The terminology involved in the real estate market can be vexing for the newcomer, but if you’re getting prepared to buy a home, there are a few choice words you should take some time to learn. While it’s hard to learn the ins and outs in one article, here’s a place to begin with five terms you may be hearing a lot of in the future.

Amortization Period

It may sound like a very fancy term, but the amortization period or mortgage term is simply the length of time it will take you to pay off your mortgage loan by monthly mortgage payments. While 25 years is the standard amortization period, it varies from lender to lender.

Fixed Rate Mortgage

A fixed rate mortgage is one of the interest rate options you’ll have which involves a stable interest rate that remains unchanged. While this means your monthly payment will stay the same each month, it can also mean a higher amount paid overall since your fixed rate may be higher than the market rate over time.

Adjustable Rate Mortgage

Another option when it comes to mortgage interest rates is an adjustable rate, which means that your monthly payment will fluctuate along with the prime market rate. While this can provide a sense of insecurity since your mortgage payment will shift each month, it can end up being more economical than a fixed rate.

Closing Costs

Buying a home can cost enough with the loan, the down payment, and the interest, but closing costs will also be a part of the housing costs. Closing costs generally range anywhere from 2-5%, they include items like loan administration costs and title insurance costs that come part and parcel with the mortgage.

There are many terms in the world of real estate, but by making yourself aware of a few and doing your research, you can begin to understand what they mean for you. If you’re ready to invest in a home, contact your local real estate professional for more information.

For many homeowners who are selling in today’s real estate market, pinching every penny can be important. They may be considering opting out of using a real estate agent and going with the DIY approach. However, there are many things an agent can do for you in a hot market that is worth the money. If you’re wondering how a real estate agent can help you, here are some things to consider.

Understanding The Neighborhood

It’s possible that you know your neighborhood quite well and are aware of the selling prices of many homes in the area. However, an experienced agent will have a good grasp on the history of your neighborhood and has probably sold a house in your area before. While research is great, prior knowledge can give them a leg up in determining exactly how you can price your house for maximum success. Instead of having to guess at what will work, they will have the know-how to make a sound judgment.

Marketing Know-How

Most real estate agents have dealt with the ups and downs of the market, and this generally means that they’ve learned how to succeed even when the chips are down. When it comes to marketing, the right agent will have the contacts and the savvy to determine the best approach for selling your home. Whether it involves posts on social media sites like Facebook and Twitter, an online website or an Open House, an agent will know how to appeal to your ideal buyer and garner you the best offer around.

Closing The Deal

With so much money involved for both the seller and the buyer, the likelihood of getting your asking price right off the bat is not high. In situations like this, it’s more than a little helpful to have a real estate agent around who understands the negotiating process and how to close the deal. Not only will they be able to advise you on what your home is worth and what it can garner, they can also advise you on when you should consider a lower offer.

It may be tempting to go it alone when it comes to selling your house, but the right agent can be instrumental in marketing your home and getting you the price you’re asking for. If you’re currently preparing to put your home up for sale, contact your local real estate professional for more information.

With the popularity of living in high style, many people are considering life along the golf course as a way to get in the game and dwell in a picturesque place. While there are many benefits to this kind of living, there are also a number of drawbacks to consider before investing. If you’re wondering whether or not a home on the green is a possibility for you, here are some things you’ll want to consider before making the big purchase.

Close To The Course

If you happen to love the game and are an avid golfer, living along a golf course can be one of the best ways to inspire you to improve your game and get out on the green consistently. With a course just a short walk away, it may seem like a matter of time before you’re a pro at the game! However, if you don’t absolutely love golfing and are simply a novice who wants to try it out, it’s better to decide if you truly love the sport before it’s staring you down in the backyard.

Always A Picturesque Scene

From city life to the press of nature, everyone has an aesthetic they like that makes them feel at home, and there’s no place like life along the course to get a charming view. However, given the well-groomed greens of a course, it may also get a little bit boring for those who prefer the wilds of nature or a more urban lifestyle. While it goes without saying that a golf course provides an idyllic setting, make sure you determine beforehand if you’ll love it over time.

The Potential For Damage

Living along a golf course can certainly provide a variety of entertainment throughout the day, from random visitors to local tournaments, but golf balls in close proximity can come with damage. While your home will be off-course and the likelihood of damage is minimal, it’s important to consider how much of a risk you’re willing to take on your home before you decide to invest in this kind of property.

Life on the golf course may seem ideal for enthusiasts of the sport, but it’s important to consider if living along the green will be the right environment for you before taking the leap. If you’re currently considering purchasing a home on the green and are looking into options, contact your local real estate professional for more information.

Without a doubt, it can be both overwhelming and exciting to find your dream home and be able to put the money down for it. However, there are a lot of things to know before signing on the dotted line so you can avoid buyer’s remorse. Instead of going it alone, here are a few tips to keep in mind before you decide to commit to your new home.

A Good Agent Is Important

Many homeowners want to find the right place on their own, but having an agent along to assist you in the process can go a long way towards finding your ideal home at the right price. Instead of risking it, choose an agent that comes highly recommended and has an abundance of experience in the business.

Is The Price Right?

It’s easy to be taken in by a beautiful home, but before putting money down you’ll want to calculate your debt-to-income (DTI) ratio to make sure it’s within reach. You may feel like you can make it work, but paying a too-high mortgage will become a drain over time and may ruin the happiness of your home investment.

What’s The Potential?

When it comes to first-time buying, many potential homeowners go into it with unrealistic expectations. However, demanding too much of your investment can mean you miss out on the gems that have a lot of hidden potential. Instead of saying ‘no’ right away, consider what you can improve for little cost.

Researching The Neighborhood

The focus for many homeowners is definitely the house, but ‘location, location, location’ is a cliche; for a reason. Instead of focusing only on your home, ensure you’ll be living in a neighborhood where you can feel safe and will have access to all the amenities you need.

Investing In An Inspector

A home inspection may feel like a formality, but it’s important to have the right inspector so they will notice maintenance items that can hugely impact your finances. While little items that need to be fixed-up are not a big deal, issues with the foundation or the roof can cause major grievances if they’re not detected.

There are a lot of things to keep in mind when it comes to buying a home, but by doing your research and being aware of your financial outlook, you’ll be well on your way to a good investment. If you’re currently in the market for a home, please contact your trusted real estate professional for more information.

With low interest rates and uncertainty as to where the real estate market will be in the next six months, many people are opting into ownership and investing in a home. Interestingly, according to the National Association of Realtors, approximately 17 percent of homebuyers in the United States last year were women, which is a much higher percentage than the 7 percent of single men who invested in a home. While the statistics may be interesting enough on their own, here are some of the reasons why women may be opting in.

Single Parent Security

The numbers don’t lie, and it’s a fact that there are a much higher number of single mothers in the United States than fathers, which makes home ownership that much more of a benefit. With low interest rates, it’s common sense that many single mothers will be flocking towards the housing market to find stable housing for their family in a market that may fluctuate in the coming months.

Making A Lifestyle Choice

The days are long gone of women having to invest in a home when they get married, and for many women being single is a very popular lifestyle choice. This means that many single ladies are choosing to invest on their own terms and at their own time so that they can reap the benefits of home ownership. As Jessica Lautz of the National Association of Realtors says, “They really value home ownership, and they’re willing to give up a lot to have a home of their own.”

It’s In The Numbers

There are certainly more than a few reasons why single women are flocking to the real estate market, but demographics are changing rapidly. While it was once the case that most people were married or would marry, more single women are opting out of marriage and opening up a wider market for single-person home purchases. Given the low interest rates and the increasing number of women choosing to be single, purchasing a home offers a solid bet and a financial boon.

With a home offering up the benefit of security and the advantage of being a good financial choice, it’s no surprise that more and more women are turning to home ownership on their own. If you’re contemplating purchasing a home of your own, contact your local real estate professional for more information about opportunities in your area.

A home inspection may be one of the last things that needs to be done before the deal is sealed. However, it’s very important to have a proper inspection done so that you can ensure you’re offering price is appropriate for the home you’re getting. If you’re prepping for an inspection soon, here are some things you’ll want to consider beforehand.

Choose A Good Inspector

Like a good agent, the right inspector is going to have expertise in what they do and know what to look for. They will not only find the small fix-ups, they’ll be able to highlight the potentially huge issues that may arise down the road.

Prepare Your Papers

Your inspector may be able to do their job well on their own, but if you’ve noticed any issues when you’ve visited the house, it’s important to address them. While they may amount to nothing, an inspector will be able to clear up any confusion.

Ask The Questions

Whether you’re experienced with real estate or not, ask the questions you want to ask whether or not they make you feel like a novice. Even if the answer is simple, it will give you the information you’re looking for.

Get The Lowdown

It might seem like a bridge too far, but talking to neighbors in the area can give you a good sense of the overall upkeep of the home. While it’s unlikely you’ll get any unfortunate tales, people in the area may be able to illuminate you on the house’s history.

Partake In The Inspection

It’s good enough for many a homeowner to get a written report, but going along to see the house can facilitate conversation and may give you insights into what to watch out for. It may also mean you have a clearer idea of any potential issues.

Facilitate The Discussion

In the event that there are significant issues with the home, it may be worth talking with the inspector about dealing directly with the contractor. While this may or may not be necessary, it’s a good way to ensure any problems will be effectively communicated and can be rectified.

A home inspection may be par for the course, but by asking the right questions and being involved you can ensure you’ll get the most out of your inspection. If you’re currently in the market for a home, contact your local real estate professional for more information.

Most people peruse the real estate market for a while before they bite down and decide to invest in a home. However, whether you’re in a rush or you think you’ve found the ideal place, it’s possible you may be ready to put in an offer on the first visit. If you’re trying to determine how you can get the home you’re looking for the first time around, here are a few things to be aware of when going in.

Are There Any Maintenance Issues?

If you’re planning on putting in an offer right away, it’s imperative to take a look around at any maintenance issues that jump out. You may not be able to notice all of the things that might be in need of fixing, but watch out for things like peeling paint, windows drafts and small fix-ups that haven’t been completed. This will give you a sense of what the overall home maintenance is like and may be a good sign of whether the home is a solid bet.

What Are You Willing To Pay?

Many people have an idea of what they want to spend, but it often flies out the window as soon as they see their dream home. It’s important, however, to keep in mind what kind of offer you want to put down and not stray too far from it. This will ensure that you pay a reasonable price for your home and won’t be stretching your monthly budget. It’s just important to be ready to negotiate!

What Do You Really Want?

It’s easy to get swept away by the excitement of investing in a home, but if you’re planning to buy you’ll need to know exactly what you’re looking for so you can avoid buyer’s remorse. Instead of making a split decision, write down a list of the things that you absolutely must have and the things you can do without. If you find a great place, you might be willing to let go of them in the moment, but review the list before making an offer to ensure it’s the right choice.

There are a lot of factors that go into buying a home, but if you’re prepared to purchase on the first visit it’s important to determine beforehand what you really want and the price you want to pay. If you’re currently searching for a home, contact your trusted real estate professional for more information.

Many homebuyers struggle with finding a home that is within their price range, but many of those perusing the market also struggle when it comes to the search. If you’re currently in the real estate market and are having difficulty finding a good selection of homes, here are some ways to expand your search so you can find an opportunity you’re prepared to invest in.

Look Over The Old Listings

Whether you do it on your own or enlist the help of your real estate agent, it’s worth looking through the old listings to determine if any old opportunities are still available. There may be many formerly listed homes that have since sold, but homes that have lingered on the market may be open to offers; they may also be more aligned with the current market rates. Instead of taking the listings for granted, search for old opportunities that might turn up something good!

Consider Other Marketing Strategies

The market has changed in recent years, but the way that people choose to sell their home has changed along with it. While it’s still possible to see a sign on the front lawn or find a home on a real estate agent’s page, social media has become a very popular way to buy and sell. Aside from looking through the listings, consider searching Twitter or Facebook posts for homes that are for sale in your area. While you may not find your dream home, it’s entirely possible that an interesting detail or neighborhood that might have been missed will capture your attention.

Keep An Eye On Expensive Listings

Most homebuyers will immediately write off a listing that is out of their price range, but homes that are overpriced will often sit on the market. Fortunately, for many homeowners, this is something they can use to their advantage. Instead of avoiding pricey homes altogether, make sure to keep tabs on ones that are a little bit out of range but manage to pique your interest. It’s entirely possible that they won’t come down in price, but if they do it may be well worth the wait.

Many homebuyers struggle to find a home in a tight market, but by keeping an eye out on listings and considering all of the post-modern strategies for marketing, you may be able to find your dream home. If you’re currently searching for a home, contact your trusted real estate professional for more information.