Tag Archives: Buying a new home

Tip…US census-a relocation resource

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An abundance of useful information when you are considering or shopping for a new location.

https://www.census.gov/

Shopping for real estate in inclement weather ☔️

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A poor weather forecast may be one of the best times to look at a property that you have an interest in  purchasing.  An abundance of information may be clearly noticed during different types of extreme weather.  During the buying  process knowing these things ahead of time will enable you to budget for issues that may need attention early in your ownership.

Here are some things you can easily discover:

  • Leaks in the roof, chimney, ceiling vents or around the windows
  • Water intrusion in a basement, garage, or enclosed porch areas
  • A sagging roof from the weight of snow
  • Loose roofing shingles during heavy wind
  • Insufficient drainage on the property
  • Air drafts in the fireplace, door and window areas
  • Heating and cooling units not efficiently adjusting the room temperature
  • Slow plumbing drainage
  • Instability of the ground , wash outs
  • Crackling tree limbs with high winds
  • Exterior sloping of driveways and sidewalks that may be difficult to manage with ice and snow

If you are working with a real estate agent ask them what issues are commonly found in the area.  They can help you work through any concerns and ask your home inspector to make suggestions of areas that you can keep an eye on to avoid common problems. You will also be able to make an informative decision on any extra insurance that you may want to carry.

Happy puddle jumping 🙂

 

Finding out what a property is worth

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Sellers of real property and buyers of real property have the common goal of obtaining the best possible price and terms in the transaction.

Here are a few suggestions to help you determine market value if you are thinking of buying or selling real estate.

  1. Appraisal services are offered on a fee basis depending on the complexity of the property.  A small tract of land or a home in a neighborhood contains information from a local Realtor multi list system, tax records, and court records.  An appraiser uses listings currently on the market, recent sold properties, along with adjustments for size and improvements. Photos are included in the report along with comments explaining the reason for adding or subtracting value when using the comparable approach.  For more complex properties such as commercial sales, land developments, farms and multi family properties reports may be quite lengthy and include an analysis of the present and future return on the investment.  Appraisers are licensed by the states they perform services and their opinion of value is very reliable.
  2. A comparative  market analysis is provided by a real estate agent, also know as a CMA. The data offered is pulled from a local Multi list system that the agent is a member of.  The information includes competitive listings,  recent comparable sales to what you are preparing to buy or sell.  Most real estate professionals offer this service at no additional cost to their agency agreement with the client.  It is very reliable for most residential and lot purchases.
  3. Tax assessor records are easily accessible today with most areas offering online services.  Depending on how often records are updated you can get an information for what you are selling or buying.  If recents improvements are noted and the information has been accurately input you can get an idea of where the value may be.  Some assessors sites also show recent sales surrounding the subject properties.
  4. Real estate and mortgage lender internet sites can also be a resource for finding the value of a property.  Depending on the site and how often the information is updated, and the accuracy of the information submitted you may get an idea of the value.

Happy  buying and selling……  🙂

New home, small monthly payments

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Sitting in the stack of presorted mail on my kitchen table is a photo of someones dream home.
The starburst on the front of the postcard is eye catching enough to make me flip it to the back side to read more. There is an attractive description of the features in the home and the location, but what’s missing is how I can get the $795 payment.

Typically, a new home builder will use what I describe as their “door buster” plan with very standard features to keep the price as affordable as possible. Combining that price with the best rate available on a mortgage program offered in their local market place they will make this offer.

In almost all cases this is not the time for a buyer to get excited. There are many variables when obtaining a mortgage such as a credit score, amount of down payment a buyer has to work with, and the amount of time a buyer may need to close all affecting the interest rate for the payment advertised.
Take the time to make the call to ask for the missing terms, since *full disclosure is required they will certainly have all of the information on hand.
New home builders are eager to keep their customers happy in high hope that you will be a referral source by telling your friends and family how satisfied you were during your  home buying experience.

Happy home shopping 🙂

*http://realtormag.realtor.org/sales-and-marketing/feature/article/1996/12/do-your-ads-satisfy-reg-z-patrol