Buying a FSBO? 4 Things You Need to Know
Here are some points to keep in mind when you’re looking at a home for sale by owner:
Most sellers will work with your agent
Buyer’s agents act as advisers through the ups and downs of the Joint Base home search. If a FSBO opportunity crosses your path, ask your agent to make the first contact. Most likely they can still work for you and get paid for their efforts.FSBO’s are personal
The main thing to keep in mind is that you will meet and see the owner face to face. A home sale is more emotional and personal than, say, the sale of a used car or a piece of furniture. As such, seeing the owner might make you uncomfortable.
Try to get past it and keep your eye on the prize: your dream home. Leverage your agent, and be ready to ask for time alone in the home if you need it.Laws still apply
If the law stipulates that the seller has a duty to disclose problems, inspect the home, or perform any repairs, the FSBO must cooperate.
The biggest problem some sellers have with going solo is that they aren’t familiar with real estate processes or procedures. Or they want to do it their own way.
Trust your gut and your agent’s judgment if you think the seller is neglecting a duty or not allowing you to do your due diligence.Pricing may be off
Homeowners who list their home themselves tend to share one thing in common: They reject local agents’ opinions about their home’s value. Sellers (FSBO or not) who are unable to emotionally detach from a home or who don’t have a solid plan post-closing sometimes self-sabotage their sale by overpricing.
These sellers typically meet with local agents before they list. But they don’t like the agent’s pricing strategy and want to give it a stab on their own.
Tips to Tackle Long Distance Joint Base House-Hunting Successfully
Do your homework
The internet is the best resource you have to do the research about schools, and shopping centers in the Joint Base Charleston area. And it is crucial to hire a Realtor you trust. With a long-distance search, the agent can make or break the experience. We are very familiar with the city, neighborhood, prices, and are excited to help you through this process.
Have a travel budget
Plan a house-hunting trip that’s at least four to five days long, so you’re not cramming in tons of showings that you won’t remember at the end of the day. Long-distance house hunters should also be prepared for last-minute travel.
Know what you want
When you’re in the market for a home, you should always have a running list of features you want, but it’s especially crucial when you’re buying from a distance.
Knowing exactly what you want out of a house and location allows your agent to help you narrow down neighborhoods and homes more easily, and assist you in making an offer quickly, which is especially important in a fast-moving market.
Overcome remote home-buyer jitters
Renting for a few months could be an option, but we are here to make the process smooth, and provide you with our professional advice. *information for Zillow Porchlight
3 Common Mistakes to Avoid When Buying Your Joint Base Charleston Home
Here are three predicaments first-time home buyers may encounter along the purchase journey:
5 Reasons To Use a Buyer’s Agent When Buying New Construction in the Joint Base Charleston Area
Your agent can rely on their own experience and that of their colleagues to help you find a builder you can trust.
The timeline for purchasing new construction is typically quite a bit longer than buying an existing home. From the first time you visit the sales center, to choosing your layout, construction, inspections, and finally closing, there are ample opportunities for things to go sideways — think construction delays, permit issues, and financing concerns.
Even if you’ve purchased a home before, the contract for new construction is a whole different animal, and an experienced agent can help you make sure you understand everything, from floor plans to earnest money requirements, deadlines for requesting changes, and timelines for completion.
Buyers’ agents know the areas where you’ll find the most wiggle room when it comes to negotiations.
Builders will offer you endless options for finishes and upgrades, and it’s easy to get overwhelmed.
Even though a friendly sales representative will greet you with a smile the moment you walk through the door of the sales center, don’t forget that they work for the builder. Bring your own agent with you starting with your first visit — in fact, many builders require your agent to register with them from the very beginning in order for them to be involved in the process and receive their commission.
With a professional you trust by your side, you’ll rest easy knowing someone is there to protect your money, your time, and your new home.
*Information from Zillow Porchlight.
How to Buy Your Next Joint Base Charleston Home, Courtesy of the IRS
Turn your tax refund into home ownership! Here is how to buy a house with some help from your tax refund.
1. Check your credit report. For the most accurate credit score, check with Equifax, Experian, or TransUnion.
2. File your taxes as early as possible. When it comes to getting a refund sooner, processing times for tax returns are typically shorter if you can avoid the rush of last minute filers. If you receive any refund at all, the general principle still stands. That refund can be the cornerstone of your down payment savings.
3. Budget. Look at your income and expenses to determine two things. The first is how much you can save each month in your current situation. And second, determine how much of a monthly mortgage payment your income will bear.
4. Compare quotes from multiple lenders. Shop mortgage lenders and get pre-approved.
5. Start house hunting with your agent. We are here to guide you through the remainder of the home buying process. This is the fun part! Don't wait another day to start looking for your next home.
4 Reasons to Buy Your Joint Base Charleston Home This Fall
1. Prices Will Continue to Rise
CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.4% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects home values to appreciate by more than 3.5% a year for the next 5 years.
The bottom in home prices has come and gone. Joint Base Charleston home values will continue to appreciate for years. Waiting no longer makes sense.
2. Mortgage Interest Rates Remain at Historic Lows
Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained at or below 3.5% for 13 consecutive weeks. The Mortgage Bankers Association, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
Any increase in rates will impact YOUR monthly mortgage payment. A year from now, the percentage of your income that you spend on housing will increase substantially if you choose to wait.
3. Either Way You Are Paying a Mortgage
Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage - either your mortgage or your landlord’s.
4. It’s Time to Move on with Your Life
The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.
8 Things To Keep In Mind Before Buying Your First Joint Base Charleston Home
3 Reasons to Sell Your Joint Base Charleston Home Now
Thinking about selling
your Joint Base Charleston home? Here are 3 reasons why you should now:
1. Inventory is low: Supply and demand is
always in control in a marketplace unless there is undue interference by
government. Inventories of both new and existing homes for sale are low right
now. Low supply usually creates upward pressure on prices. Many studies and
surveys are also showing that buyers are returning to the market, though more
of a stream than a river of demand. However, combine low inventory and
increasing demand, and you may get more for your home than you think. We are here to help you figure out what price
tag to put on your Joint Base home.
2. Mortgage rates are
low: Whether you believe that mortgage rates are going up soon or not,
many would-be buyers are concerned that they will lose buying power if they
wait too long. It helps sellers when buyers can afford more home due to low
mortgage rates. There’s the other side of this coin as well. If you sell now
with the plan to buy right away, you’re getting the same low interest rate
advantage. The money you take away from your sale, though possibly somewhat
lower than if you wait a while, will go farther in financing another Joint Base home.
3. Some markets
scream sell: If you own in an established area with a history of
stability and high demand, it makes a difference. Charleston could not be a
better example of this. Real estate is local, and
while national influences bear on prices, the right location can make a major
difference in your cash out on a sale. On average 48 people move to Charleston
daily. Can you blame them?
Jodie Ford – Charleston Air Force Base, SC Real Estate For Sale
I specialize in helping military families enjoy a smooth PCS in and out of Charleston Air Force Base, South Carolina. I have a passion for helping people, and I love what I do. Call me (843) 410-8014 and let me make this the easiest PCS yet!