Tagged : buyers

Found 7 blog entries tagged as "buyers".

Real estate is changing at a rapid pace and each year brings innovations to the industry. Pushed forward by thought leaders, the real estate industry embraces advancement of products and services quickly, all designed to stay ahead of the competition.

Here are a few tech trends for 2022 that are having people talking.

  • Immersive AR/VR for Property Touring – The pandemic forced a drastic change in the way agents marketed and showed properties to prospective buyers. New technologies are using Artificial Intelligence and Virtual Reality to allow buyers to “walk through” the properties with an immersive experience.
  • Digital Marketplaces for Buyers and Sellers – Nobul is leading the field with its digital marketplace. They offer transparency
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Buying or selling a home can be stressful, even in normal times. Right now, when the housing market is moving at a frenetic pace, both buyers and sellers are making quick decisions and are feeling extreme pressure. As the tension rises, it can be easy to overlook the end goal; right-sized home, relocation, dream home, etc. Try not to lose focus!

Buyer Challenges

Facing a very tight inventory of available properties, buyers have limited time to arrange to tour homes and knowing they must make a quick decision once they have. Buyers do not have the luxury of a second look or hesitation and often are competing against multiple offers, adding to the pressure.

Seller Challenges

Sellers are also feeling the challenge of the frantic pace. While

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Home sellers assume they must make some upgrades before putting their home on the market. While any deferred maintenance or extreme wear-and-tear issues should be addressed, major upgrades or updates may not net more money when you sell; especially with millennial buyers, who are looking for their first home in droves.

6 Common Upgrades Millennial Buyers Won’t Pay Extra For – and 1 They Will

1. Professional Landscaping – Although a nicely maintained yard is attractive to all buyers, over-the-top landscaping with special hardscapes or fountains will not appeal to millennials.

2. Upgraded Utilities – You may appreciate the new plumbing, but buyers will not pay more for copper or PEX pipes or the brand-new junction box.

3. HVAC – Again, new

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Building a home might sound like something reserved for the rich and famous, but the truth is, it might be easier than you think to get a construction loan.

What is a construction loan?

Construction loans are short-term, higher-interest-rate mortgages that cover the cost of building or renovating a home. The buyer qualifies for the final mortgage and the lender pays the contractor for cost on a pre-approved schedule. Once the construction is complete, the loan is converted into a traditional home loan.

Type of Construction Loans

Construction to Permanent – Converts to a permanent loan with the interest rate locked in at closing.

Construction Only – Must be paid off when construction is complete, so the borrower will then need to get

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Mid-Century Modern vs. Contemporary

There has been a great deal of excitement in the design field concerning the MidCentury Modern style. This ’50s and ’60s home décor trend is evidenced in every furniture store as more brands are incorporating the vintage look with modern lines. Yet what differentiates a Mid-Century Modern style from one that is merely Contemporary?

Both styles tend toward the minimalist look, but Mid-Century often features more color. Colorful carpets, walls, and furnishings—as well as vibrant wall trims and wallpaper—are all signs of a Mid-Century room while Contemporary styles lean toward neutral tone-on-tone elements with limited design extras, such as pillows or rugs.

Another common design element is the clean lines of

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Psst. Whisper Listings Are More Common Than Ever

And they’re not only for the ultra-rich and famous!

A private sale — also called an off-market listing or “whisper listing” — is a for-sale property that, at the seller’s request, is not listed in the MLS or marketed in the traditional sense. Historically, this method of home sale has been favored primarily by ultra-wealthy and famous individuals who wish to protect their own privacy, although it is becoming increasingly popular in low-inventory, high-demand markets. While whisper listings can be exciting and lucrative, these ultra-secretive sales demand unconventional marketing and information distribution strategies.

 

Classified: Home Sales of the Rich and Famous

Ultra-rich and/or

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Knowing what you can afford is every bit as important in the home finding process as knowing what kind of home you want.  Affordability includes three things: how much money you will need to borrow, how much you have for a down payment, and what you can comfortably afford as a monthly payment.

Set a budget for yourself and decide how much you are comfortable with and how much you can afford to invest. Be realistic! Most lenders suggest that your payments be no more than 28 percent of your total monthly income.  

To better estimate what you can afford, use an affordability calculator, such as this one from Lending Tree.  It is wise to avoid taking out the largest loan possible because you can risk becoming “house poor” with little or no money

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