What Should You Look for In Your Real Estate Team?

What Should You Look for In Your Real Estate Team? | Simplifying The Market

What Should You Look for In Your Real Estate Team?

How do you select the members of your team who are going to help make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?

The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.

As the financial guru Dave Ramsey advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Do your research. Ask your friends and family for recommendations of professionals they’ve worked with in the past and have had good experiences with.

Look for members of your team who will be honest and trustworthy; after all, you will be trusting them to help you make one of the biggest financial decisions of your life.

Whether this is your first or fifth time buying a home, you want to make sure that you have an agent who is going to have the tough conversations with you, not just the easy ones. If your offer isn’t accepted by the seller, or they think that there may be something wrong with the home that you’ve fallen in love with, you would rather know what they think than make a costly mistake.

According to the Home Buyer and Seller Generational Trends Report:

Buyers from all generations primarily wanted their agent’s help to find the right home to purchase. Buyers were also looking for help to negotiate the terms of sale and to help with price negotiations.”Additionally, “Help understanding the purchase process was most beneficial to buyers 37 years and younger at 75 percent.”

Look for someone to invest in your family’s future with you. You want an agent who isn’t focused on the transaction but is instead focused on helping you understand the process while helping you find your dream home.

Bottom Line

In this world of Google searches, where it seems like all the answers are just a mouse-click away, you need an agent who is going to educate you and share the information that you need to know before you even know you need it.

Posted on April 3, 2018 at 9:00 pm
Ted Mansfield | Category: Buying a home, First Time Buyers, Investment, Luxury market, Mortgage, Move Up Buyers, Real Estate, Selling your home

GREEN Homes Introduction

In the next few weeks, I’ll be posting many new features and information about Green Homes that I’ve learned from earning my National Association of Realtor’s GREEN designation.

Whether you want to improve the resale value of your home or are looking for a new, more resource-efficient property, a REALTOR® with NAR’s Green Designation
can help.

NAR Green Designees really know green. While considering updates to your home, I can help you understand the advantages of resource-efficient upgrades to existing homes, interpret the benefits of high performance features, select the best products and professionals, research information on improving resource use, and access a variety of credits, incentives, and programs designed to help you make your home more resource efficient.

Why use a GREEN Designee? (click the link to be taken to the Green Designee website with specialized answers for Buyers, Sellers, or Builders.

Posted on March 28, 2018 at 11:08 am
Ted Mansfield | Category: Buying a home, Green homes, Investment, Move Up Buyers, New Construction, Real Estate, Remodel, Selling your home, Uncategorized

The relation between interest rates and your purchasing power

Hoe does interest affect home buying power?

We all know that higher interest means higher payments. But what does that mean in real world numbers? The following infographic shows just that. A 1 point jump in interest basically means 10% less house when looking at a $700,000 house. The highlighted numbers in the table show what the same payment buys across a range of home prices.

What does it mean to me right now?

As we are foreseeing a slight bump in interest in the next year, you might want to consider making your jump now to get the most house you can.

Posted on February 23, 2018 at 10:52 am
Ted Mansfield | Category: Buying a home, Finance, First Time Buyers, Investment, Mortgage, Move Up Buyers, Real Estate, Uncategorized

5 Reasons to Love Using A Real Estate Pro [INFOGRAPHIC]

5 Reasons to Love Using A RE Pro [INFOGRAPHIC] | Simplifying The Market

 

Highlights:

  • Hiring a real estate professional to guide you through the process of buying a home or selling your house can be one of the best decisions you make!
  • They are there for you to help with paperwork, understanding the process, negotiations, and helping you with pricing (both when making an offer or setting the right price for your home).
  • One of the top reasons to hire a real estate professional is their understanding of your local market and how the conditions in your neighborhood will impact your experience.
Posted on February 10, 2018 at 6:41 pm
Ted Mansfield | Category: Buying a home, Finance, Investment, Mortgage, Real Estate, Selling your home | Tagged , , , ,

Eastside Market Review – 4th Quarter 2017

Our Eastside Market Review is now available for the fourth quarter of 2017.

You can read the full report online by clicking the image below.

Eastside Market Review Q4 2017

Posted on February 7, 2018 at 3:29 pm
Ted Mansfield | Category: Buying a home, Investment, Luxury market, Mortgage, Real Estate, Selling your home

Where Are Mortgage Interest Rates Headed in 2018?

Where Are Mortgage Interest Rates Headed in 2018? | Simplifying The Market

The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.

Below is a chart created using Freddie Mac’s U.S. Economic & Housing Marketing Outlook. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.

Where Are Interest Rates Headed? | Simplifying The Market

How Will This Impact Your Mortgage Payment?

Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.

According to CoreLogic’s latest Home Price Index, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.

If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.

Bottom Line 

Even a small increase in interest rate can impact your family’s wealth. Let’s get together to evaluate your ability to purchase your dream home.

Posted on February 7, 2018 at 3:26 pm
Ted Mansfield | Category: Finance, Investment, Mortgage, Real Estate

5 Reasons Millennials Choose to Buy

5 Reasons Millennials Choose to Buy [INFOGRAPHIC] | Simplifying The Market

 

Some Highlights:

  • “The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.”
  • The top reason millennials choose to buy is to have control over their living space, at 93%.
  • Many millennials who rent a home or apartment prior to buying their own homes dream of the day when they will be able to paint the walls whatever color they’d like, or renovate an outdated part of their living space.
Posted on January 26, 2018 at 12:52 pm
Ted Mansfield | Category: Buying a home, Community, Investment, Real Estate

Eastside Market Review Q1 2016

The lack of available homes for sale on the Eastside remains critical. Inventory, which traditionally increases in the spring, continued to shrink. As demand far outstripped supply, home prices on the Eastside overall increased by double-digits over the last year!

 

Posted on April 25, 2016 at 8:42 am
Ted Mansfield | Category: Finance, Investment, Luxury market

Eastside Market Review

 

The Eastside Market 2nd Quarter statistics are in and they're pretty amazing! 

  • 55% of houses listed sold ABOVE asking price in under 7 days!
  • 20% sold at the listing price in just under 17 days
  • Only 25% sold at under asking price
  • The median price is up 6% to $640,000. This is the highest region in King County!
  • The Eastside market ranges from only .7 months of supply to 1.7 months of supply.

What does this mean to you? It's a SELLER'S MARKET. If you are contemplating selling your home in the next year, NOW would be a perfect time to do so. Families with children are looking to move now since school let out and they want to settle in their new school districts or neighborhoods before the school year starts. 

https://windermereeastside.files.wordpress.com/2015/05/eastside-q2-2015.pdf

 

Posted on July 14, 2015 at 10:04 am
Ted Mansfield | Category: Finance, Investment | Tagged , , ,

Eastside Market Update

Here's a market update for June activity – records set. The trend we've been seeing continues – extremely low inventory and increasing prices. What's that mean? Sell now! It's an extremely strong seller's market. Does that mean wait to buy? Absolutely not. Prices keep going up, and with interest at such lows (and a potential rise in the near future), your buying power is stronger now than it will likely be in the future…

Posted on July 9, 2015 at 1:48 pm
Ted Mansfield | Category: Finance, Investment, Mortgage, Uncategorized