The Importance of Pricing Your Home Properly

When you choose to work with a Realtor®, they’ll know the importance of pricing your home properly the first time. If the price is too high, your home will linger on the market for months. If the price is too low, you may be leaving thousands of dollars on the table. Here are some of the reasons why pricing your home incorrectly the first time could lead to it sitting on the market for many months.

Delaying or Preventing the Sale

An unrealistic price may prevent or delay the sale of your home. You may choose to lower your price later, but by that time you may miss many of the most interested buyers. If your home sits on the market for too long, it will begin to get “stale”. Buyers may think that there is something wrong the longer the house sits on the market. If your home has been on the market for months to years, you may be inclined to lower the price below competing houses in order to ensure a quick sale. The first 30 days your home is on the market is key. Chances are when your home is priced properly, this is when you will receive an offer.

When your home is priced right, buyers will want to view it and the property doesn’t raise questions as to why it has been on the market for so long.

Little to No Showings

At the appropriate price, you will have many showings from qualified and excited buyers. In turn, if your home is overpriced, you will likely have little to no showings. Those who look may be disappointed and many qualified buyers won’t look. The value of the property is seen by buyers when they are comparing properties in a similar price range. If a property has been on the market for far longer, they may decide against considering that property.

Showings are important because in order to sell your home, it needs to be seen! The more showings you have, the better your chances are of securing a buyer.

Potential Buyer May Not Bother or Hesitate To Write an Offer

This is true for homes that are overpriced. Some of the reasons they may write an offer are:

  • They don’t want to offend the seller by offering at a price substantially lower than what the home is listed for.
  • They may think that if the seller was willing to sell for less, they would have listed at a lower/ more reasonable price.
  • They may assume that the seller has already turned away any low ball offers because of the time it has been on the market.

You may lower your price later, but by that time you may miss many of the most interested buyers.

It’s important to listen to your Realtor® when it comes to the listing price. You will most likely have emotional ties to your home and it is important  not to let that get in the way. Even if you think your house is the best on the market, you should look at similar houses in the neighbourhood and see what they are priced at. You don’t want to make the mistake of helping the competition by over pricing your home.

What You Should Know Before Buying a Strata

Strata properties are a popular housing choice for people in BC. Strata housing can include: condos, townhouses, duplexes, even single family homes in bare land strata corporations. Buying a strata can come with many benefits. Usually, they come at a lower price point, allowing first time buyers a way into the real estate market. They also require low property maintenance; you only have to maintain your own strata lot, the common areas are maintained for you. Other benefits can include: heightened security, sense of community, cost sharing for repairs, and added amenities. Even though strata’s have many obvious benefits, there are a few things you should make sure you look into before you make the final decision to purchase.


Monthly Strata Fees

When living in a strata, you will most likely be required to pay a monthly strata fee. Your monthly strata fee will go towards the common expenses of the strata. It’s important to remember that this is will be an added expense and to budget accordingly.

Depending on the strata, you may also be required to pay a special assessment. Special assessments, where you have to pay lump sum amounts, may happen if the strata votes for major upgrades or if contingency accounts need to be topped up.

You’ll want to determine what you are required to pay towards the strata before you enter into a purchase agreement.


Strata Bylaws

Each strata corporation will have a set of bylaws and rules that can limit what you can do in the common property areas as well as inside your own unit. Some strata’s have restrictions on rentals, pets, the minimum age allowed, and smoking. You may also be restricted on the alterations you can make inside your strata lot. You should carefully review the bylaws and rules to make sure that you can use your strata lot the way you intend to.

Strata corporations are responsible for making sure the bylaws and rules are followed. If a bylaw or rule isn’t followed, it can result in a costly and unwanted fine.


Strata Documents

Reviewing the strata minutes is a must do before you enter into a purchase agreement. Even though it may seem like a lot of reading, you and your agent should look at the minutes from the past 2 years. The minutes will give you information as to if there are any issues within the strata, whether or not there are any major repairs that need to be done, and it will give you an insight as to how the strata is run.

In addition to reviewing the minutes, you will also want to take a look at:

  • The budget and contingency reserve fund – a portion of your monthly strata fees are set aside in a contingency reserve fund. This fund is used to pay for major maintenance and repairs to the common areas. You want to see if the current contingency fund has enough to cover any upcoming expenses.
  • Depreciation Report – this report outlines the condition of the building. It will include the condition of siding, windows, roof, plumbing, heating structure, and systems. It will tell you when these things will need to be repaired or replaced in the future. It’s a great way to find any upcoming costs.
  • Form B – This will outline your monthly strata fees, any funds, rental disclosure, parking, storage, and more.
  • Engineering Reports (if any)
  • Strata Plan

Parking and Storage

If having a parking spot (or two) and extra storage are important to you, make sure you check if these features come with your strata lot. Sometimes these things are not included, or may be included for an additional price.


Strata documents can be overwhelming at times, and lots of people make the mistake of not reading them. Your REALTOR® can help you with reading and understanding these documents. They can quickly point out any red flags or areas that may be of concern. If you’re interested in purchasing a strata lot, but don’t know where to start, ask your REALTOR®. We’re here to help!

5 Reasons Why You Should Think About Renovating Your Home

Looking to freshen up your home? Want to update so you’re not only more eco-friendly but your also incorporating modern trends? Renovating may be a good option for you and here are some reasons why.


Comfort and Enjoyment

The first reason you should be renovating your home is to enhance your own comfort and enjoyment. Updating your home the way you like it will improve your quality of life. You may choose to renovate your kitchen, because that is a key room where people gather and hang out. Or you may choose to renovate your master bathroom to give it a spa-like feel. Either way, if you choose to renovate solely on increasing the value of your home, you may find that you feel like you are living in a show room instead of a home. You want your renovations to be something that you enjoy. A good question to ask yourself would be: “Is this the way I want my home to look for years to come?”


Increase the Return on Investment

Another great reason to choose to renovate is because once you do so, you are increasing your properties value and will fetch a higher price if you choose to sell. Some great places to renovate to increase your properties value include: opening up the main living space, replacing the front door and making the entrance more appealing, and updating the kitchen and bathrooms.


Update Outdated Features

Keeping your home updated is an important factor to consider when you decide you want to renovate. Doing so will keep it from looking plainer and less attractive to buyers. Fresh paint on the walls and baseboards, a clean-up of the exterior, and timeless styles are all ways that you can accomplish this. You may also choose to upgrade your homes function by replacing old hardware and décor with something newer and more functional.



Make Your Home More Eco-Friendly

Making your home greener will not only benefit the environment, but it will also lower your costs. Old windows, for example, force your furnace to work overtime – especially in the coming winter season. Replacing windows, adding insolation, and energy efficient appliances are all great ways to improve the efficiency of your home. You can also look at making small changes that add up. Use power bars with timers or a master switch to turn off devices when not in use, upgrade exhaust fans that automatically turn on when increased humidity is detected, and replace all the lights with an energy efficient alternative.


Fix Safety Issues

Restoring your character home is a great way to improve its quality as well as increase your properties value. When you do decide to renovate your home, it is always a good idea to look at important issues that may need repairing. Checking for water or moisture in the walls may indicate that you need to improve the draining of the site, increase the ventilation, or fix a leak. When these issues are fixed, it will improve the air quality of your home. Other important issues include checking and removing toxic substances such as asbestos or leaded paint, and making sure your homes structure is fully intact. Doing this will give you piece of mind that your home will hold up for many years to come!

10 Reasons for Buying a House Young

If you’re in your twenty’s or thirty’s it’s important to look at why the 10 reasons to *buying a house young* are so critical.



There are a lot of people who don’t look at Real Estate as an investment vehicle and that’s one of the reasons they don’t buy a home. Buying a house or an investment property when you’re young makes a lot of sense. If you’re in your twenties there is a good chance you’re going to have roommates living with you whether you rent or you buy a home. If you rent, you pay your landlord, and his mortgage. If you buy, you can rent out rooms to friends and pay nothing, while paying off your own mortgage.


Homes move up and down in price. A house is still a great investment when you’re young. Over time it’s around 3.5% per year on average homes appreciate in British Columbia. If you’re going to buy a home you need to have a plan, run the numbers, and make sure you’re buying at a good time, and in the right neighbourhood. Contact me if you need help understanding what makes sense for you.

Return on Investment

If you’re in your twenties and you want to make an investment you can do it several ways. Let’s say you want to invest $10,000 in the stock market and it gives you a return of 10% that means you made $1,000. If you use $10,000 to buy a home you can afford one up to $200,000 (5% down). If you make 10% on your investment that’s $20,000.

There’s plenty of ways to look at purchasing real estate. You can’t deny that with a great strategy you can have a great return on your investment.

80% of millionaires use their real estate return to create their wealth!

Forced Savings

For those that have trouble saving or a spending problem, a home is a forced savings account. It gives you a way to save for retirement. If you buy a home for $200,000 and it appreciates 3.5% every year it will be worth $561,000.

That $200,000 is now worth over half a million. It’s a great way to build wealth. For anyone who has a saving problem their home is going to be their largest asset. What I mean by that is a person’s home is going to be the largest item of value they have. From the definition of an asset and liability it’s an asset in this case, though there are definitely liabilities involved in homeownership.

Build Your Equity

When you buy real estate at a young age you’re building your own equity. Whether you choose to rent out bedrooms to roommates or live alone, you’re building the equity you have in your home. This works well with a forced savings account because when you retire you’re going to live off the equity you have built up. 8 out of every 10 millionaires have used real estate as an investment vehicle to help build their equity.

Rental Income

Rental income is income. If you make $1,000/month in rental income, you’re earning $1,000/month.

It’s important to understand that if you treat your home like a business it’s absolutely an asset. It’s earning you income and from this perspective real estate is the best investment you can buy. Rental income is a great way to create passive income. Although I use the words ‘passive income’ it isn’t exactly true by the definition. It is however a great way to earn income without doing much. You will be required to answer the phone when tenants call, update the home when things break, among other requirements of a landlord.


Buying real estate at a young age also gives you the opportunity to customize and create what you’re looking for. If you’re renting you have to run things by your landlord before you can do anything and you will be at their discretion. When you own your own home you can make the upgrades you want, decorate the way you’d like, and make any additions to the home you’d like.

After buying a property you can customize it any which way you want! Want a backyard with a fence? Build it! How about a deck that gives you a chance to entertain outside? Build one! 


Buying and owning real estate when you’re young forces you to gain new responsibilities you may not otherwise have while renting. It’s an opportunity for you to force yourself to save through paying down your mortgage, gain income (should you choose to rent it out), and over the time in which you own the home it should appreciate.

Concept of Finance

Want to understand what other people know that you don’t? Buying real estate is a great way to learn. When you’re young you have a much better opportunity to take risks you may not otherwise have as you grow older. When you settle down with a family and kids your time is dedicated to new things in your life that weren’t there when you were young.

It shouldn’t come as a surprise that eight out ten millionaires own real estate. It’s an opportunity for them to diversify their investment portfolios, gain rental income and positive cash flow, as well as appreciation that beats their money sitting inside of a bank account.

Real estate is an opportunity for you to reduce your liabilities, gain passive income through rent, and to pay down your mortgage with other people’s money.

Anyone who didn’t buy real estate when they were young probably will tell you they wish they did!

 Free Time

One of the reasons young people don’t want to buy real estate is that they don’t have the timeWell, you’re not going to have more time when you’re older; in fact, you are likely to have a lot less as you gain new responsibilities. A family and children are a responsibility you don’t have when you’re young making it a great time to learn real estate.

Buying real estate is a time requirement and most of the time should be spent BEFORE you buy anything. Researching, educating yourself, understanding neighbourhoods and city plans are all factors that are going to have an impact on the home you purchase. These hours you put in before you start looking at homes for sale are the most important as are understanding why the 10 reasons to *buying a house young* are so critical. Study the numbers, the local real estate trends, and find a good Real Estate Agent to assist you!

What Can I Afford for a House?

The Financial Aspects Of Purchasing A Home:

What Can I Afford for a House?

Before you start looking for a new home, it’s important that you know how much you can afford to pay. This will allow you to spend your valuable time looking productively at homes within your predetermined price range. You can calculate a relatively accurate figure for yourself with the following information:

$ _____ The cash you have saved to be used for this home purchase is called the down-payment.

$ _____ Plus: The amount of borrowed money you are able to arrange.

$ _____ Less: Closing costs and other “last minute” costs associated with the real estate purchase.

$ _____ Equals: Maximum Price

The Down-payment

Lending institutions usually require you to make a down-payment of at least 5% to 10% of the purchase price of the home. Lending institution policies may vary; however, generally, you should make your cash down-payment as large as possible. Your deposit for the real estate transaction may form part of your down-payment.

The Borrowed Money

Almost everyone who purchases a home borrows some of the money needed to pay for it. The easiest way to determine how much money you can borrow as a mortgage loan is to consult with one or more lending institutions. These lenders will apply standard tests, based on your family’s current income and debts, to decide the amount of money they will lend you. They will ask for financial information and perform a thorough credit check to ensure you’re able to repay a loan.

What is a Mortgage?

Obtaining a loan to finance the purchase of your home will probably require you to sign a document called a mortgage. This document will set out the terms and conditions for the loan and its repayment. If you fail to meet your debt obligations, the lender may have the right to claim your home to pay off what you still owe.

What Types of Mortgage Loans Are There?

Conventional mortgage loan:

Allows borrowing up to 75% of the purchase price or the appraised value of the home, whichever is less.

High-ratio mortgage loan:

Allows borrowing more than 75% of the purchase price or the appraised value of the home, whichever is less. But the borrower must pay a mortgage default insurance premium to protect the lender if payments are not made. Check with your lender to find out the amount of the insurance premium.

What is an Amortization Period?

The size of a mortgage loan payment is calculated as if the loan payments will be paid over 20 or 25 years. This is called the amortization period. Each payment will repay the interest due up to the payment date along with some of the principal owed. The longer the amortization period you choose, the lower the regular payment will be. The faster you repay any money borrowed by choosing a shorter amortization period, the more you reduce the total cost of borrowing.

What is a Term?

Most mortgage loan contracts only permit the regular payments to continue for a specified term which is shorter than the amortization period. The term can be as short as six months or it can be five years or more.

At the end of the term, you are required to repay the full unpaid balance. If you can’t pay the balance, it may be necessary to refinance the loan. The longer the term you choose, the longer your monthly payment remains stable. CAUTION: The lender is not obligated to renew your mortgage loan at the end of the term.

How Much Can You Afford to Pay in Mortgage Payments?

Based on Your Income:

A general guideline is to allow no more than 30% of your gross monthly income (before deductions) to make your monthly housing payments. This test of your ability to repay a mortgage loan is generally referred to as the Gross Debt Service Ratio.

Complete the following calculation to determine the approximate amount you may be able to afford for the mortgage payment, the property taxes and, where applicable, 50% of the strata maintenance fees. Some lenders will require this total maximum monthly payment also covers heating costs.

•Gross monthly income $___

•Co-signor’s gross monthly income (if applicable) $_____

•Other income (monthly) $______

•Total monthly income $______

•Multiply the Total line above by 30% to calculate your: Total monthly maximum housing payment $______

Based on your Other Financial Obligations:

If you have other monthly financial obligations, such as car or credit card payments, the lending institution will also apply the Total Debt Service Ratio test to determine the maximum mortgage loan for which you can qualify.

$ ____ Monthly housing payment

$ ____ Calculated monthly debt payments (car, credit card, etc.)

$ ____ Total monthly payment

As a general guideline the total of your monthly housing payment added to your other monthly debt payments should not exceed 40% of your monthly gross income.

The Gross Debt Service Ratio and the Total Debt Service Ratio tests protect both you and the lender by ensuring that you do not take on more debt that you can reasonably afford to repay.

Many lending institutions will prequalify you for a specific size and type of mortgage loan before you begin searching for your new home. Taking the time to apply for a pre-approved mortgage will give you the security of knowing how much you can afford to spend.

Before concluding the loan agreement, most lending institutions will require an appraisal of your selected home. The appraised value is a professional opinion of the value of the home and may differ from the purchase price you are willing to pay. The appraised value may affect the approved value of the loan. Know What Can You Afford!

Before you start looking for a new home, it’s important that you ask yourself What Can I Afford for a House? This will allow you to spend your valuable time looking productively at homes within your predetermined price range.

Many lending institutions will prequalify you for a specific size and type of mortgage loan before you begin searching for your new home. Taking the time to for a pre-approval will give you the security of knowing how much you can afford to spend.



Click the link in the video description for all the formulas, terms and information you need to determine what you can afford…

Tips on Selling Your House

How To Make The Most Money When You Sell Your House

When I began real estate, I learned that the two most critical aspects of selling a home are:

  1. Price &
  2. Condition

This has been taught in real estate for a long time. In my experience, it’s not entirely true. MARKETING is just as vital, sometimes even more so.


Professional marketing is the secret to selling your home!

How a home is marketed online determines how much attention it gets. I’ve watched houses that were priced too high end up in multiple offers because of impactful marketing presentations online. I’ve also seen the opposite – homes that sell for less than they’re worth because of poor marketing. When people ask me to sell their house, they often haven’t thought about the way they would like to market it. They’re focused on their home’s value and getting it ready for the market.

If you could choose between an old rusty Honda and a nice new BMW which would you choose? The nice pretty one, right? Online marketing is the same.

With the right presentation, buyers believe a property is better than those not listed with a similar effort. People that use skilled marketers have a much better experience than the average home seller. They experience a buying frenzy on their listing; their neighbours house gets no offers and sits on the market too long. Buyers can sense the excitement and passion around the property. It’s special. This means higher offers because people are afraid of missing out.

Real estate has transitioned from a sales business to a marketing business. Salespeople used to be the go-to for information. Now consumers can get most of the information online before they meet a salesperson. However, consumers still need the advise and guidance of a professional on certain aspects of buying and selling real estate. They don’t need to be sold to, though. They can access neighbourhood forums, agent reviews, property listings, and market statistics online. Creatively marketing online has never been more important.

I love The Tonight Show with Jimmy Fallon. Let’s say you were about to be a guest on the show. Would you want help – preferably from an expert – deciding on your clothes, your make-up and your hair, or would you just show up and hope for the best? Luckily, The Tonight Showhas a whole crew who would do that for you. Their job is to make you look as good as possible.

A listing agent does the same thing, except they are doing it with your house. They make it look amazing. Some agents will simply post a listing online and see what happens. Don’t use them! Hire the agent who’s passionate about making your home look incredible online.

To help, here are some Tips on Selling Your House:

Professional Photography

Photos are vital in marketing; they’re the first thing people see. If your photos are bad, buyers won’t bother with other forms of marketing used to list your home. Here are some photography tips that you should be aware of to help you establish your listing agents grasp of the area.

HD Video Walkthroughs

Video is the most powerful tool for marketing real estate. The best assets of a property are shown and you can add text that shares key points about the property. You can get into buyers heads with video; in fact, it’s the fastest growing form of marketing outside of real estate.

Social Media Ads

Social media is an awesome way to get the word out about your home being listed online.

A video can be posted in a Facebook Ad that is targeted to potential homebuyers in specific areas. These ads get thousands of views and get shared all over. Very few agents pay to market their listings on Facebook and other social media. This means yours will stand out.

Everyone knows someone who needs to buy a home, and social media is a great way to get your listing in front of people within hours.

Professionally Designed Materials

Graphics can be used on property pages, videos, blogs, social media ads, print material, and so on. Creating outstanding graphics markets your home with style that other listings don’t have. Check out the listing agent’s design materials before you work with them. It’ll tell you if their sense of design is current, or completely outmoded. Their website is a good place to go, too. It’s vital to have a Realtor who knows how to make your marketing material look awesome.

One Caveat I Must Share

All the creative marketing in the world won’t help your property if it isn’t ready to be listed. A staging specialist who can tell you what needs to be done before taking photos is critical. Top Realtors provide this service for their clients because they understand how important it is. Before you market a property, make sure it’s going to show well.

How to Choose the Best Agent for Your Listing

Would you choose to use an agent because you’re related to them, or you know them socially? Would you choose a surgeon that way? That’s the worst way to choose an agent. However, many people find their listing agent this way. Instead, check out their marketing materials. View the last few listings they sold. Compare their work with other realtors. Hiring an agent who doesn’t use technology to list your house is like trying to use a typewriter to access Facebook. It just doesn’t work. You’re hiring the listing agent to market your home online.

If you get a chance, I’d love to hear which of these Tips on Selling Your House was most beneficial to you.

Cost of Selling a Home

For many people, real estate is about more than just finding a place to live. It is about making an investment. We all know that buying a home costs money. But what about the Cost of Selling a Home? There are some factors that you may not consider when you’re planning your move into a bigger and better place.


The seller usually pays both the buying and seller agents; they can be approximately 6% on the first $100,000 and 3% on the balance.  In this case this would amount to $12,000.


You’ll need to spruce up your home to make the sale. This can include staging, pre-inspections, landscaping, etc. Barring any major renovations, this will cost about $1,500

Miscellaneous Costs:

Legal Fees – Transfer title of the property, discharge any existing mortgage and make cost adjustments for property taxes, hydro etc. Expect to pay between $900-$1,500.

Moving Costs – If you rent a small truck for a day and have friends help for the cost of pizza and a drink that may run you around $350.00. However if you need to rent a medium size moving truck and two people that may cost you upwards of $2,000.

To find out more about the Cost of Selling a Home, please take a moment and watch the following video:


What to Ask Before Buying a House

Buying real estate is exciting and terrifying, all at the same time. There are many steps to the home buying process and each step creates a new set of questions. Knowing the answers to the What to Ask Before Buying a House can alleviate some of the stress that comes with buying real estate. This articles was designed to help you understand the basics of purchasing real estate, in simple steps. Buying a home may seem intimidating, but a good REALTOR® will make it much easier. They will take care of you through each step of the process, and make your experience as smooth as possible.



Question: What’s the first step of the home buying process?

Answer: The Mortgage Pre-Approval.

Unless you are paying cash for a house, you will need to get a mortgage. In order to know how much home you can afford, you will need to get pre-approved for a loan. This is the first-step in the home buying process.


Question: How Long Does it Take To Buy a Home?

Answer: Around 30 days

The timeline for finding a house varies greatly from person to person. Once you find a house and have an accepted offer, it usually takes around 30 days to close.


Question: What Does A REALTOR® Do?

Answer: Almost everything.

A REALTOR® is your most valuable asset when buying a home. They will walk you through every part of the home buying process. They will educate and inform you of all your options. They will represent you throughout the transaction and beyond. There is a difference between a REALTOR® and a real estate agent; many people do not know this. A REALTOR® is regulated by the National Association of REALTORS® and subscribes to a strict Code of Ethics. A real estate agent does not. It is recommended that you work with a licensed REALTOR® to avoid potential problems.


Question: How Much Do I Have To Pay a REALTOR® as a Homebuyer?

Answer: Nothing

In most cases, you do not have to pay your REALTOR® anything to help you purchase a home. The sellers pays their REALTOR® a fee, and then that listing agent pays the buyers agent for bringing the buyer and facilitating the transaction.


Question: What’s Your Best Advice for First-Time Homebuyers?

Answer: Trust the Professionals.

Beware of advice from people who do not work in the industry. Real estate is a popular topic and almost everyone feels like they have some great insight to offer. In reality, the people who know best are the people that work in the business. Good REALTORS® have sold hundreds (maybe thousands) of properties. We know what to expect and what to look out for. Friends and relatives have only bought and sold a few homes, if any at all. Buying and selling a couple of homes does not make someone a well-rounded source of information. I’ve seen too many first-time buyers become persuaded by well-meaning friends and family, only to be disappointed later. Be confident in your decisions and trust the professionals.


Question: What Kind of Credit Score Do I Need to Buy a Home?

Answer: 620+

A 620 credit score, or higher, is recommended. As you are probably aware, a higher credit score offers better lending terms. This is an ever evolving topic, however, as loan requirements are constantly changing. There are some lenders who will approve buyers with a 580 score, sometimes even lower. Your loan officer will be the best source to give you a current answer for today’s lending requirements.


Question: Are There Special Home Buying Programs That I Should Know About?

Answer: Yes

There are some great home buying programs to research. The main ones would be VA loans, USDA loans, and FHA loans. Knowing the difference between these loan types is very important. Other local options would include the The El Paso County “Turnkey” Mortgage Program and the CHFA SmartSteps Plus Purchase Mortgage Program. Both provide down payment assistance under certain conditions.


Question: How Much Money Do I Need for a Downpayment?

Answer: It depends on your loan type. Usually 3% to 5% down.

The most common answer is 3% to 5% of the purchase price. FHA loans just dropped their requirement from 3.5% to 3.0%. There are also some conventional loans that only require 3% down. Veterans are usually eligible for a VA loan, which requires no money down. Properties in rural areas are usually eligible for a USDA loan, which also requires no money down.


Question: What Other Fees Are There, Besides the Downpayment?

Answer: Mainly loan origination and closing costs.

The downpayment is usually the largest cost associated with buying a house. Lending fees are the second largest costs to homebuyers. Most lenders will charge between 2% to 4% of the loan amount for loan origination fees, depending on the loan type. Conventional loans usually have lower loan origination fees, but require more money down. Your loan officer will be able to help you determine how much you can expect to pay towards loan origination and closing costs.


Question: When do I get the keys?

Answer: At Closing

Under normal circumstances, you will get the keys at the closing. A closing typically takes about an hour. In some cases, the lender will need time to fund the loan and you will need to pick up the keys after the loan has been funded. If you have a Friday evening closing and the loan cannot fund until Monday, you may not get the keys until Monday. Make sure to coordinate your closing to get the keys on the same day, if that is what you need.


Do you have a real estate question that you would like answered? Feel free to contact me directly, or leave a comment below for others to answer as well. Remember, a good REALTOR® is your best source of information when buying a home. Once you have a REALTOR® that you trust, start asking as many questions as possible. We will gladly inform and educate you through each step of the home buying process.

Remember to have fun. Buying a home is an exciting achievement!There are many steps to the home buying process and each step creates a new set of questions. Knowing the answers to the most common home buying questions can alleviate some of the stress that comes with buying real estate.

Here are the basic Q & A’s on purchasing Real Estate in simplified terms:

Question: What’s the first step of the home buying process?

Answer: The Mortgage Pre-Approval.

Question: How Long Does it Take To Buy a Home?

Answer: Around 30 days

Question: What Does A REALTOR® Do?

Answer: Almost everything.

Question: How Much Do I Have To Pay a REALTOR® as a Homebuyer?

Answer: Nothing

Question: What’s Your Best Advice for First-Time Homebuyers?

Answer: Trust the Professionals

Question: Are There Special Home Buying Programs That I Should Know About?

Answer: Yes

Visit our article link in the Video description for the full list of What to Ask Before Buying a House with expanded answers…

Merry Christmas!

With Christmas fast approaching, I just wanted to take a moment to let you know how much I value you and the fact that you’re here reading this blog.

My intent in writing to you each month is to give – to provide value and hopefully help you make more informed buying and selling decisions in your journey through real estate transactions. More importantly, it’s to help you feel informed, confident and supported in your process.

This time of year means different things to each of us. I’d love to hear from you and how you choose to celebrate at this time of year. If you have a moment, please feel free to leave a comment in the comments section below.