Lux Properties

Some great information on the current interest rate situation.

Make sure you talk to a trusted Realtor about your unique situation to do what’s best for you!

The Cost of Waiting for Mortgage Rates To Go Down Mortgage rates have increased significantly in recent weeks.

Live to your full potential. Stop renting and invest in a home. You’re not you when you’re hungry. Wait, no. Renting. You’re not you when you’re 𝘳𝘦𝘯𝘵𝘪𝘯𝘨.

It’s a sad day when you find out your offer wasn’t accepted on your dream house. But sometimes that happens! You have to trust the process and recognize there’s still a home for you out there. (And your real estate agent can help you find that perfect home for you!)

The real estate market is never static, and the likelihood of success for buyers depends on the season they are buying in.
Wintertime is usually the cheapest time of the year to buy a home. (So yay for homebuyers!) Sellers are also motivated to get their houses off the market. What does this mean for all you soon-to-be homeowners? You can hopefully negotiate your contract to be more favorable for you!

Are you ready to sell your home? Go through this list, and if you resonate with one or more, it’s probably time!
✅ Your home doesn’t fit your lifestyle anymore because you’re growing your family or you want to downsize.
✅ It’s a seller’s market. (A surplus of interested buyers and a limited inventory of homes on the market.)
✅ You’ve reached Maximum Capital Gains Exclusion. This is rare but it can happen, and it’s a great way to optimize your wealth-building potential.
✅ You have enough equity in your home.
✅ You have enough savings or cash in the bank to support any necessary repairs.
✅ You’re feeling ready to move on and willing to put in the work to sell your home.

When you're ready to sell, call your friends at Lux Properties to get it on the market. 🥂

Here are 5 myths you may have heard about mortgages.
1️⃣ You need to save 20% of a home’s listing price for a downpayment. In reality, this percentage will vary — work with your lender to find out a more accurate estimate!
2️⃣ You don’t need to get pre-approved until the sale is in process. Big no! Get pre-approved as soon as you start looking for homes to streamline the process and to demonstrate you’re an eager buyer.
3️⃣ You can’t pay off your mortgage early. Though some loans may require a prepayment penalty (where you would pay a fee to pay off your mortgage early) – this is much less commonly seen now.
4️⃣ You must have perfect credit. There’s no doubt credit plays a significant role in qualifying for a mortgage, but there are still options for people who have low credit scores.
5️⃣ Having debt ruins your chances at getting a mortgage loan. Like credit scores, your debt-to-income ratio is important, but definitely not the only factor.

Contact Lux Properties if you're thinking about buying a home this fall 🥂

Beams, beams, beams! What do you think about this living room?

Check out these vaulted ceilings!

Laundry room storage is essential.

You don't need the luck of the Irish to find your dream home! Let our agents at Lux help you find what you're looking for - send us a message so we can get started today!

What a unique way to store plates!