What a Home Buyer Needs to Know About Performing Home Inspection

HomeSBloger   June 3, 2015   Comments Off on What a Home Buyer Needs to Know About Performing Home Inspection

What Home Buyer Needs to Know About Performing Home Inspection

Congratulations! After doing a lot of research in order to find the right property for your needs and budget, you’ve finally struck gold and found one that’s just perfect! However, after you have called everyone you know in order to give them the big news, it’s time to calm down and look at your house with different eyes.

To make sure the deal is as sweet as it looks, you need to hire a home inspector to inspect the house and confirm whether this is a great deal or not. If this is the first time you’re using one such service, then have no worries, since below we’re going to take a closer look at some of the things you should know when it comes to home inspections.

1. A house inspection is optional

One thing you should know about home inspections is that they are not mandatory, but are indeed necessary. Most people wanting to buy a house will certainly stumble upon one or more that look exactly the way they pictured their perfect home, but the truth is that in most cases, such deals do come with many problems.

To ensure your house has no hidden problems that will have you spending thousands of dollars afterwards to repair them, you should hire a home inspector to inspect it. He’ll confirm whether the property is in good shape and what kind of repairs (if any) it may require and the amount those repairs stack up to.

2. You’re the one who is responsible for the home inspection

It is not the seller, but actually the buyer who is responsible for inspecting a house before purchasing it. So before you decide to sign the papers, it’s best not to hurry and take your time to look for an experienced and reliable home inspector.

You have to do a bit of research to ensure you hire the right one, but make sure that you can also afford to hire him. In general, home inspections can cost anywhere between 300 and 600 dollars or even more, depending on how large the property is.

3. The house inspector should be certified

A contractor and a home inspector are definitely not the same thing. Sure, contractors do know how to fix many home maintenance issues, but a home inspector is properly trained on identifying these issues without missing a single one of them. While there are home inspectors in every country, you need to make sure that the one you hire is certified.

If he is certified, then it means he is qualified to perform home inspections and can offer you a full and accurate report on every little problem your house has. But if you don’t know how to find a home inspector, you’d better ask your realtor about where to start. In most cases, he’s going to offer you some pretty great points on where you can find the right one.

4. What does a home inspection cover?

If you want, you can think of home inspections like a visit to your doctor. The doctor will take a look at various components of your body including your blood pressure, your reflexes, your medical history and so on in order to assess your current health status.

When it comes to home inspectors, they work in the same way. Keep in mind that by hiring a qualified home inspector, you should expect him to check the following about your home:


Any visible insulation and the attic.
The condition of your ceilings, walls and floors.
The condition of the door frames and the doors.
The condition of the windows.
The cooling and heating systems.
The interior electrical systems.
The interior plumbing systems.
Any extra structural components.
The basement and the foundation.


Don’t forget that prior to hiring a home inspector, you should ask him about what he’s going to cover in his home inspection.

5. What does the inspection cover?

It’s important to be aware of the fact that there’s no single inspection out there which is going to cover literally every aspect of your property. Using the same doctor analogy, you should know that certain issues require a referral to a specialist who can offer you a more in-depth examination. With that in mind, below you can find a list of some of the areas that aren’t generally covered by the home inspection:


Sheds, walls or extra structures that are separated from the main property.
Septic tanks.
Chimney or roof repairs.
Inside the walls.


Remember that even though these things aren’t included in the home inspection, it doesn’t mean they can’t be inspected.

6. You can attend inspections

It’s recommended that you do attend your home inspection in order to learn more about the problems your property has. At the same time, this is also a great opportunity for you to ask the inspector questions and learn valuable things about the overall condition of your house. Also, remember that the inspector doesn’t make any repairs, he just inspects the house.

7. The inspector should give you an inspection report

After the home inspection is done, the home inspector should offer you a report where everything he has discovered about the property is written down. The report needs to include pictures of the damaged areas, too. Those working with real estate agents should know that the report generally reaches him automatically, but you should also request a copy of it as well.

8. You can negotiate the repairs after the inspection is done

After the inspection is over, you’ll be able to negotiate who is going to cover for the repairs of the property. In general, there are 3 types of outcomes to these negotiations: the repairs can be made by you, the seller can credit you the money for making the repairs or the seller is going to make the repairs himself prior to settlement.

9. You can easily walk away after the inspection

If the inspection has uncovered something really bad about the home, then you can just walk away from the sale. However, it could be that you and the seller just can’t reach an agreement in regards to who is going to foot the bill for the repairs. Well, if that’s the case, then your main advantage as a buyer is that you can just walk away. Just make sure that you respond to the seller within the inspection timeframe and come up with a legitimate reason as to why you don’t want to buy the house.

10. Gather paperwork for completed repairs

After the negotiations are over, you and the seller are going to have a long list of repairs that have to be paid for and completed. While it may be tempting to cut corners, don’t try to call your friends or make the repairs yourself. Hire a professional, since title and mortgage companies will request the invoices and repair estimates as proof. If you don’t have them, then they won’t be able to grant you the deed to your new home.

No matter if you plan on buying or selling a house, hiring a home inspector to inspect it is mandatory if you want to sell it fast and have no unpleasant surprises about it later on. With a bit of patience and a lot of research, finding the right one is going to be a breeze!

Ten Things a Home Seller Should Know

HomeSBloger   June 1, 2015   Comments Off on Ten Things a Home Seller Should Know

Anyone who plans on selling their house should know that, when done right, this can be a painless and fast process, but the truth is that it involves more than just getting in touch with a realtor. Even though it falls within a real estate agent’s responsibilities to facilitate a transaction, as a seller, there are many other sources of stress and responsibilities that are going to keep you busy.

So if you’re currently planning on selling your home and you want this to be an easy and fast process, then you may want to take a closer look at some of the tips below in order to find out how to go about this properly.

Ten Things a Home Seller Should Know

1Don’t overprice your property
Everyone who plans on selling their home would like to get the best price for it, but the truth is that this causes a lot of people to overprice it. The bad news is that when you overprice your home, you risk having it sit on the market for many months before you can sell it. Sometimes, especially when the asking price is too big, you won’t even be able to find buyers.

If you really want to garnish a lot of attention towards your property, then you’d better price it below the market value. Most of the times people who do this are going to sell their home in as little as a few weeks.

2Market price agreement
You and the agent should both agree on the market price and how the home is going to be marketed. It’s very important that you and your agent are going to agree on the price that the property is going to be sold for.

So if he price is different than what you’d ask for it, make sure to ask him for an explanation about his decision. Marketing your home is yet again a very important aspect of being able to sell it fast and for a good price.

Talk about whether professional pictures need to be taken, where the ads are going to be placed and if the agent will advise other agents to bring in buyers, but also if he’s going to hold open houses.

3It’s important to ensure your house is kept clean
Besides scheduled open houses, you’re going to get a lot of phone calls from other agents who are interested in showing your property to potential buyers. This is generally going to be on short notice.

Because of that, it’s very important that you always make sure your house is kept clean and looking at its best. If you cannot clean it yourself, then make sure that you hire someone else who can keep it looking spotless 24/7.

Also, if there is something broken and needs to be fixed, make sure that you call someone as soon as possible. Seeing something that’s plain broken is a total turn off for some buyers.

4Buyers are very nitpicky
You, as someone who has lived in the house, may have a great opinion about it, but the truth is that most of the times we grow attached to our home and tend to see it much differently than others.

Often, we see it as being more beautiful, comfy and overall more beautiful than everybody else. While there is always going to be something that someone won’t like, it’s important that everything else about your home looks great.

The walls need to be painted properly, you should ensure every light bulb in every room works and so forth. This way, you’ll increase your chances of making a good impression on potential buyers.

5Selling your property can take some time
While it’s understandable that everyone wants to sell their home as soon as possible, this is not the same as selling lemonade at the corner of your street. Before offers come in, you may need to wait for a while and even potential buyers do come your way, you may also have to negotiate.

After negotiation, you’ll move on to the next step which is the closing. If it happens that your buyer wants to get a mortgage, then you may need to wait for another forty five days until the contracts are signed in order to secure a mortgage commitment from the bank. On top of that, if your home is a short sale, then the waiting time is going to be even longer.

6A home with pets complicates matters
There will undoubtedly be some home sellers that have pets and if that is the case with you, then it’s recommended that you take great care and make sure that your pets aren’t going to go running when you have some potential buyers over.

Also, before a showing, make sure that you carefully inspect each and every room of your house in order to make sure there is no dog poo in any of them. It would certainly be very embarrassing to walk into a room and see a brown “cookie” in the middle of it.

7Expect more visitors
Most potential buyers think that it is somehow acceptable that they also bring some of their friends to your place so that they can also see it and give them an opinion about whether they should buy it or not.

But in some cases, these people can be quite nosy and if the potential buyers come with their kids, you can bet that they’re only going to be interested in the snacks. While it’s definitely good news that you have potential buyers checking out your house, you have to remember that not everyone on the list is serious.

8Make sure you prepare your home for the market as best as possible
Before you put your property on the market, it’s recommended that you’ll walk through it and try to look at it as if you were a potential buyer.

Make sure that you paint every wall in the house, clean it properly and try to get rid of objects that you don’t need any more. If there are any other improvements that you should make, make them since this is going to increase the home’s appeal to potential buyers.

9Don’t take word of mouth too seriously
When looking for an agent who can help you sell your house, make sure that you don’t rely only on word of mouth.

There are many websites out there that you could check in order to find one and on top of that, you should also consider visiting open houses. This is a great way to meet realtors and hire one that can help you sell your home swiftly.

10Hiring friends as realtors is not a good idea
Last but not least, hiring your friend as the realtor who can help you sell your home faster is not recommended at all. Selling your property can be a very annoying and long process and it’s best that you can speak to someone without having to worry about damaging your relationship with him in any way.

With that being said, if you plan on selling your house, then considering these tips is a must. Keep in mind that the process may take some time, so be armed with a lot of patience and nerves of steel, since you’re going to need them!

How is Energy Efficient Window Replacement Affecting your Home Value

HomeSBloger   May 27, 2015   Comments Off on How is Energy Efficient Window Replacement Affecting your Home Value

If you have windows that are older than fifteen years and have a house that requires heating or cooling, then you may already be dealing with hefty energy bills. To solve these problems, you may want to consider having energy efficient window replacement Chicago, but the downside is that those windows can be pretty expensive and range in price between a few thousand and tens of thousands of dollars for an average size home.

Chicago Window Installation

 

Because of that, it’s recommended that you think well before you commit to buying new windows. In the majority of cases, you could easily enjoy the same energy savings by investing some money into repairing your old windows, sealing air leaks or re-insulating your home. But if you think that replacing your windows is best, then you may want to consider the following.

What will your ROI be?

It’s recommended that you consider getting Energy-star approved windows, since they can help you save a lot of money on your energy bills. In terms of price, they start at about one hundred and twenty dollars for a thirty six by seventy two inches single hung window. However, depending on your required size, the cost can be even ten times higher.

Now if you consider getting vinyl windows, then you’ll be able to recuperate almost 73 percent of your investment in added property value. If your choice though is to get wooden windows, then you’ll be able to recuperate about seventy eight percent of your initial investment.

Your energy bills are also going to be lower and in general, you’ll be able to save between 126 and four hundred and sixty five dollars per annum if you have a two thousand foot property and replace your single pane windows with tax credit eligible windows.

One thing to keep in mind though is that the savings will range a lot based on where you live, the energy efficiency of the windows being replaced and that of your property and the local energy costs. Lastly, you may also qualify for various incentives offered by your local utility company or US government which can make getting these types of windows much cheaper.

Energy Efficiency versus Price

In general, the more expensive a product is, the higher the quality, but that doesn’t mean that you absolutely need to get the most expensive windows out there. Still, how can you know which ones are the best in terms of cost and quality?

Well, all you need to do is make sure that the windows you get have the Energy Star label on them and this way you’re going to know they’re the best ones you can get for your home.

The Language of Windows

Familiarizing yourself with the terms appearing on the windows is also recommended, as following:

Low-E:

This refers to the window’s ability of reflecting heat rather than absorbing it. If the windows you want to get have a low-e coating, that will usually make up for ten percent of the window’s price. If your windows are in good shape, but you’d want them to insulate better, then you can also purchase low-e films and apply these to them.

Spacers:

The spacers are used for separating the sheets of glass in a window with the purpose of increasing the insulation quality. To prevent heat loss and condensation, the material and design are important.

Gas fills:

Gas fills usually consist of kryptonite or argon gas which are interposed together between glazing layers with the purpose of minimizing heat transfer and improving insulation.

Glazing:

This describes the type of glass used in the window and it can be triple, double or single. Glazing coatings can greatly affect a window’s degree of insulation or U-factor against the outdoors.

Frame materials:

Lastly, frame materials include fiberglass, aluminum, wood, vinyl or a combination of those. Keep in mind that each of them have different strengths. For instance, while vinyl windows are easy to maintain and can insulate well, they will expand once the temperature changes.

Wood does offer the same benefits, but again, it will be affected by changes in temperature. When it comes to fiberglass, it requires little maintenance and is very stable, but it’s very expensive. Lastly, aluminum is a great sound proofer, is stable and lightweight, but conducts heat quite easily which negatively affects energy efficiency.

Ten Things the Buyer Should Know When Searching For a House

HomeSBloger   May 24, 2015   Comments Off on Ten Things the Buyer Should Know When Searching For a House

Are you planning on buying your first home and you don’t know anything about the purchasing process? Well, if that’s the case, then worry no more, since below we’re going to take a good and hard look at the most important things you should keep in mind.

Ten Things the Buyer Should Know When Searching For a House

What are your needs?

1 (1)One of the first things you should consider before buying your house are your needs. Do you want to live in a popular neighborhood? How about in a more quiet neighborhood or even away from the city?

No matter where you plan on getting a house though, you should also consider the pros and cons of your area. For instance, if you want to move away from the city, then you’ll probably need to drive for a while until you can get to a supermarket.

Also, if you have kids or plan on having kids, then it’s important to think about whether there are schools and parks in your chosen area.

Consider the costs of owning a house

1 (2)Depending on where you buy a house and the type of home you get, it is necessary to think whether you can afford not only the monthly mortgage payment, but also the overall cost of owning a house.

Lawn maintenance, homeowners association fees, repairs, property taxes and utilities can easily add up. Therefore, no matter where you want to move, it’s very important that you consider that specific area’s cost of living.

Purchase or build?

1 (3)If you want to build a custom home, then this will undoubtedly cost you more than purchasing a readymade home. On the other hand, remodeling can be pretty expensive and at the end of the day, it’s always a lot less satisfying that if you were to have built your home the way you wanted to in the first place.

Because of that, it’s recommended that you think well before you get a home and see whether buying or building one is better.

Location

1 (4)It’s recommended that you stay away from bad neighborhoods where the prices are low, since in the end you may not get to like it that much. Instead, buy a house in an area where the value will increase over time.

Know your loans

1 (5)Advertisements can make you believe taking a home loan is simple and you’ll get amazing terms, but will you think the same once you’re in the branch office? The truth is that closing costs, MPI and points can easily increase your mortgage cost, so it’s very important that you consider them carefully before applying for a mortgage loan.

Use a buyer’s broker

1 (6)The majority of real estate agents will represent the seller, but when it comes to buyer brokers, they represent your desires and needs and help you find a property that’s best for your needs.

Demand a complete inspection of the property and full disclosure

1 (7)In the majority of states, property sellers need to disclose any possible or existing problems that the home has prior to selling it. However, if you want to know exactly what is wrong with a house, you should hire a home inspector. In terms of costs, you should expect to pay him between three hundred and six hundred dollars.

Get it in writing

1 (8)If you want to protect yourself, then it’s best that you have a part of the sale in writing and that you understand everything in the pre-sale contract before you make a commitment. In this case, it would help to hire a real estate professional to help you better understand the real estate and legal jargon.

Things to consider before the purchase is completed

1 (9)One of the more important things you should ensure is that there are no issues with you assuming ownership of the house and that the title is clear and free. Next, you’ll need to buy homeowners insurance and lastly, think about whether buying a home warranty is beneficial for you or not.

Taxes

1 (10)Last but not least, make sure you check whether your property taxes are included into your mortgage payments or if you need to pay them on a yearly basis.

You should also bear in mind to keep the paperwork for your yearly state or federal income somewhere you can easily access them when needed. When it comes to these types of deductions, it’s generally recommended that you speak to a tax accountant since he can help you better understand them.

Finding the Best Mortgage Rates in 2015

HomeSBloger   May 19, 2015   Comments Off on Finding the Best Mortgage Rates in 2015

Finding the Best Mortgage Rates in 2015

If you’re planning on buying a house, then you certainly need to learn more about the best mortgage rates currently available. That’s because most people have no idea about the wide range of mortgage rates available, but the good news is that after you’ll read the tips below, you’re going to know exactly which one fits your needs best. Let’s check them out:

  1. Compare Rates

If you’ve found a home that you’d like to buy, there are good chances the real estate agent who helped you find it will tell you to get a mortgage from a lender he has worked with before. However, since he’s generally only interested in making money, you should take his recommendation with a grain of salt.

Don’t rush this and start looking for a reliable lender who also has rates that you’re comfortable with. At the end of the day, by choosing the right lender you can save up to fifty thousand dollars or even more in interest rates.

  1. Improve Your Credit Score

If you’re applying for a regular loan, then you certainly need to keep your credit in good shape. For instance, based on the rate calculator at myFICO, you could pay as little as 1305 dollars a month if have a credit score higher than 760 and take out a 300 thousand dollars loan in Ohio. As for the interest rate, it would be a bit under 3,3 percent. If you have a credit score of 680, then you’ll pay 1372 dollars a month and have an interest rate of three point six percent. Lastly, with a credit score of 620, you’ll pay 1581 dollars a month and an interest rate of four point eight percent.

  1. Make A Large Down payment

No one says that saving up for a down payment is easy, but if you pay a lot more upfront, then you’ll get a much lower interest rate and save good money along the way. On top of that, you can also save on the cost of mortgage insurance which lenders usually charge if your down payment is lower than the minimum required.

So if you were to put the a twenty percent down payment or 40 thousand dollars on a 200 thousand dollars home in Tennessee, you’d pay only 730 dollars a month for the mortgage. This assumes a fixed thirty-year loan, a solid credit score and an APR of three point seven percent. If you’d scrape 25 thousand dollars, you’d need to pay 798 dollars a month and also seventy dollars a month in mortgage insurance, since you couldn’t put twenty percent down. In total, your monthly payments are going to be a little under 870 dollars.

  1. Amount Of Time You Plan On Living In The House

If you plan on living for a short period of time in your house prior to selling it, go for an adjustable rate mortgage and take advantage of the low initial interest rates of ARM. However, just make sure that you’ll only be living in the house for a short period of time if you want it to work for you and help you save good money down the road.

Fullerton Homes Market Comparison Report

HomeSBloger   May 11, 2015   Comments Off on Fullerton Homes Market Comparison Report

Fullerton Homes Market Comparison Report (March 2009 vs. March 2010)

We analyze several housing market indicators in order to present an in-depth breakdown of Fullerton Homes Market comparing March 2009 to March 2010.

Summary of Key Points

Fullerton Homes for Sale is showing continuing signs of improvement with median sales price climbing up while at the same time houses are selling faster. Sellers received 98% of asking price compared to 96% last year.

Key Statistics,Fullerton,CA: Median Sales Price (7.3%), Median Days on Market (-13.01%), and Number of Units Sold (13.79%), Sales Price to List Price Ratio (March 09 96% – March 10 98%)

Fullerton Homes

The city of Fullerton experienced a 7.30% increase in median sales price from last year going up from $487,267 (March 09) to $522,846 (March 2010). Median days on market data for Fullerton show that houses are selling faster than March 09. It took 63 days in March 09 for a house to sell and for March 10 that number has gone down to 55 days (a 13.01% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 58 units were sold compared to 66 for March 10 (13.79% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Fullerton. SP/LP ratio for March 09 was 96% compared to 98% for March 10.

Let’s take a brief look at neighbors Anaheim and Orange. Anaheim Homes featured a 10.86% increase in median sales price ($335,976 March 09 – $372,477 March 10) and Orange Homes saw a 5.04% increase ($489,470 March 09 – $514,148 March 10). Are houses in Anaheim and Orange selling faster or slower this year? Well, Anaheim experienced a 12.89% decrease (68 to 59 days) in median days on market and Orange a 10.69% increase (73 to 81 days). In the units sold category, Anaheim sold 13 units less (-9.77%) in March 2010 than 09 and Orange sold 11 units less (-10.98%) in March 2010 than March 09.

Consult latest research and find Homes in all major cities in California including Fullerton Homes, Anaheim Homes, Orange Homes.

You can also access Fullerton Homes for viewing the latest market inventory

Homes for sale for MLS Search,
Bank REO / Short Sale Search
Foreclosure Search ( Outside MLS)
Just Listed Properties
Income Properties (1-4 units)
Condo searches
New Construction Homes
In addition you will find comprehensive Lending information on FHA, VA, USDA, and Conventional Loans. There are web pages for each major city in California with loan products specific to the city including City Down Payment assistance offered.

HomeSearchFinder.com provides a Proprietary Affordability Mortgage Calculator. It matches your profile against the programs our lenders offer and instantly communicates the PreQual Mortgage amount and the Purchase price you are eligible for.