Sharon Lanen Coskren - Leading Edge Real Estate



Posted by Sharon Lanen Coskren on 9/13/2019

Buying a house should be a worry-free experience. Yet problems may come up that prevent a property buyer from achieving the optimal results. Lucky for you, we're here to help you quickly identify and address various homebuying hurdles.

Now, let's take a look at three tips to help you minimize stress as you navigate the homebuying journey.

1. Plan for the Best- and Worst-Case Scenarios

An informed homebuyer should have no trouble enjoying a worry-free property buying experience. In fact, this buyer will understand the best- and worst-case scenarios and know exactly what to do even in a stressful homebuying situation.

In the best-case scenario, a homebuyer will instantly find his or her dream house, submit an offer to purchase this residence and receive an immediate "Yes" from a seller. Then, this buyer can finalize a home purchase and move into his or her new residence.

On the other hand, the worst-case scenario likely will force a homebuyer to miss out on the opportunity to acquire his or her ideal residence. This scenario may involve a failure to agree to terms with a seller due to many potential homebuying problems.

Homebuyers will want to do everything they can to avoid the worst-case scenario. Fortunately, if you learn about the housing market, you can gain the insights you need to plan ahead for the property buying journey. And as a result, you can increase the likelihood of finding and buying your dream house in no time at all.

2. Get a Mortgage

Let's face it purchasing a home is your dream, but you probably don't have the necessary finances to buy a house on your own. Therefore, you may need to get home financing before you can make your homeownership dream come true.

Applying for a mortgage may seem stressful, but lenders are happy to help you in any way they can. If you consult with multiple banks and credit unions, you can review a variety of home financing options.

Don't hesitate to ask questions as you complete a mortgage application too. If you address your mortgage concerns and questions with a home financing professional, you can alleviate the stress commonly associated with applying for a mortgage.

3. Work with a Real Estate Agent

A real estate agent is a homebuying expert who can respond to any concerns or questions that you may have. If you collaborate with a real estate agent, you can get the help you need to minimize stress at each stage of the property buying journey.

Typically, a real estate agent will learn about you and your homebuying goals and help you plan accordingly. He or she will keep you up to date about available houses in your preferred cities and towns and set up home showings. And if you find a house that you want to purchase, a real estate agent will help you submit a competitive property buying proposal.

Remove stress from the homebuying journey use the aforementioned tips, and you can reap the benefits of a worry-free homebuying experience.




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Posted by Sharon Lanen Coskren on 9/6/2019

As a homebuyer, you may want to consider the seller's perspective before you submit an offer to purchase your dream house. That way, you can boost the likelihood of receiving an instant "Yes" to your homebuying proposal.

Now, let's take a look at three tips to help you analyze the seller's perspective.

1. Review the Prices of Comparable Homes

Once you find your dream home, you may want to take a look at the prices of comparable residences in the same city or town. This housing market data can help you narrow the price range for houses in a particular area.

With insights into the prices of houses that are similar to your dream home, you can put together a data-driven offer to purchase. Perhaps best of all, you can avoid the risk of submitting a "lowball" homebuying proposal that misses the mark with a home seller.

2. Assess the Housing Market

The current state of the housing market may have far-flung effects on how much you should offer to pay for a residence.

For instance, in a buyer's market, there is an abundance of available houses and a shortage of buyers. This often means buyers can browse dozens of outstanding houses and won't necessarily face steep competition to acquire the right residence at the right price.

On the other hand, a seller's market favors sellers. It generally features an abundance of buyers and a shortage of top-notch residences. Therefore, if you're searching for a home in a seller's market, you may need to submit a competitive offer to purchase to secure your dream house.

Review the housing market closely so you can differentiate a buyer's market from a seller's market. If you find houses are selling quickly at or above sellers' initial asking prices, you likely are operating in a seller's market. Or, if you find houses linger on the real estate market for many weeks or months and sell at or below sellers' initial asking prices, you may be working in a buyer's market.

3. Collaborate with a Real Estate Agent

A real estate agent is a homebuying expert who can provide you with housing market insights that you may struggle to obtain elsewhere. Plus, he or she can help you evaluate the seller's perspective so you can submit a competitive offer to purchase the home of your choice.

Let's not forget about the assistance that a real estate agent provides throughout the property buying journey, either. A real estate agent can help you hone your home search and find your ideal residence in no time at all. Furthermore, if you have concerns or questions at any point during the homebuying journey, a real estate agent is ready to address them.

Want to purchase your dream house at a price that matches your budget? Consider the seller's perspective you'll be glad you did. If you review the seller's perspective, you can craft a competitive homebuying proposal and move closer to acquiring your ideal house at a budget-friendly price.




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Posted by Sharon Lanen Coskren on 8/30/2019

If you're renting a nice house, condo, or apartment, there's a good chance your monthly rent check is almost as much as a mortgage payment. Perhaps you've realized this and have been asking yourself why you're contributing to someone else's nest egg, instead of your own! If that sounds familiar, you may be ready to take the plunge into home ownership.

The other half of the equation is whether you're financially ready, and that would depend on a variety of things, including your credit rating, your debt-to-income ratio, and your ability to make a sufficient down payment on a new home. Although a 20% down payment is a desirable target to aim for, there's often a lot of flexibility on how much you're required to put down on a house.

One of the main reasons a 20% down payment is desirable is that it takes you "off the hook" for having to pay monthly private mortgage insurance (PMI). The second advantage of making a substantial down payment is that it reduces the principal amount of your loan, which, in turn, lowers your monthly payments even more. However, if you're ready to become a home owner, but can't afford a 20% down payment, you can often eliminate PMI payments earlier than scheduled by making extra principal payments. The bank or mortgage company you decide to work with can fully explain their policies and what your options are.

If you are interested in making the transition from renter to home owner, now's a good time to start talking to loan officers. If nothing else, you'll be educating yourself on the intricacies of buying a home. Working with an experienced real estate agent is another way to learn the ropes, so to speak, when it comes to the home buying process.

Other than the financial benefits of building equity in your own home, there are also a lot of practical advantages. If you're currently a renter, for example -- especially in an apartment building, duplex, or townhouse -- you're probably tired of the lack of privacy and the unwelcome noises you can often hear through walls, floors, and ceilings.

Becoming a home owner brings with it a pride of ownership and the ability to plant trees, bushes, and gardens on your own property. Depending on what's available in your price range, you can also enjoy your own private deck, screened in porch, or patio. Options for the kids (if you have them) include swing sets, sand boxes, and room to play backyard sports or run through a water sprinkler during the hot weather.

If you feel like you are ready to take the plunge into home ownership, the first step is to make lists of your requirements, your preferences ("wish list"), and financial resources. The next step is to find a good real estate agent to start showing you homes that fulfill your needs and check off as many items on your wish list as possible!





Posted by Sharon Lanen Coskren on 8/23/2019

Want to make your homeownership dream a reality? Get pre-approved for a mortgage, and a first-time homebuyer can move closer than ever before to acquiring his or her ideal residence.

Ultimately, there are many reasons to receive pre-approval for a mortgage, including:

1. You can establish a realistic homebuying budget.

Entering the housing market for the first time can be challenging. In fact, many first-time homebuyers struggle to establish realistic expectations before they begin their home search. And as a result, these homebuyers may end up spending too much for a house.

Fortunately, getting pre-approved for a mortgage enables a homebuyer to enter the real estate market with a budget in hand. This ensures a homebuyer can avoid the temptation to overspend on a residence.

Pre-approval for a mortgage also allows a homebuyer to map out his or her homebuying journey. With a plan in place, this homebuyer may be better equipped than others to acquire a top-notch residence that matches or exceeds his or her expectations.

2. You can speed up the homebuying journey.

Although a first-time homebuyer can always submit an offer on a home without a mortgage in hand, doing so may be tricky. In some cases, it may even slow down the homebuying process, especially if a homebuyer has to allocate significant time and resources to find a mortgage lender.

On the other hand, a homebuyer who gets pre-approved for a mortgage should have no trouble accelerating the property buying cycle. This homebuyer will know exactly how much money is at his or her disposal, and as a result, can speed up the homebuying journey.

3. You can gain a competitive advantage over rival homebuyers.

In many instances, a home seller may be more likely to accept a proposal from a first-time homebuyer who has been pre-approved for a mortgage versus an offer from a buyer who still needs to obtain a mortgage.

A homebuyer who has a mortgage likely won't have to wait too long to acquire a house. Conversely, a homebuyer who needs to apply for a mortgage after an offer has been submitted may need to wait many weeks or months to complete a home sale.

Clearly, there are many great reasons for a first-time homebuyer to receive pre-approval for a mortgage. For homebuyers who want to ensure the best results possible, it certainly helps to collaborate with an experienced real estate agent too.

An experienced real estate agent understands the ins and outs of the housing market and will do whatever it takes to help a homebuyer streamline the property buying journey. This housing market professional will set up home showings and negotiate with a home seller on a property buyer's behalf. Plus, he or she is happy to provide honest, unbiased recommendations to help a homebuyer make his or her homeownership dream come true.

Take the next step to acquire your dream residence get pre-approved for a mortgage today, and a first-time homebuyer can get the necessary financing to purchase his or her ideal house.




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Posted by Sharon Lanen Coskren on 8/22/2019

Prime location for this beautiful colonial set back off the road with enormous backyard. This home embodies the charm of yesterday with todays modern amenities and they just don't build them like this any more. Period details include coffered ceilings, window seats, built in cabinets, large pantry area plus crown molding. You will be stunned when you see the $250,000+ in renovations including updated kitchen, amazing bathrooms, new windows, electrical, furnaces, central air, plumbing, hot water heaters, patio, retaining walls, irrigation and insulation. Oversized front to back living room makes entertaining a breeze. Privacy abounds in the beautiful backyard with newer patio with great space for hosting friends and family. Relax and enjoy the summer breezes on your screened porch. Playroom/sunroom offers light filled space to play games and relax. This is a true gem that will not last!

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Sharon Lanen Coskren