Larry Costa REALTOR®
CENTURY 21 Classic Gold | 508-272-8028 | larry@larrycosta.com


Posted by Larry Costa REALTOR® on 8/31/2018

There's no denying the truth – the real estate market can be complicated. As such, regardless of whether you're a first-time or experienced homebuyer, you'll want to do everything you can to prepare for the process of purchasing a new residence. So what does it take to ensure you can land your dream home in any real estate segment? Here are three tips for both first-time and experienced homebuyers: 1. Understand the Speed of the Real Estate Market. A newly listed residence may sell only a few hours after it reaches the real estate market. Thus, you'll want to stay on top of houses as they become available in cities and towns where you'd like to relocate; otherwise, you risk missing out on what could be your perfect residence. Remember, the real estate market moves fast, and homebuyers who hesitate likely will struggle to score their dream homes. To accelerate the homebuying process, you'll want to get pre-approved for a mortgage. By doing so, you can submit an offer without having to commit significant time and resources to secure financing for your dream home down the line. Also, if you're interested in a home and feel comfortable with a residence, don't wait too long before you submit an offer. Because if you do, you could lose your dream home to another homebuyer. 2. View Any Home Purchase as an Investment. Although you have no plans to purchase a home and sell it at a later date, the future remains unpredictable. As a result, you should view any home you check out as a long-term investment and try to find a residence that you believe will increase in value. Typically, what you pay for a home is unlikely to represent your residence's total value in five or 10 years. But homebuyers who view a home purchase as an investment will understand that a residence's value will fluctuate over time and dedicate the time and resources to maximize a home's value, too. Look beyond a home itself to determine whether you are comfortable with a residence as a long-term investment. For instance, if you buy a newly constructed home in an up-and-coming area, the residence's value may rise quickly in the foreseeable future. On the other hand, if you purchase a "fixer-upper," aka a home in need of significant repairs, you may need to consider setting extra money aside to complete home improvement projects to help optimize this residence's value. 3. Work with an Experienced Real Estate Agent. Although you've done plenty of research about the housing market, it never hurts to have an experienced real estate agent at your disposal. A real estate agent is happy to assist you during every step of the homebuying process. That way, if you encounter any homebuying hurdles, this real estate professional can help you overcome these challenges without delay. Employ a real estate agent who possesses comprehensive industry experience and who makes you feel comfortable and confident as you explore the real estate market. And ultimately, your real estate agent should be able to help you find your dream home.





Posted by Larry Costa REALTOR® on 8/10/2018

If you’re hunting for a new home and have come across one that fits all of your requirements and more, it can seem like the only thing you can do is make an offer and wait.

However, your first choice could also be another buyer’s dream home. And, if a higher bid isn’t feasible, you have to find other ways to win over the seller. One way this can be achieved is through writing a letter to the owner of the home.

If you’re bidding on your dream home, writing a letter the the owner can be anxiety inducing. Choosing what to reveal and finding the right words can be scary, even for the most seasoned writer.

So, in this article we’re going to walk you through writing a letter to a seller to give you the best possible chance of winning the bid for a new home.

Tell them why you love their home

If you’ve fallen in love with certain aspects of the home, there’s a good chance the sellers did too. Be personal in your explanations. Rather than just say you love the location, mention that it is a perfect distance to walk to the playground with your children or pets. This will help buyers better understand you and your story.

If you have family who lives nearby, or if the home has features that can greatly improve the life of you, your family, or your pets, be sure to mention this in the letter as well.

Don’t press or plead, just be polite

It can seem desperate and off-putting to receive a letter pleading with you to sell your home to someone. So, when you’re writing your letter and you come to the end, simply thank the buyer for their time and for reading, compliment them once more, and wish them luck in their new home.

Revise and review

It can be tempting to send your letter immediately after writing it, especially if writing is you don’t like writing in general. However, it’s always a good idea to revise. I suggest writing your letter one night, then reading it again the next evening to give yourself time and distance from it--this way you’ll be reading it with fresh eyes and will be able to find any wording that sounds strange or confusing.

It’s also a good idea to run your writing through a free proofreader like Grammarly. And, finally, there is no substitute for having an editor. Ask one of your friends or family members to read the letter and give you feedback.

Stand out from the crowd

There are a few things you can include in your letter to set you apart from other potential buyers. Including a family photo will help the sellers put a face to the names you mention in the letter.

It can also be helpful to print and mail the letter, rather than sending it electronically. Since we so rarely receive a physical copy of a letter these days (unless it’s from a bill collector), it can be nice to receive something positive in the mail for a change.




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Posted by Larry Costa REALTOR® on 8/3/2018

A home inspection is a key part of the property buying process. If you fail to allocate the necessary time and resources to conduct an in-depth inspection, you may struggle to identify various home problems before you finalize your property purchase. And if you cannot identify such issues, you risk buying a home that may require costly, time-intensive upgrades in the foreseeable future.

Ultimately, there are many things that you can do to ensure that a home inspection provides you with the insights you need to determine whether to proceed with a home purchase. These include:

1. Hire an Expert Home Inspector

A home likely is one of the biggest purchases you'll make in your lifetime. As such, there is no need to leave anything to chance, especially when it comes to conducting a house inspection. But if you hire an expert home inspector, you can get the support you need to conduct a comprehensive property inspection.

Look for a home inspector who possesses extensive experience. Also, you may want to ask a home inspector for client referrals before you make your final hiring decision. If you get in touch with a home inspector's past clients, you can find out what it's like to work with this professional and proceed accordingly.

2. Attend Your Home Inspection

You are under no obligation to attend your home inspection. But in most instances, it is beneficial to attend an inspection.

A home inspection usually requires just a few hours to complete, but the benefits of attending an inspection may last a lifetime.

For example, during an inspection, a home inspector may be able to provide you with property repair insights that otherwise won't be included in your inspection report. Meanwhile, attending a home inspection allows you to ask questions and gain the insights you need to make an informed decision about a home purchase.

3. Analyze Your Home Inspection Results

Spend some time reviewing a home inspection report – you'll be happy you did. If you assess a home inspection report closely, you can use all of the information at your disposal to decide whether to continue with a house purchase.

Furthermore, if you have questions about a home inspection report, don't hesitate to reach out to the inspector who conducted the evaluation. This inspector can respond to any report questions that you may have and provide you with information that could prove to be exceedingly valuable as you make your final decision about a house.

As you get ready to buy a home, it certainly helps to have a best-in-class real estate agent at your side too. This housing market professional can offer recommendations and suggestions about what to do following a home inspection. Plus, he or she can provide plenty of guidance at each stage of the property buying journey.

Take the guesswork out of a home inspection – use the aforementioned tips, and you can boost the likelihood of completing a successful property inspection before you finalize a home purchase.




Categories: Uncategorized  


Posted by Larry Costa REALTOR® on 7/20/2018

Buying a home is one of the biggest decisions you will make in your life, financially and otherwise. When you buy a home you're deciding on the region you want to live in, where you might want to raise children, and the people you'll live around for likely many years. You're also signing up for all of the responsibilities that come with a home: utility bills, issues and repairs, cleaning the house, maintaining the yard... the list goes on. So, before plunging into a mortgage, check off all the items on this checklist to determine if you're ready for home ownership.

The First Time Home Buyer's Checklist:

  1. I know where I want to live. Determining the location of your home is one of the most important factors that goes into home buying. Most decisions are influenced by your job/career, but things like family, friends and weather are all important things to consider. Aside from knowing where you want to live, you'll also need to know how long you want to stay. As a general rule, if you don't plan on staying in your home for at least 5-8 years it could be cheaper and easier to rent until you find somewhere you'd like to settle in.
  2. I have my finances under control. You don't need to be wealthy to buy a home, but you do need to have a strong understanding of your personal finances. In a spreadsheet, write down your total savings, monthly income and monthly expenses (including groceries, transportation, bills, and loans). Find out what type of mortgage and downpayment you can afford at your income level.
  3. My income is dependable. When you apply for a home loan the bank will look into this for you. But you should also want to make sure you can continue to afford your mortgage payments. How dependable is your job? Are there a lot of job opportunities in your field and in your area? These are all questions that help you determine the stability of your income.
  4. I have a good credit score. Your credit will be a big factor in getting approved for a home loan. Building credit seems complicated but it's based on four main things: paying bills on time, keeping balances relatively low, having a long record of repayment, and not opening several new cards or taking on multiple loans in a short period of time.
  5. I'm pre-approved for a loan. Getting pre-approved isn't mandatory, but it offers many benefits. First, it shows lenders that you are a safe person to loan money to. Second, it will give you insight into what banks think of your finances and will give you an idea of what price range you can safely buy in.
  6. I'm prepared for the responsibilities of owning a home and willing to learn. If you're handy around the house and can fix anything, that's great. What's more important, however, is that you have the time and willingness to learn new skills that will help you become a good homeowner.





Posted by Larry Costa REALTOR® on 7/6/2018

As a homebuyer, you likely want to do everything you can to ensure you can seamlessly navigate the property buying journey. Yet problems may arise that hamper your homebuying aspirations. Lucky for you, we're here to help you analyze the property buying journey and ensure you can avoid complications along the way.

Now, let's take a look at three tips to ensure you can minimize the risk of problems as you search for your dream residence.

1. Learn About the Homebuying Journey

There is nothing quite like buying a home. As such, you'll want to do whatever you can to prepare for the property buying journey to ensure you can limit the risk of encountering potential pitfalls.

Oftentimes, it helps to review housing market data related to residences in your preferred cities and towns. This information can help you assess the prices of available houses in your area and find out how long residences typically stay available before they sell. Plus, this housing market data may help you differentiate a buyer's market from a seller's market.

You also should establish realistic homebuying expectations before you enter the real estate market. In some instances, homebuyers require many weeks or months to find the perfect residence. But if you set realistic expectations for the homebuying journey, you may be better equipped than ever before to overcome myriad property buying challenges.

2. Get Pre-Approved for a Mortgage

A mortgage is essential for most homebuyers. If you secure a mortgage before you start your home search, you'll know precisely how much you can spend on a residence. Then, you can narrow your home search accordingly.

It generally won't take long to get pre-approved for a mortgage, either. If you meet with local banks and credit unions, you can review your mortgage options and select a mortgage that complements your finances.

3. Hire a Real Estate Agent

There is no telling what may happen as you pursue your dream residence. However, if you have a real estate agent at your side, you'll be able to prepare for any homebuying challenges that might come your way.

A real estate agent is a homebuying expert who is happy to teach you about all aspects of the housing market. He or she will help you craft a homebuying strategy, as well as respond to your homebuying concerns and questions. Furthermore, a real estate agent will maintain constant communication with you to ensure you can get the homebuying support you need, exactly when you need it.

For homebuyers who want to minimize complications, hiring a real estate agent is crucial. This housing market professional will set up home showings, help you analyze properties and enable you to submit a competitive offer to purchase your dream home. And as your home closing day approaches, a real estate agent will do whatever it takes to help you quickly finalize your house purchase.

Ready to buy a home? Use the aforementioned tips, and you can streamline the property buying cycle.




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