Buy or Sell a Home| Real Estate Pr

The Nudist Home Buyers

2008-09-26T07:27:00.004-07:00

When searching for options in real estate for the nudist, the home based community may be the last in a line of choices. Many communities shy away from a totally nude lifestyle for fear of placing children in an atmosphere that may be inappropriate for the youngest of residents. But, rest assured, there are real estate options out there for the nudist that can be undertaken on a part time basis and without the worries of children and onlookers.

Hotels

Across America, there are more and more nudist hotels popping up all the time. In Tampa, the Paradise Lakes hotel looks and feels just like any other top of the line hotel. But, the hotel reserves the option when it comes to clothing. Many people who choose to stay at the Paradise Lakes hotel choose so because they can leave their clothing in the room and walk right out the front door just as they were born, nude.

Cabins

When choosing a more outdoor vacation or trip, a cabin can provide the much needed seclusion for the nudist. These cabins are often placed right in the middle of nature and far enough away from the rest of the world to keep those onlookers at bay. And, a cabin tends to be much sturdier than a tent.

Apartments

Nudist resorts are seeing the upturn in nude real estate needs and are providing rental apartments within the resort lands. These apartments tend to be less expensive than the hotel rooms and provide a more long term solution for living life in a prime piece of nudist real estate.

Condos

Along the same lines as the apartment, condos are generally sold to the nudist and thus tend to be harder to find. This permanent housing option for the nudist will often take time and a quick offer to secure.

Buying Land

In the state of West Virginia, Avalon offers nudists the chance to own a piece of the Wild and Wonderful. These home lots are available for sale and can he upgraded with a cabin, campsite or a spectacular nudist home.

Life as a nudist is a thrill a minute ride. But, there are trials and tribulations that need to be overcome in order to live life as you please. If there are children in your life, the nude resort and a vacation may be the best choice until the children are grown. Otherwise, try these variable nudist's real estate options.

Having the Perfect Home in a Real Estate Market

2008-09-26T07:27:00.003-07:00

Certainly, Sarasota is well known to be one of the greatest places for vacation. A lot of tourists love to go to Sarasota to enjoy the attractive and beautiful places and attraction here. Reasons why, others decided to purchase their second home in Sarasota real estate, other even their first homes.

In Sarasota, you can find perfect white sand beaches, five star resorts, country clubs, world-class shopping and fine dining, all these Sarasota can offer you, isn't that fantastic. Sarasota has all the attraction and appeal of a southern town with the conveniences of a big city. It is even the home to major symphony, opera and ballet companies.

Definitely, you would want to learn in order to make your buying process at Sarasota real estate be a success. It may be as easy for you as it seems to someone to hand you over the keys and you have it over the funds for the purchase, but it is not that simple.

Yes, you may have the money, but you need to think and do a lot of things before actually purchasing a home for you to make sure you'll be having the perfect home you ever dreamed of. The first thing you need to do is to make lists of the things you need and want in a home. In doing the lists, you have to be reasonable enough, just think of the important and necessary things that you need, like how many bedrooms you need, how many bathrooms, do you need a big yard or a small yard will do. These are just few of the things that you need to think about in planning to purchase a home in Sarasota real estate.

You can conduct home inspection in order to make sure that the home you will about to purchase is n good condition. Check out the entire house, for you to make sure that the house is the right one for you. If the home inspector find major problem, you can lower your offer or simply ask the seller to fix the problem.

If it is your first time in Sarasota real estate, you can work with a real estate agent. But take note, do not just work with a real estate agent, make sure that he/she is the right one for you.

Common Home Defects

2008-09-26T07:27:00.002-07:00

Common Defect One Fresh Paint: Home inspectors (unless working for Realtors) are not stupid. Fresh paint is frequently and usually applied to cover up another defect.

Common Electrical Hazards:

I have been to thousands of homes and can not tell you why or how some did not have a major electrical fire. Many have such poor wiring and lucky owners (no fire yet)

that I feel like asking the owner to go out and pick some lottery numbers for me. Do not play with electricity, you can cause a fire or electrocute you or others.

Common Defect Rotted Wood Under Plumbing Fixtures:

A water stain or two under a bathroom can cost $15,000 or so to fix. If there is a stain under bathroom assume it is active till proven otherwise and keep in mind additional latent damages must be expected to exist.

Common Defect Water Intrusion Below Grade:

Water in the basement is bad. It can create high moisture conditions conducive to mold and damage storage. Usually surface water is the problem. Installation of gutters, downspouts and improving drainage away from the home are ways to solve may problems. Installation of basement perimeter drains should be a last resort, not a quick fix.

Common Ceiling Stains: All stains are indications of an active leak unless corrective actions have been taken. As home inspectors we lack crystal balls. If stains exist the owner and or contractor must tell you in writing what was done to cure the problem and when or you are taking an open ended risk.

Common Roofing defects: A common problem found during home inspections is problems with the roofing. I swear people would rather sell a home than replace a roof. Roofing removal and replacement can cost $8,000o or so for an average home. The money is well spent because if the roofing is not changed before it fails expensive problems are just about guaranteed to occur.

Common Building Violations Additions and Alterations Without Permits:

Houses are seldom built perfect. Beware of those who tell you all the work in the home was performed by craftsman who pulled all the permits and dealt with all the difficult municipal inspectors. I am sure there are many great municipal inspectors out there. I find it hard to believe the only ones the owner tells us about are the strict ones. I also find it hard to believe they only used the best contractors. If there were that many great contractors out there I would still be a construction project manager.

Questions to Ask During a Home Inspection

2008-09-26T07:27:00.001-07:00

I'll start my list with questions I am never asked that I think are most important.

First question you should ask is one that I have yet to be asked by any home buyer since 1993 despite having 7,000 or so clients. You should ask to see the inspectors state issued license or ID card issued by ASHI or a reputable home inspector organization. Please ask, I have been carrying those ID's in my wallet for years just in case some one asks for them. If your inspector can't find his or hers it is time to stop the inspection and try again with another company.

Another question you should be asking the home inspector is what is your education, training and experience. A good home inspector will have years of inspection experience, a few hundred hours of class room experience and be able to tell you the last few continuing education classes attended. New Jersey law requires inspectors to have at least 40 hours of continuing education in home inspection every two years. I have taught many of those classes and found many students learned quite a bit.

Home inspectors expect questions to be asked during home inspections. If you ask a home inspector a question, hear the answer and nod your head up and down the home inspector is likely to feel your question was answered. If you do not understand the answer a home inspector gives you tell the inspector. I have no problem at all explaining things more than once and in different ways till buyers understand.

Ask the home inspector about any of your concerns. Do not bother asking the inspector if you should buy the home, if the home is right for you, if the price is right, who has to fix what and the like. Home inspectors can answer your questions about most issues however the above questions are outside of the field of expertise of most home inspectors.

Feel free to questions the home inspector about the drainage around the exterior of the home, how to help keep your basement dryer, how to prolong the useful life of the roofing and if there are problems with the roofing and or siding. Home inspectors answer those questions all the time and can provide useful tips.

While outside ask the home inspector if there are any signs of improperly abandoned oil tanks, if there are the home inspector can advise you and your attorney how to proceed.

Home inspectors can tell you how many amps the service is, the service voltage, if there is room to expand within the electric panel, if amateurs have caused problems with the wiring and if the wiring appears to be safe. If the home is older make sure you ask the inspector if aluminium wiring or knob and tube wiring exists, both are potential fire hazards and may make it difficult to get home owner's insurance.

When the home inspector is inspecting the plumbing system ask if the sewer clean out cap is newer. If it is suspect problems with the sewer pipe may exist and budget for replacement. Ask the inspector how old the plumbing supply, waste and vent pipes are. If the pipes are old replacement may be necessary sooner than you would like.

Heating systems must be inspected and you are entitled to be told how the heating system works. If you do not know the parts on the boiler or furnace now is the time to find out. Ask the home inspector questions about what part does what and why they are there. Every home inspector I know is anxious to teach you everything he or she knows. If the inspector does not know the names of the parts on the equipment you should be concerned.

Many buyers have questions to ask home inspectors about the structure of the home. Keep in mind home inspectors can not see into or through walls. Home inspectors can see what they can see and make a few educated guesses. Home inspectors are likely to miss hidden damages from insects, rot, water and construction defects unless obvious symptoms exist. Home inspectors who provide an answer of "I do not know" when asked the question is there hidden damages are not being evasive they are being honest.

USDA Rural Development - Last Loan Standing For 100% Financing

2008-09-26T07:27:00.000-07:00

And then there was one. With the recent struggles in the mortgage and housing industries the availability of true no down payment programs have all but vanished. All, but vanished except for little known and little used program offered by the US Department of Agriculture and their Rural Housing Division.

USDA Rural Housing Loans have been around for a while, but with all the easy money out their they were often ignored by home buyers and mortgage lenders alike, but no more. As the LAST remaining program allowing for 100% financing I expect their use will see a pretty dramatic rise in the next couple of years.

Created to foster development in America's lesser populated areas, The USDA Rural Housing program is actually quite strong. Beside the 100% (102% with the funding fee) aspect they also have NO mortgage insurance. Like FHA, they offer flexible credit qualifying, reasonable debt to income ratio allowances, strong fixed rates, and little barrier to entry. They also will allow you to finance up to 100% of any repairs you may want to do and base the loan on "AS-IMPROVED" value. So that foreclosure down the road that is a great deal, but needs a little work? Yeah, you can buy it and finance the repair!

There are a few caveats to the program however. For one you need to live in an area that is low population density. Secondly, there are some income restrictions as well based of a percentage of what HUD has determined the median income level for your area to be. Don't let either of those requirements scare you though, they are more generous then you might think.

If you have questions on whether a property or your income will qualify click on the link below and we will look it up for you. In the meantime, keep that down payment in the bank and get out there and find you a house.

Londoners - Would You Rather Live in a Bedsit Or a 4 Bedroom Detached?

2008-09-20T04:51:00.004-07:00

It is amazing to believe this but soon, commuters in London will be able to travel home to Corby in Northamptonshire, in about the same time as it would take to get to somewhere like Wandsworth in the City! This is due to the opening of a new Train Station and the so-called Corby Extension. Travel times on the direct line from Corby to London are expected to be in the region of 70 minutes. This is good news for a town that seems to have been in a constant depression since the days of Margaret Thatcher. Like some throwback to the Seventies the Town Centre wouldn't seem out of place in an episode of the Sweeney.

However, I've always found that Corby's reputation as a "tough" town precedes it. In reality, outwith a couple of estates (which, due to 60s planning ideals all have ring roads around them and are easily "dodged") Corby is no different from any other sizeable Midlands town. It is looked down upon by its near neighbours Kettering, Wellingborough, Rushden and Market Harborough but is in fact a lovely place to live. The coming of the railway reinforces that point.

As a potential resident, have a look at the online property listings. At the moment £160,000 would get you a studio flat in Wandsworth - the cheapest thing on the market. However, £160,000 in Corby would get you a 4 bed detached, with double garage in a village location, separate Dining Room and a utility room too. There is no comparison whatsoever! In these days of telecommuting, living in a town such as Corby could mean a huge improvement in quality of life. Even if you had to travel into the City it isn't going to take much longer than the equivalent journey from somewhere like Tooting or Croydon.

Get the Complete Skinny on the Madison Heights VA Real Estate Market Today

2008-09-20T04:51:00.003-07:00

Judging by our initial research and observations of this area, the Madison Heights VA Real Estate Market seems to be growing at a much faster rate than the average city. This got us thinking how important it would be to review this city. Everyone is searching for their share of the american dream, and people moving out to this area are making friends and a new home for themselves.

If you are privy of someone who wants to deal with the Madison Heights VA. Real Estate market there are a cornucopia of websites on the internet or even in the press that can reveal to you the vast array of houses that are for sale. You can also search some magazines which show such advertisements. These adverts will also let you know about the style of houses that are up for sale. This article will be belaboring some of the info that you need in order to make a decision if Madison Heights is the right location for you to move your family to.

There are a cornucopia of general public attractions that will make you and your family feel extremely welcome and extremely glad that you decided to go with the Madison Heights, VA. Real Estate Market. As explained earlier there are a cornucopia of general public attractions as well as out door things that you can enjoy with the remainder of your family as well. You will be extremely blessed that you decided to make this choice and viewing the pleasure on the faces of your children and your spouse will make it all worth it.

Real Estate In Madison Heights

You will realize that Madison Heights is a super place to park your cap so to speak. They have lots of amenities in this area, and lots of new stores and strip malls being built as of this writing. The health care is this city is decent, and this comes right from the mouths of residents in this area. It's a wonderful place to have and raise a family in, and the most important part is that homes in this area are very affordable, you can be paying hundreds less per month for your mortgage than most places in the country.

These sites will give you virtual tours of the houses that are available for sale in this particular area, along with extremely well shot pictures, there are also special tools that will give an estimate of the appraisal value of the houses that you are looking into and also property listings which these sites will guide you through, even if you have never even thought about looking into this until right now. The most distinguishable website happens to be Virginia Real Estate Gurus.

Some of these sites also have Realtors such as Virginia Real Estate Gurus that will mentor you in Buying A House, Selling Your House and will connect you for free with someone who can assist you. Some professional real property agents will also investigate info regarding the general public that you would like to move to. These people are of such awesome assist, even if you would prefer to get info about a particular school in the city for your youth, the agent can also assist with this.

We missed telling you a few things about the Madison Heights VA Real Estate Market so we'll take this opportunity to let you know now. If you have energetic teenagers they have the Red Oaks Waterpark, which is a blast and in this case we mean it literally. They also have a Chamber Of Commerce if you need assistance or want to learn a bit about City Politics this is where you'd start. They also have Restaurants, Movies, Fitness Centers and there is something here for every family.

A Critical Review of Amherst VA Real Estate

2008-09-20T04:51:00.002-07:00

Real Estate In Amherst VA

There never seems to be a shortage of topics to discuss when it comes to Amhurst VA. A lot of people aren't aware that this city is just a short drive away from all the Virginia Hot Spots such as Madison Heights, Lynchburg, Roanoke and Richmond. Also it isn't terribly far away from Virginia Beach. If the Amherst VA Real Estate Market is something you were considering, we'd have to say this is a wise move. You can leverage a lot by moving out here before the city gets too much more attention as it's starting to now.

Amherst is a unanimously voted greater sized city with a modest town feel. You have many miles of rolling hills, trees, and the sun shining. You're not too far from Richmond or even the Capital of the US if you want to take a pleasant trip. Culture near Amherst as well as the city itself are going to be top of the line considering its whereabouts. Richmond is the largest city in the region with dining facilities, universities, and retail and discount stores that will adhere to all your families needs. Even in Amherst you will discover dining facilities, Strip Malls and Large Shopping Malls, and Community Colleges to go to. In truth there are 6 universities nearby Amherst VA.

The Amherst, VA. Real Estate Market is one of the most respected in the Country right now. When trying to learn more about this area there are particular highlights to search into. The educational system is splended, the crime is low, and the healthcare is fundamentally splended. In Amherst you have all of this to look forward to. In fact the crime rate over the last 8 years has lowered from what it was. The city is taking an active interest in making it a glowing place for new comers to call home. They are not only looking at lowering crime to an almost a zero level, they are also rebuilding the city as well which is another feather in its cap.

Amherst Real Estate

Amherst is a very unique city. Let me explain. On one hand you have great priced, refurbished housing. This city is considered "old salt" in the State of Virginia. You also have a situation where a lot of the houses in this area are protected by the towns Preservation Society. This means you will have some extra rules to follow. Not super hard rules by any means, just standard fundamental protocols that are easy to adapt to and thousands of people adhere to on a daily basis. On the other hand, you have a situation where builders are putting up new housing tracts, so if you are seeking a newer home in Amherst you are also in luck.

Many of the residents will have a family that contains children. This means a myriad of time is invested on the educational system, making sure it is up to date and able to give children the edge they need to make it in todays and tomorrows world. The same procedures also carry over with the healthcare system. The healthcare in Richmond and even Amherst will be very able to give children the edge they need to make it in todays and tomorrows world. It's important to realize that the medical facilities in Amherst, if you can't discover what you command will refer you to Richmond.

One of the big things you have to look at before deciding to make a move to any specific area, is if the area will support you and your family, and if there's a job to meet your skill. Now if you're retired, there's no need to worry about this. But if you're younger and earning income for your family, you have to decide for yourself if the Amherst VA Real Estate Market has a job to fit your need. And our research says that it does. Whether you went to school for Technology, Health Care, The Rail-Road, Construction or just needed a modest job such as becoming a part-time Waitress, there are many businesses needing help in the surrounding cities. These homes sell from 120k to 300k as a general rule, however there are variations both ways.

The Cities and Towns of Napa County Are Incredible

2008-09-20T04:51:00.001-07:00

The cities and towns of Napa County are small, friendly and diverse. If you have the good fortune to live here, you might start your morning off with a "hello" to a neighbor riding a horse, stop in at the local produce stand to pick up something for dinner, or even have an iced coffee and a slice of freshly made raisin bread at the locally owned bakery on Main Street. You might be retired, work in light industry or tourism, or be raising a family. On any given day, you might enjoy the multitude of festivals, performing arts, and outdoor activities or other entertainment that the towns of Napa County offer. Conversely, you might want to take advantage of being close to major U.S. cities like San Francisco and Sacramento, which are just a short drive away. So you might just say that when you live in the cities and towns of Napa County, you have the best combination of nature and civilized living that you can possibly imagine here on earth.

Napa County has quite a few charming cities, with the city of Napa itself being the largest. At a population of about 75,000, the city of Napa is the business and economic center of the valley, and as such, is also the county seat. The city of Napa is also the oldest city in the county. It was founded in 1847 and has quite a history, including playing a major part in the great California Silver Rush of 1858. Today, it is a flourishing city with many local businesses, shops, restaurants, several art galleries, and is home to the Napa Valley Opera House and Lincoln Theater. The City of Napa is a key participant in the continuing development of the wineries, agriculture, and tourism that continue to make the region flourish.

Further north from the City of Napa is the town of Calistoga, whose name comes from combining the names of California and Saratoga. While its economy was originally based on silver mining, Calistoga is now more famous for the hot springs and volcanic ash that supply the local spas with highly sought after therapeutic treatments. Calistoga is also the gateway for several natural wonders like the "Old Faithful" geyser of California, the petrified forest, and the Robert Louis Stevenson State Park. Calistoga retains much of its charm of yesteryear thanks to being an official destination of the National Trust for Historic Preservation.

Other cities of Napa County include American Canyon, St. Helena, Yountville, Milliken Creek, and Putah Creek. These are all smaller towns that center around a walkable and usually historic downtown area featuring a "Main Street" atmosphere with many local eateries, shops, and businesses. There are many famous residents that own property in the valley and while there is quite a bit of tourism in the area, most towns are zoned to protect the privacy of local residents. So, if you like the sophistication of a metropolitan area combined with a small town atmosphere, Napa County is the perfect place to be.

Purchasing a House For the First Time

2008-09-20T04:51:00.000-07:00

You want to buy a house. What can you afford? The old rule of thumb was easy: multiply your annual family income (before taxes) by 2 and that was your price range. Today, it's not that simple. To figure out what you can afford, there are three basic factors to consider: the down payment (most lenders require between 10 and 20 percent); your ability to qualify for a mortgage; closing costs (they can range between 2 and 7 percent of your mortgage loan).

Whatever kind of lender (mortgage bank, commercial bank, savings-and-loans association, credit union, etc.), the institution is primarily concerned with your willingness and ability to repay the home loan. Basically, here is what the lender wants to see:

That no more than 28 percent of your gross monthly income will be spent on housing (your mortgage principal and interest, taxes, insurance, etc.);
That your monthly recurring debt (your housing costs plus all your other personal debt - e.g., auto loan, credit cards) does not exceed 36 percent of your gross monthly income.

These numbers, however, are somewhat flexible, depending on your individual financial status. Also, the limits may vary (go up) for states like California where housing costs are high.

Before granting you a loan, the lender will carefully check out your credit history, your assets, and the property you wish to buy (to be sure the home has adequate value). All lending institutions have their own formulas for determining just how big a mortgage they will give you. Even if you are not quite ready to buy a home, you might want to stop in at a lending institution and "prequalify" for a loan - you'll get an idea of where you stand. Also, if you are in the market for a house, you should delay making any major purchases (like a car, furniture or appliances); on paper, your debt will be lower and your cash assets higher.

4 Ideas to Consider When House Hunting

2008-09-05T08:35:00.003-07:00

Like many Americans, my career has moved me across the country. I have purchased five homes in my life and with each purchase I have learned many lessons along the way. A home is certainly an investment, but it's also where you seek refuge after work and where you spend most of your personal time. When I was faced with another career move and another home purchase, I was on a mission to stay within my budget, find a location close to work, find a house that I could call home, and choose features wisely.

1. Staying Within my Budget: In the past, I was paying a monthly mortgage which consumed more than 30% of my salary. The problem was, the maintenance of the house also cost money and I didn't figure this into the equation. Cash flow definitely became a problem month to month. I vowed that my future mortgage payment would be less than 25% of my monthly income.

2. Find a Location Close to Work: Prior to this move, I was spending approximately one hour commuting to work. The two hour ritual, to and from, was not only stressful, it was taking time away from my personal life. In a week this accounted for ten hours a week (40 hours a month!). By finding a home within 10 miles of where I worked, I would have more time to enjoy my life away from work.

3. Find a House that I Could Call Home: Before looking for a home, I listed the criteria that the house must absolutely have before I would view it: the mortgage payment had to be within 25% of my salary, the location within 10 miles from work, a minimum of three bedrooms and two bathrooms, and a single family home that was less than ten years old.

4. Choose Features Wisely: Once I had ten homes that matched the criteria, I created a wish list of luxury items I wanted which included: a fireplace, a fenced yard, wood floors, a washer/dryer on the same floor as the master bedroom, and a two car garage. Within two weeks, I found the perfect home which satisfied everything on my list!

You can overcome the drudgery of house hunting by being very clear about what you're looking for before you start the process. By determining what a realistic housing budget is for you, what an acceptable commute to work is, clarifying what a home means to you and what amenities will make this house a home that you can enjoy for years to come, you will be a much happier homeowner.

Rent Or Buy? How Does Miami, Florida Residents Decide?

2008-09-05T08:35:00.001-07:00

At some point in life we are all faced with this question. With today's low rates and a lot of bargain priced properties in the Miami market, makes the dream of home ownership very attractive. The biggest concern for Miami first time home buyers is; can I afford to buy a home? Home ownership does come with a lot more cost when compared to renting such as: property taxes, higher insurance premiums, higher utility cost, and maintenance of the home, just to name a few. When something breaks there is no landlord to call to fix it, so you definitely need to have a good size emergency fund just for these expenses. Recommended $3000-$5000; unless you are handy around the house and can fix such things as the air conditioner when it break.

One of the first steps in preparing to become a home owner in Miami Florida is to pay off as much debt, with the goal of being debt free if possible, before taking on the expense of home ownership.

One of the main benefits of home ownership is that the interest portion of you monthly payments is tax deductible. Your mortgage payment is made up of principal and interest, the interest portion is the larger of the two mainly during the first few years of the loan and this is what you will write off at the end of the year, along with you property tax payments.

Unlike rent payments, your mortgage payment will not increase every year like your rent payment, as long as you get a fixed rate mortgage. However the expenses that you can expect to increase will be taxes and insurance and it varies depending on the area of the Miami that you live in. Since you live in Miami, an area that is prone for hurricanes you can see a spike in your insurance premium especially when there is an active hurricane season.

Once you have been pre-qualified to find out how much house you can afford, you will decide what area of Miami you want to live in. Other than price, other factors to take into consideration are taxes and insurance. I normally recommend that you escrow these payments with your mortgage payment, so that you can take care of it on a monthly basis, versus having to come up with a lump sum at the end of the year. It is not uncommon for new Miami home owner to fall behind on their taxes when they are not escrowed, in which the county will place a lien on your property. And as far as the insurance, if you don't keep your Miami property covered, the lender will force place insurance on your property which is normally about 3 times the amount you would normally pay and this will increase you monthly payment and may cause financial hardship.

Once everything is in order and you want to start house hunting in Miami, I recommend if you are a first time home buyer in Miami to contact a real estate agent, and they can walk you through the process and it is free professional advice, at least free to you, it is the seller for the home you want to buy that will pay them. Now you don't want to just get any agent, you need a Buyers Agent. Why? Because they will be working for you and not the seller, so they will have you interest in mind, where they can disclose things about the house to you that they wouldn't be able to do if they were representing the seller.

Don't try to time the market in Miami to see when it will hit the bottom, that's like trying to beat the stock market, and this can sometimes prove to be costly. In saying that, if you find a home that is reasonably priced and it's within you price range and you like it, go ahead and buy it. Real Estate has been known to increase in value over time.

Last but not least, always be upfront with your lender, this way neither you or your lender will have any surprises nor you won't waste any time or money in the home buying process. If they know all your issues upfront they can structure the loan for you and still get you in a good loan program tailored for you needs.

Beginning a Home Search For First Time Buyers

2008-09-05T08:34:00.002-07:00

To most of us the decision to purchase a home can be overwhelming. Once the decision has been made, these are some questions you might be asking yourself. Where do I start? Who can help me through this? What is a Realtor? Why do I need a Realtor? How do I decide what I want in a home? Where do I start? And before you know it, then the questions begin to loop and overlap because there is so much to consider. Which is why you should work with a company dedicated to helping you through the process one step at a time. Below is a list of the top 10 questions to help you start discovering your wants and needs in a home.

1. What amount would you feel comfortable paying each month in a mortgage payment?

2. What time line fits for moving into your new home?

3. Do you have a specific area of town you would prefer to live in? Think about being close to work, family, friends and anything you enjoy doing in your spare time.

4. Do you want a resale home or a new construction home? Home designs change with time and trends, new homes will have the most functional floor plans, but you might prefer a more traditional layout.

5. How many bedrooms will you be needing/wanting? Think about your home in terms of functionality and future use. Do you plan on working from home or turning one room into an office?

6. Do you want a large front or backyard? Do you have any pets to take into consideration? Older homes in more established neighborhoods often have large backyards and front yards, which affect the curb appeal of your home and the amount of time involved with maintaining the yard.

7. Do you prefer a single story home or a two story home? A two story home adds a bit of separation from the living area and the bedrooms, which can be a plus when guests come over. On the other hand, a two story home can be a problem if elderly parents plan on staying for any length of time.

8. Do you want a pool?

9. What does the ideal home look like?

10. What are your 5 must have features in your ideal home? i.e. Large Kitchen

Each question above can have a large impact on the home you purchase. Its important to discuss your options with friends, family and most importantly a professional Realtor. Once you have considered the questions above, work with your Realtor to develop and action plan for finding the home that is right for you.

Getting Started Buying Bank Owned Property

2008-09-05T08:34:00.001-07:00

Bank owned property could also be called REO. The reason a bank would own a property is because the homeowner lost the home to foreclosure and no one bought it at the auction. How do you find great deals on bank owned property?

In today's market with so many foreclosures it is easier to find nicer homes discounted at 25% to 35% off of retail price. You will still have to look around to find the truly great deals. There are a lot of people who have caught on to the discounted properties in good areas so those properties will move quickly.

Bank owned property can offer great discounts you will have to put a game plan together so you can move quickly to buy. Here is a game plan to find and buy bank owned property.

1) Get pre-qualified for a loan if you are looking for a bank owned property to live in. If you are an investor I am assuming you already have a lender letter or hard moneylender letter to provide to the bank.

2) Start getting the listings from different real estate agents that work in the area that you want to buy. Most agents will have access to the list of bank owned property that can be emailed to you every day.

3) Move quickly to view and put an offer on the house if you really like what you see. Property that is discounted does not sit around for too long act fast.

4) Make sure you get an inspection if you are a first time home buyer, these homes can have alot of damage that is why they are discounted. Investors will know what they are looking for and can get an inspector if needed.

5) Keep repeating the cycle of looking for homes until you find what you are looking for.

UK Rent to Buy House Market - The Lowdown

2008-09-05T08:32:00.000-07:00

Lease Options Applied to UK Residential Property Purchase

The current, uncertain state of the UK property is making many potential purchasers of residential property contemplate alternative ways of funding their property purchase. One type of transaction that some buyers are considering is a 'rent to buy house' purchase.

Rent to Buy House Purchase A 'rent to buy house purchase' scheme (also known as a 'residential lease purchase' or a 'rent-to-own purchase') is a short term lease on a residential property coupled with an agreement to purchase the property within a specified time limit.

Try Before You Buy Your Home!

The usual model for this type of rent to own lease purchase is as follows:

A potential purchaser will sign a contract to buy a residential property, within a fixed period of time, usually three years or less. When the initial contract is signed, the prospective buyer will pay an option fee (normally between one and five percent of the purchase price) which is credited towards the purchase of the property.

The prospective tenant-buyer will then pay the seller a monthly rental and, in some cases, an additional rent premium that is also credited towards the purchase of the property. If the potential buyer decides, for whatever reason, not to proceed with the house purchase, the option fee and any additional rent premium is forfeited to the property owner.

Lease to Buy House Purchase Price

The purchase price of the property is fixed at the time that the rent to buy house purchase agreement is signed by both parties. Depending on the state of the housing market, over time, this could favour either the vendor or the purchaser.

If property prices fall, this will usually favour the seller as he or she will obtain a higher price than might otherwise have been achieved. However, if the buyer thinks that a better deal can be found elsewhere, he could decide to forfeit the option fee and rent premium and walk away from the agreement.

A rising property market will favour the buyer as he or she will be able to buy the property at below the current market value. The only risk to the tenant-purchaser is if the seller tries to wheedle his way out of the deal on a technicality and may even attempt to have the potential purchaser evicted. Therefore, it is essential that sound legal advice is obtained by the buyer and the lease purchase contract is scrutinised in great detail in order to ensure that no potentially serious loopholes exist in the agreement contract.

Rent to Buy House Purchase Details

Both the selling price of the property and the monthly rent to be charged are negotiated between the vendor and the prospective purchasers and so depend on the state of the housing market at the time that the agreement is concluded.

In addition, the purchaser can enter into a rent to buy house purchase and obtain the right to buy the property without having to wait for mortgage finance to be obtained, before proceeding with the purchase.

As a general rule, buyers prefer a longer option period whereas sellers are normally keen to complete a sale as speedily as possible. A long option period gives the purchaser more time to clear existing debts and to put mortgage funds in place. However, if the financial climate becomes difficult and the buyer is unable to raise sufficient mortgage finance to proceed with the purchase, then there is a serious risk of losing the option fee and any rent premium that has already been paid.

Rent to Buy Option Fees & Rent Premiums

Vendors and purchasers have different perspectives on option fees and rent premiums.

To the seller, the payment of the option fee and rent premium gives a strong indication that the buyer is serious about completing the purchase of the rent to buy property. Even if the purchase falls through, the seller will receive monetary compensation in the form of the option fee and rent premium that have already been paid.

To the buyer, the option fee and rent premium are being put towards the purchase of the property, thus ensuring that they will ultimately be able to proceed with the purchase and could help to reduce the size of the mortgage required to conclude the purchase.

Rent to Buy House Market - The Way Forward

Although 'try before you buy' property purchases are relatively uncommon in the UK, at present, there is every likelihood that this method of property purchase will increase in popularity.

Thinking About Purchasing a Home?

2008-08-26T08:51:00.002-07:00

If you have ever thought about purchasing a home, NOW IS THE TIME TO DO IT! Interest rates are low and so are prices. Neither will stay down for long.

100% financing is no longer available but you can get a gift or put as little as 3% down. Sellers are willing to pay all of the buyers closing costs just to get out of the home. Many buyers purchase their own home with a monthly pay less than they are paying for rent. Here are a couple of questions to ask yourself to see if you are ready to buy.

1. Do I have at least two months of rent saved in case of an emergency? Open any newspaper or listen to any newscast and you'll hear about all the Foreclosures occurring. The main reason people are losing their homes is they have not been able to put aside reserves. It was hard to do when prices and rates were high. Knowing all the costs associated with purchasing a home is the first step.

2. Do I have a stable job and income? Stable employment is very important now. Lenders want to make sure their clients will be able to meet their obligations. Getting a new job that pays more is a good reason many decide to purchase. Having sufficient income to cover your monthly obligations is the most important factor in getting financed. There are very few programs available today for Stated or Limited Income Documented borrowers.

3. Is my credit good? Notice I didn't say GREAT or Excellent. FHA offers competitive rates and programs for good credit. Prior bankruptcies, foreclosures and judgments will create obstacles but not barricades. Check your credit before you sign a contract http://www.annualcreditreport.com is a free service where you can investigate your credit.

If your answered yes to all three questions, don't wait! Conditions like this will only happen a few times in your lifetime. If you answered no, with the right guidance and coaching you could be in a good position with in a few months.

How to Buy a Home If You Have Bad Credit

2008-08-26T08:51:00.001-07:00

There are lots of reasons today that many people find themselves in a situation in which their credit has suffered. And this has forced many people to end up renting a home, thinking that they cannot buy a home.

If you find yourself in this situation, let me show you how you can buy your own home, fix your credit and stop wasting your money on rent. Most buyers have never heard of rent to own homes. This is often the best way for many to buy a home and build equity. Here is how it works.

The best way to get started is to contact a company that specializes in the rent to own process. These companies are usually not realtors. But they often either have a list of available homes or can even take your wishes and go find a home for you. Look for companies that will work with you to get qualified for a mortgage by helping you improve your credit score. Don't work with someone who just wants to take your money without assisting you in actually buying the home.

Once you have found a company you feel comfortable with and have found a home that you like, you first pay a nonrefundable option fee that will be applied to the final purchase price of the home. You then rent the home for a year or two, while you work with your rent-to-own company to improve your credit and get approved for a mortgage to buy the home.

Just note that it is important to work with a rent-to-own company has relationships with a large number of banks and mortgage companies so you have the best programs and more options available to you.

As soon as you get your mortgage approval while working with your rent-own-company you can, you can then buy the home at the previously agreed upon price. You now own your home, you have improved your credit and have had help getting there. And you got to move a lot sooner.

As you can see, a rent-to-own arrangement is perfect for people with less than perfect credit who want who want to stop throwing their money away month after month by renting an apartment or house, and start building equity by purchasing a home of their own.