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If buying a home is part of your plan for 2023, there are some simple things you can do before you really start home shopping. These items are not part of the formal home buying process but will ensure you are prepared when the time comes.

1. Check your credit score. Even if you always pay everything on time, there may be something on your credit score you don’t know about. Don’t leave this to chance because it is a very important piece of the process if you will be getting a mortgage. When you check your credit report, review it for any errors or accounts you were unaware of. If you will be getting a joint mortgage with another person, make sure you check both of your credit reports. There may be something you forgot about from the past or even mistakes that you can get corrected if you know about them before the last minute.

2. Find a professional real estate agent to look out for your best interests and guide you through the home buying process. People work with real estate agents for a variety of reasons. Maybe you drove by a house you liked and called the person on the sign, found someone when you were browsing online or have a friend that sells real estate. While none of these are the wrong way to find a real estate agent, they may not provide you with the best agent for you. Think about it this way, if you needed a cardiologist, would you just call the person on the sign or would you research your options and pick the one with the best experience and knowledge to help you with your condition? Real estate is no different. All agents aren’t created equal. A good way to find a agent is to talk with friends or coworkers and ask who they have used. If they were happy with their experience, call that agent and talk to them about your needs. Make sure they know the area you are interested in well and have the experience you need to help you should any problems arise. This is not a one size fits all business so make sure the agent you choose has the best approach for you.

3. Start cleaning out stuff. If you are buying a new home, you will be moving soon and do you really need to move boxes of things that you will never use. If you are holding on to things that you don’t use anymore, now is the time to purge. This doesn’t mean you have to get rid of everything but if you are holding onto things you haven’t touched in years, let them go.

Once you are ready to officially start your home search, there will be many more things you need to accomplish. The agent you select will guide you through this process so you can achieve your goal of purchasing a home in 2023. Contact me today at 817.690.0976, I would be happy to answer any questions you have about finding your dream home!

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy of cafecredit.com/flickr

When you are purchasing a home, there’s a lot to think about and it is easy to overlook something if you don’t do your research in advance. One thing you may not be prepared for are the closing costs that come along with a home purchase.

If you are getting a mortgage when you buy a home, the mortgage will only pay for the home itself minus your down payment. There are still other expenses you will incur during the homebuying process that will need to be paid. They can add up quickly but as long as you are planning for them from day one, they won’t derail your road to homeownership.

Closing costs is a group of expenses you will likely incur between contract and closing on your new home. Many of them are rather small, thought they add up to much more, but you still need to be prepared. Some of the items you can expect to incur costs for while you are under contract to purchase a home are a credit report, loan origination fees, legal fees, inspections, appraisal, title search, title insurance and recording fees. Don’t neglect to consider closings costs if you are paying cash for your home either. Some expenses don’t apply when paying cash for a home but many still do.

If you are getting a mortgage to buy the home, you can expect to receive a loan estimate from your lender within three days of applying for your loan. This estimate will outline the expenses you will incur while purchasing a home including your interest rate, monthly payment, tax and insurance estimates and closing costs. You can also rely on your real estate agent to educate you on some of the closing costs you will incur.

In some price ranges and certain markets, it is common to see buyers ask the sellers to help pay for closing costs and sometimes the sellers even offer to pay all or part of your closing costs as a marketing tool when they list their home. Remember that little in life is free and this is no exception. While the seller may agree to pay your closing costs, they are just adding this amount to the purchase price of the home. That doesn’t mean it’s a bad thing. If you don’t have the necessary cash to cover your closing costs in addition to your down payment, having the seller cover this item can be a great thing. Contact me today at 817.690.0976, I would be happy to answer any questions you have about finding your dream home!

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy of alexanderstein/pixabay.com

Do you ever need to know when something specific has arrived in your mail? The United States Postal Service has created a new service to help you know exactly what is arriving in your mailbox and when by providing you daily scanned images of your incoming mail.

Start by visiting the Informed Delivery® website to confirm the service is available in your area then create an account and verify your identity. Once you have signed yourself up you will receive daily emails or text notifications, or you may login to your USPS dashboard to view the images of your incoming mail. Images are only provided for letter-sized mail items that are processed through the automated mail equipment, so you likely won’t know everything that is coming but you will receive previews of many items.

It is also possible to get information regarding packages that are on their way to you. Package information is not provided as scanned images but as key package details including a tracking number, shipper’s name and estimated arrival date.

Receiving this image in advance also enables you to update delivery instructions or reschedule delivery if you would like to. If you expect to receive a package and you will not be there at the anticipated delivery time, you may adjust the delivery instructions. Likewise, if you miss delivery of a package, you may reschedule delivery, so you can make arrangements to be there.

This service won’t show you everything that will be waiting in your mailbox because of processing limitations but will likely provide you a good idea of what to expect and help you make arrangements if needed when you can’t be there. Because this is a very new service, there are likely to be many questions and the USPS has answered many questions here.

If you travel frequently, this will be a great way to keep up with your mail when you are away without having to rely on a neighbor or friend to give you updates. If you sign up for the service today, you should start receiving notifications within a few days. What do you think of this service? Do you plan to try it?

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy of heungsoon/pixabay.com

Overall, in 2022, we were in a seller’s market meaning there were more buyers searching for homes than there were homes available to sell. Because of this, there is still some pent-up demand as we head into the spring market. As homes begin to hit the market for the busy spring season, homes that are priced competitively and in good condition are likely to sell very quickly.

If you are in the market to purchase a new home in the coming months, you will want to be prepared so you can act quickly when you find the perfect home. Here are some things you can do now to help you be ready when the time is right.

• Meet with several mortgage lenders and select the one that can provide you the best mortgage terms for your situation. Once you select the mortgage lender that is best for you, go ahead and get preapproved. When you find your dream home, providing a copy of your preapproval letter along with your offer to purchase may help your offer stand out in case there are multiple buyers interested in the same property. Some sellers will require you to show a preapproval letter, which may enable you to move faster while other buyers are calling lenders and trying to figure out which mortgage is best for them.
• Once you are preapproved, it’s time to start looking at homes. Now that you have met with a lender, you can confidently look at homes knowing what you can afford. Before you actually look at any homes, make a list of your priorities to help you focus while you shop. It is very easy to get caught up in the process of looking for a home and fall in love with a beautiful home that doesn’t meet your needs. Things to consider are the number of bedrooms and bathrooms, amount of land, garage, style of home and the location. Having a specific list of criteria you are looking for will not only keep you from wasting time looking at homes that don’t meet your needs but also allow you to narrow down the selections when you are viewing homes.
• As soon as you start looking at homes, go ahead and ask your real estate agent for copies of the contracts you will need to complete when you find the right home for you. When you find the right home, you may need to act very quickly and familiarizing yourself with the contracts (and asking questions of your agent ahead of time) will allow you to move forward more quickly and with less stress when you find the house for you.
• Another thing to consider when preparing to buy a home is your overall household budget. Now is the time to get this in order not after you own the home. Just because a lender says you can have a mortgage for a certain amount doesn’t mean you have to spend that much money. Make sure your mortgage amount will fit into your overall budget along with the other items you allocate monthly funds too without leaving you feeling anxious each month.

Taking all of these steps in advance will make the homebuying process much faster and smoother for you. The most important thing you can do is ask questions and educate yourself so you can make good decisions when the time is right. Contact me today at 817.690.0976, I would be happy to answer any questions you have about finding your dream home!

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy of tkoch/pixabay.com

If you are thinking about buying your first home, you may be wondering how much money you need to have saved before you will be able to buy a home. There is a lot that you will need to determine before you can answer this question but the fact that you are thinking about it is a step in the right direction. A lot will be determined by the kind of mortgage you plan to get and this will be based on what you will qualify for. When you are ready to get really serious, you will definitely want to talk to a mortgage lender and probably more than one.

A lender will be able to ask you specific questions about your income, savings and other debt as well as take a look at your credit to help you determine the best kind of mortgage for you. Based on this conversation and the kind of house you are looking for, the lender will then help you determine how much money you will need to save for your down payment. In addition to having enough money for a down payment, you will also want to have additional savings for other expenses related to buying a home like insurance, closing costs and money for the unexpected after you buy your home.

Once you are a homeowner, when something breaks, you can’t call the landlord to fix it so you will need to have money set aside to use for repairs and maybe one day for making updates to your home. In addition to your down payment and savings for the unexpected, you will need additional funds when you buy your house to pay for closing costs. Closing costs include a lot of different things and can such as inspections, property taxes, insurance, homeowner’s association dues, title, recording fees and other items as well. All of these may seem like small things but can add up to thousands of dollars even if you are buying a small home.

Now that you know a little more about what you will need to pay for when you buy a house, it is time to reach out to a lender and discuss specifics. If you don’t know a mortgage lender, your bank can more than likely help you and I can offer recommendations of my favorite local lenders as well. Once you sit down with a lender to talk about your specific situation, you will have a much better idea of how much money you need to save and once you know that, you can develop a plan to help you reach that goal.

Saving enough money to buy your first home may take a while but it is definitely a goal that will be well worth it when you are able to move into your very own home. Contact me today at 817.690.0976, I would be happy to answer any questions you have about finding your dream home!

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy of nattanan23/pixabay.com

The thing about buying a home for the first time is pretty simple; it’s not always something tells you how to do or what to look out for. Which is fairly ironic given that home ownership is what the American Dream was initially founded upon.

So, we’re going to help you out a bit and show you eight things you absolutely have to know when you’re ready to purchase your first home.

1. Know your budget. Paying your mortgage is a bit different than paying rent. You now have to figure in escrow, applicable taxes, insurance, and homeowners’ association fees (location dependent). Make sure you’re choosing a house you can afford, because it can be stressful if you’re living “house poor.” It’s recommended you spend no more than 28 percent of your income on housing costs.
2. Find a well-informed, knowledgeable realtor that knows your area well. Knowing if an area is too high or about to fall can save you thousands of dollars. Moreover, knowing how home prices in the area are comparable to what you’re looking at will help you make a better, more informed decision. Check your local multiple listing service (MLS) with your realtor!
3. Prepare for closing costs, they could cost you a pretty penny. These costs include origination, title, and settlement fees, as well as taxes and prepaid items such as homeowners’ insurance or homeowners’ association fees.
4. Credit score matters. Just because you have a qualifying credit score, doesn’t mean you have the best score to help land you the best rate. You should start cleaning up your credit at least a year in advance of making a home purchase, just to make sure you’ve crossed your T’s and dotted your I’s when it comes to financial matters. Get your credit report and start combing through it before it’s too late.
5. Along with your credit score, it’s good to get all your paperwork in order. Get pay stubs, past W-2s and tax returns, bank statements, and previous address information ready because you’re going to need them. Lenders are going to want to see a lot of your personal stuff before they’ll give you a sizable loan.
6. Speaking of lenders, you should always get preapproved. This gives you more bargaining power when it comes to landing that house you just fell in love with.
7. The government has some programs to help. The Federal Housing Administration (FHA) has a program that insures mortgages for many first-time homebuyers. This will help sway those lenders to back you, and the FHA reduces most 10-20 percent down payments down to 3-3.5 percent. That’s a pocket full of help right there.
8. Make sure that home buying is the right choice at the right time. Contact me today at 817.690.0976, I would be happy to answer any questions you have about finding your dream home!

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

If you’re the type of person who likes to decorate for every holiday but you want to try something more grownup and modern, here are a few ideas to prepare your home for Halloween this year. Whether you’re expecting the neighborhood kids, hosting a grownup party or just want to get in the spirit, these suggestions are fun and easy to do. Plus, they make your home look festive to buyers if you’re selling.

White Pumpkins

Put a modern spin on the traditional pumpkin by painting it white. Regular craft paint or spray paint will work. Paint three or four pumpkins or gourds and arrange them together with pinecones and other fall items. This adds a sophisticated touch to your front porch or entry. You can also go with all black or all gold or mix it up with a pumpkin of each color.

Halloween Tree

Make your own variation of The Nightmare Before Christmas tree. Take a tree or just a branch and paint it black. Hang bats, pumpkins and other scary creatures from the branches. This makes a fun welcome by your front door, in an entry or even as the focal point for your living room.

Decorate in Black and White

Instead of the traditional orange and black colors for Halloween, use black and white for a more grownup look. White candles with black votives or white flowers in a black vase add an elegant touch to any table. Serve all black and white foods for your holiday party (or open house). A black and white striped tablecloth will draw attention and continue the theme.

To create an unforgettable centerpiece for your table, spread white spider webbing around candles and across the table. Place a silver tiered tray in the middle with gourds spray-painted black displayed on each tier. To make your design stand out even more, you can add a small touch of orange with a few strategically-placed items.

Halloween doesn’t have to be just for kids. If you love to decorate and change your décor based on the season, these ideas will create a fun yet sophisticated space that both you and your visitors will enjoy.

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy Joe deSousa/flickr.com

The following are the most common questions I receive from first-time home buyers. If you or anyone you know is planning to buy a home, contact me today. I will be happy to discuss any of this information in more detail…

1. I’m a first-time buyer, what is the best advice you can give me? Work with a trusted real estate agent. You need someone who has experience working with first-time buyers, and who keeps up with the latest information that could impact your home buying experience.
2. What do I need to do first? Getting pre-approved for a mortgage is first thing to take care of in the home buying process.
3. What about my credit score? In order to buy a home, you need a minimum score of 580. 620 and over is preferred by many lenders.
4. How much money is required for a down payment? This depends on your credit score and type of loan you choose. Your down payment could range from 3% to 20% down or more. Most lenders require at least 3%.
5. Are there any additional costs involved in buying a home? Yes, you will be responsible for closing costs and loan origination fees.
6. How long is the home buying process? Consult with your lender for thorough details, though typically it takes between 30-45 days.
7. Can you provide me with details on special loan programs? Absolutely! Contact me today and I will be happy to go over this information with you, and put you in touch with a lender.
8. What does a real estate agent do? Any number of things including researching homes on a daily basis to find your dream home, to coordinating with the seller’s agent, lender and more.
9. How much does a buyer have to pay a real estate agent? Nothing. That’s why it makes so much sense to work with an agent. Buying a home is free as it pertains to commissions.  
10. So when do I get the keys to the house? You will receive the keys at closing, and you can start enjoying your new dream home right away.

Contact me today at 817.690.0976 for a consultation. I will be happy to answer any questions you may have about the home buying process, and/or help you find your dream home!

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy of Mark Moz/Flickr.com

More sellers are now including home warranties with the sale of their homes to entice buyers. The idea is that having a home warranty provides peace of mind for the buyer that if something breaks – usually within the first year of ownership, they won’t have to pay for it. However, homeowners can purchase a home warranty at any time. Before you decide to buy one or include it with your sale, you should understand what it is and when you need it.

What is a Home Warranty?

A home warranty covers the components of a home, such as heating and cooling systems, appliances and water heaters. It usually doesn’t include minor repairs such as plumbing leaks. It can be purchased for any age home, though the cost will increase with older properties just because of the likelihood that you’ll use it more.

With some warranties, you pay only a set amount regardless of the cost of the repair or replacement. With other programs, you pay a portion or percentage of the cost. It’s important to read the fine print before you select a warranty. Know what is included and what can be added for an extra price.

The Benefits

For the buyer, a home warranty provides peace of mind. You know you won’t rack up hundreds of dollars in repairs or use up your emergency fund for major issues. Keep in mind that the cost of just one repair can be as much as the entire annual cost.

For the seller, a home warranty may bring in more buyers, especially if the person is selling an older home. First-time buyers don’t always have a lot of money to put into the property, and a warranty would reassure them they won’t have a lot of major expenses.

The Downside

You may pay into a warranty for years and never need to use it for repairs. This is money that is lost with no rewards. You’ll most often see this case with newer homes. You also don’t need a special home warranty on a recent build if it is still covered under the builder’s warranty. For example, most appliances come with a two- or five-year manufacturer’s warranty, so you wouldn’t need a separate home warranty.

In the end, the decision comes down to you and how prepared you feel you are to pay for unexpected expenses. It also depends on how old the home is you’re buying or if you will get more offers if you’re selling. Call me today, I would be more than happy to answer any questions you might have about the home buying process, Pam Snowden 817-690-0976.

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy American Advisors Group/flickr.com

One of the biggest expenses a homeowner has to deal with is roof repairs. If you own your home long enough, you will need to replace it with a new roof. Here are four signs it may be time to talk to a roofing expert about a brand new roof.

Age

While damage may be caused by storms, older roofs often need to be replaced rather than repaired. Depending on the type of roof you have, you may need to have it replaced after 20 or 25 years. Even though timely repairs can extend the life of your roof, in time the only option will be a new one.

Curling, Buckling or Missing Shingles

Take the time to inspect your roof. If you notice the shingles are curling or buckling or you see a significant number of missing shingles, it’s likely that your roof is at the end of its life. They get brittle as they dry out in the sun. Pay special attention to the valleys in the roof. Missing shingles in this area will lead to leaks, causing further damage to your home.

Shingle Granules

Notice the coloring of the shingles. If you see patches that are darker than other areas, it’s a sign the granules have worn away. This indicates the shingles have worn out and need replaced.

Soft Decking

Walk around on the roof. If you notice a bouncy feeling, it is an indication that the underlying decking material has gotten soft from moisture. Go into the attic and look for daylight in the roof or wetness in the insulation. This is a sign that there are leaks in your roof.

How to Tell If It is Time to Replace the Roof

Many times, these issues can be repaired rather than taking on the expense of replacement. However, if your roof is near the end of its life, you’ll only be putting a temporary bandage on the problem and delaying the inevitable.

Different types of roofs have various life expectancies. For example, a cedar shake roof will last around 20 years if cared for. Asphalt shingles can last for up to 25 years or even longer. Tile roofs seldom need replaced, but the individual tiles can break. Concrete should last for as long as you own the house.

Take care of your roof to prevent other issues that cost money, such as damage to the structure of your home. A regular roof inspection can tell you when you need to make repairs or replace it. Call me for a local referral, Pam Snowden 817-690-0976.

Pam Snowden

Realty World Professionals

817-690-0976 (cell)

Pam@pamsnowden.com

www.PamSnowden.com

Image courtesy Herry Lawford/flickr.com