The Top 5 Things a Buyer Specialist Provides Homebuyers

Here’s why you should always enlist the help of a buyer specialist.

There are a variety of opportunities in the Central Pennsylvania real estate market for both buyers and sellers.
If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

If you’re thinking about buying a home, you need someone who can advocate for you and negotiate on your behalf. This is why reaching out to a buyer specialist is so important, especially in a crazy market like ours. The best part of it all is that an agent’s services are free for the buyer, as the seller is the person who covers commission fees. A home purchase is a complex transaction full of many complicated details, so you want to be sure you’re in good hands throughout the process. This is why you want to sign a buyer agency agreement, which provides you with 100% commitment from an expert who knows how to help you beat the competition. The buyer agency agreement entitles the buyer to the following things: 1. Loyalty: The agent will always act in the best interests of their client. 2. Disclosure of all material facts: The agent will research properties to identify any potential issues, helping the client to make a fully informed decision.

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An agent’s services are free for the buyer, as the seller is the person who covers commission fees.

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3. Confidentiality: The agent will keep your bargaining and financial position confidential while promoting your best interests. 4. Accounting in dealings: The agent will provide assistance in securing appropriate financing. 5. Reasonable skill and care: The agent will advise you on how to structure an offer by providing pricing and negotiating advice through a competitive market analysis. When you have a buyer specialist, you can feel confident that you will be fully represented throughout your transaction. If you’re ready to find an expert who can help you accomplish your home buying goals, or if you have any questions about our market, feel free to reach out to me. I look forward to hearing from you soon.

Why Rent and Pay Someone Else’s Mortgage?

If you’re unsure of whether you should buy a home or continue renting, the statistics are strongly in favor of buying.

There are a variety of opportunities in the Central Pennsylvania real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

Today I want to talk about the cost of renting versus the cost of buying a home. I always preach to my boys and their friends that they should save their money and invest in real estate. Why pay someone else’s mortgage when you can pay your own mortgage and build equity in a home? A recently released report regarding homeownership revealed that 37% of American homes are tenant-occupied and only 63% are owner-occupied. It’s difficult to imagine that more Americans couldn’t be enjoying the American Dream. What’s ironic is that many of them think they can’t afford to buy a home, so they end up buying a home for their landlord. Most people don’t realize, however, that buying a home costs significantly less than renting one. The mortgage payment—including taxes and insurance—will typically be lower than the rent you might pay for a similar home. Plus, you won’t have the real estate tax or interest write-off when tax season arrives.

By buying instead of renting, you can save 15% of your income.

Historically, the difference between renting or buying a home has been relatively marginal. By February 2017, though, the difference was staggering and strongly in favor of buying. The percentage of income needed to rent a median-priced home today is 30%, while the percentage of income needed to buy a median-priced home is only 15%. Imagine saving 15% of your income. That’s huge! Renting precludes you from enjoying the advantages a home has as a leveraged investment. Before you renew your lease this spring, find a Realtor or lender to help you crunch the numbers. They’ll help you see how you can reduce your housing costs in order to own a home of your own. Why rent when statistics show that homeownership would cost a mere 15% of your income compared to 30% if you’re a tenant? We would like to help you achieve the American Dream of homeownership. Whether you’re looking to buy a home or you have a home that you want to sell, we have both buyer specialists and listing specialists ready and waiting to assist you. Just give us a call or send us an email and we’d be glad to help you.

3 Important Questions to Ask When House Hunting

Before you begin the home buying process, you should answer a few questions about your motivations.

There are a variety of opportunities in the Central Pennsylvania real estate market for both buyers and sellers. If you're a prospective buyer click here for a full home search, or if you're considering placing your home on the market, get a free home value report, right here.

If you are debating on whether to purchase a home right now or not, you are probably getting a lot of advice through your friends and family. Of course they have your best interests at heart, but they may not be fully aware of your needs and how that coincides with what’s going on in the real estate market.

There is a common list of questions that every buyer should ask, but these three questions in particular will help you determine if now is actually a good time to buy.

1. Why are you buying in the first place? This is the most basic question, but it’s also the most important. For a lot of people, buying has nothing to do with money. Maybe you just want a place to raise your children or a place where you can have more space. The answer to this question should be the biggest reason you are buying.

Values are projected to increase by 5.3% over the next 12 months.

2. Where are home values headed? Values are projected to increase by 5.3% over the next 12 months. If you’re planning on buying a home that costs $250,000 today, that same home will cost you an additional $13,250 if you wait until next year. You’ll have a higher down payment as well.

3. Where are mortgage interest rates headed? Buyers should be concerned about more than pricing. The long-term cost of a home can be dramatically impacted by even a small increase in rates. They are projected to increase over the next 12 months, so you need to know what you can afford with current rates and what you’ll be able to afford when they inevitably go up.

The bottom line is that only you and your family will know for certain if now is the right time to purchase a home. Answering these questions will help you make that decision. If you have any questions for us or are thinking about buying or selling, give us a call or send us an email. We look forward to hearing from you.