OUR CAPE COD HOMES TEAM - EXIT Cape Realty



Posted by OUR CAPE COD HOMES TEAM on 3/13/2018

Adjustable rate mortgages are also known as “ARM” loans. These are home loans with monthly payments that move up and down along with interest rates and the market. There’s different periods that occur throughout the time of the adjustable loan including an initial period where the rate is fixed for a certain amount of time. The rates will change along with preset intervals of change. 


Rates Start Lower Than Fixed Rate Mortgages


Interest rates during the fixed rate period of an adjustable mortgage are usually lower than that of fixed-rate mortgages. The most common type of adjustable rate mortgage is called the 5/1 ARM. This means that the rate is locked for a total of 5 years before it becomes truly adjustable. After the 5 years the rate will change every year. Other forms of ARM loans are the 3/1, the 7/1, and the 10/1.


Rate Indexes And Margins


Following the fixed-rate period, the interest rate adjusts with what’s titled the index interest rate. This rate is set by the market and is released periodically by an independent party. Since there are a variety of indexes, your loan will state which index your adjustable rate mortgage will follow. To set your exact rate, your lender will look at the index and then add a number of percentage points that has already been set in place. This is called the margin. For example, an index rate of 2.5 percent and a margin of 2 will equal an interest rate of 4.5 percent. As the index changes, this number will go up and down.


Adjustable Rate Mortgages Come With Caps


If you do decide to go with an adjustable rate mortgage, you should know that you’re protected from extreme rate increases. These loans come with caps that limit the amount that both rates and payments can change by. There are several different kinds of caps including:


Periodic Rate Cap

This limits the amount that an interest rate can change from one year to the next.


Lifetime Rate Cap

This type of cap limits how much the interest rate can change overall throughout the life of the loan. 


Payment Rate Cap

This limits how much the monthly payments can rise over the life of the loan in a dollar amount. This is different than other caps, since it denotes dollars instead of percentage points.


Is This Type Of Loan For You?

Adjustable rate mortgages can be good, depending on the state of the economy and your own financial situation. Stay educated and shop around in order to get the best rates available for you.





Posted by OUR CAPE COD HOMES TEAM on 3/6/2018

Many people outgrow the home they’re living in rather quickly. On the flip side, the home you’re currently in could be too big for you, and you need to downsize. Whatever your situation is, when it comes time to sell your home you want to get the most money you can for your sale. There’s so many easy and affordable home upgrades that you can make that will add immense value to your home. Even if you’re not looking to move in the near future, you’ll be glad you made these upgrades in order to make the most out of your home.


Make A Move With Your Countertops


There are so many different kinds of kitchen countertops that you can get these days. It isn’t all about granite anymore. There’s a few popular materials that can be used including recycled glass or quartz. You can even upgrade your backsplash tile to something a bit more modern to easily transform your kitchen. 


Upgrade The Fireplace


If your fireplace could use some TLC, make repairs to it and refinish it. You may even consider using a different kind of stone or brick than was on the original unit. If your home doesn’t have a fireplace, you may want to consider installing a freestanding one. These units are ventilated through a pipe in your home. A fireplace is so cozy and gives your home an attractive feature.


Add Some Outdoor Living Space


Adding a deck, patio, or some sort of outdoor living pace like a 3 season room can add a lot of value to your home. People love to make the most use of the outdoors so whether you add an outdoor kitchen, or a small patio space, it will be beneficial. Plus, you and your family will be able to use the brand new space once it’s completed!

Adding outdoor lighting is also another positive addition to your home. This allows for seamless use of outdoor spaces both day and night. Lighting also adds an important safety and security feature to your home. Installing timers along with these outdoor lights can help to deter burglars.


Do A Once Over On Your Home’s Exterior


Simply having the outside of your home power-washed can make a big difference. Replace your mailbox. Repair shutters and siding that may need some attention. Take some time to care for your landscaping. All of these little projects will make an impact on the appearance of your home. If you’re getting ready to sell, your motivation may be lacking in these areas. The better your house looks on the outside, the more people you’ll get to come inside when there’s a for sale sign out front.





Posted by OUR CAPE COD HOMES TEAM on 2/27/2018

If you intend to list your house, it helps to determine a competitive initial home asking price. That way, you can stir up plenty of interest in your residence as soon as it becomes available.

Ultimately, there are many reasons to establish a competitive price for your home, and these include:

1. You can boost the likelihood of a quick, profitable home sale.

A competitive home price is sure to garner homebuyers' attention. Thus, it may help your house stand out to potential buyers, increasing the likelihood of a quick, profitable home sale.

Oftentimes, it helps to review the prices of comparable houses in your city or town before you list your residence. If you understand the prices of similar homes in your area, you can set a competitive price from day one. With this price in place, you can generate interest in your home and move one step closer to selling your house.

2. You can minimize the risk of alienating potential buyers.

A home's price is one of the key factors that a buyer will consider as he or she evaluates the real estate market. If your home is overpriced based on its age and condition, you risk alienating potential buyers. And if no buyers show interest in your home, you may be forced to lower your home's price down the line.

Setting a competitive home price requires you to take a close look at your residence and examine its pros and cons. If you can identify your house's strengths and weaknesses, you'll be better equipped than ever before to understand the buyer's perspective. Then, you can establish a price in line with buyers' expectations.

Furthermore, it may be beneficial to conduct a home inspection before you list your residence. This inspection enables you to gain comprehensive insights into any underlying home problems. As a result, you can use the inspection to identify any home issues and ensure these problems won't prevent you from maximizing the profits from your home sale.

3. You won't have to worry about selling yourself short.

A competitive home price likely is based on a wide range of housing market data and a house's age and condition. Therefore, it helps minimize the risk that you'll sell yourself short.

By establishing a competitive home price, you can feel confident that your residence is priced fairly. And if you deploy a data-driven approach to selling your house, you should have no trouble establishing a competitive home price.

Lastly, if you need help determining how to price your house, you may want to hire a real estate agent. This housing market professional can offer expert insights into the home selling journey and ensure you can list your house at a competitive price. In addition, a real estate agent will do everything possible to help you optimize the value of your home.

Ready to list your residence? Set a competitive price for your house, and you can bolster your chances of enjoying a successful home selling experience.





Posted by OUR CAPE COD HOMES TEAM on 2/20/2018

If you want to acquire the best house at the lowest price, it pays to conduct an in-depth home search. In fact, there are many reasons why you should perform a comprehensive house search, and these include:

1. You can define your dream house.

For those who enter the housing market without a clear-cut definition of a "dream home," there is no need to worry. If you perform an extensive house search, you'll be better equipped than ever before to differentiate home must-haves from wants.

Ultimately, the definition of a dream home varies from buyer to buyer. As you map out your homebuying journey, it helps to put together a list of house must-haves and wants so you can tailor your home search accordingly.

Once you determine what you want to find in your dream house, you can assess the housing market and search for your ideal home. Then, when you locate your ideal residence, you should have no trouble submitting a competitive offer and moving one step closer to buying your dream house.

2. You can avoid the dangers associated with paying too much for a home.

Oftentimes, it is easy to attend a home showing and submit an offer on a home. But if you do so without performing housing market research, you risk overspending to purchase your ideal residence.

When it comes to determining the best price for a house, it helps to look closely at real estate market data. This information can help you differentiate a buyer's market from a seller's market, analyze the prices of houses in your city and town and much more. Perhaps most important, reviewing housing market data may enable you to avoid the temptation to spend too much to acquire your dream home.

3. You can reduce the risk of purchasing a home that fails to meet your expectations.

An in-depth home search reduces the risk that you'll be forced to "settle" for a home that fails to meet your expectations. Instead, you can allocate plenty of time and resources to search far and wide for your ideal residence. And if you find your dream home, you can rest assured that you'll be able to purchase this residence and enjoy it for years to come.

Clearly, there is a lot to think about if you intend to buy a house in the foreseeable future. But if you collaborate with a real estate agent, you can receive expert support at each stage of the homebuying journey.

A real estate agent will learn about you and your homebuying goals. Next, this housing market professional will keep you informed about available houses in your preferred cities and towns and set up home showings. A real estate agent will even help you submit offers on houses and ensure you can get the best price on any residence, at any time.

Take the guesswork out of buying a house – consult with a real estate agent today, and you can get the help you need to make your homeownership dream come true.





Posted by OUR CAPE COD HOMES TEAM on 2/13/2018

Are you a productive homebuyer? If not, you may miss out on an opportunity to acquire your dream residence.

A productive homebuyer understands the ins and outs of the real estate market. As such, this individual may be better equipped than others to purchase a top-notch residence at a budget-friendly price.

Ultimately, operating as a productive homebuyer may be easier than you think – here are three tips to ensure that you can become a productive homebuyer in no time at all.

1. Narrow Your Home Search

If you know what you want to find in a dream home, you can maximize the time and resources at your disposal.

For example, if you prefer a home in a big city, you can start searching for houses in the city of your choice. Or, if you enjoy the unparalleled serenity of small town life, you may want to focus exclusively on houses in various towns.

You also should consider your day-to-day activities as you kick off your home search. If you attend college classes every day, you may want to find a house close to school. Comparatively, if you regularly take the bus to work, you may want to consider homes that provide quick, easy access to public transportation.

2. Establish a Price Range

Although you know that you want to buy a home, you may have no idea what it will cost to obtain your dream home. However, if you enter the housing market with a home price range in hand, you can quickly and effortlessly navigate the homebuying process.

Meet with banks and credit unions in your area. That way, you can learn about myriad home financing options and choose a mortgage that complements your finances.

Don't forget to ask bank and credit union professionals for mortgage recommendations and suggestions as well. These mortgage specialists are happy to teach you about many mortgage options and ensure that you can make an informed home financing decision.

3. Work with a Real Estate Agent

A real estate agent is a homebuying expert who will do everything possible to help you optimize your productivity. If you collaborate with a real estate agent throughout the homebuying process, you can increase the likelihood of getting the best possible results.

A real estate agent will set up home showings, negotiate with a home seller's agent on your behalf and help you get the best price on a home. By doing so, this housing market professional will ensure that you can enjoy a seamless homebuying experience.

Let's not forget about the advanced housing market knowledge that a real estate agent possesses, either. A real estate agent understands the challenges of buying a home and will help you identify and overcome these difficulties. He or she will even answer any homebuying questions, at any time.

Become a productive homebuyer today – use the aforementioned tips, and you can maximize your productivity as a homebuyer and reap the benefits of a quick, efficient homebuying journey.




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