Clustrmaps
Archive for June, 2009
The importance of Price and Condition of a Home: for the Seller
If you are selling your home, you want to get the best value for your home that you possibly can. After all, for years that home was yours, you pick your work into it, you put your time into, and now you want to get the money you deserve for it. Well, as a seller the price and condition of your home is very important in selling it. These are some tips and advice about the pricing and condition of your home to help you get the best value for your home that you can and enjoy it in the future.
Ask your real estate agent for advice
One of the first steps you may want to take is to ask your agent for their advice. It is their job to know about pricing, value, conditions, and more. They can tell you how much your home is worth now and what you can do to improve its value. So, start here first.
Look at listings and sales
It is important not to overprice your home, because it will lose its appeal, then you may have a harder time selling it. Look at what homes like yours are selling for to get a better idea about a good asking price.
Look at Houses Sold
Looking at houses that were sold or houses that were put back on the market will help to give you a better idea of the days your house may be on the market. It is a good idea to make comparisons if needed.
Look at houses that went unsold
Looking at houses that went unsold will give you a better idea as to why and that way you can help make the conditions better for your house so that it will sell.
Compare Active Listings
It may be a good idea to compare active listings to your home. See what one home offers that yours may not, so you can make needed improvements.
Look at the Market
Look at the market to see how well it is doing. See whether it is a seller or buyer’s market and how much homes are selling for. This may also be something to ask your agent about.
These tips and advice will get you started in really thinking about how important price and condition is when selling your home. It is important to know what is out there, so that you can get the best possible price for your home. Following these tips will help make that easier and then you can enjoy your new place even more.
First Time Buyer Home Insurance Tips
It is your first time buying a home and you are very excited. There are many things to think about, plan for, prepare and do, and you may be sure where to begin. You may have found a house you like, even found a real estate agent, a good location, and more, but you do not know where to go from here. Well, one of the things that is important for any homeowner is having homeowner’s insurance in case anything were to happen you would want to be prepared. If you are a first time buying though picking out insurance can be difficult. Here are some tips to hopefully make it easier for you so you can enjoy your new home.
Contact your real estate agent
This may seem like an obvious thing to do or maybe you are wondering if they would know about insurance. The truth is they may know more than you think. Since agents make a living from selling homes and helping people buy homes, it is part of their job to know about insurance. So, when beginning your search, asking your agent is a great place to start.
Shop around
Family, friends, the internet and your agent may be able to give you advice about where to look. It is important to not only consider prices, but the types and amount of coverage you need and what you will get. Looking around may help narrow down these questions.
Consider Deductibles
This is what you have to pay for your insurance company starts, so it is important to take a good look at these and find one that is just right for you.
Consider discounts
Some companies will offer a discount if you buy your auto and home insurance from the same company. Many companies also offer discounts if you install a security system in your home.
Try for group coverage
Some companies may offer discounts or other benefits, if you get coverage through a group or other association.
Consider private insurance companies
Some private insurance companies can offer better rates and policies than others, so just double check before deciding on anything.
These tips can help to get you started on the best way to pick out homeowner’s insurance. This will help you to have one less thing to worry about. Then, you can focus on moving in and enjoying your new home and your future.
Don’t Let Clutter Ruin the Sale
It’s a fact—people grow into a house. This means that if there are empty closets, you’ll find stuff to stuff into them. After a few years, the attic, closets, and garage are near-to-bursting. So what should you do when it’s time to move to a larger home (or, gasp, to a smaller one)?
De-cluttering is non-negotiable. While it’s okay to have your precious collection of Michael Jordan collector plates or ceramic pigs, you’ll want to box that stuff up before putting your house on the market. A lot of stuff can just be overwhelming to prospective buyers (and you never know—they might be Detroit pistons fans who hate the Chicago Bulls).
Here are four simple areas to start the de-cluttering process.
Area #1—Closets. Even if you’re still living out of the house, get rid of the closet clutter. Leave them half-full and well-organized. A super-stuffed closet says to a buyer, “This house is too small for you!” Leave the clothes and shoes you’re most likely to wear and move the rest out.
Area #2—Furniture. Less is more. It might be useful for every family member to have their own footstool, but the house has to feel airy, spacious, and inviting. Less furniture can help give it flow. Too much furniture can feel like a maze.
Area #3—Toys. Nothing screams “Disorganized!” louder than a closet (or space under a Disney princess bed) jammed with children’s toys. Even a barely-able-to close toy chest is too much. Cut the toy level by half to make the room (s) feel less crowded. (The same principle applies for adults and their toys: college paraphernalia, sports stuff, and knick-knacks. You don’t have to trash it, but box it up and get it out.)
Area #4—Kitchen. Get rid of the cookbooks, the gadgets, the rows of little appliances, the rack of coffee mugs. Empty out the junk drawer. Get a silverware drawer if you don’t have one. Make the kitchen clean, open, and organized. Think Emeril meets Martha Stewart.
If you have to rent a storage locker for a few months, do it. Get the mountains of books, mismatched furniture, desks, file cabinets, and stacks of old children’s toys out. Yes, it’s a pain. Yes, it takes a lot of time and effort. But if you want to make a quick and easy sale, the roomy, comfortable feeling that’s left in your now-spacious house will be inviting and effective.
Travel in Syracuse: Fun at the Rosamond Gifford Zoo
It is summer now and maybe the kids are getting bored and restless and ready for some fun. Maybe you are too. The problem is you may not be sure what to do, nothing is really playing at the movies, plus they are getting expensive and it is in doors. Museums can be fun, but usually tend to leave kids restless after the first half an hour. If you are looking for some fun for the whole family, the zoo may be just the right idea. It’s got cool and exciting animals to see, its outdoors, and its fun for people of any age. It is also the perfect day or weekend trip.
The Rosamond Gifford Zoo at Burnet Park is open from 10:00am-4:30pm for 362 out of the year. The prices are reasonable with kids being four dollars and adults being only six fifty. They have a large variety of animals from fish and reptiles to birds, lions, nocturnal animals, as well as many wildlife animals and penguins. There is an animal exhibit to interest everyone.
Some new animals are the white-tailed laughing thrush and they are rare in North American Zoos. In the last year only three of these animals have been hatched in captivity and one of them is at the Rosamond Gifford Zoo. Another new arrival is the Humboldt Penguin Chick. This is an endangered species that the zoo is working hard to help conserve.
Also, at the zoo there are animal demonstrations offered every few hours throughout the summer. During these demonstrations you can learn all about specific animals and ask any questions you or your kids may have. It is not only a fun and exciting day outside, but it can be very educational and interesting too.
At the end of your day, there is always a chance to buy a souvenir at the zoo’s gift shop which is full of wild Byrde Jewelry and Bamboo towels and robes as well as many other exciting gifts and surprises. There is something for the whole family to enjoy. Also, if you or the kids get hungry, you can stop into the zoo’s jungle café for a snack or even a meal.
When you and your family need a day outside this summer, why not try something new, different and educational too. Visit the Rosamond Gifford Zoo at Burnet Park and enjoy learning about the animals and having fun with your kids. It might just be a learning experience for everyone to enjoy.
View more information here: http://www.rosamondgiffordzoo.org
Check Your Credit Score Before Asking for a Loan
Your credit score can have a drastic effect on your ability to get a good rate on a mortgage. Most people realize this.
What you might not know is how important it is to know your credit score before even approaching a bank for a loan. Knowing your credit score before you start trying to buy a home is essential. For one, it takes away the chance of a nasty surprise when you get to the bank and find out that your credit is not as good as you thought. On the other hand, if you have really great credit, it is good to know that going in, as well. It gives you an edge in the process if you know your credit score; you can request the best terms possible for your loan, and you will very likely get them.
Knowing your credit score also makes it easier for you to shop around for the best rates. This is especially true if you have poor credit. Many lenders have an online estimate service for mortgages and other loans. Use these tools and compare the results. Cross any lenders off your list of potentials if they only offer consistently high rates. By knowing your credit score, you can narrow down the number of banks you need to visit without having to leave your home or even pick up the phone.
How much of a difference does your credit score make? Well, your credit score determines the interest rate for your loan, amongst other things. A credit score of 650, which is about average in the US, and 720, which is considered to be great credit, can make as much of a 1.5% difference in the interest. For a home that sold for $200,000, that is worth a couple hundred dollars a month in payments, or two to three thousand dollars a year.
The best time to check your credit before buying a home is not right before you start applying for loans; you should check as far in advance as possible, especially if you know that your credit score is low. It can take several years to rebuild credit. Checking your credit earlier means that you have more time to pay off any old debts and work on improving your credit rating before you start shopping for a loan.
Checking your credit is easy, and you can get all three credit reports free once a year. Be sure to check the reports over for any inaccurate entries, as they may be a sign of identity theft, and then begin paying down debts. Getting your credit score in the best shape as is possible, before approaching a bank for a mortgage, can save you thousands of dollars; isn’t that worth the time to check it early?
Are you ready to take the first step towards getting a mortgage for a new home? These are the three credit bureaus that lenders check. Follow the links to check your scores:
The First Time Home Buyer Tax Credit
Are you looking to move into your first home? Thanks to an $8,000 tax refund credit being offered to first time home buyers, this is a great time to consider making that move.
If you close on a home between January 1st and November 30th this year, you may be eligible for the tax credit when you file your taxes in 2010. This refund, offered by the federal government, will give qualifying buyers 10% , or up to $8,000 back as a tax refund credit. The requirements to claim this credit make it easy for most people to get qualify. You must be a US citizen or legal alien, the home must be closed on before the deadline, and you must make less than $75,000 ($150,000 for couples) a year.
This credit is only for first time home buyers. This includes those who have not owned their own home for three or more years. This incentive is meant to put more people into homes this year, and start an economic turn-around. And, unlike last years tax credit, offering new home owners $7,500, this amount does not have to be repaid. The only exception to that is if the new home owner moves out of the home within three years of when the home was purchased.
This all sounds great, right? But it would be a lot more helpful to many home buyers if the $8,000 was available now. Well, thanks to HUD (the US Department of Housing and Urban Development) you can take an advance on the $8,000 tax credit, and apply it towards your down payment or closing costs.
Here’s how it works: Your lender will purchase the tax credits from you, and then collect the money in your place during the 2010 tax season. You can then apply that money towards buying your new home. You will still need to provide the 3.5% mandatory down payment on your own, but the extra $8,000 can be used to pay down the amount you still owe, lowering your monthly payments. This is called a bridge loan.
The big downside to using the money right away is that you have to put it towards closing costs or the money you owe on the home. This isn’t a bad thing, as it makes the repayment of your mortgage a little easier, but it doesn’t help you if your home needs renovations. It cannot be put towards fixing up the house you just bought. If you can wait on the money until January, you will have the money to put towards painting, building a new deck, fixing the roof, or any other home improvements you might want. The money is yours to do what you want with.
If you are choosing to wait until tax time to get your refund credit, all you need to do is fill out an extra form. If you would rather apply the money to the amount owed on your home right away, talk to your lender when you are approved for a loan. Your lender can walk you through the paperwork and explain, in detail, how the bridge loan will work for you.
If you are considering entering the market for your first home, is this tax refund credit enough to encourage you to buy now, instead of waiting another year?
Tips for Home Inspections
Before buying a home, it is usually required that all home pass inspection. Every home inspection can be different depending on that state or even the city in which you live or are purchasing the home from, but homes do require an inspection before the purchase can be finalized. If you are a home buyer, you probably appreciate this inspection because it most likely means that the home is safe to move into, but you may not understand all the items on a home inspection list or what they mean. Here are some general tips for figuring out what the home inspections mean, so that you can feel safer and more prepared in your new home.
Check with your real estate agent about home inspection rules for your home
It is a good idea to first check with your real estate agent about the home inspection rules or regulations for the city that you are buying your home in. It is their job to know about these rules and to make sure everything is up to standards before home inspections are done. So, be sure to ask your agent first about any questions you may have.
Structures of the house will be looked over
The construction of the walls, floor, roof, and ceilings will be inspected to make sure there are no major problems such as leaks or cracks.
Outside of the house will be evaluated
The outside of the house is evaluated including but not limited to: wall coverings, landscaping, grading, elevation, drainage, driveways, fences, doors, windows, and lights. This is to make sure everything works the way it should.
Plumbing
The sinks, showers, and drains will be inspected as well as pipes, but this usually does not include a sewage inspection.
Systems and other components
Items such as the heater, air conditioning, air ducts, fireplaces, and sprinklers will be inspected to make sure they are working properly.
Electrical
Things such as the wiring, main panel, circuit breakers, exhaust fans, lights, and ceiling fixtures will be inspected for any problems.
Appliances
Items such as dishwasher, microwave, garbage disposal, firewall, garage door, and smoke detectors are inspected.
Items not included in home inspection might include:
- Asbestos
- Methane and radiation
- Termites
- Mold, mildew or fungus
- Rodents
- Lead
You may want to have these items inspected by other professionals or ask your real estate agent for advice.
These are the basic items that general home inspections cover and what to expect. These regulations though may vary from state to state or even city by city, so it is important to ask your agent for any information or advice. This way you can be sure that the home you are buying is completely safe for you and your loved ones.
Clean Houses Sell Faster
Sure, a damp cloth run over the tops of tables and counters is enough for regular company, only a prospective homebuyer is NOT your typical company. On some level, everyone knows cleanliness matters. But too many houses aren’t showroom-ready when realtors bring in potential buyers. Don’t be lazy about cleanliness.
Here are a few areas to pay particular attention to:
Bathrooms (shower/tub grout, drains, toilet, sink)
Bedrooms (mini-blinds, floorboards, under the bed, drapes)
Pet Areas (shed fur, scratched furniture/walls, pet urine smell)
Kitchen (refrigerator inside and out, stove inside and out, dishwasher, sink)
If you can’t get something sparkly new, consider replacing it. $8 for a new shower curtain and $40 for new drapes is an investment in selling your home. Now is not the time to pinch pennies. If your home has an odor problem (a common issue with children and/or pets), strongly consider getting the carpets professionally cleaned even if it means shelling out $200. If any walls are dingy or pockmarked with nail holes, it might make sense to invest in some new, bright paint. Spring for some range covers or fresh hand towels, if needed.
An absolute must—clean fingerprints off all windows and glass. Freshly cleaned windows let in more light, and most people simply prefer a bright home. Sure, glass gets dirty at an astronomically fast rate, so this might require a weekly scrub-down. Just do it. And while you’re at it, rub some wood oil into your floorboards, furniture, and woodwork until it shines, shines, shines.
An hour before a scheduled homebuyer is visiting, run a Swiffer across all inside floors, and take a broom to the walkway, porch, deck, and garage. First impressions really do matter. Don’t let someone leave your home thinking about how much cleaning THEY’RE going to need to do if they make an offer on your house. Make them walk away saying, “Now that’s a clean, lovely home.”
How to Make Your Offer on a Home STAND OUT!
I get calls all the time from buyers who say they are DONE with their current agent. They tell me their current agent is not doing a good job because they have made multiple offers on homes and they have not gotten one house. I get very saddened by this only because I know from my own experience that it is tough out there right now for agents. There are so many numerous factors that are hindering the realtors and clients do not understand it.
First, people want to see a particular home. So the agent will call only to find out that the home really is not active and that it has multiple offers on it. The status really and truly should be changed to pending or back up or hold depending on the situation. I cannot tell you how many times I call only to find out a home is not available. Many times, I can leave messages for other agents and they never get back to me because they are “too busy” aren’t we all. The board of realtors will be fining agents for not putting homes that truly are not active in their proper category so the other agents do not waste their time. I called on over 40 homes in Fontana the other day and one 1 was truly available.
The offer you make needs to stand out. What do I mean by stand out? Well, first you need to make sure you are working with a reputable bank…not ABC Mortgage in timbucktwo…you need to work with someone that people respect, such as a big solid bank like say for example Wells Fargo would be good. Anyone knows they are very strict with their lending. So, get a pre-approval, not a pre-qualfication letter. Also, when trying to buy a REO listing (Bank Owned) they do have you cross qualify with their lender which is normal. Many people do not understand this and get upset over it. Just do it, otherwise, your offer will not even be looked at by the bank.
Don’t ask for a lot of concessions. By this I mean, don’t ask for closing costs if you don’t need them. That will net less to the bank and someone may outbid you on a property. If at all possible make your best offer. I always run comparables for my clients so they are not over paying. One thing many people think is if they are the highest and best offer out there they certainly will get the house. Not necessarily if it is over the appraised value the bank won’t allow the sale to go to you. They know the market and know what the home should sell for, they want to get the closest to that they can. So, make sure you know what the house is worth and don’t overbid.
The type of financing really matters to the banks these days for an REO listing or (Bank Owned). Cash is best, but most people don’t have all cash. Conventional financing is best over FHA/VA loans. However, it is what it is and just keep trying. The inventory has been down therefore, homes are getting multiple offers. You want to get over to see a house as soon as it is listed and make an offer right away, don’t wait or it will be gone.
Don’t blame your agent if he/she writes up your offer how YOU wanted it. Remember, your agent represents you and you need to make sure you are happy with it before it is submitted. It is not totally an agents fault, we must take responsibility for our own actions and not be so tough on the agents. It is hard to get a house accepted with you are competing with so many other offers. You need to figure out what you can live with and not ask for on a home to make your offer stand out. And, you need to ask yourself how much you are ready to pay. See the comparables that your agent should provide you, and if they don’t ask to see them.
Keep your offer as simple as possible and make sure it nets the bank or seller the highest amount possible and that should help you have a stronger offer.
Source: Trulia – Joan P.
Bank Owned Checklist
Recently, it seems like every time a good bank owned property comes on the market, it is like blood in the water with four, five or more offers coming in. If you want to have a chance at snagging one of these good deals away from the other sharks, you need to come prepared. I have prepared a sort list of things you need to have ready in order to write the best offer possible.
- Make sure you are preapproved and have your letter with you. This will let you know what you can afford and also let’s the selling bank know that you are already approved and can buy the property in question.
- Have current bank statements and your check book. You will need to write a deposit check and many banks are asking for proof of funds up-front with the offer.
- Be prepared to go over asking price. If a home is worth $200,000, but only priced at $135,000, you can be sure that somebody else will offer full price for it. If you really want it, you will have to come in even higher. Most banks will give everybody the chance to come in with a ” Best and Final ” offer, but not always. Sometimes, your first offer is your only shot. Be prepared for this eventuality.
- If your Realtor is an experienced agent who has dealt with REO properties, listen to their advice. Odds are they have been in a similar situation and they know what to expect.
- If there are multiple offers, don’t ask for a home warranty, termite work, or anything that is not absolutely necessary. The more you ask for, the less chance you have of getting your offer accepted.
While there are many variables that can occur, keeping these five things in mind will help you get the property you want.
Source: Trulia – Isreal B.