LAIF MCCLELAN & MARGARETICH TEAM PRESENT
ROCKLIN
REAL ESTATE REPORT
FIRST EDITION
TOP 3 REASONS WHY 2022 WILL BE THE BEST YEAR TO SELL YOUR HOME!
There are many factors that come into play when deciding to sell a property, and timing is right up there at the top of the list. It’s important to work with a Real Estate professional that cares enough to take the time to learn about your particular home buying and selling objectives. Just as a doctor or a lawyer should present all the facts for you to make an informed decision, you need to look for a Real Estate professional who will give you all the facts when it comes to the sale of your property. If money is a consideration, carefully think about each of the five ways sellers have lost thousands of dollars by waiting to sell their home.
INTEREST RATES
Throughout history, interest rates have fluctuated up and down. No one can guarantee that interest rates will not go up significantly again. If rates increase, buyers inevitably are knocked out of the marketplace. With fewer buyers in the marketplace, the chances of finding a buyer willing to pay your price decreases. None of us can predict what’s going to happen with interest rates, and there is an advantage in dealing with a known set of circumstances.
TIMING IS ON YOUR SIDE
Being ahead of the game and giving yourself plenty of time could potentially save you thousands. Many sellers who have waited have put themselves in a “have to” sell situation, and had to accept an offer for less than what they wanted. The fact is that when you have time on your side, you won’t feel pressured to accept an offer that is less than what you are hoping for.
TAX CHANGES
Currently, we enjoy a number of benefits for owning property. Should the federal government decide to change capital gains or interest deductions, you could risk the current tax advantages which homeowners currently benefit from. It might be more convenient to wait to put your property on the market for various reasons, but if you knew that by waiting you could be costing yourself $3,000 or more, would you still want to wait? Part of the reason you hire a professional is to provide you with all of the facts so that you can make an informed decision. Don’t hesitate to email or call us, we will provide you with a list of our top accountants or tax specialists so that you can seek advice on these topics.
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I’ve spent a lot of time helping my clients navigate around some deep potholes in their mortgage journey and realized the same issues kept popping up toward the end of the process. So here I will list and explain the 3 most important tips for a smooth closing process.
Stay Organized
Each piece of paper you supply to your loan officer, keep a copy for yourself. Paystubs, W-2’s, tax returns, bank statements - whatever it is, give one and keep one. As you go through the loan process, repeat this for every document requested. Keep your copies together and make sure your documents are always accessible.
Stand Still
What I mean here is specifically two things: Don’t quit your job, and don’t open any new credit accounts of any kind. Period (I see you, shopping for that new couch/washer and dryer/refrigerator!). These may seem like obvious things you don’t need to worry about, but we have a million stories. While you CAN change jobs without disqualifying yourself from getting a mortgage, understand that it adds several steps and potential setbacks to loan approval. Communicate any possible job change to your loan officer and discuss how it may impact the mortgage process.
Follow the money
You may be surprised at the minute focus lenders will have on your money - how you got your money, which accounts you keep it in (savings, investment, retirement), and where you move it to as you go through the loan process. It’s a big deal. If you could pay hyper-attention to just one thing in the mortgage process, this is the one. Be prepared with documentation. If you received a bonus recently, document where the money came from (your employer) before you deposited it. If you have funds in different accounts, set up a plan with your loan officer for how those funds will flow to the escrow account. Will you leave it in different accounts until closing? Or will you be transferring funds to consolidate it all in one account? If you’re receiving a gift of money for your down payment, those funds require documentation as well.
The loan process can be intimidating, but I’m here to help you simplify and achieve your home ownership goals! Call me today!
BRITTANY MCCLELLAN
MORTGAGE ADVISOR
NMLS 1923314
O: 831-325-9677 | brittany@pointequity.com
925 Highland Pointe Drive Ste. 330 | Roseville, CA 95678
We are a team of experienced and passionate REALTORS® who make it a point to be easily reachable and available for our clients needs.
Christie's International Real Estate Sereno
2428 Nevada City Hwy | Grass Valley, CA 95945
(530) 798-4466 | Mary@MargaretichTeam.com
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