Homebuying help: How to minimize risk

Image text: How to minimize risk during your homebuying journey

Every real estate transaction comes with a certain amount of risk. Whether you’re buying or selling, you leave
yourself open to potential issues at every stage. It can be especially difficult for homebuyers – luckily, there are
some simple ways to mitigate common risk factors and find your dream home.

Set realistic homebuying expectations

How you search for a home may determine whether you are successful or unsuccessful. For example, if you evaluate
houses that fall outside your price range, you may struggle to find a home that you can actually afford. On the
other hand, if you establish realistic homebuying expectations from the get-go, you may be able to streamline your
house search.

Get pre-approved for a mortgage

Getting pre-approved for a mortgage is essential to avoiding multiple potential homebuying pitfalls. Pre-approval
lets you enter the housing market with a clear budget and narrow your house search accordingly. It can also give you
an advantage over competing buyers, as it shows the seller you’re financially prepared to follow through on the
sale.

Work with a real estate agent

When you hire a real estate agent to help you buy a home, you have a powerful teammate in your corner. A real
estate agent understands the housing market and can share valuable expertise and guidance on every step of the
journey. An agent will also be your legal representation, helping you navigate all the paperwork and logistics
involved.

Infographic: Avoiding risk during your homebuying journey

For many, buying a home is the biggest financial decision of their lives. As such, it’s not a process to be taken
lightly. The more you can do to avoid common risks associated with homebuying, the more successful and happy you’ll
be in your new home.

3 Financial real estate terms you should know

The more real estate terms you understand, the more comfortable you will be in your home buying process. This is especially true for financial vocabulary related to real estate transactions.

To help familiarize you with some of these important concepts, here is a quick guide to financial real estate terms:

Fixed rate mortgage

A fixed rate mortgage is one of the many types of mortgage loan available to prospective buyers. A fixed rate mortgage is a loan that maintains the same interest rate throughout the entire term of the loan.

This means the interest rate won’t fluctuate with market conditions, and won’t increase or decrease over time. A fixed rate mortgage is beneficial for homeowners who want to know exactly how much their monthly mortgage payment will be.

Down payment

The down payment is the amount of money paid upfront to a mortgage lender to buy a home. The amount of the down payment can affect things like interest rates and the total amount of the mortgage loan.

For instance, a large down payment means you borrow less money, and therefore pay more upfront rather than more overtime in interest.

Fair market value

Fair market value refers to the variable value of a property based on market conditions. A real estate agent can help you find the fair market value of a home by conducting a comparative analysis of similar properties in the same area.

Some of the factors that can impact market value include curb appeal, square footage, energy efficiency and overall condition of the property.

These are just a few examples of real estate terms that can help you in a real estate transaction. By learning the language real estate agents use, the more confident you will feel on the search for your dream home.

Is Kentucky the right place to purchase land?

A beginner's guide to Kentucky farmland featured image

The state of Kentucky is known for many things; including its speedway, bluegrass music, college basketball and more.
Many are drawn to the state for its charm, and many more are drawn in due to its rich agricultural community. 

If you’re searching for a farm for sale in Kentucky, you’re in the right place, as the state has much to offer those
you’d like to invest in acres of land. 

How much does a farm cost in Kentucky?

One acre of land in Kentucky is around $7,200, which is slightly above the average cost of the same amount of land in
the U.S. One reason for this difference is for the excellent quality of the soil, which makes it the ideal
agricultural land. 

The average size of farms within the state is 171 acres, so it’s not uncommon to spend over $700,000 for a property.
The cost of farms for sale varies greatly – if it’s near popular counties such as Jefferson County or Warren County,
you can expect to pay more. 

Where is the best farmland in Kentucky?

One of the best regions to purchase farmland in Kentucky is the bluegrass region. The soil in this region is fertile,
making it perfect for healthy pastures for farm animals to graze on, and great for growing crops. 

Is Kentucky a good place to have a farm?

Kentucky farms are rated some of the best in the country, as they have ample acreage close to popular zip codes,
high-yielding land ripe for agriculture, ranches with some of the best state-of-the-art equipment and more. 

Observing KY listings, there’s an increase in the cost of acres and farms – meaning investors can benefit long term
should they decide to sell their property in the future. 

If you decide to add Kentucky farms to your list of potential investments, consider speaking with a local real estate
agent to explore your options.

How To Turn a Quick Sale on Your California Home

There’s no way around it–California has one of the most competitive real estate markets in the nation right now. But, there’s no reason you can’t use some of the charms of California living to help sell your home for top dollar and edge above the competition.

There are a number of tools and techniques you can employ to improve the marketability of your home. In California, you can use the local benefits to your advantage and highlight them in your home sale.

In today’s post, I’m going to show you how to do just that so that you can get a faster turn around on your home sale and start moving onto your next big adventure.

Read on for the list of 5 ways to quickly sell your California property.

1. Priced to sell

Market rates in California an be quick to change. You’ll want to make sure your on top of these fluctuations so that your home is always priced to sell. Value is at an all-time high in California, so you should be able to make a large profit off of your home while still beating out the competitors.

2. Be on-call

Jen, a potential buyer, just landed her first big tech job in California. Now she has to find a home–and fast. You can bet that Jen and her agent are going to go with a seller who is available and ready to play ball at a moment’s notice.

Making yourself available for showings, pictures, and having paperwork and answers ready are all important to giving potential buyers a heads-up that they’re working with someone who is taking their inquiry seriously and respecting their time

3. California living

You’re not just selling your home. You’re also selling the dream of living in the Golden State. Showcase the benefits that your neighborhood and region have in daily life. Since commuting is a frequent concern of California residents, showcase how your home is a commuter’s dream. If you have some nearby landmarks or scenic places to hike and bike, put these in your ads as well.

There’s a reason so many people want to move to California, why not show that your home stands with the top properties in the state when it comes to the dream of California living.

4. Throw in bonuses

If a potential buyer hints that they love the way a certain room is decorated or that there are just one or two minor issues they have with the home, don’t be afraid to offer some incentives and throw in bonuses with your home sale. This can be things like furniture, decor, and more.

5. Show that you can work around their schedule

California buyers tend to be a busy lot. They often don’t have months to wait before moving into their new home. Making arrangements to be out of the home by the time the buyer would like to move in is a good way to help ease the buyer’s anxiety about moving on time.