6 Reasons Why Winter Is Actually the Most Chill Time to Buy a Home By Jamie Wiebe

While it’s true that things do slow down in the winter, that’s not necessarily a bad thing. Yes, it’s cold. Yes, fewer homes are for sale. Yes, moving in a snowstorm is a pain no one should experience. But there are quite a few darned smart reasons to buy a home in the winter.


1. There’s less competition
Buying in the winter knocks out a large chunk of the buyer competition, allowing you to be a bit more selective with your home purchase.

2. Sellers are motivated—and willing to make a deal
Many people place their homes on the market at this time of the year because they need to and will be more willing to work with you.

3. You can put the house through its paces
In most climates, winter puts stress on the home. That gives you the perfect opportunity to evaluate the property under the worst conditions possible. A home that might seem perfect during the temperate spring could look wholly different in the winter.

4. Hiring movers is usually easier
Movers aren’t booked solid like in the spring and summer months. You might even be able to negotiate a lower price because of the chilled demand.

5. You can enjoy last-minute tax savings

If you’re purchasing your first home, buying in the winter gives you a few extra months of potential tax deductions although you should consider talking to a professional before getting too excited.

6. Homes close faster
You will be able to close your loan much faster, as wait times are much shorter during the holiday season.


For more information about the benefits of buying a home in the winter go to bmre.us/tip20

5 Home Staging Ideas That Work Wonders During Winter By Jeanne Sager

Winter is the time of year when most home buyers, like bears, retreat to their own cozy homes and hibernate. So what if you have a house you must sell right now, winter be damned? With fewer homes on the market, it’s easier to stand out!


Don’t skimp on curb appeal
Shoveling the driveway and paths to your home is a must. And you’ll want to clean out your gutters, so ice isn’t backing up and giving the impression that you have roofing issues.


Turn up the heat
When a buyer enters the house and wants to hurry up and get out of there because it is so chilly, it probably means they are going to have a bad memory associated with the home, no matter how great it is.


Fire up the fireplace
Hitting all of the buyer’s senses creates a memorable experience that will hopefully lead to them purchasing the home.


Add seasonal scents
Mulling seasonal spices such as oranges, cloves, and cinnamon on the stove, to go along with freshly baked holiday cookies cooling on a rack in the kitchen.


Pump up the holiday decor
The main reason is that buyers like to picture themselves in the home hosting holiday get-togethers, and it’s much easier to show them the potential of a house when it’s decorated for the winter months. A big wreath with a bright red bow on the front door does the trick.


For more winter staging ideas go to bmre.us/hint20

5 Ways You are Sabotaging the Sale of Your Home By Terri Williams

So you’ve finally decided to put your home on the market. You’ve planned your first open house, begun searching for new digs, and even made a mental packing list. Now all you have to do is sit back and wait for the offers to roll in, right?

Well, sellers, we don’t mean to freak you out, but we’ve got bad news: You just might be sabotaging your home sale. Obviously, that’s the last thing you’d want to do, but one wrong turn—or wrong decision—could hurt your chances of landing a buyer. And the most unsettling part? You probably have no idea you’re doing anything wrong.


1. Bad color schemes
When a buyer comes into your home, you want them to imagine it as their future home. The more difficult it is, the less likely they are to buy. The more muted the decorations and color schemes, the broader the reach and the better off you are.

2. Too much personal taste
Odd decorations divert buyers’ attention away from the home itself.

3. Bad odors
You might have become nose-blind to cigarette or pet odor, but savvy buyers will instantly pick up on funky smells—and that’s a sure way to drive them away.

4. Not being flexible for showings
The real estate market moves quickly, so if you want to sell your home you need to cater to the potential buyers’ schedules.

5. Disguising problem areas
In your quest to have a show-ready home, don’t cut corners. A fresh coat of paint might temporarily hide the appearance of mold, but it’ll likely crop up in the home inspection.


For more information on what not to do to sell your home go to bmre.us/hint19

The Home Appraisal Process and How It Can Impact Your Mortgage Payments By Jamie Wiebe

If you’ve applied for a mortgage, your home-to-be still has to undergo a comprehensive appraisal of its worth—and an unfavorable home appraisal can kill a real estate deal. Yikes! It can be a nerve-racking ordeal, but it’s actually good for you.


Appraisals estimate a home’s value with fresh eyes!
Just because you and the sellers have agreed on a price doesn’t mean it’s a done deal—your lender needs to be on board, too. After all, it’s the lender’s real estate investment as well. To get a mortgage, you’ll need a home appraisal because the home serves as collateral for your lender.


You’ll get a copy of the home appraisal, too.
An appraiser doesn’t have the same job as a home inspector, who examines every little detail. While they’ll pay particular attention to problems with the foundation and roof, the home appraisal process includes noting the quality and condition of the appliances, plumbing, flooring, and electrical system. With data in hand, they make their final assessment and give their report to the lender. The mortgage company is then required by law to give a copy of the appraisal to you.


Appraisers work for your lender—not you.
This ensures that appraisers remain ethical—in fact, it’s a crime to coerce or put any pressure on an appraiser to hit a certain value. Appraisers must remain independent.


They protect buyers from a bad deal.
If the appraisal comes in higher than your asking price, it’s generally fine.
Your lender won’t pony up more money than the appraised price.


A curveball appraisal isn’t necessarily the end.
If the appraisal process happens, your appraisal comes in low, and your contract with the seller was contingent on an appraisal, you could walk away and have your earnest money returned.
Ask the seller to cover the difference.
Challenge the appraisal, and pay for a second opinion.
Once your appraisal is done, you’re still not ready to close without another step called a home inspection.


For more information about the Home Appraisal Process go to bmre.us/tip18a

These 5 Factors Are Influencing a Home’s Asking Price By Wendy Helfenbaum

Ever gotten excited about a house for sale, then looked at the price and thought, “Are they out of their minds?” Yeah, me too.

It can be a disheartening moment when you’re house hunting. And that jaw-dropping asking price might simply seem like an arbitrary, money-grabbing number that’s keeping you from your dream home. But before you dismiss a house for being too expensive, you should know that there are a variety of reasons a property is priced the way it is.


1. What’s happening in your local housing market at any particular moment
Low inventory creates a seller’s market with aggressive listing prices. A surplus of homes for sale results in overall lower asking prices.

2. The (extremely specific) location of the house
Similar or even identical houses just streets apart from each other can have wildly different price tags based on things like traffic noise and access to quality schools, shops, and restaurants.

3. The comps
Historical data plays a huge role in setting a listing price; it’s not a number just pulled out of the air. So find an agent who can interpret that data.

4. The amenities (and overall appeal) of the home.

Clients prefer new construction, brand-name appliances, and large bedrooms—[preferably] at least three on one floor if they have kids—plus a den or office. Additional features such as parking, central air conditioning, outdoor space, and floor plan also affect the sticker price.

5. Age and condition of the home
If you want a newer, turnkey home, expect to pay more for that.


For more information on what goes into pricing a home go to bmre.us/tip17.

What Is a Comparative Market Analysis The CMA Explained By Audrey Ference

A home’s price is a moving target—based on where it is, when it’s listed for sale, whether it has that trendy open kitchen, all of it. So if you’re tasked with pricing your own home before putting it on the market, how do you figure out how much your place is worth?


A comparative market analysis estimates a home’s value based on the recent sales of similar real estate in the area.


Real estate agents create CMAs by looking at comparables, or comps—recently sold properties that are similar to your own home (or, if you’re a home buyer, the one you want to make an offer on). Similarity is key, since it gets you closest to an apples-to-apples comparison.


Comparable homes should be in the same or similar neighborhood, have similar square footage, number of bedrooms, bathrooms, features, and upgrades. It’s also important to make sure your CMA analyzes recent sales.


Another rookie mistake? Looking at listing prices on homes and assuming those are realistic comps. Those numbers may be inflated based on home sellers’ hopes of what they’ll get rather than reality.


While online home value calculators are a great starting point, they aren’t the end all, be all. Like any fully automated tool, they can’t take everything into consideration that a human could. A good Realtor knows the neighborhoods and the comps to your home.


Some market knowledge is harder to DIY. Every area will have different things that are desirable, and upgrades and extras will be worth more in some areas than others.


For more information on the subject ofComparable Market Anaysis go to bmre.us/hint15

Multiple Offers on a House Insights for Buyers Facing a Bidding War By Julie Ryan Evans May 16 2019

For sellers, getting multiple offers on a house is a dream. But for buyers who have fallen in love with a particular property, hearing that their offer is one of many can be maddening. Having to compete with other buyers means your chances of getting the home will likely be harder.
So what happens when multiple offers come in—and, most importantly, what are the chances of your offer rising to the top?


The seller can accept an offer outright, counter all offers, or choose to counter some of the offers and not others. The buyer’s terms and contingencies are also taken into account, as well as pre-approval letters, appraisal requirements, and the closing time the buyer is asking for.


Most sellers will ask the buyers who made original offers for their highest and best offer by a particular time or date. That gives you time to up your offer if you really want the property.


Don’t bank on being able to submit another offer, though. You may get only one shot to express your interest in a home, so if you truly love it, your first offer should be the highest and best offer.


If someone else is willing to pay more than you feel it’s worth, let it go and work on the next one.


If you do find yourself falling hard for a house, consider writing a personal offer letter directly to the sellers. Sometimes owners accept less money because they loved the letter they received.


For more tips on how to work a multiple offer scenario go to bmre.us/tip14

What Does Days on Market Mean and How Buyers Can Take Advantage By Margaret Heidenry

In the real estate game, many buyers understand that knowing a home’s days on market (DOM) is absolutely critical intel. Why? Because the number of days a home spends on the market directly affects the price of a home. Plus, this information can be used to the buyer’s benefit to negotiate a lower price. Here’s how!


Days on market’ is the number of days that a property has been listed on the local multiple listing services (MLS) until a seller has accepted an offer and signed a contract. It can also be referred to as “time on market” or “market time.”


A house that has only been on the market a few days typically means that home could go at the asking price or higher, but a home that has been on the market for a longer period of time, say 187 days, is likely overpriced in most markets.


Buyers and their agents can use days on market as a search filter to identify homes that have been listed for a long time.


While DOM can indicate sellers who are refusing to budge on their asking price, it can also identify sellers who haven’t received offers and who may be open to a dramatically lower offer. Because the last thing sellers want is for their house to get stale on the market.

What Is a Short Sale The Benefits for Buyers and Sellers By Judy Dutton

What is a short sale? Let’s break it down. Say you’re selling your home; however, the offer you get is so low, it won’t cover the total amount you owe your lender on your mortgage balance. But you need to unload it, so you’ll take it. This is a short sale—simply put, you end up “short” on paying back your lender, and your lender agrees to accept less than what’s owed on the loan.


According to recent data from real estate information company RealtyTrac, about 5% of all single-family home and condo sales are short sales.


While selling a home as a short sale is hardly ideal, many experts argue it’s smarter than pursuing more drastic measures like foreclosure.


Foreclosure is when a homeowner falls so behind on the mortgage payments, the lender repossesses the house, often against the homeowner’s will, then tries to sell it. If the amount the mortgage company receives from the sale is less than the mortgage debt owed, depending on state laws, the homeowner may have a deficiency judgment. In other words, the now-former homeowner may still owe money on the home loan.


The process and consequences are very different. For one, the foreclosure process typically happens very quickly, since lenders are eager to recoup the costs incurred by the unpaid mortgage.


While foreclosures can also be bargains, buyers should know that they come with a lot more risk than a short sale. For one, keep in mind that a foreclosure home is sold at a courthouse, sight unseen. So, there’s no time for a buyer to inspect the house for structural problems; you also inherit all liens tied to a foreclosure. In this sense, a short sale might be a safer transaction.

How Much Does a Home Inspection Cost By Lisa Kaplan Gordon

According to the U.S. Department of Housing and Urban Development, a typical home inspection costs $300 to $500. In most cases, it’s well worth it for buyers to hire a home inspector. The exact price will depend on the size of your home, where you live, and what you want inspected.


Home inspections are an important step in the home-buying process. As a buyer, your lender may not require you to get a third-party inspection in order to qualify for a loan. But most real estate agents recommend you get an inspection, for your own protection. You may be required to pay the home inspection fee at the time of service.


A professional home inspector, certified by the NAHI, is trained to use a home inspection checklist to look at over 1,600 features of your home that can fall into disrepair (who knew there were so many?).

A home inspector uses noninvasive methods to look primarily at the following:

Grounds for possible water or septic problems

Structure for foundation, window, or door problems

Exterior for rot, decay, and excavation problems

Roof for shingle, flashing, and fascia problems

Interior for framing, insulation, HVAC, plumbing, and electrical issues

Kitchen for electrical code compliance, operating cabinets, and plumbing problems


An inspection of a typical house takes two to three hours. What should not make a price difference is the thoroughness of the home inspection, the final written inspection report, and the photos the home inspector delivers to the client. These should be standard features of any home inspection—not extras. You, the buyer, should not pay an extra fee for them.


Every potential homeowner should spring for a termite inspection (if it’s not included in the standard inspection).


As a potential buyer, a home inspection is your authoritative proof of property problems. Most home purchase agreements are contingent upon the results of a home inspection, including a pest inspection. Armed with knowledge from your home inspection report, you may be able to either insist that the seller fix or repair certain issues before closing, renegotiate the price to reflect future repairs, or walk away without losing your earnest money.


Be aware that not all items on an inspection report are mandatory fixes or should be a cause to walk away from a deal. 

Should You Sell Your Home or Rent It Out 4 Times to Hang On Tight By Jillian Pretzel

While many homeowners reach a point where they decide to sell their place, here’s an alternative to consider for your own home: rather than sell, you may rent it out instead!


You may have assumed you would just sell your current house, but it could be smarter to hang on to your property instead. Here are four times renting out your house might make more sense than selling it—take a look to figure out whether it might make sense for you, too.


1. You don’t need to sell your house to buy your next one
If you don’t need to sell your house to get into your next one, you might consider renting it out for a while so you can enjoy some passive income—then sell later when the time feels right.

2. You’re able to qualify for a second mortgage
Meet with a lender who then crunches the numbers on your finances to see how much you can afford to borrow.

3. It’s a bad time to sell your house in terms of the market
The good thing about renting out your place is that, in some regard, you can time the market to see when the best time to sell would be.

4. Your house is in a good renter’s area, and renter-ready
So much of real estate is about supply and demand, so if there’s a big market, your home could be a great cash cow for years to come.


The first thing you need to ask yourself is ‘Do I need to sell this house because I need the money for something else?’  

5 Questions to Ask Before Selling Your Home and Why Missing Even One Can Cost You Dearly By Daniel Bortz Jul 10 2019

Selling your house is not as simple as just putting it on the market and waiting for offers from eager buyers to roll in. (Ah, if only…) If you have any hope that your sale will go smoothly, you’ll have to sit down, take a hard look at your house, and ask yourself a few questions.

1. Can I afford to sell my house?

• Professional photographs
• Landscaping
• Staging
• Closing costs

2. What do I need to disclose to home buyers?

• Be prepared to disclose some of your home’s flaws

3. Should I hire a home inspector?

• Pre-inspections give sellers the ability to fix problems ahead of time

4. Which areas of my home get the most attention?

• Living room
• Kitchen
• Master Bedroom

5. What do I have to leave behind when my house is sold?

• The law says that anything bolted to the wall or ceiling goes to the buyer unless specifically excluded in the contract.

A lot of thought must go into the decision to sell a home.

The answers to these questions and many more can be found by going to bmre.us/hint11

What Is a Half-Bath Or a Quarter Bath or Three-Quarter Bath for That Matter By Lisa Johnson Mandell Aug 1 2019

Next to the number of bedrooms, the number of bathrooms in a house is a huge selling point. But when perusing home listings, you’ll quickly realize that bathroom math isn’t so simple.  What exactly is a half-bath? Or a quarter-bath, or three-quarter bath, or “full bath” for that matter?

Let’s run through the numbers! Bathroom numbers, that is!

In order for a room to be listed as a “full bath,” it must contain four key fixtures: a toilet, sink, bathtub, and shower (or shower-bath combo).

A half-bath, also known as a powder room or guest bath, has only two of the four main bathroom components—typically a toilet and sink.  Most real estate agents will tell you that adding a half-bath to your home is one of the most profitable home improvements you can make.

A three-quarter bathroom most often has an upright stall shower, a sink, and a toilet. But in older houses or condos, a three-quarter bath might have just a sink, toilet, and tub, but no shower. In this case, the new owner almost always converts it to a full bathroom by installing a shower head over the tub, and enclosing it with a shower curtain. 

And finally, what of the humble quarter-bathroom? A room with just one of the four elements—typically a toilet. Quarter bathrooms are rare for good reason: Who doesn’t want to wash their hands after attending to their business? Another type of quarter-bathroom is just a shower, often located outside by a pool to rinse off.

Each bathroom must be listed separately, because this gives home buyers a better sense of the home’s features—and their options when they simply have to go.  You can go to bmre.us/tip10 for the full story.

Five Things to Know Before Building A House By Beth DeCarbo Aug 2 2019

Starting. Takes. Forever.

Waiting to break ground was the most frustrating part. It involved three major hurdles: Getting the floor plans approved by the development’s architectural-review committee, which meets monthly. Getting the final contract from the builder. Getting a construction loan from the bank.

Lots of expenses aren’t included in the price of the house.

You may pay $80,000 for the land, not including property taxes and property-owners association fees. Before construction could begin there are some preliminary steps required by the builder and the county where you reside. You might spend $1,400 for a required topographical map and tree inventory; $630 to outline the home’s footprint with stakes and tape; $800 for the architectural review; $3,000 to the development’s road-maintenance fund for wear and tear; $150 for a septic-system permit, and $450 to drill test holes for the septic system. These expenses couldn’t be included in the loan—because you don’t have a loan yet.

There are sneaky ways to save money.

Buying remnants of granite and quartz for the countertops instead of full slabs of stone saves several hundred dollars. You might pay only $100 for a floor-model sink that has been discontinued. You can ask the appliance store manager for a discount on a kitchen-laundry package. And finally, plant much of the landscaping yourselves and save an estimated $5,000.

Asked more questions about cost-savings upfront instead of just pursuing your dream design.  Ask how much you can save if you choose a floor plan with a smaller footprint, but the same square footage? The cost of site prep, cement and roofing would be far less.

For more questions to ask before building a home go to bmre.us/tip9

Staging and Selling a Home With Kids Yes You Can By Larissa Runkle Jul 24 2019

Staging your home is universally acknowledged as one of the most important things you can do to make it appeal to potential buyers. Few expect a home occupied by children to be perfect; that said, it should still adhere to some of the basics of staging, by being clean, inviting, and depersonalized.

It’s psychological. A dirty-feeling house implies nothing is well-maintained—not your appliances, or even the wooden floor concealed by a large area rug.

Find out what’s absolutely essential to normalizing the day to day for the children, and get a storage space to put any overflow.  Remove larger toys that might otherwise dominate the room, like play sets, dollhouses, or that 4,000-piece Lego Death Star set.

The toys you keep are the ones kids play with every day.  Rather than leave them out, get containers and shelving. To maintain organization, it’s important to place the toys back in a manner where it’s easy for the kids to help in the cleanup process.

Labeling the containers, baskets, and bins gives the look a finishing touch but makes it easy for everyone to identify where things go back.  If your kids are too young to read, use pictures instead.

Now isn’t the time for art projects.  Pack up tempting supplies like paint, markers, crayons, and glitter.  

Another good point is to watch what you cook on showing days. Here’s a tip: Skip the waffles and maple syrup for breakfast. In fact, keep any sticky, high-spatter foods off the menu for those days.

Clean [off] fingerprints and sticky handles that people may open, like closet doors, appliances, doorknobs, mirrors, and glass.

It may be a challenge to sell a home with young children living there.  For more details on how to stage and sell a home With Kids go to bmre.us/hint9

4 Ways to Keep Your VA Loan on Track By Veterans United

Pre-approval is a big step in the home-buying process. It shows real estate agents and sellers you’re a serious candidate and gives you a clear sense of your purchasing power.

But VA loan pre-approval isn’t a guarantee.

Work hard to avoid these four pitfalls to help keep your VA loan on track.

1. Slipping up on credit

2. Making major purchases

3. Undergoing big career changes

4. Packing up important documents

The last thing you want is a surprise change that may throw a wrench into your journey to homeownership. So in the end, ask your loan team if there’s anything you’re unsure about.

Want to learn more? Check out our Veterans Guide to Homeownership and get started on your home-buying journey. To get the guide go to bmre.us/valoan 

The One Thing That Can Make or Break How People Feel About Your House By Kelsey Ogletree Jul 31 2019

Considering the time and energy homeowners put toward making their house look great (particularly if they’re trying to sell), many make the critical mistake of neglecting another one of our senses that can be far more powerful: smell.

Even if you’ve decorated or staged your home perfectly, if potential buyers walk in and detect an unpleasant odor, they could skedaddle fast. Good scents, on the other hand, entice them to linger.

It’s often the first thing a person will notice upon entering a space—and it’s one of the things that, when done poorly, can kill a sale, no matter how beautiful the home.

Before considering what options you have for making your home smell amazing, you want to be sure you’re starting fresh. The first step to a good-smelling home is to get rid of any odor.  Make sure to scrub all surfaces, wash all rugs, and have the carpets cleaned. Until this is done, you’ll only be masking smells.

• Scrub down the bathroom
• Freshen the fridge
• Take out the trash
• Get underfoot, clean rugs and floors
• Don an apron, bake some cookies
• Just add soap
• Play with matches
• Focus on essentials
• Raid your laundry room
• Simmer vanilla extract diluted in water on the stove
• Find one neutral, mild scent and let it breathe

The definition of ‘pleasant’ when it comes to the olfactory senses can vary widely from person to person, so it’s best to keep the scent subtle and clean throughout, with a special emphasis on the kitchen and bath.

For a deeper dive into scents that sell homes go to bmre.us/hint8

The 5 Biggest Mistakes Veteran and Military Home Buyers Make By Angela Colley Aug 20 2019

The U.S. Department of Veterans Affairs offers plenty of great programs to help those who have served in the military get a home loan, but the process isn’t foolproof.

Mistake No. 1: Not using a VA-savvy real estate agent.  Save yourself the headache of making an offer on a house that may not get approved, or for which you may not qualify for a VA loan.

Mistake No. 2: Not communicating with your lender.  When you first meet with your lender, be sure to discuss your service member status so you can be informed about all of the potential advantages for veterans.

One of the biggest benefits you’ll get with a VA loan is the ability to buy with a 0% down payment (yes, we’re totally serious).

Mistake No. 3: Forgetting about all upfront home-buying costs.  You’ll likely have to plunk down a bit of cash for things like a home appraisal and inspection.

Mistake No. 4: Not thinking of your home as an investment.  By searching in high-demand areas or choosing a popular home style and size (say, 1,500 to 2,000 square feet), you’ll give yourself a better chance at resale if you need to move later. Or, you can hang on to it and rent it out.

Mistake No. 5: Making other big purchases before closing.  Opening a line of credit or making a big purchase after mortgage approval is a common mistake.  This can oftentimes change the veteran’s credit score and make them ineligible for the loan.

Wait until after closing to make any other financial moves, just to be on the safe side and to keep your loan on track.

For more details on these 5 mistakes to avoid go to bmre.us/tip7