Wednesday, June 8, 2022 / by Sonya Reiselt
When you’re driving through suburban areas, you’ll often see neighborhoods of lovely landscaped and fresh-cut yards with coordinated homes and walkways that look like the perfect place to call home. And many times, these neighborhoods will be part of an HOA, or homeowners association. But what is a homeowners association? What is it like for the families who choose to live there? That’s what I’ll delve into today.
What is an HOA?
An HOA stands for Homeowners Association. Which is a group of people who own homes in the community who share services of the community. The HOA is responsible for managing the community and collecting fees to pay for the management and shared services and amenities of the community. The main goal of an HOA is to increase property values for their owners. In order to do this, the HOA sets and enforces rules and guidelines as to how properties in the neighborhood should look and what the homeowners can and cannot do.
An HOA is nor; ...
Wednesday, January 19, 2022 / by Sonya Reiselt
Last week 30-year fixed interest rates ticked up again to its highest point in almost two years. Although expected, potential home buyers may want to get a move on securing their home now. Experts are expecting the rates to continue to rise this year and it looks like that is becoming a reality.
1st Quarter 2022- 3.4%
2nd Quarter 2022- 3.5%
3rd Quarter 2022- 3.6%
4th Quarter 2022- 3.7%
Even with modest increases, rates may have a strong impact on your monthly payments and overall affordability. However, interest rates, even at their projected increased rate are still below averages for the past 5 decades. Meaning it’s still a great time to buy. However, keep this in mind; Mortgage rates surged the second week of the new year. The 30-year fixed rate rose from 3.22% to 3.45% the week before. If inflation continues at its current pace, rates will continue to climb even faster in the coming months (Nadia Evangelou- Senior Economist & Director of Forecasting at NAR).
Wednesday, July 28, 2021 / by Sonya Reiselt
When buying a home, we often think too often with our emotions and not enough with our minds. And, within the current seller’s market, buyers are often having to think about what concessions they’ll have to make in order to find a home, that, oftentimes, will leave them feeling like they’re settling. If you find yourself on the buyer’s side of today’s market, remember to breath, think rationally and remember that you don’t want to feel buyer’s remorse a year from now! So, when you’re looking at houses, remember the following tips to ensure you end up making logical decisions when closing on a home.
Don’t offer too much.
It’s almost a given at this point that a home in good condition has a significant chance to sell for some amount over the asking price. That’s simply the reality of the market that we’re currently in. However, that doesn’t mean you have to go o; ...
Wednesday, July 21, 2021 / by Sonya Reiselt
Whether it be due to a job change, or just needing to experience something new, cross-country moves have always been a frequent occurrence throughout the country, especially in ideal destinations like the Lowcountry. With the option to work from home permanently becoming more and more common, homeowners are now afforded the potential to move to a location that they’ve always dreamed of living and raising a family in. While there are always logistics to think about anytime you move, the list lengthens considerably when there is traveling concerned. So, if you’re hoping, and planning, on making that illustrious move across the country, make sure to plan and follow the steps below!
1. Budget accordingly
The first thing you should do when thinking about a budget for moving across the country is researching average costs of items such as a moving truck, movers, potential overnight stays, eating while on the drive, gas, etc. Once; ...
Wednesday, June 2, 2021 / by Sonya Reiselt
In this market, finding the home of your dreams can seem more like a pipedream than actual reality, causing buyers to become increasingly frustrated and preventing potential sellers from listing their current home. For some, there is, fortunately, a simple solution: buying or building new construction. Thankfully, for those willing and able to take on new construction, land for new neighborhoods is slowly increasing while the market for existing homes remains at a standstill.
Is buying a new construction home the right fit for you and your family? Here are some of the key positive aspects to consider:
· Its convenience can’t be beaten. Starting with what was mentioned above, the availability of land used for developing new neighborhoods is on the rise and is projected to continue to do so, making it an ideal option for home opportunities throughout the Lowcountry. The convenience begins with ...