Real Estate Tips

Quick tidbits of advice and ideas about real estate.

Found 122 blog entries about Real Estate Tips.

One of the greatest aspects of being a homeowner is the freedom to upgrade and remodel your home as you please. While renters are usually limited to personalizing their homes with potted plants and artwork, homeowners can rearrange the very walls of their properties.

Still, as you begin your search for a home to purchase, keep in mind that not all remodeling undertakings will repay your investments equally. The worst time to discover that you’ve chosen the wrong projects is when you’re ready to put your home up for sale. To help you avoid common cash-consuming mistakes, our team did the math, read the statistics, and we’re ready to share our top ten projects that could lower your home value.

1.) DIY Projects (Above Your Ability)

DIY

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The mortgage underwriting process is essential to verify income and ultimately determine whether the loan is approved or not. In addition to examining your income, the underwriter will also dive into significant events such as recently graduating from school, switching careers, or starting a new business.  

Because the amount of money being loaned is substantial, the verification process can be tedious and requires plenty of documentation to get it done.

This overview will give you an idea of what to expect during the underwriting process to better prepare for it. Have specific questions about underwriting? Contact Steadfast Mortgage!  

What are the income requirements when applying for a loan?

When applying for a loan, the question is

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Purchasing your first rental property is a big step in your real estate investor journey. Aside from choosing a potentially profitable property, you need to figure out how to finance your rental.

Before sharing how to apply for an investment loan, let’s look at how a primary home mortgage differs from a rental property mortgage.

The Difference Between a Mortgage for a Primary Home and a Rental

On the surface, a mortgage for a rental may look similar to a mortgage for a primary home since the application process is the same. However, there are different rules and guidelines lenders follow when you apply for a mortgage on a rental property.

Larger Down Payments

For a primary home, you can make as little as a 3% down payment in some

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If you are looking to buy a home but are worried that you can't afford monthly payments, why not consider a foreclosure as your first home?

A foreclosed home is usually owned by a bank or lender and sold at prices way below its market value. Who knows, you may just hit the jackpot by purchasing a residence that would have been out of your price range. 

Here are the top reasons you should consider foreclosed properties as a first-time buyer.

How Buying a Foreclosure Works

A foreclosure happens when a borrower fails to pay their monthly payments. The lender then exercises his right to seize the property and resell it to recover or reduce its financial losses.

Foreclosed properties are usually put up for auction, which means that lenders

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Congratulations on the purchase of your home here in beautiful Middle Tennessee! You’re undoubtedly excited about all of the fun parts of moving to a new house. Decorating a new home and clearing out items that were contributing to clutter can be so refreshing. Moving to a new neighborhood can also open opportunities to meet new friends and explore a different area of our incredible state.

Despite the excitement of securing your new home and all of the positives that come with it, you most likely aren’t looking forward to the move itself. In fact, according to recent research, Americans say that moving is the single most stressful life event they’ve ever experienced. Moving outranked divorce, breakups, getting married, having a child, changing

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In years past, heated flooring was a truly luxurious home feature, available in only high-end properties. In this century, though, heated floors are more affordable and reliable, and have gained popularity in every type of home. Tiny houses, apartments, single-family homes—even vans and buses—have either been designed with heated flooring or have been converted in recent years. Still, it’s not all good news when it comes to these comfort-boosting systems. Read on to learn more about some pros and cons of heated flooring.

Pros

1.) Compatible With Many Types of Flooring

Let’s first debunk the notion that heated floors can only be installed under tile or stone flooring. While these materials are excellent at conducting radiant heat, a skilled

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Buying a second home is a dream come true for many. Whether it’s a retirement home, a vacation home, or your first step toward real estate, investing in a second property is a notable achievement in your portfolio. Like a first-time home purchase, a second property requires a down payment, and many consider using their home equity as seed money for funding the investment.  

The short answer to whether you can use your home equity to buy another home is yes, you can. Let’s look at the whole process to see how this works.

Steps For Getting a Home Equity Loan To Buy Your Second Home

1.) Determine How Much You Need

Before using your equity to buy your second home, determine how much you need for the down payment and closing costs. Next,

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Owning a home is still very much a part of the American dream. However, did you know that non-U.S. citizens can also enjoy this? While there are challenges to homeownership if you are not a citizen, know that lenders are open to extending credit to non-citizen homebuyers.

Let's look at how you can qualify for a home loan even when you are a foreigner residing in the U.S.

Residency Status

Permanent residents with green cards have a better chance of getting a loan since they represent less risk for lenders due to their immigration status, which indicates they are in the country for the long haul.

Nonpermanent residents may encounter more challenges getting approved since their ability to work in the U.S. is tied to their visa. However,

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Given the option, you would most likely choose not to stage your home while you’re still living in it. However, it’s not uncommon to have to prepare to show your home before you’ve closed on your new home. Don’t despair; while it is definitely more challenging to keep a home show-ready while it’s occupied, it’s certainly doable. 

First, let’s look at why staging a home is so important. According to recent research conducted by the National Association of Realtors (NAR),  31% of realtors reported that home staging greatly reduced the amount of time a home remained on the market. 23% of both sellers and agents reported netting up to 5% more than the asking price, while 18% of sellers’ agents said they closed for up to 10% over asking. 

None of the

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Buying a home is an exciting, yet complicated process. You will have many decisions to make along the way, including your ideal neighborhoods, budget, and timing for your move. Whether you are buying your first home or purchasing a home in a new location, you should know: one of the most important decisions you’ll make is choosing your real estate agent.

In today’s article, we’re sharing our tips for selecting the right agent for you. While there are hundreds of qualified, personable, hard-working agents in Middle Tennessee, the following tips will help you narrow the field.

1.) Invest Your Time

Some buyers spend more time choosing a hotel for their vacation than they do researching their real estate agent. Yet for most homeowners, their

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