Mary Foley Real Estate Inc.
Mary Foley Real Estate Inc.

Posted by Mary Foley Real Estate Inc. on 3/20/2018

If you intend to buy a house, you probably will check out a lot of home listings over the next few days and weeks. However, it is important to note that not all home listings are created equal, and how you analyze home listings may dictate your homebuying success.

Ultimately, there are several factors that homebuyers need to consider as they assess home listings, and these factors include:

1. Price

The price of a home is one of the key factors – if not the most important factor – that a homebuyer needs to consider in a home listing. Because if you ignore a home's price, you risk wasting precious time and resources as you pursue a home that falls outside your price range.

When it comes to buying a home, it pays to develop a budget ahead of time. That way, you'll know how much you can spend on a residence and can tailor your home search to fit your budget.

You may want to get pre-approved for a mortgage prior to looking at home listings as well. By doing so, you can enter the housing market with a budget in hand and explore available residences that won't force you to spend beyond your means.

2. Condition

Are you looking for a fixer-upper or a brand-new residence? Take a look at a home's condition, and you can determine whether a particular residence is right for you.

Oftentimes, a decades-old residence may require myriad upgrades. This means you may need to allocate significant time and resources to enhance the condition of an old house after you finalize your home purchase.

On the other hand, it is essential to remember that a new house may prove to be more expensive than an old residence. And if you're on the lookout for a bargain, you may want to shy away from listings for brand-new houses.

3. Features

Creating a list of must-have home features is ideal, as this will enable you to narrow your search for your dream residence.

For instance, if you want a home that has a big swimming pool, you can browse home listings accordingly. Or, if you would like to buy a house that is located near some of the nation's best schools, you can focus on home listings in cities and towns that feature top-rated schools.

If you want to streamline your home search, it usually helps to look beyond home listings. Fortunately, real estate agents are available to help you accelerate your search for the perfect residence.

A real estate agent understands the ins and outs of the housing market. He or she will learn about your homebuying goals and provide you with the latest home listings. Then, a real estate agent will work with you to simplify your home search and ensure that you can discover a terrific residence at an unbeatable price.

Take the guesswork out of reviewing home listings – use the aforementioned tips, and you can quickly evaluate a wide range of home listings and find your dream house.

Categories: Uncategorized  

Posted by Mary Foley Real Estate Inc. on 3/6/2018

A home showing will help you gain the insights you need to make an informed decision about a house purchase. At the same time, you may have many concerns about whether a residence is right for you, even after you complete a home showing.

Ultimately, there are many questions to consider after you finish a house showing to ensure you can make the right choice about a residence, and these include:

1. How did I feel as I walked through a home?

Oftentimes, homebuyers try to envision what life may be like if they purchase a residence. As these buyers walk through a house during a showing, it sometimes can be simple to imagine the possibilities if you buy this residence. On the other hand, it may be tough to envision a future in a particular home if a house fails to match or exceed your expectations.

Think about how you felt as you explored each room in a house during a showing. If you left a home showing with a good feeling about a residence, it may be beneficial to submit an offer or set up a follow-up showing. Conversely, if a home showing left you feeling uncomfortable with a residence, you may want to continue your search for your dream house.

2. Are there any major issues with a home?

Generally, it is a good idea to ask lots of questions about a house during a showing. This will enable you to learn about the condition of a home and determine whether major repairs are necessary.

A home in need of significant upgrades offers opportunities for homebuyers who are looking for a "fixer-upper" house. In fact, if you submit an offer on a fixer-upper home, you may be able to perform assorted repairs to enhance a house's condition and value.

Comparatively, if you are unwilling to perform substantial home upgrades, there is no need to worry. You can always forego submitting an offer on a house after a showing, and by doing so, continue your pursuit for your ideal home.

3. Is a home a viable long-term investment?

As a homebuyer, it is important to find a house that will serve you well both now and in the future. Because if you fail to do so, you risk purchasing a house that will only decline in value in the years to come.

If you feel that a home is a viable long-term investment following a showing, you may want to submit an offer to acquire this residence. Then, if a seller accepts your offer, you can conduct a home inspection and move forward in the homebuying process.

Lastly, as you consider what to do after a home showing, you may want to collaborate with a real estate agent. This housing market professional can help you evaluate the pros and cons of submitting an offer on a particular residence. Perhaps best of all, a real estate agent will offer expert tips to ensure you can find your dream residence in no time at all.

Tags: Buying a home   showing  
Categories: Uncategorized  

Posted by Mary Foley Real Estate Inc. on 2/20/2018

Ready to buy a home? You'll likely need a mortgage to ensure you can afford your dream residence. Lucky for you, many banks and credit unions are happy to help you discover a mortgage that suits you perfectly.

Ultimately, meeting with a mortgage lender may seem stressful at first. But this meeting can serve as a valuable learning opportunity, one that allows you to select a mortgage that is easy to understand and matches your budget.

When you meet with a mortgage lender, here are three of the questions to ask so you can gain the insights you need to make an informed decision:

1. What mortgage options are available?

Most lenders offer a broad range of mortgage options. By doing so, these lenders can help you choose a mortgage that meets or exceeds your expectations.

Fixed-rate mortgages represent some of the most popular options for homebuyers, and perhaps it is easy to understand why. These mortgages lock-in an interest rate for a set period of time and ensure your mortgage payments will stay the same throughout the duration of your mortgage.

Meanwhile, adjustable-rate mortgages may prove to be great choices for many homebuyers as well. These mortgages may feature a lower initial interest rate that rises after several years. However, with an adjustable-rate mortgage, you'll know when your mortgage's interest rate will increase and can plan accordingly.

2. Do I need to get pre-approved for a mortgage?

Pre-approval for a mortgage usually is an excellent idea, and for good reason.

If you get pre-approved for a mortgage, you may be able to enter the homebuying market with a budget in mind. That way, you can pursue houses that fall within a set price range and avoid the risk of overspending on a home.

On the other hand, you don't need to be pre-approved for a mortgage to submit an offer on a home. But with a mortgage in hand, you may be able to gain an advantage over the competition, one that might even lead a home seller to select your offer over others.

3. How long will a mortgage last?

Many mortgages last 15- or 30-years – it all depends on the type of mortgage that you select.

A lender can explain the length associated with various mortgage options and highlight the pros and cons associated with these mortgages.

Moreover, you should ask a lender if there are any prepayment penalties if you pay off your mortgage early. This may help you determine whether a particular mortgage is right for you.

When it comes to finding a lender, don't forget to meet with several banks and credit unions. This will allow you to discover a lender that offers a mortgage with a low interest rate. Plus, it enables you to find a lender that makes you feel comfortable.

If you need assistance in your search for the right lender, be sure to reach out to a real estate agent. This housing market professional can provide details about local lenders and ensure you can accelerate your push to acquire your dream residence.

Posted by Mary Foley Real Estate Inc. on 1/16/2018

Buying a home should be a quick, simple process. However, the homebuying cycle sometimes proves to be a hassle, particularly for those who are shopping for a house for the first time.

Lucky for you, there are many quick, easy ways to become a smart homebuyer – here are three tips to ensure you can make informed decisions throughout the homebuying journey.

1. Check Out a Broad Array of Houses

Purchasing a home can be a fun, exciting journey, especially if you explore a wide range of residences.

Remember, the more residences you check out, the more likely it becomes that you'll find one that matches or exceeds your expectations.

When you review houses, be sure to analyze each property's interior and exterior closely. That way, you can identify any problem areas and determine whether these issues are potential deal-breakers.

Also, don't hesitate to check out the same house multiple times. It never hurts to take a second look at a house. And if you find that you enjoy a home after a second walk-through, you may be ready to submit an offer on this residence.

2. Set a Homebuying Budget

Before you make an offer on a house, it is important to consider exactly what you can afford. By doing so, you can avoid the temptation to overspend in the hopes of acquiring your dream house.

Many homebuyers get pre-approved for a mortgage – something that may prove to be exceedingly valuable.

With pre-approval for a mortgage, a homebuyer will know exactly how much money he or she can spend on a home. This will enable a homebuyer to enter the housing market with a budget in hand and map out his or her home search accordingly.

Furthermore, consider your monthly expenses prior to submitting a home offer. Electricity and assorted utility expenses can add up quickly, so you'll want to account for these costs. And if you want cable and internet services at your new home, you'll want to evaluate these potential expenses as well.

3. Consult with a Real Estate Agent

A real estate agent is a housing market professional, and as such, will help you simplify the process of going from homebuyer to homeowner.

Typically, a real estate agent will meet with you to understand your homebuying needs. He or she then will help you develop a homebuying strategy, one that ensures you can purchase your ideal house at a budget-friendly price.

With a real estate agent at your side, you should have no trouble acquiring a wonderful residence. This housing market professional will set up home showings, keep you up to date about new property listings and negotiate with home sellers on your behalf. As a result, a real estate agent will guarantee you can get the best results possible throughout the home selling journey.

Don't leave anything to chance as you kick off your home search. Instead, use the aforementioned tips, and you can become a smart home shopper in no time at all.

Categories: Uncategorized  

Posted by Mary Foley Real Estate Inc. on 1/9/2018

House hunting can be enjoyable but becomes overwhelming pretty quickly. After looking at many different houses, they can all start to look the same. It’s hard to remember what homes had what features. In order to make a right decision on which home to make an offer on, you’ll need to remember the details of each house. Read on for tips to help you house hunt like a pro.

Keep Track Of The Homes You Have Looked At

Whether you’re doing simple online searches or touring open houses, it’s easy for your mind to get jumbled as to what you have seen. It’s a good idea to keep a record of homes with their addresses as to where they are located, the color of the house, and the desirable features contained within the home. This way, you can have an overall picture of what you want. 

Know What Features Are Important 

You should make a list of everything you’re looking for in a home before you even start searching. Include things like:

  • The price range
  • How big of a house you’re looking for
  • How many bedrooms
  • How many bathrooms
  • Additional features like walk-in closets
  • Eat-in kitchen or dining room
  • What type of home you’re looking for
  • How many stories you want the home to be

You can then branch off from the essentials on the list adding other desirable features in a property like a pool, a jacuzzi, a large backyard, or a fireplace. Then, you should make a list prioritizing what is the most important to you in your home search. Things like the number of bedrooms and the size of the home will be a higher priority than a jacuzzi tub. 

Look At Your Commute

One of the most significant factors in finding a home is how far it is from your workplace. The closer you are to work, the less stressful your life will be. If you take the train or a bus to work, it may be easier to live close to a station or stop. On the flip side, to be closer to work what are you sacrificing? Are you close to schools, parks, stores, and other regularly visited spots? See what locations suit your lifestyle.

Review What You’ve Looked At

Once you have done your research and decided what you need and want, it’s time to make comparisons. Look at the prices of each home and see what they have to offer for the money. Once you decide the price and amenities are on par with your original wishlist, the house is a good candidate to put an offer on.