What Can I do to Sell my House for the Highest Price?

by Jennifer Agramonte

Here are some things you can do to your house to help it sell for the highest possible price:

Clean and declutter your home. A clean, clutter-free home looks more spacious and inviting to potential buyers.
Repaint the walls and touch up any scuffs or scratches. Choose neutral colors that will appeal to a wide range of buyers.
Replace outdated light fixtures and switch plates with modern, energy-efficient ones.
Update the kitchen and bathrooms with new hardware, faucets, and fixtures. You may also consider replacing old appliances with newer, energy-efficient models.
Repair any leaks, cracks, or other issues in the roof, foundation, or walls.
Increase curb appeal by tidying up the yard, planting flowers, and giving the front door a fresh coat of paint.
Add smart home features, such as a programmable thermostat, smart locks, or a video doorbell. These can add value to your home and appeal to tech-savvy buyers.
Stage your home with modern furniture and decor to create a welcoming, comfortable atmosphere.
Make any necessary repairs to the HVAC system, plumbing, or electrical systems. A well-maintained home is more attractive to buyers.
Finally, price your home competitively based on the local market and the condition of your home. Work with a real estate agent to determine the right price and market your home effectively to potential buyers.

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All Blog Posts • Buying Tips • Finance • Selling Tips • March 28, 2023

What is the Difference Between Equity and Appreciation?

by Jennifer Agramonte

As a house hunter or new homeowner, it’s essential to understand the difference between home equity and home appreciation.

Home equity refers to the value of your property that you own outright, minus any outstanding mortgage or liens. Essentially, it’s the portion of your home that you truly own. So basically, if you have a home that’s worth $500,000, and you still owe $300,000 on your mortgage, your home equity is $200,000.

On the other hand, home appreciation refers to the increase in your home’s value over time. This can happen for a variety of reasons, such as a booming real estate market, home renovations or improvements, or changes in the neighborhood or city.

It’s important to note that home equity and home appreciation are related but distinct concepts. Your home equity can increase as you pay off your mortgage, but it doesn’t necessarily mean that your home has appreciated in value. Alternatively, your home can appreciate in value without increasing your home equity if you still have a mortgage or other liens on your property.

Understanding the difference between these two concepts is essential for homeowners who are looking to leverage their home’s value. Home equity can be used to secure loans or lines of credit, while home appreciation can be an indicator of a healthy real estate investment.

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All Blog Posts • Selling Tips • March 18, 2023

What is a CMA?

by Jennifer Agramonte

A real estate CMA, or comparative market analysis, is a tool used by real estate professionals to estimate the value of a property by comparing it to similar properties in the area that have recently sold or are currently on the market.

The process of creating a CMA involves researching recent home sales in the area and comparing them to the subject property in terms of location, size, age, and other relevant features. The goal is to identify homes that are similar in size, style, and location to the subject property, and then use the sales prices of those homes to estimate the value of the subject property.

A CMA can help sellers determine an appropriate listing price for their home, and it can help buyers determine what a fair price would be for a property they are interested in. It’s important to note that a CMA is not the same as an appraisal, which is a more detailed and formal evaluation of a property’s value by a licensed appraiser. However, a CMA can be a useful tool for real estate professionals and their clients to get a general idea of a property’s value.

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All Blog Posts • Selling Tips • March 18, 2023

How Accurate is Zillow’s Zestimate?

by Jennifer Agramonte

Zestimate is an automated valuation model (AVM) created by Zillow that provides an estimated value for a property based on various data sources and algorithms. While it can be a helpful tool to get an idea of a property’s value, it’s important to keep in mind that it is not always accurate.

The accuracy of Zestimate can vary depending on a variety of factors, including the availability and accuracy of data, the level of development in the area, the uniqueness of the property, and changes in the market. According to Zillow, the national median error rate for Zestimates is around 2% for on-market homes, meaning half of the Zestimates are within 2% of the actual sale price and half are off by more than 2%.

However, the accuracy can vary widely for individual properties and in certain areas. In some cases, Zestimates can be off by a significant margin. Therefore, it’s always a good idea to use Zestimate as just one data point when estimating a property’s value and to consult with a local real estate agent or appraiser for a more accurate valuation.

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Buying Tips • Finance • March 16, 2023

Why Should I Work With My Agent’s Preferred Lender?

by Jennifer Agramonte

Working with your agent’s preferred lender can offer several benefits when you’re buying a home. Here are some reasons why you might want to consider working with one of our preferred lenders:

Faster closing times: Preferred lenders have a relationship with your agent and are familiar with the home buying process, which can help speed up the closing process. They may also be able to provide faster pre-approval and loan processing times.
Competitive rates and fees: Preferred lenders often offer competitive rates and fees to earn the business of your agent’s clients. Your agent may also be able to negotiate on your behalf for lower rates or fees.
Streamlined communication: When you work with your agent’s preferred lender, communication is often streamlined between your agent, lender, and other parties involved in the home buying process. This can help ensure everyone is on the same page and can help resolve any issues that arise more quickly.
Accountability: Your agent’s preferred lender is accountable to your agent, and they are more likely to prioritize your needs and provide excellent customer service. If something goes wrong with your loan, your agent may be able to intervene on your behalf.

While you are not obligated to use your agent’s preferred lender, it may be worth considering the benefits they offer. However, it’s still important to do your research and compare rates and fees from multiple lenders to ensure you are getting the best deal for your situation.

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All Blog Posts • Buying Tips • Finance • March 16, 2023

I Need a Home Loan. Where Do I Start?

by Jennifer Agramonte

The Basics:

A home loan, also known as a mortgage, is a type of loan that enables individuals or families to purchase a property or a home. The loan is typically provided by a bank or other financial institution and is secured against the property being purchased.

When you take out a home loan, you borrow money from the lender to purchase your home, and you agree to repay the loan over a period of time, usually 15 to 30 years. The loan is repaid in regular installments, which typically include both principal and interest payments.

Home loans are usually categorized into two types: fixed-rate and adjustable-rate mortgages. With a fixed-rate mortgage, the interest rate remains the same throughout the life of the loan, providing the borrower with predictable monthly payments. In contrast, an adjustable-rate mortgage (ARM) has an interest rate that may change over time, depending on prevailing market conditions.

To qualify for a home loan, you typically need to meet certain requirements, such as having a good credit score, a steady income, and a down payment. The down payment is a percentage of the purchase price of the home that you pay upfront, and the amount required may vary depending on the lender and the type of loan.

Home loans can be a significant financial commitment, and it’s essential to carefully consider your options and make sure you can afford the monthly payments. It’s also crucial to shop around for the best rates and terms, as different lenders may offer different loan products and conditions.

Types of Home Loans:

There are several types of home loans available to prospective homeowners, including:

Fixed-rate mortgage: A fixed-rate mortgage is a home loan where the interest rate remains the same for the entire term of the loan, typically 15 or 30 years.
Adjustable-rate mortgage (ARM): An adjustable-rate mortgage is a home loan where the interest rate may change periodically over the term of the loan, typically every year or every few years.
FHA loan: An FHA loan is a government-backed mortgage insured by the Federal Housing Administration. These loans are designed to help low- to moderate-income borrowers and require a lower down payment than a traditional mortgage.
VA loan: A VA loan is a mortgage loan guaranteed by the Department of Veterans Affairs. These loans are available to active-duty military members, veterans, and their surviving spouses, and typically require no down payment.
USDA loan: A USDA loan is a government-backed mortgage loan for rural and suburban homebuyers who meet certain income requirements. These loans offer low interest rates and require no down payment.
Jumbo loan: A jumbo loan is a mortgage loan that exceeds the conforming loan limits set by Fannie Mae and Freddie Mac. These loans are typically used to purchase high-value properties.
Interest-only loan: An interest-only loan is a mortgage loan where the borrower only pays the interest on the loan for a certain period, typically 5 to 10 years. After the interest-only period, the borrower must start paying both principal and interest.

Where to Get a Loan:

There are several places where you can get a home loan from, and it’s important to research and compare options to find the best fit for your financial situation. Here are some places to consider:

Banks and credit unions: Traditional banks and credit unions offer home loans, and they can be a good option if you have a strong relationship with a financial institution. They may also offer discounts or special rates to existing customers.
Mortgage brokers: Mortgage brokers are professionals who work with multiple lenders to find the best loan for your needs. They can save you time by doing the legwork of shopping around for you.
Online lenders: Online lenders offer home loans through their websites and can offer competitive rates and flexible loan terms. However, it’s important to research online lenders carefully and make sure they are reputable before applying for a loan.
Government programs: The government offers several programs to help first-time homebuyers and those with low incomes, such as FHA and VA loans. These loans are backed by the government and often have lower down payment requirements and more flexible credit score requirements.

When considering where to get a home loan from, it’s important to compare interest rates, fees, loan terms, and customer service. You may also want to get pre-approved for a loan from multiple lenders to compare offers and find the best fit for your financial situation.

Overall, the key to buying a home is to do your research, and work with a trusted real estate agent. As your partner in the home buying and selling process, you have access to our preferred lenders.

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All Blog Posts • Lifestyle • Selling Tips • Wellness • March 10, 2023

What Are Some Benefits of Moving Closer to Family and Friends as a Senior?

by Jennifer Agramonte

There are many potential benefits of living near family or friends as a senior. Here are some of the most common ones:

Emotional support: As we age, we may experience losses such as the death of a spouse or friends, or decreased mobility due to health issues. Being close to family or friends can provide emotional support during these difficult times.
Social connections: Living near family members and friends can help seniors maintain social connections and reduce the risk of social isolation, which can lead to depression and other health problems.
Assistance with daily activities: Family members can help seniors with daily activities such as grocery shopping, transportation, and home maintenance. This can help seniors maintain their independence and improve their quality of life.
Health benefits: Seniors who live near family members may have access to better healthcare resources and be more likely to receive regular medical check-ups and screenings.
Cost savings: Living near family can help seniors save money on expenses such as housing, transportation, and healthcare.
Family involvement: Being near family members can provide opportunities for intergenerational activities, such as spending time with grandchildren, which can be rewarding and fulfilling.

Overall, living near family or friends as a senior can provide a sense of security, social connection, and support that can improve quality of life and well-being. If you are considering a move, give us a call. We can help guide you through every step of your real estate journey with confidence!

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All Blog Posts • Selling Tips • March 10, 2023

What is Deferred Maintenance and How Does it Impact My Home’s Value?

by Jennifer Agramonte

Deferred maintenance refers to the postponement of repairs or maintenance on a property that should have been done in the past. It is a common issue for homeowners who may neglect to address minor problems until they become more significant and expensive to fix.

Examples of deferred maintenance can include failing to fix leaky roofs, broken windows, malfunctioning heating or cooling systems, damaged siding or fencing, and more.

Deferred maintenance can have a significant impact on the value of your home. If your home has noticeable signs of wear and tear, such as peeling paint, broken windows, or leaking roofs, potential buyers may be less likely to make an offer or may offer less than the asking price. In addition, deferred maintenance can reduce the overall appeal of your home, making it less desirable to buyers.

Furthermore, if you delay maintenance for too long, it can lead to larger and more costly repairs down the line. Regular maintenance and repairs can help prevent damage and maintain the value of your home. If you’re planning to sell your home in the future, it’s important to address any deferred maintenance issues before listing it for sale to maximize your home’s value.

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All Blog Posts • Selling Tips • March 10, 2023

How Long Will it Take to Sell My House?

by Jennifer Agramonte

The length of time it takes to sell a house can vary widely depending on a variety of factors, including the local real estate market, the condition and location of the property, the asking price, and the marketing efforts of the seller and their real estate agent. On average, however, it can take anywhere from a few weeks to several months to sell a house.

Here are some of the key factors that can impact how long it takes to sell a house:

Local real estate market: The current state of the local real estate market can play a significant role in how quickly a house sells. In a strong seller’s market with high demand, houses can sell quickly, sometimes within days of being listed. In a buyer’s market with low demand, houses may take longer to sell.
Property condition and location: The condition and location of the property can also impact how long it takes to sell. A well-maintained property in a desirable location may sell more quickly than a property that needs significant repairs or is located in an area with less demand.
Asking price: Setting the right asking price for a property is critical. If the asking price is too high, it may take longer to sell, as potential buyers may be deterred by the price. If the asking price is too low, the property may sell quickly, but the seller may miss out on potential profits.
Marketing efforts: Effective marketing can help generate interest in a property and speed up the selling process. This may include professional photography, online listings, open houses, and targeted advertising.

Ultimately, the length of time it takes to sell a house can be influenced by many different factors. A house that is in demand, priced right, in good condition, and marketed well, can expect to sell as fast as similar homes in the area. It is important to work closely with a knowledgeable real estate agent who can help you navigate the selling process and make informed decisions that can help you sell your property as quickly and efficiently as possible. Browse our website to find out what makes Coldwell Banker Town & Country the right choice for helping you sell your home.

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All Blog Posts • Buying Tips • March 10, 2023

Do I Really Need a Home Inspection Before Buying a House?

by Jennifer Agramonte

Yes, it is highly recommended that you get a home inspection before buying a house. A home inspection is a crucial step in the home buying process that can help you identify any issues or potential problems with the property before you make a final decision to purchase it.

A home inspector will examine the property and provide you with a detailed report of their findings, including any defects, safety hazards, or major repairs that may be needed. This information can be used to negotiate with the seller for repairs or a lower purchase price, or it can help you make an informed decision about whether the property is right for you.

In short, a home inspection can help you avoid unexpected expenses and ensure that you are making a sound investment in your future home.

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