Helpful Hints for First-Time Home Buyers
November 21, 2007
Buying a house can be a daunting task, even for someone who has owned several homes. My husband and I recently purchased our first home together, and it was hard to find good advice that we truly found useful. We had to learn a lot on our own, but at least now we feel comfortable and knowledgeable about the whole process. Here are some helpful hints we picked up along the way:
1. Use your online resources.
Almost every state and local government has a website where you can research real estate information. The data on home sales, taxes, and neighborhoods is invaluable when you are shopping for a home. We were able to find out the most recent sale prices in the neighborhood we selected, and we didn’t have to rely on a real estate agent to get the data for us. Doing the research yourself will make you more knowledgeable about the market, which is key to making a good purchase.
2. Be realistic about how much you can spend.
How to Sell Your House by Lease Options
November 21, 2007
Many people buy a house then have to move within a few years, due to divorce, relocation or financial difficulties. Without any equity though, it can be nearly impossible to find buyers and you still have realtor fees to contend with. There is a simple, easy way to have your payments taken care of for you and find a buyer, so that you can move onto your new life quickly and easily.
Homeowners can sell their homes by lease option.
What are the benefits of selling my house on a lease option?
When you lease option your house, you sell the right to purchase your home at a set price within a predetermined period of time. During that time, the purchaser of the lease option pays you a set monthly fee. They pay what amounts to their "rent" to you with the provision that they can purchase your house within a certain period of time and have part of the rent that they have paid you applied to their final purchase price.
Q What are the advantages of selling my home by lease option over listing it with a Realtor?
Stopping Home Foreclosure with Bankruptcy
November 20, 2007
Bankruptcy Will Stop Your Sale - At Least For Now For $395, you can stop your sale- at least that is what the ads say. You are about to find out how bankruptcy can be good or very damaging.
Bankruptcy will stop your foreclosure sale. It’s a fact. However, filing bankruptcy for the sole purpose of stopping foreclosure is not what bankruptcy is for. And anyone that does this to avoid foreclosure is in violation of bankruptcy laws. Here is some basic information on bankruptcy.
What Is Bankruptcy?
There are two types of bankruptcy, Chapter 7 and Chapter 13. Filing for a Chapter 7 bankruptcy means you are asking the courts to completely discharge your debts. Filing for a Chapter 13 bankruptcy is when you set up a court- approved plan to repay your debts.
Now, the two types of bankruptcy:
A Log Home Story
November 19, 2007
Solving problems while maximizing values
This story has a few good lessons and observations that no doubt can be used by you to take advantage of hidden opportunities that often lie in plain view for all to see, however, most people have not been trained or instructed on how to recognize or find them.
The following true story begins with a classic log home package, engineered, manufactured, approved and delivered for use in Alaska. A friend of mine, in 1996, built the home, and I helped him pour the foundation. This leads to our first observation in analyzing this deal: If you know the full history of a property, your confidence and position on the deal can be enhanced.
You can begin to research history and succession of ownership through county records, tax rolls and by contacting previous owners as far back as you possibly can. Optimally you want to end your search by getting to the original owner and builder of the property.
Home Hunting and the Internet
November 18, 2007
So, it’s home hunting time. Where do you start? Who do you contact? Well, home hunting has been made much easier with the advent of the Internet. There are plenty of websites these days with huge numbers of real estate listings, which make the task of finding a home so much easier. You can now browse through home listings, compare prices, compare the specifics of each home before deciding on which home you wish to see. Not only do you save on a lot of time but you get to choose from among a variety of homes hence not missing out on any home you may regret not having seen earlier. In addition, you also stand to benefit when it comes to negotiating for your new home as you have access to details of other homes and their prices and these comparisons can be put forward to the home owner.
Home Staging: How to Make Your Tract Home Stand Out in the Crowd
November 17, 2007
Home sellers who wish to market their property in development neighborhoods face tough challenges. All the houses look similar. All the houses sell for amounts in the same price range. The market — whether it’s a hot sellers’ market or a cool buyers’ market — largely determines the price, purchase terms, and length of time to sell.
How do you make your home stand out from the crowd? How can you turn your property into a “hot” sale, even if the market’s lukewarm? Remember the “Three M’s” and apply these Design Psychology strategies as you stage your home for sale:
1. Magnetism. Because most buyers won’t even get out of their car unless a home shows promise, create an exciting exterior that draws prospective buyers to your home. Place an interesting focal point in your front yard, such as a water fountain, a large urn, or a beautiful tree. Enhance your walkway with enticing plants or light fixtures that clearly mark the path to the front door. Use color psychology to either paint your front door or its framework a happy, inviting color, such as Sherwin William’s Torchlight (golden wheat) or Rose Tan.
5 Things to Look for in a Property Appraiser
November 16, 2007
Homeowners who are seeking a property appraiser often ask "How should I choose which real estate appraiser to use?" When selecting a property appraiser, keep the following in mind:
Always make sure a property appraiser is licensed or certified by the state to perform real estate appraisals. While state licensing and/or certification isn’t always an indication of quality, it ensures that an individual is has met certain standards and been authorized to perform property appraisals. Some states do not require licensing to perform real estate appraisals. It is unwise to use the services of any professional who is not licensed or certified.
Don’t be afraid to ask an appraiser for a copy of their license. A good appraiser will readily provide this documentation. Copies of licenses are commonly requested by mortgage brokers and loan officers. Once you get a copy of their license, it’s a good idea to check with the government agency which issued the document to ensure the license is active and in good standing.
Many excellent real estate appraisers carry a professional designation. The most widely known industry designations are SRPA, SRA and MAI. These designations are issued by the Appraisal Institute. These designations demonstrate an appraiser’s commitment to continuing education and ethical standards. Oftentimes, the standards required to obtain these designations exceed those set forth by state licensing/certified requirements.
Why I Love Country Living
November 16, 2007
As somone who has lived in both places, I can tell you that country living certainly beats the hustle and bustle of city life! Living in a rural area has advantages that simply can’t be bought at any price.
In the city I was bombarded with the sounds of horns blowing and sirens blaring. In the country I’m soothed by a chorus of whippoorwills, bullfrogs and crickets, along with the pleasant sound of a cool breeze flowing through the trees.
On congested city streets I had to deal with frustrated drivers and careless pedestrians. On winding country roads I have to try my best to ignore the postcard-like beauty of the farmland and forests so I can keep my eyes on the road.
Yes, country living is the lifestyle that I, like most people who have had the opportunity to experience it, prefer. Instead of pushy salespeople knocking on my door hoping to leave with some of my money, I have warm, friendly neighbors dropping by with baskets of fresh vegetables from their gardens. Not to sell of course - they simply enjoy sharing the rewards of their country lifestyles with others.
Buying an Unfinished Home Maybe Your Answer
November 15, 2007
For the first time "want-to-be" homeowner, purchasing an unfinished new home maybe just the answer. With mortgage interest rates still at record lows, there has not been a better time to purchase a home in decades. However, home prices have dramatically risen over the past several years, and even with low interest rates, for some the dream of owing one’s own home has still remained out of reach.
Purchasing an unfinished home can save tens of thousands of dollars, thus enabling some prospective homeowners the opportunity to buy a house that they may not have otherwise afforded. Unfinished homes are particularly attractive to young couples with no children and who have limited financial resources. The unfinished home concept allows the young couple to grow/finish the home as their family and financial resources do. In addition, if the new homeowners are willing to put in sweat equity they can save significantly on finishing the home.
Typically an unfinished home has a completed kitchen, living room, bath, and at least one bedroom. This is pretty much required by mortgage lenders and building inspectors as the home would otherwise be considered unacceptable for living standards. In many two story unfinished homes, the entire upstairs maybe left unfinished.
The Sadness of Old Buildings
November 14, 2007
From the book No Smooshing!
For years, I’ve carried on a not-so-friendly debate with some of my artist friends from the West Coast about their ideas of what constitutes a good subject. We seem to be able to agree on certain things, like apples and oranges-and even certain landscapes. But when it comes to their paintings of dilapidated old farm buildings, we part company.
Some folks see rundown farmhouses and caved-in barns as romantic. Artists paint pictures of buildings with weathered boards, leaning at impossible angles-and people take those paintings home and hang them on their walls.
But for me, I see those same abandoned farmsteads as unspeakably sad. After all, each one of those boarded up farmhouses represents the death of someone’s hopes and dreams for the future of their children and themselves.
I get the same sad feeling whenever I pass through a small town that was once a thriving place, full of life and activity, but now sits empty and lifeless, slowly crumbling back into the black earth from which it sprang. Last week, I was lost on some back road (not an unusual situation for me) when I came across just such a ghost town.
