Tips on Purchasing a New Home

by admin on February 3, 2012

Tips on Purchasing a New HomeAs you work with your Realtor, you will be making choices constantly. With the help of your Realtor, you will narrow down your  “wants” to a list of “must haves,” and this will help your real estate agent guide you to a home that truly does suit you. This may take time, but do not become discouraged. Purchasing a new home is a big deal, and should not be entered into without plenty of thought.

Tips on Purchasing a New Home

One “must have” that may appear on your list is that you know that you want to purchase a brand new home. Some people just know that a new home is a “must” for them for various reasons. It could be that you and your partner are not handy with home repairs at all.

If that is the case, purchasing a home that requires repair work in the very beginning would just be a huge headache. Others have an aversion to living in a home where there is such an obvious presence of someone else already there. Whatever your reasons, if you have settled on purchasing a brand new home, your Realtor will lead you to your options. And, you will shortly discover the benefits and potential drawbacks to weigh as you close in on the right home for you.

Your Realtor should help you ascertain a new-home warranty; and, if those words do not come up, then you should ask. There are horror stories out there about people who bought new homes and as soon as they moved in had all kinds of troubles:  leaky roofs, flooding basements, doors or cabinets that won’t close, and more. You won’t have to worry about any such things, even if they do occur, if you have a new-home warranty. Reputable builders will give this to you in writing, and typically will warranty everything in the house for an entire year.

Some real estate experts suggest that you get a new-house warranty not from your builder, but from an independent insurance company. These warranties typically cover workmanship and materials for a year; heating and air-conditions, electrical, and plumbing systems for a two years; and major structural defects in the home for ten years. Look carefully through the fine print of the warranty and choose wisely.

The other horror stories that you sometime hear about new construction are delays in the home’s completion. Perhaps the best way that you can motivate your builder to finish the job is to not pay him until everything is done. That means everything—even a small detail that the two of you have verbally agreed upon needs to be finished. If you do pay the builder before every little step is completed, it truly leaves no incentive for him to come back. If he is busy with other homes, and he got his money from you, he will move your last few minor issues to the bottom of his list for sure.

Ask your real estate agent to help you negotiate the best possible contract with your builder. Real estate agents know that some contract’s can be very one-sided and require you to meet all kinds of deadlines regarding deposits, loan approvals, selling your current home, and more.

But the contract can sometimes leave the builder way too much leeway to actually finish and deliver your new home. Do not settle for such a lopsided contract. Instead, negotiate a fair deal, and then still include in the contract a reasonable date for you to opt to cancel and to get all of your money back. Your builder needs to know that if he does not follow through on the agreement that you will pull out of the deal. All of this should be in writing.

Approach your new home with excitement, and be wise as you invest in such a beautiful asset.

This article was provided by Kimberley Joy Kelly a Palm Springs CA Realtor. If you’re looking to build a new luxury home, you can check out some of the fantastic Golf neighborhoods in Palm Springs on Kim’s website. You’ll also have access to search all other Palm Springs neighborhoods as well.

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Want to Start off with a High Sales Price? The Dangers of Doing So

by admin on January 28, 2012

Want to Start off with a High Sales Price? The Dangers of Doing SoEveryone wants to get the best bang for their buck. They set their goals high and reach for the stars. After all, why sell your Rockledge real estate for less than it is worth right? However, many homeowners today are overlooking countless factors as to why pricing a home too high may just lead to disaster.

One crucial factor homeowners are not aware of is the stunt used by many realtors when trying to obtain your listing. Realtors know the market, or at least they should. They know what your house can sell for and they know who to market the property to.

Want to Start off with a High Sales Price?  The Dangers of Doing So

However, many realtors, when first speaking with you, will tell you a number for your house that is higher than what the house is actually worth. For example, if your house is worth $100,000; the realtor may tell you it can easily sell at $150,000. Why would they do this? Realtors want business. Thus, they will bump up their suggested listing price to gain your attention as well as skew your expectations of other competitive realtors.

Once the realtor has your listing, he or she often will try and sell the house to other agents or to another potential homeowner. The problem is, if your house is priced too high, fewer agents and homeowners will want to even view your property. With fewer viewers, you get fewer buyers. You can see where this line of thought goes, right?

After a few months with your home being on the market with little or no action, the realtor may then lower the price of the home. What is the problem with this? By then, your house is “old news.” There are countless homes that are listed at the proper price and thus many will not see a point in looking at your home a second time.

It is also more difficult to gain attention with the lower price, because your house has already been in the advertisements, listed on the realtor web sites, and discussed via word of mouth. It becomes quite difficult to get your home noticed a second time.

Buyer’s Are Paying Attention To Your Listings Activity

Another potential danger in listing your house too high is how you look to the potential buyer when you eventually lower your price. Many potential buyers may see your decision to be one made in desperation. If this proves to be correct, the buyer can then ask a lower price of you. It is not difficult to see what the possible outcome of this particular situation may be. Although you began the process of selling your home with a high asking price, you may actually end up selling it for a lower one.

The buyer knows you want to sell your house and he or she also knows that your house has been on the market for several months or years. Thus, they also know that you are probably willing to settle for a lower price if it means you will sell your house. With this pattern, you will actually get the opposite outcome you had intended to receive by pricing your home higher than what it is worth.

In order to avoid the drama and heartache of pricing your home too high initially, it is important to receive a proper assessment of your home. This assessment will not only suggest ways to improve your home in order for you to receive the greatest amount of attention, but it will also provide you with a fair asking price for the property. Although this may add a little extra to the dollars spent on the place, it is worth it to avoid the battlegrounds of the future!

For more ideas about selling a home to get the most money in the shortest amount of time, you can check out Mitch Ribak’s Palm Bay real estate website where he also gives access to view all Cocoa real estate for sale in the MLS.

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Preparing Your Home for Showings

by admin on January 26, 2012

Preparing Your Home for ShowingsIf you are planning to put your home on the market for sale, one of the most important things you can do to help it sell more quickly and for a good price is to learn about preparing your home for showings. The first impression that potential buyers get of your home is vital to the process, wouldn’t you agree?

Preparing Your Home for Showings

In fact, it has been said that homebuyers typically make a decision within the first five seconds of entering a home. Five seconds! Are you like most people in that your home has been lived in, has been well-loved, and is now gently used?

If yes, your potential buyer would prefer to see your home looking as close to new to them as possible. The goal would be to make your home appear neutral again—to somehow remove your personality from the home and make it neutral enough for someone else to put their stamp on it. How can you do this?

Preparing Your Home for Showings – Consider Home Staging

A real estate agent can be a great resource when you are considering how to prepare your home for showings. They are professionals, and many of them know all kinds of tricks to make the home look appealing to potential buyers. One current trend in showing homes for sale is called “home staging.”

Ask your real estate agent about it. If they feel competent in helping you prepare and stage your home, great. If they do not, hire a professional Home Stager to do the work. Or, perhaps you are particularly gifted in such areas and could research the matter yourself. However you choose to get it done, the time/money that you invest in staging your home well for showings will yield a return. Staging involves first de-cluttering the home, of course.

De-cluttering might include even removing whole furniture pieces. The less that is in the home, the more spacious the home will feel to its next potential owner. Then, removing personal items and rearranging the furniture for the best possible presentation is perhaps the next step to consider. Once you move things around a little, you may opt to paint or even update the flooring.

Some professional home stagers are sticklers about scents; they encourage you to avoid cooking anything that has a pungent smell to it shortly before showing your home. If it is possible, while you are preparing your home for showing open the windows as possible for a fresh air scent and feeling to your home. The fresh air approach even beats a particularly strong scented candle or spray.

Preparing Your Home for Showings – Worth the Effort

Truly, a real estate agent, a professional home stager, or your own personal research must be utilized in order to prepare your home for showings. You only get one opportunity to make a good impression on your potential buyers.

It can be tiresome to have your home ready on a same-day and last-minute basis all of the time. However, if you simplify your home and embrace that you are working towards the successful sale of your home, the hard work that you and your realtor put in can bring you the best possible results.

If you’re looking to sell a home, check out some great tips from Linda Wise on her Merritt Island FL homes for sale website. There you can also access MLS listings including Titusville FL homes for sale and Cape Canaveral FL homes for sale.

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What To Be Aware Of When Building a New Home

by admin on January 26, 2012

Building a new home alongside your chosen builder can be a very exciting process. Many people truly enjoy dreaming about floor plans, decorating ideas, and designs that they have seen in magazines or in open houses. If you find yourself operating this way, you may thoroughly enjoy working alongside a builder to design the home about which you have been dreaming.

What To Be Aware Of When Building a New Home

What To Be Aware Of When Building a New HomeA smart builder or architect will sit with you and gather what your wants and needs are, and then assess how he/she can build what you want. As you are working together, you will want to perhaps start with the practical and essential first; take care of your needs before your wants (Isn’t that what we teach our children?). Taking care of your essentials first will assure that you have the funding to build a home that is right for you and meets your needs.

Also, essentials matter when it is time to sell your home much more than do “add-ons.” For example, heating and cooling systems are valued more highly than hot tubs and saunas in a typical for-sale home. Consider your current lifestyle. Do you need a fence for privacy? Do you need a fence for the sake of your pets or children?

And, in today’s world you must consider wiring for high-speed Internet access to be essential, really. So, ask your builder/architect to help you think through the essentials first, before you start showing him pictures of indoor basketball courts and tanning bedrooms.

Do Your Research When Picking A Developer

As you are working with your developer, ask him about prices as you proceed in the planning stage. Research how his prices compare to others; if you find significant discrepancies, don’t be afraid to ask your developer about them. If his/her price quotes come in quite a bit lower than others’ do, ask questions about the materials that will be used. You don’t want to pay a low price and receive low quality.

And, if the prices are too high in some areas in comparison to others, ask why. Doing your own research and being somewhat aware of how your developer compares to others in terms of cost will keep them from taking advantage of you.

See If You Can Get Cheap Upgrades

As you are working with your builder, bone up on your negotiating skills. If you pay good money for an amenity (like high quality carpet or cabinetry), ask your builder if they can meet you “half-way” by throwing in an oven or dishwasher for free.

You would be surprised at the prices that builders can get things for since this is their full-time business. While you may think that it would really be troublesome for your builder to throw in something like that for free, he might actually have a fabulous oven or dishwasher that he can get for a fraction of the retail price. Ask

Whatever you do, do it all in writing with your builder. You can have fun building a new home, and you can have even more fun if there is no drama throughout the process. The best way to avoid trouble in building is to agree on things up front; and then even if changes need to be made, put them in writing also—with signatures.

Also, be smart and do not pay your builder until everything is done. Builders are somewhat notorious for almost finishing a home and then starting on another. If there are details to be done, it will be difficult to get that builder to come back and finish small details, unless of course you have not paid him in full.

Building a new home can be a great experience. Set yourself up for success and an enjoyable time by being savvy and open with your builder.

This article was provied by a Realtor in Arlington VA named Aaron Seekford. You can check out Aaron’s website where you can search all MLS Listings in Arlington VA and search homes in all of Arlington’s neighborhoods.

 

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What Do You Have To Disclose When Selling a Home?

by admin on January 17, 2012

What Do You Have To Disclose When Selling a HomeThere’s a lot of paperwork involved in selling a home, and luckily, your real estate agent will fill out most of it for you. But even if you are using a real estate agent, you are required by law to fill out your own seller’s disclosure.  Your real estate agent is not supposed to fill it out for you.

What Do You Have To Disclose When Selling a Home? 

To do so might trigger a lawsuit on down the road, and let’s face it; the reason for the disclosures being required in the first place is to avoid just such a scenario.  Each state in the U.S. has a unique set of laws in regards to disclosures, so the disclosures that you’re required to sign can vary based on residence.

A standard disclosure for all homes that were built before 1978 is the lead-based paint disclosure. If you recently purchased the home and have no information on the presence of lead paint in the home, say “Do not know”.

The Lead-Based Paint Renovation Rule went into effect in 2010 and is a rule affecting construction contractors, residential landlords, property managers and others who perform renovation for compensation in housing that may contain lead-based paint–housing built before 1978. Renovation includes most repair, remodeling and maintenance activities that disturb painted surfaces. It is highly recommended that you use Certified Renovators for any pre-sale work.

What Are Material Facts?

What Are Material FactsYou may also be required to disclose the so-called “material facts”.  Material facts are any facts that might possibly affect the decision to buy, or that might affect the offer that the buyer puts on the table.  Simply put, if you know of a problem or defect in the home or property, you are required to disclose it.  This can vary from state to state.

For instance, in California, if someone died on the property in the past three years, you are required to disclose that fact.  Many people are not bothered by the fact that someone died in the home, as long as the death was natural.  But there are a large number of people who fear that the dead person might come back and haunt the house.

It is notable that in some states, sellers are not required to disclose if someone died of AIDS in the home, since that may cause a claim of discrimination.  Nonetheless, there are states that require that you disclose facts that can affect the property like earthquakes, zoning changes, natural hazards, fire hazards, ground pollution, noise pollution, air pollution and more.

Sellers should always disclose problems with the foundation or with a wet crawlspace.  You should also disclose major repairs to potential buyers.  For example, if you replaced the roof or bolted the foundation or upgraded your plumbing or electrical system, these are all things that you should disclose.  And in disclosing them, you give the buyer peace of mind, in some instances.  After all, a newly replaced roof is likely one that won’t leak.

Bottom line: disclose everything that might be important to your buyer.  Your real estate agent can be a huge help in determining what needs to be disclosed, but ultimately, only you know the property well enough to truly disclose its material facts.  Honesty, in this instance, truly is a virtue, and can save you a lot of heartache, hassle, and possibly legal trouble on down the road.

If you’re interested in learning more about selling a home you can check out Vickie Nagy’s Blackhawk CA real estate website. You can also search homes for sale Pleasanton CA and Livermore CA real estate.

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What Is A Good Credit Score To Buy A Home?

by admin on January 12, 2012

What Is A Good Credit Score To Buy A HomeTo borrow money to buy a home, lenders must find you to be creditworthy. This means having a high FICO credit score. Your credit score reflects how you pay your bills and handle your debts. Basically, it tells lenders how you make (or don’t make) your payments every month.

Your FICO credit score is the judge of your credibility. And, because it lists all of your current creditors, it also shows what you can afford to pay monthly based on current debts and your income.

Even with a lower credit score, you still may be able to find a lender to finance you for a mortgage. But, one rule will always apply: the lower your credit score, the higher the interest rate the lender will charge you.

How does the FICO score count work?

720 and above

ñ  This score represents the crème of the crop. Your credit is considered to be A1 credit. You will not be turned down for a loan. You will be approved for any mortgage loan on any home that you can afford. You will receive the lowest interest rate lenders have to offer.

699 to 680

ñ  You have excellent credit. You may not get the lowest interest rate lenders have to offer, but your rate will be so low, you won’t even notice. Within six to twelve months of paying your mortgage and other bills on time, you will be on your way to having A1 credit.

679 to 620

ñ  You have what is called “good” credit. Although you may pay a somewhat hirer rate that the two categories above, you will not be denied a loan. But, you must be careful when you fall into this category. One late payment, and you could easily lose this rating and fall into a lower credit rating category overnight.

619 to 580

ñ  Like getting a “C” in school, you have satisfactory credit. Mortgage lenders will probably require more paperwork, maybe even a higher down payment to get you approved. But, somewhere out there, is a lender willing to finance your loan at a very high rate. But, paying your mortgage and other debts on time will have a major impact on raising your credit score in time.

579 to 500

ñ  Poor thing. You have bad credit. You just didn’t understand how your early credit decisions were going to impact your life in the future. Don’t worry, though. There are many unconventional lenders that will finance you for a loan. But, will you be able to afford it with the almost unbearable interest rates you will be offered? To avoid this, try improving your credit rating before becoming committed to a mortgage you may not be able to handle. This can stand to hurt you even more in the long run.

How do I obtain a sound financial status?

It’s important to maintain a good credit score, once you achieve it. You have to be careful with your finances and stay in control. Here are some helpful guidelines:

  • Avoid opening short term accounts.
  • Pay your accounts every month, on time.
  • Check your credit reports regularly and correct any errors that appear.
  • Multiple credit cards may result in confusion. This can lead to missing payments, or making payments late.
  • Avoid having too many debts. Keep your debts to a balanced limit that you can afford.
  • If you paid an account in full, avoid closing the account. This active, positive account can add to your credit worthiness.
  • Bankruptcy can harm your credit score tremendously. Avoid this option at all costs, if possible. They remain on your credit reports for up to 10 years.

As you can see, it’s crucial to have a good credit score when you plan on buying a home. By monitoring your financial status, being careful to follow a strict budget and paying your bills on time, you can maintain a sound financial status. Remember, the higher your FICO credit scores, the lower your home loan interest rates. This keeps your monthly mortgage payments low, and affordable.

Article provided by Paula Henry, an Indianapolis Realtor. If you’re interested in learning more about buying or selling a home in Metro Indianapolis, visit her Indianapolis Real Estate Blog or search homes for sale in Indianapolis on her website.

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Critical Cat Meets Fireplace

by admin on January 8, 2012

Critical Cat Meets FireplaceOK, I realize that pellet stoves and solar panels are greener and more energy efficient, but there’s still nothing quite like coming home on a cold, wet December evening and tossing a lighted match on some sticks and crumpled newspaper in your fireplace.

In realtor-speak, a fireplace is an “amenity”, something that adds value to your home, despite its obvious contribution to greenhouse gases and its perennially low ratings in energy efficiency comparisons.

Architecturally, a fireplace is a focal point, a show-off feature. You hear the expression “what a beautiful fireplace”, for instance, more than “what a beautiful door” or “what a beautiful window.” It’s something that not every house has. It’s a romantic thing, it adds character, and sadly, with today’s focus on energy efficiency, it’s becoming quite a lost art.

I once had a cat named Roger Ebert, because he was a particularly critical cat. And his favorite place in the whole house was sitting in front of a roaring blaze in the fireplace. He positioned himself facing the flames, observing the progress of the fire, and silently thinking of the better way he’d have built the fire if only I’d been smart enough to put him in charge.

“My human doesn’t understand the niceties of log stacking,” Roger Ebert lamented to himself, “and the damper should definitely be closed a notch, too much of this nice heat is going up the chimney.”

Sometimes he would look up at me, as if to say, “Don’t you think it’s time to throw another log on the fire, it’s getting a little chilly down here” or “You should really invest in a better quality firewood that doesn’t spit sparks at me.”

At other times, Roger Ebert would have a worried look on his face, and I could only infer that he was contemplating the safety aspects of the wood-burning operation.

“I hope my human has been getting the chimney cleaned once a year,” he was thinking, “it’s such a cheap and easy maintenance item, and a good opportunity to get the lining checked for cracks or signs of shifting. We don’t want to have to call the Fire Department to take care of a chimney fire.”

One thing that Roger Ebert didn’t worry about was the energy efficiency question. He realized that a fireplace is nothing more than a space heater, and, so long as you’re in the space being heated, you’ll be just fine.

I took a slightly more pragmatic approach. I had the fireplace fitted with glass doors and screens. The screens reduce the heat output, so you’d usually leave them open, but for safety reasons, it’s good to close them when you have to leave the fire unattended while you heat up a can of nice hot soup in the kitchen.

The glass doors, on the other hand, are more of a heat conservation feature. When you go to bed at night and leave the damper open, the fireplace becomes a vent through which all the warm air in the house is sucked up the chimney. By closing the doors, you keep that heat in the house.

So closing the doors was part of my going-to-bed ritual at night.

And there was Roger Ebert, basking in the glow, and he would glare at me and silently scream:

“No, don’t close the doors! Leave the doors open! You’re going to ruin it, you stupid human!”

This short story was provided by Mitch Ribak a Mims FL real estate agent. For more information about Mitch or to search real estate Rockledge FL and Real Estate Cocoa Florida, you can visit his site through those links.

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Easy Ways to Make Your Home More Attractive to Buyers

by admin on January 8, 2012

Easy Ways to Make Your Home More Attractive to BuyersThere are just so many, many homes on today’s real estate market. It is hard to make one particular home stand out to potential buyers.  Even though your real estate agent will do the brunt of the work by getting your prospective buyers through the door, you still need to help her close the sale when they get there by ensuring that they like what they see.

After all, it isn’t like today’s buyers, in today’s buyer’s market, don’t have many other choices.  You can significantly improve your chances of selling your home if you give just a bit of attention to staging the home appropriately for viewing and showings.

Easy Ways to Make Your Home More Attractive to Buyers

The goal of staging is to allow the would-be homebuyer to be able to vision themselves and their family or loved ones living in the home.  You want them to move in, mentally at least.  They must be able to see and feel themselves making the home their own, or they will simply keep looking elsewhere.

Staging the home is usually thought of as being a chore for the inside of the home, but in all reality, it makes a lot of sense to start staging from the outside.  The yard, the porch, the curb…these are all things that the buyer will initially see when they pull in.  You can’t change that fact, but you can make their experience outside a good one.

Trim your hedges, get your lawn in good shape, power wash your driveway, paint your front door and wash the windows. Make sure nothing is lying around that would make the home look unkempt. Buy new house numbers and put up a new mailbox, and put down a new welcome mat.

Yep, De-Clutter Is Still The Most Important Staging Advice!

Yep, De-Clutter Is Still The Most Important Staging Advice!De-cluttering is also important when you are staging your home to sell.  Sure, you have lots of stuff.  But having lots of stuff lying around will just make your home appear smaller than it is which can make some buyers turn away.

Get rid of all but the necessities.  You are not selling your belongings, just your space.  A buyer will find it difficult to visualize living in the room if there are too many objects scattered about.

A trick that some real estate agents suggest is going to the doorway of each room, and gleaning an impression from standing in the doorway.  That’s what would-be buyers often do when viewing a home – they go door to door throughout the house, taking a peek at each room.  Judge your work at staging each room from the doorway.

And perhaps the easiest, simplest, and yet least thought-of way to make your home more attractive to buyers is by employing good old “elbow grease” to give it a thorough, deep cleaning.  An immaculately clean home is one that is cared for and loved.

Show would-be buyers that you appreciate and love your home by getting down into every nook, every cranny, and getting it spotlessly clean before they look at it.  Give it the “white glove” test before the doorbell rings.  A clean home sells faster and brings more money than one that is half-way clean or not clean at all.

Article provided by Allison Klein a Realtor in Fort Collins who specializes in helping buyers find the best deals on Fort Collins homes for sale including Fort Collins Patio homes and Old Town Fort Collins lofts.

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