Navy Fellas Realty Group

Real Estate, Residential sales and purchase

A Tactical Plan to Go From Renter to Owner in One Year

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For many renters, the idea of homeownership feels just out of reach. Rising home prices, limited inventory, and financial uncertainty can make the process seem overwhelming. But with a clear plan, the right guidance, and a one-year commitment, you can move from renter to homeowner, and take control of your financial future.

Here is a practical, month-by-month roadmap to help make it happen.

Month 1: Assess Your Finances and Set a Goal

Start by reviewing your income, expenses, and debt. Use a simple budget worksheet to understand where your money is going. Pull your credit report from all three bureaus and check your score.

Set a realistic savings goal for your down payment and closing costs. While 20 percent is ideal, many loan programs allow for as little as 3 to 5 percent down.

Month 3: Build or Repair Your Credit

If your credit score needs improvement, now is the time to act. Pay bills on time, reduce credit card balances, and avoid taking on new debt. Dispute any errors on your credit report and work toward lowering your overall utilization rate.

Even small changes in your score can lead to better loan options.

Month 5: Start Saving Consistently

Open a dedicated savings account for your home purchase. Set up automatic transfers and treat your savings like a non-negotiable bill. If possible, cut back on non-essential expenses, pick up side work, or redirect windfalls like tax refunds or bonuses toward your home fund.

This is also a good time to explore down payment assistance programs in your area.

Month 7: Meet with a Mortgage Professional

Now that your finances are on track, schedule a meeting with a trusted lender or mortgage broker. They will help you understand your loan options, walk you through the pre-approval process, and calculate how much home you can afford.

Getting pre-approved now gives you clarity, and shows sellers you are serious.

Month 9: Connect with a Real Estate Agent

It is time to start house hunting. Choose a real estate agent who understands your goals, communicates well, and knows your market. Your agent will help you focus on neighborhoods that fit your lifestyle and budget, and ensure you are seeing homes that meet your criteria.

Month 11: Make a Move

When you find the right home, your agent will guide you through making an offer, negotiating terms, and completing inspections. From contract to closing, the process can take 30 to 45 days.

Before you know it, you will be holding the keys to a home that is truly yours.

You Do Not Have to Do It Alone

Becoming a homeowner takes effort, but it is absolutely possible with a plan in place. As your real estate agent, I am here to walk with you through each step from your first question to your final closing signature.

Let us turn your “someday” into “this year.”

Eco-Friendly Features That Actually Add Value

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Eco-friendly living is more than just a trend, it is becoming a priority for today’s homebuyers. While solar panels often get the spotlight, there are many other green features that not only reduce your environmental footprint but also boost your home’s resale value. If you are thinking of making upgrades before selling, or you are a buyer looking for long-term savings, these sustainable features deserve a closer look.

Energy-Efficient Windows and Insulation

Replacing old, drafty windows with double- or triple-pane energy-efficient models can significantly reduce energy costs and improve comfort. Paired with upgraded insulation in attics and walls, these improvements keep homes warmer in the winter and cooler in the summer, without overworking the HVAC system.

Buyers are increasingly aware of utility costs, and homes with these upgrades often appraise higher and sell faster, especially in regions with extreme temperatures.

Smart Thermostats and Energy Monitoring

Smart thermostats, like Nest or Ecobee, offer more than convenience—they can cut heating and cooling bills by learning a household’s habits and optimizing energy use. Buyers love seeing these systems in place because they offer immediate cost savings and reflect a modern, tech-savvy lifestyle.

Some systems even come with full energy monitoring dashboards, giving homeowners insight into their usage and empowering them to make more sustainable choices.

Drought-Resistant Landscaping

Water-efficient yards are rising in popularity, especially in areas where drought or water restrictions are common. Xeriscaping, native plants, drip irrigation systems, and artificial turf help reduce water usage without sacrificing curb appeal.

Eco-friendly landscaping is attractive to buyers not only for environmental reasons but also because it reduces long-term maintenance and utility bills.

Tankless Water Heaters and High-Efficiency Appliances

Tankless water heaters deliver hot water on demand, which saves energy and extends the lifespan of the unit. When paired with ENERGY STAR-rated appliances—like refrigerators, washers, and dishwashers—they can make a strong impression on buyers who are looking for a more efficient, lower-cost home.

These upgrades signal that the home has been well cared for and updated for modern living.

EV Charging Stations

With electric vehicles on the rise, having a Level 2 charging station installed in the garage or driveway can give your home an edge over similar listings. It is a relatively small investment that appeals to a growing segment of eco-conscious buyers.

In some markets, this feature is no longer considered a luxury—it is a smart, forward-thinking addition that can sway decisions in competitive neighborhoods.

Sustainability Sells

Today’s buyers are looking for homes that align with their values and lifestyles. Sustainable upgrades can reduce ownership costs, improve comfort, and help protect the environment while increasing property value.

As your real estate agent, I can help you identify which green features will give you the best return on investment and appeal most to buyers in your local market. Let’s make your home both smarter and greener.

Understanding the Process of Selling a Home As-Is

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Selling a home as-is can be a practical option for homeowners who want to avoid making repairs before listing. However, understanding what it means to sell as-is, and how it affects the process, is essential for a smooth transaction. This approach can attract certain buyers, but it also requires clear communication and realistic expectations.

What Does Selling As-Is Really Mean?

When a home is sold as-is, the seller is stating upfront that they will not make any repairs or improvements before the sale. The home is offered in its current condition, and the buyer agrees to accept it that way.

This does not mean the seller can hide problems. In most states, sellers are still required to disclose known issues, such as roof leaks, foundation problems, or pest damage. Transparency is key to avoiding legal complications later.

Why Homeowners Choose to Sell As-Is

There are many reasons a seller might choose to list a property as-is. Some sellers are dealing with financial challenges and cannot afford to make repairs. Others may have inherited a home they do not wish to renovate. In some cases, sellers are simply looking to move quickly and want to simplify the process.

Selling as-is can save time and effort, but it often comes with trade-offs, including a lower sale price and a smaller pool of interested buyers.

What Buyers Expect in an As-Is Sale

Buyers who pursue as-is properties usually understand that repairs may be needed, but they still want to know what they are getting into. That is why home inspections are still a major part of as-is sales. Buyers may still conduct an inspection, not to negotiate repairs, but to decide whether to move forward.

An as-is sale does not mean buyers have no rights. If the inspection reveals serious issues the buyer was not aware of, they can still walk away during the inspection period, depending on the terms of the contract.

Pricing the Property Correctly

Pricing is critical when selling as-is. Because buyers expect to invest in repairs, the asking price must reflect the home’s current condition. Overpricing an as-is home can result in it sitting on the market too long, which may raise red flags.

A real estate agent can help analyze local sales of similar as-is homes, provide a realistic price range, and help present the home in a way that highlights its potential.

Being Prepared and Staying Honest

Selling as-is does not have to be difficult. With proper preparation, honest disclosures, and the right pricing strategy, sellers can attract serious buyers who are ready to take on a property in its current state.

As a real estate agent, I guide sellers through each step of the as-is process to ensure their legal obligations are met and their expectations are aligned with the market. For the right seller, this can be a smart way to sell quickly and move forward.

The Importance of a Home Inspection Before Purchasing

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Buying a home is one of the biggest financial commitments most people make in their lifetime. While the process can be exciting, it is also full of important steps that protect your investment. One of the most critical yet sometimes overlooked steps is the home inspection.

Uncovering Hidden Issues

A home may look perfect on the surface, but only a thorough inspection can reveal what is going on behind the walls, under the roof, or in the foundation. A certified home inspector checks the major systems of the home, including electrical, plumbing, HVAC, and structural components. These findings help you understand what repairs may be needed and what kind of maintenance to expect.

Without a home inspection, buyers run the risk of moving into a property that needs thousands of dollars in unexpected repairs. This could quickly turn your dream home into a costly burden.

Leverage for Negotiation

The results of a home inspection report can be used as a negotiation tool. If the inspection uncovers issues, buyers may ask the seller to make repairs or offer a credit at closing. In some cases, the seller may agree to lower the purchase price.

Even if the issues are minor, knowing them in advance gives buyers a more complete picture of the property and a better position to make informed decisions. In a competitive market, some buyers may consider waiving the inspection to strengthen their offer, but that can lead to major regret down the line.

Peace of Mind and Long-Term Planning

A home inspection offers peace of mind. It confirms that you are making a sound investment and gives you confidence moving forward with the purchase. Even if the report lists only minor issues, it helps you understand how to maintain the home over time.

For example, the inspector may note that the water heater is working but nearing the end of its lifespan. This does not have to be a deal-breaker, but it gives you time to budget for a future replacement.

Protecting Your Investment

Buying a home without an inspection is a gamble. A few hundred dollars spent on an inspection can save thousands later and may even prevent you from buying a property that is not safe or structurally sound. It is one of the smartest steps you can take to protect yourself and your future.

As a real estate agent, I always recommend a full inspection to my clients, regardless of the home’s age or condition. It is not about slowing the process down, it is about making sure you are fully informed and protected every step of the way.

What’s Ahead For Mortgage Rates This Week – August 4th, 2025

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There were several notable releases this last week, with the largest being the PCE Index — the Federal Reserve’s preferred inflation indicator. The PCE Index may be the more accurate indicator going forward, as data collection for the Consumer Price Index has been recently cut, thereby reducing its reliability. As expected, the inflation numbers have been steadily rising with the PCE Index, indicating that impacts from the tariffs are now filtering into prices for both producers and consumers.

As a follow up, Personal Income & Spending has had a light upturn after the initial panic with the tariffs. Lastly, the job numbers from last week have been unexpectedly weak, showing a slow down of the economy overall due to many factors.

PCE Index
A key measure of inflation posted the biggest increase in four months in June as the delayed effects of higher U.S. tariffs began to filter through the economy, raising questions about whether the Federal Reserve will cut interest rates soon. The PCE index, the Fed’s preferred inflation gauge, rose 0.3% last month, the Bureau of Economic Analysis said Thursday. It was the biggest increase since February.

Personal Spending & Income
Americans spent more money in June after U.S. trade wars began to simmer down, but they were cautious spenders amid all the turmoil caused by the Trump administration’s tariffs. Personal spending increased 0.3% last month, the government said Thursday, and partly recovered from a soft patch in May and April.

Employment Reports
The U.S. only added 19,000 jobs in May compared to an initial report of 144,000, and only 14,000 in June after an initial report of 147,000, according to the BLS. Those two paltry totals, plus a July jobs gain of 73,000, means the U.S. added just 106,000 jobs over the past three months.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw a decrease of -0.02% with the current rate at 5.85%
  • 30-Yr FRM rates saw a decrease of -0.02% with the current rate at 6.72%

MND Rate Index

  • 30-Yr FHA rates saw a decrease of -0.17% this week. Current rates at 6.22%
  • 30-Yr VA rates saw a decrease of -0.16% this week. Current rates at 6.24%

Jobless Claims
Initial Claims were reported to be 218,000 compared to the expected claims of 222,000. The prior week landed at 217,000.

What’s Ahead
Next week will be a fairly light week, with the most significant releases being the Trade Balance as well as the Services PMI reports.

The Top Home Buying Regrets and How to Avoid Them

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Purchasing a home is one of the most important financial and emotional decisions most people will make. While it can be exciting, it can also lead to disappointment if key factors are overlooked during the process. As a real estate professional, I often hear from buyers who wish they had done things differently. Below are the most common home buying regrets and what you can do to avoid them.

1. Underestimating Total Costs
One of the most common regrets is failing to account for the full cost of homeownership. Many buyers focus solely on the mortgage payment, overlooking additional expenses such as property taxes, insurance, maintenance, and utility bills. These costs can add up quickly and impact monthly budgets.
How to Avoid It: Ask your real estate agent and lender to provide a complete cost breakdown before you commit. Budget for regular maintenance and set aside funds for unexpected repairs.

2. Buying Too Quickly
In competitive markets, it is easy to feel rushed into making an offer. Some buyers later regret not taking enough time to research the neighborhood, inspect the property thoroughly, or weigh all their options.
How to Avoid It: While acting quickly is sometimes necessary, do not skip due diligence. Review inspection reports carefully, visit the home at different times of day, and talk to neighbors if possible.

3. Choosing the Wrong Location
Buyers sometimes fall in love with a home and overlook the location. Later, they may find the commute is too long, the school district does not meet their needs, or the neighborhood does not feel like home.
How to Avoid It: Location is one of the few things you cannot change. Make sure to consider your lifestyle needs, future plans, and local amenities before making an offer.

4. Settling on Size or Layout
Another common regret is buying a home that is either too small or not well suited for the buyer’s long-term lifestyle. It might seem like a smart compromise at the time, but living with limited space or an awkward floor plan can quickly become frustrating.
How to Avoid It: Think ahead. Will the home still work for you in five years? Consider growing families, work-from-home needs, or aging in place. Prioritize layout and functionality over cosmetic finishes.

5. Skipping a Home Inspection
In hot markets, some buyers waive the home inspection to make their offer more competitive. Unfortunately, this can lead to major regrets if serious issues go unnoticed.
How to Avoid It: Always have a professional home inspection, even if you need to shorten timelines. An inspection provides peace of mind and can uncover issues that may affect your decision or future expenses.

Home buying should be a rewarding experience, not one filled with regrets. By planning ahead, asking the right questions, and working with a trusted real estate professional, you can make confident decisions that lead to lasting satisfaction.

How to Buy a Home Before Selling Your Current One

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Buying a new home before selling your current one can feel like walking a financial tightrope. While it allows for a smoother transition and avoids the need for temporary housing, it also requires thoughtful planning and the right strategy. If you are considering making a move without selling first, here are key factors to understand and steps to take to make the process work for you.

Assess Your Financial Position
The first and most important step is to review your financial situation in detail. Can you afford to carry two mortgages, even for a short time? Speak with a lender to determine how much home you can qualify for while still owning your current property. A strong credit profile, steady income, and manageable debt will be essential. Some buyers use savings, a bridge loan, or a home equity line of credit to help fund the purchase before selling.

Consider a Bridge Loan or HELOC
A bridge loan is a short-term loan that allows you to use the equity in your current home to fund the down payment on your next home. While convenient, bridge loans tend to come with higher interest rates and fees, so it is important to review terms carefully. A home equity line of credit (HELOC) is another option if you plan ahead. This allows you to borrow against your existing equity, often with more favorable terms, but must be set up before your current home is listed.

Get Your Current Home Market-Ready
Even if you are buying first, preparing your current home for sale in advance is crucial. Complete any necessary repairs, declutter, and stage the property so that it is ready to be listed quickly. A home that is move-in ready can sell faster and help reduce the amount of time you carry two homes. You can also consult with your real estate agent about pricing strategies and local market timing.

Make a Contingent or Extended Closing Offer
In some cases, you may be able to make an offer on a new home that is contingent on the sale of your existing one. This can protect you from having to own two homes at once, although sellers may be less inclined to accept contingent offers in a competitive market. Another approach is to negotiate a longer closing timeline, giving you extra time to sell your current home before closing on the new one.

Work With the Right Real Estate Professionals
Successfully buying a home before selling requires expert coordination. A knowledgeable real estate agent can help you evaluate timing, negotiate contract terms, and connect you with lenders who offer creative financing options. Working with a professional who understands both the buying and selling process will reduce stress and improve your chances of a smooth transition.

While buying a home before selling your current one comes with challenges, it can be done successfully with the right financial preparation and professional guidance. Whether you are upsizing, downsizing, or relocating, thoughtful planning will help you move forward with confidence.

How Earnest Money Protects Both Buyers and Sellers

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What Is Earnest Money?
Earnest money is a good faith deposit that a buyer submits shortly after their offer on a home is accepted. It is typically held in an escrow account by a third party, such as a title company or real estate brokerage, until the transaction is complete. This deposit shows the seller that the buyer is serious and financially prepared to proceed with the purchase.

The amount of earnest money can vary depending on the market and the price of the home, but it generally ranges from one percent to three percent of the purchase price. In more competitive markets, a higher deposit may help strengthen a buyer’s offer.

Why Does Earnest Money Matter?
Earnest money is important because it helps protect both parties in a real estate transaction. For the seller, it offers reassurance that the buyer is acting in good faith. Accepting an offer means taking the property off the market, and the earnest money deposit helps compensate the seller if the buyer backs out without a valid reason.

For the buyer, it shows commitment and increases the likelihood that the seller will accept their offer, especially when multiple offers are on the table. Once the transaction is completed, the earnest money is usually applied toward the buyer’s closing costs or down payment.

What Happens If the Deal Falls Through?
Whether or not the buyer gets their earnest money back depends on the circumstances and the terms outlined in the purchase agreement. If the sale is canceled for reasons that are covered by contingencies, such as financing issues, an unsatisfactory home inspection, or problems uncovered during the appraisal, the earnest money is typically refunded to the buyer.

However, if the buyer simply changes their mind or fails to meet agreed-upon deadlines, the seller may be entitled to keep the earnest money as compensation for the time and opportunity lost.

How Buyers Can Protect Their Earnest Money
To protect their deposit, buyers should work closely with a real estate professional to ensure all contract terms, timelines, and contingencies are clearly outlined and understood. It is also essential to stay on top of deadlines and communicate proactively throughout the process.

A well-written contract, combined with guidance from a trusted real estate agent, helps avoid misunderstandings and keeps both parties on track to a successful closing.

Earnest money may only be a small percentage of the total cost of a home, but it carries significant weight in a real estate transaction. Understanding how it works, when it is refundable, and why it matters can give buyers peace of mind and a stronger position in a competitive market.

The Most Important Rooms to Focus on When Buying a Home

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When searching for a new home, buyers often get caught up in curb appeal, square footage, or how recently the roof was replaced. While those details are certainly important, focusing on the most impactful rooms inside the home can help determine whether a property will truly meet your needs and lifestyle. Here are the key rooms to evaluate carefully when buying a home.

The Kitchen: The Heart of the Home
For many buyers, the kitchen is the most important room in the house. It is not only where meals are prepared, but it often serves as a central gathering spot for family and guests. Consider the layout, counter space, storage, and the condition of the appliances. Is there room to cook comfortably? Can multiple people move around easily? Also, pay attention to the quality of the cabinetry and flooring. Renovating a kitchen can be expensive, so it is worth evaluating whether the current setup meets your expectations.

The Living Room: Where Life Happens
The living room is where most daily activities occur, from relaxing after work to hosting guests. Look at the size of the room, the natural light, and the layout. Is there enough wall space for your furniture? Can the room accommodate your current lifestyle, whether that includes movie nights, kids’ toys, or space for pets? A functional and inviting living room can make a house feel like a home from day one.

The Primary Bedroom: A Place for Rest
Do not overlook the primary bedroom, as it is the one place in your home meant to offer peace and privacy. Size matters here, especially if you have large furniture or plan to add a seating area or workspace. Closet space is another essential factor. Walk-in closets or built-in organizers are often high on the wish list for buyers. Think about the windows, the noise level, and the proximity to the bathroom or nursery if needed.

Bathrooms: Function Over Flash
Bathrooms should be comfortable, clean, and functional. The number of bathrooms often plays a role in resale value, but layout and condition are just as important. Check for proper ventilation, water pressure, and overall upkeep. A beautifully remodeled bathroom is a plus, but even an older bathroom can work if the space is well-designed. Pay attention to how many people will use each bathroom daily, and if the home has a convenient half bath for guests.

Bonus Rooms: Prioritize Your Lifestyle
Finally, think about any extra spaces that might be important to you. A home office, laundry room, or finished basement could make a huge difference depending on your daily routine. Focus on rooms that support your lifestyle rather than being swayed by trendy upgrades or decor that can be changed later.

While it is easy to be swayed by surface details, focusing on the functionality and comfort of key rooms will help you make a more confident and informed home purchase. Always picture yourself living in the space, and prioritize the rooms where you will spend the most time.

What’s Ahead For Mortgage Rates This Week – July 28th, 2025

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Very little was released this week due to the major inflation data releases from the previous week. The Leading Economic Index was the most significant—and only—impactful release this week, showing a further decline in overall sentiment about the current economic situation. The majority of the decline was largely driven by expectations for business conditions. The decline was faster than expected, enough to warrant continued monitoring of the Leading Economic Index going forward.

Leading Economic Indicators
The Conference Board Leading Economic Index for the US declined by 0.3% in June 2025 to 98.8, after no change in May (revised upward from -0.1% originally reported). As a result, the LEI fell by 2.8% over the first half of 2025, a substantially faster rate of decline than the -1.3% contraction over the second half of 2024.

Primary Mortgage Market Survey Index

  • 15-Yr FRM rates saw an increase of 0.05% with the current rate at 5.87%
  • 30-Yr FRM rates saw an increase of 0.01% with the current rate at 6.74%

MND Rate Index

  • 30-Yr FHA rates saw no change for this week. Current rates at 6.39%
  • 30-Yr VA rates saw no change for this week. Current rates at 6.40%

Jobless Claims
Initial Claims were reported to be 217,000 compared to the expected claims of 227,000. The prior week was 221,000.

What’s Ahead
Personal Income & Spending and PCE Prices will lead the way for data releases next week. Followed up by the Nonfarm Payrolls giving a strong indicator of where the economy is headed for the average consumer.