negotiating – McVeigh Properties http://mcveighproperties.com Your Huntington Beach Real Estate Broker Mon, 22 Jan 2024 23:10:07 +0000 en-US hourly 1 3 Must-Do’s When Selling Your House in 2024 http://mcveighproperties.com/3-must-dos-when-selling-your-house-in-2024/ Mon, 22 Jan 2024 18:41:28 +0000 https://mcveighproperties.com/?p=9606 If one of the goals on your list is selling your house and making a move this year, you’re likely juggling a mix of excitement about what’s ahead and feeling a little sentimental about your current home. Keep these three best practices in mind when you’re ready to sell.

1. Price Your Home Right

If you price your house too high, you run the risk of deterring buyers. And if you go too low, you’re leaving money on the table. Experienced Real Estate Broker, Sheralyn McVeigh can help determine what your ideal asking price should be, so your house moves quickly and for top dollar.

2. Keep Your Emotions in Check

Today, homeowners are staying in their houses longer than they used to. According to the National Association of Realtors (NAR), since 1985, the average time a homeowner has owned their home has increased from 6 to 10 years.

This is much more than what used to be the norm. The side effect, however, is when you stay in one place for so long, you may get even more emotionally attached to your space. That’s why you need a real estate professional to help you with the negotiations and the best pricing strategy along the way. Trust the professionals who have your best interests in mind.

3. Stage Your Home Properly

While you may love your decor and how you’ve customized your house over the years, not all buyers will feel the same way about your vibe. As Jessica Lautz, Deputy Chief Economist and Vice President of Research at NAR, says: “Buyers want to easily envision themselves within a new home and home staging is a way to showcase the property in its best light.”
If you’re considering selling your house, contact Sheralyn 714-746-7088 so you have help navigating the process while prioritizing these must-do’s.

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Wondering How Much You Need To Save for a Down Payment? http://mcveighproperties.com/wondering-how-much-you-need-to-save-for-a-down-payment/ Tue, 03 Jan 2023 18:29:03 +0000 https://mcveighproperties.com/?p=9451 Wondering How Much You Need To Save for a Down Payment?

Wondering How Much You Need To Save for a Down Payment? | MyKCM

If you’re getting ready to buy your first home, you’re likely focused on saving up for everything that purchase involves. One cost that’s likely top of mind is your down payment. But don’t let a common misconception about how much you need to save make the process harder than it could be.

Understand 20% Isn’t Always the Typical Down Payment

Freddie Mac explains:

“. . . nearly a third of prospective homebuyers think they need a down payment of 20% or more to buy a home. This myth remains one of the largest perceived barriers to achieving homeownership.

Unless specified by your loan type or lender, it’s typically not required to put 20% down. This means you could be closer to your homebuying dream than you realize. According to the National Association of Realtors (NAR), the median down payment hasn’t been over 20% since 2005. In fact, the median down payment today is only 14%. And it’s even lower for first-time homebuyers at just 6% (see graph below):

Wondering How Much You Need To Save for a Down Payment? | MyKCM

Learn About Options That Can Help You Toward Your Goal

If saving for a down payment still feels like a challenge, know that there’s help available. A real estate professional and trusted lender can show you options that could help you get closer to your down payment goal. According to latest Homeownership Program Index from Down Payment Resource, there are over 2,000 homebuyer assistance programs in the U.S., and the majority are intended to help with down payments.

Plus there are even loan types, like FHA loans, with down payments as low as 3.5%, as well as options like VA loans and USDA loans with no down payment requirements for qualified applicants.

To understand your options, be sure to do your homework. If you’re interested in learning more about down payment assistance programs, information is available through sites like Down Payment Resource. Then, partner with a trusted lender to learn what you qualify for on your homebuying journey.

Bottom Line

Remember, a 20% down payment isn’t always required. If you want to purchase a home this year, let’s connect. You’ll also want to make sure you have a trusted lender so you can explore your down payment options.

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Why should you work with an Accredited Buyer’s Representative when you’re looking to buy your home? http://mcveighproperties.com/why-should-you-work-with-an-accredited-buyers-representative-when-youre-looking-to-buy-your-home/ Tue, 20 Dec 2022 18:10:43 +0000 https://mcveighproperties.com/?p=9433 Why should you work with an Accredited Buyer’s Representative when you’re looking to buy your home?

With all the choices in today’s market, how do you go about finding the right home? It seems the more research you do, the more options you discover. 

It’s important to visualize your needs and plan ahead. “Know what you want in a home, what’s important to you, and what you can live without,” Sheralyn Mcveigh, Broker and Owner of McVeigh Properties says. “Many of us start out with a champagne taste and a beer budget, so it’s important to be realistic,” she adds. 

Where and what you buy will affect you for as long as you live in the house. “Get your priorities in order before you start looking or even talk to a real estate broker or sales associate,” Sheralyn says. 

For first time homebuyers this is a new experience, so it’s especially important to do your homework. If you currently own a home, you know exactly what’s lacking. You may need another bedroom or bathroom, or a good school nearby. 

First, decide where you want to live. A big part of the answer hinges on where and how you earn a living. If your job requires a lot of reading or is quite stressful, public transportation may offer valuable time to sit quietly. “Regardless, you should practice the commute in rush hour before you make a commitment. A seemingly quiet road can transform into gridlock during peak hours,” Sheralyn cautions. 

People with children have other major considerations: school and safety. If you plan to send your children to private school, you can live where you want, assuming you can easily arrange transportation. On the other hand, a lavish public school system may indicate high local real estate taxes. Check them out. 

Obviously, lifestyle is an important consideration. People who dine out, go dancing and attend the theater probably belong in the city or a close-in suburb. “In other words, make sure you’re in close proximity to the things that matter most.”   

It used to be that homes came in a limited variety, but today, you have many choices. In addition to the traditional single-family home, you can buy a townhouse, condominium or apartment condominium or co-op.  

In planned unit developments (PUDs), you can find almost any combination. In condos and other such communities, make sure the rules and regulations, as well as the by-laws, match your lifestyle. This type of housing is great for people who want to own their own space without being responsible for mowing the lawn or repairing the roof; a management company handles that. 

On the other hand, you’ll pay fees for these services. “In addition to checking the documents and financial soundness of the homeowner’s association, you must determine if the monthly fees are worth the services and additional amenities, such as a swimming pool or exercise room,” Sheralyn explains. 

Affordability can be a factor not only in the type of housing, but whether it’s new or an existing home. Old houses often have fine woodwork or interesting nooks and crannies not normally found in new homes. They generally sit on landscaped lots with mature trees and grown bushes. 

New homes may cost more, but you can make many more decisions on amenities, colors, carpeting and fixtures. “Make sure you’re dealing with a reputable builder, and have an attorney review all documents, Sheralyn says.

Selecting a real estate professional is an important first step in beginning your search. “Ask for personal recommendations to find an individual who is knowledgeable about the neighborhood and has access to the local Multiple Listing Service,” Sheralyn says. Make sure you feel confident about his or her knowledge and skills, and understand the business relationship that you have established between you. 

Sheralyn McVeigh is a member of the Real Estate Buyer’s Agent Council (REBAC) of the NATIONAL ASSOCIATION OF REALTORS®, and has obtained the Accredited Buyer Representative (ABR®) designation. As the world’s largest association of real estate professionals focusing specifically on representing the real estate buyer, REBAC is “The Voice for Buyer Representation,” with more than 32,000 active real estate professional members of the organization throughout the world.  

 

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The Ins-and-Outs of Home Inspections http://mcveighproperties.com/the-ins-and-outs-of-home-inspections/ Wed, 14 Dec 2022 18:00:35 +0000 https://mcveighproperties.com/?p=9401
The In's and Out's of Home Inspections

The In’s and Out’s of Home Inspections

The Ins-and-Outs of Home Inspections

Home Inspections are crucial for real estate transactions. Home buying is stressful as with any large investment.  No house is perfect. There will always be items to fix. Maintenance with all homes is never ending.  Setting expectations with all parties is key for the inspector and realtor on either side. Most homes have minor issues while some have significant deferred maintenance that can be costly.  The home price should reflect the difference between turn-key and fixer.  Problems arise when a home’s value does not reflect this accurately.  A bad house price can kill any deal, especially if there are significant costly defects that need to be addressed.

A good home inspector should provide an overall assessment condition of the home and find items that need service. Home Inspectors are generalists, they are evaluating thousands of components within a few hours of time.  Buyers and sellers should expect the Inspector to find items that need service. A good inspector will provide an overall assessment and have photos ready in the report that can be reviewed by all parties.

Inspection Day – What to Expect? 

Your inspector should encourage your attendance.  Buyers should be encouraged to ask questions and review house components with their inspector. The inspector should show clients where the main electrical panels are located, the water and gas shut off locations, etc. and anything else significant in regard to defects or potential safety hazards.

Inspectors love vacant homes however this is not always the case. The seller or tenant will usually leave the property during the inspection, however some like to linger.  No real estate transaction is alike when you add personalities into this. Take advantage of the situation.  Don’t be shy to ask the sellers or tenants about the history of the property, repairs completed, neighbor relationships, etc.  You would be amazed what information people like to share.

Buyers are entitled to investigations of the property. Ask any questions on your mind. Tell the inspector you want a thorough tour of the home that satisfies any anxieties, stress, and curiosity. A full understanding of the home should include the good with the bad.  Knowledge is power.

Inspection Reports – How to Read Them

After your inspection is completed, you should expect a thorough pdf. file report with photos. As boring as it can be, read the entire report. Do not skip pages. A Summary report with Need Service items is common, however for a full understanding read the entire report.

Most buyers are concerned about costly repair items that will need to be prioritized. Significant safety issues should also be addressed.

Further evaluations by licensed trade professionals recommended are common. Electrical, plumbing, heating/AC, roofs, etc. the list of components can feel endless since homes have thousands of components.  If the home inspector finds issues, they may refer you to consult with a specialist.  The specialist within your contingency period can provide estimates and further opinions. This can impact a client’s decision to move forward with purchasing or back out of a potentially bad investment.

Every buyer and agent should feel comfortable reaching out to their inspector to explain the report in further detail.  This is crucial because repair costs and defects can be complicated, and most clients are not construction experts.  Your inspector should always encourage questions and offer lifetime home maintenance advice.

About the Inspector:
Justin Watts, owner of American Dream Home Inspection is an International Code Council Certified Residential and Commercial Building Inspector has provided thousands of real estate inspections throughout Southern California. He is a Court qualified Expert Witness and has testified in cases involving construction defects, home inspection standards of care and landlord/tenant disputes.

Justin D. Watts

American Dream Home Inspection

Direct: (949) 331-2602

website: www.americandreamhomeinspection.net

E-mail: americandream1@cox.net

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