J. Kent Erickson, Broker Associate
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Debunking 4 Myths about Buying a Home

Posted by on Dec 29, 2014 in Buying a Home | 0 comments

A recent study by the Joint Center for Housing Studies at Harvard University revealed when renters were asked why they do no plan to own in the future, financial constraints were a more common response than the perceived lifestyle benefits they may receive from renting. Today, we want to go over those financial challenges and see if we can put some fears to rest and also clear up some misconceptions. Here are the top four financial hurdles that cause renters not to buy: You Cannot Afford a Home Well over 50% of renters consider this as a financial barrier to homeownership. However, study after study has shown us that there are major misunderstandings about what is required to purchase a home. The biggest misconception is the amount of a down payment required. A recent surveyrevealed that 44% of respondents believed that a...

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5 Reasons to Hire a Real Estate Professional

Posted by on Dec 22, 2014 in Buying a Home, Selling a Home | 0 comments

Whether you are buying or selling a home, it can be quite an adventurous journey. You need an experienced Real Estate Professional to lead you to your ultimate goal. In this world of instant gratification and internet searches, many sellers think that they can For Sale by Owner or FSBO. The 5 Reasons You NEED a Real Estate Professional in your corner haven’t changed, but have rather been strengthened due to the projections of higher mortgage interest rates & home prices as the market continues to recover.  1. What do you do with all this paperwork? Each state has different regulations regarding the contracts required for a successful sale, and these regulations are constantly changing. A true Real Estate Professional is an expert in their market and can guide you through the stacks of paperwork necessary to make your dream a reality. 2....

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What’s the Difference Between Home Insurance and a Home Warranty?

Posted by on Dec 16, 2014 in Buying a Home | 0 comments

Homeowners looking to protect themselves against costly repairs may consider obtaining home insurance or a home warranty. Although these two terms sound interchangeable, they’re actually two distinct types of protection homeowners can purchase. Home insurance protects homeowners from paying for costly repairs caused by accidental damages. Home warranties protect homeowners from the costs of replacing systems and appliances that wear out over time. What is Home Insurance? Nearly all mortgage lenders require you to obtain the appropriate home insurance policy to protect your home and belongings. Home insurance generally covers four areas: 1.  Interior or exterior home damage 2.  Loss or damage of personal property 3.  Liability for damages caused by the family and their pets 4.  Temporary housing while a home is being rebuilt or repaired These areas are only covered if the damages were the result of...

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The Real Estate Market Has Turned a Corner

Posted by on Dec 10, 2014 in Buying a Home, Selling a Home | 0 comments

As we finish 2014, it appears the real estate market is once again on solid footing and ready to advance forward over the next few years. The strength of the market can be viewed using two metrics: projected home values and projected house sales. We recently reported that the Home Price Expectation Survey revealed future home values will continue to appreciate nicely. Today we want to look at projections on the number of home sales (existing and new construction) we will see over the next two years. We researched what the National Association of Realtors (NAR), Freddie Mac and the Mortgage Bankers’ Association (MBA) are projecting for the housing industry going forward. Here is what we...

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Sales Up in Almost Every Price Range

Posted by on Dec 4, 2014 in Uncategorized | 0 comments

  The National Association of Realtors’ most recent Existing Home Sales Reportrevealed that home sales were up rather dramatically over last year in five of the six price ranges they measure. Only those homes priced under $100,000 showed a decline (-6%). Every other category showed a minimum increase of at least 9.7%.     What does that mean to you if you are selling?  Houses are definitely selling. If your house has been on the market for any length of time and has not yet sold, perhaps it is time to sit with your agent and see if it is priced appropriately to compete in today’s market.      ...

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