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REALTOR® Laura Sellers, Auburn, ALREALTOR® Laura Sellers, Auburn, AL

Everything you need to know about buying or selling a home or condo in the Auburn-Opelika, AL area!

LauraSellers01@Gmail.com
334-332-7263 Direct

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When is the right time to buy a house in Auburn-Opelika?

Sometimes real estate decision aren’t based on location but timing.

When should you buy a Auburn-Opelika, AL home?

The best time to buy a home in Auburn is when prices and interest rates are low. When prices are low and there are fewer buyers than sellers, the market is considered a buyer’s market.  Buyers can get homes for lower prices and can often demand more concessions from homeowners eager to sell.

Trying to time the real estate market is difficult, even for professional real estate investors. If you’re hoping to try and buy when prices have fallen, here are some key factors to consider:

*Consider the pricing trends in the area your are buying a home.

*Look at the months of supply in the area – In a balanced real estate market, there’s generally around a six-month supply of housing. If the supply is lower, bidding wars are more likely to occur.

*The time it takes the home to sell – If houses sit on the market for a long time, it’s likely a buyer’s market. But if homes are selling very quickly, it’s a seller’s market — and you can expect to pay more for a home.

*New construction – When new construction lags, this keeps housing in short supply and puts upward pressure on prices.

* New housing prices compared to income and employment – The housing market is overvalued in your area if prices are high in relation to the income of local residents. This isn’t a sustainable situation, so prices are likely to fall.

Choosing the right time of the year.

Home prices not only vary over time, but they can also vary over the course of the year.

Supply and demand are big reasons why house prices change with the seasons. Summer has proved to be the most popular time to move and is a popular time for sellers to put their home on the market. While you’ll likely see more inventory in the summer, it’s the worst time to buy if your goal is to get the best deal because prices rise when demand increases.

Make sure your personal life is in order

Most real estate experts suggest you keep your housing costs to 30% or less of your income. You also will want to show lenders you have a steady source of income for at least 2 years.

Your credit score will also make a big difference in the interest rate you obtain.

You will also need to consider how much of a down payment you have to purchase a home. If you have not saved at least 20% of the purchase price of your home you will need to obtain private mortgage insurance (PMI). PMI protects your lender in case of foreclosure — the insurance pays the lender if your home is foreclosed on and sells for less than you owe.

Not only is paying PMI a waste of money but buying a home with a low down payment or no down payment can be a big mistake for another reason: It leaves you very vulnerable to fluctuations in the real estate market.

Waiting to buy a home until you can put at least 20% down gives you a financial cushion so if you need to move but your house isn’t worth what you paid for it, you won’t be in dire financial straits.

Your savings for closing costs

When you buy a home, you’ll need money in the bank for closing costs. Home buyers typically pay around 2% to 5% of the value of the property in closing costs. Closing costs cover expenditures for home appraisals, land surveys, loan applications and origination fees, property taxes, transfer taxes, recording the deed, a home inspection, title insurance, homeowner’s insurance, and more.

Do you have an emergency fund?

First, it can protect you from being foreclosed on. Foreclosure can happen if you’re unable to afford to make payments on your home. Having an emergency fund valued at three to six months of living expenses — including your mortgage — ensures you can keep making mortgage payments for a long time in the event of a job loss or other financial calamity.

You also want to ensure you can afford the costs of home repairs. As a homeowner, you can’t just call your landlord if the roof leaks or the water heater breaks. You could regularly incur expenses of several thousand dollars or more once you own a home. And the older your home is, the more likely it is you’ll incur big costs.

Make sure you have savings for the move and getting your home set up

You may need to pay professionals to move your possessions or may need to rent a moving truck and purchase moving boxes. When you’ve moved into your new home, there may also be furniture and other incidentals to buy.

Consider your other debts

Mortgage lenders look at your debt-to-income ratio when deciding if you can qualify for a loan and what your interest rate will be. Your debt-to-income ratio equals total monthly payments on your debt — including mortgage costs — divided by your gross monthly income. Most mortgage lenders will not give you a loan if your debt-to-income ratio exceeds 43%. If your debt-to-income ratio is too high for you to qualify for a mortgage, you’ll have no choice but to wait to buy a home. You can work on paying extra money toward your debt to bring your ratio down, or consider purchasing a cheaper home so your housing costs are lower and you fall within the 43% ratio.

Consider your short term and long term goals

If your finances are in order and market conditions are good, it still may not be the best time to buy a house. You also need to consider what your future plans are.

In order for your home to hopefully appreciate enough in value to cover the cost of a sale, most financial experts recommend buying a home only if you plan to stay for at least two to five years. Of course, there are never any guarantees about what the housing market will do, but the longer you stay put, the more likely it is you’ll break even on the home purchase even after paying costs associated with a move.

You also don’t know how long it will take to find a buyer, so if you suspect you may need to move quickly, tying yourself down with a home is a bad bet.

So is now the best time to buy a home?

As you can see, there’s no one right answer to the question of when is the best time to buy a home. By considering your personal financial situation, your plans for the future, and the state of the real estate market, you can make a fully informed choice about whether now is the right time for you to buy.

Berkshire Hathaway HomeServices Preferred Real Estate, Houses for sale opelika, Homes for Sale Auburn, Best Auburn Realtors, Best Opelika Realtors

www.AuburnOpelikaALRealEstate.com

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Client Reviews

High attention to detail

"Laura Sellers is a relationship driven professional that has a high attention to detail and works diligently to ensure a positive outcome for her clients. Laura is a woman of high integrity.”

Tom R.

Phenomenal job

"Laura Sellers did a phenomenal job of listening to our objectives and helping us clarify what we were really seeking in our new home. I do not hesitate to call her whenever I need help with all of our real estate needs. I also make sure I recommend her to all my friends."

Chris H.

Finding this post ha

Finding this post has answered my prayers

Justus zI3DPT7phr q5k50XzsCP

Laura is the best Realtor in Auburn!

I've worked with many real estate agents in the past, but never one as professional, organized, and patient as Laura Sellers.. During the two days I spent searching for the perfect home in Auburn with Laura, she not only took the time to schedule a wide range of listings across Auburn, but she also took

Sam CEO Northcutt Enterprises Auburn, AL

Best Auburn Realtor!

Laura is exceptionally accommodating and very responsive. We were first-time home buyers, and she was very patient and helpful with all our questions! Highly recommend. Will definitely be referring her to friends and family.

Sarah EAMC Auburn, AL

Realtor review – Auburn, AL

Laura is professional and knowledgeable in assisting both buyers and sellers. She was well versed in the local market and was in tune with my families vision for our new home. She sold our last house in a few weeks. I wouldn't hesitate to use her again.

Sarah Jennings

Home Buyer in Auburn AL

Laura made buying a home an incredibly enjoyable and smooth process. My husband and I are first-time home buyers so there was a lot of education taking place during the past few months. We found that Laura was always on the ball and one-step ahead to make sure their weren't any surprises. Not only that,

Ginger Sweeney Auburn, AL

Home Buyer in Auburn AL

Laura helped me through every step of the way when buying a home in Auburn, AL. She was always easily reachable and prompt in responses and saved me at least 15 grand on the sale. She was recommended to me by a friend who had a wonderful experience with her as well! Highly recommended.

Stephan O Auburn, AL

Seller

From the beginning Laura was hardworking, honest, and extremely knowledgeable about real estate. She made the process of selling my home easy. I received the price I wanted and I could not be happier. I would use her services again in a heartbeat and I strongly recommend her if you want to sell your home!

Melissa G

Home Seller in Auburn, AL

Selling my house could not have been easier. I live out of state and closed while across the country. The house needed repairs. Even considering all those potential problems, she went out of her way to make sure everything went smoothly. Laura was always easy to get a hold of and she has great contacts

Bryan S

Retired Buyer

Laura Sellers was a huge help in my search for a new home. She was always available for showings when it was convenient for me and very quick to respond. Being able to see homes as soon as they hit the market was crucial for my price range. She was very honest and did not

Kate S Auburn, AL

Home Seller

Laura Sellers did a truly remarkable job for us, selling our house in Auburn. We were having a very difficult time finding a buyer for our house before we met Laura. The house sat on the market for nearly a year when we decided it was time to list it with Berkshire Hathaway HomeServices. We

Harry T Auburn, AL

Purchased House for Sale Auburn AL

Laura Sellers was a huge help in my search for a new home. She was always available for showings when it was convenient for me and very quick to respond. Being able to see homes as soon as they hit the market was crucial for my price range. She was very honest and did not

Beth C House for Sale in Auburn Al

Best Auburn AL Realtor

I have done business with Laura for many years.She is by far the best of the best. She is not only loyal and trustworthy ..she gets the job done . She is attentive , caring and honest. I refer all my friends to her . She has been our Realtor for years and I would

Kathleen D Auburn AL

Buying a house in Auburn AL

It was a pleasure to work with Laura. She is acceptionally professional, and has a great knowledge of the area and the market. We felt comfortable to come to her for any advice and concern, and she always come through with good recommendations and problem solutions. If we ever decide to sell our house or

Andy W Auburn AL

Best Auburn Realtor

I have to say that Laura Sellers exceeded our expectations in every way. Laura is the smartest realtor that I have ever met. She takes care of business rather quickly and efficiently. She is very thoughtful and thinks of everything. From day 1 she did everything she said she would do.  She is a person

Natalie G

Best Auburn Realtor

Words cannot express how thankful I am for Laura. Selling my first home was hard enough and she went above and beyond to ensure (1) I was well informed before moving forward with my sale, (2) made sure I was updated in a timely manner throughout the entire process, and (3) took the time to

Craig C Auburn AL

Best Realtor in Auburn AL

Laura was awesome to work. We were new to the area and was knowledgeable about the town and various neighborhoods. We highly recommend her! We told her what we were looking for and she lined up properties for us to see. Often spending an entire day with us. She understands very well what to look 

Sally S

Laura is the best Realtor in Auburn

This was my second time working with Laura as a home buyer. She is great to work with and is very accessible to her clients. She kept me informed throughout the escrow process and I had a smooth and stress-free closing experience. I would work with Laura again and recommend her services to anyone considering

Best Realtor Auburn AL

This is the second real estate transaction we have done with Laura. She made the buying process easy and painless for us. This was especially important since we weren't physically present for the transaction. Laura went above and beyond, making sure we received and understood all the documents,  accommodating the needs of the seller who

Katie G Auburn AL

Best Auburn Realtor Berkshire Hathaway HomeServices

We stumbled on to Laura through blind luck and and sticking with her was easily the best decision we made throughout the whole process (even including the whole choosing our house decision!) Finding a place can be a long, daunting process, and if you should be so  lucky to find a place that works, getting

Frans K Auburn AL

The Legacy at Cary Creek – Best Auburn Realtor

I think if it wasn’t for Laura, I would never have found my new home and it is beyond perfect. Laura knows all of the right people - including lenders, attorneys, etc. to get the job done as smoothly as possible. As a retiree, I had not purchased a home in a long time and

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Millie O Auburn, AL

Auburn Real Estate Review

Laura Sellers was phenomenal to work with. Not only did we get eight offers in just 24 hours, we got an all cash offer above our asking price. Laura was very responsive and she worked tirelessly to ensure the deal got done and very quickly. I highly recommend her as I do her firm.

Rob C

Best Auburn Realtor

Laura just helped us purchase a home in Auburn, AL. Without her help I don’t think we would have gotten this home. And without her, we would not have been able to cope with the emotional roller coaster that goes with being a buyer in a highly competitive market. Throughout the process Laura was a

Robert S auburnopelikaalrealestate.com Auburn, AL

Auburn Condo

Laura was professional from the start of what can be a very stressful process. She was always available and quick to respond to any requests or concerns I had. My property sold in less than 1 day for over my asking price.

Phillip A Auburn AL

Very helpful and accommodating

Everyone at Berkshire Hathaway HomeServices has been very helpful and accommodating while selling my Auburn, AL home. It made selling very easy for our busy family. Also Laura is amazing.

Sally Auburn AL

Buying a home in Auburn AL

Buying a home is an extremely stressful thing. I needed someone that was going to answer my questions and have my back. I have the highest praise for Laura. She is very knowledgeable, in all the categories above. Her and her team work very hard to make sure their clients are happy. She also is

Hannah S Auburn AL

SOLD my Auburn, AL home in less than 2 weeks with Laura at Berkshire Hathaway HomeServices

SOLD my Auburn, AL home in less than 2 weeks with Laura at Berkshire Hathaway HomeServices

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Buying a home in Auburn, AL – Berkshire Hathaway HomeServices

Buying a house in Auburn, AL - Berkshire Hathaway HomeServices

Lee Kim Auburn AL

Best Auburn Realtors

We are so fortunate to have the opportunity to work with Laura! We were moving in from out of state and had a very limited timeframe to house-hunt and a really wide range of areas we could live in! She immediately understood what we were looking for and every set of homes she added to

Sally F Auburn AL

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REALTOR® Laura Sellers, Auburn, AL

334-332-7263 Direct
LauraSellers01@Gmail.com
1810 E Glenn Ave., Ste 130
Auburn, AL 36830


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