Tip For Buyers – Considering New Construction?

Thinking of building a custom home or looking at new home communities? You may think you don’t need a Realtor and that a middleman might drive up the costs. You may be thinking you know exactly what you want in a new home and how to go about getting it. But there’s so much to consider and a Realtor can assist you along the way.

A knowledgeable Realtor can help you with location and lot selection, choosing a builder, solving design challenges, developing the contract and selecting financing. And you may not realize this, but there is no extra charge for the Realtor’s expertise. Builders usually have a marketing fee built into the home price so that their neighborhood homes are equally priced and so that they have Realtor support and the repeat business they bring. In fact, you may actually be paying a hidden fee for the services of a Realtor, but not receiving all the benefits of Realtor involvement.

Location, Location, Location

We know the region’s housing locations better than anyone as a result of spending hours comparing neighborhoods and homes. Our expertise will assist you in selecting areas that best suit your needs and wants.

You can build the most wonderful home in the world, but if it’s in the wrong location, you may not be able to enjoy it or see full appreciation value in its. We can best ascertain how a home will fit into a particular neighborhood considering factors such as price, design and how the home will be situated on the chosen lot.

Don’t Make Design Mistakes

Even though we are not decorators or designers, we are aware of what is popular in the current marketplace. With our guidance, you may prevent a design error that would cost you future appreciation and end in resale problems.

We spends so much time viewing homes, new and resale, and can offer valid recommendations about which floor plans are best suited to your specific needs or lifestyles. We could also take you to view some existing homes with similar floor plans so you can visualize how the home would look upon completion.

Choosing A Builder

One of the most important benefits of consulting a Realtor in this process is to make sure you select the right builder for your needs and then help to monitor and select the subcontractors that the builder uses. It is imperative to know the reputation of the builder and the satisfaction of past clients.

While a builder deserves to make a fair profit, there may be a need to obtain a second price. If that need arises, we can assist you in comparing apples to apples and specific details of the home. Details and Contract Assistance: Having a Realtor involved during plan speculation and pricing will ensure that the proposed home will be priced competitively . The builder will price the home and its components knowing that your Realtor, understands fair cost. The presence will also help prevent miscommunication and disagreements with the builder. We can help ensure that proper plans are drawn, comprehensive specs are presented and written change orders, after the contract, are signed. Stipulation against mechanics leans and proper attorney representation will prevent legal hassles or disappointments that may occur if proper precautions are not taken.

Financing

We can help you obtain the proper construction financing. If during construction, a new construction financing product becomes available, that change can be made because we deal with financing on a daily basis and know what is currently available. One of the major efforts we can coordinate is the sale of your current home, if one exists, while the new home is being completed. It is very beneficial to have us early in the process put together a marketing plan that will help sell your home and prevent you from having to move twice. To those who have not done it before, building a new home seems easy. Experienced new homebuyers know the importance of involving a Realtor. If you are considering building a home in the future or buying into a new home community, be careful. Be smart and use a Realtor.

Tip for Buyers – Advice on Buying Your Next Home

Here are some steps you need to take in order to buy your next home…

Get pre-qualified/pre-approved so you will know the range of homes you qualify for ahead of time and can avoid unnecessary frustration.

Start the home-buying process early and understand the parameters of your current lease (the amount of notice you must give) and back out lead times to ensure you allow enough time for the process.

Recognize that in most cases, you probably won’t get everything you want in a first home. Make prudent decisions to maximize appreciation, which will help you make that dream house a reality in the future.

Be sure the heat/AC systems, roof and structure are in good shape so you can concentrate on cosmetic improvements where you will obtain a better return on your investment.

Challenge yourself to keep an open mind about the type of home you purchase. Condo vs. single family home – look at the different available options and don’t discount one over the other (e.g. “I wouldn’t live in an attached home.”).The reality is the appreciation of the attached home may be greater and may help you reach the goal of the dream home faster.

Make sure the home has a warranty. You don’t need surprises. If a warranty is not provided, buy one.

Consult an accountant to determine the tax implications of home buying. Once you have a better idea of what is deductible (points, interest, etc.), it may improve the affordability of the home.

Know the history of the area you are considering. I will do an analysis of the neighborhood and the appreciation of homes there.

Look at documents, history and need for any special assessment in the neighborhood.

Please let contact us if you have any questions or if we can assist with any of the above information.

Open House This Sunday – 13 Foxwood Knoll

Hey everyone, we’ve got an open house going on this Sunday, August 1, from 2-5 at 13 Foxwood Knoll in Blythewood, SC. We would love to see you out there! This really is an incredible house. So if you are either in the market to buy a house, or you just want to come check out a really neat house, then come on by between 2 and 5!

Low Mortgage Rates Have Yet to Fuel Home Sales

Here is an interesting article looking at the recent national trend with mortgage rates. Overall the mortgage rates still remain the lowest on record, and yet home sales still remain low.

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Mortgage rates for 30-year fixed loans were unchanged this week at the lowest point in decades, but it hasn’t been enough to jump-start the housing market. Government-sponsored mortgage buyer Freddie Mac said Thursday that the average 30-year fixed rate was 4.57 percent. That’s the same as a week earlier, and the lowest since Freddie Mac began tracking rates in 1971. The last time home loan rates were lower was the 1950s, when most mortgages lasted 20 or 25 years.

Rates on 15-year fixed-rate mortgages decreased to an average of 4.06 percent, down from 4.07 percent last week. Rates on five-year adjustable-rate mortgages averaged 3.85 percent, up from 3.75 percent. Rates on one-year ARMs fell to an average of 3.74 percent from 3.75 percent. This week’s average is the lowest the one-year ARM has been since Freddie Mac began following it in 1984. The rates do not include add-on fees known as points. One point is equal to 1 percent of the total loan amount. The nationwide fee for all types of loans in Freddie Mac’s survey averaged 0.7 points. Rates have fallen since the spring. Investors, concerned with the European debt crisis, have poured money into the safety of Treasury bonds. Treasury yields have fallen and so have mortgage rates, which tend to track yields on U.S. debt. But low rates have yet to fuel home sales and have sparked only a modest increase in refinancing.

Mortgage applications dropped last week as requests for purchase financing declined 3.1 percent to the lowest level in more than 13 years, the Mortgage Bankers Association said Wednesday. An index measuring refinancing fell 2.9 percent, the MBA said. Rates could go lower and still not budge the housing market, analysts say. That’s because a person without a job can’t afford a home; a person worried about losing a job is unlikely to buy one, either. To calculate the national average, Freddie Mac collects mortgage rates Monday through Wednesday from lenders around the country. Rates often fluctuate significantly, even within a given day.

110 Luden Court Under Contract

110 Luden Court Under Contract!

That’s right, as of Wednesday, July 7, 110 Luden Court went under contract! This house was great! It is a patio home located in Lexington, SC. The home is 1,300 square feet, with 2 bedrooms and 2 full bathrooms. The vaulted ceilings, large bedrooms, open layout, gorgeous backyard, and community reflecting pond are all great features about this home. But the one that really sets this home above the rest of the other patio homes in this neighborhood is the large sunroom addition on the back of the house. This sunroom not only made this house bigger than the rest, but it features windows across the back which provides great views of the back yard.

But, as already stated, this house is now under contract and off the market! But don’t fret! If you, or someone you know, are looking for either a home in Lexington and/or a patio home, the perfect one is still out there waiting for you! And we would love to help you find it! OR, do you have a house that you are trying to sell? Well, as you can see, we’ve successfully sold this one, so why not give us a try? Visit our “Why List with the Mather Company” page to see the many benefits of having us sell your home!

Please contact us if we can help!

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