Ah, Spring … Make Sure Your Property Is Ready for a Warmer Market
Spring is a season of renewal – this year in particular. Just as the birds are chirping and flowers are starting to bloom, the U.S. economy is moving forward with real estate sales percolating in many markets. Indeed, the days grow longer in spring, allowing more time for consumers – especially those motivated by current, historically low interest rates and attractive home prices – to shop for their American dream.
If you’re considering selling your property this spring, now's a good time to complete some spring maintenance to make sure your home is in tip-top shape. Even if you aren't planning to sell your home, you should still add these chores to your list to help preserve your home's value and help avoid major repairs later on.
Walk Around the Outside
Check for any damage caused by winter's cold weather. Look for those sagging or loose gutters, window frames or siding. Is your roof missing any shingles, or is there any water damage under the eaves? Promptly schedule repairs for those items you can't do yourself.
Over the fall and winter, leaves, mud and debris may have accumulated in your gutters. Check your gutters for clogging and damage and schedule an appointment for cleaning.
Walk around your yard as if you were a first-time visitor. What impression does your home make? Be sure to clear away fallen branches and leaves. Loosen the soil around perennials, plant annuals or a vegetable garden. Prune shrubs and trees.
If your water supply has been off for the winter, turn it back on. Test your automatic sprinkler system or connect your water hose and check for cracks and leaks. Replace old washers or sprinkler heads.
Don't forget the backyard! Is it time to condition your deck? Be sure to hammer in any loose nails, or replace them with galvanized deck screws. Replace any broken boards or rails. Consider renting a power washer to clean dirt and mildew from the wood, and then apply an all-weather sealer or stain. Then dust off that patio furniture you kept protected over the winter.
Repair any broken fence boards and paint or seal them as needed. Clean the pool if it has been covered all winter. Wash windows, screens and windowsills; repair any winter damage.
Take a Tour Inside
Start making a list of things to do in each room. Then go to work. Dust walls and ceilings to remove cobwebs and wash any grimy areas. Wash window curtains or remove drapes for dry cleaning. Deep clean rugs and carpets. Dust and polish wood or laminate floors.
Clean fan blades using mild soapy water. Check the central air-conditioning unit for debris and obstructions; vacuum the main condenser coil on top of the unit. Check the operating condition of window air-conditioning units; remove and wash filters in mild soapy water.
Make sure all exhaust fans and vents are clean and clear. Don't forget to remove the lint buildup from the clothes dryer vent.
One often-overlooked area is the fireplace. Be sure to sweep ashes carefully into your fireplace's ash pit or into a dustpan. Clean and lightly oil fireplace tools. Remember it's springtime, so you may want to decorate the fireplace or wood stove with a large silk flower arrangement.
Look around for clutter. Are there items you don't use any longer? If you are planning on moving, what items will you not need? Consider having a garage sale and then either donate or trash the remaining items.
And lastly, don't forget to replace batteries in smoke and carbon monoxide detectors. A good time to change them is when you change your clock for daylight savings.
Although performing these spring chores may be dreaded task, they go a long way in maintaining and even enhancing the attractiveness and quality your home. With more buyers out and about, you must be sure your property is ready for its next new owner!
Showing posts with label Search MLS For Homes For Sale in Hatfield. Show all posts
Showing posts with label Search MLS For Homes For Sale in Hatfield. Show all posts
Wednesday, April 7, 2010
Friday, August 14, 2009
What a Buyer Should Expect During the Closing
The last step in the home buying process is what real estate professionals commonly refer to as “the closing.” The closing, or settlement or close of escrow, is when all the progressive steps in buying a home from the acceptance of the offer, title search, home inspection, mortgage approval, and so on, come together in a final transaction. The documents are ready to sign, the buyer is ready to hand over the purchase price and the seller is ready to transfer title—and most importantly the keys!
Usually held in an office setting, most require about an hour and may be attended by some or all of the various parties in the process: the buyer, seller, real estate sales professionals or attorney, and title-company representative.
What goes on during the closing? The buyer reviews and signs loan and real estate documents, as well as pays for the property, closing and other costs. One such loan document is the federal Truth-in-Lending disclosure form which describes the annual rate of financing (APR), finance charges, amount financed, total of payments and the payment schedule. There will also be a form itemizing what your monthly payment consists of including the principal, interest, taxes, insurance and other monthly charges. If everything is in order, the buyer signs the loan papers.
Real estate documents are just as important. There’s the HUD-1 form, which you have the right to inspect at least one day before the closing. This statement itemizes services provided and the fees charged for the entire real estate transactions. There will be a breakdown of the seller’s and buyer’s (borrower) financial obligations. Some of the charges include appraisal fee, credit report fee, loan origination fee, loan discount (points), title insurance fee, government recording fees, PMI Premium, inspections and attorney fee.
Other real estate documents that may be reviewed and/or signed include title documents, warranty deed (which transfers the title of the property) and other acknowledgment of reports.
Assuming that the funds are in order, the deed is correct and the title is clear, the final step is the disbursement of funds to the seller for the purchase price of the home. The title company should already have the loan funds in its possession, but the buyer will need to bring a cashier’s or certified check for the down payment and the closing costs if it was not included in the mortgage loan. If the buyer’s annual real estate taxes and homeowner’s insurance will be paid through the lender, an escrow account will also be established.
Once all the papers are signed and funds are disbursed, the buyer will receive the keys and is now a homeowner.
Usually held in an office setting, most require about an hour and may be attended by some or all of the various parties in the process: the buyer, seller, real estate sales professionals or attorney, and title-company representative.
What goes on during the closing? The buyer reviews and signs loan and real estate documents, as well as pays for the property, closing and other costs. One such loan document is the federal Truth-in-Lending disclosure form which describes the annual rate of financing (APR), finance charges, amount financed, total of payments and the payment schedule. There will also be a form itemizing what your monthly payment consists of including the principal, interest, taxes, insurance and other monthly charges. If everything is in order, the buyer signs the loan papers.
Real estate documents are just as important. There’s the HUD-1 form, which you have the right to inspect at least one day before the closing. This statement itemizes services provided and the fees charged for the entire real estate transactions. There will be a breakdown of the seller’s and buyer’s (borrower) financial obligations. Some of the charges include appraisal fee, credit report fee, loan origination fee, loan discount (points), title insurance fee, government recording fees, PMI Premium, inspections and attorney fee.
Other real estate documents that may be reviewed and/or signed include title documents, warranty deed (which transfers the title of the property) and other acknowledgment of reports.
Assuming that the funds are in order, the deed is correct and the title is clear, the final step is the disbursement of funds to the seller for the purchase price of the home. The title company should already have the loan funds in its possession, but the buyer will need to bring a cashier’s or certified check for the down payment and the closing costs if it was not included in the mortgage loan. If the buyer’s annual real estate taxes and homeowner’s insurance will be paid through the lender, an escrow account will also be established.
Once all the papers are signed and funds are disbursed, the buyer will receive the keys and is now a homeowner.
Prudential Fox & Roach is an independently owned and operated member of Prudential Real Estate Affiliates, Inc., a Prudential Financial company. Equal Housing Opportunity.
Friday, June 19, 2009
Tuesday, May 12, 2009
Generate Profits with Foreclosures
If you try to remember the state of the market just a few years ago, you will realize how much the market has grown and how many new homes have been developed. So much land has been made available to accommodate real estate developments.
There was a time when so many people started buying properties which led to a boom in the real estate industry. However, there are many people who are now unable to meet their payments and are losing their homes due to foreclosure. There are some things that you can do to take advantage of the change in the market and buy some of these foreclosed properties. If you have the ability to get the credit that you will need, you can cash in on the incredible amount of foreclosures.
If you don't know what foreclosures are, they are homes that have been financed by the homeowner who is now unable to pay the mortgage. In such cases, the mortgage company will then take ownership of the home.
There were many people who bought these homes with the idea that they would live in them for the rest of their lives. There are circumstances that cause the homeowner to not be able to afford the home any longer. Job loss and a variety of circumstances can lead some people to find themselves out of their home. The foreclosures that are the result of these circumstances can be a very good deal for people who have the money to invest.
The mortgage company is losing a great deal of money on these foreclosures and will be responsible for the taxes that are left on the home as well. Some of the homes are in disrepair and the mortgage company will have to pay for that as well before the home can be sold. This is the reason that many of these homes sell for such low prices. The mortgage company wants to sell the home as quickly as possible to recoup some of their losses.
There are literally thousands of homes on the market that are in foreclosure. You are able to buy one of these homes for a drastically reduced price, more often than not. Once you have bought the home, you will be able to do what you want with it. You can fix it up and then resell it for a profit, hold on to it or rent the space out. The rent that you collect from these properties can pay the mortgage while you are waiting to sell the property outright. This is a way that you can make some money from the property to cover the mortgage and not have to spend too much, if at all, out of your own pocket to maintain it while you are waiting for a good profitable sale.
There are a number of ways that you can find to turn foreclosures into a profit making enterprise. While it is certainly an unenviable situation for some, there is something to be gained from the process for you.
~Joanne
There was a time when so many people started buying properties which led to a boom in the real estate industry. However, there are many people who are now unable to meet their payments and are losing their homes due to foreclosure. There are some things that you can do to take advantage of the change in the market and buy some of these foreclosed properties. If you have the ability to get the credit that you will need, you can cash in on the incredible amount of foreclosures.
If you don't know what foreclosures are, they are homes that have been financed by the homeowner who is now unable to pay the mortgage. In such cases, the mortgage company will then take ownership of the home.
There were many people who bought these homes with the idea that they would live in them for the rest of their lives. There are circumstances that cause the homeowner to not be able to afford the home any longer. Job loss and a variety of circumstances can lead some people to find themselves out of their home. The foreclosures that are the result of these circumstances can be a very good deal for people who have the money to invest.
The mortgage company is losing a great deal of money on these foreclosures and will be responsible for the taxes that are left on the home as well. Some of the homes are in disrepair and the mortgage company will have to pay for that as well before the home can be sold. This is the reason that many of these homes sell for such low prices. The mortgage company wants to sell the home as quickly as possible to recoup some of their losses.
There are literally thousands of homes on the market that are in foreclosure. You are able to buy one of these homes for a drastically reduced price, more often than not. Once you have bought the home, you will be able to do what you want with it. You can fix it up and then resell it for a profit, hold on to it or rent the space out. The rent that you collect from these properties can pay the mortgage while you are waiting to sell the property outright. This is a way that you can make some money from the property to cover the mortgage and not have to spend too much, if at all, out of your own pocket to maintain it while you are waiting for a good profitable sale.
There are a number of ways that you can find to turn foreclosures into a profit making enterprise. While it is certainly an unenviable situation for some, there is something to be gained from the process for you.
~Joanne
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