Real Estate

Last update on January 21, 2025 Navigating the process of buying your first home can be cumbersome, from discovering financing until you find the right one, it can be a challenge. Fortunately for you, that’s where we enter. Here are the answers to all your questions in buying a home. What should I do first? Examining houses for online sale is everyone’s favorite part of the housing purchase experience, but is it the first thing you should be doing? Unfortunately, it is not. It will reach that part of the process soon enough, but to ensure that you are configured for success, in the future, the first thing you should do is find out, how much you can afford. You will want to next meet with a mortgage lender to obtain a pre – approval for a loan. Ideally, your approval must be completed even before communicating with a real estate agent and before traveling to houses for sale. After all, it is not fun to fall in love with a house for which you cannot qualify. Next, find the perfect real estate agent to help you buy your first home. Ask, your friends and family, if they have a real estate agent that they recommend. After finding a real estate agent, sit down and make a list of needs versus wishes. This will help you reduce search criteria and deter it from falling in love with a house that does not meet your criteria. Finally, it’s time to travel to homes in person. Be sure to refer to your list of needs/desires for each property and don’t become discouraged if you visit multiple houses before finding ‘the right one”. Only to recapitulate, this is your outstanding tasks list: Find out how much you can pay Obtain pre -approval Find a real estate agent Think about the needs/wishes Start visiting houses How much will I need for an initial payment? Despite what you may have heard, first time home buyers don’t usually need 20% for a down payment. When it comes to initial payment options, buyers for the first time do not need to worry: there is a loan program that fits their budget. Here is a quick look at the most common housing buyer loan options for the first time: Conventional loans: 3%  Available through Fannie Mae and Freddie Mac, these loans backed by the Government offer borrowers some quite attractive mortgage options. Qualified buyers can buy a house with only 3 percent. FHA loans: 3.5%  FHA loans are often the best option for buyers for the first time. Less than stellar credit and not much effective in advance? The loans of the FHA are your saving grace. Housing buyers passing through the FHA to finance their home can do so with only 3.5 percent of leave. VA loans: 0% For army members, veterans, reservists and the National Guard, loans backed by veteran affairs can be obtained without any initial payment. PMI or private mortgage insurance, which is generally required for loans obtained without a minimum initial payment of 20 percent is not required with these loans, another great advantage. USDA loans: 0% Backed by the United States Department of Agriculture, Buyers of Eligible Rural and Suburban Housing can qualify for zero percent initial payment loans with low interest rates. If the hustle and bustle of the life of the big city has never been its scene, sit with a lender to verify and see if the home that interests him complies with the criteria of the USDA. In addition to the initial payment, why will I have to pay? Beyond its initial payment, you must come to the closing table with a check for its closing costs. From 2 to 5% of the total price of purchase of its loan, closing costs cover items such as lawyer fees, title rates, prepaid and warranty deposit, just to name a few. I have heard that the market is hard and I can get caught in a war of offers, how can I prepare better for that? In 2025, the market will be more balanced. However, the lack of inventory and a greater demand still make it a sellers market. In a market where there are more buyers than the houses available, especially for houses with the right price and in good condition, several buyers can make an offer in the same house; This is what is called a multiple offer situation. Do not worry: there are many things that you can do so that your offer stands out: First, make sure you are approved before sending an offer. If the list of pending tasks that we describe at the beginning were followed, you can continue and verify this outside your list. Next, be sure to send a “clean offer”, free of too many contingencies. If you are not sure what is too much to ask a seller, consult your real estate agent. They have a good pulse in the market at all times and can guide it in the right direction. Finally, be sure to present the best possible offer. Again, if you are not sure what could be competitive, talk to your real estate agent. They will be equipped with comparable market data and can guide it as you reach a number with which you feel comfortable.     I visited 2,218 times, 1 visit (s) today

Last update on January 23, 2025 When selling your home, the presentation is key. And the presentation begins at the main door. That is why exterior attractiveness is one of the most important things to consider when selling your home. A clean and well maintained entry can contribute greatly to establish a first positive impression. And that excellent first impression marks the guideline for the rest of the tour of his house by the buyer. The small and economic updates of the exterior appeal of their home can really make a big difference when selling a house, both in the time that takes it to sell it and in the price offered. When the leaves (and the snow!) They begin to fall and the shadows are lengthened, the exterior attractiveness can be difficult to maintain. Here are five easy and economical ways to improve its exterior attractiveness in cold climates. 1. Add a pot in pot When your established landscape begins to fade with the season, it improves the exterior attractiveness of your home by adding plants in pots to the porch. Seasonal colors, such as violas and thoughts, or other native plants, will make their entrance look fresh and lively. Or you can opt for a perennial leaf tree that will look good throughout the year. Keep plants with an excellent appearance throughout the winter protecting them on cold nights. When the temperature drops below the freezing point, cover the plants with a sheet or take them inside during the night. 2. Incorporate lighting The daylight is short during the winter months, but busy housing buyers have no days to lose! Adding lights along the halls to the entrance door makes your home feel more cozy. And when installed permanently, external lighting is also an excellent way to increase the value of your home. For the housing seller with a limited budget, reflectors or flashlights that work with batteries are an excellent way to illuminate the entrance door quickly, literally and in terms of exterior attraction. 3. Frame the entrance door Your entrance door is more than the entrance to your home. It is the key to the exterior attractiveness of your home. So, frame it to look as well as possible! Update the crown and door mat, especially if they are seasonal designs. Install reflectors or flashlights to illuminate the entrance door. And add a new layer of paint. Consider a daring or cheerful color, Especially one that marks the pattern for the interior design of your home. 4. Eliminate doubts before each presentation Autumn colors look great in your trees, but they become a great monstrosity as soon as the leaves touch the ground. Snow can be even more uncomfortable. Do not give potential buyers any reason to discount their property. Clean the gutters and downspouts. Keep the front porch and sweep or palette corridors. And don't forget to look up too. If you cannot pressure your house and windows, be sure to sweep dust and dirt as frequently as you can. 5. Update your mailbox Once you have taken care of your home, take a step back to see how it looks from the road. Is your mailbox ruining your eyes? Start by giving a deep cleaning with a sponge and warm water and soap. If you are covered with mold or algae, frot you again with a vinegar dilution. Once it is clean and dry, wears your mailbox for the season or refresh it with a new layer of paint. There are some rules about how much decoration can add to your mailbox, especially if your home is governed by an association of owners, but the only limit is your imagination. Is its exterior attractiveness for the cold climate for housing buyers? Many things can contribute to the exterior attractiveness: the landscape around the house, the quality of painting work and perhaps the most important of all, the entrance door that serves as an entrance to your home. Does the type of exterior attraction for cold climates that attract housing buyers? Before placing a “sold” poster, cross the street. Look at your house, then walk to the main door, put on the main door for two minutes and take notes of everything you observe. Most buyers will normally wait with their real estate agent while trying to open the main door. That means that they spend a lot of time in that small space forming opinions about the rest of the house. ____________________ Allen Tate is the largest real estate company in the Carolinas with more than 70 offices and 1,800 real estate agents in the regions of Charlotte, Triad, Triangle, High Country, Upstate SC, Highlands/Cashiers and Asheville/Mountain. Allen Tate is a partner of Howard Hanna Real Estate, the largest private real estate corridor in the US In 13 states. For more information, visit www.allentate.com and www.howardhanna.com. Visited 1 times, 1 visit today (Tagstotranslate) Home page

Are you thinking about entering the real estate market in 2025? In today’s post, Allen Tate’s top minds come together to predict what will happen in 2025. While no one has a crystal ball and we’re not economists, our predictions are pretty much in line with those of other national real estate publications, So we are confident that this article will offer an educated estimate of what to expect in the 2025 real estate market. Interest rates All signs pointed to lower interest rates heading into 2024. However, things didn’t go exactly as we expected and interest rates remained quite stubborn for much of the year. The top minds at Allen Tate echo the predictions of most economists and anticipate that rates will be around six at the beginning of the year and end the year a little lower, around 6.25%. Given the continued rates of home appreciation in the Carolinas, it makes no financial sense to continue waiting for “the right time to buy,” and we predict that more potential buyers will come off the bench and into the housing market in 2025. . Let’s see exactly what our team of experts predicts for 2025 regarding mortgage interest rates: Mark McGoldrick, Executive Vice President of Howard Hanna Mortgage predicts mortgage rates will be between 6.25-6.5% Neal Hank, President, Allen Tate/Beverly-Hanks predicts mortgage rates will be around 6.5% Phyllis Brookshire, Senior Vice President of Operations, Allen Tate Realtors predicts mortgage rates will be in the 6% range Eric Heintschel, Chief Financial Officer, Allen Tate Company, predicts that we will see interest rates between 6 and 6.5% in the first half of the year and between 5.75% and 6.25% in the last half of 2025. Gary Scott, President, Allen Tate Companies predicts mortgage interest rates will be in the low 6% range Inventory Experts predict we’ll see the highest for-sale inventory since December 2019, a welcome relief, especially for first-time buyers. If you buy in 2025, you can expect to experience a slower-paced and much less competitive market than we have experienced in a long time. Here’s what our experts shared on the topic of inventory: Mark McGoldrick: Inventory will increase. We’ll see it rise early in the year as interest rates drop, and later in the year, we’d expect inventory to rise even further as interest rates continue the downward trend. Neal Hank: Days on market have increased as well as months of supply of inventory (MSI)* this year and I think we will continue to see that in 2025. Baby boomers will downsize and buyers who have been on the sidelines for a couple of years finally enter the market. I expect the MSI at the national level to be above 4 and at the local level above 3. Phyllis Brookshire: MSI increases from 2 to 3 bass. In 2025, we will see an increase in DOM and MSI will follow that pace. Sellers who have been on the sidelines for the last few years will likely price their home as it should have been 2 years ago (when inventory was much tighter) and, as a result, their homes will stay on the market longer. . Eric Heintschel: Inventory will increase, but will peak in the spring; Locally in the Carolinas we will see an MSI of 3.3 and nationally we will see 4. *Anything below five months supply (MSI) is a seller’s market, anything between five and seven months is a balanced market, and anything over seven months becomes a buyer’s market. Price appreciation Nationally, price appreciation is expected to grow at a slower rate than in previous years. This will largely be due to the expected increase in inventory, thanks to falling mortgage rates. However, home appreciation rates remain hyperlocal, and in the Carolinas, we are likely to experience a higher appreciation rate as our area remains a very desirable place to live. Here’s what our experts predict in terms of house price appreciation by 2025: Phyllis Brookshire: Nationally, we will see an appreciation of 5-6%. Locally, the range could be 3-10% depending on where in the Carolinas you are. Neal Hank: Nationally 3%, Carolinas 5-5.5% Gary Scott: Stable nationally, Carolinas 6-8% Eric Heintschel: Nationally 3%, Carolinas 5-5.5% Mark McGoldrick: Nationally 2-3%, Carolinas 5-6% Inflation Inflation continues to trend downward, but there are some questions about where it could go in 2025, particularly in the second half of the year, as new economic policies are implemented as a result of the new administration. Here’s what our experts predict regarding inflation in the new year: Neal Hank: Inflation is falling and is expected to end the year in the range of 2.2-2.5%. Mark McGoldrick: Real estate, rentals, and insurance are where we saw most of the inflation increases in 2024. In 2025, those items should be pretty much under control. I don’t know if we will reach 2% without other developments in the workplace. I think we will see between 2.25 and 2.4%. Eric Heintschel: Inflation measures a reflection of policies and things that have happened in the previous 6 to 9 months. We will continue to see inflation trend downwards closer to the target. Due to possible tariffs and immigration policy, I think it will trend lower in the first half of 2025, but I am cautious about how it could rise again in the second half of the year. Phyllis Brookshire: We’ll see low 2s all the way up to 4 due to the factors Eric mentioned. _____________________________________ Visited 6 times, 6 visit(s) today

The average homeowner has a large capital quote Your house could be a hidden gold mine. Home prices have increased significantly and homeowners who have been in their homes for years are seeing record levels of equity. That capital could help you finance your dream move, finance improvements, or even start a new business. Ready to see the value you've created and how you can use it to achieve your goals? come on connect. Don't forget to check out our latest market reports! I'm Joe Peters, a real estate agent with over twenty years of experience at Coldwell Banker Residential Brokerage. I work with people who want to buy or sell a home (or both) in Hunterdon or Somerset County, New Jersey. Clients rely on me for detailed market and neighborhood information and smooth real estate transactions. My access to big data through Coldwell Banker, plus current technology and marketing skills, gives clients a unique advantage.

Rental investments in the Upper Country Common real estate investment terms: Investing in rental properties in North Carolina's High Country, encompassing Boone, Blowing Rock, and Banner Elk, offers a lucrative opportunity to capitalize on the region's natural beauty and vibrant community. Whether you are considering short-term vacation rentals or long-term student accommodation, it is essential to understand key real estate investment concepts. Key real estate investment terms: Short Term Rental (STR): A furnished property that is rented for short periods, ranging from a single night to a couple of months. Long Term Rental (LTR): Properties leased to tenants for extended periods, typically six months or more. Equity: The difference between a property's current market value and the remaining balance on its mortgage. Equity builds up over time as the mortgage is paid off and the value of the property appreciates. Cash flow: The net income an investor retains each month after covering all operating expenses, including loan payments, taxes, insurance, and maintenance. Positive cash flow indicates profitability. Return on Investment (ROI): A percentage that represents the annual profit or loss in relation to the total investment. Calculated as ROI = Net Profit / Total Investment. Net Operating Income (NOI): Annual income generated by a property after deducting operating expenses such as property taxes, management fees, and utilities. Capitalization rate (cap rate): The relationship between the NOI and the current market value of the property, which indicates the expected rate of return. Condos for children: Properties in university towns purchased for student occupancy. These investments can provide rental income and help students establish residency for in-state tuition benefits. Homeowners Association (POA): An organization that governs a community or development, similar to a Homeowners Association (HOA), often found in areas with vacant lots. R1 Zoning: Residential zoning designation that typically restricts properties to single-family use, prohibits short-term rentals, and limits occupancy to no more than two unrelated persons. Long term rentals: The High Country's proximity to Appalachian State University in Boone presents excellent opportunities for long-term rentals, particularly student housing. Properties close to the university or along AppalCart routes are in high demand, ensuring consistent occupancy. In addition, professionals moving to the area often look for long-term rentals before settling permanently, which maintains a constant demand for these types of properties. Short term rentals: The appeal of the High Country as a vacation destination makes short-term rentals a profitable venture. Visitors are drawn to the region's mountain views, outdoor activities such as hiking, skiing and fishing, and cultural attractions including local breweries, wineries and Appalachian state sporting events. Investing in a short-term rental allows you to generate income while enjoying a personal retreat in this picturesque area. Attractive features for vacation renters: To enhance the appeal of your vacation rental, consider incorporating amenities such as: Panoramic views: Properties with mountain views or sea access are highly sought after. Proximity to attractions: Locations near popular outdoor activities, cultural sites, or the university attract more guests. Modern services: Features like hot tubs, fireplaces, and updated kitchens can enhance the guest experience. Pet-friendly options: Allowing pets can expand your potential guest base. Investing in the High Country rental market offers financial rewards and personal enjoyment. Whether you opt for a short-term or long-term rental strategy, the region's dynamic market and natural appeal make it a compelling option for property investment. For personalized assistance in finding the ideal rental property, consider contacting local real estate experts who can guide you through the process.