As of June 25, 2018, we’ve made some changes to the way our mortgage approvals work. You can read more about our Power Buyer ProcessTM.
Buying or selling a home is exciting, but it takes a lot of work. As technology improves, new tools are debuting each year to make once monotonous tasks faster and easier. Take a look at ways that individuals are getting creative with technology in order to buy and sell homes.
Home buyers and sellers are increasingly using their computers to search for homes, sell their homes, and maneuver through the home buying and selling processes.
While many real estate agencies have photos, prices and basic information on their websites, buyers and sellers are often looking for more. For example, buyers want to know about the neighborhood and what the house could look like once they make any improvements. Thankfully, there are dozens of websites made for just that, such as these:
Real Estate by Trulia
Trulia shows users homes, apartments and open houses in a given neighborhood based on price, lot size, number of bedrooms, neighborhood and several other filters. Instant alerts keep you up to date when homes you might like come on the market and when homes you’ve looked at have status updates.
The most impressive feature is the app’s ability to show what’s going on in the neighborhood around the home. Browse ratings of local schools, restaurants and grocery stores, and view crime maps of the neighborhood. There are a lot of factors to consider when buying a home; you want to familiarize yourself with the all of them so that you can determine which home is right for you.
Specifically designed for home improvement and interior design ideas, Zillow Digs allows users to estimate the costs associated with various renovations, helping buyers to understand the true cost of the homes they’re looking at.
Browse through hundreds of different kitchen, bathroom and bedroom design ideas for inspiration on potential renovations. Virtually “paint” each room in the house and find the products required for each design. Ideas can be saved all in one place. Costs are filtered by mid-range, budget and luxury price ranges, and a budget can be created on the site.
This is a great tool if you’re considering purchasing a fixer-upper. Purchase price is important for home buyers, but having an app that can help you estimate the total cost of renovation expenses can help you understand what your total expenses would be.
Conversely, sellers can use the app to determine if renovating prior to selling is in their best interests. A few small and inexpensive fixes might allow you to increase the selling price.
New apps are coming out all the time to showcase homes on the market, but did you know that some allow you to calculate what you can afford to pay when buying a house or even get approved for a mortgage? What about checking statistics around the neighborhood you’re looking at? There’s an app for all stages of home buying and selling, making the process doable anywhere.
Before you fall in love with your dream home, you’ll want to know how much you can afford to spend. The Mortgage Calculator by Quicken Loans includes five calculators, helping you to determine mortgage payments, refinance payments, interest rates, loan amounts and mortgage term length.
The interest rate, length of term, property taxes and homeowners insurance are all included in the monthly payment estimate. It’s perfect for the early stages of home buying, as it allows you to quickly calculate what your mortgage payment would be for any specific home.
Dictionary of Real Estate Terms
The Real Estate Dictionary by Farlex, Inc., offers definitions of thousands of mortgage, financial and legal terms from industry-leading sources. Not sure what an appraisal contingency is? Just search, click and learn.
Perfect for users on the go, the app allows you to look up in-depth explanations and view over 9,000 images, such as property diagrams and illustrations, while you’re speaking with your real estate agent or mortgage lender. Users can also save definitions for easy access later.
Created by the U.S Census Bureau, dwellr allows users to determine the top 25 cities in the U.S. that best suit their lifestyle. Asking questions about whether you prefer biking or driving to work and whether you prefer big cities or rural areas, the app helps home buyers determine what factors are most important to them when purchasing a home.
dwellr provides demographic and housing statistics from the American Community Survey, including home values, local schools and even the approximate number of college graduates in the area, and it even includes data on topics such as how local residents commute to work. This allows buyers to get an in-depth idea of what it would be like to live in a particular area.
Rocket MortgageSM by Quicken Loans makes the mortgage process faster and easier by giving you the ability to import your income and assets at the push of a button. Within minutes, you can see a mortgage solution that’s created using current mortgage rates and based on your needs and financial goals.
Rocket Mortgage is a digital and secure way to get approved to buy a home or refinance. With everything else going digital, it makes sense that mortgage approval would go digital, too.
Technology isn’t just useful for buyers – it can help sellers, too. There are a number of ways that you can harness technology to advertise your property.
Home buyers are expecting better quality photos as technology progresses. In fact, houses with professional photos sell faster than those without. Buyers want high-quality views of both indoor spaces and the outdoors. Hiring a professional is the best idea, but in a pinch, you can do it yourself with a good smartphone or camera.
Increasingly used by sellers, drone photography is a great way to show off your home and surrounding areas, too. If you have large amounts of property or features difficult to catch with regular photos, drones offer great aerial views. In real estate, location is key, so if you live in a great location, you want home buyers to see that.
Using video to showcase your home gives home buyers the opportunity to imagine themselves living in the home. A regular video tour is great, but these days, some real estate companies are providing 3-D tours of homes for their clients. Think of it as Google Earth for the inside of your home; clients can “walk through” each room before they tour it in person.
Facebook, Instagram, Pinterest and Twitter all provide information to the masses, so why not look to social media to list your property? Increasingly, real estate agents are posting ads on all of these platforms to advertise properties for sale. It’s a relatively inexpensive way to get home buyers interested in your home. Creating a group or page can also entice buyers into looking at your property. Social media is used every day by millions of people, so the chances of your home getting views are high.
Technology is continually improving, providing creative ways for individuals to purchase, sell and search for homes. Although it likely shouldn’t take the place of a professional real estate agent, technology can make the process easier and simpler for all involved. Do you have any tech tips for home buyers and sellers? Post them in the comments!
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