Did you put less than 20% down on your home? Then you likely have private mortgage insurance or PMI, and this post is for you!
In most cases, once your home reaches 20% in equity, you can get rid of PMI for good. That gives you more money to put towards your principal on your mortgage payment. So, if you’re like most homeowners, you’ll want to get rid of your PMI as quickly as possible. With rising real estate values, that time may come sooner than you think! If you think your home’s value has increased enough to bump the equity in your home to 20% or more, then you can get a new appraisal through your lender and show that you have the equity in your home to eliminate the need for PMI. You’ll want to be pretty sure that this will work out in your favor first though because you will have to pay for the appraisal fee. It’s also important to note that not all lenders will do this, so be sure to check before moving forward. If your lender does things the old fashioned way, you can request PMI cancellation when your mortgage’s principal is 80% of the property’s original value. Have any other questions about PMI or mortgages? Send me a DM, and let’s set up a time to chat! . . . #PMI #privatemortgageinsurance #coldwelldistinctiveproperties
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The biggest mistake you can make in real estate isn’t…
-Buying a house right next to nosy neighbors -Giving your home to your brother with the promise that he’ll pay you back -Ending up in a house across the street from your in-laws No, the biggest mistake you can make is not taking action. I’ve seen this a million times. A would-be buyer or selling starts taking the steps to enter the real estate market, but then they start double thinking everything. They wonder, “What if home values will actually be higher next year?” or “What if interest rates will go down in a couple of years?” over and over again. They get stuck in the loop of analysis paralysis and end up not taking any action at all. Then, instead of buying their dream house or selling their home for a profit, they stay stuck in the same old situation they were already in, unhappy in their home or worse–renting. Don’t let that happen to you! If now is the right time in your life to buy or sell, then do it. Don’t teeter-totter back and forth because you’ll just end up exhausting yourself! I can give you the facts and the info to decide if now is the right time for you to enter the market. Just send me a DM! . . . #iloverealestate #coldwelldistinctiveproperties #grandjunction Were you trying to buy a home last year but gave up because the market was too tough? Then pay very close attention to this post!
Buyers have amazing conditions right now. Seriously, they’re amazing, especially compared to the last couple of years we’ve had. Prices are lower and there isn’t nearly as much competition. That translates to few bidding wars (if any!), more opportunities to negotiate, and the chance to get offers with conditions accepted. This is a dream come true for many buyers. Why not you too? If you were trying to buy a home during the peak of the market when there were a million other buyers… It’s time to think about entering the market again. What you were waiting for is here, right now, ready for you. You just need to get back in the saddle and get out there so you can find the home of your dreams! I can help you get there. Just send me a DM, and I’ll guide you through every step of the homebuying process. After we work together, you’ll be at home in a house you love. . . . #grandjunction #westslopebestslope Which one is more your holiday style? A traditional green tree or a white tree?
Everyone has a different sense of holiday style–and it’s really a personal thing! Sometimes the most minimalist person goes all out with their holiday decor, while people you’d normally expect to be extra go for a more subdued, classic look. So I’m very curious–what’s your tree preference? Let me know in the comments what your style is, and let’s see which tree wins! . . . #happyholidays #christmas2022 Just dropping some inspo to make your day a bit better.
Personally, this quote really resonates with me. There are so many people who say that they want something, or that they really wish for something to happen, but how many people actually go out there and make it happen? Not that many. So don’t let yourself be the person who wants and wishes for your goals to get met. Go make it happen! How are you going to make it happen in your life? Let me know in the comments so we can be accountability buddies! . . . #westslopebestslope #inspiration Are you prepared for the cost of selling your home?
When you sell your home, there are certain costs that you’ll have to pay. Some are more expensive than others and will depend on your particular selling situation, but it’s good to be prepared for them before you start selling. It’s also important to keep in mind that some of these costs will happen before you sell, like repairs, while others will happen after you sell, like closing costs. Selling your home is a bit like a “no pain, no gain” situation. You’ll likely walk away from the sale of your home with a pretty penny in your pocket, but you do need to put some money in to make it happen. This is why it’s important to buy a home you plan on staying in for a while. The longer you’re there, the longer your home’s value has to increase, which means you can walk away with more money from the sale. Your agent will be able to explain each of these costs and show you which ones you should be prepared for. Have any questions about costs that can come with selling? Then send me a DM! . . . #iloverealestate #grandjunction Do you think a real estate agent can represent both the seller and the buyer on the same real estate purchase?
If you said “maybe”, then you’re correct! When an agent represents both the buyer and the seller, they’re called a dual agent. In some places, dual agents are actually illegal. But even if they are legal where you are, you should stay far away from a dual agent. Dual agents present a problem because your real estate agent is support to fight for your best interest. By the nature of the real estate agreement, the buyer and the seller do not share interests. As a result, a dual agent cannot fight for their clients’ best interests if they’re representing both the buyer and the seller. Buyers, this is why it’s so important to find an agent before going to see houses. You might think the agent showing the house could help you through the transaction, but now you can see why that’s not such a good idea! Have any questions about dual agents or how to find the agent that’s right for you? Just send me a DM! . . . #westslopebestslope #grandjunction It’s a good time to be a homeowner!
In 2022, homeowner equity increased a whopping 32.2%. For those new to equity, that’s a huge jump. Here's a quick refresher on equity. Equity is how much your house is worth, minus the amount you have left on your mortgage. For example, if your home was worth $300,0000 and you had $200,000 left to pay down on mortgage, you would have $100,000 in equity. Another way to look at it is like this: when you sell your home, the amount of equity you have is the profit you make. In our example, if you sold your home for $300,000, you’d have $100,000 left over after paying the mortgage off. From this, you can see why a 32.2% equity increase is a big deal for homeowners. It’s basically free money in their pockets! This equity increase is because home values have risen quite a bit, and that translates directly into the amount of money you can walk away with when you sell. Want to tap into that equity and upgrade your home to something nicer? Then consider selling to free up your equity and use that as the down payment on your next property! Want more info on equity and selling your home? Just send me a DM. . . . #iloverealestate #homeowner Want to repaint your home before selling? Try one of these colors to catch the eyes of potential buyers!
These colors are the best to show off your home’s unique features and give it a fresh look. Repainting your home is a great return on investment and is also a selling point for buyers. A modern color, like one of these beautiful selections, can bring even an older home into 2022. But better than just being trendy, these colors are classic and have true staying power–making them even more appealing to buyers! Want more recommendations like this? Make sure you’re following me and save this post! . . . #coldwelldistinctiveproperties #grandjunction I’m more than just a one-trick agent… No matter what your real estate needs are, I’m here to help you through the process!
Whether you’re looking to buy your dream home, sell your home for an amazing profit, or start investing in real estate, I’m your agent! If you have questions about… -how to buy your first home, -how to get the best profit for your current home, -or how to start investing in real estate Then send me a DM! I have the answers you need to start your real estate journey. . . . #iloverealestate #grandjunction |
AuthorKauai Alpha Fitt, REALTOR® SRES with Coldwell Banker Distinctive Properties in Grand Junction, Colorado. Archives
April 2023
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