Even though we have answer to our many real estate questions at our fingertips, the real answer to “why hire a realtor?” is simple. Experience. “Reality” Shows like Property Brothers, Fixer Upper, and many more on TV give viewers an extremely false view of what it’s like to navigate the housing market, whether you’re a buyer or a seller. There are many things that can work out great with DIY tricks, in fact, you can find them on our Tricia’s Tips page, BUT buying and selling your home is not something that often works out well when doing it yourself. Here are just some of the reasons you need a real estate professional in your corner:The Buying &amp; Selling Processes Require Completing Numerous Steps There are actually up to about 230 possible steps that you could run into as you complete a real estate transaction. You’ll need professional help along the way to make sure that your sale is smooth, and you don’t leave a single dollar on the table. You’ll want someone with plenty of experience to help you through it. Negotiation Skills Are Key. In the competitive market we currently find ourselves, having a tough and knowledgeable negotiator on your side could save you thousands, or maybe even tens of thousands of dollars. From drafting the offer to getting a fair appraisal and completing the inspection, there can be many unforseens if you are not experienced in navigating this process. It’s Important to Have an Accurate Value of the Home You’re Buying The internet is flooded with information about home sales, prices, mortgage rates, and many other aspects of real estate, regarding trends, tips, and much more. How do you know what information to trust and what to steer clear from? Not to mention, information that is true in one area isn’t always accurate in another. How do you know that your home is competitively priced, based on home values IN YOUR AREA? Dave Ramsey, advises: “When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.” You need someone who’s going to tell you the truth, based on experience and true knowledge of the market your home belongs to, not just someone who will tell you what they think you want to hear. Bottom Line Today’s real estate market is more competitive than ever. Having an experienced professional on your side will make navigating this process, maybe not quite effortless, but definitely far less stressful than trying to do it alone. Statistics &amp; Information Source: Keeping Current Matters

Why Hire a Realtor? Because Having A Professional on Your Side Makes All the Difference.

<h2>86% of buyers are getting information from a real estate agent!</h2>​Here are three reasons why working with a real estate pro is key: 1. Real Estate Transactions are Not Simple Processes. There’s a lot more to real estate than browsing around online, making an offer, and signing the closing papers. There are actually up to about 230 possible steps that you could run into as you complete a real estate transaction. From coming up with a budget, to submitting an offer, and negotiating your terms, you’ll need professional help along the way to make sure that you get exactly what you’re looking for with terms that you deserve. You’ll want a professional with plenty of experience to help you through it. 2. Negotiation Skills Are Key. In the competitive market we currently find ourselves, having a tough and knowledgeable negotiator on your side could save you thousands, or maybe even tens of thousands of dollars. From drafting the offer to getting a fair appraisal and completing the inspection, there can be many unforseens if you are not experienced in navigating this process. 3. Education Goes A Long Way. The internet is flooded with information about home sales, prices, mortgage rates, and many other aspects of real estate, regarding trends, tips, and much more. How do you know what information to trust and what to steer clear from? Not to mention, information that is true in one area isn’t always accurate in another. And, most importantly, how do you make sure you’re not making an offer so unnecessarily far above the asking price or so low that you’ll take yourself out of the running, completely? The Results Real Estate Team can help with all of these questions! Now that you’ve selected a real estate professional, and hopefully it’s a Results Real Estate REALTOR®, you’ll want to make sure you have a firm grasp on, at the very least, the basics of the homebuying process. Here’s are a couple important questions to think about! 1. How Can I Make Sure I Understand the Buying Process, and How Do I Know What I Can Afford? Before you begin the process of becoming a homeowner, there are a few things that you need to think about and make a decision on beforehand. A few of those things are: how long you plan on living in an area, school districts you prefer, what kind of commute works for you, and how much you can afford to spend. According to ConsumerReports.org: “Financial planners recommend limiting the amount you spend on housing to 25 percent of your monthly budget.” Don’t forget that before you even begin the process of purchasing a home, you’ll need to apply for a mortgage so you know how much you can offer sellers. Mortgage lenders will look into a handful of areas that will be contributing factors to the amount you’re approved for. A big factor is your credit history. Lenders want to see how well you responsibly manage your debt so prior to applying, you’ll want to be sure you’re paying your student loans, credit cards, and car loans on time. 2. How Do I Know How Much I Should Have Ready for a Down Payment? Not only should you calculate what you can realistically afford for a monthly mortgage payment, you should also be sure to come up with a reasonable figure that you can set aside for a down payment. The age-old assumption that you must have 10% down is simply outdated. There are many lenders who will accept as low as 3%, so make sure you shop around! If saving for a down payment is still scary for you, just remember that slow and steady wins the race. This is something that you can start preparing for NOW! A little bit each month goes a long way. You can even set up an auto transfer of funds, monthly, to a separate account so you don’t have to worry about spending it. Bottom Line If becoming a homeowner is important to you, make it an obtainable goal. To do so, be sure to create smaller goals along the way so you don’t get overwhelmed and give up. And don’t forget, Results Real Estate is with you every step of the way! Statistics &amp; Information Source: <a href="https://www.keepingcurrentmatters.com/for-agents/">Keeping Current Matters</a>

How to Make Your Dream of Homeownership a Reality.

Will Forbearance Plans Lead to a Wave of Foreclosures?

As vaccines are administered and travel resumes, many of us are beginning to plan for those long-awaited vacations we missed out on over the past year. Some households are focusing their efforts on buying a vacation home rather than staying in a hotel, too. The National Association of Home Builders (NAHB) reports:
 
 “Second homes (i.e., homes sold to buyers who are not going to occupy the home year-round, but use it as a vacation home, investment property, etc.) account for 15 percent of new single-family home sales.”
 
 It’s not surprising that there’s an increase in demand for vacation homes. The majority of Americans are realizing they prefer to be around small groups, as shown in a recent survey from The Harris Poll:
 
 “Social distancing taught consumers new things about how they like to socialize; (75%) said, ‘during COVID social distancing I realized I preferred smaller social gatherings at home or at friends’ place.’”
 
 Not only are vacation homes seen as a potentially more pandemic-friendly way to travel and socialize, but they can also serve as an extended home-away-from-home. With more Americans being given the option to continue working remotely or retire earlier than expected, vacation homes can be used year-round. The NAHB explains:
 
 “Remote work arrangements have made it possible for some wealthier Americans to move to alternate locations that are not just small, suburban shifts from within their current metro area. More fundamentally, second home demand may also be benefitting by an acceleration of retirement plans, as well as stock market gains.”
 
 Bottom Line
 The demand for vacation homes has increased and will continue to rise as we head into summer. If you own a house in a destination area and have thought about selling, now is a great time to take advantage of today’s high buyer interest. Contact a real estate professional to discuss the opportunities in your local market.
 
 Source: Keeping Current Matters

Why This is a Great Year to Sell Your Vacation Home

Navigating the housing market, whether you’re a buyer or seller, can be overwhelming, especially when you don’t understand a lot of the terms used in the processes. 1. Appraisal Contingency<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">If you think that there’s a chance that the price of the property you’re looking at will change based off the appraisal, then having an appraisal contingency in your purchase agreement would be a good idea. This means you will buy the home only if the home appraisal is equal to or above the sales price.2. Best and Final Offer<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">In the rare case that a seller is trying to avoid a bidding war, they will ask for a “best and final offer”, which gives potential buyers one chance to make, well, their best offer. Once they’ve all been submitted, the seller will choose one and that’s it!3. Escalation Clause<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">If a buyer is set on winning the bid in a “best and final offer” case, they will include an escalation clause which will indicate how much you’re willing to pay over the highest offer submitted.4. Bridge Loan<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">If you’re a buyer who needs a lot of cash on hand and are also in the process of selling your current home, then a bridge loan may be best for you. This is a short-term loan that allows borrowers to buy a new property by using their current home as collateral.&nbsp;5. Debt-to-Income Ratio<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">Debt-to-Income (DTI) ratio is the amount of money being used toward debts (money you owe) and real estate costs (such as taxes and maintenance) in relation to a person’s income.6. Earnest Money Deposit<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">Another name for this is a good-faith deposit, and it shows sellers that a buyer is serious about wanting to buy their house. These funds go toward the down payment and closing costs.7. Highest and Best Offer<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">Not to be confused with best and final, the only real thing in common is that “highest &amp; best” offers come into play when there is a hot property on the market.<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">These are actually used to trigger bidding, as a buyer, if you find yourself in this kind of situation, remember, cash is king! There are a few other factors you can have your realtor check on with the sellers, so you can be closest to meeting their needs with your bid, but ultimately, cash is the biggest factor.8. Pre-approval<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">To be pre-approved means that a lender has guaranteed to give you a specific amount of funds for a mortgage. To a seller, this is proof that you, as the buyer, can actually close on their home.9. Private Mortgage Insurance<p style="box-sizing: border-box; margin: 0px 0px 20px; padding: 0px; border: 0px; outline: 0px; font-variant: inherit; font-stretch: inherit; line-height: inherit; font-optical-sizing: inherit; font-size-adjust: inherit; font-kerning: inherit; font-feature-settings: inherit; font-variation-settings: inherit; vertical-align: baseline; font-family: inherit; font-size: 14px; font-style: inherit; font-weight: inherit;">Many lenders are leery of backing a buyer who can’t come up with a decent size, so Private Mortgage Insurance, or PMI, is for when buyers are only capable of putting down less than 20% of the home’s value. If they default on their loan, PMI will protect the lender.

9 Real Estate Terms to Know When Buying or Selling

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Tricia Wirth

Property Perspectives: Navigating the Real Estate Landscape

Why Hire a Realtor? Because Having A Professional on Your Side Makes All the Difference.

How to Make Your Dream of Homeownership a Reality.

Will Forbearance Plans Lead to a Wave of Foreclosures?

Why This is a Great Year to Sell Your Vacation Home

9 Real Estate Terms to Know When Buying or Selling

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