Category Archives: C21 Lady of the Lakes

Real Estate Tips for Buying Homes on the Water

Living near the water is a dream for most people. It is peaceful and tranquil.  Most often home on the water are away from the city’s utter over population. There is a level of calm that always exists along with a view that is spectacular every time of the day. Living on the water also means more privacy as your house is not blocked by houses stacked one on top of each other.  Water front homes are directly in front of the open water. Which allows you to take part in water-related activities such as swimming, water skiing, fishing, boating, ice skating and more.  Waterfront homes also retain their value better than most other types of real estate.

Often lake homes are more difficult to buy and harder to negotiate than a land-locked property. Here are some tips from professional real estate agents to keep in mind when looking into buying waterfront property.

  1. Finding a Real Estate Agent That Specializes in Waterfront Homes

Many real estate agents do not have the expertise and knowledge it takes to purchase waterfront properties. As a home buyer you should always look for a real estate agent who specializes in lake front property as they would have a better understanding on the pros and cons of different waterfront properties.

  1. Focus on The Property

Don’t just buy a home on the lake to say you have lakefront property.  Many buyers are disappointed on their home once they have moved in when they realize the homes pitfalls.  The basement may leak, the view may not be what you wanted, it can be muddier than you are wanting to deal with or many other issues may exist that you took for granted being focused only on getting a home on the water.

  1. Taking Out a Home Loan/Mortgage

Lake homes are often more pricey than other types of property.  Buyers looking to purchase a home on the water are advised to investigate mortgage preapproval sooner than later.  Lenders often consider the most eligible and credit worthy buyers.  With pricey water front property, it may take longer to work out a loan agreement between the lender and the buyer.  It will be important for the lender to be sure that the buyer has considered the cost of insuring a lake front house as well.

  1. Focus on The Structure of the Home

Properties in front of the water receive more abuse from added elements.  It is suggested that extra measures should be taken to protect the property. For example, using stainless steel locks or storm shutters.  The homes structure should be thoroughly inspected to make sure that there are not signs of any structural damage which could destroy the integrity of the home.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

For Sale by Owner Vs. Listing by Agent

Let’s say, for example, you’ve done a great job building your nest egg, then you see a lakefront property for sale by owner sign, would you be confident enough to consider buying the property or would you rather buy a home for sale listed by an agent? Many buyers do not consider for sale by owner homes because they prefer working with a real estate agent who can cut through a few red tapes on their behalf.

When you are new to the home buying or selling game, it helps to have professional by your side who will do more than guide you through the process. Having a house for sale listed by an agent has proven beneficial to many homeowners because for starters, a listing agent has connections and they will know where on the countless websites to list your house, how to up-sell it and how to find cheaper ways to advertise the property.

Also, since you can easily underestimate the value of your property, a listing agent can provide an accurate home value based on a complete market analysis for the right listing price. Realtors are pit bulls when it comes to networking, negotiating better sale contract terms, and preparing intricate and often lengthy paperwork on a client’s behalf. They don’t quit until they make a sale and a homeowner is satisfied.

Realtors know how to present your home to buyers to sell it at top dollar.  Most of us don’t have the eye for detail that real estate agents have especially when it comes to staging our homes.  Real estate agents know what should head into storage and what can stay on display.  The way that your home is presented can matter a great deal to the overall asking price you will receive.

Another benefit of having a real estate agent working on your behalf is that they will help negotiate up until the homes closing date.  You may think once the deal is signed and agreed upon it is over however this is not the case.  After the homes inspection has been completed often buyers will come back to the table with issues that they want the seller to take care of before they close on the home.

This aspect of negotiations is best sorted out between realtors.  Buyers often over estimate the cost of repairs that are needed to the home that they are about to purchase.  This often occurs because of the anxiety that is felt when making decisions of this magnitude.  Real estate agents on both sides have experience that will allow them to make a decision that is best for both parties, wrap up negotiations, and close on the home.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Spring is in The Air: What to Look for When Buying a Home

Spring season is house-hunting season. It is time we leave our wintery slumber and decide to get going.  The sun is shining, the ice is melting, and everything appears shiny. If you are considering buying a home during the spring season, know very well what problems tend to show up after a long winter before making that offer.  It is crucial that buyers looking for a new home seek out the assistance of a real estate agent.  A professional realtor assists throughout the buying process in a number of ways including a pre-check for damage prior to the offer and inspection process.  Real estate agents are helpful in spotting common issues that can appear in homes after the spring thaw including:

Water Damage:

When snow melts the running water often can enter into basements, crawlspaces, or cement foundations.  If this occurs, it usually shows up in the form of yellow patches on inside walls or bulging paint patches.  These are not often spotted by excited homebuyers however real estate agents are well trained in finding these smaller issues that can easily be covered during the viewing process.

External:

It is crucial to thoroughly examine the exterior of the home when viewing homes.  Peeling paint, cracks in the siding, and an abundance of mold can be indicators of structural issues throughout the home.

Out of Sight:

Real estate agents will always have homeowners check out the crawlspace, attic, basement, and utility rooms.  These are the areas within a home that often conceal water and mold issues because these areas are often given less care when sellers are getting a home ready to sell.  However, the bones of the home need to be examined.  It is important to take a deep breathe in each of these areas to make sure that you are not catching notes of musty smells that can indicate moisture is getting into the foundation framing and insulation.

Roof Inspection:

Snow, sleet, and rainwater can cause havoc on roofs, especially when shingled with asphalt shingling. Although it may seem just a little silly, a set of binoculars should be used by a real estate agent or home buyer when going for a home viewing.  These can help you get an obvious look at the situation above the gutters. Cracks and curling could indicate the shingles need to be replaced.

Knowing potential trouble spots when buying a home before making an offer, paying for an inspection or worse yet moving in will help to make sure that home buyers make the best buying decision possible.  This is one of the reasons it is so important to use a real estate agent when buying or selling a home.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents, call 734-426-6060 today.

7 Ways To Prepare For Buying A Home

If you’re looking into buying a home soon we recommend that you prepare a few things before you make the big purchase. Buying a home is a huge decision and the process can be quite complex especially for first-time homeowners.  It’s best if you can be as prepared as possible with these few things first:

  1. Saving for a Down Payment and Closing Costs

Buying a home isn’t cheap and will take a huge chunk of savings for the down payment. Although many would love to own their own home, not many do because they can’t afford such a large down payment. Ideally, you should have been saving for your home for a couple of years. The good news is that there are a number of different loan options you might qualify for without even having to come up with the usual 20% it takes for a conventional loan. It is important to look at your budget and speak to a professional mortgage broker and real estate agent before starting to look for a home.

 

  1. Obtain Your Credit Report

In order to get the best loan out there it helps to have a pretty high credit score. This will get you a lower interest rate on your mortgage. You should have between a 670 FICO and a 730 FICO, which is ideal for getting the best interest rates.

 

  1. Hire a Realtor

The key to finding your home is having a good real estate agent which should be a priority for you when you are first embarking on the journey to owning your first home. Ask family and friends for recommendations or look for local agents in the area you would like to buy a home in.

 

  1. Consult with a Mortgage Broker

Usually, your real estate agent will recommend you a mortgage broker that they work in conjunction with. But if not, you’ll have to find one that will help you with your loan to buy the home. They’ll get you prequalified for a home and then help you through the entire process.

 

  1. Research Local Neighborhoods

Doing a bit of research will help you find your dream home which is why you need to narrow down the different neighborhoods you are interested in and see the price range that the houses are going for.

 

  1. Wants vs Needs

Going out and seeing the actual homes is the fun part but before you go out and do that you’ll need to decide on a list of things you’d like your perfect house to have. This way you’ll be able to search homes that have everything on your list instead of wasting your time looking at every home on the market.

 

  1. Strategize

Sit down with your realtor and figure out a home buying strategy so that the entire process runs seamlessly. Are you looking for a fixer upper or maybe you’ll want to write contingent offers? Your real estate agent can help you figure this all out so that there will not be any surprises.

 

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

 

5 Secrets to Help You Sell Your Home

The main focus for homeowners and realtors alike when selling a home is to get the best offer on the home within the shortage amount of time possible.   Below are five secrets that can help sell your home quickly and with a favorable offer.

  • Presentation

A home should not be put on the market unless it is 100% presentable, has no pending repairs, is priced appropriately, and is ready for a buyer.  Many times, buyers only take couple of months to buy a home.   The last thing you want to do is put your home on the market before it is ready to sell as many buyers won’t have a proper perception of your home.  They are looking for a home that is ready for them to buy.  Sellers will lose out if they market their home before necessary repairs are done.

  • Priced Right

Another important element is pricing your home correctly for the current market.  A real estate agent can help you determine the worth of your home.   Often homeowners price their homes based on how much they need to make from it instead of how much it’s worth.  If your home is overpriced for the market, it will be harder to find a buyer. If it’s underpriced on the other hand, potential buyers might think there are underlying issues within the home.  Buyers do not want to buy a home that constantly requires repairs and underpricing a home often gives this perception.

  • Curb Appeal Matters

The appearance of your home inside and out matters.  When potential buyers come to view your home, they start making their decision.  It doesn’t matter how big and beautiful your house is, if the yard is unkempt, dust has accumulated, the pool is a mess, and so forth potential buyers will not be attracted to it. You want to get good offers for your home? Make sure it is presentable from the day you put in on the market.

  • Find a Local Real Estate Agent

Find a local real estate agent to assist in the sale of your home.  Find a realtor that will assist you in your ultimate goal; finding a buyer quickly who is willing to offer the best offer.  Talk to local realtors, talk to other homeowners, and determine who the professional is that you need to be working with to sell your home.  It is important to find a realtor that you have determined to be professional and will do a good job for you.  Ask the hard questions.  You are paying for the services that a realtor is providing so be sure to get the return on your investment you are looking for.

  • Cozy and Welcoming

When your home is up for sale it is important to create an environment that is welcoming, easy to show, and comfortable.  Buyers often making their decision based on how they feel within the home.  Create an environment that makes your home easy to show by ensuring all rooms are accessible, that there is no clutter that hinders getting around the home, that the lighting, and smells within the home are all pleasant.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

5 Things You Must Do Before Buying a Home

It’s time, you are finally buying a new home! It is one of the most significant financial decisions that you will make in your lifetime. From figuring out which location suits you best, your budget and hiring a realtor, every single decision is so important.  Below we will look over five things all buyers must do before purchasing a home.  Mistakes at any stage in the house buying process can cost you more than time and money; they could cost you the home of your dreams.

Consult with a Trusted Real Estate Agent

Yeah, we know that real estate agents get paid a commission based on the sale and purchase of a home.  Many buyers think that this is a solid reason not to hire a realtor however, we are here to tell you the expense of an agent working on your behalf is nothing in comparison to the price you will pay for the mistakes you make on your own.

It is important to remember that a realtor is paid their commission by the seller and not the buyer.  Your real estate agent will make commission off the sale price of the home that is paid for by the homes seller.  The buyer will not be responsible for any of this expense.  Buyers agents will secure your interest in the home and guide you through the purchasing process from the first visit to the last signature.  Having the support of a real estate is a solid investment for any buyer looking to purchase a home.

House Affordability and Mortgage Pre-Approval

Most buyers think of a pre-approval as the point at which they must buy a home however, this is not the case.  A pre-approval is the amount that a lender is comfortable lending you however does not mean that this is where you need to start with your home budget.  It just means that they think at this threshold you could make the payments on the home.    If you decided to purchase a home of a lesser value it would mean that you would have more money in your pocket each month to save, spend on modifications, and such.  It is important to look at homes that meet your need while being realistic on the amount you are interested in paying out monthly for mortgage expense.

Negotiate

You can do it yourself or your real estate agent can also do this on your behalf. It is advisable to ask your realtor about it. They not only have ample experience in the field, but they also can focus on your recommendations for the deal to be outstanding. In general, for your better decision, and as a result, to feel in control and command – you should go through good negotiation skills.

Take Your Time Looking for A Home

Never believe or work according to someone else’s timeline and don’t make commitments that will make things challenging if your property hunt takes a few months longer than you thought about it. If you are on rent, then it’s better to stay on a month-to-month agreement so that you would be able to move without penalty or charges.

A Buying Agreement Is a MUST

Keep in mind that buying a house includes an agreement. When you are purchasing a house, there are papers to sign. A significant number of those papers, just contracts, need to be well-arranged. In the event, that you need more opportunity to survey your investigation, or want to buy a home loan, then all of this can be made a part of the deal. That is the place a clever real estate broker can help.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

Nine Questions to Ask Before Buying Your First Home

Buying your first home can be as exciting as it is demanding. Home ownership is a huge part of the long-term goals of many individuals especially as it provides much needed space for growing families. However, it is important to give this plan some thought as there is no time given to “think about it” after the purchase and there is no refund policy for you too. Hence, you must ask yourself the right questions, so you do not end up making costly mistakes. Here are nine practical and important questions you must ask yourself before you buy a home.

Why am I buying a Home?

This is arguably the most crucial question you must ask yourself as it is vital before you begin considering your options. Do you wish to buy and rent it? Are you going to live in it? Finding answers to these questions will help you determine the size of house that you would purchase and the loan structure that best suits the purchase.

What are your Long-term Career Plans?

Although you may have factored in the financial implications of a home purchase and consider yourself ready to buy a home, your career path may be an obstacle. If there is a chance you could be transferred from your current office location in the next few years, it may be ideal to reconsider your options.

What Kind of Neighborhood do you desire?

While your current situation – nature of job and age could play a big factor in deciding your choice of neighborhood, you might want to consider other factors such as the ease of access to public parks, the quality of local schools, and any other relevant environmental factors if you are thinking about starting a family in few years.

What is the nature of the house?

It would be near impossible to get the perfect house upgrade. The beauty of the wood floors or the amazing nature of the bay window may seem attractive, but you must really take a hard look at how outdated the apartment is and how much time you would invest if you engage in DIY projects yourself. This will help you avoid purchasing a home you could regret in future.

How much Utility can you reasonably afford?

Although your usage will largely depend on your family size, identifying the utilities you need to pay, and all the costs associated with moving into a potentially larger home will help you in making a wise decision.

Are there any environmental issues in the neighborhood?

Look out for any polluted sites in the area that may contain hazardous materials or any other contamination that could lead to emission of unhealthy fumes. You can make use of the Environment Protection Agency website to identify such areas.

What is the Security Situation?

You may be satisfied with the nature of the house and the local schools; however, you must consider the security of the area. In many cases, realtors may not inform you about every detail concerning the crime rate and overall security situation of the area. It is recommended that you contact the local police, ask for relevant security statistics and decide.

What would your Work Commute look like?

Have you found the perfect house already? Your work commute in the morning and evening should play a big part in your decision and if you find out you cannot bear the commute; the house is not one for you.

What is the Condition of the Drainage?

It is understandable for you to fantasize about the patios and visually pleasing lawns. However, the gutters are usually expensive to take care of when there is a problem. When it rains, does water pour over the gutters? Are there functional gutter guards in place? What is the proximity of the water emptying system to your house? These factors are crucial as you take that big step.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

 

What your Buyer’s Agent Will Do for You

Are you considering the purchase of a new home?  Buying a home is never a simple task.  In order to purchase a home there are a number of elements that go into it.  One thing for sure is that you must have the cooperation of the individuals currently in possession of the home you are looking to buy.  Usually sellers have listed their homes with a seller’s agent as they are looking to find a buyer, so this part is usually a fairly simple part of the process.

Buying a house can be a very taxing and time-consuming process.  It can end with its fair share of problems as well if you don’t choose the right buyers agent.  To decrease the stress that comes along with the buying process, hiring a buyer’s agent is what you need to do. A good buyer’s agent ensures that you buy a house at the best possible price and with minimal exertion.

What does a buyer’s agents do?

Agents are essentially the main broker in such operations and deal in every aspect based on their client’s wishes. Hence, agents must have a great knowledge of everything related to houses, including marketing trends, street smarts, and thorough information about all the areas with houses for sale. Agents are the ones to initially advise you about the kind of property you should look for based on your wishes. After that, the buyer’s agent looks for houses meeting the requirements that their clients have expressed.

Real estate agents must have thorough knowledge of all the locations in which houses are for sale and must have a grab of the market trend prevalent in those areas. While dealing with the sale of the property, the agent is the one who talks and deals with the owners of the property, while representing the wishes of their clients. It is a buyer’s agent’s duties to make sure their client purchases the house they want at the best possible price and with the least hassle.

What you should expect?

It is important that buyers work with reputable agents since agents get a cut out of every single successful deal, they may often try to swindle you by brokering deals without disclosing all the details to you. Worse, agents might end up cheating you out of all the money you are entitled to with charges they might not have told you about before. Not all buyer’s agents are like this, with many being honest and highly efficient at their work. It is your job as the buyer of a home to find an agent that is dedicated to your needs.

Finding the Best Agent

It is necessary to hire the best possible real estate agent you can find. It is advised to always look for agents or real estate agencies that have a very good reputation in the market and a good reputation with previous clients. You need to thoroughly search for the real estate agent that works best according to your needs. Often you can easily tell the intentions of any agent at the very first meeting if you go with the intention of judging them. Many real estate deals end up in legal battles because of agent discrepancies, so make sure you buy the best possible buyer’s agent. A good buyer’s agent makes sure that you buy a house at the best possible deal while feeling the least stress during the process of buying a house.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

 

Are You Cut Out For Real Estate?

According to the Top National Workplaces survey, real estate was the second happiest industry to work in 2016, and most people tend to agree with these findings. Imagine making a living by looking at houses all day long, having more wiggle room in your schedules than other professionals, where you are in a nutshell, self-employed, you are free to set your working hours, and your salary has no cap.

Qualities To Have As a Real Estate Agent

Real estate professionals have the propensity to inspire trust thanks to their excellent communication skills. They are not only sensitive and mature, but they also can give and receive constructive criticism and feedback, all the while staying calm during a crisis. What’s not to love about this line of work?

Mastering tactics to get more real estate listings, listing leads, and ultimately more money in real estate can prove challenging to a novice let alone a savvy realtor. The idea is to nurture potential buyers along and get them excited about the prospects of owning a home.

There are three known types of real estate listings:

1) Open Listing – allows a homeowner to sell his or her house by themselves and only pay 1 ½ of the selling broker’s commission

2) Exclusive Agency Listing – while the owner can still assert their rights to self-sell their home, in some cases the owner pays a broker to represent them

3) Exclusive Right-to-Sell Listing – this listing is the most commonly used ways where the broker has the exclusive rights to earn a commission by representing the owner and bringing potential buyer

While listing agreements are negotiable, the most common terms and conditions in regards to the length of listing can range from 30 days, 90 days, six months, one year or more. Selling commissions can be dictated by how fast a homeowner wants their house sold.

However, it is advisable that if the owner wants the agent to generate buzz and attract potential buyers, then he or she must up the total commission. The owner and real estate agent must also agree on the conditions of contract cancellation and expiration. All monies owed to the broker must be paid in full, and the broker should be willing to let the owner cancel the contract at any time if they (the homeowner) are is not satisfied with the overall real estate listing process or with the broker’s services.

The following are various ways that one can get potential real estate listings:

  • Partner with local banks, builders, mortgage providers, plumbers, electricians, marriage counselors, or dentists. They always have a good lead
  • Start advertising your services online
  • Send for sale by owner (FSOB) mail to your client list
  • Checkout vacant, inherited, or divorce homes. Unless an inherited home is in a pristine condition, most people do not want to incur renovations or building cost and are looking for a quick sale. Additionally, most divorcees that list their homes is because they are mandated to do so by the judge to sell their property

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.

The Advantages of Selling Your Home Using a Real Estate Agent

Do you own a residential property that you are looking to sell? Have you searched for buyers around you? Have you seen that it is not so easy to close a real estate deal on your own? Most homeowners that try to sell their homes one their own end up selling their house for a lower price from the value that it deserves. It is important to take help from professionals to complete this process as they know the right tactics to close the sale with benefit.

You might have overlooked the importance of having real estate professionals for selling your home; but here are few essential advantages to hire them.

Priced Right

The house selling process takes a potential turn when it begins with a reasonable asking price. The real estate agent can help you to stay up to date about property price variations happening in the local market so that you can set a strong selling amount for closing potential deals. Also, to improve the value of your house, the realtor may suggest few repairs and improvements in the space. This significant contribution can help you to sell your home at a beneficial price.

Marketing

The next important step for selling a house is a strong marketing plan. If you focus on the right market with a strong marketing strategy, you will find more buyers for your property and then it will become easier to close deals at a beneficial price. The expert real estate agents make use of multiple real estate listings along with cooperative marketing networks; they can help you to reach up to more people.

Security

When properties are sold without real estate agent; they often face troubles on security criteria. You may find strangers at your doorstep and it is risky to let them enter inside to view your property. But when you hire real estate agents for your home selling process, buyers come from right channels. These experienced sellers will help you to get qualified prospects for your property to lead the process safely.

Expert Knowledge

An expert real estate agent can help you to evaluate buyer’s proposal as per market position. Homeowners often find it difficult to negotiate the price point with buyers due to lack of knowledge about market prices. An expert agent can stay with you from the beginning of the process until you sign the final sale agreement. He will fight the whole case on behalf of you and will bring the best value to your pocket.

Efficiency

The home selling process involves lots of paperwork and it must be done carefully. To complete everything safely, it is good to hire professional real estate agent as they know the right procedures to close the deal. They will handle all the paperwork for you without making any mistake and you will be able to get your money on time.

Learn more about C21 Lady of the Lakes Realtors and the numerous services they offer including: buying a new home, selling a home, or renting a home at www.ladyofthelakes.com.  To contact one of our real estate agents call 734-426-6060 today.