Thursday, June 16, 2022 / by April Griffith
As we move further into the summer, the temperatures aren’t the only thing picking up! The number of DE and PA residents planning to buy a new home is rising— as it tends to do during these warmer months! As the summer continues, the local real estate markets in Delaware and Pennsylvania will see a much larger influx of homebuyers.
So now that homebuyers are flocking to local markets, how can you stand out? Grab a pen and paper and make yourself a checklist to ensure you’re on the right track to buy a home in Delaware or Pennsylvania.
Here are a few tips to give you that homebuyer edge over the others this year:
Clean Your Finances
After you spring cleaned your home this year, it’s time to turn to your finances. A seller doesn’t know your financial situation, so despite how confident you are in obtaining a mortgage, they might not feel the same. Oftentimes when sellers are in a rush to sell, they do not want to worry about financing potentially fallingk ...
Thursday, June 2, 2022 / by April Griffith
Summer is upon us and it's an exciting time in local real estate! The conditions are ideal for moving, homebuyers are feeling motivated, and Delaware and Pennsylvania home sellers are ready for a change of scenery. However, despite the market statistics on rising mortgage rates and housing prices, there are still a few buyers on the fence.
If you find yourself wondering if now is the right time to buy in Delaware or Pennsylvania, consider these top five reasons to own a home:
Paying rent is not the best investment
If you're currently renting, ask yourself where your money is going every month. When you rent a home in DE or PA, you are paying down your landlord's mortgage, not your own. When you own a home, you are paying down your own mortgage and putting your money into a much more solid investment.
It motivates you to get involved
Owning a home can be a great boost of community pride for Delaware and Pennsylvania residents. It motivates you to get out and get involved in local ek ...
Thursday, February 24, 2022 / by April Griffith
Real estate has just been voted the best investment for the eighth year in a row— better than stocks, gold, and savings! But that’s not all real estate can hold its own against by comparison.
Real estate is also a time-honored inflation hedge. In fact, for the last decade, home price appreciation has beat inflation by several percentage points.
During times where inflation is mounting, rising costs of rent can also be a major concern. However, as a homeowner, fixed-rate mortgages can help you keep your monthly housing payment the same.
“A fixed-rate mortgage allows you to maintain the biggest portion of housing expenses at the same payment. Sure, property taxes will rise and other expenses may creep up, but your monthly housing payment remains the same,” said James Royal, Senior Wealth Management Reporter at Bankrate. “That’s certainly not the case if you’re renting.”
Homeowners are essentially shielded from increasing rental prices a ...
Thursday, January 27, 2022 / by April Griffith
Once you’ve found your dream home in Delaware or Pennsylvania, it can be hard to erase the picture from your mind. You start to envision yourself living in the space, how your furniture will fit, and what paint colors you will choose. But in today’s real estate market, you may find yourself competing with cash buyers who can snag the home quicker and easier than those with financing.
You will need an edge to land the property over those cash buyers and below are a few ways for you to do just that:
Be straightforward about your finances
Sellers often accept cash deals as every aspect of the transaction is laid out on the table for them to see. As a buyer with financing, it is essential that you do the same if you are to compete with cash buyers. Be straightforward with your finances— provide a pre-approval letter, allow your lender to provide financial details with your offer so the seller can feel confident in accepting it. Documents like bank statements and creditk ...
Thursday, December 2, 2021 / by April Griffith
When it comes to buying a home in Delaware and Pennsylvania, you would be surprised by the number of potential buyers that sit back because they do not think they will qualify for a mortgage. However, the reality is that qualifying for a mortgage is simpler than you think and as a result, you are missing out on the many benefits of homeownership!
If you're sick of renting, given the increasing costs each year, and are ready to settle into a place of your own, now is the time! Don't allow yourself to put off homeownership any longer, just research the facts.
Consider the following your checklist of what it takes to qualify for a mortgage in Delaware and Pennsylvania:
1. A Down Payment
Did you know nearly half of all homebuyers believe 20 percent is required as a down payment? With today's mortgage requirements, that is just not the case. Many homebuyers today are purchasing a home with as little as 3 to 5 percent down. There are many loan programs available to you that no lonk ...