Real Estate Realness: Home Equity
It’s time for another Real Estate Definition! Today, we’re discussing Home Equity.
Home equity is the value of your stake in the property. It’s calculated by subtracting the amount you owe on your mortgage from the appraised value of the home. So, the more payments you make towards your loan, the more you’re increasing your home equity. As the market value of your home goes up, so does your home equity. You can then use your equity as collateral for a line of credit, another loan, or refinance.
More home equity = more options! What will you do with your home equity?
Real Estate Realness: Buyer’s Agent
What’s a buyer’s agent?
If you’re purchasing a home directly from the owner or if they’re already working with an agent, why would you need one, too?
The role of a buyer’s agent isn’t just to help you look for homes. They’re also your dedicated representative throughout the home buying process, working towards your best interests. If you’re competing against multiple offers, or if you need to negotiate something in the contract, your buyer’s agent is there for you! If you need recommendations for lenders, home inspectors, or real estate attorneys, your buyer’s agent will help you.
Real Estate Realness: First Time Homebuyer Tips
Are you a first-time home buyer? Or are you interested in buying your first home, but don’t know where to start?
Check out this checklist for our best tips for a stress-free journey from home searcher to homeowner.
1. Start a file to gather all your documents in a secure place.
2. Set aside some money for a “home repairs and emergencies” fund.
3. Find a real estate agent you trust to work toward your goals.
4. Interview lenders and review all your financing options.
5. Avoid taking on new debt and keep your credit stable until after closing.
By following these tips, you’re well on your way to being a first-time home owner. Like this post and follow us for more home-buying tips and local real estate market data!
Real Estate Realness: Selling Mistakes
Do you know the most common mistakes to avoid when selling your home? Let me know in the comments and then check your answers below!
5 Common Mistakes When Selling Your Home
1. Overpricing Your Home
2. Foregoing Major Repairs
3. Skipping Decluttering & Staging
4. Selling at the Wrong Time
5. Not Working with an Agent
Hey, have you heard the good news? By avoiding Mistake #5, you can dodge Mistakes #1 to #4 too! And you know what’s even better? You don’t have to do it alone. A Realtor can be your reliable ally, attentive to your needs and proposing smart solutions to achieve your objectives. The more you communicate with them, the lower the chances of falling into these all-too-common pitfalls (and the occasional curveball!). So why not team up with an agent you can rely on and steer clear of these mistakes starting today?
Real Estate Realness: Spring Cleaning
Spring cleaning time is upon us again! Before doing a deep clean into all the corners and crevices of your home, it’s best to do some tidying up first.
Decluttering helps you see areas you might have missed in the last cleaning. If you’re a procrastinator, eliminating clutter first will also help you stay motivated for the scrubbing and mopping part of spring cleaning. The fewer breaks you have to take to declutter while you’re cleaning, the more likely you are to finish the job!
How to eliminate clutter:
1. Go room by room, creating 3 piles while you pick up clutter – Put Away, Throw Away, & Donate/Sell.
2. Use baskets, jars, and other organizers to create more space for the clutter you’re putting away.
3. Transfer paper documents to digital format by scanning them and signing up for paperless statements.
Here are some places in the area that will accept donations:
Sussex Sharing Club – @thesussexsharingclub
26 Eveleigh St., Sussex, NB
506-433-6047
Salvation Army Thrift Store – @salvationarmysussex
49 Winter St., Unit 1, Sussex, NB
506-433-2723
275 Main St, Fredericton, NB – Salvation Army Thrift Store
506-472-5458
S.P.O.T.
5 Mill Rd., Petitcodiac, NB
506-756-8545
Real Estate Realness: Interest Rates
Have you ever wondered why the interest rate changes when it does? One day it’s up, and the next day it’s down. Sometimes it rises and falls quickly, and sometimes it remains at a steady rate.
Several factors determine the interest rate:
1. Supply & Demand of Money
2. Rate of Inflation
3. Growth Rate of Economy
In addition to these factors, the interest rate on your mortgage will be determined by things like your credit score, home price vs. loan amount, and source of income.
Real Estate Realness: Why we Started Our Business
Never start a business to make money. Start it to make a difference!
That’s why your Evolve Real Estate Team got started in real estate — to make a difference in people’s lives and to help make the right moves for them, whether that’s buying, selling, or investing in real estate.
We stand out through our commitment to providing unparalleled personalized service and utilizing a collaborative approach to ensure our client’s success in their real estate endeavors. We are here to help you change your life, and if that helps us along the way, then all the better! All we can ask is that you pay it forward and make a difference in someone else’s life, too.
Real Estate Realness: Marketing
So, you want to sell your house, but you’re not sure where to begin. You’re not alone! There are many ways to market a house and there isn’t necessarily a one-size-fits-all plan. You need to consider the condition of the home, current market activity, and how motivated (or unmotivated) potential buyers are.
These are all things we look at when determining the best ways to attract the best offer on your house.
1. High-quality, professional photos
2. Elevated open house events for other agents and potential buyers
3. Syndicated listings and social media campaigns for maximum exposure
Real Estate Realness: Outgrowing Your Home
Are things feeling just a little too tight at home to be considered cozy? It may be time to upgrade your living situation!
Here are 3 signs that you’ve outgrown your home:
1. No matter how much you declutter, there’s never enough storage space.
2. Between people and pets, everyone always seems to be on top of each other.
3. You don’t have dedicated spaces – you eat, work, and sleep all in the same room.
Real Estate Realness: Financial Checklist
Are you a first-time homebuyer looking for an easy, 1-2-3 path to homeownership? 🤔🔐 Well, we can’t promise you that exactly, but we can give you a checklist to make it easier! 📝 When buying a home for the first time, there are some crucial first steps you don’t want to miss.
Financial checklist for a first-time homebuyer:
1. Resolve any credit issues first
2. Plan and save for a down payment
3. Find the right lender for you
4. Get pre-approved
5. Go house shopping & make an offer!