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Why Location is Important When Purchasing a Home

by Desi Sowers

I’m sure you’ve heard the phrase “location, location, location!” before, but it has never meant more than when you are purchasing a home.  You can fall in love with your dream home, fix it up, renovate it; even change its structure, but if it’s in the wrong location, you likely can’t move it.  It’s attached to the land.  Identical homes can increase or decrease in value depending on their location.  Choosing the best area for living and resale value is equally as important as choosing your ideal home.  Here are a few things to be aware of when searching for the right location for your investment:

  • Top Rated School Districts

Homebuyers with children often seek homes in highly desirable school districts. They are willing to spend more for a home to enable their children to go the “best schools.”

  • Recreation & Nature

Homes on the water or near parks hold their value because people enjoy living where they can enjoy the outdoors.If you love the outdoors and being active, chances are you wouldn’t enjoy living in the middle of the city, or even in suburbs that require you to drive somewhere for outdoor recreation. Outdoors - Virginia's New River Valley

  • Scenic Views

A home with a scenic view often sells quickly. And there are plenty of breathtaking vistas to see in the New River Valley!  Mountains, golf courses, even a small glimpse of water are enough to entice buyers to purchase a home. It’s not only great for resale value, but you get to enjoy beautiful views while living there.

  • Entertainment & Shopping

While some buyers seek out scenic views, others may be looking for a home that enables them to walk to restaurants, movie theaters and boutiques.  If you prefer cultural activities to outdoor activities, then it would make sense for you to look for a home in a town or city.

  • Economically Stable Neighborhoods

Older neighborhoods that have survived economic recessions while maintaining evident pride of ownership appeal to buyers looking for long term stability.

  • Public Transportation, Healthcare & Jobs

Some buyers will be looking for convenience. They don’t want a long commute to work and want to have easy access to transportation and healthcare facilities. New River Valley Transportation Services

So, you may find your dream home but if it’s not in the right location, it might not be a dream come true. When purchasing a home remember…location, location, location!

If you’re thinking about selling or buying a home in the New River Valley area, contact professional, experienced Realtor Desi Sowers and let her assist you with all your real estate needs. Give her a call today at 540-320-1328!

Photo Credit: hosteltrends.com

Mortgage 101: Tips for First Time Home Buyers

by Desi Sowers

Deciding to buy a home is exciting. But it can also be overwhelming, especially for first-time home-buyers.  There is so much to think about. Before you start your home search, you should find a mortgage lender who can help walk you through the home-buying process.  Follow these mortgage tips and you will be prepared to purchase the home of your dreams!

  1. FIND THE BEST LENDER

With a little homework, you will be able to find the best lender to help walk you through the home-buying process.Get recommendations from friends and family or from your Realtor. Interview lenders. Find out what their closing time averages are and look up customer satisfaction rates.This is likely the largest financial investment you will ever make, so be sure that the lender you choose is right for you both personally and financially. Best Mortgage Lenders 2018

  1. DETERMINE HOW MUCH YOU WANT TO SPEND ON A HOME

There is a difference between what you can afford and what you are willing to spend.Many factors play into this decision.Your lifestyle, the size of home you’re looking for, and other expenses should all be considered.You might be shocked by what the numbers say. Chances are you won’t want to spend as much as you qualify for.So, work out a budget first and don’t overestimate what you can afford. Can You Afford That House?

  1. GET PRE-APPROVED FOR A MORTGAGE LOAN

The last thing you want to happen is to find the perfect home and not be able to make an offer because you haven’t been pre-approved for a loan. Taking the time to do this now will save you time and grief in the future.

  1. STOP SPENDING

Now is not the time to make large purchases.Avoid taking out new lines of credit.Don’t purchase a new car or apply for a new credit card.Make sure that you are not adding to your credit card balances.Remember that your Debt to Income Ratio is a vital piece of the mortgage puzzle and can be a deal breaker if you go over your limit.Save large purchases for after closing day.

  1. DON’T RUSH!

Now that you’ve got all your ducks in a row, the fun begins.Take your time searching for the right home.This is a financial investment that you will be living with for a long time, so don’t settle. Professional Realtor Desi Sowers can answer any questions you have about purchasing your first home.Give her a call today at (540) 320-1328

New River Valley VA Real Estate 200 Hagan Street Christiansburg VA 24073
 
 
 
View the Tour

 

Pack your things and get ready to move! Here is your chance to live in a charming Bungalow with in-town conveniences. An inviting covered porch overlooking nearly a half-acre sets the scene for this sparkling move-in ready home. One lucky buyer will enjoy glistening refinished hardwood floors, neutral paint colors, sun drenched rooms, built-in’s, French doors, vinyl windows and the pride of home ownership! A bright kitchen offers ample cabinet and counter space plus an adjoining breakfast area that is just waiting for a family to make memories. Main level master and two upper bedrooms for a dreamy night’s rest. Large unfinished basement includes a laundry area, outside access and plenty of storage. Gorgeous lot with mature trees, garden area and storage shed. Ready set go, first time home buyers this is the home you have been looking for.

You don’t have to just visit; you can live here and enjoy Virginia’s growing economy and vacation-like lifestyle! With easy access to I-81 you can appreciate a prime example of why New River Valley VA is such a desired place to live and play.

Desi Sowers has distinguished herself as a leader in the New River Valley real estate market. Desi assists buyers looking for New River Valley real estate for sale and aggressively markets New River Valley homes for sale.

Desi brings with her a keen eye for the details of buying or selling a New River Valley home and seemingly boundless determination and energy, which is why her clients benefit from her unique brand of real estate service. Rooted in Tradition, focused on the Future – Desi Sowers will help make the most of your New River Valley real estate experience. Give her a call today, 540-320-1328, and discover the difference she can make during your family's move.

It’s a challenging time to purchase a home this spring because you not only have to find a property you want; you must also beat out all the other homebuyers who want to make an offer on it as well.  It is a Sellers' Market right now and that means supply is low and demand is high. This is especially true in the price ranges desired by first time homebuyers. The latest figures from the National Association of Realtors show that that there was only a 3.4-month supply of homes for sale in February, which is lower than the six-month supply that indicates a balanced market that equally benefits buyers and sellers.

So, home sales are moving quickly and often have multiple offers.  That means you need to be strategic to get into the home of your dreams.  Going to open houses and perusing listings is not enough to acquire the house you want in this market.

Seeking out an experienced Realtor to assist you in your search is vital to your success in buying a home this spring.  Realtors can help you with everything from finding properties, to placing appropriate offers and negotiating terms.   Knowing what is most important to sellers is key to winning a bidding war.  A good agent will know what motivates sellers.

Take the following steps to prepare and you will have a better chance at success:

  • Get your finances in order and shop for a Mortgage Pre-Approval prior to making an offer on a house.
  • Move quickly once you find the house you want.
  • Don’t make snap judgements based on listing photos. You must see a home in person to know if you truly love it or hate it.  Pictures do not tell the whole story!
  • Be realistic about the inspection and repairs.  In a competitive market, owners don’t need to make repairs to sell.  Inspections should be utilized to find major flaws that may be deal breakers for prospective buyers.
  • Start with your best offer. A competitive market is not the right market for negotiating a bargain.
  • Write a personal letter to the seller. You never know what might influence their decision.  Some homeowner love their house so much they want it to go to someone who will love it as much as they do.
  • Make a big earnest money deposit. A large deposit will let sellers know that you are serious about the purchase.
  • Make a backup offer. Even if a house is already under contract, the deal might still possibly fall apart for various reasons such as inspection issues or financing.  If you love a house, put a backup offer on it so that you will be first in line if the initial buyer walks away.
  • Consider waiving or shortening contingencies. Most offers are made contingent on the buyer being approved for a mortgage, the appraisal being equal to the purchase price and the buyer approving the inspection. Waiving any one of those contingencies can be risky, but may be worth taking a chance on in some circumstances.

Desi Sowers is an experienced, professional Realtor serving the New River Valley area in Virginia. If you’re looking to buy a home here, give her a call at 540-320-1328 and let her help you navigate this sellers’ market and successfully purchase the home of your dreams!

Searching for the right home is a huge endeavor.  Your home is where your heart is…where you feel safe and comfortable and happy. It’s the place where you spend time with your family, where you raise your children, where you come together in times of joy and sorrow.  So, choosing the perfect house is something that should never be taken lightly.  While feeling emotionally drawn to a home might feel good, it’s important to also consider practical aspects as well.  When deciding to make what will probably be your largest financial investment, you cannot rely solely on what you feel.  Both your head and your heart should be part of the decision-making process.

When you start your home search, chances are you’ve been thinking about it for a while and you have an idea of what you want.  If you’ve provided your Realtor with a list of wants and needs, she will find homes to show you that have as many of your wants and needs as possible.  You may walk into the very first home and immediately fall in love with it.  And that’s ok.  But that doesn’t mean you should stop your search and make an offer.  Here are some reasons why you should keep looking:

- There may be other homes with similar features, but lower asking prices.  Maybe the first home you fall in love with is the best one for you, but you can’t possibly know that if you haven’t compared it to any others.  It’s wise to shop around and compare that first home to others.

- You should take time to consider resale value.  Whether you are planning to stay in your new home long-term or you know you might be moving in a few years, resale value matters.  Shopping around will help you get a feeling for the area where you are looking. Is your “first love” home the nicest in the neighborhood?  If so, it may not appreciate in value as much as the others.  Educate yourself about features that provide high resale value before making a final decision on a home.

- Getting super excited about the aesthetics of a home can cause you to miss red flags.  You may walk into a home and immediately see beauty and perfection.  But that doesn’t mean it is in perfect condition.  Be careful to not get swept away by the look of the home.  Remember, you can’t judge a book by its cover and in the same respect, you can’t judge a home by its appearance.  There may be hidden problems that only a thorough, professional inspection will unearth.

- You will save yourself from experiencing “buyers’ remorse”.  Have you ever impulsively gotten a haircut, then looked in the mirror and wondered “what was I thinking?”  Choosing a home should never be an impulsive decision.  Don’t rush into it.  If, after looking at several more houses, you’re still in love with the first one you saw, go for it!  You can be confident in knowing that you are making an educated, thoughtful decision.

Falling in love with a home is just part of the equation when it comes to choosing the perfect place for you and your family to live.  Desi Sowers is committed to serving real estate clients in the New River Valley area. Contact her at 540-320-1328 and let her help you find your dream home today!

YOUR HOME SEARCH STARTS HERE            FIND OUT WHAT YOUR HOME IS WORTH  

Photo Credit: thestoryfiles.wordpress.com

Purchasing Your First Home - 5 Steps to Get You Started!

by Desi Sowers

Buying your first house is a monumental milestone in life.  It’s likely the largest financial commitment you will have made up to this point.  You want to get it right.  Here is a basic overview of five essential things you need to know when taking this step.

- Hire a Realtor.  Having a Realtor will save you time.  They can send you listings directly from the MLS that fit your wants/needs and you won’t waste time looking at properties that might already be under contract. Realtors are also often aware of new listings that are not yet on the market.  And while house hunting, there is no point in wasting your gas when an agent will pick you up and provide transportation.  The advice you will receive from a qualified Realtor will be invaluable in the buying process.
 

- Figure out what you’re looking for.  Searching for the right home can be overwhelming, especially if you’re not even sure what you want.  Come up with a list of must-haves and desires that you can present to your Realtor so that they can provide listings that fit those parameters.
 

- Get a loan.  It is smart to get loan pre-approval prior to making an offer on a house…especially in a seller’s market where you may be competing with other buyers. Sellers want assurance that you will be able to complete the purchase of the home.
 

- Negotiate the offer. Don’t make the mistake of comparing the sale price to other homes you have seen because the truth is, sellers can ask any amount they want for a house.  Your agent can provide you with comparable sales of similar houses in the same condition and location over the past few months. Keep in mind that you may have to pay more than the list price in a seller's market.
 

- Do a home inspection. Some states will allow you to have a home inspection prior to making an offer on a home. In other states, the inspection becomes a contract contingency, meaning the buyer has the right to cancel the contract.  Either way, you don’t want to get locked into purchasing a home that has a faulty foundation, for example.

Remember, you don’t have to do this alone! Contact Desi Sowers at 540-320-1328 to help you find your first home today!

http://www.desisowers.com/Blog/Buying-or-Selling-a-Home-Ten-Reasons-to-Hire-a-Professional-Realtor-Today

http://www.desisowers.com/Blog/Finding-Your-Dream-Home-Tips-for-Success

http://www.desisowers.com/Blog/Home-Inspections-are-Important-Heres-Why

Don’t be Shocked by the Unexpected Costs of Buying a Home

by Desi Sowers

Buying your first home is exciting.  After getting approved for a mortgage loan, working with a professional Realtor and finding your dream home, it’s time to settle in and start enjoying your new digs.  Then BAM!  The shock of an unexpected expense slaps you in the face.  Don’t let that happen to you.  Being informed about the possible expenses of being a homeowner will not make spending the money any more fun, but at least you will be prepared.  Here are some ancillary costs of homeownership that you should be aware of:

 - CLOSING COSTS - When closing on your mortgage you will be presented with a long list of costs: mortgage taxes, lender application fees, attorney’s fees, title insurance, recording fees and any potential real estate tax reimbursements if the seller has paid them up front.  Altogether, closing costs are an average of 2 to 5 percent of the total cost of the home.  They will vary state to state.  Closing cost information for Virginia can be found here.

 - HOME MAINTENANCE - Now that you are a homeowner, you are solely responsible for the maintenance and upkeep of your property.  Everything from yardwork to cleaning; pressure washing to clearing the gutters…it’s all in your hands and on your dime.  Oh…and fixing things.  Yeah.  When the AC isn’t working or there is a leaky faucet, you will be footing the bill for repairs.  This all sounds a bit scary, but the key is to be prepared.  Go into your home purchase knowing that you will likely be spending about 1% of the purchase price of your home on maintenance annually.

 - PROPERTY TAXES - Property taxes vary by state and can also vary based on city, ordinance, and even specific house.  You can utilize a Property Tax Calculator to get an idea of what your taxes will be when planning for your expenses.

 - UTILITIES - If you’re coming from a rental where your utilities were included with the rent, you may not have considered how much you will need to set aside to pay for electricity, gas, water and sewage costs.  Added to internet, cable and phone bills, it can be quite a chunk of change.  Planning for utility costs is crucial to making sure you can afford to live in a home of your own.

 - HOMEOWNER’S INSURANCE - When you get a mortgage, you must get homeowner's insurance as well.  Be sure to do your homework and shop around for the best possible price.  You can get discounts for things like security systems, working from home or bundling coverage for your home with your auto insurance policy.  Educate yourself on what your insurance policy covers so that you’re not left disappointed when you must pay for something you thought would be taken care of.

Don’t let these expenses scare you off from purchasing a home.  Again, the key is to be aware of them going in so that you won’t be caught unawares when they come up.

http://www.desisowers.com/Blog/Buying-or-Selling-a-Home-Ten-Reasons-to-Hire-a-Professional-Realtor-Today

http://www.desisowers.com/Blog/Finding-Your-Dream-Home-Tips-for-Success

http://www.desisowers.com/Blog/Home-Inspections-are-Important-Heres-Why

Finding Your Dream Home: Tips for Success

by Desi Sowers

With interest rates still relatively low, but expected to rise in 2018, now is the time to start your search for a new home.  Here are some tips to help you find your dream home:

 - Make a list of priorities.  Ideally, your dream home would have everything you want in it, but it’s still a good idea to make a list of what you want in order of importance to you. What are you most concerned about?  Location? Square footage?  Private backyard? You may have to give up one thing to get another, so you want to be prepared with your priorities so you will know what is non-negotiable for you.  Also, think about desires verses needs when making your list.  For example, a home might not have the vaulted ceilings that you love, but meets your needs and wants in every other way. Those vaulted ceilings are a “want” more than a “need”.

 - Think ahead.  How long do you plan to live in the home?  If you are single or newly married you may want a starter home that you will only stay in for a few years while you save for a larger home.  But if you are expanding your family or planning to work from home, make sure you factor in the space that you will need.  Don’t buy a house that will only suit your needs for a year if you think you may live there for ten years.  There is always the chance that things will change, but plan for what you know for sure now.

 - Decide on your “most lived in” spaces. Where do you spend the most time in your current home?  If you love to cook, chances are the kitchen is going to be the most important room for you.  If you are a homebody who likes to kick back and watch movies, your den or family room might be the room to focus on.  It might be challenging to find a home where you love every room, but you can give a little on the others if the one you use the most is perfect for you.

 - Stick to your budget.  While searching for your dream home, it may be tempting to extend your budget a bit. Don’t do it. A standard goal is to keep your mortgage payment (with taxes and insurance included) at around 25% of your monthly household income.  Make sure that you have looked at your overall monthly budget to see what you can really afford, and then limit your house hunting to properties in your price range.  Refrain from looking at houses 1-2 price ranges above yours. You don’t want to get excited about a property that you can’t afford. In addition, once you have seen them, the houses that you can afford won’t look as good in comparison.  The exception is that if it is a buyer’s market, you might be able to negotiate a lower price, so it is ok to look at homes just slightly above your budget.

 - Decide if you want to do renovations or if you want a move-in ready home.  If you are handy, you might see a diamond in the rough that you want to fix up yourself.  Make sure if you do this that you are not shopping at the top of your price range because you will need extra funds for doing the renovation.

 - Try to see through the “ugly”.  It’s easier said than done for some people, but try not to just pass on a home because of cosmetic reasons.  Look at the bones of the house and imagine its potential. Focus on layout and flow rather than paint and décor.  If it’s the right home for you, cosmetic changes are easy and will give you the opportunity to make the home your own.

 - Don’t give up!  It might take a while to find exactly what you want.  Be patient and don’t settle for something just because you’re tired of looking.  You never know when just the right house will go on the market.  It will be worth the wait when you move into the home of your dreams!

 

http://www.desisowers.com/Blog/Open-Floor-Plans-Love-Them-or-Leave-Them

http://www.desisowers.com/Blog/Home-Inspections-are-Important-Heres-Why

http://www.desisowers.com/Blog/Investing-in-Real-Estate-Tips-for-Success

A Home for the Holidays: 5 Reasons to Buy Now!

by Desi Sowers

Buying a home in the midst of the holiday season might sound like a crazy idea, but the truth is there are good reasons to purchase a home this time of year.  Here are 5 good reasons to purchase a home during the holidays:

- Less Real Estate Market Activity - With lots of family, school and work activities happening during the holidays, fewer real estate transactions are taking place.  Because fewer people are looking for houses, there is less competition for buyers.  And with less competition, buyers have more leverage when negotiating purchases.  People selling homes during the holidays must often lower asking prices or make other concessions to sell.  So, if you buy this time of year, you might get a bargain!

- Highly Motivated Sellers:  If someone is selling their house at the end of the year, it’s because they need to.  Usually sellers avoid the end of the year due to shorter days and cold weather, so if they are selling this time of year they are likely under pressure and motivated to make a deal.

- Lower Interest Rates: Because of limited demand during the holiday season, there is greater competition among lenders so there is a general trend of lower rates. 

- Tax Perks: Buy a house before the end of the year and you can deduct any points you paid upon closing.  You can also deduct property taxes and mortgage interest.  Learn about the tax benefits of purchasing a home and find out if it is to your advantage to buy before year’s end. While your decision to buy a home shouldn’t be made solely for tax reasons, you certainly want to take advantage of the perks that exist!

- Faster Closings: Everybody involved in the home buying/selling process has incentive to complete transactions before the end of the year.  Lenders want to close their books, Realtors want to receive their commissions before the new year and sellers are anxious to move on.  Since everyone is so motivated, and there is less real estate activity, closings should happen quickly and efficiently.

So, if you’re thinking of buying a house anytime soon, don’t wait for the holidays to be over. Contact Desi Sowers at 540-320-1328 and start your home search today!

http://www.desisowers.com/Blog/Selling-to-Millennial-Homebuyers

http://www.desisowers.com/Blog/Debunking-the-20-Down-Payment-Myth

http://www.desisowers.com/Blog/Help-for-First-Time-Homebuyers

Selling to Millennial Homebuyers

by Desi Sowers

Generation Y, better known as millennials are buying homes. In fact, per the National Association of Realtors’ 2017 study of generational housing trends, millennials (those born between 1980-2000) make up the largest portion of the buyer market at 34%. That being said, when selling your home, it would be wise to think about the wants and needs of millennials as potential buyers.  Here are 7 must-haves for selling a home to millennials:

  • Updated kitchens and baths –  young homebuyers have been saving for a down payment and budgeted for mortgage payments, but they want move-in ready homes.  Updating kitchens and baths are expensive, so unless they are specifically looking for a fixer upper, they are going to want these rooms in particular to already be updated.
  • Location, location, location - millennials are not only facing higher gas prices, but they are more environmentally conscious.  They are looking for homes in areas that have easy access to public transportation and a good walk score.
  • Great Rooms – there was a time when a formal dining room was on every buyer’s wish list. But this generation of buyers prefers a great room with combined kitchen and living space.  And because of how younger homeowners entertain, they prefer an open floor plan for easier flow throughout the house.
  • Home office – millennials make up a huge portion of our work force. Working from home has risen in popularity by 80% over the past ten years.  So, having a home office is definitely a must for most young buyers.  Even if you have a room staged as a bedroom, it would be prudent for your agent to point out that it could be used as a home office.
  • Low maintenance – young buyers want low maintenance homes.  Things like wood floors and granite countertops appeal to them because they are both attractive and easy to take care of.  Smaller yards are their preference as well. They want to spend their free time relaxing or traveling, not doing yardwork and cleaning.
  • Technology – this generation life without the internet and cell phones.  Good service is vital to them.  Many millennials don’t even use a landline.  You may not be able to control the strength of cell service at your home, but you can be sure that young buyers will be asking about it.
  • Energy efficiency – With a growing interest in protecting the environment, younger buyers look to buy "green homes".  While energy efficiency is not the top reason to purchase a house, it can certainly be an advantage when dealing with millennial buyers.

If you are a millennial looking to buy a home in the New River Valley, let Desi Sowers help you find the perfect home to suit your needs and desires.  Call her today at (540) 320-1328!

http://www.desisowers.com/Blog/Welcome-to-the-New-River-Valley

http://www.desisowers.com/Blog/Help-for-First-Time-Homebuyers

http://www.desisowers.com/Blog/To-Renovate-or-Not-to-Renovate-Should-You-Fix-Up-Your-Home-or-Sell-it-As-Is

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Photo of Desi Sowers,  Associate Broker,  Real Estate
Desi Sowers, Associate Broker,
Certified Residential Specialist at REMAX 8
1344 N. Main Street
Blacksburg VA 24060
Phone: (540) 320-1328

Each Office Independently Owned and Operated