2 Questions for Home Buyers

If you've been thinking about buying a house recently there's a good chance that you're weighing the pros and cons of purchasing as the market shifts. Last year, when interest rates were at an all-time low the biggest concerns for home buyers were lack of inventory, increased competition (multiple offers), and rapidly rising home prices (many paying over appraised value).

Today, buyers are most concerned with the rising interest rates, however, the good news is that interest rates will continue to fluctuate, and history tells us that it's just a matter of time until they fall again. The advantages of today's market include more homes to choose from (almost 25% more than this time last year), more time to decide which home to offer on and how to structure the offer, more flexibility for contract terms (inspection period, closing date, contingencies like home sale and appraisal), and of course, the ability to negotiate price, seller concessions and repairs found during inspection.

I encourage my Buyers to focus on the following two questions when deciding to make a move -

1. Why are you looking to move?

   1. Are you currently renting? How does the cost of renting compare to a monthly mortgage amount?

   2. What is missing from your current living situation? Do you need more space/rooms/garage/yard?

   3. Is location important to you? Are you switching jobs and considering a new commute? What about the schools your home is zoned for?

2. How does your answer to #1 fit into our current market conditions?

   1. How long do you think you'll live in this next home?

   2. Do you think interest rates will come back down and you could refinance in the future? Or should you consider buying down the current rate to decrease your monthly payment?

   3. Would you be open to renting the home out in the future?

   4. Overall, is the home a good investment? Consider the location, condition, opportunity to add value by renovating, etc

After reviewing the above questions be sure to discuss your answers in detail with your Realtor and Lender. There are so many ways that you and your Realtor can get creative with offer terms and negotiate to ensure you make a smart purchase, and also options to discuss with your Lender to determine the best loan for your financial situation.

As always, thanks for being here!

- Lindsey

This time, I'm making the move! :)

"Change is the law of life. And those who look only to the past or present are certain to miss the future." - JFK

Over the past two years at my previous brokerage, I sold just under $17,000,000, helping 48 families with their home sales! I learned so much from so many good people there and look forward to working future transactions together as I'm sure our paths will cross again.

This week I made the move over to Hyser., a luxury Real Estate Brokerage in Winter Park, FL. I'm excited to take my business to the next level and continue to provide my customers with the highest level of service. I can't wait to share our innovative marketing plans with my Sellers and streamlined home buying processes to ensure my Buyers have an exciting and stress-free house hunting experience with me. More to come!

As always, thanks for being here!

- Lindsey

5 things I'd Never do when Buying a House

Buying a home is a BIG decision! Some seasoned Buyers know what to watch out for but many first timers aren't aware of potential risks until it's too late. As a Realtor here are the 5 biggest mistakes I see ...

1. Working with a *random* Realtor. How did you find this Realtor - referral from a friend?, clicked a tour request on Zillow? Saw a sign on your street? Whether the agent comes highly recommended or the connection was completely random, it's important to interview them, review their sales volume, read past customer testimonials and check out their online presence to determine if this is someone you can work well with and can trust to represent you in what will likely be one of the biggest purchases you'll ever make.

2. Similar to #1, Working with a *random* Lender. However you're connected with your Lender or Loan Officer it's important to interview them as well. What are their working hours? Will they be available for urgent questions or to revise a pre approval letter when the offer is due in on a weekend? Will they be 'hands-on' throughout the processing of your loan or who else will be working with you? Financing is a huge piece of the home buying process and the right team makes all the difference.

3. Changing your financial situation just before or during your home purchase. So you've gotten your pre approval or maybe you're already under contract and you run out one weekend to open a credit card at Home Depot or finance some furnishings in preparation for move in day - DON'T! Big purchases, changes in employment, withdrawing large amounts of money - all of these will at the very least raise eyebrows from your Lender and could easily throw off your Debt to Income ratio meaning you're no longer qualified for the loan! Best to fly under the radar financially during the home search and then begin all those fun home projects and shopping AFTER closing.

4. Skipping the Home Inspection. For obvious reasons it's a good idea to have a professional inspect the major systems of the home, crawl in the attic, turn on all appliances, sprinkler system etc,. BUT that's not the only reason I would never skip a home inspection. If you forego your right to inspect the home you've lost a major opportunity for negotiating. You don't know if the Seller is willing to make repairs or offer a credit towards your closing costs unless you ask - and the Seller will be much more inclined to agree if your Realtor can make a case for your request, think photos from the inspection, quotes from experts in the field, etc.

5. House hunting without a budget or clearly defined goals. Imagine beginning any big project without an end result in mind, it usually doesn't go as planned. With a comfortable budget and clearly defined wants and needs your home search will go much more smoothly. I can't tell you how many homes I've shown that the Buyers knew from reviewing the listing online that it wasn't a fit but thought just maybe it would be better in person... typically it's the other way around.

Questions about any of these? It's always better to have these conversations up front so you're ready to go when you find the home you love.

As always, thanks for being here!

- Lindsey