Tag Archives: Home Buying

Home Ownership – The American Dream

Monday, 06 June 2022 07:29
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History of National Home Ownership Month

June is National Home Ownership Month.  Do you know the history of the American Dream of home ownership?

In the 1800s, most Americans had no way of really owning a home.  Mortgages became common only after the U.S. banking system came into being after the 1860s National Bank Acts.

During the time of the Great Depression, the banks did not have any money to lend and the average borrower didn’t have any cash.  As a result, people couldn’t afford to buy homes, while existing homeowners often failed to pay their debt.  To stabilize the housing market, the U.S. government created the Home Owners’ Loan Corporation in 1933, the Federal Housing Administration in 1934, and the Federal National Mortgage Association (now known as Fannie Mae) in 1938.  All these institutions took homeownership to new heights and helped prevent a crash in the housing market.

What changed the face of the housing industry, along with that of the American economy, was the G.I. Bill of 1944.  This bill provided subsidized mortgages for the veterans of World War II.  Another milestone in the history of American housing came when Congress passed the Fair Housing Act of 1968.  The Act was signed by President Lyndon B. Johnson and banned discrimination in housing based on religion, race, gender, and national origin.  It came into being only a few days after the assassination of Martin Luther King, Jr.

In its 87 years of existence, the Federal Housing Administration (FHA) has saved America an almost $4 trillion loss of household wealth.  It has helped more than 44 million citizens to become homeowners.

National Homeownership Week began in 1995, which was a strategy of the administration under President Bill Clinton to increase homeownership across America.  Later, in 2002, President George W. Bush expanded the period of observance from a week to the entire month of June.  National Homeownership Month reinforces the belief that owning a home is one of the steps toward achieving the American dream.

My passion is helping people home ownership and finding their dream home.

Information derived from NationalToday.com

In appreciation,

Marie Dinsmore

Experience, Passion, and Commitment to Excellence!

Fees to be Aware of When Purchasing a Home

Tuesday, 04 May 2021 13:47
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Purchasing a home is arguably one of the biggest financial decisions you will make in your lifetime. As you start your hunt, don’t forget there will be other costs associated with your purchase than the price of the home. This is valuable information, especially for first-time homebuyers. These are all good reasons to hire an experienced Real Estate Agent to help navigate you through the process, plus the fact of multiple offers and homes now selling above listing price.

Here are 5 fees to keep in mind as you begin to budget.

  1. Home inspection. This is a crucial step in the home buying process. The findings that come from the inspection can help you negotiate price and repairs. Generally, you can expect to pay between $300 to $500 depending on the home and the location.
  2. Title services. Title services encompass the transfer of the title from the seller and a thorough search of the property’s records to ensure to no one will pop up with a claim to the property. Additionally, you may need to buy title insurance which will protect the lender or your investment in the home.
  3. Appraisal fee. Before getting a loan, you will likely be required to get an appraisal of the home to determine its estimated value. This will be conducted by a third-party company and the cost can land anywhere between $300 and $1,000, depending on the size of the home.
  4. HOA fees. Many communities have a homeowners’ association that enforces monthly fees. This money is used for general maintenance and updates to areas like pools, parks, and more. Typical HOA fees are around $200 per month.
  5. Taxes. The taxes each buyer pays at the closing table differ, but it is not uncommon for it to be up to two months’ worth of county and city property taxes. Additionally, there may be taxes for the transfer of the home title.

I would be happy to talk with you as you prepare to buy or sell and devise a plan to help you transition as smoothly as possible.

Sincerely,

Marie Dinsmore

The Dinsmore Team

Experience, Passion, and Commitment to Excellence

Navigate multiple offers with ease

Friday, 29 July 2016 10:25
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shutterstock_142213210-ae5bd4There’s nothing like the feeling you get when, after touring what seems like—or might actually be—dozens and dozens of houses, you finally find the one.  The minute you enter, you can see your life playing out within its walls and try as you might, you cannot squelch the array of possible paint colors floating through your head.  It has to be yours.  You’re certain it will be…

…until you discover that nine other bidders are waiting in line.

How did that happen?  You’re angry and anxious, especially since you know that you’re attempting to buy in a seller’s market.  After the housing collapse several years ago, it might seem strange to see buyers without the upper hand; however, with less inventory currently on the market, it’s not unusual for sellers to receive upwards of 15-20 offers on a home.

Therefore, if you find yourself in this type of situation, whether you think you stand a chance or not, it’s always a good idea to write an offer anyway.  To help you along, here are a few tips to put you in the best possible position:

DON’T UNDERESTIMATE EXPERIENCE.  You wouldn’t go to court with an inexperienced, novice attorney, so why would you bet your financial livelihood on an inexperienced real estate agent?  When it comes to navigating a multiple-offer situation, hiring the services of a seasoned Realtor—who is not only familiar with the process, but has a track record of successful closings—is one of the most important steps you can take.

GET PREAPPROVAL.  Generally speaking, each offer will undoubtedly be accompanied by a prequalification letter from a lender; however, you can appear to be the strongest buyer by entering negotiations with a loan preapproval letter.

PUT YOUR BEST OFFER FORWARD.  Instead of expecting negotiation, write your best offer and make it attractive.  In an effort to determine pricing, a solid Realtor will be able to give you a comparative market analysis, which is important since many sellers intentionally set low prices in an effort to generate multiple offers.  Just because you’re paying above their asking price, doesn’t necessarily mean you’re paying more than the market value.

UNCOVER WHAT’S IMPORTANT.  All sellers have certain wants that will help you land in their good graces.  Whether it’s a fast closing or a longer than normal escrow period, ask your Realtor to find out what those hot buttons are and work hard to make them a reality.

DON’T GET HUNG UP ON CONTINGENCIES.  While it’s essential to get a home inspection before you close on a property, there’s nothing wrong with tightening the time period a bit.  When it comes to contingencies you have the power to speed things along, so if your loan is solid, don’t be afraid to waive the loan approval contingency.

MAKE IT PERSONAL.  In some instances, it may even be helpful accompany your offer with a handwritten letter that will explain to the seller why their home is perfect for you and your family.  Making things personal will not only help you stand out, but it will take you from being just another offer to being a real person.

In the end, multiple offer situations can be challenging, especially if you’ve found yourself on the losing end of a similar circumstance in the past.  To make yourself the best possible candidate, straighten your affairs and hire a practiced Realtor who can walk you through the process.

To learn more or to see how I can help you, please feel free to contact me.  I’m a proven Realtor who is great in multiple offer situations—and I’d love to hear from you!

Marie Dinsmore
The Dinsmore Team
www.DinsmoreTeam.com
770-712-7789

How to Navigate a Multiple-Offer Situation

Monday, 15 February 2016 23:11
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shutterstock_142213210-ae5bd4There’s nothing like the feeling you get when, after touring what seems like—or might actually be—dozens and dozens of houses, you finally find the one.  The minute you enter, you can see your life playing out within its walls and try as you might, you cannot squelch the array of possible paint colors floating through your head.  It has to be yours.  You’re certain it will be…

…until you discover that nine other bidders are waiting in line.

How did that happen?  You’re angry and anxious, especially since you know that you’re attempting to buy in a seller’s market.  After the housing collapse several years ago, it might seem strange to see buyers without the upper hand; however, with less inventory currently on the market, it’s not unusual for sellers to receive upwards of 15-20 offers on a home.

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Featured Neighborhood: St. Michaels Bay on Lake Lanier in Cumming, GA

Monday, 14 December 2015 14:00
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Brevard Front 1If you’re in the market for a beautiful home with access to Lake Lanier, this perfectly planned neighborhood is sure to please.  Designed and built by Peachtree Residential Properties, St. Michaels is perfect for active families who are looking for resort-style amenities and the privacy that comes with living in a gated community.

Complete with a private covered marina and courtesy dock, as well as lighted tennis courts, hiking/nature trails, a junior Olympic swimming pool, and luxury clubhouse with fitness center and billiard room, everything you’ll need for a fun weekend just outside your front door.

With homes ranging from $395,900 to $495-900, nothing has been spared.  From three-car garages, gourmet kitchens, and luxurious master retreats to stainless steel appliances, hardwoods, and granite countertops, each house is like walking into a dream.  While some sites have already been built, buyers have the option of customizing their home through our Design Center, which offers professional design services on everything from carpet and tile to countertops and appliances.  Their services are geared towards the client, so you’ll received focused, individual assistance until your home is complete.

Located in North Forsyth County, this stunning development is a short drive from exit 17 on GA-400, with convenient access to an abundance of restaurants and shops.

SCHOOLS

Chestatee Elementary

Little Mill Middle

North Forsyth High School

SHOPPING

The Collection at Forsyth

GA 400 Outlets in Dawsonville

Lakeshore Mall in Gainesville

Hospitals

Northside Forsyth Hospital

Northeast Georgia Health System & Medical Center

If you’d like to schedule a showing or would like to learn more about this beautiful community, please contact me at 770-712-7789.

For free tips on everything from staging and remodeling to the buying and selling process, please stop by the blog on my website.  It’s updated on a weekly basis!

Marie Dinsmore | The Dinsmore Team | www.MarieDinsmore.com | 770-712-7789