April 4, 2013
It’s a great time of year to get a jump on the home buying competition by checking out open houses in DC Maryland and Virginia. Before getting in the car to run to the nearest “Open Sunday” sign, take note of these tips. The first tip is to do your research with your Realtor or online to find the properties in the neighborhoods that interest you. There are great mobile apps that can guide your search as well. Realtor.com, Trulia and other big sites have great mobile apps which let you search for open houses by list or map and […]
April 25, 2013
For most would-be homebuyers, making a run at homeownership is going to mean getting approved for a home loan. It’s a process that, at best, can be stressful and confusing. Borrowers can be better prepared by taking steps to study their options and learn what to expect from a lender. “It’s surprising to me that people tend to spend more time in pre-purchase research for a car than they do for a home mortgage,” says Chris George, president of home mortgage lender CMG Financial. Keeping up to date on changes in the mortgage market is necessary, because the government, which essentially […]
June 20, 2013
As the housing market continues to recover, many borrowers are finding there are more hoops to jump through to qualify for a loan. But according to lenders it’s not necessarily harder to get a loan today, you’re just required to submit more documentation, and to keep it updated through closing. The added paperwork is in response to the many bad loans and fraud during the crisis years. According to an article in Forbes, most failed loan applications fail because they don’t meet the rigorous documentation requirements, not for lack of pre-qualifying (Forbes, “The Perfect Loan File,” 3/9/12). The reasoning behind […]
January 6, 2014
Are you thinking about buying your first home this year? It has been said repeatedly that this is one of the biggest financial decisions you will ever make. It’s both an exciting and nerve-racking time for perspective homeowners. Setting realistic expectations is a must; rarely do first time home buyers purchase their dream home. That may happen on the second or third purchase. The first step is to save! According the National Association of Realtors, 32% of all buyers cut spending on luxury or non-essential items. Twenty-six percent cut spending on entertainment, 20% cut spending on clothes and 13% canceled […]
July 16, 2014
“Mold” is the last thing you want to hear when you’re making an offer on a house. While this could be unsettling news, mold doesn’t have to be a deal breaker, as Michelle Hopkin ProTec Inspection Services explained to Realtors at a recent visit to Central Properties. When mold is suspected, a home inspector certified to test for mold should visit the property to determine the scope of the problem, and to recommend a course of action for remediation. Have more questions? Need help buying or selling your home? Talk to us: we can help! 1 Step 1 Pick […]
August 5, 2016
While buying a home can be a daunting process, there is plenty of help to assist you along the way. There are a lot of moving parts in today’s real estate market so most homebuyers hire knowledgeable professionals – agents, lenders and appraisers – to assist them in this exciting yet challenging endeavor. While professional assistance is key, personally understanding the purchasing process is just as important. Americans will move nearly a dozen times in their lifetime and equipping yourself with the following information is essential to your success as you search for your next home: 1. Prepare Yourself for Ownership […]
August 12, 2016
You did it! You have saved up for a down payment and are ready to purchase the house of your dreams. But before you make an offer on a home, we recommend learning more about closing costs. In this article, we’ll help you learn what to expect as a buyer at closing and how to reduce your out-of-pocket expenses. Which Closing Costs Are Buyers Responsible For? Buyers are usually responsible for paying for a lot of different closing costs. These tend to amount to anywhere from 3 to 5 percent of the total purchase price of the house. For example, […]
September 26, 2016
So you’ve saved up your down payment, and you’re ready to start looking for your first home? Choosing the right real estate agent to help you find what you’re looking for is an important variable in the purchase equation. While the housing market is awash with agents, there are essentially only two types; each one plays a different role in the real estate transaction. Seller’s Agent Vs. Buyer’s Agent Seller’s Agent:  This agent lists the house and works for the seller. In this role, the agent provides information about the buyers, help with pricing the property, and advises the seller during […]