Coldwell Banker Murray Real Estate



Posted by Coldwell Banker Murray Real Estate on 10/30/2018

As a homebuyer, you likely will want to do everything possible to secure your dream house at a budget-friendly price. Yet for those who are dealing with an aggressive property seller, achieving the optimal results may prove to be challenging.

Lucky for you, we're here to help you simplify the homebuying process so you can acquire your ideal residence at an affordable price – even if you're forced to deal with an aggressive home seller.

Now, let's take a look at three tips to help you deal with an aggressive property seller and accomplish your desired homebuying results.

1. Remain Patient

It may be tough to deal with an aggressive home seller at times, but those who stay the course can buy a house that matches or exceeds their expectations.

Remember, a patient homebuyer generally is a happy homebuyer. If a buyer avoids rash decisions and remains calm, cool and collected when dealing with an aggressive seller, he or she can boost the likelihood of making the best-possible choices throughout the property buying journey.

2. Focused on Your Desired Results

The ultimate goal of the homebuying journey is to find and buy a house that you can enjoy for years to come. In some instances, an aggressive seller may make it difficult for you to accomplish your goal. But if you prioritize the end results of the homebuying journey, you may be better equipped than others to secure a terrific residence.

If you focus on the big picture, you may be able to reduce the risk that minor issues with an aggressive home seller could slow down the property buying journey. And if you do whatever it takes to achieve your desired homebuying results, you may be able to find unique solutions to various problems.

Don't forget to maintain open communication with a seller. If you open the lines of communication with a seller, both you and a seller can work together to ensure all parties are satisfied with the results of a home sale.

3. Hire a Real Estate Agent

If you're uncertain about how to deal with an aggressive seller, you may want to hire a real estate agent. That way, you'll have an expert negotiator at your disposal.

A real estate agent is happy to negotiate with a home seller and his or her agent on your behalf. By doing so, a real estate agent will minimize the risk of potential property buying delays.

Let's not forget about the frequent updates that a real estate agent provides during a negotiation with a property seller, either. A real estate agent will keep you informed about seller negotiations and ensure you can move along the homebuying cycle. And if you ever have concerns or questions during the homebuying journey, a real estate agent is ready to respond to them at your convenience.

Manage the homebuying journey like never before – use the aforementioned tips, and you can avoid the headaches commonly associated with dealing with an aggressive property seller.




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Posted by Coldwell Banker Murray Real Estate on 10/2/2018

For those who want to simplify the homebuying process, crafting a budget is ideal. Because if you tailor your house search to your finances, you can eliminate the risk of spending beyond your means to acquire your dream residence.

Now, let's take a look at three tips to help you budget for the homebuying journey.

1. Analyze Your Financial Situation

Request a copy of your credit report – you'll be glad you did. You are eligible to receive a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Once you have your credit report, you can assess your credit score and take steps to improve it as needed.

Getting your credit report can help you identify outstanding debt and other financial issues that may make it tough to acquire a house. If you can correct these issues today, you can eliminate the risk that they could impact your ability to buy your dream residence in the near future.

2. Consider Your Homebuying Expenses

The price of a home is one of many financial considerations that a buyer will need to evaluate during the property buying journey. Fortunately, if you map out your homebuying expenses, you can ensure that you'll have the finances available to cover these costs as you pursue your dream home.

For example, a property inspection may be used to assess a house's condition before you finalize a home purchase. This inspection will require you to hire a professional home inspector, so you will need to make sure you have the money available to cover the cost of this homebuying expense.

You should consider home closing costs as well. And if you start saving for home closing fees and other homebuying expenses, you won't have to worry about scrambling to get the money to cover these costs as you navigate the property buying journey.

3. Get Pre-Approved for a Mortgage

Pre-approval for a mortgage is a must, regardless of your homebuying goals. If you meet with a variety of banks and credit unions, you can analyze your home financing options and select a mortgage that suits you perfectly.

Banks and credit unions are happy to teach you about different types of mortgages and how each type of mortgage works. Plus, if you have any mortgage questions, banks and credit unions are ready to respond to your queries right away.

As you prepare to pursue your dream house, you also may want to hire a real estate agent. In addition to helping you streamline your search for your ideal residence, a real estate agent can put you in touch with the top mortgage professionals in your area, help you plan ahead for various homebuying expenses and much more.

If you want to conduct a successful home search, it may be a good idea to prepare a homebuying budget. Thanks to the aforementioned tips, you can craft a homebuying budget so you can accelerate the process of acquiring your dream house.




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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 7/31/2018

When you’re shopping for a home, it’s easy to be overzealous in your attempt to find the perfect property. One of the biggest regrets of home buyers is that of paying too high a price for their dream home. There should be a balance between cost and the right property for you. No matter what kind of house you’re looking to buy or where you plan to buy it, a little planning goes a long way to help you get the most for your dollar when buying a home. Below, you’ll find some tips to help you avoid the dreaded mistake of overpaying for a home.


 Look For Amenities That Increase Value


Does the neighborhood you’re looking to buy in have a lot of cool perks? Perhaps the property is close to the heart of downtown or close to one of the most desirable schools in the area. These features add value to the home based on the demand in the neighborhood. 


You should also consider if the neighborhood is known as what’s termed “up and coming.” The potential that a neighborhood is also a factor in the price of a home. Is there a lot of construction going on in the area? Is the home you’re buying in a great area but considered a “fixer upper”? High potential properties in desirable areas can actually give you a bargain. A nice property in an area that is still being established can also be a bargain but beware. You may end up paying a higher price as sellers and developers understand that people are eager to move into the neighborhood. Also, if a neighborhood seems to be built up too much, it’s not a good sign. An overdeveloped area can lead to decreased property values over time.         


Inside the home, look for things that have been updated to increase the value of the property. An updated kitchen and bathroom add the most cost to a home as these are the most expensive rooms to renovate. Other perks in a home that greatly increase the value include new flooring, new roof, being situated on a cul-de-sac or dead end street, and easy access to highways and main routes.  


Know That Some Features Decrease Value


Things like power lines, poor economic growth in the community, high-traffic areas, foreclosures, and unkept homes can all drag down the value of a property. If you happen to be looking in one of these areas, understand that you shouldn’t be paying top dollar for a home there. Look for bargains. Whether you plan to stay or simply flip a property, you need to know at what point the price will be right without overpaying for the home.    





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Posted by Coldwell Banker Murray Real Estate on 7/24/2018

Buying a home is a lengthy process that requires months or even years of planning. The end result, however, is to have a home you can truly call your own and to own equity that you can then use later down the road.

Figuring out the right time to buy a home can be difficult for prospective homeowners. You’ll need to have a firm grasp on your finances and personal goals for what you want your life to look like for the next 5 or more years.

Buying a home in more than just a financial commitment. It also means you take on all of the responsibilities of owning that home. Maintenance, both inside and out, can take up a significant amount of your time.

Furthermore, owning a home ties you down to one area. You’ll need to determine if you’re ready and able to settle in one area for the next 5-7 years. This has implications for careers and for family life. Will your job bring you elsewhere? If you change jobs, are there ample opportunities where you live? These are just a couple of the questions you’ll need to ask yourself before deciding whether you’re ready to buy a home.

To simplify the process, I’ve created a checklist for some of the things you’ll need before you’re ready to buy a home. While this list does cover the basics, there may be other factors unique to your circumstances that you’ll have to take into consideration.

So, if you’re thinking about buying a home sometime in the near future, read on for the checklist. And, keep in mind that these are not necessarily mandatory before buying a home. But they will give you the best chance of making a solid investment and securing financial stability.

The home buyer’s preparedness checklist

  • Raise your credit score to 750 or more. A score in the “excellent” range will help you get the lowest possible interest rate on your mortgage. It’s possible to get approved for a mortgage with a score that is much lower, but a high score is ideal and can help you avoid PMI and a high interest rate.

  • Have an emergency fund saved. You don’t want to buy a house and then suddenly find yourself needing money for an emergency. Save a month’s worth of expenses before your down payment.

  • Have an active budget plan for saving up your down payment. Creating a dedicated savings account that you automatically have a portion of your pay deposited into is a good way to ensure that you meet your savings goals.

  • Bolster the case for your financial stability. Lenders will want to see that your income is predictable and regular. Keep records of your income, tax returns, and anything else that can help show that you’re making more than enough money to safely lend to.

  • Have open conversations with your family. If you’ll be buying a home with a spouse and/or children, discuss what you’re looking for in a home. This can include location, size, etc. It’s a good idea for everyone to be on the same page before you ever start shopping for a home.

  • Get preapproved. Getting preapproved for a home loan will make you a better prospective buyer in the eyes of sellers.

  • Run the numbers again. Aside from your mortgage payments, you’ll also have to pay utilities, trash removal, property taxes, and any other expenses related to the home. Make sure you can comfortably afford these while still contributing to savings.




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