Being a house hunter is a tricky business. You need to be very careful before taking any major step. One of the things that you should avoid at all time is taking advice from your family members. You will come across various opportunities during your search and those words of advice will keep you from acting on them.
It’s ok to doubt yourself because as a first time homebuyer, you will make some mistakes while being a house hunter. You might pay a few extra dollars on the home inspection or forget to look over some of the contingencies but that’s alright. The problem arises when you take someone else’s advice to heart and make all your decisions based on that. At a time like this, the best person to look to is your real estate agent.
Here are some of the friendly house-hunter tips you should avoid falling for:
While Browsing Online, You Saw a House That Matches the Description of What You Are Looking for – “I Need to Make an Offer on the House Now before It’s Gone”
Pictures are just a sneak peak of the actual house. Placing an offer on call after just seeing the photos is one of the biggest mistakes a first time house hunter can make. Your first step should be to book an appointment through your real estate agent and then visit the home for sale in West Bloomfield, Michigan for a viewing. You don’t know what kinds of repairs are lurking in the corner. It is better to see them up close and personal, so you have all the facts.
The Asking Price Looks Perfect on the Website – “I Can Use an Online-Estimator to Check this Value”
The problem with an online-estimator is that it doesn’t count the damage in the basement or to the foundation. The value calculated through an online estimator usually factors in the neighborhood, acres and the number of rooms. So, relying on this without searching on the comps is like giving away your money for free.
For You Buying a House Is All About Looking for the Matches Your Needs – “I Don’t Need a House in a School District Because I Don’t Have Kids”
Homes for sale in West Bloomfield, Michigan that are within reach of a good housing district appreciate better over the years. Plus, you never know what your future plans hold. So, don’t discount any facilities coming your way, just because they don’t match your current condition.
You Didn’t Look At the Homeowner’s Association (HOA) Rules before Buying the House – “That Tree Has Been the Reason Why I Get So Many Insects on My Window, So I Will Cut It Down”
Before making any permanent changes to the property, you need approval from the HOA. If you do anything without their authorization, not only will you have to pay a fine but if they feel that the renovation is not within the legal limit, they will tear it down.
As a first time homebuyer out house hunting, might seem a bit overwhelming but as long as you keep these situations in mind, you will have your “American Dream”. If you want to buy a home for sale in West Bloomfield, Michigan that falls under your budget, then visit Homes2MoveYou. Get in touch with me 248-790-5594 and start seeing houses in areas of your liking.
Greater Oakland County Moving With Children
Relocating with children in the Greater Oakland County area or any other for that matter can be a stressful situation, not only for you but the children of Greater Oakland County as well. It is important to involve your children in your home search and your relocation plans. When making your list of things to do before, during and after your move, don’t forget to include your pets as they are as much of the family as well. Moving can be stressful, even dangerous, for pets if their interests are not taken into consideration as well.
Child experts agree it’s a good idea to involve the children when family makes relocation plans to move. You may have mixed feelings about taking the kids house-hunting in Oakland County, however. (It’s hard enough for just two people to decide on a new home!) Here are a few pointers that may help in your relocation move and including children in the process.
Narrow the Field First
The kids don’t need to visit every potential house on the list in Oakland County. If possible, wait until you’ve selected two or three serious prospects of homes before bringing the children along. In any case, limit your kid-accompanied tours to three houses or less per day
Provide Behavioral Guidelines
Remind the kids to treat the home owners and their property with respect. Make sure the kids stay in the same room with you at all times and they “keep their hands to themselves.” If the home owners are present, your family members should also keep their thoughts about the house to themselves until after you leave the property. Making positive comments in the presence of the home owners could work against you when negotiating the price, while negative comments could spark a hostile reaction, causing the home owner to sell to another home buyer.
Make the Kids Your Secretaries
If they’re old enough, your children can each keep a log of the homes you look at I Greater Oakland County, including detailed information about the house — location, size, types and numbers of rooms, etc. Have them describe their feelings about the house, too, particularly what they think it, and what would be like to live there for them.
Locate the Nearest Playground
A post-tour trip to the park (or local mall, if you have teenagers) can be a great motivator for good behavior during tours of Oakland County properties and a nice way to get to know the area as well. Walking the streets in the Oakland County neighborhoods will also give you and the kids a better feeling for the local lifestyle and whether there are other children the same age as yours in the area. Also look for local parks and recreation for children to visit and become a part of.
Bring along books or games to help your kids through the “I’m bored” stage. If you’ll be driving for extended periods, bring some audio books or favorite music. Nowadays usually it is a I-Pad or tablet that keeps them busy, but make sure they pay attention to the particular homes of interest that you have and get their opinions as you go through each.
Time Your Tours for Success
Plan to look at homes in Greater Oakland County early in the day or just after (certainly not during) nap time. Be prepared with snack foods and drinks to keep energy levels up.
Let Them Know Their Input Counts
Although the final decision is yours, your children will feel better about the move to Greater Oakland County if they know you value what they think about their potential new home and neighborhood.
How to Help Your Kids Adjust To the Move to Greater Oakland County
- Children can find a move to Greater Oakland County overwhelming, even to a home within the same area. Here’s how you can help:
- Parents’ positive attitudes about a new environment inspire positive attitudes in children. Try to focus the children on what they can gain, rather than on what is being lost.
- Keep schedules as normal as possible to give children the extra security needed in the new surroundings.
- Call on new neighbors in Oakland County early so your children can meet other children who live nearby.
- Seek counseling or academic tutoring immediately if a child runs into trouble in the new Oakland County School, being sure to give the child lots of encouragement and praise in the process.
- Be available at mealtime, bedtime and (if possible) after school to listen to and share new experiences.
- Sign up your child for one or two activities, sports or lessons so he or she can meet new friends and establish or continue special interests.
- Consider requests for clothing, bikes and other equipment that may not have been a “necessity” in the previous area but can help a child fit in with new peers.
- Visit the old home and invite old friends to your new home in Oakland Country to help your child maintain a sense of roots.
- Exercise patience during the adjustment period. Finding a new sense of “home” takes time.
Greater Oakland County Home Buyers BUY OR WAIT?…
Check The Answer That’s Right For You
There’s no right or wrong answer when you ask: “Is it the right time to buy a home in the Greater Oakland County area ?” For some, it’s a great time to buy—while for others, the answer is not as clear cut. There are lots of check marks that make buying favorable, but some unknowns as well. We’re here to help you sort out the right answer for you.
Today’s real estate market in Greater Oakland County is affordable for many. Interest rates are still near historic lows, which means your money buys more home than it will when rates rise. With stable employment, a decent down payment and a good credit history, you’re likely to qualify for a mortgage.
The selection of homes available locally in greater Oakland County is improving because the overall economy has encouraged more owners to sell. Because of this, your odds of finding the right home for you are higher today. Also, home buyers now have many financing options because lenders offer a variety of loan programs that allow buyers to choose their mortgage term and interest rate to ensure the loan is affordable today—and tomorrow.
Should you buy a home today?
There are many reasons why it might be a good time for you, personally, to buy real estate today. How many reasons can you check off?
☑ I need a tax break.
Paying mortgage interest and real estate taxes may provide you with a sizable deduction on your income taxes. Consult a financial professional to review your tax return and see the impact owning a home (or a larger home) could have on your tax bill.
☑ My household income is likely to grow.
Up for a raise in the not-too-distant future? In line for a promotion? If your career—or your partner’s career—is on an upward trajectory, your growing income will offset any increases in real estate taxes, insurance or interest rate down the road.
☑ I’m ready to put down some roots.
You may feel ready to sink deeper roots in one location and become more vested in our community. If you’re looking to call our area home for five years or more, it may make sense to buy a home or move up to a larger one.
☑ I have been saving for a rainy day.
If you’ve been stashing away money for a down payment for some time, consult a mortgage lender to determine how much home you can comfortably afford to buy (ask us for lender recommendations). Calculate if your savings cushion is enough to cover unexpected maintenance costs or other emergencies after the down payment is paid.
☑ I need a home that will grow with my family.
If the home you can afford today has enough bedrooms to accommodate future children, children who are returning home, elderly family members or a work-at-home situation, it may be the right time for you to buy.
☑ I’ll be receiving some money.
If you are receiving a large legal settlement or a family member has presented you or your partner with a sizable monetary gift or inheritance, you might be able to buy that home you’ve only dreamed of before now.
☑ I follow a budget.
With your finances in order and personal spending in check, you likely have a realistic budget to know how much you can safely spend on housing.
☑ My debt situation is under control.
If you had student loans and they’re nearly paid off, college-age kids that are close to graduation or credit card debt that is near a zero balance, it might be time for you to think about buying a home.
☑ I’m just ready.
If you’re ready to buy a home, it’s time to contact us. We can show you local homes that fit your finances and your family. We can work with you to determine which one meets your needs best. We look forward to hearing from you soon!
Cell : 248-790-5594
When it comes time to buy your next home in Oakland County Michigan, your decision will be based on dozens of criteria. If you’re like many home buyers, good schools will be at the very top of your list. Even buyers without children are often concerned about the quality of schools. They know property values in Oakland County Michigan often reflect the reputation of local schools-both public and private-and that a home near good schools may be easier to sell later on.
Tips For Locating The Right Schools
It pays to look at schools early in the house-hunting process so you can narrow your focus to particular neighborhoods. Consider the following approaches and available resources for determining whether a school or school district is right for you and your children.
Define Your Idea Of “Good”
The first step is taking an honest look at your child’s educational needs. Is he or she average, exceptional, or is there a learning disability to consider? What are the student’s interests and natural abilities? Cerebral? Artistic? Athletic? It won’t matter that a school is tops in math and science if your child’s educational focus is in language and fine arts. Identifying your child’s individual needs will help determine the types of programs and educational approaches you’re looking for in a school.
Get An Overview
You can tap the resources of several organizations to find out what schools are available in a particular area and how they rank compared with others in the system, the state and the nation.
Take a look at the programs that would most interest or benefit your children. Is the local public school strong in those areas? If not, there may be good private-school alternatives in the vicinity.
Keep in mind that what you see on paper may not provide a complete picture of the school, its resources and the capabilities of its educational staff.
Identify The District
It’s easy to find out what public school district a house is in-the information is nearly always included in the MLS listing, available through your Realtor. Note, however, that school boards frequently re-draw districts. To help ensure a home is likely to remain in a particular district, you may want to find out how close it is to district lines-being central to a district increases your chances of staying there. Contact the local board of education to obtain a district map.
Go To The Source
Bring along books or games to help your kids through the “I’m bored” stage. If you’ll be driving for extended periods, bring some audio books or favorite music.
See For Yourself
Make plans to visit the schools you are interested in. Schedule appointments with the principal and some of the teachers in your child’s grade. Inquire about school policies and procedures. Discuss your child’s strengths and weaknesses, asking how the school would handle them.
Interview The Neighbors
Perhaps the best way to investigate a school is to talk with parents whose children attend. Visit neighbors in the area and ask them to be candid about what they like and dislike about local schools.
Let Me Get You Started
I’ll be happy to provide the phone numbers and website addresses of the schools and districts in our area. Be aware, however, that complying with fair housing practices, we may not be able to provide you with all the information you seek. Discussing school quality can be construed as “steering” buyers to or away from particular neighborhoods, which could be viewed as discrimination-even if unintentional.
That being said, we’ll do everything we can to support your efforts to locate the right home and the right schools to meet your family’s needs.
The School Hunters
American School Directory: (800) 444-4488. P.O. Box 7003, Murfreesboro, TN 37133-7003. Web. E-mail. With over 108,000 individual websites, provides every K-12 school in America (public and private) a free Internet presence and identity. Includes pictures, maps, art, information, calendars, etc
National Association of State Boards of Education:(703) 684-4000. 277 S. Washington St., Suite 100 Alexandria, VA. 22314. Web. E-mail. Offers quick reference state profiles for basic education information and data taken from U.S. Department of Education statistics. Includes statistics to allow comparisons between a state and the national mean.
School Match:(800) 992-5323. 5027 Pine Creek Drive, Westerville, OH 43081. Web. E-mail. For a fee, you can receive a report card on any public school or one of thousands of private schools in the U.S. At an additional cost, they will list up to 15 schools that match your criteria identified by their questionnaire. They also assist families with special-needs children and those moving overseas. All reports are confidential. If you are making a company move, your company may pay for School Match’s assistance.
Top Real Estate News Of The Week
Pending Home Sales Up
And we have some positive numbers to report today – Pending Home Sales in July rose 3.3% on a month over month basis according to the latest data from THE NATIONAL ASSOCIATION OF REALTORS®. The P-H-S numbers, a leading indicator of the health of the housing market, are at their highest level since August 2013. We talked to Jed Smith, the Director of Quantitative Research for THE NATIONAL ASSOCIATION OF REALTORS®, who gave us some insight into how and why we are seeing these strong gains.
Housing Forecast Looks Sunny
The forecast for the national real estate market is in. And what do we see? – A lot of blue skies and sunshine.
And that’s according to Freddie Mac, which is out with a new report. It shows there’s been a dramatic shift in the overall economy, and THAT should lead to a strong housing market well into next year and beyond. Economists say housing starts should be around 1,300,000 in 2015. That would be an increase of 28% over this year’s pace.
The main reason for this is rapid growth in the labor market. Employers have, on average, added more than 200,000 jobs for the first 7 months of this year.
Continued improvement in this area is expected to fuel homebuilding activity, and lead to a housing market that’s driven by solid fundamentals.
Credit Impacts Homeowners Insurance
Every homeowner with a mortgage understands how important their credit history is. If we don’t have a good record, we have a tough time finding a good deal on a home loan. As it turns out, a poor or even a so-so credit score can also make homeowners insurance rates MUCH higher.
A new survey from the online insurance brokerageInsuranceQuotes.com shows homeowners with bad credit pay 91% more for the insurance on their home than homeowners with excellent credit. Real Estate Today asked Laura Adams, senior analyst withInsuranceQuotes.com, why this disparity exists.
Three states, California, Massachusetts, and Maryland prohibit Insurance Companies from factoring credit scores into their rate analysis.
Where to Find the Largest Homes
Having a large home can be luxurious…and we all think of large homes as being incredibly expensive. But? Think again.
Believe it or not, there are places you can go to find a big house WITHOUT getting slammed by big sticker shock.
Builder Magazine, which provides information on housing, just released a study looking at the top five cities for buying a large home that’s relatively inexpensive. Researchers looked at the major markets – those with a population of more than 500,000. They also took into account things like average living space and price per square foot.
In the top five are Nashville – Tennessee, Las Vegas – Nevada, Jacksonville – Florida, Dallas – Texas.
And number one was Oklahoma City. It has the lowest average cost per square foot at $203. And the largest average lot size, at more than 18,000 square feet.
Home Builder Confidence is Up
Most of the companies that build homes in the U.S. are happy about where the housing market is heading. According to a new report from the National Association of Home Builders, confidence among these companies was up AGAIN in August.
That’s the third consecutive monthly gain for that reading.
The confidence index is now at 55. Anything above 50 is considered good – it means the majority of builders have a positive view of where the market currently is and where it’ll be in the near future.
Analysts say the employment picture is getting brighter and builders are continuing to see a noticeable increase in the number of serious home buyers entering the market. Other factors contributing to the improvement include low mortgage rates and affordable home prices.
Broad Impact of Foreclosure Drop
We keep seeing foreclosure activity drop lower every month.
Here’s where we stand right now – delinquency and foreclosure rates are at their lowest levels in more than 6 years. Foreclosure starts haven’t been this low since 2006. And, in states that were hit hard during the housing crisis, foreclosures and delinquencies are back to pre-recession levels.
That’s a good thing for the real estate market in as a whole. And individual homeowners will see the benefits of all this progress, according to the Mortgage Bankers Association – which represents the real estate finance industry.
Experts say homeowners can expect to see various improvements. Their property values should continue to increase…since fewer distressed properties are pulling down nprices in the neighborhood. And it’s welcome news for first-time homebuyers, who can expect banks and mortgage companies to lend with more confidence.
Pending Home Sales Up
Expect more home sales over the next few months. THE NATIONAL ASSOCIATION OF REALTORS® has released its Pending Home Sales report and contract signings increased 3.3% on a month to month basis. W
We talked with Jed Smith, the Director of Quantitative Research for THE NATIONAL ASSOCIATION OF REALTORS®.
The price of homes is also expected to show gains this year. NAR projects the median existing home sales price nationwide will grow between 5% and 6% in 2014 on a year over year basis.
Home Demand is Alive and Well
In order to have a robust home buying environment, the United States needs to be filled with plenty of demand for – you guessed it – housing.
So, do we really have enough current demand to drive the market forward?
Sig Anderman is the CEO of Ellie Mae – which provides services for the mortgage industry. He tells Fox Business, demand for homes is growing all the time.
Anderman notes that mortgage interest rates are still at unusually low levels, historically speaking. He believes THAT is also motivating potential buyers.
Down Payments on Homes are Rising
We all know how it works. To get a home loan – we usually have to hand over a down payment. But what you might not know is down payments have been rising.
Bloomberg reports, this is happening for homes of all size, but it’s been dramatic in the least expensive 25% of properties. In that area, the median down payment last year was 7.5% of the sales price.
That’s up from a low of 3.1% back in 2006. The average from 2001 through 2007 was only 4.2%. Those figures were put together by the real estate brokerage Redfin.
Why are bigger down payments becoming more prevalent? Bloomberg reports that fewer home-buyers—especially first-time home buyers—are choosing F-H-A backed loans. So, the number of mortgage products that require larger down payments has been on the rise. It could be that the higher costs of Mortgage Insurance required by the Federal Housing Administration is deterring some home buyers from selecting F-H-A backed mortgages.
Singles Seek Home Ownership
It appears that the traditional approach to buying a home – saving, saving and more saving – is still alive and well.
REALTY BIZ NEWS reports on a brand new study from Century 21 Real Estate – that shows that even among single buyers, owning a home is worth sacrifices. The study shows the majority of single homeowners gave up dining out, entertainment, and vacations in order to make their home ownership dreams come true. Why make these lifestyle changes in order to buy a home? The Survey found single folks regarded home ownership as an important financial investment. In fact, the report states 75% of single people, age 25 to 50, say home ownership is important to them.
Rising Rents Hit Middle America
Here’s something that makes homeownership seem like a much better deal. From coast to coast – it’s becoming more expensive to rent.
According to the industry website HousingWire.com, rents have been rising and they show no sign of slowing down. And it’s getting tougher for people who decided to rent – so they could save up enough money to eventually buy a home. As you can imagine, that’s not easy when so much of your cash is going towards your rent.
The Wall Street Journal reports, not only are rents going up in the big cities like New York and San Francisco – it’s been a nagging problem in the South and Midwest, too.
The top 10 regions for the MOST rent growth in the second quarter of this year include cities in Tennessee, North Carolina, Kentucky, Ohio and Missouri.
courtesy of The National Association of Realtors