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Steering clear of homebuyer’s remorse requires more than just picking the right home in the right neighborhood. According to a 2016 survey by J.D. Power, 27% of new homeowners ultimately came to regret their choice of lender. One major reason for the dissatisfaction was overall poor customer experience, including lack of communication and unmet expectations. Another factor? Pressure from the lender to choose a particular product or loan. You can remove some of the tension and turmoil of house-hunting by carefully vetting potential lenders. Here are some questions to ask potential lenders before you commit.
buying • credit score • debt • financing • first time buyers • mortgage • real estate • research • Uncategorized •
May 30, 2017
10 Questions For Mortgage Lenders
The most frustrating part of your homeowner purchase if you are not paying cash? The mortgage application and approval hands down! Start off your journey with some great advice!
Prepare for your meeting with your mortgage lender by showing up with these 10 questions.
Buying a home starts with finding the right mortgage lender. Here are the questions you should ask mortgage lenders, before you sign on with one.
10 Questions to Ask Mortgage Lenders
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1. What mortgage programs do you offer?
In many cases, choosing the best loan for your specific financial situation requires working with a lender who offers a wide array of loans. You don’t want to work with a lender who tries to push you into one loan simply because that’s the only option from their limited selection.
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2. Do you regularly handle the type of loan I’m looking for?
If the type of loan you’re looking for is more specific than, say, a conventional fixed-rate mortgage, a little more expertise is useful and in some cases, it might be necessary. An uncommon home loan like a United States Department of Agriculture loan, for instance, must go through an approved lender.
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3. What are the qualifications for the loan I’m seeking?
Even when two lenders offer the same type of loan, their minimum requirements could differ. For instance, Department of Veterans Affairs loans require a minimum credit score of 620, but a lender might require a minimum score of 640. So comparison-shop. Don’t assume the same type of loan means the same terms.
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4. Do you offer down payment assistance programs?
If you’re concerned about meeting down payment requirements for a loan, this is an important question to ask. Some lenders offer assistance programs. Putting more down generally lowers your interest rate. Even paying just a half-percentage point less in interest can make a huge difference in the lifetime costs of your mortgage.
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5. Can you give me an estimate of the rates and fees I might expect to pay?
While an initial estimate doesn’t guarantee your final, out-of-pocket expense, it can be a solid jumping-off point for evaluating lenders. However, rates fluctuate, so try comparing lenders on the same day to get the most accurate mortgage rate comparisons.
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6. Can you quickly provide an in-depth preapproval lender letter to my real estate agent?
If you’re house-hunting in a hot real estate market like Jacksonville, FL, or a home for sale in Colorado Springs, CO, time is of the essence. Make sure the lender can quickly provide an in-depth preapproval letter to your real estate agent. You want a preapproval letter that makes the seller confident you qualify for the home — and, ideally, you want it to be delivered before competing offers arrive.
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7. Will you be able to do a mortgage rate lock?
Since a small change in rates can cost thousands in the long run, check to see if the lender offers a mortgage rate lock. Be sure to ask about the associated fees, including how much it costs to extend the lock should it expire before closing.
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8. Do you handle mortgage loan underwriting in-house?
There’s a big reason to ask this one. If the loan underwriting is completed in-house, loans can be processed quicker and questions answered more efficiently. And that means fewer potential complications or delays that could push back a closing date a situation that can sometimes cause a sale to fall apart.
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9. What is the time estimate for processing my home loan?
When you’re coordinating the end of a current lease or timing a home sale with a new home purchase, knowing the estimated time it will take to process your loan is key. Of course, it’s always a good idea to build in a small buffer if you can and not just because loan preparation can take longer than expected. Surprises sometimes pop up during the final walk-through before the home sells.
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10. Can I expect communication in a straightforward and timely manner?
If your communication thus far hasn’t been efficient and helpful, that could be a bad sign of things to come. Find out if you’ll have a single contact who you can count on or just a general customer service line.
Source: Trulia Blog
appraisal • buying • first time buyers • Homeowners • market trends • neighborhood • neighbors • Offers • real estate • research • Uncategorized • value •
May 30, 2017
Does It Really Matter What Your Neighbor’s Home Sold For?
Interesting food for thought. Depending on the dynamics of the other homes in the neighborhood, fair market values can vary.
Whether you’re buying or selling, remember that your neighbor’s sale price is just one piece of the puzzle. Whether you’re buying or selling, make sure you look beyond the data to get the big picture on home values.
After researching the sale prices of his neighbors recent home sales, Steve Rennie thought he knew exactly what his Kansas City, MO, house was worth. But when the Rennies decided to sell and started interviewing real estate professionals, they discovered they needed more and more relevant information. While the sale price of homes on your street can provide important insight into the price of a home you’re selling or buying, here are some of the other factors you should consider to make your best deal.
Unique or unusual home? Comparable sales may not exist
The Rennies quickly realized that recent sales near them wouldn’t be the perfect way to gauge their home’s value. We had interviewed several agents, and most came back with prices for homes that were not truly comparable to ours, because we had a unique older home in an area of newer ones, recalls Rennie. Eventually, the couple called real estate agent Dan Vick, vice president of RE/MAX Results in Kansas City, who offered a different perspective.
Since I didn’t have comps in their exact neighborhood, I went a half-mile away to find homes of similar age and style, says Vick. They’d said they wouldn’t list their home for one penny under $180,000, but based on my comps, I asked: Would you mind if I listed it for more? The house sold the first day it was on the market for $189,500. The Rennies were thrilled.
While comps give sellers a point of reference and an understanding of how strong the real estate market is, Vick suggests calling a professional familiar with your neighborhood to interpret comps properly and gauge what your home is worth. In newer subdivisions, especially if one or two builders have built the majority of the homes there, you can look at similar floor plans. But in older areas, that rule doesn’t apply, because you don’t have the same house four doors down the street.
Stick to the facts and expert advice when pricing a home
Even when you’ve studied comps and have noted relevant details about recent nearby home sales, it’s often easy for sellers to overlook important information when setting a price, says Michael Kelczewski, a real estate agent with Sotheby’s International Realty in Centerville, DE. I continuously encounter sellers who value their home above fair market price, he says. Cosmetically upgrading a kitchen or bathroom won’t usually generate a 100% ROI, so I’m tactful when explaining the reality of property valuations or asset depreciation.
Pricing your property appropriately, regardless of what your neighbor sold for, is key in today’s market, adds Matt Laricy, managing partner with Americorp Real Estate in Chicago, IL. A couple of years back, people would price a home high, get lowball offers, and be willing to negotiate, he says. Nowadays, with low inventory, many sellers are too aggressive: Their neighbor’s house sold in one day, so they think, I’ll overprice my place because I know I’m the only one on the block. But buyers are smart; they may not even look at it until the price comes down.
Bottom line? Don’t be greedy, Laricy says. If you price your home realistically, you’ll likely get more than one offer and net more money in the long run.
Understanding how agents set prices can help buyers score the perfect home
Buyers can benefit tremendously from checking what homes in their chosen neighborhood have sold for, says Laricy. In Chicago, we don’t do price per square foot, so knowing what a neighbors house sells for is huge, he says. If it sold really low, that’s good news for you as a buyer.
However, buyers sometimes overlook other crucial details in their quest to zero in on the best price, he adds. That can lead to a harder sale or lower profit in the future. In big markets like New York, Chicago, Miami, and LA, where people are coming and going all the time, you’re buying an investment, he explains. Buyers usually don’t think about value: why certain buildings trade at different rates now, which ones will trade higher than others in the future, and which neighborhoods are worth more. These are things you need an expert eye for.
He notes that younger buyers tend to neglect that all-important real estate factor: location. They chase kitchens and bathrooms, he says. They’ll buy in a less desirable location to get a nicer kitchen. You can always change a kitchen, but you can’t pick up a property and move it.
Yet even as buyers and their agents leverage comps to make a good buy, sometimes the heart wants what it wants, says Vick. I think you can get too caught up in the comparable data. If your buyers have looked at 15 homes, and this is the one they’ve fallen in love with, it really doesn’t matter what the comps are; you’d better go after it with a strong offer, he suggests. A note of caution to buyers: be careful not to overestimate a home’s appraisal value, since an offer that’s much higher than appraisal value could put your purchase at risk.
Buyers should bring their best offers from the start!
Especially in red-hot real estate markets, Laricy advises buyers to bid smart the first time or risk losing out to another buyer. Usually, buyers who lowball are the ones who end up missing out on two or three properties before actually getting something, says Laricy. Be realistic by putting in a strong offer upfront.
First-time homebuyer Corinne Hangacsi followed that advice before purchasing her two-bedroom townhouse in Wilmington, DE, this spring. We did our research through Trulia. Our real estate agent definitely clued us in to what was happening in the area, but we also looked at other comparable properties ourselves, she says. That in-person research helped Hangacsi feel comfortable making a strong initial offer. My biggest piece of advice for first-time homebuyers is to be patient and do your homework. Go with your gut; when you find the right place, you’ll know.
Source: Trulia Blog
buying • Carpool • commute • Drive Time • family • first time buyers • Homeowners • moving • real estate • Uncategorized •
May 30, 2017
Are You Forgetting This Crucial Aspect Of Your House Hunt?
Lucky for you, Coldwell Banker Kappel Gateway property search function has a drive time filter! A very important consideration you should be aware of if you are a commuter.
If you had to choose, would you pick the dream house or the dream commute?
Anyone stuck in traffic can tell you just how important commute time is.
According to the U.S. Census Bureau, nearly 11 million of us drive an hour or more to work each way. In addition, Trulia’s Best and Worst Cities for Commuting, an analysis of American Community Survey data, and a 2015 online survey of more than 2,000 American homeowners, shows that commute times in the 50 biggest U.S. cities have steadily increased since 2009.
This could encourage some homebuyers to consider swapping larger houses and longer commutes for more modest properties closer to work. Others refuse to give up on square footage, a big backyard, and other suburban amenities. But no matter what you’re looking for, your future drive time to work is an important part of the house-hunting puzzle.
How to evaluate your commute before you buy a new house
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1. Map out the route from home to work
How your commute will affect your day-to-day life is important to know before buying a home. Start by clicking on the commute tab in Trulia Maps to calculate the distance between home and work. Then do a dry run, says Danielle Schlesier, a real estate agent with Coldwell Banker Residential Brokerage in Brookline, MA. Get in the car, hop a bus, or take the train and do the commute both in the morning and the evening, she suggests. Picture yourself commuting every day, and if the answer is Yes, I can manage this, then go for it. If the answer is no, keep looking for a home closer to your office. Use Trulia’s analysis of commuting methods to figure out how your city gets to work.
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2. Evaluate your work-life balance
Adding a commute can be a big lifestyle change, so consider all the pros and cons involved in that decision, says Jen Birmingham, a real estate agent with Coldwell Banker Residential Brokerage in Petaluma, CA. Think about how you feel when you’re on the road. Would a longer commute put you in a gloomy mood that could outweigh the perk of having a spare bedroom or space for a pool? Ask yourself: How will the added drive time impact your personal life and family time? How do these concessions balance out with the benefits of the move?
And consider alternatives, Birmingham advises. Does your employer offer flexibility in the commute hours? A commute schedule outside of usual high-traffic times can make a huge difference in the hours spent on the road, she says.
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3. Consider your life stage
Are you single, newly married, raising a growing family, or downsizing? Commuting may not be a deal breaker if you have other priorities. Buyers with families often opt for a larger home in a desirable neighborhood that comes with a longer commute, notes Luisa Mauro, broker/owner at Marathon Real Estate in Austin, TX. Clients with children may live further from their office to be in a specific school district. Typically, the further a house is from the central business district, prices are less for additional square footage, which is desirable for growing families.
Buyers may also want to evaluate how long they plan to stay in their current job versus how long they intend to live in their new home, adds Schlesier. You may change jobs, so you better really love where you live, she says.
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4. Add up all the costs, not just the financial ones
Buyers may underestimate the true cost of a lengthy commute, notes Jon Jachimowicz, a Ph.D. candidate at Columbia Business School who studies the daily effects of commuting on workers. Longer commutes make people more emotionally exhausted, explains Jachimowicz. If you have to drive into work 300 times per year, versus the 15 barbecues you’re going to have in your yard each year, people overweigh how much joy they’re going to get from those 15 barbecues versus the negative experiences from 300 days of commuting.
While you should definitely figure in commuting costs such as gas, tolls, parking, train tickets (and even things like extra hours of childcare), think about the psychological costs of commuting as well, adds Schlesier. No matter how much you love a house, it may not matter if you don’t have enough free time to enjoy it.
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5. Seek out alternative routes and travel times
Experiment with different routes and schedules when weighing a new commute, suggests Mauro. Our clients will work out or shop during traffic hours to maximize the time they have between work and driving home, she says. They’re able to get home more quickly by starting their drive home later.
Easy highway access also makes commuting more manageable, adds Birmingham. In a community like Petaluma, living 1 or 2 miles from the freeway can make a 20- to 30-minute difference in a driver’s day, so living near an entrance and exit of a major commuter thoroughfare makes life feel a lot easier, she says.
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6. Embrace the upside of a longer commute
Commuting can be a positive experience, says Jachimowicz, especially if you use that time effectively. His research shows that even small tweaks in your routine can make you more productive. For example, plan out your workday or practice for a performance review or a challenging conversation with your boss. One interesting thing about commuting is, you’re moving both physically and psychologically from one role to the next, says Jachimowicz. People who transition into their work roles as they’re commuting experience fewer negative consequences.
If you take public transit, adds Schlesier, catch up on work or clear out your overflowing inbox or voicemail. Commuting can also be beneficial if you reclaim it as me time, notes Mauro. Decompress from the workday and separate your professional and personal lives, she says. Listen to podcasts, books on tape, or learn another language.
While these strategies won’t magically cut your travel time in half, they will help you focus on the big picture. Having the opportunity to escape a bustling city and enjoy a more laid-back lifestyle can add a huge quality-of-life boost when somebody becomes a commuter, says Birmingham.
Source: Trulia Blog
backyard • landscaping • lawn • maintenance • real estate • summer • Uncategorized • watering •
May 30, 2017
Are You Making These 5 Lawn Watering Mistakes?
Ahhhh, the sweet smell of cut grass in the air…a true harbinger of summertime. Keeping that lawn green can be tricky without these great tips on watering!
Proper watering nourishes lawns, just as proper hydration nourishes our bodies. Yet too many of us are failing at both. We’re not going to lecture you about drinking more water, well leave that to your doctor or significant other. But we are going to give you a lesson about correctly watering your lawn.
Here are five lawn-watering mistakes that you’re likely making right now and ways you can fix those mistakes.
1. You’re over-watering your lawn.
Many homeowners drench their lawns with water. However, that’s not a wise move. Over-watering can leave your lawn susceptible to fungus and other diseases. It also can cause your lawn to grow too quickly and can wash away costly fertilizers, according to PlantCareToday.com. In addition, drowning your lawn wastes water.
To avoid excessive watering, PlantCareToday.com recommends buying a soil moisture meter. These meters are very simple and valuable tools that you can pick up for $10 or so at any garden center or home store, the website says.
Lawn care experts say most lawns need one inch of water per week. However, that’s merely a rule of (green) thumb, as watering requirements vary according to grass type, climate and seasonal changes. The amount of water required for an established lawn will be determined by its overall health, beauty, and ability to withstand use and drought, says Turfgrass Producers International, a trade group for sod growers.
Related: Spring Lawn Care Tips You Can Do Now
2. You’re under-watering your new lawn.
While your existing lawn may be getting too much water, your newly planted lawn may not be getting enough. Bayer Advanced, a maker of lawn and garden chemicals, says a new lawn is in a critical stage during its first year. Don’t rely solely on rainfall to establish a healthy, deep root system provide supplemental irrigation during the first year of growth, Bayer Advanced suggests.
How much irrigation you do depends on factors such as the type of grass and the climate.
3. You’re not monitoring your irrigation system.
If you’ve set up an automatically timed irrigation system to water your lawn, don’t put it on autopilot.
Irrigation timers are not set it and forget it devices, says Lee Miller, a turf pathologist at University of Missouri Extension. You’re not cooking turkey for Thanksgiving dinner. Sprinklers should be adjusted according to precipitation events.
For instance, if it’s been steadily raining the past two days, your sprinkler system should be off for a while afterward. The San Diego County Water Authority recommends turning off the sprinklers for two weeks after significant rainfall. After a storm, do not begin watering again until the top 1 to 2 inches of soil are dry. Lawns that lose their lush green luster will rejuvenate with the next rain, says Jeff Stephenson, principal water resources specialist at the San Diego Water Authority.
Researchers at Kansas State University found that 65 – 83 percent of homeowners surveyed in three Kansas cities didn’t know how much water their lawn irrigation systems had applied.
In reality, deep and infrequent irrigation makes for deeper root systems, UM’s Miller says.
4. You’re watering your lawn at the wrong time.
The worst time to water your lawn is when you’re probably sound asleep. Watering after dark soaks the lawn overnight; a soggy lawn invites fungus and other diseases to invade your grass.
When’s the best time to water your lawn? Experts says it’s around 4-8 a.m., before many of us have sipped our first cup of coffee.
Watering the lawn early in the morning gives it a good supply of water to survive the heat of the day, according to University of Illinois Extension. Early morning also tends to be when wind speeds are lower and, therefore, when water evaporation is less likely to occur.
5. You’re assuming that you’ve got to water brown grass.
When your lawn is brown, you might think it’s parched. However, it may simply have gone dormant during hot weather or drought conditions. Dormancy is simply a state of reduced water usage where the turfgrass … focuses resources on the roots, the Lawn Institute says. Dormant turfgrass will turn brown and is often considered unsightly, but it will recover when conditions improve.
In other words, brown grass doesn’t necessarily equal dying grass.
The institute says summer dormancy is a normal response to heat and drought, and most lawns can stay dormant for at least three to four weeks without dying.
During the summer, the worst that will happen if lawns are not watered is that weaker parts of the lawn or areas in hot spots will die, according to the Oregon State University Extension Service. When fall returns, lawns can be reseeded and will recover just fine over the winter.
Source: RisMedia’s Housecall
Bills • cable • Entertainment • Family Fun • real estate • satellite • television • Uncategorized • Utilities •
May 30, 2017
How to Get a Better Deal on TV Service Without Cutting the Cord
Like it or not, television access can be expensive. Especially with the limited time only offers once they adjust upward (why do they never adjust downward??) Take a look:
Although the idea of cutting the cord on expensive cable or satellite TV costs sounds amazingly liberating, the unfortunate truth is that this would mean losing access to some of your favorite shows and channels. Even if you could find most of your shows on Netflix, could you really stand to wait several additional months to find out what’s happening on Jane the Virgin or New Girl? If not, there’s still a way to cut the cost of your current TV service without cutting the cord.
Here are five simple steps you can take to negotiate with your current TV service provider for a lower monthly payment.
1. Get to know your current contract.
Whether we choose to admit it or not, most of us don’t fully understand the ins and outs of the contracts we sign with service providers. Ignorance might seem like bliss for a while, but when the price starts to go up after a certain period of time, you might wish you would have read the contract with your TV service provider before signing.
If you didn’t understand your contract before you signed up for service, it’s not too late to change the price! Dig into your contract and figure out what it entails. Be sure to read each detail so you won’t be surprised when the company representative you speak to brings up each stipulation. Knowing exactly what your current contract entails will help you build a stronger argument for negotiating a lower price and different terms later on.
2. Search for better deals.
The next step is to find out what kind of deals are out there that you’re not taking advantage of. All providers will run special pricing on certain packages from time to time. Finding out what deals your provider is running can help you identify a number you should negotiate for and provide proof for your negotiation.
You can use deal sites for specific providers or online coupon code aggregators to find the lowest prices offered for packages from your provider. Do a little digging on sites like these to find the lowest prices and make note of them. Be sure to save the exact URL for where you found the deals so that you can pull up all of the information you might need later on when you are speaking with your cable or satellite company.
3. Know your stuff.
Customer service representatives are more likely to win a negotiation with consumers who haven’t done their research. This is because they usually have counter arguments in their back pocket that help them get a leg up on callers.
Understand prices for specific channels and add-ons. If you have internet service through your TV service provider, brush up on average costs for the speed you’re currently paying for, and maybe even run a speed test to find out if you are actually getting the speed you’ve been promised.
Knowing enough about your TV and internet service to have an informed conversation with your provider will help you come in with a stronger argument for a lower rate—not to mention, you might find out that you’re actually overpaying for a specific package or speed you’re currently getting, which will give you another bargaining chip.
4. Pick up the phone.
This tip is simple, but also arguably one of the most important parts of negotiating for a lower monthly bill: pick up the phone. It might be easier and perhaps more efficient to send an email or engage in an online chat with a representative, but your negotiation will be far stronger over the phone.
During your call, make it clear that the possibility of cancelling your account is on the table and be persistent in your request for the lowest advertised rate. Explain your situation and let the representative know that you will need a bill reduction in order to keep your account open. They will likely try to offer you some freebies like free HBO for a few months or a year of the NFL Sunday Ticket, but don’t let up. Keep your eye on the prize of negotiating for a lower monthly bill, as this will be more valuable to you in the long run.
5. Solidify your agreement.
Once you’ve come to an agreement with your TV service provider, don’t just assume that your next bill will reflect the changes you’ve requested. Ask for a specific date for when this will go into effect and review the terms you’ve agreed upon one more time. Be sure to write these terms down so that you have a crystal-clear understanding of what your contract entails before you hang up.
To be extra sure your lower rate has been settled, financial pros recommend calling back to speak with a different representative to make sure they also see the changes that have been made to your account.
Few things are more frustrating than paying large bills at the end of the month. Although the hefty cable or satellite bill you’re currently getting at the end of the month might make cutting the cord seem more appealing, you don’t have to cut ties with your favorite programming to lower the bill. Hopefully this five-step process can help you pick up the negotiating skills you need to see a nice reduction on your next cable bill.
Source: RisMedia
backyard • Dogs • neighborhood • neighbors • real estate • Uncategorized •
May 23, 2017
5 Signs Of A Dog-Friendly Neighborhood
Where would be without our PUPPIES!! They are family members too. Looking for a dog friendly neighborhood? Here’s how:
Look for these puppy-friendly factors before making your move.
With more than 36% of U.S. households including a dog (according to a 2012 survey from the American Veterinary Medical Foundation), it’s no surprise that finding a pet-friendly neighborhood is an important consideration for many homebuyers. But how can you tell which neighborhoods are truly welcoming to your four-legged friends? Here’s what to look for on the house hunt.
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1. You see a lot of dogs out and about
An obvious sign of a pet-friendly neighborhood is one that has lots of dogs exploring with their humans. You want to make sure that people, neighbors, landlords, and business owners are going to welcome your pet, and the best indicator of that is if there are lots of other dogs around, says Janine Acquafredda, co-founder of Realtors 4 Rescues, a nonprofit that helps keep animals out of shelters. And where there are lots of dogs, there are lots of dog owners that care about animals, so your dog will be in a safer and happier environment. There’s more to this pet activity than just scoping out the canine social scene, though. A neighborhood with lots of dog activity is also much more likely to have dog-loving neighbors and those nearby dog-lovers are much more likely to help you find your pup if he ever gets loose or runs away.
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2. There’s a nearby dog park and the dogs playing in it look happy and relaxed
Not all dog parks are created equal, and you want to be sure the one near your future home will be a pleasant experience for your pooch. Read: the big dogs aren’t picking on the little guys. (For a quick scan of nearby green spaces your dog might enjoy, check out Trulia Maps and the Places to Play layer.) Visit on a weekend morning, when the park is likely to be crowded, says Amy Robinson, a dog trainer and dog expert in Vero Beach, FL. Observe the owners too. Are they watching their charges or chatting and drinking coffee while their dog is a hundred yards away? How clean is the place? Are people picking up after their dogs? All of these answers will give you an idea of what type of dog and owner frequent the park, she says. Bonus: Hanging at the dog park can help you make friends in your new neighborhood.
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3. You can easily find an animal shelter, veterinarian, and pet supply store
The existence of all three essentials shows that the community cares about the well being of animals, says Ashley Jacobs, CEO of Sitting For A Cause, a site that matches pet owners with local petsitters. When you have a community who cares about animals, keeping them healthy and controlling the pet population, that’s always a telltale sign that your dog will be welcome and loved, she says.
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4. There are plenty of sidewalks and places to walk
We bought our house because of the size of the lot .98 acres for the dogs, says Peter Taylor, a photographer who has three dogs and lives in Mountainbrook, a neighborhood in Charlotte, NC. And the roads are wide, with very little through traffic, great for walking. After all, you’ll walk your dog often, so you’ll want a neighborhood that makes this accessible. In addition to sidewalks, are there trails or beaches to explore? Bonus points if the neighborhood provides waste bags or dog-accessible water bowls, which are a sure sign an area welcomes pooches, says Jacobs.
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5. Places for people also welcome pets
If a neighborhood looks promising, call or stop by some of the local restaurants, stores, or coffeehouses and ask about their policy on pets. Look for dogs lounging on local restaurant patios while their human family members enjoy lunch or dinner nearby. Spotting dog treats on the counter at the neighborhood bakery or brewery is a good sign. These little extras will enhance the quality of life for you and your pet and make your new neighborhood feel like home.
Source: Trulia Blog
buying • credit score • debt • financing • first time buyers • real estate • Uncategorized •
May 23, 2017
I Can’t Get a Traditional Mortgage… What Are My Alternatives?
Quandry: You are faced with circumstances that may prevent you from obtaining a traditional mortgage. Don’t panic…you have alternatives!
You want to buy a house, but your credit history isn’t in tip top shape, or you cannot show a consistent cash flow even though you have a lot of money saved in the bank making you an undesirable candidate to borrow in the eyes of the lenders.
What are your options? When it comes to real estate, here are some of the most common alternatives to a traditional mortgage for you to take into consideration:
Borrow from a Self-Directed Individual Retirement Account (IRA). Self-Directed IRAs are different from Roth IRAs and traditional IRAs. A Self-Directed IRA gives you the freedom to invest in many nontraditional assets, such as mortgages, real estate, promissory notes, tax liens, precious metals, private businesses, etc. With a Self-Directed IRA you get asset protection and tax advantages as they are government-sponsored retirement plans. Due to the self dealing rule, the IRS does not allow you to borrow against your own self-directed IRA, or those of your lineal relatives and business partners. This means that you would need to know someone who has a Self-Directed IRA to borrow from, or a third party financial company that facilitates those types of transactions. For more information on how to get private lending with a Self-directed IRA, read more on Self-directed IRA Lending.
Borrow from your Whole Life Insurance policy. Whole Life Insurance is a basic cash-value life insurance. When you pay the regular premium on a Whole Life Insurance policy, you are essentially accumulating wealth through the equity growth that you are contributing which goes into a savings account. If there are dividends or interest in this account, it is tax-deferred. Don’t mistake Whole Life Insurance for Term Life insurance. Whole Life Insurance protects you for your entire life, and allows you to borrow against the cash-value of your policy. A pro tip to borrowing against your Whole Life Insurance is that it increases your borrowing potential however, should you not pay back the loan the face value of your policy reduces. If this is the strategy you choose to implement to buy your dream home, be sure to thoroughly research this option. Ask yourself and your insurance company the following:
1. What would the Pros and Cons be to borrowing against Whole Life Insurance?
2. How long will it take to repay the loan and what would be the interest rate?
3. What would happen if you pass away before the loan is payed off?
4. What are the consequences to dependents who are beneficiaries?
5. How does it affect the annual dividends?
6. Are withdrawals of the Whole Life Insurance taxable or deferred?
7. In what scenarios would the Whole Life Insurance policy lapse if you barrow from it?
There are many things to consider when borrowing against your Whole Life Insurance policy, so be sure that your decision to buy your home outweighs some of the drawbacks of borrowing against your life insurance.
See if you can get Seller Financing. Seller Financing is a great way to skip the whole mortgage approval process. However, it is quite difficult to get for the following reasons:
(1) The seller does not own the house outright, and for the seller to give you a financing option, the seller must have paid off his/her mortgage in full.
(2) Most sellers do not want the hassle and additional risks of being a lender even though they could profit more by being the financier. With that being said, sellers don’t necessarily have to be a lender. The seller can arrange to resell the promissory note to an investor.
Buy a rent-to-own home. Rent-to-own, lease-to-own, or lease-to-buy are all the same. Often times, homeowners who want to sell off their homes but can not, those home owners may list their homes as a rent-to-own. If you and the seller sign a lease contract and you pay the Option Consideration section of the lease contract, the seller is agreeing to rent his/her home to you for a specific amount of time. Once that time ends and you have been paying the rent on the lease agreement in a timely manner and building equity towards the purchase of the home; you will have the option of going through with the purchase or not. For more details about renting-to-own a home, read Pros and Cons of Renting to Own a Home.
Source: Dream Casa
curb appeal • decorating • remodeling • selling • staging • Uncategorized •
May 23, 2017
What Will Give Your Home the Most Curb Appeal?
The Jury is IN! You never get a second chance to make a first impression. Curl Appeal is one of the single most important details you need to address when putting your home on the market! If your home looks amazing on the outside, Buyers will naturally assume that it looks equally as awesome on the inside. Here’s how:
How attractive your property looks when viewed by passer-byers can make all the difference in today’s market. To make sure potential homebuyers get a great first impression, consider improving your place by doing the following:
1. Revamp the front door.
Never underestimate the impact the main entrance of your house has on its curb appeal. Make sure it looks great by giving it a new coat of paint that stands out but still fits in with the rest of the home’s color scheme. Unless it’s worth replacing, in which case we recommend a custom wood door, be sure to give the door a good cleaning and polish before painting it.
2. Include nice porch furniture
If you have a porch that’s visible from the street, you can make your place look more inviting and homelike by adding some furniture. Things like nice wooden benches and a wicker patio set can make your curb appeal skyrocket. If you have the money, swap out your ruined rockers and other old porch furniture in favor of something new gliders with matching ottomans, for example.
3. Redo the house numbers
There’s just something about neat, eye-catching house numbers that leaves a good impression, especially to people on the hunt for a new house. If you don’t believe us, walk around your current neighborhood and you’ll see the difference big, bold house numbers make. It also helps to make them stand out by using aged copper, hand-painted tiles, or something unique when compared to other nearby houses.
4. Light up the place
Making sure the front of your place has great landscape lighting can improve your home’s curb appeal while making it a safer place. Switch out old lamps, pendant lights, and wall sconces with new ones that look better and offer more lighting. Pathway lights, especially solar-powered, that illuminate the walking path in your home will make the property appear better and more secure.
5. Spruce up the verdure
While there are exceptions, most people find a house with no plants outside boring-looking. If your front yard is lacking in the foliage department, invest in some new plants to give your home some vibrancy. Plant flowers, add potted plants, replace ugly weeds with a fresh lawn whatever it takes to make the area look lively and attractive.
6. Tap into your artistic side
Add a touch of style and class to your front yard by including outdoor artwork. We’re talking about things like birdbaths, fountains, and sculptures that leave a lasting impression on passer-byers. If you’re on a budget, even a few wind chimes or home-made wheel planter can do their part to improve your house’s curb appeal.
7. Doll up your windows
Unless your windows are already gorgeous and just need a good cleaning, consider investing in attractive shutters made of materials that complement the rest of your house These days exterior shutters can be made of anything from vinyl and wood to aluminum, fiberglass, and wood. You’d be surprised by how much your home’s curb appeal goes up thanks to beautiful windows.
8. Replace (or touch up) anything else that looks old
At the end of the day, it may just be an old gutter system or exterior walls in serious need of repainting that’s dragging down your property’s curb appeal. Cracked walkways, time-worn fences, and even a rusty door knocker are all things you should look out for. Instead of adding to the front of your porch, sometimes all it takes is revamping the old to significantly improve your home’s look.
Source: Dream Casa
backyard • Pools • real estate • Spring • summer •
May 23, 2017
How To Open Your Pool
With the hot days of the season upon us, its time to dive in! First things first…here is a helpful how to list on opening your pool.
Spring is in full bloom and this can mean a lot of things for many different people. For example, if you own a pool you’re surely thinking (probably dreading) about opening it for the season. There is nothing like watching all your loved ones enjoying its crisp coolness but they don’t know how much work goes into getting it ready. I am here to bring optimism to the equation and tell you that opening your pool doesn’t have to be as horrible as you anticipate.
I came across this great article from Popular Mechanics that will definitely help guide you in your efforts. I’ve highlighted a couple of steps below.
1) Don’t Empty Your Pool
According to the article, you should never have to completely empty your pool of the water that had been sitting from the past season. Exceptions to this include if you neglected to cover it or if you need to do any actual construction work to it. Why you ask? Apparently, if you remove all of the water you could run the risk of your pool lifting since it doesn’t have the weight of the water to hold it down. What that ultimately might result in is you needed to replace the whole thing.
2) Cleaning Your Pool and Water
The most basic way to start cleaning your pool and its water is by buying a chemical opening kit, or by shocking it. Then, change all the filtration systems and clear all of the baskets. You should also take this time to remove any plugs you may have put in place last year. During this step you should still have your pool cover on.
3) Refilling Your Pool
If your pool is running low on water, feel free to top it off at this time. However, this should only be done after you have replaced your filters. Once your pool is filled to the desired amount, you can take a sample to your local pool store where they will test it for you. Some places do it for free, but if not, don’t skip this step because it is super important to make sure your water is swim ready otherwise it could be dangerous.
4) Get Ready for Fun in the Sun
Your pool’s filter should be cleaned daily until the water appears clear. A ready pool means that you can see the bottom without any issues. You may need to continuously add chlorine to help you reach the perfect balance.
5) Dive In
Once the water is completely clear and all of the water levels are good you can take off the cover. Taking it off any sooner may prove counterproductive as debris may disrupt your process. Once you’ve gotten to this point, invite the neighborhood (well maybe not the whole neighborhood) and enjoy your summer!
Its that time again! Hot summer days are upon us and its time to dive in! First things first though…time to open that pool up!
The sun is shining and the swimming pool season is about to kick off. Here is a guide to help you open your pool for the season.
Spring is in full bloom and this can mean a lot of things for many different people. For example, if you own a pool you’re surely thinking (probably dreading) about opening it for the season. There is nothing like watching all your loved ones enjoying its crisp coolness but they don’t know how much work goes into getting it ready. I am here to bring optimism to the equation and tell you that opening your pool doesn’t have to be as horrible as you anticipate. I came across this great article from Popular Mechanics that will definitely help guide you in your efforts. I’ve highlighted a couple of steps below.
1) Don’t Empty Your Pool
According to the article, you should never have to completely empty your pool of the water that had been sitting from the past season. Exceptions to this include if you neglected to cover it or if you need to do any actual construction work to it. Why you ask? Apparently, if you remove all of the water you could run the risk of your pool lifting since it doesn’t have the weight of the water to hold it down. What that ultimately might result in is you needed to replace the whole thing.
2) Cleaning Your Pool and Water
The most basic way to start cleaning your pool and its water is by buying a chemical opening kit, or by shocking it. Then, change all the filtration systems and clear all of the baskets. You should also take this time to remove any plugs you may have put in place last year. During this step you should still have your pool cover on.
3) Refilling Your Pool
If your pool is running low on water, feel free to top it off at this time. However, this should only be done after you have replaced your filters. Once your pool is filled to the desired amount, you can take a sample to your local pool store where they will test it for you. Some places do it for free, but if not, don’t skip this step because it is super important to make sure your water is swim ready otherwise it could be dangerous.
4) Get Ready for Fun in the Sun
Your pool’s filter should be cleaned daily until the water appears clear. A ready pool means that you can see the bottom without any issues. You may need to continuously add chlorine to help you reach the perfect balance.
5) Dive In
Once the water is completely clear and all of the water levels are good you can take off the cover. Taking it off any sooner may prove counterproductive as debris may disrupt your process. Once you’ve gotten to this point, invite the neighborhood (well maybe not the whole neighborhood) and enjoy your summer!
babies • backyard • buying • commute • first time buyers • kitchens • neighbors • parent • real estate • schools • shopping • Smart Homes •
May 23, 2017
9 Questions To Ask When Searching For A Family Home
These are serious questions you need to ask when purchasing a home, especially if you are a first time homebuyer!
Here’s how to find a house your growing family will love for years to come.
Unless you’re planning on doing your own version of Fixer Upper, the general home-buying rule of thumb is to look for a place you’ll be able to live in for five years or more. So if you have kids (or are about to), you’ll need to look not just at the number of bedrooms and bathrooms, but also consider how a house will work for a crawling baby, curious toddler, rambunctious preschooler and beyond not to mention multiple children, if that’s your plan. Talk to your Coldwell Banker Real Estate professional about your needs and ask these nine questions to help you narrow in on the perfect home for your growing family.
1. Are the neighbors close in age? One of the greatest benefits of buying a home is getting to know your neighbors and having a true sense of community. But while neighbors of any age may be lovely people, having other young families on the block will go a long way toward creating a kid-friendly environment. (Think: company at the future bus stop, community activities like organized trick-or-treating and safety features like a slower speed limit.)
2. Is there ample outdoor space? It’s easy to overlook the yard if you’re childless or baby is still in diapers, but having an outdoor area that’s safe for supervised play is a major win. It’s important to consider the flip side, though at the time and cost of maintaining and make sure you’re up for the task. If not, look for a home with less outdoor space, like a condominium or townhouse, that’s within walking distance of a playground or park. (Not sure what the difference is between a condo and townhouse? Coldwell Banker Real Estate explains that here.) A house with a smaller yard on a quiet street or cul-de-sac could also be a good choice, since you might be able to use the street as an extension of your front yard.
3. How are the schools? Your first instinct may be to look into the quality of the public school district and you definitely should! but if your kids are preschool age or younger, don’t forget to research nanny and day care options in the area. Once you’ve checked those boxes, find out about school transportation (not all homes qualify for bus service), including where the bus stop is, or what the walking path and/or driving route will be.
4. Is it equipped with Smart Home technology? It wasn’t long ago that having network-connected products to control entertainment, security, temperature, lighting and safety seemed out of reach, except for in the most high-end houses. But these smart home features have quickly gone mainstream as they’ve become more affordable and easy to set up in existing houses. They’re particularly great for families with young children having the ability to control night-lights, lighting and window treatments from your phone can help make naptime easier, for example. Consider which features are most important to you, and search for Coldwell Banker Real Estate listings that are classified as smart homes.
5. Is the kitchen large enough to accommodate the entire family? It’s often said the kitchen is the heart of the home, and for good reason. After all, you’ll be spending countless hours there over the years, whether you’re cooking and baking together, grabbing quick bowls of cereal in the morning, or working on school projects. A kitchen with an eat-in dining area, an island/peninsula for bar stools, or even a desk area for homework time will give you plenty of room to do all of the above (sometimes simultaneously).
6. Is there a separate room for playtime? Yes, an open floor plan makes it easier to keep an eye on kids while you’re in the kitchen, but a designated playroom off the living room or a finished basement can be a sanity-saver. You’ll still probably end up stepping on Legos, but having a dedicated room to store all those toys can help you keep the mess under control (or at least hide it).
7. Is there a convenient entrance with storage? Kids of every age come with a whole lot of gear from strollers and diaper bags during the baby stage to sports equipment when they get a little older. That’s why a mudroom or a large laundry room is ideal bonus points if it has its own outside entrance so older kids can drop off their stuff on the way in. If not, a foyer with storage space is a good alternative.
8. How’s the commute to work? Even the most perfect house isn’t perfect if you spend so much time getting to and from work you can’t help your kids get ready for school or see them before bedtime. Do a test run from any potential house to your workplace during rush hour, whether you plan to drive, bike, or take public transportation.
9. Are there shops nearby? No matter how good you are at stocking your pantry and medicine cabinet, it’s inevitable that at some point, you’ll run out of diapers at the worst possible time or need to pick up medicine if baby spikes a fever. Having a grocery store or pharmacy a short drive or walk away will save you time and stress especially if it’s open late.
Source: CB Blue Matter / The Bump
