Nikki Buys Houses/NextHome Music City Realty

Questions to Ask About the Neighborhood Where you live should reflect your lifestyle. These questions will help you find the best community for you. Is it close to my favorite spots? Make a list of activities you engage in and stores you visit frequently. See how far you would have to travel from each neighborhood you’re considering to engage in your most common activities. Is it safe? Contact the police department to obtain neighborhood crime statistics. Consider not only the number of crimes but also the type and trend. (Is crime going up or down?). Pay attention to see where in the neighborhood the crime is happening. Is it economically stable? Check with your local economic development office to see if household income and property values in the neighborhood are stable or rising. What is the ratio of owner-occupied homes to rentals? Apartments don’t necessarily diminish value, but they indicate a more transient population. Are there vacant businesses or homes that h...

How to Prepare to Finance a Home Develop a budget. Instead of telling yourself what you’d like to spend, use receipts to create a budget that reflects your actual habits over the last several months. This approach will better factor in unexpected expenses alongside more predictable costs such as utility bills and groceries. You’ll probably spot some ways to save, whether it’s cutting out that morning trip to Starbucks or eating dinner at home more often. Reduce debt. Lenders generally look for a debt load of no more than 36 percent of income. This figure includes your mortgage, which typically ranges between 25 and 28 percent of your net household income. So you need to get monthly payments on the rest of your installment debt—car loans, student loans, and revolving balances on credit cards — down to between 8 and 10 percent of your net monthly income. Increase your income. Now’s the time to ask for a raise! If that’s not an option, you may want to consider taking on a se...

Questions to Ask When Choosing a REALTOR® How long have you been in residential real estate sales? Is it your full-time job? Like most professions, experience is no guarantee of skill. But much of real estate is learned on the job. How many homes did you and your real estate brokerage sell last year? This will touch on how much experience they have, and how up-to-date they are on the local market. What designations or certifications do you hold? Real estate professionals have to take additional specialized training in order to obtain these distinctions. Designations and certifications help define the special skills that an agent can apply to your particular real estate needs. One designation sellers might for is the CRS®, or Certified Residential Specialist, but there are also specialists for military customers, seniors, and those who are considering a short sale, among others. How many days does it take you to sell a home? How does that compare to others? The REALTO...