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Nashville Real Estate Agent
by Dee Curtis, Real Estate Broker

Down Payment Options To Help You Realize The Dream of Home Ownership

When prospective home buyers contemplate purchasing a home, one of primary things to be considered is the down payment needed to make the purchase.  The lack of savings or resources for a down payment can be a challenge if you are unaware of programs and sources that can be used to help you towards your home purchase.

Watch the video below to learn about viable down payment options for your home purchase.

 

Your mortgage professional and real estate professional can provide additional details for available down payment assistance programs currently available in your area.  Take the time do discuss lower down payment option loans available through your lender.

If you are ready to learn more about programs available and how the home buying process can be simplified for you; join our Savvy Homebuyer’s Tribe. Gain access to the best home buying tips, how to save thousands on your home purchase, webinar invites, and more.  Click here to join the tribe now.  If  are looking to buy a home within the next 90 days click here to schedule an appointment to meet our experienced real estate broker and get started on the path to home ownership.

Dee Curtis

by Dee Curtis, Real Estate Broker

Looking for a great opportunity to own a HUD Home?

A HUD home is not just a great choice for investors; but can be a great opportunity for a buyer that intends to occupy the home as their primary residence.

In fact, a HUD home may be one of the best home ownership options available for an owner occupant.

What is a HUD HOME?

If you guessed it is a foreclosed home you are correct.  The foreclosed property will be a 1-to 4 unit residential home.  The home is being sold because the previous owner who financed the home with a FHA-insured mortgage has defaulted on the loan resulting in that foreclosure.  The property is being sold to help recover the loss.

Although the purchase of a HUD home has numerous perks such as the potential to acquire a property for a very fair market value, help with buyer’s closing costs, and other area

HUD Homes

HUD Homes

incentives, a HUD home is not the best choice for every buyer.

One of the disadvantages of a HUD foreclosure is that the home will be sold as is.  A home inspection is highly encouraged, but HUD will not pay for the correction of defects or repairs of any property.  Just like any foreclosure; these properties may not be in move in condition and may take some time and additional investment to get move in ready.

Deciding to purchase a HUD home requires careful consideration.  For a list of frequently asked questions regarding HUD homes visit: http://portal.hud.gov/hudportal/documents/huddoc?id=publicfaq.pdf.

Not all real estate brokers can sell HUD Homes.  The broker must be a HUD registered broker.  If you are interested in learning more about purchasing a HUD home, current incentives offered, or getting a list of available homes for sale contact me at 615-625-5002.  If you are in the market to buy a home, you can also join our Savvy home buyer’s tribe and get information directly to your inbox.  Join the tribe by clicking visiting savvyhomebuyerstribe.com.

Dee Curtis

 

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by Dee Curtis, Real Estate Broker

The True Costs of Obtaining Homeownership

There are costs associated with acquiring a new property that affect the buyer and seller of any real estate transaction.  This blog post will be focusing on the costs the buyer should be prepared for when embarking on the journey to home ownership.  The majority of the funds needed are for the down payment and closing costs.

Down payments on a home can range from 3.5% -20% or more depending on the type of mortgage loan. The down payment reduces the amount of mortgage loan financed.  For example, if you purchase a house for $200,000 and your loan program requires a 10% down payment your down payment will be $20,000 and the amount financed will be $180,000.

However, be a well-informed buyer and recognize there will be other funds you can expect to pay.

Let’s take a look at a few you will have doing the home buying process.

1.        Earnest Money Deposit.  An earnest money deposit is money you submit with an offer on a house to show the seller that you are serious about purchasing the home. It becomes part of the down payment if the offer is accepted, is returned if the offer is rejected, or is forfeited if you pull out of the deal for reasons other than those stipulated in the offer.

2.       Appraisal Fee- Although considered as part of your closing costs, this cost will usually be collected by your lender before the appraisal is performed.  An appraisal is a professional opinion of a home’s value.  This is not only a requirement, but a safeguard to ensure you are making a proper investment.

Costs of Homeownership

Costs of Homeownership

3.       Home Inspections- A professional home inspection is recommended for any home purchase including new construction.  A home inspection should uncover deficiencies of the property within the scope of the inspection.  Specialty inspections such as for radon and mold are not uncommon and may offer more assurance that the selected property is a good investment.

One the appraisal and home inspection are completed the buying process continues to move towards closing.  After contingencies are removed and additional loan requirements are meet, it’s time to close your loan.  There are several mortgage options that allow the seller to pay all or a large portion of these closing costs on your behalf.  If allowed, be sure to negotiate to get the allowable closing costs paid by your seller.

Example of Closing Costs could include:

•    Loan application fees

•     Legal fees

•     Fees to the Title Company for their services

•     Title Insurance

•     Filing fees

•     Paperwork copying fees

•     Courier fees

•     Property taxes

•     Homeowner association dues

•     Daily pro-ration for mortgage interest depending on the actual closing date

•     Termite inspection fee

•     Home warranty

•     Appraisal fee

•     Home insurance

•     Possible loan insurance

•     “Points” – optional. You may want to pay some of the interest on your loan to reduce your monthly rate.

•     Other fees as required by your situation

After closing there are other immediate expenses to consider:

·         Moving Expenses

·         Utility Deposits if you are moving to a new area

·         Appliances for your new home

·         Window Treatments

·         Lawn Maintenance Equipment

 

You can negotiate some of these items such as appliances, window treats, and even lawn maintenance equipment with the seller at the time of your offer.

If you are ready to take the leap and venture into the world of home ownership contact us today by phone at 615-534-2511 or schedule an appointment for a confidential consultation by visiting http://deecurtis.com/schedule-an-appointment.

Not sure if it’s the right to make a move?  Click here to join our Savvy Home Buyers Tribe and learn more about the home buying process.  Use the tips and tools we provide to make the best decision for you and your family at this time.

Until next time!

Dee Curtis

 

by Dee Curtis, Real Estate Broker

4 Reasons Sellers May Decide To Sell Their Home

Making the decision to sell a home can be a very difficult decision to come to even when you know that selling your home may be in your best interest.  There are many reasons people choose to sell their home.  If you are considering selling your place you are in good company.  Listed below are some of the reasons we find that people decide to sell.

1.        Sellers want an upgrade.  An upgrade can mean different things.  Sellers may want

Sell Your Home Nashville

Selling Your Home

an upgrade in the size of their home.  An increase in the number of family members may require additional room space.  Also as children get older and long for more privacy; parents may also decide it is a good time to spread out.  Sellers may also want an upgrade in home features.  Many times the addition of more space and features come together in the next home purchase.  The second or third time around you are a more seasoned home buyer and can quickly decide what will work best for you and your family.

2.      Relocation.  Relocation is another big reason sellers decide to sell their home.  The relocation can be to a new city or it may just be relocating to a different part of town.  Other times relocation is due to a job change or transfer.  In those instances many sellers recognize the difficulties of maintaining a property when you live outside of an area and may opt to sell their home to recoup their investment and make a fresh start in the new city or state.

3.       Maintenance.   As people mature or become bogged down with other areas of life they may decide to sell because their current home requires more maintenance and responsibility to care for.  They may not have the time and the energy they once did and may opt to sell the higher maintenance home for a home that requires less to maintain.

4.       To avoid financial hardship.  Life doesn’t always go as planned.  An unexpected job loss or sudden disability can hugely impact a person’s financial profile.  There may be instances when a seller is looking to sell their home before losing the home to foreclosure.  If the seller has equity in their home, that equity can be used to help the seller gain a fresh start or just maintain their lifestyle until financial stability returns.

There are many reasons a seller may decide to part ways with their current home and start anew.  If you are considering selling your home be sure to discuss your decision with all those that will be impacted.  If you would like to discuss selling your home.  Please give our office a call today at 615-534-2511.  We would be happy to discuss your options with you.

by Dee Curtis, Real Estate Broker

The Home Seller’s Advantage

Often times we are aware of advantages for first time buyers, but existing homeowners that decide it is time to sell their current home and buy a new home,  have a few major advantages of their own.

Listed below are three advantages an experienced home seller looking to buy another home has.  for-sale-148892_640

  • Experience   This is an advantage that should not be taken lightly.  Let’s face it, experience is our best teacher.  As an experienced home buyer you are able to set more realistic expectations for the process.  You have learned some of the pitfalls to avoid which will help your next transaction run smoother.
  • Professional Contacts – If you are remaining in the same area you have purchased a home before you may have the opportunity to call on the professionals that helped with the purchase of your first home.  That could include mortgage professionals, real estate professionals, the title company, home inspectors, movers, and more.  If those professionals served you well, dig out the Rolodex.
  • Equity in your home –  this is arguably the biggest advantage for seasoned home owners  that have been in their home for a number of years and their home value has appreciated over time.  Proceeds from the sale of that home can be used for down payments, closing costs, and other expenses for acquiring a new home.  A large down payment can significantly improve mortgage terms on the next loan and even increase the amount of home that the homeowner can qualify for.

If you have looking forward to selling your existing home and settling into a new place and would like to find out how our office and help maximize the return on your investment   Contact our office to schedule an appointment by clicking here.

by Dee Curtis, Real Estate Broker

Delayed is Not Denied; Getting Qualified To Buy A Home

When deciding to move forward to purchase a home, one of the first recommendations is to consult with a mortgage professional.   By consulting with a mortgage professional you will have the answers to some of the most frequently asked questions such as:

  • How much house can I afford?

    How Much House Can I Afford

    How Much House Can I Afford

  • What are current market interest rates?
  • What type of loan is best for my needs?
  • What is the amount of down payment that will be required for me to purchase a home?

But what happens when the mortgage professional tells you that you do not qualify to purchase a home at this time.  What should your next step be?  Should you just give up on your dream of home ownership?  Of course not!  One of the advantages of a good mortgage consultation will be to let you know some of the factors that may be delaying your home purchase.  Those factors can be discussed in detail and in most cases you can get input on the steps you need to take to improve your chances of becoming a qualified buyer.

Factors that may be affecting your ability to qualify right now may vary.  Challenges may be your credit score, your debt obligations, time in your current career or job, rental payment history, and the list goes on.  As a buyer don’t assume you know how best to improve your chances of becoming a qualified home buyer.  Discuss an appropriate action plan with your experienced mortgage professional.   By following the action plan suggested you can put yourself in position to own a home in many cases within the next 12-18 months; sometimes even sooner.

If you are looking to be approved to purchase a home, contact us today.  Also take the time to join our free Savvy home buyers club.  By becoming a member, you will receive important information regarding the home buying process, ways to improve your chances of owning a home, and our spotlight of industry professionals that can help you throughout the process.  To join the Savvy Home buyers Tribe click here.

Avoid The Pitfalls Most Home Buyers Make!
Get The Best Home Buying Tips and Exclusive Webinar Invites To help guide you through the home buying process. Enter Your Details Below to Join Our Savvy Home Buyers Tribe Today!
by Dee Curtis, Real Estate Broker

What Is the Best Way To Find Homes For Sale In The Nashville Area?

So you are looking to buy a home in Middle Tennessee and you are looking for resources available to search for properties available for sale.  With the rise in popularity of various internet sites, internet tools, and phone apps there is certainly no shortage of available sources.

Often times as a real estate professional I have clients that search these available sources and request additional information regarding the properties listed.

What we sometimes find is that the information is not current and the home has already been sold.  Other challenges are that the home is out of the buyer’s price range or located in an area outside of the buyer’s interest.

This can be a huge let down for a client that has viewed the property photos online and may have experienced a “love at first sight” moment and become very eager to view the property.

Search-Homes-For-Sale-In-Nashville

Search Homes For Sale In Nashville

What is the best solution for finding the right home for you?

Our agency professionals can tailor a custom search for you that can include all of your desired features within your price range in the area you choose.  These homes can be conveniently sent directly to your inbox each day.  This will keep you updated on the most current homes for sale in your area matching your desired features.

If you have made a decision to buy a home and are looking for a premier real estate processional to assist you, schedule an appointment for a confidential consultation by using our online scheduler by clicking here.  As we work with you we will be happy to set up your custom search report to help you find the home you have been waiting for.

Dee Curtis

 

 

Avoid The Pitfalls Most Home Buyers Make!
Get The Best Home Buying Tips and Exclusive Webinar Invites To help guide you through the home buying process. Enter Your Details Below to Join Our Savvy Home Buyers Tribe Today!
by Dee Curtis, Real Estate Broker

3 Things You Should Consider Before Selling Your Home

Deciding to sell your home is a big decision in several aspects.  It’s a big financial decision, emotional decision, and requires family considerations.  This decision should not be taken lightly and should be weighed heavily before making the call to your real estate professional to list your home.  Listed below are 3 things you should consider before consulting with a real estate professional.

1.        Why are you moving?  Are you preparing to upgrade to a larger and potentially more expensive home?  Are you preparing to downsize because a larger space is no

Sell Your Home

Sell Your Home

longer needed or manageable?  There are numerous reasons people consider selling their home.  Evaluate your particular reason or reasons and make sure a home sale is the right solution.  You don’t want to waste your time and efforts preparing a home to sell and then deciding you are not really ready.

2.       Consider your current financial situation.  Do you have enough equity in your current home to absorb the cost of transitioning into a new home? Even if you have equity in your home for a down payment on your next home, will you credit qualify for a new purchase.  Is your current debt ratio within the guidelines for a new home?  What will your next move require financially?

3.       Do you have the cash flow to invest in getting your home ready to sell?  Consider what repairs may be required for a buyer to obtain a new loan.  Are you able to fund those repairs or updates upfront to get your home sold?

The emotional impact on children may also be a huge consideration.  Older children may find it hard leaving child hood friends and starting at a new school.  Having the discussion about moving with all those that will be impacted is a good way to bring to light issues important to all and uncovering resolutions to challenges that may arise from making a move.

If you would like to find out more about the selling process or get a free home valuation.  Please contact us at 615-534-2511.

Dee Curtis

by Dee Curtis, Real Estate Broker

Working With A Nashville Real Estate Agent

So you have carefully considered whether or not it’s the right time for you to move forward with purchasing a new home.  You have decided yes! Yes, you are ready to enjoy the flexibility of being a home owner, yes, you are looking forward to potential tax savings, and yes you would rather your monthly housing expense become a contribution to an asset that is likely to appreciate instead of just being a rent payment.

Avoid the temptation of going it alone.  Don’t underestimate the time, energy, research, and expertise needed for a successful real estate closing.  The seller will most likely have an agent that is working in their best interest, so why should you go it alone?  Having the right Nashville real estate agent representing your best interest will result in a better experience for you.

When choosing your Middle Tennessee real estate professional keep these things in mind:

Middle Tennessee Real Estate Agent

Middle Tennessee Real Estate Agent

Once you reach out to the real estate professional, the real estate professional will most likely schedule an in office consultation with you to introduce him or herself and to learn more about you and the needs and interest of your family.  Be sure to be open and ask questions and express concerns that are important to you upfront.

If you have not already spoken with a mortgage professional to get pre-approved you will be encouraged to do so.  Unless you are paying cash for your new home, getting approved for a mortgage is a critical step.  You will get a realistic expectation of the amount of house you can be approved for and the costs associated with acquiring your new home.   You will also learn if there is down payment assistance available for you.

Once you have the green light from the mortgage professional, your real estate agent will be working closely with you to help you find the best housing suitable for you and your family.

If you have made the decision that buying a home is right for you and you are in search of a professional real estate professional, contact our office at 615-534-2511 to schedule a no cost or obligation consultation.    

Avoid The Pitfalls Most Home Buyers Make!
Get The Best Home Buying Tips and Exclusive Webinar Invites To help guide you through the home buying process. Enter Your Details Below to Join Our Savvy Home Buyers Tribe Today!

Dee Curtis

by Dee Curtis, Real Estate Broker

Preparing Your Home For Sale

If you are considering selling your home in the Nashville area now is a great time to do so.  There are buyers waiting for your home!

Sellers are taking advantage and cashing in the equity in their home and transitioning to new homes while mortgage rates are still low.

If you are considering putting your house on the market listed below are three tips that will help you get your home prepared to sell.

1.        Declutter- Decluttering is one of the first tips that potential home sellers will be advised on. Whether you are preparing to sell within the next 90 days or 6 months this is

Preparing Your Home For Sale

Preparing Your Home For Sale

something you can start today.   If you have been in your home for a number of years you may be amazed by all of the things that have accumulated in that time.  Packed garages, attics, closets, and counter tops could turn off potential buyers who will find a hard time envision themselves in a home packed to the brim.  Some of the ways you could clear out those items is by having a garage sale, giving items away to local charities, or even renting a small storage short term use.

2.       Minor Repair-Just like anything else over time a home will begin to show signs of “wear and tear”.  It may be a bathroom faucet that drips, a door that sticks, a window screen that needs to be replaced, or a doorbell that doesn’t ring.  Take to time to get those things you are aware of fixed before listing your home.  Having a home in good repair will mean a lot to a prospective home buyer and will mostly likely produce a more reasonable offer than a home in disarray.

3.       Improve Curb appeal- We have all heard how important first impressions are.  Many times buyers are encouraged to drive by homes that may be of interest before even scheduling a showing to view the inside.  Something as simple as an un-manicured lawn may sway your buyers to move on to the next property.  Eliminate weeds and overgrown shrubbery.  Repair or replace a worn or damaged mailbox.  Touch up areas with chip or missing paint.  Replace damaged or missing shutters.

Your real estate professional is there to guide you and make appropriate recommendations to help you get your home ready for sale.  The three tips listed here are good inexpensive starts that can make a huge impact on how well your house showing goes.

If you are considering selling your home and are looking for a real estate professional to work with you, schedule a no obligation consultation today by clicking here!