Moving out of mom and dad's house or decided to move out of your rental? Or, maybe you have not bought a home in 10 years or more and you are out of the loop in home-buying. Here are 5 tips that Realtor.com suggests and I tend to agree. This of course comes along with my own zany touches and experiences. http://www.realtor.com/advice/buy/what-every-first-time-home-buyer-needs-to-know/?is_wp_site=11. Figure out how much you can afford. This is why pre-approval is so important. Before you even think about buying a home or start your search I urge you to speak to a lender (Lucey Mortgage is a great lender based right here in Charleston and does a great job. Click on the link for more information - http://www.luceymortgage.net/home.html) Experts (whoever that may be) say your house payment should not exceed 28% of your gross income. For example if you make $4,000/month take that and multiply by 0.28. Your monthly payment should not exceed $1,120/month. Always let your lender tell you what you can afford and don't exceed that.
2. Pick the right real estate agent. That's an easy one - Pick me, Jason Gregg. I explain the process of home purchasing thoroughly from our very first meeting and explain to you what to expect. There's a lot of steps to buying a home and you need someone with experience and local knowledge to make sure you get to the closing table and you get the best deal.
3. Understand there is no such thing as a perfect home. This one drives me mad sometimes! I see buyer's walk into 30 year old homes and expect it to be new construction (which is never perfect either). I blame the buyer's agents for not clearly explaining clear expectations to their clients. I just emailed a buyer's agent yesterday and I told her if your client wanted new construction he should have bought it - we are not going to make a 15 year old home brand new. Let the price, location and size drive your decisions...not the color of the carpet or the condition of the garage.
4. Do your homework. This one can be quite extensive but a good agent will do all the stressful work for you. See number 2 and choose Jason Gregg as your Realtor. There is a lot that can go wrong in a real estate transaction and it all starts with the contract. A good agent will build in contingencies to the contract that will allow the buyer to walk away if the deal is not going in their favor. Some of these contingencies are financing, home inspection, CL100, buyer contingency that they have to sell their home first, appraisal and more. Here in SC we have the option of a Repair Procedure or Due Diligence (most agents don't even realize there is a difference but it's a big one). This is too long and complicated for this blog but I'll explain it in a future post.)
There you have it folks.
Looking to buy or sell a home. Call me at
843.696.8627 or email me at Jason.Gregg@kw.com
-Jason
I get asked this a lot as a local Realtor here in the Tri-County and especially of those transplants from the Northeast (which I am one of). Just a side note - how long must one live here before the term Transplant is no longer used? I've been here 10 years - is that long enough? OK -back on track! When I get asked rent or own my initial question is the same, "What is your long term goal." Even despite my loss of a pay check there are times I recommend renting because it's better for the client. So, what are some of the reasons to rent and not own?
As a Realtor I have the luxury of making my office pretty much wherever I want it to be and yesterday I chose Cuppa Manna. It had been a long time since I had passed through these doors as it was formerly Single Smile Cafe and Single Smile was not my cup of Joe (no pun intended - yes it was). I always felt crowded in there because I felt I was surrounded by stuff everywhere. I also felt like I was walking into a flea market but not at Cuppa Manna. According to the website it was bought in August 2015 by Mike and Janice Taylor. It's obvious the new owners have a different vision yet kept the cozy atmosphere of a local coffee shop with good coffee. Cuppa Manna is very different now it's a big improvement. While I was there I decided to branch out from my normal cup of plain coffee and enjoy a Tiramisu Latte - I was not disappointed. The coffee was good and the staff was very friendly. I was able to walk around the shop without bumping into tea storage containers or feel the fear of knocking something off the wall or breaking china sets. I also appreciated the fact that the tables had large electrical strips allowing me to easily plug in my computer. My only complaint was that at times the staff was loud and when I was on the phone it was difficult to hear and stay focused. Other than that I recommend giving it a shot. I know I'll be back with computer in hand and hopefully listing another house.
Everyone says we have a "strong market" here in Summerville, SC but can your realtor explain what that means? On a side note, if you don't have a Realtor but need one please call me at 843.696.8627 so I can offer you my services. We are in a strong market but I, many may argue, believe we are in a shift and that shift will start in January 2017 (if not a little sooner). I don't see a drastic drop in the market like in the past but a gradual decline (some may not even notice it but it'll be there). Make sure you hire a Realtor that knows the market. Would you hire a surgeon that could not describe physiology? I would hope not!