Apr 28, 2009
Foreclosure Guide For Buyers
So you're looking for a bargain in a sea of foreclosures? It won't be easy. Buying a foreclosure is tricky, but if you do your homework and follow these steps, you can land a great deal on a home.
Apr 24, 2009
Apr 22, 2009
First-Time Homebuyers: $8,000 Tax Credit
A tax credit of up to $8,000 is available for qualified first-time homebuyers purchasing a principal residence this year.
Apr 16, 2009
Home Buying Checklist
For anyone considering buying a home, here is a helpful home buying checklist. This is a good tool for understanding the many details involved in buying a home.
Apr 14, 2009
The Return of Affordable Homes
For first time home buyers or move up buyers, the Orlando real estate market has brought a welcome return of affordable homes across east metro Orlando neighborhoods.
Throughout several quality neighborhoods, there are over 70 single family homes listed at $200,000 or less. There is a large array of homes to choose from and historically low interest rates – in a nutshell, it’s a fine to buy.
For example, on a $200,000 home purchase today, the monthly payment (including property tax, property insurance and HOA) is an estimated $1,267.
Throughout several quality neighborhoods, there are over 70 single family homes listed at $200,000 or less. There is a large array of homes to choose from and historically low interest rates – in a nutshell, it’s a fine to buy.
For example, on a $200,000 home purchase today, the monthly payment (including property tax, property insurance and HOA) is an estimated $1,267.
Apr 9, 2009
Tend Your Garden
From The Wall Street Journal
Preparing to put your home on the market means that you not only have to stage your home's interior to impress potential buyers, but you have to spruce up your yard, too.
Preparing to put your home on the market means that you not only have to stage your home's interior to impress potential buyers, but you have to spruce up your yard, too.
Mar 27, 2009
Typical Selling Expenses
By Tammy Stoner, FrontDoor.com
When selling your home, it pays to look at the complete financial picture so you are ready to deal. Make a list of the costs of selling your house including:
Realtor Commission There's a 4% to 7% commission on the sale price of the house if you opt to go with an agent. Usually this rate is between 5% and 6%, but it can go as high as 10% on vacant land deals. It's a considerable amount of money. If you sell your house for $300,000, the standard 6% cut for the agent will be $18,000.
Closing Costs These can add up to 2% to 5% of the purchase price and include title transfer, any county transfer taxes, escrow charges and other miscellaneous fees.
Property Taxes If you didn't pay all of your property taxes before you sell a house, a prorated tax amount will be included in closing costs. Note: If you pay out of an impound tax (that's an amount tacked on to your monthly mortgage), this does not apply, since your taxes will be paid up-to-date.
Home Warranty Often the seller buys a yearlong home warranty for the buyer.
Pest Inspection Don't worry, this doesn't include a judgment of your nosy neighbor. Just termites.
Repairs Although the buyer pays for the home inspection, it's a good idea to get your own inspection before putting your house on the market. This way you're aware of any hidden problems before selling.
When selling your home, it pays to look at the complete financial picture so you are ready to deal. Make a list of the costs of selling your house including:
Realtor Commission There's a 4% to 7% commission on the sale price of the house if you opt to go with an agent. Usually this rate is between 5% and 6%, but it can go as high as 10% on vacant land deals. It's a considerable amount of money. If you sell your house for $300,000, the standard 6% cut for the agent will be $18,000.
Closing Costs These can add up to 2% to 5% of the purchase price and include title transfer, any county transfer taxes, escrow charges and other miscellaneous fees.
Property Taxes If you didn't pay all of your property taxes before you sell a house, a prorated tax amount will be included in closing costs. Note: If you pay out of an impound tax (that's an amount tacked on to your monthly mortgage), this does not apply, since your taxes will be paid up-to-date.
Home Warranty Often the seller buys a yearlong home warranty for the buyer.
Pest Inspection Don't worry, this doesn't include a judgment of your nosy neighbor. Just termites.
Repairs Although the buyer pays for the home inspection, it's a good idea to get your own inspection before putting your house on the market. This way you're aware of any hidden problems before selling.
Mar 23, 2009
Saving Energy On The Cheap
From The Wall Street Journal
Looking for easy ways to save on your home’s energy costs? Little steps work reports this author who is on track to save $500 this year.
Looking for easy ways to save on your home’s energy costs? Little steps work reports this author who is on track to save $500 this year.
Mar 19, 2009
Rolling The Dice
From the buyers I’ve worked with who’ve attempted to snag a great deal on a short sale or bank owned home, nine out of ten of them ended up empty handed.
I am coming across more and more buyers who are turned off by the “great deals” that short sale or bank owned homes are reputed to have. This is due to the sales process of submitting an offer on a short sale or bank owned home – the waiting, hoping, delay upon delay and lack of communication. This is more than the average buyer can bear.
However, home sales continue today with the majority of transactions being short sales or bank owned homes. These homes were purchased by a few hearty souls who chose to weather the ups and downs, the delays and the uncertainty of a short sale or bank owned home - and they walked away with the prize - a good home at a great value. These buyers stuck it out, remained motivated and gave the transaction the time and patience needed. In other words, they rolled the dice and won.
I am coming across more and more buyers who are turned off by the “great deals” that short sale or bank owned homes are reputed to have. This is due to the sales process of submitting an offer on a short sale or bank owned home – the waiting, hoping, delay upon delay and lack of communication. This is more than the average buyer can bear.
However, home sales continue today with the majority of transactions being short sales or bank owned homes. These homes were purchased by a few hearty souls who chose to weather the ups and downs, the delays and the uncertainty of a short sale or bank owned home - and they walked away with the prize - a good home at a great value. These buyers stuck it out, remained motivated and gave the transaction the time and patience needed. In other words, they rolled the dice and won.
Mar 16, 2009
What Home Repair Novices Need To Know
From The New York Times
Think fast: where are your main water, electrical and gas shutoffs? If you know only one or two things about your home, it should be where these handles, valves or switches are and how to quickly turn them off if needed in the case of home repairs and serious weather.
Think fast: where are your main water, electrical and gas shutoffs? If you know only one or two things about your home, it should be where these handles, valves or switches are and how to quickly turn them off if needed in the case of home repairs and serious weather.
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