Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible. 1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It’s critical that [...]
Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs. 1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job. 2. What [...]
Condominiums and townhouses offer an affordable option to single-family homes in many markets, and they’re ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork. These are some of the important elements to consider: • Storage. Some condos have storage lockers, but usually there are no attics [...]
If the latest technology or entertainment options are important in your new home, add the following questions to your buyer’s checklist. 1. Are there enough jacks in every room for cable TV and high-speed Internet hookups? 2. Are there ample telephone extensions or jacks? 3. Is the home pre-wired for home theater or multiroom audio [...]
You’ll likely be responsible for a variety of fees and expenses that you and the seller will have to pay at the time of closing. Your lender must provide a good-faith estimate of all settlement costs. The title company or other entity conducting the closing will tell you the required amount for: • Down payment [...]
On closing day, expect to sign a lot of documents and walk away with a big stack of papers. Here’s a list of the most important documents you should file away for future reference. • HUD-1 settlement statement. Itemizes all the costs — commissions, loan fees, points, and hazard insurance —associated with the closing. You’ll [...]
Moving to a new home can be stressful, to say the least. Make it easy on yourself by planning far in advance and making sure you’ve covered all the bases. 1. Plan ahead by organizing and budgeting. Develop a master “to do” list so you won’t forget something critical on moving day, and create an [...]
Before you buy, contact the condo board with the following questions. In the process, you’ll learn how responsive — and organized — its members are. You’ll also be alerted to potential problems with the property. 1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the [...]
The average interest rate for a 30 year home mortgage has gone up to roughly 5%. This is approximately a 1% increase since last Fall. This rise can be attributed to the appearance of growth in the US economy, especially the job market. Economic signals suggest the recovery is gaining momentum. New claims for jobless [...]
What Are Vent-Free Gas Logs? Vent-free gas logs are very easy to install, require little upkeep and provide maximum warmth and ambiance to living rooms or bedrooms during chilly nights. They add aesthetic beauty and value to the home, come in all shapes and sizes, and can look and feel just like a traditional wood-burning [...]
Before you make your final buying or selling decision, you should have the home inspected by a professional. An inspection can alert you to potential problems with a property and allow you to make an informed decision. Ask these questions to prospective home inspectors: 1. Will your inspection meet recognized standards? Ask whether the inspection [...]
Gradual improvement in the housing market continues at a steady pace without government support. Six months after two consecutive years of tax incentives for buyers; starting in July 2008 with a $7,500 repayable first-time buyer tax credit, extending to a $8,000 nonrepayable first-time buyer tax credit in January 2009, and ending in June 2010 with [...]
Credit scores range between 200 and 800, with scores above 640 considered desirable for obtaining a mortgage. The following factors affect your score: 1. Your payment history. Did you pay your credit card obligations on time? If they were late, then how late? Bankruptcy filing, liens, and collection activity also impact your history. 2. How [...]
1. Tax breaks. The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, as well as some of the costs involved in buying your home. 2. Appreciation. Real estate has long-term, stable growth in value. While year-to-year fluctuations are normal, median existing-home sale prices have increased on average [...]
Make sure you choose a REALTOR® who will provide top-notch service and meet your unique needs. 1. How long have you been in residential real estate sales? Is it your full-time job? While experience is no guarantee of skill, real estate — like many other professions — is mostly learned on the job. 2. What [...]
Today should be a lot of fun because I’m co-teaching a class about technology at our Keller Williams office in Marietta GA in West Cobb with Connie Carlson. The topic of the day? “The Top 11 Nifty Tech Tips For 2011″. The class is aimed at exploring some of the cooler technologies out there that [...]
Title insurance protects the holder from any losses sustained from defects in the title. It’s required by most mortgage lenders. Here are five other things you should know about title insurance. 1. It protects your ownership right to your home, both from fraudulent claims against your ownership and from mistakes made in earlier sales, such [...]
• Owner’s manuals and warranties for appliances left in the house. • Garage door opener. • Extra sets of house keys. • A list of local service providers — the best dry cleaner, yard service, plumber, etc. • Code to the security alarm and phone number of the monitoring service if not discontinued. • As [...]
1. Know about exclusions to coverage. For example, most insurance policies do not cover flood or earthquake damage as a standard item. These types of coverage must be bought separately. 2. Know about dollar limitations on claims. Even if you are covered for a risk, there may be a limit on how much the insurer [...]
When you sell a stock, you owe taxes on your gain — the difference between what you paid for the stock and what you sold it for. The same holds true when selling a home (or a second home), but there are some special considerations. How to Calculate Gain In real estate, capital gains are [...]
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