Should You Make an Offer on a New Listing?

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In this market, a lot of people are wondering, "Should I put an offer on a new listing?" When people ask this, they are mostly concerned about overpaying. However, I think you absolutely can make an offer on that new listing, and there are a few simple things you can do to make sure you get a good buy.

First of all, make sure you hire a local real estate expert. My team shows homes every day here in Rochester. We know the market trends, and what homes are selling for.

Second, make an offer based on market value. We can certainly help you with this. Ignore the list price - the seller might be hoping to get higher offers. Oftentimes, I see a home sell for 5% or 10% less, and then go to pending in two days. Your agent can help you make sure that you make a good offer.

If you have any questions about today's video, give me a call or send me an email. I'd be happy to help you!

Is it Better to Have Bad Credit than No Credit?

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Want to buy a Rochester Area Home? Search all homes for sale.

If you're going to obtain mortgage financing, which is worse: no credit, or bad credit?

The short answer is that having no credit is worse. You'll have a hard time getting a credit card or a mortgage because you have no history to present to a creditor or a bank.

You have to start somewhere to build credit. You need to build installment credit with things like car loans or mortgages, and you need to pay off credit cards. Ultimately, having no credit makes it tougher to get a loan.

If you have bad credit, you can get a loan, but you will pay more on interest.The best thing to do is take care of bad credit. Pay down your cards to 25%, make your payments on time, and stay away from bankruptcy or foreclosures.

If you have a low credit score but can make mortgage payments on time, we can cut into the credit cards and get you a better credit score, which will get you a better interest rate.

If you have any questions, please give me a call or send me an email. I'd be happy to help you!