by Tammy Murphy | Apr 21, 2016 | Current Events, Real Estate News, Sellers
So the tide has turned, in fact, we were telling clients in October that we were seeing the signs of change for the market to be favoring Sellers. Now it appears all the rest of the consensus is in agreement and the data is proving, in fact, we are in a Seller’s Market. But as a BUYER – you will want to know what that means for you…and we can help you navigate the way to still get the home you want for a price you can afford. Here are some things to keep in mind:
DAILY REAL ESTATE NEWS | FRIDAY, APRIL 08, 2016
In a seller’s market, home buyers need to be willing and able to act fast to snag the home they want. This spring, areas across the country are facing a limited number of homes for sale. Realtor.com® offers up a cheat sheet for surviving a seller’s market.
- Be on call. “If you’re only looking now and then when it’s convenient, you’re probably wasting your time,” says James Malmberg, a real estate professional in Sherman Oaks, Calif. He suggests treating house hunting like job hunting. If someone calls with a lead, follow up promptly to gauge whether it could be a good fit and don’t linger.
- Bring the paperwork. To be taken seriously, buyers would be wise to get a mortgage pre-approval letter as well as a “proof of funds” form from their bank to show they have enough to cover a down payment. They’ll be able to act quicker when they do find the right house.
- Limit the contingencies. In a seller’s market, buyers may need to drop some of the contingencies to score the house. Sellers prefer the fewest number of hurdles to closing as possible. If your buyers come in with several contingencies — such as “if” they secure financing — the sellers are more inclined to bypass their offer and take another with less hassle. Also, “don’t waste your time lowballing a seller,” advises Sean Kelley, a real estate professional with Howard Hannah in Pittsburgh, Pa. “Always put in an aggressive offer.”
- Cast a wide net. Search for homes outside prime locations if faced with limited or high-priced choices. Buyers need to carefully consider what they’re willing to compromise on. “Sometimes properties sit, even in a seller’s market, because of a problem that is scaring other buyers away,” such as some renovation work that may need to be done, Malmberg says. Those “flaws,” however, might not be a big deal to your buyers. “Finding a house this way can also cut down on the amount of competition you will face,” Malmberg adds.
by Tammy Murphy | Jan 12, 2016 | Military, Real Homes to Love
Understanding the costs of moving expenses is complicated and with projected changes to the allowance for military families – it may just cost more to make it happen!
Well, it’s a bit of a Bah, Humbug this Christmas season for military families who are experiencing a second consecutive effective reduction in their Basic Allowance for Housing (BAH) this year.
I say “effective” reduction because, technically, BAH rates have risen by an average of 3.4%, which translates to roughly $54 per family. This increase still means that if you are a military family, you will now be responsible for an additional 1% of your housing expenses in 2016.
The 1% increase is on top of the additional 1% that you paid in 2015. There’s no sign of this downward trend letting up either, as by 2019, military families should expect to cover 5% of their out-of-pocket housing costs.
It’s not that we weren’t expecting this to happen, though. If you’ve been reading along with our coverage of the projected changes to BAH over the past few years, you’ll have noted that this is a much more positive outcome for military families than we could have expected (it’s good to look for the silver lining, right?). At one point, it looked like the DoD would eliminate BAH. At another point, rumors suggested that military families would return to covering 20% of their out-of-pocket housing costs, as they did when BAH first originated.
What does this mean for you?
If your BAH is roughly $1,500, then you could expect to pay yet another $50 in additional housing expenses next year. However, this rate of reduction only applies to military families who PCS, as those currently on station are grandfathered into their current BAH rate (unless BAH rises, and then the new allowance applies).
$50 per month may not seem like a lot, but it quickly adds up. At the end of the year, your family will need to cover approximately $600 in housing expenses.
Courtesy of MilitaryByOwner posting
by Tammy Murphy | Sep 23, 2015 | Current Events, Neighbor Chat, Real Estate News
I know many of us have been “burned” when it comes to maintenance, repairs and contractors. This INFO-GRAPHIC is a great visual aid in helping YOU to AVOID the Scam…
by Tammy Murphy | Sep 10, 2015 | Commercial Properties, Current Events, Neighbor Chat, Real Estate News
If you and I have met, you probably figured out that I support our military…more than just in words – but also in deeds! I continue to be an active part of the Blue Star Mothers, Miami Valley Chapter #3, currently serving as the Chapter President for a second term and previously in other capacities as well. I know from my own experience with my son serving – that the demands and needs of our military is often UNDER-SERVED. I WILL ENSURE THAT I ASSIST IN THE MEANS THAT I AM ABLE SO THAT OUR MILITARY ARE BETTER SERVED! This goes well with being TRAINED in the VA Loan Process – beyond what is typical and knowing the basics and to adding a DESIGNATION for the service that I can provide as a Military Relocation Professional. I am proud of the MRP designation, but even more proud of those WHO ANSWER THE CALL TO SERVE OUR NATION. As a Broker, I am in a unique position to go above and beyond and my actions speak for themselves. I HIRE MILITARY who are seeking to add Real Estate to their professional careers (after their service, retirement, or as a second source of income.) If you are looking to make a MOVE for your Military Needs – please be sure to give me the opportunity to THANK YOU for your service – by offering the BEST IN REAL ESTATE SERVICE for YOU.
