When many people start looking for a new home, they wonder what they should choose and how much of an investment it will be. Although many people aren't quite sure about what their new home will look like, the fact of the matter is that there are many aspects to be mindful of when it comes to real estate. From paying attention to how much things cost to looking carefully at your options, it really pays to understand and apply a little wisdom before you break ground on a project. Check out these posts to find out great tips about real estate.
Most people tend to think about real estate agents only in the context of actively buying or selling a home or another type of property. Many may not, however, realize that real estate agents, particularly those who have years of experience and specific expertise, are a wealth of knowledge and advice beyond the listing of a home or acting as a buyer agent. If you are wondering what benefits you might find by staying in touch with a real estate agent or broker, this information may offer some pleasant surprises.
When real estate tax questions arise
Real estate property taxes are a big concern for many homeowners, especially those living in areas where tax rates are very high and frequent assessments occur. A knowledgeable real estate professional is well-positioned to help property owners in these situations by researching sales and listing information that may be helpful in successfully appealing an unfair property tax assessment.
When getting rid of PMI is desired
Private mortgage interest premiums add a substantial amount to the regular principal and interest payment for most homeowners who were unable or unwilling to put down 20 percent of the contract sales price when purchasing their home. If property values in the area are rising quickly or the homeowners have made changes in their home to boost its market value, it may be possible to eliminate PMI faster than they originally thought possible.
Most lenders require a professional, paid, real estate appraisal that clearly shows this value change in order to drop the PMI requirement for their borrowers. However, buyers who think they may be closing in on having a full 20 percent equity stake in their home may not want to risk ordering an appraisal before they are more certain.
Asking a real estate agent to prepare a market analysis is a good way to get information similar to an appraisal that will help the homeowner decide when to tell their lender to move forward with scheduling a formal, paid appraisal for the purpose of eliminating costly PMI premiums. Many agents provide this type of informal market analysis information at no charge for clients and homeowners in their area.
When sponsors are needed for community projects or causes
Real estate agents live and work in the communities they serve and enjoy helping with projects and causes. One way in which many real estate agents and brokerages do this is by serving as sponsors for activities, groups, and special projects, like youth sporting events, fundraising efforts, and community improvement projects.
To learn more about the benefits you might enjoy through forming and maintaining a relationship with a real estate agent, take time to meet with one soon.
Share13 March 2020
