We’re still technically in a seller’s market, but that doesn’t mean your home is guaranteed to easily sell.1 No matter what kind of market we're in, if you want to maximize your sale price, it’s still important to prepare your home before putting it on the market. Step one is to start by connecting with a real estate agent as soon as possible. Any one of our Home Team Agents of lpt Realty can be the insightful guide you need, an extra pair of eyes and ears that can help highlight the perks of your home’s appeal to buyers. What’s more, because at the Home Team Group, we're YOUR Home Team who does it all-Real Estate Sales, Title, & Lending, having us as your partners early in the preparation process allows you to tackle repairs and upgrades that can increase your property’s value while also saving you time and money by addressing your personal, financial, and property goals.  That solid game plan makes a huge difference in any market, but especially in a shifting market.  Even if you’re not ready to connect with my team aka YOUR Home Team just yet, here’s a little checklist that will help you figure out what tasks to prioritize.  While everyone’s situation is unique, these guidelines will help you make sure you’re ready to sell when the time is right. Of course, you can always text or #CallYourMama 855.4YO.MAMA if you’re not sure where to start or what to tackle first. Together, we can customize a plan that works for you.   AS SOON AS YOU THINK OF SELLING Contact Your Real Estate Agent We go the extra mile as when it comes to servicing our clients, and that includes a series of complimentary, pre-listing consultations to help you prepare your home for the market. Some sellers make the mistake of waiting until they are ready to list their home to contact a real estate agent. But we’ve found that the earlier we’re brought into the process, the better the result. That often means a faster sale—and more money in your pocket after closing. We know what buyers want in today’s market, and we can help devise a plan to maximize your property’s appeal. We can also connect you with our trusted network of contractors, vendors, and service professionals, so you’ll be sure to get the VIP treatment. This network of support can alleviate stress and help ensure you get everything done in the weeks or months leading up to listing. Address Major Issues and Upgrades In most cases, you won’t need to make any major renovations before you list. But if you’re selling an older home, or if you have any doubt about its condition, it’s best to get us involved as soon as possible so we can help you assess any necessary repairs. In some instances, we may recommend a pre-listing inspection. A pre-listing inspection can help you avoid potential surprises down the road. We can discuss the pros and cons during our initial meeting. This is the time to address major structural, systems, or cosmetic issues that could hurt the sale of your home down the line. For example, problems with the frame, foundation, or roof are likely to be flagged on an inspection report. Issues with the HVAC system, electrical wiring, or plumbing may cause the home to be unsafe. And sometimes outdated or unpopular design features can limit a home’s sales potential. Remember, when you’re dealing with major repairs or renovations, it’s best to give yourself as much time as possible. Given rampant labor and material shortages, starting right away can help you avoid costly delays.2 Contact us so we can guide you on the updates that are worth your time and investment.   1 MONTH (OR MORE) BEFORE YOU LIST Once any large-scale renovations have been addressed, you can turn your attention to the more minor updates that still play a major role in how buyers perceive your home. Make Minor Repairs Look for any unaddressed maintenance or repair issues, such as water spots, pest activity, and rotten siding. This is the time to take care of those small annoyances like squeaky hinges, sticking doors, and leaky faucets, too. Many of these issues can be handled by going the DIY route and using a few simple tools. Tackle the ones you can and be sure to call a professional for the ones you’re not comfortable doing yourself. We can refer you to local service providers who can help. Remember that it’s easy to overlook these small issues because you live with them. When you work with us as YOUR Home Team, you get a fresh set of eyes on your home—so you don’t miss any important repairs that could make a big difference to buyers.   Refresh Your Design This is a great time to think about some simple design updates that can make a significant impression on buyers. For example, a fresh coat of paint is an easy and affordable way to spruce up your home. One survey found that interior paint offered a 107% return on investment.3 For broad appeal, opt for warm, neutral colors. And never underestimate the importance of good curb appeal. Homes with good curb appeal sell for 7% more, on average, than similar homes with an “uninviting exterior.”4 If weather permits, lay fresh sod where needed, plant colorful flowers, and add some new mulch to your beds. Even just repositioning your furniture can make a huge difference to buyers. A survey by the Real Estate Staging Association found that staged homes sold faster, and 73% sold over list price.5 We love staging and are happy to offer our insights and suggestions when you list with the Home Team Agents of lpt Realty, the sales division of YOUR Home Team. Declutter and Depersonalize Doing a little bit of decluttering every day is a lot easier than trying to take care of it all at once right before your home hits the market. A simple strategy is to do this one room at a time, working your way through each space whenever you have a bit of free time. Start by donating or discarding items that you no longer want or need. Then pack up any seasonal items, family photos, and personal collections you can live without for the next few weeks. Bonus: This will give you a head start on packing for your move! 1 WEEK BEFORE YOU GO TO MARKET With just one week before your home is available for sale, all major items should be crossed off your to-do list. Now it’s time to focus on the small details that will really make your home shine. Here are a few key areas to focus on during this last week. Check-In With Your Agent We’ll connect again to make sure we’re aligned on the listing price, marketing plan, and any remaining prep. We will be there every step of the way, ensuring you’re fully prepared to maximize the sale of your home. Tidy Your Exterior You’ve already done the major landscaping—now it’s time to tackle the last few details. Make sure your lawn is freshly mowed, hedges are trimmed, and flower beds are weeded. In addition, now is the time to clean your home’s exterior if you haven’t already. Pressure washing sidewalks, screens, siding, etc is a game changer and we’ll want all those listing photos to truly showcase your home, so be sure this step isn’t skipped.  Same goes for those windows and screens! Deep Clean Your Interior Your house should be deep cleaned before listing, including a thorough deodorizing of the home’s interior and steam cleaning for all carpets. Consider hiring a professional cleaning company to ensure the space smells and looks as fresh as possible. In addition to cleaning, take some time to tidy up. Buyers will look inside your closets, pantries, and cabinets, so make sure they are neat and organized. Small appliances and toiletries should be cleared off the countertops.  And be sure all your light bulbs are in working order.  A well-lit home sells! DAY OF MARKETING/SHOWINGS/OPENS Now you’re all set to go and there are just a few small things you need to handle on the day of marketing, showings, or open houses. Do a final walk-through and take care of these finishing touches to give potential buyers the best possible impression.  With YOUR Home Team, we offer a professional video & photography marketing package, like a “glamour shots” session, but for your house.       Pre-Showing Prep (done for Marketing day & Open Houses as well) Happy and comfortable buyers are more likely to submit offers! Make them feel at home by adjusting the thermostat to a comfortable temperature. Open any blinds and curtains throughout the house, and turn on all lights so buyers can see all the potential in your home. Then tidy up by vacuuming and sweeping floors, emptying (or hiding) trash cans, and wiping down countertops. In the bathrooms, close toilet lids and hang clean hand towels. Don’t forget to secure firearms, jewelry, sensitive documents, prescription medications, and any other items of value in a safe or store them off-site. Finally, it’s best to have pets out of the house during showings. If possible, you should also remove evidence of pets (litter box, dog beds, etc.), which can be a turn-off for some buyers. DON’T WAIT TO PREP YOUR HOME FOR SELLING If you want to get top dollar for your home, don’t put it on the market before it’s ready. The right preparation can make all the difference when it comes to maximizing the offers you get. The upgrades and changes you need to make will depend upon your home’s condition, so don’t wait to speak with an agent. Contact us, YOUR Home Team if you’re thinking about selling your home, even if you’re not sure when. It’s never too early to seek the guidance of Your Favorite Realtor® and start preparing your home to sell!  Much love,  The Marketing Mama (aka Amanda )     Sources: Fortune -https://fortune.com/2022/02/08/should-i-buy-house-sellers-market-housing-real-estate-fannie-mae/ Forbes -https://www.forbes.com/advisor/home-improvement/labor-materials-shortage-impacts-renovations/ PR Web -https://www.prweb.com/releases/2012-homegain/home-improvement-survey/prweb9433460.htm Realtor Magazine -https://magazine.realtor/daily-news/2020/01/27/how-much-does-curb-appeal-affect-home-value Real Estate Staging Association -https://www.realestatestagingassociation.com/content.aspx?page_id=22&club_id=304550&module_id=164548

Moving can be stressful, but it doesn’t have to be!  If you’re a first-time buyer facing rising rents, a solid fixed rate mortgage is a great incentive to prepare yourself for homeownership.  And, if you’re a current homeowner but want to downsize, move up, or invest in another property…it’s still vitally important to prepare for your purchase.  No matter if it’s your 1st or your 5th home, don’t wait until you’re ready to move to start preparing financially to buy a home. The vast majority of home buyers finance their purchases with a mortgage loan. Knowing what to expect and taking the necessary steps to prepare will help you avoid any hiccups or delays to your new house.  The requirements to secure a home loan can seem overwhelming, especially if you’re a first-time buyer, but at The Home Team Group, we like to educate our buyers to make the process smooth and pleasant.  Purchasing a home is a big deal, and you worked hard to get here, so with open lines of communication and setting the expectation upfront, the financing part of buying a house can be ALMOST as fun as looking at the pretty houses (almost). You may have seen Manny and I compare the current 2022 Housing Market to the 2008 Market in our recent episode of Married To The Market; but if you have had the opportunity to watch, one of the biggest items to note, especially if you’re a current homeowner who hasn’t purchased in a long time, is that lending requirements have become more rigorous in recent years, and changes to your credit history, debt levels, job type and other factors could impact your chances of approval.  That’s why preparation is KEY. It’s never too early to start preparing to buy a home. Follow these three steps to begin laying the foundation for your future home purchase today!    STEP 1 IN PREPARING FOR PURCHASE: CHECK YOUR CREDIT SCORE Your credit score is one of the first things a lender will check to see if you qualify for a loan. It’s a good idea to review your credit report and score yourself before you’re ready to apply for a mortgage. Credit Karma is not a qualifying score for a mortgage approval, as it uses a Vantage Scoring method.  So, while it is a great way to monitor your credit, to see what your true FICO score is, you can either CONTACT YOUR FAVORITE LENDER BY CLICKING HERE or call 833.WE.LOAN.1 and speak with one of our knowledgeable mortgage experts within our lending division of YOUR Home Team Group…Home Team Lending.  Even the savviest of buyers cringe at the thought of a credit pull, but honestly, it’s such a small “hit” to your score (typically 2-5 points) and you really do need to know if you have a low score, because you will need time to raise it. And sometimes fraudulent activity or erroneous information will appear on your report, which can take months to correct. If you are considering a purchase within the next 12 months, you should definitely give our team a call/text/email/pop by in person…because knowledge is really powerful in your pathway to purchase, so step one-knowing your credit-is something we can assist you with.  It’s fast, FREE, and most of all, friendly.  Believe me, after 20 years, there’s not a scenario that we haven’t seen.  You’re in good hands with YOUR Home Team.  If you think you’re more than 12 months away, check out the free credit report that you are entitled to by federal law every 12 months from each of the three major credit bureaus (Equifax, Experian and Transunion) by requesting your free credit report at https://www.annualcreditreport.com. WHAT’S A GOOD CREDIT SCORE, WHAT’S A BAD CREDIT SCORE, AND HOW DOES IT IMPACT YOUR MORTGAGE APPROVAL?  Click here to watch our short 2 minute video giving you those answers from our lips to your ears!   5 Quick Tips to Increase Your Credit Score While I’m not a credit expert, having helped grow our lending division as The Mortgage Mama™ the past decade, I have worked with hundreds of borrowers who have had credit challenges.  And, y’all, there’s no quick fix for a low credit score, but the following 5 steps will help you increase it over time.5 1. Make Payments on Time At 35 percent, your payment history accounts for the largest portion of your credit score. Therefore, it’s crucial to get caught up on any late payments and make all of your future payments on time.  2. Avoid Applying for New Credit You Don’t Need New accounts will lower your average account age, which could negatively impact your length of credit history. Also, each time you apply for credit, it can result in a small decrease in your credit score. The exception to this rule? If you don’t have any credit cards—or any credit accounts at all—you should open an account to establish a credit history. Just be sure to use it responsibly and pay it off in full each month. 3. Pay Down Credit Cards, Not Pay OFF When you pay off your credit cards and other revolving credit, you lower your amounts owed, or credit utilization ratio (ratio of account balances to credit limits). Some experts recommend starting with your highest-interest debt and paying it off first. Others suggest paying off your lowest balance first and then rolling that payment into your next-lowest balance to create momentum. Whichever method you choose, the first step is to make a list of all of your credit card balances and then start tackling them one by one; ideally at a $0 balance, but certainly if you do keep a balance, be sure to keep it under 30% of the available limit. Make the minimum payments on all of your cards except one. Pay as much as possible on that card until it’s paid in full, then cross it off your list and move on to the next card.   Debt Interest Rate Total Payoff Minimum Payment Credit Card 1 12.5% $460 $18.40 Credit Card 2 18.9% $1,012 $40.48 Credit Card 3 3.11% $6,300 $252 Keep the account open, but at a $0 balance, though. Here’s why: 4. Avoid Closing Old Accounts Closing an account with a $0 balance eliminates that amount of available credit in your credit utilization ratio and the credit algorithm reads that as a bad thing, even though you got rid of debt.  Since credit scores are measured by an algorithm and not a human, closing accounts raise your credit utilization ratio, since you’ll have less available credit.  The credit algorithm also LOVES length of credit worthiness, so closing an old account will not remove it from your credit report and it can hurt your score as well because it decreases your average length of credit history. Ooh, while I’m thinking about paying off things…in terms of collections, paying off a collection account will not remove it from your report. It remains on your credit report for seven years, however, the negative impact on your score will decrease over time. 5. Correct Errors on Your Report Mistakes or fraudulent activity can negatively impact your credit score. That’s why it’s a good idea to check your credit report at least once per year. The Federal Trade Commission has instructions on their website for disputing errors on your report. While it may seem like a lot of effort to raise your credit score, your hard work will pay off in the long run. Not only will it help you qualify for a mortgage, a high credit score can help you secure a lower interest rate on car loans and credit cards, as well. You may even qualify for lower rates on insurance premiums.6  STEP 2 IN PREPARING FOR PURCHASE: SAVE UP FOR A DOWN PAYMENT & CLOSING COSTS The next step in preparing for your home purchase is to save up for a down payment and closing costs. Down Payment When you purchase a home, you typically pay for a portion of it in cash (down payment) and take out a loan to cover the remaining balance (mortgage).  Many first-time buyers wonder: How much do I need to save for a down payment? The answer is … it depends. Generally speaking, the higher your down payment, the more money you will save on interest and fees. For example, you will qualify for a lower interest rate and avoid paying for mortgage insurance if your down payment is at least 20 percent of the property’s purchase price. But what if you can’t afford to put down 20 percent? On a conventional loan, you will be required to purchase private mortgage insurance (PMI) if your down payment is less than 20 percent. PMI is insurance that compensates your lender if you default on your loan.7 Conventional loans can have a 3% down payment, but typically for better terms, a minimum of 5% is a good down payment.  If a 5% down payment is still too high, an FHA-insured loan may be an option for you. Because FHA loans are guaranteed by the Federal Housing Administration, they only require a 3.5% down payment if your credit score is 580 or higher.7 The downside of getting an FHA loan? You’ll be required to pay an upfront mortgage insurance premium (MIP) of 1.75% of the total loan amount, as well as an annual MIP of between 0.80 and 1.05 percent of your loan balance on a 30-year note. There are also certain limitations on the types of loans and properties that qualify.10 There are a variety of other government-sponsored programs created to assist home buyers, as well. For example, veterans and current members of the Armed Forces may qualify for a VA-backed loan requiring a $0 down payment.7 I recommend you CONTACT YOUR FAVORITE LENDER BY CLICKING HERE or call 833.WE.LOAN.1 and speak with one of our knowledgeable mortgage experts if you have further questions.  Current Homeowners If you’re a current homeowner, you may have equity in your home that you can use toward your down payment on a new home. We can help you estimate your expected return after you sell your current home and pay back your existing mortgage. Contact us for a free evaluation! Closing Costs & Pre-Paid Items Closing costs should also be factored into your savings plan. These may include loan origination fees, discount points, appraisal fees, title searches, title insurance, surveys and other fees associated with the purchase of your home. Closing costs vary but typically range between 2.5 to 6 percent of the purchase price.11 If you don’t have the funds to pay these outright at closing, you can often add them to your mortgage balance and pay them over time. However, this means you’ll have a higher monthly payment and pay more over the long term because you’ll pay interest on the fees. STEP 3 IN PREPARING FOR PURCHASE: ESTIMATE YOUR HOME PURCHASING POWER Once you have the required credit score, savings for a down payment and a list of all your outstanding debt obligations via your credit report, you can assess whether you are ready and able to purchase a home. It’s important to have a sense of how much you can reasonably afford—and how much you’ll be able to borrow—to see if homeownership is within reach. Your debt-to-income (DTI) ratio is one of the main factors mortgage companies use to determine how much they are willing to lend you, and it can help you gauge whether or not your home purchasing goals are realistic given your current financial situation. Your DTI ratio is essentially a comparison of your housing expenses and other debt versus your income. There are two different DTI ratios that lenders consider: Front-End Ratio Also called the housing ratio, this is the percentage of your income that would go toward housing expenses each month, including your mortgage payment, private mortgage insurance, property taxes, homeowner’s insurance and association dues.12 To calculate your front-end DTI ratio, a lender will add up your expected housing expenses and divide it by your gross monthly income (income before taxes).  Back-End Ratio The back-end ratio takes into account all of your monthly debt obligations: your expected housing expenses PLUS credit card bills, car payments, child support or alimony, student loans and any other debt that shows up on your credit report.12 To calculate your back-end ratio, a lender will tabulate your expected housing expenses and other monthly debt payments and divide it by your gross monthly income (income before taxes). Home Affordability Calculator To get a sense of how much home you can afford, visit the National Association of Realtors’ free Home Affordability Calculator at https://www.realtor.com/mortgage/tools/affordability-calculator. This handy tool will help you determine your home purchasing power depending on your location, annual income, monthly debt and down payment. It also offers a monthly mortgage breakdown that projects what you would pay each month in principal and interest, property taxes, and home insurance. The Home Affordability Calculator defaults to a back-end DTI ratio of 36 percent. If the monthly cost estimate at that ratio is significantly higher than what you’re currently paying for housing, you need to consider whether or not you can make up the difference each month in your budget. The allowable back-end DTI varies depending on loan program and borrower qualifications, so the best course of action is to CONTACT YOUR FAVORITE LENDER BY CLICKING HERE or call 833.WE.LOAN.1 and speak with one of our knowledgeable mortgage experts if you have further questions. (Note 1: This tool only provides an estimate of your purchasing power. You will need to secure pre-approval from a mortgage lender to know your true mortgage approval amount and monthly payment projections.) (Note 2: While we’d love to earn your mortgage business as well as your real estate business, many of our buyers do work with other lenders, so you are absolutely welcome to use whatever mortgage, title, or real estate professional you know, like, and trust.) Can I Afford to Buy My Dream Home? Once you have a sense of your purchasing power, it’s time to find out which neighborhoods and types of homes you can afford. The best way to determine this is to CONTACT YOUR FAVORITE REALTOR BY CLICKING HERE or text or #CallYourMama 855.4YO.MAMA and my team would be so happy to assist you.  We help homeowners like you every day and can send you a comprehensive list of homes within your budget that meet your specific needs. If there are homes within your price range and target neighborhoods that meet your criteria—congratulations! It’s time to begin your home search. If not, you may need to continue saving up for a larger down payment … or adjust your search parameters to find homes that do fit within your budget. The great news is…we can help you determine the right course for you, no matter where you’re at in your path to purchase. START LAYING YOUR FOUNDATION TODAY It’s never too early to start preparing financially for a home purchase. These three steps will set you on the path toward homeownership … and a secure financial future! And if you are ready to buy now but don’t have a perfect credit score or a big down payment, don’t get discouraged. There are resources and options available that might make it possible for you to buy a home sooner than you think. We can help. We’re YOUR Home Team. Much Love,  Amanda aka The Marketing Mama The above references an opinion and is for informational purposes only.  It is not intended to be financial advice. Consult a financial professional for advice regarding your individual needs. Sources: myFICO – https://www.myfico.com/credit-education/credit-report-credit-score-articles/ Bankrate – https://www.bankrate.com/mortgages/what-is-a-good-credit-score-to-buy-a-house/ Bankrate – https://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-1.aspx myFICO – https://www.myfico.com/credit-education/improve-your-credit-score/ The Balance – https://www.thebalance.com/having-good-credit-score-960528 Bankrate – https://www.bankrate.com/mortgages/how-much-is-a-down-payment-on-a-house/ Bankrate – https://www.bankrate.com/finance/mortgages/the-basics-of-private-mortgage-insurance-pmi.aspx Bankrate – https://www.bankrate.com/finance/mortgages/removing-private-mortgage-insurance.aspx The Balance – https://www.thebalance.com/fha-home-loan-pitfalls-315673 Investopedia – https://www.investopedia.com/terms/c/closingcosts.asp Bankrate – https://www.bankrate.com/finance/mortgages/why-debt-to-income-matters-in-mortgages-1.aspx The Lenders Network – https://thelendersnetwork.com/fha-debt-to-income-ratio/

You did it! You got approved for a mortgage and you’re finally out looking for a new home.  You may even have a home under contract!  Just be careful during this process because even with a pre-approval letter from a lender, you can still sabotage your ability to get final loan approval if you do any of the following: Put that new sofa on a credit card. Ok, you’ve measured out your potential new living room and that suede sectional is everything you need and more. Do not rack up your credit card with large purchases. In fact, if you can swing it, don’t use any of your credit cards excessively (or at all) and certainly don’t let the payments fall behind. Tell that pushy cashier at Kohls that you’re buying a house, so enough with the high pressure sales to get an additional 30% off! Isn’t it funny how at Kohls you always save, like, $700? I actually really, deeply, truly love Kohls, but, y’all know what I mean.  Whatever store it is, do not, no matter how great the temptation, get any new lines of credit during this mortgage process.  That “extra 20% off today” is not worth the risk of lowering your credit score. You’re getting a new house, don’t go out and get a new car, truck, or van…unless you want to live in them. I’m not kidding.  This has happened.  Settle down with that fabulous credit score and save the new whip for your next big purchase. Don’t even co-sign for a loan for anyone (have I made the “ no new credit until you’ve closed” thing clear?) If your cousin Joey desperately needs a new car and the only way to make it happen is with a co-signer, you are not the co-signer he is looking for! Or, if you are, Joey must wait until you’ve closed. You’ve set aside money for your closing.   Don’t touch it.  The “oops I spent my down payment money,” excuse has never worked for any underwriter. Speaking of money…please don’t make any large deposits into your bank accounts without checking with your loan officer. I know this sounds crazy, because you’d think the more money in your bank account the better, but unexplained deposits can look suspicious to an underwriter, and whatever the deposit is must be documented.  So, just to avoid the hassle, tell your sister she can pay you back for that Spring Break trip AFTER you’ve closed. Speaking of bank accounts…please don’t change bank accounts until after you’ve closed. Keep your job! Even if you’ve been offered the opportunity of a lifetime, or you just simply cannot stand Bob in accounting for one more day of your life….do not change jobs until after you’ve closed. Ignore Bob too. Still thinking about that suede couch? Keep it in mind, but whatever you do, don’t request a credit line increase in order to purchase said suede couch after closing.  Patience is a virtue! Lastly, if your lender requests a document from you, please, for the love of all that is holy, get it to them in a timely manner. By timely manner, I mean within 24 hours.  Ideally, 2-4 hours!  Truly, I cannot tell you how many deals have almost fallen apart because a borrower couldn’t get one little piece of paper in and the contract expired and the sellers didn’t want to extend the contract.  Phew!  So much hassle! Just know that if your lender is requesting a document, it is imperative that you get them that document as soon as humanly possible. The basic overall lesson here, folks, is…major changes in income, assets, or debt can alter the terms of your mortgage or kill your deal all together.  So, if you’re not sure how your action may or may not affect your approval, just ask your lender.  With an open line of communication, we can make your dream of home ownership a reality! CLICK HERE ----> AVOID MORTGAGE DEAL KILLERS THROW BACK VIDEO Much Love, Amanda aka The Marketing Mama

When you wonder "What are your closing costs...." it's important to know "closing costs" are, for the most part, 3rd party fees.  At The Home Team Group, we like to educate our clients through the home buying process by answering this question instead: How much does it cost to buy a house in Florida? In addition to your down payment, which for many 1st time home buyers is around 3.5% of the purchase price depending on the loan program, there are other costs involved with purchasing a home.  From the time you go under contract until closing day, in order to keep your home buying process fun and stress free-it's best to be fully aware of what to expect. You've got your PROPERTY RELATED EXPENSES-like your appraisal and survey, which are included in "closing costs," but you have some other property related expenses that you need to be prepared to have set aside for when you are ready to make an offer on a home.  The most common upfront costs: Earnest Money Deposit - also known as an escrow deposit - that will accompany your offer or seller's acceptance of your offer.  This is how you show the seller that you are serious about this home and you are willing to put your money up in good faith.  There is not a set amount for an earnest money deposit, but your trusted Real Estate Agent will be able to recommend an amount based on the negotiations at hand in combination with our guidance on the most suitable escrow deposit for your financial situation. Generally speaking, though, anticipate around 1% of the purchase price for your escrow deposit. Inspection Fees - According to the U.S Department of Housing and Urban Development, a typical home inspection costs $300 to $500.  While we as your Lender get our property condition from the appraisal, you may want to get a home inspection for your own protection.  If you have a pool, well, or septic tank, you might also get a more detailed inspection within the time frame allotted within your contract.  Each of those inspections may cost additional money, and so it’s best to consult a licensed Home Inspector on those expenses.  Your Real Estate Agent will also be able to recommend some Home Inspectors they’ve worked with and trust.  In addition to saving you expenses for repairs you may not be able to see, there are also some parts of a home inspection report that could save you money on homeowner's insurance. And now we can dive back into how much to expect for Closing Costs.  Closing Costs are paid at the Closing of your real estate transaction.  Closing occurs when the title of the property is transferred from seller to buyer and the keys are given to you.  You will also have Closing Costs when you refinance as your home.  To better help you understand the most common fees associated with closing your mortgage, I made this handy dandy infographic for your perusal: Be prepared for your total cash-to-close, not just for Closing Costs. Another large expense that is not considered “closing costs” but is a significant part of your cash-to-close are your Pre-paid items.  Pre-paid items are just that-payments made in advance.  They fund your escrow account for your property taxes and homeowner’s insurance.  Once you put a home under contract, we update our initial Pre-Approval estimate to the specifics of your contract as well as the property itself, basing your Pre-paid items on the taxes and insurance of that property as well as the dates listed on your contract. Typically, one full year of homeowner’s insurance is collected and prepaid to your insurance company at closing plus an additional cushion for homeowner’s insurance and property taxes so that your escrow account has a healthy amount of reserves for your taxes and insurance to be paid monthly with your mortgage payment. Here's a FUN FACT: Lenders do not set Closing Costs, but rather just provide an estimate of the overall costs for your initial Pre-Approval.  Once you are under contract, Lenders work hand in hand with the Title company to collaborate on fees and expenses.  The approximate percentage of “closing costs” range from 2.5% to 6% of the sales price, on average, depending on the sales price.  I put that in quotations because when our Mortgage division, Home Team Lending, provides Loan Estimates, also included is the estimate of Pre-paid items, which not all Lenders do.  We believe in full disclosure from the get-go, which is why we’ve earned the trust of so many happy clients. After all, a happy client is a client for life!  So, “closing costs” in our way of doing business, are actually more an overall cash-to-close estimate.  While that might seem like a huge spread in percentages, understand that because of fixed costs from 3rd parties (appraisal, survey, title, etc), a $100,000 home may be closer to 6% “closing costs” whereas a million dollar home may be closer to 2-2.5%. Work with Professionals. There are a number of factors that determine what your actual cash-to-close may be, including but not limited to the type of loan, type of property/occupancy, and even credit score-these all play into your loan costs.  So, while we would love our work family here at Home Team Lending to earn everyone’s business, we just urge you to make sure you work with a Lender you trust. We also believe that it is in your best interest to work with a Real Estate Agent when purchasing a home, and of course, the  Home Team Agents would love to assist you! Having a knowledgeable professional who understands the local market to negotiate on your behalf is key to success.  Depending on the type of loan you have, a large chunk of those Closing Costs and Pre-paid items can be paid for by the seller.  And, in Central Florida, where we do the majority of our business, it’s actually pretty common.  So, working with a Realtor® you trust is also important. If you are interested in learning more about getting Pre-Approved for a Mortgage or want to start the process of homeownership, we would love to hear from you.  Call or text 855.4YO.TEAM or email us at info@yourhometeamgroup.com for more information.  Or, if you're ready to get Pre-Approved, you can call 833.WE.LOAN.1. We pride ourselves on being available for our clients 7 days a week.  Buying a home is such an exciting process, we'd love to assist you with your next move. Much Love, Amanda aka The Marketing Mama  

1. Getting Pre-Approved tells you & your Realtor the maximum amount the Lender is likely to loan you; and that helps you narrow down your home search to affordable properties. 2. Getting Pre-Approved gives you an idea of what your monthly payments would be. When you work with YOUR Home Team, our in-house Experts within our Mortgage division (Home Team Lending) not only send you your Pre-Approval Letter, they also provide a break down of your Principal, Interest, Taxes, & Insurance payments and show you your estimated cash to close. This way you are fully confident during your house hunting.  3. Getting Pre-Approved gives you more credibility with real estate agents and sellers. Some agents and many home sellers won’t take you seriously or even let you inside to see a listing until you have a  Pre-Approval letter in hand. They don’t want to waste their time, or yours. 4. Getting Pre-Approved ensures that you don’t miss out on the “perfect home” if you wait until you find “the perfect home” to apply…because the buyer who is Pre-Approved will get the first shot at “the perfect home.” (PS, there are no perfect homes).  5. Getting Pre-Approved can show you how to best use your financial circumstances in the most effective way-not only for contract negotiations but also your financial goals. No surprises = Happy Buyers! If you’re ready to go House Hunting, then we'd love to hear from you. You can call Home Team Agents of lpt Realty 833.4YO.TEAM or CLICK HERE to start your Pre-Approval process or call Home Team Lending at 833.WE.LOAN.1. Alright, alright alright, Amanda aka The Marketing Mama

The process of buying a new home can be both exhilarating and exhausting. But the journey doesn’t stop when you close on your property. On the contrary, you still have quite a bit to do before you can begin the process of settling into your new place.   Fortunately, you don’t have to do everything in a day. You don’t have to do it all alone, either. When you work with us to sell or purchase a home, you’ll have an ally by your side long after your transaction has closed. We’ll continue to be a resource, offering advice and referrals whenever you need them on packing, hiring movers and contractors, and acclimating to your new home and neighborhood.   When it comes to a life event as stressful as moving, it pays to have a professional by your side. Here are some of our favorite pro tips to share with clients as they prepare for an upcoming move. 1. Watch out for moving scams. Maybe you receive a flyer for a moving company in the mail. Perhaps you find a mover online. Either way, never assume that you’re getting accurate information. According to the Better Business Bureau, moving-related fraud is on the rise. In 2021 alone, individuals and families reported more than $730,000 lost to moving scams, an increase of 216% over the previous year.1   How can you tell if a moving deal is too good to be true? Trust your instincts. If the price appears too low or you can’t pin down the mover’s physical business address, try someone else. The same goes for any moving company representative who dodges questions. Reputable movers should offer transparent pricing, conduct in-home estimates, and provide referrals and copies of their insurance documents upon request.2 For help finding trustworthy movers, reach out. We’d be happy to share our recommendations.    2. Insure your belongings. Your moving company promises to take care of your custom piano or your antique furniture. But don’t just take their word for it. Ask to see how much insurance they carry and talk about how the claims process works. That way, you’ll know what is (and isn’t) covered in case of loss or damage.   Of course, some items are priceless because they’re irreplaceable. You might want to move your more sensitive valuables (jewelry, documents, family heirlooms, etc.) in your own vehicle just to be safe. For added peace of mind, call your rental or home insurance provider if you’re moving anything yourself. You might already be protected or be able to purchase extra insurance to cover your move. If those options are unavailable, you could opt for moving insurance from a third-party carrier.3   3. Start packing when you start looking for a new home.   As soon as your house hunting begins in earnest, think about packing away things you won’t need for the next few months. These could include seasonal or holiday decor, clothing, and books. Tackling just one or two boxes a day will give you a head start.   If you're going to put your current home on the market, you'll want to declutter anyway. Decluttering will make your home seem larger, and depersonalizing helps buyers envision their own items in the space. Consider selling, donating, or throwing out possessions you no longer need. The things you want to keep can be placed in storage until you officially start moving to a new place. 4. Pack to make unpacking easier. Have you ever opened a packed box only to find that it’s filled with an assortment of items that don’t belong together? This isn’t efficient and will only make unpacking harder. A better way to pack is to bundle items from a single room in a labeled box. Labels can let movers know (and remind you) where to place each box, whether it’s fragile, and which side needs to be up. Some people like to assign colors to each room in their new home to make distributing color-coded boxes a breeze.   Feel free to unleash your inner organizer with this project. For example, you could create a spreadsheet and assign each box a number. As boxes are packed, simply fill in the spreadsheet with a list of contents. Anyone with access to the spreadsheet can log in and quickly find the desired item.   5. Think outside the box when transporting clothes.   Who wants to worry about boxing up clothes? If you plan on hiring professional movers, ask if you can leave clothing in your dressers. In many cases, they will use plastic to wrap the dresser so the drawers don’t fall out during transport. If keeping your clothes in your furniture makes it too heavy, the movers might be able to wrap and move drawers by themselves.   Another easy transport trick involves turning clean garbage bags into garment bags. Poke a hole in the bottom of a garbage bag, turn the bag upside down, slide it over five to seven garments on hangers, and lay the items flat in the back seat or trunk of your vehicle. The bags will help prevent wrinkling, and your clothes will be ready to hang up when you get to your new home.   6. Document prior to disassembling appliances and furnishings.   Few things are as confusing as looking at a plastic baggie filled with nuts, bolts, and screws from your disassembled dining room table or sorting through a box of electrical wires and cords to see which ones fit your TV.   The best workaround to easier reassembly is to document the disassembly process. Take photos and videos or thorough notes as you go. Whether it’s your headboard or treadmill, be very precise. And just a tip: Construct your beds first when you get to your new home. After a long moving day, the very last thing you want is to be assembling beds into the wee hours of the morning. 7. Prioritize unpacking kids’ rooms. Children can become very stressed by a big move. To ease their transition, consider prioritizing unpacking their rooms as their “safe zones.”4 You aren’t obligated to unpack everything, certainly. However, set up your children’s rooms to be functional. That way, your kids can hang out in a private oasis away from the chaos while you’re running around and moving everything else.   Depending upon how old your youngsters are, you might want to give them decorating leeway, too. Even if it’s just letting them choose where furniture goes, it gives them a sense of buy-in. This can help ease the blues of leaving a former home they loved. 8. Be a thoughtful pet parent.   Many types of pets can’t handle the commotion of moving day. Knowing this, be considerate and seek ways to give your pets breaks from the action. You might ask a friend to pet sit your pooch or keep your kitty in a quieter room, like a guest bathroom.   Be sure to check in on your pet frequently. Pets like to know that you’re around. Give them treats, food, and water throughout the day. When it’s time to transport your pet, do it calmly. At your new property, give your pet access to just a room or two at first. Pets typically prefer to acclimate themselves slowly to unfamiliar environments.5 9. Plan for your move like you’re planning for an exciting vacation.   When you plan vacations, you probably look up local restaurants, shops, and recreational areas. Who says you can’t do the same thing when moving? Create a list of all the places you want to go and things you want to do around your newly purchased home. Having a to-explore list keeps everyone’s spirits high and gives you starting points to settle into the neighborhood.   And don’t feel that you have to cook that first night. Once the moving trucks are gone, you can always pop over to a local eatery or order DoorDash for major convenience. The first meal in your new home should be a happy, welcoming treat. And if you’re relocating to our neck of the woods, we would love to introduce you to all the hot spots in town and recommend our local favorites. 10. Pack an “Open Me First!” box.   You won’t be able to unpack all your boxes in one day, but you shouldn’t go without your sheets, pillows, or toothbrush. Designate some boxes with “Open Me First!” labels. (Pro tip: Keep a tool kit front and center for all that reassembling.)   Along these lines, use luggage and duffel bags to transport everyone’s personal must-have items and enough clothing for a couple of days. That way, you won’t have to rummage through everything in the middle of your move looking for sneakers or snacks.   When packing your “Open Me First!” boxes, think about which items you’ll need in those first 24 hours. For example, toilet paper and hand soap are musts. A box cutter will make unpacking a lot easier, and paper towels and trash bags are sure to come in handy. Reach out for a complete, printable list of “Open Me First!” box essentials to keep on hand for your next move!   LET’S GET MOVING   Getting the phone call from your real estate agent that your bid was accepted is a thrilling moment. Make sure you keep the positivity flowing during the following weeks by mapping out a streamlined, efficient move. Feel free to get in touch with us today to help make your big move your best move. Sources:   Better Business Bureau - https://www.bbb.org/article/scams/24198-bbb-scam-alert-avoid-moving-scams-this-national-moving-mont org - https://www.move.org/how-to-tell-moving-company-scam/ Forbes - https://www.forbes.com/advisor/homeowners-insurance/moving-insurance/ New York Times - https://www.nytimes.com/2020/07/13/parenting/moving-tips-kids.html ASPCA - https://www.aspca.org/pet-care/general-pet-care/moving-your-pet

Homebuyers today are facing a huge dilemma. There simply aren’t enough homes for sale.1   Nationwide, there were 1.27 million active listings in September, down 13% from the previous year. According to the National Association of Realtors, that’s about 2.4 months of inventory, which is far less than the six months that is generally needed to strike a healthy balance between supply and demand.2 Given the limited number of available properties, if you’re a buyer in today’s market, you may need to expand your search to include both new construction and resale homes. But it can feel a little like comparing apples to oranges.   Let’s take a closer look at some of the factors you should take into account when choosing between a new build or an existing home.   TIMEFRAME How quickly do you want (or need) to move into your next home? Your timeframe can be a determining factor when it comes to choosing between a new build or resale. New Build If you opt for new construction, you may be surprised by how long you have to wait to get the keys to your new digs. Currently, many home builders are dealing with unique challenges brought on by the COVID-19 pandemic, including rising costs, labor and material shortages, and shipping delays. While historically it took around five to six months to build a home, many builders are now reporting construction timelines closer to a year or more.3 These issues have led some builders to cancel contracts or raise the price on unsuspecting homebuyers long after agreements were signed. Unfortunately, this scenario can throw a major wrench in your moving plans and significantly delay your timeline. To minimize these types of surprises, it’s crucial to have a real estate agent represent you in a new home purchase. We can help negotiate better contract terms and advise you about the potential risks involved. Existing Home If you're in a hurry to move into your next residence, then you may want to stick to shopping for an existing home. You can typically move into a resale home as soon as you've closed the deal. The average time it takes to close a home purchase is around 51 days, but it can vary based on loan type and market activity.4 If you need to move even sooner, it’s sometimes possible to close faster, especially if you’re a cash buyer. In fact, many sellers prefer a quick closing, so it can give you an advantage in a competitive market.   LOCATION From commute to construction to amenities, there’s a lot to consider when choosing your next neighborhood. New Build With a brand-new home, you're more likely to move into a neighborhood that's located on the edge of town and is still undergoing development.5 This could mean a longer commute and ongoing construction for some time.   However, new developments can also offer a lot of amenities that appeal to modern homebuyers. Water features, hike-and-bike trails, tot lots, and dog parks are just a few of the enhancements we’re seeing pop up in master-planned communities across the country. And some feature new schools and their own urban-like centers with restaurants, retail, and office space.6   Existing Home An existing home is more likely to be located close to town in a neighborhood with mature trees, established schools, and a deeply-rooted community. As a result, you may find the neighborhood's trajectory to be more predictable than an up-and-coming area.   But the amenities may be lacking and the infrastructure dated when compared to newer communities. And while some homebuyers love the charm and eclectic feel of an older neighborhood, others prefer the sleek and cohesive look of a newer development.     MAINTENANCE Are you a DIY enthusiast, or do you prefer a low-maintenance lifestyle? Set realistic expectations about how much time, effort, and money you want to devote to maintaining your next home.  New Build When you build a home, everything is brand new. Therefore, in the first few years at least, you can expect less required maintenance and repairs. A 2019 survey found that millennials' homebuying regrets often came down to maintenance issues, rather than other concerns.7 So if you would rather spend your weekends exploring your new neighborhood than fixing a leaky faucet, you may be happier buying a turnkey build.   That doesn't mean, though, that a new home will be entirely maintenance-free. In fact, depending on the builder, you could find yourself repairing more than you expected. Some home builders have reputations for shoddy construction and subpar materials, so it's important to choose one with a solid reputation. We can help you identify the quality builders in our area.   Existing Home No matter how good a deal you got when you purchased it, you could come to regret buying an older home if it costs you heavily in unexpected maintenance and repairs. According to HomeAdvisor's yearly True Cost report, home renovations have grown more expensive in recent years. For example, installing a new HVAC system could cost you $5,371 on average. And you can expect to pay nearly double that amount ($9,375) for a new roof.8   Fortunately, there are ways to prepare for these large expenditures. We always recommend that our buyers hire a certified home inspector, whether they buy a new or existing home. Once we have the inspector’s report, we can negotiate with the seller on your behalf for reasonable repairs or concessions.   ENVIRONMENTAL IMPACT  On a quest for greener living? If so, there are several factors to consider when deciding on your next home.   New Build There’s a growing demand for energy-efficient housing, and many builders are rising to the challenge. Nearly 1 in 4 homes built in 2020 received a HERS (Home Energy Rating System) Index Rating by the Residential Energy Services Network. A HERS rating provides an index score that compares the newly-built home to those that were standard in 2006. The more energy-efficient the home is, the lower the score it receives.11   The average home rated in 2020 was 42% more efficient than those built in 2006 and 72% more efficient than a typical home built in the 1970s.11 So if energy efficiency is a top priority, a new home with a low HERS rating may be a good choice. You can also look for one that’s ENERGY STAR Certified, which means it meets a series of strict efficiency guidelines set by the Environmental Protection Agency. In 2020, only 7.9% of homes built in the U.S. received this designation.12   Existing Home Of course, a basic tenet of sustainable living is: reduce, reuse, recycle. And since a resale home already exists, it automatically comes with a lower carbon footprint. Research has also shown that remodeling or retrofitting an older home is often greener than building one from scratch.13   With some energy-conservation effort and strategic upgrades, environmentally-conscious consumers can feel good about buying an existing home, as well.   DESIGN Open floor plan? Kitchen island? High ceilings? Must-have design features could drive your decision to build or buy resale.   New Build With a new home, you can bet that everything will look shiny and perfect when you move in. Builders tend to put a lot of emphasis on visual details and follow the latest design trends. For example, newly-built homes are likely to feature an open floor plan, central kitchen island, and 9+ foot ceilings, which are must-haves for many modern buyers. They are also unlikely to feature carpet on the main level or laminate countertops, both of which have lost mass appeal.14   However, some buyers complain of the cookie-cutter feel of new homes since they are often built with a similar aesthetic. That doesn't mean, though, that you can't incorporate your own style. We can help you negotiate custom features and upgrades to personalize the space and make it feel like your own.   Existing Home In some of the most coveted neighborhoods, an older home with classic styling and character can be highly sought after. But unless the previous homeowners have invested in tasteful updates, an existing home is also more likely to look dated.   While some buyers prefer the traditional look and character of an older home, others crave something more modern. If that’s the case, we can help you find a resale home that leaves enough room in your budget to renovate it to your liking.     WHICHEVER PATH YOU CHOOSE, WE CAN HELP When it comes to choosing between a new build or an existing home, there’s no one-size-fits-all answer. There are numerous factors to consider, and you may have to make some compromises along the way. But the homebuying process doesn’t have to feel overwhelming.   YOUR Home Team is here to help. And in many cases, our homebuyer guidance and expertise are available at no cost to you! That’s because the home seller or home builder may compensate us with a commission at closing. Some new-construction homebuyers make the mistake of visiting a builder’s sales office or even purchasing a home without their own real estate representative. But keep in mind, the builder’s agent or “sales consultant” has their best interests in mind—not yours.   We are knowledgeable about both the new construction and resale home options in our area, and we can help you make an informed decision, negotiate a fair price, and avoid mistakes that can cost you time and money. So give us a call today to schedule a free, no-obligation consultation—and let’s start searching for your next home!     Sources: Reuters -https://www.reuters.com/world/us/us-existing-home-sales-fall-august-inventory-declines-2021-09-22/ National Association of Realtors -https://www.nar.realtor/newsroom/existing-home-sales-ascend-7-0-in-september KFVS 12 -https://www.kfvs12.com/2021/09/22/covid-19-pandemic-affects-delivery-rate-building-materials/ Rocket Mortgage -https://www.rocketmortgage.com/learn/time-to-close-on-a-house Real Assets Adviser -https://irei.com/publications/article/master-planned-communities-changing-u-s-housing-trends-favor-investors-can-benefit/ Builder Online -https://www.builderonline.com/land/development/5-master-plan-trends-home-buyers-gravitate-toward-today_o Bankrate -https://www.bankrate.com/real-estate/homebuyer-regret-survey-may-2021/ Home Advisor -https://www.homeadvisor.com/r/true-cost-report/ Roofing Calculator -https://roofingcalculator.com/news/how-long-do-roofs-last Plumbing and Mechanical Engineer -https://www.pmengineer.com/articles/94873 National Association of Home Builders -https://nahbnow.com/2021/10/nearly-1-in-4-new-homes-in-2020-was-hers-rated/ EnergyStar -https://www.energystar.gov/newhomes/energy_star_certified_new_homes_market_share Advanced Materials Research - https://www.researchgate.net/publication/271358381_Comparative_Study_of_New_Construction_and_Renovation_Project_Based_on_Carbon_Emission National Association of Home Builders https://nahbnow.com/2020/04/most-likely-and-unlikely-features-in-a-new-single-family-home/