Page not found https://mandycorriearealestate.com Wed, 15 Dec 2021 16:14:24 +0000 en-US hourly 1 Page not found false Page not found podcast Page not found https://mandycorriearealestate.com/wp-content/plugins/powerpress/rss_default.jpg https://mandycorriearealestate.com c9c7bad3-4712-514e-9ebd-d1e208fa1b76 Before You Go Home Shopping, Get That Mortgage Pre Approval https://mandycorriearealestate.com/2021/12/15/before-you-go-home-shopping-get-that-mortgage-pre-approval https://mandycorriearealestate.com/2021/12/15/before-you-go-home-shopping-get-that-mortgage-pre-approval#respond Wed, 15 Dec 2021 16:14:24 +0000 https://mandycorriearealestate.com/?p=551 Before You Go Home Shopping, Get That Mortgage Pre Approval You’re excited about purchasing a home and you know exactly all of the qualities you look for in it. However, you should hit the brakes and obtain a mortgage pre approval letter. This letter is a statement from your lender stating how much money you’re […]

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Before You Go Home Shopping, Get That Mortgage Pre Approval

You’re excited about purchasing a home and you know exactly all of the qualities you look for in it. However, you should hit the brakes and obtain a mortgage pre approval letter. This letter is a statement from your lender stating how much money you’re able to borrow for a new home. The preapproval letter will also state the interest rate that you qualify for. One reason why it’s vital to get the letter is that it gives you an idea of how much you can afford on the house. A mortgage pre approval letter will make you appear a more serious buyer to sellers in a sellers’ market. It reduces delays in closing. Here is more information on the mortgage approval letter.

 

How the Process Works

Before you meet with the lender, you need to prepare yourself with the right documents. Start by going to AnnualCreditReport.com to obtain copies of your credit reports from these credit bureaus; TransUnion, Equifax, and Experian. If you see outstanding debts that you owe, contact your creditors and develop a feasible payment plan to pay down your debts. This is important because if your debts exceed your income, you could be denied. Dispute any errors on your credit reports. You will also need a copy of your Social Security card, your W-2 forms, tax returns from the past two years, pay stubs, and proof of any assets such as investments. The lender will then review your documents then make a decision.

 

Choosing the Right Mortgage Lender

You want to make sure that you choose the best mortgage lender to obtain the preapproval letter.  Never settle for the first lender you come across. It’s best to research multiple lenders and compare the different terms, fees, down payment requirements, and rates before making a final choice. Ask your realtor for recommendations as well as family and friends. Some questions to ask the lender include:

  • How much will I need to put down on the home?
  • What are your interest rates?
  • What will the estimated closing costs be for the loan?
  • Are there other fees and costs associated with the loan?
  • What issues could delay the closing process?

 

Visit different lenders’ websites and read legitimate online reviews from credible sites such as NerdWallet to get an idea of the lenders’ reputations and what they offer. When you talk with a lender, you want to find out what types of loans they offer. You might be interested in an FHA loan but then find out that a certain lender doesn’t provide it. The lender should also be able to tell you which type of loan will work the best for you. Look for a lender that does underwriting in-house because it makes for an efficient closing process.  

 

Length of Time Before Approval

If you have all of your documents ready to present to the lender, you should get a response within a day or two. However, if your credit score is low or if there are more documents you need to present to the lender, then the response will take longer. This is why you need to gather all of your documents and fix credit issues at least a year before you meet with a lender.

 

Pre Approvals Have Expiration Dates

It’s important to note that mortgage pre approvals have expiration dates so this means that you’re not obligated to work with a certain lender because you have the letter. In addition, your financial situation can change for various reasons, and you might not qualify for that same loan as a result.

 

Common Mortgage Pre Approval Mistakes

Here are some mistakes you should avoid when applying for a mortgage pre approval. If you have been approved by a lender, there are some things you shouldn’t do. These include quitting your job, applying for new credit, and buying extravagant items with new credit. Paying off a chunk of debt during the approval process is also not a good idea because it eats up any cash reserves you have and lenders will want to know how you obtained the money to do it. Other mistakes include:

  • Not saving enough for a down payment
  • Not giving the lender important documents on time
  • Missing bill payments
  • Making unaccounted cash deposits to your checking account

 

Don’t Buy More Homes Than You Can Afford

You shouldn’t buy more homes than you can afford because this causes you stress when trying to pay a high monthly mortgage. If the lender says that you can borrow $300,000 for a new home, borrow less than that amount. Another reason you should do this is that you need to budget for additional costs of homeownership such as maintenance, homeowners insurance, utilities, and property taxes.

 

What If I’m Self-Employed?

Self-employed borrowers will still need to present the same documentation as non-business owners, but they will also need to present their 1040 tax returns to the lenders. Be prepared to pay more for your mortgage if you’re self-employed because some lenders might view you as high-risk. You can improve your chances of getting approved by reducing your debt load, keeping business affairs separate from personal ones, and possibly putting down a larger down payment. A credit score of 700 or more can also work in your favor.  

 

How Will Applying Affect My Credit Score?

When you apply for mortgage pre approval, your credit score will decrease temporarily because it is a hard inquiry. However, it’s important to note that if you apply to multiple lenders within a 45-day time frame, the credit bureaus will view these as a single inquiry. This is good news if you’re trying to compare different lenders but are concerned about how it affects your credit score.

 

Don’t Rush Into Choosing a Lender

The choice of a great lender is one you shouldn’t take lightly. Do thorough research and talk to as many lenders as you need to. There will always be homes for sale, and it’s better to take your time than to sign a mortgage that you’ll regret later because you wanted a certain home.

If you’re a first-time homebuyer who needs assistance with choosing the right home, contact us. We will make the process easier for you to understand, and we can answer any questions you may have.

man-offering-couple-contract / pre-approved-mortgage-document

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What It Takes To Obtain A Mortgage Approval https://mandycorriearealestate.com/2021/06/18/what-it-takes-to-obtain-a-mortgage-approval https://mandycorriearealestate.com/2021/06/18/what-it-takes-to-obtain-a-mortgage-approval#respond Fri, 18 Jun 2021 13:59:55 +0000 https://mandycorriearealestate.com/?p=511 What It Takes To Obtain A Mortgage Approval The mortgage approval process varies from state to state, and in most cases, it can be an overwhelming journey. That’s why whether you are buying your home for the first time or if you are a seasoned industry player, you need an experienced real estate expert by […]

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What It Takes To Obtain A Mortgage Approval

The mortgage approval process varies from state to state, and in most cases, it can be an overwhelming journey. That’s why whether you are buying your home for the first time or if you are a seasoned industry player, you need an experienced real estate expert by your side.

There are certain factors that you’ll need to familiarize yourself with during this process, and it would be best if you learned about them sooner. For instance, there are mortgage rate questions, requirements for a down payment, and mortgage program guidelines that get updated periodically. 

It would help if you were well informed about all these factors when seeking mortgage financing. To help you understand the basics of mortgage approval, what to expect throughout the process and how to make informed decisions, we prepared this piece with all the fundamental components of getting approved for a mortgage loan.

The Basics of Mortgage Approval

For you to be approved for a mortgage loan, there are standard procedures that usually determine the type of loan you’re applying for. A specific real estate generally secures mortgage loans. Below are the basics of a typical mortgage approval:

Debt-To-Income (DTI) Ratio  

A debt to income ratio measures a borrower’s overall income per month against their monthly credit and housing spendings. If the borrower has a low DTI ratio (which translates into more income and high credit payments), the lender will be confident in your ability to repay the loan on time according to the borrowing terms. This can accelerate your mortgage approval process.

Loan To Value (LTV)

Loan to value, otherwise known as LTV, is a borrowing term used by lenders to compare the overall value of a property and an outstanding loan amount. Depending on your loan program, an LTV may be applicable to avoid mortgage insurance. In such cases, you’ll be required to pay a larger down payment. However, some government loan programs are designed to assist borrowers in obtaining mortgage financing with an LTV ratio of between 96 to 100 percent. 

One such loan program is the Conventional Loan which allows a borrower to secure mortgage financing if they have an LTV that is above 80 percent. The borrower can then invest a down payment of 20% to avoid paying mortgage insurance. For example, if a property is valued at $100,000, the 20 percent down payment would translate into $20,000 or an LTV ratio of 20% this a conventional loan.

Credit Score

Another vital component of mortgage approval is the credit score. Lenders use credit score and borrowing history to determine the possible risks of loaning to a borrower. The higher the credit score and loan payment history, the more confident a lender will be in your application. However, some loan programs enable borrowers to work with other credit forms to qualify for a mortgage loan.

Type of Property

The type of property you’re planning to purchase and your overall plans to occupy it significantly influence your chances of getting mortgage approval. HOA restrictions, appraisal regulations, and insurance requirements for government mortgage lending are essential details which your realtor or agent should be aware of before putting out a property on sale. Be sure to go through the pre-approval letter with your agent or realtor before continuing with the process.

Mortgage Loan Programs

Every mortgage loan program has specific guidelines. These guidelines apply whether you need 100% property financing, low options for down payments, or if you’re looking to secure funding for renovations within a Rehab loan program. However, government-insured loan programs, like conventional loans, jumbo financing,  FHA, USDA, or VA home loans, are slightly different. 

When applying for mortgage approval, the lender will need to consider your DTI and LTV ratios, your overall credit score, and the type of property you wish to purchase to determine the type of loan program that suits your needs, financial ability, and goals.

The Basics of a Pre-approval Letter

The first step in a homeownership acquisition process is obtaining a mortgage pre-approval or qualification letter. The pre-approval letter provides the seller and the agent with an overview of the borrower’s monthly expenditures, the down payment options, and the terms of the loan program to budget accordingly. The letter also gives the seller a sense of security and reassurance that the purchase will go according to the contract and in time.  

However, it’s important to note that a Pre-approval Letter and a Mortgage Approval Conditions List are two different documents. A Pre-approval Letter is used when the borrower’s details, such as income and assets, and credit scores, have been reviewed. 

Ideally, the Pre-approval Letter is a mortgage professional’s official affirmation that the borrower fits the requirements for the loan program and qualifies for the mortgage loan. On the other hand, a Mortgage Approval Conditions List is a detailed document that addresses all critical guidelines for mortgage approval such as bank statements, tax compliance, employment gaps, updates of the property purchase contract, appraised value, and similar details.

Particulars of a Mortgage Pre-approval Letter

As already noted, the  Pre-Approval Letter is based on the guidelines for the loan program as per the borrower’s DTI, LTV, credit score, type of property, and status of occupancy.

A complete Pre-Approval Letter should inform the borrower of the down payment requirements, monthly payments, taxes, interest, principal interest, insurance, and other loan terms. Sometimes there may be a difference in the amount you qualify for and what the mortgage lenders have in their budget. Your realtor or agent should be able to help you understand these differences. However, the six most crucial particulars to look for in a Mortgage Pre-approval Letter include:

  • Loan Amount: Total loan amount. (Applicable in VA, FHA, USDA)
  • Mortgage Type: For Conventional and Jumbo loans, VA, FHA, USDA.
  • Loan Program Terms:  A fixed period between 15 to 40 years may contain Adjustable Rate Mortgage or ARM. If there’s an ARM, then it may have a 1 to 10 year fixed period with interest.
  • Status and Expiration Date – Some Pre-Approval Letter can remain valid up to 90 days from the date your credit report was issued.
  • Occupancy –  Owner occupied or secondary residence? Investment property?
  • Contact Information – Lender’s official information and contact details plus official conditions. Should indicate if the borrower qualified for approval. Should state the required documentation before funding.

Conclusion

As you can see, the process of getting approved for mortgage financing is quite complex and requires due diligence. However, if proper procedures are followed, you can obtain approval and funding in no time. 

The idea is to work with a qualified and experienced realtor who’s well versed in the process. If you’re looking for mortgage approval for your ideal property, talk to us for guidance. Whether it’s your first time or you are looking to acquire another property in or around Sonoma County, we have the expertise and experience to walk with you every step of the way.

Close-up of blank contract form and approved stamped, with shallow depth of field

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Will the Housing Market Maintain Its Momentum? https://mandycorriearealestate.com/2021/05/04/will-the-housing-market-maintain-its-momentum https://mandycorriearealestate.com/2021/05/04/will-the-housing-market-maintain-its-momentum#respond Tue, 04 May 2021 23:42:49 +0000 https://mandycorriearealestate.com/?p=505 Will the Housing Market Maintain Its Momentum? Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also […]

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Will the Housing Market Maintain Its Momentum?
Will the Housing Market Maintain Its Momentum?

Last week’s Existing Home Sales Report from the National Association of Realtors (NAR) shows sales have dropped by 3.7% compared to the month before. This is the second consecutive month that sales have slumped. Some see this as evidence that the red-hot real estate market may be cooling. However, there could also be a simple explanation as to why existing home sales have slowed – there aren’t enough homes to buy. There are currently 410,000 fewer single-family homes available for sale than there were at this time last year.

Lawrence Yun, Chief Economist at NAR, explains in the report:

“The sales for March would have been measurably higher, had there been more inventory. Days-on-market are swift, multiple offers are prevalent, and buyer confidence is rising.”

Yun’s insight was supported the next day when the Census Bureau released its Monthly New Residential Sales Report. It shows that newly constructed home sales are up 20.7% over the previous month.

Buyer demand remains strong. With more of the adult population becoming vaccinated and job creation data showing encouraging signs, existing-home inventory is expected to grow in the coming months.

What will this mean for home sales going forward?

Fannie MaeFreddie Mac, and the Mortgage Bankers Association (MBA) have all forecasted that total home sales (existing homes and new construction) will continue their momentum both this year and next. Here’s a graph showing those projections:Will the Housing Market Maintain Its Momentum? | Keeping Current Matters

Bottom Line

Living through a pandemic has caused many to re-evaluate the importance of a home and the value of homeownership. The residential real estate market will benefit from both as we move forward.

Get Pre-Approved Today

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First Time Home Buyers Loan Options and Credit Score https://mandycorriearealestate.com/2020/12/05/first-time-home-buyer-loan-programs-usda-vs-fha-and-credit-score https://mandycorriearealestate.com/2020/12/05/first-time-home-buyer-loan-programs-usda-vs-fha-and-credit-score#respond Sat, 05 Dec 2020 17:35:01 +0000 https://mandycorriearealestate.com/?p=497 Loan Options for First Time Home Buyers & Credit Scores! No/Low Down Payment Options for Home Buyers What Loan?? What is my credit score?? Buying a home for the first time can be stressful and nervous.  So many moving parts.  The best advice is to hook up with a Realtor you trust and a Lender […]

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Loan Options for First Time Home Buyers & Credit Scores!

No/Low Down Payment Options for Home Buyers

What Loan?? What is my credit score??

Buying a home for the first time can be stressful and nervous.  So many moving parts.  The best advice is to hook up with a Realtor you trust and a Lender you trust.  Most often, the Realtor will be able to refer you to a few lenders to choose.  Buyers need to understand credit reporting and loan options with no or low down payment requirements.  USDA and FHA tend be the most popular options.

Understanding the Credit Score for Home Loans

First time buyers sometimes don’t even know they can even qualify.  They assume their credit score is not very good or that they can’t cave up enough money.  The factors are necessary, but these Soon-To-Be Buyers needs some education on the process.  When applying for a home loan the buyer will complete an application and provide the lender necessary income documentation & asset information.  The lender then pulls a tri-merge credit report.  This is important as it is pulling the Equifax, Transunion and Experian.  This is very important because most banks, car loans, credit cards only pull one bureau for their qualifying purpose.  So, this means when your buyer is getting their monthly credit score update from their bank or credit card company, they may only be getting 1 score by 1 bureau.  A mortgage lender will have all 3.  They then ignore the lowest score reported and the highest score reported.  They use the middle score.  Keep in mind, the highest and lowest bureau reporting may not always be the same for you or another buyer.  Each creditor reports to different bureaus.  So the buyers middle score could be from Transunion and their spouses middle score could be Experian.  Never rule out you have “bad credit” or “amazing credit,” let the lender be the judge on that.

Buyer Loan Options with No/Low Down Payment

There are some great loan options for first time buyers that require No or Low down payment option.  So, all that money the buyer things they have to save may not be the case at all.  USDA is a government loan that require No Down Payment for rural areas.  They have a cap on price for the different counties and they have a income grade for number of people in the household.  This is not a low income loan, as the income caps are fairly comparable to the income in the different counties.  Depending on the market, it is possible to get the seller to pay for closing costs.  Which then, in return, allows for very little money by the Buyer.

Now there is, also, the FHA government loan program.  This one has more flexibility with lower credit scores and income and price caps.  It does, however, require 3.5% down payment.  This down payment can, also, come as a gift from a family member.

USDA vs FHA

First Time Home Buyer Programs

USDA vs FHA

Preapproval Application

Property Search for Your Area

8 Loan Programs for First Time Buyers

First Time Buyers Home Loans

Mandy Corriea, Broker Associate DRE#01373076

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Buying Your First Home https://mandycorriearealestate.com/2020/11/10/buying-your-first-home https://mandycorriearealestate.com/2020/11/10/buying-your-first-home#respond Tue, 10 Nov 2020 19:49:52 +0000 https://mandycorriearealestate.com/?p=415 Buying Your First House: Tips For Buyers Be prepared, especially in a Sellers Market.  The article shares the tips for Buyers on Buying your first home. Follow the link to my site for Buying & Selling Tips as well.  The amount of resources available with the “right” agent is substantial.  Your agent will prepare you […]

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Buying Your First House: Tips For Buyers

Be prepared, especially in a Sellers Market.  The article shares the tips for Buyers on Buying your first home.

Follow the link to my site for Buying & Selling Tips as well.  The amount of resources available with the “right” agent is substantial.  Your agent will prepare you and guide you through the whole process.  As well as a good lender and escrow company.  Again, these resources are part of your “right” agent’s team.

Tips for buying a home

Buying Your First Home

Buying Your First House: Tips for Buyers

Buying and Selling Tips

 

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VA Home Loans and the benefits https://mandycorriearealestate.com/2020/11/10/va-home-loans-and-the-benefits-for-veterans https://mandycorriearealestate.com/2020/11/10/va-home-loans-and-the-benefits-for-veterans#respond Tue, 10 Nov 2020 15:32:56 +0000 https://mandycorriearealestate.com/?p=377 VA Home Loans and the Benefits for Veterans, Active Duty and/or Surviving Spouse Benefits to VA home loans:  Low Rates, No Down Payment Required, No Private Mortgage Insurance, Assumable…… Pre-approval Application US Dept of Veteran Affairs

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VA Home Loans and the Benefits for Veterans, Active Duty and/or Surviving Spouse

Benefits to VA home loans:  Low Rates, No Down Payment Required, No Private Mortgage Insurance, Assumable……

VA Home Loans

VA Home Loans and the benefits to using when purchasing a home

Pre-approval Application

US Dept of Veteran Affairs

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How To Prepare for a Bidding War https://mandycorriearealestate.com/2020/10/22/how-to-prepare-for-a-bidding-war https://mandycorriearealestate.com/2020/10/22/how-to-prepare-for-a-bidding-war#respond Thu, 22 Oct 2020 17:49:43 +0000 https://mandycorriearealestate.com/?p=363 Preparing for a Bidding War in Today’s Market So, how to prepare for a bidding war when making an offer on a new home??  Today’s market can be tough, especially with low inventory.  In Sonoma County we have the, unfortunate, change of events impact the real estate market as well as the work force numbers.  […]

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Preparing for a Bidding War in Today’s Market

So, how to prepare for a bidding war when making an offer on a new home??  Today’s market can be tough, especially with low inventory.  In Sonoma County we have the, unfortunate, change of events impact the real estate market as well as the work force numbers.  2017 we were hit with the Tubbs fire which burned over 3,000 homes to the ground.  Building of the replacement homes started immediately.  However, we had another big fire come around in 2019- Kincade fire.  Sonoma County was not prepared at all for the Tubbs fire, but this go around with the Kincade was a different story.  We did not lose nearly as many homes or structures but we had a lot of smoke damage form Kincade.  This chain of events of evacuations, Warnings and then smoke damage evaluation and Restoration of homes, really halted the real estate market.  And now with the 2020 Pandemic, along with some more lighting fires, we just can’t seem to catch a break.  We are competing with each other AND the Baby Boomers moving from the city.

It is very important to go into every deal ready to go to war and bid!  This is, also, where it is very important you have an experienced realtor on your side.  A realtor that is experienced, but liked in the community and know to “get things done.”  Keep in mind that sometimes the best offer is not just in price.  You may go up against many offers and “bidding war” may be a serious of items that intrigue the Seller.  Your experienced agent will do the homework on the sellers- their motivation to sell, the factors that they need for a smooth close, etc.

Get Preapproved for your home loan

Know what you can afford

To get you prepared for a Bidding War, we first get you pre-approved.  Let’s see where you stand in qualification.  You may only want to pay a certain price, but I always recommend getting approved for the max so you know what that payment looks like.  Be prepared, on the event, you do have to go up in price-  It is better to know right away if that option is even a choice for you.  No delays, cut to the chase.  Having a good lender is helpful here as well.  Many programs for buyers and many strategies to put a good offer together.  These different programs may allow a higher debt to income ratio, or lender paid MI into rate, etc.  Lender has a job to find you the best program/price.  When we prepare for a bidding war, we come in with a lot of ammunition.  A few different price points and scenarios can help you feel prepared, in the event, the Seller counters your offer.  At that time it is important to answer fast, before another offer swoops in.

Make Your Best Offer

Highest offer is not always the best offer.

Now for the offer- we look at timelines for seller and for yourself.  We ask questions like “does the seller need a rent back” or “does the seller need a longer escrow.”  All these question can help you understand the seller and relate to their situation.  Is this the home they raised their children in?  Is this the home that was a rental and no emotional connection? A letter to seller tugging at the heart strings could make a difference when offering on a family home.  But, it may be worthless for an investment home.  So many variables, but this is why choosing the “right” agent is important.  I have been known to get an offer accepted just because I was the agent and the listing agent liked working with me.  I have had listing agents share that they would rather not work with another agent, as that agent has had poor dealing’s and is always canceling his buyers for lack of preapproval, etc.

All great points when tying to prepare for a bidding war.  Keep in mind when there are other offers, you need to come in with your best offer.  Last thing that you want to happen is offer a little less “to see” and then they take a different offer that is lower than what you were willing to pay IF a counter offer came.  In a bidding war there is NO GUARANTEE that the Seller will even issue you a counter offer.   Sometimes there are too many offers and sellers just pick the best.  So, ALWAYS, go in with your best offer….Especially, when you know there will be more offers.  Seller will not always give you a counter offer.

Pick the “right agent,” experience a must!

how to prepare for a bidding war

How To Prepare for a bidding war

How To Prepare For A Bidding War

MandyCorrieaRealEstate

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What Gets Your Home Sold: Photography https://mandycorriearealestate.com/2020/09/10/what-gets-your-home-sold-photography https://mandycorriearealestate.com/2020/09/10/what-gets-your-home-sold-photography#respond Thu, 10 Sep 2020 20:58:44 +0000 https://mandycorriearealestate.com/?p=319 The Tools to What Gets Your Home Sold Quickly and at the Price You Want Sellers, It is time to list your home….Now what? What gets your home sold?  First and foremost hire an agent that has the expertise to sell a home in any market.  This agent has 10+ years and has been through […]

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Good Photography

The Tools to What Gets Your Home Sold Quickly and at the Price You Want

Sellers, It is time to list your home….Now what? What gets your home sold?  First and foremost hire an agent that has the expertise to sell a home in any market.  This agent has 10+ years and has been through the ups & downs of a volatile real estate market.  Next, check the reviews of the agent, are they respected in the community, do they have listings in many areas, and what is the quality of their work.  This leads me to getting Your home sold.

Of course, I will be talking as Your Expert Agent with 20+ years experience, good reputation and quality work!  To get your home sold quick and at/close to the price you want you need to price it correctly.  The idea to “price higher and then we can work our way down,” is not always the way to go.   It’s a myth.  Or pricing too low can “scare” buyers away- “What is wrong with the home.” A good agent, Me, will do a search of comparable homes in the area.  And if you have a unique home or neighborhood with little turnover then there may be more steps for Me to come up with a price.  But, once I come up with a price, it is a number that I feel, as the expert, is the price point that works to get the home sold.  But, wait, that is not all…..What gets your home sold?  Photos, Videos, Marketing everywhere.   Seriously, Photos are key.  It is very important to have good, quality photos taken for your home.  A LOT OF PHOTOS!  We want tot showcase all the things a Buyer is looking for, and not showcase what may hurt your sell (old fences, old roof, etc).  In a perfect world, you would update the whole home completely and everything is perfect.  That is not reality.  Money may be limited, time may be limited, or resources may be limited.  So, my job is to help you get the home “show ready” for the photos.  Most buyers are doing their home searches on line.  Some Investors will buy the home, based off photos and videos online, without evening seeing the home in person.   Videos of the home are important as well.  It may be a drone aerial still shot or a video entering the property showcasing the views, but they are important.  An agent, like Me, is here to showcase your home and make it stand out above the competition.  As the expert, I can guide you on how to de-clutter your home, how to add “pops of color,” and what needs to be hauled away.  Or, hiring a professional stager is necessary- sometimes just moving your own items around can be enough.

What gets your home sold??  A really good agent, Mandy Corriea 🙂

How to create a listing that stands out

5 Photography Tips to Sell Your Home Faster

MandyCorrieaRealEstate

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Home Staging on a Budget, The 5 Golden Rules https://mandycorriearealestate.com/2020/06/06/home-staging-on-a-budget-the-5-golden-rules https://mandycorriearealestate.com/2020/06/06/home-staging-on-a-budget-the-5-golden-rules#respond Sat, 06 Jun 2020 23:39:20 +0000 https://mandycorriearealestate.com/?p=299 It is important to take the time to stage your home before putting it on the market, even if its just the 5 Golden Rules. Home staging can be pricey depending on how large your home is and if you need to remove all items from the home. Home staging can be done on a […]

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It is important to take the time to stage your home before putting it on the market, even if its just the 5 Golden Rules.

Home staging can be pricey depending on how large your home is and if you need to remove all items from the home. Home staging can be done on a budget.   Homes that are occupied by Sellers, are on the market all the time.  Sellers are living in their homes.  Some have kids and pets.  But, a good agent will set the expectation for the Buyer they bring through the home.  But, a good agent will prepare the home to sell. And, if Professional Staging is not in the budget then there are many things you can do to your home to “stage” it with a few dollars or no money at all.  The idea behind this is that you want that buyer to envision living in your home.  However, we don’t want them to see how you “really”live….UNLESS, you are the person who lives like a magazine photo and I know many of you like this and I am jealous!!

Home staging on a budget can be things as easy as De-Cluttering.  This is my #1 rule.  De-clutter closets and book cases.  Remove all the nick-knacks you have collected through the years.  Remove all those awesome family photos & wedding pictures.  Take all items off counters in Kitchen and Bathrooms.  This is a great time to just start packing things away.  For the bathroom, I recommend a cute little basket with all your necessities.  When you leave for showings put that cute basket away.  Same for closet.  Box it up, especially closets packed with clothes.  Pack away what you won’t wear.  Big jackets in the Summer and Shorts and sundresses in the Winter can be packed away.  To be honest, a garage full of nicely organized boxes or storage tubs is not a turnoff for Buyers.  A, it shows you are getting ready to move and B, it can help show the size of the garage space.  This article that RIS Media put out goes over the 5 Golden Rules.  I agree with everyone of them.  You are setting the “tone”for the potential Buyer who may or may not have similar taste, kids, animals, etc.  If they do then you have no worries, but chances are they will not.  So, make that 1st impression on a budget.

home staging on a budger

Home Staging on a Budget and the 5 Golden Rules

5 Golden Rules of Home Staging on a Budget

http://www.MandyCorrieaRealEstate.com

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Fixer Upper Money Pit is it for you? https://mandycorriearealestate.com/2020/03/04/fixer-upper-money-pit-is-it-for-you https://mandycorriearealestate.com/2020/03/04/fixer-upper-money-pit-is-it-for-you#respond Wed, 04 Mar 2020 18:26:23 +0000 https://mandycorriearealestate.com/?p=279 Fixer Upper Money Pit Cosmetic or Bones?  Fixer Upper can mean different things for many: Want a fixer upper?  I meet clients, often, looking to buy and “flip” or want a deal on a Fixer Upper.  Looking for the deal of the year.  I am not against this but it does take a level of […]

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Fixer Upper Money Pit

Cosmetic or Bones?  Fixer Upper can mean different things for many:

Want a fixer upper?  I meet clients, often, looking to buy and “flip” or want a deal on a Fixer Upper.  Looking for the deal of the year.  I am not against this but it does take a level of sophistication to make this happen, successfully.  First you need to determine a budget.  Then what you would like to net from the deal?  Be sure to have a buffer in the budget for those items that show up while you are doing the demo.  A cosmetic fixer is pretty much going in and making the home look pretty.  Update floors, bathrooms, paint inside and out.  A “real” fixer upper is a “gut job.”  You will need to be aware of what is or could be behind those walls, under the house and under those sinks.  A good agent can help assist with this.  But, keep in mind a lot of these types of homes have no reports on file and you, usually, need to make an offer BEFORE you get inspections.  However, don’t get discouraged.  Just use your resources so you know what you are getting into.  An agent will run comps based off the home being improved at that time.  We get a contractor in the home to give us a bid.  Most contractors will leave a “buffer” or “pad the budget.”  They, too, know that once they open up walls, etc, more problems or repairs could be exposed.   When thinking about getting into the “flip” business, think about end result.  Almost any buyer is going to get inspections completed and it will expose anything you try to hide, so don’t.  If you purchase a Fixer Upper, then do just that….Fix it Up!  And don’t go at it alone.  A realtor is one of your good resources.  They have the relationship with the listing agent and they can communicate the concerns.  Don’t be afraid of purchasing a Fixer Upper, but be aware and informed.  Call me to help you!

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