The State of the Economy

If you are one of those people who are not worried about the state of economy and you want to buy a new home right now here is some advice that will help point you in the right direction.

First of all take the time to find the right place. Do not pay attention to seller’s asking price and bid 10% lower then what comparable homes are selling for. If the seller does not want to budge then move on!

Mortgage rates are low so right now is the time to buy, waiting could be more costly! Financing is getting more expensive the so the longer you wait the more you pay in financing. Also even if prices fall more there could be a penalty for waiting!

Always strive to purchase a home in a neighborhood with good schools. Schools with higher rating represent stability, and especially right now that is very important. If you are looking into a foreclosed property that usually reflects instability if there are a lot of them in the area, this could mean a lower quality of life which you want to stay away from. When you are buying a property you are also buying the neighborhood, so keep that in mind!

I hope these suggestions help you make the right decision.

Real Estate in the state of a recession!

If you are looking for a real estate then I am sure you are aware that the recession has a huge impact on the market! I wanted to find out who was surviving the best out of all the cities in the United States and here is what I found: Oklahoma City is one of the country’s strongest housing markets and is in the best position to handle the crises. They have a solid growth rate in agriculture, energy and manufacturing all contributing to what makes them the strongest.

The next city is San Antonio with solid employment rates and affordable home prices. The other cities that are staying strong are Austin, TX; Charlotte, NC; Dallas, TX; San Jose, CA; Raleigh, NC; Salt Lake City, UT; and Seattle, WA. When gathering statistics Forbes.com looked at many different areas in the country and focused on the fifty largest metro areas.

The statistics that they used include unemployments rates, job growth, construction, education, health services, financial activity, transportation, trade, and many other figures. They also looked at the median home price and compared growth from forth quarter 2006 to fourth quarter 2007. In conclusion if you are looking for an area to find solid real estate opportunities you will have to look outside of your city if you are not in these cities!

What will 1 million dollars buy you?

So hypothetically let’s say you have one million dollars to spend on a home. What exactly will one million dollars buy you in this day in time? I wanted to find out just what a cool million will do and here is what I found:

In Atlanta, Georgia I saw a million dollar home that was 3,200 square feet. It has five bedrooms and five and a half baths. This home was smaller in square feet but it offerers a nearly new stone wall traditional design in a gated community in one of Atlanta’s most in demand suburb.

In Wenonah, New Jersey I found a one million dollar home that is 5,000 square feet. It has four bathrooms and four and a half baths. Along with a good amount of space this home offers a few acres of landscaped yard, in ground swimming pool and a stone summer house with a bar! Not bad for one million!

In Raleigh, North Carolina one million dollars still buys a pretty good size home. A home I found was 6,300 square feet. It has five bedrooms and four bathrooms. It also offers a wet bar, separate area for a library, office, formal dining room and a first floor guest suite!

So if you are looking to get the best bang for your buck in square feet I would say go to Raleigh, North Carolina!

Best places to live in 2008

If you are considering a move it is always nice to be aware of the top places in the United States to live. When I researched this on Goggle it gave me the top 5 cities to live in.

The number one city is Charlotte, NC. This is a sunny moderate central region making it easy place to live. Being the home of 292 of the Fortune 500 Company’s it is known by the financial industry as the second largest banking center.

The second best city to live in is San Antonio, TX. It is known as for melding American and Mexican culture. San Antonio is the gateway city to Southern Texas. It is known for its tourism and it is the 10th largest city in the nation.

The third best place to live is Chattanooga, TN. It is known for having many educational and job opportunities for any field of study. It only has an occasional snow or ice usually in Feb. which also makes it appealing.

The forth place to consider is Greenville; SC. Greenville has a history of all different types of living environments. It offers a variety of places to live starting with older more traditional neighborhoods to the inner city homes which are very modern.

The last place to consider is Tulsa, Ok. Tulsa is the second largest city in Oklahoma. It offers a low unemployment rate with an economy that uses telecommunications, manufacturing, aerospace, and energy.

Tips to Find a Good Agent

When you are looking into buying a new home or selling your old home you can do it alone or you can hire an agent. If you have the time to do it yourself you can save a chunk of change about 5% the average commission amount you pay! Like most of us if you do not have time to do the homework yourself the best way is to hire a good agent. Where do you find a good agent?

The first thing to do is ask friends, family members and neighbors if they have anyone they recommend. Referrals are the best way because the person that made the referral more then likely worked with that agent and had a good experience.

The next thing you want to keep in mind is finding someone close to your area that has had a lot of previous sales. If they are close to you it makes it a lot easier to work with them and if they have had a lot of sales in the past you know they are experienced! You want to go after one of the top producers in your community that ensures they are familiar with your market.

Keeping all of these things in mind will send you on the right track to finding a good agent! Good luck!

What Will a Good Credit Score do?

Do you ever wonder what the advantages of having good credit are? Here is a list of reasons why it is a good idea to keep your credit in check!

First of all with a good credit standing it makes it easier to finance furniture, cars and even a new home! If you have ever applied for a loan before the first thing they look at is your credit score.

If you are ever in the position to rent an apartment a strong credit score makes you look like a good candidate to rent to. If you have a history of paying all of your bills it is a lot easer for someone to trust you.

Believe it or not some employers look at your credit score and a good credit score reflects well on how you would perform your job duties.

If you ever wanted to go back to school you are looked at more favorable for being eligible for school loans.

If you ever are in the need of funding banks will be more willing to assist you if you have a good credit score.

Last but not least a good credit score can open the door to one day financing your own business.

I hope all these reasons help you stay focused on your credit score!

Tips for Refinancing a Home

What does it mean to refinance? It means to provide new financing by getting rid of a high mortgage with the proceeds of a new mortgage obtained with a lower interest rate. This is always a good thing to look into after having around 10% of equity obtained in your house.

What are some good tips to refinancing a home? Here is a list of tips that I found while looking:

Look for free “lock-in” that last 60 days. While it typically takes 45 days to close delays can occur.

If your deal goes bad at closing, consider starting over! You have three days after the close to think it over. If you decide to decline the deal you need to notify the lender with in 3 days in writing.

Don’t assume you will not qualify because you do not have enough equity in your home. Lenders usually look for equity of 10% but there are some exceptions.

Don’t assume because a lender has no application fee that they will be less expensive in the long run. Sometimes lenders with no application fee get heavy on the fees at closing. Always focus on the interest rates and points.

I hope these points help you when you are looking to refinance!

Storage Options

When you are getting ready to move what are your storage options? Door to Door is a company that is a great option to use! They will bring the container to your house, and then you load it up. After that they will pick it up and store it for you! You call them when you are ready for your belongings and they will deliver it to you!

Door to Door services also always make sure to help you determine the amount of space you will need. They will come in and measure how much space you will need for storage so that you are not paying for space you don’t use. Also you have your own individual lock so that no one but you can access your belongings. If you ever want to have access to your unit you just have to let them know and they will make it available at there storage warehouse.

An average unit will hold from a room of furniture to a room and a half or 40 to 50 medium size boxes. They are five feet wide to seven feet tall and eight feet deep. They are a great option for anyone who is on the move. Next time you are going to be moving be sure to look into Door to Door!

Ways to Increase the Value of Your Home

If you are in the selling market and you are looking for ways to increase the value of your home these tips might help!

First of all you have to know that there is a difference between value and price. The price of your home is the amount of money you are selling your home for. The value of your home is concluded by the buyer. Many factors play a role in what people consider valuable. These include: location of the home, condition of the home, features of the home and comparison to other options. By paying close attention to details, you can help yourself find quality buyers who are willing to pay the asking price.

Something that is very helpful is showing the home furniture free. The reason this is affective is because size matters to buyers. Regardless of the square feet of the home, if it looks bigger it feels more valuable. Removing the furniture and clutter can help accomplish this feeling.

Having the house vacant when you show it is also important. Showing a home that is empty makes it seem that much easier to show, sell and for the new owner to take possession of it.

Never forget about the cosmetics of the home. These include: fresh paint, clean or new carpet, landscaping in the front and backyard, and even adding some colorful flowers and new sod for a final touch.

Look around the home, is there anything that you see that might take away form the value of the home. This is very important because even a small spot on the carpet can take away value.

Make sure to have your house inspected before closing the deal! A house that is not in top condition can cost you the sale if you do not get it fixed before hand!

If you get the chance remodel the kitchen and master bathroom. These are two areas of the home that buyers are most concerned about when looking into buying a home.

Last but not least be aware that renovating a home can cost a lot of money. Make sure that you will make the cost back in the sale of the home before jumping into it.

I hope this helps you next time you are in the market to sell your home!

More Mistakes Made when Buying a Home

This is a continuation from my first blog of mistakes people make when buying there first home. Here are a few more common mistakes people make:

Always look out for misplacing your trust. No matter how much you like the people around you who are assisting you remember that you are dealing with a business transaction. Make sure to do all your own research first hand so you are not relying on other people to tell you the truth.

Another mistake people make is not getting everything in writing. Just because you think you have an oral agreement does not make it binding unless it is in writing!

Always look out for the fine print! Before you sign anything take the time to read through all of the fine print and ask questions before you sign anything.

Never buy a home that cost 50% more then the other homes in the neighborhood. The lower home values around you will bring your home value down. Make sure to research the neighborhood pricing.

Protect yourself by having at least 2 of these 3 contingencies in your offer. Mortgage Financing- make sure you have a formal appraisal of the home. If the house appraises for less then the amount of the loan the loan may not go through! Inspection- never buy a home with out having it properly inspected. Listen to the concerns of the inspector before making a decision. Insurance- make sure that you can get the proper coverage of home insurance.