Tuesday, April 25, 2017

4 Signs Now’s the Right Time to Sell Your Home

Time to sell your house? Have you been on the fence, well then here is some good news: It’s a great market for sellers! The limited inventory continues to drive home prices up, and the latest data from the National Association of Realtors shows that 50% of recently sold properties were on the market for just 39 days!

Of course, market conditions shouldn't be the only determining factor for a home sale. You have to take your personal situation into account...

Here are a few other things to keep in mind before planting a For Sale sign in your front yard.

You’re Out of Debt With Cash in the Bank

Be money-smart and start by taking a good hard look at your finances. If you’ve paid off all your non-mortgage debt and have 3 to 6 months of expenses in reserves, that’s a great sign you’re financially stable enough to purchase a home again. Rockland Financial can help you list your home for sale and with your new house hunt as well as getting your pre-approved for your financing. We will help you A to Z...

Got Equity on Your Side?

The times when people owe more on their homes than what they are worth are in the rear view. When the housing bubble burst, home values plummeted, thankfully, the tide has turned.  According to CoreLogic, only 8% of homes with a mortgage had negative equity at the beginning of 2016, a great stat. If you’re not sure where your equity stands, ask an experienced real estate agent ME again, to run a free comparative market analysis (CMA) to determine an approximate value for your home.

It could be worth selling, if your home has recovered enough value to provide at least 20% equity for your next purchase. 20% a magic number? Maybe, because putting 20% or more down on a home keeps private mortgage insurance (PMI) out of the picture. That could save you hundreds even thousands of dollars each year!

Your Home No Longer Fits Your Lifestyle

Another factor to consider is how well your home meets your everyday needs. Perhaps you could use another bedroom or two or even three to accommodate your growing family. Or maybe kids are gone  and downsizing is the goal.

Empty nesters can really benefit from selling now. It can feel very liberating to sell a large home, pay cash for a smaller one, and invest the rest in your retirement.

Whether you’re sizing up or down, make sure your mortgage fits your budget.We can help you calculate and figure out the best scenario for your current situation.

You Can Afford the Move

Don’t think too far ahead, remember about some of the expenses you may need to account for in making a move. Hiring movers? Save up cash to cover the cost of packing up and hauling your stuff away.

Give your house a little TLC before listing it for sale:
  • Paint: Paint is probably the number-one investment when upgrading. Buyers love a fresh coat of paint
  • Curb appeal: You only get one chance to make a first impression. Plant flowers, trim shrubs, and paint the trim. Inexpensive ways to get the most bang for your buck
  • Kitchen and bath: You probably don’t need to invest in expensive appliances or countertops, but new faucets and fixtures could go a long way.
*This won't cost you a penny, Clear out the clutter. Neat closets and tidy shelves make your home look larger and cleaner.

Make the Right Choice for You

There is no magic formula for determining the right time to sell your home. Partner with a pro you can trust (ME) to provide honest advice so you can do what’s best for you and your budget. I always put service and my clients best interest before sales or loans—but if it's the right time, rest assured, I will get it done.

We will help you List
We will help you Buy
We will get you the best loan to meet your financial conditions.

Friday, April 7, 2017

Does it cost more to own than to rent, Yes... BUT

Owning a home is often considered the American dream and it's an expensive one. Homeowners in all states and Washington, D.C., can pay anywhere from 33% to 93% more for housing each month than do renters living in the same state.

The upside? Many homeowners reap benefits that renters cannot, such as financial security and stability, tax deductions and a sort of forced retirement savings. Every time you make a mortgage payment, you get closer to fully owning the home. The equity you build can be collateral for loans like cash-out refinances, home equity loans and lines of credit that can be used to improve the home, boost its value or be used to consolidate debts and in financial emergencies.
While renting can't offer those long-term financial benefits, it is cheaper to rent on a month-to-month basis obviously. If you're considering buying, before entering the market, contact Rockland Financial  to estimate the costs and compare mortgage rates so that we can find you the best deal.

Let us help you determine where you stand and provide you with a financial analysis that will assist you in determining your best course of action.

Key takeaway
  • Owning is more expensive everywhere. Across all 50 states and Washington, D.C., it costs more each month to own a home than to rent. However the benefits are there and if it is in your financial resources to be a homeowner, there is no time like the present.