Our Blog - Page 6 of 9 - Logical Choice Realty Group

Ready to Buy Your First Home?

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There are steps you can take that will help make your first home buying process easier by taking the steps that are necessary to be prepared; especially financially. Improve or Build Your Credit- Your credit is one thing that will help determine what type of home loan you will qualify for, and how much of a loan you will be able to secure. It will also play a part in what your mortgage interest rate will be. There are many elements that go into securing a mortgage to buy a home. But, having a higher credit score could lead to you getting a lower monthly mortgage payment. Here are some tips for you to make sure that your credit is in good shape for when it’s time to buy: Track your credit. Look over your entire credit report from all three reporting bureaus: Equifax, Experian, and TransUnion. These outlets will…

What Does the Word “Home” Mean to You?

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There are many emotional reasons for choosing the home you do when purchasing. There are also financial benefits of owning your own home. Both are important. But, in today’s market, how do you know when (or if) it’s the right time to buy? So, what does the word “home” mean to you? It has a different meaning for everyone. It may be sitting around the kitchen table sharing stories, playing games or eating family meals, or curling up with your favorite book in that cute little reading nook, or spending weekends in your outdoor space by the pool with friends. The emotional side of owning a home is made up of all these things. And, while the financial benefits are important as well, it’s definitely all the special things about the house, and its potential, that make it home. 1) Owning your own home is a huge accomplishment. The feeling…

What Are the “Must Haves” for Your Next Home?

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Yes, it’s true. Mortgage rates are higher than last year. If you’re thinking about buying a home now, the higher mortgage rates are probably on the top of your mind because the higher rates impact how much it’s going to cost you to get your home loan. So, as you are proceeding with your home search with your eye on purchasing your first or next home, be strategic- so you can find the home that meets your needs and your budget. It’s important to be aware of what’s actually necessary to have in your new home, and what would be “nice” to have. So, get out a piece of paper and a pen and start making a list; on one side – what is necessary, and on the other side; what would be “nice” to have. This will give you a good idea of what’s most important, and how you…

A Helping Hand: Realtors Helping Our Neighbors after Ian

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The Real Estate profession: It’s much more than just selling houses. It’s about helping to make a house a home for our clients. It’s about forming long-lasting relationships, offering expertise and referrals from our list of reputable home improvement specialists and vendors, mortgage brokers, title companies, and much more! Logical Choice Realty Group is privileged to live in and be part of the Southwest Florida community and local real estate market. And, when our area is impacted by a disaster, we, as well as others in the real estate community, are always quick to act and offer support. This is certainly the case with Hurricane Ian. Six regional Realtor associations, MLSs, TRIBUS and Solid Earth have worked together to launch a website providing housing options for those displaced by Hurricane Ian. The website, HurricaneHomes.org, launched with 6,000 homes for rent available immediately for those displaced in Southwest Florida. Other disaster resources…

Knowing How to Hire a Contractor Post Hurricane Ian

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Knowledge is power. A contract should spell out specifically what work is to be done, including materials. If you’re filing with an insurance company, let them approve it first. There should also be a timeline for payments and for completion of the work. (See the list of other specific advice below.) Read everything carefully. While licensed contractors are required to use standard contracts, others just know how to con people. For instance, in your time of need and dismay, they might slip in notations on the contract they are asking you to sign such as- stipulating that the consumer has to pay them even if the job isn’t finished. Important things to check for is the contractor’s liability insurance (liability insurance gives the consumer recourse if problems arise), and worker’s compensation insurance, (without worker’s comp, the homeowner could end up being sued over worker’s injuries). Never give any contractor money…

Investing in Rental Properties

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There are several ways to invest in real estate. It can actually be broken down into two categories: investing in a property with the intention to resell it for a profit and investing in a property long-term and renting it. One benefit of investing in a rental property is that it has the potential to provide two types of return. 1) It can provide appreciation over the long-term if its value increases over time and/or due to improvements that are made. Also, as the mortgage is paid down over time, equity in the property will increase. 2) It has the potential to have an ongoing return in the form of positive cash flow earned by renting the property out to tenants for monthly payments that exceed the owner’s overall monthly expenses to maintain the property. If an investor can secure good financing for a rental property that can produce positive…

Making Home Improvements Can Increase the Value of Your Home

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Is your goal to give your home that much needed facelift? Are you making improvements to increase its value so you can sell it? Either way, making some changes can increase your home’s value. Clean and De-clutter You can help boost the value of your home by decreasing the amount of “stuff” that’s in it. Cleaning and de-cluttering are inexpensive tasks, even if you own a larger home. Even if you hire someone to help you clean and de-clutter your home, the benefits are many. You’ll live in a healthier environment, you’ll probably enjoy your space a lot more, and it will increase the value of the home. You don’t even have to hire someone if you are willing to use a little elbow grease. Go through cabinets and closets and make donation piles. Clean out drawers and storage areas. Don’t keep anything you don’t need or want. If you…

Is Your Home Search Back On?

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If you put off your home search over the last couple years, it may be time to pick it back up. Recent data shows the supply of homes for sale is increasing, giving buyers more to choose from.  Keep in mind though, that while home inventory is better, it remains a seller’s market. Prices are still up, and mortgage rates have changed. Here is some advice if you are again ready to embark on finding your dream home. Mortgage Rates Impact What You Can Buy  Mortgage rates have increased this year and continue to fluctuate. You should stay up to date on what’s happening with mortgage rates and know just how they may impact your purchasing options. For instance, if your budget allows for your monthly mortgage payment to be $2000, then make sure that you know what that means for how much you can spend on a house. Remember, even…

Sell Your Home Faster with These Tips

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Preparing your home for potential buyers is important. Showing your home in its best light will help you sell your property faster. There’s also a very good chance that you’ll be able to sell it for a higher price! Declutter – but keep it homey Get rid of things that clutter your home. Put it in storage, sell it, give it away or put it in the garbage pile. After all, if you haven’t used it in over a year, chances are you never will. Remove big, bulky furniture that makes the room feel smaller than it actually is. Maybe you’ll replace it with smaller pieces, or just eliminate it altogether. Potential buyers should be able to envision what the home would look like if they were living in it. Make it as easy as possible for them to see themselves living there. Give it a coat of…

Is it a Housing Bubble?

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It does looks familiar… So, is it a housing bubble? Home prices are high, housing is in demand. Is the current real estate market too good to be true for sellers? Supply of Housing In 2021, home values appreciated an average of 15% across the United States. Even though this year’s growth is not expected to match that, buyers and sellers still worry that home prices are too high and that depreciation is likely. But, unlike the housing bubble in the mid-2000s, the major factor driving up home values is that we’re also in a large inventory shortage. A balanced real estate market’s inventory is about 6 months. Today’s current market is a little over 1.5 months- that means there is a historically low amount of homes for sale. From 2005 to 2007 housing inventory increased from 5 months to 11 months, an over-supply of homes that did not warrant…

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