Blog :: 09-2017

Ready to buy a home?

Ready to buy a home?

3 steps to prepare yourself, and 3 steps to prepare your financeshomebuyer, real estate, stone ridge properties, newburyport, amesbury

Are you thinking of purchasing a home? Before you take the plunge, take these steps to prepare yourself and your finances.

3 Steps to Prepare Yourself

Meet with Local REALTORS

Stop into your local Real Estate offices and speak with some agents. You will be working closely with your agent for months, so you want to make sure that you feel valued by your agent and that he or she understands your needs. In-person meetings are a great way to quickly assess whether your buyer’s agent will be a good fit. You can also ask for referrals within your community, chances are there are some wonderful agents that your network has worked with in the past.

Set-up Email Alerts

Your agent can set you up with email alerts for properties that meet your criteria and needs. You can also set these up for yourself on a variety of real estate websites. Once you set up your home alert, for example, 4 bedroom, 2 bath single-family house between $330,000 - $500,000, you will receive daily notifications about properties that are available in your area within that criteria and work with your agent to set up a time to see the property.

Visit Open Houses

Go with your agent, or on your own! Find out where the Open Houses are in your area in by checking with your agent, or by looking online and through local newspapers, and take a look at the homes in your price range. This is also a great way to meet real estate agents.

3 Steps to Prepare Your Finances

Check your Credit

When you start the process of purchasing your home, you will realize that this is not the time for surprises. The last thing you will want is to be shocked by is your credit rating. Your credit card may offer a free credit tracker or you can use a service like Experian to request a current credit report. If you are buying a property with a spouse or a family member, you will want to ask them to check their credit as well. Looking over your credit report in advance of formally applying for your mortgage will give you time to address any issues or questions or concerns in advance of meeting with your mortgage broker.

Get Pre-Approved

A mortgage pre-approval indicates to Agents and Sellers that you are serious about purchasing a home. Being pre-approved for a mortgage is a fairly straightforward process, you will need to select a lender and provide them with basic personal information and income details. Need help finding a lender? Your real estate agent can recommend someone to you based on your personal situation. For example, if you are a veteran or self-employed they will direct you to someone with experience with loans that will meet your needs. Your bank pre-approval amount will help inform the price range of your new home.

Don’t Go on Any Shopping Sprees

No new boats or cars until you close on your home! Once you have been pre-approved for a mortgage, or are beginning the formal mortgage process, you will not want to have any irregularities or questionable activities appear on your credit report. Large purchases can quickly turn your approval into a denial.

We would be happy to meet with you and help match you with an agent, and address any concerns or questions you have about the purchasing process. Contact us today!

Fall Real Estate Market Preview

The Fall Market has arrived and the trend of a strong seller’s market we have been experiencing over the past year is not showing any signs of slowing. In fact, it may be gathering momentum heading into the September. One thing is certainly clear: if you have been thinking of selling, there is no time like the present.

Home sales are up and inventory is down with many pre-approved buyers prepared to make offers as soon as they get the chance.

Stone Ridge Properties owner and REALTOR® Cathy Toomey says, “Every expectation is that  the fall market will continue to be a Seller’s market. Inventory continues to move quickly and houses properly priced will be snapped up. Buyers will need to act aggressively if they want to purchase a property that is new to the market.”

If you have been thinking of prepping your home for sale, or having a conversation with a REALTOR®, don’t hesitate to reach out to us. We can get the process started to maximize your home’s value and connect you with our network of buyers.