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If the thought of buying a Lakewood Ranch home or any home in 2011 has even so much as flitted through your mind, here are six New Year’s Resolutions you should consider making:
1. Review your credit reports. To determine the interest rate and terms of your mortgage, lenders pull credit scores from each of the three credit reporting bureaus: Equifax, Experian and Trans-Union. You need to go through all three credit reports and dispute any credit report errors.
2. Establish a good credit rating. To take advantage of today's low interest rates, your credit score should be as high as possible. To improve your credit rating, fix all errors in your credit reports and practice good credit behavior by paying your bills on time and in full each month.
3. Find out how much Lakewood Ranch home you can afford to buy. To determine this, you need to know how much money you have for a down payment and how much money you can borrow. The best way to know how much you can borrow is to get pre-approved for a loan.
4. Shop around for a mortgage....
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Frequently, there are news stories that impact our Lakewood Ranch real estate market. Here are two I want to share with you this month:
Rising Interest Rates Could Get Buyers Moving
Rising interest rates may finally push Lakewood Ranch real estate buyers off the fence and into the market.
In December, after President Obama agreed to extend tax cuts for two years, the financial markets indicated this event would most likely push mortgage interest rates higher.
Analysts predict that buyers will move quickly when it looks like rates are going up and are unlikely to come down. "Once people see this might actually be the bottom, they’ll go for it," says Paul Dales, U.S. economist at Capital Economics Ltd.
For an example of interest rate increases, note what happened in December, 2010.
· On December 2, the 30-year fixed interest rate hovered around 4.46 percent.
· One week later, on December 9, it was up to 4.61 percent.
· When I checked on December 26, the 30-year fixed interest rate was up again to 4.875 percent.
National Foreclosure Rates Fall
Has the real estate market hit bottom? One sign that it has is RealtyTrac’s report that foreclosures...
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Trying to sell your Lakewood Ranch real estate in a slow market can be frustrating. You may find that it takes longer to sell and you can’t get as much money as you could during a booming market. However, you can’t believe all the hype about a sluggish real estate market. Do your research and separate the facts from the fiction.
Here are 3 myths and the facts behind the fiction:
1. You won’t get a decent price. Your Lakewood Ranch real estate will sell for whatever a buyer is willing to pay. A comparative market analysis
(CMA) shows you what other buyers spent on property like yours. Of course, if you bought your home when values were up, you may not get the return on your investment you’d hoped for. However, most sellers get a fair price and some make a profit in a slow market.
2. Your Lakewood Ranch real estate will stay on the market too long. While it’s true that real estate tends to take longer to sell during a slow market, it’s not impossible to sell. People still buy in slower markets. If your home is ...
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De-cluttering your Lakewood Ranch home is an important part of preparing it for sale. Buyers want to be able to imagine themselves and their belongings inside your home. However, this idea isn’t limited to the inside of your home. It also applies to your garage.
Cluttered, over-crowded garages turn buyers away. Fortunately, sprucing up your garage is easier than you think. Here are some tips to get you started.
1. Start with a list. If you’re like most people, you probably don’t even know what’s inside your garage. Take a pencil and paper and walk through your garage, writing down everything you see. You don’t need a detailed list. For example, screws, bolts, and nails can be listed together as hardware.
2. Reduce the list. Cleaning your garage means getting rid of anything you no longer need or want. The general rule is that you can toss any item that you haven’t used in 1 year. If you don’t use it, it’s only taking up space. Give it away, trash it, or recycle it.
3. Group related items. It just makes sense to store items together. If all your camping supplies...
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You have a for sale sign in front of your Lakewood Ranch home. Even though the real estate market is slow, you still see other houses being bought. What’s the matter with yours? Why is your home still sitting on the market? Is it you? Is it your home? Is it your agent? It may just be your online marketing (or lack of it).
Do Upload Photos
The internet is one of most popular places for homebuyers to do their initial shopping. If your Lakewood Ranch home isn’t online, it needs to be there. If it is online, it needs pictures. If it has pictures, pay attention to the following issues:
Dark or grainy pictures
Images with closed windows, drapes and/or blinds
Photos of rooms with clutter
Only one photo, and it’s of the front of the house
Images that haven’t been adjusted to look their best online
Finally, ask yourself, if a picture says a thousand words, what are the photos of my home saying? If your pictures don’t look friendly and inviting, and if they don’t make your home look it’s very best, you might as well take your home off the market.
Do Add Data
Don’t forget to...
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Is a home warranty necessary when you buy a home? Isn’t it just an extra expense added on to an already expensive purchase? Not exactly. There are a few things to consider before deciding yes or no.
Type of Home
For example, the type of home you plan to buy makes a difference:
Are you buying a newly constructed Lakewood Ranch home? Any newly built home should already be covered by the builder warranty, at least for a specific timeframe.
Are you buying an older home? If so, a warranty might be the right thing to have.
Are you buying a foreclosure? In this case, a home warranty is an excellent idea.
Homeowners Insurance vs. Home Warranty
Homeowners insurance is different from a home warranty. Insurance covers the home if there’s a natural disaster, fire or theft. On the other hand, a home warranty typically covers:
Air conditioning
Plumbing
Heating
Wiring
Dishwashers
Stoves
As with most contracts, it’s important to read the fine print of any home warranty before buying. Some may only cover an appliance if you pay an extra premium. As well, things like air conditioners may be pro-rated, where the payable amount is based on how...
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Are you tired of looking for a home for sale in Lakewood Ranch? Have you found any that had everything you wanted, but cost too much? Are you dissatisfied with the selection?
A while back, I had a buyer tell me he didn’t want to spend more than $100,000 on a Lakewood Ranch home for sale. He gave me a long list of features he felt the house must have - a pool, a big kitchen, four bedrooms, etc. With it being his market (a buyer’s market), he said, I should have no problems finding a home with those qualifications and that price. He refused to budge on any of it.
You May Have to Compromise
The buyer had read tons of material about it being a buyer’s market. Prices, while not particularly great for the sellers, are great for the buyers. “Thar’s gold in them thar hills.” In other words, there are deals to be had.
It’s all true, but there are limitations to what your money can buy, even now. If you’re getting frustrated, it’s time to ask yourself, “Do I really need a pool, or four bedrooms?”
The legitimate question in all this. Can you compromise? If you want a pool,...
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You’ve repaired, de-cluttered, deep cleaned and polished your Lakewood Ranch home for sale until it shines. But how do you keep it that way when you and your family have to live in it every day?
Here are 5 tips to keep your Lakewood Ranch home for sale ready to show (without driving yourself crazy):
1. Decree some rooms off limits. There are a few obvious rooms that can easily be declared off limits such as the formal dining room and living room. But there are others you may not have considered. If you have 3 bathrooms, proclaim 1 or 2 of those bathrooms off limits. Have a guest room but no guest? Shut the door and forget it.
2. Hire a maid service. You may not be able to afford a cleaning crew on a regular basis, but to reduce your stress while your Lakewood Ranch home is for sale, consider hiring a housecleaner to come in once or twice a month.
3. Leave your shoes at the door. Sure, it’s inconvenient, but it really does keep your floors clean much longer which means less vacuuming, sweeping and mopping.
4. Clean as you go. Anytime you get something out, put it away when you’re...
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Buyers are becoming more concerned about their personal environment, from eco-friendly carpeting to energy efficient appliances. If you’re looking for an eco-friendly home for sale in Lakewood Ranch, but aren’t sure how to find it, here are a few tips on what to look for:
Indoor Air Quality (IAQ) – More builders are employing eco-friendly practices during construction. Those that do can qualify for the EPA Indoor airPlus designation. These homes are designed for better IAQ, which means a healthier home for you. Rest assured, if a builder meets this designation they’ll tell you about it. However, just in case – ask!
Energy Efficient – If it qualifies for the EPA Indoor airPlus designation, the home for sale in Lakewood Ranch will also be energy efficient. However, if you’re not looking at a newly built home, look for those homes that are Energy Star efficient. According to the Energy Star website, “These homes are at least 15% more energy efficient than homes built to the 2004 International Residential Code (IRC), and include additional energy-saving features that typically make them 20–30% more efficient than standard homes.”
Eco-friendly...
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The home buying process isn’t complete without a home inspection. Your real estate agent will mention it. The lender will ask about it. Even your closer will make sure the Lakewood Ranch home you’re purchasing had an inspection.
Home inspections are important. No matter how much you trust the seller, there are some things you need to know about your Lakewood Ranch home before you purchase it. While you’re not required to attend the inspection, it’s an excellent idea to do so.
So you’ll know what to expect, here are the basics that a typical home inspection covers:
· Appliances. You will know if the appliances are in working order.
· Electrical. The inspector makes sure the main panel, circuit breakers, lights, and outlets are working.
· Exterior. An inspector looks for defects on the outside of the home, such as problems with the wall covering, landscaping, trim, and exterior electrical outlets.
· Garage. You don’t have to worry about what the garage is hiding. You will know if the slab, walls, vents, and entries have any problems that need to be addressed.
· Home structure. The inspector checks the foundation, ceilings, floors, roof, and wall construction for any possible structural...
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