Tag: buyers agent

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Home Buying Tips Home Insights Newsletter Featurettes

4 Things You Should Know About Buying During the Holidays

For many buyers, purchasing a home over the holidays can be ideal. In addition to competing against fewer buyers, you’ll finish the season off with the greatest gift of all — a new place to call home for years to come. Here are four t insights you can use as you purchase a home in Central Kentucky this holiday season.

 

1. You’ll compete against a smaller, committed pool of buyers

The holidays are a less popular time to buy a home, so you may see fewer buyers at open houses. Don’t assume this means you are without competition – holiday buyers are more dedicated to getting to the closing table, and multiple offers are still possible due to limited inventory in many areas. Be prepared to move quickly on a home that meets your criteria.

 

2. Think twice about putting in low offers

You might think that people selling over the holidays may be extremely motivated to move and willing to accept an offer for well under asking price. While Scrooge would approve of this philosophy, most sellers simply aren’t that desperate. To avoid losing a home you love, make sure your initial bid is competitive.

 

3. Limit your travel and don’t overschedule yourself

It can be difficult to slow down during the holidays, but in our fast-moving market, you’ll need to work around seller schedules. Whether you find a house through online searches or your Rector Hayden Agent sends a hidden gem your way, your goal should be to see it in person as soon as possible.

4. Ready to find “the one” this holiday season?

If you’re hoping to get a head start on buying before the hectic spring market arrives, start now! Contact your Rector Hayden Agent today to get started.

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Home Buying Tips Home Insights Newsletter Featurettes

6 Tips for a Successful Home Search

Thinking of buying? 

Whatever the reason – a recent “life event”, upsizing, downsizing or tired of paying rent
– it’s a great time to achieve your homeownership goals!

Pre-Tip: Get a Rector Hayden Agent to assist you.

#1.  Determine your limits

Financial experts often say that you shouldn’t spend more than 28 percent of your total income on housing, but it really varies for each person.  Keep in mind that your current credit score will be a major factor in how much money you can borrow.

You can determine your general range by playing around with online mortgage calculators, but it’s best to work with a lender to get pre-approved for a mortgage.  Why?  Well, the difference between a $200,000 and $250,000 home can be stark, and it’s best not to get your hopes up before you know what you can afford.  Your Rector Hayden Agent will be invaluable in guiding you to the best lenders in town – including Rector Hayden Mortgage!

#2.  Begin the hunt

Now the fun stuff – the online search!  Just 20 years ago, buyers had to search through thick, printed listing books to find homes that matched their price and location. Luckily today, your search can begin from your couch……or while in line at Starbucks.

Rector Hayden’s top home-search website and exclusive home search app have every available MLS listing in Lexington and Central Kentucky – updated at the top of every hour — so you can perform the most accurate and up-to-date searches!  Set up an account on either and save and share homes with your family and friends – as well as connect with your agent so they can see your likes and dislikes as well!

#4.  Finalize your needs

You may find yourself falling in love with homes in different locations, with varying styles, prices and features. That’s actually a good thing in today’s seller’s market — to get to the closing table, it may be necessary to keep your mind open to several options.

Work with your Rector Hayden Agent to determine your top needs, and then keep in mind the qualities and amenities that are unlikely to change versus those that you can alter. For example, a neighborhood’s walkability is pretty set, but you can always tear up carpet to put in hardwood floors, or refinish a kitchen to get the farmer’s sink you love. Once you have an established set of needs, it’s time to begin looking in earnest.

#5.  Tour inside homes…and think resale

Your Rector Hayden Agent will set up the showings for you – and as you view the homes and get the overall “feel”, if can be beneficial to think of yourself as an inspector. Pay attention to when upgrades were done, or if appliances have been replaced recently. It’s important to take note of how much work your eventual home will need.

It’s also good to talk with your Rector Hayden Agent about the potential resale value of the home.  At this point, you may not have any thoughts about ever selling – but it’s wise to ensure that your investment will be a good one in the future, should you ever decide to sell.

Want to learn more about the Home Buying Journey?  Walk through our online e-journey to get a feel for all of the steps toward buying your next home.  But remember, a Rector Hayden Buyer’s Agent is your BEST resource on your home buying journey!

buyersjourney_screenshot

 

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Home Buying Tips Home Insights Newsletter Featurettes

5 Tips to Compete in Multiple Offers!

Over the past few months, our local market here in Central Kentucky has seen its lowest inventory in over a decade. With a shortage of homes for sale in Lexington and Central Kentucky, buyers may find themselves in multiple offers in this market.

Common wisdom says that the highest offer will win every time, but the reality of multiple offers is a bit more complex. Here are insights you can use if you enter multiple offers when buying a home this year.

 

1. Assess the market

Your Rector Hayden Agent will help you identify if multiple offers are common in the homes, neighborhoods and price point you want to buy. If you’re hoping to purchase in the higher-demand areas and subdivisions in Lexington and Central Kentucky, it’s likely that you’ll need a multiple offers plan before you enter the market. Remember, real estate is all about location and local quality of life, so hiring a specialist who can advise you properly will be critical to making the right bid.

 

2. Go BIG to Get Home

While the highest bid isn’t the only consideration sellers make, you’re unlikely to get the sale if your offer is at the bottom of the heap. When making an initial offer on a home in high demand, your Rector Hayden Agent can help you make an attractive offer. Together, you can strategize on the benefits of making your best offer out of the gate — meaning you would walk away if the home still hit multiple offers — or offering below your “ceiling” in order to have leverage once other bids come in.

 

3. Nix the Contingencies

In a market where buyers have the advantage, contingencies are common. Buyers may make an offer that is contingent on the sale of their own home or on a passed home inspection. When sellers have multiple offers to choose from, they are unlikely to look at offers that include such contingencies. Provided the home is free of major issues, consider making a “clean offer.” This could be one way to appeal to a seller outside of having the highest offer.

 

4. Put Cash Down

Another way to impress sellers is to prove you can pay a substantial amount of money at closing. If you can afford a down payment of roughly 10 to 20 percent, the seller and their agent may feel more comfortable with you than another buyer who has less to offer up front. We’ll work with your mortgage loan officer to ensure you’re making a strong — but safe and comfortable — offer.

 

5. Offer Better Timing

One last way to stand out in multiple offers is to offer the seller a beneficial path to closing. If we know the homeowner is hoping to sell the home immediately, it would benefit you to offer a closing with a month or even a few weeks. If the seller is waiting on a new construction home that won’t be ready for 60 – 90 days, offer a delayed closing. When multiple bids are close, these types of generosities can make all the difference.

 

Are you ready?

Ready to enter this hot market? We can discuss the frequency of multiple offers in your selected area, then determine your strategy for standing out no matter what your budget. Reach out to your Rector Hayden Agent today to get started!

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Home Buying Tips

5 Tips for Showing Houses in the Snow

Wear Appropriate Shoes and Clothing when Showing Houses in the Snow

Dress Appropriately When Showing Houses in the Snow!

This is the most important tip for showing houses in the snow!
Safety is our top priority at Rector Hayden, and snowy property can make for a more difficult showing day.

Wear sturdy shoes with good traction.  Snowy/Icy days are not the time for your gorgeous Jimmy Choo’s you received for Christmas or your slick-bottomed dress loafers.  Choose good snow boots with a thick tread so that you’ll also have the best balance and your feet will stay warm and dry.  Snow boots will not make you unprofessional, but rather give credit to your character as one smart agent!

Dress in layers.  You may be showing homes without the heat turned on which would increase your exposure to cold temperatures.  Have a scarf, hat, and mittens to protect extremities.

Take Hand Warmers and Protect Extremities when Showing Houses in the Snow

Bring Instant Hand Warmers

As a follow-up to dressing warmly when showing houses in the snow, a great investment is to keep some instant hand warms ‘handy’.  Keep them in your pockets to warm up your fingers – and as a great gift to assist your clients and keep them happy and cozy while they look.

You can buy in bulk on Amazon! http://www.amazon.com/HotHands-Hand-Warmers/dp/B00PX20LO0

Keep Cat Litter or Pea Gravel in your car in case of emergencies while Showing Houses in the Snow

Keep Cat Litter in your car

Whether or not you have a 4-Wheel Drive Vehicle, keeping a bag of pea gravel or cat litter in your car can be a great asset in case you become stuck.  Many times snow plows push drifts up into the driveways of homes and along the curbs of residential areas.  You and your client may have trouble parking in cleared areas and become stuck on ice or snow.  Pouring cat litter or gravel around your tires can help gain traction and pull your car out of a rut.

Have a Tow Truck Number on hand just in case while Showing Houses in the Snow

Have a tow truck number on call

Just in case the kitty litter trick doesn’t help – keep a tow truck number saved in your phone or planner.  Maybe even a company you’ve worked with before!  If your client’s car (or your own) gets too stuck, having a number ready to call is professional and helpful.  It could very well make a lasting impression with your client that you cared enough to help them with their vehicle.

Don't Forget to Stay Hydrated when Showing Houses in the Snow

Stay hydrated

Dehydration in the winter is actually a very common ailment – for an agent or a client!  With cold temperatures and harsh winds, it can be easy for your skin to become dry and cracked, as well as it may deter you from drinking enough liquids throughout the day.  However, staying hydrated is key to feeling your best and avoiding catching illnesses.  Bring some water bottles (they’ll stay chilled enough in your trunk).

 

BONUS TIP:

appblockStay Warm and Cozy – search for your next home using the Rector Hayden Home Search App!  Available FOR FREE on the Apple App Store and on Google Play!  Browse nearby homes using augmented reality, see full-resolution photo galleries and even look at commute times for your potential dream home!  Download Central KY’s Best Home Search App Today: http://app.rhr.com/