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Category: Blog Post (Page 1 of 2)

This is a page of the real estate blog post. All of them are written by me, Marlon Thomas Jr, a Realtor in Williamsburg, Virginia. As I’ve mentioned before, the property market is always changing. Therefore, I feel it’s best to share my knowledge and expertise with people with such needs. After all, I have always enjoyed writing. Furthermore, I made a choice to leverage technology along with my writing skills. Thus allowing me to mesh them together and create this website.

 

For home buyers, I have written posts about mortgages, how to afford a home, etc. Suppose you’re a first-time homebuyer in Virginia. With this in mind, I wrote an article about how you can use the VA’s first-time homebuyer programs. This is definitely worth a read if you need financial aid. On the other hand, if you’re a seller, maybe you should consider reading about the home selling process’s seven steps instead. And if you’re in Williamsburg, I also have a page with a list of marketing services I offer. Lastly, I also explain why I would use one particular method over the other.

 

A blog post is a great way to connect with potential clients in real estate in the final analysis. Not to mention the abundance of info you can get at any moment. You may feel free to subscribe or reach out at any time with questions if necessary. After all, an excellent real estate agent is a source of valuable tips and insight. Thank you for reading! Please enjoy!

Here’s Why Buying a House Is Not a Good Investment

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Is Buying a House a “Good Investment?”

As a Realtor, I don’t think buying a home is a “good investment.” However, I do believe it can be a great “personal financial decision.”

advice for buying a house
The House Buying Guide, Square Yards, Square Times Bureau, March 22nd, 2016

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Pre-Qualified vs. Pre-Approved

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Pre-Qualified vs. Pre-Approved

Getting pre-qualified and pre-approved are the very first steps of the home buying process. Without this step, you can’t get a mortgage, meaning can’t buy a home. Unless you’re a cash buyer. Nonetheless, most people will have to go through this process before home shopping. If you’re unsure of how much you’re likely to afford, try using a mortgage prequalification calculator first.

Here’s a homebuyer tip from Bank of America: “Expect surprises! Lenders look at every detail of your finances when granting preapproval. You might be asked about a car loan payment you made with a credit card, for example. Be prepared to answer lender questions as soon as they come up.”

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What Is a Mortgage?

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What Is a Mortgage?

A mortgage is a loan secured by the collateral of real estate. Mortgages typically have 15 to 30-year terms and can have a fixed or adjustable interest rate. The borrower is bound to make monthly payments to the principal, which is your outstanding balance. In the case that you stop making payments, the lender can take possession of the property. Otherwise known as the process of foreclosure.

All in all, the lender holds the most stake in your home. Therefore, by making monthly payments, you’re always increasing the amount of ownership in the property. Lastly, here’s a fun fact for you: The origin of the word “mortgage” is Latin and then came from Old French, which initially meant a death pledge.

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The Home Selling Process In Seven Steps

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Home Selling Process

It is vital to understand the home selling process before listing. The last thing you want is to feel like you’re flying blind while hoping for the best. As a Realtor, I’ve put together a condensed step-by-step guide to sell your home.

a step by step guide for the home selling process
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Buying New Construction vs Existing Homes

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New Construction or Resale?

As you continue your home search, I’m sure you’ve wondered if it’s better to buy new construction or a resale home. You might love the idea of owning a home with the latest safety standards and modern technology. Or you might like the idea of buying an older home because of its charm. But of course, both will come with their fair share of pros and cons. Here are a few reasons you may prefer to buy a newly built home over an existing one.

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11 Tips for First-Time Home Buyers

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Buying a Home for the First Time

Buying a home can be a daunting task for first time home buyers.

However, as a Realtor, I understand.

Below I have eleven tips for first-time home buyers.

Featured: 10 Major Advantages of Owning a Home

But first, what exactly is a first-time homebuyer?

First Time Home Buyer Definition

The U.S. Department of Housing and Urban Development defines a first-time home buyer as the following:

  • You haven’t owned a primary residence for three years. However, if you’ve owned a home but your spouse hasn’t, both of you can still buy as first-time home buyers.
  • You’re a single parent who has owned a home with a former spouse while married.
  • You’re a displaced homemaker who has only owned with a spouse.
  • You have only owned a primary residence that wasn’t attached to a fixed foundation.
  • You’ve owned a home that wasn’t up to code. Or if it wasn’t possible to bring the property up to code for less than the cost to rebuild.
Rent Vs. Own [INFOGRAPHIC] | Keeping Current Matters
Crew, KCM, “Rent vs. Own,” Keeping Current Matters, August 9, 2019, https://www.keepingcurrentmatters.com/2019/08/09/rent-vs-own-infographic/
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Things to Know About a Home Inspection

Learning About Home Inspections

Did you know 85% of home buyers request a home inspection? I think it’s safe to say, taking this step during the home buying process is extremely important, and that goes for both new construction and older homes. Doing so before taking ownership may save you a grip in the long run.

8-things-buyers-need-to-know-about-home-inspections-infographic
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The Benefits of Hiring a Realtor to Sell Your House

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Hiring a Realtor to Sell Your House

You in particular may question hiring a Realtor to sell your house.

Well, just to clarify, yes, you should hire a Realtor to sell your house.

Firstly, I am a Realtor myself.

I know what you’re thinking to yourself as a result of that statement.

“As a Realtor, why wouldn’t he say yes?”

Besides the fact that I am a Realtor, that’s not why I said yes.

Statistically, hiring a Realtor to sell your house can save time and money.

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Each Mortgage Type Explained

Which Mortgage Type?

5 types of mortgage loans for homebuyers: Which is best for you? | Fox  Business

Knowing what mortgage type is best for you can be somewhat of a doozy. For this reason, it should in your best interest to find a reputable mortgage lender. This will allow you to be consulted by an expert while finding out what home loan is best.

Before continuing, I must make a disclaimer. My intent with this article is to briefly describe each type of loan while giving my opinions. I am a Realtor, and I do not proclaim myself to be a mortgage expert whatsoever.

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Top 10 Home Improvements to Increase Resale Value

Most Valuable Home Improvements

A group of tradesmen getting ready to help homeowners make the most valuable home improvements.
Image by Alexas_Fotos from Pixabay

“What are the most valuable home improvements?”

If a homeowner is planning to sell their home in the future, this is a question one may ask.

As a Realtor, I understand making changes to one’s home is oftentimes a very emotional process.

My advice to all homeowners is to disallow ones emotions to make “value-add” decisions.

For example, adding a swimming pool and over-personalizing the home are some of the worst home “improvements” one could make.

Therefore, “added” resale value will remain stagnant.

This is why hiring a professional interior designer is highly recommended.

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