Nelson Zide
ERA Key Realty Services | 508-277-7794 | nelson@nelsonzide.com


Posted by Nelson Zide on 1/15/2020

Buying your dream home may prove to be a long, arduous process. Thankfully, those who prepare for the homebuying journey can limit the risk of encountering hurdles along the way. And as a result, these homebuyers may be better equipped than others to enjoy a fast, seamless property buying experience.

Now, let's take a look at three things you need to know before you launch a home search.

1. The current housing market may favor buyers or sellers.

It generally is a good idea to evaluate the current housing market closely. That way, you can differentiate a buyer's market from a seller's market and map out your homebuying journey accordingly.

A buyer's market typically features a wide range of quality houses that may remain available for several weeks or months after they are listed. Comparatively, a seller's market usually is defined by a shortage of top-notch homes, and houses may be purchased just days after they become available.

Regardless of whether you are operating in a buyer's or seller's market, it helps to refine your home search. If you enter the housing market with homebuying criteria, you can narrow your search for your ideal residence. Then, once you find your dream house, you can act quickly to submit an offer to purchase it.

2. You may want to get pre-approved for a mortgage.

If you get pre-approved for a mortgage, you can begin your house search with a budget in hand. You next can hone your home search to residences that fall within your price range.

To get pre-approved for a mortgage, you should meet with a variety of banks and credit unions. These financial institutions can teach you everything you need to know about fixed- and adjustable-rate mortgages. They also can help you make an informed mortgage selection in no time at all.

3. Having a real estate agent at your side can make a world of difference.

Homebuyers who try to navigate the property buying journey alone may struggle to achieve their desired results. On the other hand, if you hire a real estate agent, you can receive expert assistance as you search for your dream house.

A real estate agent understands what it takes to streamline the homebuying cycle. Thus, if you want to acquire a first-rate house as quickly as possible, a real estate agent can help you do just that. Or, if you want to find a stellar residence that won't force you to break your budget, a real estate agent will make it simple to discover an affordable house that suits you perfectly.

Furthermore, a real estate agent can respond to your homebuying concerns and queries. And if you are ever uncertain about how to proceed along the homebuying journey, a real estate agent is ready to provide tips and recommendations.

Want to enjoy a successful homebuying experience? Start planning for the homebuying journey today, and you can boost the likelihood of achieving the best-possible results.




Categories: Uncategorized  


Posted by Nelson Zide on 12/11/2019

Buying a house should be a fast, simple process. However, problems sometimes can arise that prevent a homebuyer from discovering his or her dream residence.

Ultimately, there are many factors to consider before you purchase a house to ensure you can avoid myriad homebuying hurdles, and these factors include:

1. Your Home Needs

No two houses are identical, and much in the same vein, no two homebuyers have the same definition of the perfect residence. As such, a homebuyer should consider his or her dream home demands prior to kicking off a home search.

Making a checklist of home "must-haves" and "wants" is paramount. With this checklist in hand, a homebuyer will be able to refine his or her home search and map out the property buying journey accordingly.

It may be helpful to consider your day-to-day activities as you evaluate where you want to live too.

For example, if you work in the city, you may want to find a house that is located near public transportation. Comparatively, if you have kids, you may want to consider houses that are located close to top schools.

2. Your Budget

You know that you want to buy a house. On the other hand, you still have no idea how much money is available to ensure you can make your homeownership dreams come true.

When it comes to buying a house, it pays to meet with banks and credit unions. With pre-approval for a mortgage, you'll know precisely how much you can spend on a house.

To get pre-approved for a mortgage, set up consultations with several potential lenders. Then, you can learn about all of your mortgage options and select a mortgage lender that matches or surpasses your expectations.

3. Your Homebuying Timeline

Are you looking to buy a home as soon as possible? Or, can you afford to take a wait-and-see approach throughout the homebuying journey?

Examine your homebuying timeline and plan ahead as much as possible. By doing so, you can boost your chances of finding a terrific house and minimize stress as you browse the real estate market.

Regardless of your homebuying timeline, it always helps to work with a real estate agent. This housing market professional can take the guesswork out of searching for a residence and ensure you can discover a stellar house at a budget-friendly price.

Typically, a real estate agent will keep you up to date about new residences as they become available. He or she also will provide honest, unbiased homebuying recommendations and respond to any homebuying concerns and questions.

Let's not forget about the support that a real estate agent can provide during homebuying negotiations, either.

A real estate agent is happy to negotiate with a home seller on your behalf. That way, he or she can help you secure a great house without having to worry about paying too much.

Streamline the process of acquiring your ideal residence. Consider the aforementioned factors, and you can keep things simple as you proceed along the homebuying journey.




Categories: Uncategorized  


Posted by Nelson Zide on 12/4/2019

We all know that buying a home is a significant decision that comes with a great deal of financial planning and preparation. However, few of us are taught the ins and outs of actually obtaining a mortgage to make your dream of homeownership come true.

Mortgages are a complicated business that is always changing, both with fluctuations in market rates and with policy decisions.

But, if you’re hoping to buy a home in the near future, it’s important to understand all of your options when it comes to mortgages.

In today’s post, we’re going to address the 20% down payment myth, where that number comes from, and what your options are when it comes to applying for a mortgage.

Where does the 20% down payment number come from?

For most people, 20% of a house is a serious amount of money that would take years to save up. If you’re a first-time homebuyer and don’t have any equity to use from selling another house, 20% may seem like an impossible amount to save within the time you want to buy a home. Fortunately, there are several ways to buy a home without having 20% in cash saved up.

But first, let’s understand where that number comes from.

Most mortgage lenders will want to ensure that lending to you is a safe investment of their money. They want to know that they’ll earn back what they’re spending. To do this, they use several methods.

First, they’ll check your credit history to see how often you pay your bills in time. Then, they’ll want proof if your income and financial stability. Finally, they’ll ask for either a down payment or a guarantee that you will pay them back. Here’s where that 20% comes in.

If you don’t have 20% of the mortgage amount saved for a down payment, you will typically have to pay something called private mortgage insurance. This is an extra monthly fee, on top of your mortgage payments with interest, that you pay to ensure the lender that they’re seeing a return on their investment.

Most homeowners put much less than 20% down

If you’re feeling bad about the amount of money you have saved for a down payment, don’t be! In fact, most first-time homebuyers put, on average, just 6% down on their first home.

Since first-time homeowners don’t have the benefit of equity they’ve accumulated by making payments on their previous mortgage, they often have to come up with down payments out of pocket.

Other options besides a 20% down payment

There are several ways to secure a mortgage without putting 20% down on the home. First, check to see if you are eligible for any loans that are guaranteed by the government. These can come from the Department of Veterans Affairs (VA), or the USDA single-family home program.

The third option is to take on private mortgage insurance until you’ve paid 20% of your mortgage payment.

Private mortgage insurance can be paid to an insurance company or to the federal government in the case of FHA loans, you can put down as low as 3.5%.


Between these three options, you should be able to find a mortgage that you can afford and one that will give you the best possible financial stability in the long-term.





Posted by Nelson Zide on 11/27/2019

Want to buy a house for the first time? Create a budget, and you can move one step closer to transforming your homebuying dream into a reality.

Now, let's take a look at three budgeting tips that every first-time homebuyer needs to know.

1. Don't Wait to Start Saving for a Down Payment

In most instances, a down payment on a home ranges from 5 percent to 20 percent. With a large down payment, you may be able to reduce your monthly mortgage expenses.

A lender may be more willing to provide you with a favorable mortgage if you can afford an above-average down payment. This means if you have plenty of money for a down payment, you could save money over the life of your mortgage.

2. Take a Look at Your Outstanding Debt

Student loan charges, credit card bills and other outstanding debt may make it tough for you to get the financing that you need to buy a house. Fortunately, if you pay down your outstanding debt as much as possible, you can boost your chances of buying your dream house.

Evaluate your current spending and make cuts if possible. For example, if you dine out several times a week, it may be more cost-effective to buy groceries and cook your own meals. Then, you'll have extra money that you can use to pay off outstanding debt and save for a house.

3. Understand Your Credit Score

Do you know your credit score? If not, you may be missing out on opportunities to eliminate outstanding debt and increase your home savings.

You are eligible for a free annual copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Take advantage of this perk, and you can receive insights into your credit score.

If you obtain your free credit reports and find outstanding debt, you should try to pay off this debt sooner rather than later. Because the longer that you wait to pay off outstanding debt, the longer it may take you to acquire your ideal residence.

Furthermore, if you discover errors on a credit report, contact the reporting bureau immediately. This will enable you to fix any report errors before you get a mortgage.

If you need additional assistance as you map out a homebuying budget, it often pays to collaborate with a bank or credit union. In addition to providing you with multiple mortgage options, a lender will offer expert recommendations to help you budget for your first home purchase.

Lastly, don't hesitate to reach out to a real estate agent as well. This housing market professional is happy to help you get in touch with the best lenders in your area. And when you're ready to kick off your inaugural homebuying journey, a real estate agent can provide you with the support you need, precisely when you need it.

Use the aforementioned tips, and you can establish an effective homebuying budget.




Tags: Buying a home   budgeting  
Categories: Uncategorized  


Posted by Nelson Zide on 10/2/2019

Generally, the length of the homebuying journey depends on the individual. In some instances, a buyer will purchase the first house that he or she views in-person. Or, in other cases, it may take a buyer several weeks or months to find a house that matches his or her expectations.

There is no need to rush the homebuying journey. But if you know what to expect when you pursue your dream house, you may be able to seamlessly navigate the property buying cycle.

Now, let's take a look at three tips to help you streamline the homebuying journey.

1. Establish Homebuying Criteria

If you know where you want to live and what you want to find in your ideal residence, you can tailor your house search accordingly. And as a result, you may be better equipped than other property buyers to discover a great house at an affordable price.

As you put together homebuying criteria, it is important to consider your long-term plans as well. For instance, if you enjoy city life and want to spend as much time as possible in the city, a house in the city may be the right choice for you. On the other hand, if you want to raise your family in a small town, you may want to hone your search to houses in small towns.

2. Get Pre-Approved for a Mortgage

A home purchase likely will require you to obtain a mortgage. Fortunately, banks and credit unions are available nationwide, and these financial institutions can help you get pre-approved for a mortgage.

Meet with several banks and credit unions so you can learn about all of the mortgage options at your disposal. Then, you can select a mortgage and enter the real estate market with a budget in hand.

3. Hire a Real Estate Agent

If you're on the lookout for your dream home, you may want to hire a real estate agent. This housing market professional can keep you up to date about new residences that become available in your preferred cities and towns – and much more.

Typically, a real estate agent will do whatever it takes to help you find and buy your dream home. He or she initially will learn about your homebuying goals and develop a custom homebuying strategy for you. Next, a real estate agent will set up home showings and keep you informed about open house events. And if you discover your ideal residence, a real estate agent will help you craft an aggressive offer to purchase this house.

Let's not forget about a real estate agent's homebuying expertise, either. If you ever have concerns or questions during the homebuying journey, a real estate agent can respond to them. That way, you can gain the insights you need to make an informed home purchase.

Simplify the homebuying journey – use the aforementioned tips, and you should have no trouble finding and acquiring your dream house.




Categories: Uncategorized  




Tags