Engel & Völkers Foothills Grand Opening
On June 15, 2023, we celebrated our grand opening of our newest Engel & Völkers Foothills Longtown Shop and joining the EV family. Thank you to all of our staff, people in our local community, clients and attendees from Engel & Völkers Corporate and other shops who came to support us. A very special thank you to our owners, Steve and Polly Leadbetter for their work word and dedicated leadership.
The foundations of Engel & Völkers were laid by Dirk Engel in Hamburg, Germany in 1977. Three years later, he was joined by Christian Völkers to open the company's first brokerage. The two founders went on to develop a global luxury brand with a focus on exceptional real estate systems and service. In 2006 Engel & Völkers entered the US and began its Americas growth story.
Since 2006, Engel & Völkers has continued to grow and dominate the real estate market. The latest numbers show there are 16,000+ Engel & Völkers professionals and 1,087 shops all across 33 countries globally.
Our real estate advisors at Engel & Völkers Foothills strive to provide an experience of the highest caliber with the utmost competence, exclusive expertise and passion for all that they do. Across the street, across the country or across the world, our global network gives the reach and coverage, premium experience and resources and peace of mind you need when buying or selling a home.
We are excited to be apart of the Engel & Völkers family and look forward to helping clients buy and sell real estate in Burke, Caldwell, McDowell and the surrounding NC Foothills for many years to come. Stop in and visit us at either one of our locations! 7298 South Mountain Institute Road, Nebo, NC 28761 or 3053 NC 126, Morganton, NC, 28655.
Getting the Best Mortgage for your Home Purchase
For many people, homeownership is a dream that requires careful planning and financial preparation. One of the biggest considerations is the mortgage, the loan that is used to purchase a home. Getting a home mortgage can be a complex process, but it is an essential step in achieving the dream of owning a home.There are many different types of home mortgages available, each with its own set of advantages and disadvantages. The most common types of mortgages include fixed-rate mortgages, adjustable-rate mortgages, and government-backed loans. The type of mortgage that is best for you will depend on your specific financial situation and your preferences.
Fixed-rate mortgages are the most straightforward type of mortgage. With a fixed-rate mortgage, the interest rate remains the same for the duration of the loan, which is typically 15, 20, or 30 years. This type of mortgage offers stability and predictability, making it a popular choice for many homebuyers. However, fixed-rate mortgages typically have higher interest rates than adjustable-rate mortgages.Adjustable-rate mortgages, on the other hand, have interest rates that fluctuate based on market conditions. These mortgages typically start with lower interest rates than fixed-rate mortgages, but they can increase over time. Adjustable-rate mortgages are a good option for people who expect their income to increase over time or for those who plan to sell their home before the interest rate increases.
Government-backed loans are another option for homebuyers. These loans are insured by the government, which reduces the risk for lenders and allows borrowers to get a loan with a lower down payment and lower credit score. Some examples of government-backed loans include FHA loans, VA loans, and USDA loans. These loans are designed to help people who may not qualify for a traditional mortgage.
Once you have determined which type of mortgage is best for you, the next step is to find a lender. There are many different lenders to choose from, including banks, credit unions, and online lenders. It is important to shop around and compare rates and fees from multiple lenders to find the best deal. When applying for a mortgage, lenders will look at several factors to determine whether you are eligible for a loan. These factors include your credit score, income, debt-to-income ratio, employment history, and assets. It is important to be prepared to provide documentation of these factors, such as pay stubs, tax returns, and bank statements.
One of the most important factors that lenders consider is your credit score. Your credit score is a number that is based on your credit history and can range from 300 to 850. A higher credit score indicates that you are a lower risk borrower and can qualify for lower interest rates. If you have a low credit score, it may be worth taking some time to improve your credit before applying for a mortgage.
Another factor that lenders consider is your debt-to-income ratio. This is the percentage of your income that goes towards paying off debt, including credit cards, car loans, and other loans. Lenders typically prefer a debt-to-income ratio of 43% or less, although some lenders may be willing to work with borrowers who have a higher ratio.
When applying for a mortgage, it is important to be honest and transparent with your lender. If you have any concerns or questions about the loan process, it is important to ask your lender for clarification. Once you have been approved for a mortgage, make sure to carefully review the loan agreement and ask any questions before signing. Getting a home mortgage can be a complex and potentially stressful process, but it is an essential step in achieving the dream of homeownership. By understanding the different types of mortgages available, shopping around for the best rates and fees, and being prepared to provide documentation, you can increase your chances of getting approved for a mortgage.
Once you have gotten a home mortgage, it is important to maintain good financial habits. This includes making your payments on time, keeping your debt-to-income ratio low, and avoiding taking on additional debt. By staying on top of your finances, you can enjoy the many benefits of homeownership, including building equity and having a place to call your own.
In conclusion, getting a home mortgage requires careful consideration and preparation. By understanding the different types of mortgages available, finding the right lender, and being prepared to provide documentation, you can increase your chances of getting approved for a loan. Once you have gotten a mortgage, it is important to practice good financial habits to ensure that you can enjoy the many benefits of homeownership for years to come.
Written by Polly Leadbetter, License Partner & Managing Broker of Engel Völkers Foothills
Contact Engel & Völkers Foothills for your next real estate transaction. Serving Burke, Caldwell, McDowell and surrounding areas. We have two convenient locations in Morganton and Nebo.
3053 NC 126, Morganton, NC 28655
7298 South Mountain Institute Road, Nebo, NC 28761
828.584.9999
www.foothills.evrealestate.com
EV on Tour: Santa Margherita - Portofino, Italy
One of the many great things about being apart of the Engel & Völkers Family is the global connections! Almost everywhere you go, there is bound to be an Engel & Völkers Shop in close proximity. Our EV on Tour blog features agents & clients from Engel & Völkers Foothills that have travelled within the States and internationally to visit Engel & Völkers shops.
Earlier this month, one of our past clients was touring Italy. When they were walking down street in Santa Margherita Ligure and saw the Engel & Völkers sign, they immediately sent a picture to one of our license partners! We were super excited to know that once they saw the Engel & Völkers brand they though of us! They said the shop was in a great location and the the view of the water was incredible!
If you're traveling abroad or nationally and come across an Engel & Völkers shop, snap a picture and send it to us!
If you are looking to buy or sell, give our office a call today for your next real estate transaction! Our local advisors have the knowledge and expertise to help guide you through a smooth process.
Engel & Völkers Foothills
828.584.9999
www.foothills.evrealestate.com
EV on Tour - Turks & Caicos
One of the many great things about being apart of the Engel & Völkers Family is the global connections! Almost everywhere you go, there is bound to be an Engel & Völkers Shop in close proximity. Our EV on Tour blog features agents & clients from Engel & Völkers Foothills that have travelled within the States and internationally to visit Engel & Völkers shops.
Back in March, one of our real estate advisors, Dianne Reihl, took a trip to Turks & Caicos! Of course, she had to locate the Engel & Völkers Shop there and take a picture. Dianne thoroughly enjoyed Turks & Caicos and said she can't wait to visit again in the future!
If you are looking to buy or sell, give our office a call today for your next real estate transaction! Our local advisors have the knowledge and expertise to help guide you through a smooth process.
Engel & Völkers Foothills
828.584.9999
www.foothills.evrealestate.com
Real Estate Stats for Burke and McDowell Counties - April 2023
Check out the local real estate market update for Burke and McDowell counties for April 2023. Each report provides key metrics such as number of new listings, average closed sales price, days on the market and much more.
Burke County - April 2023 Report
McDowell County - April 2023 Report
Contact Engel & Völkers Foothills if you have questions regarding the market report. Our local advisors are available to assist with any questions or concerns and go over the report in full detail.
828.584.9999
www.foothills.evrealestate.com
*All data in the reports is supplied by Canopy MLS.