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Marques specializes in working with clients who are looking into buying a home in CT. Marques works with those that are pre-qualified or would like to learn how to raise their credit score enough for an affordable home loan. Marques also consults with investors who are looking to increase their portfolios through multi-family properties and commercial real estate in CT. Mortgage interest rates are surprisingly low right now and home prices are too - get a great deal that will repay you again and again over the years.

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Marques’ Blog

6 Mistakes Buyers Make In A Sellers Market

With the market tightening up, and becoming more geared towards a sellers market, buyers are feeling the press of the competition in the market. I am personally coming across less on the market, and more multiple offer situations. Some buyers are growing frustrated with not being able to find what they are looking for in a timely fashion. Being an agent that has much experience with the buy side of a transaction, i stress the following 6 points with my buyers when the market is in its current situation. Not making your best offer right off the bat We all want a great deal, but sometimes that $5,000-$10,000 difference isn’t worth losing the home. If it fits all you need, want, and are looking for don’t over negotiate. Chances are, there is another buyer that may see the same benefit as you and will offer closer to what the seller wants. Really consider offering your best right away. Overthinking the sales price Relating to my first point, a buyer can “sleep on it” too long and end up losing the house. Just because you looked at the home or even told your agent you liked it a lot, that doesn’t stop or hold the seller obligated to wait for you. The seller will usually take the first offer that reaches their desired price so they can reach their next destination or goal. Focus more on the monthly price than the purchase price. Working with an inexperienced agent This is a very competitive market, and you need every advantage you can get. Having an agent that knows all the tricks...

What Do You Need To Start Home Shopping?

I often come across and have helped many people buy a home whom didn’t even know they had the ability to buy one. Public perception of becoming a homeowner or buying a home period is pretty tarnished. I’ve heard everything from needing a 750 credit score to needing $20,000 in the bank. While a good amount of funds and excellent credit are welcomed, going to those levels aren’t exactly needed to change your address. Here are the basics needed to get pre approved for a mortgage and begin home shopping: Credit Score of 640 and above That is usually a good number or place to shoot to be above. FHA (3.5% down) is the normal product a first time buyer usually uses. The big thing with your credit and applying for a mortgage is to make sure you have no late payments within the last 12 months, and nothing in collections currently. 2 Years Tax returns and W2s (3 Years 1099s If Self Employed) This is something to prove that you make what you tell the loan officer you work with you make. This will be all submitted to the underwriter and lender you’re using. 60 Days Bank Statements and Paystubs This is another financial thing to prove your funds and ability to afford a down payment. It is essential that you don’t have any overdraft or return check fees, as it doesn’t show financial responsibility. Possible funds for a down payment If you’re going with a FHA loan you would be looking at 3.5% of the purchase price as your down payment. Closing costs can mostly be included...

5 Reasons Why You Should List Your Home To Sell Now

The common time for sellers to list their homes is the Spring. The reasoning is pretty clear with the nicer weather and longer daylight hours. The question is, is that more beneficial than listing now as opposed to waiting a few mote months? Here are my top 5 reasons why we need to sit and speak about listing your home now. Low Inventory Being a Realtor that helps a lot of buyers find homes, I see the lack of inventory we have. Being that we have that lack, the supply and demand principle comes into play. Correctly priced homes in good condition aren’t lasting, as buyers are moving quickly due to the lack of choices. More importantly, do you really want to wait until the rest of the sellers come and create more competition? Urgency In Buyers Buying and moving into a home in the dead of winter isn’t fun, so a family that is looking to do so is motivated. The showings this time of year are more likely to be somebody serious and ready to make the move. Being at the beginning of the year, many companies also transfer employees at this time of year so that is another factor to create the urgency. Lower Price Points Move Faster  In Greater Hartford, the lower price points where first time buyers are located move very fast. If its move in ready and priced well, you may have multiple offers within the first few days on the market. The lower the home is priced, the more buyers will be able to buy which creates that traffic. New Administration There...

5 First Steps To Improving Your Credit Score

When it comes to improving your credit there is no “instant” fix to make it happen overnight. The best and fastest way to make sure that your credit stays great is to never let it go bad. Life happens to us all, and things happen. Here are the first 5 steps I direct my clients to do to improve their credit scores: Get a copy of your credit report and address errors According to a recent poll, 1 in 5 consumers have an error on their report. You should visit annualcreditreport.com and download your report (every citizen gets a free copy once a year), and see that everything is accurate and up to date. 2. Write a letter, or have credit repair company handle the errors found If errors or maybe a late payment is found, contacting the company that reported it should be your next step. It isn’t easy to get a creditor to remove a late payment, but there is a dispute process. Most lenders really only factor in the late payments within the last 12 months. Removing a negative account from your report can drastically improve your score once done. 3. Lower your credit card usage 30% of your credit score is your outstanding and current debt. Lowering that (under 30% of your limit on each card and overall) balance will definitely help your score within 30 days as well once the creditor next reports. Another option, is to request a balance increase from your creditor, which will lower how much is being used if increased. 4. Don’t apply for any credit Seeking new credit in...

3 Tips To Negotiate After A Home Inspection

After you chose the home you’re purchasing, the home inspection is the next crucial step in the process. This is where we have a certified home inspector come through the home and test the systems. Now you don’t own the home yet, so he isn’t breaking anything or going into walls. He is simply testing the different elements of the home and giving you his expertise on what the issues could be. As a experienced agent in the area, I notice many of the issues when we initially walk into the house, so I give my clients fair warning of possible items that may come up. When issues do come up, follow these three tips to successfully protect your best interest after your home inspection. ASK FOR CREDIT OR REPAIR TO BE MADE When issues come up and the buyer is worried about them, its best to see if the seller will remedy them. There are two ways that it can be handled, by repairing it directly or the seller crediting (taking money off the sales price) the buyer. I personally like the seller to handle the repair as opposed to crediting off the price. For example, if the seller were to take $2,000 of the price, that’s typically a savings of about $10 a month in the mortgage. That does no good for a problem that is persisting currently, and the buyer will have to fix once they move in. THINK OF THE BIG PICTURE If you plan to remove things and renovate, then many things may not be of big issue. Focus on the electrical, plumbing, heating,...

4 Tips For Selling Your Home In The Winter

Usually when one lists their home in the winter, that indicates a serious motivation to sell. Lets face it, during the cold winter months, the inconvenience of having people in and out of your house is a lot. With that being said, we have to make sure that the inconvenience is worth it. We want to make sure that your efforts are going towards getting this home sold. Here are 4 tips to get your home sold in the winter. BE SURE ITS EASILY ACCESSIBLE With winter weather so unpredictable, keeping the property clean adds difficulty to keeping it ready. In New England we can get a quick two inches of snow and ice at any given time. Buyers agents quite often have to show a property in unfavorable conditions and keeping your home maintained is key to getting buyers in the door. You also don’t want to open yourself up to the possibility of a slip and fall and legal action. KEEP THE HEAT ON Walking into a warm house in the cold New England months is a great feeling. This is no different with those home shopping. The warmer the home feels, the longer the agent and buyer will stay inside and increase the overall showing. Keep the home comfortable and inviting. SHOW OFF YOUR OUTDOOR AMENITIES In the dead of winter, while contending with snow on the ground, its tough to see the grounds. Whether it be your pool, yard size, patio, be sure to include pictures from the summer time so buyers can see what they’re buying. This is an added bonus and adds a...

5 Steps to Get You Closer to Owning A Home While Renting.

If you’re a renter and intend to one day own your own home, the being prepared is one of the best things you can do to ease the process. Buying any type of property isn’t easy,  but you can avoid some of the pitfalls by having all your ducks in a row ahead of time. Here are 5 things that will advance you in the transition from renter to homeowner: UNDERSTAND COSTS When renting, all you pay is your rent in most case, but as a homeowner a mortgage purposes satisfies several things. A mortgage payment is broken down by four things, P.I.T.I. (Principal, Interest, Taxes, Insurance). This is very vital to know because some towns have higher tax rates than others which will ultimately increase your monthly payment no matter how good of a deal your realtor gets for you. You also are responsible for the things that go wrong on your home, and the repairs that go along with them. This is a very overlooked aspect as many people arent ready for the things that tend to go wrong. KNOW HOMEOWNER TAX BENEFITS Mortgage interest and property taxes are both deductible when you file your annual tax returns and reduce taxable income. These deductions significantly lower the cost of home ownership. This is one of the best benefits to owning property. KNOW THE RENT VS. BUY NUMBERS In most areas of the country it is becoming cheaper to buy a home rather than rent a place. Most people are scared of the down payment required for a house but fail to realize, the average rental in Connecticut...

5 Reasons To Sell Your Home in 2017

2017 is here and many people have lots of projections for the real estate market in the new year. With a new president and things shifting, some are fearful while others are hopeful. I personally am still seeing a busy market even with inventory slipping slightly in Greater Hartford. If you are on the fence about selling, I would advise taking a look at the current market and seeing what homes like yours are selling for. Please read the 5 Reasons you Need To Sell in 2017. LOW INVENTORY When inventory is lacking, its usually a good time to sell. Your home may cause buyers to pounce if you’re in a active price range or desirable neighborhood. If you’re priced and the home is market ready, it will really stand out in a area with lacking inventory. MORE URGENCY There are usually many reasons at the beginning of the year the urgency is high. A lease is ending, companies usually reassign in January, or there may be another living situation that has changed with the new calendar year start. Usually a buyer that is out looking in the colder months has a higher level or urgency, and need to move. EARLY MOVEMENT FOR LOWER PRICE POINTS Being that the lower price points is what I focus on, I can attest to this fully. Most first time buyers use tax returns to purchase a home, and those usually come before the spring market is in full swing. Listing a home at the start of the year or before April can be very beneficial in capturing that group of buyers. NEW...

The 4 Steps To Selling A Home, And How Long Each Takes

Selling a home isn’t always the smoothest and easiest thing to do. Whether you’re downsizing, upgrading, or simply moving out of state, you as a seller have many things to think and plan for after the sale. Having a knowledgeable realtor on your side will help you  ease the frustration and the frustration that can happen. There are really 4 stages of selling a home, and here they are and how long each should take. LISTING THE HOME This is where we as your Realtor announce to the local real estate market that your home is available and for sale. We enter the home into the local Multiple Listing Service (MLS), call our buyers and spheres of people, and do our most effective marketing to get the house sold. This usually takes place once seller and realtor come to agreement on price and terms of the listing contract. This should usually take 1-3 Days. GETTING THE HOME UNDER CONTRACT This is probably the hardest period to give a time frame on. The average market time varies per area and style of home but the most important thing to remember is you as the seller have control. By pricing the home right, and where your Realtor recommends you greatly increase the chances of getting a good offer that is acceptable. No matter the condition, size, or area, price is the deciding factor in whether the home is sold. Price it right from the beginning. This should take between 30-45 days if priced correctly to get a solid offer. WHEN UNDER CONTRACT Once an offer is accepted and the property is...

3 Very Common Mistakes First Time Home Buyers Make

Being a first time home buyer is a very exciting and promising experience. There’s a lot of things that you should know and if you’re directed in the wrong direction it can be very costly and frustrating. Being a first time buying expert, I always like to get the information out so that you as a potential client will have the best information and experience possible. Here are 3 Common Mistakes First Time Home Buyers Make Get Professional Advice One thing I always drive home with my clients, is when you tell people you’re buying a house you will mostly get their bad stories. People are scientifically proven to share a bad experience more than a good one, and being the recipient of this information can create doubt in your mind. What happened to them is possible to happen to you, but from my experience, no two deals are the same. You will have a problem in your purchase, but as a Realtor, my job is to prepare you and forecast for these problems. When the Realtor and lender are on the same page, buyer has been honest about their finances, and diligent about getting their documents in, the transaction is usually smooth. Having a meeting and discussing the process is always a must with a new buyer to educate the on the process and what is expected. Learning the Process Knowing what you’re doing at anything in life will lead a better result. Buying a home is no different, and shouldn’t be treated as such. With first timers, I always like to set up a time to go...

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