Call Me Now! 954 812 2832​
Toggle

What To Repair Before You List

When you’re getting ready to list your home, it’s of the upmost importance to ensure you are showing it in the best light. Taking time to highlight its strengths and fix up some of its possible weaknesses can make a big difference in how fast it sells. Here are our top five recommended repairs to make before selling your home.

Repaint walls.

Giving your home a fresh coat of paint is one of the most cost-effective ways to spruce it up, and generally, it can be a do-it-yourself project. Make sure cover any walls with scratches and chips and consider updating any accent walls with a more neutral coat.

Repair floors.

Hardwood floors are a very desirable feature in a home, so you want to ensure they look their best by fixing scratches or dull areas. If your carpet is worn or stained, consider replacing them. And don’t forget the tile in your kitchen or bathrooms. Re-grouting can go a long way in making dingy tile work look brand new!

Refresh the landscaping.

Show buyers your home is the full package by dressing up the outside as well as the in. Clean walkways and driveways, plant seasonal flowers and plants, trim hedges and trees, install outdoor décor pieces and fill in mulch and gravel.

Fix your fixtures.

Leaky faucet? Rusted drains? Loose drawer handle? Making these small fixes can make a big difference to potential buyers with detailed-orientated minds. Improve your kitchen. An outdated kitchen can be a real eyesore in a home. Updating cabinetry, repairing or replacing countertops, and installing new faucets and sinks may be worth the investment

Curb Appeal, DIY, Education, Important, Moving, Real Estate, remodeling, Selling, Tips, , , , , ,

The Home Buying Process: 7 Steps to Success

Home buyers tend to have a lot of questions about the house hunting and buying process. This is particularly true for first-time buyers who have never navigated their way through it before. This article lays it all out for you, from start to finish. Here are seven steps you should take when buying a home.

1. Review your credit situation.

Credit scores are an important qualifying factor for home buyers who need mortgage financing. The FICO score, in particular, is the one most commonly used by mortgage lenders. According to industry experts, home buyers generally need a credit score of 600 or higher to qualify for a loan. But that number is not set in stone, and some loan programs are more flexible than others.

You can order your credit reports from Experian, Equifax and TransUnion, and then review them for errors. You can also order your credit scores (different from your reports) to see how you stack up against the national average. A higher score could help you qualify for a better mortgage rate.

2. Determine your monthly housing budget.

A mortgage lender cannot tell you how much of a monthly payment you can comfortably afford. They can only tell you the amount you qualify for. You should determine your home-buying budget for yourself, before shopping for a loan. The idea is to get a basic budget on paper, including the most you are comfortable spending each month toward your housing costs. This will come in handy later on.

3. Get pre-approved for a mortgage loan. 

If you’re planning to pay cash for a home, you can obviously skip this step. But if you’re like most home buyers, and you need mortgage financing to complete your purchase, you can benefit from getting pre-approved.

Pre-approval is when a mortgage lender reviews your financial and credit history to determine your “creditworthiness.” When you get pre-approved for a specific loan amount, you’ll be able to narrow your house search to that price range.

Having a pre-approval letter also shows sellers that you are serious about (and capable of) purchasing their home. This can make a big difference in active real estate markets, where the seller may receive multiple offers from competing buyers.

4. Find a real estate agent to help you.

All home buyers can benefit from having professional help from an agent. This is especially true if you are buying a home for the first time, or in a new city you’re not familiar with. An agent can help you find a home that meets your needs, evaluate the seller’s asking price, put together a strong offer, and negotiate effectively based on current market conditions.

5. Start house hunting.

House hunting is the most exciting part of the home buying process. This is where you and your agent visit homes to find one that matches your needs. If you have a smart phone, be sure to bring it along so you can take pictures. And focus on the more permanent features of the home, such as the location, the lot, the square footage, etc. Don’t worry about the paint or the decor — you can always change those things.

6. Make a smart offer based on market conditions.

Once you’ve determined that the seller’s asking price is fair and reasonable, you are ready to make an offer on the property. In most cases, it’s wise to make the offer contingent upon the home inspection. It gives you a way to back out of the deal if the inspector uncovers an issue you’re not comfortable with. Your agent will help you prepare an effective offer. It’s one of their core skills.

7. Attend closing to sign your paperwork — and get your keys! 

Once you’ve made it through the inspection stage, you’re ready to attend the closing. (It’s also called “settlement” in some parts of the country.) This is when the title to the property is transferred from the seller to the buyer. You’ll also be signing a lot of paperwork and paying any other fees that are due.

Buying, Tips, , , , , , , , , ,

4 Reasons to Buy This Summer!

Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 7.1% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 4.9% over the next year.

The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained around 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac & the National Association of Realtors are in unison, projecting that rates will increase by this time next year.

An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.

As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.

Are you ready to put your housing cost to work for you? 

4. It’s Time to Move on with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.

But what if they weren’t? Would you wait?

Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

 

Article by Keeping Current Matters – Click here for the original article 

Buying, Important, Moving, News, Real Estate, Tips, , , , , , , , , , , , , , , , , , , , ,

YOUR OPPORTUNITY TO ACHIEVE THE AMERICAN DREAM KEEPS GETTING BETTER!

YOUR OPPORTUNITY TO ACHIEVE THE AMERICAN DREAM KEEPS GETTING BETTER!

Forbes.com recently released the latest results of their American Dream Index, in which they measure “the prosperity of the middle class, and…examine which states best support the American Dream.”

The monthly index measures several different economic factors, including goods-producing employment, personal and commercial bankruptcies, building permits, startup activity, unemployment insurance claims, labor force participation, and layoffs.

The national index score was rounded out to 100.0 in January as a baseline for comparison and it rose the fourth straight month in a row to 101.8.

Alaska, coming in at 89.4, represented the lowest score on the index due in part to the recent collapse in oil prices. In contrast, Wyoming came in with the highest score at 115.1. The full results can be seen in the map below.

Your Opportunity to Achieve the American Dream Keeps Getting Better! | Keeping Current Matters

Forbes Senior Editor Kurt Badenhausen explained why many states saw a boost in the index last month:

“The American Dream Index rose for the fourth straight month to 101.8 propelled by gains in goods-producing jobs and building permits, as well as declines in unemployment claims and mass layoffs.

Goods-producing jobs (manufacturing, mining, construction and agriculture) were up for the ninth straight month in May…Building permits rose for the fourth straight month compared to the prior year.”

Bottom Line

The American Dream, for many, includes being able to own a home of one’s own. With the economy improving in many areas of the country, that dream can finally become a reality.

 

Article by Keeping Current Matters – Click here for the original article 

Buying, Important, Moving, News, Real Estate, Selling, Tips, , , , , , , , , , , , , , , , , , , , , , ,

Do you know about these homeowner costs when buying a home?

Budgeting for buying a home can be difficult enough when you’re just weighing mortgage options and a purchase price. But there are many other factors that go into the cost of home ownership. Some of them are one-time expenses that you’ll pay during the home buying process, while others will be recurring costs for as long as you own the home.

Closing costs

There are several smaller fees that add up to a rather large sum when you’re going through the closing process-loan fees, attorney fees, underwriting fees, and more. They typically add up to 2-5% of the purchase price. For a $300,000 home-roughly the national median-that’s in the neighborhood of $10,000, so be sure to budget for it.

Appraisal

Your lender will require an appraisal, and the appraisal fee (a few hundred dollars) comes out of your pocket. Inspection

The few hundred dollars you’ll pay for a home inspection is money well spent, but it’s something you have to keep in mind during the purchase process. You’ll have the peace of mind of knowing the house is free from any major issues, and you’re making a smart, solid investment.

Insurance

Although homeowners insurance isn’t legally required, it’ll almost certainly be required by your lender. Further insurance, such as flood insurance, may also be required (depending on your location).

Home Owners Association

If you’re living in a property or community with shared spaces, you’ll almost certainly have an HOA fee. This pays for things like trash removal, maintenance of common areas, and for recreational facilities like gyms and swimming pools.

Buying, Moving, Pricing, Real Estate, Tips, , , , , ,

You might want to reconsider these choices when you’re designing your kitchen…

The kitchen is one area of the home that sees the most wear and tear. All the water, heat, and food spills add up quickly so it’s important to focus on quality and lasting appeal when you’re choosing materials for a kitchen remodel. Here are a few things you should avoid:

Cheap Laminate Countertops: The bottom rung of laminate is extremely susceptible to wear and tear. It can melt if you forget to place a hot pad under a pan that’s fresh out of the oven and the edges can chip off from repeated exposure to moisture and heat.

Flat Paint: A flat or matte finish is great in rooms with lower traffic, but it’s a bad idea in the kitchen where the walls are regularly exposed to splatters and spills. You need paint that can withstand an occasional heavy scrubbing, so opt for gloss or semi-gloss finishes.

Trendy Backsplash: If you watch any home remodeling show, you’ll certainly see kitchens with expensive, elaborate backsplash designs and materials. Those trends can be pricey to pursue and can look dated in a hurry. Subway tile is a cheaper, classic option that you’ll never regret, plus you’ll have more room in your budget to purchase quality materials to be used elsewhere.

Cheap Flooring: Just like the countertops, your kitchen floor needs to be strong enough to take some abuse. Cheap flooring easily scuffs and peels (especially from moisture). Quality flooring is worth the investment.

Interior Design, Real Estate, remodeling, Tips, , , , , ,

Curb Appeal 101

Do you plan to sell your home in the near future? If so, you need to do everything you can to increase the likelihood of a quick sale. This is particularly true in a slower market that has plenty of homes but not enough demand. In such a market, you must go above and beyond to attract buyers and make the sale.

Curb appeal is one of the key factors that will determine whether a potential buyer comes inside for a closer look, or keeps on driving. So it’s worth your time and effort to improve your home’s exterior appeal.

Here are some key areas to focus on:

* Start by assessing your lawn, if you have one. The grass should be green and healthy, unless of course it’s winter. If your lawn has problems such as brown patches, you need to address those problems right away. Turning a lawn around can take time, depending on how severe the problems are.

* Is the exterior paint chipped or faded? If so, give it a fresh coat of paint. It’s relatively inexpensive, and it will do wonders for that critical first impression we talked about earlier.

* When evaluating the paint, pay particular attention to the shutters, doors and trim. Sometimes you can get away with hosing them off. Other times they simply need to be painted. If the doors and shutters are painted different / contrasting colors, you may want to standardize them.

* Planting fresh flowers can really brighten up a yard and entryway. Healthy shrubs can do the same, and they don’t cost much either. If you don’t have a green thumb, enlist help from a friend of family member who does.

* The windowpanes should be spotless, and the frames around them should be free of dirt, cobwebs and defects.

* Lighting can be used for aesthetic and safety reasons at the same time. If you have potential buyers coming by in the evenings, light up the walkways and entry. Consider using decorative lighting to illuminate landscaping features, trees, etc.

* Do you have vinyl railings, shutters or storm doors outside your home’s entryway? If so, give them a good washing. You would be amazed at what a little elbow grease can do for these areas. It’s quick, easy and affordable — all you need is a hose, a bucket, and some car wash liquid or dish soap.

Create a Plan of Attack

The key here is to avoid taking on too much work at once, or spending too much money. You need to strike a balance of cost versus gain. If you bite off more than you can chew and create a long list of improvements, you could delay your ability to show the property. Create a checklist of all the projects you feel are necessary.

Next, prioritize your projects by level of importance. Organize the list by things that must be done immediately, things that can wait, things that aren’t a big deal, etc. That way, if you run out of money or time, you’ll have the most important items out of the way first. And remember to start with the lawn and other landscaping areas. Making the grass greener is a gradual process, so start that right away.

Conclusion and Going Forward

Curb appeal is essential when selling a home because it gives buyers a good first impression. On the other hand, if they get a bad first impression when pulling up to the house, they will carry that negativity into the house with them. That’s not something you want.

Do what is necessary to improve your home’s outward appearance, but don’t take on so much that you postpone the listing / showing of the property. And get help where you need it, if you’re not handy with a certain project. All of your efforts will pay off in the end.

Curb Appeal, Selling, Tips, , , , , , , , , ,

How and Where Do I Begin When Buying a Home?

Beginning a home search can be a disconcerting task, especially for first-time buyers. Perhaps the biggest question is how and where to begin the process. Some people begin by looking at real estate listing websites, while others call real estate agents right off the bat. The process varies.

So, what is the best way to begin your quest for a new home? In truth, any way you begin the process is a good way, because the most important thing is to get started. You will learn a lot as you go along, so the idea at this stage is just to get moving.

Here are some things to keep in mind at this early stage:

Do the Proper Research

Buying real estate can be an overwhelming experience for the first-time buyer. But you can make the process much easier simply by understanding it. Start with the lingo. By learning the terminology associated with home buying and mortgage, you will make smarter decisions along the way.

Next, start learning the differences (and pros and cons) of the different types of home loans. This includes the key differences between fixed and adjustable-rate mortgages, as well as government-backed versus conventional loans.

Your third area of research is the local housing market. What are home prices doing in your area? What is the supply and demand situation? Are you in a buyers’ market, a sellers’ market, or somewhere in between?

Set Your Budget

Early in the home buying process, you should sit down and work out a monthly budget for your mortgage payment and other housing-related costs. Remember, there is a difference between the loan amount you can be approved for by the lender, and the amount you can actually afford. In the end, only you can determine your housing budget.

Establishing a budget will help “frame” your home search so you are only looking at homes within your budget range. Many first-time buyers fail to take this step and therefore waste time and energy looking at homes that are well above their budget.

You can find plenty of websites that offer mortgage calculators, and these tools are a good place to start when determining your budget. Just keep in mind that the one variable you can never predict in advance is the interest rate. Only by speaking to a lender can you get a full mortgage quote that includes the interest rate (based on your credit history and other factors).

Get Pre-Approved for a Mortgage

Pre-approval is when the lender reviews your financial situation to determine how much of a loan they are willing to give you. After completing this process, you’ll be able to show the seller your pre-approval letter. This gives them the confidence that you can buy their home, which is especially important when more than one buyer makes an offer.

Do not confuse pre-qualification with pre-approval. Pre-qual is an informal process in which the lender tells you how much of a mortgage you might qualify for. Pre-approval, on the other hand, is a more detailed review of your finances and is likely to reflect the actual loan amount the lender extends to you. In other words, the person selling the home will pay more attention to the pre-approval letter.

There are different ways to begin the home buying process. The list of steps offered above is a good place to start.

Buying, FHA, First Time Home Buyer, HOA, Important, Millennials, Mortgage, Moving, News, Real Estate, Tips, , , , , , , , , , , , , , , , ,

3 Small Steps to More Sustainable Living

Making little lifestyle changes will do a lot to enhance sustainability for the planet — and make every day Earth Day.

It’s a great feeling every Earth Day to bike to work and show your love of the planet. But sustainable practices — managing how you use resources to ensure that there will enough for future generations — doesn’t have to be limited to once a year. With a few adjustments, sustainable practices can easily become a part of daily life and save you money while you help improve the planet.

What is sustainability?

Sustainable living is an umbrella term that covers many different ideas and programs. It can be as simple as recycling and using less water or as complex as changing state and federal policies to promote wind and solar power and high-speed rail transportation. Local planning commissions can promote sustainability by allowing higher density housing that uses less land.

If you want to support some of these public sustainability programs, you can contact your government representative to express support. You could also support a nonprofit group like the Edible Schoolyard program, which teaches kids how to grow and eat locally.

Opposition to sustainable practices

Not everyone is a fan of sustainable practices. Some people worry that conservation efforts produce more government regulation, increase living costs, and reduce corporate profits. Not sure where you stand on these major policies? Why not start small and see?

Eat locally. One of the biggest impacts a family has on the environment is what it eats. It takes around 10 calories of fossil fuel—in the form of fertilizers, processing, and transportation—to produce a single calorie of supermarket food, according to Michael Pollan, author of The Omnivore’s Dilemma. Cut down on your food’s energy impact by eating food grown near your home.

A 2001 study conducted by the Leopold Center for Sustainable Agriculture, Iowa State University, found that the cost of transporting food from the region or the local area was four and 17 times less, respectively, than buying from national distributors.

Finding local food isn’t difficult

* Local Harvest will help you find farmers markets as well as farms in your region that offer subscription programs. Signing up for a subscription means you pay up front, so there’s a risk if the harvest fails. Costs vary depending on the size of the share and your part of the country. A good estimate from Local Harvest is that you’ll spend about $600 to cover produce for a family of four during a four or five month growing season.

* Keep food even closer to home by growing your own, either in your backyard or in a shared community space. Expect to spend several hours a week seeding, weeding, and harvesting. Gardening is also a great way to teach kids about healthy eating.

The downside of eating locally is that food from a farmer’s market often costs more than the same from the supermarket. And in winter, you may eat a lot of cabbage and potatoes if you stick to local eating.

Buy gently used

Everyone likes something new once in a while—and fast-growing kids require it. Consumer spending is also a big contributor to a healthy economy. But producing and transporting new products from the factory to you also uses lots of resources. One way to get new stuff and still promote sustainability is to trade something you no longer want for what you need.

* Freecycle is a 7 million-strong global network of people who share their possessions—for free. Once you join online, you’ll receive regular email about used items that you can request and pick up. Eva Schmoock, a student nurse and mother of two in Carrboro, N.C., is an avid user. She’s found new homes for everything, including paint and kids’ bathing suits.

* A low-tech option: Organize swap meets with neighbors to lessen your environmental footprint without opening your wallet. Get your kids to put flyers in mailboxes to promote the swap. Or try a consignment shop.

Reduce trash by composting

It isn’t just what you buy that has an impact on the world’s resources, it’s what you throw away. The average American is responsible for almost 5 pounds of garbage a day, 12.5% of which is food scraps, according to the Environmental Protection Agency. That trash clogs landfills and pollutes ground water.

Want to reduce waste? Consider composting. Just put those peels and pods (but no meat or dairy products) in a separate container instead of the garbage can. When the container is full, carry it to your compost pile.

A $10 plastic bucket with a lid will work; fancier models have charcoal filters that cut down on smells but cost two or three times as much. Let your kids scrape plates into the compost pail or empty the full container.

You’ll find a compost bin for every budget. You can fence off a small (out-of-sight) section of your yard with less than $50 worth of mesh wire and poles. Plastic bins and barrels are neater, but can cost several times more. The best part of composting: In six months, nature will convert your waste into terrific fertilizer to sustain your vegetable or flower garden.

Article by HouseLogic Published: August 28, 2009 By Amanda Abrams

Important, News, Real Estate, sustainability, Tips, , , , , , , , , ,

Selling Strategies | Pricing Your Home for Quick Sale

You can price your home in one of three ways. You can price it to sell quickly, eventually, or not at all. The first option appeals to most sellers, obviously. So let’s talk about how you would achieve it. How to Price Your Home to Sell Quickly * When selling a home, you have to change your mindset from “owner” to “seller.” In reality, you are both of these things. But you need to think more like a salesperson than a homeowner, especially when it comes to pricing. Adopt this mindset now, before you move any further into the home selling process.
* Here’s a little mantra to help you think like a salesperson. “It’s not personal. It’s business.” You should repeat this mantra as you determine your asking price, and when negotiating with buyers. The personal and emotional connection you have to your home does not translate into market value.

* There’s a possibility your home is worth less today than when you bought it. When the housing bubble burst a few years ago, it caused property values to drop in many cities across America. You might live in a city where home values have recovered since then. If so, count yourself lucky. But you might also live in a market where prices haven’t yet reached their pre-bubble peaks. So be prepared for this kind of harsh reality, in case it applies you.
* The market determines what your home is worth — you do not. If you price the property based on what you need to get from the sale (and this amount exceeds the true market value), you could be in for a long wait.

* The only way to sell an overpriced home is by finding a buyer who is willing to pay more than market value. Such buyers are few and far between. Buyers are more price-savvy than ever before, due to the housing crisis of the late 2000s. Nobody wants to buy into a negative-equity situation, and most lenders won’t even allow it. So price the home properly from the start.

* If you have a real estate agent, he or she will help immensely during this stage. Your agent will gather data from recent comparable sales in the area. This is what agents refer to as “comps,” and they are the key to your pricing strategy. If the buyer also has an agent (and most of them do), they will be looking at the same data. If you price yourself above the comps but have nothing to justify the increase, your home might be on the market for a long time.

* If you’re selling the home by yourself, you should have an appraisal done. Comparable sales are a good guide to pricing, but they only take the other houses into account. They don’t take into account any improvements you’ve made to your own house. A person has to do this — whether it’s a real estate agent or a professional home appraiser. As you can see, there is a lot of research involved in the pricing process. But it’s necessary research. If you skip it, you could end up overpricing the home. And that’s rarely the path to a quick sale.

Selling, Tips, , , , , , ,