John Colby


Posted by John Colby on 2/4/2018

The kitchen is one of the busiest rooms in a home. Not just a place to cook meals itís also often the entrance to a home and where families gather together at the end of the day. Arguably, itís also the most important room in the home and the one home buyers should be most astute of.

The kitchen is one of the most expensive rooms to remodel ranging between $20,000 and $50,000. Whether youíre eager for some renovation projects or looking for a move-in ready home, youíll want to assess the level of work this room will need as your shop potential houses.

Start with perhaps the most obvious - is the room large enough for your daily needs? Is there plenty of counter space or room to expand cabinetry? Do you have a lot of kitchen tools that call for plenty of storage space or perhaps prefer an island to prep dinner at? Know what your ideal kitchen space ahead of time, especially if it is a priority, so your realtor can help you find the perfect fit.

Check that all appliances to ensure they are in working order as per the disclosure statement claims. Appliances are a big expense and youíll want to have a good idea of what will need replacing or to be installed. Consider if they are an easy color to match when it comes time for replacement and if any are under warranty.

Youíll also want to examine the cabinetry. Check to ensure all drawers and cabinets are properly aligned and open smoothly. If they are wooden cabinets you can easily swap out hardware or change the color if youíre not a fan of the current style. However, other materials are not as convenient so consider replacement costs if youíre unhappy with the current installation.

Countertops can be another major expense. Have the granite countertops been properly taken care of? If they are laminate are they scratched or chipped? If this isnít an upgrade youíre looking to make, be sure to look closely at what each home already has in place.

Kitchens are one of the busiest rooms in your home, especially if you love to cook. Check flooring for loose tiles, discoloration or poorly maintained wood flooring. This tells you a few things. Firstly, the quality of the materials used to build the home. And secondly, how well the house has been maintained over time.

Remodeling isnít on everyone's list when house shopping. And with kitchenís being one of the most expensive to renovate, this is one room you want to pay extra attention to as you view each potential home. Happy house hunting!




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Posted by John Colby on 1/14/2018

If you are preparing to buy a house in the foreseeable future, you'll want to check out lots of home listings. That way, you can browse dozens of residences at your convenience and boost your chances of finding a terrific house.

Ultimately, there are several factors that homebuyers should consider as they evaluate house listings, and these factors are:

1. A Home's Age and Condition

A home's age and condition are key considerations for all homebuyers, at all times. If you assess a house's age and condition in a home listing, you may be better equipped than ever before to determine whether a residence is right for you.

Oftentimes, a home seller will provide the year that a residence was built in a house listing. A seller also may include details about any home upgrades and when these were performed, such as the installation of a new roof or heating and cooling system.

Study a house's age and condition closely Ė you'll be glad you did. If you evaluate these factors in a home listing, you can narrow your home search as needed.

2. A Home's Price

You know that you want to acquire a house, but you need to consider how you'll pay for a residence too. Fortunately, a home listing includes a house's price, ensuring you can find out whether a residence falls within your price range.

If a house exceeds your price range, you may still want to check it out as well. Remember, the initial asking price of a house is not set in stone, and you may be able to negotiate with a home seller.

For a buyer who reviews a house listing and is unsure about whether to pursue a residence based on its price, assistance is available. In fact, if you meet with local lenders, you can evaluate many mortgage options, get pre-approved for a mortgage and establish a homebuying budget.

3. A Home's Location

Think about whether you want to live in a city or town as you assess home listings. By doing so, you can perform a fast, efficient home search and increase the likelihood of discovering a house in your ideal city or town.

Furthermore, it usually is a good idea to think about your day-to-day activities prior to looking at home listings. If you want to own a house that's close to your office in the city, you may want to review home listings for residences in or near the city itself. Comparatively, if you prefer small town living, you can examine home listings in small towns across the United States.

If you need assistance during your home search, you may want to hire a real estate agent. This housing market professional can provide timely, accurate home listings for residences as soon as these houses become available. As a result, a real estate agent can make it easy for you to pursue many outstanding residences and find one that you can enjoy for years to come.




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Posted by John Colby on 1/7/2018

If you intend to buy a house, you probably will check out a lot of home listings over the next few days and weeks. However, it is important to note that not all home listings are created equal, and how you analyze home listings may dictate your homebuying success.

Ultimately, there are several factors that homebuyers need to consider as they assess home listings, and these factors include:

1. Price

The price of a home is one of the key factors Ė if not the most important factor Ė that a homebuyer needs to consider in a home listing. Because if you ignore a home's price, you risk wasting precious time and resources as you pursue a home that falls outside your price range.

When it comes to buying a home, it pays to develop a budget ahead of time. That way, you'll know how much you can spend on a residence and can tailor your home search to fit your budget.

You may want to get pre-approved for a mortgage prior to looking at home listings as well. By doing so, you can enter the housing market with a budget in hand and explore available residences that won't force you to spend beyond your means.

2. Condition

Are you looking for a fixer-upper or a brand-new residence? Take a look at a home's condition, and you can determine whether a particular residence is right for you.

Oftentimes, a decades-old residence may require myriad upgrades. This means you may need to allocate significant time and resources to enhance the condition of an old house after you finalize your home purchase.

On the other hand, it is essential to remember that a new house may prove to be more expensive than an old residence. And if you're on the lookout for a bargain, you may want to shy away from listings for brand-new houses.

3. Features

Creating a list of must-have home features is ideal, as this will enable you to narrow your search for your dream residence.

For instance, if you want a home that has a big swimming pool, you can browse home listings accordingly. Or, if you would like to buy a house that is located near some of the nation's best schools, you can focus on home listings in cities and towns that feature top-rated schools.

If you want to streamline your home search, it usually helps to look beyond home listings. Fortunately, real estate agents are available to help you accelerate your search for the perfect residence.

A real estate agent understands the ins and outs of the housing market. He or she will learn about your homebuying goals and provide you with the latest home listings. Then, a real estate agent will work with you to simplify your home search and ensure that you can discover a terrific residence at an unbeatable price.

Take the guesswork out of reviewing home listings Ė use the aforementioned tips, and you can quickly evaluate a wide range of home listings and find your dream house.




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Posted by John Colby on 12/31/2017

Obtaining a home loan is a must for most homebuyers. However, there is a lot to think about to ensure a homebuyer can secure a loan that matches or exceeds his or her expectations.

Some of the key questions to consider about a home loan include:

1. What is a home loan's interest rate?

It is paramount to understand a home loan's interest rate, along with any associated loan fees. That way, a homebuyer will know exactly how much he or she will be paying over the life of a home loan.

If a homebuyer chooses a fixed-rate mortgage, he or she can lock in an interest rate for the duration of a home loan. This means a homebuyer will pay the same amount each month. And in many instances, a fixed-rate mortgage can be paid off early without penalty.

On the other hand, a homebuyer may prefer an adjustable-rate mortgage. With this type of mortgage, a homebuyer may receive a lower interest rate initially that rises after a set period of time.

Compare and contrast the different home loan options and their associated interest rates. By doing so, a homebuyer can make an informed home loan decision, one that serves him or her well both now and in the future.

2. Does a home loan require a minimum down payment?

Ask a lender about whether there is a minimum down payment required as part of a home loan agreement. Typically, a homebuyer will need to pay at least a small portion of a home's price to secure a home loan, and it certainly helps to have this information available before you start evaluating available residences.

In addition, it may be worthwhile to save as much money as possible prior to starting a home search. With money at your disposal, you may be better equipped than ever before to make a large down payment, thereby reducing the amount that you'll need for a home loan. Plus, you may even be able to boost your chances of getting a favorable home loan interest rate.

3. Will I need to provide legal documents to obtain a home loan?

Lenders will require you to provide proof of your income and assets, W-2 statements and other legal documents to finalize a home loan agreement. If you stay organized and have these documents readily available, you should have no trouble providing them to a lender as needed.

Overall, the home loan application process may vary from several weeks to many months. The time it takes to secure a home loan can be stressful, and if you need extra help along the way, it never hurts to reach out to a real estate agent.

With a real estate agent at your side, you can streamline the process of buying your dream home. This housing market professional can offer expert tips throughout the homebuying journey and ensure you can discover a great house at an affordable price.

Take the guesswork out of securing a home loan Ė consider the aforementioned questions, and you can move one step closer to getting the financing you need to obtain your ideal residence.




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Posted by John Colby on 12/3/2017

The process of closing on a home can seem lengthy and complex if itís your first time buying or selling a house. There are several costs and fees required to close on a home, and while itís up to the individuals to decide who covers what costs, there are some conventions to follow.

In this article, weíre going to talk about closing costs for selling a house and signing on a mortgage. Weíll discuss who pays what, and whether there is room for negotiation within the various fees and expenses.

But first, letís talk a little bit about what closing costs are and what to expect when you start the process of buying or selling a home.

Closing costs, simplified

If youíre just now entering the real estate market, the good news is you can often estimate your closing costs based on the value of the property in question. You can ask your real estate agent relatively early on in the process for a ballpark figure of your costs.

Closing costs will vary depending on the circumstances of your sale and the area you live in. In some cases, closing costs can be bundled into your mortgage, such as in ďNo Closing Cost Mortgages.Ē However, avoiding having to deal with closing costs often comes at the expense of a slightly higher interest rate.

If you are planning to buy a house and have recently applied for a mortgage, laws require that your lender sends you an estimate of your closing costs within a few days of your application.

Now that we know how closing costs work, letís take a look at who plays what.

Buyer closing costs

In terms of the sheer number of closing costs, buyers tend to have the most to deal with. Fortunately, your real estate agent will help you navigate these costs and simplify the process.

They can range from two to five percent of the cost of the sale price of the home. However, be sure to check with your lender for the closest estimate of your closing costs. Itís a good idea to shop around for mortgage lenders based on interest rates as well as closing costs charged by the lender.

Here are some of the costs you might be asked to pay as a home buyer:

  • Appraisal fees

  • Attorney fees

  • Origination fees

  • Prepaid interest or discount points

  • Home inspection fee

  • Insurance and Escrow deposits

  • Recording fees

  • Underwriting fees

Seller Closing Costs

While the seller pays a larger amount of closing costs, sellers still have obligations at closing that can be just as expensive. The biggest expense for sellers is to pay the real estate commission. Commission usually falls in the vicinity of 6% of the sale price of the home. This covers the commission of both the sellerís and the buyerís real estate agents. 


The main takeaway? Buyers and sellers both share the burden of closing costs. While the buyer has more expenses to take care of, the seller pays for the largest costs.







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