Summer is finally here! Depending on your situation, that could mean a remodel, landscaping project, or maybe some old windows that are letting your air conditioning escape. Whatever the project, Nothnagle Home Services can do it all.
Through their partnership with trusted Rochester area contractors, service partners, and retailers, Home Services provides Nothnagle clients with home-related products and services before, during, and after their move.
Home Services does so much more than just providing moving services. There are service partners that specialize in whatever you may need. From paint, cleaning, interior decorating, roof repairs, mowing, pest removal, remodeling, trash/garbage pickup, home security, or heating/air conditioning, Home Services will help get the job done. A full list of our service categories can be found here.
Each one of our service partners provides some special benefit exclusively to Nothnagle clients who go through Home Services. Every partner is required to maintain a 95% satisfaction rate with our clients, so you can be sure you are getting the highest quality service. Take comfort in knowing the job will get done right. A full list of our service partners can be found here.
Take advantage of what Home Services can offer! Register now and get started.
Visit our Facebook page to stay up-to-date with our newest partners and special promotions!
Wednesday, June 29, 2011
Monday, June 27, 2011
Homeowner's Insurance: Too much, too little?
As a homeowner, homeowner's insurance is essential. Have you spent any time recently reviewing your policy? If not, maybe it's time, especially if it is around your renewal period.
Call your insurance agent and ask what type of policy you have if you are not certain. The most common and effective type is a "replacement cost" policy. This policy essentially covers the costs required to rebuild your home and replace your belongings. However, be aware that this does not cover additional things such as swimming pools and anything detached from the home itself. This also does not cover luxury items that require additional policies such as diamonds, furs and fine art.
Another type is an "extended" policy, which protects up to your policy limit plus an additional 20% for unexpected replacement costs.
A third type is "actual cash value", which does not necessarily means it covers what you spent. It takes depreciation into account and pays on what something is worth at the time of damage. A television that you spent $1,500 on two years ago is probably only worth about $750 now, so that would be your coverage.
Once you know what type of insurance you have and the meanings of each, think about what YOU need. The most important thing to keep in mind is, how much would it cost to rebuild your home today, which is the amount you should aim to be insured for. If your home is assessed at $175,000, you should get coverage for around $200,000, taking into account your belongings and construction costs. Upping your level of coverage may cost you less than you think. For example, a policy could cost $250 for the first million dollars in coverage, but adding a second million could only increase the premium by up to $15.
The higher you deductible is, the lower your premium. Most experts agree that deductibles should be around $500 or more to lower your yearly costs and to be used only for major damages. It is not wise to have a low deductible and use it towards getting a window fixed, which should come out of pocket.
Make sure to ask your provider about group discounts such as being a member of AARP or being a state employee. You can also obtain discounts for safety precautions such as an alarm system or deadbolt.
Call your insurance agent and ask what type of policy you have if you are not certain. The most common and effective type is a "replacement cost" policy. This policy essentially covers the costs required to rebuild your home and replace your belongings. However, be aware that this does not cover additional things such as swimming pools and anything detached from the home itself. This also does not cover luxury items that require additional policies such as diamonds, furs and fine art.
Another type is an "extended" policy, which protects up to your policy limit plus an additional 20% for unexpected replacement costs.
A third type is "actual cash value", which does not necessarily means it covers what you spent. It takes depreciation into account and pays on what something is worth at the time of damage. A television that you spent $1,500 on two years ago is probably only worth about $750 now, so that would be your coverage.
Once you know what type of insurance you have and the meanings of each, think about what YOU need. The most important thing to keep in mind is, how much would it cost to rebuild your home today, which is the amount you should aim to be insured for. If your home is assessed at $175,000, you should get coverage for around $200,000, taking into account your belongings and construction costs. Upping your level of coverage may cost you less than you think. For example, a policy could cost $250 for the first million dollars in coverage, but adding a second million could only increase the premium by up to $15.
The higher you deductible is, the lower your premium. Most experts agree that deductibles should be around $500 or more to lower your yearly costs and to be used only for major damages. It is not wise to have a low deductible and use it towards getting a window fixed, which should come out of pocket.
Make sure to ask your provider about group discounts such as being a member of AARP or being a state employee. You can also obtain discounts for safety precautions such as an alarm system or deadbolt.
Saturday, June 25, 2011
Nothnagle.com Just Got Better!
Nothnagle Realtors has just updated and enhanced their website, Nothnagle.com, the region’s top real estate website. Enhancements include an easier quick search, data about market trends, community demographic information and more social networking capabilities.
There are more features and resources for buyers, sellers and current homeowners to offer a “one-stop shopping” experience. In addition, the entire site has been given a brand new look for optimal navigation and ease of use.
The updated site now allows users to narrow search results to meet specifications as well as provide valuable information on the buying and selling trends over the last five years by county across the upstate region.
Within the upgraded buyers section, in-depth information and statistics are now available for each community including age & education demographics, housing inventory, surrounding businesses, average rental prices and crime statistics. The home page also displays a live stream of new listings as they come on to market.
Nothnagle.com has won numerous awards including being ranked 8th in “The Top Ten Real Estate Brokerage Websites in America,” by 1000watt Consulting and RealTrends. Every aspect of the site has been reviewed to ensure that the highest quality of resources, tools and information is available to consumers.
“With today’s ever changing technology and 90% of people using the Internet in their home search, it is of utmost importance to stay current with improvements to engage the consumer and deliver the best experience possible. We offer something for everyone, buyers and sellers as well as existing homeowners with no intention of moving in the immediate future,” said Armand D’Alfonso, President & CEO of Nothnagle Realtors.
There are more features and resources for buyers, sellers and current homeowners to offer a “one-stop shopping” experience. In addition, the entire site has been given a brand new look for optimal navigation and ease of use.
The updated site now allows users to narrow search results to meet specifications as well as provide valuable information on the buying and selling trends over the last five years by county across the upstate region.
Within the upgraded buyers section, in-depth information and statistics are now available for each community including age & education demographics, housing inventory, surrounding businesses, average rental prices and crime statistics. The home page also displays a live stream of new listings as they come on to market.
Nothnagle.com has won numerous awards including being ranked 8th in “The Top Ten Real Estate Brokerage Websites in America,” by 1000watt Consulting and RealTrends. Every aspect of the site has been reviewed to ensure that the highest quality of resources, tools and information is available to consumers.
“With today’s ever changing technology and 90% of people using the Internet in their home search, it is of utmost importance to stay current with improvements to engage the consumer and deliver the best experience possible. We offer something for everyone, buyers and sellers as well as existing homeowners with no intention of moving in the immediate future,” said Armand D’Alfonso, President & CEO of Nothnagle Realtors.
Thursday, June 23, 2011
Price is the Secret to Selling
According to several real estate professionals in the Rochester area, pricing your home right is what it will take to get it sold. The current market is more in favor of buyers than sellers, which is why they are not rushing to buy and are instead looking for the best deal. Now that all of the tax credits have been over for nearly a year, the panic to buy is not as strong, but there are definitely still buyers looking.
When listing your home, take into consideration the competition and don't concentrate on your assessed value. Chances are, your home will sell slightly under what it is assessed for, but the Rochester market is still strong compared to other areas in the country.
Other important factors to pay attention to are that buyers not only want a great deal, they want something that is move in ready with updates. Small cosmetic things like fresh paint, new cabinet hardware and fixtures can make a big difference to buyers, although it is relatively inexpensive and easy to do.
When listing your home, take into consideration the competition and don't concentrate on your assessed value. Chances are, your home will sell slightly under what it is assessed for, but the Rochester market is still strong compared to other areas in the country.
Other important factors to pay attention to are that buyers not only want a great deal, they want something that is move in ready with updates. Small cosmetic things like fresh paint, new cabinet hardware and fixtures can make a big difference to buyers, although it is relatively inexpensive and easy to do.
Tuesday, June 21, 2011
Tax Credit for Energy Efficient Window Coverings
Your insulated window coverings, such as blinds and drapes, may be eligible for a $500 tax credit. Some companies, such as Hunter Douglas, say certain coverings they make are eligible and issue a manufacturer’s certification statement. However, some tax experts believe that because these coverings don’t provide insulation as their main purpose, the IRS will eventually prohibit these certifications.
If a company provides a certification statement, your tax credit should be approved. Even if the IRS later denies the company’s statement later, it’s unlikely you will lose your credit retroactively.
Window coverings that currently may qualify for the federal tax credit include:
Honeycomb shades
Plantation shutters
Draperies, especially those identified as “insulated drapes”
Window films with insulating properties
Always insist on a manufacturer’s certification for energy-efficient window coverings you purchase. Don’t assume that if one company is giving a manufacturer’s certification, a similar product from another company is also covered. If the IRS forces a company to withdraw a product’s certification and you buy it after the cancellation, you can not rely on the fact that it was once covered by a certification and claim the tax credit.
You won’t have to submit the certification statement with your tax return, but you will need it and a copy of the sales receipt for your records. Keep your statement with your important papers for the year, and file IRS Form 5695 with your tax return.
If a company provides a certification statement, your tax credit should be approved. Even if the IRS later denies the company’s statement later, it’s unlikely you will lose your credit retroactively.
Window coverings that currently may qualify for the federal tax credit include:
Honeycomb shades
Plantation shutters
Draperies, especially those identified as “insulated drapes”
Window films with insulating properties
Always insist on a manufacturer’s certification for energy-efficient window coverings you purchase. Don’t assume that if one company is giving a manufacturer’s certification, a similar product from another company is also covered. If the IRS forces a company to withdraw a product’s certification and you buy it after the cancellation, you can not rely on the fact that it was once covered by a certification and claim the tax credit.
You won’t have to submit the certification statement with your tax return, but you will need it and a copy of the sales receipt for your records. Keep your statement with your important papers for the year, and file IRS Form 5695 with your tax return.
Sunday, June 19, 2011
The Seemingly Impossible Loan Process
If you have gone through the experience of taking out a loan for a mortgage recently, it may have seemed like a never ending process. There is the constant need for more documentation, up to date bank statements, letters of explanation, etc. You might have even felt like the company you were applying through didn't want to approve your loan, however that is not true at all.
First of all, mortgage companies and banks can not stay in business if they do not close loans. They very much want to approve your loan, but due to the past few years of lending to bad borrowers, they must scrutinize everything: income, credit, assets, appraisals, debt, etc. Lenders in the past got too liberal by not looking deep enough into borrower's ability AND willingness to pay back their loan. The past has forced them to be conservative today.
That being said, your lender has plenty of money to lend at today's amazing rates if you can prove that you are willing and able to pay them back.
First of all, mortgage companies and banks can not stay in business if they do not close loans. They very much want to approve your loan, but due to the past few years of lending to bad borrowers, they must scrutinize everything: income, credit, assets, appraisals, debt, etc. Lenders in the past got too liberal by not looking deep enough into borrower's ability AND willingness to pay back their loan. The past has forced them to be conservative today.
That being said, your lender has plenty of money to lend at today's amazing rates if you can prove that you are willing and able to pay them back.
Friday, June 17, 2011
How To Budget for Remodeling
Is there a remodeling project that you have been putting off? Maybe it's revamping a bathroom, adding a breakfast bar or replacing carpet with hardwoods? Knowing what you want is the easy part, but figuring out the budget isn't always easy. Here are the steps you should take when considering taking on a remodeling project:
Estimate what the costs will be. Generally when doing major upgrades like an addition or bathroom remodel, the costs will be between $100-$200 per square foot. You can also look at Remodeling Magazine's 2010-11 Cost vs. Value Report, which will give you the national average on 35 common projects.
Once you have a general idea of what the costs will be, itemize everything that you think you will need. If it is a kitchen remodel, go through catalogs, go to home improvement stores to get ideas and price out things like cabinets, faucets, appliances. Next, talk to your friends, neighbors, and co-workers to get names of recommended contractors.
Now that you have an estimate of what the costs will be and a list of what you want, do you have the money? If you have cash saved up, then it is a decision of if you want to spend it or not. If you do not have cash, then consider taking out a home equity line of credit. The best type is called a HELOC, which is secured by your home equity, qualifies for a lower rate and the interest can be deducted from taxes. A HELOC comes with a checkbook that can be used to withdraw money as needed up to the maximum amount borrowed. However, keep in mind that the minimum payment is just that month's interest with no principal included. Make sure to take into account a payment plan when taking a HELOC loan, otherwise you could find yourself with bad debt.
If you have decided that it is feasible to move forward, start calling the recommended contractors for actual quotes. Give them your project description and the itemized lists of what will need to be purchased. Ask to see some of their previous work and testimonials. Take your overall impression and their monetary quotes into account when making a discoing, but do add between 15%-20% for unforeseen problems and changes that could occur. If your budget doesn't have room for that, it is time to prioritize.
Your contractor will give you an itemized bid and you can ask for suggestions of ways to cut back if you find you are over budget. If it is a kitchen remodel, maybe replace appliances over time. Other possibilities include waiting until the slower winter season or doing some things yourself. Once you get your plan to work, you can get started!
Estimate what the costs will be. Generally when doing major upgrades like an addition or bathroom remodel, the costs will be between $100-$200 per square foot. You can also look at Remodeling Magazine's 2010-11 Cost vs. Value Report, which will give you the national average on 35 common projects.
Once you have a general idea of what the costs will be, itemize everything that you think you will need. If it is a kitchen remodel, go through catalogs, go to home improvement stores to get ideas and price out things like cabinets, faucets, appliances. Next, talk to your friends, neighbors, and co-workers to get names of recommended contractors.
Now that you have an estimate of what the costs will be and a list of what you want, do you have the money? If you have cash saved up, then it is a decision of if you want to spend it or not. If you do not have cash, then consider taking out a home equity line of credit. The best type is called a HELOC, which is secured by your home equity, qualifies for a lower rate and the interest can be deducted from taxes. A HELOC comes with a checkbook that can be used to withdraw money as needed up to the maximum amount borrowed. However, keep in mind that the minimum payment is just that month's interest with no principal included. Make sure to take into account a payment plan when taking a HELOC loan, otherwise you could find yourself with bad debt.
If you have decided that it is feasible to move forward, start calling the recommended contractors for actual quotes. Give them your project description and the itemized lists of what will need to be purchased. Ask to see some of their previous work and testimonials. Take your overall impression and their monetary quotes into account when making a discoing, but do add between 15%-20% for unforeseen problems and changes that could occur. If your budget doesn't have room for that, it is time to prioritize.
Your contractor will give you an itemized bid and you can ask for suggestions of ways to cut back if you find you are over budget. If it is a kitchen remodel, maybe replace appliances over time. Other possibilities include waiting until the slower winter season or doing some things yourself. Once you get your plan to work, you can get started!
Wednesday, June 15, 2011
New Management for Brockport, Chili-Ogden & Naples Branches
Last week, Armand D'Alfonso, President & CEO of Nothnagle Realtors announced three new branch managers.
John Majchrzak has been promoted Branch Manager of Nothnagle’s Brockport office. John joins Brockport after nine years as a salesperson with Nothnagle’s Chili-Ogden branch.
Joanne Bocach has been promoted Branch Manager of Nothnagle’s Chili-Ogden office. Joanne joined Nothnagle in 2010 and has over 10 years real estate experience. She previously owned and operated Premier Real Estate Agency in Spencerport, NY.
Gail Vanderbrook has been appointed Branch Manager of Nothnagle’s Naples office.
Gail has been with Nothnagle for three years as Branch Manager of the Canandaigua and Newark offices. She will continue managing both locations in addition to Naples.
Congratulations to John, Joanne & Gail.
John Majchrzak has been promoted Branch Manager of Nothnagle’s Brockport office. John joins Brockport after nine years as a salesperson with Nothnagle’s Chili-Ogden branch.
Joanne Bocach has been promoted Branch Manager of Nothnagle’s Chili-Ogden office. Joanne joined Nothnagle in 2010 and has over 10 years real estate experience. She previously owned and operated Premier Real Estate Agency in Spencerport, NY.
Gail Vanderbrook has been appointed Branch Manager of Nothnagle’s Naples office.
Gail has been with Nothnagle for three years as Branch Manager of the Canandaigua and Newark offices. She will continue managing both locations in addition to Naples.
Congratulations to John, Joanne & Gail.
Monday, June 13, 2011
Just the Facts
We understand that many consumers are skeptical about the real estate market today because of the mixed reports. Of course buying a home is situational and a personal decision, but we are here to report the FACTS from the experts.
According to Jim Woods of the Wall Street Journal, he says "Yes, mortgage rates still are near historical lows, but if we see these rates rise, then the cost of a new home could climb significantly. So, now could really be the best time to pull the trigger on that home purchase - and it could also be your best investment right now".
According to Shawn Tully, senior editor for Fortune, "Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing."
He also said "Let's state it simply and forcibly, Housing is back".
Neither of the two above authors are known for positively promoting the real estate industry, other than writing for esteemed sources. They both came to the same conclusion.
The New York Times best selling author Adam Leitman Bailey, author of "finding the Uncommon Deal" believes that this is the best time in modern real estate history to be buying a home.
That being said, maybe it is time to listen to the facts.
According to Jim Woods of the Wall Street Journal, he says "Yes, mortgage rates still are near historical lows, but if we see these rates rise, then the cost of a new home could climb significantly. So, now could really be the best time to pull the trigger on that home purchase - and it could also be your best investment right now".
According to Shawn Tully, senior editor for Fortune, "Forget stocks. Don't bet on gold. After four years of plunging home prices, the most attractive asset class in America is housing."
He also said "Let's state it simply and forcibly, Housing is back".
Neither of the two above authors are known for positively promoting the real estate industry, other than writing for esteemed sources. They both came to the same conclusion.
The New York Times best selling author Adam Leitman Bailey, author of "finding the Uncommon Deal" believes that this is the best time in modern real estate history to be buying a home.
That being said, maybe it is time to listen to the facts.
Saturday, June 11, 2011
Nothnagle.com Just Got Better!
Nothnagle Realtors has just updated and enhanced their website, Nothnagle.com, the region’s top real estate website. Enhancements include an easier quick search, data about market trends, community demographic information and more social networking capabilities.
There are more features and resources for buyers, sellers and current homeowners to offer a “one-stop shopping” experience. In addition, the entire site has been given a brand new look for optimal navigation and ease of use.
The updated site now allows users to narrow search results to meet specifications as well as provide valuable information on the buying and selling trends over the last five years by county across the upstate region.
Within the upgraded buyers section, in-depth information and statistics are now available for each community including age & education demographics, housing inventory, surrounding businesses, average rental prices and crime statistics. The home page also displays a live stream of new listings as they come on to market.
Nothnagle.com has won numerous awards including being ranked 8th in “The Top Ten Real Estate Brokerage Websites in America,” by 1000watt Consulting and RealTrends. Every aspect of the site has been reviewed to ensure that the highest quality of resources, tools and information is available to consumers.
“With today’s ever changing technology and 90% of people using the Internet in their home search, it is of utmost importance to stay current with improvements to engage the consumer and deliver the best experience possible. We offer something for everyone, buyers and sellers as well as existing homeowners with no intention of moving in the immediate future,” said Armand D’Alfonso, President & CEO of Nothnagle Realtors.
There are more features and resources for buyers, sellers and current homeowners to offer a “one-stop shopping” experience. In addition, the entire site has been given a brand new look for optimal navigation and ease of use.
The updated site now allows users to narrow search results to meet specifications as well as provide valuable information on the buying and selling trends over the last five years by county across the upstate region.
Within the upgraded buyers section, in-depth information and statistics are now available for each community including age & education demographics, housing inventory, surrounding businesses, average rental prices and crime statistics. The home page also displays a live stream of new listings as they come on to market.
Nothnagle.com has won numerous awards including being ranked 8th in “The Top Ten Real Estate Brokerage Websites in America,” by 1000watt Consulting and RealTrends. Every aspect of the site has been reviewed to ensure that the highest quality of resources, tools and information is available to consumers.
“With today’s ever changing technology and 90% of people using the Internet in their home search, it is of utmost importance to stay current with improvements to engage the consumer and deliver the best experience possible. We offer something for everyone, buyers and sellers as well as existing homeowners with no intention of moving in the immediate future,” said Armand D’Alfonso, President & CEO of Nothnagle Realtors.
Thursday, June 9, 2011
8 Unexpected Energy (and Money) Savers
Here are a few suprising and simple ways to cut your energy bill this season.
Put lamps in the corner: You can switch to a lower wattage bulb in a lamp or lower its dimmer switch and not lose a noticeable amount of light. It's all about placement. When a lamp is placed in a corner, the light reflects off the adjoining walls, which makes the room lighter and brighter.
Switch to a laptop: Laptops use one-third the power of a typical desktop when in active mode. Annually, a laptop could save you about $19 compared with a desktop.
Choose an LCD TV: If you're among those considering a flat-screen upgrade from your conventional CRT TV, choose an LCD screen for the biggest energy save. Opting for an LCD TV will cost about $8 per year to operate - for an annual savings of about $42 over a plasma screen. Of course, you will ant to weigh your decision against the cost of a new TV.
Give your water heater a blanket: Your water heater could benefit from a blanket in the winter, especially if it lives in an unheated space. A fiberglass insulating blanket can cut heat loss by 25% to 40% and save 4% to 9% on the average water-heating bill of $308. Be sure to do this safely and correctly to avoid damaging your water heater. Read more about it here.
Turn off the burner before you're done cooking: When you turn off an electric burner, it stays hot for quite a while. Use that to your advantage by shutting off the burner early and using the residual heat to finish up your dish. The same technique can be applied to the oven. The savings can add up to a couple bucks every month.
Spin laundry faster: Good dryer efficiency starts in the clothes washer. The faster your washing machine can spin excess water out of your laundry, the less you'll need to use your dryer. Many of today's high-speed washer spin cycles can cut dry times by as much as half compared with older models. This can result in annual savings near the $40 mark.
Use an ice tray: Although automatic ice makers are a nice convenience, they could be increasing your fridge's energy consumption by 14% to 20%. By switching off the ice maker and using trays, you can save about $12 to $18 off your annual electricity bill. Most units require little more than a lift of the sensor arm to switch them off, and removing the unit altogether is a simple DIY job on most models.
Use the dishwater: Many homeowners believe they can save water and energy by hand washing dishes. The truth is that a dishwasher requires less than one-third the water it would take to do those same dishes in the sink. Running the machine (when full) can cut down the operating time of the hot water heater, your home's largest energy hog. Not only will you save about $12 a year, you won't have to wash any dishes!
Put lamps in the corner: You can switch to a lower wattage bulb in a lamp or lower its dimmer switch and not lose a noticeable amount of light. It's all about placement. When a lamp is placed in a corner, the light reflects off the adjoining walls, which makes the room lighter and brighter.
Switch to a laptop: Laptops use one-third the power of a typical desktop when in active mode. Annually, a laptop could save you about $19 compared with a desktop.
Choose an LCD TV: If you're among those considering a flat-screen upgrade from your conventional CRT TV, choose an LCD screen for the biggest energy save. Opting for an LCD TV will cost about $8 per year to operate - for an annual savings of about $42 over a plasma screen. Of course, you will ant to weigh your decision against the cost of a new TV.
Give your water heater a blanket: Your water heater could benefit from a blanket in the winter, especially if it lives in an unheated space. A fiberglass insulating blanket can cut heat loss by 25% to 40% and save 4% to 9% on the average water-heating bill of $308. Be sure to do this safely and correctly to avoid damaging your water heater. Read more about it here.
Turn off the burner before you're done cooking: When you turn off an electric burner, it stays hot for quite a while. Use that to your advantage by shutting off the burner early and using the residual heat to finish up your dish. The same technique can be applied to the oven. The savings can add up to a couple bucks every month.
Spin laundry faster: Good dryer efficiency starts in the clothes washer. The faster your washing machine can spin excess water out of your laundry, the less you'll need to use your dryer. Many of today's high-speed washer spin cycles can cut dry times by as much as half compared with older models. This can result in annual savings near the $40 mark.
Use an ice tray: Although automatic ice makers are a nice convenience, they could be increasing your fridge's energy consumption by 14% to 20%. By switching off the ice maker and using trays, you can save about $12 to $18 off your annual electricity bill. Most units require little more than a lift of the sensor arm to switch them off, and removing the unit altogether is a simple DIY job on most models.
Use the dishwater: Many homeowners believe they can save water and energy by hand washing dishes. The truth is that a dishwasher requires less than one-third the water it would take to do those same dishes in the sink. Running the machine (when full) can cut down the operating time of the hot water heater, your home's largest energy hog. Not only will you save about $12 a year, you won't have to wash any dishes!
Tuesday, June 7, 2011
Thinking of Becoming a Real Estate Agent?
Have you ever thought about a career in real estate? There are many great reasons to become a Nothnagle agent. A career in real estate can be very exciting and rewarding. It offers freedom and unlimited earning potential. There are many steps to starting a career in real estate.
We also offer several FREE Career Day Seminars every month that will tell you more about the real estate business. They are held at our Career Center on 2930 East Henrietta Road. Here are the following upcoming dates:
Saturday, June 04, 2011 10:00 AM
Thursday, June 09, 2011 7:00 PM
Saturday, June 18, 2011 10:00 AM
Saturday, July 09, 2011 10:00 AM
Register Today!
We also offer several FREE Career Day Seminars every month that will tell you more about the real estate business. They are held at our Career Center on 2930 East Henrietta Road. Here are the following upcoming dates:
Saturday, June 04, 2011 10:00 AM
Thursday, June 09, 2011 7:00 PM
Saturday, June 18, 2011 10:00 AM
Saturday, July 09, 2011 10:00 AM
Register Today!
Sunday, June 5, 2011
Getting Your Offer Accepted
Imagine that you have finally found the house of your dreams. It is priced right and getting a lot of potential buyers through. You want to make an offer, but what can you do to make sure your offer is the one that is accepted? Financially, offers can be broken down into three categories:
1.) An All-Cash Offer
Obviously, a cash offer is favored by any seller. In today’s real estate market, an all-cash offer is even more enticing. Last month, one in four real estate transactions were impacted by a low appraisal. An all-cash buyer eliminates the need for the bank appraisal.
2.) A Non-Contingent Offer
If you don’t have cash readily available, the next best thing would be to make a non-contingent offer. To do this you should be already pre-approved for a mortgage and have your current house already under contract. This gives the seller the confidence that you are already a qualified buyer who will be able to complete the purchase.
3.) A Contingent Offer
Some buyers start the process of looking for a new home before their current home is sold, which could be a big mistake. If you find the home you have been waiting for, it will be very difficult to get an offer accepted because the seller could see the offer potentially falling through down the road.
Asking a seller to wait until your home is sold is somewhat unreasonable in today’s market. One of the reasons you would want the home is because the seller priced the home at a value to sell it NOW. They want to know it is sold when they accept an offer.
Unless you have the ability to purchase with cash, the best thing to do is to be pre-approved for a mortgage and have your current house already in contract before looking for the home of your dreams.
Source: http://kcmblog.com/
1.) An All-Cash Offer
Obviously, a cash offer is favored by any seller. In today’s real estate market, an all-cash offer is even more enticing. Last month, one in four real estate transactions were impacted by a low appraisal. An all-cash buyer eliminates the need for the bank appraisal.
2.) A Non-Contingent Offer
If you don’t have cash readily available, the next best thing would be to make a non-contingent offer. To do this you should be already pre-approved for a mortgage and have your current house already under contract. This gives the seller the confidence that you are already a qualified buyer who will be able to complete the purchase.
3.) A Contingent Offer
Some buyers start the process of looking for a new home before their current home is sold, which could be a big mistake. If you find the home you have been waiting for, it will be very difficult to get an offer accepted because the seller could see the offer potentially falling through down the road.
Asking a seller to wait until your home is sold is somewhat unreasonable in today’s market. One of the reasons you would want the home is because the seller priced the home at a value to sell it NOW. They want to know it is sold when they accept an offer.
Unless you have the ability to purchase with cash, the best thing to do is to be pre-approved for a mortgage and have your current house already in contract before looking for the home of your dreams.
Source: http://kcmblog.com/
Friday, June 3, 2011
Nationwide Open House This Weekend!
If you are in the market for a new home or just looking for something to do this weekend, check out an Open House!
The 2011 REALTOR Nationwide Open House is this weekend, June 4-5. Over 300 state and local REALTOR® associations are participating, including associations from 59 countries—making this a truly global open house weekend and bringing buyers and sellers together. REALTORS® will be on hand at their open houses to answer questions about the buying and selling process, as well as the benefits of being a home owner.
The 2011 REALTOR Nationwide Open House is this weekend, June 4-5. Over 300 state and local REALTOR® associations are participating, including associations from 59 countries—making this a truly global open house weekend and bringing buyers and sellers together. REALTORS® will be on hand at their open houses to answer questions about the buying and selling process, as well as the benefits of being a home owner.
Wednesday, June 1, 2011
4 Financial Reasons to Buy Now
Purchasing a home is a personal decision. However, we want to give everyone four great financial reasons why you should not wait before taking the plunge into homeownership.
Interest Rates Are Increasing
Interest rates have increased almost 3/4 of a point in the last six months. Most experts expect rates to continue to increase through the year. Interest rates along with price determine the overall cost of a home. Even with prices softening, if interest rates rise, it may be less expensive to buy now rather than wait.
The 30-Year Mortgage May Disappear
There has been much debate regarding government’s role in providing support for homeownership. There are several experts who believe If Fannie Mae and Freddie Mac’s roles are eliminated, or even limited, it may be the end to the 30-year mortgage. This concern is addressed in MSN Real Estate’s Is it curtains for the 30-year mortgage?
QRM Requirements Could Be Much More Stringent
Here are proposed changes to the requirements for a ‘qualified residential mortgage:
Certain mortgage types would be eliminated
You would need to put a minimum of 20% down
You would need a minimum 690 FICO score
The ratios of income to both the mortgage payment and overall debt would become much more conservative (28% and 36%)
There would be loans available to purchasers who don’t qualify under the new rules. However, they will probably be more expensive to the buyer (both in rate and costs).
Rents Are Expected to Increase
The supply of available rentals is decreasing and the demand is increasing. That will lead to an increase in rental costs throughout the year. The Wall Street Journal this week quoted a report by Reis, Inc:
“Expect vacancies to continue declining, and rents rising through the rest of 2011 at an even faster pace.”
Interest Rates Are Increasing
Interest rates have increased almost 3/4 of a point in the last six months. Most experts expect rates to continue to increase through the year. Interest rates along with price determine the overall cost of a home. Even with prices softening, if interest rates rise, it may be less expensive to buy now rather than wait.
The 30-Year Mortgage May Disappear
There has been much debate regarding government’s role in providing support for homeownership. There are several experts who believe If Fannie Mae and Freddie Mac’s roles are eliminated, or even limited, it may be the end to the 30-year mortgage. This concern is addressed in MSN Real Estate’s Is it curtains for the 30-year mortgage?
QRM Requirements Could Be Much More Stringent
Here are proposed changes to the requirements for a ‘qualified residential mortgage:
Certain mortgage types would be eliminated
You would need to put a minimum of 20% down
You would need a minimum 690 FICO score
The ratios of income to both the mortgage payment and overall debt would become much more conservative (28% and 36%)
There would be loans available to purchasers who don’t qualify under the new rules. However, they will probably be more expensive to the buyer (both in rate and costs).
Rents Are Expected to Increase
The supply of available rentals is decreasing and the demand is increasing. That will lead to an increase in rental costs throughout the year. The Wall Street Journal this week quoted a report by Reis, Inc:
“Expect vacancies to continue declining, and rents rising through the rest of 2011 at an even faster pace.”
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