FEMA link for area flood maps

With much of the country falling within a flood hazard area there is a resource available to help you determine the zone of a location.

FEMA offers a link on their website that you can enter the full address or general location to view the flood map.

https://msc.fema.gov/portal/search#searchresultsanchor

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This tool can be very useful if you taking a mortgage because the lender will require a flood insurance policy for hazard areas. It can also assist you in getting a quote for an insurance policy if one is necessary.

Happy home shopping….hoping this helps it stay easy…

Tapping into your home equity….💰

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The market is recovering and as home values continue to go up you may find another resource to tap into for financial needs that may arise.

Sometimes referred to as a “second mortgage”, “equity line”, “home equity line of credit” or advertised as a HELOC your home is an account that you can tap into.

There are a variety of terms offered by different financial institutions so I always suggest shopping around. The amount of equity you will be allowed to borrow has many variables decided upon by the lender considering your ability to repay.

Here’s how they work…The equity in your home is the amount of money you have between the value and the amount you may own.

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HELOC’s offer great convenience because the interest rate is typically lower than that of a credit card and you are not required to use the full amount approved for at the time of signing an agreement. A second mortgage is for a specific amount drawn at one time and set up on an amortization schedule, so they are two different products.

An example of a good use for an equity line would be to do small repair or improvement to your property. You can simply write a check for the service and repay according to the terms of your line.

An example of a good use for a second mortgage may be to do a large home improvement such as a room addition or a purchase of an adjoining property. These loans are set up with principal and interest payments, a specific schedule of repayment without t as much flexibility as equity lines.

It is important to know that these loans will have to be paid off when you sell your home, because you are pledging the property as security.

I have often heard from home sellers who review a purchaser offer that they will not receive enough money at the sale due to the pay off of a primary mortgage and the equity line or second mortgage. If you find yourself in that situation you have to keep in mind that you even if you feel like you are selling at a loss you are not because you already received that money. It’s best to track your homes value to keep yourself in a positive equity state at all times. Here is one the many links online to get an idea of your value: https://www.lendingtree.com/homevalue#/HomeValue

Also, it’s been surprising to me that some home sellers do not realize that the line of credit was a lien on their property. With that being said it would be wise to understand the terms in full before signing any agreement, also ask about any penalties that can occur when you close them out.

Homeownership offers more than just a cozy place to hang your hat :)get a

Recent tax law change take away the interest deduction for home equity lines: for more information on this and mortgage interest in general: https://www.forbes.com/sites/timtodd/2017/12/28/the-modified-home-mortgage-interest-deduction/#668ee0c06acf

Bring home the colors of the sea, sands and sunsets

Folks in the Southeast USA get more than enough sunshine and vitamin D to keep their spirits high. But even on a gloomy day you grab a can of cashews to increase your serotonin, and take a drive into one of the coastal communities and you will feel upbeat in no time at all. Adding color to a house adds great curb appeal, personality and above all makes it a home. A choice of paint color is not an impulsive move but more thought out like someone getting dressed to impress…..

Tip for travelers: If your on the I95, Georgia, South Carolina and Florida all have unique coastal communities worth circling on your map for a scheduled stop.

Holly Jolly homes

The holiday season along with the winter chill is typically not the most popular time to list your home for sale. For those that decide whether by choice or urgency to be on the market there are some upsides to this.

You will have the advantage of low inventory which results in less competitive listings
Buyers that shop during this time are as serious about buying as you are about selling, they may have a home they sold or are relocating to your area
You can show off the personality of the home with glittering lights and the soothing scents of the season
You can make your visitors feel right “at home” softly playing merry music
Tasteful decorations can be as good as staging

So…….Ho Ho Ho….and if you get nifty wrap your home in a bow

Happy home selling 🙂 ⛄️🎄

Canopy of Oaks

This long drive sets the tone for a relaxing atmosphere and very impressive “curb appeal”

Understanding fixtures and personal property in a real estate sale

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That perfect light fixture set off just the look you were aiming for when you when redecorated your living room. As you are getting your home ready for the market you become reluctant to pack it up even though you have no plans of leaving it.

Now you are torn between the “staging effect” it can have on a buyer and the possibility of the light fixture becoming a negotiable item even though you state in your owners disclosure that it is not remaining and will be replaced with another fixture of the buyers choice within a stated allowance.

My suggestion is to remove it, because it may become the one item that tipped a buyer in your favor, and chances are they would have still offered to buy your home without it because the most important things like size, price and location are what they are really shopping for. Once a buyer sees it and likes it they will want it.

A stand alone lamp in the same room would be considered personal property but since the overhead light is attached by permanent wires it is considered a fixture and the buyer may assume it is included.

Both buyers and sellers alike overlook items and get surprised at a final walk though when they discover something must stay or go. Some of the most common items I have re-negotiated at a final hour of closing the sale are:

Light fixtures
Mailboxes
Flowers and trees
Flower pots
Garden trellises
Fireplace mantles
Appliances
Portable appliances such as a water softeners, floor heaters , window unit air conditioner, humidifiers
Room size area rugs
Shelving units and bookcases that stand alone
Decorative light switch plates
Window treatments (blinds may stay but the curtains are removed)
Decorative faucets
Lawn ornaments
Window flower boxes
Garden hoses
Outdoor buildings (sheds)
Security systems (the owner may be obligated to a lease)

The easy solution to avoid these misunderstandings is a careful review of the checklist on a owners disclosure statement regarding the items remaining with a home. Also, a review of any exclusions on the Real Estate agents listing sheet, and always address any item of question in the purchase and sale agreement. If there is an item of personal property that works well with a home a buyer can always ask for it or purchase it from the owner and note it on a personal property agreement.

Happy home buying and selling…:)

photo compliments of :https://pixabay.com/en/users/ChellyRika-3711680/

NAR presents 2018 housing forecast

Post-hurricane jobs numbers not as strong as expected The October jobs report is in, and the numbers are a mixed bag. The U.S. economy added 261,000 nonfarm payroll jobs in October, according to the U.S. Bureau of Labor Statistics. A hiring rebound at restaurants and bars impacted by recent hurricanes helped boost numbers. However, October’s jobs…

via Wages not rising as fast as home prices; NAR presents 2018 housing forecast — Mortgage Rates, Mortgage News and Strategy : The Mortgage Reports

Not so scary haunted homes

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Most people enjoy a frightening fireside story about a haunted house. Stretch your imagination a bit let’s talk about the friendly ghost in a home that occupants typically learn to live with and accept their presence.

Yes, they can be disruptive walking around the house at night turning on lights or opening doors and cabinets but other than that most folks get used to having them around.

Some people say that they follow a family if they move, others say they act up when a new family moves in just to claim their spot.

Whatever your ghost story, take it as a compliment because if you were not a “good spirit” they would not want to be there with you.

Happy Halloween, stay kind you never know who might pop in for a visit.

For more information on the most Haunted homes in America: http://www.hgtv.com/design/make-and-celebrate/holidays/americas-scariest-homes-real-life-haunted-houses-pictures

photo compliments of: https://pixabay.com/en/halloween-haunted-house-ghosts-149222/

Life is good on the farm

farm house

Old homes are such a treat to tour. It’s just so cool to see how folks managed without all the modern improvements. If I lived here the porch just might be my favorite place, especially in the rain with the pitter patter of a good southern rain storm.

For sale or On sale

A good time to buy and a good time to sell

The first thing that came to my mind when I read a post by a local real estate agent on social media saying that we were in a “hot market”, was to take my sign down. I still had a lot of packing to do. Downsizing could take a while and I can not get out that quick. Real estate markets vary by location and are driven mostly by economic factors in an area that influences supply and demand. market

Here are my tips to make it easy for you to know how your area is performing and if it is the right time for you to buy or sell.

Hot market

Real estate agents in your area have ready, willing and able buyers just waiting for a new listing to hit the MLS, due to very low inventory
The list price is generally the starting price and buyers bid up
Quick closings, as buyers are mortgage ready or have cash, closing within 30 days
Buyers are scouting the neighborhood and when your sign goes up they leave a note on your door with an offer
Your agent will hold a “public open house” and state a time and date that you are open to review offers
Buyers will make an offer without coming into town or viewing the home

Seller’s market

Homes sell at list price
Prices are stable or increasing
Buyer incentives paid by the seller are added onto the list price
Seller offers few repairs only if necessary to obtain financing and may ask the buyer for a contribution
Low inventory
Start of the selling season, defined by your local area trends
Average days on the market are less than 60

Buyers market

Prices decreasing in an area
Average days on the market are more than 60
Sellers are advertising price reductions
Sellers are offering buyer incentives such as loan closing fees without increasing the price
Sellers are offering other incentives such as new appliances, repairs, and cosmetic updates
Homes are on the market at the end of a selling season, like late fall or the beginning of a school year depending on your area trends

Working with a real estate professional and having a market analysis prepared for the area you are planning to buy or sell will easily give you this information.

Happy home buying and selling 🙂 It’s a piece of cake

Alice