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1st Time Home Buyer ATL

Milla Murad | Realtor® | Real Estate | Atlanta | Georgia

  • About
    • Testimonials
    • Write a Testimonial
  • Buy
    • Buyer’s Guide
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    • HomeBuyerGuides
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    • Whats Your Home Worth?
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Hire an Agent When Building a House

Hire an Agent When Building a House - Milla Murad

Many homebuyers think they don’t need to hire an agent when building a new home. After all, you’re buying directly from the builder and they already have contractors, lenders, and inspectors. Why should someone else be brought into the mix?

The truth is, buying any home without an agent can be a costly mistake. It can mean paying more than you should, missed opportunities for upgrades, contract errors that aren’t in your favor or a delayed closing.

Thinking of buying a new construction home? Here are three reasons to have an agent on your side before visiting the sales office:

1. Expert Negotiation: While their advertising would have you believe otherwise, builder’s prices aren’t always set in stone. Agents are skilled negotiators who can likely get the price dropped slightly or have a few upgrades thrown in.

2. Preferred Vendors: Your builder might have an affiliate mortgage lender or title company, but chances are they aren’t going to offer the best deal. It’s important to shop around, and what’s better than a vendor your agent already knows and trusts?

3. Guidance and Support: The homebuying process can be complicated, with lots of twists, turns, and steps along the way. When buying new construction, you also have design reviews, electrical work, and other construction needs. An agent can guide you through all of these, making sure your purchase stays on track, on time and on the budget from start to finish.

It’s important to note that while you may be working with an agent or representative from the builder, they may not have your best interests at heart. Enlisting your own trusted agent can give you an advocate from the very first meeting to closing day.

Are you interested in buying a new construction home? Get in touch today for more info about builders in the area.

Posted in: Blog, Featured Blog Posts, Real Estate Tagged: atlanta, first time homebuyer, housing market, millennials, National Association of Realtors, new construction, Real Estate, real estate agent, realtor

Should you skip the starter house?

Gone are the days when a three-bedroom, two-bath starter home was the norm for first-time homebuyers. Today, many buyers are skipping that stage altogether and going straight for their dream homes. They’re buying bigger, more expensive properties with upgraded features, and they plan to live there for the long haul.

Not sure which type of property you should look for? Here are a few things to consider:

Why are you buying?
Are you mainly looking for a way to lower your monthly living expenses, or do you want a place to raise your kids and put down roots? Do you want this to be your only purchase, or are you willing to go through the process again in a few years?

What’s your budget?
Can you buy your dream home with what you can currently afford, or would that stretch your budget too far? It’s crucial to consider how much you’ll need to save for a down payment and how large of a loan you can qualify for. Your credit score and the expected interest rate will also play a factor.

How long do you plan to stay? 
Do you plan to be in the area for a long time or is there a chance you’ll need to move for your career, family or another reason down the line?

Is the market favorable?
What is the current housing inventory, and will you be competing with other buyers? Favorable market conditions mean you’ll get more house for your money, making it an ideal time to purchase a forever home.

Get in touch today if you’re ready to buy a new home. If you’re unsure about a starter home or forever home for your family, we can discuss what options are available to meet your needs and long-term goals.

Posted in: Blog Tagged: atlanta, economy, first time homebuyer, housing market, inventory, millennials, National Association of Realtors, purchase, Real Estate

Mortgage Interest Rate Prediction for remainder of 2017

Stock Market words on a thermometer to illustrate rising prices and values of investments

Inflation is a key indicator for where mortgage rates are headed.  In simple terms, when prices of goods and services go up, investors of mortgage backed securities lose return.  That is why when prices rise, so too do interest rates.  The last report on inflation saw a slight drop; from 1.8% to 1.4% from January to May.   With three jumps in interest rates this year, many projected a steady increase, but recently mortgage rates dropped slightly.  While I’m not a prognosticator of interest rates, all signs from here to about December 2017 look like they will remain very low, perhaps even a slight decrease.   That is good news for borrowers; especially the huge number of millennials that are taking advantage of low down payment mortgages and looser credit guidelines.

Inventory is getting better.  After three consecutive months, pending home sales reversed course in June in all major regions of the United States with the exception of the Midwest.  Almost all regions saw an increase in contract activity according to the National Association of Realtors®.

How about some more good news?  As I’m writing this blog the Dow Jones Industrial average hit a record high, approaching the 22,000 mark; powered largely by Goldman Sachs, JP Morgan Chase and a few others.

The economy certainly is showing signs of legitimate growth built on the right foundation.  Unemployment numbers SHOULD be next to improve and if and when that happens, we should see a solid run of economic prosperity.

If you are considering a real estate purchase or are considering getting a mortgage, now is a very good time to act.  You have to simply balance the prices of real estate and interest; but when you look at an amortization schedule you quickly place the value of low interest rates over slightly higher real estate prices.  Please let me know if I can help you in any way or if you simply have any questions you need answers to.

 

Posted in: Mortgage, Real Estate Tagged: 000, 22, amortization, Dow Jones, economy, Goldman Sachs, inflation, interest rates, inventory, JP Morgan Chase, millennials, National Association of Realtors, pending home sales, record high, stock market, unemployment, United States

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Real Estate team of a Real Estate Agent, Lender, Attorney, and Insurance Agent to coach you on 1st time home buying process. Seminars held quarterly.
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Milla made our first time home buying experience easy! Milla's knowledge of the market and her home buying steps simplified the process. Thank you Milla!

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FROM OUR BLOG

4 Tips for Decorating a Small Space

4 Tips for Decorating a Small Space

Whether it’s a cramped bedroom or an office nook, many homes have a small room that’s difficult to decorate.  Do you wish you could add more charm without forgoing square footage? Well, just because your space is limited, it doesn’t mean your style has to be.  Make your tiny area more usable and trendy with […]

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Milla Murad, Realtor® Village Realty 3423 Piedmont RD NE ATL,GA 30305
O: 404-965-4080
404-268-5565
MillaMurad@gmail.com
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