It's fun to drive through neighborhoods and hunt for houses but if you start looking for homes to buy without knowing what kind of house you really want and need, you could get in trouble. Before you even start looking at homes, whether in your car or online, sit down and make a list of the features that you will need. How may bedrooms? Do you need a two car garage? What schools do you want your kids to go to? Would you prefer a house, a condo or a townhome? Once you've determined these factors, then decide what you WANT. A pool? Two stories? A big backyard? Once you know what you're looking for, your search for a new home will go much easier.
With many homeowners underwater in their own homes, a lot of people seem to be considering simply walking away from their mortgage. Unfortunately, if you're worried about your credit score, this is one of the worst things you can do. Even a single accidental missed payment can knock a big chunk off of your score - especially if you had good credit to begin with.
Slowly, but surely, consumers are starting to come to the realization that it's a good time to buy a home. Inventory is up, prices are down and there are many deals to be had. Unfortunately many of these buyers are taking a do-it-yourself approach to purchasing property and this can be risky. Years ago, if you wanted to buy a house you usually needed to find yourself a real estate agent. Realtors could access the MLS, set up showings and handle all the paperwork and the hassle. Now, thanks to the internet, it's possible to go house hunting from the comfort of your own home. And many buyers, once they've found a home they like, choose to move forward and deal with the seller directly.
It seems like I write an article like this every few months now, but it's still important information. As home prices fall and the inventory of houses on the market continues to grow, it becomes harder and harder to sell a house. It's gotten so bad that many people are even deciding to wait, sometimes choosing to rent out their home instead of selling. I don't blame those people. In fact, I encourage them. This market is a competition - a fierce competition - a contact sport - and anyone who isn't suited up to play should stay home.
It's an age-old scam - con artists drive around after a big disaster, looking the part of professional contractors and looking out for damaged homes. They prey on desperate homeowners, happily taking their money while fully intending to a do a quick and shoddy job on the repairs (if they bother to do any repairs at all). Unfortunately, by the time the homeowners realize that their new contractors are not on the level, it's usually too late. So what should you do to protect yourself from these scammers? Here are some tips.
It's not up, it's not down, it's holding fairly steady. I guess after four years of plummeting, that's definitely an improvement. Home prices in the US hit an all-time high way back in July of 2006. Since then, prices fell sharply and continuously until finally hitting rock bottom in April of last year. The final amount of decline was almost 33 percent! Though the market had a small upswing for a few months last year thanks to the new homebuyers tax credit, it then turned back around and settled into a more stable level slightly up from the April 2009 low.
The market is picking up! With home prices down and inventory up, it's a buyer's market and the buyers are coming out of the woodwork. The tax credit has been bringing in first-time homebuyers and the lowering prices have started bring in retirees again. The Florida market is finally looking up. But unfortunately, with so many new buyers looking to take advantage of current conditions, many people will make simple mistakes that could cost them later. Here are a few of the most common ways to avoid typical home buying mistakes.
Our real estate market has been showing some life signs in recent months but the sun isn't shining brightly yet. There are dark clouds on the horizon that will likely mean more rough times ahead. Many reports indicate that a large amount of foreclosures are about to flood the market and bring prices down again. For various reasons, many properties have not yet reached the foreclosure stage but will be soon. Mortgage services and courts across the country have been overwhelmed and slow to push through the foreclosure process. Meanwhile, many homeowners have fallen behind on their payments due to unemployment and other factors.
One of the biggest causes for the housing bubble (and, later, it's big pop) was the difficulty and complexity of shopping for home mortgages. With so many different fees and rates and penalties and points to compare, the average home buyer had an incredibly difficult time trying to figure out what kind of mortgage was best for them, while many dishonest lenders tried to confuse consumers into more costly options.
Are you thinking of buying a new home and want to find one that is energy efficient and better for the environment? Going green with homes is a big trend right now, thanks to the lower energy costs and the smaller carbon footprint that goes with it. But if you want to find a good green home, you need to know what to ask.
In this shaky housing market, many people are opting to rent the homes they live in instead of buying them while they wait to see how the market goes. It's certainly a good idea to stay cautious about such things. After all, buying a home will be one of the most important financial decisions you will ever make in your life. When it finally does come time to decide whether to continue to rent or buy, it's good the know what the advantages are of owning your own home.
Vegetable and fresh food gardens are the rage this year. With all the focus on green living and organic foods, it's not surprising there is a push towards growing our own food. If you've ever eaten a fresh picked tomato, you'll know that the flavor just doesn't compare with store bought. In fact, most people probably don't realize how good vegetables are supposed to taste.
A lighting scheme also means taking into account sources of natural light as well. While those large sunny windows are perfect during most of the day, there are times when it may need to be more subtle. Consider different types of shades or screens that allow you to enjoy the sun, not be blinded by it.
Are you finding yourself getting the sniffles when it's not allergy season, or feeling as if you're getting the flu when there's nothing going around? Believe it or not, your own home might be making you sick. Whether it's the chemicals in your furniture, hidden mold growing underneath your sink, or something even worse, you may not be as safe and healthy in your own home as you think.
We all know that it's a very difficult time to sell a home right now. The market is filled with inventory and prospects are scarce. Competition is fierce and expectations from buyers are unforgiving. It's perfectly understandable to be feeling a little beaten up and discouraged by this market, but there's one person who shouldn't be showing signs of giving up - your Realtor.
For those who are looking for a low-maintenance lifestyle, or a place in a popular downtown area to call home, condos are a very attractive option when looking for a new home. They can offer many bonuses that you won't find with most houses - plentiful amenities, helpful maintenance, an active and close-knit community. But along with these benefits comes a different lifestyle and new things to consider before you decide to make an offer.
According to the Federal Housing Finance Agency, foreclosures have increased an incredible 150 per cent in the last two years. And with statistics showing that the majority of adjustable rate mortgages that were taken out during the height of the housing bubble will reach their next adjustment period in 2009, those foreclosure numbers may be increasing dramatically over the next year. Because of this, the FHFA has announced a new plan to try to halt the current foreclosure crisis by allowing the modification of loan payments for millions of borrowers.
With the average size of a new home getting smaller, home owners are looking for creative new ways to make the best use of the space they have. Everyone wants to be living in a nice, bright, spacious home. What many home owners don't realize, however, is that square footage is not the only factor when it comes to giving a home a lot of space. In fact, in many homes, the illusion of more space can be far simpler and just as effective as adding on more square footage. Here are a few tips to keep in mind if you're looking to make the most of your space.
It's the oldest and most important rule in investment - buy low, sell high. So with inventory soaring and housing prices dropping, many people out there are wondering when's the best time to buy a new home? Here are a few signs to look out for if you want to know just when the market is about to turn around.
Sometimes I'm surprised at the kinds of things that can kill a home sale. What seems like such a simple issue like "who gets to keep those drapes after the deal closes" can balloon into a big misunderstanding on both sides of the table. Don't assume anything in a real estate deal. Are you selling your family home and you want to make sure you take the drapes that your grandmother put up? Have you been searching forever for the house that has the amazing chandelier in the entrance-way that you've always dreamed about? Whatever it is you want, make sure it is written into the contract.
