Hero Brokers LLC

Real Estate 101 - Word of the week ⁠
⁠.
Buyer’s Agent⁠
The Buyer’s Agent or "Cooperating Broker" represents the homebuyers and their interests in a transaction. On the other side, the Listing Agent represents the seller and their interests.⁠
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Before starting the home-buying process, make sure you have these 5 things prepared!
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Sending good wishes to you this Thanksgiving! Good food that fills your table, good health as you work hard, and good times with family and friends. May you have all the best delights in life. Happy Thanksgiving! 🦃🦃🦃🦃🍂🍂

Above all :

Buying a home is like having a kid, the right time is when you feel ready and can afford it!
Be sure to have your team ready when you are ready to find your dream home. Your team includes ls your MORTGAGE ADVISOR, REALTOR and LAWYER.
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What mortgage mistakes are you currently making or might make?

Reach out and let us help you in correcting some of the most common mortgage mistakes.
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👉 𝐘𝐨𝐮𝐫 𝐟𝐫𝐢𝐞𝐧𝐝𝐬 𝐰𝐢𝐥𝐥 𝐛𝐞𝐥𝐢𝐞𝐯𝐞 𝐢𝐧 𝐲𝐨𝐮 𝐚𝐧𝐝 𝐠𝐢𝐯𝐞 𝐲𝐨𝐮 𝐭𝐡𝐞 𝐜𝐨𝐮𝐫𝐚𝐠𝐞 𝐚𝐧𝐝 𝐬𝐮𝐩𝐩𝐨𝐫𝐭 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝. 𝐘𝐨𝐮𝐫 𝐞𝐧𝐞𝐦𝐢𝐞𝐬 𝐰𝐢𝐥𝐥 𝐦𝐚𝐤𝐞 𝐲𝐨𝐮 𝐚𝐜𝐜𝐨𝐦𝐩𝐥𝐢𝐬𝐡 𝐭𝐡𝐨𝐬𝐞 𝐠𝐨𝐚𝐥𝐬. 𝐏𝐫𝐨𝐯𝐢𝐧𝐠 𝐩𝐞𝐨𝐩𝐥𝐞 𝐰𝐫𝐨𝐧𝐠 𝐢𝐬 𝐦𝐮𝐜𝐡 𝐛𝐞𝐭𝐭𝐞𝐫 𝐚𝐧𝐝 𝐦𝐨𝐫𝐞 𝐬𝐚𝐭𝐢𝐬𝐟𝐲𝐢𝐧𝐠 𝐭𝐡𝐚𝐧 𝐩𝐫𝐨𝐯𝐢𝐧𝐠 𝐩𝐞𝐨𝐩𝐥𝐞 𝐫𝐢𝐠𝐡𝐭.

Buydowns are easy to understand if you think of them as a mortgage subsidy offered by the seller on behalf of the homebuyer. Typically, the seller contributes funds to an escrow account that subsidizes the loan during the first years, resulting in a lower monthly payment on the mortgage. This lower payment allows the homebuyer to qualify more easily for the mortgage.

Builders or sellers may offer a buydown option to help increase the chances of selling the property, by making it more affordable.

Have more questions about buying a home or taking out a mortgage this winter? 📱 Send us a DM and we'll be glad to help!
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🎄How is your Christmas season starting so far? 👀 Let us know with the most appropriate emoji in the comments!
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There are a lot of reasons that you might consider refinancing your home, but it's important to remember that it's a big decision. The best reason to refinance is to lower the interest rate on your existing loan.
Historically, the rule of thumb is that refinancing is a good idea if you can reduce your interest rate by at least 1%.
Want to learn more about refinancing your mortgage? We can help!
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Ever heard of an ARM? Read below!
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Experts agree there’s no chance of a large-scale foreclosure crisis like we saw back in 2008, and that’s good news for the housing market. As Mark Fleming, Chief Economist at First American, says:

“. . . don’t expect a housing bust like the mid-2000s, as lending standards in this housing cycle have been much tighter and homeowners have historically high levels of home equity, so there likely won’t be a surge in foreclosures.”

But even though the volume of homeowners at risk is very low, there is still a small percentage of homeowners who may be coming face to face with foreclosure as a possibility today.

The good news is there are alternatives available to help you avoid going through the foreclosure process, including:

• Reinstatement
• Loan modification
• Deed-in-lieu of foreclosure
• Short sale

But before you go down any of those paths, it’s worth seeing if you have enough equity in your home to sell it and protect your investment.

>>You May Be Able To Use Your Equity To Sell Your House

In today’s real estate market, many homeowners have far more equity in their homes than they realize due to the home price appreciation we’ve seen over the past few years.

If you’ve lived in your house for at least a few years or more, chances are your home’s value, and your equity, has risen dramatically. If your home’s current value is higher than what you still owe on your loan, you may be able to use that increase to your advantage.

>>Lean on Experts To Explore Your Options

If you’re a homeowner facing hardship, lean on a real estate professional to explore your options and see if you can sell your house to avoid foreclosure.
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There are many things that you look for in your new home.
However, I have found the following to be the most critical ones.
1. Reliable HVAC unit is important. Sometimes builder's contractors cut corners and install smaller units, or the unit results are faulty. Make sure your home inspector checks the unit is in good condition. Ask for the age of the unit and make sure that it's installed up to code.
2. A Good Foundation. Foundation nightmares are the worst and unfortunately, they do happen. Note any issues or irregularities during walk-through appointments. Fixing or replacing any foundation structural damage may cost you over $35,000 -- easily.
3. Electrical Panel Issues. Although, water damage can be devastating for any home. Electrical issues are worse as they can cause a fire 🔥 and destroy the property forever. Take a peek at the panel and make sure everything looks in good shape. If you have no idea what to look for, hire a professional and licensed electrician to inspect it.
It's always better to be cautious.
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Did you know that stock investments have more volatility in comparison to investing in real estate?

One of the best things about a real estate investment is that it can guard you against inflation. When you choose to invest in a great property the value can increase with appreciation.

Stock markets can be erratic compared to real estate markets. Your investment is always subjected to inflation. It's certainly a higher risk!

Interested to learn more about real estate investments? Reach out to our team!
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5 Steps to Making a Budget 📝

Having a budget and sticking to it will help you understand how much you can afford when it's time to buy a home. 💵 🏠

Here's how to get started:
✔️ Step 1: Calculate your monthly income from all sources. Add your net income rather than your gross to get this figure.⠀⠀⠀⠀⠀⠀⠀⠀⠀
✔️ Step 2: Create a list of fixed monthly expenses. These expenses don't change monthly and usually include everyday bills such as loan payments and insurance.
✔️ Step 3: Determine your variable expenses, those that change monthly. Since these payments change, create an average based on the amount spent over the last three months.
✔️ Step 4: Make adjustments depending on your budget difference. Subtract your total monthly expenses from your total monthly income. The resulting figure is your budget difference, either a surplus or deficit.⠀⠀⠀⠀⠀
✔️ Step 5: With a budget in place, it's time to set some goals! Create a savings goal and stick to it. You can do this! 💪
When you're preparing to buy a home, a budget can help you reach that goal, and so can I! Call or message me and let's chat about your real estate goals. 📲
Sell and buy Real Estate with a realtor you can trust!
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Waiting a year for that (*hypothetical) rate drop could result in losing valuable capital gains from appreciation over the next year (even at a very conservative appreciation rate!). Take a closer look at how much you're missing out on by waiting to buy and contact me if you're ready to capitalize on the expected appreciation!
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When considering buying a home, it can start to feel like everyone is speaking in another language! We get it.

Here is a quick cheat sheet of a few of the basic mortgage terms so you can feel more comfortable when starting the exciting home-buying process!

Let me know if you would like a free (and custom) plan designed around what you could qualify for today or later pending your goals and situation.
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6 Budgeting Tips to help you take control of your cash flow.
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Being able to help 1st time or repeat buyers is a very rewarding job for us.
Each & every client is special & we do our best to make the mortgage process as smooth as possible!
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Happy Veterans Day! Thank you for your sacrifice, your bravery, and the example you set for us all. ❤️

For most people, buying a home takes some planning well in advance. Between all the money saving, credit improving, and decision-making that comes with purchasing property, it can take anywhere from a few months to many years for an individual to be ready to make the leap. If you're thinking about becoming a homeowner, there are some key steps to take before even starting the process.
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Are you thinking about moving into something bigger?
Here are a few benefits:
1️⃣Ability to expand your family and allow them to grow
2️⃣Provide a basement suite for elderly parents
3️⃣More space to host friends or guests
4️⃣Potential for a second bathroom or at-home office for ease of life
Remember, you will see an increase in monthly expenses from utilities to your mortgage payments to maintenance. However, these added costs come with some great benefits.
It’s also important to think about your mortgage term.
If you are making changes before your term is up, I can guide you through what this looks like and what any penalties might be.
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During the buying process, you will want to have your future home inspected to make sure there aren't any major issues with the foundation, roof, and the like.

Your realtor will guide you with this, as well, but it is always good to have some of your own questions on hand. Here are a few to consider.
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