Hope Real Estate Group, Inc



Posted by Hope Real Estate Group, Inc on 9/4/2019

A home inspection enables a buyer to examine a residence and identify any underlying structural issues. Plus, the assessment allows a buyer to receive a report that details a home inspector's findings to help him or her determine how to proceed in the homebuying journey.

Ultimately, it helps to prepare as much as possible before you conduct a home inspection. If you allocate time and resources to get ready for a home inspection, you'll be better equipped than ever before to achieve the best-possible inspection results.

Let's take a look at three tips to help you prepare for a home inspection.

1. Hire an Expert Home Inspector

There is no shortage of home inspectors for hire in cities and towns nationwide. However, differentiating an average home inspector from an expert one can be difficult.

When it comes to getting ready for a home inspection, it pays to hire an expert to assess a residence both inside and out. Because if you have an expert home inspector at your side, you can learn about myriad home problems before you finalize a house purchase.

To find an expert home inspector, it helps to reach out to home inspectors in your area. Learn about each home inspector's expertise and ask for client referrals. After you perform an extensive evaluation of home inspectors, you can hire an expert home inspector to assess any residence, at any time.

2. Develop a Game Plan

If you want to achieve the optimal results during a home inspection, it helps to enter the inspection with a plan in hand. That way, you can evaluate all aspects of a residence and improve your chances of identifying both minor and major home issues.

Ensure your home inspection plan includes assessments of a house's interior and exterior, as well as a residence's attic, basement and roof. Also, you should test a home's heating and cooling system during an inspection.

3. Consult with a Real Estate Agent

A home inspection may prove to be difficult if you fail to plan accordingly. Luckily, if you hire a real estate agent, you can get the support you need to maximize the value of a home inspection.

Typically, a real estate agent will guide you along the homebuying journey. Once a seller accepts your offer on a home, a real estate agent can put you in touch with the best home inspectors in your area. Then, you, your real estate agent and your home inspector can work together to perform a successful home evaluation.

A real estate agent will provide plenty of assistance after a home inspection too. And if you are uncertain about how to proceed with a house after an inspection, a real estate agent can offer recommendations to help you make an informed decision.

Want to take the guesswork out of a home inspection? Use the aforementioned tips, and you can prepare for an upcoming home inspection.




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Posted by Hope Real Estate Group, Inc on 7/3/2019

One of the worst mistakes you can make when looking for a new home is to allow yourself to become discouraged. Once that happens, your energy level drops, your optimism wavers, and your standards slide.

Searching for just the right house for you and your family may take longer than you expect, but success is often right around the corner! In the mean time, persistence and mental focus will help you get past the rough spots and detours. If you decide to work with a real estate buyers' agent, they will help keep you motivated, encouraged, and updated on new listings.

Although a certain amount of flexibility is necessary when you're in the market for a new home, there are advantages to having a clear picture in your mind of what you're looking for. There are a lot of factors that can play a role in your degree of happiness and comfort in a new home, and it's vital to recognize exactly what those key features and characteristics would be.

Here are a few things to mull over as you visit homes for sale and compare the pluses and minuses of each.

  • Location: In addition to seeking out a neighborhood that's convenient for shopping, commuting, and meeting your family's needs, it also pays to keep investment value in mind. While nobody can look into a crystal ball and say with absolute certainty that property values will increase in the foreseeable future, there are educated guesses and projections that can be made based on trends and available data. An experienced real estate agent can be one of your best resources in determining whether a neighborhood is growing or declining. Very often there are telltale signs that are worth paying close attention to when evaluating different homes for sale.
  • Architectural style: While many house hunters are only interested in features like square footage, lot size, and the quality of the school district, you may have preferences for specific architectural styles. Finding a house that conforms to your architectural preferences can make a big difference in your level of satisfaction. Although there are more than thirty different styles from which to choose, many people lean toward Colonial houses, Craftsman style homes, Contemporaries, Ranch houses, Tudors, Victorians (Queen Anne, for example), Cape Cods, Art Deco houses, Split Levels, and Bungalows. Other style possibilities include Dutch Colonials, Georgian-style houses, and Spanish-influenced architectures , such as the Monterey, Spanish Eclectic, and Pueblo. While some styles tend to be mostly confined to certain areas of the country, most communities have a wide array of architectural styles available to home buyers.
  • Condition of the Home: Some of a house's flaws are easy to spot, while others may require the expertise of a certified house inspector. The extent to which you're willing to make repairs, updates, and renovations to a new home will be one key factor that will determine which house is best for your needs, goals, and budget.
There are literally dozens of features, characteristics, and quality standards to keep in mind when shopping for a new home, but location, structural condition, and style are three factors that are well worth including on your priority list.





Posted by Hope Real Estate Group, Inc on 4/3/2019

If this is your first time buying a home, you might feel a bit intimidated by the purchase contract. Contracts are often filled with industry and legal jargon, making them difficult to understand for the average buyer and seller.

Contingencies in particular give some buyers cause for concern because their contract depends on the contingencies being fulfilled. However, in most cases contingencies are pretty standard and only serve to protect the interests of both the buyer and seller during a real estate transaction.

In todayís post, Iím going to give you an introduction to contingency clauses and break down some of the most common contingencies youíll find in todayís real estate purchase contract.

Contingency clause definition

Simply stated, a contingency clause is a statement within a contract that requires a certain event takes place before the contract is considered legally valid. As a result, contingency clauses are used to cancel or invalidate a contract if certain conditions arenít met before the sale is made final. So, if one party fails to meet the obligation of the contingency, the other party is no longer bound by the contract (or required to buy or sell the house).

Contingencies can get confusing when they are vaguely worded in the contract, making them difficult to interpret. In these cases, a court may decide the specific meaning of the clause or determine that it is too vague to be legally upheld.

The other instance in which contingency clauses can be confusing is when a party includes a contingency that is atypical for a real estate purchase contract. Buyers and sellers alike should be wary of unusual contingencies.

The main contingencies

  • Appraisal contingency. Designed to protect the buyer, appraisal contingencies require that a home is appraised at a minimum amount, which is stated in the contract.

  • Financing contingency. Another contingency geared toward protecting buyers is the financing contingency. It states the number of days that a buyer has to secure financing for the home. This allows the buyer to cancel the contract (and offer) if theyíre unable to secure suitable financing for the home.

  • Inspection contingency. One of the most important and most common contingencies is the inspection contingency. It allows the buyer to have the house inspected by a licensed professional within a certain number of days. This protects the buyer against unforeseen expenses and repairs that will need to be made in the near future.

  • House sale and kick-out contingencies. A house sale contingency gives the buyer a certain number of days to sell their home before financing a new one. However, since this can be a risky clause for sellers, a kick-out clause is often included. This contingency allows the seller to keep the home on the market and entertain other offers while the buyer secures financing and sells their other home or homes.





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Posted by Hope Real Estate Group, Inc on 3/27/2019

When it comes to home buying a home, thereís a ton of different information available out there. A lot of what has been presented as ďfactĒ actually is quite false. These misconceptions could keep you away from achieving the very real dream of home ownership. Below, youíll find some of the most common myths that youíll find about home buying.


If Your Credit Score Isnít Up To Par, You Canít Buy


To get good mortgage rates, having a good credit score doesnít hurt. You can still buy a home if you donít have amazing credit. A low credit score means that your mortgage rates will be higher than the average. There are loans like FHA loans, that allow for you to get a loan with a credit score as low as 580. Donít let a lower credit score discourage you from buying a home. If your credit score is low, there are plenty of things that you can do to help you fix the score in a short period of time.  


You Need 20 Percent Down To Buy A Home


This is a long-standing myth about home buying. While putting down 20 percent on a home purchase saves you the extra expense of Private Mortgage Insurance (PMI), you can still be in the running to buy a home if your down payment is less than 20 percent. There are even some home loan programs that allow buyers to put as little as 0-3 percent down for the purchase of their home.


You Have To Make A Lot Of Money To Buy A Home


Your monthly income is one of many aspects of your financial life thatís considered when youíre buying a home. Home loans can be denied to those who make a large income just as easily as to those who have lower incomes. What matters is the debt-to-income ratio, which tells lenders how much debt a buyer has compared to the amount of income the buyer makes each and every month. Keep your debt down, and youíll be in good shape to buy a home. 


You Donít Need To Be Pre-Approved To Get A House


Being pre-approved gives you an upper hand in the home buying process. Being pre-approved allows your lender and you to go through the entire process of getting a mortgage. When you find a home that you love, youíre able to breeze through the process of making an offer if youíre pre-approved. The pre-approval process is one of the most important aspects of buying a home. 


If youíre prepared with knowledge, buying a home isnít such a daunting process after all. Find a realtor you trust, understand your finances, and the rest will fall into place!




Tags: Buying a Home   finances  
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Posted by Hope Real Estate Group, Inc on 2/13/2019

A homebuying budget can make a world of difference, particularly for those who want to streamline a house search. If you have a budget at your disposal, you will know approximately how much you can spend on a residence. Then, you can narrow your house search accordingly.

Establishing a homebuying budget can be simple. Now, let's take a look at three tips to help you do just that.

1. Evaluate Your Finances

Your income and savings can have far-flung effects on your ability to acquire your dream house. If you perform an in-depth review of your finances, you can find out exactly how much money you have available before you launch a house search.

It often is a good idea to consider your long-term finances as you prepare to kick off a house search, too. A house usually is a long-term investment. And if you account for your long-term finances in your homebuying budget, you may be better equipped than ever before to conduct a successful home search.

2. Get Pre-Approved for a Mortgage

Banks and credit unions are happy to teach you about different types of mortgages. Plus, they can help you get pre-approved for a mortgage without delay.

To get pre-approved for a mortgage, you should meet with several banks and credit unions. Of course, if you have mortgage questions, you should address them before you submit a mortgage application. Once you have a mortgage in hand, you can establish a price range for your house search.

3. Examine Your Potential Closing Costs

Attorney fees, house inspection expenses and other closing costs may surprise some homebuyers. Yet if you understand your potential closing costs, you can plan ahead for these expenses.

Closing costs generally range between 2 percent and 5 percent of a house's purchase price. They also may be incorporated into the overall cost of a house. However, if you evaluate potential closing costs early in the homebuying journey, you can account for these expenses in your property buying budget.

As you get ready to launch a house search, you may want to hire a real estate agent, too. This housing market professional understands what it takes to find and acquire a terrific home at a budget-friendly price. Therefore, he or she will do everything possible to help you accomplish your homebuying goals as quickly as possible.

If you want to purchase a house close to your office in the city, for instance, a real estate agent will offer tips and recommendations to help you find a first-rate house in or near the city itself. On the other hand, if you aspire to own a home that boasts multiple bedrooms, a real estate agent will help you hone your house search to residences that fall in line with your expectations.

Ready to launch a successful home search? Thanks to the aforementioned tips, you can prepare an effective homebuying budget. As a result, you could speed up your quest to discover and purchase your dream house.




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