Articles Tagged "Buy a house"

If you're in the market for a home, you'll go through many steps before you finally close the deal and move into your new home. Our REALTORS® are experienced and knowledgeable about the home-buying process and can make the process go as smoothly as possible.
  
They offer the following six tips that every home buyer needs:

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A home inspection is an important part of the home buying process as you look at Midland homes for sale, since it gives you information about a home's condition. Buyers should have homes inspected before the sale goes through, and if the inspection highlights significant issues, they may choose to buy another home or ask for a reduction in price. 
  
Our REALTORS® recommend asking your home inspector these questions:

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Whether you're selling your home or buying a new home, you're probably excited as you look forward to the deal closing. Most pending home sales are completed without any issues, but a lot can happen between the time when a buyer makes an offer, and the purchase of the home is complete. In some cases, the result is a delay, and for others, the sale may completely fall through.

Our REALTORS® share the following common reasons why a pending home sale can go wrong:

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When you're ready to buy a home, you're likely to see new homes as well as older ones on the market. Each has its pros and cons, so how do you decide which type of home is better for you?

Our REALTORS® suggest looking at the following differences when you're deciding whether to buy a new or older home:

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Moving is a time-consuming, stressful task, but it's well worth it when you're happily settled into your new home. But with so many tasks involved, many homeowners make mistakes during the move or when they're decorating and personalizing their new home.

Our REALTORS® share these mistakes to avoid when moving into your new home:

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If you're planning a move, you should consider making Midland, MI your new home. The city has plenty of amenities that are normally associated with larger cities but has retained its smaller town charm.

Our REALTORS® share the following reasons why you should move to Midland:

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If you're thinking about buying a home, you'll need to figure out how much money to save in order to make it happen. By calculating how much you can afford to pay for a home, as well as how you'll pay for a down payment and other initial expenses, you'll be taking important first steps toward buying your new home.

Our REALTORS® share the following information about how much you should save — as well as how to do it — to buy a house:

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Many people struggle to purchase their dream home because they can't afford to make the 20% down payment. Of course, you can put down less than 20%, but you'll be saddled with private mortgage insurance (PMI), which can make it more challenging to pay off your mortgage. Fortunately for veterans and active military members, they can fulfill their dreams of homeownership through a VA loan. Our REALTORS® break down some of the important things you should know about VA loans and how they work.

What is a VA Loan?

A VA loan is a mortgage loan that is made by private lenders through a program established by the U.S. Department of Veteran Affairs. The program was designed to help veterans, active-duty military personnel, eligible surviving spouses of veterans, and other classes of military personnel to become homeowners at an affordable cost. The VA guarantees a part of the loan, sets eligibility requirements, and dictates the terms of the loan offered. The VA loan does not require down payments, mortgage insurance, or some closing costs.

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Our REALTORS® bring the dream of homeownership within reach for buyers from all kinds of backgrounds. No matter whether you've never owned a home before, are early in your career or later in life, we will support your goal.

Midland homes for sale are available to meet virtually any need. Even if you have a relatively modest budget or very specific requirements, there is a home here for you. There are several ways virtually anyone can make a home more attainable.

Let's consider the possibilities:

1. Begin Saving Early
   It's important to realize that a 20% down payment is no longer a requirement to buy a home. Still, the more you are able to save, the easier it will be to finance the rest. Savings begins with a household budget. You'll need one in the run-up to buying and afterward!

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Getting a less-than-favorable home inspection report is not the end of the world; nor is it the end of your real estate purchase. Use it as a chance to reassess your financial position. Decide what needs to be done and when you need it done by. Crunch numbers to see if you can maximize the value of your purchase. Our REALTORS® can guide you every step of the way.

What could cause a poor home inspection report? Many things:

• Foundation problems, including cracks or sinking, can lead to flooded basements
• Subpar plumbing, including failing water heater, pipes that are too small, or leaks
• Frayed wiring or electrical not up to code
• Mold issues
• Termite damage
• Roof problems, such as missing shingles, leaks, or full replacement needed
• Sticking or broken doors and windows.
• Lead paint or asbestos present
• Chimney damage

So, what should you do when you get a bad home inspection report?

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UP! Sale prices have seen nice growth! The law of supply and demand was clearly evident in our market. Midland County saw a 2.4% decline in number of homes available for purchase in 2018. Corresponding sales numbers resulted in unit sales for homes and condos of 1208 in 2018 vs. 1316 in 2017. This lack of inventory and continued high demand lead to an increase in the average sale price for Midland County homes from $160,546 in 2017 to $177,655 in 2018 – an increase of more than 9%. Median sales price was also on the rise from $134,000 in 2017 to $149,000 in 2018. Days on market have continued to decline from 78 in 2017 to 58 in 2018. Days on the market for just single-family homes was even less at just 55 days. Sellers on average sold for 97.48% of listing price vs 96.86% in 2017 and the price per square foot has increased on average from $90 to $97. Properties that were unsuccessful in securing buyers and left the market dropped from 21.36% in 2017 to 14.48% in 2018.

Home sales below $200,000 represented 85.6% of the entire Midland County market. These properties were in great demand and saw the highest appreciation. It was not uncommon to see multiple offers in our peak season. In 2017, 400 properties sold at or below $100,000 while only 284 sold in this category in 2018. The demand remains high as buyers recognize the value of home ownership. Entry level buyers are finding terrific financing opportunities. The rental market remains tight, with investors purchasing properties that are also attractive to first time buyers.

Why is housing inventory so low? According to Marci Rosell, former Chief Economist for Leading Real Estate Companies of the World, demographics tell the tale. She says to think of America's population as a "barbell" with Baby Boomers on one side and Millennials on the other (with GenX the tiny handle in-between). Millennials and Boomers are, in many cases, pursuing the same type of housing (albeit for different reasons) which is extending the unprecedented housing inventory shortage.

Properties in higher price ranges sometimes experienced longer days on market and higher discounts. The lifestyle demands of many buyers today has these house-hunters looking for move-in ready properties. They are willing to sacrifice size or location preferences for a more updated property. Busy couples with an active family are not prepared to spend the time and energy necessary to create the home of their dreams.

2019 has started with more activity than we would usually see at this time. The holiday season and cold weather did not stop buyers from looking for their new home. If a move is in your future – now is a great time to buy or sell! Give us a call, we are happy to help! Ayre Rhinehart Realtors, 989-631-7000.

Could there be a better time to buy a home than the holiday season? Even though conventional wisdom says that the real estate market peaks in summer, there are a wealth of benefits to buying during the off-season, and our REALTORS® want to make sure you don't miss out on this great opportunity. These are the top five reasons to buy your house during the holidays.

1. Less Competition From Other Buyers
   Most people who are looking to buy a home do so in spring and summer, which is great news for anyone who wants to find their home during the fall and winter months. Less competition means that your offer is more likely to get the attention that it deserves, and you're less likely to lose out to another buyer swooping in with a higher offer.
   
   

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Moving to a new home brings with it the excitement of the future and getting to know your new town. However, managing the move itself must be dealt with before you can get on with the next phase of your life. 

Our REALTORS® dedicate themselves to making your home buying and selling experiences great, and we understand that little details can make a big difference in how smoothly the process goes. To make moving a bit less stressful, we've compiled a list of must-do's you'll want to consider when you are buying a house in Midland, MI. 

1. Set the Date
   Once you're sure about your move, set a target date to leave your current home. Establishing your moving date gives you a target to plan and execute your move successfully. Break the time frame down into sections, setting goals for every few weeks and checking off items on your to-do list.

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As parents, you know all too well that each year seems to pass more quickly than the last. Somewhere between busy schedules, play dates, and trying to keep your household organized, your toddler has gone from finger painting and nap time to riding the school bus and learning to read. Although it's impossible to stop time, one of the best ways to preserve the memories of your growing family is to capture them with professional family photographs. Our REALTORS® would love to share some of our favorite family photographers in the Midland area so that you can schedule an appointment before another year flies away.

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The perfect combination of upscale and downhome, Downtown Midland, MI is a favorite of both locals and visitors. If you're searching for Midland homes for sale or you're already a resident, spending some time downtown is a must.

For a day of shopping and family-friendly fun, you can't beat the Midland Area Farmers Market. Open from May to November each year, the market is a weekly staple for residents. More than just a few veggie stands, this market is truly impressive. Here's what you need to know so you can make the most of your visit.

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Determining your home buying budget can be confusing, especially if you're a first-time home buyer. Give yourself a significant advantage over other house hunters by gathering information about Midland homes for sale and home buying in general before you start your search. Our REALTORS® created this list of five tips to buy a house without breaking the bank. 

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If you've recently decided to invest in your future by purchasing a home, it's likely that you already have a look to see what's available and which homes appeal to you. Buyers in the know, however, will review their budget alongside their wish list before taking serious steps towards making an offer on a home. One of the most beneficial things you can do ahead of time is obtain pre-approval from your lender to make the process quicker and less frustrating. Our REALTORS® are here to help with your real estate goals, and we think it's important to understand the advantages of getting pre-approved early in the process. 

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