T. Jay Johnson Jr. - RE/MAX Property Promotions



Posted by T. Jay Johnson Jr. on 2/8/2019

Anyone can buy a home Ė all it takes is hard work and diligence to evaluate your home financing options. Fortunately, we're here to help you streamline the process of finding the financing that you'll need to pay for a residence.

Now, let's take a look at three tips to help you determine how you will afford a house.

1. Take a Look at Your Current Financial Situation

Put together a monthly budget that outlines your current spending patterns. This will enable you to review how much you earn, what you're paying for housing and other pertinent financial information.

After an in-depth review of your current financial situation, you'll be better equipped than ever before to determine how much you can pay for a house. Then, you can create a homebuying budget to help you move closer to acquiring your dream residence.

2. Get a Copy of Your Credit Report

In all likelihood, a lender will receive your credit score to determine whether you are a viable candidate for a mortgage. If you request a copy of your credit report today, you can learn about your credit score and take steps to improve it before you apply for a mortgage.

The three major credit reporting bureaus (Equifax, Experian and TransUnion) provide one free copy of a credit report annually. If you submit a request for your credit report, you can gain unprecedented credit insights in no time at all.

Furthermore, if you find errors on a credit report, don't hesitate to contact the reporting bureau. This will enable you to fix any credit report mistakes prior to applying for a mortgage.

3. Reach Out to Local Lenders

Banks and credit unions are happy to meet with you and discuss a variety of mortgage options. These lenders are available in cities and towns nationwide and can teach you everything you need to know about home financing.

Ultimately, lenders can explain the home financing process and ensure you can avoid any potential pitfalls along the way. And if you ever have mortgage concerns or questions, lenders are available to respond to them at any time.

If you need extra help prior to kicking off a home search, you may want to contact a real estate agent as well. This housing market professional understands the ins and outs of purchasing a house and can help you plan accordingly.

Oftentimes, a real estate agent will meet with you and learn about your homebuying goals. This housing market professional then can ensure you won't have to break your budget to afford a terrific residence.

If you want to buy a home but have limited finances at your disposal, a real estate agent is happy to assist you. Or, if you are searching for a mortgage but don't know where to begin, a real estate agent can put you in touch with top lenders.

Work with a real estate agent, and you can improve your chances of acquiring a first-rate house at an affordable price.





Posted by T. Jay Johnson Jr. on 2/1/2019

If your initial offer to purchase a home is countered, there is no need to stress. In fact, there are lots of reasons why you should negotiate with a house seller, and these include:

1. You can speed up the homebuying journey.

The homebuying journey may prove to be long and complicated. If you find a house you want to buy, however, there is no need to wait to submit an offer to purchase this home. And if a seller wants to negotiate with you, it may be worthwhile to work with this individual so you can acquire your ideal house.

A homebuying negotiation enables you to try to reach a house purchase agreement with a seller. Plus, if you and a seller cannot come to terms, you can always reenter the housing market and continue to search for another home that matches your expectations.

2. You can find common ground with a home seller.

When it comes to buying a home, it is important to avoid submitting a "lowball" offer to purchase. If a buyer submits a lowball property buying proposal, he or she risks alienating a seller. Worst of all, a seller may be more likely than ever before to reject the buyer's proposal and move forward with other offers to purchase.

Thanks to a homebuying negotiation, you can come to terms on a home purchase agreement that works well for both you and a seller. As a result, both you and a seller will be satisfied with the final terms of a home purchase agreement.

3. You can pay the lowest price for your dream home.

If you feel a seller's initial asking price is too high, negotiating with this individual offers an excellent opportunity to get the best price for your ideal house. And if you open up negotiations with a seller, you could acquire a terrific house at a budget-friendly price.

Of course, it is crucial to consider the seller's perspective during a homebuying negotiation. If you maintain constant communication with a seller, both you and this individual can work together to finalize a home purchase contract.

Negotiating with a home seller may be stressful, regardless of whether you are buying a house for the first time or have purchased residences in the past. Fortunately, if you hire a real estate agent, you can receive expert support as you negotiate a home purchase.

A real estate agent is happy to negotiate with a house seller on your behalf. He or she will keep you up to date throughout a home purchase negotiation. Best of all, a real estate agent will do everything possible to help you purchase your dream house at the lowest price.

For those who want to achieve the optimal results during the homebuying journey, it generally is a good idea to negotiate with a seller. If you are willing to negotiate with a seller, you could acquire your dream home faster than ever before.




Categories: Uncategorized  


Posted by T. Jay Johnson Jr. on 1/25/2019

If you intend to buy a house in the foreseeable future, it pays to prepare. That way, you can enter the real estate market as an "extraordinary" homebuyer, i.e. someone who knows exactly what it takes to find a great house at an outstanding price.

Now, let's take a look at three tips to help any homebuyer go from ordinary to extraordinary.

1. Learn the Ins and Outs of the Housing Sector

The real estate market is complex, particularly for someone who is pursuing a house for the first time. Fortunately, plenty of housing market data is available that can help you gain the insights that you need to make an informed home purchase.

Take a look at homes that are currently available in your city or town. By doing so, you can better understand the prices of houses that match your expectations. Then, you can tailor your home search accordingly.

Furthermore, don't forget to assess the prices of recently sold residences in your area. This housing market data will help you determine whether you're about to enter a real estate market that favors buyers or sellers.

2. Get Your Finances in Order

Meet with banks and credit unions to learn about your mortgage options Ė you'll be glad you did. If you get pre-approved for a mortgage, you can begin your home search with a budget in hand, thereby reducing the temptation to spend too much on a house.

Lenders are happy to provide you with information about a broad range of mortgage options. Also, if you ever have mortgage questions, lenders employ friendly, professionally trained mortgage specialists who are ready to respond to your queries.

In addition, it usually is a good idea to evaluate your credit score prior to applying for a mortgage.

You can obtain a free annual copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). If you review your credit report closely, you can identify and resolve any potential credit problems and increase the likelihood that you can obtain a favorable mortgage.

3. Work with a Real Estate Agent

When it comes to becoming an extraordinary homebuyer, it is important to note that it can be difficult for even the most diligent homebuyer to succeed on his or her own. However, if you employ an expert real estate agent, you can streamline the process of acquiring your dream residence.

A real estate agent is committed to your homebuying success, and as such, will do everything possible to help you find the perfect residence.

Typically, a real estate agent will set up home showings, negotiate with a seller's agent on your behalf and provide honest, unbiased homebuying recommendations. This housing market professional will even help you alleviate homebuying stress and ensure that you can quickly go from homebuyer to homeowner.

Ready to embark on the homebuying journey? Use the aforementioned tips, and you can become an extraordinary homebuyer in no time at all.




Categories: Uncategorized  


Posted by T. Jay Johnson Jr. on 1/18/2019

For a buyer who is interested in learning more about a residence, it may be beneficial to set up a house showing. In fact, there are many reasons why now may be a good time to schedule a home showing, such as:

1. You can determine if a home is right for you.

Many houses are available in cities and towns nationwide, and as such, differentiating a good home from a great one sometimes can be difficult. Fortunately, a home showing offers a worry-free opportunity to get an up-close look at a residence. And after a showing is complete, you can decide whether a house matches your expectations.

During a home showing, a seller's agent can respond to any of your house concerns and questions. This agent also can provide details about why a seller has listed his or her residence, as well as other information about a home that you may be unable to obtain elsewhere.

Of course, if you are satisfied with a home following a showing, you can submit an offer to purchase this residence. Or, if you find that a home fails to meet your expectations, you can continue your pursuit of your dream house.

2. You can compare and contrast similar houses.

A home showing provides a valuable learning opportunity, as it enables you to compare and contrast houses against one another. If you set up multiple home showings, you may be able to review a wide range of residences in a short period of time.

You can set up as many home showings as you want, too. Therefore, if you find you still have questions about a house after a showing, there is no need to stress. Simply schedule a follow-up showing, and you can take a second look at a residence at your convenience.

3. You can make an informed homebuying decision.

As a homebuyer, it is important to gain as much information about a house as possible. And if you believe a home may be your dream residence, there is no harm in setting up a showing. That way, you can view a residence in-person and make an informed decision about whether to proceed with an offer to purchase.

Pursuing a home may be challenging, regardless of whether you are interested in buying a home for the first time or have purchased residences in the past. If you collaborate with a real estate agent, you can receive comprehensive support as you search for your ideal house.

A real estate agent can help you schedule home showings and weigh the pros and cons of different residences. Plus, if you find a home you want to buy, a real estate agent will help you craft a competitive offer to purchase this residence.

Want to accelerate your quest to acquire your ideal home? Schedule a showing today Ė you'll be glad you did. Because if you allocate time and resources to view a residence in-person, you may discover your dream home.




Categories: Uncategorized  


Posted by T. Jay Johnson Jr. on 1/11/2019

If youíre looking to buy a new home anytime soon, getting your finances in order is an excellent first step to getting the keys to your dream property. No matter where you want to buy a home, your financial picture is the most critical aspect of buying a home. Read on for some tips to get you financially prepared to buy a house.


Set A Savings Goal


Buying a property will require a significant amount of money up front. From closing costs to the down payment, you need to set a specific amount to save up before you even get out on the house hunt. 


Break your savings goal down by month over a yearly number if you have multiple years before you buy. 


Have A Specific Account For Savings


If you donít see it, you wonít spend it. Tuck all of your savings in one account. Use automatic transfers to make saving from your paycheck easier and seamless. Before you even check your account, youíre on your way to your savings goals. You may not want to keep your money in higher yield accounts. These may not allow you to take the money out when you need it. Take the time to shop interest rates on savings accounts at different banks. Some may even offer a bonus. Just remember always to pay yourself first. Donít be tempted to spend the money that you have saved.    


Rethink Your Budget


Depending on the amount that you want to save to buy a home, you may need to cut costs significantly. Take the time to do a budget and see where you may be able to cut down on costs. Should you cut the cord on cable? Are you going out to restaurants too often? Another idea is to call your phone company and other utility providers and ask about discounts. You may need to make some lifestyle and budgeting adjustments in order to get on your way to your dream home.


Use Gifts Wisely


Did you get a big Christmas bonus from work? Did a relative give you a monetary gift for your birthday? Take all of the extra cash and stash it away in the account thatís dedicated to your home savings. It will only help you to achieve your goals faster.


Keep Your Accounts Stable


Before your loan can close and the keys to your dream home are yours, youíll need to make sure you donít make any significant purchases. You need a paper trail for all of your money. Before you buy a home is not the time to go nuts and buy furniture or buy a car. These things can affect both your credit and debt-to-income-ratio.   

      





Categories: Uncategorized