Lynn D'Avolio
Coldwell Banker Residential Brokerage | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 1/30/2018

Buying a home is a life-changing event. As such, the decision to purchase a residence should not be taken lightly.

For homebuyers, it is paramount to get as much help as possible so you can discover a terrific house at a price that matches your budget. With support from an expert real estate agent, you should have no trouble acquiring a residence that meets or surpasses your expectations.

But what does it take to find the right real estate agent to assist you during your search for the perfect home? Here are three tips that every homebuyer needs to know.

1. Ask Family Members and Friends for Guidance

If a family member or friend recently bought a home, he or she may be able to provide real estate agent recommendations. Family members and friends are trusted sources, and their real estate agent recommendations may help you speed up the process of finding your dream house.

Your neighbors also may be able to real estate agent suggestions. They should be able to provide details about what it was like to work with a particular real estate agent so you can plan accordingly.

Of course, you should still perform plenty of research into a real estate professional's background and expertise before you hire this individual. Be diligent during your search for a real estate agent, and you can employ a real estate professional who will go the extra mile to help you discover a great house.

2. Search the Web

A simple web search of a real estate agent's name may enable you to learn a lot about this individual. In fact, a web search often provides a great way to find out about local real estate agents quickly.

Although a web search may help you examine a variety of real estate agents in your city or town, it is essential to fully evaluate a real estate professional's credentials.

If possible, search for client feedback about a real estate agent. This may help you determine whether to move forward with a particular real estate agent or shy away from this housing market professional altogether.

3. Meet Directly with Several Real Estate Agents

When it comes to finding the right real estate agent, nothing beats a one-on-one meeting.

Set up meetings with several local real estate agents. By doing so, you can get a better idea about whether a real estate agent can help you accomplish your homebuying goals.

It often helps to make a list of questions to ask a real estate agent before you meet with him or her. That way, you can gain the insights you need to make an informed decision.

If you feel comfortable with a real estate agent after a face-to-face meeting, don't hesitate to hire this professional. Remember, the sooner you start working with an expert real estate agent, the sooner you may be able to purchase your dream house.

Use these tips, and you can hire a first-rate real estate agent to guide you along the homebuying journey.




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Posted by Lynn D'Avolio on 12/26/2017

Submitting a "fair" offer on your dream home may seem difficult, particularly for a first-time homebuyer. Lucky for you, we're here to help you determine what it takes to submit a fair offer on a home that increases the likelihood that a home seller will accept your proposal without delay.

Now, let's take a look at three tips to ensure that a first-time homebuyer can submit a fair offer on a house.

1. Study the Housing Market Closely

Are you preparing to submit an offer in a buyer's market or a seller's market? Ultimately, the current state of the housing market may help you define a fair proposal based on the sector's conditions.

For example, a buyer's market frequently includes an abundance of top-notch residences and a shortage of homebuyers. In this market, you may be able to submit an offer at or below a home seller's initial asking price and receive an instant "Yes."

On the other hand, a seller's market usually features a shortage of high-quality houses and an abundances of homebuyer. As such, you may need to submit an offer at or above a home seller's initial asking price if you want to secure your dream residence.

For first-time homebuyers who analyze the housing market closely, they should be able to differentiate between a buyer's market and a seller's market. That way, a first-time homebuyer can determine fair market value for a residence and submit an offer that corresponds to it.

2. Evaluate Your Homebuying Budget

There is no need to overspend for a house, regardless of the current housing market's conditions. But with a homebuying budget in hand, a first-time homebuyer can resist the urge to pay too much to acquire an outstanding residence.

Getting pre-approved for a mortgage often provides a great option for those who are uncertain about how much they can spend on a home. This budget will enable a homebuyer to narrow his or her home search based on the finances at his or her disposal.

Meet with a variety of banks and credit unions to learn about all of your mortgage options. Then, you can select a mortgage that matches your budget and move one step closer to acquiring a terrific residence.

3. Work with a Real Estate Agent

A real estate agent is a must-have for a first-time homebuyer, and for good reason. This housing market professional can teach you about the intricacies of buying a house and help you submit a fair offer on a residence any time you choose.

Furthermore, a real estate agent will guide you along each stage of the homebuying journey and help you overcome any potential pitfalls along the way. And if you ever have homebuying concerns or questions, a real estate agent is happy to respond to them at your convenience.

Take advantage of the aforementioned tips, and by doing so, a first-time homebuyer should have no trouble submitting a fair offer on a residence.




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Posted by Lynn D'Avolio on 12/12/2017

Are you ready to buy your first home? Although you may conduct plenty of research, know your budget and understand what you want to find in your first residence. Problems may arise along the way that could force you to rethink your homebuying plans. So what does it take to ensure your first home purchase will be a successful one? Here are three lessons that every first-time homebuyer needs to know: 1. Purchase a home only when you're comfortable with your decision. Let's face it Ė buying a home can be stressful, regardless of whether you're a first-time homebuyer or have purchased multiple residences in the past. As a result, stress can be problematic, and it ultimately may lead you to buy a home before you're ready to do so. In a stressful homebuying situation, be sure to take a step back and explore all of the options at your disposal. By doing so, you can minimize the risk of committing to buy a home in the heat of the moment. When in doubt, don't be afraid to consult with family members, friends and, of course, your real estate agent. A strong support system can make a world of difference for a first-time homebuyer, and it might even help you eliminate stress throughout the homebuying process. 2. Put aside money for home improvements. Budgeting for a home can be tricky. Ideally, you'll want to be able to put at least a few thousand dollars down on your purchase. You'll also want to ensure that you're in great shape financially to handle your mortgage payments. At the same time, you should try to put money aside for potential home improvements. Although you've conducted an extensive home inspection, there are no guarantees that your home will maintain its quality for an extended period of time. As such, having a "rainy day fund" will ensure you're ready to handle numerous home improvement projects down the line. Adding money to your rainy day fund each month can deliver long-lasting benefits. This will allow you to be ready for any home improvement issues that may arise, along with avoiding the anxiety commonly associated with finding the finances to afford home repairs. 3. Understand the ups and downs of the real estate market. What you pay for your home today may not be what it's worth tomorrow. In fact, the real estate market fluctuates frequently, so you'll want to understand that your house's value will change in the years following your purchase. In many cases, the value of your home will rise over the years. But in some situations, it may fall. Remember, buying a home is a major decision and is not without risk. Even though you might expect your home's value to skyrocket, you'll still need to take care of your house. Maintaining your residence will boost your chances of increasing its value, regardless of the real estate market. However, you need to be aware that a buyer's market can change into a seller's one at a moment's notice, so there is always a chance that your house's value will go up and down periodically. Be a prepared homebuyer, and you can minimize problems as you explore the real estate market for your first residence. Thus, you'll be better equipped to find a house that fulfills your needs and will serve you well for years to come.





Posted by Lynn D'Avolio on 10/24/2017

Have you heard the term ďearnest moneyĒ but really arenít sure what it means? Once you have found the perfect home and are all set to make an offer, thereís one more step that you need to take. Thatís to make a deposit on the home you want to buy. This is known as an ďearnest money deposit.Ē  


The Purpose Of The Deposit


The deposit shows the seller that youíre serious about buying the home. Itís a measure that allows the seller to have some faith in you as a buyer that youíre truly moving forward with your decision; youíre ready as a buyer to make the financial commitment. This deposit allows the deal to begin on a solid basis without much question. 


Is The Deposit Required Legally To Buy A Home?


From a sellerís perspective, a deposit keeps a buyer from changing their mind. If there is a significant amount of money involved, the seller sees the deposit as a way to keep the buyer locked in. This makes it easier for sellers to accept an offer. 


How Much Is Expected For An Earnest Money Deposit?


These deposits donít quite have a standard amount. The general rule is that they range from 1% of the home price up to 5%. The more expensive of a home thatís being purchased, the larger the earnest money deposit should be. In some cases, the seller may even ask for a certain amount of a deposit to ensure that buyers are serious. How much money you pay at once is often negotiable. You may be able to pay part of the money at one time and the other part at a later date.


New Construction Can Require Large Deposits


New construction homes can require large earnest money deposits- up to half of the purchase price of the home. This is because the construction costs need to be paid upfront and the bank wants proof that the units being constructed with loan money are being sold to buyers who can pay for the home. 


New construction homes are often customized as well. It would be detrimental to a developer to make special changes to a home only for a buyer to walk away. 


Getting The Deposit Refunded


As with everything in real estate, youíll have a contract. If you donít follow the terms of the contract, you risk losing your earnest money deposit. Two main reasons for buyers to walk away are a flopped home inspection or financing that falls through. Read your contracts carefully. Sellers sometimes state that deposits are nonrefundable after a certain number of days. 


You need to be sure that you are covered as a buyer in the purchase and sales agreement. If you back out of a home purchase without good reason like a contingency included in the agreement) you could be out of luck when it comes to getting your deposit back.    






Tags: Buying a home   finances  
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Posted by Lynn D'Avolio on 8/29/2017

As you go on the house hunt, youíre likely to attend many different open houses. After awhile you can get confused as to what you have seen and where you saw it. Each open house or home showing is only a short window of time. As a buyer, youíre trying to get the feel for a house. Being an observant home shopper can help you to avoid a lot of problems down the road. Check out some of the biggest red flags that you need to look out for when you attend an open house.


The Candles Are Burning Bright


You walk into an open house and see a lovely candle lit on the kitchen table. While it may make you feel all warm and fuzzy, itís not always a good sign. Candles are a great way to mask odors. There could possibly be a musty odor coming from the sink, the basement, or another part of the house. This spells hidden damage and possible danger for you as a homebuyer. While the home inspection should pick up on things like this, you donít necessarily want to get that far in the process. The art of masking odors could be a sign that the sellers are trying to hide something.


Be Your Own Inspector


As you walk through the home do you notice squeaky floor boards, cracks in the walls, cracks in the ceilings, or a drippy faucet? Maybe you see some patches on the walls or mirrors and paintings that seem out of place? These are all issues that could be signs of a greater problem. Keep in mind that no house is perfect, but you should do a little investigating on your own while walking through the house at showings.


The Home Doesnít Appear Cared For


Curb appeal is one thing, but a home that looks unkept is a sign of a larger problem for you. Has the lawn been mowed? Is the fence in disrepair? How does the home appear from the outside at first glance? There are plenty of ways that you can fix up a home to make it your own once you buy it, but the question is just how much of a challenge are you up for? There is always a chance that youíll have large maintenance costs when a home hasnít been properly maintained by the previous owners.


Searching for homes and going to open houses can be fun. It can also be an educational experience to help you narrow down what youíre looking for and what you can handle as a homeowner.            





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