I encourage any residential real estate question(s) and will provide feedback in a timely manner. Please fill out form at the bottom of page with a question or topic you would like insight on. See questions submitted with responses below.
Richard Asks: “How does one determine a price of a house that is for sale?”
Kevin Answers: “One misconception buyer’s sometimes believe that the listing price is an accurate reflection of what the house is worth. Also, recent sale prices in an area are more reliable than the appraised value because the last three to six months of sold houses in one section of town gives one a more current view of what buyer’s will pay for a property. For an investment property discovering what rental income is in an area can help with what price makes it appealing for an investor because a properties value is driven by the income it produces and return on investment.”
Marc Asks: “Why should I use a real estate agent? Would I save money if I did this myself?”
Kevin Answers: “A competent real estate agent is of a great value because they are current with real estate trends and understand what a properties true value is by the simple fact that the agent is constantly viewing and analyzing homes on a daily basis. Even the president of the United States has advisors to help make the most important decisions so why shouldn’t you?
Danielle Asks: “I am first time home buyer (or I will be soon, fingers crossed). Where do I begin? If I am looking at a price range of 300K, what should I expect to end up paying in total?”
Kevin Answers: “The first thing a first time home buyer (and all buyers should do!) is get pre-approved. By giving a bank your financial information they will be able to determine what you will be qualified to buy a home for. It is difficult for a buyer to know what they will be able to afford and that is why it is important to have a bank or a qualified lending institution run the numbers and come up with a price range that is most suitable for you. What one expects to pay is dependent upon the following items: interest rate, down payment, closing costs, and other relevant costs.”