Category: Uncategorized

What Are the True Costs of Selling a Home? Let’s Take a Look

Are you thinking about selling your house? Before you decide to list your home up for sale, it is helpful to get a clear picture of how much it’s going to cost. Whether you are sprucing things up with a fresh coat of paint, replacing the roof membrane or just covering your taxes, there will be a few bills to pay. Let’s take a quick look at some of the true costs that you’ll incur when selling your home.

Is Your Home Ready To Sell?

The first question you will need to answer is whether or not your home is ready to sell. Unless your house is relatively new, it will likely need repairs and maintenance. Depending on the age and condition of your home, you may also decide to invest in a full home inspection. Having a professional inspector look things over is a good investment – especially if they find problem areas that require immediate attention.

Invest In A Good Real Estate Agent (And Their Commission)

To get the best price for your home, you will need to be represented by a great real estate agent. Of course, they are not going to work for free. Once the home sells, the agent is compensated with a percentage of the sale price, which is known as a commission. In some cases, the home seller also pays the commission for the buyer’s real estate agent as well.

Factor In Costs During The Sales Process

The selling process will also have its costs. From lawyers’ fees to excise taxes, there is no shortage of small costs that can start to add up. You may decide to invest a bit in your open houses in order to make them more welcoming. Or you might need to close out your mortgage. Whatever the case, be sure to leave some space in your budget for these costs.

Moving Out Will Cost You Too

Finally, don’t forget to factor in the cost of moving to your new home. Many families fail to budget for moving expenses, which can be significant if you are moving out of a large home with a lot of furniture. 

As you can see, selling a home is a major financial transaction and one that should be led by an experienced professional. When you are ready to begin the process of selling your home, give us a call. Our team of real estate professionals can advise you of local market conditions and ensure that you receive top dollar when you sell.

Did You Know: Why New Construction Homes Are A Top Choice For Today’s Home Buyer

Are you in the market for a new house? If so, you may have been comparing your options when it comes to open listings on the local market. One decision you will need to consider: do you want to purchase an existing home or build a new one? Let’s explore a few reasons why new construction homes are a popular choice for today’s home buyer.

A Home Designed (By You) With The Future In Mind

Ask anyone who has recently invested in a brand-new home, and many will share that all of the built-in technology was an essential factor. Today’s homes are designed with the future in mind. High-speed networking, better wireless connectivity, high-tech security and other features are all benefits that typically can’t be found in older homes.

Of course, don’t forget that you play a role in the design choices in a new construction home. It is your chance to design all of the features you would want in a dream house.

Energy And Cost Efficient

As you might imagine, homes constructed with modern designs and materials are vastly more energy than older homes. Tighter seals, better insulation and more efficient heating and cooling all translate to lower utility costs. Moreover, while the savings per day might seem small, over time, they add up. Leaving more money in your pocket for investment, saving or other purposes.

If you want to take it a step further, you may even decide to expand your new construction home with solar panels or other high-efficiency upgrades.

Less Maintenance Means More Free Time

Finally, you can sleep soundly knowing that a new construction home needs far less maintenance work than an older home. Of course, there will still be the occasional job that needs taking care of. So you will want to be diligent in fixing up any damage or issues that do occur so that the problem does not spread. But overall, you can expect to spend less of your free time repairing things and more of it relaxing and enjoying life.

These are just a few of the many great reasons to invest in a brand-new home. To learn more about new construction real estate opportunities in the local area, contact us today. Our professional team is happy to discuss your needs and help you find the perfect new home.

Buying a New Home in a Hot Real Estate Market? Here Are 4 Tips You Will Need to Be Successful

Are you in the market for a new house? In a buyer’s market, finding and closing on a beautiful home can seem very easy. However, if you are shopping when the market is hot, you may end up fighting bidding wars and losing your dream home to a competing buyer. Let’s take a look at four tips that you will need to be successful when house hunting in a hot local real estate market.

Tip #1: Do Your Research Ahead Of Time

It should go without saying that in a hot market you will need to move quickly. Making an effort to do all your research ahead of time will ensure that you do not have to later, once you’ve found the perfect dream home. Check in with your real estate agent to find out what paperwork and other material will be needed.

Tip #2: Get A Mortgage Pre-approval

Once you have found your dream home, you may discover that other buyers are interested or have submitted bids. In this case, it is crucial that you can demonstrate that you have your mortgage financing pre-approved. Remember that the seller wants to close their sale quickly and for the best price. Showing up with pre-approved mortgage financing proves that you are serious about buying their home.

Tip #3: Be Ready To Pounce (But Don’t Be Hasty!)

Speaking of being serious, it is essential that you are ready to pounce on the right listing. A hot market means that you won’t be the only potential buyer checking out a home. The last thing you want to do is find the right house, then end up losing the chance to buy it because of unnecessary delays.

Tip #4: Small Sacrifices Are Okay

The final tip to keep in mind is that sometimes you will have to make a small sacrifice to close the deal. For example, the seller may want some special terms added to the agreement. Alternatively, they might ask you to pick up some of the closing costs. Whatever the case, keep in mind that a hot market means that you lose a bit of leverage. If it’s a small sacrifice, it might be worth it.

Buying a house in a hot real estate market can be challenging, but a little preparation will go a long way in ensuring you are the winning bidder. When you are ready to buy your next home, get in touch with our professional team of mortgage advisors. We are happy to help you find the right mortgage for your goals and financial situation.

3 Dog Breeds That Are Perfect for the Allergy-Prone Pet Lover

Do you find yourself itchy and sneezing after an encounter with a friendly, furry dog? You are not alone. The CDC estimates that around ten percent of Americans suffer from allergies related to dogs or cats. But, of course, that is no reason not to enjoy the love of a dog. So, if you are ready to push your suffering aside and adopt a furry pal, below are a few breeds that are perfect for those prone to allergies.

What Causes Dog-Related Allergies?

Do you know what the primary causes of pet-related allergies are? Many people believe that reactions are triggered by hair that has been shed, but this isn’t entirely accurate. Shed hair carries flakes of dead skin known as dander, and it is this dander which causes most typical dog-related allergic reactions.

In an allergy-prone individual, this dander is treated as a harmful invading virus or bacteria. The body issues an immune response with symptoms like sneezing, watery eyes, hives and coughing which can be treated with antihistamines.

Note that it is not just a dog’s dander that can cause a reaction. Dog saliva and urine are also known to carry the proteins that can trigger allergic reactions.

3 Breeds Perfect For Allergy Sufferers

The Poodle– if you are the energetic type that likes to get out and walk, a Poodle might be the right fit. Poodles are recognized as a cleaner dog as they do not shed much fur. They love to get outside and can be trained easily.

The Schnauzer– if you are more of an introvert or have a quiet side, you might find a Schnauzer to be a better companion. These are smaller dogs that aren’t going to beg you to run around for a few miles each day.

The Bichon Frise– this breed is an excellent choice for first-time dog owners and those who prefer smaller dogs. Bichon Frise are happy, friendly dogs that are very sociable. They are not incredibly high maintenance, but they do need daily grooming.

Renting A Home That Doesn’t Allow Pets?

If you are thinking about how great it would be to have a dog but can’t get one due to your current rental situation, contact us today.

Here is a picture of one of our agent’s dogs, Angie’s dog is a black lab named Simon!

Buying a New Home? Four Key Questions to Ask Your Mortgage Advisor

Are you in the market for a new home? If you are planning on borrowing some or most of the home’s purchase price, you’ll want to prepare yourself for the mortgage process. Let’s take a look at four key questions that you will want to ask your mortgage professional when you first meet to discuss your home loan.

What’s The Best Mortgage Option For Me?

As you probably know, there is a wide variety of mortgage loan options and programs on the market today. You may qualify for a number of mortgage loans along with certain government programs or specialty mortgages. Your mortgage advisor will be able to share the pros and cons of each type of mortgage loan so you can decide which option best suits you.

What Interest Rate And Amortization Period Fit My Budget?

Next, you’ll want to determine what loan term and interest rate combine to produce a monthly payment that fits your budget. For example, in some cases, you may prefer a lower interest rate over a longer amortization period like 15 or 20 years, which can reduce the amount you pay each month. Conversely, you may decide that you want to pay the loan down faster and take a shorter term with a slightly higher interest rate.

What Fees And Closing Costs Will I Incur?

When you borrow a mortgage to buy a home, you will inevitably incur some additional costs and fees. Some are connected to the home itself, such as home inspection or home appraisal fees. Others are due to the mortgage and might include loan origination fees or discount points that you choose to buy to lower your interest rate. Your mortgage advisor will be able to give you an honest assessment of what fees you’ll need to pay and which you can potentially avoid.

What Documents And Paperwork Do I Need To Prepare?

Finally, you’ll want to get an idea of what documents and other paperwork that you’ll need to prepare. Your mortgage lender will require a number of items to verify your income, credit history and for risk assessment purposes. This might include past income tax forms, pay stubs, bank statements or other materials if you’re self-employed.

These are just a few of the talking points you’ll want to cover when you first meet your mortgage advisor. For more information about the mortgage process and to get things started, contact us today. Our mortgage team is happy to share our insight and answer any questions you might have.

10 BENEFITS OF WORKING WITH A REAL ESTATE AGENT WHEN BUYING A HOME

This week we pulled an article from Key Inspection Services! Click the link to learn more about the benefits of working with a real estate agent 🤩

https://www.keyinspectionservices.com/resources/10-benefits-of-working-with-a-realtor-when-buying-a-home/

1. They’ll get you a better price:
   • When you use a real estate agent in the purchase process, they will help you get the most for your budget. They are there to know when a home is priced well, or too high, or maybe even too low for the neighborhood it’s in. 
2. They’ll save you time
   • Searching for homes can be an endless time-consuming game. Once an agent understands the specifics of what you’re seeking in a home, they can work to weed out anything that doesn’t match your criteria.
3. They have access to MLS
   • The MLS  is a powerful tool in the real estate industry that is designed to alert agents to things like open houses, new listing notifications and other useful tools to put you in the right place at the right time.
4. They have an inner professional network
   • Real estate agents are consistently interacting with each other about properties and discovering hidden gems along the way. This is not an inner network of people that you are likely to travel in the same circles with, so having access to that network will prove to be incredibly valuable in your home buying pursuits.
5. Their ethics and expertise
   •  Realtors are professional fiduciaries, guided by principals, responsibilities, and rules of conduct that prioritize the client while preserving the dignity of, and respect for, real estate as a profession.  Expertise is demonstrated in a variety of ways, including locating homes that meet often very specific wants and needs, pricing and valuation, knowledge of building code, writing binding contracts, unemotional negotiation, and the coordination required for a smooth closing.
6. They know the lay of the land
   • One of the best features of working with real estate agents is that they fully understand the city they work in. For you, this translates into market knowledge, neighborhood background and real estate insights you may not otherwise be privy to.
7. They know the market
   •  Each state, city and small municipality has their own real estate markets beyond what is happening on a national level. Real estate agents are constantly monitoring these changes for their buyers which keeps you informed of all of these volatile details so you can purchase your new home at the best possible time.
8. They understand complex transactions
   • Real estate agents understand all of the complex processes that take place in a real estate transaction. For instance, the home inspection and being able to interpret unfamiliar details effectively to you. An agent will also understand communications from your loan officers and underwriters which will help you feel organized and highly aware of what is happening in your property transaction.
9. They are motivated to find you a home
   • Real estate agents are highly motivated individuals as their success is predicated on their ability to find you a home. In short, if they do not help you buy the home of your dreams, they do not eat.
10. You have nothing to lose!
    • When you hire a real estate agent to help you find your next (or first) home, you aren’t making a financial investment to do so. The seller will be paying all the fees upfront while you get a qualified professional representing you before you ever place one dollar on the offer table. 

Do I need to sell my current home before buying a new one?

One of the most common questions we get when searching for homes is “do I need to sell my current home before buying a new one?” Theirs is no rule against purchasing a new home before selling your current one, but if you’ll be taking out a new mortgage, your first step should be making sure you qualify. If you have enough cash on hand to purchase a new home before selling your old one, then that’s great! However, for most the cost of owning two homes at once or moving twice can be expensive and hard to maintain.

Why should I sell my house first?

Selling your house before buying a new one is the practical scenario for most individuals, but it isn’t always the most convenient. Here are a few reasons that selling your home first may be best for you:

1. Avoiding a rushed home purchase

Selling your home first gives you more time. You don’t have to worry about taking the first offer that rolls in and can sell your home without pressure.

2. Making a strong offer

With the market currently leaning towards a sellers’ market, making a contingent offer is far less competitive.

3. Knowing your profit

When you sell your home first, you can have a set-in stone value that you will profit. This will give you a better understanding of your affordability and shop within your budget.

4. Avoiding two mortgages

Perhaps the biggest plus to selling firs; only one mortgage payment!

Why should I not sell my home first?

Although selling your current home before purchasing a new one may be the easier situation financially, there are some drawbacks! Keeping your home clean while living there can be difficult and overwhelming (especially if you have children or pets). Here are a few reasons that you may not want to sell first:

Rushing my home purchase

Whether you plan to buy before your home closes or during your stay in a rental, it can lead you to feel pressured/rushed on your next purchase.

Avoiding the cost of temporary housing

Rental costs can get expensive!

Avoiding moving twice

Having to move twice is a huge inconvenience to most. You can also rack up the costs of renting a storage unit and paying movers twice.

Can I buy and sell on the same day?

Many wonder if it is possible to buy their new home and sell their current one on the same day. Yes, you can, but it doesn’t always work out that way. The buying and selling process can quickly become complicated and has a lot of moving pieces. Just one hiccup can set your closing day back days or even weeks. With that being said, there have been many instances that my clients have closed both homes on the same day!

The bottom line So do you need to sell before buying? The short answer is “it depends”. It is possible to buy a new house before selling your old one, but it can be tricky if you don’t have the cash to make a non-contingent offer on your own.

Why Lange?

Lange Real Estate is not your standard brokerage and our agents are not in business solely for their next commission. Lange Real Estate is truly a full service brokerage that provides the opportunity to assist our clients in all facets of real estate and our agents the benefit of having the ability to be a part of diverse and unique transactions. Our agents are equipped with a diverse toolbox to solve your real estate needs whether there are financing questions, you’re needing to sell before you buy, auction resources, and all commercial and residential needs.

Collectively our brokerage works together as a team and collaboration is a top asset of our team. You’re not just working with one of us, but have the expertise, experience and knowledge of our entire team! Additionally, we partner with our clients. No one transaction is the same and our clients all come to the table with unique opportunities and different needs or desired outcomes. With this, we will ensure that our goals are aligned with yours from the start of our first interaction!

Special thank you to Jeff and Rachel Lange for this detailed description of why Lange should be your first choice when it comes to real estate services! We appreciate both of them and all they do for Lange Real Estate.

Our Interns

Emily Smith is a Marketing Intern at Lange Real Estate.  She graduated from Friends University in May with a degree in Business Administration and Marketing. Along with her internship at Lange, she also owns a small event coordination business called Events by Emily Elizabeth.  She has a strong passion for entrepreneurship, one of the many reasons she chose to work at Lange!  “I have enjoyed this past month working at Lange!  I love the atmosphere, being able to apply my college knowledge to my tasks, and having the ability to “own” my position.  Lange has been such a wonderful company, and I cannot wait to see what these next few weeks have in store!”

Brennan Young is the Real Estate Intern here at Lange Real Estate. Born in Wichita, he is currently a senior at John Brown University in Siloam Springs, Arkansas studying Marketing and Management. In his free time, he enjoys ultimate frisbee, movies, and board games. When asked what drew him to Lange he said, “I just really like how involved in the community they are, they’re extremely passionate about giving back and that’s something I really admired about them and wanted to be a part of.” Continue to check out our blog to see what Brennan will be up to in the future here at Lange Real Estate!