Tom Ruble - EXIT New Options Real Estate



Posted by Tom Ruble on 4/20/2018

Buying a home is a process that can seem daunting and even a little scary to most first-time buyers. After all, being a homeowner is a huge financial and personal responsibility.

To make this lengthy process a bit more approachable, weíre going to break it down into five steps. While these five steps may be somewhat different for each person, depending on their own unique situation, they do comprise most home buyerís experience.

If youíre interested in learning the steps youíll need to take before owning your first home, read on.

Step 1: Know your long-term goals

Before you buy a home, youíll want to have a clear understanding of what you, your spouse, and your family want from the next five or more years. Youíll want to make sure the area youíre moving to can provide things like career advancement and opportunity, good schools for your children, and so on.

These questions may seem obvious, but itís an important conversation to have before making the long-term commitment of owning a home.

Step 2: Your budget and your needs

It might be tempting to hop online and start shopping for houses, but first you should get a clear idea of the size and cost of the house youíre looking for. This involves determining your budget, thinking about your credit and planning for your down payment.

Step 3: Mortgage pre-approval

Getting preapproved for a mortgage can be a great way to gauge the interest late and loan amount youíll be approved for. Youíll need to gather paperwork, including income information (pay stubs), tax returns, and W-2 forms.

Be aware that lenders will run a detailed credit report. Since credit reports count as an inquiry, they can temporarily lower your credit score by a few points.

Applying to several lenders within a short period of time can make a significant impact on your score. However, it will start to rise again within a few months if you donít open any new credit accounts or take out other loans.

Step 4: Get an agent

Real estate agents know the ins and outs of the home buying process better than anyone else. Theyíll be able to guide you through the process and provide you with information that you canít get anywhere else.

Step 5: Pick the right home for you

Now itís time to start home shopping. However, before you begin, remember that getting approved for a loan doesnít mean you must or should seek to spend the full amount on a home.

Plan for your needs, and keep the future in mind. Someday you might decide to upgrade, but in the meantime you can be building your credit and building equity in a smaller or more frugal home.





Posted by Tom Ruble on 4/6/2018

Everyone defines the term "quality of life" differently, but if you asked 100 people, you'd probably hear a lot of similar answers.

According to a Gallup study entitled "The State of American Well-Being," the  basis for a good quality of life includes having a sense of purpose, feeling good about what you do every day, having supportive relationships, being motivated to achieve your goals, being able to effectively manage your finances, having the energy and health to pursue your interests, and sharing a sense of community pride. Feeling safe and liking where you live were also key ingredients in the formula for a high quality of life .

The Gallup/Sharecare report focuses on several aspects of community life, such as the role local governments play in offering amenities and resources to citizens. The study concluded that "communities that invest in active living, including bike paths, parks, walkability and public transit, have residents with better health and well-being outcomes."

While factors such as the quality of school districts and low crime rates are often foremost in the minds of house hunters, there's also a lot to be said for communities that offer public recreational facilities, educational programs, cultural events, and services that promote health, safety, and a clean environment.

Advantages that can help make one community more desirable and family friendly than another can range from free outdoor concerts and public tennis courts to the availability of farmers' markets and clean, updated playgrounds. Other features which can positively impact the quality of life in a community include well-maintained roads and bridges, the availability of dog parks, community parades, and programs to encourage the proper disposal of drugs, electronics, household chemicals, and recyclable products.

At the neighborhood level, quality of life is often measured by factors like noise, the condition of nearby properties, the overall safety and security of the area, and the amount of street traffic. Clean air, mature trees, and friendly neighbors can also contribute to a wholesome living environment that can be enjoyed for generations.

While there are many advantages to designing your own home or buying new construction, one might need to make short-term sacrifices when it comes to things like noise, neighborhood aesthetics, and other temporary inconveniences. Your real estate agent or home builder can probably fill you in on things like construction timetables and project completion dates.

If you're in the market for a new home, it's always a good idea to clarify in your own mind what you and your family needs to feel comfortable, happy, and secure. Creating a priority list of needs, desires, and preferences not only helps you stay focused in your real estate search, but also increases the probability that you'll be satisfied with your new home on a long-term basis.





Posted by Tom Ruble on 3/23/2018

A "lowball" homebuying proposal is unlikely to do you any favors, particularly if you want to acquire your dream residence as quickly as possible. In fact, after you submit a lowball offer, it may be only a matter of time before you receive a "No" from a home seller.

When it comes to buying a house, it helps to prepare a competitive offer. That way, you can increase the likelihood of getting a seller to accept your home offer and speed up the homebuying journey.

Now, let's take a look at three tips to help you avoid the risk of submitting a lowball offer on your dream residence.

1. Analyze the Housing Market

Are you searching for a house in a buyer's or seller's market? Are homes selling quickly in the current real estate market? And are houses selling at, above or below their initial asking prices? These are just some of the questions that homebuyers need to consider as they assess the real estate sector.

With a diligent approach to buying a house, a homebuyer can become a real estate market expert. This buyer can assess a wide assortment of housing market data, and by doing so, gain the insights that he or she needs to submit a competitive offer on any residence.

2. Understand a Home's Condition

A home purchase is one of the biggest transactions that an individual will complete over the course of his or her lifetime. As such, the decision to submit an offer on a house should not be taken lightly.

To make the best-possible choice, it helps to look at all of the available information about a residence. You should review a home listing closely and attend a home showing. In many instances, it may be beneficial to check out a house a few times to get an up-close look at it before you submit an offer.

The condition of a home will play a major role in how much you are willing to offer to acquire a residence. Therefore, you should learn as much as possible about a house's condition. And if you feel comfortable with a home, you should be ready to submit an offer that will match a seller's expectations.

3. Collaborate with a Real Estate Agent

Hiring a real estate agent generally is a good idea, particularly for a homebuyer who wants to reduce the risk of submitting a lowball offer on a house. A real estate agent can help a homebuyer prepare a competitive offer, as well as ensure that a buyer can enjoy a seamless home transaction.

Furthermore, a real estate agent will allocate the necessary time and resources to help you analyze a house. He or she will even offer homebuying recommendations and teach you everything you need to know about the homebuying cycle.

Avoid the temptation to submit a lowball offer on a house Ė use the aforementioned tips, and you can submit a competitive proposal to acquire your dream residence.




Categories: Uncategorized  


Posted by Tom Ruble on 2/23/2018

If youíre ready to buy a home, you probably have done a lot of research. One thing is sure: You know you need to get pre-approved for a mortgage. Itís perhaps the most critical step in the process of buying a home for a variety of reasons. Thereís down payments and debt-to-income ratios, and other financial issues to worry about. You need to know what type of mortgage you should get. To help you understand what kind of mortgage you need, you should get pre-approved.


Understand The Pre-Approval Process


There are many misconceptions about pre-approvals. First, buyers need to understand that there is a difference between a pre-qualification and a pre-approval. A pre-qualification merely scrapes the surface of your financial state, while a pre-approval goes through everything a mortgage company will need to grant you a loan. You may be pre-qualified for a much higher amount than you can actually afford, for example.


Pre-Approval Defined


A pre-approval is a lenderís written commitment to a borrower. The approval states that the lender is willing to lend a certain amount of money for a home. The lender obtains the following from the buyer:


  • Employment history
  • Credit report
  • Tax returns
  • Bank statements


The time and effort that it takes to get a pre-approval is worth it because everything will be ready for the lender to grant the mortgage once an offer is made on a home. It also gives the buyer an upper hand in finding the home of their dreams. Many sellers require a pre-approval with an offer.


When To Get A Pre Approval


As soon as you know youíre serious about buying a home and are ready to start the house hunt, you should get pre-approved. Pre-approvals do expire after a certain amount of time, but lenders can renew them with proper notice. 


The Importance Of The Pre-Approval


Many buyers feel that they can skip the pre-approval process altogether. It has many benefits. Besides giving you a better look at your finances and how much house you can afford, pre-approvals can:


  • Give you the insight to correct your credit score and help you correct credit problems
  • Help to avoid disappointment when you find a home you love
  • Allow first-time buyers to see all of the costs involved in buying a home


A pre-approval is a handy thing to have, and itís not just because the experts say itís essential. Getting pre-approved for a mortgage can help you to be more on top of your finances going into one of the most significant purchases you'll ever make in your life. 

 




Tags: Buying a home   Mortgage  
Categories: Uncategorized  


Posted by Tom Ruble on 1/12/2018

Before you even start the home search, research is key. There are a few areas that you should look closely at in every home that youíre touring in order to make an informed decision about each property and your future in it. 


Check The Foundation


When youíre walking around the home, note creaky floors, cracks in the walls, and water drainage issues. Maybe you wonít even be able to see if the foundation has any cracks in it or not with your own two eyes. A certified home inspector will, however, be able to tell you what is happening on the property. Cracks in the foundation or major foundational damage can be incredibly costly to you as a homeowner. Youíre going to want to know about these issues ahead of time. 


Do Some Investigating


Taking a walk around your desired neighborhood can give you a lot of valuable information. You may be able to talk to neighbors who will give you a bit of information about a property. Even wandering around the neighborhood or attending yard sales can help you to see whatís going on, if you can see yourself living there, and if there are any major issues that you should be aware of. 


Be Likable


Sellers prefer to sell a home to a buyer who they like. if you see that you have something in common with the seller like the fact that youíre both veterans, you should send a letter along with your offer to let the seller know your connection. Itís also helpful to send an offer letter that lets the seller know how much you love the house and that you can see yourself living in the home. It never hurts to add a personal touch to a home offer.  


Keep Your Options Open


Just because a home doesnít consist of the modern decor you picture yourself living in, doesnít mean it canít be changed. If a home happens to be older with less present-day decor in it, be sure to keep an open mind as to the potential that the home has for you.


Make A Strategic Offer


We know that prices that end in 9 are a bit more attractive to the psyche than prices that end in a flat zero. If the asking price for a home is $310,000, you may be tempted to offer $320,000 to shell out the competition, but you may be better off offering an odd number like $312,000. Sometimes a small difference makes a big impact in the eyes of the buyer. Work with your realtor to see if a home youíre interested in has any other offers. Your agent can help you to find a good price point for your offer as well.







Tags