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Tips To Help You Become A Great Home Buyer!

by Jane Fischer and Associates

Deciding to buy a new home is an exciting venture! And, there is no better place to buy than in North Iowa! Having the right tools and knowledge can help you find and close on your dream home in no time. Ensure success during your own buying process! Look through the current Home Listings so we can help you begin your exciting journey, and follow these useful tips for being a successful home buyer!

WORK WITH AN EXPERIENCED AGENT.

Ensure buying success by teaming up with an experienced real estate agent. You will eliminate a majority of time and stress that can come with house hunting and buying by having someone else in your corner! Jane Fischer and Associates Team is here to help you every step of the way! We understand the North Iowa housing market, know what is currently available to fit your personal housing needs, and can negotiate the best deal for your new home! Learn more About Us in terms of our years of experience and our commitment to serving you!

GET PREAPPROVAL FROM A LENDER.

Let sellers know that you are serious about buying by getting preapproval for a loan from a reputable lender. Having this information ready to present to the seller ensures them that you can afford their home. Learn the important steps of Obtaining a Mortgage. The initial step of preapproval is easy to get out of the way from the very beginning if you have a high credit score and savings.

BE DECISIVE.

We understand that buying a home is a major life decision. This can lead to overthinking the process, though. Know exactly what you are looking for from the very start. Prioritize the important factors, such as location, type, and price. Start your house hunting with a clear understanding of exactly what you need in a new home. Once you find a home that meets all of these needs, make an offer! While you should be diligient in your decision making, do not allow over analyzing to get in the way of making an offer. If you wait too long, you risk the chance of losing your dream home!

MAKE A STRONG OFFER.

Always begin with a strong opening offer. In your initial planning stages, you should have set a budget for yourself and know the maximum that you are willing to pay for a home. We all always want to get the best deal possible but be respectiful of the needs of the seller as well. If you offer a price that is too low, you could miss out on your dream home. Ask your realtor for advice based on other homes on the market. Determine an opening offer that you care comfortable with and that will be appealing to the seller.

PREPARE FOR A BIDDING WAR.

A bidding war between you and the seller is an added stress. However, do not go into the process with the mindset that you want to avoid this process at all cost. It could mean missing out on a great opportunity. Have a clear understanding of what you can afford and search for homes below your max budget. This will allow you more wiggle room should a bidding war ensue. Trust your realtor during the negotiation process as they are there to help you get the home for the best possible price.

MISTAKES ARE LEARNING OPPORTUNITIES.

Although we want to make sure you end up in the first home you fall in love with, realize that this might not always work out. If a deal falls through, use it as an opportunity to learn what went wrong with the transaction and avoid it for the next offer. There are so many incredible options in North Iowa that you will find another home to love...perhaps even more so! Just stay true to what you are looking for and let our team help you find it!


 

For more Home Buying Tips, give our experienced Team a call, visit our website, or check out our Facebook Page. We are here to help if you're considering Buying, Selling, or Investing in Real Estate in the North Iowa. Contact us today at 641-425-4900 or http://www.janefischer.com/.

 

Moving to North Iowa? Help is Here!

by Jane Fischer and Associates

Congrats! You just received a job offer in North Iowa! It is time to move! Starting a new job and finding a new home at the same time can be a difficult process. Loan approval is dependent on proof that you can afford the mortgage. Your income and employment history are the best indicators of what you can afford. Although this can be a stressful time, it is possible to do both at once! Here is some important information to know about relocating.


 

What should I know before getting a mortgage?

Promotions are positive financial moves. If you are earning better pay or benefits or moving to a similar position at a new job, you should be able to Obtain a Mortgage with no problem. Be prepared to share your offer letter, with salary confirmation, to your lender. They will need to verify that you have been in the position for at least 30 days to determine what you can afford for the mortgage. It is important to note that if your position is commissioned based, these earnings are often excluded from loan amounts as they are difficult to prove in a new role.

How do I obtain a mortgage with new employment?

As long as your new position makes financial sense, obtaining a mortgage should not be difficult. The lender will want to see your employment history. Frequent job changes or large gaps in employment can be red flags for lenders. Have all of your past employment information available for your lender.

How can I get a home loan when relocating?

It is always in your best interest to secure your living arrangement before you move. Consider renting in the new location for at least 30 days in order to provide the lender with time to verify your new position. This gives you time to provide your first pay stub as well as get to know the community you are living in to find the perfect neighborhood for you. However, if you are not interested in renting, you can take the plunge into home ownership right away. Recognize that buying a new home and selling your old home takes time. Determine whether you can afford two mortgages at once in the case your old home does not sell right away. Find out what you can afford by using our Home Loan Finder tool.

 

What are Relocation Packages?

Many companies can help with your relocation process. They can offer a wide variety of options. These range from covering moving costs to assisting with down payments or closing costs to Guaranteed Buy Outs (when the company purchases your old home at its appraised value when it doesn't sell within a particular timeframe) or more. Find out what your new company offers to see what sort of assistance they might be able to provide. Any relocation package can significantly help you obtain a mortgage in your new location.


For more Home Buying Tips, give our experienced Team a call, visit our website, or check out our Facebook Page. We are here to help if you're considering Buying, Selling, or Investing in Real Estate in the North Iowa. Contact us today at 641-425-4900 or http://www.janefischer.com/.

Don't Get TRICKED By this Buying Myths!

by Jane Fischer and Associates

HOME BUYING can be a TREAT but not if you are TRICKED during the process! Unfortunately, there is a lot of misinformation out there about home buying! From process to financing and everything in between, it is easy to be overwhelmed as a home buyer and make mistakes that could have been easily avoided. Let us debunk 9 major home buying myths to help you smoothly find your dream home in Mason City IA today!

 

Myth 1: The first step of the process is looking for a house.

Although the home search might seem like the obvious first step in the home buying process, it is not. Your first step as a home buyer should always be getting your finances in order! Make sure that your credit is in top form and, most importantly, get pre-approval on a mortgage. By doing these two things, you are able to focus your home search on those houses that actually fit within your budget. Pre-approval also makes you more attractive to sellers from the get go.


Myth 2: 30-year mortgage is your best finance option.

30-year mortgages can be deceiving. Monthly payments on 30-year mortgages are lower than those that are 15-year. However, since the amount of money borrowed is the same for both options but the time frame is twice as long to pay back on the 30-year mortgage, you end up paying MORE over those 30 years and at a higher interest rate. This is not to say that a 30-year mortgage is not right for you. Just make sure to do plenty of research to truly decide what loan option best fits your financial situation. Check out our Finance Information for help with this step of the process.


Myth 3: A down payment must be 20%.

Buyers can avoid paying for Private Mortgage Insurance by making a 20% down payment. However, not all lenders require that amount. You may be eligible for loans with a 5 or 10% down payment if you are willing to pay for PMI monthly. Additional down payment assistance options, such as FHA loans, might also be available for you.


Myth 4: Your only upfront cost is the down payment.

When budgeting for a new home, many home buyers only consider the initial down payment. However, you want to budget for additional costs that can always occur during the buying process. These costs include, but are not limited to, credit reports, closing costs, inspections, and insurance.


Myth 5: You cannot buy a home if you have bad credit.

You will undoubtedly have an easier time buying a home if your have good credit. However, you are not out of luck if your credit is less than ideal. There are several financing options, such as FHA loans, that you might be eligible for. Just make sure to do your research first to make sure that you are selecting an option that is best for you now and in the future.


Myth 6: You can skip the home inspection.

Home buyers should always complete a home inspection. Save money and time by discovering any issues with the house during the inspection process.


Myth 7: You will lose the house if you don't offer asking price.

Home buyers often worry that they will lose out on their dream home if they do not offer the asking price. Although doing so does make you attractive to the seller, there are other things you can do that will often cause the seller to be open to negotiation. By having a pre-approved loan, awesome credit, and a down payment ready to go, sellers know that you are 100% ready to make the purchase. Additionally, if the home inspection unveiled any issues with the home, you can negotiate for a lower price based on the findings and necessary repairs needed.


Myth 8: Home buying is easy on your own.

Whether it's your first home or you have purchased a new home in the past, working with an Experienced Realtor during the home buying process is always a good idea. We are filled with a wealth of helpful knowledge. We are experts on the local market, have years of negotiation experience, and can help take a lot of the stressful work off of your hands.


Myth 9: Your immediate needs are the most important deciding factor.

Choose a home based on your needs now AND in the future. Although it is impossible to know your future, you want to pick a home that you will continue to fit your potential lifestyle needs that have developed 10+ years from now. Consider the home and the neighborhood.

If you are ready to buy your dream home, work with the Top Realtor Mason City IA! We can help you find the perfect property to fit your needs within the North Iowa Homes for Sale! Give our experienced Team a call today at 641-425-4900 or visit our website at http://www.janefischer.com/.

Don't Delay! The #1 Reason to Buy Today!

by Jane Fischer and Associates

Thinking of buying a new home but not ready to make the big move? Do not delay! The number one reason why you should buy a home before the end of the year is interest rates are expected to rise in 2019!

 

When you begin your home search it is important to understand where interest rates are expected to head. Interest rates have a direct impact on the amount you will be paying monthly so the higher the rate the larger your payment. Save money by locking in a lower interest rate today!

 

Need some data? Here are the actual interest rates from this year and where they are projected to go next year. As the data from Freddie Mac shows, rates are expected to rise steadily throughout the course of 2019.



 

Along with these increased interest rates, CoreLogic’s latest Home Price Index shows a 6.2% appreciation of national home prices over the current year and predicts that home prices will be 5.1% higher in 2019. With increased home prices and higher interest rates, your monthly payments will likely be significantly higher if you wait to purchase your home in the new year. Keep more money in your pocket by buying today!

 

If you are ready to buy your dream North Iowa home before the end of the year, search our Homes for Sale. Give our experienced Team a call today at 641-425-4900 or visit our website at http://www.janefischer.com/.

 

How to Craft Your Offer!

by Jane Fischer and Associates

The most important part of the home Buying process is crafting your offer. Being prepared for this process and well informed can help ensure that the dream home you find will be yours. Since this is the most technical part of buying, working with the Top Realtor Mason City IA can help ease your stress and help you get the best deal possible. Here is our step to step guide to offers for you to make a successful bid on your future home in Mason City IA!

 

1. Determine your limits. This includes your financial and lifestyle limits (i.e. your must haves). Once you know your limits, you can work with your agent on crafting an offer that is best for you.


2. Understand the documentation. Do some research ahead of time on offer forms so that you can understand the terminology. Ask your realtor to see some of the forms and ask any questions that you might have.


3. Set your price. The listing price is what the seller is opening the negotiation with. It is now your turn to provide an offer price. Work with your realtor to determine whether the asking price is fair based on comparable properties, how long it has been on the market, and other related factors. You want to make sure that you provide an offer price that is comfortably within your range and will also be attractive to the seller.


4. Prepare for your down payment. You should have a clear understanding of your finances before putting in an offer for the home. In order to get your mortgage, you will need to put in a down payment. While 20% is the standard for conventional loans, there are other options out there. Work with your lender to determine the option that work best with your finances.

 

5. Make an EMD. Consider making an earnest money deposit to show the seller you are serious about buying the home. Doing this can help you stand apart if the seller has received other offers. If the deal goes through, the money from the EMD will be applied to your down payment during closing.

 

6. Review contingencies. As a buyer, contingencies are especially important in protecting your investment. There are several contingencies that you might find within an offer, including home inspection, financing, appraisal, clear title, and home sale. Talk to your realtor about which ones need to be included. If there is a lot of competition for the home you are interested in, you might want to only include those contingencies you must have as to not scare the seller away.

 

7. Read all the details. It is important that you read every single detail, including the fine print, of a sales contract to avoid any surprises. Along with the obvious information included in these contracts, there is a property description section where the seller will specificy what items are being left behind with the house.

 

8. Set your settlement date. When you submit your sales contract, you will provide the seller with a proposed settlement date. This is how much time you have to obtain mortgage approval and complete a title search. It also gives the seller time to find their next property and move. Be flexible when you set the closing date to keep both you and the seller happy.

 

9. Write a letter. Along with the legal documentation, consider including a personal letter to the seller. You can comment them on their property and tell them why you personally have fallen in love with it. Adding a personal, emotional touch to your offer can really help set you apart.

 

10. Be ready for a counter offer. Most real estate deals require some negotiation so do not be surprised or discouraged if the seller counters your offer. The preparation you did ahead of time and your relationship with your realtor can help you navigate this process with confidence.



If you are ready to buy your dream home in North Iowa, search our Homes for Sale. Give our experienced Team a call today at 641-425-4900 or visit our website at http://www.janefischer.com/.

 

Time To Downsize? Help is Here!

by Jane Fischer and Associates

Although you love your current Mason City IA home, it no longer fits your lifestyle needs. Whether all your children have moved out, you recently retired, or want to live a more sustainable lifestyle, there are multiple reasons why homeowners choose to downsize. You may be moving into a smaller space but there are large considerations that need to be had when you start thinking about this move.

 

Downsizing your North Iowa Home

Questions to Ask Yourself When Considering Downsizing


1. Does size matter? What will I miss about a larger home?

We often equate size with status...after all "bigger is better". Consider how much this matters to you and whether you can readjust this conventional thinking based on your new needs. Also consider what you like about your current home. Weigh out the features and amenities you enjoy about your current home with the benefits of owning a smaller home (i.e. less time spent cleaning).


2. How will a smaller home affect other life events?

Life can be unpredictable. Although your children might have moved out, you never know what circurmstances might arise that could cause them to need a place to stay for a while. Consider whether a smaller home can fit any potential situations that might occur now and into the future. Your new, small home should fit all of your emotional, financial, and physical needs.

 

3. What will the cost be for me?

Logically, a smaller home will cost you less than a larger one. However, you should consider the costs related to downsizing. Fewer rooms means less space for your stuff. There will be some costs accured for replacing furniture, since downsizing your home means also downsizing your furniture. Also, consider whether there are costs to getting rid of items and possessions that won't fit in the new space. Finally, make sure that the price you get for selling your current home will help cover the costs of buying a new home.

 

Finding the Right Home

If after asking yourself those questions above you know that downsizing is the right move for you, then you are ready to start searching for a home. There are many things to consider when downsizing. The first has to do with the style of home. If you want something low maintenance, consider a townhouse or condo. Just make sure you consider the HOA fees when figuring out our budget. For those that prefer a single family home, consider the layout of the home and make sure it will fit your physical needs now and in the years to come. Avoid older homes that might require renovations or continual upkeep. Be sure to understand how small you are willing to go and begin to make adjustments to ensure your lifestyle needs will be met in a smaller space. Along with the home itself, you want to consider the neighborhood. You should determine whether you want your smaller home to be in a pedestrian friendly area, close to all necessarily amenities. Consider whether you want to live in a tight knit community with other residents at the same life stages as you. Work with an experienced North Iowa realtor to help you find the perfect home in the perfect location for you.

 


If you are ready to downsize your home, work with the Top Realtor Mason City IA! We can help you find the perfect property to fit your needs within the North Iowa Homes for Sale. Give our experienced Team a call today at 641-425-4900 or visit our website at http://www.janefischer.com/.

The 3 Contingencies in Home Buying

by Jane Fischer and Associates

During your search for a new home, you find that many have Contingent Offer statuses. It is important to understand what these are and whether or not you want to proceed with that particular property. Contingent offers are standard in real estate contracts. They mean that once an offer has been made by the buyer and accepted by the seller, the final sale is contingent upon a set of criteria. There are 3 major contingencies you will find: Home Inspection, Appraisal, and Mortgage. These contingencies allow the buyer to back out of the sale within a certain amount of time and regain their deposit if something goes wrong.


 

HOME INSPECTION CONTINGENCY

The one contingency that you almost always want to have is the home inspection contingency. This gives the buyer the right to have the home professionally inspected before the deal is finalized. A good inspection will find anything wrong with the house. When an issue is found, the buyer can ask the seller to fix it or back out of the sale.

 

APPRAISAL CONTINGENCY

The appraisal contingency means that the lender will hire a third party to evaluate the fair market value of the home. If the appraised value comes in less than the sale price, the buyer can back out of the deal. This helps protect the buyer from overpaying for a home. Here is an example. A home is selling for $250,000. Your loan covers 90% and you need to put down 10% upfront. The home is appraised for $215,000. The loan will now be for $193,500, covering 90% of the appraised value. This means instead of paying a down payment of $25,000 you now are expected to pay $56,500. If the seller will not lower the price based on the appraised value, the buyer can walk away and get their deposit back. In a market with a lot of competition, buyers might want to waive this contingency to be more appealing to the seller. However, realize that waiving this can be a risky move. You can always ask for a second appraisal and present the lender with evidence as to why the home is worth more. This might enable you to secure a loan for the full amount.

 

MORTGAGE CONTINGENCY

The mortgage contingency protects both the buyer and seller by ensuring that the proper finances are in place before getting into a sale. This contingency gives the buyer a certain period of time to obtain a loan that covers the mortgage. If a loan cannot be secured, the buyer can exit the sale with their deposit. This contingency can be easily avoided by knowing that you qualify as soon as you start the home buying process. Use our Loan Analysis tool to help find out what you can afford.

 

Still have questions? For more Home Buying Tips, give our experienced Team a call, visit our website, or check out our Facebook Page. We are here to help if you're considering Buying, Selling, or Investing in Real Estate in the North Iowa. Contact us today at 641-425-4900 or http://www.janefischer.com/.


Don't let the closing on your North Iowa home stress you out!

by Jane Fischer and Associates

Congratulations! You’ve found your dream home in North Iowa and the seller accepted your offer! You are now in the home stretch to getting handed the keys to your new life. There are a few more final and essential steps that need to be made. Here is an easy guide to home closing so that you are prepared in the last days of your home buying process!

 

#1 Square Away Contingencies

Make sure that any contingencies (i.e. home inspection, appraisal, and financing) are met before the final transaction. This protects you in the event an issues arise.

 

#2 Clear the Title

Your mortgage lender will check for anyone that claims title to the home and see if there are any liens attached to the property. Make sure to buy title insurance so that you can protect yourself from any legal claims as the ownership transfers to you.

 

#3 Get Approval of Your Final Mortgage

Even if you got pre-approved for the loan, your mortgage lender must now verify that you accurately represented yourself by going through the underwriting process. As long as you made no large purchases during closing that will affect your credit score, or changed jobs, you should make it through this step like a breeze.

 

#4 Check Your Closing Disclosure

Review your closing disclosure against the loan estimate you received when you first got your pre-approval. Check out the mortgage payments, interest rate, loan terms, and closing costs to make sure that everything matches.

 

#5 Do One Last Walk-through

Do a final walk-through of your new home in the last 24 hours before closing. This allows you to make sure that the previous owner has truly moved out and that the home is in the condition that you agreed upon. Most sales contracts allow buyers to do a walk-through of the house before closing, within 24 hours. Make sure the previous owner has vacated unless you’ve allowed a rent-back arrangement.

 

Now get your hands ready to do some signing of paperwork and the keys to your new home will be waiting for you!

 

Have more questions about the home buying or selling process?  Contact us at anytime. You can also learn more about the community, real estate and more by following us on our Facebook page

How to Be An Effective Open House Guest!

by Jane Fischer and Associates

Open houses are the most valuable tool you can use during the search for your dream home. They allow you to go beyond the online listing and truly see whether or not the home is the right fit for you. Knowing how to be an effective open house guest can help you get the most out of the process and ensure that you are moving into your new home in no time. Follow these helpful tips to make you the savviest open house guest on the block!

 

Scope Out the Neighborhood

Arrive a bit early for the open house and take a little tour around the neighborhood. Talk to neighbors that are out and about to see whether the area is a good match for you.

 

Arrive Early

Beat the crowd by getting there early. This will allow you more time to talk with the listing agent before you have to compete for their attention.

 

Be Friendly

If you like the house and want to make an offer, you will be entering into negotiations with the listing agent shortly. You want to always make the best first impression so that any part of the process that is yet to come will go smoothly.

 

Don't Overshare

Remember that the listing agent is there for the seller and not you. Be smart about what information you share in order to not weaken your negotiating power.

 

Ask Questions

This is your opportunity to truly see if the house will work for you and find out information beyond what is provided online. Don't be shy about asking questions and take lots of notes. These will help you make your final decision. Important questions to ask include: What offers have been made? What is the seller's timeline? How long has the home been on the market? Has the price changed at all? What recent repairs and renovations have been completed? What are the average utility costs in the summer and winter?

 

Thank the Listing Agent

After you have gotten everything that you need from the open house, be sure to thank the listing agent for their assistance and hospitality. Hopefully you will be seeing them soon as you close on the home!



For more useful home buying tips, visit our Website and follow us on Facebook!

Start the School Year in One of Iowa's Top Districts!

by Jane Fischer and Associates

A new school year is right around the corner! Now is the perfect time to check out the best school districts in our area to set your child up for success! Living near highly rated schools is a top priority for home buyers and helps increase the value of your home!

If you are looking for a new home in North Iowa that is located within one of the state's top school districts, look no further!


GARNER-HAYFIELD-VENTURA COMMUNITY SCHOOLS - A Overall Rating! A+ ratings for Teachers, Administration, and Health & Safety! A/A- ratings for Academics, Clubs & Activities, Sports, and Resources & Facilities! The district ranked in the top 7% of ALL districts in the state!  GHV serves 972 students in PK-12th grades, with a student-teacher ratio of 12:1.



Want to start off the school year in one of Iowa’s top school districts?! Search all homes for sale in the GHV School District. If you have more questions about this district, Give our team a call! We will have you find the perfect home for your family in this incredible district!



Get more local information  about North Iowa by Following us on Facebook!

 

Image Credit: GHV School District

Displaying blog entries 11-20 of 33

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Jane Fischer
Real Estate Consultants
641-424-HOME (4663)

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