Buy Before You Sell with Howard Hanna Mortgage

In today’s competitive real estate market, you may be worried about selling your home. You may be thinking: if it sells quickly, you won’t have enough time to find and buy a house that’s right for you. Plus, between staging your home, creating great curb appeal, and finding the right real estate agent, there are a lot of tasks to tackle involved in selling a house. Add finding and purchasing a new house on top of that, and it’s a recipe for stress!

At Howard Hanna, we strive to make the home buying and selling process simple for you. Our one-stop shopping is convenient for everyone, including sellers who are also looking to buy.

Buy Before You Sell

When you list a home for sale with Howard Hanna, one of our exclusive one-stop shopping programs available is “Buy Before You Sell,” which lets you take the equity in your current home and apply it towards the down payment of a new home. It’s among our most popular programs because enrollment can be renewed if needed and initially includes deferred interest payments on the mortgage. By using the “Buy Before You Sell” program, you can use the value of your current home to invest in your preferred home!

If you’re trying to figure out if you should sell before you buy – or vice versa – we have some tips on how to buy a house before selling yours!

Advantages of our Buy Before You Sell program:

1. You can buy a house before you selling yours.
2. You can take advantage of today’s low mortgage interest rates and potentially get better terms for the home you are buying.
3. You can move without worrying about the logistical issues of moving out of one property and into the new one on the same day.
4. Once you’ve found your new home, the home you are selling can be staged without having to overly disrupt your life.
5. We can also more easily show potential buyers your home, allowing more buyers to see your home than if you were still living in it.
6. Our program produces more buyers who can buy your home by removing the need for a contingent offer.

See more advantages of the Howard Hanna Buy Before You Sell program on our blog.

Buy your next home with confidence.

Wondering if you should sell your home before buying? It’s important to be able to buy with confidence, even before a current home is sold. It doesn’t matter if you’re looking to upgrade, right-size, switch school districts, or just enjoy a change of scenery, our “Buy Before You Sell” program covers it all!

• Our program provides down payment funds for your next home purchase
• Our program eliminates home sale contingency
• Payments can be deferred for qualified home buyers

We’ve been taking the hassle out of the home buying and selling process for decades, and our mortgage professionals are here to help explain our loan programs. We make home ownership accessible and affordable, allowing you to take advantage of today’s low interest rates.

Don’t wait to act on the home you want, buy before you sell!

Do you live in New York state? Learn more about the 1st Priority Buy Before You Sell program here.

 

NMLS# 101561. Restrictions apply. Advanced Equity Loan must be in 1st or 2nd lien position. Offer of credit is subject to credit approval. Contact Howard Hanna Mortgage Services for mortgage products and eligibility. Howard Hanna Mortgage Services is licensed by: The Pennsylvania Department of Banking and Securities as a Mortgage Lender – License number 21415. The Ohio Department of Commerce – Division of Financial Institutions – License number RM.804531.000. The Michigan Department of Licensing and Regulatory Affairs, Office of Financial and Insurance Regulation, First Mortgage Broker/Lender License number FL0022570, Second Mortgage Lender Registration number SR0022571. The West Virginia Division of Banking – License number ML-20884. Howard Hanna Mortgage Services is registered to do business in Pennsylvania, Ohio, Michigan and West Virginia. Contact a Howard Hanna Mortgage Loan Originator for full details.  PA (800) 474-4437, 1000 Gamma Drive – Pittsburgh, PA 15238. OH and MI – (800) 589-1118, 6000 Parkland Blvd. – Mayfield Hts., OH 44124. mortgage@howardhanna.com.

Selling Your Home When You Have Pets

They say a pet makes a house a home, and we couldn’t agree more! Having a fluffy friend or a scaly pal to spend time with can be incredibly rewarding and make home life that much more fulfilling. But here’s the sad truth: As much as you love your pets, other people probably don’t! If you’re planning to sell your house, knowing what to do with your animal friends is critical.

You don’t have to have an aggressive dog or a giant snake to keep potential buyers from seeing the promise of your home. As many as 15% of people have allergies to various pets, and many more people have phobias of different animals. Some people are just uncomfortable around animals for various reasons. Is it worth losing a buyer over something so easily remedied? 

There are two major considerations regarding pets and selling a house: What to do with your home to repair any damage caused by your pet, and how to handle your pets while the house is on the market. We’ll explore both issues and help you make your home as buyer-friendly as possible without sacrificing quality of life for your pets.

Selling a House With Pets: Cleaning & Repairing

Even if you keep your home meticulously clean, pet smells or damage can add up over time. Potential buyers will want to envision themselves in your home – not you and your pets! Taking the time to remove all signs of pets is well worth it when selling your house, and can often be addressed while carrying out other sale-related home repairs and upgrades.

Make sure you pay special attention to these factors:

• Eliminate pet odor. Deep clean your carpets and upholstery, consider air fresheners, and keep areas where pets live free from unpleasant smells.
• Inspect floors for signs of pet damage. In addition to odors, pets can damage flooring. Whether it’s shabby carpet or scratches on hardwood, ensure it’s fixed and in good shape!
• Clean window treatments & furnishings. One area that can absorb odor (or show damage) is your home’s furniture and curtains. Take the time to repair or replace items that have seen better days.
• Make windows sparkle. Ensure you’ve fixed any pet-damaged windowscreens and removed any doggy noseprints from your windows.
• Check baseboards and molding. Excitable and curious pets may have damaged baseboards, doorway molding, and more. Make sure it’s repaired and looks nice!
• Hide beds & toys. Just like you’d keep kids’ toys out of the way when your house is on the market, you’ll want to stash your pets’ toys and beds as well. Consider designating a bin as a “toybox” that you can easily whisk away during showings.
• Keep habitats, litterboxes, and food clean. Ensure that any areas that pets use stay neat and tidy while your home is listed for sale.
• Take care of outdoor spaces. If you have a pet that spends time outdoors, make sure you’re cleaning up after them regularly. Patch any bare spots in your lawn with soil and grass seed if necessary, and make landscaping touch-ups as-needed. 

What to Do With Pets During Home Showings

The next thing to think about if you have pets is what you’ll do with them during showings! You have a few options, but some are more ideal than others. The worst thing you can do is let a pet roam free during showings – your otherwise calm cat may dislike having strangers in the home, for example.

Relocate Your Pet

If you have the option, consider relocating your pet for the entire period that your home is on the market. A family member may be able to take them for a few weeks, or you might consider boarding them. Not only will this help during showings, you’ll also be able to keep your home much cleaner without your pet there.

Head Out of the House

If it’s not feasible to have your pet out of the house entirely, at least try to ensure your pet isn’t home during house showings. If you have a dog, you might find a dog-friendly cafe or park nearby to hang out in. For cats and other critters, camping out in an air-conditioned car may not be fun, but it will keep buyers from being surprised by your pets.

Crated Inside or Outside Your Home

If you have a suitable space outside (like a dog run or a bird aviary) you may be able to have your pets outside during a showing. Other out-of-the-way places like basements or garages may be suitable for a pet in a crate or other habitat. 

Ideally, you’ll be able to secure pets in a familiar habitat or crate. If possible, work with your pets to acclimate them to these spaces in advance of listing your home. 

However, don’t stash pets inside closets or other small spaces – buyers will expect to look through these areas, and being surprised by a pet isn’t a great way to end a house tour. 

Selling Your Home When You Have Pets

While putting your house on the market with pets can be a little more challenging, it’s very doable! After all, every home needs some TLC to look extra-nice when buyers are taking tours. So, just make sure you pay special attention to areas where pets have had an impact, and ensure you’re keeping your loved ones safe during showings!

Looking to list your home this year? Look no further than the local real estate experts at Howard Hanna! Find a real estate professional near you.

Tips to Help Taxpayers Spot and Avoid Scams

Tax season is also busy season for criminals. Scammers impersonating the IRS either over-the-phone, by email or in-person can steal money from people. All taxpayers should stay vigilant against these schemes.

Here are some tips to help people recognize and avoid tax-related scams.

Email phishing scams

The IRS does not initiate contact with taxpayers by email to request personal or financial information. Generally, the IRS first mails a paper bill to a person who owes taxes. In some special situations, the IRS will call or come to a home or business.

Taxpayers should report IRS, Treasury or tax-related suspicious online or email phishing scams to phishing@irs.gov. They should not open any attachments, click on any links, reply to the sender, or take any other actions that could put them at risk.

Phone scams

The IRS generally first mails a bill to a taxpayer who owes taxes. There are specific ways to pay taxes. The agency and its authorized private collection agencies will not:

• Leave pre-recorded, urgent, or threatening messages on an answering system.
• Threaten to immediately bring in local police or other law enforcement groups to arrest the taxpayer for not paying, deport them or revoke their licenses.
• Call to demand immediate payment with a prepaid debit card, gift card or wire transfer.
• Ask for checks to third parties.
• Demand payment without giving the taxpayer an opportunity to question or appeal the amount owed.

Criminals can fake or spoof caller ID numbers to appear to be anywhere in the country. Scammers can even spoof an IRS office phone number or the numbers of various local, state, federal or tribal government agencies.

If a taxpayer receives an IRS or Treasury-related phone call, but doesn't owe taxes and has no reason to think they do, they should:

• Not give out any information. Hang up immediately.
• Report the caller ID and callback number to the IRS by sending it to phishing@irs.gov. The subject line should include "IRS Phone Scam."

If a taxpayer wants to verify what taxes they owe the IRS, they should:

• View tax account information online at IRS.gov.
• Review their payment options.

Questions about this week's tax tip? We can help!

 

www.PadgettToledo.com

Source: Padgett Business Services

Tax Benefits You May Be Entitled To

1. First time homebuyers save your tax refund for a down payment.

2. PMI might be tax deductible.

3. Mortgage interest paid might be tax deductible.

4. Real Estate Taxes paid on primary residence might be able to be itemized on a tax return.

5. What interest rate are you paying on your current mortgage and contact your loan officer for refinance benefits.

6. Do you have a lot of high interest rate credit cards that can be consolidated into a low rate refinance?

   Source: Ruoff Mortgage 

Selling Your Home This Spring? Take Care of These 10 Things Now!

Selling Your Home This Spring? Take Care of These 10 Things Now!

What is Credit and Why Do I Need It?

The term “credit” can be defined as money, goods, or services given with the expectation of future repayment. Typically, credit is offered under specific terms in the form of a contract. Those terms include the amount of credit (the loan) when it is initially offered and/or disbursed, the full amount to be repaid (initial offering plus interest) and the frequency and timing of the repayment. Credit can be as big as a mortgage or as small as contracting with a neighbor to mow your lawn weekly and promising repayment at the end of the month.

If you want or need something now but don’t have enough cash to cover the cost, you need credit. If you want or need something now but prefer to build savings or to leverage your money for another investment, you need credit. Credit isn't inherently good or bad, but it is something you should learn to master.

Start Small

If you establish good credit early in your financial journey, lending institutions are likely to view you as a favorable risk. This means you’re more likely to be offered loans at higher amounts and with the lowest interest rates available.

There are many ways to start building good credit. You could open a basic credit card account with a small spending limit, then make a purchase or two each month. Start with a small amount that you will repay in full each billing cycle. If you do this for at least twelve months, then banks and other lending institutions are more likely to approve you for a loan in the future. The most important takeaway here is to pay off your credit card in full each month.

A second method for building credit is to establish a good payment history with your landlord. When you apply for your first mortgage, the underwriter will request a rental history. In the absence of a long credit history, your rental history will weigh heavily on the underwriter’s risk assessment.

Avoid Rookie Mistakes

1. Avoid credit blunders that happen early in adult life (such as bankruptcy or auto repossession). These will show up on your credit report long after the end of the legal proceedings. Of course, mistakes like these could happen during any phase of life, but they are especially damaging to one’s credit profile when good credit has not yet been established.

2. Start on the right foot and don’t overcommit. According to investment guru Dave Ramsey, “We buy things we can’t afford with money we don’t have to impress people we don’t like.” This unfortunate but common adage doesn’t have to apply to you.

3. Resist the temptation to overextend your finances. Delaying gratification now will pay off big in the future. It's recommended to use under 30% of the credit on your card. Maxing out your cards is bad news!

Credit Score Tip

Keep your oldest account (assuming it’s in good standing). If you have an old credit card or open-ended loan on your credit report, consider keeping it open and making a small purchase once or twice a year. Then, pay off the full balance within 30 days of each purchase. All other factors held constant, the credit repositories (Equifax, Experian, and TransUnion) give higher scores to longer credit histories versus shorter ones. To see all five factors involved in determining your credit score, take a look at this article. 

The Cosigner Controversy

A cosigner is simply a joint signer on a loan, promissory note, or another debt instrument. Cosigning can make a loan package more attractive from an underwriting perspective because it often leads to a lower risk assessment. A typical example would be when a parent cosigns on an auto loan for their teenage child. This can help the younger party build credit if the parent has established credit and is willing to become a party to the loan. The downside to cosigning is that the established party, who may or may not have any legal interest in the collateral (the car, house, or whatever is being purchased), is still on the hook if the primary signer fails to repay. Discuss roles and expectations in detail before entering into any cosigning relationship.

A stable society where goods and services are traded every moment relies on credit. It keeps the markets moving. Start small, avoid mistakes, and build a solid credit profile early. Making good choices and delaying gratification now will help tremendously if you want to build a solid financial future.

Source Ruoff Mortgage Newsletter