Blog - Elizabeth Pelley

Elizabeth's Tips

What’s the difference between Pending or Contingent?

Each home listing has a status that’s updated by information that the listing agent feeds into the multiple listing service (MLS). A home listed contingent or pending is under contract, but there’s still a chance for you to buy it. Most purchase offers for the buyer to back out if they can’t get financing, the […]
Elizabeth's Tips

What is a Seller’s Disclosure? Here’s Why It’s Important

Whether you’re about to purchase a new condo or sell your current home, there is a lot to learn and paperwork to sign. One of these critical documents is called a seller’s disclosure. A seller’s disclosure, also known as a property disclosure, is a document that sellers are legally required to provide buyers. This piece […]
Elizabeth's Tips

Interest Rates: How Fast and How High Will They Climb?

If you’re shopping for a new home now or are hoping for this spring, you probably feel your heart racing a little. The word is out: Mortgage interest rates are on the rise. This means for the same size loan and house, borrowers will have to pay a higher monthly mortgage bill every month. And […]
Elizabeth's Tips

6 Mortgage Tips for Single Parents

If you’re a single parent, it’s arguably more challenging to buy a home than for those in a partnership with dual incomes. Yet it’s easy to see why so many single parents are eager to purchase a house. Beyond finding a perfect kitchen and playroom, owning a home is an integral part of building a […]

Elizabeth's Tips What’s the difference between Pending or Contingent? Each home listing has a status that’s updated by information that the listing agent feeds into the multiple listing service (MLS). A home listed contingent or pending is under contract, but there’s still a chance for you to buy it. Most purchase offers for the buyer to back out if they can’t get financing, the […]

Elizabeth's Tips What is a Seller’s Disclosure? Here’s Why It’s Important Whether you’re about to purchase a new condo or sell your current home, there is a lot to learn and paperwork to sign. One of these critical documents is called a seller’s disclosure. A seller’s disclosure, also known as a property disclosure, is a document that sellers are legally required to provide buyers. This piece […]

Elizabeth's Tips Interest Rates: How Fast and How High Will They Climb? If you’re shopping for a new home now or are hoping for this spring, you probably feel your heart racing a little. The word is out: Mortgage interest rates are on the rise. This means for the same size loan and house, borrowers will have to pay a higher monthly mortgage bill every month. And […]

Elizabeth's Tips 6 Mortgage Tips for Single Parents If you’re a single parent, it’s arguably more challenging to buy a home than for those in a partnership with dual incomes. Yet it’s easy to see why so many single parents are eager to purchase a house. Beyond finding a perfect kitchen and playroom, owning a home is an integral part of building a […]

Elizabeth's Tips Supply and Demand: What does that tell us about today’s market? The law of supply and demand explains what’s happening with prices in the current real estate market. Put simply, when demand for an item is high, prices rise. When the supply of the item increases, prices fall. Of course, when demand is very high and supply is very low, prices can rise significantly. Why Are […]

Elizabeth's Tips How to get over losing out on a home You had such big dreams for the two of you. You were ready to make the big commitment. You thought you’d grow old together. But then your offer on the house didn’t go through. You lost out. You won’t be buying that perfect-for-you place. You won’t be cooking in the all-white modern farmhouse-style kitchen or […]

Elizabeth's Tips Find and Fix Drafty Windows Before the cold sets in, it’s important to ensure that your home remains comfortable despite the outside temperatures. It’s important to take a close look at your windows. Windows with air leaks not only let in cold air but also allow heated air to escape. There are many ways to seal such drafts — but […]

Elizabeth's Tips Accessory Dwelling Units: Tips for Building One! Before building an accessory dwelling unit, there are some legal, design, and financial implications to consider. Accessory dwelling units or ADUs — those separate living units tucked inside a single family home or sharing land with one — are increasing in popularity. Dozens of cities and counties, and at least nine states have changed or […]

Elizabeth's Tips Why Should You Stage Your Home To Sell? As the real estate market turns sluggish, you may have to take steps to set your home apart from others. It won’t be enough to just put out a for-sale sign and wait for potential buyers. One way that homeowners can sell their homes more speedily is by home staging, which can have the added benefit of […]

Elizabeth's Tips AVOID THESE MISTAKES THAT DELAY LENDER APPROVALS If you’re getting ready to buy a home, you’re likely realizing that one of the most important parts of the process is getting approved for a mortgage that works for you. To get the best rate and avoid losing your deposit, steer clear of these common mistakes. Leaving out details from your financial profile. The […]

Elizabeth's Tips What Is A Short Sale? An increase in foreclosure rates will inevitably bring with it an increase in short sales. But what is a short sale? A short sale happens when you sell your house for less than your remaining mortgage balance, the proceeds of which go to the lender and in return the lender forgives the remaining balance. Selling […]

Elizabeth's Tips Why Waiting To Buy Is Costing You Many people are sitting on the fence trying to decide if now’s the time to buy a home. Some are renters who have a strong desire to become homeowners but are unsure if buying right now makes sense. Others may be homeowners who are realizing that their current home no longer fits their changing needs. To […]

Elizabeth's Tips Do I Need Neutral Painted Walls To Sell My Home? “If you want to sell your home, paint your rooms beige.” That could be the rallying cry of real estate agents across the country, and for good reason. Presentation and first impressions mean everything when selling a home, and the men and women who make their living selling homes know that neutral colors will generally spark more […]

Elizabeth's Tips How To Make Your Offer Stand Out In today’s market, it’s not uncommon to be in competition with several other buyers for your dream home. When you find that perfect house, with the chic chandelier and the doggy door for Fido, the last thing you want to do is lose it because your offer didn’t stand out to the seller, Taking the […]

Elizabeth's Tips Tips on the Real Estate Closing Process 1. WHAT AM I BUYING? Make sure you have done your due diligence and inspected the property thoroughly. This could be the biggest investment you ever make (emotionally as well as financially) so know what you are getting yourself into before you seal the deal. 2. WHAT SORT OF LOAN AM I GETTING? Before you […]

Elizabeth's Tips What is APR and how Does It Impact My Mortgage? If you’ve ever gone shopping for a home mortgage or refinance you’ve probably seen an interest rate advertised as, for instance, “Rate: 2.65%; APR: 2.7%.” The annual percentage rate (APR) represents the average annual finance charge you’ll be paying on the loan when including all the fees and costs associated with getting that loan. This can include […]

Elizabeth's Tips Deciding To Buy A Fixer-Upper If you are a fan of HGTV, you have probably seen your fair share of fixer-uppers. TV shows tend to make everything look easy, especially home flipping or updating. So how do you decide if a fixer upper is worth your time? Here are a few scenarios where diving in usually pays off. 1. The […]

Elizabeth's Tips What To Expect During Inspection When you are buying a home for the first time, you’re likely to run into many processes that you haven’t been through before. One of the most important parts of the purchasing process is your property inspection. It may seem daunting, but if you know your role and the role of others, it can make […]

Elizabeth's Tips How Homeowners Are Ditching The Tub Homeowners are looking for large, high-tech bathrooms with sleek color palettes and finishes, according to the Houzz 2017 Bathroom Trends Report. On average, homeowners spent $21,000 to remodel bathrooms exceeding 100 square feet. That cost drops to about $12,300 for homeowners with smaller bathrooms that are less than 100 square feet. When it comes to age […]

Elizabeth's Tips What Is the Top Financial Benefit of Homeownership? There are many financial and non-financial benefits of homeownership, and the greatest financial one is wealth creation. Homeownership has always been the first rung on the ladder that leads to forming household wealth. As Freddie Mac explains: “Homeownership has cemented its role as part of the American Dream, providing families with a place that is their own and […]