The homebuying process comes with a language all its own, and two of the terms you may have heard are prequalified and preapproved. While both can be essential parts of obtaining a mortgage and buying a home, you may not know what they mean. Check out the information below to learn how each term may benefit you during your home search.
Your 2022 Homebuying Game Plan
Over the past year, the real estate market has been marked by unpredictability and, at times, overheated competition. This has resulted in some buyers bowing out after one too many disappointments while other potential buyers put off their home-buying plans, hoping that things would settle down.
Whichever type of buyer you are, you may be thinking ahead to the new year and planning to begin a search for a new home. If so, it’s vital to prepare yourself for the challenges—and opportunities—that lie ahead.
Will Housing Inventory Increase in 2022?
If you’ve been following the real estate market, you probably know that it has been many months since buyers and sellers enjoyed anything like business as usual, with record-low interest rates and inventory in markets both large and small. But now we may be able to envision a return to a real estate market that’s a little more like normal.
6 Things to Do Before Moving into Your New Home
After closing on your new home comes the excitement of planning where to put all your belongings. Which room is right for your comfy recliner? Which will be best to feature your favorite piece of artwork?
Before you start unpacking your belongings, there are several tasks you should consider completing before moving day. These jobs are easier to complete in an empty home but also will make your new house much homier when you move in.
Why a Home’s Permit History is Important
During the home-buying process, you will receive a lot of information about the history of the house as well as its current condition. The home inspection and disclosure statement can give you peace of mind before closing on a property.
However, an inspector can only provide information on what they can see, and the homeowner may only be able to provide you details from when they lived in the home—and only to a certain extent. You may want further confirmation that the home is in the condition you think it is. By obtaining the home’s building permit history, you can be confident in the home’s repairs and alterations.
How to Choose the Ideal Home Location
What Buyers and Sellers Can Expect from the Spring 2021 Market
In 2020, just as the spring market was heating up, it was unceremoniously brought to a standstill by the shutdowns and precautions associated with the COVID-19 pandemic. Since then, both buyers and sellers have seen a host of ups and downs that added up to one of the most active, and in some ways frustrating, real estate markets on record.
What to Expect from the Closing Process
When you watch a show on HGTV where an eager young couple is looking for a home, it usually ends when the offer is accepted. In real life, however, that is only the beginning of the story. The closing or escrow process has its own rules and challenges. By being prepared for each step of the process, you’ll be able to stay calm, cool, and collected—even if the unexpected occurs.
Preparing for a 2021 Home Purchase
While you may have been ready to buy a home during the 2020 spring market, the uncertainties caused by the pandemic may have put a damper on your plans. At this point, you may be uncertain about your post-COVID-19 real estate goals and unsure whether the opportunity to work from home will inspire you to move to another market or another type of home.
Finding a Home in a Low Inventory Market
One of the most common refrains that has come out of the very hot 2020 real estate market is the message that this is a perfect time to sell a home. Record low interest rates combined with a low inventory market and a shortened spring market means that demand is high and, in many areas, homes are selling for prices well above asking with multiple offers.