Category Archives: Real Estate

Getting a Mortgage and a Home the Right Way: Pitfalls to Avoid

House for saleBuying your first house involves thorough research and an informed decision. This doesn’t need to be hard though, because you can get help from mortgage apps and agents that will do the technical stuff for you, such as looking for the best rates possible. What you need to do is know the pitfalls related to buying a house with a mortgage.

Here are some examples:

Spending Beyond Your Limit or Capability

reputable mortgage company in Lake Oswego, Oregon explains that first-time home buyers shouldn’t spend beyond the limit of their finances. Doing so would put you at risk of running out of funds for other important matters. For example, if you spend too much on the house that you’re about to buy, you’d have problems paying for furniture, utilities, and the construction team.

Compromising on Location

Another pitfall of home-buying is compromising on location. This happens when you choose a home because it has some appeals like affordable rates, but also has some drawbacks like lack of basic amenities. In such scenarios, mortgage apps and real estate agents can help you determine if a property is worth buying.

Making Snap Decisions

Lastly, making decisions based on a whim is a no-no in buying a house. Make sure the surface features won’t sway you into choosing a property. You need to make sure it’s in a community with complete features, such as health and security services. Weigh your options and see how you can benefit from each of them. Ask for help if you’re having a hard time deciding.

First-time homebuyers should understand the processes involved. These include applying for a mortgage or hiring a real estate agent. Once you know what to do, you’ll surely avoid the pitfalls in home buying.

Selling House As-Is: What to Do to Sell it Fast?

Key with House Keychain

Key with House KeychainDue to unexpected circumstances, many people often find themselves in a situation where they need to sell their house as-is. It could be because they need immediately relocating somewhere else or can no longer afford the cost of making improvements on it or whatever personal reasons they might have.

Admittedly, it can be difficult to find a buyer for your home. That’s why home sellers bite at any opportunity they could get to fasten the process. The good thing is they could do something to make their property look more attractive to investors and buyers. To learn a few techniques, check this list:

Clean and Tidy Up the Place

Avoid leaving any traces of your style and personal belongings in the house. It’ll be harder for buyers to imagine themselves in the property if they see some personal items in it. Clean it up and put things back in order, this simple gesture could certainly affect the way people will view your home.

Seek Help from Real Estate Agent

Reach out to a trustworthy real estate agent in your area. They know how the market works and could assist you in attracting potential buyers for your property. In addition, as Homestead Road explains, they can provide advice and tips on how you could successfully sell your house as is fast. Most of you may choose to have your property be listed on MLS (Multiple Listing Service), but it may take longer and the price may be lower. Better to consider everything carefully.

Get the Right Price for Your House

To make your house even more enticing to homebuyers, it’s critical to give the right price. Consider the amount they will need to renovate and make the whole place look new again. Along with this, it’s important that you look at your competition, as this will affect the market value of property in your area.

Pay Attention to Curb Appeal

The outside is the first thing buyers would see upon visiting your place. To create a good and lasting impression, improving the look of your garden and exteriors can make a big difference. If you have a lawn, ensure that they’re trimmed and there are no overgrown plants, as people would often assume it to be messy. Invest in some basic paint job to make your home look more attractive, as well.

Whether or not you’re selling your home in a rush, these steps will certainly make your property look more appealing to buyers. The most important thing you must do when selling your home is to highlight the good features so that people would focus more on these things. This way, you’re sure that your home will be sold in no time.

Get The Best Value For Your Money When Buying A Home

Piggy bank and coinsMany people rush through the decision to buy a home, and it leads them to make a myriad of mistakes that lead them to incur hefty losses. Carefully considering all the crucial factors can save you a lot of money.

Rash decisions when buying a home can lead you down a slippery slope that puts your finances in jeopardy. Such mistakes happen because most people have limited access to information. Rather than feel in the dark, you are better off looking for a credible source of information.

For instance, if looking to buy a property in Cavite, the Lancaster New City reviews on Real Estate Hub can be of great help. Not only does it inform you of the pricing range but honest buyer feedbacks as well. Here are some more insights to help you get the best value for your money.

Pick the best amortization plan

While a 30-year plan might seem appealing, it carries a hefty price tag in the end. While the monthly payments might look affordable, you will pay a fortune in interest. Typically, you’ll pay about twice as much in interest on a 30-year mortgage as you would on a 15-year one. Ideally, you’re better off with a shorter loan than a long one.

If you can’t pay off the home loan in about 15 years, you are committing to a house that is out of your price range. Instead of burdening your finances for many decades, consider getting a smaller house.

Consider your lifestyle

Never rush to seal the deal on a new home despite the how attractive the deal looks. Doing so only sets you up for disappointment in the end. Janice was a busy business executive who rushed to buy a cozy little townhouse to escape skyrocketing rent on her condo. In every aspect, the house was beautiful, and she was pleased with it.

It wasn’t until she moved in with her three teenage daughters that the trouble began. The house had only one and a half bathrooms. Instead of having peaceful mornings, there were chaos and bedlams as everyone clamored to get ready for school and work. After a few months, Janice had to sell the house, incurring hefty losses in the process.

Rushing through the decisions to buy a home can be a great undoing. Taking a moment to weigh all the options ensures that you get the best value for your money.

3 Types of FHA-insured Loans

FHA loan form

FHA loan formThe Federal Housing Administration (FHA) has insured certain types of loan – a beneficial arrangement for both loan candidates and lenders of FHA loans.

For loan candidates, applying for FHA-insured loans increases their chances of approval, considering that, by default, these loans have less demanding requirements. For an FHA loan lender, on the other hand, it means the company can sign away deals without having to worry about bad debtors. It’s a win-win situation.

If you are considering FHA-insured loans, you may want to start with these three.

FHA 203k Loan

This type of loan is available to prospective homebuyers looking into purchasing a fixer-upper that would require a considerable amount for renovation. Instead of applying for multiple loans to cover both the house’s market price and its renovation costs, the FHA 203k loan allows an inclusive program. Limited 203k loans are also obtainable by homeowners in need of funding for specific home renovation projects.

FHA Loan for First-time Homebuyers

The subprime meltdown affected many first-time homebuyers, making it difficult for them to access mortgage plans. An FHA loan became their best bet. If you are a first-time homebuyer, this loan will be convenient for you. Compared to other mortgage plans, FHA-insured loans are more lenient. As long as you can provide an acceptable explanation for your less-than-stellar credit score or a previous bankruptcy, you will not be dismissed instantly as financially delinquent and will have equal chances for loan approval.

Home Equity Conversion Mortgage (HECM)

HECM is the government’s answer to reverse mortgage. It is offered to seniors (62 years above) in need of cash assistance. The amount that you can qualify for will depend on your home’s appraised value.

Applying for loans backed by the FHA should give you more confidence. After all, the government has your back with these mortgage plans. This goes without saying that financial duties are called duties for a reason, and that reason should be self-explanatory.

Questions You Should Ask Before Choosing an Estate Agent

Key to a new homeLooking for an estate agent when you want to buy or sell a property can be stressful. But if you want to save time, you could ask recommendations from friends and family, as some of them might be able to point you in the right direction. Once you make a final list of your chosen estate agents in Penge, make sure to ask them the questions that we have listed below to see if they are the right fit for the job or not.

How much do I have to pay?

An estate agent usually charges between 1 and 2.5 percent of the price and VAT. Many agencies exclude VAT rates depending on the type of contract you sign with the estate agent.
The total fees also depend on the estimated value of your property so estate agents would accept less than one percent for houses with a higher value, such as those priced £500,000 and above.

 What is their marketing process?

 Estate agents should list your house in the most popular property portals, as well as local newspapers. Doing so will ensure that your property will attract the right market.
If you are buying property, check their online offers. Look for properties that are near your area or are similar to yours so you could gauge the price.

Should you consider an online estate agent?

Online estate agents do not charge as much as conventional agents, but they have various packages which they offer their clients. Most often, they ask a flat fee of £300 but offer payment upon completion of the sale. An agreement like this would usually cost you more.
Ask about their special approaches when it comes to selling or buying a home. Most agents have some tricks up their sleeve, and knowing them can help you determine if they can help you find the property of your dreams.

Land Development: Why You Need to Do Things Differently in 2018

Property Management displayed on a tabletLand and property management or development is not an easy task, particularly when you have no expertise in the field. You may have blundered before, but not anymore.

Cato Bolam Consultants notes that planning consultants could be your reliable ally.

Who are they?

Planning consultants are certified personnel who offer advice and perform a wide range of activities, including statutory planning, land subdivision, resource management, land development and engineering.

How can they help in your land development project?

Sometimes, you may not be sure of what to do with your land. You may have a project in mind, but are you sure that it is the best? The experts are visionary and tend to see the property in its developed form. Therefore, their primary role is to explain the complete process of land development to the landowner or the developer. They also guide the developers on how the development plans can be implemented.

Execution of Legal Formalities

The consultants are experienced, so they know the legal matters associated with property development. They can save you the hustle of submitting or resubmitting the planning applications since they do it on your behalf.

Help in the Market Value

Depending on what they find suitable for the project, the consultants do some research on the market value of the project. Moreover, they conduct feasibility studies for the development.

Why Timely Involvement is Important

You need to involve the planners in the initial stage of the land development process. Early involvement prevents any extra costs due to faults in the planning and development process.

What Else?

The planner or consultant is central to every correspondence with the council. For instance, they can respond to the council’s requests and objections if any. They guide the developers on how to make drafts and rectification to meet the council’s requirements.

There is no easy way to develop your land than hiring expert planners or consultants. This will help you get the most of your property and enjoy all the benefits.

Enjoy a Stress and Pain-Free Homeownership When Buying Your First House

Couple outside homeOwning the roof over your family’s head is a great source of pride for many American homeowners. In fact, the average American lists their home as their single most valuable asset, for good reason. A decent home can set you back a couple of hundred of thousands of dollars.

Given the kingly asking prices, you may have to take out a mortgage to finance this dream. With the average monthly payment mortgage running northwards of $1,000 the last thing you need is additional bills in your mail.

Unfortunately, many first-time homeowners make crucial mistakes that bury them in debt.

Don’t buy a home in a rush

At the back of your mind, you have a picture of what comprises a dream home. This can help you breeze through the decision-making process, but it can also be your undoing. It may cause you to overlook crucial steps if you chance upon your perfect home on the market.

In such a case, you may overlook vital issues such as inspection, leading to considerable headaches later. For instance, the foundation, walls, floors, and the roof might be in great shape, but the heating system might be on its deathbed.

Once you sign the paperwork on such a house, the onus of replacing the unit lies on you.

Do seek expert advice before you commit

Involving an HVAC company when buying a home might seem a little strange, but it’s one the best decisions you can make. Considering that installing a new central heating system can easily set you back upwards of $10,000, the idea is not as wild.

In addition to providing heating repair services here in Salt Lake City, HVAC firms are amenable to providing advisory services. Retaining the services of professional is crucial when buying some old house as most central heating units have a lifespan of about 20 years.

Involving an HVAC company when buying your first home is a silver bullet that can save you a considerable amount of money and pain.

What You Ought to Know Before Selling Your House to an Investor

sold propertyIf you want to sell your house fast in St. Louis, Houston, Salt Lake City, or any major American city, a flipper is perhaps your best option. Klamengroup.com will agree.

Whether you want to turn your fixer-upper into instant dollars or avoid foreclosure, dealing with an investor is better than waiting for the most generous homebuyer to come along. By and large, flippers are willing to buy properties in “as is” condition, pay cold cash, and close within seven days.

But before you take this route, pay attention to the realities of selling to a real estate investor:

1. Sweat equity might not matter.

Investors spare sellers the ordeal of home improvement because they generally want to make the renovations themselves. This means any project you intentionally do to make your property seem more expensive might not give you any leverage at the negotiating table. The improvements you intend to make might not be consistent with the changes the flipper has in mind.

2. Sale price might be below the market value.

If you’re dealing with an investor, make peace with the strong possibility that you wouldn’t be paid based on your property’s actual market value. Flippers do business to generate profit, which is why they try to keep their expenses to a minimum. Plus, they have their own costs to worry about as well.

3. The flipper could be a con artist.

Any financial transaction comes with risks, but selling your biggest asset requires extraordinary caution. Even if you want to close the sale as soon as possible, don’t rush into things. Since investors don’t need a license to do business, exercise due diligence to ensure your prospective buyer isn’t a fraud.

Fortunately, reputable real estate investors are searchable. They might be accredited by the Better Business Bureau, and have past clients who can attest to the legitimacy of their business.

Flippers provide a unique set of benefits for house sellers who don’t have the time to wait to see the traditional real estate process through. Make sure, however, to be aware of the little things you have to give up and calculate the risks to set your expectations and avoid rip-offs.

Home Safety: How to Keep Intruders Out

Home intruderBeing safe from intruders takes a lifetime of vigilance. You may not be able to stop the most sophisticated criminals from entering your property, but that does not mean you should not try. Most burglaries and other home intrusions are the handiwork of the more common breed of opportunistic crooks.

It is easier to stop the type from causing you any problems. Here are some suggestions on how to do it.

Lock your doors and windows

Many home intrusions are preventable. All it takes is to make sure you lock your doors and windows. Most opportunistic burglars come in through the front or back door, grab what they can, and leave undetected. Simply locking those doors can make them change their mind.

Install CCTV cameras

Cameras themselves are deterrents against the most common intruders, so install them where they are hard to reach but easy to spot. If anything happens, the recorded footage may help authorities find the suspect or suspects.

Use a garage remote

You can have your garage doors in Chicago fitted with a remote controller so you do not have to get out of your vehicle to open or close the garage. Many cases of carjacking happen when the owner gets out attending to the garage door.

Especially if you are coming home at night, or when it is raining, or both, you may not be able to spot someone hiding in the bushes, waiting for the chance to take your car from you or worse.

Install lighting around your property

Lights are not a crook’s best friend. Common thieves are likely to avoid making your house a “mark” if there are no dark corners to hide in. Remove trees that block your view, or at least trim them and install lights near them.

Install motion sensors

Motion sensors are more sophisticated now; they are less likely to be activated by your dog. Install them outdoors as well as indoors. Having motion detectors on your lawn can alert you even before the intruder gets inside your house.

Lastly, when it comes to safety, always use your noggin. You can prevent many crimes with a little common sense.

4 Reasons Why Metal Fencing is Best for Your Home

Metal fenceProtection is the key benefit of metal fencing. The use of metal fences can help secure your pets and belongings while protecting your home from possible criminals. Metal fences are also a durable and environmentally-safe option to guard and redecorate your home.

Safe and Protected Home

The first benefit of having a metal fence is security. Fencing can help deter criminals and trespassers, through its tall and narrow point. Moreover, fences can be tied with electronic gates and installed with security systems like alarms or codes. Fences could prevent offenders from coming in while keeping your pets and valuables from coming out.

Beautiful Design

Many types of metal fence panels are available to complement the exterior of your house. Fences can make your house look modern, sleek, and elegant depending on the type you choose. Moreover, well-crafted fences can also increase the value of the property if you wish to sell it in the future.

Durability

Metal fences are durable and will last under harsh weather conditions. Compared to wooden fences, metal fences are free from pest infestation and stains. It also needs low maintenance costs due to its lasting gleam and timeless look.

Recyclability

Lastly, metal fences are highly recyclable. Steel and aluminum are commonly used, so metal fences are reusable in case you wish to dispose of or replace them. This way, you can help save the environment.

Protection is the key benefit of metal fencing. The use of metal fences can help secure your pets and belongings while protecting your home from possible criminals. Metal fences are also a durable and environmentally-safe option to guard and redecorating your home.