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FAQs
WHEN’S THE BEST TIME TO SELL MY HOME?
I get this question a lot and it genuinely can’t be answered with a simple or generic answer. For decades, people have primarily thought that spring was the optimal time to sell, but times have changed lately. The truth is that the “best” time to sell a home is different, even within the same city from neighborhood to neighborhood.
Since every situation is different, we would set up a free consultation to have a comparative market analysis (CMA) done. This will give us a more specific picture of what is happening around you!
HOW DO YOU KNOW HOW MUCH MY HOME IS WORTH?
There are a few methods that can be used to determine the value of a home. The most common way is by completing a comparative market analysis, which is an in-depth evaluation of recently sold similar homes within the past 3 to 6 months. A CMA isn’t a crystal ball, but when it’s done effectively, it should narrow the sale price range appropriately.
CMAs will take into account many features of not only a home, but also the local area and neighborhood. Additional items considered include, but are not limited to: square footage, number of bedrooms, number of bathrooms, upgrades to kitchen, window quality, roof age, physical location, etc.
WHAT’S THE FIRST STEP TO BUYING A HOME?
The very first step of the buying process is getting pre-approved. Really? Yep!
Let me tell you why this makes the most sense. Sellers are ready to move. They have invested time and energy in getting their home ready for the market. Being equipped with a pre-approval shows the sellers that you are just as serious as they are. Being pre-approved also shows us exactly the price range you need to be looking for homes in. Imagine starting to look first, falling in love with a home, and then not being able to buy it. Talk about disappointing. Always, always get pre-approved first!
DOES CREDIT MATTER?
Credit is definitely an important piece of the home buying puzzle, but you do not need a “perfect” credit score to qualify for a home. That said, the higher the score, the better the interest rate. It can definitely make a difference to take some time and improve your scores, if needed. Typically, the minimum credit score for a conventional loan is 580+ and the minimum credit score for a first time home buyers program or down payment assistance program is 620+.
"A house is made of brick and mortar, but home is made by the people who live there.”
-M.K. Soni
Contact
NC Realtor®/Realtist
C: (704) 458-0910
O: (980) 938-8920
F: (877) 575-0319