According to the National Association of Realtors, FSBO (For Sale By Owner) accounted for only 7% of home sales in 2020. That means that about 93% of sellers, along with most buyers, relied on a real estate professional.
There’s no denying the financial benefits of homeownership, but what’s often overlooked are the feelings of gratitude, security, pride, and comfort we get from owning a home. This year, those emotions are stronger than ever. We’ve lived through a time that has truly changed our needs and who we are, and as a result, homeownership has a whole new meaning for many of us.
There’s a lot on the line when figuring out what a home is worth. Setting the asking price too high might limit the number of offers and leave the house on the market a long time. Asking too little could mean leaving money on the table.
Foreclosed homes can be appealing to house flippers, investors, and ordinary homebuyers looking for a bargain. Once a lender takes possession of a foreclosed home, they will seek to sell it quickly. They are less concerned about making a profit and simply want to break even on the amount they lost due to non-payment of the mortgage.
There are several things that determine how much house someone can afford. Salary, savings, and credit history paint part of the picture. Add to that the buyer’s wish list for a house, the neighborhood, and the real estate market, and the answer comes further into focus.
People can have bad credit for all kinds of reasons. Does that mean they can’t own a home of their own? A bad credit score will make the process more challenging, but getting a loan and becoming a homeowner can happen.
Buying a home with bad credit is possible with patience, determination, and an understanding of how the home buying process works.
For a lot of people, a brand-new home is appealing. But there are others who seek out older homes. In addition to charm and character rarely found in a new build, old houses often feature solid construction and expert craftsmanship. They are often found in established neighborhoods with bigger lots and more mature trees.
A stat cited in a 2018 Washington Post article estimated that 73% of homebuyers place a great deal of importance on schools when searching for a home. Education options often outweighed other items on a buyer’s wishlist, such as a garage, updated kitchen/bath, a certain number of bedrooms, or a large yard.
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