Fall is officially upon us.  Many markets in and around the U.S. are still in a seller’s market with low inventory and homes that sell fast.  In order for buyers to be truly ready (whether buying a home to live in or an investment home) they need to have their pre-approval lined up and ready to go.  Buyers who think they can wait to make a decision on a house will be in for a disappointment as with the speed of houses going pending any hesitation can mean losing out on the house.  This month’s articles provide some great insight in real estate and provides plenty for buyers and sellers to educate themselves on the process.

Benefits Of The USDA Loan For Borrowers

The USDA mortgage offers a number of great benefits for those home buyers who can find a home to take advantage with it.  From no to low down payment, no mortgage insurance, seller paid mortgage costs, flexible credit requirements and more home buyers should keep in mind the USDA mortgage when buying a home as Luke Skar points out.  Home buyers should check to make sure their lender is knowledgeable about USDA loans and that the homes they are considering are in the areas served by the USDA mortgage program.

How Smart Home Technology Can Help Sell A Home Faster

In this article Sharon Paxson points out the specific types of smart home technology that is of more interest to home buyers and which can result in a home selling faster.   Technologies like smart lighting, smart thermostats, video doors bells and others definitely attract buyers.  Of course there can be too much of a good thing and things like smart toilets or smart showers while may be interesting the complexity involved and the greater the chance of those items being unusable simply because they can’t connect could detract from the usefulness.

Mortgage Terms To Know

Whether you are buying a home or plan on refinancing knowing about the mortgage terms that will be used in the process is a great way to stay on top of everything.  In this article by Bill Gassett he provides the meaning of thirty five different mortgage related terms.  With a mortgage being a long term commitment knowing what the terminology means can help you from overspending on a loan .  Knowing what type of loan program works best for you is also critical and this article does a great job of keeping mortgage borrowers in the know.

Smart Tips For Improving Home Security

With low cost smart alarms, smart cameras, smart sensors and more protecting one’s home has never been easier nor more cost effective.  Many home alarm systems can be easily installed within 20-30 minutes by the homeowner and can be up in running in much less and all controllable from a smart phone as Michelle Gibson points out.  Homeowners can opt for one of a number of alarm companies to install as system as well if that fits within their needs. 

Buying A Home Vs Renting

Buying a home is not for everyone as depending on one’s lifestyle and circumstances sometimes it may make more sense to rent instead as Glenn Shelhamer points out.  Renters can have little to no maintenance costs, they don’t pay property taxes (directly), no need to worry about a large down payment and the overall transaction costs are pretty low when renting a home as opposed to buying a home.  The renter also has much more flexibility if they only need to stay in one place for a short period of time.  Homeownership as compared to renting also has its benefits as well.  Homeowners could qualify for tax deductions, they build equity, they have an asset that is being paid off and more.

Pre-qualification vs Pre-approval

A pre-qualification and a pre-approval are two different lender terms that home buyers need to be aware of.  Many lenders give out pre-qualification letters every day via the mail to potential customers who may be interested in buying a home.  Those letters are based on general information about their credit worthiness.  On the other hand a pre-approval letter is one where a buyer has had an in depth discussion with a lender and provided additional documentation to show they are a good credit risk.  John Cunningham covers the importance for serious buyers to get a pre-approval letter and how that will help.

Five Ways To Lower Closing Costs On An FHA Loan

While the FHA loan allows for a lower down payment, sometimes the closing costs are more expensive than a traditional mortgage.  That does not mean buyers should take everything at first value as Eric Jeanette points out.  Home buyers can negotiate some closing costs and can negotiate who can pay those costs.  By understanding what costs are negotiable or where they can come from a buyer using an FHA loan can make sure they are getting the best value for their home.

Earnest Money When Buying A Home

While earnest money can show the seriousness of a particular buyer it is not an absolute requirement to provide any earnest money.  Homes can be purchased without earnest money, but earnest money does show that a buyer is willing to put some money into the deal.  Most standard MLS contracts contain provisions for how the buyer can get their earnest money back based on certain contingencies.  For instance if the buyer cancels due to inspection issues, financing issues or appraisal issues during the proper time frames they can get their earnest money back.  Home sellers should not always consider the amount of the earnest money as a show of seriousness as sometimes buyers need to save up the money for other things like the down payment and closing costs.

Final Thoughts

Which articles struck you as important for your goals?  Were there any articles not on the list you found helpful?  Please drop your comments in the box below and let us know!

The Real Estate Roundup For September 2019 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 14 years of experience. Feel free to contact Paul for all your Greater Cincinnati and Northern Kentucky real estate needs.