Homeowners who are looking into putting their houses on the market usually concern themselves with sprucing up the inside. Although it is a very good idea since clean interiors, fresh paint, and well-maintained kitchens and bathrooms are some of the primary concerns of home buyers, the outside should get the same amount of attention. Sellers should never lose sight of the fact that the first impression will be given by the exteriors.
Home exteriors should do its part in convincing buyers to look inside and better appreciate the wholeness of the house. Landscaping can give a home the needed edge to rise above other houses for sale. It is an investment that should be considered given the fact that it can provide a 100% to 200% return on investment when the time to sell comes. It goes without saying that this advantage is provided only by well-maintained gardens and frontage. Anything less will not equate to such expected returns.
House selling is all about presentation. Failure to present a home in the best light can result to a much lower resale price than expected. This is the reason why renovations, improvements, and additions are done before putting the house up for sale, and not during, when prospective buyers are pointing to the house’s visible liabilities. Amply preparing the house for selling minimizes the need to be defensive with regards to the condition of the house.
House buyers have so much choices today that it makes sense to improve one’s home without too much cost. Landscaping, especially if properly maintained from the very start can provide more value at less cost. Planning the layout is a must if homeowners do not wish to end up with a chaotic garden or backyard. It will be necessary to set the borders and garden beds first before planting. Saplings and trees can be obtained from a local nursery to ensure that the plants chosen will thrive in the area. The main goal of landscaping is to present such a visual delight that many buyers can already imagine themselves living in the offered homes.
Home financing is a means of obtaining your desired house when current resources cannot facilitate outright cash outlay. Financing allows consumers to enjoy owning a house while making regular payments for a specified period of time. This privilege comes with a condition that interest is paid usually as regular payments are being made. The arrangement makes sense for both the lender and the borrower since each accomplishes their specific purpose in the transaction.
There are different ways to go about it. Home Equity Financing is one. In-house Financing is another while Owner Financing is another but a remote option and of course, there is the traditional home loan. A Home Equity Loan uses a home’s equity as collateral and is quite similar to a traditional home loan. A specified amount is borrowed which is to be paid in monthly installments including the interest. Home equity lines of credit is an entirely different arrangement even if it also involves using home equity as collateral. Lines of credit function more like a credit card which provides for a revolving balance instead of a lump sum amount provided in loans.
In-house Financing is an option open to borrowers who may have less than perfect credit ratings. We are all familiar with the rigid requirements presented by banks and other financial institutions which may make it impossible to obtain a loan. Real estate developers usually provide this option to enable them to close more deals.
Owner financing is not a popular option among sellers because it requires them to pay off the existing mortgage as well as the obvious preference for up-front cash. Some owners may offer this option because of the higher interest they are paid and their right to foreclosure. On the borrower’s side, they can use this option as a temporary arrangement while they are working to obtain a regular loan from a bank.
After the United States Housing Bubble that affected the housing market extensively when it finally burst in 2007, the real estate industry has yet to fully recover from the debacle. At best, its movement is characterized by isolated bounces at the bottom rung of its performance level. This is in spite of several efforts both from the government and private sectors to spark activity and recovery in an industry that directly affects many people.
The problem which was believed to have been caused by a combination of factors such as the relaxed housing tax policy, heavy promotion that led to a speculative fever for home ownership, and the mortgage interest rates that were hardly fixed had a direct impact on homeowners, business owners related to home supply, home builders, as well as mortgage markets and real estate developers. Because of the widespread effect of the problem, the government specifically has been trying to infuse energy into this flat-lining industry. This is not surprising since a home represents the major symbol of wealth for many Americans.
The Emerging Trends in Real Estate has noted sporadic growth in select real estate markets. It sees the biggest potential in properties offering primary 24-hour transporation hubs while offering global access such as apartments, downtown office buildings, and warehouse properties located at prominent ports and gateways, among others. It sees the suburban offices as having the least potential as of now.
It further noted the importance of job creation in ensuring the industry’s sustained recovery. Full recovery may take some time to come as home prices try to seek their real level. Before this time comes, we can use the time to learn where we did go wrong.
If you have recently been laboring over your decision whether to rent or own a house, why not take a breather and consider the rent-to-own option. Shelling out money month after month for rental or entering the commitment of buying a house may be too extreme for some. In the rent-to-own option, tenant-buyers have the chance of building up equity to eventually buy the house within the agreed period.
The arrangement is considered ideal for both the tenant and the owner-seller since the former is given the prerogative to change minds and totaly abandon the option to buy. The owner then gets to keep all money paid for rent while regaining the right to offer the property to other interested tenant-buyers, without further obligation to the previous tenant-buyer. Contracts of this nature will always consist of three parts – the rental agreement, an optional property management agreement, and a third agreement which provides for the property purchase at a set price and date as mutually agreed upon.
Expectations for property damage are lower in the rent-to-own option since the tenants are the possible future owners. It is logical that tenant-buyers will find it in their best interest to ensure the optimal condition of the property. Property owners have found a way to move their property under the prevailing difficult econmic conditions.
Tenants for their part are given a longer time within which to determine the suitability of purchasing a particular property. Of course, buyers must have long-term plans in place which is not possible without any long term job prospects or reasons to stay in a particular place . A rent-to-own contract usually expires between 2-5 years.
If you have been a homeowner for a long time, the chances are that you have gone through at least a couple of mortgages. More often than not, homeowners change mortgages or refinance their homes. This action could be due to a variety of reasons – none of which are relevant to this post. What I want to bring up today is the question of storing mortgage papers.
Of course, it is but natural and sensible to keep copies of t hem in storage. It is utter nonsense to throw papers away that have something to do with your ownership of a house or property. But what if you have had several mortgages over the years? Naturally, the first, second, and even third mortgages may be outdated and not applicable to your current situation. It is only the most recent mortgage – the one that you are actually paying off that matters.
Given this situation, would it be safe to assume that the old papers can be disposed of? Now why would I be asking such a question? Why not just keep all the mortgage papers and records in one safe place in case you might have need of them in the future? That is a good point BUT what if you do not have enough space to store all that junk? Would throwing them out be an option then?
The answer is yes. Once you have paid off the older mortgages (which is normally the case when you refinance or get a new mortgage), then they do not apply anymore. That means that the papers are not good for anything – except for the recycling center, perhaps.
What do you think?
Is there such a thing as a cheap house? Perhaps in relative terms, yes. The chances are you would still have to pay a LOT to buy your own house – these things do not come cheap, really. However, there are some ways by which you can find houses at much lower prices than normal. How?
You can buy from the bank. We all know how the real estate market has suffered a great deal in the past several years. In fact, figures show that the national home median price has dropped to about 26% since the early part of 1996. This spells good news to those who can afford to buy houses. Even better, banks have foreclosed a lot of properties. Technically, the banks own these properties but they cannot really hold on to them. They would rather sell them off and turn the properties into cash – and they do so, at much lower prices.
What you have to do then, is to do research on REOs, or real estate owned properties. The advantages of buying REOs are plenty. Aside from getting a very very huge discount, you do not have to deal with another homeowner. You know how, when we want to sell something off, we tend to try and get as much as we can. When you buy REOs, you do not have to deal with the homeowner and instead go directly to the bank. More so, you get a clean title at the outset!
So why not try and take a look at this option?
Thinking of becoming a realtor? With the current state of the housing markets many are not but for those that are it is vital to follow 9 important rules to become a successful realtor, the following infographic analyses these along with the major duties of a realtor.
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Though moving can prove to be difficult, it does not have to reach the point where you want to kill yourself. If I were you, I would go ahead and find a reputable moving company that I can afford way ahead of time. You might have to part with some of your hard earned money but the convenience of having professionals do the job will certainly save you more in terms of stress. But how do you find the perfect moving company for your needs?
Contrary to what you may be thinking, it is not a very good idea to look for a moving company online. To be honest, I am not very sure about this as I think that the Internet has a lot of good options. According to experts, however, majority of complaints as to moving companies involve those that operate online! If you do not feel like risking it then, I suggest that you check your local directory to find out about moving companies that operate in your area.
What’s the next step? Ask several companies to come visit your house to give you an estimate. They can take a look around and see what stuff they have to pack and move and then give you an idea as to how much it will cost you. If a potential moving company refuses to do this for you, never mind – go find someone else.
Once you have the details for several companies, you can sit down and compare their services and fees. From there, you can make a decision as to which moving company you will deal with. Good luck!
If you are in the process of moving or you are planning to move pretty soon, then you would know how much of hassle it can be. In the previous post, I talked about boxes and how important it is to have lots of them when you move. What else do you need to consider when moving?
One important consideration is to make sure that you have the necessities handy for your first night or so once you get to your new home. Boxes are all well and good but it would be more convenient to have the necessary items within easy access. You wouldn’t want to have to go through different boxes just to get yourself settled in for the night, would you? After a long day of hauling and you stuff, the last thing that you would want is to immediately unpack before going to bed.
Here are some things that you might want to put in separate storage so that you will find them easily once you get to your new house.
Personal items
Make sure you have these for EVERY member of the family. This includes a change of clothes, toiletries such as toothbrushes, towels, and the like. Place these in a handy bag and just take it with you in the car so you don’t have to look for it.
Eating utensils
Get a pack each of paper plates, disposal cups, forks, and the like. No need to open up the box for silverware on your first night.
Handy tools
Screwdrivers and the like should be taken along separately. These would come in handy in case you need to reassemble furniture and other things that you had to take down from the old house.
Moving is something that I do not look forward to. Actually, let me correct myself – on the one hand, I like moving because it presents change. Change is something that I look at in a positive light. On the other hand, moving can be such a hassle. Packing, finding movers, unpacking – just the thought of all the work gives me a headache. It does not have to be that difficult, though. Here are some tried and trusted tips that might just help ease the “pain” of moving.
Of boxes and containers
Do not make the mistake of NOT getting enough boxes and containers. I did this once, because I thought I was merely moving to a unit in the same building. I thought it would be fine NOT to get boxes. That was a big mistake. In the end, I still had to buy some boxes. More than getting enough boxes and containers, however, you should make sure that you get the right kind. The boxes should be made of sturdy materials and should be able to hold the things that you place inside them.
Another thing that you have to remember is that you should get the right packing material. I am talking about peanuts, wrapping, and the like. These are particularly important if you are moving a long distance as you should protect your things from breakage and scratches during the move.
If you want to save on wrapping, you can get old newspapers and used paper. You will not only be saving on money, you’ll also be helping the environment by re-using paper.
(to be continued)
