Scammers phish for mortgage closing costs

What Kind of Homeowner’s Insurance is Right For You?

When you’re wading through the legalities of buying a home, the process can be daunting, especially if you’re a first time buyer. Interest rates, mortgages, and appraisals, oh my. Read on as we weigh in on what type of homeowner’s insurance is your best bet.

For most buyers, a standard insurance policy will do. These basic policies protect against several natural disasters and catastrophic events. However, it will not guard against earthquakes, floods, war, and nuclear accidents. Looking for a little extra disaster coverage? The policy can be expanded to include these disasters as well as coverage for such things as workers’ compensation. In fact, the lender may require that you purchase flood or earthquake insurance if the house is in a flood zone or a region susceptible to earthquakes.

Looking for even more coverage? You can increase coverage beyond the depreciated value of personal property, such as televisions and furniture, by purchasing a replacement-cost endorsement. And dome-based business-coverage, once overlooked, is an increasingly popular rider. It does not cover liability associated with the business but rather contents such as home-office equipment and general liability to cover injuries to clients and employees.

Other considerations: an inflation rider, which increases coverage as the home’s value rises, and getting insurance that is equal to the full replacement value of the home. In these instances, insurance companies usually require an amount equal to at least 80 percent of the full replacement value. Otherwise, only a portion of the loss would be covered.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

4 Tips for Selling Your Home in Winter

Cold winter months are short on light, sunshine and home sales, and buyers are focused on family and holidays. Traipsing from home to home to find the perfect fit is not always so appealing during this timeframe. However, just because selling slows in winter doesn’t mean you can’t sell your home. In addition to following traditional selling guidelines (price competitively, implement proper staging), consider a few of the following cold weather tips:

Keep it accessible. Nothing will throw off your showing faster than potential buyers who can’t make it up the drive. If it’s snowy or icy, be sure a clear, accessible path is available. This means keep the driveway and front walk clear and ice free. Not only will this ensure potential buyers can access the space with ease, it will also show them the home isn’t hard to maintain in the winter.

Keep it cozy. Be sure your home is warm and inviting. If you have a working fire place, get it going, but make sure you have proper ventilation to avoid a smoky living room or worse—a fire! To up the cuddle factor, add extra fluffy blankets and throws to the ends of beds, the arms of couches and the backs of chairs.

Keep it holiday neutral. While you should definitely decorate for the season, going Christmas-overboard could turn off buyers who don’t celebrate that holiday. Keep it holiday neutral by adding twinkling lights and holiday colors but avoiding specific religious tags.

Keep it bright. When the days are shorter (read: darker), it’s more important than ever to have a well-lit home. Throw back all curtains and blinds during the daytime, and add extra lighting. Placing spotlights behind furniture can create a nice, soft ambient glow.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

http://www.inman.com/2015/10/06/10-questions-you-should-ask-lenders-regarding-trid/

From obtaining a mortgage to keeping up with repairs and renovations, some millennials find ample excuses to rent instead of buy. However, the satisfaction that comes with owning your own space (and from not flushing away thousands of dollars a year on rent) is hard to beat.

Among the most appealing aspects of being a homeowner is the most obvious: you own your home. This gives you, instead of a landlord, control of your living space. Want to refinish your basement, add a swanky outdoor living space or knock down a wall? You’re free to do so.

Other benefits stem from potential tax savings and the buildup of equity as your property likely appreciates in price over time. Equity can be used to help put children through college, purchase a second home, or make home improvements.

The mortgage interest paid on a home loan is tax deductible, as is the local property tax. If you get a fixed-rate home mortgage loan, you can also invest more wisely knowing that your monthly mortgage payment, unlike rent, will not change substantially.

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

How to Draw Up a Contracting Contract

So you’ve chosen a contractor for that construction project. Great! Now it’s time to draw up a contract. Read on for the ins and outs of what should be covered in that contracting contract.

According to the National Association of the Remodeling Industry, a well-written contract should contain the following information:

• The contractor’s name, address, telephone and license number, if applicable
• Details about what will and will not be done
• A detailed list of materials for the project, including model, brand name and color
• The approximate start date and substantial completion dates
• A written notice of your right to cancel a contract within three business days of signing, without penalty – provided the contract was solicited at some place other than the contractor’s place of business or appropriate trade premise
• Financial terms that are spelled out clearly, including payment schedules and any cancellation penalties
• A one-year minimum warranty identified as either “full” or “limited” to cover materials and workmanship, as well as the name and address of the party who will honor the warranty
• A binding arbitration clause, in the event a disagreement occurs

You may also want to include a statement that you will not be responsible if payment to the contractor’s subcontractors and suppliers are not made. Don’t forget to establish that the contractor should obtain all the necessary permits and that all blank spots in the contract be filled in with phrases like “does not apply.”

As a Member of the Top 5 in Real Estate Network®, I have a wealth of real estate and homeownership information that may be of help to you. Feel free to contact me any time to learn more about this important information, and be sure to forward this article on to any friends or family that may be interested as well.

Sincerely,

Here’s a weekly market update! Great video about purchasing a “Flipped” home.

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New information on buying “flipped ” homes.