You Only Have One Chance to Make a First Impression & That Includes the Internet

With more and more people turning to the internet for shopping, it was only a matter of time before people started to do the same when searching homes for sale.  Gone are the days when you relied on a real estate agent for access into a homes interior, and he/she would have to drive you around to show you a variety of homes just to walk in the door, know that it is not what you want, and walk right back out.  Now potential buyers have that power to explore inside, outside and all around houses all by themselves without having to leave the comfort of their home, or with their smart phone as they are out and about.

With this in mind, the demand for quality real estate photographs has never been higher, and yet, we still find home photos on line that are dark, that are of a corner of a room, and are just poor quality.  Heck, there are even photos of laundry thrown about and dishes in the sink.  When searching homes for sale online, you will inevitably come across many potential homes.  However, the only ones that will be given a second look at are those that are presented well in the photos.  After all, if the house does not look good in a picture, what are the odds of it looking good in person? 

There are two main problems that occur in amateur real estate photography that are sure to cause a potential buyer to gloss over the listing online.  The first is perspective and the second is season.

Many real estate agents are content with standing directly in front of a home when taking a front shot.  This provides no depth to the house and makes it look smaller than it is and almost cartoonish.  Instead, the better perspective would be to move off to one side of the house and crouch down.  That way, the building looks bigger by comparison, and you can see how far back it goes.  Even if the house does not go back very far, it at least lets a potential buyer know that there is a home behind that door.

  Second, the issue of seasonal photographs is such an obvious one that it seems everybody should be aware of it.  If I am looking for a house in the summer, it will be hard to picture myself there if the photo was taken under two feet of snow. 

For those agents who do not have an eye for architectural photography or the ability to enhance photos, it is a wise investment in having them taken by a professional.  There is no better way to peak interest in a home than to have quality images on line as soon as the property is listed.  It is all about that 1st Impression. 

The Importance of Credit Scores in Real Estate

The search for a new home can be an exciting one; however, before you begin your quest for that dream home, your Realtor® would require that one of your first steps would be to meet with a mortgage lender.  This individual will help you determine the price range at which you should be looking, and at the end of the meeting, if all goes well, you should find yourself pre-qualified for a mortgage loan. 

What is one of the primary factors that go into a lender’s decision of whether or not to grant a loan?  Credit scores.  It has been estimated that nearly 75% of all mortgage loan decisions are made with the applicant’s credit score in mind.

The importance of credit scores in mortgage decisions and real estate transactions has risen over the past decades, and this is in large part due to what the lenders call risk-based mortgage pricing.  Essentially, the lender will make a decision on a mortgage based on how much risk is involved in the transaction.  If an individual has a credit score below 700 (which I’m sure none of you do), then that tells the lender that they are at higher risk of defaulting on their obligation to pay, and that will be reflected in the loan that they propose.  They may be offered a higher interest rate.

Now before you rush off to a free credit report website in a wave of panic, please keep in mind that a credit score is not a permanent and accurate representation of who you are as a person, and many mortgage lenders understand that.  It is important to find a lender who can see you as an individual with your own story.  That is not to say that you should ask them to completely disregard a credit score of 450 and give you a loan for that million dollar home, but there are some lenders out there who are willing to work with a low credit score, owing to the fact that you are not a number, but a person.  They will take into account things like your rental history.

That being said, it can’t hurt to try and raise your score before meeting with a lender, and there are many ways to do this.  Getting a credit card and keeping up with the payments is a quick and easy way to improve your credit and show lenders that you are serious.  In the end, that is all the lenders want.  They want to know that you are a responsible borrower and understand the value of a positive credit history, and a high credit score will give them a good first impression.