Marilyn Ellis, CBR, CHMS, LMS, HAFA
Leading Edge Real Estate | 781-944-6060 | [email protected]


Posted by Marilyn Ellis, CBR, CHMS, LMS, HAFA on 12/27/2018

Want to acquire the perfect home at the perfect price? You're not alone. As such, you'll likely need to allocate significant time and resources to your home search if you hope to transform your dream into a reality.

Lucky for you, we're here to help you navigate the real estate market so you can move closer to purchasing a top-notch house at a budget-friendly price.

Now, let's take a look at three tips so you can buy your ideal home at a price that matches or exceeds your expectations.

1. Establish Realistic Homebuying Goals

Although you may have lofty dreams of purchasing a deluxe house quickly, it may take some time to find a house that fulfills your needs.

Setting realistic expectations for a home search is ideal for property buyers. With realistic goals, you may be able to avoid disappointments and frustrations along the homebuying journey.

Evaluating the current real estate market often offers a great way to help you map out your homebuying plans. This will enable you to examine the prices of assorted homes, determine which houses you like and define a price range for your ideal house.

Also, it never hurts to look at the prices of recently sold houses, either. This will allow you to see how quickly residences are selling and determine whether you're about to enter a buyer's or seller's market.

2. Get Pre-Approved for a Mortgage

You know that you want to own a house, but how do you intend to pay for it? Ultimately, you may want to get pre-approved for a mortgage – something that can help you accelerate your journey from homebuyer to homeowner.

Meet with banks and credit unions to learn about all of the mortgage options that are available. Then, you can choose a mortgage that will help you avoid the temptation to overspend to acquire your ideal home.

When you consult with banks and credit unions, be sure to ask plenty of mortgage questions as well. That way, you can learn about the ins and outs of various mortgage options and select a mortgage that suits you perfectly.

3. Collaborate with a Real Estate Agent

A real estate agent is a housing market expert who is happy to help you make your homeownership dreams come true.

Typically, a real estate agent will set up home showings, keep you informed about new residences as they become available and offer honest, unbiased homebuying recommendations. He or she will even negotiate with property sellers on your behalf, ensuring you can get the best price on any home, in any real estate market.

With a real estate agent at your side, you can receive expert guidance throughout the homebuying journey. In addition, a real estate agent will respond to your homebuying concerns and questions, guaranteeing you can make informed decisions time and time again.

Ready to acquire your dream home at your dream price? Use these tips, and you should have no trouble purchasing a terrific house without breaking your budget.




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Posted by Marilyn Ellis, CBR, CHMS, LMS, HAFA on 12/20/2018

In the internet age, we’ve all seen dream homes on Google, Pinterest, or Instagram that seem to encompass everything we’ve ever wanted in a home.

Sometimes, obsessing over dream homes can be detrimental to us--making us feel bad about our own living situation or discouraged about ever being able to afford the home we truly want.

However, dream homes can serve a purpose when it comes to identifying what we really want out of a home.

In today’s post, we’re going to use the idea of a dream home “wish list” to help you narrow down what really matters to you and your family in your next home.

Step 1: Start by making a list of your dream homes

This is the easy part. If you’re like me, you probably have a Pinterest board or bookmark folder just for home inspiration.

Put all of the dream homes on your list. The order doesn’t matter, and you’ll find out why below.

Step 2: For each home, write down one or two of your favorite things

Is it the square footage? The location that’s perfect for your commute or for trips to your favorite places? Or, is it just the color scheme of the kitchen?

No aspect is too small for this list--it all depends on what you like, not what the price tag is.

Step 3: Go over your list and try to put the items in order of how much they matter to you.

An example would be:

  1. A cheerful, bright colored kitchen

  2. A cozy office to wok quietly in

  3. A two-car garage

  4. A playroom for the kids

  5. A location that’s close to the water

Looking over these five things, there are only two items that can’t be found in most houses, a two-car garage and a location that’s near the water. And, this house-hunter didn’t even list those items as the most important.

So, what can we learn from this exercise? Oftentimes, the things we’re looking for the most in a home can be things that we can do later, like interior decorating or designating spare rooms to serve as an office or playroom.

Step 4: Use your top 3 when house hunting

Now that you have the top three things that you’d find in your dream home, take this list with you on your house hunt. Try to seek out a home that has a combination of these items and one that will be the most practical for your family.

You might find that these conveniences, such as being closer to your work for a shorter commute, will pay off in the long run, as they’ll let you spend more time with our family and make each day a little bit easier.




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Posted by Marilyn Ellis, CBR, CHMS, LMS, HAFA on 12/13/2018

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, we’re 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 buyer’s experience.

If you’re interested in learning the steps you’ll need to take before owning your first home, read on.

Step 1: Know your long-term goals

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

These questions may seem obvious, but it’s 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 you’re 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 you’ll be approved for. You’ll 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 don’t 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. They’ll be able to guide you through the process and provide you with information that you can’t get anywhere else.

Step 5: Pick the right home for you

Now it’s time to start home shopping. However, before you begin, remember that getting approved for a loan doesn’t 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 Marilyn Ellis, CBR, CHMS, LMS, HAFA on 11/15/2018

A property deed is used to transfer the title of the property of a grantor (the seller) to a grantee (the buyer). For the deed to be active, certain conditions must be set in place. The property must have a complete and accurate description. The buyer and seller must also be clearly identified. This formulation is due to the fact that a deed is a signed legal document.


The deed has a few important requirements for it to be valid and legal. First, the deed must be in writing. Next, the grantor must have some sort of a legal capacity (represented by a lawyer) and the grantee must have the competent ability to receive the property grant. Finally, the deed must actually be accepted by the grantee. 


Although this process sounds complicated, it’s usually prepared ahead of time and done at the closing of a property transaction. Different states have different rules and procedures that allow for the transfer of ownership of property, so be sure to check on the specifics in your area.


Different Types Of Deeds


There are many different kinds of deeds. Deeds can be official or private. The type of deed that we are specifying here is known as “official” since the transaction is executed in agreement with legal proceedings. This is just one reason why every home buyer, no matter where you live, is important. Deeds are typically characterized by the type of warranty that they carry.


General Warranty Deeds 


These deeds actually offer the grantee the largest amount of protection. The grantor of this deed makes a series of promises that protect the grantee from prior claims and demands to the land. This document would state that the property is free of liens, unless specifically stated on the deed itself. This also protects the grantee (the buyer) from a defective title. This is the most desirable type of deed. 


Special Warranty Deeds


A special warranty deed defends the title of the home. The grantor certifies that they have received the title to the property and that nothing has happened while the title has been in their possession that would create a major defect on the property. This means that only defects that occurred on the property while the grantor owned it are valid. This provides less protection than a general warranty deed does. Many buyers will insist that they have a general warranty deed instead in order to feel protected in the property transaction.


Other Types Of Deeds To Be Aware Of


  • Quitclaim deed
  • Special purpose deeds
  • Executor’s deed
  • Administrator's deed
  • Sheriff’s deed
  • Tax deed
  • Deed of gift

 

As a homeowner, much of the legal jargon that’s involved in the transfer of title isn’t something that you need to study up on. The important thing to know is that the deed is the means of the transfer of title. The deed must also meet certain conditions for it to be legally binding. The type of deed that you have determines the type of protection that the deed provides. A qualified real estate attorney should be consulted regarding all legal matters in the home buying and selling process.




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Posted by Marilyn Ellis, CBR, CHMS, LMS, HAFA on 11/8/2018

Looking to buy a house without having to break your budget? Put together a homebuying roadmap, and you can increase your chances of finding a top-notch house that falls within your price range.

Ultimately, there are many things to consider as you put together a homebuying roadmap, such as:

1. Your Dream Home Definition

Differentiate your dream home must-haves from your wants – you'll be glad you did. If you can determine exactly what you want to find in your dream house, you can narrow your home search accordingly.

For example, if you need a home with multiple bedrooms to accommodate your entire family, you should include this information near the top of your homebuying roadmap. You then can kick off a search of multi-bedroom homes and move closer to finding your ideal residence.

2. Where You Want to Live

Do you enjoy life in the big city? Or, would you prefer to settle down in a small town? Think about where you would like to call home so that you can effectively plan your homebuying journey.

Ideally, you should try to refine your home search to a small collection of cities and towns. This will enable you to speed up your home search and ensure you can find a house that suits you perfectly.

Keep in mind your day-to-day activities as you consider where you want to live too. For instance, if you work in the city, you may want to pursue houses in or near the city itself. On the other hand, you may be able to purchase a small town home for less than what you would have to pay for a city residence and commute into the city for work.

3. Your Homebuying Timeline

Determine how quickly you'd like to finalize a home purchase. That way, you can map out exactly how you want to approach the housing market.

If you are committed to buying a house as soon as possible, you'll need to be proactive. The top houses sell quickly, and if you don't act fast, you risk missing out on your dream residence to a rival homebuyer.

Conversely, if you can afford to be patient, you can avoid pressure throughout the homebuying process. In this scenario, you can pursue houses at your convenience. And once you find the right home, you can submit an offer and finalize your home purchase.

When it comes to creating a homebuying roadmap, it generally helps to get support from a real estate agent. In fact, this housing market professional can provide plenty of assistance throughout the homebuying journey.

A real estate agent will learn about your homebuying goals and help you develop a successful homebuying roadmap. Furthermore, he or she can keep you up to date about new homes as they become available and make it easy to discover a wonderful residence at a budget-friendly price.

Ready to get started on the process of purchasing a house? Consider the aforementioned items as you create a homebuying roadmap, and you can plan a successful homebuying journey.




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Marilyn Ellis, CBR, CHMS, LMS, HAFA