Tuesday, November 14, 2017 / by Brittini Martinez
For the past few years, sellers have had all the power in the local real estate market. Today’s buyers and sellers are accustomed to a market marked by rapidly increasing prices, low inventory, fast offers and bidding wars. But real estate is cyclical and a perpetual seller’s market can’t last forever.
In terms of supply and demand, it’s still very much a seller’s market. But we’re seeing some small signals that the market may be shifting back — just a little — toward buyers.
First, let’s analyze the regional data. Across the Washington area, the number of homes for sale has fallen year over year for 18 months straight. The region had about 2.6 months of supply in September, well below the six months that represents a market balanced between buyers and sellers. Homes are still moving quickly, with the typical property finding a buyer in 27 days, six days faster than last September.
Economics tells us that fewer homes for sal ...
Monday, November 13, 2017 / by Brittini Martinez
When you go through the process of buying a house, you might have to change the real estate closing date. It's actually fairly common for the buyer or the seller to request this kind of adjustment, so don't be alarmed if it happens to you. Let's take a closer look at the closing process and why someone would want to reschedule a closing date in the first place.
What is closing on a home?
Closing represents the scheduled day, after a seller accepts a buyer's offer, when the parties meet and sign the final paperwork. The whole process from accepted offer to closing typically takes an average of 50 days. During that time, attorneys draw up contracts, and dozens of other parties—from title agents to mortgage lenders—finish completing the transfer of a property.
Why change a real estate closing date?
But sometimes the buyer or seller wants to speed up or slow down the process, and that requires changing the clo ...
Monday, November 13, 2017 / by Brittini Martinez
When buyers see your townhouse for sale, they might not be aware of everything they're buying into. For starters, townhouse owners typically enjoy the benefit of having more freedom over making changes to their domain than, say, condo owners or apartment renters. Townhome communities can also win out in terms of the common facilities—like a shared pool or gym—that they offer. So it makes sense that townhouses have recently become the latest "it" property.
Therefore, if you're planning on selling your townhouse, you should be privy to the best ways to market it, the timeline you might have to follow, and what needs to happen after you accept an offer.
What is a townhouse?
A townhouse is a single-family dwelling with at least two floors as opposed to condominiums that are typically designed like single-level apartments. Townhouses usually share a wall with another house, but unlike a duplex, each townhouse is ...
Monday, November 6, 2017 / by Brittini Martinez
Congratulations, you just ratified the contract on your future home! Now you are getting a call from your agent stating that you need to let them know the best day to have the home inspection within your deadline... WHAT??
Do I even NEED to be there? I have no clue what to look for!!
Not to fear.... we can help!
What is a home inspection?A home inspection is an objective visual examination of the physical structure and systems of a house, from the roof to the foundation.
What does a home inspection include?
The standard home inspector’s report will cover the condition of the home’s heating system; central air conditioning system (temperature permitting); interior plumbing and electrical systems; the roof, attic and visible insulation; walls, ceilings, floors, windows and doors; the foundation, basement and structural components.
The American Society of Home Inspectors (ASHI) publishes a Standards of Practice and Code of E ...
Monday, October 30, 2017 / by Brittini Martinez
You're in the process of purchasing your dream home and your realtor asks you if you have ordered your homeowner's insurance. "Wait a minute..." you think (or say). "I thought we did not ask for a homeowners insurance when we negotiated our contract?"
If this was (is) you when you purchased your home, you may have been confusing your home WARRANTY with your home INSURANCE. Your next thought or answer may have been that you don't think you need either. Read more below to not only understand the difference between the two but to also see how both can be a huge help to your home!
It is more and more common for people to be offered home warranty coverage when they buy a new home. Although both home warranties and home insurance can provide you with coverage when an emergency comes up, the two are very different.
Your home insurance policy is not a home warranty. Whether you are a first time home buyer, moving into your second or third home, a new condo or even you ...