Corey Sells Cribs

We had a great time last night at Pubs & Properties 🏡!

Shout out to everyone who came out to build some great relationships last night. If we missed you this time, we sure do hope to see you next month!

P.S. I didn’t take enough pictures, I was too busy talking (as usual).

🏡 3 Ways to Tap Into Home Equity (Without Selling Your Home) 🏡

*Home Equity is the difference in the market value of your home and how much you owe. *

Many people purchase a home and know that it will help them build wealth, and wealth is built through equity. However, most people are not able to tap into their home equity until they sell the home. Check out these three ways to tap into your home's equity without selling your home:

1.) Cash-out Refinance 💰
- A cash out refinance is when you refinance your home for a larger amount, which allows you to take the difference in cash. Unlike the other two alternatives, cash-out refinancing does not necessarily involve a second loan.

2.) Home Equity Loan 💸
- A home equity loan is a second mortgage for a fixed amount that is repaid over a set period, such as 15 years. This type of home loan is the most structured, and it mirrors a primary mortgage.

3.) Home Equity Line of Credit (HELOC) 💳
- This type of loan is a second mortgage with a revolving balance: You borrow only what you need, pay it off, then borrow again. It works in the same manner as a credit card but with significantly lower interest rates.

Are you looking to cash in on some of your equity? If you don't know how much equity you may have built, or you are curious about the market, don't hesitate to reach out. I would be happy to help answer that question and any others for you.

*Source: Investopedia

🏡 5 Low-Cost Upgrades with a High Return 🛠🏡

Have you been wanting to make some upgrades to your home? Before you do, check out this list of 5 low-cost upgrades that will give you a high return:

1.) Clean & Repaint Walls 🖌
- One of the most cost effective ways to improve any space is to freshen it up with clean walls and new paint. Show some love to those baseboards, kitchen cabinets, trim and molding to make the room stand out. If you want to appeal to buyers, light shades of blue and gray are the way to go.

2.) Refresh Landscaping 🌳
- You want to make a great first impression, and this is exactly how to do it. Make sure the exterior of the home is clean and welcoming. Add some color by planting flowers or shrubs, keep the yard mowed and be sure to pick up any pet waste (especially during showings!).

3.) Upgrade Lighting 💡
- Swap out old light bulbs for new brighter ones (LED if not already using), add lamps and accent lighting to darker areas in the home, and clean the windows to make sure natural light is able to fill the room.

4.) Replace Old Appliances 🫖
- This goes without saying, but buyers would like to know that they have a working microwave, oven and dishwasher (at least) before they move in. If they are able to see that you have taken the time to provide upgraded appliances, getting top dollar for your home will be that much easier.

5.) Renew Floor Finishes 🧹
- Flooring is one of the first things a potential buyer will notice about your home, and it can make or break the deal. At the very least, get your carpets professionally cleaned.

Are you looking to get the most out of your home this year? If so, give me shout to find out what you home is worth! I would be more than happy to provide you with a FREE home valuation.

🏡 What do You Need to Buy a Home in 2023? 🏡

One big thing that stops people from purchasing real estate is not knowing what all is needed to complete a transaction. Check out these 5 things you will need if you are looking to buy a home.

1.) Mortgage Pre-approval ✅
- If you are not purchasing in cash, you will need a loan or mortgage. In order to obtain pre-approval, you will need to contact a mortgage lender. I can certainly help with this.

2.) Earnest Money 💲
- Earnest money, or good faith deposit, is a sum of money you put down to demonstrate your seriousness about buying a home. This amount generally sits in between 1 - 3% of the purchase price of the home and can be applied to your closing costs.

3.) Savings for Down Payment 🏦
- Your down payment can be anywhere from 3 - 20% of the sales price. This depends on your loan type, and your lender will be able to help you determine this.

4.) Money for Closing Costs 💰
- Closing costs are fees people pay for services that switch ownership of a home from the seller to the buyer. In Texas, the average closing costs for buyers are typically 2–6% of the home’s purchase price. In some cases these costs can be negotiated in the sales contract.

5.) Money for Inspection and Appraisal 🕵🏽
- It is a great idea to get your home inspected before you move in to know if there are any serious issues that need to be repaired before buying. Also, you're lender will need to order an appraisal to determine the value of the home in order to issue the loan. The cost of both usually sit around $1,000 ($500 each).

Do you have what you need to buy a home in 2023? If so, shoot me a DM and let's get your process started!