Tom Ruble - EXIT New Options Real Estate



Posted by Tom Ruble on 11/9/2018

You know when you buy a home that your credit score matters, but do you see all of the numbers that matter to your financial picture when youíre buying a home? Your debt-to-income ratio is one of the most critical figures that will influence if you can get a mortgage and what type of rate you can get. 


What Is A Debt-To-Income Ratio?


This number is exactly what it states: the ratio of debt divided by your gross monthly income. Your credit report doesn't include any of this income information. This number is actually the best way to see if youíre living within your means or not. This way, your lender will know your monthly debt payments along with your monthly income.  


If your ratio of debt is high, you may not get a loan or get less desirable interest rates than if you had lower amounts of debt. Even if you have a high credit score, your debt-to-income ratio could affect these things. In reality, a higher debt ratio will make it harder for you to pay back your debt, so itís important to you. 


How Itís Calculated


You can use an online tool to help you calculate your debt-to-income ratio. You can also use a simple formula if youíre up for doing some math yourself:


Divide your monthly debt payments by your monthly gross income then multiply that number by 100. For example:


Student loans: $400

Car loan: $300

Rent: $700

Income: $4,000 


1400/4000= 0.35 x 100= 35%


Household Ratio


You should also be aware of something called your household ratio. The household is the amount of home-related expenses which includes property taxes, prospective mortgage, home insurance, and more. These costs are divided by your monthly income to get this ratio as well. Obviously, your household debt adds to your financial commitments and is also put into consideration by your lender.    



Whatís A Good Debt-To-Income Ratio?


Itís ideal that you keep your ratio less than 36%. Your household ratio should be even lower than this. Itís great to be debt free, but in the real world, thatís not always possible. Your best bet is to be responsible with your finances and work on paying your debt down as much as you can. Then, little by little all of the critical numbers that are required to get a mortgage will fall into place.  

    






Posted by Tom Ruble on 11/8/2018

Ranch Style home on Corner Lot surrounded by Fruit Trees. Former Home Based Winery in need of Major TLC. Condition of Septic is Unknown and is Buyer's Responsibility. Property Being Sold "as is". Will not qualify for most types of financing. Cash is Best, but may qualify for Rehab loan.

More Info on this Property | New Listing Alerts





Posted by Tom Ruble on 11/2/2018

Curb appeal is paramount for a home seller. Because if you allocate time and resources to enhance your house's curb appeal, you may be better equipped than ever before to enjoy a successful home selling experience.

There are many reasons for a home seller to improve his or her house's curb appeal, and these are:

1. You can differentiate your house from the competition.

The real estate market is fierce, and as a home seller, it is important to look for any competitive advantage. Fortunately, upgrading your house's curb appeal may help you differentiate your residence from the competition.

Remember, a home with a beautiful front lawn, flawless siding and other dazzling exterior features is more likely than other houses to make a positive first impression on buyers. If you improve your house's curb appeal, you can make your residence an attractive choice to homebuyers. And as a result, homebuyers may be drawn to your residence as soon as it becomes available.

2. You can boost the likelihood of maximizing your home sale earnings.

Optimizing the value of your home sometimes can be difficult, particularly for a seller who is unsure about how to list a residence and promote it to potential buyers. If you enhance your house's curb appeal, however, you may be able to maximize your home sale earnings.

A home with great curb appeal is likely to stand out to potential buyers, and as such, lead to many home showings. Meanwhile, if buyers like what they see, there could be lots of competition to acquire this residence. And if a seller receives multiple offers to purchase his or her home, this individual could reap the benefits of a profitable home selling experience.

3. You can speed up the house selling process.

The home selling process may be long and challenging, especially if a seller enters the real estate market without a strategy in place. Thankfully, a seller who improves his or her house's curb appeal can speed up the home selling cycle.

A house that makes a memorable first impression on buyers may prove to be a popular choice, regardless of the current real estate market's conditions. If a seller enhances a home's curb appeal, this individual can make it simple for buyers to fall in love with his or her house right away.

If you need assistance as you get ready to list your home, you may want to collaborate with a real estate agent as well. This housing market professional can offer tips to help you improve your residence's curb appeal. Plus, as you proceed along the home selling cycle, a real estate agent will help you determine the best course of action.

Prioritize your home's curb appeal Ė you'll be glad you did. If you dedicate time and resources to improve your house's curb appeal today, you could bolster your home's appearance and make your residence a top choice in a competitive real estate market.





Posted by Tom Ruble on 10/26/2018

Ready to kick off your search for the perfect house? You may need to find an expert real estate agent first. By doing so, you can streamline the homebuying process and discover a house that meets or exceeds your expectations.

However, selecting a real estate agent can be tricky, especially for first-time homebuyers. And if you make the incorrect choice, the risk increases that you may encounter problems as you conduct your search for the ideal residence.

We're here to take the guesswork out of finding the right real estate agent to guide you along the homebuying journey.

Now, let's take a look at four questions that every homebuyer needs to ask a real estate agent.

1. What is your real estate experience?

Learn about a real estate agent's housing market experience Ė you'll be glad you did. With this information at your disposal, you can find out how a real estate professional has helped past homebuyers achieve their goals.

Also, ask a real estate agent about how he or she deals with homebuying challenges. This will enable you to find out whether a real estate agent can help homebuyers through tough times, or if a real estate professional struggles when he or she is faced with homebuying hurdles.

2. How do you communicate with clients?

As a homebuyer, it is essential to find a real estate agent who is readily available. This real estate professional will keep in touch with you at each stage of the homebuying journey and ensure you can make informed decisions along the way.

A real estate agent who prioritizes communication will keep you informed about open houses and new residences as they reach the housing market. As such, this real estate agent may help you accelerate the process of going from homebuyer to homeowner.

3. Can you provide client references?

Typically, an experienced real estate agent will be able to provide client references at any time. If you get in touch with these references, you can gain firsthand insights into what it might be like if you select a particular real estate agent.

If a real estate agent cannot provide client references, this is a surefire red flag. In this scenario, you may want to consider other real estate agents who have proven they know how to deal with potential roadblocks on the homebuying journey.

4. Why should I hire you?

When it comes to finding the right real estate agent, it is important to understand how a real estate professional stands out from the crowd. By asking a real estate agent why you should hire him or her, you're sure to receive a unique response that gives you a better idea about what this real estate professional is all about.

Spend some time reviewing multiple real estate agents in your city and town. And if you use the aforementioned questions, you can boost your chances of hiring a real estate agent who can help you discover your dream residence quickly and effortlessly.




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Posted by Tom Ruble on 10/19/2018

If you discover a house that you want to buy, it generally is a good idea to submit a competitive offer. That way, you can move one step closer to acquiring your ideal residence.

However, the hours after you submit a home offer can be stressful, particularly for a buyer who fails to plan accordingly. Lucky for you, we're here to help you stay calm, cool and collected as you wait to receive a seller's response to your offer.

Let's take a look at three tips to help you get ready to handle a seller's response to your homebuying proposal.

1. Plan for the Worst-Case Scenario

Even the worst-case scenario is not the end of the world for a buyer who is awaiting a seller's response to a home offer. In fact, if a seller rejects your proposal, you can always reenter the housing market and continue your pursuit of your dream home.

As you await a seller's response to your home offer, you should not stop searching for available houses. Because if you continue your home search, you'll have no trouble moving forward in the homebuying journey if a seller rejects your home offer.

2. Consider All of Your Options

If you submit a home offer and a seller says "Yes," what should you do next? Consider how you'll proceed if a seller accepts your proposal, and you'll be better equipped than ever before to enjoy a seamless homebuying experience.

On the other hand, it helps to prepare for a potential counter-offer from a home seller as well. If you are open to negotiating with a seller, you may be able to find common ground with him or her and finalize a home purchase.

3. Consult with a Real Estate Agent

A real estate agent knows all about the stress that is commonly associated with submitting a homebuying proposal. He or she can help you minimize this stress and ensure you can achieve the best-possible results throughout the homebuying journey.

Typically, a real estate agent will work with you to submit a homebuying proposal. This housing market professional then will keep you up to date as you await a seller's response to your offer. And if you have any concerns or questions during this time, a real estate agent is happy to respond to them.

A real estate agent will make it simple to streamline the homebuying journey too. For instance, if a home seller accepts your offer, a real estate agent will be ready to help you move forward with a property inspection and appraisal. Conversely, if a home seller rejects your proposal, a real estate agent will be prepared to work with you to help you discover another house that matches or exceeds your expectations.

The waiting period after you submit an offer on a house may prove to be a challenging time. Fortunately, if you plan ahead for this period, you can maintain your confidence and continue to move forward in the homebuying journey.




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