Terrence Tully - Classified Realty Group



Posted by Terrence Tully on 8/12/2020

A homebuying plan is a must-have, particularly for those who want to enjoy a successful property buying experience. Lucky for you, there are many things you can do to execute a homebuying plan to perfection.

Now, let's take a look at three tips to help you put your homebuying plan into action and achieve the best-possible results during the property buying journey.

1. Establish Realistic Homebuying Goals

As you craft your homebuying plan, it generally is a good idea to establish milestones. That way, you can take a step-by-step approach to go from homebuyer to homeowner.

Of course, it is paramount to set realistic homebuying goals. Think about why you are pursuing a home in the first place, and you can map out your homebuying plan accordingly.

It may be beneficial to hone your home search as well. If you narrow your house search to a select group of cities and towns, you may be better equipped than ever before to streamline the homebuying journey.

2. Maintain Flexibility

Although you may devote many hours to craft an effective homebuying strategy, it is important to remember that problems may arise as you search for your dream residence. Fortunately, if you maintain flexibility, you will be ready to adjust your homebuying plan as needed.

If you have to modify your homebuying strategy, there is no need to worry. Instead, adjust your plan and continue your pursuit of your ideal residence. Because if you are flexible as you search for your dream home, you can minimize stress and boost the likelihood of discovering a residence that may serve you well for an extended period of time.

3. Collaborate with a Real Estate Agent

When it comes to developing and executing a homebuying plan, you do not have to work alone. In fact, you can hire a real estate agent who is happy to help you find and purchase a terrific residence at an affordable price.

By consulting with a real estate agent, you can receive expert homebuying support. A real estate agent knows what it takes to acquire a first-rate home at a budget-friendly price, and as such, will work with you to ensure your homeownership dream can come true.

If you are unsure about where to search for homes, for example, a real estate agent can help you determine where to pursue residences. He or she also can help you get in touch with banks and credit unions so you can obtain home financing. Plus, a real estate agent is ready to help you submit an offer to purchase your dream residence. And if you have concerns or questions during the homebuying journey, a real estate agent is prepared to respond to them too.

For those who want to seamlessly navigate the homebuying journey, you may want to craft a property buying plan. Thanks to the aforementioned tips, you can get the most out of a homebuying strategy and ensure you can quickly find your dream residence.




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Posted by Terrence Tully on 8/5/2020

Buying a home is a life-changing event. As such, the decision to purchase a residence should not be taken lightly.

For homebuyers, it is paramount to get as much help as possible so you can discover a terrific house at a price that matches your budget. With support from an expert real estate agent, you should have no trouble acquiring a residence that meets or surpasses your expectations.

But what does it take to find the right real estate agent to assist you during your search for the perfect home? Here are three tips that every homebuyer needs to know.

1. Ask Family Members and Friends for Guidance

If a family member or friend recently bought a home, he or she may be able to provide real estate agent recommendations. Family members and friends are trusted sources, and their real estate agent recommendations may help you speed up the process of finding your dream house.

Your neighbors also may be able to real estate agent suggestions. They should be able to provide details about what it was like to work with a particular real estate agent so you can plan accordingly.

Of course, you should still perform plenty of research into a real estate professional's background and expertise before you hire this individual. Be diligent during your search for a real estate agent, and you can employ a real estate professional who will go the extra mile to help you discover a great house.

2. Search the Web

A simple web search of a real estate agent's name may enable you to learn a lot about this individual. In fact, a web search often provides a great way to find out about local real estate agents quickly.

Although a web search may help you examine a variety of real estate agents in your city or town, it is essential to fully evaluate a real estate professional's credentials.

If possible, search for client feedback about a real estate agent. This may help you determine whether to move forward with a particular real estate agent or shy away from this housing market professional altogether.

3. Meet Directly with Several Real Estate Agents

When it comes to finding the right real estate agent, nothing beats a one-on-one meeting.

Set up meetings with several local real estate agents. By doing so, you can get a better idea about whether a real estate agent can help you accomplish your homebuying goals.

It often helps to make a list of questions to ask a real estate agent before you meet with him or her. That way, you can gain the insights you need to make an informed decision.

If you feel comfortable with a real estate agent after a face-to-face meeting, don't hesitate to hire this professional. Remember, the sooner you start working with an expert real estate agent, the sooner you may be able to purchase your dream house.

Use these tips, and you can hire a first-rate real estate agent to guide you along the homebuying journey.




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Posted by Terrence Tully on 7/29/2020

Photo by Alex Qian from Pexels


Whether you’re remodeling your home or building one from scratch there are a few vintage features you may want to incorporate. No matter the style of your home—modern, traditional, country chic—these additions can fit seamlessly in your house. Work with your architect to see how you can add these details to your design plan. 

Functional —

Laundry Shoot: In a multi-story home a laundry shoot is a great built-in tool, especially for larger households. Without taking up too much space in the walls you can place a shoot upstairs that sends clothes right into a basket in the laundry room. Need to access from multiple stories? No problem, you can add access doors on each floor.

Phone Nook: A phone nook, or niche, historically housed a phone on a ledge or a wall-mounted phone. In a modern house, you can add a nook in any room. Include electricity and plenty of plugs so it can function as a charging station for smartphones, tablets and computers.

Aesthetic —

Ceiling Medallions & Tin Tiles: Medallions and tiles are gorgeous installations that add interest to ceilings. A medallion above an entryway light or dining room chandelier creates drama in an unexpected location. Medallions can match your ceiling color but are also available in gold leaf, bronze or even walnut finish. Tin tiles also come in many styles and colors. They look great on the ceiling but they also make a unique kitchen or bathroom backsplash.

Wood Paneling: Wood paneling doesn’t have to feel dark and dated. You can use all types of wood to fit with the style of your home. Paneling is often installed to cover a full wall but it can also be added as wainscoting. Consider using wood paneling to create geometric wall patterns like lattice and grids.

Both! —

Dutch Door: Dutch doors aren’t just for homes with farmhouse style architecture. These beautiful doors are functional as well. Open just the top half for great airflow during nice weather, without letting the dog or littles ones out!

Stained Glass Transom Window: Transom windows are a feature seen mainly in vintage homes. But why? These windows add an artistic touch while being functional. You can find stained glass designs that fit with any style, even modern industrial, or have a custom design created for your home. Select transom windows that open so that they work in conjunction with your home cooling system to allow rising hot air to circulate.

Pocket Doors and Shutters: Doors and shutters that slide into the wall or fold into a nook are extremely functional and aesthetically pleasing. Storing doors and shutters in the wall allows you keep wall areas open for decor while conserving floor space and creating additional options for furniture placement. 

Picture Rail Moulding: Moulding with a curved top that holds picture hooks, or an open bottom where you can attach holders is a great way to be able to move art around, hanging it from wire at different lengths and easily place it. The moulding is a nice and subtle décor feature in itself. 

When designing your home, add in all the new features we love today but don’t forget to consider some design features of the past that can really enhance your living space.




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Posted by Terrence Tully on 7/22/2020

Photo by Helloquence on Unsplash

When financing a home purchase, one of the most basic decisions to make is where to get your mortgage from. The basic options are whether you should go to a mortgage lender or not. Financing with a mortgage lender has both pros and cons.

Pro: Many Loan Options

If you go to a mortgage lender, you’ll find that they offer a great amount of choices. These are essentially brokers for various underwriting companies, and they offer many loan options. You’ll also have a wide variety of mortgage setups to choose from. Whether you want a 15-, 30- or 40-year fixed or some sort of variable loan, you can likely find it through a lender.

Pro: Might Be Able to Negotiate

The choices that mortgage lenders provide sometimes make it possible to negotiate with potential lenders. If you can pit multiple lenders against each other, you might be able to get a lower interest rate or complimentary points on your loan. A lender might even try to negotiate on your behalf.

Pro: Knowledgeable Guidance

At a mortgage lender, you’ll work with a loan officer whose sole job is to help homeowners find mortgages. They’ll be knowledgeable and able to provide you with informed guidance throughout the loan application and selection process.

Con: Might Not Be Local

Should you shop loans with a mortgage lender, it might not be someone local to your area who’s providing assistance. Often mortgage lenders service people across a state and even maybe in multiple states. As a result, there’s a good chance you won’t ever meet them in person.

Con: Might Sell Your Loan

Ultimately, mortgage lenders are in the business of underwriting and managing mortgages -- and that’s not necessarily the customer service business. If a lender deems it financially prudent to, they’ll sell your loan to another lender. Not only will you not deal with the same person or office, but you might not even deal with the same company down the road. Since mortgages last many years, there’s a chance yours could be sold multiple times.

Finding a Mortgage is a Personal Choice

A mortgage lender may be a good option if you’re looking for a great deal on a home loan, but they don’t offer a personal touch. If you want someone in your area and prioritize personal service, a credit union or other more local institution might be a better alternative for you. The decision to go through a mortgage lender or another place ultimately depends on what type of experience you want.




Tags: Mortgage   lending   Financing  
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Posted by Terrence Tully on 7/15/2020


 Photo by Benjamin Balazs via Pixabay 

Buying land can be a tricky matter for many people, especially when they're first getting started. No matter how valuable a property may seem at the time, it may not take very long to realize there were more strings attached than you thought. But while there are a few red flags to keep in mind, you don't have to let your nerves get the better of you. Before signing a contract, here are a few facts to keep in mind. 

Zoning Laws 

Chances are, you've likely already confirmed that the land has been zoned for building, but what you may not have considered is the extent of the zoning laws. Building in certain neighborhoods may be difficult to do, depending on the size and configuration of the property. You also may want to consider how future laws will affect your building. For example, if the neighborhood is likely to pass new laws to protect the environment, you need to keep in mind the expense and effort of compliance. Zoning hiccups may not prevent you from buying the property, it can just help you prepare for what's ahead. 

The State of the Land 

If you're buying property, you need to do more than just look at the site. You need to know if the soil has been contaminated while the land sat vacant, how fast the tree roots are growing, and whether the ground can support certain infrastructure. If the roots are moving close to the property site, you'll need to factor in the cost of removal. Buyers should also consider how the sunlight (or lack thereof) will affect the eventual inhabitants. If there are sun-blocking hills near the area, it could significantly reduce the demand of the property. 

The Neighborhood 

If you're looking for a bargain, it's likely going to come in the form of a fairly undesirable neighborhood. Building in an area like this may pay off in spades, or it may end up being a major mistake. Some people will jump on neighborhoods that are "up-and-coming" only to find that the wind changes direction soon after buying. Or they find that it takes too long for the neighborhood to become valuable. You need to think about what you'll do if you can't sell for the price you want (e.g., rent, etc.). Not every developer can wait a decade or more before the market shifts. 

Buying land can be a great way to both meet the housing demand in an area while generating profit for you. The key is to consider the most common scenarios (and problems) that may occur before moving forward.