Eliane Consalvo - KELLER WILLIAMS REALTY / Merrimack Valley



Posted by Eliane Consalvo on 1/8/2017

You may be considering buying a home but it is hard to know if you are ready to be a homeowner. It can be a big step. Buyers that educate themselves on the process and set realistic expectations have the best experiences. To gauge whether or not you are ready to own your first home you should ask yourself some serious questions.

  • Are you in a lease or is your living situation easily changed?
  • Do you need to remain in your current community or would you be willing to move?
  • Do you have the time and resources necessary to make your first home purchase a success?
If you have answered these questions favorably you may well be on your way to homeownership. The next step is to evaluate your financial situation. Here are some questions to check your financial readiness.
  • Do you have a steady source of income?
  • Do you know your credit history?
  • Do you have a down payment ?
  • Are you ready for the financial responsibilities that coincide with home ownership?
If your answers to these questions are positive then it is time to get the loan process started to see how much you can afford. A reputable lender will give you realistic expectations and many offer a free consultation for buyers seeking pre-approval. Now it is time to start your search. Working with an agent that you trust and are comfortable with is very important. My skills include educating you about the buying process, negotiating, having your best interest in mind and helping you find a perfect first home while hopefully saving you time and money.




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Posted by Eliane Consalvo on 9/18/2016

Buying a home is a very important decision. Before you rush into a home you should consider all the factors. Making sure you end up with the right home involves figuring out exactly what features you need, want and don't want in a home. Before starting your search, you should make a "wish list" to decide which features are absolutely essential, which nice “extras” are if you happen to find them, and which are completely undesirable. The more specific you can be about what you're looking for from the outset, the more effective your home search will be. Also keep in mind, that in the end, every home purchase is a compromise. Create your own personalized "wish list" and when you're finished filling it out; share it with your real estate agent. Become an educated buyer •The web is one of the best ways to search for homes today. With this website, you can receive daily emails with new and updated listings from the towns and price range of your choice. •Search the entire MLS for all homes, condos, land, multi family, commercial properties, and past sold properties at your convenience. •View full listing sheets showing amenities, taxes, lot sizes, beds, baths, rooms, siding, fireplaces, garages, room sizes and much more. •Get property addresses and see where the properties are located on MapQuest. •Check schools and community profiles of your preferred towns. •Save preferred listings in your own file to view anytime. •Calculate approximate mortgage payments for specific properties. Home Inspection Once you have made an offer on a home, you will need to schedule a home inspection, conducted by an independent authorized inspector. It is extremely important to hire a reputable inspector so that you know exactly what you are buying. Do not hesitate to ask friends, family, and co-workers for advice. If you are satisfied with the results of the inspection, then you can proceed with the sale. If the inspector finds problems with the property, you may want to negotiate with the seller to lower the price, or to pay for certain repairs. Appraisal Your lender may require you to get an appraisal of the house you want to buy, to make sure it is worth the money that you are borrowing. You may select your own appraiser, or you may ask your real estate broker to help you with this task. Homeowner's Insurance Lenders require that you have homeowners insurance, to protect both your interests and theirs. Like everything else, be sure to shop around for insurance that fits your needs. Settlement or Closing Finally Make Sure Before you Buy Finally, you are ready for the closing. Be sure to read everything before you sign! You should have both your real estate broker and an attorney present at the closing to ensure that all is in order.





Posted by Eliane Consalvo on 7/31/2016

If you have been dreaming of owning a vacation home now may be the time to buy. Home prices and mortgage rates continue to fall and there are some great deals for buyers looking for a second home. Here are five things you need to know before taking the leap. 1. Prices are at all-time lows In many second-home hot spots, prices are still close to their five-year lows. When the real-estate bubble burst, some of the hardest-hit markets were vacation destinations. Many vacation home areas experienced overgrowth and may now be suffering from foreclosures. 2. Think ROI Consider the possible return on your investment. Whether or not you decide to rent the home out, you will want to consider buying a place that has good rent potential. That's because a home's rent ability can affect its resale value. Before you bid on a house, make sure the homeowners association or township allows short-term rentals. 3. Don't count on rental income If you are planning on counting on rental income to cover the costs beware. According to HomeAway.com, a typical second home property rents out just 17 weeks a year. Make sure to account for the weeks the home won't rent. Plus, you'll need to pay for cleaning, maintenance, insurance, and maybe management fees. Make sure to plan on the maintenance costs of the property being at least 15% of the income. 4. Your mortgage rate depends on how you use the home How you use the home depends on the mortgage rate you will receive. If you plan to use the property primarily as a second home and you'll pay about the same mortgage rate as you would on a primary residence. If your plans are to use the home for rental income and need that income to qualify for the loan, you'll need to have as much as 25% for the down payment and pay up to one percentage point more in interest. 5. Take advantage of tax benefits Talk to your tax guy before you buy. If you rent the home out for two weeks or less you won't have to report a cent of income to the IRS. The good news here, you can still deduct property taxes and mortgage interest. On the flipside, if you stay there for less than two weeks or 10% of rental days, you can deduct operating costs in addition to interest and property tax. But where should you buy? According to CNBC here are the top places to buy a second home. If you are thinking about buying a second home I can help you find a professional agent in that area.





Posted by Eliane Consalvo on 5/15/2016

Buying a home can be a scary and confusing process. It is easy to get confused by all of the homes, locations, and what is truly important to you when buying a home. First you will want to determine what you can afford. To do that you will want to get preapproved. That means a bank; mortgage broker or credit union will determine how much of loan you qualify for based on your income, debt and credit score. They will give a pre-approval letter stating how much you can afford. Now it is time to pick a real estate professional to help you find the right home, negotiate on your behalf and help you navigate through the process. It is important that you choose an agent that is reputable; you have interviewed to find a good fit and is willing to listen to your needs. Many buyers often confuse their needs with their wants. Making a list of what you actually need and what you want or your wish list is very helpful when looking for a home. Buying a home is typically a process of elimination. Many home buyers often dismiss homes that perfectly fit their needs in search for one that has their wants. This doesn’t mean you can have your wish list, but home buying is more often defined by your budget than wish lists. To help with this process it is typically helpful to make a list of needs and wants.

Examples of NEEDS Examples of WANTS
Reasonable square footage for comfortable living Paint, carpet, counter tops, accessories.
Bedrooms to accommodate your family Pool or Jacuzzi (unless for medical reasons)
Adequate number of bathrooms Wood floors
Eat-in kitchen Bay windows, skylights
Garage or basement for storage needs Entertainment centers,  moldings, decks and patios
Lot size to accommodate children's play area Upgraded lighting fixtures
Adaptation for Handicapped View
Proximity to a specific school
Single floor living for health reasons
Each individual will have a different list of needs and wants. Your own list will help you evaluate homes as you go through the process. Sharing this list with your real estate professional will also help narrow down your search. The goal is to find a house that includes all of your needs and meets as many of your wants as is practical in your budget.





Posted by Eliane Consalvo on 5/8/2016

There is a saying often used in the real estate industry to refer to buyers, it says buyers are liars. That is in fact not case. The perception comes from the fact that buyers often buy on emotion rather than their needs. Buying on emotions often leaves buyers passing over a potential good deal or fit and instead overpaying for their dream home. Here are some common buyer errors and how to avoid making them. 1: Not using the right agent Choose an agent that works in the local market and never go it alone. An agent has the skills to negotiate the best deal for one of the biggest purchases of your life. A local agent has the lay of land and knows the area well and will be able to find you the right fit. 2: There usually isn’t a better deal When buyers keep waiting for a better deal they often miss out. When you find a house that fits your needs go for it. Don’t wait because there is no guarantee that a better deal will come on the market. 3: Overpaying for cosmetics Look at the structure and the function of the home. Paint colors or décor don’t matter in how much the house is ultimately worth. Often buyers will pay for cosmetics and staging in a home and ignore a better deal that isn’t perfectly decorated or match their taste. 4: Not negotiating realistically Who doesn’t want to get the lowest possible price when buying a home? Buyers need to understand there is a big difference between negotiating and lowballing. If a buyer truly wants a chance at a sale it is best to make a fair offer. Lowball offers often immediately get rejected or cause the seller to become agitated which often ends negotiations. Buyers must understand a lowball offer comes with a risk of losing the property.