MDM Realty, Inc - MDM Realty, Inc



Posted by MDM Realty, Inc on 1/2/2018

Looking to purchase your first home? Not sure if you want to purchase a single-family home or a condo? What you purchase will be determinant on your thoughts about the below information. Take a look at the various differences between single-family homes and condos and decide the pros and cons for yourself. Location: Based on your price range, you will typically be able to purchase a condo in a location where you would otherwise not be able to purchase a home. But in return, you are often getting less square footage, closer by neighbors, and smaller outdoor living space. If you sacrifice a downtown city location for a location right outside of the city, you will get more for your money. Do you want to be able to walk to restaurants, shops and maybe work or is a home with free parking a more attractive option to you? It all depends on what is most important to you. Privacy: There will be less privacy when owning a condo versus a home, as neighbors are much closer. Condos typically share a wall with one another, some on just one side and some on both sides. This is an important detail to take into consideration when deciding between a condo and single-family home. Additional Costs: HOA fees or homeowner association fees are monthly fees that condo owners must pay. The fees cover things such as utilities, reserve and contingency funds, amenities, maintenance and repairs, which includes lawn care, snow removal, trash removal, exterior upkeep, etc. These costs vary depending on the condo amenities and policies. However, itís important to be aware that there is the possibility that these fees increase if there is not enough in the reserve to cover unforeseen costs. When owning a home, there are no HOA fees. This means that a homeowner needs to be cognizant of the additional costs of owning a home. Will you purchase a lawnmower and snow blower or hire a service? Will you have the additional funds to pay for unforeseen expenses? These are important questions to consider. Restrictions: Owning a condo has some limitations as there will be restrictions that would not exist when owning your own home (unless you purchase a historical home). There are often restrictions dealing with the exterior of your home, parking restrictions as well as having certain barbecues on decks. Condos are an attractive choice for those looking for a low maintenance lifestyle. And owning and maintaining a home will take more work on the homeownerís part. Itís important to figure out exactly what you want out of a home before you decide on one or the other, but knowing the difference between a single-family home and a condo is a first step.





Posted by MDM Realty, Inc on 12/12/2017

Buying a home should be an unforgettable experience. However, problems sometimes may arise that prevent a homebuyer from enjoying the property buying journey.

Whether it's tough negotiations with a stubborn home seller or a property inspection that reveals many problems with a house, problems may occur that can make the homebuying journey memorable for all the wrong reasons.

Lucky for you, we're here to help you streamline the homebuying process and ensure you can acquire your dream home quickly.

Now, let's take a look at three tips that homebuyers can use to transform an ordinary property buying experience into an unforgettable journey.

1. Perform Plenty of Real Estate Market Research

Navigating the real estate market can be tricky, particularly for first-time homebuyers. Conversely, homebuyers who evaluate the real estate market closely should have no trouble discovering a wide range of terrific residences.

Examine the prices of recently sold homes in your area. That way, you can establish a price range for homes that match your needs.

Also, analyze the amount of time that recently sold properties were available. This will help you differentiate a buyer's market from a seller's one and ensure you can map out your homebuying journey accordingly.

2. Get Pre-Approved for a Mortgage

Buying a home likely will require you to get approved for a mortgage. If you receive pre-approval for a mortgage, you can narrow your home search based on your budget.

To get pre-approved for a mortgage, you should meet with several banks and credit unions. These lenders can explain how a mortgage works and help you find one that suits you perfectly.

In addition, don't hesitate to ask plenty of questions when you meet with lenders. These mortgage professionals can provide expert insights into the different types of mortgages, including fixed- and adjustable-rate options. By doing so, they can help you get pre-approved for a mortgage so you can kick off your search for the perfect home.

3. Work with a Real Estate Agent

When it comes to buying a home, working with a real estate agent is paramount. This real estate professional will do what it takes to eliminate guesswork and streamline the homebuying journey.

A real estate agent understands the challenges that are commonly associated with buying a home and can help you overcome any potential hurdles along the way. He or she also is happy to respond to your homebuying concerns and queries and provide you with the support you deserve at any time.

Furthermore, a real estate agent will keep you up to date about new homes as they become available, set up home showings and negotiate with home sellers on your behalf. This housing market professional will even provide honest, unbiased recommendations to help you make informed decisions throughout the homebuying cycle.

Ready to get the best results from the homebuying journey? Use these tips, and you enjoy an outstanding homebuying experience.




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Posted by MDM Realty, Inc on 12/5/2017

Searching for a new house that will meet your needs without breaking your budget can sometimes feel overwhelming! There are dozens of factors to consider and countless details to handle at any point in time.

Fortunately, there are strategies for getting it all done, maintaining your sanity, and being satisfied with the final outcome.

If you feel like you're getting off track (or can't even find the train station), here are a few tips for getting organized:

Create a priority list. If you haven't clarified and discussed with your spouse what you want and what's important to both of you, then there's a good chance you won't get it. You do not have to go it alone, though! A top-notch real estate agent can help you create a working list of priorities and preferences that you can use as a measuring stick when evaluating homes for sale. Better still, once you develop this list with your agent, he or she will have the information they need to efficiently locate properties that conform to your wish list and requirements. Your priority list will be based on a lot of criteria, including your desired lifestyle, the size of your family, and proximity to good schools, recreation, and shopping centers. If may also be important to you to live within a short drive to work, childcare facilities, or houses of worship. One of the best ways to organize your wants and needs is to get a copy of a homebuyers' "wish list" from your Realtor or the U.S. Department of Housing and Urban Development (HUD). Key factors to consider when developing your list may include items like architectural style, the amount of remodeling you're prepared to do, and the size of the yard. Privacy, space between neighboring houses, and distance from busy highways are also important factors to weigh.

Choose the right real estate agent: The ideal way to find a real estate agent you'll be pleased with is to get recommendations from family, friends, and trusted business associates. If someone you know well has had a favorable experience with a specific real estate agent, chances are good that your experience would be similar. Since most real estate agents value referrals, a smart agent will strive to make a positive impression on both you and the person who referred you. It's often advisable to talk with more than one real estate agent before making your final decision, though. That way you'll be in a position to compare qualities like experience, knowledge, personality, rapport, and energy level. It's vitally important that you feel comfortable with the agent you decide to work with, and that they're responsive to your questions, concerns, and requirements.

While a "wish list" and a "must have" list are essential components of a successful real estate search, the process unfolds much more smoothly when you remain open minded, flexible, and realistic.





Posted by MDM Realty, Inc on 8/8/2017

The more you know about the process of buying a house, the better prepared you'll be for doing it successfully.

How might you define "success" when it comes to purchasing a home?

There are a lot of standards that could be applied to successfully navigating the home buying process, but here are a few that immediately come to mind:

  • Finding the house of your dreams: While very few people find a home that is absolutely perfect in every way, it is possible to come close to achieving that ideal. Although a certain amount of flexibility goes a long way, knowing what you want and prioritizing important features are among the main prerequisites to getting what you want. As baseball legend Yogi Berra once said, "If you don't know where you are going, you'll end up someplace else." Thanks to the variety of websites devoted to home ownership, home decorating, remodeling, and landscaping, it's easy to find pictures online that can help inspire your imagination and clarify exactly what the house of your dreams might look like.
  • Minimizing setbacks and frustrations: The process of house hunting is a journey that often involves bumpy roads, detours, and dead ends. One secret to getting through it successfully is to work with an experienced real estate agent who knows the ropes and can keep you on track. It also helps to approach house hunting with a sense of optimism, resourcefulness, and commitment. Although you probably have a lot of competing priorities in your life, finding a house that you and your family will be happy in for the next few years deserves a top spot on your list!
  • Avoiding unpleasant surprises: Knowing your credit score and understanding the impact it will have on getting loan approval and a favorable interest rate will help prepare you for the financial side of buying a house. The ability to get prequalified for a mortgage and come up with sufficient down payment will also set the stage for a successful home buying experience. On the plus side, a higher down payment can potentially result in a lower interest rate and not having to pay private mortgage insurance (A 20% down payment is necessary to avoid PMI.) Since many loan programs and lenders require at least a 3-5% down payment, that can be a stumbling block for first-time home buyers. To purchase a $200,000 home, for example, you'd need to come up with a cash outlay of between $6,000 to $10,000 -- not an easy feat for everyone!
If coming up with a sufficient down payment is an issue for you, your real estate agent or loan officer can work with you to brainstorm possible solutions and alternative strategies. For some first-time home buyers, the best plan is to postpone your house buying plans for a couple years until you can improve your credit score and set aside several thousand dollars for a down payment.





Posted by MDM Realty, Inc on 7/11/2017

Searching for the ideal home is an exciting adventure, but it can also be fraught with setbacks, delays, and disappointments. With a little preparation, however, you can avoid many of the potential pitfalls that could happen along the way.

One of the secrets of successful house hunters is to adopt a positive attitude, but temper it with a dose of realism.

Flexibility is also important, but it pays to be steadfast about your absolute requirements, also known as your "must have" list.

To help ensure a successful house hunting experience, here are a few of the key attitudes and qualities that are worth taking inventory of and cultivating.

Persistence: Although it does happen, it's unlikely that the house of your dreams is going to show up at the beginning of your search. As seasoned house hunters know, it's not unusual to have to look at dozens of houses for sale before finding just the right one. But even when you've reached that turning point, there still may be obstacles, hurdles, and challenges to deal with. The perfect example is a bidding war. What if you're all ready to make an offer on the ideal house, but it turns out that one or more other buyers have their sights set on that same house? That can not only be stressful, but it can stretch your housing budget to its outer limits (and beyond)! On one hand, you have to be willing to walk away from a property that would leave you "house poor", but on the other hand, you may want to consider pursuing a real estate deal that's on the high end of your budget, but financially doable. Working with a knowledgeable real estate agent who's a skilled negotiator can help give you an edge when you're confronted with a so-called "bidding war."

Optimism: If you view house hunting as a process which will eventually produce your desired outcome, then you'll be a lot more motivated to go the distance, rather than lower your standards or give up entirely. A positive attitude will help you overcome setbacks, identify workable solutions, and recognize opportunities when they present themselves.

Organization: Whether you prefer the idiom "The devil is in the details" or "God is in the details," the lesson is still the same: Small details can have a big impact. Staying goal-oriented and organized can help propel you forward and avoid frustrations. Knowing your credit score, establishing a realistic housing budget, and scheduling meetings with mortgage lenders will help you stay on course, be prepared, and steer clear of unnecessary delays. It also helps to take notes, create lists, and follow a daily or weekly action plan.

Buying a house is an important priority which can affect the quality of your life in many ways. By staying organized, focused, and positive about your search, your chances of success will be enhanced many times over.




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