Regarding Real Estate LLC



Posted by Regarding Real Estate LLC on 6/15/2019

Buying a home can be frustrating, time-consuming and tiring. It requires patience on your part as a buyer. There are process and procedures you need to go through after you decide to buy a house but before the ownership of a home becomes yours. 

Getting a house that you love and would meet all your demands can be quite tricky. However, getting one and thinking you are finally sorted, only to get rejected can be heart-breaking. Below are a few reasons why your offer for that beautiful property met a rejection:

You Canít Afford The Purchase Price

Among all the reasons below, this is probably the most common of them. Getting a house and the seller is requesting for an amount above what you intend paying would make your offer rejected. Many sellers can be difficult especially when they think their homes are worth more than the offer you are placing on the table. Ask your agents how much such houses have been selling for on the market to minimize your chances of running into this problem.

A Better Offer Is on The Table

Homeowner wanting to sell their property will go for the highest bidder. Itís not uncommon for a seller to withdraw an offer for purchase already given because he or she got a better offer. A house that gets a lot of attention would attract more than a buyer. What you as the buyer can do (since you canít tell how much other buyers are bidding) is to keep your price as close to the selling price as possible, this gives you enough room for competition. 

Time Frame Differs

Some sellers want the sale of the property concluded at a particular time. The seller of a property can reject your offer if you as the buyer cannot meet his time frame either because you do not have enough money yet or because of an unprocessed loan request. A seller can also reject your offer if you are trying to move in at a time that is not suitable or convenient. Inform your agent if you have a deadline to move into the new property and ask if itís going to be possible.

Difficult And Unrealistic Sellers

Regardless of how good an offer might be, some sellers would still choose to be difficult. When looking to buy a property, you should expect to meet such sellers and come prepared for how to handle them, especially if they have a feature you would love to purchase. 

In conclusion, finding your dream home is a small part of the property buying process. Often, buyers go through many rejections before finally getting a letter of acceptance.





Posted by Regarding Real Estate LLC on 6/14/2019

There are different kinds of mortgages available to prospective homeowners today. The right mortgage for you will depend on a number of factors, including your level of income and credit rating. While there are numerous mortgage products available to buyers today, they will mostly fall under the categories below:

FHA-Backed loans

Most folks getting a home for the first time will purchase it with the help of a Federal Housing Administration loan. Introduced back in the 1930s after the Great Depression, these loans are insured by the government and hence come with attractively low-interest rates. Since the government backs them, even folks with a bad credit score can confidently apply for FHA loans. If you can't raise all of the down payment the seller is asking for, an FHA loan is ideal. 

VA loans

This kind of loan was established by the US Department of Veteran Affairs to enable former members of the nationís armed forces to buy homes. You can also access this type of mortgage if youíre the spouse of a deceased veteran. Those who fit under this category can get a mortgage even without a down payment. 

Fixed-rate mortgage

If you want to buy a house to stay in for the long haul, a fixed-rate mortgage is a good idea. With this type of loan, the interest rate will remain fixed for the duration of the mortgage. If economists are projecting a rise in interest rates, you can cushion yourself from higher repayments with a fixed-rate mortgage. The predictability of this type of mortgage is ideal for planning since the payment consistency makes it easy to budget your paycheck. While this protects you if the interest index rises, you wonít benefit if there is a fall in the interest index. 

Adjustable rate mortgage

If youíre confident that interest rates will decline soon, this kind of mortgage will help you take advantage of that trend. Should the interest rate dip, you can expect your monthly repayments to reduce accordingly. 

Despite the name, the interest on the mortgage is usually not flexible for the duration of the loan. The loan starts with a period of fixed interest followed by a period where it becomes adjustable. Such an arrangement will work well for you if you intend to sell the house before the end of that initial period.

Find out the kind of loan you qualify for and see if you can push for better terms. Not sure where to apply? Ask your real estate agent about their recommended lenders.




Categories: Real estate   Mortgage   homebuyers  


Posted by Regarding Real Estate LLC on 6/13/2019

If you are planning to buy or sell a home soon, it is essential you know whether it is a buyerís or sellerís market. But how do you determine that? 

Buyerís Market

A buyerís market is a situation where the supply of houses is higher than its demand, giving buyers an edge over the sellers in price negotiation. It is equally a situation where the available homes for sale exceed the number of buyers looking to buy homes. If you are considering buying a new home, then a buyerís market is the right place to start as it is the perfect time to make that result-oriented moves. You might be able to buy a high-end property at a discounted price than you would buy in a sellerís market.

On the other hand, trying to sell your home on the buyerís market will make your property languish in the market for an extended period of time before you can get a buyer as a result of a large pool of available homes in the market. Too much supply will cause you to reduce the listing price or offer some discounts to secure a buyer.

Sellerís Market

A sellerís market is also a situation where the demand for houses is greater than the supply. This means that there are too many buyers looking to purchase homes which are less than the available homes on the market. Invariably, there would be many buyers chasing after a few houses, which causes rivalry or price war among bidders.

A sellerís market is a place to sell your property as you could get a selling price that is bigger than your listing price since more people are looking to buy homes. Better still, you could secure a sales price that is higher - that is the bottom line.

Here, the seller has all the advantages over you if you are buying a property in the sellerís market. If other buyers are interested in the property you are bidding to buy, you might not succeed getting it at a lower price. You could even lose the opportunity of purchasing the property if another bidder offers a premium.

As a result of this singular reason, sellerís market is sometimes referred to as renterís markets. Thus, prospective buyers will keep on renting until they save enough money that is larger than the down payment, then they can compete with other buyers in the market.

Different Markets, One Professional

Whether it is a sellerís or buyerís market, a local real estate agent can assist you by bringing a plan for securing the best transaction. If you are buying a property, they will know the right amount of money you have to offer in order to compete favorably with other home buyers. Likewise, if you are selling, they will know exactly what price to ask for.Working with a trusted agent - who will not push you to offer what you are not prepared to, or rush you into making a hasty decision - is the key to getting the best deal in any of these markets.





Posted by Regarding Real Estate LLC on 6/11/2019

Keeping a clean and reasonably organized kitchen is essential for those wanting to prepare food at home quickly. Finding your kitchen comfortable to work in and maintain will help keep you motivated to cook instead of caving to ordering in or going out to eat. It may seem simple, but many people just put things in different cupboards and don't consider how it might affect the flow of their kitchen and their ability to use the space efficiently. Here are some thoughtful ideas to consider when putting kitchen items away in your new home, or when you finally get around to reorganizing your kitchen space. 

Consider the location of your large appliances. You canít rearrange your refrigerator, stove, dishwasher or sink without a kitchen remodel. So, youíll need to design your kitchen organization around these main appliances that you use frequently. Inspect at the cupboard and drawer space in your kitchen and consider organizing as follows.

  • Prep: Put your cutting boards and knives near each other for easy access and consider keeping them near your sink or within close range of your kitchen trash for quick clean up.
  • Cooking: Place pots, pans, and bakeware in a cupboard near your stovetop and oven. Put hot pads, trivets, and utensils like spatulas and cooking spoons in a drawer near the stove or hang your tools on hooks by the stovetop.
  • Drinking: If possible put your coffee pot near your sink and fridge and place your glasses and mugs in a cupboard easily accessible by both.
  • Dining: For the most convenience see if you can place your plates, bowls and serving dishes near your table and also near your sink and dishwasher. This arrangement will help facilitate dining as well as simplify clean up. 
  • Miscellaneous Appliances: Take inventory of your appliances and be honest with yourself about which ones you use the most. If you bake all the time maybe your mixer needs to be out on the counter or in the front of a lower cupboard. If youíre really into juicing or making smoothies, consider keeping these appliances out or in a place you can easily access. If you rarely use your crockpot or fondue set and are truthfully unlikely to start anytime soon you donít need to have these items out crowding your space or taking up prime real estate at the front of your cupboards. 

Organizing dry foods can also be tricky depending on the size of your kitchen, but there are several ideas you can use to help yourself out.

  • Baking: Put all your baking materials in the same cupboard, on the same shelf if possible and keep these near your oven or your mixing equipment.
  • Beverages: Keep all your coffees and teas together and near your coffee pot and water kettle.
  • Pantry Goods: If you donít have a pantry, designate one cupboard to house goods that are shelf-stable for a long time. Place canned items, unopened sauces, rice and pasta in this cupboard, or on a particular shelf.
  • Daily Use: For items you use daily like bread, cereal and snacks find a quick access location in your kitchen. Maybe this is a cupboard right by your plates and bowls or by your fridge. 

Any kitchen, no matter the size can be organized to meet your daily needs. Take inventory of what you have and what you use to help you transform your kitchen into a functional space that works for you.




Categories: kitchen   organization tips  


Posted by Regarding Real Estate LLC on 6/10/2019

Few people can save up the cash required to buy a house. If you're contemplating buying your first house, your first stop will probably be your local bank to inquire about a mortgage. When you talk to the mortgage officer, they will ask you to provide several documents. 

Various documents will be required at different stages of the application process, from pre-qualification to the final closing of the real estate deal.

What you need for mortgage pre-qualification

Getting pre-qualified for a home loan allows you to gauge how much you are eligible to borrow based on your income. It will help you be more realistic when shopping for a home and frees your real estate agent to scan through listings with confidence. Homeowners or listing agents will give your offer priority if backed by a pre-qualification letter. It is comparable to the bank vouching for you, saying you have the power to make the purchase. In order to become pre-qualified, your bank will ask for:

- Your full names and the names any co-buyer

- Your current address

- Your net worth

- Sources of income

- The estimated annual income of your household

- The estimated yearly household debt expenses

What you need for mortgage pre-approval

Pre-qualification is optional, though it comes with several advantages and literally costs you nothing to do. Once you're through with that step, you can move on to the actual mortgage application. The first step of that is to apply for pre-approval by filling the full mortgage application form. Below are some of the critical bits of information you will need to supply for this:

- All of your checking and savings bank account statements for the past few months

- Asset statements for items you will use as security for the loan

- Your current residential address

- Address history over the past two years

- Addresses and names of your landlords over the past two years

- Paycheck stubs over the past few months

- W-2 or I-9 forms for each of the past two years from your employer

- Two years of tax returns if you're self-employed

After submitting this information, there will be a waiting period at the end of which your application will be approved or rejected. If their response is positive, you can begin the process of closing the deal.

Contact your local bank and find out what you need to do to get a loan.







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