Real Estate & Finance News http://rismedia.com/?p=135891 http://rismedia.com/2017/10/21/appraisal-disappointing-steps-take/ Advice Buying/Selling For Your Clients Home Spun Wisdom Latest News Appraisal Appraisal Institute Home Appraisal Appeal Home Appraiser Home-Buying Home-Selling real estate news Appraisal Disappointing? Steps to Take <p>Appraisal disappointing? You have options, according to the Appraisal Institute. &#8220;Homebuyers and sellers should first understand what an appraisal is and how it&#8217;s used,&#8221; says Jim Amorin, president and acting CEO of the Appraisal Institute. &#8220;Real estate appraisals for mortgage finance applications are prepared for the bank or financial institution so they can better understand [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/21/appraisal-disappointing-steps-take/">Appraisal Disappointing? Steps to Take</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Sat, 21 Oct 2017 04:00:54 Z http://rismedia.com/2017/10/21/appraisal-disappointing-steps-take/#respond Susanne Dwyer <p>Appraisal disappointing? You have options, according to the Appraisal Institute.</p> <p>&#8220;Homebuyers and sellers should first understand what an appraisal is and how it&#8217;s used,&#8221; says Jim Amorin, president and acting CEO of the Appraisal Institute. &#8220;Real estate appraisals for mortgage finance applications are prepared for the bank or financial institution so they can better understand the collateral risk in making the loan. This can be confusing, because homebuyers typically pay for the appraisal and receive a copy of it.&#8221;</p> <p>In some cases, the appraisal may not match the contract price—but just because an appraisal comes in below (or above) the listing or contract price doesn&#8217;t mean it&#8217;s flawed, Amorin says. The agreed-upon contract price may be above market value, for example. In those situations, the buyer and seller often renegotiate the contract at more favorable or balanced terms.</p> <p>Homebuyers should ask their lender for the qualifications of the appraiser, including whether they are designated by a professional association like the Appraisal Institute, says Amorin. A qualified and competent appraiser knows how to conduct a thorough market analysis and make appropriate adjustments.</p> <p>Homebuyers also can ask whether the appraiser is directly engaged by the bank or whether the bank utilizes an appraisal management company, and what their procedures are for engaging qualified appraisers.</p> <p>&#8220;The best way for consumers to combat potential problems with appraisals is to ensure the appraiser hired by their lender is highly qualified and competent,&#8221; Amorin says. &#8220;Consumers have every right to demand the use of a highly qualified appraiser, someone with field experience in their market and knowledge and experience to handle the assignment properly.&#8221;</p> <p>Contrary to incorrect interpretations of appraiser independence requirements, appraisers welcome information that would assist the development of credible assignment results,&#8221; says Amorin. If lender policies permit, consumers can accompany appraisers when conducting the property inspection and may provide the appraiser with any information they consider important.</p> <p>Amorin suggests consumers ask their lender for permission to do so, and confirm the appointment. Consumers should also take note of whether an adequate inspection is performed. Did the appraiser spend enough time at the property to observe important features or improvements or potential problems?</p> <p>Homebuyers should take advantage of their right to obtain a copy of the appraisal report,&#8221; Amorin says. Even though the appraisal is ordered to help assess lender collateral risk, buyers are entitled to a copy of the appraisal report. Federal regulations require lenders to provide property buyers with free copies of appraisal reports no later than three days before the loan closes.</p> <p>Although appraisal review is best performed by qualified appraisers, consumers should examine the appraisal for potential deficiencies, says Amorin. According to &#8220;Appraising the Appraisal: The Art of Appraisal Review,&#8221; common errors in appraisals include: misuse of adjustments to comparables; disregarding special financing and concessions; or miscalculation of gross living area (GLA).</p> <p>Amorin suggests consumers ask themselves:</p> <ul> <li>Do adjacent homes add or detract from the value of the subject property?</li> <li>Is the subject property equal to or lower in price than surrounding homes?</li> <li>Does the floor plan have any functional problems?</li> <li>Does the house (particularly the kitchen and bathrooms) require major remodeling to make it comparable with similar homes in the same price range?</li> <li>Is the number of bedrooms and baths in the home comparable to similar homes in the same price range?</li> <li>Did the appraiser perform an adequate inspection?</li> </ul> <p>&#8220;Most lenders have appraisal appeal procedures, known as &#8216;Reconsiderations of Value,'&#8221; says Amorin. &#8220;If you&#8217;re aware of recent, comparable sales information or items that may not have been available or considered by the appraiser, provide those to the lender. If problems were found with the first appraisal, you can and should obtain a second appraisal.&#8221;<em><br /> </em></p> <p><em>Source: </em><a href="http://www.appraisalinstitute.org" target="_blank"><em>Appraisal Institute</em></a></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/21/appraisal-disappointing-steps-take/">Appraisal Disappointing? Steps to Take</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/21/appraisal-disappointing-steps-take/feed/ 0 2017-10-21 04:00 +00:00 2017-10-20 21:00 -07:00 http://rismedia.com/?p=135847 http://rismedia.com/2017/10/19/tips-industry-professionals-surviving-real-estate-hurricane-season/ Advice Buying/Selling For Your Clients Home Spun Wisdom House Canary Latest News Home-Buying Home-Selling Hurricane Harvey Hurricane Irma Hurricane Preparedness Hurricane Repair real estate news RISMedia's Housecall Tips From Industry Professionals on Surviving Real Estate During Hurricane Season <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: Buying a Home? Factor These Into Your Interest Rate Calculations Spotlight: Does realtor.com Really Care About REALTORS®? 5 Spooky Seats to Recline on This Halloween While the immediate danger is gone and hurricane season is winding down, [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/19/tips-industry-professionals-surviving-real-estate-hurricane-season/">Tips From Industry Professionals on Surviving Real Estate During Hurricane Season</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Thu, 19 Oct 2017 20:34:43 Z http://rismedia.com/2017/10/19/tips-industry-professionals-surviving-real-estate-hurricane-season/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:<br /> </em></p> <ul> <li><a href="http://blog.rismedia.com/2017/buying-home-factor-these-your-interest-rate-calculations/">Buying a Home? Factor These Into Your Interest Rate Calculations</a></li> <li><a href="http://blog.rismedia.com/2017/spotlight-does-realtor-com-really-care-realtors/">Spotlight: Does realtor.com Really Care About REALTORS®?</a></li> <li><a href="http://blog.rismedia.com/2017/5-spooky-seats-recline-halloween/">5 Spooky Seats to Recline on This Halloween</a></li> </ul> <p>While the immediate danger is gone and hurricane season is winding down, individuals in the affected areas are still <a href="http://rismedia.com/2017/09/26/brace-impact-look-real-estate-hurricanes-harvey-irma/">working through a recovering market</a>. Most residents of hurricane-prone areas expect storms to hit, but the buyer and seller population may not be familiar with the ramifications of a hurricane that disrupts a real estate transaction.</p> <p>Here&#8217;s what Orlando Regional REALTOR® Association President-Elect Lou Nimkoff and RE/MAX 200 Orlando-based REALTOR® Daniel Wilson have to say about navigating the real estate market during hurricane season:</p> <p><strong>Trust your gut.</strong><br /> Unfortunately, you may come across individuals that try to take advantage of vulnerable homeowners. Following a natural disaster, service &#8220;professionals&#8221; who are not qualified to perform a job may try to overcharge for a service claiming an increase in demand. If not careful, you can wind up with a botched repair that costs you thousands of dollars.</p> <p>&#8220;My No. 1 piece of advice to buyers and sellers post-hurricanes is to be aware of everyone that you’re dealing with and make sure that they’re a trusted name in their industry. During times of distress, a lot of companies try and profit from those in need. For example, make sure the roofer that comes to your door knocking for business is an actual licensed and insured roofer. Better yet, look up the business and find their customer reviews online,&#8221; says Wilson.</p> <p>&#8220;You need to have a home inspector take a look and make sure any work you had done was done properly,&#8221; says Nimkoff.</p> <p><strong>Have patience.  </strong><br /> The market was hit hard and it will take time for everything to settle down. Not all homes are back on the market after sustaining damage during the hurricanes. In a few more weeks, you could be seeing more activity; however, if you do see something you like, it will most likely sell quickly since inventory is low. If a home fits the bill, jump on it before another buyer comes along and claims it.</p> <p>&#8220;I advise buyers to act on the same day the homes get listed if they’re interested, otherwise they will have a very difficult time in getting their offer accepted once there&#8217;s been a multiple offer situation. My theory is: the first agent in the door—with the best offer and continued communication with the other agent—wins!&#8221; says Wilson.</p> <p>&#8220;Because it is a seller&#8217;s market and there is an unusually high number of sellers, buyers want to be able to try and attract them and negotiate with them quickly,&#8221; says Nimkoff.<strong><br /> </strong></p> <p><strong>Get back on the market.</strong><br /> If your home was damaged by the hurricanes and you are trying to sell, fix any issues as quickly as possible so you can get your home back on the market. If your home only sustained minor damage, fix any issues without withdrawing your listing. Time off the market can translate into offers that you could be missing out on. Buyers will start to come out of the woodwork after laying low in the weeks following the hurricanes.</p> <p>&#8220;I have a current seller who needed to have a new roof put on because of the hurricane. We went under contract with a buyer, got insurance to approve the new roof and scheduled a professional to place the new roof on the home—all while still on track with the original closing date of just 30 days from contract to close,&#8221; says Wilson.</p> <p>&#8220;You need to make sure that your insurance values are up-to-date. If you do have a loss, you can quickly have it repaired and you don&#8217;t have to get into a fight with the insurance company. If you suffered some sort of loss, you need to repair it quickly and properly,&#8221; says Nimkoff.</p> <p><strong>Be flexible and keep the end goal in mind. </strong><br /> Do remember that hurricane season can be stressful. Emotions are high for both buyers and sellers. Work together to achieve your goal while avoiding the drama.<strong><br /> </strong></p> <p>&#8220;If you&#8217;re going to buy a house during hurricane season, talk to your landlord and say, &#8216;I need an extra month if I can&#8217;t move into my new house.&#8217; Or if you&#8217;re selling your home, you have the right to delay the home you are selling so you can work out the issue because of a pending hurricane,&#8221; says Nimkoff</p> <p>&#8220;It&#8217;s an awfully tight market. A thousand people a day are moving in here. Don&#8217;t get too focused [on hurricanes] that you forget about the long-term benefits. We have pretty low interest rates right now,&#8221; he adds.</p> <p><em>Liz Dominguez is RISMedia&#8217;s associate content editor. Email her your real estate news ideas at </em><a href="mailto:ldominguez@rismedia.com"><em>ldominguez@rismedia.com</em></a><em>.</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/19/tips-industry-professionals-surviving-real-estate-hurricane-season/">Tips From Industry Professionals on Surviving Real Estate During Hurricane Season</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/19/tips-industry-professionals-surviving-real-estate-hurricane-season/feed/ 0 2017-10-19 20:34 +00:00 2017-10-19 13:34 -07:00 http://money.cnn.com/2017/10/19/real_estate/aston-martin-miami-florida-apartments-condo-tower/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/8dhpf25s5BY/index.html Aston Martin is getting into... luxury real estate?! Aston Martin is getting into the real estate business with a new 66-story residential tower in Miami.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/8dhpf25s5BY" height="1" width="1" alt=""/> Thu, 19 Oct 2017 12:20:08 -0400 http://money.cnn.com/2017/10/19/real_estate/aston-martin-miami-florida-apartments-condo-tower/index.html?section=money_realestate 2017-10-19 12:20 -04:00 2017-10-19 09:20 -07:00 http://rismedia.com/?p=135800 http://rismedia.com/2017/10/18/steps-finding-your-best-mortgage-lender/ Advice Buying/Selling For Your Clients Home Spun Wisdom Latest News Bankrate Home Loan Home-Buying Home-Selling Mortgage Borrower Mortgage Lender real estate news 5 Steps to Finding Your Best Mortgage Lender <p>(TNS)—You&#8217;re buying a home and you need a mortgage. How do you choose the right lender—one that will offer not only the best deal, but also good customer service? You&#8217;ll find no shortage of banks, online lenders, mortgage brokers and other players eager to take your loan application. Here are five tips for selecting the [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/18/steps-finding-your-best-mortgage-lender/">5 Steps to Finding Your Best Mortgage Lender</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Wed, 18 Oct 2017 19:20:45 Z http://rismedia.com/2017/10/18/steps-finding-your-best-mortgage-lender/#respond Susanne Dwyer <p>(TNS)—You&#8217;re buying a home and you need a mortgage. How do you choose the right lender—one that will offer not only the best deal, but also good customer service?</p> <p>You&#8217;ll find no shortage of banks, online lenders, mortgage brokers and other players eager to take your loan application. Here are five tips for selecting the best mortgage lender out of the bunch.</p> <p><strong>Compare Offers and Lenders</strong><br /> Start getting familiar with various lenders and the deals they&#8217;re offering by browsing through mortgage rates.</p> <p>Lenders will &#8220;present price differently,&#8221; notes Robert Davis, an executive vice president at the American Bankers Association (ABA). &#8220;Some lower rates might include fees with it, so the annual percentage rate is different than what you might think.&#8221;</p> <p>Also, understand that some lenders specialize. One might be a good choice if you&#8217;re financing a condo, while others might offer a better deal if you&#8217;re building your home from scratch. You&#8217;ll want to have a general idea of the type of property you&#8217;re interested in.</p> <p><strong>Check With Lenders and People You Know</strong><br /> You might find the right mortgage and the best lender without having to look very far. Go to the bank or credit union where you have a checking or savings account and ask about the types of mortgage deals that are available to current customers.</p> <p>Compare any offer against what other lenders in your area and online and large national lenders will give you.</p> <p>&#8220;Interest rates change as much as three or four times a day, so get quotes from three different (lenders) to increase your odds,&#8221; says Brian Koss, executive vice president of Mortgage Network.</p> <p>Be sure to ask family members and friends for referrals to loan officers and mortgage brokers who gave them good, professional service and helped them find the most competitive loans.</p> <p><strong>Decide: DIY or Hire a Broker?</strong><br /> One important decision is whether to seek out a mortgage and lender completely on your own or use the services of a mortgage broker.</p> <p>A broker can help with your comparison-shopping by gathering quotes from several lenders, but it&#8217;s important to understand that a broker isn&#8217;t obligated to find the deal that&#8217;s best for you.</p> <p>If you decide to work with a mortgage broker, it&#8217;s wise to look at how the loan offers from the broker size up against those you find on your own.</p> <p>Look at differences in rates, fees, mortgage insurance and down payments—and compare what your bottom-line costs will be.</p> <p><strong>Talk With Your Real Estate Agent</strong><br /> Be sure to ask your real estate agent for lender recommendations. Smart loan officers rely on that business and take good care of the clients sent their way by local real estate agents.</p> <p>Keep in mind that agents might have relationships with certain lenders, so when your agent gives you a name, ask whether there is any affiliation.</p> <p>While some real estate brokerages have their own favored in-house mortgage lending businesses, good agents will not limit their referrals to those particular lenders.</p> <p><strong>Be Ready for a Possible Hand-Off</strong><br /> Many lenders will end up selling your mortgage to the secondary market, which means you will likely have a different company servicing your loan than your original lender.</p> <p>This transfer is often outside your control, but you can ask the lender whether it knows if your mortgage will end up being serviced by a different company. If you want a lender you can reach out to immediately if problems arise, finding one who will hold onto your mortgage might be the best option.</p> <p>&#8220;If it&#8217;s important for you to have local contact with the lender, then you&#8217;ve got to go to a bank that keeps your mortgage,&#8221; says Davis.<em><br /> </em></p> <p><em>©2017 Bankrate.com</em></p> <p><em>Distributed by Tribune Content Agency, LLC<br /> </em></p> <p><em>This article is intended for informational purposes only and should not be construed as professional advice. The opinions expressed in this article are those of the author and do not necessarily reflect the position of RISMedia.</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/18/steps-finding-your-best-mortgage-lender/">5 Steps to Finding Your Best Mortgage Lender</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/18/steps-finding-your-best-mortgage-lender/feed/ 0 2017-10-18 19:20 +00:00 2017-10-18 12:20 -07:00 http://rismedia.com/?p=135766 http://rismedia.com/2017/10/17/buying-home-factor-your-interest-rate-calculations/ Advice Buying/Selling For Your Clients Home Spun Wisdom House Canary Latest News CFPB Conventional Loan Credit Score FHA Loan FICO Score Home-Buying Interest Rate Mortgage Rate real estate news RISMedia's Housecall VA Loan Buying a Home? Factor These Into Your Interest Rate Calculations <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: Spotlight: Does realtor.com Really Care About REALTORS®? 5 Spooky Seats to Recline on This Halloween The Most (and Least) Valuable States in America The mortgage process can be complicated if you jump in without any prior knowledge [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/17/buying-home-factor-your-interest-rate-calculations/">Buying a Home? Factor These Into Your Interest Rate Calculations</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Tue, 17 Oct 2017 20:27:53 Z http://rismedia.com/2017/10/17/buying-home-factor-your-interest-rate-calculations/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:<br /> </em></p> <ul> <li><a href="http://blog.rismedia.com/2017/spotlight-does-realtor-com-really-care-realtors/">Spotlight: Does realtor.com Really Care About REALTORS®?</a></li> <li><a href="http://blog.rismedia.com/2017/5-spooky-seats-recline-halloween/">5 Spooky Seats to Recline on This Halloween</a></li> <li><a href="http://blog.rismedia.com/2017/least-valuable-states-america/">The Most (and Least) Valuable States in America</a></li> </ul> <p>The mortgage process can be complicated if you jump in without any prior knowledge on home-buying and lending. The best tool you can arm yourself with is an understanding of how your mortgage interest rate is calculated.</p> <p><strong>Credit can make or break you.<br /> </strong></p> <p>Your credit score will determine how reliable you are in the lending world. The higher your score, the lower your interest rate will likely be. Check your credit on one of the three major credit reporting agency sites—TransUnion, Experian and Equifax—or your credit card company may have a free credit report service (although these aren&#8217;t as reliable). <a href="http://rismedia.com/2017/09/12/learning-abcs-fico/">Improve your FICO score</a> for a better chance at a lower interest rate.</p> <p><strong>Factor in size and</strong> <strong>location.</strong></p> <ul> <li><strong>State or County</strong>: Even your place of residence can affect your rate.</li> <li><strong>Local Mortgage Lenders</strong>: Shop around. Interest rates can vary from company to company even if they&#8217;re located in the same town.</li> <li><strong>Loan Size</strong>: The size of your home can also impact your interest rate. The bigger the loan, the higher your interest rate will be if you&#8217;re not putting more money down.</li> <li><strong>Down Payment Size</strong>: Your mortgage interest rate may also depend on <a href="http://rismedia.com/2017/09/12/infographic-down-payment-savings-tips/">how much you&#8217;re putting down</a> and if your loan includes closing costs and private mortgage insurance (PMI). Putting down less than 20 percent can increase your risk factor and may require PMI, but your interest rate may be lower depending on the loan.<strong><br /> </strong></li> </ul> <p><strong>Not all loans are created equal.</strong></p> <p><strong>Loan Length</strong>: Your loan terms play a bigger role in interest rate calculations than you think. Have you decided whether you want to pay off your loan in 15 or 30 years? You may pay more per month with a shorter term, but you&#8217;ll be paying less interest over the life of your loan. Short-term loans may also have a smaller interest rate.</p> <p><strong>Fixed or Adjustable</strong>: You&#8217;ll also have to consider whether a fixed- or adjustable-rate loan is right for you. Your interest rate can change over time if you choose an adjustable-rate loan. It may start off low or fixed, but can increase over time depending on market conditions. Fixed-rate loans, however, will have a higher interest rate attached to them.</p> <p><strong>Loan Type</strong>: Interest rates can also vary according to your loan type. Choosing a loan can be overwhelming, but a local lender should be able to provide you with the best options. Some of the more popular loans are conventional, <a href="http://rismedia.com/2017/09/10/how-qualify-fha-mortgage/">FHA</a> and VA loans. While FHA loans have less down payment restrictions and a smaller interest rate, your monthly payment can be more expensive due to the required PMI added on. VA loans can have smaller interest rates and don&#8217;t require PMI like FHA does. Conventional loans are widely accepted in the real estate industry as dependable, but your interest rate may be higher.</p> <p><em>Source: </em><a href="https://www.consumerfinance.gov/about-us/blog/7-factors-determine-your-mortgage-interest-rate/" target="_blank"><em>Consumer Financial Protection Bureau (CFPB)</em></a></p> <p><em>Liz Dominguez is RISMedia&#8217;s associate content editor. Email her your real estate news ideas at </em><a href="mailto:ldominguez@rismedia.com"><em>ldominguez@rismedia.com</em></a><em>.</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/17/buying-home-factor-your-interest-rate-calculations/">Buying a Home? Factor These Into Your Interest Rate Calculations</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/17/buying-home-factor-your-interest-rate-calculations/feed/ 0 2017-10-17 20:27 +00:00 2017-10-17 13:27 -07:00 http://rismedia.com/?p=135724 http://rismedia.com/2017/10/16/on-house-what-expect-time-get-your-home-inspected/ Advice Buying/Selling For Your Clients Home Spun Wisdom Latest News Home Inspection Tips Home Inspector Home-Buying real estate news On the House: What to Expect When It’s Time to Get Your Home Inspected <p>(TNS)—Buying a house can be difficult enough—especially in today&#8217;s market. Even after a seller accepts an offer, the sale is not a done deal until certain &#8220;contingencies&#8221; are met. Some are straightforward: Some buyers stipulate, for example, that a sale cannot proceed until they sell their current home. Other contingencies are more complicated. Either way, [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/16/on-house-what-expect-time-get-your-home-inspected/">On the House: What to Expect When It&#8217;s Time to Get Your Home Inspected</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Mon, 16 Oct 2017 20:04:43 Z http://rismedia.com/2017/10/16/on-house-what-expect-time-get-your-home-inspected/#respond Susanne Dwyer <p>(TNS)—Buying a house can be difficult enough—especially in today&#8217;s market.</p> <p>Even after a seller accepts an offer, the sale is not a done deal until certain &#8220;contingencies&#8221; are met. Some are straightforward: Some buyers stipulate, for example, that a sale cannot proceed until they sell their current home. Other contingencies are more complicated. Either way, all are in place to protect buyers and sellers, allowing either to walk away from a deal if their conditions are not met.</p> <p>Navigating these contract conditions can be confusing, and in today&#8217;s hot real estate market in which some buyers are waiving contingencies in order to win bidding wars, it can be difficult to determine which are important.</p> <p>These days, real estate agents say they have seen buyers waive inspection contingencies to make their offers more attractive. In doing so, buyers are forgoing their rights to an independent inspection, meaning they cannot ask the seller for repairs or walk away from a property if it turns out to be unsatisfactory. In short, buyers are accepting a house as is—and potentially, all of its hidden problems.</p> <p>To help buyers decide how important independent inspections are, we spoke to real estate agents and inspectors about what goes into a home inspection, and whether waiving that condition is a good idea.</p> <p><strong>What exactly is a home inspection?</strong><br /> In most typical real estate transactions, a home inspection is the next step that occurs after a bid is accepted. Buyers are responsible for hiring the inspector before the deal closes, and the process is in place to protect them.</p> <p>The inspector&#8217;s job is to examine a home, determining whether there are problems with its exterior or interiors, from the foundation to the roof. The inspector provides a report to a buyer, who can then bring that information to a seller and use it back at the bargaining table.</p> <p><strong>How quickly do I have to schedule one?</strong><br /> &#8220;It depends on the contract and the state you&#8217;re in,&#8221; says Frank Lesh, executive director of the American Society of Home Inspectors. But typically, he adds, buyers have five to 10 days after a home goes under contract.</p> <p>Lesh&#8217;s advice: Once a home is under contract, contact an inspector immediately.</p> <p>&#8220;Inspectors are busy, especially in hot markets,&#8221; he says. &#8220;Some people tend to forget and wait until the last minute. You really only have a few days.&#8221;<strong><br /> </strong></p> <p><strong>How can I find a well-respected home inspector?</strong><br /> Regulations for home inspectors differ across the United States. In New Jersey, for instance, inspectors are licensed and regulated by the state&#8217;s Home Inspection Advisory Committee. To become certified, inspectors must, by law, complete 180 hours of study courses, including 40 hours of unpaid field work in the presence of a licensed inspector. Each inspector must pass a national exam, and complete continuing education every other year.</p> <p>In Pennsylvania, by contrast, home inspectors are not regulated by the state, and instead are required to be a &#8220;member in good standing of a national home inspection association,&#8221; such as the American Society of Home Inspectors (ASHI) or the International Association of Certified Home Inspectors (interNACHI). Each association has its own requirements on certification and continuing education; for example, ASHI requires inspectors to pass the national exam and to complete 250 inspections to become certified. Continuing education is also required.</p> <p><strong>What does my home inspection cover?</strong><br /> A general home inspection is a noninvasive exam of a seller&#8217;s home.</p> <p>&#8220;The standards of practice are pretty uniform,&#8221; says Pete Ciliberto, owner and chief inspector of Real Estate Inspections, an inspection group. &#8220;We are covering all the major components and systems of a house—all of the structural elements, the foundation, exposed framing,&#8221; and more.</p> <p>What that means: A general inspector will inspect the general structure of the roof, and the gutters and downspouts around it. He or she will make sure the home&#8217;s &#8220;flashing&#8221;—the thin layer of waterproof material that prevents water from getting into where it does not belong—is correct. The heating and air conditioning systems are also inspected to ensure they are up to snuff. So are ceilings and floors, chimneys and vents. The ventilation of attics is inspected, and a generalized overview of electrical systems is completed.</p> <p>&#8220;There are probably over 200 things that we inspect,&#8221; Lesh says.</p> <p><strong>What does it not include?</strong><br /> Many things are not included, inspectors say. An inspection is not technically exhaustive, they pointed out, nor does it determine a property&#8217;s suitability. Inspectors are not required to determine whether a building is up to code, and they are not required to move furniture, enter crawlspaces, or offer any services besides the inspection.</p> <p>Most important, the experts said, inspectors are not required to determine the presence of rodents or pests. They are not required to assess air quality or test for mold, mildew or fungus. Airborne and environmental hazards are also excluded, meaning radon, lead paint and asbestos tests are not conducted in a general inspection.</p> <p>However, buyers can bring in specialists if they have particular concerns—or hire a general inspector who may be trained in a specialized area.</p> <p>&#8220;There are guys who do mold testing, air sampling, and other ancillary services,&#8221; Lesh says. &#8220;If you want one person to take care of the whole thing, you can (find someone) to do that.&#8221;</p> <p><strong>Why should I get one—and should I waive that contingency?</strong><br /> When making a financial decision as significant as purchasing a home, you want to confirm that you are making a wise investment. While inspections are not holistic, they offer a snapshot of a home&#8217;s condition, and can give you fair warning of what repairs may be needed now or in the near future. Plus, agents point out, after an inspection report is issued, a buyer can use the report to ask a seller for repairs—or can walk away entirely.</p> <p>&#8220;They can ask for anything they want or can terminate for any reason—they do not have to say why,&#8221; says Mike McCann, a real estate agent with Berkshire Hathaway HomeServices Fox &amp; Roach, REALTORS®, which has offices in the Mid-Atlantic region. &#8220;The fall-through rate is only about 10 to 15 percent of the time, but I will tell you now, over 90 percent of the time, concessions are made after the inspections.&#8221;</p> <p>McCann says he advises clients to never waive the inspection.</p> <p>&#8220;If they don&#8217;t own the home, there are many things about it that they don&#8217;t know yet. You can&#8217;t check the roof. You can&#8217;t see every joist. Having a professional go through that is very important.&#8221;</p> <p><em>©2017 The Philadelphia Inquirer</em></p> <p><em>Distributed by Tribune Content Agency, LLC</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/16/on-house-what-expect-time-get-your-home-inspected/">On the House: What to Expect When It&#8217;s Time to Get Your Home Inspected</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/16/on-house-what-expect-time-get-your-home-inspected/feed/ 0 2017-10-16 20:04 +00:00 2017-10-16 13:04 -07:00 http://rismedia.com/?p=135702 http://rismedia.com/2017/10/15/buying-sellers-market-whos-winner/ Advice Buying/Selling For Your Clients House Canary Latest News Trending Buyer's Market Home-Buying Home-Selling real estate news RISMedia's Housecall Seller's Market Buying in a Seller’s Market: Who’s the Winner? <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: Crowdfunding Your Way Into a Home Great Spaces: Living Luxe in Beautiful Bradenton Survey: Broker Operations and Technology The change of season often brings a shift in real estate market conditions. Inventory tends to decline and buyers [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/15/buying-sellers-market-whos-winner/">Buying in a Seller&#8217;s Market: Who&#8217;s the Winner?</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Sun, 15 Oct 2017 17:01:16 Z http://rismedia.com/2017/10/15/buying-sellers-market-whos-winner/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:</em></p> <ul> <li><a href="http://blog.rismedia.com/2017/crowdfunding-way-home/">Crowdfunding Your Way Into a Home</a></li> <li><a href="http://blog.rismedia.com/2017/great-spaces-living-lux-in-beautiful-bradenton/">Great Spaces: Living Luxe in Beautiful Bradenton</a></li> <li><a href="http://blog.rismedia.com/2017/survey-broker-operations-technology/">Survey: Broker Operations and Technology</a></li> </ul> <p>The change of season often brings a shift in real estate market conditions. Inventory tends to decline and buyers may become more aggressive in their home search. This change can affect real estate transactions in a variety of ways.</p> <p>Here&#8217;s what you need to know about buying or selling a home in a seller&#8217;s market:<strong><br /> </strong></p> <p><strong>Time is valuable.</strong><br /> Buyers don&#8217;t have as many options as during the peak purchasing months. This means more competition because there aren&#8217;t as many homes to look at in their price points. Buyers need to know what they want. If they absolutely need three bedrooms, then they&#8217;ll have to ignore that two-bedroom house or risk losing out on better opportunities.</p> <p>They will also need to be prepared to make offers quickly. Buyers without a preapproval will not be considered and will likely miss out on highest and best deadlines by the time they obtain one. On the other hand, sellers will have an easier time selling their home. If in good condition, their home will likely be the cream of the crop during low-inventory months.</p> <p><strong>Offers are aggressive.<br /> </strong>In a seller&#8217;s market, buyers will often have to deal with multiple-offer situations. If they don&#8217;t bring their best offer to the table, they will most likely lose out. Sellers can also prioritize stronger terms. They may decide to go with a lower offer if the buyer can close faster or is putting more money down.</p> <p>A combination of the highest purchase price with a 20 percent down payment and a reliable lender is usually the winner. Of course, you can&#8217;t forget that cash is king. An all-cash offer will likely trump any others on the table.</p> <p><strong>Negotiations are a game changer.<br /> </strong>Unfortunately, buyers may lose some negotiating power in a seller&#8217;s market. Unless the seller is incredibly motivated to get rid of their property, they may take advantage by refusing to take care of some inspection items. Buyers should be wary of asking for too much, as even big-ticket items may not be taken care of. Unless something is a safety or health hazard, it shouldn&#8217;t even be brought up.</p> <p>Sellers may also decide to be more selective about what they are leaving with the house. They may decide not to include appliances such as a refrigerator, dishwasher or washer and dryer.</p> <p>Even small things like tone in a negotiation email should be taken into consideration. Alienating the sellers this early in the game can force them to go with a back-up offer.</p> <p><strong>Real estate agents are essential.<br /> </strong>Even though a seller&#8217;s market clearly tips the scale in one direction, buyers are more likely to lose out if they are not working with an experienced agent. Likewise, sellers may not even be aware of their advantage without the help of a real estate professional. Agents will advocate for their clients—whether they are buyers or sellers—by helping them get as much as possible during sale price and inspection negotiations.</p> <p>Things that may not seem significant—such as getting all of the paperwork submitted correctly, sending emails to the opposing agent and doing due diligence on the property—can make a huge difference in a seller&#8217;s market.</p> <p><em>Liz Dominguez is RISMedia&#8217;s associate content editor. Email her your real estate news ideas at </em><a href="mailto:ldominguez@rismedia.com"><em>ldominguez@rismedia.com</em></a><em>.</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/15/buying-sellers-market-whos-winner/">Buying in a Seller&#8217;s Market: Who&#8217;s the Winner?</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/15/buying-sellers-market-whos-winner/feed/ 0 2017-10-15 17:01 +00:00 2017-10-15 10:01 -07:00 http://money.cnn.com/2017/10/12/pf/buy-first-home/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/l0CeL0Qau4k/index.html How to buy your first home Buying a home is one of the most -- if not the most -- significant purchases of your adult life. So, you'll want to make sure you're really ready.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/l0CeL0Qau4k" height="1" width="1" alt=""/> Thu, 12 Oct 2017 11:33:25 -0400 http://money.cnn.com/2017/10/12/pf/buy-first-home/index.html?section=money_realestate 2017-10-12 11:33 -04:00 2017-10-12 08:33 -07:00 http://rismedia.com/?p=135438 http://rismedia.com/2017/10/09/crowdfunding-your-way-home/ Advice Buying/Selling Consumer For Your Clients House Canary Latest News News Trending Crowdfunding Down Payment Fannie Mae Freddie Mac GMC Financial HomeFundMe Mortgage real estate news RISMedia's Housecall Crowdfunding Your Way Into a Home <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: Great Spaces: Living Luxe in Beautiful Bradenton Survey: Broker Operations and Technology Relaxation Awaits: 2018 Best Places to Retire Crowdfunding has appeared in the real estate industry in a variety of forms: house flip investing, mortgage payoff [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/09/crowdfunding-your-way-home/">Crowdfunding Your Way Into a Home</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Mon, 09 Oct 2017 20:11:03 Z http://rismedia.com/2017/10/09/crowdfunding-your-way-home/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:<br /> </em></p> <ul> <li><a href="http://blog.rismedia.com/2017/great-spaces-living-lux-in-beautiful-bradenton/">Great Spaces: Living Luxe in Beautiful Bradenton</a></li> <li><a href="http://blog.rismedia.com/2017/survey-broker-operations-technology/">Survey: Broker Operations and Technology</a></li> <li><a href="http://blog.rismedia.com/2017/relaxation-awaits-2018-best-places-to-retire/">Relaxation Awaits: 2018 Best Places to Retire</a></li> </ul> <p>Crowdfunding has appeared in the real estate industry in a variety of forms: house flip investing, mortgage payoff and down payment support. High fees and legality issues have made it difficult for the popular funding method to be taken seriously within U.S. real estate markets.</p> <p>A new crowdfunding platform—HomeFundMe—was recently launched by CMG Financial, a privately-held mortgage banking firm. This could be a game changer, since it&#8217;s the first crowdfunding service approved by Fannie Mae and Freddie Mac.</p> <p><strong>Here&#8217;s what CMG financial says about HomeFundMe:</strong></p> <ul> <li>No fees for using the service (Anything deposited into HomeFundMe can be used towards the buyer&#8217;s down payment.)</li> <li>Better loan terms, more buying opportunities and the possibility of getting rid of or lowering mortgage insurance</li> <li>Potential to receive a grant ranging from $1,000 to $2,500 in exchange for completing required homebuyer education or housing counseling.</li> <li>Matching donations ($2 for every $1) up to the grant limits once the counseling is completed</li> </ul> <p>While over 100 people have already used the platform, Fannie Mae and Freddie Mac have only approved the service on a trial basis until June 2018. The mortgage giants are keeping a close eye on results before giving it their stamp of approval.</p> <p>There are a few caveats, of course. Borrowers must first be pre-approved for a mortgage by CMG Financial in order to use the crowdfunding service, which is limited to $7,500 in gifted funds. The loan must also be a Fannie Mae- or Freddie Mac-approved loan (their 30-, 20- and 15-year fixed loans are eligible, as well). In addition, borrowers must earn less than their area&#8217;s median income in order to qualify for matching contributions/grants.</p> <p>This method will force borrowers into CMG Financial&#8217;s rates and fees. Millennial and Gen Z buyers, who are most likely to use such a service because of challenges in obtaining a down payment, will not be able to shop around for the lowest rate—a huge snag that may turn off borrowers from the crowdfunding service.</p> <p>While other services charge fees and may complicate loan processing, borrowers will have to compare costs, as they may be able to save by using an alternative lender.</p> <p><strong>Here are some other crowdfunding options:</strong></p> <ul> <li><strong>HomeFunded</strong>: 5 percent usage fee on total funds and 2.9 percent for processing each transaction</li> <li><strong>GoFundMe</strong>: 5 percent usage fee per donation and 2.9 percent plus $0.30 for processing each transaction</li> <li><strong>FeathertheNest</strong>: 5 percent usage fee per donation and 2.9 percent plus $0.30 for processing each transaction</li> <li><strong>Honeyfund:</strong> No usage fee and 2.8 percent plus $0.30 for processing each transaction</li> </ul> <p>Keep in mind that these services may come with additional gifting restrictions in the lending world. Most Fannie, Freddie and FHA loans only allow gifted down payment funds from family and close friends. Loan processing may also be more time consuming if using these services, and you stand the chance of being rejected by lenders.</p> <p>Crowdfunding may be a quicker way of amassing down payment reserves, but it can be a complicated process—extending your mortgage commitment dates or even threatening your loan approval. It may, however, be a useful option for borrowers who are dealing with high student loan or other debt payments and can&#8217;t afford to save.</p> <p>If given final approval, HomeFundMe may open the door to a widespread financial backing of crowdfunding services in the real estate industry.</p> <p><em>Liz Dominguez is RISMedia&#8217;s associate content editor. Email her your real estate news ideas at </em><a href="mailto:ldominguez@rismedia.com"><em>ldominguez@rismedia.com</em></a><em>.</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/09/crowdfunding-your-way-home/">Crowdfunding Your Way Into a Home</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/09/crowdfunding-your-way-home/feed/ 0 2017-10-09 20:11 +00:00 2017-10-09 13:11 -07:00 http://money.cnn.com/2017/10/09/real_estate/rent-or-buy/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/iLg94an2-Pk/index.html Should you rent or buy a home? Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/iLg94an2-Pk" height="1" width="1" alt=""/> Mon, 09 Oct 2017 10:32:51 -0400 http://money.cnn.com/2017/10/09/real_estate/rent-or-buy/index.html?section=money_realestate 2017-10-09 10:32 -04:00 2017-10-09 07:32 -07:00 http://rismedia.com/?p=135269 http://rismedia.com/2017/10/04/give-your-home-facelift-home-improvement-projects/ Advice Buying/Selling Home Improvement Home Spun Wisdom How-To Latest News Energy Audit Home Improvement Projects Home Maintenance Landscaping real estate news RISMedia's Housecall Give Your Home a Facelift: Home Improvement Projects for Less Than $500 <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: 4 Reasons Why Bamboo Is Taking Home Decor by Storm Know Your Model, Work It Well Brighter, Faster—but Not Stronger? Breaking Down the iPhone 8 Home improvement doesn&#8217;t have to break the bank. You can freshen up [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/04/give-your-home-facelift-home-improvement-projects/">Give Your Home a Facelift: Home Improvement Projects for Less Than $500</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Wed, 04 Oct 2017 20:03:15 Z http://rismedia.com/2017/10/04/give-your-home-facelift-home-improvement-projects/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:<br /> </em></p> <ul> <li><a href="http://blog.rismedia.com/2017/4-reasons-bamboo-taking-home-decor-storm/">4 Reasons Why Bamboo Is Taking Home Decor by Storm</a></li> <li><a href="http://blog.rismedia.com/2017/know-model-work-well/">Know Your Model, Work It Well</a></li> <li><a href="http://blog.rismedia.com/2017/brighter-faster-not-stronger-breaking-iphone-8/">Brighter, Faster—but Not Stronger? Breaking Down the iPhone 8</a></li> </ul> <p>Home improvement doesn&#8217;t have to break the bank. You can freshen up the spaces in your home or investment property with a number of small projects that cost less than $500, and make you feel like you spent a lot more! Here are some basic ideas.</p> <p><strong>Paint Power</strong><br /> Painting is one of the cheapest and easiest home improvements to make. A fresh coat of paint will make any room look as good as new, which is sure to add value. Choose colors that are popular to give a more modern, up-to-date look, or stick to the neutral classic colors. At around $25 a gallon, paint is an inexpensive way to improve your home&#8217;s desirability and is something that just about any homeowner can tackle on their own. While you&#8217;re at it, look up—do you have that outdated popcorn ceiling? Scrape that texture away to get rid of the dated looking ceilings.</p> <p><strong>Borrow Ideas</strong><br /> Instead of hiring a designer who will inevitably give you a lot of expensive ideas, such as tearing down walls or pulling up perfectly good flooring, just copy what others have done. You can find all sorts of ideas in books and magazines and on interior decorating TV shows, Pinterest and other websites. To keep to a tight budget, pick projects that can be completed yourself.</p> <p><strong>Get an Energy Audit</strong><br /> Take advantage of your utility company&#8217;s free energy audits to determine which improvements could save you hundreds (or thousands!) of dollars in utility costs each year. Most local utility companies will come and inspect your house for free, and the improvements are generally going to have some sort of tax rebate. Having an energy-efficient home is a salable improvement, or, if you plan on staying in the home for the long haul, you can put the money saved toward a different home improvement.</p> <p><strong>Plant a Tree</strong><br /> <a href="https://www.rentecdirect.com/blog/rules-lawn-care/" target="_blank">Landscaping</a> will improve the curb appeal of your home greatly. Trees provide shade to keep the harmful rays of the sun from bleaching out your paint or heating up the inside of the house. Mature landscaping is a huge plus when trying to sell a home and is frequently sought after. When choosing which species or varieties to plant, it is important to take into consideration the water and maintenance requirements of the plants. Purchasing drought-tolerant plants that are slow or moderate growers will save you hours of yard work and money in the long run. Keeping the yard well maintained will help keep the property looking nice and tidy without investing a huge amount of money.</p> <p><strong>Keep It Clean</strong><br /> Keeping a home clean and <a href="https://www.letstalkpm.com/blog/guide-to-fighting-clutter" target="_blank">clutter-free</a> will leave a good impression. Get rid of the things you don&#8217;t need and &#8220;travel light.&#8221; You&#8217;ll be happy if you ever decide to sell the home that you don&#8217;t have a bunch of extraneous stuff to haul around with you or decide what to do with when you are in the middle of moving. If you are selling, it&#8217;s often difficult to make the house <a href="https://www.rentecdirect.com/blog/spring-cleaning-tips-infographic/" target="_blank">sparkle from top to bottom</a>, so hire a cleaning service to really give the home a thorough cleaning. It&#8217;s worth the money.</p> <p><strong>Fake the Footage</strong><br /> Houses are often analyzed by price per square foot to help determine if it&#8217;s a good deal or not, but the feel and layout of the home can make the house appear bigger than it really is. Keeping the rooms light and airy by choosing light paint, furniture and window coverings can create a feeling of extra space. Adding a large mirror can double the room&#8217;s size just by creating that mirror image. An uncluttered home will make the space look bigger and more open. Have a big garage sale to get rid of the unnecessary clutter and put that money towards other home improvements.</p> <p><strong>New Fixtures</strong><br /> Nothing dates a home like old fixtures. Replacing old lights, faucets, door handles, etc. with updated fixtures really can change the look and feel of a home. The cost of fixtures do add up quickly, so shop around and start with rooms that receive the most traffic, such as bathrooms, the family room and kitchen. Updating these core rooms in the home can give you the biggest impact for the money.</p> <p>These small improvements can make your home more pleasant for everyday living and give you a feeling of confidence when sharing your space with guests. In addition, if you are planning to sell your home, putting the time and money into small improvements can increase the value and pay off big in the end—quite a bit more than $500!</p> <p><em>Kaycee Wegener manages marketing and media relations for </em><a href="http://www.rentecdirect.com/" target="_blank"><em>Rentec Direct</em></a><em> and shares industry news, products and trends within the community.</em></p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/04/give-your-home-facelift-home-improvement-projects/">Give Your Home a Facelift: Home Improvement Projects for Less Than $500</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/04/give-your-home-facelift-home-improvement-projects/feed/ 0 2017-10-04 20:03 +00:00 2017-10-04 13:03 -07:00 http://rismedia.com/?p=135112 http://rismedia.com/2017/10/01/how-make-buying-beach-house-affordable-thing-do/ Advice Buying/Selling Home Spun Wisdom How-To Latest News Airbnb Beach House Beach House Rental real estate news RISMedia's Housecall How to Make Buying a Beach House an Affordable Thing to Do <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: Great Spaces: Emily Blunt and John Krasinksi&#8217;s Park Slope Pad 4 Ways to Host an Effective Open House Can&#8217;t Beat the Real Thing: Following Coke&#8217;s Lead to an Unfair Advantage The dream of purchasing a beach house [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/01/how-make-buying-beach-house-affordable-thing-do/">How to Make Buying a Beach House an Affordable Thing to Do</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Sun, 01 Oct 2017 17:04:20 Z http://rismedia.com/2017/10/01/how-make-buying-beach-house-affordable-thing-do/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:<br /> </em></p> <ul> <li><a href="http://blog.rismedia.com/2017/emily-blunt-john-krasinskis-park-slope-pad/">Great Spaces: Emily Blunt and John Krasinksi&#8217;s Park Slope Pad</a></li> <li><a href="http://blog.rismedia.com/2017/4-ways-host-effective-open-house/">4 Ways to Host an Effective Open House</a></li> <li><a href="http://blog.rismedia.com/2017/cant-beat-real-thing-following-cokes-lead-unfair-advantage/">Can&#8217;t Beat the Real Thing: Following Coke&#8217;s Lead to an Unfair Advantage</a></li> </ul> <p>The dream of purchasing a beach house is potentially one that you&#8217;ve had since you were a teenager or young adult; however, setting aside the money for this venture is an entirely different project. Instead of continuing to watch your dream shrink, consider some strategies for making a beach house a reality.</p> <p><strong>Look for Less Desirable Locations</strong><br /> In your view, any house on the beach is likely in a desirable location, but that really depends upon what the buyer is looking for. One thing that you should consider is how the school district can have a significant effect on the price of a house. If you are looking for a summer home or you may not have children, the quality of the school district may not affect you at all. As a result, you can buy in a community that has a school district of a lower quality, which will likely mean a lower price.<strong><br /> </strong></p> <p><strong>Research Seasonal Communities</strong><br /> When you&#8217;re looking to purchase a house, you might think you need to buy a place that is yours to visit throughout the year; however, that isn&#8217;t necessarily the case. You may be able to find a home in a community that is only open to residents for a set number of months per year. During the colder seasons, it may close down. Due to the fact that you&#8217;re unable to inhabit the house year-round, you may have a greater chance of procuring a lower price.</p> <p><strong>Rent the House</strong><br /> A <a href="http://www.buddyblake.com/carolina-beach/" target="_blank">beach house</a> is a desirable location for many people, which provides you with the opportunity to rent it to them. You could rent your house out on AirBnB, for example. Some people decide to rent their houses out for the majority of the year and spend a short amount of vacation time there themselves, and others choose to just rent the house during peak seasons. You can decide what works for you.<strong><br /> </strong></p> <p><strong>Buy a Smaller House</strong><br /> In most cases, people looking to buy beach houses are not planning to live there during the entire year. As a result, you probably don&#8217;t need a prodigious beach house. Even when you want to make the beach house your full-time residence, ask yourself what you are willing to sacrifice to get a house on the beach. When you don&#8217;t intend to have children, one or two bedrooms in a house might be just right.</p> <p>Thinking about buying a beach house might feel overwhelming to you because of the perceived costs; however, you can actually make this wish a reality.</p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/10/01/how-make-buying-beach-house-affordable-thing-do/">How to Make Buying a Beach House an Affordable Thing to Do</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/10/01/how-make-buying-beach-house-affordable-thing-do/feed/ 0 2017-10-01 17:04 +00:00 2017-10-01 10:04 -07:00 http://money.cnn.com/2017/09/29/real_estate/london-real-estate-property-home-prices-fall/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/Jr42F3ExO0w/index.html Brexit bust? London home prices fall for 1st time in 8 years Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/Jr42F3ExO0w" height="1" width="1" alt=""/> Fri, 29 Sep 2017 09:55:09 -0400 http://money.cnn.com/2017/09/29/real_estate/london-real-estate-property-home-prices-fall/index.html?section=money_realestate 2017-09-29 09:55 -04:00 2017-09-29 06:55 -07:00 http://money.cnn.com/2017/09/28/real_estate/toronto-real-estate-property-housing/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/Nvgbw8aQXq8/index.html Toronto faces highest risk of a housing bubble Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/Nvgbw8aQXq8" height="1" width="1" alt=""/> Thu, 28 Sep 2017 11:51:01 -0400 http://money.cnn.com/2017/09/28/real_estate/toronto-real-estate-property-housing/index.html?section=money_realestate 2017-09-28 11:51 -04:00 2017-09-28 08:51 -07:00 http://rismedia.com/?p=134313 http://rismedia.com/2017/09/18/real-estate-deal-breakers-how-fix-them-efficiently/ Advice Buying/Selling For Your Clients Home Spun Wisdom Latest News Home Appraisal Home Inspection Home Staging Home-Buying Home-Selling real estate news Real Estate Transaction RISMedia's Housecall Title Insurance 4 Real Estate Deal-Breakers and How to Fix Them Efficiently <p>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at blog.rismedia.com: Live in a Loud Area? Here&#8217;s How to Reduce Sound Inside Your Home Fall Maintenance for Your Rental Properties 6 Tips for Preparing Your Home for Hurricane Season The real estate sales process can be stressful and [&#8230;]</p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/09/18/real-estate-deal-breakers-how-fix-them-efficiently/">4 Real Estate Deal-Breakers and How to Fix Them Efficiently</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> Mon, 18 Sep 2017 20:36:12 Z http://rismedia.com/2017/09/18/real-estate-deal-breakers-how-fix-them-efficiently/#respond Susanne Dwyer <p><em>Editor&#8217;s Note: This was originally published on RISMedia&#8217;s blog, Housecall. See what else is cookin&#8217; now at </em><a href="http://blog.rismedia.com"><em>blog.rismedia.com</em></a><em>:<br /> </em></p> <ul> <li><a href="http://blog.rismedia.com/2017/reduce-sound/">Live in a Loud Area? Here&#8217;s How to Reduce Sound Inside Your Home</a></li> <li><a href="http://blog.rismedia.com/2017/fall-maintenance-rental-properties/">Fall Maintenance for Your Rental Properties</a></li> <li><a href="http://blog.rismedia.com/2017/tips-preparing-home-hurricanes/">6 Tips for Preparing Your Home for Hurricane Season</a></li> </ul> <p>The real estate sales process can be stressful and seemingly complicated. Even a relatively smooth process can take ample negotiations and may require weeks to pass before you can close on the transaction. Some deals are increasingly complicated, and major roadblocks may develop that threaten the entire project. These are a few of the more significant factors that buyers and sellers may run into during the real estate sales process that could potentially prevent the deal from going through as planned.</p> <p><strong>Unpleasant Decor</strong><br /> Unpleasant decor is something that buyers notice immediately, and some will only make an offer on the home contingent to some decorative updates being completed before closing. For example, some buyers may detest bold paint colors on the walls or may feel that the decor in the kitchens and bathrooms is too outdated; however, sellers may believe that the home is priced appropriately for the as-is condition and that they should not make concessions because of decor. Both real estate agents need to review sales comps in the area to determine if other homes selling in this price range have similar decor or if they have recently been upgraded. The agents should make the buyer and seller aware of realistic expectations based on market conditions, and one or both parties may need to make concessions based on a sales price and property condition that is justified by the market.</p> <p><strong>Major Repair Issues</strong><br /> Home repair issues may be known by both parties before a property inspection is complete, but the inspection report can potentially reveal more issues that have not been discussed. Many buyers may try to negotiate to have repair work completed before closing. You may consider taking a course on renovations (like <a href="https://www.slideshare.net/RulesofReno" target="_blank">Rules of Renovation</a>) and other significant home improvement projects before you agree to take on any huge projects as a buyer or a seller. These courses can help you to better estimate the cost and time it will take to complete the work that is needed.</p> <p><strong>A Low Appraised Value</strong><br /> Many buyers will apply for a home loan to pay for their purchase. Mortgage lenders typically offer a loan amount that is a percentage of the sales price or appraised value, and they will take the lesser of these two figures into consideration. This means that an appraised value that comes in lower than the sales price could reduce the loan amount to an uncomfortable amount for the buyer. More than that, the buyer may not want to pay more money for a house than it is worth. The feasible options are for the seller to lower the sales price or to work with the appraiser to increase the appraised value.</p> <p><strong>Title Issues</strong><br /> It is customary to review the title history on a property before finalizing a purchase, and this is a required step for anyone who is applying for a mortgage loan. This process essentially determines if the seller clearly holds title to the property or what obstacles need to be cleared before the seller can convey title to the buyer at closing. Some issues are minor and can easily be dealt with prior to closing by the title company and the seller. In some cases, however, a real estate lawyer needs to be contacted to resolve the matter.</p> <p>Many real estate deals will close without a hitch, but many others will develop one or several of these issues. Many issues can be overcome when the buyer and seller work together and when enough time and patience is given to resolve the issues. You may also have to use third-party services, such as a title company or real estate lawyer, to address the issue properly.</p> <p><em>For the latest </em><a href="http://www.rismedia.com"><em>real estate news and trends</em></a><em>, bookmark RISMedia.com.</em></p> <p>The post <a rel="nofollow" href="http://rismedia.com/2017/09/18/real-estate-deal-breakers-how-fix-them-efficiently/">4 Real Estate Deal-Breakers and How to Fix Them Efficiently</a> appeared first on <a rel="nofollow" href="http://rismedia.com">RISMedia</a>.</p> http://rismedia.com/2017/09/18/real-estate-deal-breakers-how-fix-them-efficiently/feed/ 0 2017-09-18 20:36 +00:00 2017-09-18 13:36 -07:00 http://money.cnn.com/2017/08/22/investing/china-wanda-london-nine-elms-real-estate-deal/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/anbMgAeI5Ks/index.html Chinese billionaire dumps huge London real estate deal One of China's richest men drops plans to buy $600 million of London real estate as his overseas deal-making comes under scrutiny from the Chinese government.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/anbMgAeI5Ks" height="1" width="1" alt=""/> Tue, 22 Aug 2017 08:09:03 -0400 http://money.cnn.com/2017/08/22/investing/china-wanda-london-nine-elms-real-estate-deal/index.html?section=money_realestate 2017-08-22 08:09 -04:00 2017-08-22 05:09 -07:00 http://money.cnn.com/2017/06/12/real_estate/where-to-start-home-buying-process/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/RWoOr4OeqW0/index.html Thinking of buying a house? Here's where to start Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/RWoOr4OeqW0" height="1" width="1" alt=""/> Mon, 14 Aug 2017 11:53:52 -0400 http://money.cnn.com/2017/06/12/real_estate/where-to-start-home-buying-process/index.html?section=money_realestate 2017-08-14 11:53 -04:00 2017-08-14 08:53 -07:00 http://money.cnn.com/2017/08/11/real_estate/save-down-payment/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/mXl9NUq3394/index.html How to save enough money for a down payment on a home Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/mXl9NUq3394" height="1" width="1" alt=""/> Fri, 11 Aug 2017 10:09:28 -0400 http://money.cnn.com/2017/08/11/real_estate/save-down-payment/index.html?section=money_realestate 2017-08-11 10:09 -04:00 2017-08-11 07:09 -07:00 http://money.cnn.com/2017/07/24/real_estate/american-dream-homeownership/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/ab8oL9mVbqA/index.html Does the American Dream no longer include homeownership? Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/ab8oL9mVbqA" height="1" width="1" alt=""/> Mon, 24 Jul 2017 10:41:24 -0400 http://money.cnn.com/2017/07/24/real_estate/american-dream-homeownership/index.html?section=money_realestate 2017-07-24 10:41 -04:00 2017-07-24 07:41 -07:00 http://money.cnn.com/2017/07/18/real_estate/real-estate-property-foreigners-purchase/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/4iJsVELvWks/index.html U.S. home sales to foreigners surge 49% to new record Foreigners and recent immigrants spent $153 billion buying American homes over the course of the last year, according to the National Association of Realtors.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/4iJsVELvWks" height="1" width="1" alt=""/> Tue, 18 Jul 2017 11:41:38 -0400 http://money.cnn.com/2017/07/18/real_estate/real-estate-property-foreigners-purchase/index.html?section=money_realestate 2017-07-18 11:41 -04:00 2017-07-18 08:41 -07:00 http://money.cnn.com/2017/06/28/real_estate/first-time-homebuyer-mistakes/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/pzh_QYJMw_E/index.html 7 first-time homebuyer mistakes to avoid It's tough being a first-time buyer in today's housing market. Don't make it even harder (or more expensive) for yourself by making these common mistakes.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/pzh_QYJMw_E" height="1" width="1" alt=""/> Wed, 28 Jun 2017 13:23:24 -0400 http://money.cnn.com/2017/06/28/real_estate/first-time-homebuyer-mistakes/index.html?section=money_realestate 2017-06-28 13:23 -04:00 2017-06-28 10:23 -07:00 http://money.cnn.com/2017/06/26/real_estate/home-buying-costs/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/_jK6TqA80LE/index.html 4 costs you haven't factored into your homebuying budget Out-of-pocket costs that crop up during the homebuying process, or even when you're moving in, can put an unexpected strain on your already-hurting bank account.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/_jK6TqA80LE" height="1" width="1" alt=""/> Mon, 26 Jun 2017 10:32:35 -0400 http://money.cnn.com/2017/06/26/real_estate/home-buying-costs/index.html?section=money_realestate 2017-06-26 10:32 -04:00 2017-06-26 07:32 -07:00 http://money.cnn.com/2017/06/23/real_estate/mortgage-rates-home-prices/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/5lNcOwBkCOw/index.html Home prices are sky high, but mortgages are still cheap Home prices have reached another record high, and buyers are feeling the pressure. But there has been one saving grace for buyers: mortgage rates.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/5lNcOwBkCOw" height="1" width="1" alt=""/> Fri, 23 Jun 2017 10:31:36 -0400 http://money.cnn.com/2017/06/23/real_estate/mortgage-rates-home-prices/index.html?section=money_realestate 2017-06-23 10:31 -04:00 2017-06-23 07:31 -07:00 http://money.cnn.com/2017/06/16/real_estate/rising-home-costs-affordability-harvard/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/5IXVwpGYphc/index.html 39 million households are paying more for housing than they can afford Read full story for latest details.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/5IXVwpGYphc" height="1" width="1" alt=""/> Fri, 16 Jun 2017 13:28:14 -0400 http://money.cnn.com/2017/06/16/real_estate/rising-home-costs-affordability-harvard/index.html?section=money_realestate 2017-06-16 13:28 -04:00 2017-06-16 10:28 -07:00 http://money.cnn.com/gallery/real_estate/2017/06/16/first-time-homebuyers/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/AEaUPA8GadI/index.html Best cities for first-time homebuyers A recent Zillow analysis on the best markets for first-time homebuyers finds that the best deals are in the Southeast and the Midwest.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/AEaUPA8GadI" height="1" width="1" alt=""/> Fri, 16 Jun 2017 11:47:36 -0400 http://money.cnn.com/gallery/real_estate/2017/06/16/first-time-homebuyers/index.html?section=money_realestate 2017-06-16 11:47 -04:00 2017-06-16 08:47 -07:00 http://money.cnn.com/2017/06/15/real_estate/down-payment-savings/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/KDEIqLl5rac/index.html Where should I stash my down payment savings? If buying a house is on your short-term to-do list, experts say keep your down payment funds liquid. Looking to buy further down the road? You have some more options.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/KDEIqLl5rac" height="1" width="1" alt=""/> Thu, 15 Jun 2017 09:59:33 -0400 http://money.cnn.com/2017/06/15/real_estate/down-payment-savings/index.html?section=money_realestate 2017-06-15 09:59 -04:00 2017-06-15 06:59 -07:00 http://money.cnn.com/gallery/real_estate/2017/06/09/tips-for-buying-a-house/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/vktrnQdeE54/index.html Homebuying secrets from the real estate battlefield In the middle of your house hunt and feeling a bit overwhelmed? We talked to recent home buyers to get their tips for navigating the market.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/vktrnQdeE54" height="1" width="1" alt=""/> Fri, 09 Jun 2017 09:33:11 -0400 http://money.cnn.com/gallery/real_estate/2017/06/09/tips-for-buying-a-house/index.html?section=money_realestate 2017-06-09 09:33 -04:00 2017-06-09 06:33 -07:00 http://money.cnn.com/2017/06/08/real_estate/first-time-home-buyer-missing/index.html?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/l7TijhqBZq0/index.html 3 million first-time homebuyers have been shut out of the market Over the past 10 years, three million first-time home buyers have been shut out of the housing market, according to a new report.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/l7TijhqBZq0" height="1" width="1" alt=""/> Thu, 08 Jun 2017 12:05:18 -0400 http://money.cnn.com/2017/06/08/real_estate/first-time-home-buyer-missing/index.html?section=money_realestate 2017-06-08 12:05 -04:00 2017-06-08 09:05 -07:00 http://money.cnn.com/calculator/real_estate/mortgage-payment/?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/tmQBiEFyXNk/ What will your monthly mortgage payment be? In the market for a new home? Or planning to refinance? Find out what your monthly payment will be.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/tmQBiEFyXNk" height="1" width="1" alt=""/> Mon, 02 Feb 2015 10:53:13 -0500 http://money.cnn.com/calculator/real_estate/mortgage-payment/?section=money_realestate 2015-02-02 10:53 -05:00 2015-02-02 08:53 -07:00 http://money.cnn.com/calculator/pf/home-rate-of-return/?section=money_realestate http://rss.cnn.com/~r/rss/money_realestate/~3/wK06F6O88wk/ Was my home a good investment? Calculate the return on your home and how it compares to returns on stocks, bonds and overall home prices.<img src="http://feeds.feedburner.com/~r/rss/money_realestate/~4/wK06F6O88wk" height="1" width="1" alt=""/> Tue, 05 Nov 2013 11:10:09 -0500 http://money.cnn.com/calculator/pf/home-rate-of-return/?section=money_realestate 2013-11-05 11:10 -05:00 2013-11-05 09:10 -07:00