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Home Buying Made Easy

Tuesday, April 26, 2022
by Scott Darling


If you are currently in the market for buying a house, then you are likely already aware of just how difficult it can sometimes be.  There are many stressors throughout the process that can make the home buying process seem anything but easy.  Below are a few ways that home buying can be made a bit easier if you do your part to put them into action.  

 

  1.  The first and most important thing you need to do before looking for a home to buy is to find an agent.  The reason this part is the most important is because buying a home is a huge financial obligation and you want to choose the right person to help you with such a big decision in your life.  A good way to find an excellent Realtor is to talk with your friends and family members that you trust to see whom they have used in the past.  Once they give you a few suggestions, you can meet each one and see which one best matches your personality wishes.  You will be spending quite a bit of time with this person so you want to make sure that you get along beautifully with them. 
          

  1. The next step in home buying made easy  is to find a lender.  Many times you can find out from your Realtor about what lenders they tend to use or who they think can be the best match for you and your particular situation.  If your Realtor doesn’t lead you to the best match, again you can talk to your friends and family for suggestions.   
     

  1. You then need to make sure your credit is as clean as it can possibly be.  Lenders can many times give you a bit of guidance in this area so that you can get approved for a loan.   
     

  1. It is important that you get pre approved for a loan before you go out searching for the home of your dreams.  The lender that you choose will help you to know exactly how much of a house you can comfortably afford before you get your heart set on one.  
     

  1. Lastly, figure out exactly what you are looking for in a house.  Make a list of your wants and desires in order of their importance.  This will help to guide you in your home buying adventure and will help avoid wasting precious time.  
     

These are just a few ideas on how to make the home buying process a bit easier.  Once you do your part to put all of these in motion you will be well on your way to finding the home of your dreams.   

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: Connor Homes

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Chester County PA Real Estate Market Trends for March 2022

Thursday, April 21, 2022
by Scott Darling

Chester County PA Real Estate Market Trends for March 2022

Chester County PA single-family homes saw pending sales decrease by -15.7% in March 2022 when compared to March 2021. 488 homes sold in February with a median sales price of $454,770. The average days on the market fell by 5 days. If you are thinking about selling your home get a free instant home evaluation Learn More. 

 

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Common Real Estate Myths

Wednesday, April 13, 2022
by Scott Darling

If you are in the process of buying or selling a home, you may have already come across some of these common real estate myths.  Real estate myths are abundant and are quite prevalent in the real estate world.  Below you will find a few real estate myths to be wary of whether you are buying or selling a home. 

  1. Some folks believe that if you don’t use a real estate agent you are likely to get a better deal.  This is totally false because no matter which one of you have the agent…one of them is going to get the commission be it the buyer’s agent or the sellers agent.  The only way to get around dealing with paying a commission to a realtor is if you sell or a buy a home that is for sale by owner.  If you do decide to purchase or sell by owner, be very careful because there are a lot of things that can and perhaps will go wrong when you try to go it alone.  Real estate agents deserve all the commission they get because they do a lot of work that you don’t have to worry about doing yourself. 
     
  2. Another common real estate myth is that you should set your asking price higher than what you expect to make.  If you price your home too much above the market value you are likely going to be doing yourself an injustice.  Folks are going to pass your home by because they know that it is not in their price range.  Setting your home at a reasonable price is a good way to get buyers to show some interest and not be scared off by sticker shock. 
     
  3. Yet another common real estate myth is that all of the houses listed in the multiple listing systems are all available to look at online.  Most of the houses on MLS are listed online but if you don’t tell your realtor that you want your home listed online he or she may not do so. 
     
  4. Another real estate myth  is that having an open house will basically guarantee that you home will sell.  While open houses are good to get folks out looking at your house, they don’t always bring the buyer to your door.  Typically those that look at your house during an open house are just browsing and likely won’t give you an offer. 

Do your part not to let these real estate myths fool you by knowing them ahead of time before you buy or sell a home.  

Courtesy of Chester County PA Realtor Scott Darling. 

Photo credit: Realty Leadership

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Mortgage Shopping: Avoid These Mistakes

Thursday, April 7, 2022
by Scott Darling


Searching for the right mortgage for your new home is likely the most important step when buying a new home. Having that preapproval lets you know how much house you can afford as well as getting your wallet ready for budgeting. There are some things you can do that can make lenders second guess your application, and you want to avoid doing anything that can sabotage the purchase of a new house: 

 

  • - Not knowing what is on your credit report can set you up for a surprise when a potential lender pulls it for inspection. Obtain a free report through your bank or credit union so you can correct or dispute errors before you fill out a loan application. 
     

  • - Sending late payments on credit cards and other monthly bills during the approval process will show on your credit report. 
     

  • - Opening a new line of credit for large purchases will raise your debt-to-income ratio (DTI). Except in emergencies, avoid buying anything on credit until after closing on your new home. 
     

  • - In the same manner, closing credit accounts can negatively affect your credit score. If you have paid off credit card balances, leave them active, as this shows lenders that you have credit options available. 
     

  • - Trying to help a family member get a loan by co-signing with them will raise your DTI and can discourage lenders. 
     

  • - Unless it is completely unavoidable, changing jobs can hurt your loan chances. Lenders like to see a steady income from employment with the same company or same field. 
     

  • - If you are using gifted funds to assist with the down payment, do not deposit the money into your bank account without documentation from the giver. Learn more about the procedures for down payment gifts from the balance. 
     

  • - Do not let poor credit and lack of a 20% down payment keep you from buying a house. FHA, USDA, and the VA all have programs to help make the dream of homeownership a reality. Check each website for eligibility requirements. 

 

Lastly, buying a home without a REALTORⓇ can be a costly mistake. No, there is no money coming directly from your pocket to pay the buyer agent–their pay comes from the home sale. Find a reputable agent who knows how to find the right house for your budget as well as your wants and needs, plus knows all about negotiating a home sale price. 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: Clover Mortgage

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