First-Time Homebuyers: Follow These 10 Steps to Ensure Your Success

If you’re about to make your first home purchase, following these 10 steps will set you up for a successful deal.

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If you’re about to purchase your first home, there are 10 important steps you should follow to ensure your success. 

1. Check things out online. This is often the very first thing new homebuyers will do when they begin their search. 

2. Start saving for your down payment. While a typical down payment will range between 10% and 25%, there are currently financing options available that allow buyers to put down much less. 

3. Check your credit. This can be done through a major credit bureau or online using a service such as Credit Karma.

4. Decide on a Realtor. It’s important to work with someone who has been referred to you by a person you know and trust. 

5. Determine what type of home you want.

6. Consider the pros and cons of different neighborhoods. Having amenities, schools, or family nearby may help inform your decision on whether to purchase a certain home. 

7. Decide on a lender. Mortgage brokers will typically be better-suited to help you find a more personalized financing option than a lender at a traditional bank. 

Everyone wants a nice home, but it’s important to not overspend.

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8. Know your future employment plans. Do not change jobs during your home search, as this could jeopardize your financing. 

9. Decide on your budget. Everyone wants a nice home, but it’s important to not overspend. 

10. Visit open houses. This can be a great way to see what you like and dislike about various homes without the pressure of a formal showing. 

If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.

6 Reasons Why Real Estate Is the Smartest Investment

There are many reasons to invest in real estate, but today I’ll share the top six.

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Here are the six reasons you should consider investing in real estate:

1. Leverage. Leverage is a wonderful gift that real estate can give you. It’s the ability to borrow other people’s money to build your own wealth. You can buy and control something you didn’t pay full price for in cash up front.

2. Tax benefits. Investing in real estate can reduce taxable income by depreciating assets over time and writing off deductions. Unlike most other investments, there are some tax protections from the increase in value (i.e., appreciation). You can also defer taxes by doing a 1031 exchange and selling one investment property in order to purchase another. 

3. It’s a hedge against inflation. Many other investments, meanwhile, are often less stable.

4. Diversification. There are several worthwhile areas to consider investing in (stocks, bonds, metals, etc.), but make sure you don’t miss out on what’s available in real estate. 

5. Flexibility. Real estate is one vehicle that can serve many purposes. The first is income. Depending on the investment and how much you put down, you may see immediate positive cash flow from it. The second is long-term appreciation. Over the course of time, real estate tends to increase in value. The third option is a forced equity plan, which accelerates what you’d pay down on your mortgage balance and create more equity in your home. You can then borrow against the equity you have if you want to purchase another property and start the cycle all over again. 

Real estate is one vehicle that can serve many purposes.

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6. You have more control. The property itself is tangible—you can oversee it, inspect it, make improvements to it, and financially benefit from it. As we know, you need three things in order to survive: food, clothes, and shelter (in this case, real estate).

As with any investment, you’ll want to speak with an expert before making a decision. We at the Nimick Team take this duty seriously, and we treat our clients’ money as if it were our own. 

If you have any questions about investing in real estate, please feel free to give us a call or send us an email. We’d love to help you.

How We Helped Kevin Get a Cash Buyer

"We were selling a condo that we had originally lived in but became an investment property. So our primary goal was to have a quick close. Ultimately working with Dave we ended up with a cash buyer which naturally brings a much quicker end to the whole process so we were very happy with that. Because it's a team of people, they were available to make meetings - to meet with people at the condo at times that we weren't able to be there so, in other words, Sheila was there for the inspection. We did go through two different potential buyers which was a bit of a headache and required a number of visits to the condo. It was nice because we didn't have to go, they did it for us. Because it was an investment property and not a home we were living in, that was a great relief." -Kevin M.

The 5 Benefits of Selling Your Home in the Fall

Today I am sharing five reasons that the fall is a great time to sell your home.

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What are the benefits of selling in the fall? Today I am going to share five of these with you.

1. Buyers are often more serious in the fall. During the spring and summer, many buyers are more curious than committed. Fall buyers, meanwhile, are more serious and can suffer from having too many homes to choose from which makes them feel like they can be pickier and extend their search. This is because many have been searching throughout the summer and still have yet to find the perfect home. Fall buyers are forced to look for a home because of a new job, relocation, or because they need to before the holidays.

2. There is less competition. It is no secret that there are more homes listed in the spring and summer and that more buyers are looking at that time as well. However, with the larger number of homes to compete with, sellers in the spring and summer do not have a clear advantage. Also, the homes that are not sold by the end of the summer are often delisted by the unrealistic sellers who wanted to test the market. This is why, if you list in the fall, you can have the benefit of standing out as well as facing less competition than during the “hotter seasons.” The most important thing to remember is it only takes one buyer to buy your home.

3. It is easier to move up. If you are looking to buy a new home as well as sell your current home, then fall offers the best opportunity. You will enter the market with higher confidence and lower stress while sellers who were unsuccessful during the summer months will remain on the market desperate to sell. This will help negotiations work in your favor. 

The most important thing to remember is it only takes one buyer to buy your home.

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4. Different buyer demographics. While married couples and families often move early, millennials and those with kids who moved to college oftentimes wait until the fall. Employers also tend to wait until the fall to do their corporate relocations. Meanwhile, some buyers that do have the flexibility choose to wait to avoid the busy spring and summer markets.

5. You still have time to make those improvements. You will have time to finish all the little things you want to do before listing in the fall.

While you may be concerned that you have missed your chance, the truth is that now is a great time to sell. As long as you're positioned well for the market, you may see a very positive response from what are often motivated buyers.

If you have any questions about this or are interested in buying or selling, please feel free to contact me. I look forward to speaking with you soon.

How We Satisfied Dave

"They were very good. I was satisfied." -Dave D.

How We Made Heather Feel Comfortable

"I got great results. I listed my place and within two weeks I had a full price offer. The property that I was selling was actually a rental property that was occupied by tenants. So they just did a really good job kind of working with them as far as the showing, doing the inspection, scheduling, and working with them to where they felt comfortable and where I felt comfortable as well." -Heather S.

How We Were a Resource for Chris

"Dave was really helpful. The whole team was very helpful. So it was nice to have them as a resource there for all of our questions and all of the bumps and everything that could possibly go along the way." -Chris G.