Lori Blank

16

May

Home Buyer Tips

How to Discuss Repairs or Defects with a Seller

When it comes to selling a home, it is a common belief that once the offer is accepted, there is nothing else to be negotiated. However, issues and obstacles that can arise during the home inspection can be a cause for discussion with the seller. Whether you're currently searching for houses or your offer has already been accepted and you're preparing for the next step, here are some tips in the event that the home inspection isn't up to par. Be Cautious About What You Say Without a doubt, anything that you discuss with the real estate agent regarding the…

15

May

By Lori Blank

Real Estate

Real Estate Agents: Buyer’s vs. Seller’s Agents and Dual Representation

The roles of buyer's agents and seller's agents often swirl together in a complex dance of negotiations, contracts, and property evaluations. Understanding the distinctions between these two types of agents is crucial for consumers looking to navigate the labyrinth of buying or selling a home. Moreover, there's a scenario where one agent might take on both roles, adding another layer of intricacy to the process. What is a Buyer's Agent? A buyer's agent represents the interests of the buyer in a real estate transaction. They act as advocates for the buyer, assisting them in finding suitable properties, negotiating deals, and…

14

May

By Lori Blank

Real Estate

Understanding Closing Costs When Buying a Home

Buying a home is an exciting journey, but it's not without its twists and turns. One specific daunting aspect for many homebuyers is understanding the sphere of closing costs. These additional expenses can catch even the most prepared buyers off guard if they're not properly understood. So, let's discuss the world of closing costs and shed some light on what to expect when purchasing your dream home. Appraisal Fees: Before finalizing a mortgage, lenders typically require an appraisal to ensure the property's value aligns with the loan amount. Appraisal fees can vary depending on the size and location of the…

13

May

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – May 13th, 2024

An extremely light week following the FOMC, with the only note-worthy reporting being the Consumer Sentiment reports from the University of Michigan, which gives a long term outlook of the consumer on the economy. The report has come in well under expectations, much more so than any previous release in the last 6 months. This is largely due to the increase in the cost of living for every sector. Consumer Sentiment The University of Michigan’s gauge of consumer sentiment fell to 67.4 in a preliminary May reading, down from 77.2 in the prior month. Primary Mortgage Market Survey Index 15-Yr…

10

May

By Lori Blank

Homeowner Tips

Understanding, Paying, and Benefiting from HOA Fees

Are you considering purchasing a property governed by a Homeowners Association (HOA)? If so, you've probably come across the term "HOA fees." What exactly are these fees, who pays them, and why are they necessary? What Are HOA Fees? HOA fees, short for Homeowners Association fees, are regular payments made by homeowners to the HOA that governs their community. These fees are typically used to cover various expenses associated with maintaining and managing the common areas and amenities within the community. What Do HOA Fees Cover? Maintenance and Repairs: One of the primary purposes of HOA fees is to cover…

09

May

By Lori Blank

Real Estate

A Guide to Home Security Systems

In today’s world, where the safety of our homes and loved ones is paramount, investing in a robust home security system is essential. Whether you're a homeowner or renting, ensuring your peace of mind through effective security measures is achievable. Let's discuss the essentials of home security systems and how you can fortify your home against potential threats. Understanding Home Security Systems Home security systems encompass a range of devices and technologies designed to protect your home from intruders, emergencies, and other threats. These systems typically include: Alarm Systems: Alarm systems are the backbone of home security. They include sensors…

08

May

By Lori Blank

Real Estate

Exploring the Pros and Cons of Buying a New Construction Home

Are you contemplating whether to dive into the real estate market and invest in a new construction home? It's an exciting prospect, but like any significant decision, it comes with its own set of pros and cons. We will discuss the intricacies of this choice to help you navigate your way through. Pros Customization: One of the most enticing aspects of purchasing a new construction home is the ability to customize it to your preferences. From floor plans to fixtures, you often have a say in the design process, allowing you to create a space tailored to your needs and…

07

May

By Lori Blank

Real Estate

Your Guide to Securing Your Dream Home at the Best Price

Are you ready to start the journey of acquiring your dream home? One of the most exhilarating yet daunting steps in this process is negotiating the deal. Whether you're a first-time buyer or a seasoned investor, mastering the art of negotiation can make all the difference in securing your dream home at the best possible price. In this guide, we'll explore some effective real estate negotiation strategies to help you navigate this crucial phase with confidence. Research, Research, Research: Before diving into negotiations, arm yourself with knowledge. Research the local real estate market, recent sale prices of similar properties in…

06

May

By Lori Blank

Financial Reports

What’s Ahead For Mortgage Rates This Week – May 6th, 2024

Week in Review With the passing of the Federal Open Market Committee rate decision panel, we now have definitively confirmed that the Federal Reserve intends to keep the rates at a two-decade high, for the sixth straight meeting by a unanimous vote. Jerome Powell had stated during the Q&A that they do not intend to cut rates until they have confidence that inflation will, “sustainably stay lower than the 2% objective.” Lending partners have responded in kind by a rush in an increase of rates the last three weeks in a row, with expectations tempered about impending rate cuts any…

03

May

By Lori Blank

Home Values

The Pros and Cons of Buying a Home with a Backyard Oasis

When hunting for the perfect home, the idea of having an oasis nestled in the comfort of your backyard is undeniably appealing. You can picture the lush greenery, a serene water feature, and perhaps a cozy fire pit to gather around with loved ones. It’s a dream many aspire to achieve. But like any significant decision, there are both pros and cons to consider before taking the plunge into this scenic lifestyle. Let’s start with the positives Serene Retreat: Your backyard oasis serves as a sanctuary from the hustle and bustle of daily life. It’s a place where you can…