Classified Realty Group



Posted by Classified Realty Group on 3/12/2019

For most homeowners, a home is not just a property with four walls and a roof over their head. Over time, it becomes a place that reminds them of sweet memories spent with family and friends. Buying a home is expensive, and as a result, it is essential that you relegate any form of emotions and apply business-minded strategies in making good decisions. With this in mind, here are some costly emotional mistakes home buyers make and how you can avoid making them.

Falling in love too quickly

Buying a home can play with your emotions. But you must balance your dreams with the realities of your budget. Turn a deaf ear when the agent tells you "Oh, this house was made for you," or "It suits you perfectly," Focus on what you want in terms of space, location, maintenance, and the price. If you are buying a house, buy the one you need rather than what you want.

Allowing others to "steer" the process 

Agents and family members can be assertive in attempting to "tell" you what home to buy. What's more, friends who won't even live in the house will aggressively offer opinions about the subject. In an attempt to please others, some homeowners get highly emotional and buy a house they never liked. It is your house, and you will be the one living in it. Friends and loved ones only visit. So put yourself in charge of the buying process. 

Overpaying for a property 

Another common emotional mistake homebuyers make is paying too much for a property. Buyers—especially new ones—always tend to become desperate to buy a house or buy a house in a popular area, and most time, they end up paying far too much for the property. To avoid overpaying for a home, keep your emotional side locked and check the prices of similar houses in the area to avoid being ripped off. 

Putting the pen on paper too soon 

Generally, before you purchase a house, you need to sign a contract and pay a deposit. However, don't get too excited and sign the contract immediately you make the decision. Take your time to read through every line of the agreement. Also, get a seasoned lawyer or property professional to guide you, to ensure your interest comes first and insert any needed clauses. It is tough to make changes once you sign a contract.

Although buying a house can be an emotional experience, it is also an exciting time. Avoiding emotional mistakes, doing your research and keeping a calm head should help you to get a good home that meets all your needs.




Categories: Real estate   homebuyers   buying tips  


Posted by Classified Realty Group on 1/8/2019

If you plan to pursue your dream house, it generally helps to evaluate housing market data. In fact, there are many reasons why homebuyers should assess real estate market data, and these include:

1. You can learn about mortgage interest rates.

Mortgage interest rates rise and fall frequently. As a homebuyer, you'll want to do everything you can to identify the lowest-available mortgage interest rates. And if you study the housing market, you may be better equipped than ever before to do just that.

In addition, it often helps to meet with banks and credit unions. These financial institutions can help you track mortgage interest rates and provide you with mortgage insights that you may struggle to obtain elsewhere. Plus, banks and credit unions can help you get pre-approved for a mortgage and ensure that you have finances in hand when you pursue your dream residence.

2. You can reduce the risk of spending too much to acquire your ideal house.

Let's face it – you want to buy your dream house, but you don't want to break the bank to do so. Fortunately, if you understand housing market data, you may be able to avoid the temptation to overspend on a house.

Examine the prices of available houses and recently sold homes in areas where you want to live. By doing so, you can establish a price range for your dream residence and find out whether you're preparing to enter a buyer's or seller's market.

3. You can quickly and effortlessly navigate the homebuying journey.

The homebuying journey may prove to be long and complicated, especially for those who fail to prepare for it. Luckily, housing market data can give you a better idea about what to expect as soon as you kick off your search for your ideal house. Then, you can use this information to identify and address potential homebuying hurdles faster than ever before.

For those who are unsure about how to collect and analyze housing market data, there is no need to stress. If you collaborate with a real estate agent, you can get the help the you need to discover your dream house.

A real estate agent can provide you with the right housing market data, at the right time, every time. He or she also will allocate the necessary time and resources to explain the importance of assorted housing market data and paint a picture of the current state of the real estate sector. That way, you can take a data-driven approach to buying a house.

Perhaps best of all, a real estate agent is available to take the guesswork out of the homebuying journey. This housing market professional will keep you up to date about new houses as they become available and ensure that you can find a terrific house that matches your budget.

Ready to make your homeownership dream come true? Use real estate market data, and you can become an expert homebuyer in no time at all.




Categories: Buying a Home   Real estate  


Posted by Classified Realty Group on 11/24/2015

When you walk into an open house and see the home you want to buy, before you start working with the seller's agent, you need to understand who that agent is working for. Many buyers do not understand that the seller's agent has a fiduciary duty or a duty of loyalty to the homeowner. While agency laws differ from state to state they have the same general principles: Typically an agent represents either the buyer or the seller. However, in some cases an agent will assume the role of a dual agent (representing both the seller and the buyer). Make sure to check the agency laws specific to your state, but in general agents fall into these categories: Seller's Agent: A seller's agent works for the real estate company that lists and markets the property for the seller, exclusively representing the interest of the seller. Buyer's Agent: Some states may have written agreements regarding buyer agency. A buyer agent assists the buyer in evaluating properties, preparing offers, and negotiating in the best interest of the buyer. Dual Agency: Dual agency occurs when the buyer's agent and the seller's agent are the same person or company (depending on state law). Dual agents do not act exclusively in the interests of either the seller or buyer. Dual agents cannot offer undivided loyalty to either party. A conflict of interest can arise because the interests of the seller and buyer may be different or adverse. A buyer and seller must agree to dual agency. Always ask your real estate agent about the agency laws in your state. Many states require buyers and sellers to sign a disclosure form at the first meeting between the agent and potential client.





Posted by Classified Realty Group on 8/30/2015

Housing prices are low, rates are low but how can you buy a house when your funds are also low?  How can you save money for a house while prices and rates are still good? Saving for a home can be different than just saving because you have save such a large amount of money and you don't know exactly how much you'll need.  Here are some strategies on how to save up: 1. Start with small goals. Try saving for closing costs or another smaller amount and then add another goal. Break the down payment into 3%, 5%, 10%, and 20% levels, to help make the savings goal more achievable. 2. Try saving a specific amount of money every month. Instead of saying I want to save $6,000 a year it is easier to say I will save $500 a month. Smaller, more achievable milestones are always good motivators to savings. 3. Ask for help. If people ask what to give you a gift for your wedding, birthday etc. ask them to contribute to your home savings plan. Online sites like SmartyPig make it easy to get other people involved in your savings goals. 4. Create a visual goal graphic. Create a vision board or some kind of graphic that represents what you are saving for. It always helps to see what you are saving for and have a constant reminder. Hopefully, you'll be on your way to a new home in no time.





Posted by Classified Realty Group on 8/25/2015

Many people think seven is a lucky number but if you are looking to get the most bang for your buck the number you want in your address is an eight. According to a study done by the University of British Columbia, houses and street numbers ending in eight sold at a 2.5 per cent higher rate than homes and street numbers ending with any other digits. In fact, the study also found homes and street numbers ending in four sold at a 2.2 per cent discount. House numbers have recently become more important with the influx of Chinese buyers in the marketplace and the increasing popularity of Feng Shui. Numbers that sound similar to Chinese words that have positive meanings are believed to be lucky. The number eight sounds similar to the word for prosper or wealth. The fear of the number four, or tetraphobia, is because the pronunciation of the word for four is similar to the word for death in Mandarin, Cantonese and several Chinese dialects. Thinking of rolling the dice on the number 13? Many large casino hotels in Las Vegas omit floor numbers 4, 14, 24, 34 and 40 to 49. The number 13 is not however, considered unlucky in the Chinese tradition. Other numbers with perceived good luck are two, three, five and seven. Two because of the Chinese saying good things come in pairs. The number three sounds similar to birth and the number five is associated with the five elements (water, wood, fire, earth and metal). Considered the luckiest number in the West, 7 symbolizes togetherness. Even though house numbers may influence a buying decision there is no evidence to support actual bad or good luck in homes with certain numbers. The thought of good or bad luck has more to do with the psychology of people than actual events.