Today, I just wanted to take a minute to wish you a merry Christmas and a happy New Year! I hope you are able to spend some quality time with your family and friends. 2017 was an amazing year, and 2018 will be really great. If you have any thoughts on buying or selling in 2018, contact me so we can plan out this year for you. To hear my full holiday message, watch this short video.
Mortgage rates are still at historic lows. For many homeowners, it's a great time to refinance. Refinancing allows you to pay off your current mortgage with a new mortgage at a lower rate. Refinancing means lower monthly payments and more money left in your pocket.
But here's something important that many people don't know: Refinancing can affect your credit score negatively. You see, when you refinance, the new creditor will do a "hard inquiry" about your credit history. This inquiry can actually lower your credit score. Looking for new credit lines (like a new mortgage) equates with greater credit risk.
A hard inquiry could decrease your score by five points automatically.
How much will a hard inquiry actually lower your credit score? This depends on several factors. In some cases, a hard inquiry might not lower your credit score at all. However, if you've recently opened up multiple new credit lines (auto loans, credit cards, etc.), then a hard inquiry could decrease your credit score by up to five points. This is true if you only have a short credit history. And if you shop around for the best rate for more than 45 days, you will get multiple hard inquiries. Each of them will contribute to the total effect on your credit score.
So what does this all mean for you? Unfortunately, there's no simple answer. It's going to be a part of the calculation you have to make for yourself, which will also include the refinancing fees, your own credit history, and how much you could be saving with a refinanced mortgage.
If you're looking for help in making this decision, give me a call. I can put you in touch with several top Grand Rapids mortgage brokers.
Today I am joined by Gene Szpeinski, the Realtor of the Year and my manager. Gene shares a few kind words about my career, as well as his take on our current real estate market.
Gene Szpeinski is the Realtor of the Year. He also happens to be one of my good friends, as well as my manager.
Gene has known me for a very long time. “I knew his father, too,” says Gene. “Larry is a third-generation Realtor, and they’re now working on getting the fourth generation into the business. That means they have really served West Michigan families for a long time, which is really awesome.”
“Larry spends an enormous amount of time making sure that things are right for you in your transaction. He’ll go the extra mile to make sure that it’s right because he wants to do business with you again, as well as with your friends and family. Referrals are the lifeblood of a Realtor’s business, and you can’t be a third-generation Realtor, last this long in the industry, or do as well as he has without really good referrals from people,” Gene adds. “He is always focused on what he can do right for you.”
Besides these kind words, Gene also took a moment to share what he thinks of our current market.
These last three years have been very interesting for our market.
“This is my 45th year in the business, and the last three years have been very interesting,” says Gene. “Parts of the market have no inventory whatsoever, so when something gets listed, it’s immediately descended upon and receives multiple offers. So it’s a very active time for a lot of folks.”
“Not every segment of the market is quite that speedy,” he adds, “but for the most part, we just have a shortage of properties [on the market].”
While this lack of inventory can make things difficult for homebuyers, I look at eight to 10 properties a week that have yet to be listed on the market. Once I meet with you, I can find out exactly what you’re looking for and find you the perfect house before it even hits the market. Thanks to Gene for stopping by. As always, if you have any real estate questions, please don’t hesitate to reach out to me. I would be happy to help you!
As you know, when you buy a house, it’s a great idea to get a home inspection. Today I’m here with Brent Modderman from Integrity Inspection Services to go over a few things you need to know about the home inspection process. What do you look for in a home inspection? We are going to look at the overall condition of the home, inside and out. We start with the roof and work our way down to the basement. We’ll look at the heating and cooling system, electrical, and plumbing to make sure that things are done correctly. We’ll also make sure the foundation is set.
We make sure the home is safe and in good condition for you.
Basically, we are looking to make sure that the overall condition of the home is up to par and that the property is safe. We also want to make sure that you know exactly what you are getting into with this property. How much does a home inspection cost? The home inspection runs about $350. If you want to know what the radon levels are in the property, the radon test will cost $125. Termite inspections cost $75. If you are buying an older home and want to test for lead paint, that will cost you $50. How long do home inspections take? Home inspections last about two hours on average. If you do the radon test, we do have to leave the test kit in the property for 48 hours. What’s the weirdest thing you’ve ever seen on an inspection? The weirdest thing was that I had various drug paraphernalia fall out of the ceiling on me. Of course, there are always some people who don’t quite pick up after themselves, even though they know their home is going to be inspected. If you have any questions for Brent, give him a call at (616) 581-8575, email him at IntegrityInspectionServices@gmail.com, or check out his website. As always, if you have any real estate questions, give me a call or send me an email. I would be happy to help you!
If you are looking to sell your home, your goal is to get the most money possible in the shortest amount of time. One of the best ways to add value and appeal to your home is through home staging. You have a lot of options for how you want to go about it. You could hire a professional staging company, but that comes with a hefty price tag.Most of the time, a few simple fixes is all it takes to transform a living room.
Today we are going to go through some of our most favorite, inexpensive home staging tips or you. We hope these will help you save both time and money when it comes time to sell your home.
A fresh coat of paint is always a good idea. Neutral, warm colors work best for highlighting the natural light in your home. This will make it easier to punch up the room with some colorful accessories and pull everything together.
A common design problem facing many homeowners is that they have no real entry way, as their front door opens up to the living room. To fix this, you can add a table, some lighting, and a rug to "fake a foyer" and make it feel like the living room and entryway are two different spaces.
A patterned rug, some pillows, or bright curtains add a ton of texture and an eclectic layer to the space, which is essential to a well-designed room.
In some cases, a "make-under" is just what you need. In the case of most fireplaces, taking some accessories and clutter away enhances the look and feel of the room greatly.
You could spend well over a few thousand dollars with a staging company, or you could do these fixes yourself for around $500. That's a small investment considering the value that you add to your home by adding those pieces.
If you have any questions for us about staging your home or anything else real estate related, give us a call or send over a quick email. We are always here to help, and would love to hear from you!
If you're a prospective buyer in the Grand Rapids area and are in search of your essential home, search all homes on the MLS,or if you're wanting to place your home on the market, don't hesitate to obtain a free home price estimation tool. If you have any questions, or desire any preliminary information about the Grand Rapids real estate market, feel free to contact me at (616) 532-7200.
Refer to Me for Accurate Pre-Foreclosure Listings
A lot of my clients here in Grand Rapids ask me about Zillow. I will be providing you with a brief overview of the website including its pro's and cons.
If you go to Zillow you will notice a pre-foreclosure tab, and this indicates homes that have not paid their mortgage for 30, 60 or 90 days. Often times these homes are not actually for sale because websites like Zillow, Trulia and Realtor.com get their information from credit reporting agencies. Often times this information is inaccurate and can mislead buyers which can cost them time and money.
The other tab in Zillow is a foreclosure tab. Zillow finds these listings from court reports that indicate which properties have been repossessed by banks. These listings can also be inaccurate and outdated.
I have access to the most updated foreclosure and pre-foreclosure listings and will not lead you astray in your home search. Instead of wasting your time with real estate websites, I urge you to come to me so that we can expedite your home search.
If you are interested in finding these kinds of properties in the Grand Rapids area, then please do not hesitate to contact me via phone or email. I look forward to working with you.
