Here is an article in the Harold Mail about some of my buyers from Ridges of Tuscarora. The full article focuses on buying trends in the surrounding area’s and how many buyers are moving to WV, to take advantage of the great value we offer here in the Eastern Panhandle of West Virginia. Follow the link at the bottom for the full article.
Sean and Ashley Carroll wanted a new home last year, but seemed trapped by the economy — until they gambled on a financial escape route this past fall.
The Carrolls, having bought a town house in Boonsboro in 2007 just before the nation’s recession began, had paid tens of thousands of dollars more than the home now was worth. And in 2013, with the market beginning to strengthen, their alarm intensified.
“We were worried that if we waited ’til the time came where the appraised value went up on the town house, where we could get away clean, then we wouldn’t have the ability to buy anything else,” Sean Carroll said in a recent interview.
So after careful planning, the couple, both 28, accepted the responsibility of paying two mortgages at once by keeping their townhome and renting it, while buying a new house in Martinsburg, W.Va.
“If something happens with our jobs or with our renters, that’s the big risk of this whole thing,” Sean Carroll said. “That was the thing we spent the most time talking about — if something happens.”
With him a firefighter and her a teacher, “luckily, both of us have fairly stable jobs, being government employees,” he said. “If, for some reason, we lost renters, that would put us in a pretty significant bind, and then we’d have to make up both mortgages. That’s a huge risk.”
Check out this article in the Herald Mail, “Is this a good time to sell”. I was quoted in the article, and was asked about the local real estate market in the eastern panhandle. Check out the full article by following the link at the bottom of the page!
“Real estate, regardless where you’re at, is very, very local,” said Aaron Poling, president of West Virginia’s Eastern Panhandle Board of Realtors. “So you want to go find the Realtor that knows the most about your community, get their advice, get them to do a market analysis.
“Overall, I think it’s a great time to list, but it always comes down to your very specific situation. My default answer is: Talk to the Realtor that knows your very specific area.”
“They might know about some foreclosures that are out there or other properties” that are depressing prices in your area and that could affect the appraisal of the home you’re trying to sell, he said.
“They may know very specific things, like trends of when the majority of folks list or buy in your community,” he said. “There’s trends in every specific area.”
Great article from msn.com, The Five Rules for Real Estate. I would recommend these tips to buyers and sellers looking to get into the real estate market. These are some common sense rules that often get overlooked.
1. Don’t make an offer without pre-approval
Getting pre-approved means a lender has vetted your credit and financials and is so far willing to continue the mortgage dance. Pre-approval letters detail your purchasing power and provide sellers and real estate agents a degree of confidence they won’t get anywhere else.
2. Use a real estate agent
For many consumers, buying a home is the single biggest purchase they’ll ever make. It’s something you’ll do maybe a handful of times. It can pay to have an expert in your corner.
3. Put down earnest money
It’s customary, if not legally required, to provide a deposit when you make an offer on a home. Known as earnest money, this deposit is typically 1-2% of the purchase price, although the amount can vary by location and other factors.
4. Sell yourself
Don’t just submit a solid offer and cross your fingers if you’re shopping in a competitive real estate market. Take every opportunity you get to tell your story and sell yourself.
5. Tour homes in person
Mobile video technologies like Google Glass are ushering in a new era for home tours. Cool tech and new apps can be a huge help for consumers moving to new states or service members purchasing homes during a deployment.