NH Real Estate with Victoria Mead

  What Is Equity In Real Estate? It sounds simple when someone is talking about it but what does equity actually mean? Equity is basically a fancy word for profit. When someone is talking about how much equity they have in their home they are saying that their home is worth more than what they owe on their mortgage. If you were to sell your home for $450,000 and all you have left to pay off on your mortgage is $200,000 then that means you have $250,000 in equity on your property. Equity is definitely a nice thing to have! 

  I first want to start off by saying that not all real estate agents are created equal. There are plenty of people that think selling houses will be so fun because they love seeing homes or love watching HGTV so they decide to get their license. Seeing homes is only a quarter of the job. The real truth is selling real estate is hard. It's an 80/20 career with only 20 staying in for the long haul.  That is the professional I am talking on in this blog when I recommend you hire one. Someone that is actually good. Not someone that pretends to be! They know houses. Just like any professional you hire whether it be a plumber, contractor, attorney etc.. a good real estate agent knows, loves and has a passion for houses. They will be able to explain different heating systems and point out items at showings you may not notice or think anything of. Or if they're helping sell a home they'd know the specific features that are valued differently, just one example. They know the market...

   What do the different real estate listing statuses mean? When searching for homes online, you may have noticed different labels on each listing also known as the status. Here is a look at what the different statuses are that an agent can label a listing in the MLS (Multiple Listing Service) as well as what some of the online search sites call them. Active/Available-  This is the first listing status you'd see when a home first hits the market. Just as it sounds, the property/listing is active or what some sites call, available. This means the seller has not yet accepted an offer. Call your real estate agent quick to set up a showing! Active Under Contract/Contingent- This status is one you see happening second, the property is under contract. This means the seller has accepted an offer but they will allow for back up showings. Another note with active under contract is that this status allows for the home searching sites to continue to market the property. You may se...