Tag: Home

Buying a HUD Home

The term HUD means Department of Housing and Urban Development. This department is responsible for providing affordable housing for those who want to become homeowners. The process of selling this foreclosed property is not like regular real estate deals and foreclosed properties. HUD takes the home if the FHA has approved the loan on it and it must be a foreclosed property. HUD will use an asset management company to sell the homes for them. The potential homebuyer will have to work with a real estate agent that is HUD registered.

After have a property inspection conducted you can either place a sealed bid on the home or look for another home. If you receive notice that your bid was accepted, you will have settlement time. This is the time you have to purchase the home and close the deal. Before you bid on the home make sure that you are eligible for some home loan unless you can afford to pay cash.

Advantages of HUD homes for sale

  • Financial help-if you are eligible for an FHA loan, they have many different programs so you may be able to get some capital to buy the home. If the HUD home

Home Buying Negotiations

Ask for something in return.

Typically, transactions inside a home sale should be give and take. Sellers put specific price tags because they want money in exchange of their property. Buyers inspect the house and see appliances not included in the seller’s listing. Then a higher price than that of the seller is raised. This is when counter offers start. Whether or not the seller or buyer would give in to some demands, the counter offers can go back and forth. Sellers and buyers alike should remember that counter offers are made because they want something from this.

In simple philosophy, counter offers are done to tap into either a buyer or a seller’s fairness. In response to changes in prices made from both sides, requests are also slowed down.

Give incentives.

During the counter offer, remember that you should give when you want to take something. Thus, incentives in different forms will likely help. If you are on the seller side, offer buyer like paying for homeowners’ association fees for a specific period. Incentives can spell some trick on the buyer. You have just to be creative yet respectful in putting up your incentive offers.

There are so many …

Effectively Selling A Home

  1. Strategy: The finest representation, requires a clear – cut, focused, meaningful, relevant strategy, based on a number of relevant factors, etc. The process must begin, with a discussion between agent and client, and agreeing to proceeding, on the same page, focused on the best way, to market a specific property, in order to achieve one’s needs, and objectives.
  2. Pricing: Creating the best, initial listing price, means doing so, not based on emotion, and/ or pie – in – the – sky, wishing, hoping, greed, or unrealistic expectations. Quality agents will discuss pricing strategies, and which, might make the most sense, in the specific market, local area, and time. A meaningful rule – of – thumb, should be, to price a house, right, from the start!
  3. Marketing; same page: Successfully marketing and selling a specific home, requires agent and client, to be on the same page, and commit to their agreed – upon, strategy. Homeowners must do all they can, to make their houses, readily available, so the most, qualified, potential buyers, are able to view it. When you get many views, you optimize your marketing efforts and possibilities! Homeowners should interview potential agents, and have a thorough discussion on how,

Remember When Buying a Short Sale Home

Seek the lender’s approval on the short-sale

The house is being put in this tag because the owner has failed to update his payments on the mortgage. The lender has all the legal rights to pursue the remaining amount out of the financing scheme in which the sepller and the lender agreed earlier as a deal. Work out with the lender because they will usually see a short-sale as a rather favorable move than a foreclosure.

Foreclosures brings back a house to the lenders stable of properties. This means they have to shell out considerable amount of money in a monthly basis for maintenance and property taxes. If you’re thinking on the bright side of it, you can easily see that a short sale will look better for a lender. Maintenance and property fees will be out of the lender’s shoulders. It will also be far more favorable in terms of affecting the lender’s reputation and stats.

Work out with a reliable real estate agent

Short-sales should never be considered as a DIY endeavor. It is very technical and complicated. It involves a lot of negotiations not only with the side of the seller but with the lender’s side as …

Ways to Convert Your Home

Adopt Home Insulation Methods

Reduce the use of home cooling systems like coolers, air conditioners, and so on, and still keep your home cool during summers by using few simple methods.

Insulate your home to keep the heat outside during summer days and the warm air inside during the winters. Paint the roof with reflective paint for minimum heat absorption into the house. Use double glazed windows and vinyl window frames instead of aluminum to prevent unnecessary transfer of heat. Using blinds on windows during summers will keep the glare out and keep your home cooler.

Get New Energy Efficient Appliances

The older an appliance is, lesser will be its energy efficiency. Replace these appliances with newer models, especially those having Energy Star certification, and make an energy-efficient home.

To save on your water consumption, get low-flow equipment like low-flow showers and washing machines, low-flush toilets, and so on.

Plant More Trees

Planting more trees around any place provides better heat regulation. If you have enough space, you should plant deciduous trees around the eastern, western, and southern walls of your house. These sides receive the most sunlight.

Planting a tree right beside the exhaust outlet of an air conditioner …

Steps To Effectively Marketing A Home

  1. Price it right, from the start: One of the major obstacles to selling a house, is generally, the listing (or asking) price. This effort should not be based on either ignorance or greed, or haphazard, but, rather, should be based on the guidance of the qualified agent, you hire. Using, what is generally referred to as the C.M.A. (Competitive Market Analysis), you enhance your ability, to price the house, most effectively. This makes sense, because, historically, the best offers, come within the first few weeks, after a house is listed on the market, and, therefore, attracting, as many qualified buyers, in the appropriate price range, as possible, will best realize the objective, of fetching the best available offer.
  2. Coordination between agent and homeowner: The homeowner, and the agent, he hires, must be, on the same page, to achieve the best results. Before hiring an agent, homeowners should interview several agents, discuss philosophies, perspectives, and marketing system, and agree, to a well – coordinated, team – based, effort!
  3. Determine and address curb appeal: It’s often challenging for a homeowner to objectively look at, and evaluate, his own home, for many reasons, but, perhaps, most essentially, the emotional factors! Discuss any and

Better Home Buyer Preparation

  1. Prepare for the down – payment, etc: Although most home buyers use a mortgage, in order to acquire their home, even, some of the most qualified, potential buyers, sometimes, neglect, what is referred to, as the closing costs. These costs include the down – payment, legal fees, and associated closing expenses. Most lending institutions want to know, where these funds come from, and so, before beginning one’s search, the necessary funds, should be transferred (at least 3 months prior), to an easily identifiable, bank account, etc. In most cases, the buyer needs to put 20% down, but, sometimes, to get the best interest rate, a larger down – payment, may be needed. Although lower down – payments, may be acceptable, often, there are usually more fees, and conditions, involved. The more prepared, the lower the stress!
  2. Reserve fund: No matter how nice a home looks, nearly every buyer decides to personalize/ customize the house, and, this, additional funds are needed. In addition, it is wise, for people, to have an additional reserve or contingency fund (generally recommend a minimum of 6 – 9 months), in case of unexpected contingencies, etc.
  3. Fix/ address credit: Several months before you begin shopping for

Simple Energy Conservation Ideas For Your Home

  • Insulation: Every form of insulation comes with some R rating. This number indicates the amount of insulation, but are you certain, all exterior walls and ceilings are properly insulated? Doing so, might potentially save a considerable amount of unnecessary energy costs.
  • Energy efficient appliances: Certain home appliances, especially refrigerators, freezers, and air conditioners, have become far more energy – efficient, in recent years. How old are yours? Look at the rating, and it will indicate how much energy a particular appliance might be using. When I recently replaced my refrigerator, the new one was far more efficient (therefore, cost less to run), than my 15 – year old model. Similarly, today’s oil and gas burners and boilers are far more efficient, than they have ever been!
  • Water and toilet: Are there any dripping faucets or toilets that continue to run – on? Eliminate the drips, change faucet heads (especially in the shower), and check the efficiency of your toilets.
  • Lights/ fixtures: Begin by making the effort to turn lights off, when you leave the room! What type of light bulb are you using? Many bulbs today are four, or more times, more efficient (use less energy/ wattage), than older

Properly Placing Mobile Home

Placing your home on a leased lot

Mobile home communities offer many logistical advantages for their renters. The communities are usually already equipped with utilities, making placement of your home fairly simple. If you are interested in placing your home in a rental community, you should visit various communities and become familiar with their policies and procedures.

Some practical issues to consider include:

  • Installation procedures and charges: Know if you, your home manufacturer, or your community will be responsible for your home’s installation. Remember that problems with installation could void your home’s warranty, so make sure that you feel confident in your home’s installer. Make sure you know all of the costs for installation and the charges for utility hook up.
  • Procedures governing community life: Know who is responsible for ground and lawn maintenance; be familiar with parking rules, quiet time regulations and regulations regarding pets. Familiarizing yourself with these policies before you buy can prevent legal disputes with your landlord later on.
  • Lease Agreements: Familiarize yourself with community policies on the length of a lease period and if there are any penalties or rules regarding selling your home or moving your home.

Placing your home on your own land

Downsizing Your Home

  1. Ease of mind: If your move coincides with retirement, your decision should first consider, the best way, to proceed, so you are comfortable and, at ease. Determine what you believe you will need monthly, and then add 15 to 20%, to that number. Subtract what you receive from Social Security, and pensions, etc. If you still need monthly stipends, consider putting a sufficient amount into a relatively safe investment vehicle, such as a balanced mutual fund, etc. If possible, put an additional 10% into this vehicle.
  2. No such thing as, one – size- fits- all: Pay close attention to your personal comfort zone, because if you are uncomfortable, it is not your best choice. Consider your age, sources of income, nest – egg, etc.
  3. Should I invest? Probably yes, but carefully interview potential advisers, and get recommendations, consider how you relate, and if you trust him. For most, avoid speculation, unless you can afford to lose that money. Publications such as Morningstar, are generally, valuable resources, and sources of reliable information. Most are best served, by using mutual funds, with a track record of doing comparatively well, in various market conditions. However, if you will panic, avoid this approach.
  4. Be