Kim D'Elia - EXIT Real Estate Executives



Posted by Kim D’Elia on 1/26/2020

Want to buy a house for the first time? Create a budget, and you can move one step closer to transforming your homebuying dream into a reality.

Now, let's take a look at three budgeting tips that every first-time homebuyer needs to know.

1. Don't Wait to Start Saving for a Down Payment

In most instances, a down payment on a home ranges from 5 percent to 20 percent. With a large down payment, you may be able to reduce your monthly mortgage expenses.

A lender may be more willing to provide you with a favorable mortgage if you can afford an above-average down payment. This means if you have plenty of money for a down payment, you could save money over the life of your mortgage.

2. Take a Look at Your Outstanding Debt

Student loan charges, credit card bills and other outstanding debt may make it tough for you to get the financing that you need to buy a house. Fortunately, if you pay down your outstanding debt as much as possible, you can boost your chances of buying your dream house.

Evaluate your current spending and make cuts if possible. For example, if you dine out several times a week, it may be more cost-effective to buy groceries and cook your own meals. Then, you'll have extra money that you can use to pay off outstanding debt and save for a house.

3. Understand Your Credit Score

Do you know your credit score? If not, you may be missing out on opportunities to eliminate outstanding debt and increase your home savings.

You are eligible for a free annual copy of your credit report from each of the three credit reporting bureaus (Equifax, Experian and TransUnion). Take advantage of this perk, and you can receive insights into your credit score.

If you obtain your free credit reports and find outstanding debt, you should try to pay off this debt sooner rather than later. Because the longer that you wait to pay off outstanding debt, the longer it may take you to acquire your ideal residence.

Furthermore, if you discover errors on a credit report, contact the reporting bureau immediately. This will enable you to fix any report errors before you get a mortgage.

If you need additional assistance as you map out a homebuying budget, it often pays to collaborate with a bank or credit union. In addition to providing you with multiple mortgage options, a lender will offer expert recommendations to help you budget for your first home purchase.

Lastly, don't hesitate to reach out to a real estate agent as well. This housing market professional is happy to help you get in touch with the best lenders in your area. And when you're ready to kick off your inaugural homebuying journey, a real estate agent can provide you with the support you need, precisely when you need it.

Use the aforementioned tips, and you can establish an effective homebuying budget.




Tags: Buying a home   budgeting  
Categories: Uncategorized  


Posted by Kim D’Elia on 1/19/2020

Buying a home can be fast and easy for just about anyone. However, becoming the "perfect" property buyer can be challenging, particularly for those who are shopping for a house for the first time.

The perfect homebuyer understands what it takes to land his or her ideal house at the best price. As such, he or she will know how to handle difficult homebuying situations and streamline the process of going from property buyer to property owner.

Ultimately, becoming the perfect homebuyer may be easier than you think – here are three tips to help you acquire your ideal residence quickly and effortlessly.

1. Study the Real Estate Market Closely

The real estate market has many ups and downs, but the perfect homebuyer will know the ins and outs of the housing sector. By studying the real estate market closely, this property buyer will be able to identify the right opportunities and overcome any potential homebuying hurdles.

Spend some time looking at the prices of homes that are currently available. This will allow you to find homes at price that you like – and homes at prices that you don't like – and map out your homebuying journey accordingly.

Also, take a look at homes that recently sold in cities or towns where you'd like to live. This will enable you to differentiate between a buyer's market and a seller's market.

2. Know What You Can Spend on a Home

The perfect homebuyer should have no trouble avoiding the temptation to overspend on a house. In fact, this homebuyer will understand how to get pre-approved for a mortgage, which will ensure that he or she can establish a property buying budget.

To get pre-approved for a mortgage, a homebuyer should meet with several banks and credit unions. Each meeting will enable a homebuyer to learn about the mortgage options that are available from a variety of lenders. Plus, a homebuyer can ask questions and discuss myriad mortgage options with these lenders.

With pre-approval for a mortgage, a homebuyer will be able to enter the housing market with a budget in hand. Then, this property buyer can narrow his or her search for the ideal residence.

3. Collaborate with a Housing Market Professional

Becoming the perfect homebuyer may require you to receive housing market guidance at times. Fortunately, if you work with a real estate agent, you can get top-notch support as you navigate the homebuying journey.

A real estate agent is a housing market professional who will go above and beyond the call of duty to assist you. He or she will be able to provide homebuying recommendations to help you make informed decisions. Also, a real estate agent will be able to keep you up to date about new houses as they become available, guaranteeing that you can speed up the homebuying process.

When it comes to buying a home, it is essential to do whatever it takes to acquire a first-rate residence at a budget-friendly price. Take advantage of the aforementioned tips, and you can move one step closer to doing just that.




Categories: Uncategorized  


Posted by Kim D’Elia on 1/12/2020

Photo by Nattanan Kanchanaprat via Pixabay

Would you like to invest in real estate? To buy thousands of income-producing properties, from apartments to office buildings to industrial parks, all over the country or the world? It you’re wealthy, you might dispatch someone to travel far and wide and do just that, but even if you’re not rich you can participate. The tool that enables this is a Real Estate Investment Trust, or REIT.

What is a REIT?

A REIT uses its investors’ money to buy or finance real estate that produces income. It’s an investment in property rather than stocks or bonds. The profit it earns from leases and rents is distributed to investors. By law REITs must pay out 90 percent of this income to the shareholders, but 100 percent is more common.

Most REITS are Equity REITs, which directly own property. Mortgage REITs are indirect, investing in mortgages and mortgage-backed securities. Most REITs are publicly traded and listed on national exchanges. Some are private; these generally require a larger minimum investment.

REIT holdings include residential buildings, office space, industrial facilities, shopping centers, hotels, storage facilities and even data centers. A REIT may invest in one of these asset types or a mix of many.

There are also mutual funds that invest in REITs. Some are actively managed and others are Exchange Traded Funds (ETFs) that buy all REITs, or all REITs in specific categories, without trying to pick winners.

Are REITs a good investment?

REITs offer the benefits of owning rental property without the headaches, homework and personal risk. If you want to buy, say, an apartment building, you must evaluate the property, arrange financing, find renters, deal with tenants and building maintenance on a day-to-day basis and handle the accounting and taxes. If your investment turns sour you’re in for a big loss. With REITs, professionals do that work, and if one property loses money it’s offset by those that do well. Also, you can put as much or as little at risk as you want in a REIT. You can buy a small number of shares for a few thousand or even a few hundred dollars.

Historically, REITs have outperformed most other investments long-term. Average returns for the last 10, 20, 30 and 40 years have been comfortably over 10%. However, REITs are subject to the ups and downs of real estate and can be a loser in the short run. Generally the best time to buy a REIT is when the real estate market is at the bottom as opposed to when it’s nearing a crest. Of course, it’s difficult to know exactly when that is, so dollar cost averaging, i.e., buying regularly over time, is a good strategy.

REITs tend not to move up and down in lockstep with stocks and bonds, so they can have a balancing effect in a portfolio. Few would recommend making REITs the major part of your holdings, but they can be an important component of your investment strategy.





Posted by Kim D’Elia on 1/9/2020


17 Paris Ave, Worcester, MA 01603

Multi-Family

$184,500
Price

2
Units
2,808
Approx. GLA
Wow! What an amazing opportunity to own a multi family in Worcester! These two side by side units boast tons of living space and garages! This is the perfect opportunity to live on one side and rent the other. The left side unit contains a large open living room kitchen combination and 1st floor master bedroom with its own private bathroom! There is an additional bedroom and full bathroom on this level as well. The second floor boasts two more large bedrooms and plenty of storage space. The right side unit has an open living room kitchen combination as well. This unit has to large bedrooms and washer/dryer hook ups in the bathroom. There is plenty of additional space for each unit in the underneath garages. The two units are connected by a door in the garage as well as a door upstairs in the hallway of the unit.
Open House
Sunday
January 12 at 12:00 PM to 1:00 PM
Cannot make the Open Houses?
Location: 17 Paris Ave, Worcester, MA 01603    Get Directions






Categories: Open House  


Posted by Kim D’Elia on 1/7/2020


17 Paris Ave, Worcester, MA 01603

Multi-Family

$184,500
Price

2
Units
2,808
Approx. GLA
Wow! What an amazing opportunity to own a multi family in Worcester! These two side by side units boast tons of living space and garages! This is the perfect opportunity to live on one side and rent the other. The left side unit contains a large open living room kitchen combination and 1st floor master bedroom with its own private bathroom! There is an additional bedroom and full bathroom on this level as well. The second floor boasts two more large bedrooms and plenty of storage space. The right side unit has an open living room kitchen combination as well. This unit has to large bedrooms and washer/dryer hook ups in the bathroom. There is plenty of additional space for each unit in the underneath garages. The two units are connected by a door in the garage as well as a door upstairs in the hallway of the unit.
Open House
No scheduled Open Houses






Categories: New Homes  




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