November 30, 2023

IN THIS ISSUE

• 3 Things You’d Better Know Before Applying for a Mortgage—or Else
• An Effective Home Listing Can Get Your Place Sold
• Existing-Home Sales Receded 4.1% in October
• 5 Common Mistakes That First Time Home Buyers Commit and How to Avoid Them
• Massive Seller Missteps: 7 Things About Your Listing Photos That Give Agents ‘The Ick’

3 Things You’d Better Know Before Applying for a Mortgage—or Else

Unless you’re sitting on a ton of cold, hard cash, you’re going to need a mortgage to buy a home.

Unfortunately, you can’t just show up at a bank with a checkbook and a smile and get approved for a home loan—you need to qualify for a mortgage, which requires some careful planning.

So, how do you please the lending gods? It starts with arming yourself with the right knowledge about the home loan application process.

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An Effective Home Listing Can Get Your Place Sold

Where are you going to move to next? Will you find another house you love? Will the moving process go smoothly? They’re just a few of the dozens of questions you probably have if you’re getting ready to sell your home and look for another. But first things first: You have to find that buyer! The right real estate listing could make the difference between your home selling quickly, or not at all.

You may not have thought much about your real estate listing, but it’s a critical piece of the home-selling pie. Getting it wrong may not necessarily cost you a sale if your home is well-priced, located in a hot area, and you have great listing photos. But it could help you attract the right buyers if done well.

If you’re working with a good, experienced real estate agent, they are probably already following these tips (and, if not, it might be time for another agent!). Which brings us to our first tip:

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Existing-Home Sales Receded 4.1% in October

Existing-home sales dropped in October, according to the National Association of REALTORS®. Among the four major U.S. regions, sales slid in the Northeast, South and West but were unchanged in the Midwest. All four regions experienced year-over-year sales declines.

"Prospective home buyers experienced another difficult month due to the persistent lack of housing inventory and the highest mortgage rates in a generation," said NAR Chief Economist Lawrence Yun. "Multiple offers, however, are still occurring, especially on starter and mid-priced homes, even as price concessions are happening in the upper end of the market."

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5 Common Mistakes That First Time Home Buyers Commit and How to Avoid Them

Buying a home for the first time can be an exhilarating experience. With Millennials rapidly entering into the home buying market, and more options than ever when it comes to how people can find a home, opening the door to the real estate world can seem overwhelming and complicated. Fortunately, as almost everyone knows by now, the internet can provide you with enough resources to confidently approach any situation, and home buying is no different.

Here are five common mistakes that first time home buyers make and how you can avoid them.

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Massive Seller Missteps: 7 Things About Your Listing Photos That Give Agents ‘The Ick’

Listing your home for sale can be a lot like using a dating app. Wannabe buyers scroll through hundreds of photos, clicking only when they like what they see.

And first impressions are everything. Sellers have a brief chance to capture buyers’ interest and make them think your house could be The One. It all starts with making sure that your listing photos shine.

In the dating world, you wouldn’t post a photo of yourself with your ex, right? Because that would give a potential love match “the ick.” Likewise, in the real estate world, avoid instant turnoffs.

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