Saturday, April 30, 2011
Thursday, April 28, 2011
Tuesday, April 26, 2011
Bubble Invasion
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| The “Maison Gaudet” Bubble houses in south of France are designed by Antti Lovag, an anti-conformist architect with no diploma who built this residence after an experimental model in 1969. Photo by Muracciole Jean-Marie http://matadornetwork.com/life/photo-essay-20-of-the-most-unique-homes-ever-built/ |
Why Use Virtual Tours For Your Home
VisualTour saves sellers and buyers time, adds convenience and gives both sides of the transaction peace of mind. For a home seller, your real estate agent can give your home maximum exposure to the largest number of potential home buyers. For home buyers, virtual tours saves buyers time tracking photos, maps, flyers and house specs. They are popular because of their scrolling panoramic scenes, descriptive text and numerous photos along with easy to use tools to locate the home on a map!
Thursday, April 21, 2011
The Ultimate Tree House!
A house in the mountains, away from civilization. Just pull up the ladder and no more unwanted visitors. Photo by Brandon Baunach. http://matadornetwork.com/life/photo-essay-20-of-the-most-unique-homes-ever-built/
Wednesday, April 20, 2011
Would you rent this vacation house in Mexico...? I know I would!
Stone House...amazing :)
Monday, April 18, 2011
Buying vs Renting
Is it better to Buy or Rent? Whether renting is better than buying depends on many factors...Do the math, get educated and find out if it makes sense for your budget. Check out this NY Times article...
http://www.nytimes.com/interactive/business/buy-rent-calculator.html
http://www.nytimes.com/interactive/business/buy-rent-calculator.html
Mushroom House! So Cool
Check Out These Unique Homes!
Check Out These Unique Homes!
Sunday, April 17, 2011
Doing the Final Home Inspection Walk-Through
Final walk-throughs are not a home inspection. It's not a time to begin negotiations with the seller to do repairs, nor is it a contingency. A final walk-through is an inspection performed anywhere from a few hours to five days before closing, and its primary purpose is to make certain that the property is in the condition you agreed to buy, that agreed-upon repairs, if any, were made and nothing has gone wrong with the home since you last looked at it.
Saturday, April 16, 2011
What to look for in home inspections
- Exterior grading
- Trees
- Fences
- Patio
- Driveway, walkways
- Doors, windows, storm windows and screens
- Roof, gutters
- Foundation, basement and crawl space
- Walls, exterior and interior
- Sump pump, sewer, septic tank and wells if applicable)
- Attic insulation and ventilation
- Flooring
- HVAC systemem, water heater and electric
- Alarms, smoke detectors and carbon monoxide detectors
Friday, April 15, 2011
Home Inspections
Home inspections are a critical part of the home buying and selling process. Knowledge in the field of property inspection has become invaluable, especially when you are trying to buy a home or sell your existing house. Disputes over property condition and repairs can kill your. Take the time to schedule inspections and nail down the condition of the property as early as possible to allow adequate time for resolving any issues that arise.
Monday, April 11, 2011
Definition for HUD 1 Form
A standardized form prescribed by the Department of Housing and Urban Development that provides an itemization listing of funds paid at closing.
Sunday, April 10, 2011
Lead Based Paint
Housing built before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not taken care of properly. Lead exposure is especially harmful to young children and pregnant women. When buying or selling a home it is required in NYS for both parties to sign a lead based paint disclosure form. Read below for NYS' disclosure...
- Every purchaser of any interest in residential real property on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead poisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the buyer with any information on lead-based paint hazards from risk assessments or inspections in the seller’s possession and notify the buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommended prior to purchase.
Saturday, April 9, 2011
Gifts Still Make Great Down-Payments
Home buyers can still receive and use gifts to supplement their down payments even with FHA loans. It's just important to be informed about the rules and restrictions.
- The gifted funds must be "seasoned," which means the buyer must be sitting in the buyers bank account for several months. Donors cannot just give the buyers the down payment money the day of the mortgage closing.
- The money must be documented with a gift letter. This letter specifies the donor name and relationship to the home buyer, how much money was gifted and where it came from. Friends giving gift money must actually prove they have had a long-standing relationship with the home loan borrower. The reasoning for this is so the lenders verify that the down payment money comes with no strings attached and was legally obtained.
- There is no limit on the amount of money that can be gifted from a friend or relative, and when it comes to taxes, the buyer will never be taxed on the received gift, and as long as the money does not exceed $13,000 (based on 2009 IRS rules) the donor will not have to pay a gift tax either.
Friday, April 8, 2011
Why buying a home is a good investment
Buying a home is a great why to invest your money for many reasons....
- Income tax savings
- You get to live in your investment
- You can spend a lot of money on rent and never own that unit
- You can personalize your hom
- Raise your family
- Stable monthly housing costs
- Forced savings
- Freedom
Saturday, April 2, 2011
Homeowner's Insurance
Homeowner's insurance is the type of property insurance that covers private homes. It is an insurance liability for accidents that may happen at the home or at the hands of the homeowner. It requires that at least one of the named insured occupies the home. It is a multiple-line insurance, meaning that it includes both property and liability coverage, with an indivisible premium, meaning that a single premium is paid for all risks.
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional items to be insured are attached to the policy. The insurance policy itself is a lengthy contract, and names what will and what will not be paid in the case of various events. Typically, claims due to floods are excluded. Special insurance can be purchased for these possibilities, including flood insurance. Insurance should be adjusted to reflect replacement cost, usually upon application of an inflation factor or a cost index.
The home insurance policy is usually a term contract—a contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower premium if it appears less likely the home will be damaged or destroyed.
The cost of homeowner's insurance often depends on what it would cost to replace the house and which additional items to be insured are attached to the policy. The insurance policy itself is a lengthy contract, and names what will and what will not be paid in the case of various events. Typically, claims due to floods are excluded. Special insurance can be purchased for these possibilities, including flood insurance. Insurance should be adjusted to reflect replacement cost, usually upon application of an inflation factor or a cost index.
The home insurance policy is usually a term contract—a contract that is in effect for a fixed period of time. The payment the insured makes to the insurer is called the premium. The insured must pay the insurer the premium each term. Most insurers charge a lower premium if it appears less likely the home will be damaged or destroyed.
Things NOT to do before buying a home
When trying to obtain a mortgage it is important to not make any drastic financial changes to your monthly expenses. For instance, a bank may be willing to give you a loan based on your current monthly expenses however, a month later you decided to buy a new car and take on a new monthly expense. This changes your debt to income ratio and when the bank runs the numbers to close the loan the debt to income ratio will be off and your loan will not be approved. Therefore you lose the loan and won't be able to close on your new home. When buying a house and waiting for the loan to close avoid the following...
- Moving money
- Changing job
- Avoid all big purchases of all kind
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