Thursday, September 14, 2023 / by Shane Kilby
Sharing three things you need to consider when buying a foreclosed home.
One way for homebuyers to find a great deal on a property is by purchasing a foreclosed home. This is a home that has been repossessed by the bank or a lender after the owner failed to make mortgage payments. According to real estate data curator ATTOM, although still below pandemic levels, the number of foreclosed homes has increased from February 2022 to February 2023, so now is a great time to consider this option.
However, buying a foreclosure can be a complex process and sometimes more difficult than buying a traditional listing. To help you secure a great deal in today's market, consider these three important points when searching for and buying a foreclosure:
1. Hire an experienced real estate agent. By partnering with an experienced agent who specializes in foreclosures, you can gain access to listings that may not be available to the general public. They can also provide insight into the loca! ...
Thursday, August 3, 2023 / by Shane Kilby
Tips to help you buy your dream home contingent on selling your old house.
Do you already own a home but want to buy a new one? Unfortunately, not everyone has the money to keep two homes and pay both mortgages. Most people will have to sell their current property to have the funds to pay for the new house. However, two transactions can sometimes mean double the headache. If you're in this position, what can you do to ensure a successful home purchase?
One option that you have is to include a home-sale contingency clause in your offer. This means you will only buy the new home if your current one sells. If it doesn’t, you are free to walk out of the purchase agreement. However, home-sale contingencies can make your offer less attractive to sellers because it introduces uncertainty, may cause delays, and has the potential to make the deal fall through.
"Working with an experienced agent can instill confidence in the seller that your home will sell on the market."
Tuesday, November 8, 2022 / by Shane Kilby
Three things about the current market that buyers should take advantage of.
With all the news of the recession, changing mortgage rates, and rising inflation, are you wondering if it’s a good time to buy a home? The truth is that today's housing market isn't a challenge; it’s an opportunity. Here are three reasons why you should still consider buying a home today:
1. The intensity of bidding wars is easing up. Month over month, the data shows the number of offers on recently sold homes is declining. That's good news if you've been outbid previously, or you’re just tired of dealing with the frenzy and the crazy market.
2. Fewer homes are selling for over asking price. While it's still a very competitive market, the percentage of homes that have sold over list price recently has declined.
3. The supply of homes for sale is increasing. That means you have more options to choose from in your home search.
If you're thinking about buying ...
Tuesday, October 25, 2022 / by Shane Kilby
Even with inflation, it’s still better to buy a home, and here’s why.
Have you ever wondered if you should rent or buy a home? With inflation rising, you might be wondering if you should put your plans to purchase a home on pause. However, I do believe there are some strong benefits to buying, and I’m here to show you the data to back up my claim.
At 0:20 in the video above, you will see a graph of the median asking rent since 1988. It shows that prices have been rising consistently. Rates rising everywhere and in both avenues can be a tough pill to swallow. However, when you buy a home, you get to lock in your monthly payment for the length of that mortgage. Plus, you get to pay down the loan. You gain equity, and that will help you build your net worth.
If consistent payments and growing your long-term wealth are important to you, homeownership should be too. We know what steps renters need to take to become homeowners, so let's connect over ...
Tuesday, September 13, 2022 / by Shane Kilby
The market is shifting—is it time to search for your dream home?
Buying a home can be a struggle on a good day, and the market over the last few years has definitely not made it any easier. We had issues with low housing inventory and fierce bidding wars.
The good news is that things are starting to shift. Inventory is increasing, more homeowners are listing their houses, and the rising mortgage rates are moderating the market. This means buyers have more options when searching for their next home. The past bidding frenzy is cooling off and stabilizing our market.
If you’ve put your home search on pause because you were worried you wouldn’t find the right home or would get outbid, now might be the right time to jump back into the market. It won’t be easy—inventory is growing yet still low—but it won’t feel as impossible as it has in recent years.
Are you ready to get started on your home-buying journey? Reach out to me or one o ...