How Much House, Can You AFFORD?

If you wish, to enjoy, the happiest experience, from your home, doesn’t it make sense, to avoid the unnecessary stress and tension/ hassle, from buying, a place, beyond your comfortable, financial – means? In my, over 15 years, as a Real Estate Licensed Salesperson, in New York State, I have come, to believe, the happiest home buyer, is, almost always, one who purchases a house, he can AFFORD, which meets most of his key needs, and requirements/ personal priorities, etc! How much house, can you AFFORD? This question must be considered, seriously, before purchasing, what to most of us, is our single – biggest, financial asset. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, using the mnemonic approach, what this means and represents, and why it matters.

1. Assets; attention; assumptions: Begin the process, by carefully reviewing all your current assets, and determining, how much, you feel, comfortably, is needed, to maintain, your perceived, nest – egg! During this consideration, one must pay keen attention, to his, other – than – housing needs/ expenses, and, what, he can really afford! It’s important to align one’s assumptions, with a well – considered, focus, on aligning your personal comfort zone, with, your true needs, etc!

2. Finances: Take a close, objective look, at your total financial picture, both, at – present, and into the future! How can anyone, fully enjoy their home, unless/ until, they examine their finances, and, objectively, know, what is currently, within their means, and, perhaps, their future potential?

3. Future: What is the objective of the house purchase? Are you considering it, as a starter – home, or your longer – term solution, to your, and your family’s housing needs, requires, and wishes? Depending on this, and, what the future, might bring, your decision, and action, should vary!

4. Options; opportunities; organized: What are your options, in terms of financial affordability, personal comfort zone, region/ area/ neighborhood, commuting to work, safety, etc? Does a specific house, often, any opportunities, because of it’s bones, region, area, neighborhood, lot – size, safety, schools/ educational system, etc? Your search will be better and more effective/ focused, if/ when, you proceed, in an organized manner!

5. Revenue; realistic; reasons; region: Is a single – family house, best, for you, or would you be better off, and feel more comfortable, with owning and living in a multi – family residence? If so, what is the probable, revenue source? Is your approach, realistic, and are your reasons, in your personal, best interests? Is there any flexibility, in terms of the region, etc?

6. Delve deeply; discover: Go beyond the surface, and delve deeply, into your best interests, etc, so you might discover, the best path, for you!

If you know, and are comfortable with, knowing what you can, truly, AFFORD, you will benefit. Are you ready to proceed, wisely?

Hey Buddy, Wanna Buy a House? Or What Do Realtors Actually Do for All That Money

Real estate as a profession has been around as long as there has been a United States and yet many people have little idea how Realtors actually function. This understanding is exasperated by the fact that no two Realtors practice in the exact same way. While the aim is the same, the methods employed are often quite different. Still, the basic process remains unchanged.

This matters because both buyers and sellers are often challenged by their living situation–or lack thereof–to the point of severe stress both emotional and financial. Understand the process can be a great help.

Buyers, for instance, tend to think of real estate sales persons as someone who wants to sell them a house, that they will even try to talk a person into buying a particular property in order to make another commission. While some new licenses may start out like a glorified used car salesman with this idea they rarely last. Over 70% of new agents fail in the first year.

What actually happens is the Realtor learns all they can about a person’s needs and finances and combs the market for a home to fit those needs and financial limitations. This last issue is usually the toughest. Buyers strive to get the most home for the least cost and sellers strive to sell for the highest price. Add direct competition from other buyers and the landscape can be challenging at best.

This is where a good Realtor is worth his or her weight in gold. Well, maybe not their weight in gold, although this may be true in some cases, but a considerable amount of money at a time when financial resources are usually stretched to the limit.

Helping a buyer into the right home at the right price is the job and Realtors have been doing just that for as long as there have been Realtors. If they didn’t they would have gone extinct ages ago especially in today’s computer driven markets.

Once the right home is found the job is just beginning. The best price and terms must be negotiated. This is an art in itself and can save the home buyer a sizable fortune. Here’s where the network of Realtor affiliated with the Multiple Listing Service (MLS) and the National Association of Realtors (NAR) comes into play.

Both the buyer and the seller are typically represented by separate agents, each legally required to serve their client’s needs and no other. Buyers and sellers do not directly interact. This single factor facilitates successful agreements more than any other means since Realtors as experienced negotiators can put together deals that individuals usually cannot as witnessed by the staggering rate of negotiation failures experienced by FSBOs (For Sale by Owner sellers working without representation)

Once the deal is struck the next challenge is getting to the closing table through financing, home inspections, attorney and title hang-ups and even timing. The previous owner must leave at the same time the new owners are ready to move in. This is often on the same say, the day of the closing. Here too expertise pays off while sellers who manage to strike a deal experience major fall-through issues and failed closings forcing them to start over with all the accompanying costs and missed opportunity.

Realtors facilitate successful transactions not by pushing their own agenda but by expediting their client’s needs and goals.

Not only is trying to sell someone a home counterproductive in a world of cautious buyers it undermines an experience agent’s foundation for continues success in the profession: repeat customers.

Sellers too often labor under misconception about the process of selling their property. If they gave it any consideration at all they might think that what doesn’t really happen to buyers actually does. No successful agent goes out and tries to talks someone into buying a house.

What actually happens is much like marketing any product or commodity. Simply put, the Realtor promotes the listing to the buying public in the best possible light. This process too is greatly facilitated by MLS associations as a repository of homes for sale. The MLS is the single best source for home sales in the country where over 90% of buyers find their home through agents affiliated with a regional MLS. The goal is that no one interested in buying a home is left unaware of the seller’s offering. And that the best possible light means the place must show well and the price must be competitive with other similar homes since buyers will always choose the best home at the best price.

This can be as much of a challenge for sellers as it is for buyers. Again, the seller is looking to maximize their investment which does not usually include fixing the place up. If they wanted to make improvements or repairs they wouldn’t be selling in the first place and for the price they are getting the buyer should be willing to accept less than picture perfect–at least that’s often the common thinking. This is just as reasonable as buyer’s being put off by homes that need work and in their opinion overpriced but not conducive to anyone getting what they want and need.

What results is conflict–almost every time. Solving these innate issues is what Realtor do best: Finding the right home for the buyers based on their needs not their own. Or market the seller’s home effectively to bring in a ready, willing, and able buyer. Then making it work for both parties all the way to the closing table and a fine new home for the buyer and a big check for the seller to enhance their bottom line as well as their living situation. Not bad, not bad at all.

Is It Good To Let Your House Stay On The Market During Holidays?

If you think that only the warmer months of the year are good times to sell your house, think again. The colder months brought by the upcoming holiday is also a good opportunity to sell your house. Listed below are some of the reasons you can take advantage of.

Fewer home owners sell during holidays.

The holidays, specifically Christmas, send signal to many homeowners that it is an inappropriate time to let their homes stay on the seller’s market. Many homeowners are also busy with their shopping lists, gift-giving, and Christmas parties.

This creates a unique opportunity for you because their will be fewer competitors. This means more chances for your house to get noticed by more buyers who are also taking the opportunity to buy their new homes.

One precaution to observe is to have your house in its best show condition. Have it clean, simple, and attractive.

Home buyers during the holidays are serious buyers.

The Christmas season is a time when most people busy themselves with various activities related to this festive time of the year. Do you think home buyers during this time will waste their times just to make fun of the homes listed in the seller’s market?

There are various reasons prompting home buyers to grab the holidays as a more serious time to buy a house. There are some who are relocating when the year changes. There are also some people who buy homes for tax reasons. Some buyers also grab the holiday vacations to actually conduct ocular of the houses they see on listings.

And because the holidays is a very busy time, be sure to adjust your showing times to the schedules of potential home buyers.

Less hassles to make your house attractive.

Home staging may be a difficult process to homeowners. But because you are selling your house in a time when decorations are fittingly good additions inside and outside your house, you can be sure that it will bring less hassle to make it more attractive.

Be sure to add decorations that will make the overall atmosphere joyous. Do not over decorate that will tend to make your house look and feel cluttered. You can let your house be a mirror of a home in which your potential buyers can imagine themselves celebrating their next holidays on it.

If your house has spent months in the seller’s market. Do not lose hope. This holiday can be the perfect opportunity for buyers to notice it.

And if you need some professional help, your local real estate agent is always a call away to lend his or her expertise.

Buying Tree House Plans

Learning to construct your own Tree House on a beautiful summer weekend can become a very educational woodworking project for you and the bored kids. But before you try buying Tree House Plans there are a few very important things to take into consideration. Making sure that you have the support of your family is always a first. Then choosing your design or plan so you can create an average time line is essential. This article will try to summarize the basics everyone should know before attempting any beginner or advanced level Tree House woodworking projects. Hopefully this makes constructing your new Tree House or Playhouse a lot easier for you and your loved ones.

The first thing to be done before even choosing your template or blueprint is making a decision on where to build the Tree House. Site selection will be an important part in choosing the design that can be built. Is there going to be proper room for the design choice? Anyone know the types of trees that should be used, the best size or shape? knowing such things can be a defining factor of what Tree House design might be chosen. This brings us to the next subject of which Tree House Plans are most convenient for all involved.

When we finally have made an educated guess on the area going to be used, we can choose the design or type that everyone is comfortable with constructing. After the design is chosen one can assess what equipment and the type of materials needed to accomplish the task at hand. Some greenhorns or novices might be too scared to use certain power tools which could result in a possible accident. So knowing the difficulty level of the project might also be a factor in the design choices.

A good example of the difference between a prebuilt set and a Do-It-Yourself one, is when my buddy purchased his and I built ours. After my buddy took two weekends to assemble the package he realized it was missing some crucial pieces to finish the job. He then tried to return the kit only to find out there were no more like it in storage and that his model was discontinued. Just to add fuel to the fire he then found out that the max load per child was very low. The one I built was easily customizable and could withstand all four of my kids. These are another couple of points to consider when learning how to construct your own Tree House.

Finally with all these other steps done, the cost can be calculated and checked to see if it is within the budget. Knowing what tools are needed and if they are available or have to be bought can also be a factor. What type of materials are going to be incorporated is another issue in the price. But if anyone was to compare the difference in price between a store bought prefabricated playhouse package and a Do-It-Yourself one they would see that building your own is always cheaper, easier to customize and more fun for the whole family.

I guess looking back at all the information that is given here it still does not seem that simple to construct your own Tree House or Playhouse. Something seems to be missing, like a full set of your very own plans showing everything needed to construct that custom Tree House. But now with the various tips and suggestions made here, making an educated decision on which Tree House Plans to implement into the backyard will come a little easier.

A 5 – Step Plan To Prepare To Buy A House

Although, owning a home of one’s own, is often considered, a major component of the so – called, American Dream, wouldn’t it make sense, to effectively, plan, to ensure this doesn’t become a nightmare, instead? After, over fifteen years, as a Real Estate Licensed Salesperson, in the State of New York, I have created, what I, often, refer to, as the RICH IDEAS, for proceeding, wisely, in terms of buying a house. With that in mind, this article will attempt to, briefly, consider, examine, review, and discuss, a 5 – step plan, for properly, effectively, wisely, being prepared for this process, and proceeding accordingly.

1. Put together/ accumulate sufficient funds, for a variety of requirements and necessities: It’s smart to proceed, as well – prepared, as possible, from the beginning. Well – before, you start searching for a house, begin saving money, in a systematic way. Remember, you will not only need funds, for the down – payment (often, but not always, 20%), but, also, funds for other Closing Costs, including, but not limited to, pre – paid real estate taxes, utilities, and other, so – called, escrow items. In addition, most lending institutions require a demonstration, and proof of funds, equal to several months, of mortgage payments.

2. Obtain a copy of your Credit Report (if husband and wife, get both): You are entitled, once per year, to request a free copy of your Credit Report, from one of the major credit organizations/ companies. Review this document carefully, and correct any errors. If your rating is not, as high, as a lending institution may seek, begin to take steps, to enhance and improve it, sooner, rather than later!

3. Pay – down other debt: Lending institutions use formulas, to determine one’s qualification, to receive funds. These are generally, focused on, one’s percentage of debt to income. Therefore, pay – down your other debt, prior to beginning the process!

4. Don’t add any other debt: Avoid acquiring any more debt, regardless of how convenient, and/ or, appealing, it may seem, at the moment. Don’t fall into the trap, of, accepting new store charge accounts, because doing so, may compromise your credit worthiness, when you seek a mortgage!

5. Shop for homes, within your means: Avoid the trap, of becoming, house – rich, and seeking to purchase a home, beyond your comfortable means! Know, how much, you can afford, comfortably, and securely, so you choose, wisely, and remain, comforted!

Since, for most of us, the value of our house, is our single – biggest, asset, doesn’t it make sense, to proceed, carefully, and wisely? Will you be up to this task?