Posted by Marie Presti on 1/22/2017

Buying a new home is a significant investment and it's best to get it right the first time. To achieve this, it is important that you take into consideration lots of important factors before signing on the dotted line. Many people, in a state of euphoria and excitement hurry into making  decisions that they later regret. There are many important elements involved in purchasing a home that need serious consideration to avoid long term remorse.  Here are some important factors to consider when you are looking to purchase a home. The Condition Of The home The condition of the home you are buying is very important as it should be a true reflection of the purchase price. Here are a few specific issues you must keep an eye open for.

  • Start in the kitchen, make sure all appliances are functioning. Make sure the integrity of the kitchen cabinets are intact. Turn on the tap and leave it running for a few minutes to make sure there are no problems with the drainage system.
  • What is the capacity of the hot water system? Is it sufficient for the needs of the entire family? Check for leaks, rust and aging indicators. Be careful with this as repairing a hot water system is quite expensive.
  • Examine the walls carefully, were they recently painted? If so, do not be deceived, a fresh coat of paint could be masking existing cracks in the walls resulting in an investment of thousands of dollars to repair.
  • Tap the walls to perform a preliminary termite infestation check. You may need the services of a professional to do this for you.
Financial Requirements After certifying that all is well with the home, you can then proceed to negotiations. Although this requires some skills, here are a few tips.
  • There is no harm in negotiating as much as possible, push as far as you can. Some individuals hire a negotiator for this, as cool as this may seem, it may not be the best idea as you are the only one who can effectively communicate your needs. It is recommended you do the negotiation yourself. You will be amazed at how much you can save.
  • Make sure you are familiar with the entire terms and conditions. What is the down payment? What is the payment plan? Are you comfortable with it, what is the interest rate? You must be familiar with all these factors before signing on the dotted line.
The History Of The House
  • It would be nice if you had a little insight into the history of the building. How do you go about this? Ask the neighbors, do your due diligence. Inquire about previous owners, ask about recent renovations, get a feel for the vibe in the neighborhood.  Get as much information as possible, in short learn the story of the house before making it your home.
In summary, there is a lot of joy and sense of fulfillment that is associated with buying a new home. In order to make this joy last, you have to get it right the first time, taking the aforementioned into consideration would help you achieve this.  





Posted by Marie Presti on 9/11/2016

An open house allows a homebuyer to explore a residence. And ultimately, this event may help a homebuyer determine whether to submit an offer on a home. For homebuyers, there are many terrific reasons to attend an open house, including: 1. You Can Learn About a Home from a Home Seller's Real Estate Agent. Although you may spend time reviewing home listings online, there may be information about a house that is unavailable on the web. Fortunately, an open house enables you to speak directly to a home seller's real estate agent and find out more information about a residence. From learning whether a home seller is motivated to sell quickly to finding out which internet services providers are available in the area, a home seller's real estate agent should be able to answer any questions you may have during an open house. As a result, you can receive plenty of insights that can help you make an informed decision about whether a particular residence is right for you. 2. You Can Check Out the Overall Condition of the Home. Online photos sometimes can be deceiving, but an open house allows you to get an up-close look at a residence and find out if it fulfills your personal needs. For instance, an open house will enable you to check out the size of each room as well as the overall condition of the home's exterior and interior. Plus, you may be able to review the performance of a home's air conditioning and heating systems and find out if these units will need to be repaired or replaced in the near future. Perhaps best of all, an open house gives you the chance to envision what life could be like if you bought a residence. Because you can walk around the home and explore it at your leisure during an open house, this event provides you with the freedom to evaluate a residence in a pressure-free situation. 3. You Can Find Out if There Is Significant Interest in a Home. Typically, a home seller's real estate agent will set up a sign-in sheet for attendees who visit an open house. This sheet enables a home seller to see how many people attended an open house and may provide you with a good indication about whether there is substantial interest in a residence. It is important to remember that the housing market is competitive, regardless of whether you're searching for a residence in a buyers' or sellers' market. As such, if an open house is filled with people, there likely is significant interest in a house. And if only a few people attend the event, there may be a greater chance that a home seller would accept an offer below his or her initial asking price. Ask your real estate agent for information about open houses in your area – you'll be glad you did! This real estate professional will be able to keep you up to date about open houses and help you find your dream home quickly and efficiently.




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Posted by Marie Presti on 3/13/2016

What is your dream home? It is a water-front home, a cabin in the woods, a city apartment or a home on a cul de sac in a suburb? The phrase “dream home” means a lot of different things to a lot of different people. Here are some things to consider when looking for your dream home: Square Footage Consider how much room you need in your home. Do you need a media room or a finished basement? Three decades ago the average home size was 1,645 square feet. Now the average home size has gone up to 2,195. Recent trends have shown house sizes again decreasing as buyers evaluate what they truly need. Floorplan Think about how you will use your home, will you be entertaining? Do you like your home with rooms that are intimate and have a traditional feel? Or do you prefer an open floor plan? The way you use your home will dictate the type of floor plan you ultimately choose. Extras What kind of extras are you looking for in a home? Do you want granite counter tops, high-end appliances, or other extras?  That will also affect price. Decide what you want and make sure it fits your budget. Landscaping The bigger the better may not be the case when it comes to a lawn. A big lawn means lots of landscaping. If you are willing to perform the necessary upkeep you may opt for a large yard; if not, your dream home may be a home with a smaller yard or even a condo. Location Choosing a neighborhood is important when picking your dream home. If you have a family or are planning one in the future you most likely will want to look at school systems.  Other considerations are commute time to work, location to stores, highways, the ability to walk to venues and public transportation.    





Posted by Marie Presti on 1/17/2016

Trying to decide what type of mortgage is right for you can be tricky business. So you may be wondering what is an adjustable rate mortgage? An adjustable rate mortgage or ARM, has an interest rate that is linked to an economic index. This means the interest rate, and your payments, adjust up or down as the index changes. There are three things to know about adjustable rate mortgages: index, margin and adjustment period. What is the index? The index is a guide that lenders use to measure interest rate changes. Common indexes used by lenders include the activity of one, three, and five-year Treasury securities. Each adjustable rate mortgage is linked to a specific index. The margin is the lender's cost of doing business plus the profit they will make on the loan. The margin is added to the index rate to determine your total interest rate. The adjustment period is the period between potential interest rate adjustments. For example, you may see a loan described as a 5-1. The first figure (5) refers to the initial period of the loan, or how long the rate will stay the same. The second number (1) is the adjustment period. This is how often adjustments can be made to the rate after the initial period has ended. In this case, one year or annually. An adjustable rate mortgage might be a good choice if you are looking to qualify for a larger loan. The rate of an ARM is typically lower than a fixed rate mortgage. Remember, when the adjustment period is up the rate and payment can increase. Another reason to consider an ARM is if you are planning to sell the home within a few years. If this is the case you may end up selling before the adjustment period is up. Federal law provides that all lenders provide a federal Truth in Lending Disclosure Statement before consummating a consumer credit transaction. This will be given to you in writing. It is designed to help you compare and select a mortgage.





Posted by Marie Presti on 12/14/2015

Buying a home is a very important decision. Before you rush into a home you should consider all the factors. Making sure you end up with the right home involves figuring out exactly what features you need, want and don't want in a home. Before starting your search, you should make a "wish list" to decide which features are absolutely essential, which nice “extras” are if you happen to find them, and which are completely undesirable. The more specific you can be about what you're looking for from the outset, the more effective your home search will be. Also keep in mind, that in the end, every home purchase is a compromise. Create your own personalized "wish list" and when you're finished filling it out; share it with your real estate agent. Become an educated buyer •The web is one of the best ways to search for homes today. With this website, you can receive daily emails with new and updated listings from the towns and price range of your choice. •Search the entire MLS for all homes, condos, land, multi family, commercial properties, and past sold properties at your convenience. •View full listing sheets showing amenities, taxes, lot sizes, beds, baths, rooms, siding, fireplaces, garages, room sizes and much more. •Get property addresses and see where the properties are located on MapQuest. •Check schools and community profiles of your preferred towns. •Save preferred listings in your own file to view anytime. •Calculate approximate mortgage payments for specific properties. Home Inspection Once you have made an offer on a home, you will need to schedule a home inspection, conducted by an independent authorized inspector. It is extremely important to hire a reputable inspector so that you know exactly what you are buying. Do not hesitate to ask friends, family, and co-workers for advice. If you are satisfied with the results of the inspection, then you can proceed with the sale. If the inspector finds problems with the property, you may want to negotiate with the seller to lower the price, or to pay for certain repairs. Appraisal Your lender may require you to get an appraisal of the house you want to buy, to make sure it is worth the money that you are borrowing. You may select your own appraiser, or you may ask your real estate broker to help you with this task. Homeowner's Insurance Lenders require that you have homeowners insurance, to protect both your interests and theirs. Like everything else, be sure to shop around for insurance that fits your needs. Settlement or Closing Finally Make Sure Before you Buy Finally, you are ready for the closing. Be sure to read everything before you sign! You should have both your real estate broker and an attorney present at the closing to ensure that all is in order.