SEPTEMBER 2021 NEWSLETTER

Wednesday Sep 08th, 2021

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It’s no secret we’re currently in a hot real estate market. Whether you’re looking to buy but concerns about credit impacting a home purchase are keeping you up at night, or if you’re looking to sell but are thinking about the number of repairs your home will need--there are options to help you reach your goals. Plus, three end of summer maintenance items you should be checking off  your list before cooler weather approaches.

3 Easy End-of-Summer Maintenance Tips to Set You Up for Success

End of summer is the perfect time to begin prepping your home for the cooler, and often more harsh, months to come. Here are three end-of-summer maintenance items you should have on your to-do list heading into fall.

Get Pests Under Control
Before hunkering down you’ll want to make sure you’re the only one living in your home, get pests under control by sealing any entryway cracks or holes and deep clean any areas that have had the full summer to accumulate moisture and pest-attracting residue.

Check Your Weatherproofing
Cooler months can sometimes bring harsh and unforgiving weather conditions. From torrential fall downpours, to unforgiving blizzards, checking your home for any leaks, missing weather stripping, and holes in insulation will save you the headache later if a problem arises.

Tend to Your Yard and Landscaping
Early fall is not only the best time to set yourself up for spring success when it comes to a healthy yard, but also is a good time to deal with any lingering debris that could potentially become a hazard during inclement weather.

Can I Buy a House With Bad Credit?

With the state of today’s economy many consumers are asking themselves if they can financially make the leap to homeownership. While there may be a little legwork upfront, there are absolutely ways to purchase a home even if you have bad credit. Some of these options may require a bit of research on your end, but the payoff of owning a home is worth the extra work. Here are a few things to consider if looking for a new home with bad credit:

FHA Loan Requirements
Before taking out a mortgage it’s important to know what the FHA loan requirements are and whether you qualify for FHA-insured financing.

Government-based Programs
If your credit score is below 500, there are government programs you may qualify for that are not tied to a minimum credit score. Make sure to check with an expert when identifying any programs that may work for you.

First-time Buyer Options
If you’re a first-time homebuyer you may have a few more options if buying a home with bad credit. Whether in the form of a grant, credit, or loan many of these vehicles have stipulations that warrant research on your behalf. Whether researching programs with qualifying professions (such as veterans), or checking individual state programs, there are many options for people looking to buy their first home.

Buy All Cash
In a seller’s market where there are competitive offers, cash is king. If you have poor credit but plenty of savings, this may be the option for you.

It’s important whichever avenue you explore that a knowledgeable mortgage professional is a part of your real estate team.

How to Sell Your Home When Major Repairs are Needed

If you’ve owned your home for five years or more, or if you’ve been putting off maintenance tasks, it’s time to get serious. Not all repairs are created equal and some may take a financial commitment. It’s time to ask yourself what are your goals? Some repairs can be paid for with an equity line of credit that is paid off at closing. For repairs you absolutely can’t afford to fix, you have three options:

1. Get repair estimates from local contractors. Proceed with selling as planned and disclose problems as required by law. Should the issues surface in the buyer’s inspection, be prepared to fix them before closing or lower the sales price.

2. Make the minor, inexpensive repairs, then get an appraisal to determine your home’s market value. List your house at that value, minus the cost of repairing any potential deal breakers your agent has identified.Sell your house “as is.”

3. Don’t make any repairs or improvements, but price your home a good deal lower than its actual value to reflect the home’s condition.

 

 

 
 
 
 
 
 
 
 

 


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