14
Jun
By Adrian Willanger
Real Estate, ,

Key Elements and Tips for Maximizing Your Borrowing Power

When it comes to buying a home, securing the right home loan is essential. But what determines how much you can borrow? Understanding the key factors that influence your borrowing power can help you make informed decisions and potentially increase the amount you can secure. Let’s explore these determinants and some actionable tips to maximize your borrowing power. Key Determinants of Borrowing Power Income and Employment Stability Income Level: Your income is a primary factor that lenders consider when determining your borrowing power. Higher income levels generally mean you can afford to borrow more. Employment History: A stable job history…
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13
Jun
By Adrian Willanger
Selling Your Home, ,

Selling Your Home: What to Expect After Your Offer is Accepted

Congratulations! You’ve received and accepted an offer on your home. This is a major milestone, but it’s not the end of the journey. Several steps and processes follow the acceptance of an offer, and understanding what to expect can help you navigate this phase smoothly. Here’s a detailed look at what comes next: 1. Opening Escrow Once the offer is accepted, escrow is opened. An escrow company acts as a neutral third party to hold funds and documents related to the sale. Both the buyer and seller deposit their respective documents and funds into escrow, which are then managed according…
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12
Jun
By Adrian Willanger
Selling Your Home, ,

Signs That You Should Sell Your Home Soon: How to Know When It’s Time

Deciding when to sell your home can be a daunting task. The housing market is unpredictable, and personal circumstances can add layers of complexity to the decision. If you’re contemplating selling your home but aren't sure if the timing is right, here are some signs to help guide your decision. 1. Market Conditions are Favorable One of the most compelling reasons to sell your home is favorable market conditions. Keep an eye on local real estate trends, such as rising home prices and low inventory. When demand is high and supply is low, sellers often have the upper hand, which…
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11
Jun
By Adrian Willanger
Real Estate, ,

Understanding the Real Estate Terms: Pending vs. Under Contract

Navigating the real estate market can be challenging, especially with all the industry-specific terms that get tossed around. Two phrases you're likely to encounter are "pending" and "under contract." While they might seem similar at first glance, they represent different stages of the home-buying process. Let's break down what each term means and how they impact your home-buying or selling journey. What Does "Under Contract" Mean? When a home is listed as "under contract," it means that the seller has accepted an offer from a buyer. However, the sale is not yet final. There are still several steps that need…
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10
Jun
By Adrian Willanger
Financial Reports, ,

What’s Ahead For Mortgage Rates This Week – June 10th, 2024

With the CPI and PPI reports coming up this week, the previous week was light on reports of any significance. Most notable was the Non-Farm Payrolls which can have an outsized impact on inflation data reporting, as it’s a useful barometer to compare the cost of goods to the payroll of the average consumer. Following that is the ISM Manufacturing Index which came in slightly under expectations. Lastly, the JOLTS Job Openings is a minor indicator, but useful for seeing the state of the job market. Non-Farm Payrolls Wages are growing by about 4%. The Federal Reserve wants to see…
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07
Jun
By Adrian Willanger
Real Estate Tips, ,

Tips for Making Your Home Irresistible to Buyers

Selling your home is a significant milestone, and you want to make sure it leaves a lasting impression on potential buyers. One of the most effective ways to achieve this is through the art of staging. Staging transforms your living space, highlighting its best features and making it irresistible to buyers. Here are some expert tips to help you master the art of staging and get your home sold faster. 1. Declutter and Depersonalize Less is More: Start by decluttering your home. Remove excess furniture, knick-knacks, and personal items. A clutter-free space appears larger and allows buyers to visualize themselves…
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