Tag Archives: jacksonville nc

How to sell your home fast!

In today’s market, homes are selling faster than ever. Have your sights set on your next dream home and need to get your current home ready to sell? Let’s take a look at a few ways to help you get your house to SOLD!

We can’t stress enough how important it is to get connected with an experienced real estate agent right away. Working with a quality real estate agent will not only give you the advantage of having their experience on your side but they can also help you get more from the sale of your current home, giving you a healthier budget for furnishing your beautiful new home!

Now, how do we get this place sold? One thing your real estate agent may share with you upfront is that the home needs to be priced appropriately. Okay, we can get a bit sentimental when it comes to putting a price on the house we made a home. After all, how can you put a price on the whole summer it took to get those flowers to grow in the back yard or the upgrades you paid an arm and a leg for to make the kitchen your morning oasis? While those items need to be accounted for to determine the home’s total value, the price that is set needs to be realistic for where your home is located and what it has to offer.

Vamp up your curb appeal:

This will be a potential buyer’s first impression of your home. The moment they pull into the driveway, buyers will make a snap decision before they even step out of the car. Bringing life to your home’s exterior is easier than you think.

  • Give a fresh coat of paint to old front and garage doors.
  • Clean the siding and clear out cobwebs and debris from the entryway.
  • Revamp landscaping by adding potted plants to the front porch and walkway.
  • Trim back overhanging tree limbs and lay down fresh mulch.
  • Lastly, don’t forget the welcome mat!

Create an inviting atmosphere:

Now that you have ensured potential buyers want to enter your home by dazzling them with newly enhanced curb appeal, it’s time to awaken their senses. When potential buyers are walking through your home, you want their first impression to be a great one! There is nothing that turns people away like a stinky sink or foul-smelling carpet. While getting the carpets cleaned may be an obvious check off the to-do list, adding simple scents to the atmosphere have been shown to help sell your home!

  • vanilla
  • orange
  • lavender
  • fresh baked cookies

Yes, fresh baked cookies! Popping a couple rounds of cookie dough in the oven when you have a showing will help buyers feel warm and invited into your space and make them want to stay.

Declutter, depersonalize and brighten up the place:

When families are walking through your home, they want to feel at home themselves. Clearing all the clutter and stowing all personal items will help open up the space and let their imagination run freely. Removing excess items will allow potential buyers to visualize the space with their own furniture. Painting the walls a neutral color and opening the blinds to brighten up the place will insure your home is looking its best.

The forgotten details:

Taking the time to check off a few last items on the list will ensure your home is walk-through ready.

  • Park vehicles down the street to allow for easy access
  • Take the pups for a walk or arrange for a place for pets to stay while your home is being shown by a real estate agent. An anxious pet can cause tension during a walk-through and deter potential buyers.
  • Leave a detailed list on the kitchen countertop describing the features of your home and neighborhood. Buyers want to know as much as possible, such as history of the home, upgraded features, school districts and amenities that set your neighborhood apart. Do you have great neighbors? Tell them about it! After all, who could know better than you?

 

Which Loan Type is Right for Me?

Searching for the right loan program

Cutting Through the Confusion

Getting lost in all the mortgage lingo? You are not alone. According to a study performed by the Mortgage Bankers Association of America, “many borrowers say they get too much information when they go through the home-lending process…” Working with an experienced mortgage lender will save you a world of frustration by cutting through all the confusion. Your Lender will present the relevant information to get you on your way to moving day!

Which Program is Right for Me?

When purchasing a new home, a little research can go a long way. Asking the right questions will help us identify the right program that meets your needs.

  • Are you a first-time homebuyer?
  • Are you active or retired military?
  • Where is your future home located?
  • Which government programs do you qualify for?\

Common Loan Programs

You may have heard of these common loan programs: Conventional, VA, FHA, USDA, ARM (Adjustable Rate Mortgage), Jumbo…but what do they mean?

Conventional

The conventional mortgage is the most commonly used loan program for borrowers with good credit and steady income and can be used for purchasing a primary residence, second home or rental property. Conventional loans do require a down payment that can be as low as 3% of the purchase price of the home. PMI, or private mortgage insurance, is required when the down payment on the home is less than 20%. After 20% equity has been built up, the loan becomes eligible to have PMI removed.

VA

As a thank you in advance for those who are currently active duty, retired military or eligible reservists, this loan program offers veterans 0% down payment! The VA loan is guaranteed by the Veterans Administration and is government insured. Rather than having a monthly mortgage insurance fee, this loan program has a VA funding fee that is calculated into the initial loan amount. For borrowers who are considered disabled, the VA funding fee is waived entirely.

From all of us here at Alpha Mortgage Corporation, thank you for your service!

FHA

Insured by the Federal Housing Administration, the FHA loan requires a down payment as low as 3.5% and comes with a maximum loan amount that is determined by the location of the property. The FHA loan is helpful to borrowers who may have a higher debt to income ratio and allows for less than perfect credit. The FHA loan program does require PMI, or private mortgage insurance.

USDA

The USDA loan is insured by the US Department of Agriculture and is offered if your potential property is located in a USDA acceptable rural area. One of the benefits of the USDA loan is that it offers 0% down payment. Check here for USDA eligibility and income limitations: https://eligibility.sc.egov.usda.gov/eligibility/welcomeAction.do;jsessionid=12MOUsHhXtG476sIGOnK5FRY#

JUMBO

The Jumbo loan is meant for loan amounts exceeding $453,100. In order to qualify for the Jumbo loan, borrowers must have a higher credit score.

 

To keep up with all things mortgage, housing, and real estate related, be sure to subscribe to our blog! Here at Alpha Mortgage, we’re proud to be North Carolina’s #1 mortgage company. Contact us today to make owning your dream home a reality.

 

Mortgage Market Update 12-16-14

Home builder sentiment across the nation edged lower in December, but still remains robust as 2014 comes to an end. The National Association of Home Builders Housing Market Index fell to 57 this month, which was just below the 58 expected and down from the 58 recorded in November. Any number above 50 indicates that more builders view conditions as good rather than poor. Within the report it showed that current sales conditions and expectations for future sales declined, while the traffic gauge of prospective buyers held steady.

In another sign that the U.S. economy has improved from the depths of the Great Recession, the Federal Reserve reported on Monday that factory production rose by 1.1% in November from October. Output at factories has risen 4.8% over the past year, which is above levels seen before December 2007. Despite a global slowdown, the U.S. has continued to recover, led by a boost in auto sales, food, wood, plastics and rubber products.

Today is the busiest day of the shipping season for the U.S. Post Office and FedEx with just 10 days until Christmas. The nation’s largest shipper, the Post Office, says it will process 640 million pieces of mail on Monday, up 33 million from last year. The Post Office further reported that between Thanksgiving and Christmas, it expects to deliver 12.7 billion cards, letters and packages. FedEx reports that it will ship 22.6 million packages on Monday while it will deliver 290 million packages during the same period, up 9% from 2013.

Mortgage Market Guide 12-01-14

The National Federation of Retailers (NRF) reported today that Black Friday weekend sales didn’t sizzle, which could be attributed to deals that began before Thanksgiving. The NRF said that sales from Thanksgiving through Sunday is estimated to hit $50.9 billion, down from the $57.4 billion in 2013, an 11% decline. The NRF went on to say that during the four-day period, 2014 online sales will be flat from last year. Another reason for the ease in sales could be that shoppers are holding out until later in the holiday shopping season to see if they can get better deals.

In a move that could potentially make it possible for hundreds of thousands of additional consumers to get mortgages, Fannie Mae and Freddie Mac have relaxed lending standards beginning today, December 1st. The new measures stem from an agreement in October where lenders had blamed the lack of clarity on when they would be penalized for making mistakes on mortgages they sell to Fannie and Freddie. The new standards should include faster turnaround times for mortgage applications to be processed. In addition, lenders be able to consider reduced credit scores and look past one time events when consumers suffered a hit on credit scores.

Fannie Mae released its Economic and Housing Outlook report for November late last week revealing that “economic growth in the U.S. is slowing from the strong mid-2014 numbers to a more moderate pace heading into next year.” Fannie Mae said that full economic growth is expected to be around a modest 2.5% in 2015. Fannie went on to say their view of housing starts, home sales, and home price trends will be largely unchanged next year and that “mortgage activity in 2015 will be very similar to 2014.”

Mortgage Market Guide

Americans filing for first time unemployment benefits fell to multi-year lows in the latest week as the sector continues to recover and move into greener pastures. The Labor Department reported that Weekly Initial Jobless Claims fell by 10,000 to 278,000 and is the second lowest level since the Great Recession ended. The four-week moving average of claims, which irons out seasonal abnormalities, fell to a 14-year low of 279,000, down 2,950 from the previous week. Since June, claims have averaged 293,000 per week compared to last year’s same time period of 343,000 and well below the 594,000 average per week in 2009.

Global outplacement firm Challenger, Gray & Christmas reported today that after falling to a 14-year low in September, planned layoffs by employers across the nation surged by nearly 70% from September. U.S. employers announced planned cuts of 51,183 in October, well above the 30,477 planned in September. October is the second highest amount of planned cuts since the May 2014 figure of 52,961 and marks only the fourth time in the last 22 months that planned cuts were above 50,000.

With the Thanksgiving Holiday quickly approaching, more Americans are expected to take to the skies to visit friends and relatives this season. Airlines for America reports that 24.6 million passengers will fly domestically between November 21 and December 2. That’s up about 1.5% from 2013, or 31,000 more passengers per day. U.S. carriers have reaped some big profits in that past year and are making sure that there is enough room to meet the growing demand. The top three destinations for Thanksgiving are Chicago, Orlando and Cancun.