Best Real Estate Articles November 2022
The current real estate market isn’t what it used to be all the way back in June. Not even six months ago, it was a strong sellers’ market. Conversations were filled with questions like: “When are you taking offers?” “How many offers do you have?” “Are there any contingencies?”
Now, the questions involve inspections, contingencies, and credit backs.
Home Inspection Contingency: Examples, Clauses, and Addendums Explained
Bill Gassett’s focus for this article is home inspection contingencies. A few months ago, a home inspection contingency could keep an offer from being accepted.
Today, this Massachusetts realtor explains why this particular inspection is worth the money. In addition, Bill includes details on what an inspection includes, examples for proper wording of a contingency, and even items the home inspection doesn’t cover.
It’s important to realize that determining the health of your new home involves more than the property inspection. There are a variety of options depending on the house itself and its location. This article will help you on your way to understanding how to insure you have a comprehensive look at the property.
USDA Minimum Property Requirements
In heavily populated cities, a USDA mortgage is not an option. However, if you’re in an area where a USDA mortgage is available to you, they’re definitely worth your time to investigate.
Luke Skar with Madison Mortgage Guys provides you with the minimum property requirements. Surprisingly, there are some interesting conditions to someone who’s never lived in rural America.
The size, condition, and location of the property are all prerequisites to approval. If you don’t keep an open mind, these loans can seem restrictive. Nevertheless, before you rule USDA loans out completely read over this informative article.
What Higher Mortgage Rates Mean for Sellers
Despite the news being filled with reports of what higher interest rates mean for homebuyers, they do affect sellers. What do higher mortgage rates mean for those about to sell their properties?
In addition, Paul Sian of Cincinnati and Northern Kentucky Real Estate explains how mortgage payments are calculated and why the real estate market has shifted.
Certainly you might be asking yourself what to do. Are you considering waiting? Conversely maybe you should jump in now. See what Paul has to say to help you figure out your next move. More information is helpful when making such an important decision.
How Will Your Home Compete
Selling your house is more than dropping a sign in the yard these days. Your “product” is in competition not just with your next door neighbors houses but with houses all over the area. In a slower market, homebuyers are more selective and contemplative. They don’t feel the same urgency to buy. They actually see value in a “wait and see” approach.
With that in mind, your approach to selling might have to be adjusted to the new reality. Price, as always, is the prime motivator in getting buyers off the couch and over to your house. That’s where your work begins. Now that they’re in front, you’re going have to make them want to get out of the car to go inside. To start with, we’re talking curb appeal.
Kevin Vitali, Essex and Northern Middlesex Counties, Massachusetts realtor, describes what to consider when determining if your home will compete at the top level against its competition.
With All the Talk about Inflation is it Still a Good Time to Buy a House?
To know the answer to that, you’re going to have to ask yourself some questions. Those answers will tell you if it’s the right time to buy a house. As much as we’d all like to win the lotto, we’d like to time the real estate market perfectly. Doing that has better odds than winning Powerball but it’s still a huge risk. The time to buy is when you’re ready. So is that now?
I share five questions to get you started in the direction of determining whether now is the time for you. You can get the input of advisors like your family, or even your realtor, but the fact is that only you can make that decision. With some questions, you either are or you aren’t. Other questions are more subjective.
Take some time out of your rush to make a decision. Get out some paper and a pen. Answer these questions. And then write a pros and cons list. Then think about it some more. If you come to the conclusion that it’s the right time to buy, then buy. If you’re not sure or you need to do more research, then you should do that.