When should you offer over asking price for a home?

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No one WANTS to pay more than the asking price for a home. In fact, most of us cringe even just thinking about the idea. But the fact is, especially in certain markets, paying above the asking price is a reality. So when should you aim high and offer over the listing price? Here are a few scenarios:

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Is now the time to buy a home or keep renting?

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This is a common question no matter what the real estate market looks like, and one that doesn’t always have an easy answer. With today’s seller’s market white hot and little inventory to choose from, it has many potential buyers wondering if it’s the right time to buy.

One of the biggest benefits to being a homeowner is building equity with each mortgage loan payment that you make vs. just giving money to a landlord for rent. However, that doesn’t mean buying is always the best choice. As a renter, you have more flexibility and can avoid many costs that come with owning your own home.

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Virtual Home Tour Must Do’s

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For some, purchasing a new home can be stressful even during the best of times, but add in a global pandemic and navigating the process becomes a whole new challenge. Don’t worry though, with the amazing technology available, buyers and sellers are still making home sales possible, just a little differently, by using virtual home tours in lieu of open houses.

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How to Lose Your Earnest Money Deposit and Ways to Avoid It

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There is a lot of terminology that you hear during the home buying process, and if you plan to purchase a home in the near future, you may have heard the term Earnest Money Deposit. If you haven’t or don’t quite know what it means, you’ll want to read on because it’s pretty important.

Most people must put some amount of money down on a home as a deposit when they submit a bid or offer for the home they want to buy. It’s typically written into the purchase agreement as an Earnest Money Deposit (EMD), or referred to as a good faith deposit, and it lets the seller know you are serious about your bid. This can also make your offer more attractive if there are multiple offers in place.

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“Sale Pending”: Does it really mean SOLD?

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In today’s digital world, we can do just about anything online and that includes searching for your potential dream house. Imagine drinking your morning coffee while clicking through the latest real estate listings and you finally find the perfect house, in the perfect neighborhood, at the perfect price, with everything on your Must Have List. But then you see it… SALE PENDING. UGH! 

Is this a deal breaker?

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How to Notice Signs of a Flipper’s Hasty House Renovations

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It’s Spring and that means an influx of homes will be hitting the real estate market, including homes that were renovated over the Winter by investors or as we like to call them, “Flippers”.

Flippers typically buy homes at a lower price, often foreclosures. Some of these homes need minor cosmetic repairs while others require a complete gut and remodel. They make the homes appealing to a wider pool of buyers who are looking for recently renovated and move-in ready homes. Some flippers are fantastic and do amazing work, while others may, in other words, put a band-aid on bigger issues so you can’t see the underlying problems. 

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What does TLC really mean when used in Real Estate

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If you’ve ever spent some time on sites like Realtor.com or Zillow.com you’ve probably come across a house listing or two that states, the property needs some “TLC”. We aren’t talking about the all women rap group or a TV station, but Tender, Loving, Care. In other words, the property needs some repairs. How much work is needed? Well, there’s no definitive answer, but it could be a lot. Most homes that state they need TLC, or a little elbow grease typically need more than just a coat of paint or new carpeting.

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Common home buying and selling myths unveiled

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When it comes to buying or selling a home, there can be a lot of misconceptions about the real estate process. Friends and family may have advice that’s not accurate or no longer valid – whether solicited or not – if you are buying or selling a home, you’ll most likely hear some of the myths below:

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Finding the right tenant to lease your Commercial Property

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There’s really only one reason to buy commercial property – and that’s to make money. So, finding the right business to rent space from you is critical to your investment and your future. Before you hang that For Lease sign there are a few things to consider making sure you get the most bang for your buck! Continue reading “Finding the right tenant to lease your Commercial Property”

Mortgage Pre-Qualification vs. Pre-Approval – Know the difference!

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Although they sound interchangeable, a pre-qualification and a pre-approval for a loan are two very, very different processes.  Not understanding the difference can often lead to missed opportunities when you are buying a home. Continue reading “Mortgage Pre-Qualification vs. Pre-Approval – Know the difference!”