Buying During the winter.

Buying a home during the winter months isn’t without its challenges, but also has its advantages.  When buying during the winter there will be less competition from other buyers, since this isn’t the peak buying season, and you will be less likely to get into a bidding war with other buyers.  This also means that you should be able to move in sooner as appraisers and other vendors are not as busy and can get your deal done quicker.  Let us help you get into your new home before the New Year! 

Common Buyers Mistakes

Before closing on your new home, avoid these pitfalls that could derail your home purchase.  Buying big ticket items such as a new car or boat could knock your income to debt ratio out of acceptable range and jeopardize your loan.  Changing jobs before everything is completed can also be a big mistake because lenders take into account how long you have been at your job.  Moving money around between banks or accounts can also cause problems with your loan since lenders will be looking to verify your funds and bank accounts and will require a documented paper trail.

When do I get the Keys?

One of the most frequent questions I get about the home buying process is “when do I get the keys?”  This isn’t a simple question and can have several different answers depending on what was negotiated in your purchase & sale contract.  Often times the closing date and the recording date are confused as being the same.  Closing is typically when you sign your final paperwork and provide funds to the title company.  Recording is when the deed actually records and officially transfers ownership to you unless otherwise negotiated.  It is after it records that.you will most likely receive the keys to your new home. Be sure to ask your REALTOR® when you can expect your keys.

Moving with Pets

Our pets are often overlooked when moving and it can be very hard on them .  Here are some tips for making the move as stress free for them as possible.  If your pets are use to a schedule, try to keep the same schedule as much as possible.  If moving a long distance, have your pets checked out by your local vet and let him know your plans to move.  If your pets are on medication, make sure you have plenty to get you to your final destination and keep them easily accessible.  Keep something familiar out for your pets, such as a blanket or a favorite toy, to comfort them in this new transition.

Seller Paid Closing Cost?

More and more buyers are short the cash they need for the down payment and closing costs. One way to overcome this cash shortage is for the seller to pay a portion of the closing costs. How much the seller is allowed to contribute depends on the type of mortgage loan. When you ask the buyer to pay a portion or all of your closing costs, in essence you are financing the closing costs. This is because the seller’s contribution is typically offset by a higher purchase price. And it is this higher purchase price that is financed with your mortgage loan.

Renting vs. Buying?

The prospect of buying your first home can be an intimidating one! The decision to buy vs. renting is not a simple decision to make. There are many pros & cons for each and all should be evaluated. One factor to consider is how long will you be in your new home? If you plan on being there more than a few years then buying might be right for you. With interest rates still at near all time lows & the market shifting to a buyer’s market, now is the perfect time to start looking for your first home.

Advantages for Renting

• Fixed cost for rent.
• No Maintainece to take care of
• No unexpected expenses.

Disadvantages of Renting.

• You don’t build equity
• Making somebody else’s payments
• No tax advantages.
• Unable to personalize

Advantages of Buying

• Building equity
• Ability to personalize property
• Tax advantages
• Over time property will be completly paid for

Disadvantages of Buying

• Repairs are made by you or paid by you
• Larger initial investment, downpayment

Give us a call at Crane & Associates Realty if you would like help figuring out if buying or renting is best for you!

Do a drive by First!

One of the biggest mistakes that buyers make when looking for a new home, is not becoming familiar with the neighborhood. Before you set up a showing with your REALTOR®, ask for printouts of the listings that match your criteria and include the driving directions. Then take a drive by the properties that are of interest to you and view the home and the surrounding areas. That way you don’t waste everybody’s time, including yours, looking at homes that are in areas that you don’t like.

Buying the first home you see?

The average home buyer will look at 15 homes before they pick one and make an offer. Some people know exactly what they are looking for and others are unsure and figure it out at as they go. If the first home you look at is your dream home, then by all means make an offer on it before somebody else does. If you are unsure of what exactly you are looking for, then continue looking and narrowing down your list of homes that will work for you. Some people just know when they have found their new home, whether it’s the first home or last one that they are shown.

The American Dream!

One of the great freedoms we enjoy in America is the opportunity to pursue the American Dream of owning a home. On July 4th 1776 the Declaration of Independence was adopted declaring our freedom from Great Britain. We continue to enjoy those freedoms today because of the sacrifices made by the men, women & families of our armed services. Now is the perfect time to pursue your dream of owning a home, interest rates are at historic lows and home inventories are up. Have a safe & fun 4th and show your support for our troops!

Home Insurance

Buying a home is more than likely the single biggest purchase you will make in your lifetime. Therefore, it only makes sense to protect that investment by insuring it. There are four types of coverage that are contained in a homeowner’s policy: dwelling & personal property, personal liability, medical payments, and additional living expenses. Make sure to read over each section carefully and know what is or what is not included for each type of coverage. When you are shopping around for your insurance, make sure your values and deductibles are all the same so you can compare apples to apples and pick which insurance company is providing the best deal!