Lynn D'Avolio
J. Barrett & Company | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 5/21/2019

If you discover a house that you want to buy, it generally is a good idea to submit a competitive offer. That way, you can move one step closer to acquiring your ideal residence.

However, the hours after you submit a home offer can be stressful, particularly for a buyer who fails to plan accordingly. Lucky for you, we're here to help you stay calm, cool and collected as you wait to receive a seller's response to your offer.

Let's take a look at three tips to help you get ready to handle a seller's response to your homebuying proposal.

1. Plan for the Worst-Case Scenario

Even the worst-case scenario is not the end of the world for a buyer who is awaiting a seller's response to a home offer. In fact, if a seller rejects your proposal, you can always reenter the housing market and continue your pursuit of your dream home.

As you await a seller's response to your home offer, you should not stop searching for available houses. Because if you continue your home search, you'll have no trouble moving forward in the homebuying journey if a seller rejects your home offer.

2. Consider All of Your Options

If you submit a home offer and a seller says "Yes," what should you do next? Consider how you'll proceed if a seller accepts your proposal, and you'll be better equipped than ever before to enjoy a seamless homebuying experience.

On the other hand, it helps to prepare for a potential counter-offer from a home seller as well. If you are open to negotiating with a seller, you may be able to find common ground with him or her and finalize a home purchase.

3. Consult with a Real Estate Agent

A real estate agent knows all about the stress that is commonly associated with submitting a homebuying proposal. He or she can help you minimize this stress and ensure you can achieve the best-possible results throughout the homebuying journey.

Typically, a real estate agent will work with you to submit a homebuying proposal. This housing market professional then will keep you up to date as you await a seller's response to your offer. And if you have any concerns or questions during this time, a real estate agent is happy to respond to them.

A real estate agent will make it simple to streamline the homebuying journey too. For instance, if a home seller accepts your offer, a real estate agent will be ready to help you move forward with a property inspection and appraisal. Conversely, if a home seller rejects your proposal, a real estate agent will be prepared to work with you to help you discover another house that matches or exceeds your expectations.

The waiting period after you submit an offer on a house may prove to be a challenging time. Fortunately, if you plan ahead for this period, you can maintain your confidence and continue to move forward in the homebuying journey.




Categories: Uncategorized  


Posted by Lynn D'Avolio on 5/14/2019

For many individuals, the homebuying journey often begins with getting pre-approved for a mortgage. Because if a buyer has a mortgage, he or she can enter the real estate market with a budget in hand.

Ultimately, there are many signs that now may be the perfect time to apply for a mortgage, and these include:

1. You're ready to upgrade from an apartment to a home.

If you're tired of paying monthly rent for an apartment, purchasing a house offers a viable alternative. And if you get pre-approved for a mortgage, you can move one step closer to moving from an apartment to a house.

In most instances, a home offers a significant upgrade over an apartment. Many residences are available in cities and towns nationwide that offer more space than apartments. Plus, as a homeowner, you won't have to worry about dealing with a landlord.

2. You feel good about your credit score.

If you have a strong credit score, you likely are a great candidate for a mortgage. In fact, you may be better equipped than others to get a favorable interest rate on the mortgage of your choice.

Understanding your credit score is a key part of the homebuying journey. You can request a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Then, once you find out your credit score, you can determine whether you are in good shape to pursue a mortgage.

3. A buyer's market is in place.

In a buyer's market, there usually is an abundance of top-notch houses and a shortage of buyers. This means a homebuyer may be able to get a wonderful deal on a house, especially if he or she performs a comprehensive house search.

To find out whether a buyer's market is in place, you should check out the prices of recently sold houses in your area. Also, you may want to find out how long recently sold houses were listed before they sold. By reviewing this housing market data, you can differentiate a buyer's market from a seller's market and decide whether now is the right time to apply for a mortgage.

If you're interested in getting a mortgage and starting a house search, you may want to hire a real estate agent too. Because if you have a real estate agent at your side, you can receive extensive support at each stage of the property buying journey.

A real estate agent will teach you everything you need to know about pursuing a house. He or she will offer insights into the local housing market and ensure that you can conduct a successful house search. And if you ever have concerns or questions along the way, a real estate agent is ready to respond to them.

Want to launch a home search? Get pre-approved for a mortgage, and you can take the first step to acquire your ideal residence.




Tags: Buying a home   Mortgage  
Categories: Uncategorized  


Posted by Lynn D'Avolio on 4/9/2019

The rent vs buy dilemma is something that Americans have been facing for decades. Both options have their benefits, and itís really a matter of timing and preferences when it comes to choosing which is best for you.

However, there are a lot of things to consider before making this decision. So, in todayís post weíre going to break down some of the benefits of renting an apartment and of buying a home. That way you can make your decision with a clearer picture of what each situation looks like.

One thing to note first, however, is that it isnít always as simple as buy vs rent. Some living situations draw on the pros of each type of living. For example, living in a condo might be a good option for people who want the privacy and independence of owning their own home, but who also donít have the time or desire to keep up with maintenance.

So, as we compare buying and renting, keep in mind that the features of each are not mutually exclusive.

Renting an apartment

Most people who are living on their own for the first time start off renting. For younger people just out of school, renting offers the first taste of independence without the prerequisites of homeownership.

When you rent your first apartment, youíll learn the skills associated with budgeting for your monthly expenses, making your rent payments on time, and will start learning some of the skills that it takes to run a household.

In terms of monthly costs, apartments can vary greatly. Depending on where you live (and how luxurious the apartment is) you could end up having rent and utility payments that are much lower or much higher than mortgage payments for a house.

However, apartment leases often come with the benefit of utilities, trash removal, and other expenses built in. They also typically require the landlord to maintain the apartment and the land it sits on.

Live in the northern part of the country and hate shoveling snow? Make sure your lease specifies that your landlord will provide snow removal.

One technique that many renters take is to find an apartment that is small and affordable while they save up for a home. In this case, itís worth living with fewer amenities if your end goal is saving for a down payment.

But, what if you want to own a home someday but havenít quite decided where you want to settle down? Maybe your work keeps you moving from place to place or youíve always wanted to move away to somewhere new.

Renting is typically a better option for those who arenít quite sure what their plans are for the next coming years. They can have a stable place to live while they figure things out and plan their next move.

Buying a home

Once youíve rented a home for a while, you might become increasingly aware that you want more space and more control over your home.

Youíre also likely noticing how much money you spend on rent each month that is essentially a net loss.

When you buy a home, your mortgage payments might be going to the bank, but someday the money youíve paid toward that home will be yours in the form of equity. You can then use this as a down payment for another home.

This financial benefit cannot be understated. Since house values dependably increase over time, owning a home is a great investment toward your future.

So, those are the main pros and cons of renting vs buying a home. Think about your circumstances and determine which one makes the most sense for you right now. Then, start planning for the future.




Categories: Uncategorized  


Posted by Lynn D'Avolio on 4/2/2019

If youíre in the market to buy a home, you have a lot of options. Do you want to buy a fixer-upper? Should you get a home close to the city or nestled in the suburbs? How much can you spend on a home to get the amount of space youíll need for you and your family. There are so many variables that exist in the decision to buy a house.


One thing that many buyers want but arenít sure of is the concept of a ďmove-in-readyĒ home. Sometimes, move-in-ready means that a home is brand spanking new. There should be no work in the house that needs to be done because everything is installed new during construction. As soon as construction is completed, you should be able to move right into the home. 


Other homes that are deemed ready to move right in are those that are relatively new and have very little work to do. If a home has a roof thatís caving in, itís not move-in-ready. If a home needs paint, itís a sure bet that you can move right in. You may just need a bit of elbow grease in some of these situations. Itís your job to let your real estate agent know what you are looking for and what your budget is. Read on to discover the benefits of buying a move-in-ready home. 


You Can Enjoy It ASAP


It takes a lot of work and a lot of cash up front to buy a home. You want to enjoy the fruits of your labor sooner rather than later. If you buy a home that needs little to no work, youíll be able to enjoy it sooner. Thereís no waiting period to move in when you buy a house thatís in excellent condition. You can just start living.


New Upgrades


If you buy a home that you can move right into, you will often get things that are trending at the moment. The best of appliances, technology, and security are just some of the benefits that youíll be able to enjoy when you buy a home that doesnít need a lot of work. 


Good Location


Many times, youíll find move-in-ready homes in great locations. These homes will also give you a great resale value once you head to sell the house in the future.


Motivated Sellers


Whether you buy a brand new home or a home that has been upgraded, these sellers are often very motivated. Builders want to get paid for the work they have done. Sellers of upgraded homes wish to get their homes off of their hands and get a return on their investment.


Finding a move-in-ready home may take some time, but the benefits are definitely worth it.          




Categories: Uncategorized  


Posted by Lynn D'Avolio on 3/19/2019

Looking to buy a house in the near future? If your answer is "Yes," you may want to start reviewing housing market data. That way, you can gain the insights that you need to make data-driven decisions throughout the homebuying journey.

Ultimately, there are many housing market data that you'll want to assess as you prepare to buy a house, such as:

1. Mortgage Interest Rates

Mortgage interest rates fluctuate constantly. As such, if mortgage interest rates are low, you may want to move quickly to capitalize on them.

Meeting with banks and credit unions generally is a great idea if you plan to buy a house. These financial institutions can keep you up to date about mortgage interest rates and help you get pre-approved for a mortgage. Then, once you have a mortgage in hand, you'll be ready to pursue your dream house.

2. Average Amount of Time That a House Stays on the Real Estate Market

Differentiating between a buyer's market and a seller's market often can be difficult. Fortunately, if you examine the average amount of time that houses are listed in your city or town, you may be able to determine whether you're preparing to enter a buyer's or seller's market.

In a buyer's market, houses may be listed for many weeks or months before they sell. Also, these houses may be sold below their initial asking prices.

Comparatively, in a seller's market, homes may be available for only days before they sell. Homes that are available in a seller's market may be sold at or above their initial asking prices as well.

3. Prices of Houses in Various Cities and Towns

If you're open to living in a variety of cities or towns, you'll want to evaluate the prices of houses in many areas. That way, you can narrow your house search accordingly.

Oftentimes, homes in big cities are more expensive than those in small towns. On the other hand, big cities may provide quick, easy access to a broad range of attractions and landmarks that you simply won't find in small towns.

If you are ready to check out housing market data and begin a home search, it pays to hire a real estate agent too. In fact, with a real estate agent at your side, you should have no trouble enjoying a quick, seamless homebuying experience.

A real estate agent is happy to provide you with a wealth of housing market data. Plus, a real estate agent will teach you the ins and outs of buying a house. He or she also will keep you up to date about new houses as they become available and negotiate with a seller's agent on your behalf to ensure you can acquire a terrific house at a fair price.

When it comes to buying a house, it helps to be informed. If you assess the aforementioned data, you can obtain comprehensive real estate market insights to help you throughout the homebuying journey.




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