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Be Aware Of These Home-Buying Fees

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In addition to a down payment, here are some other expenses home buyers need to be aware of. “Just because you’re spending hundreds of thousands on a home doesn’t mean you should be comfortable throwing thousands of dollars at fees.”

Be sure to ask your lender or Realtor® any questions you have concerning the fees you’re being charged. In addition, your real estate agent may be able to help you negotiate the cost of some of these home-buying expenses.

Home inspection: Inspectors will look for any signs of structural issues, mold and leaks. They also assess the condition of the roof, gutters, HVAC, water heater, plumbing, electrical system, and more.

Appraisal: Mortgage lenders require an appraisal report to ensure that the property is worth the sales price agreed upon by the buyer and seller.

Loan application: Thelender will charge fees for running your credit report and processing your application. Be sure to ask for an itemized list of these charges.

Mortgage loan origination fees: These upfront costs, which are associated with underwriting and funding the loan, are quoted as a percentage (typically 0.5 to 1.5 percent) of the total amount borrowed.

Private mortgage insurance (PMI): Lenders generally require buyers to put down at least 20 percent of the purchase price of the home. Otherwise, PMI is required to protect the lender if the buyer should default on the loan. The PMI should be automatically canceled once the buyer reaches 78 percent of the loan-to-value ratio.

Tax service: This fee ensures that the seller’s tax payments on the property are up to date and that the buyer’s payments are correctly credited.

Property survey: This report outlines the boundaries, dimensions and major features of the property.

Title services: Title companies charge fees to cover the title search, notary costs, government filing fees, and more to ensure the buyer receives a clear title to the property.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

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Home Staging: Buyers Want To See Your Home At Its Best

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A 2018 survey from Home Staging Resource found that 85 percent of staged homes sold for 6-25 percent more than homes in the same market that weren’t staged. According to the National Association of Realtors®, the three most commonly staged areas are the living room (83 percent), kitchen (76 percent) and master bedroom (69 percent).

Consider these home-staging tips.

Living room: To eliminate dark shadows and enhance the decor, brighten up the room with chic lamps. Remove oversized furniture and arrange the rest in conversational groupings. When it comes to accessories, go for symmetry, which is most pleasing to the eye.

Kitchen: Clear everything off the countertops except for a pretty bowl of fruit or another decorative item. Pare down the dishes, utensils and appliances in your cabinets and drawers to make these storage areas look bigger. Scrub dirt, grime and stains from walls, cabinets, backsplashes, and floors. Clean and organize the pantry. Store trash cans in the garage.

Master bedroom: Consider replacing a king bed with a queen or full size to increase the available floor space. Pack up more than half of the clothes in the closets and then place remaining items on matching hangers. Store jewelry and other valuables in a safe spot. Be sure an attractive, neutral-colored comforter is the focal point of the room.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

Are You Looking To Update Your Interior Surfaces?

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The trendy styles for countertops, flooring and walls were revealed at The International Surface Event trade show this year.

It was reported that “Geometric designs, increasingly refined faux-hardwood porcelain tile and luxury vinyl-tile floor coverings were prevalent.”

Whether you’re updating your drab interiors for your own enjoyment or redecorating your home for resale, here are some highlights to consider.

Patterned tile: Increasingly popular choices for kitchen floors and bathroom walls are graphic encaustic (or inlaid) tile and arabesque mosaic tile.

• Quartzite: “The great thing about quartzite is it comes in so many colors, so a lot of it looks like marble, but it’s much stronger,” according to the National Stone Institute. “It’s good for countertops.”

• Faux wood: Selected for its easy maintenance and lower cost compared with natural hardwood, the wood look is available in materials such as laminate, porcelain and vinyl.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

Is There A “One-Size-Fits-All” Checklist For First-Time Buyers?

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Unfortunately, there isn’t one checklist to follow that meets all home buyers’ needs. However, here are some tips to help first-time buyers avoid making these five common mistakes.

1.     Choosing a home that’s too small. You may not be planning to have children when you buy your first house, but those plans could change in the next 3-5 years. A cozy two-bedroom bungalow tends to get very crowded after the second child arrives.

2.     Choosing a home that’s too large. A five-bedroom Victorian may feel luxurious, but owning such a spacious house before your family has grown into it can be costly. In addition, your tastes in housing styles may change over the years.

3.     Buying an underpriced property. You may stumble on a house that’s a great bargain: priced to sell fast. It may be because the owners need to move quickly and have priced their house below market value. However, there may be other reasons that the house is underpriced, which means you’ll have to deal with those issues whenever you sell.

4.     Investing in a fixer-upper. It’s tempting to buy a house with great potential and plan to rehab it yourself. Unless you really enjoy carpentry, plumbing and painting – and have lots of free time and cash on hand – you may find your dream home has morphed into a nightmarish money pit.

5.     Falling for the amenities. Maintaining lush landscaping, a huge vegetable garden, massive trees, a pool, and an oversized lot can easily steal all of your leisure time. As a new buyer, you may want to minimize the number of amenities you have to care for this time around.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

What 2018 Revealed About Home Buyers

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Last year’s typical home buyer was 46 years old, and 34 percent of all buyers had children under age 18 living at home, according to data compiled by the National Association of Realtors®. Here are some of the other findings in this annual profile, which is the longest-running buyer survey in America.

·         Married couples represented 63 percent of all buyers, 18 percent were single females, 9 percent were single males, and 8 percent were unmarried couples.

·         Due to the lack of inventory available for purchase, sales of new homes dropped from 16 percent to 14 percent.

·         The percentage of first-time buyers dipped slightly from 34 percent of all home buyers in 2017 to 33 percent in 2018.

·         Among repeat buyers, 12 percent bought multi-generational homes to accommodate either aging family members or young adults over age 18.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

Consumers Call For Sustainable Home Construction

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Sustainability is the key word in new home construction. Rising energy costs, poor air quality and wasteful water usage are driving the consumer demand for greener houses, according to the National Association of Home Builders.

Energy-efficiency measures: Buyers of new homes have come to expect high levels of insulation, efficient HVAC systems, high-performance windows, and energy-saving appliances and lighting.

Water conservation practices: Water-efficient fixtures and appliances, whole-house filtration systems, and low-maintenance landscaping are three ways to conserve this precious natural resource.

Material selections: Durable products that are as long-lasting as they are eco-friendly include high-performance engineered wood, wood alternatives, recycled building materials, and sustainably harvested lumber.

Air-quality considerations: The home’s indoor environment is enhanced by the choice of high-quality HVAC equipment, formaldehyde-free finishes and consumer products with low volatile organic compounds.

Site design measures: Incorporating green spaces and preserving healthy trees are positive ways to minimize disruption to the existing land.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!

What’s Trending Across The Country?

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Here are nine facts and figures about the national real estate market, recently compiled by RISMedia.com.

New construction: This year, the National Association of Home Builders predicts about a 2 percent increase in the number of single-family houses built over last year, which may not keep up with growing consumer demand.

High-tech spending: According to industry data, North American consumers are expected to spend $63 billion on smart home systems and services by 2022.

Jewel tones: Ruby red, emerald green, sapphire blue, and amethyst purple are gaining popularity among interior designers and decorators.

Foreign investors: For six straight years, Chinese buyers have been the top foreign investors in America, according to the National Association of Realtors®. Traditionally, these purchases are for high-end properties, but a growing number of the Chinese middle class is buying more moderately priced homes.

Smart lawn care: Technology meets Mother Nature with automated lawn mowers, smart sprinkler systems, and apps for gardening tips, watering needs and plant identification.

Moving statistics: United Van Lines reports that the most out-of-state moves in 2018 occurred among the residents of New Jersey, Illinois and Connecticut.

Inventory increase: This past December, the number of homes on the market increased by 5 percent, according to Realtor.com®, which is a good sign for the pent-up buyers market.

Business opportunity: Female entrepreneurs are more likely to start a business in Texas, Ohio or Minnesota, says FitSmallBusiness.com.

Home values: The difference between the appraised value and the home seller’s expected value was less than one-half of 1 percent at the end of last year, according to the Home Price Perception Index.

Five Star award Winner 2011- 2019 honoring the top 7% of real estate professionals in Oregon.

IT’S A GOOD LIFE!!

Rachel Sheller, Principal Broker, Realtor, CRS, ABR, GRI, SRES, Diversity Specialist-HOWNW, Earth Advantage Broker, MASTERS CIRCLE, CSA-Certified Staging Agent, Oregon First, Washington First 

Direct 503.380.9634, Email- rachel@rachelsheller.com

View ALL available Houses on the market on my website rachelsheller . com

Licensed in the State of Oregon and Washington

My business is referral based.
If you’ve enjoyed my service, please refer me!