Navigation Menu+

Paring Down Your List of Homeowner Must-Haves

Debating Whether to Stay in Your Home or Sell It? 3 Concerns That You Can Fix Without Leaving

Posted by on 2:30 pm in Uncategorized | Comments Off on Debating Whether to Stay in Your Home or Sell It? 3 Concerns That You Can Fix Without Leaving

It is easy to love the home you are living in when you are not having any problems. But, as soon issues start to develop that cannot be quickly resolved, you may start to envision yourself living elsewhere. It is true that some matters are not able to be handled when you live in a certain home, but there are also plenty of scenarios in which you can come up with an alternative or a solution to the problem at hand. Before you start making real plans to sell your home, you should see if the situation you are in can be fixed. New Kind of Lifestyle If you want to start traveling on a regular basis, you might think that homeownership is not right for you. The idea of having an empty house for several months out of the year may seem wasteful in your eyes. Continually making mortgage payments while out on your travels could be discouraging. But, you can just turn your home into a vacation rental to make a profitable situation out of strategically using your home. This is better than running a full-time rental, as it allows you to move back in at any given time. You can cancel the listing, sleep in the house for a few months, start traveling, and then list the property for rent again. Lack of Bedrooms If you feel like your home does not have enough bedrooms to accommodate the family you want to have, you should try to think about all of the alternative solutions that are at your fingertips. Some great examples include having your children share a room or downsizing what you have in two bedrooms to just one. You can also turn certain spaces into a bedroom, such as a part of the basement, attic, or garage. Selling and buying a new home is a method for achieving your goal, but so is staying and getting a little creative. Safety Concerns When you are not connected to the local community within the neighborhood, especially with your neighbors, you might feel like your home is at a higher risk of a potential break-in. This might just be an unwarranted concern, but you will not find a solution until you put yourself out there. NextDoor is a social network that allows you to connect with those around you through a user-friendly system. It is worth signing up and breaking the ice with your neighbors and the community to feel better about living there. This will help you build relationships with people living nearby to collaborate on safety and security. Also, just knowing these individuals will make you feel like you have a larger protection bubble. Although selling your home and buying a different property might fix some issues with immediate results, you should know when you can fix the issues you are having without leaving. If you decide that you still want to leave, contact a company such as Roger Deines Real Estate Group ReeceNichols to start working with a real-estate agent to sell your...

read more

How Property Management Companies Can Combat Mother Nature

Posted by on 9:48 am in Uncategorized | Comments Off on How Property Management Companies Can Combat Mother Nature

When you are trying to rent a piece of property, the last thing you need as a property manager is the side effects sometimes produced by bad weather. Taking steps to protect property landscapes is vital for you to make a profit and keep prospective tenants interested. The property owners you maintain landscapes for will appreciate your efforts as well. Follow these tips for maintaining and protecting the landscapes you depend on to make a good impression. Be Prepared For Flooding And Heavy Rains If you manage properties in areas that are prone to flooding when it rains, being prepared for it is a good idea. Constructing proper drainage systems in the landscapes of apartment buildings, single family dwellings and any other type of property you manage is best to avoid expensive damages. You certainly never want to call the property owner to tell him or her about devastating, expensive damages to the property you manage. Creating swales is another good way to redirect flood water. Consider redirecting water to storm drains at the curb for the best results. If you have property that is at the bottom of a slope, building a retainer wall can help a lot to prevent run-off from reaching the landscape. Maintaining Gorgeous Landscapes In Dry Areas                             Any time you take on a property to manage in a dry area, discuss with the property owner about planting drought resistant shrubs, trees and other foliage in the landscape. Bald cypress is a nice drought resistant choice. By doing so, both you and the property owner can benefit when the landscape remains beautiful during the hottest days of the year. Also, place organic mulch or peat moss around the base of tress and other plants for creating a barrier to prevent the evaporation of precious moisture. Mulch and peat moss around foliage will look great as well. When The Snow Starts Falling Even though your tenants may not see the ground when it is covered in deep snow, making sure it comes back in the spring looking good is vital. Protecting plants from extreme cold is a good idea, but you should know that when it snows, a deep cover will actually help to protect plants, especially their root systems. The parts of plants that remain above deep snow are the ones that will suffer the damage from the cold because the temperature under the snow is warmer. If a lot of snow has fallen on one of the properties you manage, inspect the landscape, looking for parts of the plants still showing under the snow. Covering up these plants with a dark plastic is a good way to keep them from freezing and dying. Taking steps to protect a landscape from Mother Nature’s tricks is a good idea, especially when you show the property to tenants and they decide it is perfect...

read more

Three Of The Best Ways To Buy Investment Property At A Huge Discount

Posted by on 7:33 pm in Uncategorized | Comments Off on Three Of The Best Ways To Buy Investment Property At A Huge Discount

In the last few years, the real estate market has slowly but surely started to rebound from the last recession. With this recovery, many people are looking to invest money in property, including many people investing for the first time. If you have money you’d like to invest in real estate but you have never invested before, here are a few of the best ways to buy real estate at a significant discount: Buy Land on Terms For people who don’t have a large sum of money to spend or don’t have access to loans, a great way to start investing is to buy land on terms. While many property owners aren’t willing to sell on terms, its not uncommon for an owner of land to be willing to sell to someone willing to make a down payment and pay monthly payments with interest. Setting up a loan on terms can be done without a credit check, mostly because it’s not a very risky agreement for the seller. The seller maintains the title until the property is paid for in full, which takes away all the risk. Buy Cheap Land at County Tax Sales Many people aren’t aware that the county they live in holds an annual tax sell on properties that are owned by people who haven’t paid property taxes in several years. The lots being auctioned in these tax sales usually have a starting bid of the amount owed in back taxes. The sales are typically held the same time every year, and the information is available on the county’s website. Because of the wide range of different types of land available at most of these auctions, there are opportunities for people to buy who may have a small budget. Buy a Foreclosure Home from a Bank For new investors who want to buy a first home to live in or to flip and make a profit, a foreclosure can be a great option. You will have to have more money to invest when buying homes, as these auctions require a cashiers check for the full amount of the winning bid within twenty-four hours in most cases. Most banks hire a law firm to handle all of the legal work, including the auction. Auction times can be found on the websites of firms that handle foreclosure, and you can usually expect the auction to be held at the local courthouse. Investing in real estate can be fun and rewarding, especially if you get in at the right time and right price. Any of the above ways to buy real estate can help you get property at the best possible price. Always do a lot of research and realize that all investments have risk involved. For more advice, contact Ebh Properties...

read more

Tips For Improving Your Chances Of Being Approved For A Home Loan

Posted by on 3:18 pm in Uncategorized | Comments Off on Tips For Improving Your Chances Of Being Approved For A Home Loan

If you have decided that you want to purchase a home, you need to improve your odds of being approved for a home loan. To help you do that, take a few moments to review the following tips. Take A Close Look At Your Credit Reports It is important to make sure that you are actually looking at your credit report from each one of the major reporting agencies. This is important because you will not always find the same exact information on each of them. You need to look for errors on your credit reports that could be damaging your credit score. Some of the errors that you will want to look for include old debts that were never removed after the time limit, inaccurate amounts of debt, and debts that are not yours. It is vital that you are looking for these things as soon as possible so you will have time to dispute them, have the dispute resolved, and have enough time for your credit score to adjust before you apply for a home mortgage.  Prepare For The Down Payment You may need a significant amount of money for the down payment, as well as the closing costs that will be associated with the purchase of the home. The best way to do this is to save money out of your paychecks that you have earned. This way, you will be able to show a paper trail of where that money came from. This is important because some lenders want to know how you came up with the down payment in an attempt to understand whether you can truly afford the home and so you are not getting them involved with any illegal practices. If you are borrowing some of the money, or possibly being given the money as a gift from family, you will want the person helping you to write a letter explaining that the money came from them. Improve Your Level Of Debt It is important to make sure that you are making your debt-to-income ratio more appealing. The best way to do that is to reduce the amount of debt that you have. Pay off any small debts that are lingering over your head and increase your income any way that you can. You could pick up some overtime at work. You could start a sales job on the weekends. The better your debt-to-income ratio is, the more likely it is that the mortgage lender will approve your loan application. With those few tips in mind, you should have no trouble preparing for the purchase of your own home. Click here for homes for sale or do an online...

read more

Livening Up Your Home’s Shabby Yard Before Selling

Posted by on 10:34 am in Uncategorized | Comments Off on Livening Up Your Home’s Shabby Yard Before Selling

If your landscaping skills have been less-than-stellar lately, your yard might need a refresh before you sell your home. Your yard and the exterior of your home are the first thing that potential homebuyers will see. Here are four quick tips to liven up a shabby yard as part of getting your home ready to show. 1. Clear-Cutting Overgrown Weeds The first step in dealing with an unruly yard is to clear-cut your entire front yard and assess what is underneath. If you can get rids of dead, overgrown weeds and plants, there just might be some greenery below. An overall sprucing up will at least make your home look more inviting and well cared for. 2. Potted Plants and Hanging Flowers A quick way to bring greenery and a splash of color to an otherwise drab front yard is with potted plants and hanging flowers. These can be bought ready to display and can line walkways and be hung in entryway. Smaller plants can still bring a welcoming feel to your home. If you are selling your home, don’t worry too much about these plants in the long run. They just need to do their job of looking nice until you close on selling your home. 3. Statues and Stones If you live in dry area or your location has been affected by a drought, you might be hard pressed to bring in anything lifelike to liven up your space. If you can set up non-living accents to bring in a little extra excitement. Source some stylish statues, fountains, or larger stones to incorporate into your yard. Be careful not to fall in love with these new items, as the new owners will most likely expect all landscaping to come with the home. 4. Mulch or Fake Grass If your yard space is bald or just a layer of long-dead grass, your hopes of a fresh yard happening quickly are slim. An alternative you can cover this with is mulch. This rich color of soil will liven up the look of your yard and can be good around trees or shady spots. Don’t discredit fake grass as an option when getting your home ready to sell. Fake grass is better than a dead yard and potential homebuyers can imagine what the space will look like with real grass down the line. If your real estate agent has some advice when it comes to sprucing up your yard specifically, it is worth it to hear them out. You want to make a good first impression and get potential homebuyers in the door. The best place to up your curb appeal is with sprucing up a shabby yard. Contact a business that specializes in real estate in your area for more...

read more

Reverse Mortgages: Can They Help You In Your Golden Years?

Posted by on 4:01 pm in Uncategorized | Comments Off on Reverse Mortgages: Can They Help You In Your Golden Years?

As people live in their homes for many years, the thought of utilizing the equity is often a consideration. This extra money is often used for major expenses, such as house renovations, education costs, or to pay off debt. A reverse home mortgage is an option for those who have owned a house for many years. There is quite a bit to know about the process, so the following is pertinent reverse mortgage information that may be helpful. What Are Reverse Mortgages? This payment arrangement is a specialized loan that allows homeowners to change a portion of their equity into a liquid asset. This built up equity that builds up over years of making payments on a loan can be paid out to the owner. Many people confuse this with a standard home equity loan. There is a significant difference, however. With this type of arrangement, borrowers are not required to repay the money until the borrowers are no longer living in the house as their primary residence. What Is The Difference Between A Home Equity Loan In addition to the above, there are some additional differences between these two arrangements. With a standard equity borrower, the homeowner must make regular monthly payments on both the principal and the interest. A reverse mortgage is different in that it pays the homeowner. There are no payments to be made. The owner, however, will be required to pay all utilities, insurance premiums, and real estate taxes. What Type Of Loans Are Eligible? To be eligible for this type of equity loan, the house must be a single-family dwelling or a unit with at least one unit occupied by the borrower. Condominiums and any manufactured dwellings that meet FHA standards are also eligible. All reverse mortgage information and requirements must be followed in order to qualify. Will The House Be Inherited? One primary piece of reverse mortgage information people have questions about is whether or not the house can be inherited after taking out a reverse mortgage. Once the house is sold or is no longer being used as a primary residence, the money paid out, as well as any finance charges and interest must be repaid. Any additional money will belong to the estate and can be transferred to heirs. There will be no debt passed into the estate. Can The Arrangement Be Cancelled? According to the federal law, the owner has three calendar days to change their mind and cancel out the loan. This process, called a three day right of recission will be included in the reverse mortgage information provided by the lender. Always reiterate the need for this information and have it thoroughly explained. Lenders will often differ on how they approach this process. Make sure to have all contacting information for the person or people who will be handling the cancellation as well as a copy of the lender’s policy. This reverse mortgage information is just the tip of the iceberg. It is crucial to discuss the process with a reputable lender to ensure there are no questions before moving...

read more

Two Tips For Those Wanting To Buy A House With A Pool

Posted by on 11:01 pm in Uncategorized | Comments Off on Two Tips For Those Wanting To Buy A House With A Pool

Buying a home with a swimming pool can help to ensure that you and your family are able to find relief from the intense summertime heat. However, if you are in the market for a new home, you may be unsure of what to consider when you are evaluating homes with either in-ground or above ground pools. Fortunately, you can use the following couple of tips to help ensure that you do not make oversights when evaluating a house with a pool. Make Sure You Understand The Costs Of Owning A Pool Many people will focus more on the enjoyment that a swimming pool can provide than on the responsibilities and costs that come with owning a pool. For example, individuals may fail to consider the cost of having insurance on the pool. Failure to have this type of coverage can leave your liable in the event someone is injured in your pool. Interestingly, this can apply even if the individuals was using the pool without your permission. In addition to the costs of insuring the pool, it may also increase the costs of your property taxes. The exact increase will vary based on the local community, but your real estate agent will be able to provide you with information about the local real estate tax regulations. By considering these factors, you will be better able to know whether the costs of owning the pool will prove to be a burden for you. Have The Pool Inspected By An Experienced Technician Without a functional pump, your pool would quickly become unusable. As a result, you should make sure to have the pool inspected by an experienced technician. There are a number of problems that the pump can encounter, and having it inspected can help to diagnose these problems before you make the decision to buy the house. During the inspection, the technician will thoroughly test each of the components of the pump before preparing a detailed report outlining any potential issues with the pump. However, the pump is not the only component that must be evaluated. The inspector should also inspect the walls of the pool for any possible signs of damage. Repairing the exterior wall of a pool can be extremely expensive and lengthy, but if it is not done, it can result in serious flooding of the yard. Before you make the choice to invest in a house that has a swimming pool, it is essential for you to make sure that your budget can accommodate the ownership costs that come from these amenities and having the pool professionally inspected. These two tips can help you to avoid some routine issues that first-time home buyers may encounter when purchasing a home with a pool. Visit a website like http://www.kathleengagnon.com to learn...

read more

Landlords: Knowing When It’s Time To Hire A Property Manager

Posted by on 11:02 am in Uncategorized | Comments Off on Landlords: Knowing When It’s Time To Hire A Property Manager

If you’re a landlord who’s been managing your property all on your own, you may feel it’s time to bring in a property manager to help you handle your work load. While you may be hesitant to enlist the help of a property manager for your rentals, below are three signs that it’s time to consider the possibility.   You’re More Interested in Rental Property as an Investment But Not as a Job Perhaps when you started out you thought you’d enjoy the management aspect of renting out your property, but, over time, you’ve discovered you’re more interested in watching your properties grow as an investment. If this is the case, hiring a property manager can help you to realize your dream. Being the manager of a rental property can be stressful, especially if the social aspect of the job doesn’t speak to your strengths. When you hire a property manager, many aspects of the job, such as maintenance and rent collection can be performed by that manager. This leaves you free to enjoy your investment. Your Number of Tenants/Rentals Is Growing Over the years, as your rental properties have grown, you may have begun to acquire more tenants or rentals than you’re able to adequately manage. Hiring a property manager can help you to greatly decrease your work load. Rental properties can require a lot of upkeep and tenants may appreciate a more hands-on property manager handling the day-to-day upkeep. A property manager is a professional whose job it is to keep your rentals in good condition and your tenants happy with their rental experience. If your number of properties is growing, it’s important that your reputation as a good landlord continues to grow with them.   You’d Like to Purchase Property Not Near Your Own Home When you’re a landlord, it’s possible to own rental property anywhere in the world if you have the help of a property manager on your side. A property manager acts as a stand-in landlord – they provide your tenants with all of the services you would provide if you were there, and they treat your rental properties as their own. This allows you to purchase property wherever you’d like. This means that with the help of a property manager, you could purchase property in low-cost states, getting a larger return on your investment. To learn more about the benefits of hiring a property manager for your rental property, contact a property management company...

read more

3 Things You Need To Know Before Renting A Property

Posted by on 4:04 pm in Uncategorized | Comments Off on 3 Things You Need To Know Before Renting A Property

Renting a property is a great way to explore your independence without having to actually purchasing the place. It allows you to enjoy the home without having to worry about some of the costs associated with owning your own home. However, there are certain things you need to make sure you understand when renting a property. Contracts can be confusing and filled with legal jargon that often leave you thinking one thing when it is in fact another. To help simplify the process and make sure you are getting what you need, here are three things you need to make sure you understand about the rental right from the start.   Who’s responsible for the repairs. While you might not have to deal with repairs during your tenancy, it is always good that you know who is responsible for paying them if something does occur. For example, if the shower suddenly stops producing hot water through no fault of your own, you need to make sure the landlord is responsible for paying the bill. You don’t want to find out that you are the one responsible for all repairs on the home or that there is a $400 deductible before they pay anything. The only time repairs should be on you to pay them is if you are the one who caused the problem to begin with.  How long the lease term is. Knowing the duration of your lease is important. You need to make sure you are comfortable with the terms. You don’t want to sign a lease only to find out you signed a two-year lease when you were looking for one year. It’s important that you are on the same page as the property owner. You don’t want to end up in a positon where you are trying to break your lease down the line. Any extra expenses beyond the rent. Make sure to ask whether there are any additional costs beyond your normal rent. For example, what are the late fees? How many days do you have as a grace period? While you might not plan on being late, things can happen that are out of your control. You need to know the numbers beforehand just in case you are ever late. The same thing applies with any pet fees or furniture fees. Do you have to pay extra for a furnished place or having a pet? By knowing the three things above, you can minimize your chance of something going wrong down the...

read more

What Can Changes In Federal Appraisal Laws Mean For You?

Posted by on 1:31 pm in Uncategorized | Comments Off on What Can Changes In Federal Appraisal Laws Mean For You?

If you’re in the process of selling or purchasing a home (or both), you may feel stressed about one specific point in the process — the appraisal. Your ability to obtain financing to purchase a home at asking price will depend on an appraisal at or above this price, and a lower than anticipated appraisal on your current home can make it difficult to sell for enough to cover your outstanding mortgage. Recent reforms in banking and real estate law have changed some rules for appraisers, and these changes could have a positive impact on your real estate transaction. Read on to learn more about how one of these rule changes may impact you. What federal law regarding home appraisals has been changed? The Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”) added a number of requirements for banks and other lenders that are intended to protect consumers against unfair business practices. One of these reforms eliminated an old rule that had created a central agency through which real estate agents, lenders, and appraisers could communicate. This central agency, the HVCC, was designed to protect appraisers against undue influence from lenders to set the appraisal at a certain value — however, in practice it implemented a number of burdensome hurdles that added time and cost to the real estate purchase process. The elimination of this agency permits free communication between appraisers and real estate agents, buyers, and sellers. How might this new law affect your real estate transaction? By allowing free communication between you or your real estate agent and the appraiser, this law will help you be informed of any needed repairs or other work that could be done to your current home to bump up the appraisal value. Often, the appraiser may be able to give you an estimate of how much your home’s value will increase if you perform certain tasks, and you can consult with your real estate agent to determine if making these changes would be cost-effective. Even if you decline to do so, you’ll have a better idea of the factors that should go into your home’s sale price. If you’re buying a home, you’ll have the same ability to communicate freely with your real estate agent and the appraiser. This can come in handy if you believe the appraisal is too low (preventing you from fully financing the home) or too high (causing the seller to set an inflated purchase price). You’ll be able to have any questions answered by the appraiser, and can make your decision to purchase, appeal, or walk accordingly. For more information, talk with realty executives, like those at The Lion Team, to understand how to make the most out of your appraisal...

read more