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Closing on a House: A Step-By-Step Buyer’s Guide
The process of closing on a house is the final stretch before home ownership is transferred and the property becomes legally yours. If you’re a new homebuyer, the closing process and its various steps can be confusing and intimidating. This short guide will outline the home closing process and help simplify your final steps to home ownership.
10 Steps to Closing on a House
The closing process can vary from transaction to transaction but generally tends to follow the same basic milestones. Here are 10 major steps of the closing process you’ll need to follow to complete your home purchase.
1. Offer and Acceptance
The closing process typically begins when the seller accepts your offer to purchase the home. This agreement sets the terms, including the purchase price and any contingencies.
2. Open an Escrow Account
Escrow plays a pivotal role in the real estate closing process. An escrow account is established to hold funds and documents until the transaction is finalized. This account is managed by a neutral third party, such as an escrow agent or title company, which also manages the transfer of the property title.
3. Conduct a Title Search and Obtain Title Insurance
A title search ensures the property is free of liens or ownership disputes so you can be sure you’re buying a home with a clear title. Meanwhile, title insurance protects you from future claims against the property and covers legal costs if past owners have unresolved claims. Together, a title search and insurance provide a buyer with legal safeguards and extra peace of mind during the closing process.
4. Schedule a Home Inspection
Hire a professional inspector to evaluate the property’s condition. Address any issues identified during the inspection by negotiating repairs or price adjustments with the seller. While costly, this will save you from any unexpected repairs and expenses after closing.
5. Negotiate Closing Costs
Work with the seller to determine who will cover specific closing costs, which may include loan fees, appraisal fees, and title insurance. Always review your settlement statement thoroughly to understand what costs you’re responsible for and if any are negotiable.
6. Secure Financing
Finalize your mortgage by submitting required documents, locking in your interest rate, and obtaining loan approval. Ensure you receive a Loan Estimate and Closing Disclosure from your lender. Timelines for a mortgage approval can vary, so stay in constant communication with your lender to monitor progress and respond promptly to any additional requests they make.
7. Review All Documents
Carefully review the Closing Disclosure (or settlement statement), which outlines the final loan terms and closing costs. Pay special attention to any discrepancies in loan terms or fees to avoid unexpected expenses in the future. Verify all details are accurate and address any remaining issues immediately.
8. Conduct a Final Walk-Through
Perform a final inspection of the property within 24-48 hours before closing. Confirm the property is in the agreed-upon condition and that all negotiated repairs have been completed. Following a walk-through checklist can be a convenient way to personally check each area of the home ands its condition.
9. Attend the Closing Meeting
At the closing meeting, sign all necessary documents, including the deed, mortgage, and promissory note. Pay the remaining closing costs and down payment. Address any potential closing delays, such as remaining problems from the title search or home inspection.
10. Transfer of Ownership
Once all documents are signed and funds are transferred, the title is recorded, and ownership officially transfers to you. You’ll receive the keys to your new home and will finally be ready to begin moving in. Congratulations!
Conclusion: From Buyer to Homeowner
With the closing transaction complete, it’s time to enjoy your new home! Before putting your closing behind you, take care of any post-closing responsibilities you may still have to a third party other than your lender. Next, you’re ready to begin your transition into the next step of your journey as an official new homeowner.
Interested in closing on a house or making that first leap into home ownership but unsure where to start? Contact us today to connect with an expert real estate agent for help on your homebuying journey, or start a property search in your local area now.
The Top 5 Neighborhoods in Janesville, WI
Janesville, Wisconsin, a medium-sized city that connects South Central Wisconsin, offers a selection of neighborhoods each with its own unique character and distinct features. Whether you’re looking for a family-friendly suburb, proximity to Janesville’s abundant outdoor facilities, or historic urban charm, Janesville’s housing market has something for everyone. In no particular order, here are five of the best neighborhoods in Janesville, WI to consider when you want to buy a home in Wisconsin’s Park Place.
1. Courthouse Hill
Nestled close to the heart of downtown Janesville, the Historic Courthouse Hill District is renowned for its beautifully preserved Victorian homes and tree-lined streets. Added to the National Register of Historic Places in 1986, this neighborhood’s homes date as far back as the mid-19th century when Janesville’s early leaders resided there.
Courthouse Hill is perfect for those who appreciate classic architecture and a present sense of history. Neighborhood residents enjoy close proximity to local landmarks, community events, and the Rock County Historical Society. Courthouse Hill is also home to Courthouse Park, a 3-acre public park that hosts live music in the summer and other community events year-round.
2. Old Fourth Ward
Across the Rock River from Courthouse Hill is the Old Fourth Ward Historic District, another notable neighborhood of Janesville’s past that was added to the National Register of Historic Places in 1990. Contrasting with Courthouse Hill, the Fourth Ward is a working-class neighborhood with smaller, more numerous homes and a higher number of new constructions. This area is close to public parks like Fourth Ward Park and several local schools, making it an ideal spot for families looking for an affordable house for sale in Janesville.
3. East Side
As the name suggests, the east side of Janesville is situated on the eastern side of the Rock River and extends into the city’s outskirts. Offering a more suburban locale, the east side home to many new, growing subdivisions and includes a larger selection of newer constructions varying in size and style compared to other neighborhoods in Janesville. This area is a haven for those seeking the freedom of a suburban lifestyle while still being minutes away from the Janesville’s bustling center.
Points of interest on the East Side include the commercial areas off of Interstate 90 for shopping and dining and the Janesville Youth Sports Complex, where many of the area’s youth sports games are held. The near east side of the neighborhood is also home to Rotary Botanical Gardens, an award-winning 20-acre botanical garden open to the public. With easy access to the city, shopping centers, and the Interstate, Janesville’s east side is a perfect option for growing families in need of a convenient suburban lifestyle.
4. Look West
The Look West Historic District is located on the city’s northwest side and encompasses much of the area immediately west and northwest of West Centerway. This area was once known as Janesville’s First Ward, and has deep roots in the city’s rail and manufacturing past, reflecting the economic forces that shaped the town during the 19th century. Today, Look West’s diverse range of stately Victorian homes to modest cottages offers a glimpse into the past, speaking to the stories of the people who built them.
The Look West neighborhood offers a distinct mix of historical ambiance in Janesville’s downtown with homes that are largely updated properties but still affordable. Historical landmarks like the Lincoln-Tallman Museum are easy to find, and cultural and community amenities like the Marvin Roth Community Pavilion and the Janesville Farmer’s Market are a short walk away.
5. Northeast
Janesville’s far northeast area has long been a scene of suburban expansion and new home construction, and is one of the city’s fastest-growing and most affluent areas. While the downtown neighborhoods represent Janesville’s formative history, the city’s northeast area represents its productivity and prosperity over the past several decades following a period of massive growth in the 1950’s and 1960’s when Janesville’s population nearly doubled. Many Janesville homes built in the past decade are located here, and newer developments from commercial spaces to municipal facilities are commonplace.
Places of interest in Janesville’s northeast include Sheiffer Park, an 87-acre public park opened in 2019 and a focal point for many of the area’s new subdivisions. The Uptown Janesville Mall has been a longstanding fixture of the northeast since 1973, acting as an anchor for the many shopping and dining options located off the Interstate nearby. This area is also a short drive from Milton, WI, another suburban area known for being a great place to live.
Why Janesville?
Janesville isn’t just a place to buy a house; it’s a community where you can plant roots. The city is known for its extensive parks system, plentiful recreational opportunities, and a thriving arts scene. Janesville’s neighborhoods reflect the city’s dedication to providing a high-quality life for its residents, and there’s plenty more to discover and love about Wisconsin’s Park Place.
The Janesville, WI Housing Market
With a stable real estate market, Janesville offers a range of options for potential homeowners. From historic homes to new constructions, the diversity of the housing stock means there’s something for every preference and budget.
No matter which neighborhood you choose, Janesville’s welcoming community and rich heritage make it a special place to call home. If you’re looking to buy a house in Wisconsin’s Park Place, exploring these top neighborhoods in Janesville is an excellent start.
Are you considering a move to Janesville? Reach out today and let us assist you in finding the perfect place to settle down.
How to Get a Real Estate License in Wisconsin
Are you considering embarking on a career in real estate sales in the Dairy State? First, you’ll need to become officially licensed.
A real estate license is your ticket to a rewarding realty career, opening doors to numerous opportunities. But how do you get a real estate license in Wisconsin?
In this guide, we’ll walk you through the process of how to get a real estate license in Wisconsin. From meeting eligibility criteria to passing the Wisconsin real estate license exam, we’ve got you covered. Let’s get started.
Understanding Wisconsin Real Estate Licensing Requirements
Before getting started, make sure you understand the basic licensing requirements. In Wisconsin, these are set by the Wisconsin Department of Safety and Professional Services (DSPS).
The requirements include specific education, exam, and application steps. These ensure you’re well-prepared for your real estate career.
Here’s a quick overview of the requirements:
- Be at least 18 years old
- Complete 72 hours of pre-licensing education
- Pass the Wisconsin real estate license exam
- Apply for the license with DSPS
- Find a sponsoring broker
Step 1: Meet the Eligibility Criteria
The first step is to ensure you meet the basic eligibility criteria. You must be at least 18 years old to apply for a real estate license in Wisconsin.
Also, you must have a high school diploma or equivalent. This is a standard requirement across most states.
Step 2: Complete Pre-Licensing Education
Next, you need to complete the required pre-licensing education. This is a 72-hour course approved by the DSPS and administered at a board-approved institution.
The course covers key topics like real estate law, contract law, and principles of real estate. It prepares you for the Wisconsin real estate license exam. We offer our own board-approved licensing course taken totally online and available at a discounted rate.
Upon completion of an approved course, you will receive a certificate. This is proof of your successful completion of your pre-licensing education and must be provided to DSPS when applying for your license.
Alternatively, you can also complete 10 academic semester hour credits in real estate or real estate-related law at an approved institution of higher learning.
Step 3: Register for the Wisconsin Real Estate License Exam
After completing your pre-licensing education, it’s time to register for the exam. You can do this through Pearson VUE, which the state has partnered with to administer real estate exams.
The Wisconsin exam consists of two parts: the national portion and the state-specific portion. Both parts must be passed to qualify for a license.
Remember to schedule your exam date well in advance to secure your preferred timeslot.
Step 4: Study and Pass the Wisconsin Real Estate License Test
The Wisconsin real estate license test is a comprehensive exam. It covers a wide range of topics, from property laws to ethical guidelines.
To pass, you’ll need to study diligently. Consider using study guides and practice tests to prepare. These resources can help you understand the exam format and the types of questions you’ll face.
Remember, passing the exam is a crucial step in getting your real estate license in Wisconsin. So, take your preparation seriously.
Step 5: Apply for Your Real Estate License
Once you pass the exam, it’s time to apply for your license. You’ll need to submit an application to the Wisconsin DSPS online LicensE platform.
The application process involves providing proof of your education and exam results. You’ll also need to pay the required fees.
Remember, the DSPS will review your application before issuing your real estate license, so ensure that all your information is complete and accurate.
Step 6: Choose a Sponsoring Broker
After getting your license, you’ll need to find a sponsoring broker. This broker will guide you through your early career stages.
Choose a broker who aligns with your career goals. They should offer support, training, and a conducive work environment.
If you’re interesting in joining one of the largest real estate brokerages in Wisconsin, consider earning your license with us at CENTURY 21 Affiliated.
Maintaining Your Real Estate License in Wisconsin
Once you have your license, it’s crucial to keep it active. This involves meeting certain requirements set by the DSPS and reapplying every two years.
These include:
- Completing approved continuing education courses.
- Renewing your license every two years or on every even-numbered year by December 14.
- Staying updated on changes in real estate laws and regulations.
The Top 5 Fastest-Growing Cities in Wisconsin
Like many areas throughout the country, Wisconsin has seen varied population growth across its cities in recent years following the COVID-19 pandemic. This growth is often driven by homebuyers seeking affordable homes or stronger local economies, and there are several areas enjoying particularly strong influxes of new residents. In this post, we’ll explore the five fastest-growing cities in the state of Wisconsin, based on recent data and trends.
1. Madison
Madison, the ever-popular capital city of Wisconsin, has experienced significant population growth in recent years. Between 2020 and 2023, Madison’s population increased by 4.4%, from 274,686 to 286,785 residents. This growth continues a trend observed over the past decade, where the city saw a 17.7% increase in population from 2010 to 2020. Madison’s robust growth can be attributed to its strong economy, education opportunities, and consistently high livability and quality of life rankings.
2. Fitchburg
Fitchburg, a suburb south of Madison and part of the Madison metropolitan area, has also seen substantial post-pandemic growth. From 2020 to 2023, the city’s population grew by 9.74%, from 30,999 to 34,019 residents. Fitchburg’s recent growth rate is one of the highest in the state, reflecting the town’s appeal as a suburban community with convenient access to the nearby amenities of Madison.
3. Sun Prairie
Sun Prairie, yet another city in Dane County, has experienced a 6.73% population increase from 2020 to 2023, growing from 35,967 to 38,387 residents. Over the past decade, Sun Prairie’s population has surged by 29.3%, making it one of the fastest-growing cities in Wisconsin. Sun Prairie’s growth is strongly driven by its proximity to Madison, family-friendly suburban environment, and considerably strong economic development.
4. Oak Creek
Oak Creek, located on the southwestern shores of Lake Michigan in Milwaukee County, saw a 4.59% increase in population from 2020 to 2023, growing from 36,497 to 38,174 residents. This growth is significant given the overall population decline in Milwaukee County during that same period. Oak Creek’s rising population and development is supported by its strategic location between Milwaukee and Chicago and expanding residential and commercial sectors.
5. Eau Claire
On the opposite side of the state, the city of Eau Claire has enjoyed a 2.71% population increase from 2020 to 2023, growing from 69,421 to 71,304 residents. This growth has positioned Eau Claire as the seventh-largest city in Wisconsin, surpassing Waukesha since the last U.S. census in 2020. Eau Claire has long stood as an attractive destination thanks to its reputation as a cultural hub and close proximity to Minnesota’s Twin Cities. Other notable attractions driving Eau Claire’s growth include its vivacious arts scene and ongoing municipal investments such as the expansion of its downtown area.
The cities of Madison, Fitchburg, Sun Prairie, Oak Creek, and Eau Claire are leading the way in population growth in Wisconsin. These destinations offer a compelling combination of economic opportunities, quality of life, and strategic locations that are driving new residents into their welcoming arms. If you’re interested in making a move to one of Wisconsin’s most popular cities, start a search for a new home today or contact us to get in touch with a local real estate expert.
What Credit Score Do You Need To Buy a House?
Buying a house is a major milestone for many people, but it can also be a daunting process. One of the biggest concerns for potential homebuyers is their credit score. So what credit score do you need to buy a house in Wisconsin? Let’s explore this question and how it relates to the housing market.
Understanding Credit Scores
Before we dive into the specific credit score needed to buy a house, it’s important to understand what a credit score is and how it is calculated. A credit score is a three-digit number that represents your creditworthiness and is used by lenders to determine your risk as a borrower. The most commonly used credit score is the FICO (Fair Isaac Corporation) model, which ranges from 300 to 850 and prioritizes payment history. The other credit score type is the VantageScore model, which prioritizes total credit usage and is typically referred to less often.
Your FICO score is calculated based on several factors, including your payment history, amounts owed, length of credit history, new credit, and types of credit used. Credit payment history and amounts owed are typically the most significant factors in determining your FICO score. Keeping your credit balances low and making regular on-time payments are the best ways to maintain a good FICO score. The higher your credit score, the better your chances of getting approved for a loan and receiving favorable mortgage rates.
The Housing Market and Credit Scores
The housing market is constantly changing, and this can have an impact on the credit score needed to buy a house. In a strong housing market, lenders may be more lenient with credit score requirements as they are more confident in the market’s stability. On the other hand, in a weaker housing market, lenders may tighten their requirements and look for higher credit scores to mitigate their risk.
Credit Score Requirements for Different Types of Loans
Different types of loans have different credit score requirements. For example, a conventional loan typically requires a credit score of at least 620, while an FHA loan may accept a credit score as low as 500 with a 10% down payment. While a higher credit score will usually result in better mortgage rates and loan terms, it’s always advisable to compare the repayment terms of different loan offers before accepting one. While a loan with a lower down payment may be enticing in the short term, a lower interest rate will results in a lower monthly payment, saving you more in the long term.
Good Credit Score for Buying a House
While the minimum credit score required for a mortgage loan may vary, a good credit score for buying a house is generally considered to be 700 or above. In particular, Wisconsin has one of the highest average credit scores in the country at 732, which falls in the upper end of the “Good” score range. Having an average credit score or better shows lenders that you are a responsible borrower and can handle the financial responsibility of a mortgage. With a good credit score, you are more likely to be approved for a loan and receive favorable mortgage rates.
Improving Your Credit Score
If your credit score isn’t where you want it to be, don’t worry. There are steps you can take to improve your credit score before applying for a mortgage. These include paying off outstanding debts, making all payments on time, and keeping credit card balances low. It’s also a great practice to regularly check your credit report for any errors and dispute them if necessary. Generally, the best way to build your credit score over time is to make regular monthly payments that slowly lower your total credit usage.
Final Thoughts
The credit score needed to buy a house can vary depending on the local housing market and the type of loan you are applying for. With that said, a good credit score for buying a house is generally considered to be 700 or above. If your credit score is not where you want it to be, take steps to improve it before applying for a mortgage. Keep in mind that the average credit score in Wisconsin is relatively high at 732, and that meeting or exceeding this score will grant you a valuable advantage. With a good credit score, you can increase your chances of loan approval and receive better mortgage rates that will save you a considerable amount of money in the long run.
Brian Gooding Joins CENTURY 21 Affiliated – Fine Homes & Estates as Vice President of Brokerage Services in California
San Diego, August 5, 2024 — CENTURY 21 Affiliated – Fine Homes & Estates is proud to announce the appointment of Brian Gooding as the new Vice President of Brokerage Services in California. With over 30 years of real estate experience, Gooding brings a wealth of knowledge, leadership, and a passion for luxury real estate to the role.
Brian Gooding’s career in real estate began over four decades ago, and since then, he has spent 17 years with Windermere in Southern California, where he served as a Manager, General Manager, and Owner. In addition to his achievements at Windermere, Gooding has made substantial contributions to other renowned real estate organizations. He worked as the Chief Business Development Officer for Cascade Sotheby’s in Oregon and Southwest Washington, and as the Co-President of Keller Williams Realty Boise. Gooding also spent seven years on three different Caribbean islands working with high-net-worth individuals on luxury resort projects.
Gooding’s appointment as Vice President of Brokerage Services at CENTURY 21 Affiliated’s luxury division, Fine Home & Estates, marks a new chapter in his distinguished career. In this role, he will oversee the brokerage operations and the luxury division in California, driving growth, innovation, and excellence in the industry. His extensive experience, particularly in the luxury property market, positions him perfectly to elevate CENTURY 21 Affiliated’s offerings and reinforce its reputation as the #1 CENTURY 21 in the world.
“We are thrilled to welcome Brian Gooding to the CENTURY 21 Affiliated – Fine Homes & Estates family,” said Dan Kruse, CEO & Owner of CENTURY 21 Affiliated – Fine Homes & Estates. “His proven track record, deep industry knowledge, and passion for luxury real estate make him an invaluable addition to our team. We are confident that Brian’s leadership will propel our California operations to new heights.”
Brian Gooding expressed his excitement about joining CENTURY 21 Affiliated – Fine Homes & Estates, stating, “I am honored to take on this role and contribute to the continued success of CENTURY 21 Affiliated and our Fine Homes & Estates Luxury Division. The company’s commitment to excellence and innovation aligns perfectly with my professional values. I look forward to working with the talented team in California to achieve our shared goals and deliver exceptional results for our clients.”
About CENTURY 21 Affiliated – Fine Homes & Estates
CENTURY 21 Affiliated is a member of multiple listings services in California, Illinois, Michigan, Minnesota, and Wisconsin, with over 1,400+ sales professionals and 70+ offices. CENTURY 21 Affiliated also specializes in worldwide relocation. At CENTURY 21 Affiliated, the customer comes first. The complete commitment to this philosophy has made CENTURY 21 Affiliated such a powerful force in the real estate industry. CENTURY 21 Affiliated has been ranked the No. 1 CENTURY 21® franchise worldwide for ten years in a row. Visit C21Affiliated.com to learn more.
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Modular Homes vs. Regular Homes: How Do They Compare?
Between the woes of rising home prices and a lack of new inventory, many eager home buyers are exploring newer, more accessible options for achieving home ownership. One increasingly popular choice among new homeowners is the modular home, a type of prefabricated housing designed to offer increased affordability, customizability, and even construction quality over conventional site-built homes. But what exactly is a modular home, and how does it compare to a traditional single-family home? Keep reading for all the information you need to answer these questions and decide if a modular home is right for you.
What is a Modular Home?
Modular homes are a type of prefabricated housing built in individual sections or modules in a factory and then transported to the site for assembly. Unlike other prefab units, modular homes are placed onto a permanent foundation during assembly, and are built to the same building codes and regulations as traditional homes. Because modular homes are composed of different modules or “pieces”, the buyer has much more freedom and control over the design, layout, and style of the final product.
The main difference between modular homes and other prefabricated housing is the construction process. Modular homes begin as individual modules built in a controlled factory environment, which allows for increased efficiency and quality control. Once the modules are completed in the factory, they are transported to the site and assembled to create the finished home. This assembly process typically takes a shorter amount of time compared to traditional home construction, as the modules are already built and only need to be connected together. The result is a quickly-built and affordable new home, custom-tailored to fit the buyer’s preferences and needs.
Despite these differences from traditional site-built homes, modular homes are subject to the same building codes and meet the same standards of quality and safety. However, like any manufactured product, quality of service and construction can vary between sellers, so it’s advisable to buy from a trusted builder.
Quality Construction
One major advantage of modular homes is the quality construction that scaled factory production provides. In addition to following the same building codes as regular homes, the controlled factory environment ensures that modular homes are consistently produced at a set quality standard. Reputable manufacturers also produce home modules using the same materials that regular home builders do, making sure that a completed modular home meets or exceeds the quality of a traditional one. Of course, this may vary between manufacturers, so it’s always a good idea to research and confirm a builder’s practices before choosing one.
Customizable Options
As their nature implies, modular homes offer customization and creative freedom far beyond a traditional home. The ability to choose and combine different modules provides a considerable number of potential floorplans, allowing homeowners to personalize their new living space. Modular homes also offer the flexibility of adding additional modules in the future, providing the option to expand and adapt your home over time. Meanwhile, regular homes often have limited options for expansion, especially in planned communities or developments. This is even truer of starter homes, which can be costly to expand with added square footage thanks to construction costs. Naturally, this leads us to the last and perhaps most attractive strength of modular construction: cost-effectiveness.
Affordability
Modular homes and their owners enjoy considerable advantages in cost and affordability over regular homes. According to SoFi, modular homes tend to be 10% to 20% cheaper than traditional homes. The simplicity and efficiency of large-scale factory production means modular homes can be constructed and assembled at much lower costs than traditional homes. In addition, housing modules made with high quality materials are often more energy-efficient thanks to more effective insulation, which results in savings on utility bills during summer or winter. The combination of these lower costs provides a home that’s not only more affordable to buy, but more affordable to live in as well. In contrast, regular homes can have higher construction costs due to the increased labor required. The potential for weather delays can also extend a new house’s required construction time, driving up the final cost even further.
Is a Modular Home Right for Me?
Modular homes can be a great option for new home buyers who want the option to expand in the future, but there are downsides to consider as well. You’ll need to work with a contractor to purchase a parcel of land for your modular home, and finding suitable land can be difficult. Purchasing a modular home might require a construction loan rather than a mortgage, and some lenders may not finance a modular home due to unfamiliarity and inexperience. Reselling a modular home can also be challenging due to their customization as well as public misconceptions about their quality and desirability.
If you’re considering a modular home but have reservations, it’s always a great idea to consult a real estate professional or financial advisor. Modular homes certainly aren’t for everyone, but they can be the perfect alternative to the costs and long-term commitments of a regular home.
CENTURY 21 Affiliated Partners with JSerra Catholic High School to Foster a Passion for Real Estate in Young Students
CENTURY 21 Affiliated and JSerra Catholic High School in San Juan Capistrano, California have joined forces to offer real estate salesperson opportunities to qualified JSerra students in San Juan Capistrano, CA.
JSerra’s law magnet program allows a select group of students to complete three real estate classes, making them eligible to take the California Real Estate License Exam when they turn eighteen.
CENTURY 21 Affiliated is a family-oriented business with 85 locations and 1,400 real estate professionals throughout the California, Illinois, Michigan, Minnesota and Wisconsin. The #1 CENTURY 21 in the world is led by CEO and Owner Dan Kruse, President and Owner Jasen Schrock, and President of Brokerage Sam Bell.
“CENTURY 21 Affiliated is excited to team up with JSerra’s Law Magnet Program. We believe that training students about real estate as a business and career is essential to the realization of the American Dream now and in the future,” said Sam Bell. “Additionally, we feel that real estate is a strong career choice that is often overlooked by high school students. We are excited that JSerra sees the value of real estate professionals and has taken the initiative to offer real estate courses.”
“JSerra is blessed to have such fine individuals looking after our students. We know our students will be in good hands with these leaders supporting and guiding them. They have extensive training opportunities and excellent brokers who will mentor and guide our students on the path to being ethical, educated, and professional real estate salespersons,” said Pat Ahle, Director of the JSerra Patrick Ahle Law Magnet Program.
This partnership underscores CENTURY 21 Affiliated’s dedication to nurturing the next generation of real estate professionals. The collaboration with JSerra Catholic High School exemplifies the company’s commitment to education and mentorship, ensuring that students receive the guidance and support needed to thrive in the competitive real estate industry. As these students embark on their professional journeys, CENTURY 21 Affiliated stands ready to help them achieve their dreams and build a successful future in real estate.
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Agent Spotlight Series: Ashley Pilarowski
Meet Ashley Pilarowski, one of our Affiliated real estate agents based in our Madison, Wisconsin office, and learn her personal insights on the industry.
Why Pre-Approval Is Your Homebuying Game Changer
If you’re thinking about buying a home, pre-approval is a crucial part of the process you definitely don’t want to skip. So, before you start picturing yourself in your new living room or dining on your future all-season patio, be sure you’re working with a trusted lender to prioritize this essential step. Here’s why.
While home price growth is moderating and mortgage rates have been coming down in recent weeks, affordability is still tight. At the same time, there’s a limited number of homes for sale right now, and that means ongoing competition among hopeful buyers. But, if you’re strategic, there are ways to navigate these waters – and pre-approval is the game changer.
What Pre-Approval Does for You
To understand why it’s such an important step, you need to know more about pre-approval. As part of the homebuying process, a lender looks at your finances to determine what they’re willing to loan you. From there, your lender will give you a pre-approval letter to help you understand how much money you can borrow. Freddie Mac explains it like this:
“A pre-approval is an indication from your lender that they are willing to lend you a certain amount of money to buy your future home. . . . Keep in mind that the loan amount in the pre-approval letter is the lender’s maximum offer. Ultimately, you should only borrow an amount you are comfortable repaying.”
Getting pre-approved starts to put you in the mindset of seeing the bigger financial picture, one step at a time. And the key is actually more than just getting a pre-approval letter from your lender. The combination of pre-approval and strategic budgeting is your golden ticket to understanding what you can actually afford. It saves you from painful heartaches down the road so you don’t fall in love with a house that might be out of reach.
Pre-Approval Helps Show Sellers You’re a Serious Buyer
But that’s just the beginning. Let’s face it, there are more people looking to buy than there are homes available for sale , and that creates competition among homebuyers. That means you could see yourself in a multiple-offer scenario when you get ready to make your move. But getting pre-approved for a mortgage can help you stand out from other buyers.
In today’s fast-moving housing market, having that pre-approval in your back pocket can be your secret weapon. When sellers see you’re pre-approved, it tells them you’re a strategic and serious buyer. In a world of multiple offers, that’s a big deal. As an article from the Wall Street Journal (WSJ) says :
“If you plan to use a mortgage for your home purchase, preapproval should be among the first steps in your search process. Not only can getting preapproved help you zero in on the right price range, but it can give you a leg up on other buyers, too.”
Pre-approval shows sellers you’re more than just a window shopper. You’re a buyer who’s already undergone a credit and financial check, making it more likely that the sale will move forward without unexpected delays or issues. Sellers love that because they see your offer as a reliable one. A win-win, right?
Bottom Line
So, before you start mentally arranging furniture in your dream home, work with a trusted lender to get your pre-approval set. It’ll save you time, stress, and a lot of headaches that could come up along the way without it. The reality is, the more prepared you are, the more likely you are to land the home you’re longing for.
