer needs to know.

Let’s get started:

A kick-out clause gives the seller the option to continue showing a house after a buyer has made their offer but is slowing down the process with the sale of their own home. The seller can then “kick out” that offer if someone else puts in a more desirable, and readily available, one.

A title-search is simply a search to pull up relevant information to the title of a house. It helps to determine the history of the home and if there are existing regulations in place that affect the property.

Escrow is a neutral third party used to handle transactions throughout the buying/selling process. They hold all related documents and funds until the day of the sale.

Earnest money is usually held in an escrow account and represents your commitment to the sale of a house you have made an offer on. Typically, the amount out down is between 1-3% of the asking price. It is also called “good faith money”.

An appraisal determines a property’s market value. Only a licensed appraiser can pull a report of this information for you. This is the report a lender will use to determine whether or not to lend money to a borrower.

Closing costs are paid at the actual sale of the house. The “closing” is when the title is transferred from the seller over to the buyer. The cost covers all of the fees that were incurred throughout the buying and selling process. A few examples of these fees are the home inspection, appraisal, and escrow. 

A comparative market analysis or CMA is a report pulled from a database your real estate agent has access to. This is then used to determine the offering and asking price of homes.

A contingency is when in order to move forward with a sale there are specific requirements the buyer must complete first. Common contingencies are: waiting on an inspection, pre-approval or signing.

Disclosures are required by law. But what are they? A disclosure means a seller has to inform potential buyers of and problems that would affect the value of the property.

Due diligence is doing the work of fully understanding the property you are interested in before buying it. This includes obtaining insurance, reviewing all documents carefully and walking the property.

During a home inspection appliances, plumbing and electrical work are tested. The heating and cooling system are also inspected. This doesn’t affect the monetary value of your home. This is a way for you to determine what state a home is in and if it is worth the financial investment to you.




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Posted by Coldwell Banker Murray Real Estate on 9/11/2018

Ready to negotiate the purchase of a new home? Ultimately, employing a real estate agent may help you avoid the stress and anxiety that is commonly associated with a homebuying negotiation.

There are many reasons to hire a real estate agent to handle a homebuying negotiation, including:

1. A real estate agent understands the art of negotiation.

A negotiation is a high-pressure situation, one that may be difficult to navigate on your own. Fortunately, a real estate agent understands what it takes to help a homebuyer get the best price for a house – without exception.

With a real estate agent at your side, you can receive support from an experienced negotiator.

A real estate agent possesses extensive skills and know-how, particularly when it comes to homebuying negotiations. This housing market expert will be able to negotiate with a home seller and ensure all parties are satisfied with the end results.

Furthermore, a real estate agent will dedicate the necessary time and resources to complete a successful homebuying negotiation. He or she will go the extra mile to negotiate with a home seller to help you acquire a home that matches or exceeds your expectations.

2. A real estate agent will keep you up to date at all times.

If you employ a real estate agent, it is important to know that this housing market professional will keep you informed throughout a homebuying negotiation. Lucky for you, a real estate agent will provide updates as you try to acquire your dream residence at a price that matches your budget.

A real estate agent acts as a liaison between you and a home seller. He or she will keep you up to date at each stage of a homebuying negotiation and will require your approval on any homebuying decisions.

Also, a real estate agent will provide suggestions during a homebuying negotiation. As a homebuyer, you always have the option to accept or reject this housing market professional's suggestions.

3. A real estate agent is unafraid to be honest with you.

Although a real estate agent will do everything possible to help you streamline a homebuying negotiation, he or she will provide honest, unbiased recommendations as well.

For example, if you want a home seller to drastically lower the price of a home after a property inspection, a real estate agent will handle your request. And if a home seller rejects your proposal, this housing market professional will provide you with feedback and help you map out your next step accordingly.

A real estate agent will be able to respond to any concerns or questions that you have during a homebuying negotiation too. As such, he or she can provide a valuable resource and offer homebuying insights that you may struggle to obtain elsewhere.

Don't let the complexities of a homebuying negotiation overwhelm you. Instead, collaborate with a real estate agent, and you can speed up the process of purchasing your ideal residence.





Posted by Coldwell Banker Murray Real Estate on 9/4/2018

You've officially added your home to the real estate market; now, you just need to generate interest among family members, friends and others who may consider purchasing your house. Fortunately, there are many great ways to share an online home listing with others, including: 1. Facebook As soon as your home listing becomes available online, feel free to share it via Facebook, a leading social network among men and women of all ages. Sharing a link to your home listing via Facebook enables you to provide information about your residence to friends and family members instantly. Plus, Facebook enables your friends and family members to share your post with others, further increasing your reach. Don't be afraid to include high-resolution photos with your Facebook posts, too. This will improve your chances that your Facebook posts will be noticed, and ultimately, could help you garner attention from prospective homebuyers. Also, each Facebook post should consist of one to two sentences. Ensure that each Facebook post is easy to understand and encourages readers to click on the link to view your home listing, and you may find that a large variety of homebuyers could become interested in your residence. 2. Twitter With only 140 characters at your disposal, sharing information about your house via Twitter may seem nearly impossible. However, those who understand what it takes to put together a great tweet could generate significant interest in their homes by using this social media platform. Typically, a great Twitter post should include a brief description that explains your home is now available. You also may want to highlight one feature of your home (like the style of your house, where it is located or the number of bedrooms it offers) and include a call to action that encourages readers to click on the link to view your home listing. Like a Facebook post, you will want to incorporate a high-resolution image into your tweet as well. Remember, a picture is worth a thousand words, and a first-rate picture of your home's exterior may encourage dozens of interested homebuyers to evaluate your home listing. 3. Email Have friends and family members who shy away from social media? No worries, as you can send them a link to your online home listing any time you choose. If you send an email to a friend or family member, be sure to include a clear, concise subject line. This will allow you to minimize the risk that your message could wind up in a recipient's junk email folder. Furthermore, be sure to include your real estate agent's contact information in your email. Because if a homebuyer knows how to reach your real estate agent, he or she can contact this real estate professional to set up a home showing immediately. An online home listing increases your house's visibility. And if you share your online home listing with others, you may be able to increase interest in your home accelerate the home selling process.





Posted by Coldwell Banker Murray Real Estate on 8/28/2018

You may think of downsizing as something that makes sense when you have an empty nest. Larger families do, of course, need more room. Downsizing can also be financially strategic and rewarding for you and your family if you have the opportunity to do so.


How Much Is Your Home Worth? 


There comes a point in your life when the amount of money that your home is worth is very important. Maybe you need the money for retirement and are looking to move to a cheaper city or state. Maybe it’s time for you to pursue your goals and dreams. Whatever the reason, your home is a very large asset.  


If you downsize, you’ll have a bit more money available to invest for your future. You may even consider buying an investment property. If all of your money isn’t tied up in a home, you’ll have a bit more freedom to do other things with your money.


A Smaller Home Means Smaller Expenses 


When you downsize your home you end up with much lower expenses for your housing. You’ll save big on both utilities and home maintenance. You’ll be surprised as to how much extra cash you’ll have each and every month that you’ll be able to use for other things like investing, travel, or other expenses. You’ll have the ability to do things beyond simply achieve that one dream goal of home ownership. 


What If You Don’t Already Own A Home?


There’s a lesson to be learned here for renters as well. If you’re getting ready to buy a home, you may want to think small. A smaller home that can suit your needs will allow you to save thousands of dollars over the life of the mortgage on your home. Remember that a mortgage payment is more than just the cost of the home. You’ll need to include things like taxes, insurance, mortgage insurance, heating, electricity, and more. The smaller the house that you buy, the less all of these things will cost. Think of what you could do if you invested that extra money that you saved on all of these things each month. 


What Would You Do With The Money You Save?


Having a big, beautiful home is a fantastic goal to achieve. You may have other dreams that you want to pursue in addition to owning a home. While downsizing isn’t for everyone, many people use the money they save to do some pretty incredible things like:


  • Travel
  • Go back to school
  • Buy a vacation home


The Negatives Of Downsizing


If you move into a smaller home, there are a few drawbacks. For one, you’ll have less storage and will actually need to downsize your amount of belongings as well. You’ll also have less room for visitors if hey come to stay. If grandkids frequent your home, you may be hesitant to sell and find a smaller place. It may also be difficult to find what you’re looking for at a certain price in a specific area. Think carefully before you decide to downsize and see if it has the right benefits for you.





Posted by Coldwell Banker Murray Real Estate on 8/21/2018

There is no need to let excess heat slow you down on moving day. Fortunately, those who plan ahead for a hot moving day can remain calm, cool and comfortable as they transport their belongings from one destination to another.

Now, let's take a look at three tips to help you prepare for moving in warm weather.

1. Get an Early Start

The early bird catches the worm. Much in the same vein, those who start a warm-weather move as early as possible may be able to beat the heat for at least a few hours.

Typically, the sun's UV rays are strongest in the middle of the afternoon. This means if you get an early start on moving day, you may be better equipped than ever before to reduce the amount of time that you'll be required to move large, heavy boxes in extreme heat.

2. Consider What You'll Wear

There is no need to wear baggy clothes that will weigh you down and further increase your body temperature during a warm-weather move. Instead, dress cool and comfortable on moving day, and you can keep your body temperature in check throughout the day.

On a spring or summer day, it usually pays to wear shorts and a t-shirt while moving. Also, you may want to wear a hat and sunglasses to help protect your eyes against the sun's UV rays.

Don't forget to apply plenty of sunscreen before you start your warm-weather move as well. Sunscreen will help you reduce the risk of sunburns on moving day.

3. Keep Plenty of Beverages on Hand

Excess heat can lead to dehydration that can make it tough for you and your moving team to complete your moving day tasks. If you keep a cooler filled with cold, refreshing beverages on hand, you can help your entire team stay hydrated throughout your move.

Pick up lots of bottled water and sports drinks prior to moving day. Furthermore, grab a few bags of ice and fill up your cooler, and you'll be good to go to help your moving team remain refreshed at all times.

When it comes to moving in extreme heat, it is easy to try to push through the heat to get the job done. But this approach may do more harm than good, as it may lead a person to become exhausted or faint. As such, you should try to plan regular breaks throughout a warm-weather move to help your moving team stay focused.

If you require extra moving day assistance, you can always reach out to a professional moving company. This business employs friendly, diligent moving specialists who can pick up your belongings and transport them to your new address, regardless of weather.

Lastly, don't hesitate to reach out to a real estate agent for moving day assistance, either. In addition to helping you buy or sell a residence, a real estate agent can put you in touch with the top moving companies in any area, at any time.




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