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BY LARRY GIERER - lgierer@ledger-enquirer.com
More than 700 Christmas trees will be delivered to active duty Fort Benning soldiers and their families by the Trees for Troops program on Dec. 6.
The trees will be distributed on a first come, first served basis beginning at 10:30 a.m. in the parking lot behind the main post car wash.
This is the sixth year that Christmas tree growers and retailers nationwide have donated Christmas Trees for military families.
Approximately 17,000 trees from 29 states are expected to be delivered to military bases in the United States and overseas this year.
Since 2008 consumers have been able to participate in the program by purchasing and donating a tree at nearly 40 farm and retail lot locations during Trees for Troops weekend.
To find out more, contact the Christmas SPIRIT Foundation at 636-449-5060.
Read more: http://www.ledger-enquirer.com/2010/12/03/1369019/tree-for-troops-to-deliver-more.html#ixzz173rei96z
Friday, December 3, 2010
Tuesday, October 26, 2010
10 reasons you should buy a home now
By Brett Arends, The Wall Street Journal
You can get a good deal
You can get a house at a bargain price now -- especially if you play hardball. This is a buyer's market. Most of the other buyers have vanished since the tax credits on purchases expired.
We're four to five years into the biggest housing bust in modern U.S. history. And prices have come down a long way -- about 30% from their peak, according to the S&P/Case-Shiller Indices, which track home prices in cities across the country. Yes, it's mixed. New York's prices are down only 20%. Arizona's have been halved.
Will prices fall further? Sure, they could. You probably won't catch the bottom, but it doesn't really matter so much in the long haul.
Mortgages are cheap
You can get a 30-year home loan for about 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago, they were about 6.3%. That drop slashes your monthly repayment by a fifth.
If inflation picks up, you won't see these mortgage rates again. And if we get deflation and rates fall further, you can refinance.
You'll save on taxes
You can deduct mortgage interest from your income taxes. You can deduct your real-estate taxes. And you'll get a tax break on capital gains -- if any -- when you sell.
Sure, you'll need to do your math. You'll get the income tax break only if you itemize your deductions, and you may be better off taking the standard deduction instead. The tax breaks are more valuable the more you earn and the bigger your mortgage. But many people will find that these breaks mean owning costs them less, often a lot less, than renting.
It'll be yours
When you own, you can have the kitchen and bathrooms you want. You can move the walls, build an extension -- zoning permitted -- or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible.
Also, you'll feel better about your home if you own it. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Prime Minister Margaret Thatcher had just begun selling off public housing to the tenants.
"You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy."
It was a small sign that said something big.
You'll get a better home
In many parts of the country, it can be hard to find a good rental. All the best places are sold as condos. Money talks.
But this is a case-by-case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. Generally speaking, however, if you want a good home in the best neighborhood, you're better off buying.
It offers some inflation protection
Although housing can't entirely protect you from inflation, studies by professor Karl "Chip" Case, of Case-Shiller, and others suggest that over the long term, housing has tended to beat inflation by a couple of percentage points a year. That's valuable inflation insurance, especially if you're young, raising a family and thinking about the next 30 or 40 years.
In the recent past, inflation-protected government bonds or Treasury inflation-protected securities offered easier forms of inflation insurance. But yields there have plummeted of late. That also makes homeownership look a little better by contrast.
It's risk capital
Your home isn't the stock market, and you shouldn't view it as a way to get rich. But if the economy does surprise us all and start booming, sooner or later real-estate prices will head up again, too.
One lesson from the past few years is that stocks are incredibly hard for most normal people to own in large quantities -- for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy -- if it happens -- and still managing to sleep at night.
It's forced savings
If you can rent an apartment for $2,000 a month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? Most people won't.
Once again, you have to do the math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.
There's a lot to choose from
There is a glut of homes in most of the country. The National Association of Realtors puts the current inventory at around 4 million homes. That's below last year's peak but well above typical levels and enough for about a year's worth of sales.
More homes keep coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice as well as great prices.
Sooner or later, the market will clear
Demand and supply will meet. The U.S. population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes.
Meanwhile, this housing glut will work itself out. Many of the homes will be bought. But many more will simply be destroyed -- deliberately or by inaction. This is already happening. Even two years ago, when I toured western Florida, I saw bankrupt condo developments that were fast becoming derelict.
And, finally, a lot of the glut simply won't matter to you. It's concentrated in a few areas, such as Florida and Nevada. Unless you live there, the glut won't have any long-term impact on housing supply in your town.
You can get a good deal
You can get a house at a bargain price now -- especially if you play hardball. This is a buyer's market. Most of the other buyers have vanished since the tax credits on purchases expired.
We're four to five years into the biggest housing bust in modern U.S. history. And prices have come down a long way -- about 30% from their peak, according to the S&P/Case-Shiller Indices, which track home prices in cities across the country. Yes, it's mixed. New York's prices are down only 20%. Arizona's have been halved.
Will prices fall further? Sure, they could. You probably won't catch the bottom, but it doesn't really matter so much in the long haul.
Mortgages are cheap
You can get a 30-year home loan for about 4.3%. What's not to like? These are the lowest rates on record. As recently as two years ago, they were about 6.3%. That drop slashes your monthly repayment by a fifth.
If inflation picks up, you won't see these mortgage rates again. And if we get deflation and rates fall further, you can refinance.
You'll save on taxes
You can deduct mortgage interest from your income taxes. You can deduct your real-estate taxes. And you'll get a tax break on capital gains -- if any -- when you sell.
Sure, you'll need to do your math. You'll get the income tax break only if you itemize your deductions, and you may be better off taking the standard deduction instead. The tax breaks are more valuable the more you earn and the bigger your mortgage. But many people will find that these breaks mean owning costs them less, often a lot less, than renting.
It'll be yours
When you own, you can have the kitchen and bathrooms you want. You can move the walls, build an extension -- zoning permitted -- or paint everything bright orange. Few landlords are so indulgent; for renters, these types of changes are often impossible.
Also, you'll feel better about your home if you own it. Many years ago, when I was working for a political campaign in England, I toured a working-class northern town. Prime Minister Margaret Thatcher had just begun selling off public housing to the tenants.
"You can tell the ones that have been bought," said my local guide. "They've painted the front door. It's the first thing people do when they buy."
It was a small sign that said something big.
You'll get a better home
In many parts of the country, it can be hard to find a good rental. All the best places are sold as condos. Money talks.
But this is a case-by-case issue: In Miami right now there are so many vacant luxury condos that owners will rent them out for a fraction of the cost of owning. Generally speaking, however, if you want a good home in the best neighborhood, you're better off buying.
It offers some inflation protection
Although housing can't entirely protect you from inflation, studies by professor Karl "Chip" Case, of Case-Shiller, and others suggest that over the long term, housing has tended to beat inflation by a couple of percentage points a year. That's valuable inflation insurance, especially if you're young, raising a family and thinking about the next 30 or 40 years.
In the recent past, inflation-protected government bonds or Treasury inflation-protected securities offered easier forms of inflation insurance. But yields there have plummeted of late. That also makes homeownership look a little better by contrast.
It's risk capital
Your home isn't the stock market, and you shouldn't view it as a way to get rich. But if the economy does surprise us all and start booming, sooner or later real-estate prices will head up again, too.
One lesson from the past few years is that stocks are incredibly hard for most normal people to own in large quantities -- for practical as well as psychological reasons. Equity in a home is another way of linking part of your portfolio to the long-term growth of the economy -- if it happens -- and still managing to sleep at night.
It's forced savings
If you can rent an apartment for $2,000 a month instead of buying one for $2,400 a month, renting may make sense. But will you save that $400 for your future? Most people won't.
Once again, you have to do the math, but the part of your mortgage payment that goes to principal repayment isn't a cost. You're just paying yourself by building equity. As a forced monthly saving, it's a good discipline.
There's a lot to choose from
There is a glut of homes in most of the country. The National Association of Realtors puts the current inventory at around 4 million homes. That's below last year's peak but well above typical levels and enough for about a year's worth of sales.
More homes keep coming onto the market, too, as the banks slowly unload their inventory of unsold properties. That means great choice as well as great prices.
Sooner or later, the market will clear
Demand and supply will meet. The U.S. population is forecast to grow by more than 100 million people over the next 40 years. That means maybe 40 million new households looking for homes.
Meanwhile, this housing glut will work itself out. Many of the homes will be bought. But many more will simply be destroyed -- deliberately or by inaction. This is already happening. Even two years ago, when I toured western Florida, I saw bankrupt condo developments that were fast becoming derelict.
And, finally, a lot of the glut simply won't matter to you. It's concentrated in a few areas, such as Florida and Nevada. Unless you live there, the glut won't have any long-term impact on housing supply in your town.
Tuesday, October 19, 2010
Americans Still Believe Buying a Home Is a Good Financial Decision
by http://www.realtor.org/
NAR's (National Association of Realtors) eighth annual Housing Opportunity Pulse Survey reveals that nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. The telephone survey of 1,209 urban and suburban adults in the top 25 metropolitan statistical areas was conducted for NAR by American Strategies and Myers Research & Strategic Services for NAR's Housing Opportunity Program.
Some key results:
Americans continue to believe that buying a home is a good financial decision (68 percent belive this strongly). More than two-thirds of respondents say that now is a good time to buy a home.
Job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery.Respondents see the recession and job losses as the main reasons for the foreclosure problem, a shift from last year when they more likely to blame homeowners who bought homes they could not afford.
A majority of renters say that owning a home at some point in the future is either one of their highest priorities (39 percent) or a moderate priority (24 percent). Just 21 percent of renters say that owning a home is not a priority at all.
Frustration with banks is up: now a majority worry that banks have made it too hard to qualify for a home mortgage loan.
51 percent of respondents say foreclosures remain a big or moderate problem in their area. While there has been a significant drop in the percentage of those surveyed who say foreclosures have increased, 51 percent say that the rate of foreclosures is about the same as it was last year.
Most of those surveyed say that it is harder to sell a home in their neighborhood than it was a year ago.Looking forward, 70 percent expect real estate sales in their neighborhood to remain about the same over the next few months.
A nearly identical number (69 percent), also expect home values to remain the same.Nearly one-quarter (23 percent) are now very concerned about the number of homes and condos for sale in their area—a number that is up just 7 points from last year.
Most respondents are more concerned about the drop in home values than they are about home costs being too high. Still, cost remains the significant barrier to many who would otherwise like to buy a home.
See more information about homebuying at http://www.jimblalockandassociates.com/
NAR's (National Association of Realtors) eighth annual Housing Opportunity Pulse Survey reveals that nearly eight out of 10 respondents believe buying a home is a good financial decision, despite ongoing challenges with the economy and housing market. The telephone survey of 1,209 urban and suburban adults in the top 25 metropolitan statistical areas was conducted for NAR by American Strategies and Myers Research & Strategic Services for NAR's Housing Opportunity Program.
Some key results:
Americans continue to believe that buying a home is a good financial decision (68 percent belive this strongly). More than two-thirds of respondents say that now is a good time to buy a home.
Job insecurity and the lack of jobs continue to be the primary obstacle to home ownership and market recovery.Respondents see the recession and job losses as the main reasons for the foreclosure problem, a shift from last year when they more likely to blame homeowners who bought homes they could not afford.
A majority of renters say that owning a home at some point in the future is either one of their highest priorities (39 percent) or a moderate priority (24 percent). Just 21 percent of renters say that owning a home is not a priority at all.
Frustration with banks is up: now a majority worry that banks have made it too hard to qualify for a home mortgage loan.
51 percent of respondents say foreclosures remain a big or moderate problem in their area. While there has been a significant drop in the percentage of those surveyed who say foreclosures have increased, 51 percent say that the rate of foreclosures is about the same as it was last year.
Most of those surveyed say that it is harder to sell a home in their neighborhood than it was a year ago.Looking forward, 70 percent expect real estate sales in their neighborhood to remain about the same over the next few months.
A nearly identical number (69 percent), also expect home values to remain the same.Nearly one-quarter (23 percent) are now very concerned about the number of homes and condos for sale in their area—a number that is up just 7 points from last year.
Most respondents are more concerned about the drop in home values than they are about home costs being too high. Still, cost remains the significant barrier to many who would otherwise like to buy a home.
See more information about homebuying at http://www.jimblalockandassociates.com/
Tuesday, October 12, 2010
CAMPAIGN TO HELP MILITARY FAMILIES FACING FORECLOSURE
HouseLogic will donate $1 to USA Cares every time someone “likes” the Operation Home Relief Cause page, (http://apps.facebook.com/causes/532222), on Facebook and will match individual donations made to the cause, up to $20,000.
The National Association of Realtors®’ HouseLogic, a free, comprehensive consumer website about all aspects of homeownership, launched Operation Home Relief, a new Facebook Causes campaign. The campaign aims to increase awareness, rally support and raise funding for USA Cares, a nonprofit organization that provides counseling and financial foreclosure assistance to post-9/11 active duty U.S. military service personnel, veterans and their families. Visit www.houselogic.com & www.usacares.org for more information.
The National Association of Realtors®’ HouseLogic, a free, comprehensive consumer website about all aspects of homeownership, launched Operation Home Relief, a new Facebook Causes campaign. The campaign aims to increase awareness, rally support and raise funding for USA Cares, a nonprofit organization that provides counseling and financial foreclosure assistance to post-9/11 active duty U.S. military service personnel, veterans and their families. Visit www.houselogic.com & www.usacares.org for more information.
Monday, October 4, 2010
6 Things You Think Add Value to Your Home -- But Really Don't
by Jean Folger
Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home's value. Certain projects, such as adding a well thought-out family room -- or other functional space -- can be a wise investment, as they do add to the value of the home. Other projects, however, allow little opportunity to recover the costs when it's time to sell.
Even though the current homeowner may greatly appreciate the improvement, a buyer could be unimpressed and unwilling to factor the upgrade into the purchase price. Homeowners, therefore, need to be careful with how they choose to spend their money if they are expecting the investment to pay off. Here are six things you think add value to your home, but really don't:
1. Swimming Pools
Swimming pools are one of those things that may be nice to enjoy at your friend's or neighbor's house, but that can be a hassle to have at your own home. Many potential homebuyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen. Families with young children in particular may turn down an otherwise perfect house because of the pool (and the fear of a child going in the pool unsupervised). In fact, a would-be buyer's offer may be contingent on the home seller dismantling an above-ground pool or filling in an in-ground pool.
An in-ground pool costs anywhere from $10,000 to more than $100,000, and additional yearly maintenance expenses need to be considered. That's a significant amount of money that might never be recouped if and when the house is sold.
2. Overbuilding for the Neighborhood
Homeowners may, in an attempt to increase the value of a home, make improvements to the property that unintentionally make the home fall outside of the norm for the neighborhood. While a large, expensive remodel, such as adding a second story with two bedrooms and a full bath, might make the home more appealing, it will not add significantly to the resale value if the house is in the midst of a neighborhood of small, one-story homes. (Overbuilding might be anticipating your neighborhood's next move.)
In general, homebuyers do not want to pay $250,000 for a house that sits in a neighborhood with an average sales price of $150,000; the house will seem overpriced even if it is more desirable than the surrounding properties. The buyer will instead look to spend the $250,000 in a $250,000 neighborhood. The house might be beautiful, but any money spent on overbuilding might be difficult to recover unless the other homes in the neighborhood follow suit.
3. Extensive Landscaping
Homebuyers may appreciate well-maintained or mature landscaping, but don't expect the home's value to increase because of it. A beautiful yard may encourage potential buyers to take a closer look at the property, but will probably not add to the selling price. If a buyer is unable or unwilling to put in the effort to maintain a garden, it will quickly become an eyesore, or the new homeowner might need to pay a qualified gardener to take charge. Either way, many buyers view elaborate landscaping as a burden (even though it might be attractive) and, as a result, are not likely to consider it when placing value on the home.
4. High-End Upgrades
Putting stainless steel appliances in your kitchen or imported tiles in your entryway may do little to increase the value of your home if the bathrooms are still vinyl-floored and the shag carpeting in the bedrooms is leftover from the '60s. Upgrades should be consistent to maintain a similar style and quality throughout the home. A home that has a beautifully remodeled and modern kitchen can be viewed as a work in project if the bathrooms remain functionally obsolete. The remodel, therefore, might not fetch as high a return as if the rest of the home were brought up to the same level. High-quality upgrades generally increase the value of high-end homes, but not necessarily mid-range houses where the upgrade may be inconsistent with the rest of the home.
In addition, specific high-end features such as media rooms with specialized audio, visual or gaming equipment may be appealing to a few prospective buyers, but many potential homebuyers would not consider paying more for the home simply because of this additional feature. Chances are that the room would be re-tasked to a more generic living space.
5. Wall-to-Wall Carpeting
While real estate listings may still boast "new carpeting throughout" as a selling point, potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. Carpeting is expensive to purchase and install. In addition, there is growing concern over the healthfulness of carpeting due to the amount of chemicals used in its processing and the potential for allergens (a serious concern for families with children). Add to that the probability that the carpet style and color that you thought was absolutely perfect might not be what someone else had in mind.
Because of these hurdles, wall-to-wall carpet is something on which it's difficult to recoup the costs. Removing carpeting and restoring wood floors is usually a more profitable investment.
6. Invisible Improvements
Invisible improvements are those costly projects that you know make your house a better place to live in, but that nobody else would notice -- or likely care about. A new plumbing system or HVAC unit (heating, venting and air conditioning) might be necessary, but don't expect it to recover these costs when it comes time to sell. Many homebuyers simply expect these systems to be in good working order and will not pay extra just because you recently installed a new heater. It may be better to think of these improvements in terms of regular maintenance, and not an investment in your home's value.
The Bottom Line
It is difficult to imagine spending thousands of dollars on a home-improvement project that will not be reflected in the home's value when it comes time to sell. There is no simple equation for determining which projects will garner the highest return, or the most bang for your buck. Some of this depends on the local market and even the age and style of the house. Homeowners frequently must choose between an improvement that they would really love to have (the in-ground swimming pool) and one that would prove to be a better investment. A bit of research, or the advice of a qualified real estate professional, can help homeowners avoid costly projects that don't really add value to a home.
Read more Real Estate Tips:
http://www.jimblalockandassociates.com/RealEstateTips/HomeSelling/default.html
Every homeowner must pay for routine home maintenance, such as replacing worn-out plumbing components or staining the deck, but some choose to make improvements with the intention of increasing the home's value. Certain projects, such as adding a well thought-out family room -- or other functional space -- can be a wise investment, as they do add to the value of the home. Other projects, however, allow little opportunity to recover the costs when it's time to sell.
Even though the current homeowner may greatly appreciate the improvement, a buyer could be unimpressed and unwilling to factor the upgrade into the purchase price. Homeowners, therefore, need to be careful with how they choose to spend their money if they are expecting the investment to pay off. Here are six things you think add value to your home, but really don't:
1. Swimming Pools
Swimming pools are one of those things that may be nice to enjoy at your friend's or neighbor's house, but that can be a hassle to have at your own home. Many potential homebuyers view swimming pools as dangerous, expensive to maintain and a lawsuit waiting to happen. Families with young children in particular may turn down an otherwise perfect house because of the pool (and the fear of a child going in the pool unsupervised). In fact, a would-be buyer's offer may be contingent on the home seller dismantling an above-ground pool or filling in an in-ground pool.
An in-ground pool costs anywhere from $10,000 to more than $100,000, and additional yearly maintenance expenses need to be considered. That's a significant amount of money that might never be recouped if and when the house is sold.
2. Overbuilding for the Neighborhood
Homeowners may, in an attempt to increase the value of a home, make improvements to the property that unintentionally make the home fall outside of the norm for the neighborhood. While a large, expensive remodel, such as adding a second story with two bedrooms and a full bath, might make the home more appealing, it will not add significantly to the resale value if the house is in the midst of a neighborhood of small, one-story homes. (Overbuilding might be anticipating your neighborhood's next move.)
In general, homebuyers do not want to pay $250,000 for a house that sits in a neighborhood with an average sales price of $150,000; the house will seem overpriced even if it is more desirable than the surrounding properties. The buyer will instead look to spend the $250,000 in a $250,000 neighborhood. The house might be beautiful, but any money spent on overbuilding might be difficult to recover unless the other homes in the neighborhood follow suit.
3. Extensive Landscaping
Homebuyers may appreciate well-maintained or mature landscaping, but don't expect the home's value to increase because of it. A beautiful yard may encourage potential buyers to take a closer look at the property, but will probably not add to the selling price. If a buyer is unable or unwilling to put in the effort to maintain a garden, it will quickly become an eyesore, or the new homeowner might need to pay a qualified gardener to take charge. Either way, many buyers view elaborate landscaping as a burden (even though it might be attractive) and, as a result, are not likely to consider it when placing value on the home.
4. High-End Upgrades
Putting stainless steel appliances in your kitchen or imported tiles in your entryway may do little to increase the value of your home if the bathrooms are still vinyl-floored and the shag carpeting in the bedrooms is leftover from the '60s. Upgrades should be consistent to maintain a similar style and quality throughout the home. A home that has a beautifully remodeled and modern kitchen can be viewed as a work in project if the bathrooms remain functionally obsolete. The remodel, therefore, might not fetch as high a return as if the rest of the home were brought up to the same level. High-quality upgrades generally increase the value of high-end homes, but not necessarily mid-range houses where the upgrade may be inconsistent with the rest of the home.
In addition, specific high-end features such as media rooms with specialized audio, visual or gaming equipment may be appealing to a few prospective buyers, but many potential homebuyers would not consider paying more for the home simply because of this additional feature. Chances are that the room would be re-tasked to a more generic living space.
5. Wall-to-Wall Carpeting
While real estate listings may still boast "new carpeting throughout" as a selling point, potential homebuyers today may cringe at the idea of having wall-to-wall carpeting. Carpeting is expensive to purchase and install. In addition, there is growing concern over the healthfulness of carpeting due to the amount of chemicals used in its processing and the potential for allergens (a serious concern for families with children). Add to that the probability that the carpet style and color that you thought was absolutely perfect might not be what someone else had in mind.
Because of these hurdles, wall-to-wall carpet is something on which it's difficult to recoup the costs. Removing carpeting and restoring wood floors is usually a more profitable investment.
6. Invisible Improvements
Invisible improvements are those costly projects that you know make your house a better place to live in, but that nobody else would notice -- or likely care about. A new plumbing system or HVAC unit (heating, venting and air conditioning) might be necessary, but don't expect it to recover these costs when it comes time to sell. Many homebuyers simply expect these systems to be in good working order and will not pay extra just because you recently installed a new heater. It may be better to think of these improvements in terms of regular maintenance, and not an investment in your home's value.
The Bottom Line
It is difficult to imagine spending thousands of dollars on a home-improvement project that will not be reflected in the home's value when it comes time to sell. There is no simple equation for determining which projects will garner the highest return, or the most bang for your buck. Some of this depends on the local market and even the age and style of the house. Homeowners frequently must choose between an improvement that they would really love to have (the in-ground swimming pool) and one that would prove to be a better investment. A bit of research, or the advice of a qualified real estate professional, can help homeowners avoid costly projects that don't really add value to a home.
Read more Real Estate Tips:
http://www.jimblalockandassociates.com/RealEstateTips/HomeSelling/default.html
Friday, October 1, 2010
Step #10 to Buying a Home…Moving In!
You've done it. You've looked at properties, made an offer, obtained financing and gone to closing. The home is yours. Is there any more to the home buying process?
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Whether you're a first-time buyer or a repeat buyer, there are several more steps you'll want to take.
Those papers you received at settlement are extremely valuable, so hold on to them! In the short-term they can help establish tax deductions for the year in which the property was purchased. In the future, such papers will be important for tax purposes when the property is sold, and in some cases, for calculating estate taxes.
Also at closing, determine the status of the utilities required by the home, items such as water, sewage, gas, electric and oil service. You want utility bills to be paid in full by owners as of closing and you also want services transferred to your name for billing. Usually such transfers can be done without turning off utilities. REALTORS® can provide contact numbers and related information.
About two weeks after closing, contact your local property records office and confirm that your deed has been officially recorded. Such records are public notices that show your interest in the property.
Moving in:
It is generally understood that sellers will leave homes "broom clean" when moving out. This expression does not mean "vacuumed" or "spotless." Broom clean makes sense because it means the house is ready to be painted and cleaned.
It is generally understood that sellers will leave homes "broom clean" when moving out. This expression does not mean "vacuumed" or "spotless." Broom clean makes sense because it means the house is ready to be painted and cleaned.
Your home, your money
For most owners a home is the largest single asset they hold, so it makes sense to protect that asset.
For most owners a home is the largest single asset they hold, so it makes sense to protect that asset.
Many owners make a photo or video record of the home and their possessions for insurance purposes and then keep the records in a safety deposit box. Your insurance provider can recommend what to photograph and how to secure it.
You want to maintain fire, theft and liability insurance. As the value of your property increases such coverage should also rise. Again, speak with your insurance professional for details.
Lastly, enjoy your home. Owning real estate involves contracts, loans, and taxes, but ultimately what's most important is that home ownership should be a wonderful experience. Enjoy!
http://www.jimblalockandassociates.com/howtogetstarted.html
Thursday, September 30, 2010
Step #9 to Buying a Home…Close the Loan
Go to any local courthouse and you can find property records detailing real estate ownership in your community -- sometimes records that date back hundreds of years.
These records are important because they provide today's owners with proof that they have good, marketable and insurable title to the property they are selling. Equally important, such records enable buyers to provide proof of ownership when they sell.
The closing process, which in different parts of the country is also known as "settlement" or "escrow," is increasingly computerized and automated. In many cases, buyers and sellers don't need to attend a specific event; signed paperwork can be sent to the closing agent via overnight delivery.
In practice, closings bring together a variety of parties who are part of the "transaction" process. For example, while the history of property ownership has been checked, it's possible that the records contain errors, unrecorded claims or flaws in the review itself, thus title insurance is necessary. At closing, transfer taxes must be paid and other claims must also be settled (including closing costs, legal fees and adjustments). In most transactions, the closing agent also completes the paperwork needed to record the loan.
What to expect :
Settlement is a brief process where all of the necessary paperwork needed to complete the transaction is signed. Closing is typically held in an office setting, sometimes with both buyer and seller at the same table, sometimes with each party completing their papers separately.
Whatever the case, the result is that title to the property is transferred from seller to buyer. The buyer receives the keys and the seller receives payment for the home. From the amount credited to the seller, the closing agent subtracts money to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and filed with local property record offices.
What you need to do:
One of the best parts of settlement is that buyers and sellers need to do very little.
Before closing, buyers typically have a final opportunity to walk through the property to assure that its condition has not materially changed since the sale agreement was signed. At closing itself, all papers have been prepared by closing agents, title companies, lenders and lawyers. This paperwork reflects the sale agreement and allows all parties to the transaction to verify their interests. For instance, buyers get the title to the property, lenders have their loans recorded in the public records and state governments collect their transfer taxes.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
These records are important because they provide today's owners with proof that they have good, marketable and insurable title to the property they are selling. Equally important, such records enable buyers to provide proof of ownership when they sell.
The closing process, which in different parts of the country is also known as "settlement" or "escrow," is increasingly computerized and automated. In many cases, buyers and sellers don't need to attend a specific event; signed paperwork can be sent to the closing agent via overnight delivery.
In practice, closings bring together a variety of parties who are part of the "transaction" process. For example, while the history of property ownership has been checked, it's possible that the records contain errors, unrecorded claims or flaws in the review itself, thus title insurance is necessary. At closing, transfer taxes must be paid and other claims must also be settled (including closing costs, legal fees and adjustments). In most transactions, the closing agent also completes the paperwork needed to record the loan.
What to expect :
Settlement is a brief process where all of the necessary paperwork needed to complete the transaction is signed. Closing is typically held in an office setting, sometimes with both buyer and seller at the same table, sometimes with each party completing their papers separately.
Whatever the case, the result is that title to the property is transferred from seller to buyer. The buyer receives the keys and the seller receives payment for the home. From the amount credited to the seller, the closing agent subtracts money to pay off the existing mortgage and other transaction costs. Deeds, loan papers, and other documents are prepared, signed and filed with local property record offices.
What you need to do:
One of the best parts of settlement is that buyers and sellers need to do very little.
Before closing, buyers typically have a final opportunity to walk through the property to assure that its condition has not materially changed since the sale agreement was signed. At closing itself, all papers have been prepared by closing agents, title companies, lenders and lawyers. This paperwork reflects the sale agreement and allows all parties to the transaction to verify their interests. For instance, buyers get the title to the property, lenders have their loans recorded in the public records and state governments collect their transfer taxes.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Wednesday, September 29, 2010
Step #8 to Buying a Home…Get Insurance
No one would drive a car without insurance, so it figures that no homeowner should be without insurance.The essential idea behind various forms of real estate insurance is to protect owners in the event of catastrophe. If something goes wrong, insurance can be the bargain of a lifetime.
What kind and how much?
There are various forms of insurance associated with home ownership, including these major types:
Title insurance:
Purchased with a one-time fee at closing, title insurance protects owners in the event that title to the property is found to be invalid. Coverage includes "lenders" policies, which protect buyers up to the mortgage value of the property, and "owners" coverage, which protects owners up to the purchase price. In other words, "owners" coverage protects both the mortgage amount and the value of the down payment.
Homeowners' insurance:
Homeowner's insurance provides fire, theft and liability coverage. Homeowners' policies are required by lenders and often cover a surprising number of items, including in some cases such property as wedding rings, furniture and home office equipment.
Flood insurance:
Generally required in high-risk flood-prone areas, this insurance is issued by the federal government and provides as much as $250,000 in coverage for a single-family home plus $100,000 for contents. Local REALTORS® can explain which locations require such coverage.
Home warranties:
With new homes, buyers want assurance that if something goes wrong after completion the builder will be there to make repairs. But what if the builder refuses to do the work or goes out of business?Home warranties bought from third parties by home builders are generally designed to provide several forms of protection: workmanship for the first year, mechanical problems such as plumbing and wiring for the first two years, and structural defects for up to 10 years.Home warranties for existing homes are typically one-year service agreements purchased by sellers. In the event of a covered defect or breakdown, the warranty firm will step in and make the repair or cover its cost.Insurance policies and warranties have limitations and individual programs have different levels of coverage, deductibles and costs. For details, speak with REALTORS®, insurance brokers and home builders.
Where to look?
REALTORS® often provide home insurance and such policies are also available from insurance brokers.
How do you get insurance?
The time to obtain insurance and warranty coverage is at closing, so speak with a REALTOR® or insurance broker prior to closing. Be sure to ask about limitations, costs, deductibles and "endorsements" (additional forms of coverage that may be available).
Read All 10 Steps for First Time Homebuyers:http://www.jimblalockandassociates.com/howtogetstarted.html
What kind and how much?
There are various forms of insurance associated with home ownership, including these major types:
Title insurance:
Purchased with a one-time fee at closing, title insurance protects owners in the event that title to the property is found to be invalid. Coverage includes "lenders" policies, which protect buyers up to the mortgage value of the property, and "owners" coverage, which protects owners up to the purchase price. In other words, "owners" coverage protects both the mortgage amount and the value of the down payment.
Homeowners' insurance:
Homeowner's insurance provides fire, theft and liability coverage. Homeowners' policies are required by lenders and often cover a surprising number of items, including in some cases such property as wedding rings, furniture and home office equipment.
Flood insurance:
Generally required in high-risk flood-prone areas, this insurance is issued by the federal government and provides as much as $250,000 in coverage for a single-family home plus $100,000 for contents. Local REALTORS® can explain which locations require such coverage.
Home warranties:
With new homes, buyers want assurance that if something goes wrong after completion the builder will be there to make repairs. But what if the builder refuses to do the work or goes out of business?Home warranties bought from third parties by home builders are generally designed to provide several forms of protection: workmanship for the first year, mechanical problems such as plumbing and wiring for the first two years, and structural defects for up to 10 years.Home warranties for existing homes are typically one-year service agreements purchased by sellers. In the event of a covered defect or breakdown, the warranty firm will step in and make the repair or cover its cost.Insurance policies and warranties have limitations and individual programs have different levels of coverage, deductibles and costs. For details, speak with REALTORS®, insurance brokers and home builders.
Where to look?
REALTORS® often provide home insurance and such policies are also available from insurance brokers.
How do you get insurance?
The time to obtain insurance and warranty coverage is at closing, so speak with a REALTOR® or insurance broker prior to closing. Be sure to ask about limitations, costs, deductibles and "endorsements" (additional forms of coverage that may be available).
Read All 10 Steps for First Time Homebuyers:http://www.jimblalockandassociates.com/howtogetstarted.html
Tuesday, September 28, 2010
Step #7 to Buying a Home…Make an Offer
REALTOR® groups, working with legal counsel, have developed forms that are appropriate for realty transactions in specific communities. Such documents include numerous sale conditions and their wording should be carefully reviewed to assure that they reflect the terms you want to offer. REALTORS® can explain the general contracting process in your community as well as his or her role.
While much attention is spent on offering prices, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value for buyers -- or additional costs. Terms are extremely important and should be carefully reviewed.
How much?
You sometimes hear that the amount of your offer should be x percent below the seller's asking price or y percent less than you're really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes even more. If demand is weak, then offers below the asking price may be in order.
How do you make an offer?
The process of making offers varies around the country. In a typical situation, you will complete an offer that the REALTOR® will present to the owner and the owner's representative. The owner, in turn, may accept the offer, reject it or make a counter-offer.
Because counter-offers are common (any change in an offer can be considered a "counter-offer"), it's important for buyers to remain in close contact with REALTORS® during the negotiation process so that any proposed changes can be quickly reviewed.
How many inspections?
A number of inspections are common in residential realty transactions. They include checks for termites, surveys to determine boundaries, appraisals to determine value for lenders, title reviews and structural inspections.
Structural inspections are particularly important. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. Such inspections for a single-family home often require two or three hours, and buyers should attend. This is an opportunity to examine the property's mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
While much attention is spent on offering prices, a proposal to buy includes both the price and terms. In some cases, terms can represent thousands of dollars in additional value for buyers -- or additional costs. Terms are extremely important and should be carefully reviewed.
How much?
You sometimes hear that the amount of your offer should be x percent below the seller's asking price or y percent less than you're really willing to pay. In practice, the offer depends on the basic laws of supply and demand: If many buyers are competing for homes, then sellers will likely get full-price offers and sometimes even more. If demand is weak, then offers below the asking price may be in order.
How do you make an offer?
The process of making offers varies around the country. In a typical situation, you will complete an offer that the REALTOR® will present to the owner and the owner's representative. The owner, in turn, may accept the offer, reject it or make a counter-offer.
Because counter-offers are common (any change in an offer can be considered a "counter-offer"), it's important for buyers to remain in close contact with REALTORS® during the negotiation process so that any proposed changes can be quickly reviewed.
How many inspections?
A number of inspections are common in residential realty transactions. They include checks for termites, surveys to determine boundaries, appraisals to determine value for lenders, title reviews and structural inspections.
Structural inspections are particularly important. During these examinations, an inspector comes to the property to determine if there are material physical defects and whether expensive repairs and replacements are likely to be required in the next few years. Such inspections for a single-family home often require two or three hours, and buyers should attend. This is an opportunity to examine the property's mechanics and structure, ask questions and learn far more about the property than is possible with an informal walk-through.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Monday, September 27, 2010
Step #6 to Buying a Home…Get Funding
Often the cost of real estate financing is routinely greater than the original purchase price of a home (after including interest and closing costs). Because financing is so important, buyers should have as much information as possible regarding mortgage options and costs.
Realtor.com® provides consumers with extensive mortgage information as well as a variety of loan calculators. Local REALTORS® can provide mortgage information, discuss financing options and recommend loan sources. In addition, some REALTORS® also originate loans.
What kind of loan?
There are thousands of loans available out there from a variety of lenders, but in general, the mortgage you choose will likely be determined by at least several key factors:
• How much down? Loans with 5 percent down or less are available -- in fact, loans from major lenders with no money down have appeared in recent years.
• If you place less than 20 percent down, lenders will want the mortgage guaranteed by an outside third party such as the Veterans Administration (VA), the Federal Housing Administration (FHA) or a private mortgage insurer (PMI, or private mortgage insurance, is required by lender to protect against any mortgage defaults). Millions of VA, FHA and PMI loans are generated each year.
• How's your credit? The best rates and terms are only available to those with solid credit. To get the best loans, make a point of paying credit cards, installment payments, rent and mortgage bills in full and on time.
• Are you a first-time buyer? It might seem that "first-time buyer" means someone who has never owned property before, but under most state programs, the term refers to those who have not owned property within the past three years. State-backed first-timer programs often feature smaller downpayments and below-market interest rates. For details, speak with your local REALTOR®.
How do you get a loan?
To obtain a loan you must complete a written loan application and provide supporting documentation. Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed. During the prequalification procedure, the loan officer will describe the type of paperwork required.
Where do you get a loan?
Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies. A growing number of REALTORS® can also arrange financing.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Realtor.com® provides consumers with extensive mortgage information as well as a variety of loan calculators. Local REALTORS® can provide mortgage information, discuss financing options and recommend loan sources. In addition, some REALTORS® also originate loans.
What kind of loan?
There are thousands of loans available out there from a variety of lenders, but in general, the mortgage you choose will likely be determined by at least several key factors:
• How much down? Loans with 5 percent down or less are available -- in fact, loans from major lenders with no money down have appeared in recent years.
• If you place less than 20 percent down, lenders will want the mortgage guaranteed by an outside third party such as the Veterans Administration (VA), the Federal Housing Administration (FHA) or a private mortgage insurer (PMI, or private mortgage insurance, is required by lender to protect against any mortgage defaults). Millions of VA, FHA and PMI loans are generated each year.
• How's your credit? The best rates and terms are only available to those with solid credit. To get the best loans, make a point of paying credit cards, installment payments, rent and mortgage bills in full and on time.
• Are you a first-time buyer? It might seem that "first-time buyer" means someone who has never owned property before, but under most state programs, the term refers to those who have not owned property within the past three years. State-backed first-timer programs often feature smaller downpayments and below-market interest rates. For details, speak with your local REALTOR®.
How do you get a loan?
To obtain a loan you must complete a written loan application and provide supporting documentation. Specific documents include recent pay stubs, rental checks and tax returns for the past two or three years if you are self-employed. During the prequalification procedure, the loan officer will describe the type of paperwork required.
Where do you get a loan?
Mortgage financing can be obtained from mortgage bankers, mortgage brokers, savings and loan associations, mutual savings banks, commercial banks, credit unions, and insurance companies. A growing number of REALTORS® can also arrange financing.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Friday, September 24, 2010
Step #5 to Buying a Home…Choose a Home
Regardless of your choice, it's important to target your search. By using basic measures such as general location and affordability, you can refine your search and focus on homes that offer the most desirable features.
As a guide, you should maintain a file with information on each of the homes you like. You can print out listing pages from REALTOR.com® and then make notes for each one -- what you like, questions, REALTOR® contact data, etc.
There's no doubt that choosing a home is a big decision and you want to do it right.
As a buyer, here's what actually happens. A home has been placed on the market for which the seller has established an asking price as well as other terms. In effect, this is an offer. At this point, you have three choices: accept the seller's offer and create a contract; reject it and not make an offer; or suggest different terms and make a counter-offer. If you choose this last option, the seller may accept, reject or make a counter-offer.
No aspect of the home buying process is more complex, personal or variable than bargaining between buyers and sellers. This is the point where the value of an experienced REALTOR® is clearly evident because he or she knows the community, has seen numerous homes for sale, knows local values and has spent years negotiating realty transactions.
Is it THE house?
A house is shelter, but a home is far more. It's where you live, relax, entertain friends, raise families, and work. A home is where you spend much of your life, and so choosing a house is an enormous decision.
How do you know if a house is THE one? Probably the best approach is to look at as many homes as possible, something made easy by Realtor.com, where you can quickly and easily view huge numbers of homes, check prices, take video tours and view extensive neighborhood information. Once your choices have been narrowed, you can then contact a local REALTOR® to find specific information and options.
Can you really afford it?
Remember Step 2 - the pre-approval process? Getting pre-approved means you have a very good idea of how much you can borrow, what loan programs will most likely work best in your situation and how much home you can afford.
How reliable is a pre-approval? While pre-approval is not a loan commitment, it's still necessary for lenders to check such items as appraisals and the latest credit reports. Despite fluctuating interest rates, pre-approval nonetheless provides a reasoned, careful analysis of what you can afford. After all, loan officers are routinely paid only when loans are originated. It doesn't make much sense for loan officers to suggest high loan limits that later can't be delivered.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
As a guide, you should maintain a file with information on each of the homes you like. You can print out listing pages from REALTOR.com® and then make notes for each one -- what you like, questions, REALTOR® contact data, etc.
There's no doubt that choosing a home is a big decision and you want to do it right.
As a buyer, here's what actually happens. A home has been placed on the market for which the seller has established an asking price as well as other terms. In effect, this is an offer. At this point, you have three choices: accept the seller's offer and create a contract; reject it and not make an offer; or suggest different terms and make a counter-offer. If you choose this last option, the seller may accept, reject or make a counter-offer.
No aspect of the home buying process is more complex, personal or variable than bargaining between buyers and sellers. This is the point where the value of an experienced REALTOR® is clearly evident because he or she knows the community, has seen numerous homes for sale, knows local values and has spent years negotiating realty transactions.
Is it THE house?
A house is shelter, but a home is far more. It's where you live, relax, entertain friends, raise families, and work. A home is where you spend much of your life, and so choosing a house is an enormous decision.
How do you know if a house is THE one? Probably the best approach is to look at as many homes as possible, something made easy by Realtor.com, where you can quickly and easily view huge numbers of homes, check prices, take video tours and view extensive neighborhood information. Once your choices have been narrowed, you can then contact a local REALTOR® to find specific information and options.
Can you really afford it?
Remember Step 2 - the pre-approval process? Getting pre-approved means you have a very good idea of how much you can borrow, what loan programs will most likely work best in your situation and how much home you can afford.
How reliable is a pre-approval? While pre-approval is not a loan commitment, it's still necessary for lenders to check such items as appraisals and the latest credit reports. Despite fluctuating interest rates, pre-approval nonetheless provides a reasoned, careful analysis of what you can afford. After all, loan officers are routinely paid only when loans are originated. It doesn't make much sense for loan officers to suggest high loan limits that later can't be delivered.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Thursday, September 23, 2010
Step #4 to Buying a Home…Looking at Houses
Millions of new and existing homes are sold each year. There's no shortage of housing options, but with so many choices the challenge becomes finding the property which best meets your needs.
The housing market is complicated because the stock of homes for sale is always in flux. If it were possible to have a complete list of every home for sale at this very moment in a given community, such a list would become obsolete within seconds as new homes become available and properties now for sale are put under contract.
In effect, buyers are looking at a moving target in a marketplace that is never static. Because of this, it is important to know as much as possible about the choices in preferred markets, and the way to do that is by working closely with a local REALTOR® who has a good lay of the land.
What are you looking for?
A home is more than just a collection of bedrooms and bathrooms. Several properties -- each with four bedrooms, three baths, and the same price -- may well represent radically different designs, commuting distances, lot sizes, tax costs, interior dimensions, and exterior finishes.
Each of us is different and so it's important to list the features and benefits you want in a home. Consider such things as pricing, location, size, amenities (extras such as a pool or extra-large kitchen) and design (one floor or two, colonial or modern, etc.).
Next, it's important to consider your priorities. If you can't get a home at your price with all the features you want, then what features are most important? For instance, would you trade fewer bedrooms for a larger kitchen? A longer commute for a bigger lot and lower cost?
Lastly, consider your needs in several years. If you'll need a larger home, maybe now is the time to buy a bigger house rather than moving or expanding in the future. If you expect your income to increase, perhaps you should consider a more expensive home financed with a loan program where monthly payments increase in the future.
Where should you look?
All neighborhoods and communities have a special nature that gives them identity and value. One community may be well known for historic homes while another offers both suburban living as well as easy access to downtown office areas.
REALTOR.com® offers millions of homes online. By any standard, it's the largest source for property information, online or off. You can look at homes to contact listing brokers, and you can also search Realtor.com® to find brokers who offer buyer representation services.
How do you find a house?
Some buyers like to search REALTOR.com® by looking at listings on the basis of location or price; others prefer to have local REALTORS® suggest properties; and many buyers prefer both approaches.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
The housing market is complicated because the stock of homes for sale is always in flux. If it were possible to have a complete list of every home for sale at this very moment in a given community, such a list would become obsolete within seconds as new homes become available and properties now for sale are put under contract.
In effect, buyers are looking at a moving target in a marketplace that is never static. Because of this, it is important to know as much as possible about the choices in preferred markets, and the way to do that is by working closely with a local REALTOR® who has a good lay of the land.
What are you looking for?
A home is more than just a collection of bedrooms and bathrooms. Several properties -- each with four bedrooms, three baths, and the same price -- may well represent radically different designs, commuting distances, lot sizes, tax costs, interior dimensions, and exterior finishes.
Each of us is different and so it's important to list the features and benefits you want in a home. Consider such things as pricing, location, size, amenities (extras such as a pool or extra-large kitchen) and design (one floor or two, colonial or modern, etc.).
Next, it's important to consider your priorities. If you can't get a home at your price with all the features you want, then what features are most important? For instance, would you trade fewer bedrooms for a larger kitchen? A longer commute for a bigger lot and lower cost?
Lastly, consider your needs in several years. If you'll need a larger home, maybe now is the time to buy a bigger house rather than moving or expanding in the future. If you expect your income to increase, perhaps you should consider a more expensive home financed with a loan program where monthly payments increase in the future.
Where should you look?
All neighborhoods and communities have a special nature that gives them identity and value. One community may be well known for historic homes while another offers both suburban living as well as easy access to downtown office areas.
REALTOR.com® offers millions of homes online. By any standard, it's the largest source for property information, online or off. You can look at homes to contact listing brokers, and you can also search Realtor.com® to find brokers who offer buyer representation services.
How do you find a house?
Some buyers like to search REALTOR.com® by looking at listings on the basis of location or price; others prefer to have local REALTORS® suggest properties; and many buyers prefer both approaches.
Read All 10 Steps for First Time Homebuyers:
http://www.jimblalockandassociates.com/howtogetstarted.html
Wednesday, September 22, 2010
Step #3 to Buying a Home…Loan Pre-Approval
Few people can buy a home for cash. According to the National Association of REALTORS® (NAR), nearly nine out of 10 buyers finance their purchase, which means that virtually all buyers -- especially first-time purchasers -- required a loan.
The real issue with real estate financing is not getting a loan (virtually anyone willing to pay lofty interest rates can find a mortgage). Instead, the idea is to get the loan that's right for you -- the mortgage with the lowest cost and best terms.
REALTORS® routinely suggest that consumers start the mortgage process well before bidding on a home. Many lenders (the sources of money) and programs, for example, are available right here in the finance section of Realtor.com as well as through recommendations from local REALTORS®. By meeting with lenders -- either online or face to face -- and looking at loan options, you will find which programs best meet your needs and how much you can afford.
REALTORS® also recommend pre approvals for another reason: Purchase forms often require buyers to apply for financing within a given time period, in many cases, seven to 10 days. By meeting with loan officers in advance and identifying mortgage programs, it won't be necessary to quickly find a lender, check credit, and rush into a financing decision that may not be the best option.
What is it?
"Pre-approval" means you have met with a loan officer, your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount with one or more specific mortgage programs. Based on this information, the lender will provide a pre approval letter, which shows your borrowing power. You can visit as many lenders as you like and get several pre-approvals, but keep in mind that each one carries with it a new credit check, which will show up on future credit reports.
Although not a final loan commitment, the pre approval letter can be shown to listing brokers when bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. This information is important to owners since they do not want to accept an offer that is likely to fail because financing cannot be obtained.
How do you get pre-approval?
Real estate financing is available from numerous sources, including lenders here in the finance section of Realtor.com, mortgage companies that have worked with local REALTORS® and in some cases, individual REALTORS® themselves. Based on his or her experience, the REALTOR® may suggest one or more lenders with a history of offering competitive programs and delivering promised rates and terms.
The loan officer will carefully review your financial situation, including your credit report and other information. The lender will then suggest programs which most-closely meet your needs. For instance, a first-time buyer may qualify for state-backed mortgage programs with little money down and low interest rates, while a repeat purchaser (someone who has bought a home before) with more equity (money invested in the home) might want to get a 15-year loan and the lower overall interest costs it represents. Typically, first-time buyers opt for the traditional 30-year loan, with either a floating interest rate or a fixed rate of interest over the life of the loan.
Read All 10 Steps for First Time Homebuyers: http://www.jimblalockandassociates.com/howtogetstarted.html
The real issue with real estate financing is not getting a loan (virtually anyone willing to pay lofty interest rates can find a mortgage). Instead, the idea is to get the loan that's right for you -- the mortgage with the lowest cost and best terms.
REALTORS® routinely suggest that consumers start the mortgage process well before bidding on a home. Many lenders (the sources of money) and programs, for example, are available right here in the finance section of Realtor.com as well as through recommendations from local REALTORS®. By meeting with lenders -- either online or face to face -- and looking at loan options, you will find which programs best meet your needs and how much you can afford.
REALTORS® also recommend pre approvals for another reason: Purchase forms often require buyers to apply for financing within a given time period, in many cases, seven to 10 days. By meeting with loan officers in advance and identifying mortgage programs, it won't be necessary to quickly find a lender, check credit, and rush into a financing decision that may not be the best option.
What is it?
"Pre-approval" means you have met with a loan officer, your credit files have been reviewed and the loan officer believes you can readily qualify for a given loan amount with one or more specific mortgage programs. Based on this information, the lender will provide a pre approval letter, which shows your borrowing power. You can visit as many lenders as you like and get several pre-approvals, but keep in mind that each one carries with it a new credit check, which will show up on future credit reports.
Although not a final loan commitment, the pre approval letter can be shown to listing brokers when bidding on a home. It demonstrates your financial strength and shows that you have the ability to go through with a purchase. This information is important to owners since they do not want to accept an offer that is likely to fail because financing cannot be obtained.
How do you get pre-approval?
Real estate financing is available from numerous sources, including lenders here in the finance section of Realtor.com, mortgage companies that have worked with local REALTORS® and in some cases, individual REALTORS® themselves. Based on his or her experience, the REALTOR® may suggest one or more lenders with a history of offering competitive programs and delivering promised rates and terms.
The loan officer will carefully review your financial situation, including your credit report and other information. The lender will then suggest programs which most-closely meet your needs. For instance, a first-time buyer may qualify for state-backed mortgage programs with little money down and low interest rates, while a repeat purchaser (someone who has bought a home before) with more equity (money invested in the home) might want to get a 15-year loan and the lower overall interest costs it represents. Typically, first-time buyers opt for the traditional 30-year loan, with either a floating interest rate or a fixed rate of interest over the life of the loan.
Read All 10 Steps for First Time Homebuyers: http://www.jimblalockandassociates.com/howtogetstarted.html
Step #2 to Buying a Home…Find a Realtor
More than 2 million people in the United States have earned real estate licenses. However, real estate is a tough business with a steep dropout rate, and the result is that only a small percentage of those with licenses actively help buyers and sellers.
The National Association of REALTORS® (NAR) includes 1 million brokers and salespeople, individuals bound together with a strong Code of Ethics, extensive training opportunities and a wealth of community information. NAR members are routinely active in PTAs, local government committees and a variety of neighborhood organizations. Being actively involved in community affairs provides REALTORS® with a better understanding of the area in which they are selling.
Why?
Buying and selling real estate is a complex matter. At first it might seem that by checking local picture books or online sites you could quickly find the right home at the right price.
But a basic rule in real estate is that all properties are unique. No two properties -- even two identical models on the same street -- are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.
In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local REALTORS® who serve your area.
How do you choose?
In every community you're likely to find a number of realty brokerages. Because there is heated competition, local REALTORS® must fight hard to succeed in your community.
The best place to find a local REALTOR® is from REALTOR.com's® extensive listing of community professionals and properties. Other sources include open houses, local advertising, Web sites, referrals from other REALTORS®, recommendations from neighbors and suggestions from lenders, attorneys, financial planners and CPAs. The experiences and recommendations of past clients can be invaluable.
In many cases buyers will interview several REALTORS® before selecting one professional with whom to work. These interviews represent a good opportunity to consider such issues as training, experience, representation and professional certifications.
What should you expect when you work with a REALTOR®?
Once you select a REALTOR® you will want to establish a proper business relationship. You likely know that some REALTORS® represent sellers while others represent buyers. Each REALTOR® will explain the options available, describe how he or she typically works with individuals and provide you with complete agency disclosures (the ins and outs of your relationship with the agent) as required in your state.
Once hired for the job, the REALTOR® will provide you with information detailing current market conditions, financing options and negotiating issues that might apply to a given situation. Remember: Because market conditions can change and the strategies that apply in one negotiation may be inappropriate in another, this information should not be set in stone. During your time in the marketplace REALTORS® will keep you updated and alert you to each step in the transaction process.
Read All 10 Steps for First Time Homebuyers: http://www.jimblalockandassociates.com/howtogetstarted.html
The National Association of REALTORS® (NAR) includes 1 million brokers and salespeople, individuals bound together with a strong Code of Ethics, extensive training opportunities and a wealth of community information. NAR members are routinely active in PTAs, local government committees and a variety of neighborhood organizations. Being actively involved in community affairs provides REALTORS® with a better understanding of the area in which they are selling.
Why?
Buying and selling real estate is a complex matter. At first it might seem that by checking local picture books or online sites you could quickly find the right home at the right price.
But a basic rule in real estate is that all properties are unique. No two properties -- even two identical models on the same street -- are precisely and exactly alike. Homes differ and so do contract terms, financing options, inspection requirements and closing costs. Also, no two transactions are alike.
In this maze of forms, financing, inspections, marketing, pricing and negotiating, it makes sense to work with professionals who know the community and much more. Those professionals are the local REALTORS® who serve your area.
How do you choose?
In every community you're likely to find a number of realty brokerages. Because there is heated competition, local REALTORS® must fight hard to succeed in your community.
The best place to find a local REALTOR® is from REALTOR.com's® extensive listing of community professionals and properties. Other sources include open houses, local advertising, Web sites, referrals from other REALTORS®, recommendations from neighbors and suggestions from lenders, attorneys, financial planners and CPAs. The experiences and recommendations of past clients can be invaluable.
In many cases buyers will interview several REALTORS® before selecting one professional with whom to work. These interviews represent a good opportunity to consider such issues as training, experience, representation and professional certifications.
What should you expect when you work with a REALTOR®?
Once you select a REALTOR® you will want to establish a proper business relationship. You likely know that some REALTORS® represent sellers while others represent buyers. Each REALTOR® will explain the options available, describe how he or she typically works with individuals and provide you with complete agency disclosures (the ins and outs of your relationship with the agent) as required in your state.
Once hired for the job, the REALTOR® will provide you with information detailing current market conditions, financing options and negotiating issues that might apply to a given situation. Remember: Because market conditions can change and the strategies that apply in one negotiation may be inappropriate in another, this information should not be set in stone. During your time in the marketplace REALTORS® will keep you updated and alert you to each step in the transaction process.
Read All 10 Steps for First Time Homebuyers: http://www.jimblalockandassociates.com/howtogetstarted.html
Friday, September 17, 2010
Step #1 to Buying a Home...Are you Ready?
Step #1 to Buying a Home…Are you Ready?
One of the keys to making the home-buying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process.
Do You Know What You Want?
Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing timeframe?
Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when meeting with local REALTORS®.
Do You Have The Money?
Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the down payment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved which require a 5 percent down payment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down.
In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.
Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front.
As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses. Speak with local REALTORS® for details.
Is Your Financial House in Order?
Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.
See the top 10 home buying tips: http://www.realtor.com/home-finance/buyers-basics/home-buyers-basics.aspx
One of the keys to making the home-buying process easier and more understandable is planning. In doing so, you'll be able to anticipate requests from lenders, lawyers and a host of other professionals. Furthermore, planning will help you discover valuable shortcuts in the home-buying process.
Do You Know What You Want?
Whether you are a first-time home buyer or entering the marketplace as a repeat buyer, you need to ask why you want to buy. Are you planning to move to a new community due to a lifestyle change or is buying an option and not a requirement? What would you like in terms of real estate that you do not now have? Do you have a purchasing timeframe?
Whatever your answers, the more you know about the real estate marketplace, the more likely you are to effectively define your goals. As an interesting exercise, it can be worthwhile to look at the questions above and to then discuss them in detail when meeting with local REALTORS®.
Do You Have The Money?
Homes and financing are closely intertwined. (Financing is the difference between the purchase price and the down payment, commonly referred to as debt or the mortgage.) The good news is that over the years new and innovative loan programs have evolved which require a 5 percent down payment or less. In fact, a number of programs now allow purchasers to buy real estate with nothing down.
In addition to a down payment, purchasers also need cash for closing costs (the final costs associated with closing the loan). Several newly emerging loan programs not only allow the purchase of a home with no money down, but also underwrite closing costs.
Not everyone, however, elects to purchase with little or no money down. Less money down means higher monthly mortgage payments, so most home buyers choose to buy with some cash up front.
As to closing costs, in markets where buyers have leverage, it may be possible to negotiate an offer for a home that requires the owner to pay some or all of your settlement expenses. Speak with local REALTORS® for details.
Is Your Financial House in Order?
Those great loans with little or nothing down are not available to everyone: You need good credit. For at least one year prior to purchasing a home, you should assure that every credit card bill, rent check, car payment and other debt is paid in full and on time.
See the top 10 home buying tips: http://www.realtor.com/home-finance/buyers-basics/home-buyers-basics.aspx
Monday, September 13, 2010
Homeowners Assistance Program for Relocating Military Homeowners
Relocating military homeowners can apply for the Homeowner's Assistance Program following reassignment ordered between Feb. 1, 2006 and Sept. 30, 2010. The Homeowners Assistance Program aids those who have sold their home for a loss or individuals who are "upside-down" on their mortgage.
Read the full article at ArmyTimes with the link provided: www.armytimes.com/money/financial_advice/offduty-consumerwatch-090710w/
Read the full article at ArmyTimes with the link provided: www.armytimes.com/money/financial_advice/offduty-consumerwatch-090710w/
Wednesday, September 1, 2010
3rd Brigade Troops Return Home
Welcome Home Troops of the 3rd Brigade!
About 200 soldiers from the 3rd Brigade, 3rd Infantry arrived back from their 10 month tour in Iraq, bringing the total number of soldiers back from duty to 600. The main portion of the 3rd Brigade, (about 3,000 troops), are expected to return in September.
Thank you to our troops for their ongoing service.
- Info provided by:
http://www.ledger-enquirer.com/
About 200 soldiers from the 3rd Brigade, 3rd Infantry arrived back from their 10 month tour in Iraq, bringing the total number of soldiers back from duty to 600. The main portion of the 3rd Brigade, (about 3,000 troops), are expected to return in September.
Thank you to our troops for their ongoing service.
- Info provided by:
http://www.ledger-enquirer.com/
Monday, July 26, 2010
Tuesday, July 20, 2010
Ten Reasons You Should Consider Buying A Home Sooner Than Later!
If you're like most first-time home buyers, you've probably listened to friends', family's and coworkers' advice, many of whom are encouraging you to buy a home. However, you may still wonder if buying a home is the right thing to do. Relax. Having reservations is normal. The more you know about why you should buy a home, the less scary the entire process will appear to you. Here are some reasons you should consider buying a home sooner than later.
Favorable Interest Rates
One of the greatest and most obvious reasons to consider buying a home is the interest rates. Interest rates today, are some of the lowest rates that we have seen in years. It is possible that they will go even lower. You may think that getting a home loan in order to take advantage of these rates is impossible. Although credit standards and loan approval may be higher than before, obtaining a loan is well within the reach of homebuyers with a good credit rating and a steady income that can support the monthly mortgage payments.
Tax Benefits
The second best reason to buy a home is the tax savings. For most workers buying a home may not only allow them to deduct the mortgage interests, it also gives them the ability to itemize their deductions, which they may not have been able to do previously. Once you have lived in your home for two years, you are able to exclude an amount of profit from your capital gains. In addition, you are able to take advantage of this exclusion every two years, even if you decided to sell the home after you have lived there for at least two years.
Appreciation
Unlike cars, houses appreciate over time. Therefore, your house will more than likely be worth more in a few years than you paid for it. Some people take full advantage of the appreciation factor and sell their homes for a profit.
Plenty to Choose From
However, another great reason to buy a house now is the selection. Unfortunately, due to rising foreclosure, there are numerous houses on the market in every state. Regardless of your tastes or preferences, you should be able to find just what you are looking for.
Acquire Equity
Houses are also good sources for future credit and or financing. Homeowners are able to turn the equity that they have in their home into a loan or line of credit through refinancing. This benefit has proven to be important, in a down economy or in situations where medical bills are unmanageable, home repairs or improvements are needed, or kids need funds for college.
Personal Reasons
However, it may be a larger factor for some more than others there are personal and family related reasons for buying a home. The family reasons are usually the most obvious and typically include the need for additional space due to a growing family or relocation for a job or business opportunity. Yet, personal reasons are not always considered. For many, the desire to be able to customize a living space without asking for permission is strong and often a great motivator for young adults to buy their first home. Others grow tired of the noise, neighbors, and cramped quarters of apartments and/or dorm life.
Owning your Home
One of the more traditional reasons for buying a home is that you are purchasing property that you can actually own rather than paying for the use of someone else's property. As we start to get older, the desire to have a place to settle down and retire in becomes more pressing. If you buy a home, you own property that you can not only retire into; but also, pass on to your children.
Asset Ownership
The idea of owning property that can be passed down is the reason many people work and save, which leads us to the next reason to buy a home. There is a pride and peace of mind that comes with owning a house. This is the ability to see why you go to work day in and day out, work two or jobs, or work two or more shifts. This sense of accomplishment cannot be duplicated when renting.
Becoming Part of a Community
If you are searching for a strong sense of community, than you need to consider buying a home. When you own a home in a good neighborhood, you take the time to meet and get to know your neighbors. In addition, you are more likely to become involved in neighborhood activities and community programs.
Flexibility
If you have entertained the idea of starting your own home based business, you may find that it is much easier to convert an extra room in your home into a home office than it is in a rental or apartment setting. You may be able to have a designated entrance for clients, as well as space for a small waiting area. However, depending on the type of business you are considering more elaborate modifications may be required. For example, you may need to bring a restroom up to ADA standard or install an additional sink.
Favorable Interest Rates
One of the greatest and most obvious reasons to consider buying a home is the interest rates. Interest rates today, are some of the lowest rates that we have seen in years. It is possible that they will go even lower. You may think that getting a home loan in order to take advantage of these rates is impossible. Although credit standards and loan approval may be higher than before, obtaining a loan is well within the reach of homebuyers with a good credit rating and a steady income that can support the monthly mortgage payments.
Tax Benefits
The second best reason to buy a home is the tax savings. For most workers buying a home may not only allow them to deduct the mortgage interests, it also gives them the ability to itemize their deductions, which they may not have been able to do previously. Once you have lived in your home for two years, you are able to exclude an amount of profit from your capital gains. In addition, you are able to take advantage of this exclusion every two years, even if you decided to sell the home after you have lived there for at least two years.
Appreciation
Unlike cars, houses appreciate over time. Therefore, your house will more than likely be worth more in a few years than you paid for it. Some people take full advantage of the appreciation factor and sell their homes for a profit.
Plenty to Choose From
However, another great reason to buy a house now is the selection. Unfortunately, due to rising foreclosure, there are numerous houses on the market in every state. Regardless of your tastes or preferences, you should be able to find just what you are looking for.
Acquire Equity
Houses are also good sources for future credit and or financing. Homeowners are able to turn the equity that they have in their home into a loan or line of credit through refinancing. This benefit has proven to be important, in a down economy or in situations where medical bills are unmanageable, home repairs or improvements are needed, or kids need funds for college.
Personal Reasons
However, it may be a larger factor for some more than others there are personal and family related reasons for buying a home. The family reasons are usually the most obvious and typically include the need for additional space due to a growing family or relocation for a job or business opportunity. Yet, personal reasons are not always considered. For many, the desire to be able to customize a living space without asking for permission is strong and often a great motivator for young adults to buy their first home. Others grow tired of the noise, neighbors, and cramped quarters of apartments and/or dorm life.
Owning your Home
One of the more traditional reasons for buying a home is that you are purchasing property that you can actually own rather than paying for the use of someone else's property. As we start to get older, the desire to have a place to settle down and retire in becomes more pressing. If you buy a home, you own property that you can not only retire into; but also, pass on to your children.
Asset Ownership
The idea of owning property that can be passed down is the reason many people work and save, which leads us to the next reason to buy a home. There is a pride and peace of mind that comes with owning a house. This is the ability to see why you go to work day in and day out, work two or jobs, or work two or more shifts. This sense of accomplishment cannot be duplicated when renting.
Becoming Part of a Community
If you are searching for a strong sense of community, than you need to consider buying a home. When you own a home in a good neighborhood, you take the time to meet and get to know your neighbors. In addition, you are more likely to become involved in neighborhood activities and community programs.
Flexibility
If you have entertained the idea of starting your own home based business, you may find that it is much easier to convert an extra room in your home into a home office than it is in a rental or apartment setting. You may be able to have a designated entrance for clients, as well as space for a small waiting area. However, depending on the type of business you are considering more elaborate modifications may be required. For example, you may need to bring a restroom up to ADA standard or install an additional sink.
Friday, July 16, 2010
Get in the Groove: Use These Tips For a Smooth Move
For many families, moving can be a very stressful event. Besides coming to terms with your new life in a new home, you and your family will also need to think about moving day. Too often, families get caught up in various activities before moving day and fail to make the proper preparations. If you and your family are preparing to move, try to stay calm and organized throughout the process. For a few extra pointers on how to make your moving day a success, consider the simple advice outlined here.
Make a detailed checklist
It can be difficult to keep track of all the tasks associated with moving. Hence, you should try to organize your days leading up to and beyond moving day. If you have a reminder of what needs to be done and where you need to be, you are more likely to have a smooth moving day.
Prepare for day 1
Prior to packing all of your boxes, you may want to assemble one box of necessities for the whole family. As most families finish unpacking their trucks late in the evening, there is often little desire to open several boxes to find pillows and toothbrushes. To prevent a stressful first night in your new home, try to place anything your family might need in the first 24 hours in a separate box, mark it clearly and keep it accessible during moving. Also, if you have any valuable or irreplaceable items – such as jewelry and personal keepsakes – you should try to wrap the items well and keep them with you while moving.
To help with your checklist, you should try to include all of the following items in your Day 1 box:
• Personal toiletries
• Soap
• Toilet paper
• Snacks and drinks
• Flashlight
• Screwdriver
• Pliers
• Set of plastic plates and cutlery
• Paper towels or tissue
Pack manageable boxes
Unless you have lots of large, lightweight items – such as down comforters and blankets – you shouldn’t need too many oversized boxes. Oversized moving materials often force homeowners into packing boxes that are too heavy and unmanageable. Instead, try to find plenty of midsized boxes and distribute weight evenly. Furthermore, if you are moving yourself, make sure you have all the necessary materials on hand before packing, including bubble wrap or packing peanuts for fragile items.
Label every box
When packing your boxes, try not to place items for different rooms in the same box. After sealing up each box, simply mark which room the items belong in. When you arrive at your new home, you will be able to take each box to its rightful place and each family member can spend time organizing their own space.
De-clutter as you go
As you prepare to move out of your home, try to organize your belongings and set aside unwanted items. After unpacking in your new home, you will be happy having more space and fewer items to arrange. Before moving out, you can hold a yard sale or make a charitable donation to get rid of your unwanted belongings.
Get the family involved
If you have children, help them get excited about moving. With something to look forward to – like the chance to decorate a new bedroom – children often get more involved in the moving process. Also, you may want to ask your friends and family for help on moving day. Even if no one is able to move furniture with you, a family member could watch your pet for the day or take care of errands.
Though moving day can be a very overwhelming time for families, proper organization can make help turn that stress into excitement. If you follow your timeline leading up to moving day, you and your family will have no problem approaching the big move with confidence!
Make a detailed checklist
It can be difficult to keep track of all the tasks associated with moving. Hence, you should try to organize your days leading up to and beyond moving day. If you have a reminder of what needs to be done and where you need to be, you are more likely to have a smooth moving day.
Prepare for day 1
Prior to packing all of your boxes, you may want to assemble one box of necessities for the whole family. As most families finish unpacking their trucks late in the evening, there is often little desire to open several boxes to find pillows and toothbrushes. To prevent a stressful first night in your new home, try to place anything your family might need in the first 24 hours in a separate box, mark it clearly and keep it accessible during moving. Also, if you have any valuable or irreplaceable items – such as jewelry and personal keepsakes – you should try to wrap the items well and keep them with you while moving.
To help with your checklist, you should try to include all of the following items in your Day 1 box:
• Personal toiletries
• Soap
• Toilet paper
• Snacks and drinks
• Flashlight
• Screwdriver
• Pliers
• Set of plastic plates and cutlery
• Paper towels or tissue
Pack manageable boxes
Unless you have lots of large, lightweight items – such as down comforters and blankets – you shouldn’t need too many oversized boxes. Oversized moving materials often force homeowners into packing boxes that are too heavy and unmanageable. Instead, try to find plenty of midsized boxes and distribute weight evenly. Furthermore, if you are moving yourself, make sure you have all the necessary materials on hand before packing, including bubble wrap or packing peanuts for fragile items.
Label every box
When packing your boxes, try not to place items for different rooms in the same box. After sealing up each box, simply mark which room the items belong in. When you arrive at your new home, you will be able to take each box to its rightful place and each family member can spend time organizing their own space.
De-clutter as you go
As you prepare to move out of your home, try to organize your belongings and set aside unwanted items. After unpacking in your new home, you will be happy having more space and fewer items to arrange. Before moving out, you can hold a yard sale or make a charitable donation to get rid of your unwanted belongings.
Get the family involved
If you have children, help them get excited about moving. With something to look forward to – like the chance to decorate a new bedroom – children often get more involved in the moving process. Also, you may want to ask your friends and family for help on moving day. Even if no one is able to move furniture with you, a family member could watch your pet for the day or take care of errands.
Though moving day can be a very overwhelming time for families, proper organization can make help turn that stress into excitement. If you follow your timeline leading up to moving day, you and your family will have no problem approaching the big move with confidence!
Thursday, July 15, 2010
Tips for Finding the Right Home for Your Family
When beginning the process of finding a new home, it is often difficult to know where to begin. Before researching the market or analyzing housing options, home buyers may want to start by prioritizing their family’s needs, determining what are “need-to-haves” and what are “nice-to-haves.” Below are some factors you may want to consider when trying to find the right home for your family.
When you begin searching for the right home for your family, you may first want to determine what would be the best location. One of the best ways to find a home location that suits your family is to assess your needs and determine how much your family can compromise. For instance, do you have small children or pets that require a large backyard to play in? Or would you be equally happy taking your kids and dog to the local park? Do you need quiet surroundings, like a dead-end street, or do you prefer the hustle and bustle of metropolitan areas? These are the types of general assessments which may help you determine an ideal location for your family.
Though it may be easy to determine what type of environment your family wants to reside in, you will want to spend more time analyzing the details of the neighborhoods you are considering. As you try to determine which neighborhoods are best for your family, you may want to take into account such factors as the quality of nearby schools and the proximity to shopping or your workplace. After seeing what different neighborhoods have to offer, compare the pros and cons of each area you are considering to determine the best location for your family.
After you have a chance to look at a few homes and research various neighborhoods, try to visualize the best home for your family. Though you have probably already thought about how many bedrooms and bathrooms your family needs, consider keeping a list of desired amenities – both essential and those that you could live without – as you continue the home buying process. You may also want to consider what type of home construction your family needs, from a standard single-family home to a condominium or even a multi-family home. Upon viewing particular homes, you may realize that your family needs a certain amount of storage space or more overall square footage than you realized. Add and subtract from this list as you look at more homes, always keeping track of where your family can compromise.
For instance, if you find a home that meets all of your family’s needs but has a smaller than desired garage, you could still be faced with an opportunity that is too good to pass up. Furthermore, you might find the perfect home in a neighborhood you never thought to consider, or in a specific type of construction that was initially ruled out of your search. Quite simply, try not to limit your family’s options too much and remain open-minded throughout the home buying process. You might even find a great home with special features you never thought your family could afford – like a pool, a spa or an extra fireplace.
When trying to find the best home for your family, try to stay organized and keep your priorities straight. As you look at different homes, try to consider how each property fits your family’s needs. After finding some homes that meet your family’s needs, you may then want to focus on each home’s desirable extras to help narrow down your search. By making such lists and assessing your family’s needs throughout the home buying process, you might be surprised how quickly you uncover the home of your dreams.
When you begin searching for the right home for your family, you may first want to determine what would be the best location. One of the best ways to find a home location that suits your family is to assess your needs and determine how much your family can compromise. For instance, do you have small children or pets that require a large backyard to play in? Or would you be equally happy taking your kids and dog to the local park? Do you need quiet surroundings, like a dead-end street, or do you prefer the hustle and bustle of metropolitan areas? These are the types of general assessments which may help you determine an ideal location for your family.
Though it may be easy to determine what type of environment your family wants to reside in, you will want to spend more time analyzing the details of the neighborhoods you are considering. As you try to determine which neighborhoods are best for your family, you may want to take into account such factors as the quality of nearby schools and the proximity to shopping or your workplace. After seeing what different neighborhoods have to offer, compare the pros and cons of each area you are considering to determine the best location for your family.
After you have a chance to look at a few homes and research various neighborhoods, try to visualize the best home for your family. Though you have probably already thought about how many bedrooms and bathrooms your family needs, consider keeping a list of desired amenities – both essential and those that you could live without – as you continue the home buying process. You may also want to consider what type of home construction your family needs, from a standard single-family home to a condominium or even a multi-family home. Upon viewing particular homes, you may realize that your family needs a certain amount of storage space or more overall square footage than you realized. Add and subtract from this list as you look at more homes, always keeping track of where your family can compromise.
For instance, if you find a home that meets all of your family’s needs but has a smaller than desired garage, you could still be faced with an opportunity that is too good to pass up. Furthermore, you might find the perfect home in a neighborhood you never thought to consider, or in a specific type of construction that was initially ruled out of your search. Quite simply, try not to limit your family’s options too much and remain open-minded throughout the home buying process. You might even find a great home with special features you never thought your family could afford – like a pool, a spa or an extra fireplace.
When trying to find the best home for your family, try to stay organized and keep your priorities straight. As you look at different homes, try to consider how each property fits your family’s needs. After finding some homes that meet your family’s needs, you may then want to focus on each home’s desirable extras to help narrow down your search. By making such lists and assessing your family’s needs throughout the home buying process, you might be surprised how quickly you uncover the home of your dreams.
Friday, July 2, 2010
What Makes a Craftsman Style Home?
Arts and Crafts, or Craftsman, houses have many of these features:
•Wood, stone, or stucco siding
•Low-pitched roof
•Wide eaves with triangular brackets
•Exposed roof rafters
•Porch with thick square or round columns
•Stone porch supports
•Exterior chimney made with stone
•Open floor plans; few hallways
•Numerous windows
•Some windows with stained or leaded glass
•Beamed ceilings
•Dark wood wainscoting and moldings
•Built-in cabinets, shelves, and seating
Arts and Crafts History:
During the 1880s, John Ruskin, William Morris, Philip Webb, and other English designers and thinkers launched the Arts and Crafts Movement, which celebrated handicrafts and encouraged the use of simple forms and natural materials. In the United States, two California brothers, Charles Sumner Greene and Henry Mather Green, began to design houses that combined Arts and Crafts ideas with a fascination for the simple wooden architecture of China and Japan.
The name "Craftsman" comes from the title of a popular magazine published by the famous furniture designer, Gustav Stickley, between 1901 and 1916. A true Craftsman house is one that is built according to plans published in Stickley's magazine. But other magazines, pattern books, and mail order house catalogs began to publish plans for houses with Craftsman-like details. Soon the word "Craftsman" came to mean any house that expressed Arts and Crafts ideals, most especially the simple, economical, and extremely popular Bungalow.
Check out some new Craftsman Style Homes from Jeff Lindsey Communities, and custom upgrade options at http://www.jefflindseycommunities.com/
Happy House Hunting!
~Blalock & Associates
http://www.jimblalockandassociates.com/
Wednesday, June 30, 2010
Wind Ridge Subdivision in Phenix City now open!!!
Wind Ridge is Jeff Lindsey Communities newest Subdivision in Phenix City!!
Hero's Discount for Active and Retired Military!
www.jimblalockandassociates.com/windridge.html
Happy House Hunting!
~Blalock & Associates
Hero's Discount for Active and Retired Military!
www.jimblalockandassociates.com/windridge.html
Happy House Hunting!
~Blalock & Associates
Thursday, June 17, 2010
Sweetwater Park Virtual Tour!
Jeff Lindsey Communities now has a Virtual Tour of their newest subdivsion outside the back gate of Fort Benning, GA, Sweetwater Park!
Follow the link here: http://www.jefflindseycommunities.com/communities/sweetwater_park/index.html
Happy House Hunting!
~Blalock & Associates
http://www.jimblalockandassociates.com/
Follow the link here: http://www.jefflindseycommunities.com/communities/sweetwater_park/index.html
Happy House Hunting!
~Blalock & Associates
http://www.jimblalockandassociates.com/
Monday, June 7, 2010
Sweetwater Park in Fort Mitchell, AL is a GREAT VALUE
The newest subdivision of local builder Jeff Lindsey Communities is underway! Lots are already being purchased, homes are already being closed, so check it out to get your pick of lot today!!
Great Standard Features like:
- All Brick Exterior
- Stainless Steel/Black Appliances
- Side-by-Side Refrigerator included!
- 2" Faux Wood Blinds on All Windows
- Beautiful Master Suites!
Prices start in the $190s
Happy House Hunting!
~Blalock & Associates
Fort Benning GA Soldiers bring home the Olympic Gold!!
We are so proud of our soldiers here at Fort Benning!
Six Soldiers ranging in rank from PFC to Major competed at in the 2008 Olympics. The competition was tough but 2 from Fort Benning GA brought home the Gold. PFC Hancock and SPC Eller are now wearing Gold. It is awesome to be the best in the world at anything but this is a special honor to represent our country and show the skill, development, and discipline of our military. We are very proud!
ARMY STRONG!!!
~Blalock & Associates
Wednesday, June 2, 2010
Fort Benning Welcome Guide!
Follow this link to the Fort Benning Welcome Guide for incoming Soldiers and their families!
Find helpful information about In-processing, Temporary Housing, Employment, and more!
~Blalock & Associates
Jeff Lindsey Communities at Fort Benning, GA!!!
Check out all the new Jeff Lindsey Communities available around Fort Benning!
Contact Jim Blalock at jim.blalock@coldwellbanker.com with any questions!
Happy House Hunting!
~Blalock & Associates
Wednesday, May 26, 2010
Virtual Tours of Most Popular JLC Floor Plans!
Choosing a new home from a stack of floor plans can definitely be a difficult task. Follow this link to see some great interior footage of completed homes by Jeff Lindsey Communities!
http://jefflindseycommunities.com/virtual_tours/index.html
If you have any questions of the featured videos, or would like to see interior pictures of any other homes offered by http://www.jefflindseycommunities.com/ , please call Jim Blalock at 706-566-8220, email him at jim.blalock@coldwellbanker.com, or simply post a comment on our blog!
You can always visit us at http://www.jimblalockandassociates.com/ for more info :)
Happy House Hunting!
~Blalock & Associates
http://www.jimblalockandassociates.com/
http://jefflindseycommunities.com/virtual_tours/index.html
If you have any questions of the featured videos, or would like to see interior pictures of any other homes offered by http://www.jefflindseycommunities.com/ , please call Jim Blalock at 706-566-8220, email him at jim.blalock@coldwellbanker.com, or simply post a comment on our blog!
You can always visit us at http://www.jimblalockandassociates.com/ for more info :)
Happy House Hunting!
~Blalock & Associates
http://www.jimblalockandassociates.com/
Great Time to Lock an Interest Rate! May-June 2010
From ABC:
Mortgage Rates Are…Dropping? Interest Rates Near 50 Year Low! It seems counter-intuitive. At a time like this, mortgage rates should be increasing. After all, low interest rates on mortgages are part of what put our economy in the state it is currently in.
So why are the mortgage rates dropping? The European economic collapse is actually quite good for the American prospective homebuyer. Since the crisis in Greece has made investors increasingly anxious that Europe won’t be able to pay off their debts, investors are pouring money into the US via treasury bonds.
The treasury bonds are tied to mortgage rates. Since more investors are investing in bonds, the mortgage rates decline.
This means that the American homebuyer has better prospects at an affordable mortgage. With the recent foreclosure boom, those who have at least 20% to put down on a home have more affordable options than ever.
Even though the mortgage rates are dropping and homes are more affordable than ever, that doesn’t mean it’s easy to get a mortgage. There are still hoops to jump through and lenders are looking for only the most creditworthy homebuyers.
However, if you have strong credit, sound financial footing, and are looking for a home – now couldn’t be a better time to buy.
Happy House Hunting!
~Blalock & Associates
http://www.gohomesearching.com/
Mortgage Rates Are…Dropping? Interest Rates Near 50 Year Low! It seems counter-intuitive. At a time like this, mortgage rates should be increasing. After all, low interest rates on mortgages are part of what put our economy in the state it is currently in.
So why are the mortgage rates dropping? The European economic collapse is actually quite good for the American prospective homebuyer. Since the crisis in Greece has made investors increasingly anxious that Europe won’t be able to pay off their debts, investors are pouring money into the US via treasury bonds.
The treasury bonds are tied to mortgage rates. Since more investors are investing in bonds, the mortgage rates decline.
This means that the American homebuyer has better prospects at an affordable mortgage. With the recent foreclosure boom, those who have at least 20% to put down on a home have more affordable options than ever.
Even though the mortgage rates are dropping and homes are more affordable than ever, that doesn’t mean it’s easy to get a mortgage. There are still hoops to jump through and lenders are looking for only the most creditworthy homebuyers.
However, if you have strong credit, sound financial footing, and are looking for a home – now couldn’t be a better time to buy.
Happy House Hunting!
~Blalock & Associates
http://www.gohomesearching.com/
Friday, May 21, 2010
National Infantry Museum at Fort Benning
The National Infantry Museum at Fort Benning opened almost 1 year ago! Here is a news release covering the Grand Opening:
Thousands Attend National Infantry Museum’s Grand OpeningJune 20th, 2009
Columbus, Georgia - June 19, 2009:
It was one of the hottest days of the summer, and 5,000 bottles of water seemed to evaporate into thin air. But the 6,000 people who came to witness the Grand Opening of the National Infantry Museum and Soldier Center refused to let a little sweat ruin the day.
The day began with a Fort Benning Infantry school graduation on the parade field adjacent to the new museum. Afterward, the crowd moved to the front of the museum for the ribbon cutting ceremony. After an introduction by National Infantry Foundation Chairman MG (Ret.) Jerry White and remarks by Columbus Mayor Jim Wetherington, Fort Benning Commanding General Michael Barbero and U.S. Representative Sanford Bishop, guest speaker Gen. (Ret.) Colin S. Powell took the stage.
“Let me point out that this would not be a certified official Fort Benning ceremony if it was not 95 degrees and the troops were not in the sun,” Powell joked. He went on to talk about his own experiences at the “Fort Benning School for Boys,” his and his wife Alma’s first Army home. It was here, Powell said, that he learned about leadership.
He praised the museum for making “a hero of the Infantry itself.”
“This site is much more than a mere memorial, and the word museum is entirely inadequate to describe it.” Powell said. “It’s the only attraction in the country to tell the story of the Infantry from the perspective of the soldier.”
Next, the official party cut a big red ribbon strung between two columns supporting the museum’s rotunda. They used a Revolutionary War Infantry Officer’s Sword, the same sword used by General Omar N.Bradley to open the original National Infantry Museum on Fort Benning on July 1, 1977. At the same moment, giant billowing panels of red and white fabric hung between each set of columns fell to the ground, unveiling the newly opened doors to the museum.
Within minutes, a line of people wanting tobegin their visit with a stroll up the Last 100 Yards snaked throughout the museum’s lobby. As they left, many - including General Powell - said ‘thank you’ for what the museum represents.
“Among many other things this is what we owe to those who went before. This is the place. This is the home. This is their legacy.”
Wednesday, May 19, 2010
Home Buying Tip
House design for a friendly family
What describes a great house? It looks good and makes you feel good when you're inside it. It is energy efficient and comfortable. And it facilitates frequent casual interactions among family members.
This last qualification may seem to be such a statement of the obvious it's not worth making. But as our houses have become bigger with more rooms in the shared public area and more bedrooms and bathrooms in the private area, family life has changed. The daily familial interactions that characterized American family life in a smaller house in which everyone was within talking distance of each other are no longer the rule.
Why does this matter? Frequent interactions are the essence of family life. They make us feel good and help maintain household cohesion. Even more important, through the thousands of interactions that we have with our children from infancy to adulthood, they learn a crucial life skill—how to get along with other people.
When children are young, family members will have plenty of contact with one another, whatever kind of house they live in. Very young children require constant supervision. Somewhat older children can play by themselves, but most still want to hang around their parents or caretakers. As the kids approach adolescence, however, they begin to want more independence and most will fan out into the rest of the house. Once those hormones kick in, they can become famously uncommunicative, often reclusive, and many prefer to stay in their own rooms. You can't force them to talk or to spend more time with you.
Happy House Hunting!
~Blalock & Associates
Fort Benning: Army Family Action Plan
Army Family Action Plan
Got an idea?
The Army Family Action Plan (AFAP) may be your answer. The AFAP is an Army-wide initiative to identify issues of concern to improve the overall Quality of Life for Soldiers and their Families. This process is used to identify the most critical well-being issues facing the Army today and present them to senior Army leadership for resolution.
Issues are collected at the installation level and divided into specific areas such as Medical/ Dental, Benefits/Entitlements, Family Support and Force Support. Delegates are made up of Active Duty, Reserve, Guard, Retirees, DA Civilians, Family Members and surviving spouses.
Delegates review and prioritize issues which are presented to the Garrison Commander at a brief-out session on the last day of the conference. Issues that are able to be resolved at the local level are worked until deemed complete or unattainable. Issues that are beyond the scope of Fort Benning are forwarded to the next level at Forces Command (FORSCOM) and/or Training and Doctrine Command (TRADOC). Issues not resolved at FORSCOM or TRADOC may be sent to Headquarters Department of Army (HQDA) for inclusion into the AFAP process. Those issues at HQDA are reviewed and worked by the General Officer Steering Committee (GOSC) until completion. Since AFAP was created in 1983, there have been 117 Legislative changes, 162 Department of Defense or Army policy changes and 178 Improved programs or services/funding.
Examples of Army-wide AFAP Success
•Service member's Group Life Insurance increased from $50,000 to $200,000.
•Soldiers may store a vehicle at government expense if PCS to location vehicle not allowed.
•Thrift Savings Plan was authorized.
•Creation of the Better Opportunities for Single Soldiers (BOSS) Program.
If you would like to submit an issue, fill out the online AFAP Issue Sheet.
If interested in volunteering for the conference staff positions, please contact the AFAP Program Manager, (706) 545-2794.
HQDA Active Issues Jul 09
HQDA Issue Update Book - Completed & Unattainable
2010 Department of the Army AFAP Conference Results
Hours & Contact Information
Address 7171 1st Cav Div Rd (Bldg 9608)(view on map)
Phone (706) 545-2794
Hours Monday thru Friday: 8am - 4:30pm
Email Contact the Army Family Action Plan coordinator
Submit an ICE comment card
Got an idea?
The Army Family Action Plan (AFAP) may be your answer. The AFAP is an Army-wide initiative to identify issues of concern to improve the overall Quality of Life for Soldiers and their Families. This process is used to identify the most critical well-being issues facing the Army today and present them to senior Army leadership for resolution.
Issues are collected at the installation level and divided into specific areas such as Medical/ Dental, Benefits/Entitlements, Family Support and Force Support. Delegates are made up of Active Duty, Reserve, Guard, Retirees, DA Civilians, Family Members and surviving spouses.
Delegates review and prioritize issues which are presented to the Garrison Commander at a brief-out session on the last day of the conference. Issues that are able to be resolved at the local level are worked until deemed complete or unattainable. Issues that are beyond the scope of Fort Benning are forwarded to the next level at Forces Command (FORSCOM) and/or Training and Doctrine Command (TRADOC). Issues not resolved at FORSCOM or TRADOC may be sent to Headquarters Department of Army (HQDA) for inclusion into the AFAP process. Those issues at HQDA are reviewed and worked by the General Officer Steering Committee (GOSC) until completion. Since AFAP was created in 1983, there have been 117 Legislative changes, 162 Department of Defense or Army policy changes and 178 Improved programs or services/funding.
Examples of Army-wide AFAP Success
•Service member's Group Life Insurance increased from $50,000 to $200,000.
•Soldiers may store a vehicle at government expense if PCS to location vehicle not allowed.
•Thrift Savings Plan was authorized.
•Creation of the Better Opportunities for Single Soldiers (BOSS) Program.
If you would like to submit an issue, fill out the online AFAP Issue Sheet.
If interested in volunteering for the conference staff positions, please contact the AFAP Program Manager, (706) 545-2794.
HQDA Active Issues Jul 09
HQDA Issue Update Book - Completed & Unattainable
2010 Department of the Army AFAP Conference Results
Hours & Contact Information
Address 7171 1st Cav Div Rd (Bldg 9608)(view on map)
Phone (706) 545-2794
Hours Monday thru Friday: 8am - 4:30pm
Email Contact the Army Family Action Plan coordinator
Submit an ICE comment card
Tuesday, May 18, 2010
Featured Floorplan: The Langford
Offered by Jeff Lindsey Communities (http://www.jefflindseycommunities.com/):
The Langford A & B
2460 sq ft
4 Bedrooms/ 2.5 Bathrooms
(Optional 5th Bedroom)
The popular Langford model features a two-story foyer, formal dining room, and an expansive family room open to the kitchen and breakfast area. The airy kitchen has stainless steel/ black appliances and includes a pantry for extra storage! The large master suite has a sitting area and walk-in closet, while the master bedroom features a separate garden tub and shower and a double vanity.
Happy House Hunting!
~Blalock & Associates
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