As you’ve already read in my column many times recently, conditions are ripe to become a homeowner, and it’s time to determine if you’re ready to make the leap.  While the price of the home is the largest factor, don’t forget about loan fees and closing costs, which add to your total financed amount.

Since banks are stricter in their lending, Step One is to polish up your credit report.  A higher score gives you more power when it comes to negotiating terms and interest rates.

Similarly, a larger down payment will positively affect your mortgage terms and reduce the amount you have to finance.  If you can’t manage 20% down, you will likely have to pay a monthly mortgage insurance premium.

Upon preapproval from a lender, you’ll know how much loan you qualify for, and how much is required for the down payment.  It’s best to secure preapproval before you begin looking at homes, especially since sellers will see your offer as a solid one worthy of consideration.  Talk to a mortgage lender at your bank or give us a call and we can provide you with several in the area.

In addition to newer fees being assessed on loans to less than stellar applicants, there are standard closing costs associated with the purchase, including appraisals, legal fees, credit reports and more.  All are included up front on your settlement statement and some may be negotiable.  Contact one of our REALTORS® today to get the ball rolling and let Don Kingsley Real Estate put you in the driver’s seat of home ownership.

If you are ready to make the move, whether selling or buying, call or stop by our office and I will be happy to share my knowledge with you at no cost or obligation.  If you prefer, you can email me at donkingsley@kingsleyrealestate.com.

After you’ve taken step one to decide to sell your home, step two is usually setting your asking price, striving for a balance between generating offers and receiving top dollar.

Your REALTOR® from Don Kingsley Real Estate will perform a Competitive Market Analysis (CMA) to produce an estimate of your home’s “fair market value,” or the price that educated buyers will pay based on listings and sales of homes similar to yours.  The REALTOR® will provide the information needed to establish a price and together you will agree what that number should be.

In a hot market, you have the advantage, but would still want to avoid overpricing, which is always unproductive.  However, in a neutral or buyers market, you’ll have to be particularly cautious in your approach to setting a price.  Your REALTOR® can tell you what our local market conditions currently are.

In soft markets, price reductions become more common, as well as fewer offers and longer listing periods.  You have to first establish your priority: is it more important for you to sell quickly or to get the most money possible?  Like it or not, one option simply must be more critical than the other.

Have a third party, like your REALTOR®, help you see your home as a commodity, with positive and negative selling points.  Price your home objectively and competitively, be prepared to negotiate to reach an agreement with buyers, and exercise patience as you prepare your move.

For FREE information on selling your home, call us, stop by the office or if you prefer, email me at donkingsley@kingsleyrealestate.com.  I will be happy to provide you with the articles below.  If you need help starting the process, call a REALTOR® from Don Kingsley Real Estate!

- 5 Things to do Before Putting Your Home on the Market 
- Forms You’ll Need to Sell Your Home      
- Simple Tips for Better Home Showings

The question on everyone’s lips is, “When are things going to return to normal in real estate?”  Well, if the “normal” being referred to is the conditions and shady financial dealings that created the artificially inflated markets of five years ago, then we need to be thinking about redefining “normal.”

The bad lending practices of the past are indeed making it more difficult now to secure financing, but try to understand that’s not necessarily a bad thing.  Those days of lower standards and easy money led us into this predicament in the first place.  It’s good for housing and for the economy when banks become interested in whether loans will be repaid.

In the “new” normal, home prices will stabilize, the number of sales will start gaining, and more people will again realize the benefits that homeownership offers, for both personal and financial security.  With historically low interest rates, affordable prices, government incentives, and motivated sellers, the housing market is already experiencing the initial signs of recovery.

All of these factors combine to get first-time buyers excited about a purchase.  As these consumers enter the market, they will trigger other purchases, and the chain of transactions grows.  Expect your REALTOR® to reveal a wide range of affordable choices and guide you toward securing the financing you need to make your dream come true.

For FREE information on buying a home, call us, stop by the office or if you prefer, email me at donkingsley@kingsleyrealestate.com.  I will be happy to provide you with the articles below to begin your search.  If you need help starting the process, call a REALTOR® from Don Kingsley Real Estate!

- Tax Benefits of Homeownership      
- How Big of a Mortgage Can I Afford
- 6 Creative Ways to Afford a Home      
- 10 Questions to Ask Your Lender