Apartment Frightmares: How You Can Live Happy Again

Want To Move To A New Home? 2 Things To Do Beforehand

Posted by on 9:11 am in Uncategorized | Comments Off on Want To Move To A New Home? 2 Things To Do Beforehand

Have you recently decided you would like to move to a new home? Your family may have outgrown the current one you are living in and are now ready to live in something that is a bit more spacious and comfortable. In that case, there are a few different things you should start doing before you put your home on the market. The simple steps you take can make all the difference when it comes to finding your dream home and making sure to sell the current one at a faster pace. Start Looking at Properties in the Ideal Area Whether you want to move to a new property in the same neighborhood or relocate to an entirely different state, it is never too early to start looking at homes that are on the market. You can start doing the elimination process by focusing solely on properties that have the number of rooms and the amount of space you are looking for, along with any other features that may be of importance to you, such as an in-ground swimming pool or backyard deck. You may have an easier time finding the ideal home for sale after getting in touch with a real estate agent. The agent will ask you a few questions to find out more about the kind of property you are looking to move into and he or she will then use that information to find several homes on the market for you to take a look at. You may want to review pictures and take tours before officially choosing to purchase a specific home. Begin Staging Your Home and Making Any Necessary Renovations As you start looking for different properties in the ideal area of your choice, it is also a good time to start making small renovations and staging your home. If your home needs to have a bit of work done to it, you may not have as much luck charging as much as you would like to receive when selling it. However, you can easily increase the cost of the property by making small renovations, such as ripping out old carpet, fixing leaky faucets and having any mold removed. Staging the home is also a great way to get potential buyers interested in the property you are selling. Staging involves setting up rooms to make them look more inviting and comfortable. You can do this by rearranging furniture and eliminating any clutter. If you want to move, it is never too early to start looking at properties. Not only should you begin looking for the right place to live ahead of time, but you should also consider making renovation to your current home so that it may be possible for you to make the sale a bit...

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Property Management Services 101: A Guide For Prospective Clients

Posted by on 6:47 am in Uncategorized | Comments Off on Property Management Services 101: A Guide For Prospective Clients

In theory, owning real estate property that you rent or lease out is an easy way to earn a living. However, in reality, being a landlord can be a grueling job that requires a great deal of your time and effort. It is for this reason that many property owners choose to trust a property management service to handle their properties. If you are considering making the transition to allowing a property management service handle your landlord responsibilities, you are bound to have questions. Here are a few of the most common questions about property management and the answers you will want to know as a first-time client.  What kinds of tasks will the property management service handle? Property management teams can vary greatly from one place to the next. Some offer comprehensive services in which they handle pretty much every aspect of tenant relations and property care, while others may solely take on the responsibility of collecting rent payments or showing the property. If you go with a comprehensive property management service, you should expect services to include: property repairs rent and lease payment collections evictions and other tenant problems deposit reimbursements HUD interactions property advertising to fill vacancies cleanup after vacancy What is the best way to make sure your tenants are comfortable with the transition? It is never a good idea to leave your tenants in the dark if you hand over your duties as a landlord to a property management service. They need to hear it from you that there will be changes in who they make their monthly payments to, who shows up when they need repairs, and even who they should reach out to if they need help. Therefore, as soon as you make arrangements with a property manager, either stop by and let your tenants know face to face or send them a formal letter to let them know about the changes and what they should expect.  What is the best way to find a reputable property management service? First and foremost, look for a property management company that is known in your area. Check out local service reviews online and ask around at real estate companies and conventions when given the chance. It is also highly important to find a service that offers the services you need to fulfill your needs as a landlord. Plus, look for a company that is readily available for communication, which will be important for you as a client and for your...

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Buying Your First Home: Finding the Home of Your Dreams and Securing the Right Mortgage

Posted by on 7:46 am in Uncategorized | Comments Off on Buying Your First Home: Finding the Home of Your Dreams and Securing the Right Mortgage

It’s an exciting time when you begin getting serious about buying your first home. If your credit is good, mortgage rates are just above 4% for a 30-year, fixed-rate mortgage. This is quite low and a rate that many qualified home buyers are taking advantage of. If you are struggling to save for a down payment, you may also qualify for a mortgage backed by the Federal Housing Authority. The FHA provides mortgages for otherwise qualified buyers who are middle or low income as a way to help those individuals buy a home instead of renting. To find a home you love and secure a mortgage, it is essential that you work with a realtor in your area. Using Traditional Mortgages to Buy Your First Home If you qualify for a 30-year, fixed-rate mortgage, taking that option is an excellent choice for buying your first home. In addition to an FHA loan, you may also qualify for a loan from the Veteran’s Administration if you have been a member of the armed services. You can also get a mortgage for a lower period of time, such as 15 years. Adjustable-rate mortgages offer lower interest rates in the beginning, but the rates can go up significantly over time. With mortgage rates currently so low, it is financially reasonable to secure a fixed-rate mortgage instead of an adjustable-rate one right now. Working with Your Realtor Sit down with your realtor and talk about what you are looking for in your first home. You should try to prioritize your needs and wants so that the realtor can get a better idea of what home would work best for you. A realtor in your area is going to do more than look up properties. The realtor will know the area well and be able to guide you to certain neighborhoods that are a good fit for you. When you are clear about what matters to you, it will be easier for your realtor to match you with the right properties. Being Prepared While you are searching for a home, you need to be ready to make an offer right away. While the real-estate market is stable, houses can still sell quite fast. When you are pre-qualified for a mortgage, you will know what your budget is and what you can offer to a seller. Being prepared is essential when you start looking so that you don’t lose out on the home you love to a buyer who was ready to make an...

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Things To Do Before Selling Your Home

Posted by on 5:44 am in Uncategorized | Comments Off on Things To Do Before Selling Your Home

Are you a homeowner? Are you considering selling your current home so that you can purchase another one elsewhere? Selling a home can sometimes be a long and frustrating experience while you wait for the right buyer to see your home and make an offer. Fortunately, there are a few things you can do that can make a home more appealing so that it sells more quickly. Some things that you might want to consider doing include the following: Repainting: Paint that is peeling, cracked, or otherwise old-looking can be a deterrent for buyers. They may see that and then assume that the house has been poorly maintained. Convincing people that your home is in good condition can be difficult if you don’t repaint at least a portion of it. Before your real estate agent shows up to take pictures for the listing, you should seriously consider repainting at least a portion of your home. Since the sun can cause exterior paint to become damaged more quickly than interior paint, you should at least repaint the outside of your home. Landscaping: If a possible buyer drives by your home and sees tall grass or a massive amount of weeds, he or she will probably keep driving and go on to the next house on his or her list. You don’t have to have the perfect landscaping job, but you do want to make sure that your home doesn’t look neglected. Before your real estate agent takes any listing photos, make sure that the grass has been mowed within the past few days and to remove as many weeds as possible. Once the house has been listed, make sure to continue to mow weekly or as needed so that the house continues to look well cared for. Clean up interior clutter: Another thing that can cause potential buyers to lose interest is to have a house that is too full of your personal items. A potential buyer wants to be able to imagine their own stuff in a house. This can be difficult when the majority of the interior space has been taken up by your personal decorations. Pack up or get rid of as much stuff as possible and put it into a nearby storage unit. Make sure to listen to your real estate agent if he or she tells you that the house still has too much stuff inside. Although you might love and be proud of the dishware that your grandmother gave to you, other people will still want to imagine their own dishware in the house. Contact a real estate agent for more...

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Using Rental Properties To Invest In Your Family’s Financial Future

Posted by on 8:16 am in Uncategorized | Comments Off on Using Rental Properties To Invest In Your Family’s Financial Future

One of the best ways you can secure your financial future is through real estate investing. As President Franklin Roosevelt once said, “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” One of the best ways to get started in real estate investing is in single family home rentals.  Here’s a glimpse into the entire process from purchasing your first property to leveraging it to expand your portfolio. Find a Property The key to a good property investment is finding the right property in the right neighborhood at the right price and the right terms. The first step is finding a real estate professional who you trust and who understands your investment goals. He or she will be able to spot deals that are in line with your investment strategy. You’ll want to narrow your search according to location, price, and condition. Using these criteria, your agent can zero in on potential properties. Your agent has access to MLS listings and can be on the lookout for a good investment. Often foreclosure properties or For-Sale-By-Owner properties offer bargain prices. Finding these properties and guiding you through the complicated and tricky process of acquiring them is where your real estate agent’s knowledge and experience will be invaluable. Analyze the Profitability Once you have a short list of potential properties, put your emotions aside and run the numbers. You’ll need to research current market values, rents, and appreciation for the property’s location. Also, look at the condition of the property. How much will it cost you to make the property rentable? Once you have these numbers, you’ll be able to predict the home’s profitability and level of risk. Make your Purchase Your real estate agent can help you find a reputable lender—likely one he or she already has a working relationship with. It’s important to work with a lender who has experience with real estate investing. Your purchasing strategy will be different depending on where you are in life. A young couple just starting out with few funds available will want to find a property whose rent covers or exceeds the monthly expenses. They will want to choose a long-term (i.e., 30-year) mortgage with smaller monthly payments. An older couple who is within 15 years of retirement and can afford a large down payment or does not need cash flow starting out will likely opt for a shorter-term (i.e., 15-year) mortgage with larger payments. Grow Your Portfolio Once you’ve acquired your first investment property, you can begin to grow your property portfolio. The second and subsequent properties will typically become increasingly easier to buy because of the magic of leveraging. You can refinance your first property to get money for a second purchase or borrow against its equity. Another option is to rely on your first property’s appreciation and use the profits gained from selling it to purchase one or more properties. Don’t let your equity sit. Use it to grow your property investment portfolio and secure your financial...

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Three Questions First-Time Homebuyers May Wonder About

Posted by on 3:12 am in Uncategorized | Comments Off on Three Questions First-Time Homebuyers May Wonder About

Buying your first home may be one of the more overwhelming tasks that you will do during your life. Unfortunately, if you have a limited understanding when it comes to this task, you may not be sure of what to expect as you work your way through this purchase. To help you be a better-informed consumer, you will want to make sure that you are aware of the answers to these three commonly asked questions from first-time homebuyers. What Is Private Mortgage Insurance?  In order to secure a mortgage, it will usually be necessary for you to make a relatively large down payment. However, it is a fact of life that many people will struggle to save enough money to make this down payment. To help individuals that are facing this problem, many lenders will allow individuals to use private mortgage insurance to minimize the amount of down payment that is needed. These insurance policies essentially insure the bank against the risk of your defaulting on the loan. While these insurance policies can be extremely useful, they can also add a substantial amount of your monthly mortgage. Fortunately, you will not have to carry this insurance for the entirety of your mortgage as most lenders will lift this requirement once you meet certain equity requirements. Will It Matter If You Are Planning On Renting The Property? Investing in real estate can be an excellent way of providing yourself with additional income through rents. However, you might not be aware that using property for commercial purposes may require different financing terms. This is due to the fact that banks and other lenders will often have far higher credit requirements to issue loans for investment properties. However, if your credit is good enough to qualify for one of these loans, you may be able to include the projected income of the property in your application to help lower the interest rate of your loan. What Happens If The House Is Completely Destroyed Before The Mortgage Is Paid? It is a reality that disasters can strike any community. Sadly, if you lose your home, you will still be obligated for the mortgage on the property. For this reason, you will want to make sure that you choose a homeowners’ insurance policy that provides replacement coverage in the event your home is lost. This will ensure that you have the money needed to pay off the rest of the mortgage so that you can start...

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What To Teach Your Child To Do When They Get Locked Out Of The House

Posted by on 3:43 am in Uncategorized | Comments Off on What To Teach Your Child To Do When They Get Locked Out Of The House

One of the scenarios you need to be prepared for as a parent is the inevitable situation where your child will get locked out of the house and there are no adults around to let them in. Your child may have a key to get in, but it can get lost or misplaced or even left in the house, leaving your young one without a way to get inside when they get home from school or a friend’s house. Just in case this scenario happens to you, here are things you should teach your child in case they do get locked out sometime. Have them go to a safe location  Your child should be taught to go to a designated safe location should they get locked out, whether it’s the swing set in the backyard or the neighbor’s house. A child left on their own doorstep can become a target for would-be thieves or assailants, so make sure your child knows that, if they get locked out, they are to immediately go to a safe location of your mutual choosing. Make sure they have your number Your cell phone and work phone numbers should be programmed into your child’s cell phone so they can immediately reach you or your spouse should they get locked out of the home. They should also have the number of a nearby relative or trusted family friend in case they cannot reach you. Once they let you know they have been locked out, let them know how quickly you will be able to get to them, or let them know that you are calling a relative/friend to pick them up. Alert them to the locksmith If you are calling a locksmith, let them know that you have a child locked out of the house and tell your child what the locksmith will be wearing and what their service vehicle looks like so they are prepared. When the locksmith arrives to your home, have them call you prior to beginning entry services. If your child is more comfortable at a friend’s house while the locksmith works on letting you inside, make sure you know just where your child is by staying in communication the entire duration the locksmith is around. You want to make sure your child is ready with safe responses to being locked out of the house just in case it happens to them. Have your child role-play a scenario in which you aren’t home and they can’t get inside so you can be sure they know just what to do. Contact a company like Southern California Security Centers for more safety tips....

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3 Questions To Ask Potential Real Estate Agents During Your Consultations

Posted by on 3:24 am in Uncategorized | Comments Off on 3 Questions To Ask Potential Real Estate Agents During Your Consultations

Now that you’ve decided to put your home on the market finding a real estate agent to work with is an essential next step. Here are a few questions to ask during your consultations with potential service providers that should help you decide which one will meet your needs the best: What Services Have Additional Fees Associated With Them?  One of the most important things to consider when consulting with potential real estate agents is additional fees because they can make a big impact on the overall costs of your home sale. Bring along a list of services you expect you’ll need such as: Appraisals Coordination with your legal team Open-house hosting  Home tours You can use your list to find out which agents will be able to meet all of your needs and to determine how much extra, if anything, will be charged for each service you’re looking to take advantage of. You can then use the list at home afterward to compare each service provider side-by-side when deciding who you want to ultimately work with. How is Ongoing Advertising Handled? Almost all real estate agents include advertising as part of their services, but they all don’t execute the same promotional campaigns as one another. Because of this, it’s essential to have each potential agent you speak with to provide you with a checklist of advertising services that will be used once your home goes on the market. Make sure that the agent you decide to work with implements a variety of advertising tactics including: Newspaper ads Social media posts Blog publications Word-of-mouth campaigns Promotional item giveaways In addition to learning about the basic advertising avenues that will be used by each potential real estate agent, it’s a good idea to find out a bit about how those avenues will be used. For example, if social media will be used you should know what kind of account will do the marketing, how often promotions for your home will be posted, and how you can keep up with the results of those efforts. Who Will Be Working With Your Agent? The chances are that your agent doesn’t work alone all of the time, especially when they have a full calendar. If any potential agents you speak with plan to work with assistants or other agents throughout the process of selling your home, find out who they are and what kind of experience they have. You should also learn whether or not they’re licensed and insured too. Although you don’t have to meet your agent’s team in person, it is important to know a little something about their qualifications. Add these questions to a list of your own, so they aren’t overlooked during the consultation meetings you schedule with potential real estate...

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Tips For Purchasing A Starter Or Temporary Home

Posted by on 11:22 am in Uncategorized | Comments Off on Tips For Purchasing A Starter Or Temporary Home

Not every home purchase is meant to be a forever home. Whether you are shopping for a starter home or simply know that you won’t be remaining in an area for the rest of your life, it’s still important to purchase with care. There are certain things you should look for in these somewhat temporary home purchases to make sure you can easily sell them when the time comes to move on. Check the real estate history Not just for the home you are looking at, but for the whole area. If you plan to sell in a few years, then you want a home that is in an area that is on a steady upward trend when it comes to home values. For those planning to move further in the future, such as at retirement, a stable real estate history that shows that the area weathers the normal ups and downs of the market well is a good sign. Look into the neighborhood’s prospects Purchasing in an area that is just beginning to go through a gentrification process isn’t a good idea if you will be moving in a few years, as there is no guarantee that values will go up in the area instead of down. Instead, check out the neighborhood to make sure it is stable and that the citizens are engaged with maintaining the area. Things to look for include: A variety of businesses that are doing well. Sound, well maintained infrastructure, including roads, sidewalks, and parks. Good schools and libraries within a short distance. Neighborhood activity, including dog walkers, bicyclists, and children playing. Engaged citizen groups, such as neighborhood councils or boards, or “friends of” groups for parks or business areas. Plenty of nearby employment opportunities. Tread carefully in transient areas Some neighborhoods cater to a highly transient population. These are usually in areas near large universities, by military bases, or near large multi-national corporations. Residents buy a home and live in an area for a set amount of time – until they graduate, are reassigned, or are transferred, for example. Houses may sell quickly since the population is constantly in flux, but the value of the homes rises slowly simply because the status and wage level of the new influx of homebuyers is likely stagnant. Purchasing in a transient area can be a good option if your eventual move is far in the future if the population is stable – in other words the base isn’t in danger of closure or the corporation is likely to remain successful. If you will be staying in the home for 10 years or more, for example, the value will increase some due to inflation which means you can have a nice bit of equity in a stable value area. On the other hand, if you are part of the transient population and will be moving in a few years, you won’t be able to build sufficient equity and may even end up upside down on the mortgage. Contact a real estate agent to discuss which homes for sale would best fit your...

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Three Tips When Buying A Home

Posted by on 5:15 am in Uncategorized | Comments Off on Three Tips When Buying A Home

Finding a new home can be one of the most fulfilling and rewarding steps that you take in your life. In order to turn this dream into a reality, you need to be sure that you understand a few tips that will help you land the home that you have always wanted. Read these guidelines below and put them into use, as you also contact a real estate agent who will help you become a home owner.  Tip #1: Avoid Moving Your Money Around Leading Up To The House Hunt One of the biggest factors when searching for a house is securing the financing to afford it. There are a lot of financial lenders available to help you, and this process will involve thorough background checks and research into your credit profile and history. Because of these background checks you must go through, you need to be sure that your accounting is as clean and easy to understand as possible. To this end, avoid moving any serious amounts of money around during the 6 months leading up to you seeking the necessary financing required to purchase a home. This way, you increase the chances of your application being approved and will avoid any red flags.  Tip #2: Find The Best Real Estate Agent When it comes to the house purchase process, the realtor you hire will make a huge difference. Because of this, you should take the time to interview several real estate agents until you find the right fit. Research their license to make sure that it is current and be sure that you browse their site to see which listings they currently have available. Interview multiple prospective realtors until you find a realtor or person that you feel comfortable with.  Tip #3: Always Get Your Home Inspected Before Purchasing You should never finance a home until you are 100 percent confident that it does not have any serious problems. The only way to know this for sure is through a third-party inspection. Hire a home inspector to go out to the property and assess things like the foundation, roof, electrical wiring, and plumbing. You should also have them look for things like termites, mold, and asbestos. Taking the time to handle this first will give you peace of mind once you are ready to close on a property.  Follow these golden house hunting tips so that you find the best house for you. Click here for more...

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