Darryln Leikauskas - CENTURY 21 Commonwealth



Posted by Darryln Leikauskas on 9/21/2018

The biggest area of your life that you need to understand before you buy a house is your own finances. Before you know what kind of house you can buy, youíll need to understand your own buying power. While things like square footage, how many bedrooms you need, and finding the right neighborhood are important, you canít go very far without some type of financing. While understanding how much you can spend on a property is one of the more serious parts of buying a home, itís something that youíll want to do. Knowing what you can spend on a home is a step to helping you land a home you love. If you understand your own numbers, youíll know the chances that you have of an offer being accepted on a place you love.  


The Elements Of Your Buying Power


Your Credit Score


This little three digit number has a lot of meaning behind it. This is the most basic piece of information that lenders use to determine your loan worthiness. The factors that influence your credit score include:


  • Payment history
  • How much you owe
  • Length of your credit history
  • Mix of credit accounts
  • How much new credit you have opened


A low credit score is somewhere under 620. Having a score this low doesn't necessarily mean that youíll be denied for a loan, but the type and amount of the loan youíre offered can be impacted. Youíll also face higher interest rates because of a low credit score. This means your mortgage could be considerably more expensive than if you had a higher credit score. 


Down Payment


The 20 percent down as a rule of thumb actually offers many benefits to your buying power. This means that youíll need 20% down of the purchase price of the home in cash. If you put this amount of money (or even more) down on a home, it eliminates the need for you to have to buy PMI (Private Mortgage Insurance). Youíll even be able to negotiate a lower interest rate. A large down payment may be especially helpful in competitive markets where there is a lot of buyer competition.


How Your Financial Picture Appears


Your assets and your debt-to-income ratio are also important factors in your financial picture that you present to the lender. Basically, all of these numbers let both the lender and the seller see how committed you are to buying a home. It is one of the biggest financial undertakings of your entire life. If you canít show financial responsibility, then it may be a bit difficult for lenders to see that youíll actually pay your loan back in a timely manner.


The better all of your financial numbers are, the more buying power that youíll have. If your numbers are good, youíll be able to afford more house. While it may not be the most exciting thing to look over all of your financial numbers, itís a vital step in the process of your journey to home ownership.




Tags: Buying a Home   finances  
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Posted by Darryln Leikauskas on 9/14/2018

OPEN HOUSES 9/15 & 16 noon-2. A MOVE-IN READY home freshly painted inside with soothing colors. Features include beautiful hardwood floors throughout, a newer heating system (2016), new Bosch s/s DW and many other recent improvements including vinyl siding, trim, shutters (2012), kitchen remodel (2012), rear deck added (2014), oil tank replaced (2010), roof (2006). Want some tech upgrades? This home has fiber optic high speed network cable and WiFi home automation thermostat. Save energy with LED light bulbs installed throughout plus insulated cell window shades. A welcoming foyer draws you into the living room, dining room and kitchen open floor plan providing large entertaining space. Step outside onto the 12 x 15 deck to enjoy your own outdoor cooking, quiet relaxation or game time in the large, level yard.This house is nicely situated on the lot in a quiet neighborhood setting yet close to shopping & restaurants. It's perfect for those wishing to downsize or are just starting out.

More Info on this Property | New Listing Alerts





Posted by Darryln Leikauskas on 9/14/2018

If you plan to buy or sell a home in the near future, it is important to find the right real estate agent. By doing so, you should have no trouble getting the optimal results from the homebuying or home selling journey.

Ultimately, you'll want to conduct extensive research before you hire a real estate agent to help you buy or sell a home. This will require you to look at a variety of factors, including:

1. Communication Skills

A real estate agent should serve as a friendly, knowledgeable source of housing market insights. This individual should be able to provide you with the information you need to make homebuying or home selling informed decisions. That way, you can seamlessly navigate the homebuying or home selling process.

Hiring a real estate agent who is a great communicator is essential. This housing market professional will allocate the necessary time and resources to listen to your concerns and questions and respond accordingly.

The right real estate agent will stay in touch with you via email, phone and text. This will ensure you can stay up to date as the homebuying or home selling journey moves forward.

Plus, a real estate agent who understands the importance of communication is unafraid to be honest with you. He or she will provide honest, unbiased suggestions as you buy or sell a home and guarantee you can get the support you need at all times.

2. Industry Expertise

How long has an individual served as a real estate agent? Spend some time learning about a real estate agent's expertise, and you may be better equipped than others to determine whether this person can help you accomplish your homebuying or home selling goals.

A quick online search offers a great starting point as you assess a real estate agent's expertise. In fact, this will allow you to learn about a real estate agent from any location, at any time.

If you want to go a step further, set up a face-to-face meeting with a real estate agent. This will enable you to ask questions and gain deep insights into a real estate agent's background.

3. Client Referrals

How would past clients rate their experiences with a particular real estate agent? Thanks to client referrals, you can find out how a real estate agent has supported his or her previous clients.

A real estate agent should be able to provide you with client referrals without delay. Then, you can reach out to these client referrals and gain unparalleled insights into how a real estate works with homebuyers and home sellers.

Client referrals allow you to find out what it's like to work with a real estate agent at each stage of the homebuying or home selling journey. They also can provide you with insights into a real estate agent that you might struggle to obtain elsewhere.

Evaluate the aforementioned factors as you search for the right real estate agent, and you can employ a top-notch housing market professional to help you buy or sell a house.





Posted by Darryln Leikauskas on 9/7/2018

A seller's market provides many opportunities for those who plan to list a residence in the near future. If you know how to capitalize on a seller's market, you may be able to quickly and effortlessly sell your house and maximize your property sale earnings.

Now, let's take a look at three tips to help you get the most out of a seller's market.

1. Analyze Your Home's Strengths and Weaknesses

It may be beneficial to conduct an inspection prior to adding your house to a seller's market. With an inspection report in hand, you can assess your residence's strengths and weaknesses. Then, you can perform home repairs and upgrades and boost the likelihood of getting the best price for your residence.

In addition, you may want to complete a home appraisal. If you receive an appraisal report, you can analyze a property valuation and use this information to establish an aggressive initial asking price for your house.

2. Craft an Engaging Home Listing

A home listing typically plays a pivotal role in the house selling journey. If you devote time and resources to create an engaging home listing, you should have no trouble stirring up lots of interest in your home in a seller's market.

As you craft a home listing, it may be a good idea to evaluate the buyer's perspective. If you understand what separates your home from comparable residences in your city or town, you may be able to find innovative ways to differentiate your house listing from all others.

It often helps to include high-resolution images of your home in your listing too. You also should incorporate accurate details about your home into your listing to help buyers determine if your residence matches or exceeds their expectations.

3. Work with a Real Estate Agent

Selling a home sometimes is tricky, regardless of the current housing market's conditions. Lucky for you, real estate agents are available who can help you achieve the optimal results in a seller's market.

A real estate agent knows what it takes to sell a residence in any location, at any time. First, he or she will create a personalized home selling strategy designed to help you accomplish your desired goals. A real estate agent next will put this plan into action and promote your residence to potential buyers. If you receive an offer to purchase your house, a real estate agent will help you determine whether to accept, reject or counter this proposal.

Furthermore, a real estate agent will help you finalize a home sale. He or she will offer tips and recommendations to help you prepare for a home closing and respond to any of your concerns or questions. Plus, a real estate agent will keep in touch with you as your home closing date approaches to help you alleviate stress.

There are lots of things you can do to capitalize on a seller's market. Thanks to the aforementioned tips, you can take advantage of a seller's market and seamlessly navigate the home selling journey.




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Posted by Darryln Leikauskas on 8/31/2018

The weeks and days leading up to a home closing can be stressful, particularly for a homebuyer who is already trying to do everything possible to secure his or her dream residence. Fortunately, we're here to help you simplify the process of getting to your closing date.

Now, let's take a look at three tips to ensure you can enjoy a fast, easy home closing.

1. Get Your Paperwork Ready

It often helps to get all of your homebuying paperwork ready before you pursue a residence. That way, you can minimize the last-minute stress associated with searching far and wide for pay stubs, tax returns and other documents that you'll ultimately need to get financing for a residence.

Furthermore, you should meet with local banks and credit unions as soon as you can. If you can get approved for a mortgage prior to starting a home search, you may be able to speed up the process of acquiring your ideal residence.

2. Be Prepared to Cover Your Closing Costs

Although you might have financing to cover your monthly mortgage payments, it is important to remember that you may need to pay closing costs to finalize your home purchase. As such, if you begin saving for your closing costs today, you can guarantee that you'll have the necessary funds available to purchase your dream residence on your scheduled closing date.

Also, you should be prepared to present a cashier's check or wire funds when you close on a house. If you plan ahead, you should have no paying off your closing costs when your complete your home purchase.

3. Schedule Your Final Walk-Through Before Your Closing Date

When it comes to a final walk-through on your dream house, why should you leave anything to chance? Instead, set up the final walk-through at least a few days before you're scheduled to close on a house.

If you find problems with a house during a final walk-through, you'll want to give the seller plenty of time to address these issues. Thus, if you schedule a final walk-through several days before your closing date, you can ensure that any home problems can be corrected without putting your closing date in danger.

For homebuyers who are worried about a home closing, there is no need to stress. In fact, if you work with an expert real estate agent, you can receive plenty of support throughout the homebuying journey.

Typically, a real estate agent can explain what you should expect in the time leading up to your closing date. If you have any concerns or questions before a home closing, a real estate agent is happy to address them. Plus, when your closing date arrives, a real estate agent will help you remain calm, cool and collected as you purchase a home.

Ready to streamline the process of closing on a house? Use the aforementioned tips, and you can reap the benefits of a quick, seamless home closing.




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