Rob Dino DeNault - Century 21 North Shore/Storrs & DeNault



Posted by Rob Dino DeNault on 8/1/2017

Are you in a hurry to acquire a deluxe residence as soon as possible? Ultimately, you'll need to prepare accordingly to ensure you can beat dozens of homebuying rivals as you search for the perfect house.

Now, let's take a look at three tips to help homebuyers accelerate the property buying journey.

1. Track the Housing Market Closely

A diligent homebuyer will monitor the housing market and keep track of new houses as they become available. By doing so, this property buyer will be better equipped than others to pounce on an opportunity to purchase a top-notch house at a budget-friendly price.

Also, a homebuyer should consider getting pre-approved for a mortgage. With a mortgage in hand, a homebuyer can enter the real estate market with a clear understanding of how much he or she can spend on a house. Then, this homebuyer can map out his or her house search.

2. Don't Hesitate to Submit a Competitive Offer

If you walk through a home and feel comfortable with the residence, don't wait to submit a competitive offer on it.

Remember, the early bird catches the worm. And a homebuyer who waits too long to submit a competitive offer on a residence risks losing it to a rival.

To define a competitive offer, consider the current asking price for a residence as well as the prices of comparable houses in the same city or town. This housing market information will help you understand how one house stacks up against another and ensure you can submit a data-based homebuying proposal.

Furthermore, look at how long a home has been available. If a house has been on the market for several months, a property seller may be more likely to accept an offer that falls under his or her initial asking price.

3. Work with a Real Estate Agent

For those who want to relocate to their dream home in the near future, hiring a real estate agent is a must.

A real estate agent understands what it takes to discover a terrific house that won't force you to break your budget. As such, he or she will work with you throughout the homebuying process and ensure you can get the best results possible.

Typically, a real estate agent will set up home showings, negotiate with home sellers on your behalf and much more. This housing market professional will even allocate the necessary time and resources to learn about your homebuying goals and help you achieve these aspirations in any way possible.

Let's not forget about a real estate agent's active listening skills, either. A real estate agent will listen to your homebuying concerns and questions and is happy to respond to them at any time. That way, you can receive expert guidance as you navigate the homebuying process.

Ready to speed up the homebuying journey? Use these tips, and you can boost your chances of acquiring a wonderful residence at a price that matches or exceeds your expectations.




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Posted by Rob Dino DeNault on 2/2/2016

Buying a home can be an exciting time and there is no better time to buy and take advantage of low mortgage rates and prices. Buyer beware, just because it is a good deal you still need to do your due diligence before signing on the dotted line. Here are some potential purchase pitfalls to look for: Do-it-yourself anything Does the home you are purchasing have a great finished basement, new deck or three season addition? Check with city or town hall to make sure the work was done to code and the proper permits were pulled. Things not done to code can be expensive to fix and can ultimately lower the home's value. Structural problems Structural problems are a big red flag. Have a professional home inspection and if need be have a structural inspection on the home. Things to look for include doors and windows that don’t open and close properly and cracks along the foundation. Some cracks may be harmless and normal settling but typically the bigger the crack, the bigger the problem. Structural problems are usually a deal killer as they can be very costly to fix. Insect damage can be part of a much bigger problem. Signs of excessive termite or pest damage does not tell the whole story and often there is unseen damage inside the walls. This may require a special pest inspection to determine if the home's studs have been compromised thus affecting the home's structure. Water damage Another potential problem is water damage. Water damage can cause the failure of the foundation. Water needs to be always draining away from the house. Look for moisture or water stains in the basement. This may indicate a drainage issue. Also be sure to check if the home is in a flood zone. Water in the home can also cause mold. Mold can lead to many serious health issues and is expensive and time consuming to remove. Mold should always be removed by a professional specializing in mold mitigation. Electrical work Do-it-yourself electrical work or antiquated electrical can be a recipe for disaster. When looking at homes be wary of electrical work that has been added on over the years. If the home has an addition make sure to ask if the current electrical system is enough to handle the additional square footage. Be wary of older knob and tube wiring or aluminum wiring this can be very expensive to replace. A professional home inspector should always be able to help point out potential pitfalls in a home before you purchase it. Never skimp on peace of mind. To find a qualified home inspector you can check with the National Association of Home Inspectors.





Posted by Rob Dino DeNault on 12/15/2015

When you are looking to buy a home or refinance it is important that your credit is in tip-top shape. It is often a credit score that gets in the way of a home buyer and their dream home. Credit today means everything as far as your purchasing power. So if you want to be ready when opportunity knocks read on for some for smart ideas on how to keep your credit score going up.

1. Use your credit cards.

This may sound funny but it is important to have credit over having no credit. Paying in cash and over using credit cards isn’t always a good move for your credit score. Cards that are seldom used are often shut down or closed by the credit card companies. Because 30 percent of your credit score is based on your debt-to-credit-limit ratio you will want to have a high your total available credit. Having one account closed increases that ratio of available credit to debt and thus lowers your credit score.

2. Pay off your credit cards.

It may seem to make sense to pay off the highest-interest card first and save the most money in the end. But your credit score will get a bigger boost from knocking off the lowest-balance card. Instead of spreading your monthly payments equally among credit cards, pay down the lowest-balance card first and pay minimum balances on the rest. As you pay off each card, apply the money you would have paid on it to the next-lowest-balance card.

3. Don’t close cards once they are paid off.

The length of time you’ve had credit determines fifteen percent of your score. By closing your oldest account, you can shorten the length of your credit history causing a big hit to your score.

4. Keep the balance low

Much of your credit score is determined by your debt-to-credit-limit ratio on individual accounts. Maxing out one card raises your debt-to-credit-limit ratio and your credit score. So be sure to keep balances as low as possible. Try to target no more than 30 percent of your credit limit.

5. Stay away from retail-card accounts.

These are a big no-no. Retail store cards often have lower limits and higher interest rates. So running up balances on low-limit store cards affects your credit score more negatively than does using one or two bank cards. So in the long run the fifteen percent you were going to save on the one purchase will probably cost you more in the end.  





Posted by Rob Dino DeNault on 3/17/2015

According to Lawrence Yun, the National Association of Realtor's chief economist, the spring housing market is starting off strong. "If activity is sustained near present levels, existing-home sales will see their best performance in five years. The NAR expects sales to rise between 7% and 10% in 2012. What does that mean? Strong demand has melted away inventory in some housing markets with investors and first-time buyers vying for bargains, homes are being snatched up as soon as they hit the market. Prices may not be shooting up, but homes are once again selling at a rapid clip in many markets, draining the multiple-listing services and turning up the competitive pressure on buyers. Multiple offers and bidding wars are back. Lately if a buyer is not there the first day a home comes on the market, it's gone. When a quality property that is priced accurately comes on the market, it's not going to sit around. In some areas the competitive environment has already begun to nudge prices up slightly. Bargain prices and historically low interest rates are bringing buyers back. The belief among buyers is that the housing market has already turned the corner and that there won't be a better time to land an affordable home. National Association of Realtors President Moe Veissi, broker-owner of Veissi & Associates Inc. in Miami, says market conditions are improving as supply and demand have become more balanced.





Posted by Rob Dino DeNault on 7/15/2014

Getting a mortgage these days can be tough and it is even tougher for small-business owners. Potential self-employed borrowers usually have variability in their income streams. Today, banks are requiring more financial documentation from all buyers, and self-employed borrowers tend to face more scrutiny. Small-business owners may have a smaller income because they are typically knowledgeable about tax deductions and credits. This often reduces the amount of taxable income they have. Reducing the amount of taxable income on your tax returns means to the lender there is less income to qualify for a loan. There are ways self-employed borrowers can increase their chances of getting a home loan, however. Here are a few tips: What is the lenders history? Find out if the lender has a history of working with self-employed borrowers. Self-employed borrowers should focus more on finding a lender that will understand their situation rather than shop the loan rate. There are individual loan officers who will be able to think out of the box or come up with solutions. The lender you choose is key. Consider portfolio lenders. Portfolio lenders have more flexibility in originating loans because they don't have to sell the loan to Freddie Mac or Fannie Mae. Portfolio lenders hold their own loans. That makes a big difference in their ability to loan. Another option may to consider credit unions. Many credit unions also keep a good portion of loans on their books. Boost your income. Show you make as much money as possible on your tax return. You might need to amend your tax returns. Some lenders will look at a loan application again if they have sent in amended returns to the government. Sometimes by rethinking deductions and credits on income taxes, a borrower can increase his qualifying income. Of course, with this strategy, the borrower would also face a new tax bill.