Svetlana Sheinina


Posted by Svetlana Sheinina on 12/26/2017

If you plan to buy a house, you'll want to apply for a mortgage before you launch your house search. That way, you'll have your finances in order and can narrow your home search accordingly.

Ultimately, there are several steps that you should take prior to applying for a mortgage, and these are:

1. Check Your Credit Score

A bank or credit union likely will analyze your credit score as it reviews your mortgage application. However, you can find out your credit score free of charge before you kick off the mortgage application process.

You are eligible to receive a free copy of your credit report annually from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Submit a request for your credit report today, and you can receive comprehensive insights into your credit history.

2. Examine Your Earnings and Debt

How much you currently earn and your outstanding debt could play pivotal roles in your ability to acquire a favorable mortgage. Thus, you'll want to examine these factors closely so that you can better understand how lenders will view your mortgage application.

Also, if you have lots of outstanding debt, there is no need to worry. If you allocate the necessary time and resources to learn about your debt and pay it off, you can increase the likelihood of obtaining a favorable mortgage.

3. Establish a Budget

Although a mortgage may prove to be essential to buy a house, it is important to consider various homebuying expenses as well.

For example, you may need to pay closing costs, home inspection fees and other expenses throughout the homebuying process. If you're worried about having the necessary finances to cover these costs, you may want to start saving money for them as soon as possible.

It often helps to account for the costs associated with cable, electricity, internet and other home must-haves too. The aforementioned homeownership expenses can add up quickly, but those who plan ahead can ensure they have sufficient funds available to cover these costs.

As you prepare to search for a house, it usually is a great idea to hire a real estate agent. This housing market can help you prepare for each stage of the homebuying cycle and ensure you can achieve your homebuying goals.

Typically, a real estate agent will meet with you and find out what you want in a dream house. This housing market professional then can keep you up to date about residences that match or exceed your expectations.

Perhaps best of all, a real estate agent understands that no one should be forced to overspend to acquire their ideal residence. As such, this housing market professional will make it simple for you to discover a terrific house at a budget-friendly price.

Lastly, don't hesitate to reach out to a real estate agent for guidance before you apply for a mortgage. With a real estate agent at your side, you can learn about lenders in your area and find one that can provide you with the financing that you need to purchase your dream house.




Tags: Buying a home   Mortgage  
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Posted by Svetlana Sheinina on 8/22/2017

If you’re looking to make a new investment in property, buying fixer uppers could be for you. If you want to flip a house in order to sell it for a profit in the future, you’ll need to keep a few things in mind when searching for the right houses to flip. 



What Could The Property Sell For After It Is Flipped?


As you look at different properties, think about your end game. Choose a property to flip that you see a lot of potential in. Envision the property and keep a post-flip listing price in mind. You’ll need to have some other numbers in mind when determining the final price for the property. These include:


  • Construction costs
  • Desired profit percentage
  • Fees


Understand the amount of profit that is left for you after all fees and expenses are taken into account. You want to be sure that the property is worth it for you as an investor.


Have A Vision For What The Property Needs


The kitchen and the bathroom are very important when it comes to property values and the attractiveness of a property. many times, these will need to be redone. The kitchen and bathroom also tend to be the most expensive rooms in the home to renovate. Also, consider adding amenities to the home. These could include beverage coolers, kitchen islands, fireplaces, or additional bedrooms. The home should have the things that will appeal to a large number of buyers. Also, consider the area where the home is located. A fireplace may not be as important in Los Angeles as it is in Vermont. Even simple things like changing paint colors make a huge impact in the home. If you need help finding your vision, just remember that buyers want to be able to see themselves in the home.              



Find Dependable Help


If you’re going to flip houses, you’ll need to have a list of dependable people ready to get to work. These will include contractors and builders. You’ll eventually build an entire network of people who can be of service to you. You need to avoid making any changes   that are personal to you. No matter how much you love the house, you shouldn’t make any elaborate changes that might be seen as ornate by another party. 


Keep Things Fresh


If you stay on top of trends, you’re more likely to get more return on your investment in flipping houses. While you want to stay on budget, technology is key in today’s housing market. People want smart homes with automated lighting, speakers, automated temperature controls, and more. If you don’t have the budget to do the whole entire house this way, keep the improvements to key areas of the home like the entrance or living room.


Build A Good Reputation


House flipping can sometimes be seen as a shady business. If you build a good reputation and always do business in a way that has the buyer’s best interest in mind, you’ll succeed in house flipping. 


Flipping houses may not be for everyone. Yet, with the right planning, you can find some success and satisfaction in home renovations.





Posted by Svetlana Sheinina on 5/30/2017

Looking to buy a house in the next few months? Ultimately, a cautious approach to purchasing a residence may prove to be ideal, and perhaps it is easy to understand why.

There are many reasons to err on the side of caution as you search for your dream house, including:

1. You don't want to pay too much for a house.

Although acquiring your dream house may seem priceless, it is important to remember that the costs to purchase a residence can add up quickly. As such, if you're not careful, you risk overspending on a house.

Lucky for you, there are many simple ways to avoid the temptation to bid too much on a residence.

First, analyze the housing market closely and search for patterns and trends. If you discover an abundance of houses is available, you may be operating in a "buyer's" market. As a result, you may be better equipped than ever before to acquire a top-notch residence at a budget-friendly price.

Don't forget to get pre-approved for a mortgage prior to starting your home search too. That way, you can enter the housing market with a mortgage – and budget – in hand.

2. You want to find a house that you can enjoy for years to come.

A home is one of the biggest purchases that an individual will make in his or her lifetime. Thus, it is important to allocate the necessary time and resources to assess a house before you submit an offer on it.

Of course, a home showing is a must prior to the submission of a home offer. A home showing allows you to walk around a residence and envision what life might be like if you purchase this home.

After you submit an offer on a house, you'll likely have the opportunity to complete a property inspection before you finalize your home sale. This inspection is important, as it enables you to learn about any "hidden" problems that may have gone unnoticed during an initial home showing.

If you feel comfortable with a residence after an inspection, you can move forward with a home sale. Or, if you aren't comfortable with a house at this point, you can always submit a counter-proposal or remove your offer entirely.

3. You want your home to retain its long-term value.

Let's face it – buying a home is a tough decision. And if you need extra help determining whether a home purchase is a viable long-term decision, it may be a good idea to consult with a real estate agent.

Typically, a real estate agent can respond to any of your homebuying concerns and questions, at any time. He or she is happy to help you explore high-quality houses, and by doing so, will enable you to take the guesswork out of discovering a residence that will retain its value.

Err on the side of caution as you proceed along the homebuying journey, and you should have no trouble purchasing a residence that matches or surpasses your expectations.




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Posted by Svetlana Sheinina on 4/18/2017

Searching for a new house that will meet your needs without breaking your budget can sometimes feel overwhelming! There are dozens of factors to consider and countless details to handle at any point in time.

Fortunately, there are strategies for getting it all done, maintaining your sanity, and being satisfied with the final outcome.

If you feel like you're getting off track (or can't even find the train station), here are a few tips for getting organized:

Create a priority list. If you haven't clarified and discussed with your spouse what you want and what's important to both of you, then there's a good chance you won't get it. You do not have to go it alone, though! A top-notch real estate agent can help you create a working list of priorities and preferences that you can use as a measuring stick when evaluating homes for sale. Better still, once you develop this list with your agent, he or she will have the information they need to efficiently locate properties that conform to your wish list and requirements. Your priority list will be based on a lot of criteria, including your desired lifestyle, the size of your family, and proximity to good schools, recreation, and shopping centers. If may also be important to you to live within a short drive to work, childcare facilities, or houses of worship. One of the best ways to organize your wants and needs is to get a copy of a homebuyers' "wish list" from your Realtor or the U.S. Department of Housing and Urban Development (HUD). Key factors to consider when developing your list may include items like architectural style, the amount of remodeling you're prepared to do, and the size of the yard. Privacy, space between neighboring houses, and distance from busy highways are also important factors to weigh.

Choose the right real estate agent: The ideal way to find a real estate agent you'll be pleased with is to get recommendations from family, friends, and trusted business associates. If someone you know well has had a favorable experience with a specific real estate agent, chances are good that your experience would be similar. Since most real estate agents value referrals, a smart agent will strive to make a positive impression on both you and the person who referred you. It's often advisable to talk with more than one real estate agent before making your final decision, though. That way you'll be in a position to compare qualities like experience, knowledge, personality, rapport, and energy level. It's vitally important that you feel comfortable with the agent you decide to work with, and that they're responsive to your questions, concerns, and requirements.

While a "wish list" and a "must have" list are essential components of a successful real estate search, the process unfolds much more smoothly when you remain open minded, flexible, and realistic.





Posted by Svetlana Sheinina on 1/24/2017

If you have been dreaming of owning a vacation home now may be the time to buy. Home prices and mortgage rates continue to fall and there are some great deals for buyers looking for a second home. Here are five things you need to know before taking the leap. 1. Prices are at all-time lows In many second-home hot spots, prices are still close to their five-year lows. When the real-estate bubble burst, some of the hardest-hit markets were vacation destinations. Many vacation home areas experienced overgrowth and may now be suffering from foreclosures. 2. Think ROI Consider the possible return on your investment. Whether or not you decide to rent the home out, you will want to consider buying a place that has good rent potential. That's because a home's rent ability can affect its resale value. Before you bid on a house, make sure the homeowners association or township allows short-term rentals. 3. Don't count on rental income If you are planning on counting on rental income to cover the costs beware. According to HomeAway.com, a typical second home property rents out just 17 weeks a year. Make sure to account for the weeks the home won't rent. Plus, you'll need to pay for cleaning, maintenance, insurance, and maybe management fees. Make sure to plan on the maintenance costs of the property being at least 15% of the income. 4. Your mortgage rate depends on how you use the home How you use the home depends on the mortgage rate you will receive. If you plan to use the property primarily as a second home and you'll pay about the same mortgage rate as you would on a primary residence. If your plans are to use the home for rental income and need that income to qualify for the loan, you'll need to have as much as 25% for the down payment and pay up to one percentage point more in interest. 5. Take advantage of tax benefits Talk to your tax guy before you buy. If you rent the home out for two weeks or less you won't have to report a cent of income to the IRS. The good news here, you can still deduct property taxes and mortgage interest. On the flipside, if you stay there for less than two weeks or 10% of rental days, you can deduct operating costs in addition to interest and property tax. But where should you buy? According to CNBC here are the top places to buy a second home. If you are thinking about buying a second home I can help you find a professional agent in that area.







Svetlana Sheinina
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