Date Archives: February 2020

Better Homes and Gardens The Masiello Group's top agents, teams and the firm's other top performers will be honored at a prestigious awards ceremonies on March 10th and 11th. 

Congratulations to all! 

Emerald Elite Award

Individual agents achieve Emerald Elite with a volume of $12 Million+ or Closed Units of 57+ or more. 
Teams achieve Emerald Elite with a volume of 24 Million+ in Volume or 115+ Closed Units.

Platinum Award

Individual agents achieve Platinum with a volume of 8 Million –11.99 Million or Closed Units of 46 - 56.9. 
Teams achieve Platinum with a volume of 16 –23.99 Million or 92 - 114.9 Closed Units.

Gold Award

Individual agents achieve Gold with a volume of 6 –7.99 Million or Closed Units of 37 - 45.9. 
Teams achieve Gold with a volume 12 –15.99 Million or 74 - 91.9 Closed Units.

Silver Award

Individual agents achieve Silver with a volume of 3 –5.99 Million or Closed Units of 21 - 36.9. 
Teams achieve Silver with a volume 6 –11.99 Million or 42 - 73.9 Closed Units.

Bronze Award

Individual agents achieve the Bronze Award level with Closed Units of 15-20.9. 
Teams achieve the Bronze Award Level with a volume of 3.25 - 5.99 Million or 18-41.9 Closed Units.

Commercial Associate Award

If you are planning on using a VA loan to purchase a home this year there are several changes you should know about. 

Following the Blue Water Navy Vietnam Veterans Act of 2019, veterans and military service members will enjoy more borrowing power but pay slightly higher fees when applying for VA home loans. The Act was signed into law in June 2019 but took effect Jan 1, 2020.

Navigate these changes to VA loans with a little help from our team. Our REALTORS® highlight everything you need to know about using VA loans in 2020!

No VA Home Loan Limits in 2020

The VA loan limit is the maximum loan amount the Department of Veterans Affairs can guarantee a veteran or military service officer without making a down payment. The loan limit adjustment is a big win for veterans across the nation, especially for those buying in pricier markets. Extending the zero-down purchasing power will save many veterans a lot of cash and help them remain competitive.

However, the elimination of loan limits doesn't signify unlimited borrowing power with no down payment. Veterans will still need to have adequate income and meet their lender's credit demands to qualify for the VA loan amount. And if you still have impending VA loans or have defaulted on a previous loan, the loan limits will still be applicable throughout 2020.

Before this act went into effect, VA loan limits equaled the limits set by the Federal Housing Finance Agency on complying loans. In 2019, the limits were set to $484,350 in a typical US county and slightly higher in high-cost counties.

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Buying a home in a different state can be a daunting task, especially if you know little about the state and the applicable local property regulations. However, with proper planning, preparation, and thorough research, you can identify your top property choices. In this guide, our REALTORS® have pieced together helpful tips for buying a home out of state. 

1. Research Area Costs
   Explore the difference between the cost of living in your state and that of your desired new city, especially if you plan to live or vacation more often in the new state. Large cities usually have different costs of living depending on the neighborhood, so check options in various parts of the city. Evaluate all potential costs of buying the home before committing. Some cost implications may include costs of upgrading the home, closing and insurance costs, and repair or replacement of various appliances. Also, call insurance providers or agencies to get estimates.
2. Ask About Property Restrictions
   Before you even travel to view your preferred homes, ask about property restrictions in your new state. For example, if you're buying a rental property, call the homeowners association to see if you're able to rent out a property in that neighborhood. If you want to install a new pool, check local and neighborhood rules to ensure it's possible before taking the time to view the property.

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There are many reasons people opt for a smaller space. If you've decided to downsize to a smaller home, you'll reap many benefits, including a lower mortgage payment (if you still have one), lower utility bills, and a smaller area to maintain and keep clean.

Before you downsize to a smaller home you have to downsize your belongings. It's important to declutter your current home so your new home can be well organized with items that fit your new lifestyle. Our REALTORS® suggest the following tips help for downsizing to a smaller home:

• Consider Your New Lifestyle
  As you prepare to move, consider what your lifestyle will be like in your new home. Do you see yourself pursuing an old hobby? Or maybe you won't be pursuing a sport you still have your old equipment for, but you'll have plenty of room to ride your bicycle. Imagine living in your new home and determine what items will help support this lifestyle.
  
  
• Evaluate Your Furniture
  Furniture takes up a lot of space in a home and is difficult to move. Consider your smaller home and how many rooms it will have. If, for example, you'll have fewer bedrooms, you won't need as many beds, chests of drawers and other bedroom furniture. Check with your friends and relatives to see if anyone needs your excess furniture.
  
  
• Go Through Everything
  Go through everything in your home, because you may have boxes of items that you no longer use or want. Open all of them and sort through their contents, so you don't blindly move them to your new home. This also lets you eliminate duplicate items, such as extra sets of drinking glasses.
  
  

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Our REALTORS® are there to guide you every step of the way when it's time to buy a home. Still, it's important to understand what you're getting into – and how to advocate for your interests.

Buying a home can include twists and turns, even when everyone has the best intentions. Knowing which questions to ask will help you get the information you need to make an informed decision about your real estate options.

Don't forget these vital questions when you're getting ready to buy a home:

1. Why is the Seller Leaving?
   Understanding the seller's motivations will put you in a position to get a better deal. You don't have to offer more money to make a seller's day: For example, if there's a tight timeline for moving, you may be able to get price concessions in return for making a prompt commitment.
2. How Long Has the House Been for Sale?
   The longer a house is on the market, the more negotiating power a prospective buyer has. Houses can end up lingering on the market when the original asking price is too high. If more than 30 days go by, it means a more motivated seller. More than 60 is "red alert" for most sellers.
3. What Are the Neighbors Like?
   You might not see them every day, but next-door neighbors can be a blessing or a curse. Inconsiderate or loud neighbors can leave you dealing with a whole host of worries, from midnight noise issues to lawn debris ending up on your side of the fence. Meeting the neighbors in person is often a good idea!

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