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Thursday, November 16, 2017

6 Tips for Homebuyers in 2018


Are you thinking of buying a home next year? Here is a list of things you need to do first.

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Many of you are considering either purchasing your first home or a larger home in 2018. Before you get started, here are a few things you should consider:

1. Check your credit scores.
These range from 300 to 850. The higher the score, the better mortgage rate you'll get. A good score could get you an interest rate as low as 1% or 2%. That’s thousands of dollars saved every year throughout the life of your mortgage. Your credit score is very important.
   
2. Don’t max out your credit cards. Keep around 30% debt on your card and no more. If you can achieve that, your scores will rise considerably.


3. Don’t overspend or open new credit cards. This is one of the worst traps you can fall victim to as a homebuyer.
   

The higher your credit score, the better.


4. Interview at least three agents and pick the one who is best for you. You want someone who is personable, knowledgeable, and has a good work ethic and communication skills.
   
5. Keep tabs on interest rates. They are in the paper every day. If you have the ability, I'd also research a mortgage broker at this time. They can help research rates for you.
   
6. Get pre-approved before you start looking for homes.

If you get all these things in line before 2018, you'll be way ahead of the game
If you have any questions for me, give me a call or send me an email. I would love to hear from you.

Friday, November 3, 2017

The Pros and Cons of Buying a New Home


Which type of home purchase is best, new or resale? It depends on what you’re looking for, but here are the pros and cons of each.

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Want to buy a home? Search all homes for sale.


If you’re thinking about buying a home, you may be having a tough time deciding between buying an existing home or buying/building a new one. Of course, your budget is always the big player in this, but for the sake of the argument, let’s say you have the ability to do either.

Some of the pros of buying an existing home include the fact that you already know what the home looks like, what the neighborhood looks like, as well as what you can and can’t change about the home. If you want to know exactly what you're getting going in, this is a good option.

However, there are some disadvantages to buying a home on the resale market. These include higher utility costs because of less efficient appliances. There will be additional maintenance costs from time to time as well that you probably wouldn’t see in a brand new home.


Give me a call or send me an email to get your pie reserved.



As far as brand new homes are concerned, the advantages are numerous. You are able to customize the home to your liking. You can make it more spacious, add certain features, and benefit from brand new energy-efficient appliances as well. However, all those upgrades can send the price through the roof. Another thing to know is that in Eugene, all of the prime building sites were taken years ago. If you build a new home around here, it will have to be on the outskirts of the city. Also, with the recent devastation in California, Texas, and Florida, it’s inevitable that building costs are going to rise—just another thing to keep in mind.

I wanted to quickly mention one more thing. If you’re a client of mine, don’t forget that our annual pie day is coming up on November 20th. Give me a call or send me an email to get your pie reserved.

If you have any other questions in the meantime about buying a home or anything else about real estate, don’t hesitate to give me a call or send me an email. I look forward to hearing from you.

Thursday, October 19, 2017

All Your Real Estate Questions Answered


Today I want to take the opportunity to answer some questions I’ve been asked recently about our market.

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Want to buy a home? Search all homes for sale.


Here are some important questions I’ve been getting asked recently about our market and my answers to them.

“Is this still a seller’s market?”

Yes, it is. We’ve only got about two months of inventory and as long as that number stays under six months, we’ll remain in a seller’s market.

“What does the current housing inventory look like?”

Like I said, we currently have two months of inventory, and I don’t see a big change coming in the future. We’ve been at two months of inventory for the last two months, and before that we were as low as 1.6 months. Inventory may creep up as far as three months, but it should stay how it is for a while.

“How does the current inventory affect home values?”


We all know the real answer—as long as we’re in a seller’s market, the price of homes will rise. As I’ve mentioned before, home prices have risen 10% in the past 12 months, and they’re expected to continue at that pace.


We expect home prices to continue rising for the next several years.



“What can we expect from interest rates?”


That’s the good news for both buyers and sellers, because we expect them to stay fairly steady for the next 12 months. It might rise slightly but it won’t do any sharp increases. This will help make homes more affordable for buyers and help sellers have quicker sales.

“Is there a chance we could see a collapse in our market like in 2007 and 2008?”


According to experts, we have more controls and safeguards that will prevent a market collapse from happening. On the contrary, we expect home prices to continue rising for the next several years. As a seller, that’s good news. As a buyer, the sooner you make a purchase, the better off you’ll be.

If you have any more questions you’d like me to answer or you’re thinking of buying or selling a home in our market, don’t hesitate to give me a call or send me an email. I’d love to help you.