Established neighborhoods provide many advantages. Mature trees, familiar locations, parks, proximity to convenient shopping, are a few of the advantages of
considering an existing home. Most homes for sale are existing, allowing for a variety of options when selecting your home.
Even though someone else’s taste in décor, paint colors, or wallpaper may not be your cup of tea, it is a great time to get an excellent deal on an existing home – you just need to be willing to pretty it up a bit. A little manual (or hired!) labor could be the key to achieving your ideal home in your preferred location and at a great price. 2017 was a great year for market improvements, and the trend continues.
With less inventory available to homebuyers, the trend is an increase in price for the first time in years. The number of days that a home was on the market decreased. In a market with less homes for sale, you need a seasoned agent who knows the real estate landscape well and can locate the best deals for you!
It is critical that you choose an experienced REALTOR® when buying a home. Handling negotiations on price, terms, inspection findings and appraisal issues without seasoned help can be a nightmare. Make sure you have a trusted REALTOR® in your corner!
What You Need To Know
As a first time buyer, there are many variables to take into consideration. From financing options to which homes are on the market, whether you’re looking at existing homes or new construction, we can find a solution that meets your needs and fits your budget. It’s natural to be overwhelmed when you come face-to-face with down payments, closing costs, and potentially unknown costs. Allen and his team help guide you through the process, educating you throughout so that you feel comfortable.
The Allen Williams Team is interested in starting a long-term relationship with you and earning your trust. They won’t let anyone sneak into your wallet. When you receive the keys to your new home, they want it to be with confidence, peace of mind, and total satisfaction.
It is Allen’s job as a buyer’s agent is to get you the best possible deal on a home. Period. With that in mind, this may be an investment that you sell in years to come so his goal is to strategically position you so when that time comes, you will be structured for success. With an agent like Allen or a member of his team, you have someone on your side looking out for your best interest. The Allen Williams Team knows Fishers, Indiana real estate intimately and their knowledge of the Hamilton County market is hard to match. Whether you’re looking for a new or existing home, you are guaranteed to be in great hands.
On the flip, buying a home without a REALTOR® can be extremely hazardous to your wallet. An individual buyer can easily make costly mistakes simply because they don’t know the market well enough. Allen has sold over $200 million dollars in real estate. This is his business, and he knows it well. You can rest easy knowing that you’ve got a pro on your team. Remember, using a REALTOR® to buy a home won’t cost you a penny more, the seller pays the commission, not you.
Since Allen’s team represents such a large amount of buyers, they are provided with a lot of valuable, insider information from builders. So, he often knows about specials before they hit the streets. Looking for a new home with a free basement? Want a completed builder home at a substantial discount? With the relationships that Allen has cultivated over the years, he is well informed of the best deals available for his customers. Interested in a specific neighborhood but can’t seem to find any homes for sale? Put he and his team to work for you. Allen and his team are prepared to help! With the Allen Williams Team’s unparalleled market knowledge, an experienced Broker to guide you, and professional support, why do it alone?
Let Allen Williams Help With Your Next Home Buying Experience
If you’ve never been a homeowner, the buying process can seem pretty intimidating. After all, purchasing a home is one of the biggest investments you’ll make in your lifetime – you don’t want to feel uneasy about it. Allen will walk you step-by-step through the buying process and will be your partner from the moment you express interest in buying, until the day you close.
There Are Nine Critical Steps In The Buying Process
Step 1: Before you start calling numbers from For Sale signs or looking at builders’ models, CALL ALLEN.
Step 2: With Allen’s help, determine what your mortgage options are and what you can afford monthly. Allen knows some of the top lenders in the area and can help you get the mortgage process started.
Step 3: Select an area of interest and make a list of what you want in a home.
Step 4: The fun starts – look at homes!
Step 5: After exploring all of your options, select a home. Remember, we will show you homes until you find the perfect one — no hurry, no pressure, no worries.
Step 6: Use Allen’s expertise to make an offer on your home of choice. His negotiating skills and 24 years of experience will put you in a great position to buy a home at a great value. Allen will help with everything, from locking in a great price to negotiating other terms such as a closing date and closing costs.
Step 7: Hire an inspection company to ensure that your perfect home is in good condition. An inspector will look for major defects, such as structural and mechanical issues, radon/mold problems, and other potential issues.
Step 8: Review all documentation (i.e. title work) with Allen prior to closing.
Step 9: The big day!! Your closing day will consist of signing a foot-tall stack of papers to transfer ownership of the home. This is a very important part of the process — it’s important to look for little things that may slip through the cracks and cause nightmares later. Don’t be scared! Allen will be there to protect you and review all of the documentation. After shaking off writer’s cramp from all of the paperwork, you will have keys in hand and be ready to move in!
The Allen Williams Realty Group believes that knowing your estimated mortgage payment BEFORE you begin your home search is a smart first step. A mortgage calculator will help you sidestep any “fuzzy math.” It’s always fun to dream, but it’s even more fun when the dream fits into your budget. They believe that buying smart today will net thousands tomorrow!
You may be surprised to know that your mortgage payment doesn’t just pay your mortgage - other components are wrapped in as well.
- PITI – the term for Principal, Interest, Taxes and Insurance – is what makes up your total monthly mortgage payment.
- Principal and interest payment (P&I) – This portion of your payment goes toward amortizing (paying off) the loan amount (principal), along with the interest over the term of the loan.
- Property taxes (T) – Real estate taxes are escrowed by most lenders, as unpaid and past due taxes must be paid before any mortgage amount. The taxes go toward county expenses.
- Homeowner’s insurance premium (I) – Homeowner’s insurance covers the home in the event that a loss occurs. Although you can select the insurance provider, you must pay the policy before closing on the home. The lender holds the insurance portion of your monthly mortgage payment for an entire year, then pays the bill for you. Keep in mind that you’ll be paying this year for next year’s policy.
- Private Mortgage Insurance (MIP or PMI) – This insurance covers the lender in the event that you default on your loan and the property is foreclosed on. MIP/PMI applies to properties with a loan-to-value ratio (LTV) of over 80%. So, if you make a down payment of 20% or more, PMI is not required.
Although the U.S. real estate market has flushed out many defaulted loans through foreclosures and short sale processes, there are still plenty opportunities available for the home buyer! If you have the time and flexibility, you may be in the perfect position to buy a home at a steep discount. The bottom line is that banks aren’t interested in sitting on inventories. Allen’s team keeps an eye on short sale and bank-owned homes to make the transition from offer to closing. Historically a lengthy process, the Allen Williams Team has tracked the stats and it’s trending as a shorter time frame.
Hamilton County has not been immune to the current economic downturn. There are foreclosures and short sale homes available in Fishers, Indiana homes – from under $100,000 to well over $500,000. Take advantage of this opportunity and buy low. The Allen Williams Team knows which homes are available and can tell you which properties could be a short sale.