There are a lot of real estate terms out there. The good thing is: you don’t need to know them all! There are a few important terms, however, that every homeowner or potential homeowner should understand. Here, I will break down some of the most essential real estate terms.
Appraisal and appraisal fee:
The appraisal fee is a one-time fee that’s paid for the lender’s appraisal of the property. The home needs to appraise at the price the home is being listed at, in order for the bank to finance the loan.
Fixed rate vs. adjustable rate:
When you take out a loan on a property, a fixed rate mortgage will give you a mortgage rate that is set right when you take out the loan. Fixed rate mortgages won’t change. Adjustable rates, otherwise known as ARMs, generally start out at lower interest rates, but they can rise – the rates can go up and down throughout the life of the loan.
Your loan amount is the total purchase price, minus the down payment amount that you choose to put down. The loan amount can be spread out over 15, 20, or 30 years.
PMI, otherwise known as Private Mortgage Insurance, is insurance for the lender to help cover potential losses if the borrower stops making payments on the loan. It’s usually required when your down payment is less than 20% of the purchase price of the home.
Ready to get your real estate journey started? Contact me to start a conversation about what it takes to purchase or sell a home. I’ve been helping clients of all kinds for more than two decades. As a Realtor®, I can help you start the process, help answer questions on any terms that you need clarification on and can provide helpful tips along the way. I am glad to help you with the information you need to start your adventure.
When it comes to buying a home, finding one in the right neighborhood is one of the most important considerations to keep in mind. Living in the area you want, in the home you want is the recipe for being a satisfied home buyer, giving you what it takes to live there for many years to come. Here are three main factors that make a great neighborhood.
Even for people that do not have kids in the school system, it’s important to know what your neighborhood schools are like. Quality schools ensure that good families want to move to that specific area, which will help increase the value of your property. Southwest Washington public schools are among some of the best in the state. Each school district employs high-ranking, award winning teachers, administrators, and support staff. Our primary districts are:
- Vancouver School District
- Battle Ground School District
- Camas School District
- Washougal School District
- Evergreen School District
- Ridgefield School District
- La Center School District
Whether you’re a city person or someone who wants to be surrounded by forested areas in the country, making sure your home is accessible to the things you want is key. Research what places are nearby for public transportation, grocery stores, restaurants, activities, or hospitals. Consider what parks and other green spaces are around and factor in how long you will need to commute to work in your new neighborhood. If you telecommute, be sure you know how you’ll get that done in your new location. All of these are important questions to figure out answers to, so you can be sure you’re spending time at home rather than in your car traveling a long way to the places you need to be.
#3: Pride in ownership.
When you find a neighborhood that demonstrates pride in ownership, it’s obvious. Residents that keep their homes and yards maintained well will generally also value in the neighborhood and the neighbors they meet. A great neighborhood has neighbors that look out for each other, bringing them together for the betterment of the neighborhood as a whole.
If you want to explore the option of buying a home, contact me. I’ve been helping customers of all kinds for more than two decades. As a Realtor®, I can help you start the process and can provide tips along the way. I am glad to help you with the information you need to start your adventure.
When it comes to selling your house, first impressions really matter. If you are spending time to ensure the inside of your home is in pristine condition, you should also put some time and effort into making your yard look great too. After some hard work in the yard, your efforts can pay off. But what to-dos will reap the most reward? Here are some yard staging projects that can help sell your house.
#1: Lawn clean-up.
Imagine driving up to a home that you’re thinking about buying and seeing that the lawn is overgrown and full of weeds. Not the greatest first impression, is it? If you have grass in your yard, potential buyers will notice how it’s taken care of. Be sure to keep it cut short and invest in having a landscape team professionally edge it.
#2: Goodbye, clutter.
The outside of your home should look as clean and tidy as possible. Stash kids toys and bikes in the garage or in a shed, get rid of any personal belongings that are out front, and move your garbage cans and other recycling products to the side of the home or to the back where it’s not as visible. Don’t forget that the porch or front doorway entry is where the realtor and potential buyers will be standing when they are getting the key from the lockbox, so the area should be clean and welcoming.
#3: Hello, color.
Head over to your local garden center and stock up on flowers to brighten up your yard, as well as your walkways. Use large pots and other hanging baskets for added color around your front doorway, porch, or patio. New bark dust can also freshen the space and help reduce weed growth. A little bit of color goes a long way and if you invest in perennial flowers, the new owners will be able to enjoy the beauty in future years.
Remember that your yard is part of the overall ambiance of your home. When prospective buyers see your home, think about what memorable impression you want them to have. The better the home shows, the better chance you have to sell your home with ease.
Ready to talk through listing your home this fall? I have more than two decades of experience as a Realtor® and can help you start the process and can provide tips on the whole process, including what you should do to get your interior and exterior ready. I love working with people around Clark County and am glad to help you with the information you need to start your adventure.
If you are considering stepping into the housing market to purchase a home, chances are, you are doing some research on mortgage rates and what it takes to obtain a home loan. Figuring out what the mortgage rates are right now and figuring out how you can get the lowest rate possible is an important part of the home purchasing process. There are several things that determine what your mortgage rate is and your credit score is one of the primary things that lenders will look for before they loan you money.
What is a FICO credit score?
This is a credit score that is determined by FICO, a company specializing in predictive analytics, which is used to analyze and predict future happenings. For credit scores, the company uses a variety of credit information to develop scores that will help lenders predict consumer behavior, including how likely it is for the person to pay bills on time and if they are able to handle a large mortgage or credit line. Your credit score is based on several factors including your payment history for all accounts, the amount of debt you currently have, how long you’ve been using credit, and what types of credit you use.
There are several minimum requirements to receive a credit score, including at least one credit account opened for at least six months. If you have a poor credit score, there are several things you can do to help improve it. First, bring active past due accounts current and keep on top of paying things on time. Keep credit card balances as low as possible and limit your applications for new revolving debt such as credit cards. (1)
Can you get a mortgage with a low credit score?
You can generally obtain a mortgage if your credit score is poor, but keep in mind that you may not get the lowest rate available. However, if your score is below 580, it may be difficult to get a loan approved. The higher credit score you have, the more likely you are to get a lower mortgage rate. Raising your credit score even by 20 points or so can really help in getting a better rate. For some people it’s best to wait to buy a home and improve your score and work on financial planning before you apply for a home loan.
A home purchase is one of the biggest investments you’ll ever make in your lifetime. Maintaining good credit, paying your bills on time and managing your overall finances with responsibility are all important things to have figured out before you take on a large home loan.
When you’re ready to take the leap to home ownership, I have more than two decades of experience as a Realtor® and can help you start the process of looking for a new home and can provide tips on the whole process. I love working with people around Clark County and am glad to help you with the information you need to start your adventure.
- American Reporting Company. FICO Source Overview. Accessed via Lynn Posselt, Penrith Home Loans, NMLS#41393.
There’s nothing better than a beautiful Pacific Northwest summer. The days are longer, the sun is out, and people are outside enjoying the beautiful scenery that we have near us. Potential home buyers are also out and about looking at homes for sale, which makes it a great time to list and sell your home. Wondering how to get your house ready to sell this summer and what you need to do? Here are some helpful tips that will help sell your house and help it stand out from the competition.
#1: Update, update, update.
How old is your roof? What about your HVAC system, water heater, or your various kitchen appliances? If major household items are old, inefficient, or need repair, a savvy buyer will recognize this. For example, if your roof is more than 20 years old, chances are, it will need a replacement. It’s better to get that updated before the house goes on the market, so you won’t have to worry about it during the inspection and negotiation process.
#2: Get rid of clutter.
Cluttered homes often make the space look and feel smaller to potential buyers. Start going through your home room by room and either boxing up or getting rid of unnecessary items that are cluttering the space. Designate piles for selling at a garage sale or online and a pile for garbage or donation. The bigger and more open you can make your home feel, the better! This allows people to envision their own belongings in the space and helps them see the overall functionality of each room.
#3: Fix, fix, fix.
Are there any leaky faucets, cracks in the walls, broken handles or doorknobs, or any other small areas of damage that need to be fixed? Fix them before the home goes on the market. Anything that doesn’t work perfectly should be repaired to the best of your ability – that goes for both the interior and exterior of the home.
If you’re not sure where to begin, I’m happy to walk through your home and provide some tips on what you should do first. Once you’re ready to sell your house this summer, contact me! I have more than two decades of experience as a Realtor® and can help! I love working with buyers and sellers around Clark County and am glad to help you with the information you need to start your adventure in either buying or selling a home.
Considering buying or selling a home? Real estate transactions are very detailed and sometimes stressful. Each buying and selling experience is unique and working with a qualified and experienced Realtor® can help make the process go smoother, which means it will be less nerve-wracking for you! Here are some ways that working with a real estate broker will make your life easier.
#1: They can help save you money.
Working with an experienced real estate broker can help you save money because they are experienced in the negotiating process and can help you look for any potential snares or issues during the transaction that could cost you big bucks.
#2: They can help with your perspective.
Not sure what you want in your next home? Or, maybe you think you know what you want. Perhaps you know exactly what you want to get out of the home selling process, but you haven’t thought about what comes next. After listening well, your Realtor® should be able to offer a unique perspective into your specific situation and help you think of things that you might not have initially considered.
#3: They’ll go the extra mile.
The buying and selling process is a big job in and of itself, but a great Realtor® will go the extra mile for you and recommend contractors, offer tips on redesign or remodeling that could help increase the value of the home, and will help answer questions that come up along the way. A quality Realtor® will be happy to share their information and wealth of knowledge with clients to help ease any anxiety that may be there.
#4: They’ll save you time.
One of the best parts of working with a qualified real estate broker is the amount of time they’ll save you. They will prepare papers for you, do all the marketing for your property, and help prepare you for any anticipated issues that could arise. A great Realtor® is a problem solver and this translates to less stress and less wasted time for you!
#5: They become someone you can count on.
The real estate transaction process can get complicated and when it does, a good Realtor® is someone that will go to bat for you when it’s needed. You should be able to depend on them when it gets hard – whether it’s negotiating, explaining all the lingo when you don’t understand it, or working through inspection obstacles, a great Realtor® will have your back, no matter what!
I’ve been proud to work with clients of all kinds throughout my two decades of experience as a Realtor®. I love meeting and working with people to help them buy or sell a home in Clark County. Contact me today for information on what it will take to start your adventure in buying or selling a house.
Wintertime in the Pacific Northwest is often cold and wet, but this year, we’ve had a comparatively mild winter and many folks are considering heading outside to explore the area they live in. Winter retreats or getaways are a great way to get away from the hustle and bustle of regular life and get caught up on some necessary rest and relaxation. Here are some of my go-to places in the Pacific Northwest that help me recharge!
This area has beautiful views of the water and lots of fun things to do. It’s full of amazing hiking and walking trails that offer breathtaking views of the Columbia River Gorge. There are also several wineries and vineyards that are fun to explore, as well as some great dining spots. There are a variety of vacation rental homes available or stay at one of the several in-town hotels, such as the historic Hood River Hotel. No matter what you do here, you’ll be surrounded by quintessential Pacific Northwest stunning scenery.
This is another great place to unwind. It’s only a short drive from Clark County and the lodge is surrounded by forest greenery and overlooks the Columbia River Gorge. The lodge is known for their outstanding weekend brunch – it’s one that you won’t want to miss! Many of the rooms have fireplaces, so if a book and a cozy blanket by the fire sounds nice for your retreat, you’re in luck. Or, venture out to one of the nearby walking trails or take a short drive to Multnomah Falls to walk around.
If escaping to the ocean is one of the ways you can best relax, you’re in luck with many different beach options. Rockaway Beach, Long Beach, Ocean Shores, Seaside, or Cannon Beach are all great options when it comes to a winter retreat. Wintertime at the beach can sometimes be rainy and stormy, but the smell of the ocean air is invigorating, no matter what. Stay inside and read or watch some of your favorite movies if the weather is stormy, and when the weather settles down for a bit, head out for a beach walk and some famous coast clam chowder.
Of course, if you need a retreat but your budget doesn’t allow for any overnight getaways, there are great ways to relax in the comfort of your own home. Unplug your laptop and your phone for a day or two and recharge without any electronics. Focus on doing some things that you love doing locally, even if it’s just sitting at home with your favorite warm beverage and catching up on reading your newspaper or watching some of your favorite shows.
No matter how you decide to take a break from the stresses of every day life, setting time aside for yourself to recharge is important and a winter retreat will do great things for your soul, body, and mind!
The holidays are a very busy time of year for most people, but before you know it, decorations will be put away and 2018 will be in full swing. If you’re planning to be a buyer in the new year, it’s helpful to start reading now on how to make an attractive offer to a seller in a competitive real estate market. Here are some tips that can help you make the best offer.
Tip #1: Know what you can afford.
How much do you owe in debt? What are the ins and outs of your monthly expenditures? Understanding your finances should be the first step in your home searching process, then getting a pre-approval letter from a lender will help you know what you can afford. In addition, this letter will show sellers that you’re serious about buying a home and you can put your offer in with the confidence, knowing that you can afford the monthly payment.
Tip #2: Create a stand-out offer.
When you find the home of your dreams, be ready to make a great offer right off the bat. Your agent will help you figure out what offer is the best one and will take into consideration other home sales in the area, as well as the condition of the home, and what your overall budget is.
Tip #3: Be ready to act quickly and possibly negotiate.
The Clark County real estate market is still hot, meaning that inventory is low and buyer demand is high. Because of this, buyers many times need to compete to get the home that they want. This is where working with a real estate agent is incredibly valuable. Your Realtor® will work with you on creating a great offer and will present it to the seller as soon as possible. If it’s a situation where there are multiple offers, then your agent will walk you through the process of counter-offers, if needed. The bottom line: when you find a home you love, you must be ready to act fast before it’s gone and have patience with the process, because sometimes it will take some negotiation to get your offer accepted.
Buying a home is very exciting and 2018 will be a great year to get out there and find a home that checks all the boxes on your wish list. Contact me when you’re ready to get the ball rolling on house searching so we can create a great offer that gets accepted. In the meantime, my hope is that you have a happy holiday season that’s full of things that are warm, fun, and fulfilling.
If you’re thinking about selling your home, you have a lot of different factors to consider. You’re thinking about where you’ll move and what it will cost, and finding a qualified Realtor is one of the biggest decisions. If one of your questions involves finding out more information regarding reduced commission versus full rate services, here I’ll cover what the three basic levels of fees and services include.
#1: Very Discounted Services: This will include access to the MLS only. The seller will input all information and will set the buyer’s agent fee. The seller pays for marketing and will negotiate elements of the contract. This can work for some situations, but being an unrepresented seller in today’s complex market can be risky and oftentimes results in a lower net price. Most buyers will have representation, so the fee you save is really only half of the full real estate fee.
#2: Cut-rate fees: This will again only save half of the real estate fee, as buyers are usually represented by an agent. With full service representation, you usually get more experienced and knowledgeable agents to work with you. This is the “secret sauce” that can save you big time in the end – especially in the areas of price negotiation, inspection negotiation, and other timing issues that can derail the overall transaction.
#3: Full-service: When using a full-service Realtor, you’ll get a fully developed and proven marketing plan. The Realtor will additionally help you develop a pricing strategy that will help get your home sold in a timely way. You’ll work together to address issues upfront that could cause a buyer to pass by your home. The key here is knowledge, knowledge, knowledge! An experienced Realtor has been part of numerous, varied transactions that can help benefit you throughout the process so you can get the best price for your home with the quickest closing date and the least hassle.
If you have decided that it’s time to make the jump to sell your home, now is a great time to do that. The information around fees can be a complex topic to consider, so if you have additional questions, I am happy to sit down and talk with you about what could work for you and your specific situation.
Buying or selling a home is a one-of-a-kind adventure that is often filled with many unexpected twists and turns. Why hire a Realtor when you could figure out how to do the job yourself? An experienced real estate broker can serve as an invaluable resource. Here’s are some tips on how to select a Realtor and what it can mean for you.
#1: Figure out how they work.
Working with a Realtor that knows you and your specific needs is key. For example, do they sit down and get to know what you’re looking for, such as schools, land, house features, or neighborhoods? This should be a personalized process that’s based on understanding and trust. Realtors offer a constructive and positive attitude during times that you may feel overwhelmed. You’re never left to figure things out on your own. And while you might want to do some leg work during the buying or selling process, your Realtor should do all of the heavy lifting for you.
#2: Ask about what kind of clients they work with.
Some Realtors work only with sellers and they’ll have assistants work with buyers. Others work strictly with buyers. Look for a Realtor that has a mix of both clients – some buyers and some sellers. This can provide the Realtor greater insight when it comes to making or receiving offers. Realtors will have a clear idea of what clients on the “other side” might be thinking and they’ll help you find ways to select the right offer or make one that the seller will find attractive.
#3: Look at their experience.
Experienced Realtors have negotiated hundreds and sometimes thousands of real estate deals and because of that, they can use their skill to get your house sold or to help secure the home you want to purchase. Your Realtor should be an ever-present mediator that is with you through the process. You don’t have to worry about stumbling through the steps in the dark, as they can leverage their experience to help get the job done efficiently.
#4: Understand their style.
Get to know the Realtor and their style. Are they quick to respond to your questions and when they do, are they thorough? Is the Realtor easy to get along with and how does their personality coincide with yours? Your Realtor’s style should be comfortable for you. Real estate is a very personal business and requires finding the right “match” – one that feels natural for you and your family.
Buying and selling your home can be an exciting time and throughout the process, your Realtor should keep you updated by providing market stats, information on how your home is performing while it is on the market, and they should also let you know when new listings come available if you’re looking to buy. If you’re looking for a Realtor to help make your home sale or home purchase a reality, contact me today.