Friday, July 13, 2018 / by inMotion Group Properties
When you put your home up for sale, one of the best ways to determine the asking price is to look at comparable sales. There’s rarely a perfect apples-to-apples comparison, so a pricing decision often relies on comparisons to several recent sales in the area. Here are five criteria to look for in a sales comparison.
1. Location: Homes in the same neighborhood typically follow the same market trends. Comparing your home to another in the same neighborhood is a good start, but comparing it to homes on the same street or block is even better.
2. Date of sale: It varies by location, but housing markets can see a ton of fluctuation in a short time period. It‘s best to use the most recent sales data available.
3. Home build: Look for homes with similar architectural styles, numbers of bathrooms and bedrooms, square footage, and other basics.
4. Features and upgrades:&nbs ...
Friday, June 29, 2018 / by inMotion Group Properties
Going green is great for the environment, but that’s not the only benefit. When you make green upgrades in your home, it can also lead to some major savings.
Solar panels: The upfront cost is big, but the long-term savings are huge. Solar panels will cost several thousand dollars to install, but ongoing maintenance costs are very low, and a typical system could save you hundreds of dollars per year. You can even sell your surplus electricity.
Wood furnace: Wood-burning furnaces are relatively inexpensive, and though the yearly savings aren’t as dramatic (about 10% on heating bills), it adds up over the long run.
Insulation: There’s a good chance your insulation isn’t very efficient, especially in older homes. Look into installing floor, cavity, wall, and loft insulation to reduce your heating bills.
Rain barrels: Rain barrels are extremely inexpensive, and provide gallons of free water to use when you wash your car or water your garden. ...
Monday, June 25, 2018 / by inMotion Group Properties
You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders.
But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available.
The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent down payment, which will eliminate some homes from your search.
The national average for home appreciation is about five percent. The appreciation is independent from your home payment, so whether you put ...
Monday, June 18, 2018 / by inMotion Group Properties
“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.
YOU’RE NOT TOO LATE.
For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.
IT’S NOT TOO TIME CONSUMING.
Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of mon ...
Wednesday, May 30, 2018 / by inMotion Group Properties
Buying your first home can be one of the most exciting and rewarding experiences of your life, but it can also be a scary and stressful process. To ensure you have a smooth transaction from start to finish, familiarize yourself with the home buying process, note the tools and resources available to you, and get all your ducks in order. To get you started, we’ve made a list of our top three ways to set yourself up for success.
Outline Your Musts and Wants
Before starting your search, make a list of must-have and nice-to-have features for your home and neighborhood. This will help you narrow down your search early on and prevent the hunt from becoming overwhelming.
Solidify Your Financing
When starting the home buying process, ensure your finances are in order by reviewing your credit score and taking steps to boost it, saving for a down payment, and avoiding any major purchases. Then select a lender that is right for you, talk to him or her about your loan options, and ...