3 Rules You Should Remember When Shopping For A Mortgage

Mortgage Shopping in Coastal VirginiaIf you’re in the market for a new home, you’re probably in the market for a new mortgage. Here are 3 critical shopping tips for anyone looking for a new loan.Know the TermsAll the terms of a loan matter. Unfortunately, shopping for a mortgage is not as simple as finding out how much a lender will let you borrow and at what interest rate. You’ll want to get a complete breakdown of what any offer your receive means to you on a monthly basis as well as how much money you’ll be spending over the life of the loan.Not all Mortgages are the sameThere are several mortgage types available to residential home buyers. Most people will shop for a traditional fixed rate mortgage, but other options are available including adjustable rate loans (ARMs), Federal Housing Administration loans (FHAs), and Veteran’s Administration loans. You’ll want to be sure to understand what kind of loan a lender is offering you.Fees, Fees, FeesMost loans have fees associated with them in additional to the principal amount borrowed to buy the home. You can sometimes borrow the money need to cover these fees, but that will obviously increase the overall amount of debt you undertake. Some fees are paid up front, and others are not due until closing.If you’d like to chat with personally about how to shop for a mortgage and what other questions you can ask lenders to find the best deal, call us! We’ll get you started on the right path so we can start looking for your new home!EXIT REALTY CENTRAL(757)466-1009

Spotlight On The Willoughby Neighborhood

Norfolk, Virginia Willoughby By The Water Willoughby is a extremely cool neighborhood! It’s West of Ocean View, South of the Chesapeake Bay,  East of the Hampton Roads Bay Bridge Tunnel and more Chesapeake Bay, and North of Willoughby Bay and Naval Station Norfolk. Those are some basics. Willoughby is a very striking land feature because it’s a spit! It is a mass of land that juts out over the water and is surrounded on three sides by Chesapeake Bay. Beaches surround this area. If you want your own beach, this is one of the ways you can get it in Coastal Virginia.  Shifting sans are continually adding land to the spit in a westward direction. Norfolk created breakwaters and sand replenishment to prevent erosion of the North side beaches. Interstate access is as simple as driving out of the neighborhood. Interstate 64 runs right through Willoughby. The main attraction of Willoughby is obviously the beaches and the water. While you definitely have plenty of that to enjoy, you have several public parks you can enjoy! There’s Captains Quarters Nature Center and Park, Sarah Constant Beach Park, the interestingly named Monkey Bottom Park, Community Beach Park and Ocean View Golf Course! Willoughby Inn Seafood Restaurant is near the tip of the spit and has been there for many years. Most of the locals like it. South of the Interstate is Sunset Grill. This one is highly rated and specializes in seafood. The Ocean View Fishing Pier has it’s own restaurant, and as you can imagine, fishing. Greenies is a legendary Willoughby favorite. And the Thirsty Camel has been around for a long time. There are not too many businesses to ruin the quiet Willoughby feeling. But no neighborhood is complete without 2 7-Elevens. A lot of your shopping will be done further south in Ocean View. If you have a boat, you’re in luck! there are a bunch of boat slips to the south protected from the bay weather. If you need information for the boat slips, contact me and I will put you in touch with the management. Ocean View Avenue, Norfolk Ocean View Beach Park is great every day and often they have festivals there with bands and entertainment. The backdrop is for events here is the beautiful Atlantic Ocean! Schools for Willoughby are ocean View Elementary, Northside Middle School and Granby High School! Just a heads up for you. Don’t call the area Ocean View in front of any of the home-owners here. They will be offended. Willoughby By The Water Here are the stats for the neighborhood at the time of this article. The median home for sale in the Willoughby area is $236,800. Like a lot of Norfolk, the prices are varied. The bottom end comes in at $49,000 and the high end is $1,599.000. Average days to sell the home were 77, so not bad at all. the oldest house for sale was built in 1910 and the newest was this year! Again, a varied supply of houses here. We can get you some more relevant data if you like. Just please let us know! I would love to show you more about this neighborhood! I can get you in to see any of the homes for sale here. I can call the listing agent and schedule a showing for you. And I can help you negotiate your pricing and terms! If you would like more information, please fill out the form on the right and let’s get started! See the Willoughby houses for sale! Or call 757-466-1009 to talk with a REALTOR®!

Get Smart At Home!

This is already one of the fastest growing trends in home design, but smart home technology will soon move from a ‘plus’ to a ‘must’. No longer seen as a passing fad, smart technology not only provides convenience, but also helps to improve health and safety within your home. Here are a few simple, smart upgrades you can make now that will appeal to buyers for years to come:Touchless Everything. Temperature and lighting control can now be voice or motion-activated. Touchless faucets, once thought superfluous, are now an inexpensive and health-conscious upgrade.Carbon Monoxide / Smoke Detectors. Smart carbon monoxide and smoke detectors employ innovative features such as self-testing, direct communication with emergency dispatchers, and advanced sensors that can detect both slow-burning and fast-burning fires.Thermostat. Many smart thermostats can be paired with mobile devices so that the climate in your home adjusts depending on whether you’re home or away, saving you dollars you didn’t know you were spending.Receive a custom evaluation for your home, including comparisons to other homes that have recently sold or are on the market. This guarantees you receive the most accurate information available. To find out what your home is worth, click HERE!Video Doorbells / Cameras. Once costly and cumbersome, security cameras and video doorbells are more affordable than ever and, with wireless technology, have never been easier to install. With the help of your mobile device you can check in on who is coming and going from your house from anywhere.Keyless Entry. New keyless entry devices allow homeowners to unlock their doors or open a garage remotely from their cell phones.If you’re thinking about making some smart upgrades to your home, reach out to us! We can help you determine which upgrades provide the best ROI.See the houses for sale! Or call 757-466-1009 to speak with a REALTOR®