Posts
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
Fort Benning Families: Visit the Destin Army Recreation Area!
This is a great opportunity for families relocating to Fort Benning!
Destin, Florida Beach Getaway
From the Fort Benning MWR website:
Located just 220 miles south of Fort Benning, Georgia, the Destin Army Recreation area is comprised of forty-six RV sites, thirty-four hotel rooms, twenty studios, fourteen apartments, thirteen two-bedroom villas, and five three-bedroom villas spread out over fifteen acres on the shores of the Choctawhatchee Bay, just minutes from The Gulf of Mexico and sugar white sandy beaches of Destin.
Open year round and offering quality lodging at a desirable location with affordable rates, the area is open to Active Duty and Retired military personnel, their Families, and DOD Civilians.
Recently renovated villas, newly constructed studios, beautiful landscaping on the pristine waters of the bay and offering a full service marina, swimming pool, playgrounds, and picnic areas will make your stay memorable and enjoyable. We're confident that if you’re not already a regular visitor you soon will be.
Destin, Florida Beach Getaway
From the Fort Benning MWR website:
Welcome to Fort Benning’s Destin Army Recreation Area! Destin is known as “the World’s Luckiest Fishing Village” with pristine beaches and emerald green waters. Voted #1 best beach in 2009 by Southern Living magazine, Destin also received awards for best family destination, best city, and best weekend getaway and was featured at one of the hottest kayaking spots in Florida.
Located just 220 miles south of Fort Benning, Georgia, the Destin Army Recreation area is comprised of forty-six RV sites, thirty-four hotel rooms, twenty studios, fourteen apartments, thirteen two-bedroom villas, and five three-bedroom villas spread out over fifteen acres on the shores of the Choctawhatchee Bay, just minutes from The Gulf of Mexico and sugar white sandy beaches of Destin.Open year round and offering quality lodging at a desirable location with affordable rates, the area is open to Active Duty and Retired military personnel, their Families, and DOD Civilians.
Recently renovated villas, newly constructed studios, beautiful landscaping on the pristine waters of the bay and offering a full service marina, swimming pool, playgrounds, and picnic areas will make your stay memorable and enjoyable. We're confident that if you’re not already a regular visitor you soon will be.
Monday, May 17, 2010
Is the VA Funding Fee Worth it?
It depends on you. If you use a VA home loan, there is no monthly mortgage insurance required. So depending on how much you have to put down on your loan, the funding fee could end up being much less than the amount you would end up paying on mortgage insurance over the life of your loan.
Here is a chart to help you determine what your PMI (private mortgage insurance) rates would be. Use these numbers to help you choose whether your funding fee is worth it to you:
% Down Payment PMI Rate (30 yr mortg.) PMI Rate (10,15,20 yr mortg.)
80.01% - 85% .32 .19
85.01 - 90% .52 .23
90.01% - 95% .78 .26
95.01% - 97% .90 .79
Example: On a $150,000 loan, with a Down Payment of 5% on a 30 yr Fixed Mortgage:
$150,000 X .78%= $1170/yr in mortgage insurance
FYI: FHA loans require a 2.25% fee, AND mortgage insurance.. so consider this when choosing a loan
Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
Here is a chart to help you determine what your PMI (private mortgage insurance) rates would be. Use these numbers to help you choose whether your funding fee is worth it to you:
% Down Payment PMI Rate (30 yr mortg.) PMI Rate (10,15,20 yr mortg.)
80.01% - 85% .32 .19
85.01 - 90% .52 .23
90.01% - 95% .78 .26
95.01% - 97% .90 .79
Example: On a $150,000 loan, with a Down Payment of 5% on a 30 yr Fixed Mortgage:
$150,000 X .78%= $1170/yr in mortgage insurance
FYI: FHA loans require a 2.25% fee, AND mortgage insurance.. so consider this when choosing a loan
Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
VA HOME LOAN: the Truth behind the Funding Fee
The VA funding fee is required by law. The fee, currently 2.15% on no down payment loans for a first-time use, is intended to enable the veteran who obtains a VA home loan to contribute toward the cost of this benefit, and thereby reduce the cost to taxpayers. The funding fee for second time users who do not make a down payment is 3.3%. The idea of a higher fee for second time use is based on the fact that these veterans have already had a chance to use the benefit once, and also that prior users have had time to accumulate equity or save money towards a down payment.
For purchase and construction loans, members of the regular military fall into the category of first time user or subsequent user.
For first time users, no down payment requires a 2.15% fee, up to 10% down payment requires a 1.5% fee, and 10% or more requires a 1.25% fee.
For subsequent users, no down payment requires a 3.3% fee, up to 10% down payment requires a 1.50% fee, and 10% or more requires a 1.25% fee.
Can the VA Funding Fee be used as a tax write-off?
No... but it adjusts the cost basis upward, so if the sale of the property is taxable, then it would reduce the gain and therefore the tax.
Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
For purchase and construction loans, members of the regular military fall into the category of first time user or subsequent user.
For first time users, no down payment requires a 2.15% fee, up to 10% down payment requires a 1.5% fee, and 10% or more requires a 1.25% fee.
For subsequent users, no down payment requires a 3.3% fee, up to 10% down payment requires a 1.50% fee, and 10% or more requires a 1.25% fee.
Can the VA Funding Fee be used as a tax write-off?
No... but it adjusts the cost basis upward, so if the sale of the property is taxable, then it would reduce the gain and therefore the tax.
Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
Wednesday, May 12, 2010
Buy a Home around Fort Benning!!!
According the the Fort Benning Housing website:
Purchase a Home
Financial Freedom comes from having cash flow to do what you want, when you want. Owning a home is one of the surest ways to build wealth. You may want to consider using your BAH to invest in yourself through home-ownership. Both officers and enlisted personnel have used this approach to reduce their tax burden, provide a house for their family, increase their net worth and choose where they would like to live rather than being told "where to live".
A good place to start is by looking at our local realtor's website www.gohomesearching.com where you can get a ton of helpful information and browse both new home subdivisions and resales in the Fort Benning area. Also check out www.jefflindseycommunities.com for more information about a popular local builder.
As always, Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
Purchase a Home
Financial Freedom comes from having cash flow to do what you want, when you want. Owning a home is one of the surest ways to build wealth. You may want to consider using your BAH to invest in yourself through home-ownership. Both officers and enlisted personnel have used this approach to reduce their tax burden, provide a house for their family, increase their net worth and choose where they would like to live rather than being told "where to live".
A good place to start is by looking at our local realtor's website www.gohomesearching.com where you can get a ton of helpful information and browse both new home subdivisions and resales in the Fort Benning area. Also check out www.jefflindseycommunities.com for more information about a popular local builder.
As always, Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
Top 7 Tips for Buying New Construction Homes
Top 7 Tips for Buying New Construction Homes
By Eric Bramlett
New home communities are more popular than ever! With good reason – new home builders are using popular, open floor-plans, including appliances, sod, and blinds, and helping make it easier than ever to get into a new home with little or no money. New home transactions typically seem a lot easier, as well. If a buyer chose to, they could get through a new home transaction without contacting anyone except the on-site sales agent! However, this would open you up to HUGE losses. Take these simple steps to protect yourself in a new home transaction, and to ensure that yours is a success.
Use a Realtor Who Has New Home Sales Experience
Many people think that they can save money by not using, or don’t need the services of a Realtor when buying a new construction home. This couldn’t be further from the truth! New homebuilders typically try to monopolize a transaction – they only give you their attractive incentive packages if you agree, in writing, to use their lender, their title company, and sometimes even their insurance company! A Realtor will walk you through the transaction and will make sure that you’re protected every step of the way. If you’ve agreed to use the builder’s lender, your Realtor will make sure that you get a fair interest rate & fair closing costs. Your Realtor will know what the industry standards are, and will make sure that the builder doesn’t try and stretch beyond these. And best of all, a Realtor with a lot of new home transactions under their belt will have established relationships with your homebuilder. Because of this, the homebuilder will be on their “best behavior.” The homebuilder doesn’t want to run the risk of getting a bad reputation in the Realtor community, who can potentially bring the builder lots of homebuyers in the future. It really just comes down to the trust level you do or don't build with the realtor's in the subdivisions.
Don’t Sign ANYTHING Until You’ve Worked Out Every Detail of the Sale
Buying a home can be very emotional – and it should be. You’re not simply picking out a house; you’re picking out where you’ll spend the holidays next year, where your parents will come visit you, and where you might raise your children. However, the on-site sales agent will try and play on this emotion and get you to “write up the contract so that no one else can get your house.” That’s just fine, as long as you understand what you’re signing, and everything is okay with you. Just remember – no matter what is said, everything will be done as it is outlined in the contract.
GET A HOME INSPECTION!!!
Most people who buy new construction homes don’t bother to get a home inspection. Most new homes come with a one year “bumper to bumper” warranty that includes everything, and many homebuyers feel that they can find out if there are any construction flaws during those 12 months. The problem with this mindset is that many problems won’t surface until well after the 12 months. Remember, your home was built by humans, and humans make mistakes. And, no matter how much experience and reputation a builder brings to the table, it’s still next to impossible for that builder to double check every part of the job their subcontractors have completed. A licensed inspector will go through a very thorough checklist to make sure that everything has been accounted for. At the very least, get an inspection so that you can sleep soundly at night, knowing that an independent third party has given your new home their stamp of approval.
(Preferred Lenders
A lot of builders offer incentives for using preferred lenders. Make sure you check into the details of what it will cost YOU to use that lender, and weigh out your options of benefit versus cost. As always... do your research!)
Research the Builder
Most builders are “good” builders. They take simple steps to protect their neighborhoods. Research your builder, or ask your Realtor if your builder takes these simple steps to make sure that your neighborhood won’t instantly go down in value:
1) Limit the # of investor purchases – this makes sure that the neighborhood doesn’t turn into a “rental” neighborhood & allows the “pride of ownership” to shine through.
2) Continues to build equal or greater value homes in the same and surrounding neighborhoods. Builders who avoid doing this create a “vacuum” in home prices and instantly devalue new home purchases.
Choose Your Appraiser
You’re going to pay for an appraisal one way or another! The lender will require that you have an appraisal in order to loan you the money for the home! Additionally, most appraisers charge about the same of money for the service – so why not choose your appraiser? Ask around until you’ve been referred to a good appraiser and request that they perform the service. Ask for a copy of it and read it! Call your appraiser if you have any questions. This will give you an in-depth knowledge of the market area – and it’s something you would pay for, regardless!
Research City Plans
New neighborhoods are typically on the outskirts of town – the land is readily available and less expensive, which means that you can buy a bigger house for the same amount of money. In these outskirt communities, it’s very important to know what the city has in store in the way of roads, zoning, public transportation, parks, and schools. These factors will dictate whether your new neighborhood will become the next “big thing,” or the next “cheap thing.” If you’ve decided to use a reputable Realtor, your job will be easy! Simply ask your Realtor and he/she will be able to provide you with lots of information about city plans that have been approved, and city plans that are still being talked about.
Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
By Eric Bramlett
New home communities are more popular than ever! With good reason – new home builders are using popular, open floor-plans, including appliances, sod, and blinds, and helping make it easier than ever to get into a new home with little or no money. New home transactions typically seem a lot easier, as well. If a buyer chose to, they could get through a new home transaction without contacting anyone except the on-site sales agent! However, this would open you up to HUGE losses. Take these simple steps to protect yourself in a new home transaction, and to ensure that yours is a success.
Use a Realtor Who Has New Home Sales Experience
Many people think that they can save money by not using, or don’t need the services of a Realtor when buying a new construction home. This couldn’t be further from the truth! New homebuilders typically try to monopolize a transaction – they only give you their attractive incentive packages if you agree, in writing, to use their lender, their title company, and sometimes even their insurance company! A Realtor will walk you through the transaction and will make sure that you’re protected every step of the way. If you’ve agreed to use the builder’s lender, your Realtor will make sure that you get a fair interest rate & fair closing costs. Your Realtor will know what the industry standards are, and will make sure that the builder doesn’t try and stretch beyond these. And best of all, a Realtor with a lot of new home transactions under their belt will have established relationships with your homebuilder. Because of this, the homebuilder will be on their “best behavior.” The homebuilder doesn’t want to run the risk of getting a bad reputation in the Realtor community, who can potentially bring the builder lots of homebuyers in the future. It really just comes down to the trust level you do or don't build with the realtor's in the subdivisions.
Don’t Sign ANYTHING Until You’ve Worked Out Every Detail of the Sale
Buying a home can be very emotional – and it should be. You’re not simply picking out a house; you’re picking out where you’ll spend the holidays next year, where your parents will come visit you, and where you might raise your children. However, the on-site sales agent will try and play on this emotion and get you to “write up the contract so that no one else can get your house.” That’s just fine, as long as you understand what you’re signing, and everything is okay with you. Just remember – no matter what is said, everything will be done as it is outlined in the contract.
GET A HOME INSPECTION!!!
Most people who buy new construction homes don’t bother to get a home inspection. Most new homes come with a one year “bumper to bumper” warranty that includes everything, and many homebuyers feel that they can find out if there are any construction flaws during those 12 months. The problem with this mindset is that many problems won’t surface until well after the 12 months. Remember, your home was built by humans, and humans make mistakes. And, no matter how much experience and reputation a builder brings to the table, it’s still next to impossible for that builder to double check every part of the job their subcontractors have completed. A licensed inspector will go through a very thorough checklist to make sure that everything has been accounted for. At the very least, get an inspection so that you can sleep soundly at night, knowing that an independent third party has given your new home their stamp of approval.
(Preferred Lenders
A lot of builders offer incentives for using preferred lenders. Make sure you check into the details of what it will cost YOU to use that lender, and weigh out your options of benefit versus cost. As always... do your research!)
Research the Builder
Most builders are “good” builders. They take simple steps to protect their neighborhoods. Research your builder, or ask your Realtor if your builder takes these simple steps to make sure that your neighborhood won’t instantly go down in value:
1) Limit the # of investor purchases – this makes sure that the neighborhood doesn’t turn into a “rental” neighborhood & allows the “pride of ownership” to shine through.
2) Continues to build equal or greater value homes in the same and surrounding neighborhoods. Builders who avoid doing this create a “vacuum” in home prices and instantly devalue new home purchases.
Choose Your Appraiser
You’re going to pay for an appraisal one way or another! The lender will require that you have an appraisal in order to loan you the money for the home! Additionally, most appraisers charge about the same of money for the service – so why not choose your appraiser? Ask around until you’ve been referred to a good appraiser and request that they perform the service. Ask for a copy of it and read it! Call your appraiser if you have any questions. This will give you an in-depth knowledge of the market area – and it’s something you would pay for, regardless!
Research City Plans
New neighborhoods are typically on the outskirts of town – the land is readily available and less expensive, which means that you can buy a bigger house for the same amount of money. In these outskirt communities, it’s very important to know what the city has in store in the way of roads, zoning, public transportation, parks, and schools. These factors will dictate whether your new neighborhood will become the next “big thing,” or the next “cheap thing.” If you’ve decided to use a reputable Realtor, your job will be easy! Simply ask your Realtor and he/she will be able to provide you with lots of information about city plans that have been approved, and city plans that are still being talked about.
Happy House Hunting!
~Blalock & Associates
www.gohomesearching.com
Subscribe to:
Posts (Atom)