Saturday, November 05, 2005

Working with Your Home Builder

 

The process of building a new home is exciting, demanding, and can be a real challenge. Signing the contract is only the beginning, and it should never be the end of your involvement in the process. Staying informed and involved in the building of your new home is essential.

While you're leaving the construction itself up to the builders, the decisions should be in your hands. Read your contract and all the paperwork carefully, and if changes come up along the way, make sure to document everything. If you decide you want an extra window in the living room, that change needs to be reflected on a signed contract. Trust us, this will save you lots of headaches later! It's also important to keep up with what is happening on the house as often as possible. Please note this doesn't mean breathing down anyone's neck! Builders are busy people, and not everyone on the crew is going to be as up to speed on the plans as you are. Take care to note the progress, and speak up if things seem to be going awry. If you didn't remember a closet in the upstairs hallway, bring it to someone's attention. You may feel as though you're being a pain, but it's a legal issue. You may be paying for what they build. Make sure it's what you wanted.

It's also important to remember that, while getting what you want out of your newly-built house is the main priority, the builders have priorities, too. And you have every right to receive a house built to safe, sturdy specifications, with a properly set foundation, even flooring, and everything else up to code. If you've hired reputable builders you should be in luck- it's their job to get this stuff right. It's also their job to fix it if any of the basic requirements fall short of what they should be.

Even while you're watching the progress, noting changes, and verifying the big stuff, try giving everyone a little slack when it comes to the small details. What a horror for builders to deal with a home owner who is screeching about the wrong doorknobs when they are trying to finish a house by deadline. Keep in mind that human errors happen. If they're big ones, then you have every right to have them corrected. If they are not what you paid for, then you have every right to speak up and have things set to rights. But if the inconsistencies are small enough to live with, won't affect your happiness with the house overall, and will be easy to change out later, then give the builders a break. Ask for a discount if you didn't get the shower door you ordered, but the one that's there works just fine. During the building process of your house, it's best to keep one eye on your contract- and the other eye on the big picture.  

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.

What's Hot in Real Estate?

Just like cars, clothing, and anything else that people buy with their hard-earned money, real estate goes through many a trend. The answer to what's hot in today's real estate market can be found by looking at new houses being built as well as popular renovations being done to older properties. If you consider the lifestyle of today's families, it's not difficult to see why these trends are becoming so big- and why they're likely to stay around for awhile.

Today's homeowners want open spaces more than almost anything. Even if a house is small on square footage, the lack of walls and enclosed areas is a big plus in today's market, where people want a feeling of freedom and luxury. Low ceilings, solidly divided rooms, and narrow entryways are relics of the past that can still be found in many homes built in the 70s and 80s, and people are paying big money to have those features removed and renovated. More and more new homes are being built with cathedral ceilings and front doors that open directly into large living spaces. Even a smaller house, built with a lower budget and sold with a lower price tag, can benefit from losing a few walls and gaining a feeling of open space. This trend is all about the sensation you get when you walk in the door: Today's homebuyers want houses that feel big, even if they aren't.

Speaking of size, there are two rooms in today's homes that are increasing in popularity, and thus in average size. These are the kitchen and the master bedroom. Today's home builders and buyers are willing to sacrifice some space in other areas, like the family room or the bathrooms, in order to have a large informal eating area or a double-sized master bedroom. Kitchens with a breakfast bar that overlooks the living room, and master bedrooms with their own baths and even outdoor patios, are huge selling points in today's market that can outshine the fact that a house might be a little lacking in other areas. It has to do with the way families are living today, experts claim. With hectic schedules and little time together, meals are becoming more and more important, and working parents like to be able to have everyone together in the kitchen, or near it, while they're cooking and serving. As for the popularity of large and luxurious master bedrooms, the reasoning is obvious: Today's busy homeowner has a very strong desire for rest and relaxation. A good-sized master bedroom provides a retreat and a private area for the grown-ups in the house to have to themselves.

So if you're planning to sell your home in the near future, or if you're hoping to build or renovate a house for profit, take a good look at these current trends. Regardless of the size of your particular property, adjusting it to match what homeowners want most in today's market can result in big payoffs.

 

 

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.

Friday, November 04, 2005

What's Hot in Real Estate?

Just like cars, clothing, and anything else that people buy with their hard-earned money, real estate goes through many a trend. The answer to what's hot in today's real estate market can be found by looking at new houses being built as well as popular renovations being done to older properties. If you consider the lifestyle of today's families, it's not difficult to see why these trends are becoming so big- and why they're likely to stay around for awhile.

Today's homeowners want open spaces more than almost anything. Even if a house is small on square footage, the lack of walls and enclosed areas is a big plus in today's market, where people want a feeling of freedom and luxury. Low ceilings, solidly divided rooms, and narrow entryways are relics of the past that can still be found in many homes built in the 70s and 80s, and people are paying big money to have those features removed and renovated. More and more new homes are being built with cathedral ceilings and front doors that open directly into large living spaces. Even a smaller house, built with a lower budget and sold with a lower price tag, can benefit from losing a few walls and gaining a feeling of open space. This trend is all about the sensation you get when you walk in the door: Today's homebuyers want houses that feel big, even if they aren't.

Speaking of size, there are two rooms in today's homes that are increasing in popularity, and thus in average size. These are the kitchen and the master bedroom. Today's home builders and buyers are willing to sacrifice some space in other areas, like the family room or the bathrooms, in order to have a large informal eating area or a double-sized master bedroom. Kitchens with a breakfast bar that overlooks the living room, and master bedrooms with their own baths and even outdoor patios, are huge selling points in today's market that can outshine the fact that a house might be a little lacking in other areas. It has to do with the way families are living today, experts claim. With hectic schedules and little time together, meals are becoming more and more important, and working parents like to be able to have everyone together in the kitchen, or near it, while they're cooking and serving. As for the popularity of large and luxurious master bedrooms, the reasoning is obvious: Today's busy homeowner has a very strong desire for rest and relaxation. A good-sized master bedroom provides a retreat and a private area for the grown-ups in the house to have to themselves.

So if you're planning to sell your home in the near future, or if you're hoping to build or renovate a house for profit, take a good look at these current trends. Regardless of the size of your particular property, adjusting it to match what homeowners want most in today's market can result in big payoffs.

 

 

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.

Thursday, November 03, 2005

What is Gazumping?

Just what is gazumping, and how do you make sure that it does not get the best of you? The term gazumping is said to have come from the Yiddish word "gazumph" which means to swindle or overcharge. During the 1920s, it supposedly came in to frequent use in the gangster culture, when people would use the word when making false transactions to con someone in to upping their price. Over time, the meaning has changed slightly, and the word now applies primarily to real estate. Gazumping is when a vendor accepts a higher offer from another buyer after one has already been accepted.

 

If you have never purchased a home before, this may seem very unfair to you, and you may not understand how this happens. When a buyer puts in a bid on a house and the vendor accepts it that is only the beginning. An agent, which is a go between for the buyer and the vendor is still obligated to tell the vendor of any bids that go in on the property until the close of the sale. So, even when there has been an agreement made, until the contracts are signed, the property is still up for grabs. This is good for the vendor, because they can still accept higher offers. Even if the house has been taken off of the market, until contracts are signed, parties who have previously viewed the property can still put a bid in on the real estate. If this happens, the agent is legally obligated to inform the seller of such activity. This is to protect the seller's best interest.

 

For the most part, agents do not want there to be another offer. Once an agreement is made, it is in their best interest for the proceedings to happen as quickly as possible. A slightly higher bid will not necessarily mean much more in commission for them, but it will mean a lot more work in deliberations and paperwork. So, many agents will ask sellers to sign an agreement that says that gazumping will not be a problem.

 

As a buyer, it is in your best interest to ensure that your funds do not get tied up in legal proceedings for a property that you may not end up with in the end. Ask your agent about the prospects of gazumping, and whether or not they have a contract with the seller that prevents such activity. This will lead to a less stressful proceeding for all parties involved. Buying a home for the first time can be a scary and exciting process. Obviously, you want it to be more exciting than scary, so cutting out as many surprises as possible is paramount.

 

Once you put in a bid on a property and it is accepted, your money begins to be spent. Inspections, feasibility studies, appraisals and court fees are non-refundable. So, in order to ensure that this money is not being spent in vain, do everything you can to make sure that you understand where your agent stands on gazumping, and be sure to be as up front and honest about your intentions as you expect the other party to be.

 

 

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.

Wednesday, November 02, 2005

Tips on Your Real Estate Loan

The median price of a home in the United States is somewhere in the neighborhood of approximately $222,000, at least an 8 percent increase in the past three years. 

 

The loan you take out to start up your real estate endeavors, whether it be to purchase a home for yourself or make a profit off of your real estate purchase, is most likely going to be the most monumental commitment you will ever make in your life, money wise at least.  As with all the other monumental commitments and decisions you make in your life, taking out a loan to purchase property is not a decision to be made with haste.  You wouldn't purchase your home without shopping around to get the best home for the best deal; in essence, you are purchasing a large sum of money from your bank or mortgage company to make your purchase.  That fine black print on your loan contract is a tricky little thing called interest, and a change in even a half percent can drastically affect the price of the loan.  Interest, in essence, is payment to the lender for "allowing" you to use their money for your property purchase. 

 

Your credit score is a clear indicator to a lender of your dependability.  If your credit score is on the low end of the spectrum, obviously a smart lender wouldn't give you a loan (especially a large one) without having you pay some type of penalty for it.  It is for this reason that bad-credit loans and such are not always the smartest idea, especially when the amount of the loan starts to get up there. 

 

Bad credit loans cost a lot more than a loan from a more traditional mortgage lender, or even your local bank and trust would cost you.  Lenders can afford to issue loans to more dependable mortgagees who have higher credit scores; the likelihood of them returning the loan and making all of their payments on time is a lot greater than the likelihood of a young college student freshly married and looking to purchase a home.  Not only is the more youthful traditionally seen as less responsible, but chances are that they have little or no credit.  Such a person would not have had as much experience paying bills on time and fulfilling their ends of the bargain when it comes to small loans at furniture stores, store credit cards, and such as a 35-year old who has been in the workforce for 15 years, married to the same person for 10 years (getting a divorce CAN affect your credit, believe it or not) and been leasing rental homes, making good on their leases and contracts they enter into with the landlord?

 

Ensure that you enter into your loan agreement as fully informed about the products available to you as possible.  Keep in mind that a 10% interest rate over the span of a normal 30 year mortgage loan could double the face value of the loan, turning your $100,000 home mortgage into $200,000 debt, or worse.

 

 

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.

Monday, October 31, 2005

Three Things to Avoid When Buying a Home

Whether you're a first-time homeowner or moving on up the property ladder, home buying can be tricky. How do you draw the line between a money pit and a diamond in the rough? Here are three things to keep in mind. Depending on the circumstances, these might be reasons not to buy.

Neighborhood. Unlike the rental world, where neighbors last a year, a house is a long-term commitment. Your neighbors when you move in may very well be your neighbors for some time to come, and that's something to keep in mind when looking at a potential new home. Also consider proximity of the house to things like schools, stores, and major roads. If there's a highway nearby, some questionable properties, an unfriendly feeling, or anything else that feels uncertain, it might be wise to give that house a pass. After all, you might be able to fix your house, but you can't fix your neighborhood.

Major repairs. Many inexperienced home buyers make the mistake of not checking out every aspect of the property thoroughly. Getting a great deal on a house with a roof that needs replacing is not that great of a deal. Check out the furnace, central air, and the plumbing and electrical systems. Major problems don't necessarily mean you shouldn't buy the property, but they should be included in the price negotiations. A good realtor or seller will factor in such considerations, and you may be able to buy the house for less if it's understood that you're responsible for replacing the roof. Just don't get duped. Don't take anyone's word that the furnace is new- make sure of it.

Water Damage. Check this one out- thoroughly. Is the house located in a high-flood area? Is something important (like the roof or basement) leaking? If water damage occurred once it's not likely to stop unless the problem- aka the flow of water- is corrected. This could lead to expensive irrigation systems and internal repairs. I heard a horror story of a house that began with a water spot on a wall, and led to removing the floor and vacuuming out two feet of water. Water damage is often a sign of a bigger problem. Unless you can trace it to its source and identify how to stop it, it might be best to steer away from water-damaged property altogether. Why sign up for trouble?

Keeping your eyes open going into a real estate negotiation is the most important thing. If something doesn't feel right, trace it backwards until you figure out why, and then decide if it's worth it to go ahead with the purchase. Sometimes you'll find it's easy to walk away from a great house in a bad neighborhood. Other times, you can get your purchase price substantially reduced if you can point out exactly what repairs are needed. The trick is to catch those needed fixes- because the seller may not point them out for you.

 

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.

Sunday, October 30, 2005

The Unique Qualities of a Great Real Estate Agent

In laymen's terms, Real Estate is the business of helping people buy and sell property.  As a real estate agent, your job is not always that simple, though.  It is important for a real estate agent to be very well versed in their trade; this involves knowing the laws of the real estate business in and out. They have to be able to successfully appraise the value of a home or a piece of land (to some extent, there are professional appraisers that can be hired to do a more exact estimation of the value).  They must be good with people, amiable, and honest.  Never underestimate the power of people and their ability to read others, especially since most times when people are in the process of selecting a real estate agent they are usually in an intentional, purposeful state of judgment.  It is important to establish a relationship built on trust between the prospective buyer or seller and the real estate agent. 

 

If you really want to know what makes a great real estate agent, think about when you bought your first house.  If you have never bought your own home, you probably will some day (especially if you are reading this) and in that respect, think about what you way you would want things to be when you decide to take that leap.  Homes are a big investment, they can cost anywhere from a few thousand dollars to millions of dollars.  Most people have to save up for the better part of their lives to afford their "dream homes," and it is important that your behavior as the agent understand how important of an investment buying a home is, and relating that understanding to your clients.  If you were the one making such a large investment, you would want to assure that your real estate agent could be trusted, and that they had your own best interests at heart, right?  In that same respect, you as the real estate must take into consideration that in a way, your clients look up to you.  Most of the time if they select you as their agent they are already assuming that you possess a certain level of knowledge, understanding, and compassion for their situation.  You must make sure to keep their best interests at heart because they already think you do, and the repercussions can be rather nasty if you fail them--that's what Errors and Omissions insurance is for, although that is another story, entirely.

 

Also, remember that real estate agents work overtime!  This is not a part time gig; the most important clients and those who are looking to make the bigger purchases (and more purchasing dollars equal more commission dollars for the agent) work a regular nine to five schedule or worse, and they may want to meet with you and look at properties during the evening hours or on the weekends, and several times a week when they are picky--and they usually are.

 

It can be said that real estate agents have some of the most rewarding and important jobs out there.  They can be an integral part of the American Dream; helping people buy and sell houses is a tough line of work, but someone has got to do it. 

 

      

www.pinellas247.com

www.suncoastrenttoown.com

Dobler Consulting Inc
2339 Warwick Dr
Oldsmar
FL 34677
United States



To stop further mailings or to change your details, click here.