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Advertising your Sale

by Karen Picarello

 

Advertising your property correctly is very important, and is one of the things that a realtor can help you most with. If you are looking to sell a property (or anything, for that matter), you will only be successful if you can get the information about your property in front of someone who is interested in buying it. In order to get a good offer, you want as many potential buyers as possible who are looking at and then potentially making offers on the property. This competition will increase the price you will get for your house, and will also help you sell quickly.

Now, splashing advertising across every real estate listing in your area can be pretty simple. But it will also be expensive and time consuming. Its will likely be much more effective if you can target your advertisements so that buyers likely to be interested in your specific property will see it. The buyer for a 16 million dollar beach mansion is much different from the average buyer of a $200,000 dollar home, who again is different from the average buyer of a 150 million dollar commercial property. Similarly, things like the style of the home, its location, and additional features might be more appealing to certain groups. Advertising in spaces which target that demographic will typically give you a much better return for your effort. An experienced realtor can typically evaluate your property, and understand the best spaces for an advertisement would be.

 Additionally, even if you could get an advertisement everywhere, is there any guarantee that it will be an effective advertisement? If your advertisement is not well designed, it might end up being a deterrent to potential buyers, or at the very least can decrease the number of interested responses. Having an experienced professional doing things like taking pictures, staging the house, and crafting the advertisement can drastically change how attractive the home will appear based on the advertisement.

The best thing that you can do when looking to advertise your house in a way that will help you sell your house quickly and at a good price is to consult with a local experienced expert. No matter how nice your property is, if you can’t get the word out, it wont sell. Advertising effectively will reach the greatest number of potential buyers with the least investment, and will convince them to take a look.

 

 

Making A Competitive Offer

by Karen Picarello

There are few things more frustrating and demotivating than finding a home you love, deciding you want it, making an offer…. And then learning that the owner has accepted another offer from a different buyer. Chances are, you won’t have the opportunity to buy that property again. So if you are shopping for a home, you should know how to make an offer that will get attention.

 

First, take the time to get to know the seller. While you may not hit it off with everyone, on the off chance that you do, you will have a much better chance of having your offer accepted over other offers. Even if you don’t end up making a strong connection with them, you might be able to understand what is important to them. Understanding their priorities means that you will be able to make an offer that has bee changed to fit their needs. If they are worried about fixing something, for example, offering to do it yourself after buying the house could make them much more likely to prefer you as a buyer. Understanding the sellers needs is key when looking to make a competitive offer.
 

Another thing you can do to have a better chance of getting the deal is appearing to be a serious buyer. One of the best things you can do is get preauthorization for certain loan amounts from your lender. If you show up to a home with a loan preauthorization in hand, the seller and their agent will instantly see that you are a serious buyer and have the money to proceed with the purchase. This will absolutely make them more likely to pursue a deal with you, as many sellers are looking to get out of the house as quickly as possible. So if you are looking at houses, go get that from your lender. At the very least, it will help you get something necessary out of the way, and will give you a good idea of the budget you will be working with. As a buyer, you should be doing your research to ensure that you have all of your things in order before you go looking to potentially make an offer on a house.

In the end, the offer working out is dependent on the other offers the seller receives. Sometimes, there will be nothing you can do to get a property if there is a highly motivated other buyer looking to get the property. All you can do is increase your odds. 

First Time Homebuyers?

by Karen Picarello

 

First time homebuyers are an important part of the housing market. If you want to purchase you first home soon, or want to find a way to move towards home ownership, this will be a good post for you. I’ll just put down a brief list of tips which I think will be helpful in your journey.

  1. Get started now. No matter when you think you will be ready to get a house, you should already have your eyes open and be taking steps to realize your goal. Getting started in the winter could give you the chance to examine homes on the market when there is less competition. Motivated sellers who are looking to liquidate their property might be more willing to give you a good deal due to the normal downturn in home sales in the winter. Even if you are not planning on buying soon, it will be good for you to start getting ideas of what type of house you want, what different houses in your area might cost, and the process you will need to follow to purchase a home.
  2. Do your homework. When you get started, it will take a lot more than simply finding the correct house, signing some papers, and moving in. Buying a home is a much more involved process than renting. You will want to do your research on loans available, and ideally will be able to get preapproved for a loan. Having preapproval can be a wonderful tool which helps your search. Either way, make sure you understand all of the different steps you will need to take. Additionally, finding a good real estate agent can be helpful. While this is necessary for sellers, even buyers can benefit from the advice of an experienced professional, and this is particularly true for first time buyers. Having someone who understands the process, and who has your interests at heart can drastically change your buying experience. Don’t be afraid to invest a bit of money in ensuring that your first home purchase goes off smoothly.
  3. Finally, don’t get too attached to any one property. Remember that you will have many opportunities to find a good deal, and that few things can taint a pleasant house as the knowledge that you paid far more than it was worth. Keep your cool, and always take your time to think things over.

 

 

Check Mortgage Overlays

by Karen Picarello

When looking to buy a home, getting approved for a loan can be one of the most frustrating and stressful parts of the process. Many people do not understand the factors that will be at play, and can struggle to get a good idea of their prospects for receiving a loan. One thing that all potential home buyers should be looking at are the factors which determine who is eligible to receive a loan: the mortgage overlay.

Mortgage overlays are the rules and guidelines that lenders use when evaluating potential candidates for loans. There can be several layers of these if you are looking to get a loan. For example, many loans are set up by the federal government, but the federal government is not the entity actually giving the loan. The government sets up its requirements for loan eligibility, and then passes these down to the lenders. The lenders then have a minimum for the loan requirements. If you want that loan: you have to meet those requirements. The requirements are often things such as minimum credit scores, down payment requirements, and documentation.

However, the lender has the option to add more stringent requirements to the loans it disburses. Individuals may then have to meet a higher level of financial security in order to qualify for a certain loan from a certain lender. This means that even though you may meet the federal requirements for the loan, you still can be denied if your lender has additional requirements.

You can use this knowledge to your advantage. If you are looking to get a loan, having conversations with multiple possible lenders can help increase your chances of being successfully approved. Finding out what types of requirements will be needed to have a good chance of securing a loan from a particular lender and comparing these to those other lenders look for can give you the best chance of applying for a loan from a lender who will be examining your financial strengths.

Many people get caught up in the excitement of looking for a new property, and forget that a lot of the time, having a good outcome is the result of meticulous planning and preparation. Mortgages can be with you for a very long time, so it is in your best interest to take the time and do your due diligence in terms of understanding what you can do to get the best possible loan. 

Displaying blog entries 1-4 of 4

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TeamPicarello
RE/MAX Fine Properties North Scottsdale
21000 N. Pima Road, Suite 100
Scottsdale AZ 85255
Office: (480)860-8733
888-548-8713
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