The other day I went out to inspect a Condo that I manage. The Condo received water damage as a result of heavy rains and high winds. The flat roof buildings had water backed up due to drains clogged by leaves and acorns. In addition, the wind blew from directions that they normally would not, and water always finds a path of least resistance.
High winds associated with storms such as blizzards, tropical storms, hurricanes and tornadoes damage homes and businesses in all parts of the country all year long. Most damage may seem obvious like a collasped wall or roof. However much of the time there remains hidden damage that stays that way for a long period of time. The longer it remains unrepaired chances are greater for decay and increased repair costs. When inspecting your home or business for hidden damage, check every nook and cranny.
Cracked Walls
Look for cracks in areas that weren't there previously. Multiple cracks as small as a quarter inch are signs that the building has settled and the walls may have shifted. Pay special attention around doors and windows.
Foundation
Visible cracks in the foundation are a sigh of beginning structural damage. Check for levelness of floors. Homes built on a slab where floors are tilting and walls cracking as a result of the shifting and settling may require piering.
Inspect walls and ceilings for yellow/brown stains that signify water damage and or roof damage. Damaged gutters can cause harm to the interior of your home as well. Don't forget to check unused areas, such as storage rooms, closets, crawl spaces etc. Don't skip an area just because your not using that part of the house. Remember heading off trouble before it happens saves aggravation, time and money.
We all have a variety of activities and outside interests. However I have noticed many Realtors wear many hats, or they are utilizing the principal of diversification. Product diversification is a good thing when in business of manufacturing or distribution, one product may compensate for the other in sales when market changes. Diversifying ones stock portfolio allows for cyclical changes in the market. It offers balance as when one area is down the other is stable or up.
For one reason or the other, people take on second jobs, it may be to bring in extra funds to pay off some newly created bills or, some folks simply enjoy the activity of something different from their regular 9 to 5. Well what about that special animal, the Real Estate agent, does selling cosmetics take away from or distract from their main profession? Can a Real estate agent, work a part time business on the side without interfering with the sales or listing of homes?
Lately I have encountered many agents with add on businesses that either compliment Real estate or are in completly different fields of endeavor all together. Looking back I can see where a sideline may provide greater exposure for the Realtor and broaden their SOI. Either way, I am sure there are pros and cons to both sides of the question. Yes, I understand some may be better equipt to handle mutlitiple activities than others. All that said, I am curious and often wonder how many Realtors have their hand in more than one pot and is it working for them?
Home values are up and the Tulsa Housing market calming.
As of the end of July 2008, the average sales price rose from 3.6 percent from a year ago and 2.8 percent year to date from this time last year. It is important to understand that our home values have increased over the past year. Our area is now one of the best real estate markets in the Country and we are consistently in the top 10 in home value appreciation.
More Good News
As our market is calming down and getting back to normal, home buyers can look forward to the Governments greatly enhanced insured FHA loan programs for 2008. FHA loans are gathering momentum and are available to buyers who were shut out due to the elimination of the alternate-A conventional loans and the 100 percent conventional loans.
It appears the worse is over and the Tulsa housing market continues forward as one of the best markets in the Country.
A typical real estate transaction involves dozens of individual, insurance agents, mortgage lenders, inspectors, and appraisers, just to name a few. It is the Real Estate agent that will coordinate all the professionals involved in the purchase of your home. Your agent will act as your advocate protecting your interest throughout the process.
While credentials and qualifications are important, you want a professional agent that you are comfortable with and whom you feel you can relate to. A good agent will educate you about the process along the way. They will keep you informed and will be available to you 24/7 to resolve any concerns and to answer any questions you may have.
Do not be afraid to ask questions when selecting an agent, as their answers will help you determine if they are the one for you. Ask questions such as, Why should I work with you? What do you do better than most agents? What are some of the things that could go wrong with a transaction and how would you handle it?
Your agent can assist you in locating a lender that offers mortgage programs to fit you needs and to get you prequalified. Prequalification gives you an advantage when negotiating an offer to purchase a home.
So now you are ready to begin your adventure of the American Dream, seaching for that special place called home.
What type of house do you want to purchase? Would you consider new construction?
How about an older existing home? Or perhaps a fixer upper.
Determine your wants and needs. A need is a must have while a want is something nice to have, but you can live without. Do you need three bedrooms? Do you need a basement? Perhaps you would want granite countertops. A finish basement wouldn't hurt, so sit down with your spouse and create your needs and want list.
Location! Location!
Is the most important consideration when investing in a home. Where do you want to live? In the suburbs, something rural?
Or do you prefer City living?
You should consider your wants or needs regarding proximity to shopping, employment, schools, parks and recreation. What about neighborhoods? Take into consideration is the neighborhood desirable to you? Is it kept up or is it safe? Drive through areas you are interest in during the daytime and early evenings. Look at the homes get a feel for the area. Make a list of what is important to you and do some research.
Coming next Hiring the Real Estate agent and getting on the path to that special place called home.
Purchasing a home for the first time may seem a bit intimidating. However, if done right it will be an exciting highlight in your life that will put you on the path to building wealth. Home ownership is the foundation for financial security. It offers tax benefits, builds up equity and appeciates in value.
Prepare by taking into consideration the following
Do I have a reliable source of income?
Is my employment steady? At least 2-3 years
Are there any long standing debts like a car loan?
Do I have a good history of Paying my bills on time?
Do I have down payment money saved?
Will I be able to budget for maintenance and upkeep?
What will I do if I lose my job?
Yes there are programs for those with low credit scores and yes there are programs for no money down. However, rough credit mortgages usually require a higher interest payment and credit insurance, as this protects the lender if you default. No money down, simply means you will be paying a larger monthly payment as you are financing more. Don't forget to consider property taxes on top of your mortgage payment and homeowners insurance premiums. Knowing the facts about your expenses will allow you to know where your headed and to avoid bumps along the way.
DON"T BE AFRAID
Don't be afraid, make your decisions based on facts not fear. There is never a wrong time to buy a home as long as you have the financial ability to hold it for the long term. There are many professionals who will help you along the way, starting with a good Real estate agent.
Is home ownership for you? To determine you first must first compare renting to owning a home. There really is no comparison. The advantage to renting is that you are not normally responsible for maintenance and repairs. When you pay rent you are not building equity, nor can you benefit from tax deductions that comes with home ownership. As a renter you are subject to rent increases, you can not alter the home, paint or decorate without the landlords permission. Most of all, you are at the mercy of the landlord should he decide not to renew your rental agreement.
You could receive one of these if the landlord does not want to renew your rental agreement.
The main benefit to owning your home is that each time you make a payment on your mortgage you are building equity. That's an investment in your future. You will also qualify for tax deductions such as cost of home owners insurance, property taxes, mortgage interest and certain cost associated with the home purchase. For first time home buyers Uncle Sam is currently offering a $7500.00 tax credit.
Home ownership instills pride and provides freedom and stability for you and your family. So, renting or owning, you do the comparison.
This is to let everyone know that my daughters Surgery went well, we both are grateful for all the AR caring folks who kept her in their prayers and thoughts. She still has a way to go with radiation and chemo therapy. She did have a total hysterectomy, but as a father if it means better health than its ok. However I understand as a women there is a sense of loss.
Again my heartfelt thanks to all of you out there in the Rain.....God Bless...you all have a special place in my heart. thank you
I am writing this because I need the help of the AR family....I am not a person that usually asks for help, and I usually am the calm, cool, and collected person that normally remains positive as humanly possible. However I am having a weak moment.
My oldest daughter has been battling cancer, recently having surgery a month ago. All seemed well, I just found out today she will be having more surgery on the 11th. I have always been strong for my children, and will remain positive and upbeat for her. But silently I feel helpless and scared...that my oldest may be lost.....so I am reaching out, to many, even those I do not know...I am asking that you include her in your prayers, she has a tough road to go....a single mom with two young ones left at home.
I appreciate your prayers and positive thoughts...Thank you for listening
While at a supermarket I was attempting to turn a corner at the end of the aisle but it was blocked by an elderly couple. The man who appeared to be in his 80's was listening patiently while his wife was scolding him left and right about one thing or the other. I felt embarrassed for him and and excused myself as I walked around them.
Later when checking out, I noticed the couple at the register next to me. He pushed the cart out past the end of the register waiting for his wife to pay. She walked up to him, leaned over and planted a kiss on his cheek. As she took control of the cart from him, he places his arms through hers and they quietly shuffle out on their merry way........
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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