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Which Method Should You Use To Buy Your Parents A Home?

Posted by on Feb 24, 2017 in Uncategorized | Comments Off on Which Method Should You Use To Buy Your Parents A Home?

After experiencing success, one of the first purchases some people make is a new home for their parents. Some choose to buy the home because they want their parents closer to them or their parents are on a fixed income and need the assistance. Regardless of the reason, there are several options available for helping your parents. Here are two options and the pros and cons of each.   Assist Your Parents Instead of outright buying the home for your parents, you could choose to assist them in doing it themselves. In essence, you could co-sign for your parents’ home loan. Helping them through this method could be beneficial to you and them.   When you co-sign, you enable your parents to afford the home they want. If they have poor credit, their chances of getting a loan is greatly reduced. However, with your assistance, they could not only score a loan, but potentially get one with a lower interest rate than they would have been offered with their own credit history.   Another reason to co-sign is that you do not have to invest your own money into buying the home. Your parents will be responsible for the down payment and other closing costs.   There is a drawback to co-signing for your parents though. If your parents are unable to make the payments, the loan could default. You can potentially avoid this problem by opening a joint bank account with your parents from which the payments can be taken. You can monitor the account to determine if the funds are available for the mortgage payments and help make up the difference if not.   Rent to Your Parents Another option available to you is to buy a home for your parents and rent it to them. If you choose this option, you have the security of knowing that trustworthy tenants are residing in the home. If there are renovations that need to be made to the home, you can do these knowing that they benefit your parents and add value to your home.   In addition to this, you can use the property to garner tax deductions for the money you put into the home. To claim the rental property, ensure that you and your parents have a formal lease agreement in place.   There is a disadvantage to renting to your parents though. If you do not feel comfortable collecting rent from your parents, the first of the month could be awkward for both of you.   You and your parents should work with a realtor to determine what the best option is for both of...

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3 Tips For Getting Your Home To Sell Faster

Posted by on Jan 20, 2017 in Uncategorized | Comments Off on 3 Tips For Getting Your Home To Sell Faster

If you have a property on the market for sale, you will want to do all you can to make it sell quickly. However, this can be more challenging than you think. The good news is when you’re motivated to get your home sold, you may be able to accomplish this goal in a shorter amount of time. Being aware of tips that can be the key to finding the ideal buyer quickly may be helpful to you. Read on for more information. Tip #1: Make updates If you want to get your home sold, you will need to ensure it looks as attractive as possible. Taking the time to do a thorough inspection and making a list of the ways to improve your home are great ways to start. Listed below are some simple things you can do: Paint – Does the exterior of your home need a new paint job? What about some of the rooms inside of your property? Painting may be a task you can do yourself to save money. Stage – Adding some rented furniture to your living room can be better than using your own while you have people viewing your property.  Landscape – Working in the yard to ensure it looks nice and well-manicured is always a great idea for any home seller. Tip #2: Enlist a realtor The key to having faster success in selling your property may rest in hiring the right professional help. Choosing the perfect real estate agent can help you market your home better and find ways to assist you in turning your home from for sale to sold in no time at all. You will want to be certain your house is listed on as many websites as possible to attract attention. Tip #3: Lower the price If you’ve had a home that has been sitting on the market for an extended amount of time, you may want to think about the price. Consider if this amount can be reduced and still allow you to make the profit you need and then do it. There are many things you can do that will enable you to have a home that is more marketable and will sell quicker. Simply putting these tips to work are sure to help render the results you want today when it comes to this important real estate transaction. For more information, contact local professionals like Desert Sky Real Estate,...

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Know The Rules Before Attending An Auction For A Home

Posted by on Jan 17, 2017 in Uncategorized | Comments Off on Know The Rules Before Attending An Auction For A Home

A lot of people look for foreclosed homes to buy so they can purchase them at cheaper prices, and many of these types of homes are sold through real estate auctions. If you are interested in buying a house at an auction, it is very important to find out all the rules before you attend the auction. If you do not know the rules and do not come prepared, you may miss your opportunity to buy the house that is being auctioned off. Here are some of the rules that often apply when homes are sold through auctions. You may need cash to bid In order for you to even bid on the house that is being auctioned off, you may have to pay a cash deposit. This amount can vary, and it is typically refunded at the end of the auction if you do not win the bidding. If you do not have the cash deposit, you will not have the ability to bid, which is why you should call the auction company ahead of time to find out if this is required. You may need a cashier’s check A second common requirement for homes that are sold at auctions is the need for a cashier’s check. If you plan on bidding on the house, you may need to show the auction company your cashier’s check before the bidding begins. You will need to call ahead of time to find out what the amount will be that is needed, and you must make sure you bring the check with you on auction day. You will need to research the home The other thing you may want to ask the auction company about is whether you will be able to enter the home on auction day. This is something that can be allowed in some cases, but it is often prohibited. In other words, you will be buying the house sight-unseen, except that you will be able to see the exterior of the house. Because of this, you may want to research the home, its title, and any information related to it. This will help you learn more about the house and find out if there are any liens on the house that you will inherit if you purchase the home. If you have any questions about foreclosed homes or homes sold at auctions, talk to a real estate agent...

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Renting a Condo: What Makes It Different from a Home

Posted by on Jan 12, 2017 in Uncategorized | Comments Off on Renting a Condo: What Makes It Different from a Home

When you have the option of renting a condo over renting a home, you may want to know what the difference in condo living is. Here are a few differentiating factors that you should think about when renting a condo over a home. Location Condos, like apartment complexes, are often located in the heart of town, making them convenient locations for living when you are a college student or want to live closer to work. Rather than sitting in the middle of a classic neighborhood or subdivision like a classic home, condo living puts you closer to the hustle and bustle of your city or town. Keep this in mind when choosing a condo to live in, especially if you have children in the home. Amenities When you rent a home, you don’t have access to amenities that you can get from living in a condominium. You can enjoy perks such as 24-hour surveillance and security, an on-site manager, and even pool or gym access on the premises if you rent a condo over choosing a home. If this is something you would like, but you don’t want the many neighbors or crowded feel of apartment living, then a condo is a perfect rental choice for you. You can even have your own private parking area and laundry service included in your monthly rent if you choose a condo that offers these amenities. Rules Renting a home usually comes with a few stipulations, such as no pets, no smoking allowed, or no painting of the inside of the unit allowed. A condo may have even more strict rules designed to keep peace and organization within the condominium as a whole. There may be an active-noise ordinance put into place, restrictions on planting gardens in the common yard, rules regarding having guests over, or even limits on how many people can live in your condo at one time. Before renting any condominium unit, check with the Condo Association for the building to see whether the rules will work for your needs and lifestyle. Renting a condo such as one from Bradley Scott, Inc. can give you close access to the action in town while allowing you to have your own private and spacious unit to enjoy. Visit several condos for rent in your area so you can compare unit designs and locations to help you make your ultimate decision. If you have concerns about renting a condo over a house, talk to a real-estate agent to help you understand the pros and cons of each...

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2 Things To Look For When You Are Buying Property

Posted by on Jan 5, 2017 in Uncategorized | Comments Off on 2 Things To Look For When You Are Buying Property

If you are looking to build your dream house or a place where you can hide from the rest of the world, you are going to have to start looking for the right land to build on. Finding the perfect land to build on can be difficult, especially if you are looking for remote land or scrub land to build on. There are some things that you can look for that will help you find the right land for you.  Access There’s no point in owning land if you can’t get to it so that you can build on it. You need to know how you are going to get on your land. Is there a public road that runs past or through your property? Is there an easement or right-of-way through a neighboring property that you are going to have to deal with? Likewise, do you have to provide an easement through your property for a neighbor? Part of access will also mean that you need to find out who needs to repair the roads or maintain them during the winter. If the land is remote enough, you may not be able to build a road to it from the public road, and you may only be able to fly or boat in. But you need to know these things before you move in so that you can plan accordingly.  Survey and Boundaries Another thing that you need to look for when you are buying your property is what the boundaries are, precisely. You don’t want to own your property for a few years only to find out that you have spent a lot of time and money on a stretch that doesn’t belong to you but is actually part of a neighbor’s property. In order to avoid this, you need precise boundaries. For that, you need a recent survey. This means that a surveyor has to come out and measure the boundaries. They will place markers and cornerstones as well as record the GPS coordinates of the property lines. With this information, you will know precisely where your land is and you can use that information in a dispute with neighbors, if necessary.  If you are going to buy a rural or remote property so you can build your perfect house, you are going to have to spend some time looking. If you need more help, you can always go to a real estate agent who specializes in remote, rural, or scrub...

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Don’T Forget These Three Things When Staging Your Home

Posted by on Jan 3, 2017 in Uncategorized | Comments Off on Don’T Forget These Three Things When Staging Your Home

Staging a home has many benefits, including helping your home sell faster and letting you take better quality photos. However, there are several things people often forget when staging their homes that can be off-putting to potential buyers. Here are three things you need to take care of to ensure your home puts it best foot forward. Neutralize the Home Decor The purpose of staging a home is not to show off your decorating skills but to help potential buyers better imagine what they could do with the space. That’s one reason why staged homes sell quicker than unstaged ones. The trouble is your personal style can actually get in the way of potential buyers seeing the home clearly. They may be too distracted by your collection of singing bass to focus on the room’s crown molding or other features. Therefore, it’s a good idea to stage your home as neutrally as possible. For instance, repaint the hot pink walls in your kids’ room to a grey, taupe, or white, and use gender neutral bedding and towels in the bedrooms and bathrooms. This will make it easier for potential buyers to imagine themselves living in the house. Eliminate Pet Odors It’s a well-known fact that people become nose-blind to odors in their homes. So if you have pets, there’s a good chance your home smells like it and you just don’t notice any more. However, potential homebuyers will and that could cause them to take your home off the list before they even start the tour. Get all of your carpets cleaned and use an odor absorbing powder each time you vacuum. Wash the walls and other surfaces your pet may have had contact with. Pet toys, blankets, and other smelly items should be placed in the garage or other out-of-the-way space until after the tour has ended. Add Purpose to Extra Rooms The third thing many people forget about is extra unused rooms. If you’ve been using the extra room in your home as impromptu storage or have left it bare, consider staging it too. You can rent furniture from a local store to create a bedroom, office, or other space to provide buyers with ideas about what can be done. This also applies to outdoor spaces, like decks and garden areas. Get some outdoor furniture and dress up the area to make it more appealing. For more tips on staging your home to sell, contact a real estate agent like Re/Max Alliance – The Diane Stow...

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3 Things First Time Real Estate Investors Should Know

Posted by on Dec 29, 2016 in Uncategorized | Comments Off on 3 Things First Time Real Estate Investors Should Know

Investing in real estate has been a great choice for many people. However, getting started can be difficult. Investing in a property and renting it out for a profit can be difficult the first time around. A few small mistakes can lead to losing thousands of dollars. When investing in real estate for the first time there are plenty of hurdles to jump over. Here are three things first time real estate investors should know before making the jump and buying their first property. Higher Down Payment May Be Required Saving up for the down payment on a home can be difficult. It may be even more difficult when purchasing an investment property. Unlike residential properties, mortgage insurance does not cover investment properties. For this reason a higher down payment may be required. Investors should plan to put down a down payment of at least 20 percent in order to secure a loan for their investment property. For many properties this can be a sizable sum. First time real estate investors should be prepared to put more money down and adjust their budgets accordingly. Prepare For Higher Interest Rates Not only are higher down payments after required for rental properties, but higher interest rates can also be expected. Banks consider investment properties as having a higher risk associated with them compared to residential properties. Because of this banks often charge higher interest rates. First time real estate investors can expect mortgage rates between 0.5 and 1.5 percent higher than the rates for a residential property. Higher interest rates will mean higher monthly payments. When investing in real estate for the first time it’s important to keep interest rates in mind and consider how they may affect monthly payments on a property. It May Be Better To Start Smaller When it comes to investing in real estate for the first time, bigger may not be better. One of the biggest mistakes first time real estate investors make is overextending themselves. First time investors should focus on finding properties that are below market value, in desirable areas, and that do not require extensive repairs. Many are tempted to purchase fixer uppers. However, renovating these properties can easily end up being more costly than expected and can majorly cut into profit margins. Also when calculating the rate of return on the investment property, which averages around 9 percent, it’s important to factor in taxes, maintenance, and other expenses. Investing in real estate for the first time can be a learning experience. First time investors should prepare for higher down payments as well as higher interest rates before making their first investment. It may also be a good idea to start smaller and look for a property that doesn’t require a lot of...

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Close To Manhattan, But Near The Water: 3 Towns To Consider For Your Vacation Home

Posted by on Dec 29, 2016 in Uncategorized | Comments Off on Close To Manhattan, But Near The Water: 3 Towns To Consider For Your Vacation Home

If you live and work in Manhattan, but are looking for a vacation home for sale nearby, and close to water, then you’re in luck. There are lots of really cool options within driving distance of the city. This article will provide you with three towns to consider. One of them is located in Pennsylvania (in the tri-state region) and is located right near the enormous and beautiful Delaware River. The other town is located in Orange County, New York and is nearby the huge Greenwood Lake. Finally, there is a town out on Long Island that will have you right near the gorgeous Long Island Sound. Milford, Pennsylvania If you like rural areas and want to be able to go hiking in the forest while on vacation, in addition to being near water, then Milford is a great spot. The town has a hip vibe and is close to great tourist attractions such as the Delaware River and  High Point State Park. You can go rafting or kayaking on the river during the Spring and Summer, and hike the trails in the park Spring, Summer, and Fall. The town is very walkable, with shops and restaurants with an old-fashioned “Main Street” vibe. If you don’t own a car, then this is a place to consider since you can take the New Jersey transit line out of Penn Station in Manhattan and ride it till the terminus in Port Jervis, New York. Milford is right across the Delaware River from Port Jervis, so you could get to your vacation house via a quick cab ride. Warwick, New York If you like upstate New York, then consider Warwick. It’s located in Orange County and it’s a very quiet and peaceful town. It’s not too rural, so you won’t have to worry about a lack of stores. There are grocers, restaurants, and even an old-fashioned drive-in movie theater. The town is also located close to Greenwood Lake. This is an enormous lake that borders both New Jersey and New York. There is a large beach, with sand and lifeguards, that Warwick residents use during the summer. You can even take out a boat and go jet skiing on the water. Sag Harbor, Long Island If you prefer Long Island, and like the atmosphere of the beaches that line the North Sore, then Sag Harbor is perfect. It’s a gorgeous town that is very exclusive and quiet. It’s not like some south shore Hamptons towns which are geared towards never ending nightlife. It’s a much more relaxed and laid back spot. The North Shore will put you right by Long Island Sound, which is an amazing view. You can hit the beaches, which won’t be as crowded as the oceanfront beaches on the south shore, and you can also take boats out into the sound, which isn’t as rough and choppy as the Atlantic Ocean on the south...

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Wood Floor Maintenance And Repair Tips To Help Care For Your New Home

Posted by on Dec 28, 2016 in Uncategorized | Comments Off on Wood Floor Maintenance And Repair Tips To Help Care For Your New Home

If you have wood floors in your home, then keeping them in good shape can be a challenge. Wood will last for many years, but it is going to need an occasional repair, finishing and other care. To start, you will want to clean the floor with protective cleaners, and then, you may want to have them refinished after years of wear. Here is some of the wood floor, maintenance, repairs and care that your home is going to need with hardwood flooring: 1. Cleaning Your Wood Floors: Protective Cleaners the Stop Damage The first thing that you want to know about caring for your floors is cleaning them. This is not something that you want to do with regular soapy water. Instead, you want to use as little water as possible when cleaning wood floors. There are also special cleaners that have oils and waxes in them, which will help give floors a protective shine. The wax will also prevent damage to your floors and ensure that you do not need repairs. 2. Wood Floors and Water Damage: Removing Stains and Doing Repairs Wood floors can also be damaged by many different causes. Some soft woods can easily be dented and scratched. One problem that all wood floors have is water. You want to avoid getting water on wood floors, but sometimes problems like leaks can lead to damage to your floors. If your floors have damaged boards, they may need to be removed and replaced. This can be done just to fix a damaged area, as well as to repair floors before refinishing them. 3. Refinishing Floors for A New Look: Taking Years of Age Off Your Wood Floors The good thing about wood floors is that they can also be refinished and have the look changed. This can be done when the floors have years of stains and wear, and you want to make them look like new again. The wood will be sanded and refinished to revive them and make them like new again. If  you have stains and want to use a lighter finish, you may want to replace any dark stains that cannot be removed by sanding and refinishing the floors. This is some of the maintenance and repairs that your wood floors are going to need. Contact a real estate agent, like http://www.winterparkluxury.com/, and talk with them about finding you a home with beautiful wood floors and you will be able to easily care for them...

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Considering A Waterfront Apartment? Check Out This List Of Pros And Cons First

Posted by on Dec 20, 2016 in Uncategorized | Comments Off on Considering A Waterfront Apartment? Check Out This List Of Pros And Cons First

Situated right near the beach with a stunning view, waterfront apartments are bound to be an attractive option if you are on the lookout for a new residence in a city area. While these apartments near the water definitely have their advantages, they can also have some downsides that some tenants just don’t care to live with. Before you take out a loan for a waterfront apartment, make sure that this is the right fit for you by getting to know a few of the pros and cons. Pro: Living near the water can mean private access to secluded beach areas in some cases.  Invest in a waterfront apartment, and chances are you can make your way down to the water pretty much any time of day or night. Plus, many waterfront apartment complexes offer private access only, which means there will be no tourists wandering about.  Con: Water travelers will likely have a view of your apartment, which can compromise privacy. Even though the area around the beach may be deemed private, for the most part, water is freely accessible without a lot of control. Therefore, you may have to deal with boaters and other water travelers having a clear view of your apartment, balcony, or private-access beach area.  Pro: Waterfront properties are always in high demand.  If there is one thing you can pretty much guarantee, it is that the value of your waterfront property will probably remain steady through the years. This is because these properties are highly sought after, which means even when other properties are still sitting in a slow market, your waterfront property will still be just as desirable to buyers. Con: Owning a waterfront apartment can mean more expensive maintenance costs.  Living on the shoreline can bring about a few more maintenance concerns for your property. For example, salty air near the ocean and higher moisture content in the air can mean more protective measures have to be taken through the year. However, most of these maintenance costs in an apartment will be shared with other tenants, which makes them a little easier to bear.  Pro: Entertaining is always excellent at a waterfront apartment. Picturesque views, a tranquil setting, access to water activities–there are a lot of reasons why guests will love coming to visit you when you live in a waterfront apartment. If you are the constant entertainer, your investment in this form of real estate is bound to be an intelligent...

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