Fitzgerald and Associates Real Estate



Posted by Fitzgerald and Associates Real Estate on 8/10/2018

If you plan to conduct a house search, there is no reason to settle for inferior results. Instead, you should dedicate the necessary time and resources to conduct a comprehensive search for your dream house.

Ultimately, there are many reasons why it pays to perform an in-depth home search. These include:

1. You can avoid the risk of buying a subpar house.

As a homebuyer, it is paramount to discover a residence that meets or exceeds your expectations. Because if you purchase a house that falls short of your expectations, you may suffer the consequences of your decision for years to come.

For example, if you want to acquire a home quickly, you may be tempted to submit an offer to purchase the first house you view in-person. You might even choose to ignore house problems that are discovered during an inspection.

In the aforementioned scenario, you may wind up purchasing a home that will require costly, time-intensive repairs in the foreseeable future. Perhaps worst of all, you may struggle to generate equal value for your residence if you decide to re-sell it at a later date.

2. You can boost the likelihood of finding a house that matches your budget.

If you have a limited homebuying budget at your disposal, there is no need to leave any stone unturned in your quest for your ideal residence.

By dedicating time and resources to conduct an extensive house search, you'll be better equipped than other buyers to find a first-rate residence at a budget-friendly price. Plus, you may be able to pounce at the opportunity to buy a home that matches your budget as soon as this residence becomes available.

3. You may be able to capitalize on a buyer's market.

A patient homebuyer may be able to wait out a seller's market, i.e. a real estate market that features an abundance of buyers and a shortage of sellers. And in this situation, a buyer could capitalize on a buyer's market, i.e. a real estate market that boasts an abundance of sellers and a shortage of buyers. As a result, this buyer could choose from a wide selection of top-notch residences in a buyer's market and select a residence that offers a great combination of affordability and quality.

If you plan to pursue a home soon, you may want to hire a real estate agent. Because if you have a real estate agent at your side, you can receive plenty of support throughout the property buying journey.

A real estate agent understands what it takes to conduct a thorough home search. He or she will keep you up to date about new houses that become available in your preferred cities and towns and offer expert homebuying recommendations. Also, if you want to submit an offer to purchase a home, a real estate agent will help you put together a competitive homebuying proposal.

Simplify the homebuying process Ė work with a real estate agent, and you can streamline your house search.





Posted by Fitzgerald and Associates Real Estate on 7/20/2018

Buying a house is arguably the most expensive purchase most people will make in their lives. With real estate prices steadily rising year after year, many Americans are finding ways to save on housing.

At the same time, rent prices too are increasing, especially around metro areas where many young Americans are entering the workforce. With costs rising and wages stagnating, it can be hard to find an affordable place to live while still building equity that can be used later on down the road.

One option that many Americans are considering is the fixer-upper route. However, it takes know-how and a lot of hard work to make this method a good choice to save you money. In this article, weíll tell you how to make certain buying a fixer upper is a good idea and what costs you can expect along the way.

Adding up the costs

Buying a house that needs work means youíll need to spend a good amount of time calculating costs and getting quotes from professionals. Even if youíre familiar with several home maintenance tasks, there are some jobs that are safer if left to the pros. This isnít only a matter of physical safety, however. If you start a job that you arenít qualified to finish you could end up paying much more than if you had just hired a licensed professional to do the job in the first place.

When estimating costs for reparations and renovations, aim high. Itís better to plan for it to be more expensive and have more left over than to underestimate your projects and go over budget.

Get an inspection report

If you arenít sure whether or not you want to go through with a deal, make sure you have an inspection contingency clause in your contract. This will enable you to back out if the home inspector makes you aware of any costs that you werenít told about by the seller.

Donít forget added costs

There are several closing costs youíll be responsible for as a buyer. Make sure you keep tabs on how much you can expect to spend closing on the home. If youíre going through a mortgage lender, they are required to give you an estimate of closing costs.

Once you know the purchase price of the home and the closing costs, make sure you account for other aspects of your renovations, such as getting required permits.

Borrow wisely

If you do plan on taking out a loan to cover the cost of renovations, be smart with how you get and pay back that money. One option is the FHA 203(k) loan or renovation loan.

Renovation loans help you save on closing costs and simplify the lending process by giving you one loan that accounts for the cost of the renovations and of the home itself.





Posted by Fitzgerald and Associates Real Estate on 6/1/2018

If you plan to buy a home in the near future, there is no harm in attending an open house. However, for those who want to get the most out of an open house, it helps to plan ahead as much as possible.

Now, let's take a look at three tips to help you get ready to attend an open house.

1. Review the Home Listing

Although you may have already reviewed a home listing, it may be a good idea to take a second look at it. That way, you can double-check to ensure that a residence matches your expectations prior to attending an open house.

As you review a home listing, think about your short- and long-term plans too. If you believe a home corresponds with these plans, now may be the right time to check out this residence in-person.

2. Examine Your Homebuying Budget

When it comes to preparing to attend an open house, it may be beneficial to assess your homebuying budget. By doing so, you can ensure a residence falls within your price range.

Oftentimes, it helps to get pre-approved for a mortgage before you launch a home search. If you have a mortgage at your disposal, you'll know exactly how much you can spend on a home. And as a result, you can set up home showings and attend open houses for residences that match your budget.

3. Prepare a List of Questions

An open house provides an opportunity to walk around a residence and decide whether it is right for you. It also enables you to receive comprehensive insights into a home. Thus, you should put together a list of questions to ask during an open house.

Remember, there is no such thing as a "bad" question, especially if you're on the fence about buying a particular home. And if you enter an open house with a list of questions in hand, you'll be better equipped than ever before to determine whether to submit an offer to purchase.

Lastly, as you prepare to pursue your dream home, you may want to hire a real estate agent as well. Because if you have a real estate agent at your side, you can obtain expert guidance throughout the property buying journey.

A real estate agent can help you prepare for any open house, at any time. He or she first will meet with you, discuss your homebuying options and help you map out a homebuying strategy. Next, a real estate agent will set up home showings and keep you informed about open house events for residences in your preferred cities and towns. And if you discover your dream home, a real estate agent will help you craft a competitive offer to purchase.

For those who want to take the guesswork out of buying a home, it helps to work with a real estate agent. Contact a local real estate agent today, and you can receive plenty of assistance as you search for your ideal residence.




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Posted by Fitzgerald and Associates Real Estate on 5/25/2018

In your search for a home, thereís one option that you may be overlooking. That is the act of sharing a home with others. It can help you to divide the expenses of homeownership and even put you on a faster path to homeownership. When you do decide to share the cost of homeownership with others, thereís a few things that you should know.


Thereís so many different advantages to co-buying a home with a relative, even as a married couple. You do need to make sure that the arrangement is well thought out and planned ahead of time. 


The Title


When you buy a house, you receive whatís called a title. In the case of co-ownership, it explains how the buyers are sharing the title. The way the title is set up could have consequences down the road, especially when it comes to one person exiting the house, and parting ways with the agreement.  


When Sharing A Property With A Non-Spouse


When youíre sharing the property with a non-spouse, you have a few options. These include:


Tenant In Common


With this option, thereís no need for a 50/50 split. Buyers are allowed to own unequal interests in the property. If one of the co-owners were to pass away, their ownership would be transferred to one of their beneficiaries. For this reason, tenant in common is the most popular way that buyers who are not related agree in guying a property together and take on the title.     


Joint Tenants With Right Of Survivorship


With this option, co-buyers have no option but to own equal interests in the property at hand as a 50/50 split. If you bought a home with two other people, youíd each have one-third interest in the home, and so on. If one tenant passes away, the remaining owners gain the deceased ownerís percentage of interest in the property. Thereís no need for a court proceeding or probate, this happens automatically. Even if the deceased owner has a will designating their portion of the property be given to someone else, the request is null and will generally be refused.   



Both of these co-ownership options allow for an undivided interest in a property. All owners are co-owners as a part of the entire piece of property. If one owner wants to sell, for example, they would be selling their tenancy or part interest in the property.       

Important Things To Do:


  • Create a co-ownership agreement
  • Clarify who owns what percentage
  • Decide who pays the ongoing expenses
  • Give options if any owners want out in the future


You could draft one of these agreements with a qualified attorney. Itís a good idea to sit with everyone before the purchase of the property is made to talk and lay out all of the expectations. Everyone should have one of these agreements in writing, however. 


While sharing a property purchase can reduce your debt, itís important to make smart agreements and understand whether the decision makes sense for you and all parties involved.





Posted by Fitzgerald and Associates Real Estate on 5/18/2018

There are a number of steps involved in buying a home. One of the many important things you should do before closing on a new home is to get the house properly inspected.

Buyers sometimes avoid getting a professional inspection for a number of reasons. Some are on a tight budget and want to save a few dollars. Others have time constraints and want to close as soon as possible. And, many buyers believe that omitting an inspection is a way to show trust in the previous owner.

In this article, weíll talk about why getting a home inspection is such an important part before closing on a real estate deal.

Inspection costs

Closing on a home comes with a number of expenses. Application fees, origination fees, underwriting feesÖ the list goes on. If youíre buying a home, you might be tempted to opt out of getting the property inspected to save money.

The cost of an inspection ranges anywhere from $200 for smaller homes, to $400 or more for large homes. However, the cost of not getting your home inspected can be much greater. Even if youíre knowledgeable when it comes to houses, there are a number of things that only the experts can diagnose.

Having a professional inspect the home is the only way to ensure that there arenít any issues that will come back to haunt you (and your wallet) in the months and years to come.

Saving time

Many buyers are eager to close the deal and begin moving into their new home as soon as possible. Sometimes buyers need to vacate their old home before a certain date, others try to time their move around holidays or school vacations.

There are other ways, however, to make sure you get the house inspected in time. First, make sure youíve included a home inspection in your purchase agreement. This will avoid wasted times debating whether or not you are entitled to inspect the home.

Next, call multiple inspectors in your area for quotes and availability. Delaying this step can make you lose time, and inspectors might charge you more if they have to squeeze you into their schedule.

The best time to schedule an inspection is as soon as your offer is accepted.

Maintaining a good relationship with the seller

It may seem like an act of diplomacy to waive a home inspection. In reality, however, nearly all sellers will understand that you are simply doing due diligence to make sure the process runs smoothly for both of you.

Sellers might sometimes offer you the findings of a previous inspection that they had done. In this case, itís still important to have your own inspection done so that you can walk through the home with the inspector and listen to their feedback. You canít be sure of the accuracy of any old reports, and the previous inspector is only accountable to the seller.


Having a home professionally inspected is almost always a good idea. It can save you time and money in repairs that could have been avoided.





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