Mortgages | Kristin Graziano Group

8 Things That Suddenly Change When You Become a Homeowner

November 30, 2020 By admin

Home ownership is a big part of the American Dream. It’s also a rite of passage, and millions of people go into their careers and family lives picturing the day when they can finally own a place of their own. When that day comes, it can be quite an experience. Signing the paperwork and getting the keys to your new place is one of the most exciting feelings in the world.

But it’s what comes after that can feel a bit strange. When you become a homeowner, you not only get to see your name on a deed, you also get to experience some of the things that only other owners get to experience.

Here are eight things that suddenly change when you become a homeowner:

1. You start having conversations about being a homeowner with other homeowners

“Yeah, we redid the kitchen first, but the bathrooms weren’t too bad. I’d like to add a deck but the nursery needs some attention next.”

2. All of a sudden you have to buy all the things every homeowner is required to have

You spend so much time at Home Depot buying tools and lawn equipment, people begin to think you work there…

3. You quickly learn how handy you are (or are not)

How’s the saying go? Is it “measure once, cut twice”, or “measure twice, cut once”?

4. You start to notice every little flaw around the house

I swear they said it was “smudge proof”…

5. You want to buy nice furniture, instead of cheaper, disposable stuff

Bye bye Ikea.

6. You begin to take special note of what’s happening in your neighborhood

Is that a “for sale” sign being put on the Jones’ lawn?!

7. You identify a favorite room

A place you could spend all day in if you could…

8. You’re proud to tell people that you just bought your own place

“Yes, I actually just bought a place. It’s near the park. No, on the far side, next to the baseball field. I really love the neighborhood so far.”

No matter how many of these things sound familiar, there’s no denying that becoming a homeowner changes things—and usually for the better!

Multiple Offers! Now What?

October 5, 2020 By admin

We have seen it time and time again – the first open house and the doors are steady with buyers! An hour goes by and the offers start arriving. It’s normal for Sellers to feel anxious and excited – and ready to accept an offer the moment it comes in! As your agents, we’ll go over each offer together and help you make the best possible decision. It’s more than top-dollar when reviewing offers. Whether you are entertaining two offers or 12 offers, the concept of how to decide is the same.

Together we will discuss each offer, and we’ll provide our professional guidance throughout the decision process.

Offer Strength – How close to the asking price? What is the amount down?
Financial Terms – What are their financing needs? Is it all cash?
Contingencies – Does the buyer need to sell their home first?
Closing Terms – Does it match your closing date desire?

Unique circumstances are bound to happen in every real estate transaction. We’re ready to advocate for you. We’re ready to work with the other agent on your behalf. We are ready to help you complete your home purchase or sale. Are you ready to take the next step?

To start your home search or learn your home’s value Give us a call and let’s get you going in the right direction!

Median Listing Price In The US Hits All-Time High

September 26, 2020 By admin

Most people want to list their home for the highest price possible when they sell their house. While a seller can always decide to list their house for as much as they want, ultimately, the market dictates how much it will actually fetch from a ready, willing, and able buyer.

Well, it looks like it’s a great time for any seller who wants to try and list their house for the highest price possible.

According to realtor.com’s August 2020 Monthly Housing Trends Report, the median listing price in the US increased 10.1 percent year-over-year in August. That’s a substantial increase from the 8.5 percent year-over-year growth seen in July—and the first time that listing prices have seen double-digit growth since 2017. And that 10.1 percent growth took the median listing price to $350,000—the highest on record.

The Takeaway:

So, what does this mean for you? With listing prices at an all-time high (and buyer demand at a high to go along with it), it’s an incredible market for sellers—so if you’ve been thinking about selling your home, now is a great time to make a move.

Buyer Demand Driving Up Listing Prices Across The Country

August 11, 2020 By admin

The current real estate market is an excellent example of the law of supply in demand. After a period of slowed activity due to COVID-19, buyers have emerged strong and ready to buy, but the lack of inventory is creating serious demand for properties—and driving up prices in the process.

According to realtor.com’s July Monthly Housing Trends report, the national median listing price in the United States is now $349,000. That’s an 8.5 percent increase year-over-year—and the highest listing price on record.

The Takeaway:

So, what does that mean for you? With listing prices at an all-time high, if you’re thinking about selling your home, now is the great time to make a move, take advantage of the buyer demand, and fetch top dollar for your property.

Saving with a Budget

April 4, 2020 By admin

Now more than ever people are looking to save money. Whether it’s to create a nest savings, purchase a home, new car, college or just to save some dough. We collected some helpful information and included a free printable budget worksheet to help you find your way in the savings game.

Ways to get started with a budget:

Look at your spending – you have to know what you spend money on and how much in order to figure out what in your spending is NEEDED and WANTS you have in your budget. Sometimes wants don’t have a place in a budget until you have established a stable savings.
Budget what you will spend – once you know where your money is going, you can give allowances to certain things that like in the first step are NEEDS vs. WANTS.
Create savings goals – be realistic, if you can afford to save $20 a week, then it’s $20 a week. If you can do $5 do $5. Every little bit will add up over time, this is important step – paying yourself first means you are paying your savings something so the financial burdens are less of financial burdens in the future. A little can go a long way and it takes time to build up a solid savings.
Write it down – use a budget worksheet like this one from Savings Dollars & Sense or a spreadsheet of your own to track and hold your spending accountable. Update it often and stay focused with your eye on the prize. Whether you want to save $1,000, or $100 you need a plan.

Frequently Asked Questions When Considering Buying a Home

December 1, 2019 By admin

Woman accountant or bank worker uses calculator in the office to calculate house loan credit bureaucracy.

There are many unique factors when you make a decision to purchase a new home. It all is unique to you and we are here to help guide you in the process. Never hesitate to call us and talk us through your plan we may be able to help and share resources and when you know it’s time, you will know it’s time. Check out some frequently asked questions from previous clients.

1. Should I buy instead of rent?

The benefits of buying a house rather than renting can be:

Tax breaks
Financial gains
Appreciation in value
Equity
Freedom
Security
A sense of pride

2. Am I ready to buy?

Ask yourself the following questions when considering whether you’re ready to buy:

Do I have a steady job?
Have I been steadily employed for the last two to three years?
Is my current income reliable for the foreseeable future?
Do I have a positive bill-paying history?
Do I have few outstanding long-term debts, like car payments?
Have I saved for a down payment?
Can I afford to pay a mortgage, taxes, utilities, and insurance?

3. Does my credit score impact my ability to buy?

A credit score numerically summarizes an individual’s credit history and gives a snapshot of their financial standing to a lender. Mortgage lenders use the score to decide who receives loans and at what interest rate. The higher the score means the better the chance of getting a loan with an attractive interest rate.

If your score is low, it is not impossible to get a loan but it will take longer. These three different companies keep credit histories: Equifax, TransUnion, and Experian. Before applying for a loan, get reports from all three companies. Fix any errors you might see in order to improve your score and put your best foot forward with lenders.

4. How much do I need for a down payment?

This all depends on the home you are buying, if you have a home to sell and a few other factors that are unique to your situation. Lenders expect between 5% to 20% for a down payment. It varies depending on the loan type, and length of the loan. Make a budget, set a goal, and stick with the plan. Saving and sacrificing is how most people come up with their first down payment.

5. What are the homeowner’s tax benefits?

Typical deductions are mortgage interest and real estate taxes.
In most cases, loan discount points and origination fees are deductible.
Read Publication 530 titled Tax Information for Homeowners found on the IRS website.
There are capital gains benefits, but don’t worry about that until you buy your first home.

6. What is the difference between pre-qualified and pre-approved?

Pre-qualification: Getting pre-qualified for a mortgage gives first-time homebuyers an indication of how much they “might” qualify to borrow. This mortgage amount is not guaranteed because no information has yet been verified. A letter from the lender may only state that you are “likely” to be approved for a mortgage.

Pre-approved: Better yet is getting pre-approved for a mortgage, which is based on a real credit score, and it also puts real estate agents and home sellers at ease. The buyer has more to offer when making a deal and in a competitive market this can be a definite plus.

7. How do I get the best mortgage?

It is time consuming to learn about the various rates and terms of mortgages. Once you find your dream home, there is not always adequate enough time to do your research. So do your homework prior to searching. We work have a network of lenders that have different options depending on your situation.

Call us at (480) 229-6569 anytime to discuss your needs.