How To Lower Closing Costs

How To Lower Closing Costs

Closing costs help facilitate the sale of a home and both buyers and sellers pitch in. Some closing costs can be paid before the home is officially sold and others are paid at the end. 

 However, closing costs aren’t set into stone and they can be negotiable. You can ask your real estate agent or lender with help in estimating your actual closing costs. Look over everything to make sure all the numbers are right and then you plan accordingly in how you’re going to lower them.  

Loyalty Programs
  Some banks offer assistance to buyers when they use them to help pay for the purchase. It’s a way for a bank to reward loyal customers. 

 Closing at the End of the Month
 Schedule your closing at the end of the month so you don’t have to pay the per diem interest for so many days.  Get Multiple Quotes Get estimates from different lenders because you’re looking for the best package of closing costs and interest rates. There might be something better out there.  

Junk Fees
There may be some fees a lender charges that may be negotiable, such as origination fee, processing fee, or application fee. Make sure to ask if what you are being quoted is the best they can offer.  

Title Costs 
Sometimes title insurance and settlement are bundled together. You may be able to find a title and settlement company that is less expensive. 

 Negotiate With the Seller
You can try to negotiate with the seller in paying for some of your closing costs. Buyers can ask for credit or to cover lender expenses during the offer and negotiation process

DETERMINING THE RIGHT PAINT FINISH

Determining the right paint finish

Paint is one of the easiest ways to change the feel of a room – or even a home. A fresh coat of paint in a trendy color can update a room in an instant. Choosing the color is only one aspect of picking the right paint; the finish or sheen is also important to the look and feel of the space.  


Flat Finish
Flat finishes is exactly like it sounds – flat. There is no sheen at all. Today’s matte finishes reflect rich tones and are much more luxurious than the dull finishes of the past. Use for: 

• Ceilings
• Dinging Room
• Formal Living Rooms
• Adult Bedrooms

Satin Finish 

Satin finishes have just a slight sheen. These finishes reflect the light softly and provide a richer look and feel than flat paint. These are better for high traffic locations than flat.  

• Halls
• Baseboards 
• Family Rooms 
•  Children’s Bedrooms

Semi-Gloss

Semi-gloss provides even more shine. These paints can make a room seem larger by providing a slight gleam from the painted surfaces. Easy to clean, a semi-gloss paint works well in areas frequently cleaned.

• Kitchens
• Bathrooms
• Close Doors and Cabinets 
• Stair Rails and Banisters

Gloss

 A high gloss paint is the brightest available. These paints bring out the truest color of the paint and provide a durable finish for areas you wish to highlight. A high gloss paint works well for accents. 

• Wood Trim
• Doors
• Furniture

Each of these types of finishes has variations as well. Today’s paints are more luxurious with deep, rich pigments and more durable elements. Choosing the right color and finish can bring freshness and modernity to any room or home. 

Contact Me (Kristi Fenton) at Davis and Associates Inc., Realtors  if you have any questions on all of your home buying and selling needs. 

What to Repair in your Home Before you List

What to Repair in your Home Before you List

A lot of money goes into buying a new house so it is understandable if a seller feels hesitant investing even more money to fix up their current house prior to selling. However, sellers may not realize that some of the issues they live with everyday and consider minor, such as the hallway light switch or the kitchen sink that has plumbing issues,  may actually be considered major to home buyers.  These issues may even  prevent buyers from making an offer on a home or making a lower offer.  It’s crucial to keep your house presentable and in good shape before you list it on the market. That being said, read on to find out what repairs you might want to consider before you list on your house on the market.

  Roof Problems
A roof is one of the most important components of a home, protecting all that is underneath.  Additionally, roofs are major expenses to replace. Therefore, it is imperative to keep the roof well maintained and free of damage and leaks. Issues like water and sun damage, clogged gutters, and rotting will lead to bigger issues if not fixed timely. Tending to these items immediately will help prevent further damage and help present the home well.  Poor Maintenance Minor issues such as damaged flooring, paint chipping, and old carpeting can be easily fixed to give your home a renovation. Your goal is to make your home appealing so start by replacing anything that is heavily worn and adding a fresh coat of paint.  And these minor upgrades can be inexpensive because you’ll most likely see a return on investment.

 Plumbing
 Plumbing problems can result in minor or major issues and it is very important to take care of these issues right away as they can lead to further problems. Bigger problems such as water damage can lead to mold and easy fixes to leaky faucets can be replaced inexpensively.

Wiring Electrical problems can cause a wide variety of problems. Smaller fixes such as faulty switches, missing wire nuts, or damaged junction boxes can be fixed with a good electrician. Replacing a circuit breaker might be needed if they don’t match the amperage of your home. Some repairs are obvious to see and others aren’t so it’s a good idea to run a pre-inspection of your house before listing. After, review it with an Agent like me because I can advise you on which ones are the first priority.

Every property is different and each  home presents it's own individual attention before placing it on the market. To get your homes true value call me today to get things started. 

IS A BIGGER HOUSE REALLY BETTER

IS A BIGGER HOUSE REALLY BETTER

If you are looking for your next home, it’s naturally to assume that you should buy the biggest home you can afford. Certainly if you need a big home, then this is the right decision, but if not then there are other ways to maximize your investment that doesn’t include more square feet. Bigger isn’t always better. If you don’t need 4 bedrooms, then why spend your money on that? There are many other ways to spend your money. 

View- First let's get things straight- what constitutes a view? Well, for different people a "view" can mean different things. One person's idea of a great view may be a home that overlooks the ocean, while someone else prefers a lake or river. Basically any kind of scenic vista is usually considered to be a good view-mountains, hills, forests, vineyards. Then there are the man-made views-the city skylines are the most popular of these, whether it's on the outskirts of the city, or a loft apartment in the midst of Quincy's district , these can provide fabulous views if you like that kind of thing.
 View homes will always command higher sales prices than those without. If you enjoy a distant vista, use your money for a view and enjoy better returns when you sell.

 Space – Space is not only counted in square footage, lot size also adds value and enjoyment to a home. A bigger house and a bigger lot usually are worth more than smaller ones. It's not a simple equation, like "double the size, double the value," because there are so many factors involved in an appraisal. One of those factors may be how the size of the property compares to other homes nearby.

  Amenities – Ask anyone who has looked at upscale retirement communities about amenities and how they contribute to qualify of life. Golf courses and lake front homes increase value as well as value. On a smaller scale, look at the appliances that come with the home, finishes and materials (at your price point know what finishes should be expected built with the home in your price range), Ceiling, it is important to notice leaking ceilings, cracks in dry wall etc.

Location – The old adage of location, location, location is true. But why does location matter so much? for starters, you can't move a home - at least not easily or inexpensively. When you buy a home in a good location, it's usually a solid long-term investment. From the craftsman cottage in the historic downtown to a trendy urban loft in our cities district, choosing a home in the right location is critical to building value. 

 Choosing the right home is not simply about resale value, but that doesn’t mean you shouldn’t think about it. First and foremost choose a home that fits your needs and lifestyle, but if that’s not a huge house on the hill, there are other options that are just as good. The bigger house is not necessarily the best choice. 

Contact me to help you make the best choice for your investment.

Why You Should Never Skip A Home Inspection

Why You Should Never Skip A Home Inspection

Buying a home can be expensive. It might feel like once you’ve entered escrow, you have new things to pay for at every turn. While the fees are normal and customary, if you don’t buy a home often, you might wonder if they are all necessary.

 One expense that is often discussed is inspections. What inspections do you need and how should you choose the right person to perform them. During the home inspection contingency period, you have a right to perform as many investigations as necessary to determine the condition of the property you are buying. 

Typically you will want to make sure there are a home inspection and a termite inspection. Other options could include a mold inspection, radon inspection, well/septic tank certification, roof inspection and pool/spa inspection. The type of inspection is determined by the condition of the home. Most buyers start with the basic home inspection.

What is a home inspection? It is a visual, non-invasive inspection of a property. There are usually seven systems observed during the inspection; the Attic and Roof, the Basement and Foundation, Plumbing, HVAC, the Interior Living Space, the Homes Exterior, and the Electrical System. Throughout the process the inspector assesses the home's safety, operation and the condition of it's various systems. A home inspection can protect you and your money by showing you where things are past their prime, or if something is in great shape. The inspection isn't for the lender, your Real Estate Broker, or the Seller-it's for "you" the buyers. When or if your home inspection Report reveals a defect, it gives you an opportunity to go back to me "your agent" and decided if you want to renegotiate the price or even walk away from the deal. 

 Home inspections are very important. Never judge a home by it's facade. Every buyer should know what they are buying. The more you know the less surprises you will have down the road. There is no substitute for a proper inspection by a licensed home inspector. You might be handy or have a handy friend, but the home inspector is experienced in identifying problems and potential problems so you can make an informed decision about moving forward with the sale.

Tips on buying and selling your home at the same time

Tips for buying and Selling at the same time! 

Either buying or selling a home can be extremely stressful, it can be even more overwhelming if one is trying to do both at the same time. Adding in the additional stress of moving now having to sell first to move or is it the other way around? In an ideal world, you'd buy a new home, move, and then, and when all the dust settles deal with the turmoil of selling. But for most people, that's totally unrealistic. Not only does it cost significantly more, since you'll be paying two mortgages, but sellers might be quick to judge if you're holding on to your current home.  The good news is that this happens all the time and by following a few simple tips, both buying and selling can be a seamless process. 

Tips for Buying and Selling at the Same Time

Contract Contingency: Buyers can request that their new home purchase be dependent on the successful sale of their old home. If you're looking in a competitive market, this may not be a good option; however, if the seller of your intended home has had difficulty attracting interest, this may be a good deal for all parties involved-assuming you can convince them that your home will sell quickly. 

Bridge Loans: A bridge loan allows you to own two homes simultaneously if you don't have deep pockets for a second down payment. This option is especially attractive if you'd planned to sell your home first and use the proceeds to buy the second. It functions as a short-term loan, intended to be repaid upon the sale of your original home. 

(Make sure to talk to your agent and lender to know what is best for your individual real estate needs)

The good news is that you’re planning to move any way. Before you list your home for sale, why not start packing now? Take personal items and excess furnishings and pack them up and move them to storage. Not only will your home look larger and neater, you are getting a start on the move. 

Next make sure your agent, understands the timeline and requirements. There are many standard contingencies which can protect you from owning two homes at once, or none at all. Not only can the purchase of your new home be contingent on successfully closing on your current one but you can also reverse the process and ensure you find a replacement before the close as well.

 Finally, get the entire family involved. Be excited about the change and create a moving plan in which everyone has a task and there is a plan for the move itself. By taking a few initial steps, moving can be fun and easy. 

Having the right person representing you can be the difference between calm smooth process and a nightmare. Don't sell yourself short by not being protected and advised in a huge home purchase and sale. It is essential to be advised by the best. 

Contact me Today to help you ease your anxiety and let me navigate the market for you! 

The Internet Can't Replace Your Agent

The Internet Can’t Replace Your Agent

 We live in the information age; the Internet offers advice on every topic and real estate is no exception. With more and more home buyers starting their home search online, they are bombarded with advice and information – it can be easy to think that you can learn everything you need to know just by reading articles online. 

The truth is your real estate agent does much more than answer your questions and open doors with a special key. A professional real estate agent will be there every step of the way. They have the experience necessary to navigate the complicated home buying process and solve common hiccups that present themselves in every real estate transactions,

 Your real estate agent is a local professional. They will start by presenting themselves to the buyer’s agent as someone who will work with them to see the transaction through to a successful conclusion. They have a network of professionals who will work as a team to help you through the process. These include such professionals as: lenders, title reps, escrow officers, transaction coordinators, home inspectors, contractors and handymen, among others.

 Most importantly, your agent is your ally in the home buying process. They negotiate on your behalf – armed with experience and understanding of customary charges, costs and terms. They will ensure that the price you pay for the home is fair for the condition and neighborhood. They will negotiate repairs, if needed and make sure you are protected with the proper contingencies. 

The Internet offers lots of great information, but the most important step you can take when buying a new home, is hiring a local professional real estate agent. Their knowledge and expertise can’t be found by reading an article or two online.