Homeownership

4 Tips for Making Your Best Offer

4 Tips For Making Your Best Offer

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Ready to make the best offer on your dream home? Here are 4 tips to stand out as a buyer:

  1.  Your realtor’s knowledge about the local market, recent sales, and current trends is essential. Rely on their expertise to help you understand today’s market and what sellers are looking for.
  2.  Submitting your pre-approval letter along with an offer shows the seller that you have the financial capacity to follow through with the purchase.
  3.  It's essential to strike a balance between making a strong offer, not overpaying, and on the flip-side.. not offending the seller with a lowball offer either! Talk with your agent to strategize your offer terms based on comparable sales and local market conditions.
  4.  As your realtor, the Signature ONE Realty Group is here to advocate for your best interests! Depending on the home - as a buyer, you may have more negotiating power than before and we’re here to help you determine where and when there’s wiggle room.


Having a knowledgeable & reliable realtor by your side can make all the difference in finding and successfully securing your dream home! If you’re thinking about getting started, let us know below.

Lets Get Started!

 

 

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    Our job is to make sure you don't cry at all!

    Pregnant woman crying, man comforting her
    Justin Paget/Getty Images
    BY BEN VERDE

    Half of homebuyers cry at least once while shopping for a home: Survey

    50% of people who bought a home over the past 2 years say the process brought them to tears, according to a new survey conducted by Zillow!

    Buying a home can be as stressful as planning a wedding or getting fired for Americans, half of whom find themselves in tears at least once during the process, according to a new survey. Conducted by Zillow, the survey found that 50 percent of homebuyers said the process left them in tears, with millennial and Generation Z buyers — who are most likely to be buying their first home — leading the pack, with 61 percent of millennials and 65 percent of Gen Zers reporting tears, according to Zillow.


    The findings come at a point when the housing market has come to be defined by low inventory and high demand, with 60 percent of home sellers reporting at least two offers on their home. While increased mortgage rates have begun to shift the market, intense competition and high prices persist, with nearly half of all homes sold during April 2022 going for above-asking price, up from 37 percent in 2021.


    The already-emotional nature of buying a home combined with some of the most challenging conditions ever seen for making the purchase has been enough to make buyers break down and cry, according to Zillow experts.


    “Buying a home is not like buying any other asset; it’s deeply personal and it’s emotional,” Zillow home trends expert Amanda Pendleton said in a statement. “When you make an offer on a home, you have likely envisioned your life there. If you lose out on that home to a stronger offer, it can feel like losing a future you have already started planning. These survey results find, even when they are ultimately successful, a large share of buyers in today’s competitive market experience heartache and stress.”


    Buying a home has long been a stressful endeavor in most markets, but the added stressors of higher costs and competition has increased the burden on buyers, many of whom have to compete with all cash offers or engage in bidding wars.


    Zillow’s survey, which featured data from more than 2,000 people who purchased a home over the past two years, found that 62 percent were stressed about being able to find a home within budget, 61 percent were stressed about not having enough homes to choose from, and 58 percent were stressed about finding a home in their preferred neighborhood.

    Non-white buyers were more likely to cry at least once during the process, Zillow found, with only 48 percent of white buyers reporting tears compared to 68 percent of Latinx buyers and 51 percent of Black buyers.


    Past studies have shown that Black mortgage applicants are significantly more likely to be denied mortgages due to low appraisals,  with data from Zillow showing that Black mortgage applicants are 84 percent more likely to be denied than white applicants.

     

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      Why Inflation Shouldn't Stop You from Buying a Home in 2022

      Arrows Up and Down

      If you’re following along with the news today, you’re probably hearing a lot about record-breaking home prices, rising consumer costs, supply chain constraints, and more. And if you’re thinking about purchasing a home this year, all of these inflationary concerns are likely making you wonder if you should wait to buy. Investopedia explains that during a period of high inflation, prices rise across the board. And while home prices aren’t immune from this increase, here’s why inflation shouldn’t stop you from buying a home in 2022.

       

      Homeownership Offers Stability and Security

      Home prices have been increasing for quite some time, and experts say they’re going to continue to climb throughout 2022. So, as a buyer, how can you protect yourself from rising costs for things like food, shelter, entertainment, and other goods and services? The answer lies in housing.

      Buying a home allows you to lock in your monthly mortgage payment for the foreseeable future. That means as other prices rise, your monthly payment will be consistent thanks to your fixed-rate mortgage. This gives you the peace of mind that the bulk of your housing costs is shielded from inflation.

      James Royal, Senior Wealth Management Reporter at Bankrate, says:

      A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same.”

      If you rent, you don’t have that same benefit and you won’t be protected from rising housing costs. As an added incentive to buy, consider that today’s mortgage interest rates are lower than they have been in decades. While inflation decreases what your dollars can buy, low mortgage rates help counteract it by boosting your purchasing power so you can get more home for your money. They also help keep your monthly payments down. This is especially important during an inflationary period because you’ll want to protect yourself from the impact of inflation as much as possible.

      Ali Wolf, Chief Economist at Zondaexplains:

      “If you have cash and are expecting inflation, you want to think through where you can put your money so it does not lose value. Housing is commonly looked at as a good inflation hedge, especially with interest rates so low.”

       

      Bottom Line

      The best hedge against inflation is a fixed housing cost. That’s why you shouldn’t let it stop you from buying a home this year. Not sure where to start? Let’s connect so you have expert advice and help throughout every step of the homebuying process.

       

       

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        The #1 Thing You Can Do Now to Position Yourself to Buy a Home This Year

        The last few weeks and months have caused a major health crisis throughout the world, leading to a pause in the U.S. economy as businesses and consumers work to slow the spread of the coronavirus. The rapid spread of the virus has been compared to prior pandemics and outbreaks not seen in many years. It also has consumers remembering the economic slowdown of 2008 that was caused by a housing crash. This economic slowdown, however, is very different from 2008.

        One thing the experts are saying is that while we’ll see a swift decline in economic activity in the second quarter, we’ll begin a sharp rebound in the second half of this year. According to John Burns Consulting:

        “Historical analysis showed us that pandemics are usually V-shaped (sharp recessions that recover quickly enough to provide little damage to home prices), and some very cutting-edge search engine analysis by our Information Management team showed the current slowdown is playing out similarly thus far.” 

        Given this situation, if you’re thinking about buying a home this year, the best thing you can do right now is use this time to get pre-approved for a mortgage, which you can do from the comfort of your home. Pre-approval will help you better understand how much you can afford so that you can confidently do the following two things when you’re ready to buy:

        1. Gain a Competitive Advantage

        Today’s low inventory, like we’ve seen recently and will continue to see, means homebuyers need every advantage they can get to make a strong offer and close the deal. Being pre-approved shows the sellers you’re serious about buying a home, which is always a plus in your corner.

        2. Accelerate the Homebuying Process

        Pre-approval can also speed-up the homebuying process so you can move faster when you’re ready to make an offer. Being ready to put your best foot forward when the time comes may be the leg-up you need to cross the finish line first and land the home of your dreams.

        Bottom Line

        Pre-approval is the best thing you can do right now to be in a stronger position to buy a home when you’re ready. Let’s connect today to get the process started.

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          The Best Advice Does Not Mean Perfect Advice

          The Best Advice Does Not Mean Perfect Advice | MyKCM

          The angst caused by the coronavirus has most people on edge regarding both their health and financial situations. It’s at times like these when we want exact information about anything we’re doing – even the correct protocol for grocery shopping. That information brings knowledge, and this gives us a sense of relief and comfort.

          If you’re thinking about buying or selling a home today, the same need for information is very real. But, because it’s such a big step in our lives, that desire for clear information is even greater in the homebuying or selling process. Given the current level of overall anxiety, we want that advice to be truly perfect. The challenge is, no one can give you “perfect” advice. Experts can, however, give you the best advice possible.

          Let’s say you need an attorney, so you seek out an expert in the type of law required for your case. When you go to her office, she won’t immediately tell you how the case is going to end or how the judge or jury will rule. If she could, that would be perfect advice. What a good attorney can do, however, is discuss with you the most effective strategies you can take. She may recommend one or two approaches she believes will be best for your case.

          She’ll then leave you to make the decision on which option you want to pursue. Once you decide, she can help you put a plan together based on the facts at hand. She’ll help you achieve the best possible resolution and make whatever modifications in the strategy are necessary to guarantee that outcome. That’s an example of the best advice possible.

          The role of a real estate professional is just like the role of the lawyer. An agent can’t give you perfect advice because it’s impossible to know exactly what’s going to happen throughout the transaction – especially in this market.

          An agent can, however, give you the best advice possible based on the information and situation at hand, guiding you through the process to help you make the necessary adjustments and best decisions along the way. An agent will get you the best offer available. That’s exactly what you want and deserve.

          Bottom Line

          If you’re thinking of buying or selling, our agents are ready to help make sure you get the best advice possible.

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