Posts in category 'Buying A Home'
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30
You Can Refuse to be Discharged at a Hospital
On one Friday night about 8 pm a neighbor, I'll call Anny, called me. Anny's mom was in the hospital and they were releasing her that night. The hospital still didn't have a diagnosis as to what was wrong with her mom nor her treatment. Still, the hospital said that Anny's mom couldn't go home, nor had they identified a bed available at a rehab center. Anny was frantic and didn't know where to turn. Should Anny take her mom to HER house? Could her mom go back to the Independent Living Facility where she lived?
I don't know why hospitals seem to try to release patients on a Friday night. As a rule, I'd advise anyone not to accept being released on ANY night, much less Friday. Once it is agreed you are being released, it can take 5 hours or more for a patient to actually leave the building. Would you really want your Mom getting in a car after midnight to be transported somewhere else? Or would there...
17
4 Common Real Estate Myths
Real estate is an industry full of myths floating around on the internet, in the neighborhood, and on the real estate market. It pays to be an informed consumer who is wary of the misconceptions. A buyer or seller is bound to get a lot of advice from friends and family who want to help. Some advice is useful, while other information can be misleading. Here is a rundown of the 4 most common real estate myths and why you should avoid them:
- "You don't need a real estate agent"- There is a school of thought that believes that you can save money on the realtor commission and sell the house yourself while raking in a profit. Even if you forgo a seller's agent commission you will still need to pay for the buyer's agent commission, essentially shorting yourself in the process. Some people risk to deal with a For Sale by Owner (FSBO) which opens the transaction for a lot of things that can go wrong. Spare yourself the headache and the paperwork, hire a professional real es...
14
Buying a Home with a Real Estate Wish List
The real estate "wish list" is something familiar to every real estate buyer and their realtor. Often, it holds within it a dream of homeownership, a vision of a lifestyle, and promise of happiness. In short, the "wish list" is both rational and emotional. The National Association of Realtor's did a survey that showed that most home buyers let go of something on their wish list, only a third kept everything on the list in their purchase. So, how to navigate the home buyers wish list in reality?
A good way to start is get the pre-approval for your mortgage so you know what kind of home is in your price range. Then, it's time to filter you search. Do you need the property to have a pool or could you do without this feature and still enjoy using the outdoor space in the house? Are granite countertops absolutely necessary to be happy with the property? Will proximity to the beach be a make or break or a negotiable? It is important to give thoughts to the parameters of your visio...
12
How to Buy Successfully in a 2017 Seller’s Market with Low Inventory
The internet news have been in a frenzy over the challenges home buyers will face in the real estate market this year with record low housing inventory. According to the National Association of Realtors, the number of "for sale" listings fell to the lowest point in December 2016 since 1999. While an average balanced market has 6 months of inventory, sales at this fast pace could be gone in about 3 months. For the first time home buyers including millennials, the news is even worse with entry-level homes becoming more and scarce on the market. The first time home buyer currently makes up less than a third of the market, when historically they have been at 40%.
This poses a problem for the home buyer who is facing tough competition in a hot market, and certain conditions will make a difference. The most favored buyers act fast and pose smaller risk to the seller. The buyers who are pre-approved for a mortgage, have more cash for a down payment, and no contingencies are at an a...
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