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

Market Update - Attn: Buyers & Sellers

The swing back toward a more neutral market is HERE... and there's good news for both home buyers and sellers!

Buyers: Finally a bit of relief! Loads more inventory hitting the market, investor competition has slowed, and negotiating for longer inspection periods, closing cost assistance or credits for home repairs is back in play. Of course, every listing is unique and certainly don't think that because the market is shifting you can let your guard down - a fairly priced home in a great location with nice features and/or updates will likely still sell within a few days with multiple offers. But are there Buyers make great purchases right now, absolutely! 'What about interest rates?' you might be thinking... Remember that interest rates remain historically low (today just over 5%) and can always be refinanced down the road. Working with the right Lender can help you determine if a Seller credit to buy down the rate could be a good move for you, too. Check out the recent influx of homes hitting the market in Orange and Seminole Counties below.

Sellers: Don't believe the nay-sayers claiming that the prime time to sell your home has passed - home values are up! In Orange and Seminole Counties the average home sale price is up 19% over this time last year - $402,934 in August 2021 and averaging $479,491 today. Remember that a home that is priced fairly, prepared for its next owner (clean, decluttered & nice curb appeal), and marketed with an experienced Realtor sells quickly for top dollar! Take a look at the home sale price growth in Orange and Seminole Counties over the past ten years below.

If you're considering whether or not now is the right time for you to make a move, please shoot me a message and let's set a time to discuss. I'm a big believer in working through the pros/cons for all of life's big decisions and happy to help you with yours!

As always, thanks for being here!

- Lindsey

Calling all Hometown Heroes!

If you're one of the wonderful people serving our community in the areas of law enforcement, education, healthcare, childcare, or military, you could qualify for up to $25,000 toward the purchase of a new home!!!

The Florida Hometown Heroes Housing Program has been helping to make housing more affordable since June 1 for first-time home buyers. Eligible buyers can receive lower mortgage rates and up to 5% of the loan amount toward their closing costs and down payment. Click below for more eligibility requirements and feel free to reach out if you have any questions.

Eligible Occupations

Income and Purchase Price Limits

As always, thanks for being here!

- Lindsey