08
Jan
By First Rate Financial Group
Real Estate

Top 5 Ways To Pick A High Quality Real Estate Agent

Top 5 Ways To Pick A High Quality Real Estate AgentYour real estate agent can be the difference between a successful home buy and a bad purchase. Take a look at the characteristics of a good real estate agent and how you should vet your next partner in real estate.

Patience

Does the real estate agent immediately tell you to give up your rights to audit a home for a quicker sale? You may want to move on. The best real estate agents realize how big of a commitment a home is, and they are willing to walk you through the process at whatever pace you are comfortable with.

Localized Knowledge

There are major differences in the buying process between cities. You need a real estate agent with a knowledge of local ordinances, building and zoning laws and culture. This will save you a great deal of money, believe it or not.

Negotiation Skills

You will go through a number of negotiations with opposing parties during the course of buying or selling a house. You can take them on yourself, but they can be difficult considering that you will likely be facing a real estate agent on the other end. It is usually advisable to have a professional with similar experience on your side. Pick a real estate agent who is not afraid to fight for you at the closing table.

Connections

The best deals in any real estate market may not be public knowledge. You may not even be able to get into certain neighborhoods or business districts unless you know somebody. Your agent should be able to help you in this regard. Pick an agent who is established in your marketplace and well connected.

Other Clients’ Experiences

No real estate agent worth his or her salt will have a problem showing you testimonials and reviews of clients that they have served in the past. You may ask to speak to other clients of that real estate agent if you would like to know their experience buying or selling their home.

Sometimes the best indicator of success is the stories of other people who have been in your shoes. Also, look at the ratings, reviews and testimonials of your agent on their website or other review sites. These are great resources to learn about other clients’ experience.

Another key partner in your home buying experience is your trusted home mortgage professional. Be sure to make contact if you are ready to get pre-approved for a new home loan or find our about options to refinance your current property.

04
Jan
By First Rate Financial Group
Real Estate

Should You Buy A Fixer Upper Or Move-In Ready Home?

Should You Buy A Fixer Upper Or Move-In Ready HomeThere’s a lot to be said for buying a move-in ready home. All you have to do is put your things away and start living your life. On the other hand, buying a fixer upper has its advantages, too. You can get a great bargain on a fixer upper home. So which one should you choose?

Here are some things to consider.

You Can Easily Afford To Buy What You Want

If money is no object, then a move-in ready home is the best choice. You’ll be able to get exactly the home you want with little or no effort decorating it the way you want. If you’re the kind of person who can hire an interior decorator, then you’ll likely want to spend time decorating, not reconstructing.

You Like A Challenge

If you think of owning a home as an adventure rather than a convenience, consider buying a fixer upper. You’ll have lots of interesting challenges, like figuring out where to buy those non-standard replacement windows, how to reinforce a floor for a tile installation and much more.

You’re Older And Just Want To Settle Down

Renovating a fixer upper requires energy and strength. If you’re older or you tire easily, buying a move-in ready home might be a better strategy. A fixer upper might be too much to handle if you attempt all the work without professional help.

Money Is Tight

If you feel you would be strapped financially to buy a move-in ready home with all the bells and whistles, consider a fixer upper. You’ll be able to easily handle the mortgage payment. You’ll be able to renovate on your own schedule, according to when you can afford new building materials.

You’re Looking For An Investment

If you’re looking to get fast equity out of your home purchase, a fixer upper is definitely a smart move. Once you complete the renovations you could refinance on the higher value and bank the profits.

As you can see, fixer uppers and move in ready homes are both good values, depending on your own situation. Hopefully this list of pros and cons will help you make the right choice for your lifestyle.

Your trusted mortgage professional is available to go over your financing options and get your pre-approval ready for when you find your perfect home. 

03
Jan
By First Rate Financial Group
Real Estate

5 First Steps For New Homeowners

5 First Steps For New HomeownersAs a new homeowner, now is the time to take control and organize your house for safety and security. The following first five steps should be carried out in the first few weeks if possible.

1. Change The Locks

There’s no way of knowing if the previous owners gave copies of the house keys to a friend, neighbor or cleaning staff. The very first thing you should do when you take ownership is to re-key the locks on all the doors, including the garage and any outbuildings there may be on the property.

Alternatively, you can install brand new locks. Either way, a locksmith can take care of this for you.

2.  Locate Shut-Off Valves

Don’t wait until a water leak to run around searching for the main shut-off valve. Instead, take a few minutes to locate all the shut-off valves for your new home. Write down their locations and post the list next to your circuit breaker.

3. Label The Circuit Breaker Switches

As the new homeowner, you’ll want to know what each circuit breaker switch controls. Work with a family member to methodically go through and flip each switch off and on to figure out the controls. Then carefully label each switch so you never have to guess again.

4. Place Fire Extinguishers

Be ready for a small fire emergency by placing fire extinguishers in each room of your new home. For the kitchen and garage especially, be sure to purchase the correct type of fire extinguisher. The labels on the extinguishers will guide your decision. Even bedrooms could have at least a small extinguisher handy, in case of an electrical malfunction. 

5. Survey The Land

It pays to walk the land around your property to visually survey it. You’ll want to know about potential issues, such as poison ivy growth or a broken fence panel. You might also find some happy surprises like a hidden rosebush or a nest of birds.

Taking the time to do these five steps will assist in making your new home more enjoyable for your family. They will also help you to familiarize yourself better with your new property. 

If you are in the market for a new home or interested in refinancing your current property, be sure to contact your trusted mortgage professional.