What do home buyers want in a new home?
According to AVID Ratings Co., some of the must-have amenities in a new house are home offices and green features.
Home buyers are willing to give up devoted space to home theaters and other specialized media rooms in order to have a home office. In fact, they’d be willing to forego a formal dining room altogether in order to have a home office or study.
And they want energy-efficiency in their appliances, windows and insulation.
Other desirable features are large kitchens with an island, though granite countertops aren’t necessarily important to all buyers.
Written By: Diana Lundin. If you would like to continue reading, click here.
When you’re buying a house, there are a lot of unknowns—and once you’ve bought a home, you’re committed, usually for years. Contingencies clauses in your home purchase contract might help take away some of the uncertainty of buying a home by detailing conditions that must be met before closing will take place.
How mortgage contingencies protect buyers
One very common contingency is a mortgage contingency. A mortgage contingency gives buyers added security during the home-buying process; it states that a buyer will try to get a particular kind of mortgage (traditional, Veterans Affairs or Federal Housing Administration) at or below a certain interest rate for a set amount of the purchase price (generally 80 percent) by a specific date before closing.
If the buyer is unable to secure a loan at the stated terms, he can back out of the contract, and the earnest money deposit returns to him.
Written By: Tasha Schroeder. If you would like to continue reading, click here.
The spring and summer months are traditionally the busiest times of year for the residential real estate market. Weather is more cooperative and many families like to move while the kids are on their summer break.
But in recent years spring, for many regions, has meant more homes on the market, but also more buyers, fierce competition and an increase in prices.
Written By: Michele Dawson. If you would like to continue reading, click here.
Buyers are finally being able to take advantage of cooling trends in previously hot markets. Multiple offers are no longer being thrown at sellers as soon as the For Sale sign hits the front yard.
Competition has dwindled in many areas as investors disappear and buyers take to the sidelines. Unless a buyer thinks his local market is headed for a big downturn, this could be the pause that allows him to get into the market with a few perks unheard of in recent years as a bonus.
Written By: Rick Hazeltine. If you would like to continue reading, click here.