Weekly Popular Homes For Sale
Here are the top 3 popular homes for sale this week in Alaska! Maybe you are in the market for purchasing a new home, or a investment property? And I of course am more than happy to help you find that perfect home – but to help make the search for your new home easier, I’ll post a weekly update of the homes on the market that seem to be getting the most website traffic! So here is the Top 3 Popular Homes for Sale on the Market. If you would like more information or to discuss buying these homes, contact me! I am ready to help! 9010 King David Dr Anchorage, AK MLS#20-12024 A beautiful 4 bedroom 2.5 bathroom home. 10000 Hillside Drive Anchorage, AK MLS#20-3590 Stunning 5 bedroom 6.5 bathroom home. 3465 E Naomi Avenue Wasilla, AK MLS# 20-16447 Beautifully Crafted 6 bedroom 4.5 bathroom home.
Did You Remember to Budget for Closing Costs?
Buying a home is one of the largest financial transactions most people make in a lifetime. In addition to saving for the down payment, there are many other costs associated with buying a home; home inspections, appraisals and escrow fees are considered closing costs and are out of pocket costs to both buyers and seller. If you are financing the home, then there are additional lender fees to consider as well. The Basics of Closing Costs Closing costs are typically out of pocket costs associated with buying, or selling, a home. Some loan programs will allow you to “finance” most of these costs by adding the cost to the loan balance, but it’s important to remember that the home must still appraise for the additional value and not all programs allow you to do this. It’s better to plan for the extra cost which can range from 3-7% of the home’s purchase price. Typical Closing Costs The full list of closing costs involved in your specific transaction while be outlined on a form called the Good Faith Estimate (GFE). This will be provided once you have entered the settlement/escrow period. It will disclose costs associated with concluding the transaction. You can expect to see items related to loan fees and costs, appraisal, title insurance and transfer fees, processing and recording fees, hazard insurance and property tax costs among many others. If you are considering a home purchase, it’s time to speak with a local lender to get a full understanding of the costs associated with buying a home. In this way, you can ensure you have saved what you need to close on your dream home.
Getting Outbid? Strategies to Make Your Offer Stand Out and Get Accepted
Summer is traditionally a busy time for buyers and sellers. This year has been no exception—and with lower interest rates, many homebuyers are finding the competitive environment challenging. With multiple buyers competing for properties, even terrific offers are often being outbid. Fortunately, there are some things you can do to make your offer more attractive to the sellers and increase the chances of getting the property. • Have Full Pre-Approval – A step beyond pre-qualification, a pre-approval involves submitting your full application to underwriting. Your lender will collect all your financial data and submit for review. This is stronger than a pre-qualification; a pre-approval requires the buyer to provide the proof of their ability to qualify for the loan. • Increase the Earnest Money – Earnest money is the deposit held in escrow. While the contract will dictate how monies are disbursed in the event of a cancellation, increasing the amount offered can show the seller you’re serious. • Add an Escalation Clause – In a bidding war, it can be difficult to know what to offer because you want to outbid the competition without going too high. An escalation clause is one way to automatically outbid the others. The clause typically offers an amount—$1,000 for example—higher than any verifiable offer up to a specific amount. This can ensure yours is the highest offer. • Pay any Appraisal Shortage – When offering more than asking price, sellers become concerned about the appraisal coming in too low. If you are willing to pay over market value, include the amount of shortage you are willing to pay. • Remove Inspection Contingency – This option can be tricky, but if you are planning a large remodel or are willing to tackle any defects found, then you can make your offer stronger by accepting the home as-is. In this fast-moving, competitive real estate market, it is important to make your offer stand out from the crowd. These strategies are great ways to demonstrate to the sellers that you are serious about buying their home, increasing the chance of having your offer accepted.
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