Emerson Realtors



Posted by Emerson Realtors on 2/14/2019

When buying a new house, you’re not just buying a roof to keep over your head. You’re buying a home to build your life in. To create a refuge from the outside world, to create memories within, and to grow your family in.

A home is a reflection of who you are, the things you fill your life with and your values. And this is true for the neighborhood your home resides in as well. Whether you are a young family or planning to start one in the near future choosing the perfect neighborhood for your lifestyle will bring you years of good memories to come.

The perfect place to start when choosing a neighborhood is by asking your agent! So many factors go into selecting a home and we know the importance of the various factors you need to consider for settling a young family. We can choose houses for showing that fit your unique family needs as it grows.

When scouting out local neighborhoods visit their community center and library. Both will be able to provide you with a list of local groups and activities that are available. You’ll most likely be able to find a local paper or newsletter here as well to get a feel the neighborhood’s culture and community involvement.

Most couples start by researching the schools in the neighborhoods on their list. Things to consider are budget and the available extracurricular activities that are available. It’s easy to focus on preschools and kindergartens when searching but remember to look at the middle and high schools as well.

Search for meetups for parent groups that meet regularly to have play dates. This is also a great way to find and meet locals to ask them questions about their experiences with the community. Reach out to the group organizer with a friendly message and they will be more than likely happy to answer and all of your questions.

Take a drive around the area to get a lay of the land. Are there nearby playgrounds and parks you could walk or take a short drive to? Visiting at different times of the day can give you an idea of the neighborhoods general routine. Are there lots of young children getting on the bus in the morning or teenagers riding their bikes around in the afternoons?

You’ll also want to carefully consider costs of homes in that neighborhood and if they fit your budget. If you’re planning a family you’ll want to have an idea of future costs while creating this budget so you don’t find yourself strapped between your mortgage and childcare.

Planning your family’s future is an exciting time and choosing the neighborhood you’ll raise your children in is pivotal. As your family grows over the years their needs will change too. The perfect neighborhood is the one that will have a positive environment for your child whether they’re 18 months or 17 years old.




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Posted by Emerson Realtors on 2/7/2019

Buying a home tops your long-range goals list, but are you ready? As a first-time buyer, you have loads of questions and concerns. After all, a home loan is an obligation for years into the future. You want to make savvy decisions and be comfortable that you’ve negotiated the best deal. On top of that, learning all about credit scores, how to pre-qualify and the difference between pre-qualification and pre-approval. And what are options and closing costs?

Fannie Mae, the Federal National Mortgage Association (FNMA) government-sponsored enterprise (GSE) that serves the mortgage industry, knows what you need to know about buying a house. They’ve put together a course for new homebuyers called HomePath Ready Buyer Education Program.

Enroll now

The online course lets you attend from the comfort of your sofa. After completion, a “graduate” may qualify for assistance up to three percent of the closing cost of purchasing a qualified HomePath property. You won’t end up with an education loan either. Tuition is just $75, and Fannie Mae says it could even reimburse your tuition during closing on your new home. Now that’s a deal!

What you learn

Because the course design has new buyers in mind, you’ll learn to determine how much you can afford to buy and ways to figure out what home is best for you. Making the deal and learning about down-payment options will get you on your way. Finally, you’ll learn to avoid the pitfalls, and all the navigate the paperwork required to close the deal.

How long does it take?

The entire course is nine 30-minute sessions, so along with the quiz at the end (no final exam though), the total class takes about four to five hours. Designed to be intuitive and self-directed, you can work your way through the course over a few evenings, on your lunch hour, or even during your morning commute (provided you’re not the driver, of course!).

How you benefit

In addition to the three percent closing cost assistance and tuition reimbursement, your Certificate of Completion may qualify you up to take advantage of the First Look program. By giving first-time homeowners an exclusive "first look" at newly-listed foreclosed properties, this innovative program serves new home seekers and promotes neighborhood stabilization.

Fannie Mae relies on real estate professionals to follow through on the home-buying process. For more information, express your interest in the HomePath program to your real estate professional.





Posted by Emerson Realtors on 1/31/2019

Real estate terminology can be confusing for both new and experienced homeowners alike. Especially when it comes to the various types of loans. If the different types of loans have your head spinning, don’t worry. I hear you!

Here’s what you need to know:

Mortgage prequalification is an estimate a lender will give as to what you will qualify for when a more in-depth analysis is made. It doesn't guarantee anything and is to be thought of as a rough ballpark estimate.

Mortgage pre-approval is when a more in-depth review is made. The lender will take your income, debt and other factors into consideration to give you a more conclusive number. This number is the max they will lend out to you. It does not mean you have to take out the full amount.

Adjustable rate mortgage or ARM is a mortgage in which the interest rate changes over time. These changes are dependent on an index based on the credit markets. The change in interest rate should reflect a fairness of risk to both the lender and borrower. These changes are regulated by the government and there is a limit to the charges. The initial lower rate the first few years is a draw for many borrowers.

A fixed-rate mortgage or FRM is, as you might have guessed, one where the interest rate does not change throughout the lifespan of the loan. These loans are seen as risky in that the interest rate doesn’t reflect the flux of credit market values. What this means is that sometimes the risk for the lender increases if the market value of the home increases. And the risk increases for the buyer when the market value of the home decreases.

Conventional loans have fixed terms and rates and are not “government-backed”. This simply means they are not guaranteed by the government or insured by a government agency. Examples of these agencies are the Federal Housing Administration (FHA), the Farmers Home Administration(FmHA), and the U.S. Department of Veteran Affairs (VA).

Private mortgage insurance or PMI is a type of insurance for a conventional loan. This loan protects the lender if, for whatever reason, you were to stop making payments. It’s usually a monthly premium tacked onto your mortgage payment. It can also be an upfront cost you only need to pay once. This is a decision that is up to and may be mandatory, by your lender.

Federal housing administration loan or FHA loan can only be obtained from qualifying lenders. These loans are insured by the FHA. This mortgage is designed to assist home buyers who have a low to moderate income and can’t afford to put down a large down payment. The down payment can be as low as 3.5% of the home's value for borrowers who qualify.  





Posted by Emerson Realtors on 1/24/2019

If you've always dreamed of owning a house, there is no need to wait to enter the real estate market. In fact, there are many reasons to kick off a house search today, and these include:

1. You can upgrade from your current residence.

If you live with family members or friends or rent an apartment, buying a home may represent an upgrade. Because when you purchase a residence, you can reap the benefits of having your very own living space.

There is no shortage of high-quality houses available in cities and towns nationwide. Regardless of whether you prefer the comfort of small town living or the hustle and bustle of city life, you can check out a broad range of houses at your convenience. Then, you can discover your dream residence, submit an offer to purchase it and move one step closer to making your homeownership dream come true.

2. Many home financing options are available.

One of the biggest issues that often prevents people from pursuing homes is a lack of financing. Fortunately, banks and credit unions offer a variety of mortgage options designed for individuals of all incomes.

Whether it's a fixed- or adjustable-rate mortgage, you're sure to find a mortgage option that complements your finances perfectly. Plus, banks and credit unions are ready to teach you everything you need to know about different types of mortgages. And if you are unsure about how a mortgage works or which mortgage option to choose, friendly, knowledgeable mortgage specialists are available to assist you.

3. You can receive plenty of support throughout the homebuying journey.

Let's face it – buying a home can be a daunting task, particularly for an individual who is entering the real estate market for the first time. The sheer volume of top-notch houses sometimes makes it tough to differentiate a good home from a great one. Meanwhile, navigating the homebuying process can be stressful, and challenges may arise that make it difficult for a homebuyer to achieve his or her desired results.

If you enter the housing market today, you can hire a real estate agent who can help you streamline the process of going from homebuyer to homeowner. This housing market professional will offer expert insights into all aspects of the homebuying journey. In addition, he or she will go the extra mile to ensure that you can quickly and effortlessly acquire your dream home at a price that matches your budget.

Of course, a real estate agent will help you map out a successful homebuying strategy too. He or she will meet with you, learn about your homebuying goals and help you plan accordingly. And if you have concerns or questions at any point during the property buying journey, a real estate agent can respond to them.

Launch a home search today – you'll be glad you did. If you pursue your dream home with help from a real estate agent, you can seamlessly navigate the property buying journey.




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Posted by Emerson Realtors on 1/17/2019

Conducting an in-depth home search may prove to be difficult, particularly for individuals with limited time and resources at their disposal. Fortunately, there are lots of things that you can do to streamline your home search and discover your ideal residence without delay.

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

1. Create Homebuying Criteria

Not all homes are created equal, and the dream house for one buyer may differ from the dream house for another. However, if you craft homebuying criteria, you can define your dream house and map out your property search accordingly.

Think about the features you want to find in your dream residence. For instance, if you want to own a house that features a dazzling backyard, you can explore residences that offer this feature. On the other hand, if you want to purchase a home that boasts multiple bedrooms, you can search for residences that provide plenty of space.

Consider where you want to reside, too. By doing so, you can narrow your home search to residences in a select group of cities and towns.

2. Know Your Homebuying Budget

Get pre-approved for a mortgage – you'll be happy you did. If you enter the real estate market with a mortgage in hand, you'll know exactly how much you can spend to acquire your dream residence. Then, you can search for houses that fall within your price range.

Obtaining a mortgage will require you to meet with banks and credit unions. You should review mortgage options from a variety of banks and credit unions, as this will allow you to select a mortgage that complements your finances.

Don't hesitate to ask mortgage questions, either. Banks and credit unions employ home financing specialists who are ready to respond to your mortgage queries. Plus, these specialists can offer home financing insights to help you make an informed mortgage selection.

3. Hire a Real Estate Agent

A real estate agent understands the challenges associated with finding a great house at an affordable price. Thankfully, he or she can make it easy for you to conduct an in-depth home search in no time at all.

Typically, a real estate agent will keep you up to date about new houses that become available in your preferred cities or town. If you want to view any of these homes, a real estate agent will set up a house showing. And if you find a home you want to buy, a real estate agent will help you craft a competitive offer to purchase this residence.

As you get set to search for your dream home, you should try to prepare as much as you can. By using the aforementioned tips, you can simplify the process of conducting a comprehensive home search. Best of all, you can use these tips to discover a wonderful home that is sure to serve you well both now and in the future.







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