What is your debt to income ratio...why should you care?
by Val Velasquez
What is your debt to income ratio...why should you care? Any time you have more income and less debt, you’re in good shape in life. That said, there is an ideal ratio between your debt and income in order to qualify for a good mortgage. When your debt to income ratio is on the high side, you run the risk of not getting a good loan (or not getting a loan at all) if your income were to take a hit right before or during the loan funding process. Conversely, having no debt can work...
Read MoreWhat happens when you overprice your home?
by Val Velasquez
What happens when you overprice your home? When the real estate market favors sellers, it’s almost like there’s a feeding frenzy among buyers trying to secure listings that seem to get snapped up within hours of being put on the market. Such demand drives the prices of homes up rapidly, which only feeds into the perception that the good times will last forever. Unfortunately, trees don’t grow to the sky and there will always be a top of the market. What this means is...
Read More10 questions you must ask an agent before you list your home
by Val Velasquez
10 questions you must ask an agent before you list your home Currently, there are over 1.61 million Realtors in the United States alone. The number of people that have joined the real estate sales force over the last 10 years is more than a half a million.. No two agents are the same and less than 10% of the total number of Realtors to 90% of the business. In fact, the average agent has sold roughly 4.2 homes for more than five years now. In addition to that, not all agents are created equally....
Read MoreHow to beat other buyers to hot, new listings (Before they even know about them)
by Val Velasquez
How to beat other buyers to hot, new listings (Before they even know about them) Buyers want three things when they’re making a purchase: Selection: Have the largest number of options from which to choose Price: Get a smoking hot deal on what I want to buy Ease of doing business: Don’t make it hard for me to buy it It doesn’t matter if they’re buying shoes, a toaster or a house, all three of them matter and they usually matter in that order. And when...
Read MoreWhen is the Best Season of the Year to Buy to get the Best Deal
by Val Velasquez
When is the Best Season of the Year to Buy to get the Best Deal The housing market here in the United States has been moving at a blistering pace for a while now. On the whole, home prices increased more than 33% from February 2020 to June 2022. What’s even better news is that It’s expected that the housing market will continue to climb in the future — albeit a little more slowly now — due to the changes that were made in the lending market coming out of the mortgage...
Read MoreHow much you should put down to purchase your new home?
by Val Velasquez
How much should you put down to purchase your new home? Historically, home buyers seek to put down 20% when they purchase a home. However, according to a recent survey by The National Association of Realtors (NAR), the actual national average is much closer to 10%. When it comes to first-time homebuyers, the average down payment is at 4% as per the same survey. While down payment requirements vary based on the lender you choose to work with, the amount required will usually depend...
Read MoreWhy You Should Get a Home Warranty When You List Your Home
by Val Velasquez
Why You Should Get a Home Warranty When You List Your Home Home warranties aren’t just for buyers anymore. In the past, buyers have asked sellers to pay for a home warranty to give them a year of protection after it sells on roughly 16 major systems in the house including things like the electrical system, appliances, hot water heater, furnace, etc. Overall, it makes sense because the first time claim on a home warranty for most buyers runs around $1,500 to 1,600 plus a deductible...
Read MoreHow to get qualified to purchase a home for no money down
by Val Velasquez
How to get qualified to purchase a home for no money down Even with all the insanity that happened during the mortgage meltdown and all the changes that resulted in how money would now be lent to buyers, there are still some amazingly affordable loan programs out there. Included, believe it or not, no-money-down options for buying a home. Here are some of the best programs that are out there today and how you need to get qualified to purchase a home using them to buy a home for no money...
Read MoreHow to get the home with the furniture included
by Val Velasquez
How to get the home with the furniture included So you like the dining room table in the house you want to buy, but your agent tells you it’s not included with the sale. What do you do? In short, you ask for it. Well, you negotiate it as part of your offer to purchase the home from the seller. To effectively get the home you want with the furniture included, you should identify in advance any furniture that you are interested in buying and let the seller (or your agent) know...
Read MoreHow much money will go into your pocket after your home is sold?
by Val Velasquez
How much money will go into your pocket after your home is sold? It’s not what you make, it’s what you keep that matters. This holds especially true when it comes to the sale of your home. The sales price you see at the top of the closing paperwork is rarely, if ever, the amount of money that ends up in your pocket as the seller. There are often a variety of costs and fees associated with getting a home sold, so it’s important that you understand exactly what you’re...
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