January 2023 Real Estate Roundup
One month down in 2023 and mortgage rates are below the recent highs and buyers are still wanting to buy. Buyers are wanting to get back into the market to buy when they were not able to in the past due to bidding wars. Some markets are still seeing bidding wars, though not as intense as previously seen. To brush up on your real estate knowledge check out the articles below from January 2023.
Home Buyer Inspection Checklist
When buying a home it is important to get it inspected by a professional home inspector. A home inspection will provide a health report of the home a buyer is considering buying. Too many issues could mean the home is not worth the current asking price and as a result the buyer may want to walk away. In this article by Bill Gassett he provides a checklist for what buyers should be paying attention to when getting a home inspected.
What is the difference between FHA, USDA and VA mortgages
Some of the commonly used mortgages by buyers include FHA, USDA and VA programs. Each has different eligibility requirements as well as offers different benefits and features as Luke Skar explains. In his article about VA, USDA and FHA mortgages Luke explains the down payment requirements, PMI requirements, closing costs and more. Buyers need to understand the mortgage programs available to them before sitting down and talking with a lender.
Commercial Property Problems and How To Fix Them
Buying a commercial property for investment purposes and not knowing how to handle some of the issues that pop up can lead to trouble. Tenants want a quality property and want to provide a quality experience to their customers. By having a building in tip top shape the owner can ensure happy customers which means happy tenants. In this article Michelle Gibson provides some solutions for fixing problems with commercial real estate properties.
Selling a House with Fire Damage
Just because a home has been damaged by fire does not mean it no longer has any value. In fact so long it as priced correctly there will be a buyer who is ready to buy any home regardless of condition. In this article by Andy Kolodgie he provides some tips on what homeowners should be doing after a fire and what options they have to deal with the home. A home with fire damage will have buyers ready to buy when as mentioned above it is priced correctly.
Choosing a Great Mortgage Broker
Mortgage brokers can connect you with many different loan types as well as different lenders all in one stop. Finding the right mortgage broker can be a challenge but Eric Jeanette provides some tips for finding the best mortgage broker. He also explains what advantages a mortgage broker brings to the table as compared to a bank that will be lending to you directly.
Tips for Getting the Best Mortgage Interest Rate Possible
Mortgages are a long-term commitment and getting the lowest interest possible can help the borrower save quite a bit of money over the life of the loan. In this article by Vicki Moore she provides helpful tips for ways to get the lowest mortgage interest rate possible. The savings will literally pay for themselves so anyone wanting to get a mortgage should read this article.
What is DTI and Why You Should Care?
The DTI or debt to income ratio is what mortgage lenders will look at when reviewing an application for a pre-approval letter and ultimately the mortgage itself. In this article by Kevin Vitali he provides an in depth look at the DTI calculation and what specifically lenders are looking at when they determine the number. Home buyers need to understand the DTI in order to best set themselves up for success when applying for a mortgage.
2023 Decorating & Staging Trends
Whether you want to buy a home, planning on selling soon or want to improve your existing home this article is for you. Knowing about the hottest decorating and staging trends can help direct the remodeling budget so that is spent well. Karen Highland covers the ideal things for flooring, bathroom remodels, kitchen remodels and more which will help with improving the value of a home.
The Impact of a Recession on Real Estate
The economy in general has been humming along for quite some time and as with most economic cycles when there is an up, there usually comes a down. The recession that happens in 2023 or 2024 (if it happens) will be one of the most anticipated recessions. In this article by Paul Sian he explores what kind of impact a recession will have on real estate. Whether you want to buy a home, sell a home or invest in real estate knowing how a recession will play out can help with planning.
Please share any real estate articles and videos in the comments below. Please also share what your goals are with regards to real estate.
Real Estate Roundup for January 2023 was provided by Greater Cincinnati Area Luxury Realtor Paul Sian of United Real Estate Home Connections. Paul is a licensed real estate agent in the states of Ohio and Kentucky and has over 16 years of experience. Do you have a home you are ready to sell now in Greater Cincinnati or Northern Kentucky? Be sure to contact me now!