Finally ready to make the transition into home ownership? That's awesome, and in this exciting time you can be turning to friends and family for an insight into the process. However, there seems to be a circulation of misinformation spreading around, so we're here to clear up a Few Myths.
1. THE FIRST STEP IS SEARCHING FOR A HOME
You know the saying, "Don't put the cart before the horse," well that's important to remember when it comes to buying a home. You don't want to start looking for a house until you have gotten to sit down with a lender and discuss what the bank will qualify you for, this is call the pre-qualification process. If you fall in love with a house that's $250,000 and come to find out you're only qualified for $200,000 you can get your hopes crushed and waste a lot of time. Don't start the process on the wrong foot and make sure the numbers line up.
2. YOU DON'T NEED A REAL ESTATE AGENT
For starters, when buying a home, 99% of the time the buyer's agent gets paid by the sellers. That random 1% can be for odd circumstances. So you're getting to use the services of a real estate agent for FREE. Having a real estate agent on your side means you'll get to see homes that aren't as readily available on public searches, you avoid outdated listings and scammers (there are lots of them), and you have protection when it comes to navigating the legalities of contracts and buying a home. Why wouldn't you want an awesome negotiator working to ensure you get the best from the transaction? For FREE!
3. YOU CAN'T BUY A HOME WITH BAD CREDIT
Fortunately for some people, this is a myth. Lenders and banks come by the hundreds of thousands and all though there are a few loan options, a lot of lenders can work with credit scores down to the low to mid 500's. Get in touch with an agent to help you connect with the right lender who can help you potentially approved. There is a lot of factors that go into approvals, but your credit doesn't have to be a sore thumb during the process. However, you will be doing yourself a favor if you connect with a credit repair specialist to at least get those numbers in the 600's. A better score will lower you interest rate. We are in business with some amazing lenders, we like to refer to our preferred lenders as miracle workers! Let us hook you up today! Call 504.382.3724
4. YOUR DOWN PAYMENT HAS TO BE 20%
Think you have to sell an arm and a leg to buy a home? Not at all! An FHA loan only requires 3.5% while a conventional only requires 5%. There are a lot of programs that can potentially help you with down payment assistance or be 0% down mortgage. USDA and VA loans are the most popular 0% down programs. If you qualify, this can take a big chunk off the amount of cash you have to bring to the closing table.
5. DOWN PAYMENTS ARE THE ONLY UPFRONT COST
This is one of the biggest misconceptions. There is a lot of cost that goes into buying a home, and that includes upfront costs. One of the mandatory ones are a termite and appraisal. If you are getting a mortgage, the home will have to appraise and get a letter stating there are no termites in the home. Termite inspections can range between $90-$125 dollars. Locally, An appraisal can range from $300-$500 dollars. There are also 2 other inspections that we ALWAYS recommend to our clients, A General Home Inspection and A Video Plumbing Inspection, the Home Inspection ranges from $300-$500 and the video plumbing inspection ranges between $225-$250. Aside from your down payment, you then have to pay for closing costs. And NO, they are not the same thing. Closing costs can range anywhere between 3-6% of the purchase price. In certain markets, this can be negotiated for sellers to cover by rolling into the offer price, but whether that decision is smart to do or not when it comes to landing your dream home will need to be discussed with your agent. Call one of our knowledgable realtors today and we will help to negotiate a sweet deal for you! 504.382.3724.
Now that you have some knowledge to get the process started, Call The Craig Group today and we will hold your hand every step of the way! 504.382.3724
Author:Jeff Craig Phone: 504-352-6190 Dated: September 17th 2017 Views: 160 About Jeff: SELLING? Our Team of Experts will work closely with you, listening to all your needs. For each of ou...
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SELLING? Our Team of Experts will work closely with you, listening to all your needs. For each of our clients, we extensively research the market to come up with the best selling price and marketing strategy to insure that your home is listed at the proper price to sell in a timely fashion. We are highly motivated and organized people putting your best interest as our TOP priority.
BUYING? We would LOVE to assist you in finding your “dream home.” We pay excellent attention to your housing needs as we search for the perfect home for you. We know the area well and will give you insight on what might work best for your family and personal interests. We will devote our time to help you and your family find your dream home as if we were looking for our own. There are so many lovely homes in the New Orleans Metro & Northshore Areas, Our Team is sure they can find the perfect one for you within your price range!
We would be honored to earn your trust and help you find your own place to call HOME!
Buying or selling a home is one of the biggest financial decisions you will probably ever have to make. Having the right real estate agent by your side representing you is very crucial to having a successful real estate transaction. Experience matters. When you choose to do business with The Craig Group of Keller Williams Realty New Orleans, you are choosing a team of experts with 20 years of combined real estate, marketing and sales experience. Our agents truly care about YOU and your needs. Give us a call today and let us guide you through the real estate process 504.382.3724.
We are your one-stop source for real estate services covering the New Orleans Metro Area, including The Northshore! We take a different approach, one that is built on personal touches, giving you professional results for a positive and memorable experience!
Never Settle For The Rest When You Can Have The Best!!!
Looking for a partner to help you negotiate the complexities of selling a home, you have come to the right place. The experience, dedication and strong communication you will receive here will help ensure the successful and profitable sale of your home:
1. The Local Advantage - Take advantage of a broad spectrum of technologies and tools to support the sale of your home from contract to close.
2. Internet Advertising - Since the lion's share of home buyers starts their search on the internet, top placement on search engines is essential. You will gain access to placement on Google, Trulia, Zillow & Realtor.com websites, just to name a few. This will maximize your exposure and bring a large number of potential buyers to view information about your home.
3. Email Campaigns - It's important to "work the network." We can work together to identify the right people to target your home-and get in touch with them by email to drive excitement and interest.
4. Personal Touch - Of course, technology alone will not sell your home. Face-to-face interaction provides an advantage to selling your home, which leaves less hassle for you! The details will be handled with care and constant communication, to ensure the marketing and sale of home go according to plan.
Call us Today, We would love to WOW you!
How To Price To Sell And Still Make A Profit:
The asking price you set for your home significantly affects whether you will profit in the sale, how much you will profit and how long your home will sit on the market. Your real estate agent's knowledge of the overall market and what's selling - or not selling - will be invaluable in helping you determine the price. The objective is to find a price that the market will bear but won't leave money on the table.
Here are some points to consider: Time. Time is not on your side when it comes to real estate. Although many factors influence the outcome, perhaps time is the biggest determinant in whether or not you see a profit and how much you profit. Studies show that the longer a house stays on the market, the less likely it is to sell for the original asking price. Therefore, if your goal is to make money, think about a price that will encourage buyer activity (read: fair market value).
Value vs. Cost. Pricing your home to sell in a timely fashion requires some objectivity. It's important that you not confuse value with cost - in other words, how much you value your home versus what buyers are willing to pay for it. Don't place too much emphasis on home improvements when calculating your price, because buyers may not share your taste. For instance, not everyone wants hardwood floors or granite countertops.
Keep it simple. Because time is of the essence, make it easy for the buyers. Remain flexible on when your agent can schedule showings. Also, avoid putting contingencies on the sale. Though a desirable move-in date makes for a smoother transition between homes, it could cause you to lose the sale altogether.
Practicing Good Seller's Etiquette
Let's face it: When your house goes on the market, you're not only opening the door to prospective buyers, but also sometimes to unknown vendors and naïve or unqualified buyers. As with any business transaction, there is an expected protocol to how sellers, buyers and their respective agents interact. Should you find yourself in a sticky situation, alert your agent so he or she can address and remedy the problem.
The aggressive agent
When your agent puts your house on the market, typically all promotional materials state clearly that your agent is the primary contact for buyers and buyers' agents. However, sometimes a buyer's agent will contact a seller directly to try to either win over their business or cut the seller's agent out of the deal. This is not reputable behavior and you should report it to your agent immediately if it happens to you.
The unscrupulous vendor
Have you ever started a business or moved into a new house and suddenly found your mailbox full of junk mail? Unfortunately, this also can happen when you put your house on the market. When you sell your home, it necessitates all kinds of new purchasing decisions and less-than-ethical vendors are keenly aware of this. Though MLS organizations enforce rules on how posted information is used, some companies have found ways to cull information from various sources to produce mass mailing lists. If you find yourself regularly emptying your mailbox of junk, let your agent know. He or she can tap the appropriate sources to prompt an investigation into the matter.
The naïve buyer
Yard signs, Internet listings and other advertisements can generate a lot of buzz for your home. Some prospective buyers - particularly first-timers - will be so buzzed to see your home that they'll simply drop by. If this happens, no matter how nice these unexpected visitors are, it's best not to humor their enthusiasm by discussing your home or giving an impromptu tour. Instead, politely let them know that your real estate agent is in charge of scheduling tours and provide them with the agent's contact information. If you attempt to handle these surprise visits on your own, you might inadvertently disclose information that could hurt you during negotiations down the road.
About Alicia & Jeff:
Alicia Lagarde Craig, is a native of St. Bernard Parish and a licensed REALTOR® in the State of Louisiana since 2006, serving Metropolitan New Orleans & the Northshore. Most of our business is centralized in the City of New Orleans due to the location of Uptown Office, although I service all of the New Orleans Metro area, including Jefferson Parish and the Northshore. I am a graduate of the University of New Orleans, holding double major degrees in both Finance and Business Administration with a minor in real estate. In addition, I have extensive experience in both the Sales and Cosmetics Industries, but my first passion is Real Estate. There I combine the best of my analytical, artistic and customer service skills to the benefit of both my buyer and seller clients. As an agent for Keller Williams Realty New Orleans, I maintain a professional relationship with my business partner and fellow REALTOR®, Jeff Craig. Jeff is also my brother-in-law! Both Jeff and I hold Historic Home Specialist Designations, which makes us especially valuable to our clients who are looking to invest in old New Orleans homes.
Jeff Craig, a native and resident of New Orleans, is a graduate of the University of New Orleans and a Keller Williams Realty New Orleans REALTOR serving the entire metropolitan New Orleans area. He specializes in residential real estate in the Uptown, Mid-City, City Park, Carrollton Lakeview/Lakefront and New Orleans East neighborhoods. In additon to his skills as a professional realtor, he brings to his clients twenty years of management and marketing experience from the local hotel, tourism and convention industry.
Article Shared from The Advocate.com By Richard Thompson | August
"This agent was on top of her game. My home was SOLD quickly. Alicia is very nice and goes the extra mile for you.
Anyone looking to buy, sell, rent or own a property, I would highly recommend Alicia lagarde Craig! She is the bomb.com"