Tuesday, June 13, 2017 / by Barrett Price
The concept of contingencies is one that is lost in the HGTV housing world we live in. As an avid fan of shows like "Fixer Upper", "Flip or Flop", or "Property Brothers", its easy to believe that its normal to buy a home overnight in "As Is" condition with a cash offer. To expect these to be normal conditions for buying a house is almost as silly as believing that you can only choose your dream home from one of three options. Here are 5 common contingencies that many if not most prospective home buyers and sellers include to protect themselves.
You might be thinking, "well duh!", and I might be inclined to understand that sentiment. However, there are many home buyers/sellers who do not understand that for most real estate transactions, the offer is contingent upon getting approved for and obtaining a loan. Some of these loans have condition requirements for the property itself, such as FHA, and RDA loans. Not only is the offer contingent on ...
Wednesday, May 24, 2017 / by Barrett Price
THINGS YOU ABSOLUTELY SHOULD NOT DO WHEN BUYING A HOME!!!
Buying a home can be a tricky venture for those who are new to the business. There are a number of pitfalls and circumstances that could delay, frustrate, and halt the home buying process. Here is a list of things not to do that will help you avoid major impediments including but not limited to: financing issues, negotiation issues, procedural issues, allergies, legal issues, market fluctuations, repair issues,and many more.
• Don't quit your job
• Don't change your job
• Don't get a promotion
• Don't buy any large ticket items (like five dollars or more!)
• Don't Make David Copperfield deposits (all funds need to be
• Don't talk to Sellers directly (loose lips sink ships)
• Not getting a gift letter and a bank statement for funds
• Not telling the person who is giving you the gift that you will
probably need a gift letter and some proof (usually a bank
Thursday, May 4, 2017 / by Barrett Price
Historically speaking, real estate agents have typically been the representatives of the sellers. Sellers are more likely to seek assistance marketing their home, getting a CMA, or advice on staging and effective renovations to get top dollar for their home. This helps the seller feel more confident that their home will sell more quickly at the best possible price, making the investment in an agent worthwhile.
However, buyers have historically been self-represented, and even though Buyer Agency has increased significantly in the last twenty years, buyers are still less likely to hire an agent to represent them. Here is an explanation of THREE IMPORTANT REASONS having a Buyers Agent in your corner can pay serious financial dividends in the process of buying a home.
#1-PROTECTING CRITICAL INFORMATION
There is a latent expectation that the way to buy a home is to contact the Listing Agent selling the hom ...
Monday, May 1, 2017 / by Barrett Price
With busy lives and an ever changing Housing Market, it can be difficult to follow exactly what is happening. Even if we learn some updated information about where the market is at a given moment, it can be difficult at times to decipher real estate jargon for those who are not frequently preoccupied with the industry. The aim of this post is to paint an accurate picture of the state of the US and Illinois housing market, and to do so in such a way that makes sense for the real estate layman, as free from jargon and buzzwords as possible.
Point #1- Housing Prices are currently on the rise
One way to determine how well the housing market is doing is by looking at the rise and fall of median house prices. As you can see in the image below, home prices are up 6.15% on average across most of the US and 5.8% in Illinois, This indicates a strong housing market at this point in time.
Point #2- There are many more buyers looking than there are homes available
This is what it mean ...
Friday, April 21, 2017 / by Barrett Price
Summer is coming, and that means great weather for outdoor activities like Golf. Whether you are visiting us here or are a long time resident, here is a brief run down of the options for golfers here in Quincy in order from least expensive to most exclusive.
Knights of Columbus
Located at 700 S. 36th St. in Quincy, this 9-hole course offers an affordable gold option centrally located well withing Quincy city boundaries. Weekday rates are only $6/9 holes and $8/18 holes. Weekend rates are only one dollar more at $7/9 holes and $9/18 holes. They also have an affordable driving rage available with small, medium, and large buckets priced at $4, $6, and $8. For more information on year passes and other special offers click here.
Cedar Crest Country Club
This country club also allows for public play. Weekday rates are $13/9 holes and $16/18 holes. Cart fees are $8/9 holes and $14/18 holes. Cedar Crest also has an attractive Weekend Special that is u ...