by mstrickland | Jun 30, 2017 | Uncategorized
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...
by mstrickland | Dec 27, 2016 | Uncategorized
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...
by mstrickland | Sep 22, 2016 | Uncategorized
While the days are shorter, the real estate market is picking up, and sales have risen. Usually the fall isn’t a time for buyers to be out and about searching for homes. Contrary to belief, now is a great time to buy. Before you disagree, read these five reasons why you should buy now. 1. Leftover spring and summer inventory may mean good deals Homeowners tend to go on the market for the first time in the spring, and usually begin overpriced. Usually that will result in a series of price reductions throughout the summer. When this happens, the sellers sometimes become desperate and accept an offer below market value. 2. Fewer buyers are competing When you read this, you most likely disagreed with the notion of buying now. Most don’t feel this is a good time, and that’s less competition for house hunters. 3. Motivated sellers want to close by the end of the year While most people still live in the home they’re selling, some are investments. A home seller may want to take advantage of a gain or loss during this tax year. Buyers might find homeowners looking to make deals so they can close before December 31st and get that tax benefit. Ask why the seller is selling, and look for listings that offer incentives to close before the end of the year. 4. Homes for sale near the holiday signal a motivated seller As the holidays approach, the last thing a homeowner wants is for their sale to be interrupting their parties and family events. If a home has not sold by November, and it’s still sitting...
by mstrickland | Mar 10, 2016 | Uncategorized
While prices in the state have yet to fully surge, Hartford county saw a great rise in sales price in the month of January. The median (where half are above, and half below) sales price in January was $201,000 as compared to $180,000 in January of 2015. The great news is that sales have increased over 18% January 2016 as compared to January 2015. The market has really been strong as buyers are out and inventory is shrinking. If you have been on the fence about buying, now is the time to make it happen. Inventory is shrinking and it is creating many bidding wars and multiple offer situations. At the same time, if you’re a seller, now is a good time to consider entering the market. Spring is here and lots of others have the idea of coming onto the market now. If you’re looking to buy or sell, don’t hesitate to reach out to me. — Marques Strickland Realtor/Buyer Specialist Email: mstrickland@kw.com Web: Homesbymarques.com Connect with me on Facebook Cell: 860-518-0304 Fax:...
by mstrickland | Feb 17, 2016 | Uncategorized
2015 was a really solid year for myself as I continued my growth and again increased the number of clients put into homes. Connecticut as a whole had a strong year as sales rose 17% as compared to 2014. With that rise, rates are still lower than some economists estimated they would be. As of this week, the 30 yr fixed rate was at an average of 3.65% as compared to 3.72% a week ago, and 3.69% last year at this time. I personally do most of my business in Hartford county and the rise in homes sold there was an amazing 15% as compared to 2014. With that being said, if you’re considering buying a home, I would strongly suggest beginning the process. Rates are low, so no need to wait until the spring market where you will be competing with lots of other buyers. If you do want to begin the process, don’t hesitate to shoot me a text or give me a call. Marques Strickland Realtor/Buyer Specialist Email: mstrickland@kw.com Web: Homesbymarques.com Connect with me on Facebook Cell: 860-518-0304 Fax:...
by mstrickland | Jul 25, 2015 | Uncategorized
House shopping can sometimes be a fun yet stressful experience. You’re so excited in finding your home, all you do is talk about it to your friends and family. While caring about you and your well being, you may be receiving some bad advice that’s adding to the stress. Here are a few ways to save your house hunt from being ruined. 1. Consider the source Who is in your ear? If its your Realtor, maybe you should consider that advice because their job is to protect your best interest. Maybe its your parent who really doesn’t want you to overpay and is still protecting you as their child from a bad move. Friends and associates who’ve had bad experiences may also be the main culprits. You have to remember, whether the advice is good or bad, that doesn’t mean it will be the same for you. 2. Decide to apply it or not Either the advice will stay in your mind when choosing a decision or it will go in one ear and out the other. You need to decide if you’re listening to it and if the person its coming from is somebody you trust. 3. Fake it but don’t take it Face it, sometimes you just have to let people give their two cents, its normal. This situation usually pertains to parent and/or relatives. They relate you buying to their purchase and what they paid and went wrong. You have to remember, in most cases, the market isn’t the same as when they bought. 4. Be ready to walk it back If what previously sounded like...
Marques StricklandCell: 860-518-0304
Email mstrickland@kw.com