Author: Billy Simons

3 Psychological Hacks That Will Help You Sell Your Home Faster

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3 Psychological Hacks That Will Help You Sell Your Home Faster

From real estate agents to homebuyers, there are so many tips out there on how to sell your home that it can be overwhelming to determine which tricks will boost your success rate and make the sale. If you’re looking for a few sure-fire hacks for getting your home off the market quickly, the following may do a lot of the hard work for you so that selling won’t remain a worry for long.

Stick To A Neutral Palette        

Neutral colors like white and grey may seem like a boring approach to design, but they’re actually a great way to grab a potential buyer’s attention. While an especially bold color like red or dark blue can distract the viewer, neutral tones will not jar the eye and will enable the viewer to see the features that your home truly offers. Instead of a space they can’t see for the color, they’ll be able to pay attention to the details that really matter.

Discard The Oversized Items        

Most of us have an old, bulky piece of furniture that we still haven’t bothered to get rid of, but when preparing your home for viewings you may want to finally let go of this ostentatious piece. A bulky furniture item will make an undersized space look even smaller, whereas – in a large, sprawling space – it will swallow the size of the room. Instead of a large-scale item, stick to classy, medium-sized pieces that will effectively complement each other.

Keep Personal Items To A Minimum        

It may seem like personalizing your home, from pictures all over the fridge to movie posters, will add to its appeal, but it can actually take away from the impression that potential buyers will get. While a home that has a few personal touches here and there can make it more memorable, too many of these little details may actually make the viewer feel out of place. Since the end goal is an offer on your home, enabling potential buyers to imagine themselves in your space is key.

There are an endless amount of tricks involved in a successful home sale, but there are a few little hacks you can do that may work wonders on the minds of potential buyers. If you’re almost ready to put your home on the market and are considering your options for selling, you may want to contact one of our real estate professionals for more information.

Categories: Home Selling

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3 Tips and Tricks to Make Mortgage Pre-qualification Easy

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If you’re planning to buy a home, you should know that the mortgage pre-qualification process is the first in a series of steps that eventually lead to home ownership. A pre-qualification is different from a pre-approval – the pre-qualification meeting is simply you and your lender hashing out how much you can afford to spend on a property. But once you’ve been pre-qualified, it makes the mortgage process easier.

So how can you make the pre-qualification quick and painless so you can get on with your house hunt? Here’s what you need to know.

Get Your Debts In Order        

One of the major questions during the pre-qualification meeting will be your work history and debts. Your lender will use your social security number to look up your work history and determine your income and current assets, as well as your monthly debt payments. If you have a high amount of debt, you’ll want to do everything you can to pay it down before this meeting.

Chart Your Income And PITI        

Your lender will use a specific ratio (the PITI to income ratio) to determine how much it’s willing to lend you in order to buy a home – and that’s why, if you calculate this ratio beforehand, you’ll know what to expect going into the meeting. PITI stands for “Principal, Interest, Tax, Insurance” – and it refers to the four components of a standard mortgage payment. Your PITI ratio, then, shows how much of your income goes toward your monthly mortgage payment.

To calculate your PITI to income ratio, simply divide your gross monthly income by your monthly mortgage payment (your PITI fees plus your mortgage insurance). Most lenders will want to see a PITI to income ratio that is under 28%.

Build Out Some Mortgage Calculator Numbers        

It’s important that you have an idea of what to expect when you walk into your pre-qualification meeting. That’s why you’ll want to run some calculations of your own before meeting with your mortgage advisor. There are a host of online calculators that can help you to break down how your mortgage will work out.

Look for an online mortgage prequalification calculator offered by a bank or other mortgage professional. Organizations like FICO and Wells Fargo also offer prequalification calculators that make it easy to see what you can afford.

Pre-qualifying for a mortgage can seem like a daunting process, but it’s actually quite simple. Your mortgage advisor can help you to understand what goes into a pre-qualification. Contact your local mortgage professional to learn more about how pre-qualified.

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Worried about Your FICO Score? 4 Easy Strategies to Fix It Up

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If you’re worried about your bad credit, you’ll want to do everything in your power to improve your rating as quickly as possible – especially if you have a major purchase coming up. Improving your credit rating can give you access to better interest rates on mortgages or even help you to get that job you’re after.

So how can you boost your FICO score quickly and easily? Here’s what you need to know.

 Get Your Credit Report And Dispute Any Errors

Credit reporting agencies don’t always keep 100% perfect records, and there’s a good chance that your credit report contains at least one error. One recent FTC study found that 25% of consumers have an error on their credit report, and that in 5% of cases, the errors were actually severe enough to impact the loan terms that borrowers were able to negotiate.

You can get your annual credit report from all three credit reporting agencies for free. Carefully read over it. If you see any errors – if your name is misspelled, if they have the wrong address on file, or if there are late or unpaid charges that you didn’t make – you can dispute the items in question.

 Still Overdue? Negotiate Payment Terms With Your Creditors

If you’re overdue on a payment, it will weigh heavily on your credit score. As your payment history makes up a full 35% of your FICO score, this is one area where you’ll want to invest a great deal of time and effort.

Contact any creditors you owe money to and ask if you can negotiate your bill. The ideal outcome for you is to have the creditor report your debt as paid in full, so see if you can secure that promise in writing in exchange for an accelerated payment schedule.

 Try Maintaining A Lower Utilization Ratio

Your utilization ratio refers to the amount of credit you use at any given time. If this number goes beyond 30 percent, you’ll start to see your credit score drop. Ideally, you should aim for a utilization ratio below 10 percent – this will prove to your lender that you can responsibly pay for the credit you use.

 Have Recurring Bills? Automate Your Payments

Automating your monthly payments can be a great way to boost your credit score. Whether it’s your mortgage, your credit card, or your student loan, a pre-authorized monthly payment will ensure that everything gets paid on time and give you a great credit history.

Your FICO score is a number that will determine your eligibility for mortgages and other loans. Call your local mortgage professional to learn about what kind of a mortgage your credit score can afford you.

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3 Budget-friendly DIY Weekend Renovations to Step into Spring

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The springtime is often the best time of the year for cleaning up and getting rid of old items, but with its proximity to the winter months it can still be hard to commit to large-scale renovations. If you’re looking for some small fixes to give your home a seasonal boost, here are a few options that won’t take up a lot of time.

 

        Freshen Up The Window Frames        

 

Paint can instantly enhance the brightness of any room, but deciding to repaint can be a job that takes more than just a weekend. Instead of committing to everything, paint your window frames for a task that is cheap and doesn’t require a huge expenditure of time. Since the eyes will naturally be drawn to the windows in any room, this will serve to improve your space without all the work that goes into sanding and taping everything.

 

Add An Accent With Wallpaper        

 

A creative, striking way to upgrade the look of your home is a wallpaper accent that will be easy to install but add trendy appeal to your home’s aesthetic. Instead of going for the same old, choose a wallpaper with a funky design to the area of your choice. By placing it behind a mirror or another picture, you’ll add a lot of oomph without all of the effort that goes into completely repapering a wall. It’s just important to ensure you use an adhesive wallpaper that can be repositioned in the event your first attempt doesn’t work out.

 

        Replace An Old Fixture        

 

It doesn’t necessarily take a lot of legwork to easily revamp a stale space, so consider a light fixture that will instantly draw the eye and can serve as a high-impact piece that really sets the tone for your chosen space. While you’ll want to choose something that won’t completely contrast with the style already present, the right piece can really enhance and modernize what you already have. It’s just important to turn off the breakers before you start fiddling around with installation.

 

The idea of home renovations can make people think of large scale projects that consume a lot of time, but there are plenty of little things to be done that will make for big changes without an excess of effort. If you’re making some upgrades and are preparing to put your home on the market, you may want to contact one of our real estate professionals for more information.

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