CENTURY 21 Classic Gold



Posted by CENTURY 21 Classic Gold on 7/31/2020

Tired of renting an apartment? Buy a house, and you can reap the benefits of homeownership for years to come.

Ultimately, there are many wonderful reasons to start a search for your dream home today, including:

1. You can enjoy the freedom of owning your own residence.

Let's face it – nothing beats the freedom of owning your own residence, and perhaps it is easy to understand why.

If you launch a search for your own house, you can find a residence that matches your personality and budget. Plus, you can always decorate and customize your house however you choose. And if you complete myriad home upgrades or maintenance, you may be able to boost your house's value – something that may prove to be important if you eventually decide to sell your residence.

2. You can capitalize on various tax benefits.

Believe it or not, buying a house may enable you to reap myriad tax benefits.

The U.S. Tax Code allows homeowners to deduct the interest paid on a mortgage and property taxes. Also, if you study the U.S. Tax Code closely, you may find that you can deduct some of the costs involved in a home purchase.

3. You can pay predictable housing costs for a set period of time.

With a fixed-rate mortgage in hand, you can pay the same amount each month for the duration of your mortgage. This means you won't have to worry about fluctuating housing costs; instead, you'll pay the same total each month – without exception.

Of course, homebuyers who choose an adjustable-rate mortgage can enjoy fixed housing costs for a set amount of time too. On the other hand, those who select an adjustable-rate mortgage likely will need to plan ahead for a potential increase in mortgage costs after three, five, seven or 10 years.

Clearly, there's a lot to like about buying a house. For those who want to enter the housing market today, it certainly helps to work with an experienced real estate agent as well.

A real estate agent allows you to take the guesswork out of pursuing a residence in any housing market, at any time. In fact, this housing market professional will ensure you can streamline the process of going from homebuyer to homeowner.

In most instances, a real estate agent will keep you up to date about new houses as they become available, teach you about the ins and outs of shopping for a residence and set up home showings. Furthermore, a real estate agent will negotiate with home sellers on your behalf, guaranteeing that you can get the best price on any house.

Perhaps best of all, a real estate agent is available to respond to any homebuying concerns or queries. This means you can get the expert insights that you need to make informed decisions at each stage of the homebuying journey.

Take the next step to pursue your dream residence – employ an experienced real estate agent, and you should have no trouble transforming your homeownership dream into a reality.




Categories: Buying a Home   buying tips  


Posted by CENTURY 21 Classic Gold on 5/22/2020

The weeks and days leading up to a home closing can be stressful, particularly for a homebuyer who is already trying to do everything possible to secure his or her dream residence. Fortunately, we're here to help you simplify the process of getting to your closing date.

Now, let's take a look at three tips to ensure you can enjoy a fast, easy home closing.

1. Get Your Paperwork Ready

It often helps to get all of your homebuying paperwork ready before you pursue a residence. That way, you can minimize the last-minute stress associated with searching far and wide for pay stubs, tax returns and other documents that you'll ultimately need to get financing for a residence.

Furthermore, you should meet with local banks and credit unions as soon as you can. If you can get approved for a mortgage prior to starting a home search, you may be able to speed up the process of acquiring your ideal residence.

2. Be Prepared to Cover Your Closing Costs

Although you might have financing to cover your monthly mortgage payments, it is important to remember that you may need to pay closing costs to finalize your home purchase. As such, if you begin saving for your closing costs today, you can guarantee that you'll have the necessary funds available to purchase your dream residence on your scheduled closing date.

Also, you should be prepared to present a cashier's check or wire funds when you close on a house. If you plan ahead, you should have no paying off your closing costs when your complete your home purchase.

3. Schedule Your Final Walk-Through Before Your Closing Date

When it comes to a final walk-through on your dream house, why should you leave anything to chance? Instead, set up the final walk-through at least a few days before you're scheduled to close on a house.

If you find problems with a house during a final walk-through, you'll want to give the seller plenty of time to address these issues. Thus, if you schedule a final walk-through several days before your closing date, you can ensure that any home problems can be corrected without putting your closing date in danger.

For homebuyers who are worried about a home closing, there is no need to stress. In fact, if you work with an expert real estate agent, you can receive plenty of support throughout the homebuying journey.

Typically, a real estate agent can explain what you should expect in the time leading up to your closing date. If you have any concerns or questions before a home closing, a real estate agent is happy to address them. Plus, when your closing date arrives, a real estate agent will help you remain calm, cool and collected as you purchase a home.

Ready to streamline the process of closing on a house? Use the aforementioned tips, and you can reap the benefits of a quick, seamless home closing.





Posted by CENTURY 21 Classic Gold on 4/17/2020

If you’re buying a fixer upper, whether you plan to live on the property or flip it, there are plenty of things that you’ll need to consider. So you can budget appropriately, below, many of the costs and fees are laid to so that you can see what you’ll need to budget for when rehabilitating a home.



The Overall Costs


The costs that you’ll incur in buying and finishing a home that needs to be rehabilitated are as follows:


  • The team needed for rehabilitation
  • The purchase price of the property
  • The cost of owning the property
  • The cost of selling the property (if you plan on flipping the home)


The Team


The people that you put together to rehab your home will be very important to the entire rehabilitation process. You should take the time to research each person that you’re hiring to be sure that they are a good fit for the job.


Professionals who will be involved in the process include:


  • Lender
  • Attorney
  • Realtor
  • Contractor 
  • Insurance agent
  • Home inspector


You can ask your realtor or other trusted contacts for recommendations. Putting a team in place helps to make the entire, sometimes cumbersome process of house rehabilitation a bit smoother. 


Buying The Property


These costs are pretty standard as if you were buying any other home. You’ll need to pay closing costs, attorneys fees, realtor fees, and more. Costs typically included in a home purchase are:


  • Inspection
  • Purchase price
  • Closing costs
  • Appraisal


You should budget for all of these typical home buying costs when buying a rehab home. 


The Costs Of Home Rehabilitation


This is where things get expensive. You’ll need to first pay a contractor just to consult with them to see how they will create your vision for the property. You could also take another route an consult with a home inspector who has experience in construction. They can give you an idea of what the construction expense will be and what needs to be addressed. 


When you do get to meet with contractors, you’ll want to understand their construction experience and feel comfortable that they can produce the work that you need at a high level of quality.  


Owning A Home


Once you have the home in need of rehabilitation in your possession, you’ll need to pay the typical costs of any homeowner. These include:


  • Mortgage payments
  • Taxes
  • Insurance
  • Utilities
  • Maintenance


Even if you’re not currently occupying the home, once the property is purchased, all of these costs will need to be covered and considered. 


If you decide to flip the property and sell it, you’ll need to consider additional costs including realtor’s fees and other closing costs.  





Posted by CENTURY 21 Classic Gold on 4/10/2020


 Photo by Tayeb Mezahdia via Pixabay

When you start looking for your dream home, you need to know how much mortgage you will qualify for. Your real estate agent might ask you to get a pre-qualification letter. However, just because you are pre-qualified doesn’t mean that you will get the loan. You need a pre-approval for that, and even then, the mortgage company might not approve your application.

Pre-Qualification

A pre-qualification letter just tells you how much loan you can afford. The lender does not check your credit, your debt-to-income ratio or other factors before issuing a pre-qualification letter. Additionally, a pre-qualification letter is dependent on the information you provide to the lender. The pre-qualification essentially gives you an estimate of how much home you are able to afford so that you do not look at homes that are not within your range.

To get a pre-qualification, you supply the lender with your assets, debt and income. Because the lender bases its decision on the information you provide, rather than information from outside sources, a pre-qualification is not a guarantee that you will get the loan.

Pre-Approval

Getting pre-approved for a loan usually takes longer than getting pre-qualified. The lender pulls your credit report and might ask for additional documents, including tax records and bank statements. To get pre-approved, you must complete a loan application and provide your social security number. The lender might charge an application fee for a pre-approval.

With a pre-approval, you will have a closer interest rate assessment, that is usually not finalized until the loan goes through underwriting. Once the lender pre-approves you, it will send you a conditional commitment for the loan amount. You can look for homes at or below that price.

In a market when buyers bid against each other – a seller’s market – having a pre-approval letter might give you a step up with the seller, who will more likely choose an offer by someone more likely to get the loan. Thus, if you and someone else submit a bid on your dream home, but the other person only has a pre-qualification letter, the seller might accept your offer, even if it is not as good as the other buyer’s offer, simply because you are more likely to get the mortgage.

For a pre-approval, you will need to:

  • Complete the lender’s mortgage application;

  • Possibly pay an application fee;

  • Supply your social security number and allow the lender to pull your credit;

  • Provide financial information to help the lender make a decision; and

  • Tell the lender how much you plan to put up as a down payment.

After you are pre-approved and the seller accepts your offer, you will then have to provide the rest of the documentation to the lender, including the accepted offer, bank statements, retirement account statements, taxes for up to two years, proof of income and other documents that will help the lender come to a concrete decision.





Posted by CENTURY 21 Classic Gold on 3/27/2020

The homebuying journey can be long and arduous, particularly for an individual who makes mistakes along the way. Fortunately, an informed homebuyer can identify potential problems early in the homebuying journey and take the necessary steps to resolve such issues without delay.

Now, let's take a look at three common mistakes that homebuyers make, along with the best ways to eliminate these problems before they escalate.

1. A homebuyer spends too much time debating whether to submit a home offer.

The housing market moves quickly, and a homebuyer who hesitates to submit a competitive offer on a residence risks losing this house to a rival homebuyer.

Ultimately, it pays to learn about the real estate market. That way, if you fall in love with a house, you'll be better equipped than other homebuyers to submit a competitive offer before it's too late.

Check out the prices of houses in cities and towns where you'd like to live. This may help you narrow your search for the perfect home and provide housing market data that highlights how much it may cost to acquire your dream residence.

Also, take a look at the prices of recently sold houses in different areas. This will enable you to determine whether you're working in a seller's market or a buyer's one.

2. A homebuyer foregoes a home inspection.

Even though a homebuyer may want to rush through the purchase process, there is no reason to forego a home inspection.

When it comes to buying a residence, it is always better to err on the side of caution, and a home inspection offers a valuable opportunity to learn about a house's condition and uncover any "hidden" problems with a residence.

For example, a home inspection may reveal roof damage that could lead to thousands of dollars in roof repairs in the near future. On the other hand, a home inspection may show there are no major issues with a residence, thereby verifying that a house is a sound investment.

Don't forget to consider a variety of home inspectors before you schedule a property inspection. This will ensure that you can find a home inspector who possesses the necessary skills and expertise to perform a deep evaluation of a home before you finalize your purchase.

3. A homebuyer tries to purchase a house without support from a real estate agent.

For those who want to streamline the homebuying process, expert help may be necessary. Luckily, you can hire a real estate agent who can help you seamlessly navigate the homebuying journey.

Real estate agents are easy to find in cities and towns nationwide. Meanwhile, these housing market professionals are available to help you narrow your home search, submit offers on residences and much more.

If you need additional help during the homebuying journey, it usually is a good idea to hire a real estate agent. By doing so, you can receive the expert guidance and support that you need to go from homebuyer to homeowner.







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