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How Much Is My Home Worth?

If you are considering selling your property, it is natural for you to want to know its current market value.

The best way to find out is to have NuVision Real Estate LLC conduct a thorough and extensive Comparative Market Analysis (CMA). We provide a free CMA service for every client who lists their property with us - learn more here.

A Comparative Market Analysis (CMA) is how we definitively evaluate the monetary value of your home, or other type property, within its unique geographic market area. Our CMA assesses properties that are currently on the market as well as those comparables that have recently sold. We also factor in current local, regional and national economic trends along with the state of the property's current physical condition (and that of the surrounding neighborhood).

The ultimate purpose of the CMA is to determine what the maximum possible sales price your property will yield ... while still insuring it is price competitive and realistically positioned on the open market.

Remember, if the price we list is too high, your property will simply squat on the market producing little or no interest, and thus few, if any, offers. At the same time, if the price is too low, you will likely receive immediate offers, but unnecessarily lose money as a result.

FYI: Professional appraisals and reliance on programs like Zillow and eppraisal (see below) are not particularly precise, sometimes unreliable and often do not reflect current market conditions and competing properties that are currently on the market. That is why a CMA is so important and valuable.

While we absolutely cannot guarantee the true accuracy and precision of the results, you may wish to immediately get a snapshot of your property's value using this on-line calculator Eppraisal below: 

Let Us Help You Figure It Out

If you are interested in receiving a FREE Comparative Market Analysis (CMA) and possibly listing your property with us for sale, please let us know using this simple, on-click form. Contact Us

Are You A First Time Home Buyer?

If you have never purchased real estate before ... congratulations!
You are about to embark upon one of the traditional rites of passage in American Life ...

Purchasing your first property is NOT as intimidating, or scary, as many people make it out to be. Like any first time endeavor, the more you can educate yourself upfront on the topic while simultaneously accumulating solid, accurate information from people directly involved in the real estate markets, the better equipped and more at ease you will become with the process. 
  
We cannot possibly cover all the potential educational and academic fundamentals for first time home buying on this website. What we can and will do is get you pointed in the most coherent, factual and helpful directions possible (see below).
  After you have educated yourself adequately, sense you are prepared to take the next step and feel led to entrust your first real estate transaction with a professional Realtor, we hope you will remember this website, and give us a call at 256-735-4774. We will be massively happy to expertly guide you through every step of the real estate buying process ... all the way to successfully owning your first home! 
If you prefer on-line contact, you can also contact us via text at the above number, e-mail us at properties@nuvisionrealestate.com, or message us on Facebook

TIP #1: 

S - L - O - W - D - O - W - N     R - E - L - A - X
Every first time home buyer we've met is understandably excited, ready-to-roll and motivated to get on with buying their first house - pronto.
Ambition, enthusiasm and velocity are all good things. They can really make a real estate transaction move along. These things can also end you up in a sh*h*le money pit that you'll regret owning.
In real estate, speed doesn't kill ... it just makes you miss obvious stuff (only obvious in slow motion replay after the fact, of course). Proceeding too rapidly, or with only partially revealed facts, can get you into deep financial trouble and often into a superficially appealing property that upon closer review (or after living in it for a few weeks) is actually total crap. 

We use some of the above wording not to be crude, but to get your full attention.

The best advice we can give you is S - L - O - W - D - O - W - N, R - E - L - A - X. Backing off the gas a little, educating yourself thoroughly about basic real estate, absorbing valuable insights from experienced real estate owning people and partnering with a REALTOR that knows their stuff will keep you out of trouble.

TIP #1: 

SORT OUT YOUR BASIC WANTS AND NEEDS
Next, we recommend that you give ample thought to exactly what you need and want in a property. That may sound easy ... but there is quite a bit to think about.

Like with any journey, if you do not have a final destination in mind, you may travel aimlessly. Here is a straightforward 'Home Buyers Wish List' designed by the U.S. Department of Housing and Urban Development (HUD) - you can download it and get started here.

TIP #3: 

GET YOUR MONEY TOGETHER
Next up is figuring out about the money part of the process: budgets, expenses, credit ratings, down payments, escrow, mortgages, points, insurance, taxes, PMI, closing costs, etc...

An in-depth education on the monetary and financial aspects of a real restate transaction is beyond the scope of this website. With that said, we can definitely get you started in the correct direction.

First, here is a really nice, thorough publication called 'Looking For The Best Mortgage' designed by the U.S. Department of Housing and Urban Development (HUD) - you can download it and begin educating yourself here. 

Second, consider this article called 'Pros and Cons of First-Time Homebuyer Mortgages' by Angela Colley. 

Finally, you may want to study and internalize this short, but 100% right-on cheat sheet: The Top 20 Tips For First Time Home Buyers.


TIP #4: 

START SHOPPING FOR A PROPERTY
While you are studying, learning and maturing in your real estate acumen, there is no better way to test out your burgeoning skill set that to try it all out in the real world.

Thus, it's time to start looking at real world properties and assessing their merits through the lens of your increasing understanding.

How Much House Can I Afford?

For the majority of people, purchasing real estate is the largest single purchase they will ever make in their life. Traditionally, most of the property's cost will financed through a mortgage. A mortgage usually requires years, if not decades, to repay.

While we think everyone should have the opportunity to own their own property, we are also realistic and conservative in advising our home buyers on how much to spend. Spending too much on real estate can leave you financially vulnerable AND take potentially take away income from other important things in life like day-to-day expenses, entertainment, vacations, college funds, retirement, etc.

These days most lenders recommend that you spend no more than about 28% of your gross monthly income on a mortgage. For example, if you gross $3,200 per month in income, most lenders will allow you to have a mortgage payment up to $895 or so. At NuVision Real Estate LLC, we generally agree with that percentage for home buyers with documentably stable employment, income and lifestyles.

If you are first time home buyer, have uncertain employment prospects, or have significant past debt and/or high priority lifestyle expenditures, it is wise to not OVER mortgage yourself. In these cases, something in the 18% to 22% range of gross monthly income is probably a safer, more easily managed percentage.

In any case, below is a very handy on-line calculator you can utilize to run as many financial scenarios as you'd like with the goal being to determine "How Much House Can I Afford?": 

HOME VALUE:
This is the final sales price of the property you are interested in.

ESTIMATED FRONT RATIO:
This represents the portion of a person's income to be used to pay mortgage payments. It is calculated using a person's monthly housing expenses divided by their monthly gross income. This number is shown as a percentage.

Lenders use this ratio in conjunction with the back-end ratio (see below) to approve mortgages and they do not like to see it exceed 30%.

ESTIMATED BACK RATIO:
Also known as 'Debt-to-Income Ratio' ... this represents the portion of a person's monthly gross income that goes toward paying debts.
Total monthly debt includes expenses such as mortgage payments (including taxes, insurance, etc.), credit card payments, child support and other loan payments.

Lenders use this ratio in conjunction with the front-end ratio to approve mortgages and they do not like to see it exceed 36%. 

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Overall Affordability Calculator

The following calculator is also very instructive and eye-opening. It is a little more detailed than the one above allowing you to factor in even more of your financial picture so you can get a tangible understanding of your total finances as they relate to home value and mortgage costs:

Figuring Out Your Finances ...

Purchasing real estate may be the single largest purchase you will ever make in your life. If you are like most people, you will be financing the majority of the property's cost using a mortgage.
While we think everyone should have the opportunity to own their own property, we are also realistic and conservative in advising our home buyers on how much to spend. Spending too much on real estate can leave you financially vulnerable AND potentially take away income from other important things in life like day-to-day expenses, entertainment, vacations, college funds, retirement, etc.

Below we have an extremely powerful, yet easy-to-use calculation tool that will allow you to "Figure Out Your Finances". You will be able to play out in real-time many different monetary scenarios that influence your finances generally as well as specifically for your best advantage when it comes to purchasing real estate. 
Some of the scenarios you can start to evaluate immediately are:

How Much Income Do I Need To Qualify To Buy This House?

Should I Rent or Should I Buy?

Affordability Calculator

Tax Benefit Calculator 

Important notes:


What Is the REAL Annual Percentage Rate On My Loan?

What If I Pay More On My Mortgage Each Month?

Monthly Mortgage Payments Versus Bi-Weekly Payments

My Actual Payment Per Thousand Financed

Should I Pay Points At Closing To Reduce My Interest Rate?

Which Mortgage Loan Is Better? 

How Long Will It Take to Pay-off My Credit Cards With Minimum Payments?

How Can I Pay Off My Credit Card as Sooner? 




Downloable Real Estate Documents

If you have been a part of a real estate transaction before, you are well aware of the amazing amount of documents and clerical activity involved.

It is no exaggeration that there is "a piece of paper for everything".

Most of the paperwork appears at the final closing. Nonetheless, some of the documents may be valuable to you well before closing. Chances are good that if you have arrived on this web page, you were directed here by one of our NuVision agents.

NuVision Real Estate
Address

NuVision Real Estate

Our Office Address:
NuVision Real Estate LLC
3259 Alabama Highway 157
Suite G
Cullman, AL 35058
USA 
Our Mailing Address
NuVision Real Estate LLC
Post Office Box 873
Cullman, AL 35056
USA 

Contacts

Phone: 256-735-4774

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