Will home prices drop in 2023?

It is no secret that higher interest rates have slowed down the amount of buyers for the past few months, however most people are more concerned about the home prices dropping this 2023. We get asked this question many times throughout the week. Will home prices drop in 2023?

When I bought my first home I didn’t know what I know now in the real estate industry, however I knew that it was a far better decision to pay for my own property than to pay someone else mortgage or simply paying rent for a property that it was never going to be mine. The key here is to change your perspective about waiting for the perfect moment. I have a friend that has been waiting for the perfect moment for the past 15 years and still paying rent. Allow me to highlight that he is more than qualified to purchase a property. His incomes is great, his credit score is great, he has been working in the same industry for over 20 years and he doesn’t have much debts. His mentality has been that there will be a better moment, on the other hand I moved to USA and a year later I was enjoying the benefits of homeownership. I do not say this to brag, but to show you the need for us to switch perspectives. In order for us to change perspective we have to understand the difference between Assets & Liabilities.

What Are Assets?

If you would like to know more about the real estate market in Palm Beach County Florida or would like to know about other resources that can help you become a homeowner soon, feel free to contact us.

Please subscribe to our YouTube Channel for more tips.

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Homes for Sale in West Palm Beach

If you are looking for homes for sale in West Palm Beach or the surrounding areas, you have come to the right place. In this article we will be sharing 5 steps to finding your next home as well as to show you the properties that are currently in the market in West Palm Beach.

5 Steps to Finding Your Next Home – homes for sale

Whether you’re a first-time buyer or a seasoned homeowner, shopping for a new home can feel daunting. In fact, 56% of buyers said that “finding the right property” was the most difficult step in the home buying process.¹ 

Buying a home is a significant commitment of both time and money. And a home purchase has the power to improve both your current quality of life and your future financial security, so the stakes are high.

Follow these five steps—and complete the corresponding worksheet offered below—to assess your priorities, streamline your search, and choose your next home with confidence.

STEP 1: Set Your Goals and Priorities

The first step to finding your ideal home is determining WHY you want to move. Do you need more space? Access to better schools? Less maintenance? Or are you tired of throwing money away on rent when you could be building equity? Pinpointing the reasons why you want to move can help you assess your priorities for your home search. 

Don’t forget to think about how your circumstances might change over the next few years. Do you expect to switch jobs? Have more children? Get a pet? A good rule of thumb is to choose a house that will meet your family’s needs for at least the next five to seven years.² Be sure to set your goals accordingly.

STEP 2: Determine Your Budget – homes for sale

Get Pre Qualified!

Many financial professionals recommend following the “28/36 Rule” to determine how much you can afford to spend on a home. The rule states that you should spend no more than 28% of your gross monthly income on housing expenses (e.g., mortgage, taxes, insurance) and a maximum of 36% of your gross monthly income on your total debt obligations (i.e., housing expenses PLUS any other debt obligations, like car loans, student loans, credit card debt, etc.).³

Of course, the 28/36 rule only provides a rough guideline. Getting pre-qualified or pre-approved for a mortgage BEFORE you begin shopping for homes will give you a much more accurate idea of how much you can borrow. Add your pre-approved mortgage amount to your downpayment to find out your maximum purchasing potential.

STEP 3: Choose a Location – homes for sale

When it comes to real estate, WHERE you choose to buy is just as important as WHAT you choose to buy.

Do you prefer a rural, urban, or suburban setting? How long of a commute are you willing to make? Which neighborhoods feed into your favorite schools? These decisions will impact your day-to-day life while you live in the home.

Another important factor to consider is how the area is likely to appreciate over time. Choosing the right neighborhood can raise the profit potential of your home when it comes time to sell. Look for communities that are well maintained with high home-ownership rates, low crime rates, and access to good schools, desired retail establishments, and top employers.⁴

STEP 4: Decide Which Features You Need (and Want) in a Home for sale

Start with the basics, like your ideal number of bedrooms, bathrooms, and square footage. Do you prefer a one-story or two-story layout? Do you want a swimming pool?

Keep in mind, you may not find a home with all of your “wants,” or even all of your “needs” … at least not at a price you can afford. The reality is, most of us have to make a few compromises when it comes to buying a home.

Some buyers will opt for a longer commute to get a larger, newer home in the suburbs. Others will sacrifice hardwood floors or an updated kitchen so that their kids can attend their desired school. 

If you’re faced with a tough choice about how or what to compromise in your home search, return to STEP 1. What were your original goals and motivations for moving? Reminding yourself of your true priorities can often provide the clarity that you need.

STEP 5: Meet with a Real Estate Agent

Schedule in our calendar

A good real estate agent can remove much of the stress and uncertainty from the home search process. From setting goals to securing a loan to selecting the best neighborhood to meet your needs, we will be there to assist you every step of the way.

And no one has more access to home listings, past sales data, or market statistics than a professional agent. We can set up a customized search that alerts you as soon as a new listing you might like goes live. Better yet, we get notified about many of the hottest homes even BEFORE they hit the market.

You might guess that the VIP service we provide is very expensive. Well, the good news is, we can represent you throughout the entire home buying process at NO COST to you. It’s true; the home seller pays a buyer agent’s fee at closing. So you can benefit from our time, experience, and expertise without paying a dime. It’s no wonder 87% of buyers choose to purchase their home with the help of an agent.¹

And although we’ve listed it here as STEP 5, the reality is, it’s never too early (or too late) to contact an agent about buying a home. Whether you plan to buy today, next month, or next year, there are steps you can (and should) be taking to prepare for your purchase.

Call us today to schedule a free consultation!

The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs.

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New Construction Single Family Homes South Florida

Whether you’re a first-time buyer thirsting for knowledge or a resale homeowner eager to learn more about new construction single family homes south Florida, it’s best to start with an understanding of the differences between a new construction home (for our purposes, a new home) and a previously-owned or resale home.

You can define these properties based on how they differ in four key areas: Construction quality, cost of ownership, design preferences, and energy efficiency. Let’s take a closer look.

Find new construction properties here!

The post New Construction Single Family Homes South Florida appeared first on The Couple Team.

Palm Beach Relocation Guide: 7 Steps to a Seamless Move

Whatever your reasons are for relocating to a new area, the process can feel overwhelming. 

Whether you’re moving across across town or across the country, you’ll be changing more than your address. Besides a new house, you may also be searching for new jobs, schools, doctors, restaurants, stores, service providers and more.

Of course you’ll need to pack, make moving arrangements, and possibly sell your old home. With so much to do, you may be wondering: Where do I start?

In this guide, we outline seven steps to help you get prepared, get organized, and get settled in your new community. Our hope is to alleviate the hassle of relocating—so you can focus on the exciting adventure ahead!

1. Gather Information

If you’re unfamiliar with your new area, start by doing some research.¹ Look for data on average housing prices, demographics, school rankings and crime statistics. Search for maps that illustrate local geography, landmarks, public transportation routes and major interstates. If you’re moving across the country, research climate and seasonal weather patterns.

Check out local newspapers and blogs for information on political issues and developments that could impact your new community. You may also want to search for online forums and Facebook Groups relevant to your new area. These can be a great place to find information, ask questions and just observe local attitudes and outlooks.

If you’re relocating for a job, find out if your new employer offers any relocation assistance. Many large corporations have a designated human resources professional to assist employees with relocation efforts, while others may contract this service out to a third party. Some employers will also cover all or a portion of your relocation and moving costs.

By gathering this information up front, you’ll be better prepared to make informed decisions down the road.

2. Identify Your Ideal Neighborhoods

Once you’ve sufficiently researched your new area, you can start to identify your ideal neighborhoods.

The first step is to prioritize your “needs” and “wants.” Consider factors such as budget; commute time; quality of schools; crime rate; walkability; access to public transportation; proximity to restaurants, shopping, and place of worship; and neighborhood vibe. 

If possible, visit the area in person to get a feel for the community. If you’re comfortable, strike up conversations with local residents and ask about their experiences living in the area.

Still not sure which neighborhood is the best fit for you and your family? Contact a local real estate agent for expert assistance. It’s usually the most efficient and effective way to narrow down your options.

3. Find Your New Home – Click here to get Pre-Qualified!

Once you’ve narrowed down your list of preferred neighborhoods, it’s time to start looking for a home. If you haven’t already contacted a real estate agent, now is the time. They can search for current property listings that meet your needs, typically at no cost to you.

Create another list of “needs” and “wants,” but this time for your new home. Include your basic requirements for square footage, bedrooms and bathrooms, but also think about what other factors are important to you and your family. An updated kitchen? A large backyard? Double sinks in the master bathroom? 

Narrow your list down to your top 10 and prioritize them in order of importance.² This will give you a good starting point to begin your home search. Unless you have an unlimited budget, don’t expect to find a home with everything on your list. But having a prioritized list can help you (and your agent) understand which home features are the most important, and which ones you may be willing to sacrifice.

If you already own a home, you’ll also need to start the process of selling it or renting it out. A real estate agent can help you evaluate your options based on current market conditions. He or she can also give you an idea of how much equity you have in your current home so you know how much you can afford to spend on your new one.

Your agent can also advise you on how to time your sale and purchase. While some buyers are able to qualify for and cover the costs of two concurrent mortgages, many are not. There are a number of options available, and a skilled agent can help you determine the best course given your circumstances.

4. Prepare for Your Departure – Find out how much your property is worth!

While everyone considers packing a fundamental part of moving, we often overlook the emotional preparation that needs to take place. If you have children, this can be especially important. Communicate the move in an age-appropriate way, and if possible take them on a tour of your new home and neighborhood. This can alleviate some of the mystery and apprehension around the move.⁴

Allow yourself plenty of time to pack up your belongings. Before you start, gather supplies, including boxes, tape, tissue paper and bubble wrap. Begin with non-essentials—such as off-season clothes or holiday decorations—and sort items into four categories: take, trash, sell and donate/give away.⁵

To make the unpacking process easier, be sure to label the top and sides of boxes with helpful information, including contents, room, and any special instructions. Keep a master inventory list so you can refer back to it if something goes missing.

If you will be using a moving company, start researching and pricing your options. To ensure an accurate estimate of your final cost, it’s best to have them conduct an in-person walkthrough. Make sure you’re working with a reputable company, and avoid paying a large deposit before your belongings are delivered.⁶

If you plan to drive to your new home, map out the route. And, if necessary, make arrangements for overnight accommodations along the way. If driving is not a good option, you may need to have your vehicles transported and make travel arrangements for you, your family and your pets.

Lastly, if you will be leaving friends or family behind, schedule final get-togethers before your departure. The last days before moving can be incredibly hectic, so make sure you block off some time in advance for proper goodbyes.

5. Prepare for Your Arrival

To make your transition go smoothly, prepare for your arrival well before moving day. Depending on how long your belongings will take to arrive, you may need to arrange for temporary hotel accommodations. If you plan to move in directly, pack an “essentials box” with everything you’ll need for the first couple of nights in your new home, such as toiletries, toilet paper, towels, linens, pajamas, cell phone chargers, snacks, pet food and a change of clothes.⁷ This will keep you from searching through boxes after an exhausting day of moving.

Arrange in advance for your utilities to be turned on, especially essentials like water, electricity and gas. (And while you’re at it, schedule a shut-off date for your current utilities.) Update your address on all accounts and subscriptions and arrange to have your mail forwarded through the postal service. If you have children, register them for their new school or daycare and arrange for the transfer of any necessary records.

You may want to have the house professionally cleaned before moving in. And if you plan to remodel, paint or install new flooring, it’s easier to have it done before you bring in all of your belongings.⁸ However, it’s not always feasible without someone you trust locally who can supervise. Another option is to keep a portion of your things in storage while you complete some of these projects.  

If there are no window treatments, you may need to install some (or at least put up temporary privacy film), especially in bedrooms and bathrooms. And if appliances are missing, consider purchasing them ahead of time and arranging for delivery and installation shortly after you arrive. Just be sure to check measurements and installation instructions carefully so you aren’t stuck with an appliance that doesn’t fit or that requires costly modifications to your new home.

If you own a car, check the requirements for a driver’s license and vehicle registration in your new area and contact your insurance company to update your policy.⁸ If you will rely on public transportation, research options and schedules.

6. Get Settled In Your New Home

While staring at an endless pile of boxes can feel daunting, you should take advantage of this opportunity to make a fresh start. By creating a plan ahead of time, you can ensure your new house is thoughtfully laid out and well organized.

If you followed our suggestion to pack an “essentials box” (see Step 5), you should have easy access to everything you’ll need to get you through the first couple of nights in your new home. This will allow you some breathing room to unpack your remaining items in a deliberate manner, instead of rushing through the process.⁷

If you have young children, consider unpacking their rooms first. Seeing their familiar items can help them establish a sense of comfort and normalcy during a confusing time. Then move on to any items you use on a daily basis.¹⁰

Pets can also get overwhelmed by a new, unfamiliar space. Let them adjust to a single room first, which should include their favorite toys, treats, food and water bowl, and a litter box for cats. Once they seem comfortable, you can gradually introduce them to other rooms in the home.¹¹

As you unpack, make a list of items that need to be purchased so you’re not making multiple trips to the store. Also, start a list of needed repairs and installations. If you have a home warranty, find out what’s covered and the process for filing a service order.

Although you may be eager to get everything unpacked, it’s important to take occasional breaks. Have some fun, relax and explore your new hometown!

7. Get Involved In Your New Community

Studies show that moving can lead to feelings of loneliness and depression. People who have recently moved tend to be isolated socially, more stressed, and less likely to participate in exercise and hobbies. However, there are ways to combat these negative effects.¹²

First, get out and explore. In a 2016 study, recent movers were shown to spend less time on physical activities and more time on their computers, which has been proven to lead to feelings of depression and loneliness. Instead, get out of your house and investigate your new area. And if you travel by foot, you’ll gain the advantages of fresh air and exercise.¹²

Combat feelings of isolation by making an effort to meet people in your new community. Find a local interest group, take a class, join a place of worship or volunteer for a cause. Don’t wait for friends to come knocking on your door. Instead, go out and find them.

Finally, be a good neighbor. Make an effort to introduce yourself to your new neighbors, invite them over for coffee or dinner, and offer assistance when they need it. Once you’ve developed friendships and a support system within your new neighborhood, it will truly start to feel like home.

LET’S GET MOVING

While moving is never easy, these seven steps offer an action plan to get you started on your new adventure. To avoid getting overwhelmed, focus on one step at a time. And don’t hesitate to ask for help!

In a 2015 study, 61 percent of participants ranked moving at the top of their stress list, above divorce and starting a new job.¹³ But with a little preparation—and the right team of professionals to assist you—it is possible to have a positive relocation experience.

We specialize in assisting home buyers and sellers with a seamless and “less-stress” relocation. Along with our referral network of movers, handymen, housekeepers, decorators, contractors and other service providers, we can help take the hassle and headache out of your upcoming move. Give us a call or message us to schedule a free, no-obligation consultation!

Check out our YouTube video: Pros & Cons of living in West Palm Beach.

The post Palm Beach Relocation Guide: 7 Steps to a Seamless Move appeared first on The Couple Team.

Ways to Write a Winning Offer in Today’s Real Estate Market

Our nation is in the midst of a serious housing crunch. Last year, a lack of inventory and soaring prices left many would-be homebuyers feeling pinched. But now, with interest rates climbing, many of them are also feeling desperate to lock in a mortgage—which has only added fuel to the fire.¹

Fortunately, if you’re a buyer struggling to find a home, we have some good news. While it’s true that higher mortgage rates can decrease your purchasing budget, there are additional ways to compete in a hot market.

Yes, a high offer price gets attention. But most sellers consider a variety of factors when evaluating an offer. With that in mind, here are five tactics you can utilize to sweeten your proposal and outshine your competition.

We can help you weigh the risks and benefits of each tactic and craft a compelling offer designed to get you your dream home—without giving away the farm.

Check out our YouTube channel for more real estate tips.

Demonstrate Solid Financing

The reality is, no one gets paid if a home sale falls through. That’s why sellers (and their listing agents) favor offers with a high probability of closing. 

Sellers particularly love all-cash offers because there’s no chance of financing issues cropping up at the last moment. But don’t despair if you can’t pay cash for your home. According to the National Association of Realtors, only about 1 in 4 home purchases are all-cash deals, which means the vast majority are financed with a mortgage.²

If sellers are assured that financing will come through, buying with a mortgage doesn’t have to be a big disadvantage. The most important step you can take as a buyer is to get preapproved before you start looking for homes. A preapproval letter shows sellers that you are serious about buying and that you will be able to make good on your offer. 

It’s also important to consider the reputation of your lender. While sellers may not know or care about a lender’s reputation, their agents often do. Some lenders are much easier to work with than others, especially if you are pursuing certain types of mortgages like FHA or VA loans.³ If so, you’ll want a lender who specializes in these types of mortgages. If you’re unsure who to choose, we are happy to refer you to reputable lenders known for their ease of doing business. 

Learn more about the buying process! Click here!

Put Down a Sizeable Deposit

Buyers can show sellers that they’re serious about their offer and have “skin in the game” by putting down a large earnest money deposit. 

Earnest money is a deposit held in escrow by a title company or the seller’s broker or lawyer.  If the purchase goes through, it is applied to the down payment and closing costs—if the sale falls through, the buyer may lose some or all of that deposit.

While an earnest money deposit is typically around 1-2% of the sale price, offering a higher deposit can help demonstrate to the buyer that you are serious about the property.⁴ However, this strategy can also be risky. We can help you determine an appropriate deposit to offer based on your specific circumstances.

Ask for Few (or No) Contingencies

Most real estate offers include contingencies, which are clauses that allow one or both parties to back out of the agreement if certain conditions are not met. These contingencies appear in the purchase agreement and must be accepted by both the buyer and seller to be legally binding.⁵

Common contingencies include:

• Financing: A financing contingency gives the buyer a window of time in which to secure a mortgage. If they are unable to do so, they can withdraw from the purchase and the seller can move on to other buyers.
• Inspection: An inspection contingency gives the buyer the opportunity to have the home professionally inspected for issues with the structure, wiring, plumbing, etc. Typically, the seller may choose whether or not to remediate those issues; if they do not, the buyer may withdraw from the contract.
• Appraisal: Most lenders will not offer a mortgage on a home that costs more than it’s worth. An appraisal contingency gives the buyer an opportunity to get the home professionally assessed to ensure that its value is at or above the sales price. If an appraisal comes in low, the seller may be asked to renegotiate the contract.
• Sale of a prior home: Some buyers cannot afford to purchase a new home until they sell their previous one. If the buyer is unable to sell their current home within a specified window of time, this contingency enables them to withdraw from the contract without penalty.

Since contingencies reduce the likelihood that a sale will go through, they generally make an offer less desirable to the seller. The more contingencies that are included, the weaker the offer becomes. Therefore, buyers in a competitive market often volunteer to waive certain contingencies.

However, it’s very important to make this decision carefully and recognize the risks of doing so. For example, a buyer who chooses to waive a home inspection contingency may find out too late that the home requires extensive renovations, and a buyer who waives the appraisal may risk their mortgage falling through. If you back out of a home purchase without the protection of a contingency, you could lose your earnest money deposit.⁶ We can help you assess the risks and benefits involved.

Offer a Flexible Closing Date and/or Leaseback Option

When it comes to selling a house, money isn’t everything. People sell their homes for a wide variety of reasons, and flexible terms that work with their personal situations can sometimes make all the difference. For example, if a seller is in the process of planning a significant move, they may prefer a longer closing timeline that gives them time to find housing in their new location. 

Similarly, short-term leaseback options, in which the sale is completed but the seller retains the right to rent the home for a specified period of time, can be compelling.⁷ These arrangements enable the seller to use the money from the sale of their home to purchase their next house. A leaseback agreement also makes it possible for them to avoid moving twice when their next home is not yet ready to occupy.

Flexible closing dates and leaseback options can provide a powerful advantage for first-time homebuyers. If you have a month-to-month or easily transferable lease, for example, you may be able to offer a more flexible timeline than a buyer who is simultaneously selling their existing home.

Of course, the value of these terms depends on the seller’s situation. We can reach out to the listing agent to find out the seller’s preferred terms, and then collaborate with you to write a compelling offer that works for both parties. 

Check our reviews!

Work With a Skilled Buyer’s Agent

In this ultra-competitive real estate market, one of the greatest advantages you can give yourself is to work with a skilled and trustworthy real estate professional. We will make sure you fully understand the process and help you submit an appealing offer without taking on too much risk. 

Plus, we know how to write offers that are designed to win over both the seller and their listing agent. The truth is, listing agents play a huge role in helping sellers evaluate offers, and they want to work with skilled buyer’s agents who are professional, communicative, and courteous. 

Once your offer is accepted, we’ll also handle any further negotiations and coordinate all the paperwork and other details involved in your home purchase. The best part is, you’ll have a knowledgeable, licensed advocate on your side who is watching out for your best interests every step of the way.

Helping You Get to the Right Offer

In many cases, a competitive offer doesn’t need to be all-cash, contingency-free, or significantly above asking price. But if you’re serious about buying a home in today’s market, it’s important to consider what you can do to sweeten the deal.

If you’re a buyer, we can help you compete in today’s market without getting steamrolled. And if you’re a seller, we can help you evaluate offers by taking all the relevant factors into account. Contact us today to schedule a free consultation.

Sources:

1. National Association of Realtors –
   https://www.nar.realtor/newsroom/pending-home-sales-dwindle-4-1-in-february
2. National Association of Realtors –
   https://www.nar.realtor/newsroom/existing-home-sales-fade-7-2-in-february
3. Forbes –
   https://www.forbes.com/advisor/mortgages/housing-crisis-tips/
4. Realtor.com –
   https://www.realtor.com/advice/finance/earnest-money-deposit-mistakes-buyers-make/ 
5. Bankrate –
   https://www.bankrate.com/real-estate/contingency-clause/
6. Home Buying Institute –
   http://www.homebuyinginstitute.com/mortgage/risks-of-waiving-a-contingency/
7. Realtor.com –
   https://www.realtor.com/advice/sell/what-is-a-rent-back-agreement

The post Ways to Write a Winning Offer in Today’s Real Estate Market appeared first on The Couple Team.

The post Expenses associated with buying a house in West Palm Beach? appeared first on The Couple Team.

Do I Really Need Title Insurance? | Home Buying Process

The post Do I Really Need Title Insurance? | Home Buying Process appeared first on The Couple Team.

HOA Advantages and Disadvantages

As a real estate agent in Palm Beach County Florida, this is the most frequently question that we get asked from out of state people interested in moving to West Palm Beach, and want to understand better what is like to be living in Palm Beach County Fl. To understand this better it is imperative to understand what is an HOA (Homeowner’s association).

HOA structure is designed to help maintain a clean and cohesive atmosphere in the neighborhood. Also, when you buy a condominium, townhouse, or single-family home within “a planned development” you may also encounter the HOA structure.

While the HOA will at times spare the homeowner from some responsibilities they can also come with some homeowner obligations. Before you buy a home that makes you part of an HOA, here’s what you need to know, and the questions you should ask both the association and you and your family.  Below the hoa advantages and disadvantages:

Pros:

• The homeowners association pays for common areas like swimming pools, spas, tennis courts, parks, private roads, sidewalks and clubhouses. That means you are able to enjoy a pool without having to maintain or clean it, or enjoy a playground or garden without the hassle of maintenance.
• Some HOA’s also offer services like lawn maintenance to keep the neighborhood looking good all the time. You don’t have to hire someone yourself and your property always looks pristine.
• Homes within HOA communities typically maintain their values better than non HOA deed restricted communities. By regulating the appearance of common areas your curb appeal and home price tend to be higher.
• Often, HOAs promote a strong sense of community. Friends can gather at the clubhouse or common areas, people get to know their neighbors, and there are usually social functions planned year round.
• Issues with neighbors like unwanted cars parked in front of your house are handled by the association, taking the pressure (and responsibility) off of residents.

The post What are the HOA Advantages and Disadvantages? appeared first on The Couple Team.

How to find the right agent in today’s Real Estate market

This is not the typical article about how to find the right real estate agent in today’s  real estate market to sell a house, how to find a realtor first time home buyer or even real estate agent for rentals.

This article will take you deep into the one single asset that an agent must have that will help you in any transaction and that is communication.  Can you believe that a higher percentage of people don’t feel completely satisfy with their agent even after a successful transaction?

Many people believe that they were not completely informed about everything that they needed to know throughout the process. It all start when people are choosing their agent based on referrals, websites, social media platforms etc., and they didn’t analized this agent’s communication and personality traits. Let’s be honest, unless you do not work in any selling career or medical field, people don’t go around studying people’s behavior.

I, Edwin Gonzalez Ortiz have been in sales careers since 1998, however it wasn’t until 2017 that I started studying about the different people’s personalities and this is when my sales career exploded in many ways. We are not talking about just money, I am talking about my desire to helped others increased significantly since now I was able to understand people’s needs much better. When you understand the different types of personality is like having a superpower. Now you are able to adapt to other people’s personalities. You get to be in their shoes and see things the way they do. The only difference is that you have knowledge that they don’t and it would be selfish if you do not share that knowledge with them.

So, let’s go back to the actual topic here. How to find the right agent in today’s Real Estate market

In today’s competitive market it is imperative for an agent to use different sources of marketing. I am not talking about marketing properties, I am talking about using this platforms to let other knows about their business vision. This would give you an understanding about their business ethic.

Now when you sit with them, pay attention on who is talking the most. Whoever talks less is the one actually guiding the conversation. I great agent will let the customer do most of the talking to understand their needs.

After you have identify that their level of communication goes with your needs, make sure that they also have this traits or they have this resources. (Based on your needs)

Selling? how to sell a house fast

• Marketing knowledge.
• Market Knowledge.
• Large network.

Buying? how to find a realtor first time home buyer

• Knowledgeable about different lending programs.
• Market Knowledge.
• Contractors

Renting? real estate agent for rentals

• Agent who is local and knowledgeable to the desired area.
• Disponibility with your own schedule.

If you want to know more about this topic, take a look at this YouTube video. 

The post How to find the right agent in today’s Real Estate market appeared first on The Couple Team.

How To Buy a House With No Money in 2022 | Incentives

Buying a home is more accessible than many people think.

Gone are the days of needing tens of thousands of dollars to become a homeowner. Today, you don’t need a 20 percent down payment to buy a home. In fact, there are no-money-down mortgages available to you right now.

If you’re wondering how to buy a house with no money down, keep reading to start your journey to homeownership.

Thirty-eight percent of prospective buyers say that saving for a down payment is their biggest obstacle to homeownership. Considering the median home sale price of $356,700, the average first-time buyer would spend $24,969 on a down payment.

But you can buy a house without that $25,000.

There are resources for down payment assistance that provide a clear path to homeownership. Current legislation awaiting a vote in Congress would offer $15,000 tax credits and $25,000 grants to first-time buyers.

Better still, you don’t have to wait for new federal legislation to buy your first home. Here’s how you can buy a house with no money down today.

If you could live in your dream home for zero dollars down, would you still choose to rent?

You don’t need a huge down payment to buy a home. These no down payment options exist to help first-time home buyers start building equity.

But what about closing costs?

There’s also down payment assistance available to help you get a mortgage with no money out of pocket. Federal, state, and non-profit agencies — and even mortgage lenders — offer grants and loans to support first-time buyers.

1. Homebuyer Down Payment Assistance

Down payment assistance (DPA) can help you buy a home without immediate cash. This includes several federal, state, and non-profit programs for first-time home buyers.

At Homebuyer, we partner with the Chenoa Fund to make homeownership possible without paying anything out of pocket.

Through our partnerships, Homebuyer.com provides DPA for buyers purchasing a home with an FHA loan, offering an affordable and user-friendly path to homeownership.

Buyers have two choices — a 3.5 percent second loan to cover your down payment, or a 5 percent second loan to cover down payment and closing costs

If you’re a middle-income earner, or lower, the second loan has zero interest and no monthly payments. Plus, it’s a forgivable second mortgage. If you make your housing payments on time, the loan is forgiven and you never have to pay it back.

The 3.5 percent option is forgiven after you make your first 36 mortgage payments on time.

The 5 percent option is forgiven after you make 10 years of payments without falling 60 or more days behind. If you do fall behind, there is still no interest and no payments — you’ll just have to pay back the second lien when you sell or refinance the house.

If you’re a higher-income earner, the second loan has a monthly payment. Buyers can choose a 10-year loan with no interest, or a 30-year loan with 5 percent interest.

Down payment assistance programs typically have credit history and income requirements. Programs for first-time home buyers may require completion of a mortgage education course.

These down payment assistance options are available now and you can apply here.

2. USDA Loans With No Money Down

USDA loans have no down payment requirements or credit score minimums. Designed to encourage increased homeownership in rural areas, these loans provide subsidized interest rates.

Applicants must prove creditworthiness. Lenders typically require a credit score of 620 or higher to apply.

USDA loan applicants must:

• Be a legal permanent U.S. resident
• Prove creditworthiness
• Maintain dependable income
• Have a household income matching 115 percent of the area’s median income or lower
• Be the primary residence in a rural area

USDA mortgages can be used to purchase these property types:

• Existing home
• New construction
• Manufactured homes
• Condos
• Townhouses
• Short sale or foreclosed homes

Buyers are typically responsible for closing costs, lender fees, and mortgage insurance, though there are opportunities to have some of these expenses covered by the seller or your lender.

You can receive seller concessions and lender credits, where the seller and lender will pay some, or all, of your closing costs.

3. VA Home Loans With No Down Payment

VA loans provide home-buying options for U.S. military members, veterans, and their spouses. Like USDA loans, VA loans have no down payment or credit score requirements, though most lenders prefer a credit score of 580 or higher.

You must have a certificate of eligibility (COE) to apply for a VA loan. This certifies your service history and current duty status to prove you’re eligible.

VA eligibility requires:

• You served 90 days of active wartime service
• You served 180 days of active peacetime service
• You served six years in the National Guard or Reserves
• You’re the spouse of a service member who died in the line of duty or following a service-related disability

The VA guarantees loans against losses with an entitlement, which is similar to private mortgage insurance. This allows lenders to offer a zero-down payment purchase with less risk and lower rates.

VA loan borrowers are exempt from certain closing costs, like underwriting and attorney fees.

Conventional Loan 97 for First-Time Home Buyers

The Conventional Loan 97 allows borrowers to secure a conventional loan mortgage with a 3 percent down payment. Personal contribution isn’t required. Gifts, grants, and other DPA can cover your down payment.

The Conventional Loan 97 is an alternative to FHA loans. It has fewer up-front costs and no permanent mortgage insurance requirements.

Borrowers must meet the following criteria to be eligible:

• At least one borrower must be a first-time home buyer
• Mortgages must have a fixed-rate interest

The Conventional Loan 97 can’t be used to purchase manufactured homes. Eligible property types include single-family homes up to four units, condos, and planned developments.

HomeReady mortgages from Fannie Mae are another loan option for low-income buyers. Borrowers are eligible with a 3 percent down payment and a credit score of 620 or higher.

Home buyer education is required if all borrowers are first-time home buyers. All residents may submit their income for consideration and improve chances of approval.

There are also no minimum personal contribution requirements for the down payment. This investment can be covered by gifts, grants, and other DPA programs.

HomeReady loans require mortgage insurance that can be canceled once the buyer reaches 20 percent equity.

Freddie Mac Home Possible Mortgages

Freddie Mac’s Home Possible loans offer low down payment mortgages with a minimum 3 percent down payment. Down payment funding is flexible with no personal cash requirements.

A credit score of 660 or higher is required for approval. Borrowers’ income can’t exceed 80 percent of the area median income (AMI), which is available on the Freddie Mac site.

Home Possible mortgages may require mortgage insurance and buyers can cancel their policy when they reach 20 percent equity.

FHA Loans for Buyers With Low Credit Scores

FHA loans have a minimum 3.5 percent down payment requirement for borrowers with a credit score of 580 or higher. FHA loans have flexible credit score requirements. Borrowers with scores as low as 500 are eligible for approval if they invest a down payment of 10 percent or more.

FHA loans also require proof of employment and income. Borrowers must have a debt-to-income ratio of 43 percent or less to qualify under standard guidelines, but FHA may allow ratios up to 56.9 percent with compensating factors.

FHA loans can only be used to purchase a primary residence. County-specific loan limits apply, reaching up to $822,375 in high-cost areas.

Conventional Loans With 3 Percent Down

Conventional loans are the most popular loan type among buyers. Standard conventional loans require a minimum 3 percent down payment with a credit score of 620 or higher.

Conventional loans require mortgage insurance with a down payment under 20 percent.

Conventional loans aren’t backed by the government, so lender requirements may vary. Conforming conventional loan limits follow FHFA standards. The current loan limit is $548,250 for single-unit homes in most U.S. counties.

How To Buy a House With No Money FAQs

With the right loan type, many first-time home buyers can buy a house with no up-front costs. You don’t need to save a 20 percent down payment.

When you buy a house with no money down, you can lock in your housing payment long term, protect yourself from rent increases, and you can build wealth with a similar monthly payment as your rent.

What credit score do I need to buy a house?

You can buy a house with a credit score as low as 580, and sometimes lower depending on your lender.

VA and USDA loans have no official minimum, though lenders are most likely to approve buyers with a credit score of 580 or higher.

Conventional loans require a credit score of 620 or higher.

You may still qualify for a loan with a credit score below 580. FHA loans accept credit scores as low as 500 if you can make a 10 percent or higher down payment. Consult with your lender to determine your options.

Are there no down payment loans available?

Homebuyer’s down payment assistance program, along with VA and USDA loans, have no down payment requirements for qualification.

Each loan type has other eligibility requirements for approval. VA loans are only available to service members and veterans who meet duty requirements, as well as their spouses.

USDA loans can only be used to purchase rural properties. This covers 91 percent of the U.S., including rural areas, small towns, and suburbs. This excludes densely populated metropolitan areas.

How can I save money for a down payment?

Down payment assistance programs help first-time and low-income buyers afford a home. Each program has specific eligibility requirements.

Some loans are flexible and accept down payments entirely funded through gifts, grants, and loans. You may not have to contribute your own savings. This includes DPA funds and assistance from family or friends.

Otherwise, the best way to save is with a comfortable budget and savings plan. Determine which loans you’re eligible for and their down payment requirements to set a goal. Consider how much you can save each month to determine your home-buying timeline.

Is private mortgage insurance (PMI) bad?

Mortgage insurance isn’t good or bad. Lenders may require PMI to protect their investment in case a borrower can’t continue to make payments. And this protection is what allows lenders to offer so many low down payment mortgage options.

Some loan types require PMI, and it’s also required for borrowers who make a down payment less than 20 percent of the home’s sale price. Some policies exist for the life of your loan, while others can be canceled once homeowners reach 20 percent equity.

Homeowners pay PMI up-front, with an additional monthly payment, or a combination of the two.

Consider this: Home prices are generally increasing. The additional monthly PMI payment may be more cost-effective than waiting until you have a larger down payment.

Consider what loan types you’re eligible for and their mortgage insurance requirements. Anticipate additional expenses and budget accordingly.

Low and no down payment mortgages make homeownership accessible for first-time buyers. Know which loans you’re eligible for when you’re thinking about how to buy a house with no money. Then, get pre-qualified for the mortgage of your choice once you’re ready to start house hunting.

Article courtesy of: Dan Green and Novus Home Mortgage

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