Chris Voigt's Real Estate Blog
You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.
But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.
THE DOWNSIDE
The dow...
Home buyers tend to have a lot of questions about home inspections. Are they required? How are they different from appraisals? When does it take place? Here are answers to these and other common questions. 1. Home inspections aren't required, but they're worth it.There is no law that says you have to have an inspection when buying a house. It's an option that is generally left up to the home buyer. But while you're not required to have a house inspected before purchasing, it's generally a wise i...
Sellers seem to have mixed reactions when they hear the word "staging." Some go all-in, while others are somewhat resistant to the idea. The more reluctant homeowners ask questions like: Why would anyone bother staging a home before selling it? It sounds like a lot of extra work for me. What do I get out of it?There's a simple answer to these questions. By staging your home effectively, you have a better chance of selling it quickly and for the highest possible price. This alone should be enough...
Buying a home is unlike any other purchase. Before you assume you can do this on your own, consider why it may be smarter to work with an Accredited Buyer’s Representative (ABR®).
1. A skilled professional will be covering your back.
In real estate transactions, having representation (either as a buyer or seller) means that an industry professional is obligated to protect and promote your interests, including keeping certain information confidential and sharing information with you that might...
Home prices in Western New York have risen more or less steadily over the last few years. Home values are now at their highest point in history -- even higher than the last housing boom. But what determines the "market value" of a home? How do sellers determine their list prices, and how can buyers evaluate a listing based on current market conditions. Here's a crash course in determining market value, for sellers and buyers alike.The Definition of 'Market Value'Let's start off with a quick defi...
Steady demand. Limited supply. That's what we are seeing in real estate markets across the country right now. Inventory is particularly tight within the lower price ranges. "The starter house is nearly missing in some markets," according to Jessica Lautz, managing director of survey research and communication for the National Association of Realtors.Of course, conditions can vary from one city to the next. But the overall trend in housing markets across the country is that supply is still fallin...
Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid:
Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept,...
