My Advice for Homebuyers in Today’s Market

Here’s a great example of why you should buy a home sooner than later.

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Does it make sense to buy in today’s market? I’ve been hearing this question a lot lately, and I wanted to offer insight into why my answer is a resounding, “Yes!”

I recently saw a colleague of mine post about a house they sold in 2012 for $360,000; it’s a gorgeous home. The exact same house, with just a few updates, just sold for $692,000. That’s $330,000 worth of appreciation in just about 10 years. 

Now, the home didn’t increase in value by $30,000 every year. In the last few years, home prices have grown exponentially. Most of that value came within the last 12 to 18 months. The house might have gone from $450,000 to $692,000 during that time. 

I didn’t see this coming, and I don’t think anyone in their right mind would have thought the real estate market would be rebounding like this amidst a global pandemic.

"In the last few years, home prices have grown exponentially."

 

So does it make sense to buy in this market? Absolutely; real estate is a fantastic long-term investment. I guarantee that $692,000 home is going to sell for over a million dollars one day. The question is, do you want to be involved in a great investment like that?

If you have any real estate-related questions for me, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon. 

Being a Buyer in a Seller’s Market

Homebuyers should check these three items off their to-do lists.

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If you’re a buyer in today’s crazy market, there are three things you need to do as soon as possible if

you want to be ready:

1. Get pre-qualified. If you’re financing your home purchase, you need to have a letter from a bank

that says you’re approved to buy a house for X amount, or else sellers perceive your offer as being

riskier to accept.

2. Get proof of funds. If you’re paying in cash, be sure to provide proof of funds, and mention in

your offer that you’re buying without any financing contingencies to put yourself in an even stronger

position.

 "Make sure that the agent you choose has experience in this fast-paced market."

3. Work with a superstar real estate agent (like me!). While people can go online to get

information about the properties they’re interested in as well as whatever information the listing

agent wants them to know, you can’t find out all the down-and-dirty stuff that goes on behind the

scenes.

There are many things about a property that you might need to know; a superstar agent will know to

ask about the seller’s property disclosure, utilities, bills of insurance, HOA requirements, and so on.

You also need to make sure that the agent you choose has experience in this fast-paced market.

It’s important that they’ve been through the ups and downs of the market so they know how to adjust

to shifting circumstances.

Don’t hesitate to reach out to me for any questions you have or help you need. I’d be happy to help

you navigate this market so that you can get a great deal on your next home and move on to a new

stage in life.

The Truth About Whether Now Is a Wise Time to Buy

 Is now a good time to buy a home? Today I’d like to get to the bottom of this question.

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Given that home prices have been on the rise for the past 72 months, is now a good time to buy?

Actually, yes. Let me explain why.

With as long as this trend has been going on, it makes sense that we can expect it to continue. That said, one of the main points buyers must consider when purchasing property is appreciation. Here in Jonesboro, appreciation rates are rising in 90% of the areas throughout town.

So when you purchase a home, each and every monthly mortgage payment you make gets you further ahead financially. The interest you’re paying to the bank also serves as a tax write-off.

The bottom line is that there are several reasons why investing in property now is a good idea. Prices are projected to continue to rise, so why not secure your home now before they go up any further? Now could be a great opportunity to make the move to your next home.

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The bottom line is that there are several reasons why investing in property now is a good idea.

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If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Three Ways to Buy the Home that You Want

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We're seeing a competitive real estate market right now, and in order to help you compete with other buyers, I'd like to give you some tips on how you can make stronger offers to win the home that you want.

Making a solid offer:

This means that you're pre-qualified, you're putting down a nice down payment, you're ready with your paperwork, and you're coming into negotiations without a lot of contingencies.

Keep the offer clean and neat:

What I mean by this is that your offer should be clear, and if possible, it should have as few contingencies as possible. To ask for new flooring and a new fence would weaken your offer over others that aren't asking for these things, so try to avoid asking for too much.

Writing a personal letter to the seller:
If you take the time to write a heartfelt letter to the seller explaining why you like the home and why you want it, your offer will surely stand out. You will no longer be a number - you'll have a face and a story to go along with it. This can help to tug on the heart strings of the seller.

Hopefully these three tips can help you to strengthen your offers so you can win the Jonesboro home that you desire. As always, if you need any help buying or selling, please don't hesitate to contact me!

Why is a Pre-Approval So Important?

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A lot of clients have been asking me whether or not they should be pre-approved before they go out and search for homes.

You absolutely need to be pre-approved for a home loan, and this is true for many reasons.

1. When you walk into a home you want to know that you can afford to purchase it. Otherwise, you're just wasting your time looking at homes.
2. When you're preparing an offer, you look much better in the eyes of a seller when you have been pre-approved. It's important to prove to a seller that you have the funds to buy the home.
3. This helps in multiple offer situations, which have become more common lately.

It doesn't take a lot of time to get pre-approved, and we can direct you to one of our local lenders to assist you with this. 

Whatever you do, it's absolutely imperative that you get pre-approved before you even start looking for a home.

Please don't hesitate to contact me with any questions you may have about real estate in Jonesboro!