Get a Move On With Real Estate

When it’s time to make a big change, life may offer a subtle sign, like a spouse’s note on your pillow that reads, “I never want to see you again”. But how do you know when to nail that “For Sale” sign in the front yard of your real estate?

As life-changing decisions go, selling your home is right up there. Whether it’s to take a promotion, care for aging parents or something more personal, only you can say if it’s the right move for you. But if the choice to sell real estate has been made and the only thing left to decide is the timing, a few pointed questions should tell you if that time is now.

Can We Afford it?

It sounds like an obvious question. Yet given that household total credit-market debt – mortgages, consumer credit and non-mortgage loans – rose to 162.6 per cent of disposable income last year (how is that even possible?), it’s not. Maybe you got in over your head with your first home, but now that you’re slightly older and much wiser, take a close look at your finances before making a move with real estate:

• Is all of your non-mortgage debt paid off?

• Do you have an emergency fund with 3-6 months of expenses put aside?

• Has your home recovered enough value to give you at least 20% equity for your purchase? This will enable you to make a 20% down payment on your next home, saving you thousands of dollars in mortgage insurance costs. If you don’t know the answer, ask an experienced realtor for a free comparative market analysis that will indicate the approximate market value of your real estate.

If you answered “yes” to all three, you may be ready to take the plunge in selling real estate. If you’re not sure what an emergency fund is, you still have work to do.

Are We Still Emotionally Attached to our Current Home?

Do you tear up when you see the notches in the wall where you measured your child’s growth, or do you just think “they must have an app for that now”?

On the other hand, you may have recently experienced a divorce or other loss that necessitates a fresh start.

Usually the reality is somewhere between those two extremes. Whereas the question about finance was directed at the head, this one is clearly for the heart. If you’re quiet for a moment, it will tell you what to do. You just have to listen.

Remember, an expert realtor can offer a wealth of advice on the sale of your real estate. If you’re not ready to take it, however, you’re not ready to sell.

Does our Home Still Fit our Lifestyle?

In most cases, moving out of real estate is more than just moving over. It’s moving up or down. If you have a new addition or one on the way, it might be time for another bedroom or two to keep the “happy” in “one big happy family”. Conversely, when the kids (finally) leave the nest, downsizing can mean less upkeep and more time to enjoy the peace and quiet. After all, you’ve earned it.

With so much at stake and so many factors to weigh, the decision to sell your real estate is rarely a simple one. Nevertheless, taking stock of your finances, emotions and lifestyle can go a long way to giving you clarity. And if you should get that nasty note on your pillow, look on the bright side. Your moving decision just got a whole lot easier.

5 Perceived Needs Of Potential Home Buyers

Obviously, when someone, who is a serious, qualified, potential, home buyer, begins his search, for the home of his dreams and needs, he starts, by looking at the strengths and weaknesses, of houses, which he can, both, afford, and serve his needs and priorities. However, there are other considerations, in addition to, the property, house, condition, and features, which are also important, and relevant, to consider. With that in mind, this article will attempt to briefly discuss, and examine, 5 perceived needs, of potential home buyers (beyond, merely, the features, etc, of the house, itself.

1. Neighborhood: Since you will be living in a specific area/ neighborhood, it’s important to learn, upfront, if it’s a place, you will enjoy living! Take the time, to walk around the neighborhood, speak to some of the neighbors (if possible), evaluate the conveniences, of the area, as they relate to your needs, and priorities, etc. Even if you find, the home of your dreams, if you don’t end up, enjoying, the area, you won’t enjoy living there!

2. Safety: How important is safety, to you, and your family? This issue contains two key components, actual, and perceived safety! Check crime records and reports, and, even, speak to the local police department, to be sure you’ll be secure! Ask the neighbors about crime, etc!

3. Schools: What are the present, and, probable, future needs, of your family, in terms of the quality, etc, of the local public schools? While a real estate agent, might be, the source of where to obtain the information, they should not, ethically and/ or legally, make a definitive statement! Check the publicly available information, and data, to determine, whether your local school, is one, you would want your children, to attend.

4. Transportation: Don’t forget to consider your present, as well as, potential, transportation needs! If you will need to commute to work, how convenient is mass transportation, and how long, will that daily trip, take, as well as the costs? Are you conveniently located to roads, which you might wish to utilize, on a regular basis?

5. Convenience: How conveniently located, is this property, in terms of services, etc, you use often? This should include, how easily, you might get to stores, grocery shopping, drug stores, etc. If religion is important to you, how will you get to your selected, House of Worship? Also consider the location of necessities, such as banking, gas stations and service, etc.

When you decide to buy a house, consider, not only the house, itself, but whether, these five needs, are satisfied, as satisfactory. Since, for most, their home is their single – largest, financial asset, doesn’t that make sense?

Four Ways to Use Your Reverse Mortgage Payments

Available for certain homeowners over 62 years old, a reverse mortgage from the Federal Housing Administration can be used to meet the needs of seniors in a variety of financial situations. Some people may be reluctant to apply for this kind of equity conversion program, thinking that it sounds like borrowing against a home or some other financial decision that could incur debt. Instead, funds gained with a Home Equity Conversion Mortgage (HECM) are only making use of the equity accumulated in a home. Rather than a last resort for dire circumstances, a reverse mortgage can be appropriate for meeting many common financial concerns.

Supplemental Income

Pensions and retirement funds provide resources for those who have prepared for retirement over the course of their careers. Because of life circumstances, not everyone can live on these resources and the fruits of other investments. A reverse mortgage is a common way to supplement other sources of income. Seniors don’t need to take a job as a greeter or cashier when they have an accumulation of wealth in the form of home equity. It’s important to be able to live comfortably after decades of putting up with the rat race.

Healthcare Expenses

Even those who feel well prepared for retirement can be caught off guard by the rising costs of healthcare, especially when unforeseen medical issues arise. Diagnosis, treatment, and lengthy hospital stays are only one side of the potential expense. Chronic conditions may mean years worth of expensive prescriptions and some level of ongoing medical treatment. Dialysis treatment, diabetic testing supplies, and other major medical expenses are more than just one-time costs. Rather, a single diagnosis can completely alter a couple’s outlook for retirement.

Paying Off Debt

While credit cards are convenient and sometimes necessary, the interest rates can be especially problematic for those who no longer work full time. Whether they’ve spent money on grandkids, family reunions, or practical expenses like utility bills, many seniors find themselves with debt that needs to be resolved in a timely fashion. Arranging financial affairs is one way of minimizing the mess that will be left behind after death, but it also has the practical benefit of helping to make sure that creditors don’t seize family heirlooms and other valuables.

Financing Renovations

Every homeowner knows that some maintenance projects are investments and save money in the long run. Similarly, renovations like ramps for improved accessibility may be necessary as the residents of the home get older. Ultimately, retirement means more time at home for many seniors, and there’s no point in procrastinating on the projects that have already been delayed for years. An HECM can be used to cover the costs of renovations without draining other accounts or skimping on living expenses.

Homeowners should know about the many potential uses for a reverse mortgage. Rather than depending on a pension or trickles of funds from investment returns, an homeowners to live more comfortably and resolve financial issues by tapping into the accumulated equity.

Tips for Office Relocation – Move Like a Pro

Moving an office is not a piece of cake. It is stressful and challenging. This is because it involves both employees and leadership in the process. There are different levels of complexity when it comes to moving your office and most of them are, usually, unknown. When you encounter these complexities, stress, and chaos begins.

If you want to make your office relocation smooth and stress-free, organisation of work is the key. By focusing on organising everything, you can facilitate a successful move. A good office move begins long before the actual moving day. You must keep in mind that it is not just the equipment, documents, files and furniture that you will move. This process will affect your employees and staff. Here are some of the tips that will help you to move your office successfully.

Inform All

After you have decided to relocate, the most important thing is to inform everyone about it. It is crucial that you keep your employees informed to avoid problems and conflicts. You must communicate it to them properly through emails, meetings or other effective modes of communication. Choose a relocation time and day after discussion with employees to keep it smooth. You must also inform your clients and other important parties about your relocation.

Involve Your Employees

Involve employees in the relocation process. This will not give you support and help you need but also gives them enough outlets of expression and interaction about relocation process and the new space.

Build Stronger Communication

Communication is very important if you want to overcome confusion and havoc. By focusing on strong communication, you can prepare your employees for the change and also help them overcome any fears regarding moving to a new place.

Divide Responsibilities

After discussing every aspect of relocation with your employees and explaining them the rationality behind the move, you need to divide responsibilities. Make small groups and assign them to work that they need to complete for relocation. Discuss new roles and responsibilities during the whole relocation process.

Choose a Reliable Office Removalist

Once you have finished planning your office relocation internally, it is time to seek some professional help. Trusted and reliable removalists help in making the whole relocation procedure smooth, fast and stress-free. Professional removalists help in adopting the right approach and carry out the whole process in right way. With latest equipment and resources, they can move your office without causing any damage or loss.

Removalists are very helpful in case of office relocations as it reduces the chance of missing documents and other important things. This is possible due to the efficient planning and using right methods. Hiring a reliable and trustworthy office removalist in Sydney will cost you’re a lot but it will be worth much more than what you actually spend. And it goes without saying that a removalist company takes the burden of stress off your shoulders.

Resources for Home on Rent to Cut Brokerage

Relationship between a home owner and a tenant is a delicate one. Both have their own expectations. It is a give and take relationship just like any other. Finding the right people is a hard task for both sides. This is the very fact that gave rise to the real estate agent. There is no doubt that they have a good knowledge of the area, and they can easily understand what both sides need. However, the problem arises when their mind is set to make a profit out of you.

Their mind is completely focused on making a profit by any means necessary. They know exactly what negatives to hide, and make people unaware to many problems which they never may realize. They have dealt with all kinds of people, and there is always a new inexperienced home seeker who will fall into their trap. Most people have learnt their lesson the hard way. The time has come that you have the right knowledge to stay out of their woven trap.

What are the tools available to you for promoting or seeking property?

Resource no. 1 – Social Media

There are a number of groups where people come together to deal directly with each other. This way they become aware of exactly what’s going on in the area of their choice. You can easily ask questions, and get various opinions of the people within that specific group. You can also find many platforms that can help you reach out further to home owners or seekers when you are short of time.

Resource no. 2 – News paper ads

This is one of the oldest and the most effective ways for reaching out to home owners or seekers in a specific area. You have to be careful because there are a number of brokers masquerading as a tenant or home owner to get your attention first. You have to be very careful of such shady characters. They are the kind of people who are desperate enough to land you into a deal which may be bad choice for you in the long run.

Resource no. 3 – Forums

There are a number of forums dedicated to the cause of promoting homes before eager prospects directly without paying any kind of commission to mediators in between the deal. These forms are freely available online as well as offline to help people have an authentic deal.

Resource no. 4 – Craigslist

One of the most popular free classified portals where you can promote your property for free. However, since it is a free platform there is no authenticity of the people who are going to call you right through it. there have been many cases where people have found the right deal for themselves. Hence, this is worth giving a shot. You have to take the right precautions when you are dealing with someone unknown.

Resource no. 5 – Broker Free Home Search platforms

There are a number of broker free platforms that have popped up in the last few years. They guarantee the listed properties are authentic and they make sure that brokers never get their hands on their personal information.

These are just some of the tools available to you to cut brokerage out of the equation and live a better life!

Different Types of Mortgages You Should Know

What is a Mortgage?

A mortgage refers to an understanding that permits a money lender to take property (and offer it to raise money) when a borrower neglects to pay.

In most cases, the term mortgage is used to refer to a home loan: when you acquire to purchase a house, you consent to an agreement saying (in addition to other things) that the house is “security” for the advance. If you don’t make the scheduled installments (for a while or more), your bank can abandon the property. In other words, the lender can constrain you out of the property, sell it, and gather the cash despite everything you owe.

Mortgage and “Home Loan” are often used conversely. However the mortgage is truly the agreement that makes your home credit work – not the loan itself. For real estate transactions, there should be written agreement, so a home loan is an archive that gives your money lender the privilege to foreclose on your home.

Types of Mortgages

Mortgages are regularly utilized by customers, but organizations can even buy property with this. Following are the types of mortgages you should know:

Altered Rate Mortgages:

It permits a borrower to realize what all future monthly installments will be. Since the interest rate is settled, your installments won’t change when you utilize an altered rate mortgage.

With an altered rate mortgage, you calculate to what extent it will take to pay off all the main and interest, and then you touch base at a regularly scheduled installment. You will pay the same monthly installment through the whole term of the altered rate mortgage. Of course on the off chance that you offer your home before the end of the term, you can simply pay off the parity that you owe.

Fixed rate mortgages are worth as they permit you to foresee what you’re lodging installments will be later on. Regardless of what happens with financing costs, your installments won’t change on the off chance that you’ve utilized an altered rate mortgage.

Second Mortgage:

A second mortgage is a loan that uses your home as security – like a credit you may have used to buy your home. The loan is known as a “second” mortgage in light of the fact that your purchase loan is often the primary credit that is secured by a lien on your home.

Second home mortgage taps into the value in your home, which you may have developed with monthly installments or through business sector esteem increments.

They permit you to acquire an expansive sum. Since the credit is secured against your home (which is by and large justified regardless of a considerable measure of cash), you have access to more than you could get without utilizing your home as guarantee. The amount which you would be able to acquire relies upon your lender, yet you may hope to get (tallying the greater part of your credits – first and second mortgage) up to 80% of your home’s estimation.

They frequently have lower financing costs than different debts. Again, securing the loan with your home helps you as it diminishes hazard for your lender. Second home loan financing costs are commonly in the single digits.

Sometimes, you will get a deduction for interest paid on a second home loan. There are various details to know about, so ask your tax preparer before you begin taking findings.

Conceded Beginning:

You may need a ‘conceded begin’ when you take out your mortgage. Conceded begin or poor start contracts permit you to defer the beginning on repayments on your home loan for various months. Your lender will charge interest on the home loan for these months and add it to the original loan. So your mortgage balance will ascend before you start to make repayments.

This can be a helpful choice that you are a first-time purchaser and need additional cash to outfit another home or make changes. Nonetheless, it will marginally expand the general expense of your home loan as the unpaid interest gets added to the sum you obtain.

How Much Should I Pay for an Investment Property?

Many people wonder if there is some formula to be able to reach reliably, the amount of money one needs to spend in order to invest in a significant gain of Investment Property. It is worth mentioning that more and more people have already started to deal with such real estate investments and also with remarkable results. This is because the housing market to hire is highly effective and can bring substantial profit and fast payback of the initial investment in less time.

Although each housing market correlations may vary, there is some items worth to know and to take into account when going to buy one Investment Property. One significant size is the CAP rate. The capitalization rate is the relationship between the amounts of net income from the rental of this house, with its total market value. The net income can be calculated approach if from the annual rental fee we subtract approximately a rate of 10% for taxes, maintenance, etc. If we divide this net amount to the real value of the house, we find the CAP rate. A remarkable CAP rate for newly built residence that do not require special maintenance should be about 8%, while for most old houses or repair this figure should be at least twice.

Another important factor that one must consider about the amount of money you spend on one Investment Property is how the local rental market is moving in this area. If, for example, invest in a house with low rental rate frequency, even if spend little money, this will harm us in the long term. Unlike the high rental rate can ensure us a risky investment. In this issue should be considered and the place of residence, as well as the direct benefits it offers, such as hospitals, banks, schools, etc.

Operating costs that this house will have should be the lowest possible. That money will be spent on maintenance repair and care of the house should be the less possible. This may help if several of these procedures you can take yourself. The less expenses the higher net profit and therefore easier to recoup the investment.

The amount of money you have to pay for one Investment Property depends on all these factors and therefore should be carefully choosing your moves. Investment as one understands with lower risk are those relating to new houses, modern, with several facilities, comfortable accommodation and easy maintenance. This means that the price of the rent of such housing will be high and our monthly income is quite important. Another good here is that if we want we can maintain the Investment Property for 10 years and then sell it at a very considerable value, something that will not be easily achieved by an old house.

Before You Purchase Your New Home

Before you start searching for your next house, these following tips will help you decide on what features you need in a home, help you prepare to move, and get your finances in order. Remember to take your time when looking for your next home. If you need a mortgage for your next purchase, finding the best program will involve some research and many questions to figure out your best option. There are countless mortgage options and down payment assistance programs available. Once you have your mortgage financing in order, determining the best location, features, and price range of your new home will take patience and the help of a devoted real estate agent.

Before you look at your first house, you should review your credit report and check it for inaccuracies. Once per year, you can get a free copy of your credit report at: annualcreditreport.com. Before you contact a bank or mortgage company, review the report and clean up any past issues and make sure there are no inaccuracies or mistakes. To qualify for a mortgage, you will need to meet the minimum credit qualification standards.

If you are a first-time buyer or have had credit issues in the past, it is a good idea to talk to your family and friends and ask them to refer a mortgage professional that they have had a good experience with when they applied for a mortgage. To apply for a mortgage, you will need at a minimum the following documentation: pay stubs, bank statements, tax returns, and other personal information. If possible, try and meet your loan officer face to face. This will give you peace of mind and reduce stress. If you are concerned your mortgage could be denied, be sure that you apply for a fully underwritten mortgage pre-approval. A pre-approval will take longer to complete than a pre-qualification, but it will eliminate unforeseen issues such as: employment history verification, residencies history questions, verified funds, past credit issues, and other potential problems. During the pre-approval process, your loan officer should thoroughly review any mortgage programs and down payment options that may benefit you.

Once your pre-approved for a mortgage. Review your budget and determine the maximum monthly mortgage payment that you are comfortable with and the total funds you have available to purchase your new house. When buying a house, remember to include all expenses, such as: upfront costs (appraisal fee, insurance, warranties, and inspections), down payment, closing costs, and moving expenses. Both the real estate agent and mortgage loan officer should be able to give you an itemized estimate of the likely expenses associated with purchasing your new home.
Next determine, what features you need and want in a house and what cities would be the most desirable to you and your family?There may be many well maintained and affordable homes available in your search area that have the features you are looking for. Make sure you prioritize your desired features. You may not be able to get everything on your wish list, but knowing what your requirements are before you get started will make your search easier.

Once again, you should talk to your family and friends and ask them to refer a licensed real estate professional that they have used in the past. You may spend a lot of time discussing home options and looking at potential houses with your real estate agent, so it is important to be able to rely and trust their opinion and expertise. Knowledgeable real estate agents should be able to listen to your wants and needs in a house; then be able to honestly tell you what you can afford and the areas you can find the most house for your budget.

What You Need to Know When Moving to a New State

1. Does it have facilities that you need on a daily basis?

You do not want to move to a new location and find that there are no grocery stores for you to get vegetables; you need to drive miles away. And it is not just a matter of availability; they should also be stocking commodities which are required daily. It should be convenient for you to shop at any time of the day. There should be schools, drug stores, hospitals and other important facilities near the new location, they should be accessible anytime of the day and night.

2. How is the environment, is it conducive to your needs?

Do you need a quiet neighborhood, or don’t mind the noise? Do you have children? Will they have an easy way to get to school? Does it snow in the winter, if so how good is the plowing service? How good is the garbage collecting service? are there nearby recycling centers? There are so many questions to be asked about a new area. It pays to ensure you have as much information as possible before deciding to move. You will enjoy your new neighborhood much more if the environment accurately fit your needs.

3. Who are your neighbors?

They say that we may not have the power to choose our neighbors but when you are planning to move, all the power rests in you. Although it might not be possible to know what kind of a neighbor you will have by just looking around or having a little chat, getting some information no matter how little could make all the difference. Avoiding a potentially negative experience with a neighbor can save much trouble and heart ache. It would always be good to know who your neighbors are, do they have lots of late night parties, do they have a son learning drums? or maybe they have children at the age as yours or old enough to babysit yours? Having information about the residents in a new neighborhood is extremely valuable.

4. How much will it cost to move?

Although this should not influence your decision to buy a property, you will need to consider this as some planning is required. Moving to some places can be expensive given the few movers in the area and also the attitude of the movers. You need to consider the cost if you have other home options, and are finding it difficulty to choose. It should not be overly expensive to move. Go for places where moving expenses are low, if all the other factors play out to your advantage.

5. Can I afford the lifestyle in my new location?

You may be moving to a location where life is a bit expensive compared to your current area. It might be a place where residents have to cut a niche for themselves. Do not go to a place where you may be forced to spend more than you can afford to keep up with the lifestyle. Move to a location where your income allows, do not struggle to pay your bills, you may be moving out to get a peace of mind only to start a life of endless debts, misery and stress.

It pays to consider these questions when making this crucial decision, it will make your move easy and enjoyable.

How to Rent a Home Safely

Renting a home can be tricky, and finding ways to make it a safe transaction take some time and diligence. There are different considerations that must be taken into account depending on whether you are a renter or a landlord. Let’s take a few moments to look at both sides.

Renting – the landlord side

There are a wide variety of reasons that you might have to rent out your house. Perhaps you are in the military and you are being temporarily assigned to a new duty station. Or you need to get a little extra income and you have space in your house for a college student to live in. Each of those reasons is perfectly valid, and has a different set of factors that have to be considered before the tenant moves in.

For everyone you rent to, a background check is always a good idea. It will cost you between $25 and $100, depending on how deep the check goes. The last thing you want is to be stationed in Germany, helpless to deal with a tenant who has damaged the house.

Second, you will need to find out if there are any additional costs involved in renting, like fees or taxes you will owe to the city for being a landlord. There may also be HOA considerations to be met or additional dues that have to be paid. You will also need to be financially able to handle the times when your house is not being rented, because that mortgage won’t go away.

To help oversee the tenants and to make sure your rent is collected properly each month, particularly if you will not be living on-site, consider hiring a property manager who can be your representative.

Make sure you also have enough of the right kinds of insurance beyond homeowner’s insurance. Your agent can help guide you so you have all of the right coverage.

The easiest way to determine what you should charge for rent is to do some research using sites like Zillow, Trulia, or Home Finder. This will give you an idea of what comparable homes are renting for. If you are only renting a single room, look at the apartment sections to get an estimate of a fair rent amount.

Renting – the tenant side

As a tenant, make sure you take out renter’s insurance to cover your own property and belongings inside the house or room. Your landlord should also have a rental agreement or contract for you to sign that will protect both of you legally.

Check other rental units in your area to see if the room you are considering is fairly priced. Do a quick Google maps search to confirm what you are looking at is the same as what you see when you drive past the place. And, when you contact the owner, make sure he or she is ready to meet with you or have his or her property manager meet with you if the owner lives out of state. Mailing you keys, rents below market value, and a Google search that turns up empty are all red flags of places to avoid. Also, if the landlord wants you to wire money to him or her before anything is signed, walk away and be glad you didn’t fall into a scam artist’s trap.

Whether you are the renter or the landlord, a little prep work ahead of time can save you a ton of grief later.