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How to Spot A Family-Friendly Home in Observatory Park


October 18, 2017

Finding the perfect home for your family can be challenging. Buyers have to make sure that the home they choose fits every family member’s needs—not just their own. How will you know when you’ve found the right one? Follow these tips to spot a family-friendly home in Observatory Park:

Outdoor Space

Ideally, a family home will have plenty of outdoor space that your kids will be able to enjoy. The yard should be fenced in so you don’t have to worry about your children or pets running out into the street. If the home doesn’t have a sizable yard, see where the closest playground or park is located. As long as something is nearby, the size of the yard doesn’t matter as much.

Large Kitchen

Parents will spend countless hours cooking meals and making snacks for their children in the kitchen. For this reason, it’s a good idea to look for a large kitchen that has plenty of seating space. Many kitchens will either have an island with bar stools or a built-in seating area where kids can gather while their parents prepare food. This is a great space for kids to sit and talk to their parents after school or in the evenings, so this is a must-have in all family-friendly homes. See 19 family-friendly kitchen design ideas.

Multiple Bedrooms and Bathrooms

Do you plan on having more children in the future? Even if you don’t plan on expanding your family for a few more years, it’s a good idea to buy a home with enough space now. Experts recommend that you assume you will spend at least five years in your home. This means if you plan on having more children within the next five years, you will need to think about how many bedrooms and bathrooms you will need to accommodate your growing family.

Spacious Master Suite

Being a parent can be exhausting, which is why it’s so important to find a home with a spacious master suite. Why? You deserve to have a comfortable and luxurious place to go when you need a break from your kids. A master suite with a private bathroom and walk-in closet is a must, but a master suite with a private balcony and beautiful view is even better.

Flooring Materials

You should also pay attention to the flooring materials when looking for a family-friendly home. Materials such as laminate and vinyl are much more durable and kid-friendly than light-colored carpet or hardwood. Flooring can always be changed, so this shouldn’t be a deal breaker, but it is much easier to move into a home that doesn’t need to be renovated.

Open Floor Plan

If you have young children, look for a home with an open floor plan. This type of floor plan gives parents the ability to keep an eye on their kids even when they’re doing something in the other room.

Ready to find a family-friendly home in Observatory Park? If so, get in touch with the professionals. Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.

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Buying A Home On the Lowry Real Estate Market Without Your Spouse


October 11, 2017

Many couples decide to buy a home on the Lowry real estate market together after getting married. This is a logical next step to take in your relationship, but it’s not right for everyone. Some couples choose to buy a home and only put one spouse’s name on the deed. Why would this be a good option? Are there any downsides to not putting your spouse’s name on the deed? Here’s everything you need to know before making this decision:

Mortgages

It may seem cruel to leave your spouse’s name off of the deed, but sometimes doing so is best for the couple. This is especially true if one spouse has really good credit and the other does not.

Getting a mortgage in both of your names may be more difficult because of your spouse’s bad credit. This means you may not be approved for as much or you may be forced to pay higher interest rates. To avoid this problem, many couples choose to only use one party’s name. But, keep in mind that if your spouse is not included on the mortgage, the lender will only be able to use your income when calculating how much to lend to you. Read what is a good credit score? The number you need to buy a home.

Cash Contributions

Couples may decide to only put one party’s name on the deed if one spouse paid for the entire house using money that he earned prior to the marriage. There’s no law that requires couples to do this, so this is a personal matter that must be discussed between the two of you.

Creditors

Is your spouse drowning in debt? If there are creditors that are currently going after your spouse, it’s a good idea to leave his name off of the home. Creditors can try to go after any property that your spouse owns in order to repay what he owes to them. Keeping your spouse’s name off of the house will ensure that your home is protected from creditors.

How to Involve A Spouse Without Putting His Name on the Deed

Your spouse may feel uncomfortable not having his name on the deed, which can make it difficult to turn your house into a home that you both love. To prevent this problem, make sure that your spouse is involved in the process of finding the right home. Even though his name will not be on the deed, he should still be happy with the home that you are both going to live in. By leaving him out, he could end up feeling as if he is simply moving into your home instead of moving into a home that is both of yours.

Are you and your spouse ready to find the home of your dreams on the Lowry real estate market? If so, get in touch with the professionals. Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.
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Goldsmith Real Estate Contract Terms You Should Know


October 4, 2017

You should never sign a contract without knowing what it says—especially when it is a real estate contract. But unless you’re a lawyer, it can be difficult to understand some of the terms that are typically found within a Goldsmith real estate contract. Make sure you know what you’re agreeing to by learning these terms:

Closing

Every real estate contract will include information on the closing date, which is the date that you will officially “close” the deal. This is the final step in the process of buying a home and the point where the ownership of the home will be transferred from the seller to the buyer.

Contingencies

Some real estate contracts may contain contingencies, which are conditions that must be met for the deal to go through. If one party fails to meet a contingency, the other party can back out of the deal.

What contingencies will you typically find in a real estate contract? The buyer may include a contingency that he will only move forward with purchasing the home if there are no issues with the inspection. The buyer could also include a contingency that states the seller must make certain repairs before the closing date. There are many different contingencies that can be included in a real estate contract, so make sure you go over each and every one with your agent. Learn about home sale contingencies: what buyers and sellers need to know.

Disclosures

There are certain things that a seller must tell a buyer before he takes ownership of the home. For example, anyone who is selling a home that was built prior to 1978 must include a disclosure that informs the buyer of any lead-based paint or lead hazards in the house. It is a violation of federal law to not provide this disclosure or to include inaccurate information on it. Make sure you work with your real estate agent to get a better idea of which disclosures should be included within the contract, and what each of them says.

Appraisal

Buyers who are planning on financing the home will need to have it appraised before closing. During an appraisal, a professional will visit the home and estimate its value. If the appraised value is not close to the listing price of the home, the lender may not want to move forward with the deal.

Effective Date

You may see the term “effective date” used in various places throughout the contract. This refers to the date that the last party signed the contract. For example, the contract may say that the buyer has 14 days from the effective date to schedule an appraisal. This means you must schedule an appraisal within 14 days of the last person signing the contract in order to comply with the terms of the contract.

Are you ready to find your dream home in Goldsmith? If so, get in touch with the professionals. Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.
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University Park Market Trends For After Labor Day


September 27, 2017

Labor Day marks the unofficial end to summer—and it also happens to be the end of the busiest real estate season as well. Every year is different, but the market typically changes after Labor Day, which is important to know if you are planning on buying or selling a home. Here are some of the University Park market trends that are expected now that Labor Day is behind us:

Lower Competition

Many families prefer buying a home by the month of August so they can be settled in before their kids go back to school. But, if you don’t have kids or don’t mind moving in the middle of a school year, you can take advantage of the fact that there are fewer buyers looking for homes. With less competition, buyers may be able to score better deals since sellers no longer will be in control of the market. Learn about a buyer’s market.

Sellers Are Ready

Some sellers that listed their homes in the spring and summer may not have been fortunate enough to close a deal by Labor Day. But, after several long months of waiting for offers to come through, these sellers are ready to negotiate just so they can close this chapter of their lives. Buyers should look for homes that have been on the market for months if they are trying to find a good deal. Sellers who have waited this long will probably be more willing to negotiate than sellers who have recently listed their homes.

Real Estate Agents Are Available

Now that the market has slowed down, real estate agents will have fewer clients and listings to juggle, which means they will have more time to spend with each client. This is the perfect time for first-time buyers or buyers who aren’t sure what they’re looking for to get in touch with a real estate agent. During the fall, your agent will have more time to walk you through the process step-by-step and help you find the home of your dreams.

Closing Dates

There are not many people who want to be in the middle of a move during the holiday season. What does this mean for the real estate market? Both buyers and sellers will be eager to close the deal as soon as possible so they can be settled into their new homes by the holidays. However, if you make a deal too close to the holiday season, it’s possible that the seller or buyer will suggest closing after the holidays, which may mean a longer wait. Be prepared to accommodate others’ busy holiday seasons if you are buying or selling a home this fall.

Now that you know what to expect for the rest of the year, are you ready to find your dream home in University Park? If so, get in touch with the professionals. Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.
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The Role of A Lowry Real Estate Agent


September 20, 2017

Many people don’t understand why hiring a Lowry real estate agent is so important. That’s mainly because people aren’t familiar with the role the agent plays in the process of buying or selling a home. What exactly does an agent do? Here are some of the ways that an agent helps buyers and sellers:

Provides Information

Do you want to know about an up-and-coming neighborhood in your community? Are you wondering how much homes are selling for in your area? A real estate agent can answer these questions with ease. Getting this information from a trusted source makes the process of buying or selling a home much easier and more efficient.

Network

Real estate agents are very connected with other agents in the community. This means if you are selling a home, your agent can reach out to his network of agents to promote your listing. Without an agent, it may be difficult to attract potential buyers to your home because you won’t be able to reach other agents as easily.

This network is also valuable for buyers. If you’re having a hard time finding a home that fits your needs, an agent can contact other agents in his network to let them know about your situation. Then, the other agents can contact your agent if a home that meets your requirements is about to hit the market.

Negotiations

An agent will also represent you during negotiations with an interested buyer or seller. Your agent has your best interests in mind, so he will work tirelessly to negotiate a favorable outcome with the other party. If you don’t work with an agent, you will have to negotiate with a skilled agent representing the other party who will take advantage of your inexperience. Read 11 things you need to know about real estate negotiations.

Paperwork

A real estate agent will handle all of the paperwork that’s involved with your transaction. Why is this important? If you handle the paperwork on your own, it’s very likely that you will make a mistake. Every mistake that you make could lead to delays if the paperwork needs to be resubmitted. Even worse, a mistake could mean that you agreed to something that was not intended. For this reason, it’s important to work with an agent who knows the ins and outs of real estate paperwork.

Watch Your Back

A good agent will not let you get involved in a bad deal. For example, an agent will not recommend that you put an offer on a home with severe water damage that will require extensive repairs. If a seller is unwilling to negotiate on the price of a home, a trustworthy agent will tell you if it’s a good idea to pay the listing price. The best agents will always have your back, which is one of the most important reasons to hire one.

Are you ready to find your dream home in Lowry? If so, get in touch with the professionals. Contact Elevation Realty to be connected to a team of experienced real estate experts ready to help you on your home buying or selling journey.
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