Recent Posts: Home Buying

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How to Finance a Fixer-Upper.

The FHA 203(k) program is a loan product designed to help owner-occupants remodel a home. Available when purchasing or refinancing a home, it wraps the purchase/refinance and rehabilitation costs into a single mortgage. To qualify for the loan, the total value of the property must fall within the FHA mortgage limit for the area. There […]

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Is Your Home “Feng Shui”?

Feng shui is a Chinese philosophy that has the goal of achieving an auspicious and harmonious environment. It is important to Chinese-Americans, with 86% of those surveyed saying that feng shui will play a role in a future home-buying decision, and 79% saying they would be willing to pay more for a home that has […]

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How to Assess the Cost of a Fixer-Upper, Part 2.

1. Check permits and their cost. Find out if the work to be done requires a permit and how much that permit costs. Factor the cost, time and aggravation of permits into your plans. 2. Determine whether you will supervise subs or hire a general contractor to do so. If you’re not going to hire […]

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How to Assess the Cost of a Fixer-Upper, Part 1.

When you buy a fixer-upper property, follow these tips to avoid getting in a financial fix: 1. Get Inspections. These are key to determine whether a fixer-upper is worth it. A home inspector can uncover hidden issues in need of replacement or repair, such as non-working components and structural problems. A termite inspection and a […]

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Preparing For Your Move, Part 5.

Moving Day Tips. Color Code: As well as labeling, assign each room a color and use coordinating colored duct tape on the top and sides of boxes so that they can be identified when stacked. Fill Space: To prevent damage, use socks or rags to fill in ‘dead air’ space, especially in and around breakables […]

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Preparing For Your Move.

Part 4: Things Not to Pack. Federal law bans moving companies from transporting “hazardous materials”. They also will refuse propane and oxygen tanks, weed killer and pesticides, gasoline tanks, ammunition, batteries, charcoal, pool chemicals, liquid bleach and nail polish. Household plants and perishable food items also can’t be moved, and often items like lawn and […]

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What Age Group Buys the Most Homes?

According to the NAR Profile of Home Buyers and Sellers, Millennials are the largest share of recent home buyers at 36%, with 65% of them being first-time buyers. Gen Xers are 26% of recent home buyers, with younger Baby Boomers coming in at 18%. Older Baby Boomers typically move the longest distance at a median […]

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Do You Have an Easement?

Part 1 – What are They? An easement is a permanent right of one person to use another’s real estate for some specific use. The area covered by the easement is typically a portion of a property, the area of which is calculated by a surveyor and depicted on a recorded document that creates it. […]

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Can a Buyer Assign its Rights?

What if you sign a contract to buy a home but then don’t want to, or can’t, close? Can you designate someone to take over the sale for you? Under ordinary principles of contract law, every contract is assignable unless prohibited, so you should be able to. Some contracts will allow assignment but seller approval […]

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Preparing For Your Move, Part 2.

Get an On-Site Estimate. The cost of a move is primarily determined by three factors: distance, weight, and extra services rendered. To get an accurate number, The Move Advocate strongly urges transferees to obtain an on-site survey. Having the mover come to your home will result in a more accurate estimate of the amount and […]

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Don’t Forget New Homes.

RL Brown Housing Reports has calculated the average new home closing price in January at $407,736. That means new home prices in the Phoenix metro area have rose only by an average of $5,000 over the last 12 months – while resale homes have increased around $30,000 during that time. This makes new homes a […]

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There’s More than the Contract, Part 3.

As well as competent preparation of the contract and supervision of the escrow, buyers and sellers need guidance. What is essential is knowledge of all of the options, so clients can make informed, reasonable business decisions. In other words, the client has many choices, so the most important job of a licensee is to educate […]

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There’s More Than a Contract Involved in a Sale, Part 2.

The work required in the purchase of a home involves much more than getting a signed contract. There are potentially several disclosure issues and documents that must or should be supplied by a seller. So what’s included and excluded can be vital. There are also the all important post-contract and escrow issues. Who is going […]

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Why Buy a Home Now?

First of all, interest rates are expected to continue to rise. Plus inflation may also come back long term. And more unfavorable laws that reduce the advantages of buying could be enacted (minor tax law changes already came into effect 1/1/18). If so, buying a home and financing it with low rates allows you to […]

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Reject dual agency.

Single agent dual agency allows one agent to represent both the buyer and seller at the same time. That means the agent is not required to put your interests first. So dual agency is dangerous for you, as it shortchanges both buyer and seller. But its good for agents, as it allows them to collect […]

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