Seven Ways to Save Money When Buying a House Today

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Seven Ways to Save Money When Buying a House Today

Seven ways to save money when buying a house today. So you are wanting to buy a new home and want to get the best deal possible. Besides getting a good deal on a house, there are many other things that can save you money. In this article, we are going to look at the different ways to save money when buying a house in Dallas, Texas.

Get Approved for a Mortgage Loan

Use an experienced local mortgage broker. A good mortgage broker will save you a lot of time, money and heartache. They’re experience in the home buying process and real estate contact expertise is very important for getting the best deal on a home and ensuring the process goes smoothly. While some first-time buyers may try to save some money by not using a real estate agent, this sometimes hurts more than it helps. Seven ways to save money when buying a house today.

In fact, yo as the buyer do not pay the commission to the realtor, the seller does. A buyers agent commission is figured into the contract, sellers expect any buyers to have their own agent. A real estate agent will be able to negotiate various things in the contract to protect you and save you money, you may never even heard of. Most people don’t know, that your agent is supposed to do this anyway, and sometimes does not. You can get referrals to good local agents from friends and family, or by using sites like Trulia and Zillow. Keep in mind, while using these websites, neither are good for comparables.

Second, get loan quotes from Multiple Lenders, Interest rates will vary from lender to lender so it is recommended that you get loan quotes from at least 3 to 4 different mortgage companies. Lenders charge various other fees for processing a mortgage, loan origination fee, loan application fee, etc. In the loan estimate, you will be able to clearly see the fees charged. Not only can you use these loan quotes to help you negotiate lower fees and rates. But they give you a chance to speak with different loan officers to see who you are the most comfortable with. Rate Search!

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Get Current Mortgage Rates

Third, have 20 percent saved for the down payment. Unless you are coming to the table with a 20 percent down payment you are going to be stuck paying for mortgage insurance. Private mortgage insurance (PMI) us insurance on the mortgage loan itself. If a borrower defaults on the loan, the lender is reimbursed for the funds lost. FHA loans will require mortgage insurance regardless of the amount of your down payment. One of the drawbacks of FHA loans is that mortgage insurance is usually required for the life of the loan. Many people will refinance out of an FHA loan product into a conventional one, once their LTV ratio is below 78 percent. Seven ways to save money when buying a house today.

Four, increase your credit score. The higher your credit score, the cheaper your loan will be. Lender fees and interest rates are tied directly to your credit rating. There are a few simple things you can do to improve your credit score quickly before applying for a mortgage loan. Pay down your credit card balances. The balance on your credit cards vs the credit limit is called utilization ratio. This ratio accounts for 30 percent of your overall FICO score, only your payment history (35 percent) has a higher impact on your credit rating.

It is recommended to keep your balances below 15 percent of your credit limits to maximize your credit score. Do not apply for new loans or credit new accounts your credit score will take an initial drop for a couple of months. When you know you are going to be applying for a mortgage in the near future, it is best to hold off on  buying that new car or credit card.

Number fiver, find a house that needs some work. You are probably looking for a home that is going to sweep you off your feet and does not need any work. The problem is, so is everybody else. Homes that have lots of upgrades and custom features will cost much more than a home that needs some love and happiness. Finding that diamond in the rough can be a great way to save a bunch of money. Adding custom fixtures and lighting is relatively easy to do. Painting walls and adding your own personal touch can be very rewarding while saving you cash.

Seven Ways to Save Money When Buying a House Today

Six, get the right type of mortgage loan. Depending on your situation, some loan programs are better than others. For instance,Veterans can qualify for a VA loan and not have to put any money down or pay mortgage insurance. If you are not buying a home inside a major metropolitan area, then you may qualify for a  USDA loan. The Department of Agriculture created USDA home loans to help low-to-median income buyers become home owners in rural parts of the country. Not only do these mortgage loans not require a down payment, but mortgage insurance on USDA loans is much lower than other types of loans at just 0.35 percent of the loan amount. This could save you hundreds, of not thousands of dollars annually.

Finally number seven. Purchase a home in the winter time of the year can also dictate the housing market. Spring and summer months often demand the highest prices, because this is when most consumers are in the market to purchase. Waiting to buy a home in the winter months can save you as much as $20,000 according to NerdWallet.

Article Topic: Seven Ways To Save Money When Buying a House Today

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Should You Be in the Real Estate Business Today?

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Should you be in the real estate business Today?

Should You Be in the Real Estate Business Today? Baby Boomer real estate leads – as this generation ages, generating leads in this all important segment becomes critical to real estate success. Baby boomers are still going to pick up magazines in grocery stores,  while everyone else is looking online first, researching second and then picking up the phone.

Myths like the above paragraph  above about baby boomers abound and it’s useless to try to dispell all of them, especially to younger generations. Suffice it to say, however, about 87 percent of young boomers, adults between the ages of 54 and 64, are regular internet users while nearly 70 percent of older boomers (65 to 72) use the internet, according to the Pew Research firm.

So, despite the aforementioned agents vision of a doddering oldster, browsing the books at the local grocery store, the fact is that a boomer is just as likely to find his or her agent or investor, and next home via the internet as many other generations do.

There are certain members of this demographic won’t bother telling you about themselves, but will expect you to know. Baby Boomer real estate leads aren’t what you might think. Should you be in the real estate business today?

They are not old! Baby boomers, born from 1946 to 1964, won’t tell you that they don’t consider themselves old or elderly, or even senior citizens. But they either laugh at you or choose another investor if treated as such. It happens a lot!

This generation is active

They are vibrant and much healthier than the previous generation, the one on the current stereotypes are based on. “They will not tolerate typecasting, stereotypes pandering or ageism”. They will invest in products or services that resonate, and they will reward those who crack the idiosyncratic marketing code.

Now, to the second secret your Boomer clients won’t share with you. They will reward you. As they are every good at referrals. Should you be in the real estate business today?

As of last year, the Census Bureau estimates that there are 65.2 million American -born baby boomers. Add in immigrant boomers and that number rises to 76.4 million. According to a study by ThirdAge and JWT Boom, where I got this crazy idea, (later with that).  A whopping 96 percent of these people (73 million) participate in word-of-mouth marketing.

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What this means for the real estate investor is that a boomer client who is happy with the service he or she receives is highly likely to pass on your information to friends, colleagues and family members. Will they tell you this? Probably not, but it’s something you should keep in  the back of your mind when working with this generation. Referrals from any segment can be gold, from a boomer, it can be money in your pocket. Should you be in the real estate business today?

Many boomers are also considering renting, of this generation’s members that say they’ll be moving, 41 percent say the will purchase a home. Only 10 percent will rent. So it’s up to you the investor or agent to convince the over 45 are undecided boomers. Sell them the benefits of owning vs renting. Are you aware of those benefits for this age group of boomers? In my personal experience, some boomers wold rather sell their home and move into a rental simply not to have to do yard work or maintenance to the house.

They Expect Excellent Customer Service

A big mistake that many marketers make, in my book at least, is assuming that all boomers are hippies. Boomers have very high expectations with their interactions with businesses. They expect a high degree of customization, personnalization and on-demand service. Now, whether this is true of all Boomers, or most of them isn’t explained yet. But the nugget of knowledge provided is invaluable when working with your older clients.

Right now the housing recovery has been fueled by baby boomers with good credit and lots of equity. It’s been mainly the blue chip buyers who’s brought the market back from the abyss.

So, how do you generate Baby Boomer real estate leads for investors? Go through your website and delete all mentions of retirees, seniors, and elderly. Replace those terms with Baby Boomers or 50+, or if you want “older adults”. Should you be in the real estate business today?

Remember, many Boomers are still active in the workforce. Even more important, you’r referring to the Peter Pan generation and growing old is something they don’t want to be reminded of. Forget everything you think you know, and a lot of what yo read online about this generation. Even if retired, most refuse to be considered out to pasture, so arts and crafts classes at the local senior center aren’t a hot button.

Boomers are a varied bunch of folks, who typically enjoy:

Travel – AARP conducted a study two years ago that found 99 percent of Baby Boomers were planning to take vacations that year.

Golf

working out

Walking, running, jogging, hiking

Playing online and video games

Gardening

Entertaining and Socializing

Home Improvement projects

Since not all of your blog and social media posts should be real estate related, sprinkle in some hyper-local posts about the above topics. Baby Boomers are today’s repeat buyers. Baby Boomer real estate leads can help your business grow – ignore them at your own risk, just don’t wait too long, as these Boomers will keep moving on.

Article Topic: Should You be in the Real Estate Business Today?

Who Wants to Sell Their Home for More This Year? Call (214) 723-1304

Are you the Executor of a Will? Now what?

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Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304

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Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304

Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304. Probate leads are potential seller clients who inherited properties they often want to sell quickly after going through the probate process (the legal process of transferring the assets of a deceased person to heirs). Since many heirs live out of state, or are otherwise not prepared to maintain the property, they often look to sell quickly.

While probate leads are great, in order to be truly successful, you need to access as many leads as possible. I personally go through all the Probate files daily to find the best leads that fit my business. Not a difficult task at all. For most new real estate investors, locating, pitching and closing probate leads sounds right up there with root canal, as a way to spend an afternoon. you may even think probate investors are like ambulance chasing lawyers, expect they actually chase the hearse.

The last thing you want to do is bother a grieving widow to make a buck. So probate investing is just not worth it. That is until you start reading about the jaw dropping deals many investors who specialize in probate leads are puling in. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.

Like most great real estate lead generation strategies, the hardest part is getting started. That’s why we put together this guide. In this article we’ll tell you everything you need to know to start locating, pitching and closing probate properties the right way. No hearse chasing required.

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Why Probate Leads & Probate Properties

When it comes to real estate investing, lead generation is always a road block for new investors. They may have the cash, they may have the knowledge, they may have a great contractor, but when it come to actually finding leads, most new investors are at a loss. How on earth do you manage to buy properties for less than they’ve really worth? That answer is very surprisingly simple. Probates sell below market value more often than any other lead source.

In order to buy probate properties or any property for below market value, one of 4 basic conditions must be met. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.

  1. The owner should want or need to sell the property quickly (motivated seller)
  2. The owner should live out of state and not have the time, energy, or money to maintain the property
  3. If they’re not in or close to the foreclosure process, the owner shouldn’t be underwater on their mortgage
  4. The owner shouldn’t need the home as their primary residence

While pre-foreclosures and short sales meet the first condition and absentee owners the second two, probate leads often meet all (3) conditions. For example, someone who unexpectedly inherits a home from a deceased relative is often unprepared for the financial burden of owning and maintaining a second home, often lives out of state and rarely needs the home as a primary residence. Even better, since the mortgages of deceased people are often paid off, they own the property free and clear. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.

As a local Dallas, Texas real estate investor, you may be able to help a family that lost a loved one move on with their life by  buying their property ‘as-is’. If the home needs work, dealing with costly and burdensome repairs just after losing a loved one is a pain that most wold prefer to avoid. For some, a quick, no hassle sale, even at a significant discount to market value, is worth the trade off. If done properly, this is a win-win for both seller and cash buyer investor. ‘They don’t want the house, they just want the money in the house’.

Starting to make sense yet? Let’s look at how to track down probate leads on your own.

5 Best Way to Find Probate Leads

Now that you have a better idea of the probate opportunities available to you, let’s go over the best ways to find probate leads. Depending on what state and county you live in, these strategies work in all 50 states.

  1. Locate and search your local probate listings… depending on what area you’re planning on investing in, probates may be listed in the local newspaper, on the internet, or you may have to go to the court to pull the records yourself. If you want to start investing in probates, you’re going to want to get leads early in the probate process.
  2. If you want to see if your county lists probates online right now, you can always check the Public Records Center Website which list counties who have online probate or other court records. If your county has the probate records online, then you will generally need to know the name of the deceased in order to search for the records. A good place to find out the name of the deceased is to check the local obituaries. An obituary can also sometimes give you clues to the status of the deceased property. From there, you need to figure out id they owned property. Since new probates happen every day in some counties, once you’ve figured out the process for your county, you’ll want to periodically check for updates and new probates.
  3. Call or visit your local court…if your county doesn’t list probates online, then your next step is to call or head down to your local probate court and speak with the clerk. Depending on your county, you may be able to get a list of all probates or you may have ti dig a little deeper. You also might to pay a small fee for photocopying.
  4. Build working relationships with Local Estate Planning or Probate Attorney’s…Another great way to get probate leads is to befriend local probate or estate planning attorney who handles a large volume of probates in your county. While public records are great, getting the inside scoop is even better. Real Estate professionals should seek to establish a good working relationship with local estate planning and probate attorneys. The attorneys who prepare wills, trust and handle probate and trust administration. This group of attorneys who has the capability of connecting clients and estates tot he real estate professionals.

Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304

While many probate attorneys will have established relationships with local real estate agents or investors , you never know. Maybe their favorite agent or investor just retired. maybe their agent or investor is on vacation for a month and they desperately need someone to buy or list a hot property. Worst case scenario, you get your name out there as a local real estate investor.

As with all real estate lead generation, there are services that allow you to save time and headaches of lead generation for a price. In the world of probate investing, there are a quite a few companies that offer probate leads without the legwork. here’s a quick rundown of two of the most popular probate lead services. Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304.

When someone passes away, there are tow main reasons their assets get distributed. If they have a will, the executor of the will distributes the assets to the heirs named in the will. If they die without w will (intestate), then the court decides how to settle the estate and distribute their assets. In some states, if the executor is female, they are called an executrix. Other states simply use the term personal representative.

Sine the executor is in charge of settling the decedent’s estate, that means they are also responsible for settling any debts the decedent may have. Even if the decedent passed away debt free, a will may dictate that cash or other assets need to be distributed evenly among heirs. Sometimes, that means selling the decedent’s property to settle debts or distribute cash or assets evenly among the heirs.

Often, executors names in a will had a personal or close relationship with the decedent. That means that they are likely going through a grieving process themselves, or under pressure effort, and money it takes to get top dollar for the decedent’s property.

While the process is different from state to state or as in some cases, county to county. The goal here is to get in touch with the executor. Direct mail is one of the best ways to pitch executors or beneficiaries of an estate.

Article Topic: Probate Leads: Finding Probate Leads Dallas, Call (214) 723-1304
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