A Picture Can Be Worth a Thousand Words

blog4This is even more true when it comes to selling your home. And let’s face it, you want those words to end with a definitive “sold.”

Homes garner more traffic and buyer interest when presented effectively—which means they sell faster. That’s why it is essential that you showcase your home through images in the best way possible.

According to the National Association of REALTORS,® nearly 90% of all homebuyers begin shopping for homes online. They click through photos and send a list of those of interest to their real estate agent. In fact, homes with few or no photos are often skipped simply for that reason, even if the home’s description matches a buyer’s ideal listing.

Many agents believe that apart from staging, no other marketing investment is as important as professional photography in marketing a property. So to generate more buyer interest, there has been a dramatic increase in the use of professional real estate photographers. As much as we like to think we take great photos, a professional has an eye for seeing the best composition and lighting, plus better equipment to make the photos bright, clear and sharp.

For more home tips, follow us on Facebook. Looking for a new home in the Kansas City area? Visit us at BHHSKCRealty.com!

The Importance of Assets

Lenders dissect the entire credit history of a potential client with strict attention to income, credit, collateral and assets. Of the four, assets are perhaps the least discussed, yet may be the most important in securing credit and buying a home.

pigAssets include the amount of money needed for the down payment plus closing costs, pre-paid costs (e.g., insurance and taxes, escrow fees and funds that would be available in case of an emergency).

Assets could be considered a reflection of a one’s fiscal strength. Savings and budgeting could be a significant factor in assessing paying habits.

What are assets? Common considerations for a loan include stocks, bonds, mutual funds, 401Ks, retirement accounts, life insurance, cars, boats, antiques, jewelry and other real estate.

The source and timing of assets is also critical as restrictions have tightened. When borrowers are paying off credit cards to get their ratios in line, lenders want to know where the money came from. If it can’t be determined when a direct deposit is made from your employer or a transfer from one account to the next, a letter of explanation and a showing of proof of where it came from is likely to be required. It may not be advisable to make cash deposits or take any monies from someone personally unless it is a gift from a relative.

Large and recent savings deposits raise underwriter concerns as they can indicate loans that have yet to appear on borrowers’ credit reports. Borrowing from relatives to boost savings and credit worthiness also doesn’t help. If funds aren’t reflected on income statements and tax returns, they can’t be used to qualify for mortgages.

Make sure your assets are in order with proper documentation. Your preparation can speed you on the road to homeownership.

For more home tips, follow us on Facebook. Looking for a new home in the Kansas City area? Visit us at BHHSKCRealty.com!