Posted by Lori Ann Lacey on 7/17/2019

If you’re in the market to buy a home, you’re probably learning many new vocabulary words. Pre-approved and pre-qualified are some buzz words that you’ll need to know. There’s a big difference in the two and how each can help you in the home buying process, so you’ll want to educate yourself. With the proper preparation and knowledge, the home buying process will be much easier for you.  


Pre-Qualification


This is actually the initial step that you should take in the home buying process. Being pre-qualified allows your lender to get some key information from you. Make no mistake that getting pre-qualified is not the same thing as getting pre-approved.


The qualification process allows you to understand how much house you’ll be able to afford. Your lender will look at your income, assets, and general financial picture. There’s not a whole lot of information that your lender actually needs to get you pre-qualified. Many buyers make the mistake of interchanging the words qualified and approval. They think that once they have been pre-qualified, they have been approved for a certain amount as well. Since the pre-qualification process isn’t as in-depth, you could be “qualified” to buy a home that you actually can’t afford once you dig a bit deeper into your financial situation. 


Being Pre-Approved


Getting pre-approved requires a bit more work on your part. You’ll need to provide your lender with a host of information including income statements, bank account statements, assets, and more. Your lender will take a look at your credit history and credit score. All of these numbers will go into a formula and help your lender determine a safe amount of money that you’ll be able to borrow for a house. Things like your credit score and credit history will have an impact on the type of interest rate that you’ll get for the home. The better your credit score, the better the interest rate will be that you’re offered. Being pre-approved will also be a big help to you when you decide to put an offer in on a home since you’ll be seen as a buyer who is serious and dependable.  


Things To Think About


Although getting pre-qualified is fairly simple, it’s a good step to take to understand your finances and the home buying process. Don’t take the pre-qualification numbers as set in stone, just simply use them as a guide. 


Do some investigating on your own before you reach the pre-approval stage. Look at your income, debts, and expenses. See if there is anything that can be paid down before you take the leap to the next step. Check your credit report and be sure that there aren’t any errors on the report that need to be remedied. Finally, look at your credit score and see if there’s anything that you can do better such as make more consistent on-time payments or pay down debt for a more desirable debt-to-income ratio.





Posted by Lori Ann Lacey on 7/10/2019

A home appraisal is paramount for a house seller. If a seller enters the real estate market with an appraisal report in hand, he or she can use the report's property valuation to determine the optimal price for a residence. Then, this individual can set an aggressive price for his or her house from day one of the home selling journey.

Ultimately, not all home appraisers are equal. Some of the key factors to consider as you weigh the pros and cons of hiring a home appraiser include:

1. Industry Experience

Hire a home appraiser who knows the ins and outs of the real estate industry – you will be happy you did. If you have a real estate expert at your side, you can receive a data-driven appraisal of your house.

Oftentimes, it helps to perform lots of research before you hire a house appraiser. If you reach out to an appraiser directly, you can learn about his or her industry expertise. Plus, you can use this opportunity to receive immediate responses to any home appraisal questions.

2. Client Referrals

Although it may be tough to determine exactly how an appraiser will analyze a house, it generally is a good idea to explore how past clients feel about this professional. If you request client referrals, you can get in touch with an appraiser's past clients. You then can receive firsthand insights about what it is like to work with this appraiser.

Typically, a home appraiser can provide client referrals upon request. If you allocate time and resources to request client referrals and connect with an appraiser's past clients, you could increase your chances of hiring a top-notch appraiser to assess your residence.

3. Your Home Selling Timeline

There is no guarantee that a home appraiser will be available on short notice. If you are operating on a tight home selling timeline, you may want to reach out to multiple home appraisers in your city or town. That way, you can find a first-rate home appraiser who can review your residence right away.

As you get set to add your house to the real estate market, you may want to hire a real estate agent, too. This housing market professional can put you in touch with the top home appraisers in your area. Also, he or she is happy to lend a helping hand at each stage of the property selling journey.

Let's not forget about the assistance that a real estate agent will provide after you list your house, either. At this point, a real estate agent will promote your residence to potential buyers. And if you receive an offer to purchase your house, a real estate agent will help you make an informed decision about whether to accept, reject or counter this proposal.

Ready to add your house to the real estate market? Hire a home appraiser, and you can receive a property valuation that you can use to price your residence competitively from day one of the house selling journey.





Posted by Lori Ann Lacey on 7/3/2019

For most homeowners, a home is not just a property with four walls and a roof over their head. Over time, it becomes a place that reminds them of sweet memories spent with family and friends. Buying a home is expensive, and as a result, it is essential that you relegate any form of emotions and apply business-minded strategies in making good decisions. With this in mind, here are some costly emotional mistakes home buyers make and how you can avoid making them.

Falling in love too quickly

Buying a home can play with your emotions. But you must balance your dreams with the realities of your budget. Turn a deaf ear when the agent tells you "Oh, this house was made for you," or "It suits you perfectly," Focus on what you want in terms of space, location, maintenance, and the price. If you are buying a house, buy the one you need rather than what you want.

Allowing others to "steer" the process 

Agents and family members can be assertive in attempting to "tell" you what home to buy. What's more, friends who won't even live in the house will aggressively offer opinions about the subject. In an attempt to please others, some homeowners get highly emotional and buy a house they never liked. It is your house, and you will be the one living in it. Friends and loved ones only visit. So put yourself in charge of the buying process. 

Overpaying for a property 

Another common emotional mistake homebuyers make is paying too much for a property. Buyers—especially new ones—always tend to become desperate to buy a house or buy a house in a popular area, and most time, they end up paying far too much for the property. To avoid overpaying for a home, keep your emotional side locked and check the prices of similar houses in the area to avoid being ripped off. 

Putting the pen on paper too soon 

Generally, before you purchase a house, you need to sign a contract and pay a deposit. However, don't get too excited and sign the contract immediately you make the decision. Take your time to read through every line of the agreement. Also, get a seasoned lawyer or property professional to guide you, to ensure your interest comes first and insert any needed clauses. It is tough to make changes once you sign a contract.

Although buying a house can be an emotional experience, it is also an exciting time. Avoiding emotional mistakes, doing your research and keeping a calm head should help you to get a good home that meets all your needs.




Categories: Uncategorized  


Posted by Lori Ann Lacey on 6/26/2019

This Single-Family in Kingston, NH recently sold for $330,500. This Raised Ranch,Split Entry style home was sold by Lori Ann Lacey - Stone Ridge Properties.


6 Woodland Dr, Kingston, NH 03848

Single-Family

$320,000
Price
$330,500
Sale Price

7
Rooms
3
Beds
2
Baths
Located in a country neighborhood, on a large, level, beautifully landscaped lot, this 3 bedroom, 2 bath property with a 2 car garage is a wonderful place to call your next home. The possibilities are numerous for how to utilize the yard, a sprinkler system to keep it green & with the standby generator you'll never need to worry about a power outage. On the main floor, the open concept spacious living room with a lovely bay window is open to the dining room. The private deck to enjoy the backyard is just through the slider. The eat in kitchen has ample cabinet space and the kitchen window overlooks the deck. The master bedroom is at the end of the hall, along with the other 2 bedrooms, and a full bath. The lower level which is somewhat open to upstairs features a large family room with a wood stove, perfect for some solitude, movie nights or perhaps a craft room or home office. There's also a spacious 3/4 bath w/laundry, utility room, and direct access to the 2 car garage.

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Categories: Sold Homes  


Posted by Lori Ann Lacey on 6/26/2019

Spring time after a long winter is always a welcome change. But soon, long summer days will bring scorching heat to your home.

Preparing your home for the summer is something many of us don’t do until it’s too late--as we’re hoisting an air conditioner into a window on a 90-degree afternoon.

In this article, we’re going to help you avoid such struggles. Read on for advice on how to prep your home for the summer heat.

Air conditioners

We’ll start with one of the most important objects in your home when summertime arrives--your air conditioner or HVAC systems.

First, change your filters. After almost a year of collecting dust, your filters will need to be cleaned or replaced to best circulate the air in your home. A dirty, clogged cooling system is bad for your home in more ways than one. The unit will struggle to circulate air and will have to work harder. That could mean components breaking on a hot summer day leaving you stranded in the heat. Over the long run, it can cost you more on your utility bill as it has to run longer to achieve the same temperature change.

Refrigerator and freezer

Another thing you’ll want to clean is the coils or vent on your refrigerator. If the temperature in your house drops in the summertime, then your refrigerator will have to compensate for that temperature change and work harder to stay cool.

As I learned last summer, there’s nothing worse than losing an entire trip to the grocery store when your refrigerator stops working in the middle of the night and it takes hours for a repair technician to arrive.

This is also a good time to decrease the temperature setting in your refrigerator or you might find that it isn’t keeping your perishables at a low enough temperature.

Prepare for insects

You’ll be tempted to toss open the windows to let in a cool, summer evening breeze, but if you haven’t checked your screens you might be inviting in more than refreshing air.

Make sure your screens have no holes, including your windows, doors, and other ventilation systems that lead to the outside.

Use smart lighting and cooking practices

There’s no need to bring in more heat than is necessary in the summertime. Close the blinds and curtains on the east side of your home in the morning and the ones on the west side in the afternoon to decrease the greenhouse effect of warming your house with sunlight.

Similarly, opt for cooking outdoors or using your microwave when possible to avoid heating up the kitchen.

Clean the kitchen

Kitchen odors become worse in the summer heat. To avoid unpleasant odors, the spring is a good time to do a deep clean of your kitchen. Emptying and cleaning your cabinets, throwing away expired food, and degreasing the surfaces in your kitchen will help avoid kitchen odors.

Once you’ve achieved the items listed above, you’ll be on your way to staying cool and refreshed during even the hottest summer days.




Tags: air conditioner   summer   hot  
Categories: Uncategorized