first time homebuyer: Going Condo
- 03/18/10 03:58 AM
Pros and Cons of Going Condo Condominiums and townhouses offer an affordable option to single-family homes in many markets, and they're ideal for those who appreciate a maintenance-free lifestyle. But before you buy, make sure you do your legwork. These are some of the important elements to consider: •· Storage. Some condos have storage lockers, but usually there are no attics or basements to hold extra belongings. •· Outdoor space. Yards and outdoor areas are usually smaller in condos, so if you like to garden or entertain outdoors, this may not be a good fit. However, if you dread yard work, … (0 comments)
first time homebuyer: Buying In A Tight Market
- 03/17/10 01:22 AM
Tips for Buying in a Tight Market Increase your chances of getting your dream house in a competitive housing market, and lower your chances of losing out to another buyer. 1. Get prequalified for a mortgage. You'll be able to make a firm commitment to buy and your offer will be more desirable to the seller. 2. Stay in close contact with your real estate agent to find out about the newest listings. Be ready to see a house as soon as it goes on the market - if it's a great home, it will go fast. 3. Scout out new … (1 comments)
first time homebuyer: The Perfect Neighborhood
- 03/16/10 02:56 AM
Tips for Finding the Perfect Neighborhood Your neighborhood has a big impact on your lifestyle. Follow these steps to find the perfect community to call home. •· Is it close to your favorite spots? Make a list of the activities - movies, health club, church, etc. - you engage in regularly and stores you visit frequently. See how far you would have to travel from each neighborhood you're considering to engage in your most common activities. •· Check out the school district. This is especially important if you have children, but it also can affect resale value. The Department of Education … (0 comments)
first time homebuyer: Wish List
- 03/15/10 08:28 AM
Your Property Wish List What does your future home look like? Where is it located? As you hunt down your dream home, consult this list to evaluate properties and keep your priorities top of mind. •□ Neighborhoods What neighborhoods do you prefer? •□ Schools What school systems do you want to be near? •□ Transportation How close must the home be to these amenities: •· Public transportation •· Airport •· Expressway •· Neighborhood shopping •· Schools •· Other •□ Home Style •· What architectural style(s) of homes do you prefer? •· Do you want to buy a … (1 comments)
first time homebuyer: Questions To Ask The Condo Board
- 03/13/10 07:34 AM
10 Questions to Ask the Condo BoardBefore you buy, contact the condo board with the following questions. In the process, you'll learn how responsive - and organized - its members are. You'll also be alerted to potential problems with the property.1. What percentage of units is owner-occupied? What percentage is tenant-occupied? Generally, the higher the percentage of owner-occupied units, the more marketable the units will be at resale. 2. What covenants, bylaws, and restrictions govern the property? What grandfather clauses are in place? You may find, for instance, that those who buy a property after a certain date can't rent out … (2 comments)
first time homebuyer: Property Tax Questions You Should Ask
- 03/12/10 05:40 AM
5 Property Tax Questions You Need to Ask1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller's tax bill to help you determine this information. 2. How often are properties reassessed, and when was the last reassessment done? In general, taxes jump most significantly when a property is reassessed. 3. Will the sale of the property trigger a tax increase? The assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as … (0 comments)
first time homebuyer: Is Your Home High Tech?
- 03/11/10 07:47 AM
How High Tech Home is Your Home?If the latest technology or entertainment options are important in your new home, add the following questions to your buyer's checklist. 1. Are there enough jacks in every room for cable TV and high-speed Internet hookups? 2. Are there ample telephone extensions or jacks? 3. Is the home pre-wired for home theater or multiroom audio and video? Does it have in-wall speakers?4. Does the home have a local area network (LAN) for linking computers?5. Does the home already have wiring for DSL or another high-speed Internet connection?6. Does the home have multizoning heating and cooling … (0 comments)
first time homebuyer: IRS Tax Tips
- 03/09/10 04:20 PM
Ten Facts about Mortgage Debt Forgiveness If your mortgage debt is partly or entirely forgiven during tax years 2007 through 2012, you may be able to claim special tax relief and exclude the debt forgiven from your income. Here are 10 facts the IRS wants you to know about Mortgage Debt Forgiveness. Normally, debt forgiveness results in taxable income. However, under the Mortgage Forgiveness Debt Relief Act of 2007, you may be able to exclude up to $2 million of debt forgiven on your principal residence. The limit is $1 million for a married person filing a separate return. You may … (6 comments)
first time homebuyer: Guide For Your Home Search
- 03/07/10 11:08 PM
8 Tips to Guide for Your Home Search1. Research before you look. Decide what features you most want to have in a home, what neighborhoods you prefer, and how much you'd be willing to spend each month for housing. 2. Be realistic. It's OK to be picky, but don't be unrealistic with your expectations. There's no such thing as a perfect home. Use your list of priorities as a guide to evaluate each property.3. Get your finances in order. Review your credit report and be sure you have enough money to cover your down payment and closing costs. Then, talk to … (0 comments)
first time homebuyer: Making An Offer On A Short Sale?
- 03/07/10 12:56 AM
Thinking of Making an Offer on a Short Sale? What You Need to Know Are you looking to buy a new home? Are you thinking that now's a great time to find bargains? That's true, but it pays to know a little about the seller's situation before you make an offer. If a home is being sold for below what the current seller owes on the property-and the seller does not have other funds to make up the difference at closing-the sale is considered a short sale. Many more home owners are finding themselves in this situation due to a number … (0 comments)
first time homebuyer: Take the Stress Out of Homebuying
- 03/06/10 05:58 AM
Buying a home should be fun, not stressful. As you look for your dream home, keep in mind these tips for making the process as peaceful as possible. 1. Find a real estate agent who you connect with. Home buying is not only a big financial commitment, but also an emotional one. It's critical that the REALTOR® you chose is both highly skilled and a good fit with your personality.2. Remember, there's no "right" time to buy, just as there's no perfect time to sell. If you find a home now, don't try to second-guess interest rates or the housing market … (0 comments)
first time homebuyer: Orange-Garlic Jerk Rub
- 03/05/10 08:14 AM
Orange-Garlic Jerk RubINGREDIENTS1 tablespoon zest grated from,large orange,large garlic cloves, minced, (about 1 tablespoon), 1 tablespoon chopped fresh, sage leaves, 1 tablespoon extra-virgin olive oil, 1 tablespoon orange marmalade (substitute honey), 1 teaspoon ground black pepper, 1/4 teaspoon salt Mix all ingredients together in small bowl. Now that you're really cooking, let me know if you have a real estate related question or problem. Reply to this message or call me today. … (1 comments)
first time homebuyer: Tax Benefits of Homeownership
- 03/04/10 07:07 PM
Tax Benefits of HomeownershipThe tax deductions you're eligible to take for mortgage interest and property taxes greatly increase the financial benefits of homeownership. Here's how it works. Assume: $9,877 = Mortgage interest paid (a loan of $150,000 for 30 years, at 7 percent, using year-five interest) $2,700 = Property taxes (at 1.5 percent on $180,000 assessed value)______$12,577 = Total deduction Then, multiply your total deduction by your tax rate. For example, at a 28 percent tax rate: 12,577 x 0.28 = $3,521.56 $3,521.56 = Amount you have lowered your federal income tax (at 28 percent tax rate) Note: Mortgage interest … (1 comments)
first time homebuyer: Why You Should Work With A Realtor
- 03/02/10 04:37 AM
Not all real estate practitioners are REALTORS®. The term REALTOR® is a registered trademark that identifies a real estate professional who is a member of the NATIONAL ASSOCIATION of REALTORS® and subscribes to its strict Code of Ethics. Here are five reasons why it pays to work with a REALTOR®. 1. You'll have an expert to guide you through the process. Buying or selling a home usually requires disclosure forms, inspection reports, mortgage documents, insurance policies, deeds, and multi-page settlement statements. A knowledgeable expert will help you prepare the best deal, and avoid delays or costly mistakes. 2. Get objective information … (0 comments)
first time homebuyer: First-Time Home Buyer Mistakes
- 03/01/10 12:31 AM
5 Common First-Time Home Buyer Mistakes 1. They don't ask enough questions of their lender and end up missing out on the best deal.2. They don't act quickly enough to make a decision and someone else buys the house. 3. They don't find the right agent who's willing to help them through the homebuying process.4. They don't do enough to make their offer look appealing to a seller. 5. They don't think about resale before they buy. The average first-time buyer only stays in a home for four years.Source: Real Estate Checklists and Systems, www.realestatechecklists.com. … (3 comments)
1. Decide what you can afford. Generally, you can afford a home equal in value to between two and three times your gross income. 2. Develop your home wish list. Then, prioritize the features on your list.3. Select where you want to live. Compile a list of three or four neighborhoods you'd like to live in, taking into account items such as schools, recreational facilities, area expansion plans, and safety.4. Start saving. Do you have enough money saved to qualify for a mortgage and cover your down payment? Ideally, you should have 20 … (0 comments)
first time homebuyer: Apple Cake With Cream Cheese Frosting
- 02/25/10 02:30 PM
Apple Cake with Cream Cheese Frosting INGREDIENTS: 1 cup canola oil 2 cups sugar 2-1/2 cups flour 2 eggs 2 tsp baking powder 1 tsp baking soda 1 tsp salt 1 tsp ground cinnamon 1 tsp ground nutmeg 1 tsp vanilla 4 cups chopped and peeled tart cooking apples 1 cup chopped pecans DIRECTIONS: Preheat oven to 325 degrees. Combine oil and sugar. Beat in eggs. Sift together dry ingredients and add to the egg mixture. Mix in the chopped apples and bake in a 13x9-inch pan for 55 minutes. Cool then ice with the cream cheese frosting. CREAM CHEESE FROSTING: … (0 comments)
first time homebuyer: Sticky Chicken
- 02/24/10 02:11 AM
Sticky Chicken INGREDIENTS: 3 Tbsp. honey 2 Tbsp. soy sauce 1 tsp. finely minced gingerroot 1 4-lb whole roasting chicken 3 minced garlic cloves 1 whole orange, sliced 2 Tbsp. cornstarch 3 Tbsp. orange juice DIRECTIONS: Rinse chicken and drain well. Pat the chicken with paper towels to dry. Place garlic and orange slices inside chicken. Spray a 4-6 quart crockpot with nonstick cooking spray and place chicken inside. Combine honey, soy sauce and gingerroot in small bowl and pour over chicken. Cover crockpot. Cook on LOW for 6-8 hours. The chicken should be fork tender and thoroughly cooked. Remove chicken … (0 comments)
first time homebuyer: Spinach Dip
- 02/22/10 04:44 AM
Spinach Dip INGREDIENTS: 1 (9 to 11-ounce) package, frozen spinach 1 (8-ounce) package cream cheese 1/2 cup plain yogurt 1 clove garlic, minced 1/8 teaspoon cayenne pepper 1 teaspoon salt DIRECTIONS: Cook spinach according to package directions. Drain thoroughly. Place all ingredients in blender and process until smooth. Chill several hours before serving with vegetables or chips. For a milder dip, mix in a little cottage cheese before serving. Yield: 1 2/3 cups. Have a real estate related question or problem? Reply to this message or call me today! … (7 comments)
Pros and Cons of Going Condo 
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