Pamela Bailey
RE/MAX On the Move | Insight | Advantage | 603-770-0369 | [email protected]


Posted by Pamela Bailey on 5/12/2021

Photo by GaudiLab via Shutterstock

In the rush and excitement to find the perfect home and make it yours, there are some things best learned beforehand rather than through hindsight. Here are some suggestions from first-time homebuyers that would have made the entire process less challenging.

Know where you stand.

If you plan to buy a home, even if it’s a couple years out, you need to assess your current creditworthiness so that you can move the needle to improve your credit score. Making sure that your credit reports show the correct information is not something to leave to chance.

  • Order your credit reports from each of the three major reporting agencies (TransUnion, Equifax, and Experian).
  • Review all the entries carefully. Sometimes, credit card accounts have different names on the credit report than on your card, so review your statements to match up accounts with their identifiers.
  • If you find mistakes, request a review with the credit agency. All three have error mitigation instructions on their websites. Follow the instructions carefully.
  • Review any slow pays and rearrange your payment schedules so that you’re up-to-date and on-time for everything.

Create your budget.

While this doesn’t work for everyone, a good rule of thumb is to keep your home price within two and a half times your annual income. That means if you make $80,000 per year, set your budget at $200,000 or less. If your income calculation includes dual partners or spouses, but you intend to add children to the household, consider how you might eliminate that second income. If you calculate your purchase based on one income your budget is more secure.

Determine your down payment.

First-time homebuyers typically qualify for FHA loans with just a 3.5% down payment. Others may be eligible for VA, USDA or Conventional 97 LTV programs too. But with less paid down, your mortgage payments increase because the loan is higher and includes the added cost of Private Mortgage Insurance (PMI). If you can put more down to get a better rate and reduce your mortgage payment, consider it. Conventional loans usually ask for a 20% down payment, but you’ll often get better interest rates and lower payments.

Decide on a loan term.

A fix-rate mortgage for 30 years is the norm, but not the only option. You can find loan terms for 8 or 15 years too. If an adjustable rate works for you in the short term, you’ll find those as well, but if you choose an adjustable-rate only because you couldn’t otherwise afford the home, you might want to wait or adjust your budget.

Get pre-approval from your lender.

Your bank looks at all your income, assets, credit history and other aspects. Getting the lender to give you an informal approval helps you determine if you’ll be able to borrow a specified amount of money to buy a home. Use the numbers your lender gives you to refine your budget.

When you’re ready, find a buyer’s agent to represent you in your home search and let the games begin.




Categories: Uncategorized  


Posted by Pamela Bailey on 5/5/2021


Preserving your resale value starts with spending time and money on small repairs rather than waiting until you need a major renovation. Luckily, there are home maintenance apps built for busy owners who have a lot of other responsibilities on their plate. Far more than just a glorified notes section on your phone, the wide variety of apps available means you can tailor the experience specifically to your property. We'll look at some popular apps so you can determine if they're right for you.

Appliance Management

Can't find the user manual for your dishwasher? Unsure of how to troubleshoot a stuck water valve? Apps like Centriq were designed to provide critical information about your appliances. All you have to do is take a photo of the product label, upload it into the app and access the data. The app can also alert you if there are any safety recalls to the appliances so you can keep your home safe.

Landscaping Management

Ignoring your soil, shrubs and flowers can make the entire property look neglected. Apps like iScape were designed to help people find plants that will accent the home's best features (and thrive in your climate). These augmented reality suggestions can make your yard more functional when you're there and more attractive to potential buyers when you're ready to put it on the market.

Chore Management

From changing filters to replacing batteries, standard home maintenance tasks are easier to keep up with when you have an app. Get the alerts you need and pare down your to-do list one by one. Apps like Househappy not only streamline information about your home's major systems (e.g., electrical, plumbing, etc.), but can also connect you to contractors if you have a question or if you have an issue that you're not quite ready to take on alone.

Project Management

If you're the kind of homeowner who wants to ramp up their DIY skills, apps like DIY Tip Genius are there to inspire. With ideas for every skill level, this can be a great way for anyone to dip their feet into the DIY pool. Whether you repaint, install your own shelves or do a mini-bathroom makeover, becoming more invested in your home sends a strong message to potential buyers. You're telling them that this property has been well-cared for.

Financial Management

The right financial tools can help you understand more about your equity and depreciation. Apps like HomeZada can tell you more about what you own and how values are changing over time. From insurance to home sale price, you can get a sense of how the forecast should impact your home maintenance plans. For example, does it make sense to replace or repair your roof if you're planning to sell a year from now?

The right home maintenance app depends on your interest, DIY skills and future plans. Those who are in a seller's market may only need to do so much maintenance to keep their home at the top of its game. No matter what, the technology can be a game-changer when it comes to simultaneously preventing major issues and improving the home's resale value.





Posted by Pamela Bailey on 4/28/2021

Image by Nathan Fertig from Unsplash

If you have decided to sell your home and it’s going on the market, you may have mixed feelings. It’s not unusual to feel stressed, nervous, and excited about listing your house — all at the same time. 

The selling process might create anxiety and worry about what is to come because you have little or no control over the market. Fortunately, you can do things that will put your mind at ease and ensure your home gets noticed and sells quickly. 

Before you list your property for sale, consider the following:

Hire a Selling Agent

The best option for selling your home is to hire an experienced listing agent. A selling or listing agent is one that represents the homeowner in all sales negotiations. Their expertise is in properly marketing the property to potential buyers, and preparing the seller with information about the process.

Spread the Word

Even if your property has not hit the market yet, that doesn’t mean you cannot start creating awareness about the ‘for sale’ status. The more interested individuals you can get before the house gets into the market, the higher the chances of you selling quickly. Let friends and family know that you plan to sell and give them your agent’s information to share.

Clean Out Your Excess

Just before you list your home, clean up and get rid of unwanted stuff. Getting your things organized, aside from making moving day easier for you, also declutters your home. Fewer personal items in the home allows buyers to see themselves occupying the property. Find a place to store family photos and heirlooms, important documents, and other items you need to protect when your home is open for buyers to view.

Start Staging

An excellent way to get buyers interested in your property is to accentuate its best features, which is part of the staging process. Staging is an essential part of the house selling process and one you should not ignore. Allow your agent to offer suggestions about what furniture should remain and what to put in storage during the selling period.

Plan for Your Pets

It can be stressful to have pets around when your home showing begins. Before your home is listed, have a plan for occupying your pets during a home showing. It could be helpful to find a local pet sitter or friend that can take your fur-buddy when your agent calls.

Set Expectations with Your Realtor

Before your property goes live, you should speak to your realtor about any expectations you might have concerning the home selling process. You should also ask questions about what to expect and inform your realtor if you have rules for buyers and their agents when they come to look at your property.

Improve Your Home’s Curb Appeal

Putting effort into the exterior of your home goes a long way to create a great first impression. After staging the interior of your home, spend some time on the exterior. Great curb appeal can decrease the time it takes your property to leave the market. Your agent can suggest curb appeal options that are trending in your selling market, seek their advice as you plan for improvements.

The period before listing your home is the time for you to get organized. As soon as your house gets into the market, you might be too busy to get things fixed. Let your agent guide you on the best use of your pre-selling efforts.





Posted by Pamela Bailey on 4/22/2021


274 Bay Road, Newmarket, NH 03857

Land

$750,000
Price

Are you looking for a beautiful waterfront lot where you could build a home w an apartment? This might be it! Antique farmhouse with four units, Two in the main house and Two above the barn sited on a beautiful two acre waterfront lot on Great Bay. Property also features a small pond.
Open House
No scheduled Open Houses






Tags: Real Estate   land   Newmarket   03857  
Categories: New Homes  


Posted by Pamela Bailey on 4/21/2021

Before you embark on a search for your dream house, it helps to know what to expect during the homebuying journey. If you understand the true cost of purchasing a home, you can map out your property buying strategy accordingly.

Now, let's take a look at three factors that may impact how much you spend to acquire your ideal residence.

1. The Price of a Home

The initial asking price for a house is not necessarily set in stone. In some instances, you may be able to negotiate with a seller and receive a lower price.

However, regardless of the price you negotiate with a seller, you are responsible for paying for a residence. And if you fail to receive a mortgage, you may struggle to make your homeownership dream come true.

It often helps to get pre-approved for a mortgage. That way, you can enter the housing market with a budget in hand. Pre-approval for a mortgage also may enable you to speed up your home search and ensure you can quickly discover a residence that falls within your price range.

2. Closing Costs and Other Homebuying Fees

After a seller accepts your offer to purchase his or her home, there may be various fees that you'll need to pay to finalize your house purchase.

For instance, a buyer who conducts a home inspection will need to pay for this evaluation. He or she likely will need to pay for an appraisal and any closing costs as well.

As you get ready to pursue a house, you may want to put aside extra funds for any potential costs you may encounter throughout the homebuying cycle. Because if you have the necessary funds at your disposal, you may be better equipped than ever before to seamlessly navigate the homebuying journey.

3. Moving Expenses

After you buy a home, you will need to relocate all of your belongings to your new address. To do so, you probably will require moving boxes and packing supplies to ensure your personal belongings can safely reach your new house. As such, you should account for these expenses prior to starting a house search.

Of course, you may want to hire a moving company too. If you want to find out what it costs to hire professional movers, you may want to receive quotes from multiple local moving companies sooner rather than later.

If you need help getting ready to search for a home, a real estate agent is happy to assist you. A real estate agent can offer lots of insights into the potential costs you may encounter at each stage of the property buying journey. In addition, a real estate agent will help you narrow your search for your dream house, conduct home showings and much more.

Start planning for potential costs associated with the homebuying journey – you'll be glad you did. If you budget for the property buying journey, you could increase the likelihood of enjoying a quick, stress-free homebuying experience.




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