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: David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent
: David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent's Blog
: Tag "real estate tips"
real estate tips: How do I know how much I should spend to buy a home? - 05/11/12 09:30 PM
Here are some tips to keep you on track.Know your financial situation: Prepare a budget before you start house hunting. In general, spend no more than 32% of your gross monthly income on housing. Remember, this includes utilities and property taxes. And your entire debt load shouldn't exceed 40% of your monthly gross income. Debt load includes car loans as well as credit card and line-of-credit payments.The lowest interest rate isn't always the best solution. Consider your individual situation, talk to two or three lenders, and be sure to read the fine print. Make sure you plan for closing costs.If you're … (1 comments)
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real estate tips: When Does a More Expensive Home Cost Less? - 05/11/12 06:57 PM
While it may seem counterintuitive, it's true; purchasing a more expensive home in an urban neighborhood could actually wind up costing you less than a home with a smaller price tag in the suburbs.In more ways than one...That's largely because of the high cost of transportation. When shopping for a home, many people who choose to live far from the core and commute to city jobs often neglect to factor in transportation costs.The ever-increasing price of gas is not the only consideration. Regular maintenance, higher car insurance rates due to the longer drive, simple wear and tear, and vehicle replacement costs … (0 comments)
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real estate tips: How should I prepare my home for sale? - 04/27/12 06:11 PM
You want your home to show well, which means getting rid of clutter and making sure it is clean, neat and well maintained both inside and outside:
Remove all clutter. Pack or store anything you do not need. Donate the rest to your favorite charity or having a garage sale.
Store your valuables or lock them up in a safe place. This includes jewelry, collectibles, artwork and medicines in your medicine cabinet.
Eliminate smoking odors and pet odors.
Paint the inside and outside with neutral colors, steam clean carpets or replace with new carpeting or flooring. … (2 comments)
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real estate tips: How to Profit by Investing in Cheap Properties - 04/16/12 06:56 PM
With the right information any investor can profit by investing in cheap properties. But remember you are making a long-term investment. Property values tend to increase over the long term, and acquiring tenants to help pay down your mortgage while you wait to sell makes this a valuable investment vehicle for the future. Know your home inspector Home inspectors know the building codes for your area and can offer invaluable advice about the integrity of your property's structure. Not all home inspectors are created equal. Some are qualified to perform WETT certification for wood-burning fireplaces, others have the training and … (1 comments)
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real estate tips: Buy in the Right Location to Ensure Your Home's Value - 04/15/12 09:06 AM
True, the phrase, "location, location, location", is a cliché. But smart homebuyers have come to realize that the location of their new home not only determines how happy they'll be with their purchase but also dictates its resale value. Following is a primer to help you find the right home in the right location: Don't be tempted to buy a great house in a bad neighborhood unless you can see signs that the neighborhood is changing for the better. Future buyers will not be willing to pay top dollar for a house surrounded by fixer-uppers. Decide what you want in a … (0 comments)
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real estate tips: No Granite? Don't Let That Be a Deal-Breaker - 03/17/12 04:41 AM
If you're looking for the perfect house, that huge wish list you're carrying around may be holding you back - and ultimately could cost you your dream home.Even the casual HGTV watcher will be familiar with "granite obsession." Picture this: A real estate agent is showing a couple a house that has great curb appeal in their chosen neighborhood, at a price they can afford. It's perfect. Or is it?"Hate that fixture," the husband says, as the couple checks out the dining room.They pause in the kitchen."This has to be completely redone," he says. "No granite countertops."She agrees. The husband and … (73 comments)
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real estate tips: Nine Easy Ways to Make Your Home More Attractive - 03/15/12 07:28 PM
These days, staging your home involves more than de-cluttering and inexpensive fix-ups. You can spend big bucks…Or not! The following tips can help you add value to your home:1. Listen to your real estate agent. He or she views hundreds of houses a year and knows what works.2. Watch the trends and incorporate them in simple, effective ways. In 2012, buyers will be looking for extra storage and great laundry rooms. De-clutter all your closets and add inexpensive but attractive storage in the laundry area. Fresh paint and attractive baskets can go a long way.3. Position one of today's colors - … (1 comments)
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real estate tips: Mortgage Insurance: What You Need to Know - 01/21/12 10:31 PM
Mortgage insurance is a topic that often baffles home buyers.
They want to know how it works, and they wonder if they really need it.
Mortgage insurance is what buyers pay to lenders to ensure against default on their mortgages. It's there for the lenders protection.
Such insurance may be required on both conventional and Federal Housing Administration (FHA) mortgages.
In a conventional mortgage, insurance is required on both purchases and refinances where there is less than 20% equity in a property. Credit scores also come into play, with less-risky borrowers paying lower premiums than riskier buyers.
Credit really is king … (1 comments)
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real estate tips: Real Estate Investing - Get the Most Out of Your Property Portfolio - 01/20/12 08:20 PM
With the uncertainty of global financial markets, investing for the future has never been more important. Developing a portfolio of income properties can ensure residual income for your future and that of your children. Following are tips to maximize your investment dollar and ensure sound retirement income with minimal effort:Make Sure the Tenants Pay the Mortgage: The rental income should be high enough to cover the monthly costs but low enough to be competitive. Closely inspect the income and weigh that against the potential expenses. Taxes, mortgage, hydro, maintenance and heating costs all take away from potential profits, so it is important … (1 comments)
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real estate tips: How to Leap Those First-Time Buyer's Hurdles - 01/15/12 11:30 AM
First-time home buyers have plenty of obstacles to overcome. There is an intricate maze of details that need to be carefully navigated. Following are five obstacles that first-time buyers have to overcome when looking to buy a home: Down Payment: Saving enough for the down payment may not be sufficient. Closing costs must also be considered. Closing costs are additional fees such as the lawyer's fees, escrow charges, appraisal fees, financing fees and utility adjustments. A good rule of thumb is 2% of the purchase price will cover the closing costs. So for a $200,000 home with a 5% down payment, you … (0 comments)
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David Hill PhD,ePro,SFR,CIAS,BPOR,CNE Chicago Real Estate Agent
Gurnee,
IL
More about me…
Midwest Premier Realty, Gurnee IL 224-321-0699
Address: Gurnee, IL, 60031
Office Phone: (224) 321-0699
Cell Phone: (224) 321-0699
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