How long does it take to buy a house?

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How long does it take to buy a houseHow long does it take to buy a house?

Today buying a house takes longer than ever due to new lending regulations. The actual house hunting process takes only as long as you want it to. If you need to stick to a specific timeline you’ll want to keep in mind the following information and plan accordingly.

At the very beginning of your home search, you start with getting pre approved and meeting with a Realtor. Getting pre approved doesn’t take long at all and can generally be done in one day.

Once you are out looking at homes, you never know when you’ll find that perfect one. Your dream home could be the first home you see, or it could be the eighth. Putting in an offer and negotiating with the sellers takes around 1-2 days. Upon receiving an accepted contract, your lender has to start the ball rolling on their end. That is the piece that takes the longest.

Right now it’s taking on average 45-60 days to get from contract to closing. This is because in Fall of 2015, new regulations known as TRID were enacted. In very basic terms, TRID is meant to protect consumers by providing very clear and accurate disclosures of all fees. It also requires that lenders provide a closing disclosure at least 3 days before closing. So if you are planning on buying a house, plan on it taking a minimum of 60 days.

Questions about buying a house? Ready to start looking?
Contact The Lowry Team today at 513-368-3751

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The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

How much does a Realtor cost when buying a house?

5 Reasons 2016 is the Year to Buy a House

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

How do I choose the right lender?

How much down payment do I need to buy a house?

Where are interest rates headed?

Why Use a Real Estate Team Instead of a Single Agent

Can my real estate agent represent me on new construction?

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How Much Does a Realtor Cost When Buying a House?

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How much does a Realtor Cost When Buying a House?

How Much Does a Realtor Cost When Buying a HouseHome buyers pretty much always ask the same question when starting their home search: how much does it cost to use a Realtor? The answer might surprise you!

A Realtor’s services are invaluable to you in any real estate transaction, but no one wants to spend more money than they have to on Realtor fees. So good news! All the services of a Realtor and their entire team are free to you as a buyer!

You might be wondering how that is possible. Well, it’s because the buyers agent’s fees are paid for by the seller of whatever home you decide to purchase. So if you were worried about how much using a Realtor to find your dream home was going to cost you, relax. You seriously get all the benefits of working with a Buyers Specialist and their whole team, for free!

Ready to start searching for a house? Contact The Lowry Team at 513-874-1830

Request a Free Buyer Consultation Here 

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The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

5 Reasons 2016 is the Year to Buy a House

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

How do I choose the right lender?

How much down payment do I need to buy a house?

Where are interest rates headed?

Why Use a Real Estate Team Instead of a Single Agent

Can my real estate agent represent me on new construction?

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

How do I choose the right lender?

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How do I choose the right lenderHow do I choose the right lender? 

When buying a home, the first step is to get pre approved. However, that can be easier said than done. Many home buyers aren’t sure how to pick the right lender for their home mortgage.

Some buyers just go with their bank where they have their checking and savings accounts. However, that’s not always the best choice. There are many reasons to at least speak with a second lender to see how they compare.

Some lenders might be able to save you a lot more money than your bank would. This can be for various reasons; sometimes they can offer a better interest rate on your mortgage, and some lenders will even waive or reduce fees to earn your business.

Most home buyers typically look at homes and write offers in the evenings or on the weekends when they are off work. But guess what, banks aren’t open at those times. It’s nearly impossible to get in touch with a typical bank lender in the evening or over the weekend.

Lenders who work for smaller companies are much easier to get in touch with late in the evening or over the weekend. They don’t set strict hours for themselves from 9-5 and will go the extra mile to make sure you are taken care of.

In this market, when you find a home you love, you have to move fast. The ability for you or your agent to easily get in touch with your lender can mean the difference between you getting or losing your dream home.

The Lowry Team has over 16 years of real estate experience and can confidently recommend a great mortgage lender to help you purchase your dream home. Contact The Lowry Team today to get started.  513-874-1830

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The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

How much down payment do I need to buy a house?

Where are interest rates headed?

Can my real estate agent represent me on new construction?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

Can my real estate agent represent me on new construction?

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Can my real estate agent represent me on new constructionCan my real estate agent represent me on new construction?

Yes! You can and should use a real estate agent to represent you with a new construction home purchase.

If you skip using a real estate agent for building a new construction home, you will be entering into a complicated, legally-binding contract for hundreds of thousands of dollars WITHOUT representation. Doesn’t that sound like a very bad idea?

You might say, “But there is an agent working for me with the builder.” Unfortunately, that’s where many people are misinformed. The agent you meet at a model home or when you call a builder, does not work for you. That is the “Builder’s Rep” and they work for the builder. Without your own real estate agent, there is no one watching out for your best interests.

Bottom Line: When making quite possibly the biggest purchase of your life, you definitely want your own real estate agent to represent you.

Thinking of building a new house?
Contact The Lowry Team today to get started. 513-874-1830

new construction homes for sale

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

Oaks of West Chester – New Construction

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

How much down payment do I need to buy a house?

Where are interest rates headed?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

Renting vs Owning in 2016

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Renting vs Owning in 2016Renting vs Owning in 2016

Trying to decide between buying a home or renting another year? Recent data might help you make up your mind.

There are currently low rental vacancy levels and a lack of new rental construction, which are driving rents up significantly. Rents are expected to outpace home price appreciation in the upcoming year. What does that mean for you? It means that renting is going to be more expensive than owning a home.

Average Rent in the USA recent Wall Street Journal article reports that “rents rose faster last year than at any time since 2007”. On average rents rose by 4.6% in 2015; when over the previous 15 years they had only risen an average of 2.7% annually. Zillow‘s 2016 Housing Market Predictions state that “rising rents won’t let up in 2016, and will continue to set new records. [2016] will bring the least affordable rents ever.”

Many people choose to rent just because they aren’t comfortable taking on the obligation of a home mortgage. However, unless you are living with family or friends rent free, you are paying a mortgage – either your own or your landlord’s. Wouldn’t you much rather put that money back into your own pocket? A home mortgage is like a forced savings which builds you equity in your home that you can use later on in life. If you are renting, you are only building your landlord’s equity.

Right now interest rates are at historic lows, but they are projected to increase steadily throughout 2016. Your window of opportunity to get a low interest home loan is closing. An increase in mortgage rates of 0.5% is equal to a 10% increase in home prices and affordability, which significantly increases your monthly payment. So the question you should ask yourself is, can you really afford to keep renting?

Questions about buying a house? Contact The Lowry Team today at 513-874-1830.

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The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

How much down payment do I need to buy a house?

Where are interest rates headed?

What does it take to buy a home in today’s market?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter

5 Reasons 2016 Is The Year To Buy A House

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If you’ve been considering buying a house, 2016 is the year to take the plunge. Several factors have all come together, creating a perfect storm for home buyers to get out there and purchase a home. Here are the top 5 reasons why 2016 is the year to buy a house…

Reason #1: Interest rates are at record lows5 Reasons 2016 Is The Year To Buy A House
While interest rates are at historic lows (hovering right around 4% on average), The Federal Reserve is expected to increase interest rates soon. That means your window for getting a record low interest rate is closing. It’s expected that we will never see interest rates this low again.
Where are interest rates headed

Reason #2: Down payment requirements won’t break the bank
The actual amount required for a down payment to buy a home is significantly lower than most people realize. There are currently many low or no down payment options for buyers purchasing a home.
How much down payment do I need to buy a house

Reason #3: Home prices are stabilizing
Home prices that have been climbing steadily over the last few years are finally stabilizing, creating a great opportunity for buyers to finally get out there and purchase a home. This creates a more level playing field for buyers so they can drive a harder bargain with sellers.

Reason #4: Credit Score requirements are low
The actual credit score needed to qualify to buy a house is currently much lower than many people think, and has been dropping steadily over the last several months. 
What credit score do I need to buy a houseReason #5: Rents have skyrocketed
Rents have increased faster last year than at any time since 2007, and are expected to continue to climb throughout the year. Often times, buying is a better deal than renting. You could end up paying signficantly less each month for housing. Either way, you’re paying your landlord’s mortgage or you’re paying your own. Wouldn’t you rather put that money back into your own pocket?

Questions about buying a house?
Contact The Lowry Team today at 513-874-1830.

Search houses for sale in Cincinnati

The Lowry Team – Keller Williams Realty is an award winning, full service real estate firm specializing in West Chester, Liberty Township, Mason, Monroe and the Northern Suburbs of Cincinnati. The Lowry Team is “Different By Design”… taking a team approach to home buying and selling. The Lowry Team consists of members that are focused on areas of specialization including Listing Specialists, Buyer Specialists, Transaction/Listing Coordinator, Inside Sales Associate and a Marketing Director.

Don’t Hire an Agent…Hire a Team.  The Lowry Team.

Buyers and Sellers can reach The Lowry Team Keller Williams at 513-874-1830.

Other Articles You May Be Interested In:

Search the entire Cincinnati MLS for Homes For Sale

Find Out The Current Market Value Of Your Home

A Complete Guide to Buying a Home

What credit score is needed to buy a house?

How much down payment do I need to buy a house?

Where are interest rates headed?

What does it take to buy a home in today’s market?

Buy a Home With a Low Down Payment

Buying a Home Step 1: Get Pre Approved

Connect with us on Facebook

Connect with us on YouTube

Connect with us on Twitter