Cove Real Estate



Posted by Cove Real Estate on 7/7/2017

Ready to submit an offer on a house? Not so fast. First, you'll want to consider a few key questions, including:

1. Can I afford to buy a house?

If you find a house you like, make sure you can afford the monthly mortgage payments. By doing so, you may be able to avoid costly, time-consuming problems down the line.

Ultimately, getting pre-approved for a mortgage can make a world of difference, particularly for a homebuyer who is ready to submit an offer on a home.

With pre-approval for a mortgage, a homebuyer will understand exactly how much money is at his or her disposal. As a result, this homebuyer can avoid the temptation to overspend on a house.

2. Should I submit a "lowball" offer?

For many homebuyers, it may seem like a good idea to submit a "lowball" offer on a house. But doing so may be problematic for a number of reasons.

If you submit a lowball proposal, a home seller is unlikely to take your bid seriously. As such, this home seller may dismiss your offer and move on to other proposals quickly.

In addition, a lowball offer may cause you to miss out on the opportunity to acquire your dream residence.

When you locate the perfect residence, there is no need to leave anything to chance. If you submit a fair proposal that meets or exceeds a home seller's expectations, you can avoid the risk of losing your dream house to a rival homebuyer.

3. How much should I offer for a residence?

We've already established that a lowball offer is rarely, if ever, a good idea. Now, you'll just need to determine what differentiates a fair proposal from a lowball one.

A fair proposal accounts for the needs of both a homebuyer and home seller. It should be based on the current state of the housing market as well as the condition of a home.

For instance, if you're operating in a buyer's market, there is likely to be a broad assortment of homes available. This means a home seller may need to lower his or her expectations due to the sheer volume of quality residences currently on the market.

Don't forget to study the prices of recently sold homes in a particular city or town too. This housing market data will help you better understand how a residence you're considering stacks up against comparable houses so you can submit an appropriate offer.

4. Do I need a real estate agent?

A real estate agent will take the guesswork out of buying a home, and for good reason. This real estate professional can help you prepare an offer and will negotiate with a home seller on your behalf. That way, you can streamline the process of going from homebuyer to homeowner.

Hire a real estate agent before you submit an offer on a house – you'll be glad you did. A real estate agent will guide you along the homebuying journey and ensure you can secure a great house at a price that fits your budget.




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Posted by Cove Real Estate on 5/12/2017

Buying a house can be a stressful process, especially when you’ve found your dream home and have put in your bid. While it’s easy to spend all of your spare time worrying endlessly if your bid will be accepted it won’t get you any closer to hearing that “yes”. Here are five things you can do instead of worrying and will help relieve stress instead. Read a book - Immerse yourself in another world by picking up a book. Spend some time browsing the shelves of your local library or bookstore for something that catches your eye. If you aren’t normally a reader choose a genre similar to your movie tastes or ask a librarian for a recommendation. Meditate - I’m sure you’ve heard it a million times before. Every time the topic of lowering stress come up you are sure to have meditation suggested as a combative tool. But it’s so widely recommended for good reason! Science has proven that meditation really does lower stress levels. With its popularity comes a plethora of options for you to experiment with. You can try in-person classes, apps, or CDs. There are even many different ways to meditate so find what works for you and keep practicing. Exercise - Exercise may not be everyone’s favorite past time but it is an excellent way to lower stress. Don’t worry this doesn’t mean you need a gym membership or to spend hours lugging weights around. Walking, dancing and even vigorously cleaning can all count as exercise if they raise your heart rate. You can even think of it as prep for move in day. Spend time with friends - Gather a group of friends together to catch up over brunch or go out on the town for the night. Either way, you will have a blast spending time with those you care about and lowering your stress levels. Social engagement is an important facet of human life and when you gather a group of friends there is almost a guarantee for some laughter. And yes, laughing really does help you reduce stress! Get outside - Spending time in nature is a guaranteed way to destress with endless possibilities. You can go for a hike, ride a bike, spend time on a boat, at the beach or in your own backyard. You also have the added benefit of the ability to combine this tip with any of those given above. Lay out a blanket to sit on to read or meditate, gather a group of friends for a game of kickball, or go for a run as a group or by yourself. Waiting to hear if your bid on your dream home has been accepted can be a stressful time, but it doesn’t have to be. By spending your time engaging in activities that help lower your stress levels you will not only keep yourself from worrying but also do yourself some good too. Whether you choose to snuggle up with a good book or go out on the town with some friends you’ll be glad you gave yourself some downtime before move in day!





Posted by Cove Real Estate on 8/12/2016

An open house allows a homebuyer to explore a residence. And ultimately, this event may help a homebuyer determine whether to submit an offer on a home. For homebuyers, there are many terrific reasons to attend an open house, including: 1. You Can Learn About a Home from a Home Seller's Real Estate Agent. Although you may spend time reviewing home listings online, there may be information about a house that is unavailable on the web. Fortunately, an open house enables you to speak directly to a home seller's real estate agent and find out more information about a residence. From learning whether a home seller is motivated to sell quickly to finding out which internet services providers are available in the area, a home seller's real estate agent should be able to answer any questions you may have during an open house. As a result, you can receive plenty of insights that can help you make an informed decision about whether a particular residence is right for you. 2. You Can Check Out the Overall Condition of the Home. Online photos sometimes can be deceiving, but an open house allows you to get an up-close look at a residence and find out if it fulfills your personal needs. For instance, an open house will enable you to check out the size of each room as well as the overall condition of the home's exterior and interior. Plus, you may be able to review the performance of a home's air conditioning and heating systems and find out if these units will need to be repaired or replaced in the near future. Perhaps best of all, an open house gives you the chance to envision what life could be like if you bought a residence. Because you can walk around the home and explore it at your leisure during an open house, this event provides you with the freedom to evaluate a residence in a pressure-free situation. 3. You Can Find Out if There Is Significant Interest in a Home. Typically, a home seller's real estate agent will set up a sign-in sheet for attendees who visit an open house. This sheet enables a home seller to see how many people attended an open house and may provide you with a good indication about whether there is substantial interest in a residence. It is important to remember that the housing market is competitive, regardless of whether you're searching for a residence in a buyers' or sellers' market. As such, if an open house is filled with people, there likely is significant interest in a house. And if only a few people attend the event, there may be a greater chance that a home seller would accept an offer below his or her initial asking price. Ask your real estate agent for information about open houses in your area – you'll be glad you did! This real estate professional will be able to keep you up to date about open houses and help you find your dream home quickly and efficiently.




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Posted by Cove Real Estate on 6/24/2016

Buying your first home can be confusing. Securing a mortgage is one of the most important parts of the home buying process. Making sure that you have the right loan and have chosen the right loan officer are among the things a first time buyer has to do to start the process. Here are some more tips on how to ensure a successful purchase: 1. Make sure your deposit is in order. Talk to your loan officer about what amount of a deposit is required for the purchase and type of loan. You will also want to make sure the funds are accounted for and readily available. You can expect deposits to run anywhere between 3 and 20 percent of the purchase price. 2. Plan to have a cash reserve in addition to your deposit. You may want to have a reserve of at least two months mortgage payments. 3. Ask your lender to go over all the fees that apply to the purchase. It is better to be prepared and know how much the actual purchase will cost. These costs are typically added into your loan but there may be some out of pocket expenses too. 4. Consider how much you can comfortably afford not how much you have been approved for. These numbers may vary considerably. Your mortgage costs should not be more than 30% of your household income. 5. The lowest rate is not always the best deal. You will want to look at not only the rate but also the terms and fees associated with the loan.      





Posted by Cove Real Estate on 4/1/2016

Buying a home is a big decision and it will most likely become one of your greatest investments. In order to help navigate through the process you will want to assemble the right team. Think of  a group of experienced professionals as your real estate buying team. Here is a list of some of the professionals that you might want to add to your team: Real Estate Agent The real estate agent will represent you and your interests. Always make sure to discuss your agency relationship with your agent so you fully understand the relationship. An experienced agent can help guide you through the process to a successful closing. Mortgage Advisor Unless you are paying cash you will need a loan to buy your home. Your mortgage broker or loan agent who will arrange financing. Your mortgage advisor will search for different loans that match your financial situation. Real Estate Attorney This is the only member of your buying team who can give you legal advice. You should hire an attorney that specializes in real estate to review any contracts. An attorney can usually solve any surprise legal problems before the closing. Home Inspector A home inspector's job is to go through your prospective home a complete physical. A home inspector is an objective third party who will produce a report detailing the condition of the structure and systems of the house. Putting the right team together is critical. If you need help assembling a team your real estate agent can provide you with a list of names or ask your friends and family for referrals.