Buyers

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Here are four great reasons to consider buying a home today instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Insights Report shows that home prices have appreciated by 3.5% over the last 12 months. The same report forecasts prices will continue to increase at a rate of 5.6% over the year of 2020.

2. Mortgage Interest Rates Are Forecasted to Remain Low

3. Either Way, You Are Paying a Mortgage

There are some renters who haven’t purchased a home yet because they’re uncomfortable taking on the obligation of a mortgage. Everyone should realize that unless you’re living rent-free with your parents, you are paying a mortgage – either yours or that of your landlord.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing costs to work for you?

4. Waiting May Increase Your Long-Term Costs

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears prices are on the rise, making waiting a potentially more expensive option.

Look at the actual reason you’re buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over custom renovations, maybe now is the time to buy.

Bottom Line

Buying a home sooner rather than later could lead to substantial savings. Let’s get together to determine if homeownership is the right choice for you and your family this season.

The Power of Having the Right Real Estate Professional on Your Side

If you’re searching for a home online, you’re not alone; lots of people are doing it. The question is, are you using all of your available resources, and are you using them wisely? Here’s why the Internet is a great place to start the homebuying process, and the truth on why it should never be your only go-to source of information and support when it comes to making such an important decision.

According to the National Association of Realtors (NAR), the three most popular information sources homebuyers use in the home search are:

• Online Website (93%)
• Real Estate Agent (86%)
• Mobile/Tablet Website or App (73%)

Clearly, you’re not alone if you’re starting your search online; 93% of homebuyers are right there with you. The even better news: 86% of buyers are also getting information from a real estate agent at the same time.

Here are three reasons why working with a Twin Falls realtor in addition to a digital search when selling or buying a home in ID, is key:

1. There’s More to Real Estate Than Finding a Home Online. It’s a lonely and complicated trek around the web if you don’t have a real estate professional to also help you through the 230 possible steps you’ll face as you navigate through a real estate transaction. That’s a pretty staggering number! Determining your price, submitting an offer, and successful negotiation are just a few of these key steps in the sequence. You’ll definitely want someone who has been there before to help you through it.
2. You Need a Skilled Negotiator. In today’s market, hiring a talented negotiator could save you thousands, maybe even tens of thousands of dollars. From the original offer to the appraisal and the inspection, many of the intricate steps can get complicated and confusing. You need someone who can keep the deal together until it closes.
3. It’s Crucial to Make a Competitive and Compelling Offer. There’s so much information out there in the news and on the Internet about home sales, prices, and mortgage rates. How do you know what’s specifically going on in your area? How do you know what to offer on your dream home without paying too much or offending the seller with a lowball offer?

Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Hiring a Twin Falls realtor  who has his or her finger on the pulse of the market will make your buying experience an informed and educated one. You need someone who is going to tell you the truth, not just what they think you want to hear.

Bottom Line

If you’re ready to start your search online, don’t skip over the support of an educated and informed Twin Falls realtor. You need someone at your side who can answer your questions and guide you through a process that can be complex and confusing if you go at it with the Internet alone.

Buying a Home: Do You Know the Lingo?

To confidently point you in the right direction, here is a list of some of the most common terms used in the homebuying process.

Appraisal – A professional analysis used to estimate the value of the home. A necessary step in validating the home’s worth to you and your lender to secure financing.

Closing Costs – The fees required to complete the real estate transaction. Paid at closing, they include: points, taxes, title insurance, financing costs, and items that must be prepaid or escrowed. Ask your lender for a complete list of closing cost items.

Credit Score – A number ranging from 300-850 that is based on an analysis of your credit history. Helps lenders determine the likelihood that you’ll repay future debts.

Down Payment – Down payments are typically 3-20% of the purchase price of the home. Some 0% down programs are also available. Ask your lender for more information.

Mortgage Rate – The interest rate you pay to borrow money to buy your home. The lower the rate, the better.

Pre-Approval Letter – A letter from a lender indicating you qualify for a mortgage of a specific amount.

Real Estate Professional – An individual who provides services in buying and selling homes. Real estate professionals are there to help you through the confusing paperwork, find your dream home, negotiate any of the details that come up, and to help you know exactly what’s going on in the housing market.