One of the first decisions you make when you begin to look a buying a home is whether to buy new or purchase an existing house. While there are some advantages to purchasing a resale home, here we will discuss many benefits of buying a new home.
1. New Home Pricing. Though the price of a new home may be higher than the price of an existing one, a new home is likely to need fewer repairs or replacements. Also, if you buy a new home in a desirable neighborhood or location, the value may increase even more and you will likely sell your home for a higher price than when you bought it if you decide to move.
2. A Well Planned Neighborhood. Builders incorporate desirable amenities such as recreation areas, neighborhood clubhouses, swimming pools, playgrounds, sidewalks, and paved trails into new communities. Do you seek to live among older residents, families with young children, or in an area that encourages an active lifestyle? New...
Buying a home is an emotional decision for most people. Whether to buy new or used has been a topic of discussion for years. While there are some advantages to purchasing a new home, here we will discuss many benefits of buying a resale home.
1. Existing features. Finished basements, water irrigation systems, fences. When you buy an existing home, you buy the extra improvements that have been made to the land and structures.
2. Land. New homes tend to be built on smaller lots. In some cases, home or garages can be too close for comfort to someone who likes their privacy. When you seek to purchase an older property, you can often find a home with a larger yard or even acreage.
3. Established neighborhoods. From their tall, mature, tree-line communities to the residents that have been living there for years, resale homes in established area have the benefit of long-term stability going for them. You can meet your...
Over the years we have helped hundreds of buyers
into homes and Bryan Stuckey with Inspecta Homes has been our inspector of choice. He recently did an inspection for a buyer of ours and in the process found one of the foundation walls to be slightly bowed. As any good inspector would do for their client, he recommended bringing in a foundation expert to take a second look and give an opinion. This situation is more common than you would think...the problem for our real estate team has been finding a company that can give an opinion at a reasonable cost. Complete Basement Systems has done numerous inspections of foundation walls for us and provides FREE estimates. We typically use Jon Ahern if at all possible. He is a true professional and gives great advice to our clients. They also deal with basements with water issues as well so look them up if you are having basement...
There is a collective sigh of frustration from home sellers
as they read about the latest Twin Cities real estate
report. But there is a proactive response that homeowners can take to improve their chances in today's market. Unless a house is categorized as a "fixer-upper" or is reduced in price for its "as-is" condition, sellers need to take advantage of the tools that are available to them and put them into practice.
In the world of real estate, the seller has control over two things:
- The price of the house
- The condition (appearance) of the home
PRICING YOUR HOUSE: Listen to your Realtor. They are the experts when it comes to the worth of your house. The average price of a home has fallen in the last couple of years, and what your house was worth in 2005 may be lower than what it is today. Barker & Hedges competitively price their listings...
When preparing your house for the real estate market, painting is an inexpensive way to make a huge improvement in your home. However, you must choose your colors wisely, because the color of a home's interior sets the atmosphere of a house.
Whether you are preparing your house for sale or just wanting a new look for your home, adding the right color could dramatically change they way your feel about your surroundings. Colors, like music, invoke an emotional reaction in people. Typically these reactions are:
- Reds (warm) --> passion and excitement. Reds are an excellent choice that adds elegance and sophistication to any room in your house.
- Blues (cool) --> calm and peace. Using blues in your room will promote feelings of nature (sky and water) which sets a relaxing tone.
- Yellow (warm) --> joy and light (sun). Yellows add a cheerful atmosphere into the room and is typically found in kitchens.
- Green (cool) --> restful...
Two years of turbulence in the real estate market and recent actions by the Federal Housing Authority has created a nearly ideal climate for house hunters in search of a bargain or their first home.
Twin Cities real estate
prices posted a decline of 12.5 percent in February — the steepest drop since the area's prices first started falling in late 2006. The metro's median sale price is now $195,060, the lowest it has been since May 2003.
Also, according to Minneapolis Area Association of REALTORS®, the number of homes for sale in the Twin Cities area continues to post record levels. At the end of February, there were about 8.72 homes to each expected buyer for the month of March.
With banks, Realtors, and home sellers facing this challenging environment, concessions are being made and prices are being lowered.
There is more! With the troubles that the subprime mortgage industry has been experiencing,...
As we mentioned before, curb appeal
is an important element when it comes to selling a home
. Many buyers won’t take a tour of the inside of a home if it doesn’t look great from the outside. Though this time of year yards are full of dirty snow and brown patches, that doesn’t mean you can’t improve the curb appeal of your home by sprucing up a bit.
To ensure even thawing of the ground and to prevent diseases like mold and fungus, remove snow piles or spread the snow evenly across the yard.
When the air is still cold and before trees have budded is the perfect time to prune if you didn’t during the fall.
As the snow disappears, clean any debris that may have accumulated over the winter months, such as items lost in between snow falls, litter, dead leaves, acorns, pinecones, etc. Don’t forget to clear the gutters of rubbish as well.
When the snow retreats,...
Home staging is the art of preparing your house for sale through color choices, furniture arrangement, and home accent placement. For some, the staging process can be overwhelming. By breaking staging concepts into layers, we can see how the individual steps help to create elegant rooms that buyers love.
If you are confused about staging your room, start with a clean palate in an empty room.
LAYER ONE: Wall Color - Select the proper wall color. The color you choose for the home's interior sets the atmosphere of the house. Soft neutrals help to set a relaxing tone, while colors promote different emotional responses. When selling, it is best to keep the walls neutral and add color through home accents and artwork.
LAYER TWO: Large Furniture and Rug Placement - After you painted with your new color, set your area rugs into place. Rugs define a space while adding an additional color element. Next, large furniture pieces should be moved...
Home staging is the hottest trend in real estate, because it works! But seller-be-ware, there are side effects to using staging techniques in your home. Watch for these warning signs:
HOME STAGING SIDE EFFECTS:
- Positive Buyer Feedback --> Staged homes feel well-maintained, clutter free and stylish. When using proper staging techniques, buyers can see the highlighted features of the house.
- Higher Asking Price --> Staged homes command top dollar offers. Buyers are willing to pay more for houses that portray the lifestyle they are looking for.
- Faster Sales Time --> Staged homes average 1/3 less time on the market than non-staged houses. The house pictured in the photo below was sold three days after it was staged! (March, 2008)
- Professional Images for Marketing Materials --> Staged homes have a professional appearance in photos. Most buyers will look online at photos first. Houses that are presented...
It is easy to become overwhelmed these days when it comes to buying a first home
. There are ways to prepare yourself ahead of time, though. The information below can help smooth your journey towards home ownership.
1. Review your credit. Mortgage lenders will be closely evaluating your credit and finances. Make sure that you know what is on your credit report first. Start by requesting a copy of your credit report from the big three credit agencies - Equifax, Experian and TransUnion. When you receive your report, review it carefully for mistakes. If you find an error, take corrective action by following the instructions the credit agency provides. The sooner the process starts, the better, as the investigation will take time.
2. Take steps to raise your credit score. First and foremost, this means paying every bill on time every month. After that, it means paying down as much of the debt you already have. Not only will this raise your credit...