March 2016

Found 34 blog entries for March 2016.

 

A real estate home sale transaction can become very tricky when simple problems occur that could have been identified by a professional home inspector.  In fact, simple problems become huge problems when they hold up the final sale of your home.  Perhaps you haven't considered the importance of preparing for a home inspection, one of the most integral processes in the successful sale of a home.  Home inspections can prevent the seller from having to expend lots of time and money.  

Home inspectors commonly encounter the following issues during home inspections:

WINDOWS

Any room that is listed as being a bedroom must have a functioning window with 30 square inches of clearance.  In the event of a fire, this window should be accessible as

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For many U.S. homeowners, real estate represents a large portion of wealth.  Nearly one-third of the average American's net worth involves real estate.  Many investors are attracted to real estate due to the sheer size and scale of the real estate market and the capactity for lucrative returns on investments.  Lang Premier Properties recognizes four major factors that heavily influence the real estate market:

DEMOGRAPHICS

Demographic statistics are often overlooked, however they heavily affect real estate pricing and demand.  Significant changes in the demographics of a single nation have the ability to impact real estate trends for many decades.  Baby boomers represent a strong example of a demographic trend which has largely influenced the

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Emotions and preconceived notions can cause significant hang-ups during a real estate transaction and sellers often question why they should be responsible for a buyer's closing fees.  Many sellers reason that buyers who cannot afford to pay their own closing fees probably shouldn't be involved in the home buying process at all.  However, committing to the payment of closing costs on behalf of a buyer can result in a much faster sale of your home as well as more money in your account at the end of the transaction.  While paying a buyer's closing costs isn't an absolute must, it certainly is a powerful bargaining chip.  For example, consider that you receive two offers on your $400,000 home.  One offer is is contingent upon your agreement to pay

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Spring cleaning is on the minds of many home owners.  Cleaning can lead to various home improvement projects which can enhance your home's appearance and performance.  Not all home improvement projects require a caviar budget.  In fact, Lang Premier Properties suggests five home improvement projects under $1,000 that are sure to be crowd pleasers for prospective buyers. 

BASIC SIDING REPAIR

Winter can wreak havoc on a home's siding.  Especially for Michigan residents.  Aluminum and vinyl siding are easily dented and damaged by hailstones.  Painted wood siding is susceptible to moisture damage during colder months and frequently requires repacement of such damaged areas.  The repair of siding aids in strong curb appeal in many cases and

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Senior citizens are rocking the home equity department!  Roughly $140.2 billion increase in the aggregate value of senior citizen owned homes is resulting in equities of $5.83 trillion and fueled the NRMLA/RiskSpan Reverse Mortgage Index to the highest of its high in the fourth quarter of 2015 from the third quarter's 198.53.  

On a year-over-year basis, The National Reverse Mortgage Lenders Association reported an index increase of 8.1 percent in 2015 and 2014 reflected an increase of 7.8 percent while 2013 came in at 17.5 percent.

 

Savings, social security, and pensions are now being stabilized by these significant gains in senior home equity.   Home equity is proving to be a valuable source of income for millions of seniors who do not

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Home prices are on the rise country-wide.  Interest rates continue to remain "interesting" as they continue to defy expectations of increase, thus soothing the anxious home buyer.  

The United States boasts 27 metropolitan areas where the median price of a house rests at a comfortable $222,7000.  In the fourth quarter of 2015, a 20% down payment would require a minimum income of $51,114, which is slightly belowe the median annual wage of $53,000.  

While it is quite true that all real estsate is local, a median priced home in Pittsburgh of $128,000 costs about a sixth of what it costs to buy a median priced home in San Francsico.  This means that Pittsburgh residents need only to earn an annual salary of $31,134 in order to purchase a

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Major financial changes occur when purchasing a new home.  It is important for lenders to be assured of the financial stability, responsibility, and viability of those to whom they are lending copious amounts of money.  Unfortunately, many things in life are bound to change faster than you can say "bottom line".  While staying on track during your mortgage loan application process might seem like a difficult task, here are five easy guidelines to make sure your financial train does not derail:  

1. - EMPLOYMENT CHANGES

Whatever you do, DON'T CHANGE YOUR EMPLOYMENT STATUS!  As previously stated, some things in life are simply unavoidable.  However, and if within your power, please try not to change jobs while wading through the mortgage

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Selling a tenant occupied house can be a blessing or the bane of a landlord's very existence.  Answering such detailed questions as "Where do I start?", "Do I sell the property, tenants included?", and "Will my tenant wreck my house while I am trying to sell it"? can be more than discouraging for tenant-occupied property owners.  In their desire to be helpful, tenants might actually deter prospective buyers from the sale of a home.  On the other hand, the prospect of gaining an automatic tenant could be a key selling feature for the property.  Either way, odds can be drastically improved by following five key principlels.

1. - COMMUNICATION

There are no laws against selling a property while it is occupied by lease agreeing tenants.  Actually,

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Proper research regarding home sales in your neighborhood can give you a leg up when selling your own home.  In fact, there is much to be gleaned from the study of your neighbor's home sale if it is comparable to your own home.  If your neighbor has performed upgrades or perhaps even struggled to sell their home, Lang Premier Properties suggests four tips for learning from your neighbor's successes and failures:      

1. It's Good to be Nosey!

If you and your neighbor are BFF's, they might be willing to share with you the varioius reactions they have been getting to their home.  Perhaps they might even invite you to attend their open house.  Listen to the comments of others while walking through the home.  If you hear comments about

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Mortgage payments are traditionally monthly bills.  When submitting payments on a monthly basis, your monies are applied to the principal of the loan, the interest, AND the escrow.  However, most mortgage lenders offer a biweekly payment plan which allow for mortgage holders to pay every two weeks rather than once a month.  Biweekly payment plans sound easy enough and it would seem that the balance of the loan would be reduced at a faster rate, resulting in less paid interest over time, faster build-up in equity, and paying of a mortgage way in advance.  This option can sound extremely appealing, but it is important to understand the disadvantages to such a payment option and whether or not practicing this financial option on your own might be

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