Selling a home | Lauras Choice

It’s a Seller’s Market – But great options are still available for savvy buyers!

May 2, 2017 by Laura Kubicki Leave a Comment

Now’s the perfect to sell…and buyers…my best advice? Hurry!

Here in the Triad, Spring is in full swing! Inventories are extremely low creating obvious shortages in some price points and locations.

In fact, the last two properties I listed in March were under contract in just two and four days at asking price – with multiple offers!

Now that’s really moving!

Folks are combing the property search tools just waiting for new listings to hit. Many people are set up to get automatic texts or emails when a new property with their search criteria pops up. So, if you’re thinking about selling a property, now would be an excellent time! Contact me and we’ll get it listed and announced to the world – fast!

Now, with all this market enthusiasm for sellers…what makes this a good time for buyers, you ask???

Great question! There are several reasons you may want to consider hurrying into the market if you’re ready to buy a home. Interest rates are slowing starting to rise – but they are still quite low! The Fed’s increase in interest rates, (up a quarter of a percent in March), drove the average 30-year fixed mortgage rate to about 4.21% vs. 3.68% a year ago, according to money.cnn.com.

And, while the interest rates dipped slightly again, the current forecast seems to suggest the Central Bank is expected to raise rates a total of three times this year – which could drive mortgage interest rates to around 5%. That’s still VERY LOW, but why not avoid paying any more in interest, if you’re looking to buy now?

Inventory is low, but more is being added now due to the arrival of Spring. Sellers know this is the time a lot of property sells, and they’re working hard to get more choices on the market for you. Savvy buyers benefit from that type of momentum!
The weather is beautiful…making it all the easier to search for and get settled into your new dream home!
It’s not too hot, and not too cold, the days are longer, and you can perhaps avoid the busy summer travel season so you can have your new home and your vacation too!

Happy Spring Friends!

Do You Know How CMAs and Appraisals Differ?

November 4, 2016 by Laura Kubicki Leave a Comment

Hi Friends.

So, do you know how CMAs and home appraisals differ? If you don’t keep reading!

Establishing a home’s market sales price is equally important to buyers, sellers, lenders and real estate professionals. To help transactions proceed quickly and efficiently, sales professionals and appraisers both utilize information from the local Multiple Listing Service (MLS).

The MLS is a professional member-based cooperative that contains a wealth of information including active listings, homes that have recently sold, tax roll data, historical data, and market trends such as how quickly homes are selling and how close they sell to the original listing prices. It’s what I use daily to keep up-to-the-minute current on what’s happening in the Triad area market.

Using this data, I prepare a comparative market analysis (CMA) report to help my sellers choose a listing price for their homes and to help my buyers make competitive offers. The CMA is a consumer-facing report that includes recently sold homes and homes for sale that are most similar to the seller’s home in location, appearance, features, and general price range. It gives sellers a good indication of what the market will pay for their particular home, helping to take some of the emotion out of the pricing process, resulting in a ‘right price’ for their property, which often times leads to quicker and more favorable sales – and sometimes multiple offers!

Buyers and I use this data to assess sellers pricing on homes they like, versus other similar homes in the current market to determine if the seller’s price is fair, a great deal, or too high. This information is useful in determining the correct offer for a buyer to start with and can help shorten the negotiation process in some cases, benefiting both parties!

Now, on to bank appraisals.

If the buyer is requesting financing through a bank (mortage), the bank will order an appraisal, using the same MLS data, but with some differences. A bank appraisal is performed by a licensed appraiser to determine market value. Comparable homes similar to those in a CMA are used to compare physical features, property tax records and recent solds to determine whether values are trending up or down. This gives the bank (lender) an idea of the property’s value and determines the threshold price for approving a mortgage. If a property doesn’t appraise to the price that it is listed for, a lender is less likely to approve a loan amount necessary for a buyer to buy, making it a lot harder to sell your home.

In short, the CMA introduces consumers to the ever-changing marketplace of homes for sale and those properties that have recently sold to help them formulate right pricing and offer strategies. The appraisal determines market value for the bank so that the bank doesn’t lend too much money on a single property. Together, CMAs and appraisals help consumers more efficiently buy and sell their homes.

Hope you find this information helpful! As always, I’d love to help you with any questions or clarifications! Thanks for stopping by today – please come back soon!

And remember to subscribe to Laura’s Choice, if you haven’t already before you click away!

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Fall Is In The Air!

September 1, 2016 by Laura Kubicki Leave a Comment

Our House

STILL A GREAT TIME TO SELL – OR TO BUY!

Here’s why.

FALL LAURA

In the Triad, home inventories remain historically low – down 25% from this time last year! That means, if you’re wanting to put your home up for sale, buyers out there would love the chance to see it (perhaps jazzed up a bit with some fun fall decor?) and make an offer!

And for folks looking to buy, there’s good news for you too – interest rates are still low! Not to mention cooler temperatures and fall’s beautiful color are heading our way, making it such an enjoyable time of year to look for your new home.

So if you’re ready to go, so am I! Give me a call or text at 336-413-9197 or click here to get started.

And if not…please keep me in mind for any friends or family who may be “on the move”! I’d love to help them too!

Thank you!

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203k Mortgages – Great Financial Tool When Buying A Home To Renovate!

July 14, 2016 by Laura Kubicki Leave a Comment

This is not Jason...:o) — This is not Jason…:o)

Hi Friends! Are you thinking of buying a property to renovate into your dream home? If so, this may be of interest to you!

Consumers often find ample value in what I’ll call distressed homes – properties that are under a foreclosure order or up for short sale. In many cases, “distressed” speaks more to the condition of the home than their recent financial histories. They may have been empty for extended periods and/or subject to vandalism and theft. But they can be a great way to get a fantastic property for a good price, while delivering you the opportunity to create your own unique dream home…think “Fixer Upper” on HGTV!

If you are considering a home in need of renovation, you should consider a 203k mortgage. It would allow you to finance both the acquisition and rehabilitation with a single loan. NICE!

There are two types of 203k loans:

203k Streamline: This is the most popular. The maximum allowable in repairs is $35,000 and does not allow any structural repairs to be done to the home (unless they’re a result of an unforeseen circumstance).

Full 203k: Allows for structural repairs and can exceed the $35,000 in home repairs. Both types allow up to $1,500 in swimming pool repairs.

Here are some other key 203k facts you’ll want to know:

Since it is based on the home’s potential value after repairs (not its existing value), you can be approved for a higher loan amount.
They carry long-term-fixed rates.
They’re insured as soon as they fund.
They include escrow accounts for the scheduled repairs.
Loan amounts are capped according to local FHA limits.
Only owner-occupied properties of one to four units qualify.
The home must be at least one year old.

You can click here for more information on 203k mortgages. Hope you find this information useful! Don’t forget to like me at Laura Kubicki Realty on Facebook too for even more great real estate information and ideas. I’m always just a couple clicks away!

Happy house hunting!

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