If you're a first-time homebuyer, chances are you'll come across some terms you’re not familiar with. And that can be overwhelming, especially while going through one of the biggest purchases of your life. 
The good news is you don’t need to be an expert on real estate jargon. That’s your agent’s job. But getting to know these basic terms will help you feel a lot more confident throughout the process.
Terms Every Homebuyer Should Know
Once you’re familiar with this terminology, you’ll have a better understanding of important details – from contracts to negotiations. So, when those big conversations happen, you’ll feel informed, in control, and able to make the best decision for your unique situation. As Redfin puts it:
“Having a basic understanding of important real estate concepts before you start the homebuying process will give you peace of mind now and could save you a fortune in the future.”
Here’s a bo ...

Some Highlights
Once your offer is accepted, an inspector will assess the condition of the house, including things like the roof, foundation, plumbing, and more.
That information is incredibly important and paves the way for you to re-negotiate with the seller, as needed. So, you don’t want to skip this step.
An inspection is your chance to avoid costly headaches and get peace of mind. Let’s connect to talk about other ways to make your offer stand out. ...

Saving up to buy a home can feel a little intimidating, especially right now. And for many first-time buyers, the idea that you have to put 20% down can feel like a major roadblock.
But that’s actually a common misconception. Here’s the truth.
Do You Really Have To Put 20% Down When You Buy a Home?
Unless your specific loan type or lender requires it, odds are you won’t have to put 20% down. There are loan options out there designed to help first-time buyers like you get in the door with a much smaller down payment.
For example, FHA loans offer down payments as low as 3.5%, while VA and USDA loans have no down payment requirements for qualified applicants, like Veterans. So, while putting down more money does have its benefits, it’s not essential. As The Mortgage Reports says:
“. . . many homebuyers are able to secure a home with as little as 3% or even no down payment at all . . . the 20 percent down rule is really a myth.”
According to; ...

With all the uncertainty in the economy, the stock market has been bouncing around more than usual. And if you’ve been watching your 401(k) or investments lately, chances are you’ve felt that pit in your stomach. One day it’s up. The next day, it’s not. And that may make you feel a little worried about your finances.
But here’s the thing you need to remember if you’re a homeowner. According to Investopedia:
“Traditionally, stocks have been far more volatile than real estate. That's not to say that real estate prices aren't ever volatile—the years around the 2007 to 2008 financial crisis are just one memorable example—but stocks are more prone to large value swings.”
While your stocks or 401(k) might see a lot of highs and lows, home values are much less volatile.
A Drop in the Stock Market Doesn’t Mean a Crash in Home Prices
Take a look at the graph below. It shows what happened to home prices (the blue bars). ...

Some Highlights
Thanks to recent home price appreciation, homeowners have near record amounts of equity – and you may too. On average, homeowners have $311K worth of equity.
Once you sell, you can use it to fund your down payment on your next home or maybe even to buy a smaller house in cash.
If you want to find out how much equity you have, let's connect. Because it may make a move a lot more feasible than you'd think. ...