Monday, October 6, 2008
Wednesday, December 26, 2007
Thursday, October 25, 2007
Thursday, October 4, 2007
Dennis' 1st-Time Home Buying Steps
Here is a Step by Step Guide:
by: Dennis McVeigh
1. Have an idea of what you're looking for: Ask yourself, 'What do I need in a home?' and 'How do I intend to use it?'. Write down a list of must-have home features. Then write a separate list of ideal features that you like but could live without - It's okay to dream a little on this list, just allow for flexibility.
2. Figure out how much you can afford: Review your finances. Make use of Mortgage/Financial calculators that can be found on many reliable real estate websites. These tools will show you what your payments will look like with different down payments, terms, and interest rates. You will not only feel empowered in evaluating your situation - you will also be a few steps ahead when it becomes time to proceed.
3. Myth Buster - 'The Perfect Home is Out There!': The perfect home doesn't exist. If you seek perfection here you might as well chase a mirage in the Sahara Desert. The two lists you just wrote will be your compass. You will find features in a home that are fantastic, and others that are lacking or could be improved. Ask yourself, 'Can I live without this feature?', or 'Do I have the time & resources to be able to improve this feature?'. If the answer is 'Yes' then keep the property in mind. If you answered 'No', then simply move on. One exception: If you answered 'No' but you just can't get this home out of your thoughts - then explore your options! It cannot hurt to ask if the owner can assist in making improvements.
4. Knowledge is Power: Make some time to read about what is going on in 'Your' market. Get opinions from various sources to draw your own conclusions. It's good to have the national forcast, just keep in mind that the real estate market is also a regional market. For example: What is happening in California or the mid-West may be different from what's happening in New York City or Philadelphia. It is also possible that the market in a large city will differ from its surrounding suburbs.
5. Loan Shopping before House Shopping: Many buyers shop for a house first and become frustrated when the process is being held up because of a loan approval. The outcome may be such, that when you find the right home and decide to make an offer, you might not be considered if another potential buyer who is pre-qualified submits an offer that is agreeable to the seller. For almost every buyer (and seller), the clock starts when you say 'Yes, I'm very interested'. No one likes delays, especially you - so don't put yourself through this. Compare lenders and programs. Also, inquire about pre-approval offers. Additionally, you may want to check and see if you qualify for a government home buying assistance program. Visit HUD.gov as well as your own state government website.
6. Home Shopping - with a Real Estate Agent: Now that you have an idea of the market and how it applies to you, why not seek the assistance of a professional? To quote the above source "Remember that fees for his/her service are paid by the seller. If you are a first time buyer with no home, you pay the agent nothing." Besides, if you are busy like most people are, then it's great to know there is a professional looking to find the right home for you. Another point is that unlike friends or even family that may tire of hearing you debate and thinking thru your decisions, a real estate agent should always be available or should have an interest in getting back to you as soon as possible. (Resource Ex: http://www.philahomesale.com )
7. Know who you are talking to: Your agent should disclose his/her relationship with you. You need to know whether or not the agent is representing you or the seller. The agent should make this transparent. You must also know that the situation may differ with each property you look at. For example, The agent may take you to a property that is not his/her listing which could suggest the agent is representing you. Then, the same agent may show you a listing where he/she is representing the seller. Don't be afraid. Just know where you stand.
8. Make them an offer..they might refuse: Don't be afraid to negotiate. Just know that every seller and every property is a different scenario. Just as you are looking to make the best decision, the seller wants to do the same. Communicate with your agent about the negotiation process and the options available. It's also common to get nervous, especially when you make an offer and you don't hear back the same day, or even the next day. Try to remain calm and analytical. It takes time for your agent to reveal the seller's position and negotiability (if any). When your agent has taken time to research he/she can better provide you with accurate solutions or the next-steps. Be prepared if your first offer isn't accepted. A fair and healthy negotiation often consists of some compromise on both sides resulting in a decision that both parties are satisfied with. Next, when you have an agreed sale price, carefully read the initial purchase & sale agreement. Discuss any changes you wish to make with your real estate agent, and if you wish, a real estate attorney, before signing the agreement.
9. Home Inspection: Make sure you have read and received the property disclosure statement. This will give you an idea of the property's true condition and what (if any) renovations have been made. The inspector you select should be qualified and experienced in residential inspections. It's also advisable to ask for testimonials before choosing an inspector. The inspector should allow you to be present throughout the process, and provide you with a timely written report in 24-48 hours.
10. Homeowners Insurance: It is important that you have your insurance ready before you sign the papers, and be able to provide proof that it is effective. Search for various providers to obtain quotes, receive advice on buying, and how to keep insurance costs down.
11. Signing on the dotted line: The signing process normally takes a few hours, so you will want to clear your schedule on the day you are to take legal possession of your new home. It's important to not be in a hurry. You want to be certain that nothing is overlooked and that all of your questions have been answered. Don't be afraid to ask any question either. If you are not comfortable with something, make sure to ask & handle it at that moment. Remember, this is YOUR moment. Don't allow anyone to distract or rush you thru the process. Take a deep breath, get the answers you need, and follow the process systematically. In doing so, once you've completed you can then celebrate your achievements - even reveal your excitement, if you wish. :-)
by: Dennis McVeigh
1. Have an idea of what you're looking for: Ask yourself, 'What do I need in a home?' and 'How do I intend to use it?'. Write down a list of must-have home features. Then write a separate list of ideal features that you like but could live without - It's okay to dream a little on this list, just allow for flexibility.
2. Figure out how much you can afford: Review your finances. Make use of Mortgage/Financial calculators that can be found on many reliable real estate websites. These tools will show you what your payments will look like with different down payments, terms, and interest rates. You will not only feel empowered in evaluating your situation - you will also be a few steps ahead when it becomes time to proceed.
3. Myth Buster - 'The Perfect Home is Out There!': The perfect home doesn't exist. If you seek perfection here you might as well chase a mirage in the Sahara Desert. The two lists you just wrote will be your compass. You will find features in a home that are fantastic, and others that are lacking or could be improved. Ask yourself, 'Can I live without this feature?', or 'Do I have the time & resources to be able to improve this feature?'. If the answer is 'Yes' then keep the property in mind. If you answered 'No', then simply move on. One exception: If you answered 'No' but you just can't get this home out of your thoughts - then explore your options! It cannot hurt to ask if the owner can assist in making improvements.
4. Knowledge is Power: Make some time to read about what is going on in 'Your' market. Get opinions from various sources to draw your own conclusions. It's good to have the national forcast, just keep in mind that the real estate market is also a regional market. For example: What is happening in California or the mid-West may be different from what's happening in New York City or Philadelphia. It is also possible that the market in a large city will differ from its surrounding suburbs.
5. Loan Shopping before House Shopping: Many buyers shop for a house first and become frustrated when the process is being held up because of a loan approval. The outcome may be such, that when you find the right home and decide to make an offer, you might not be considered if another potential buyer who is pre-qualified submits an offer that is agreeable to the seller. For almost every buyer (and seller), the clock starts when you say 'Yes, I'm very interested'. No one likes delays, especially you - so don't put yourself through this. Compare lenders and programs. Also, inquire about pre-approval offers. Additionally, you may want to check and see if you qualify for a government home buying assistance program. Visit HUD.gov as well as your own state government website.
6. Home Shopping - with a Real Estate Agent: Now that you have an idea of the market and how it applies to you, why not seek the assistance of a professional? To quote the above source "Remember that fees for his/her service are paid by the seller. If you are a first time buyer with no home, you pay the agent nothing." Besides, if you are busy like most people are, then it's great to know there is a professional looking to find the right home for you. Another point is that unlike friends or even family that may tire of hearing you debate and thinking thru your decisions, a real estate agent should always be available or should have an interest in getting back to you as soon as possible. (Resource Ex: http://www.philahomesale.com )
7. Know who you are talking to: Your agent should disclose his/her relationship with you. You need to know whether or not the agent is representing you or the seller. The agent should make this transparent. You must also know that the situation may differ with each property you look at. For example, The agent may take you to a property that is not his/her listing which could suggest the agent is representing you. Then, the same agent may show you a listing where he/she is representing the seller. Don't be afraid. Just know where you stand.
8. Make them an offer..they might refuse: Don't be afraid to negotiate. Just know that every seller and every property is a different scenario. Just as you are looking to make the best decision, the seller wants to do the same. Communicate with your agent about the negotiation process and the options available. It's also common to get nervous, especially when you make an offer and you don't hear back the same day, or even the next day. Try to remain calm and analytical. It takes time for your agent to reveal the seller's position and negotiability (if any). When your agent has taken time to research he/she can better provide you with accurate solutions or the next-steps. Be prepared if your first offer isn't accepted. A fair and healthy negotiation often consists of some compromise on both sides resulting in a decision that both parties are satisfied with. Next, when you have an agreed sale price, carefully read the initial purchase & sale agreement. Discuss any changes you wish to make with your real estate agent, and if you wish, a real estate attorney, before signing the agreement.
9. Home Inspection: Make sure you have read and received the property disclosure statement. This will give you an idea of the property's true condition and what (if any) renovations have been made. The inspector you select should be qualified and experienced in residential inspections. It's also advisable to ask for testimonials before choosing an inspector. The inspector should allow you to be present throughout the process, and provide you with a timely written report in 24-48 hours.
10. Homeowners Insurance: It is important that you have your insurance ready before you sign the papers, and be able to provide proof that it is effective. Search for various providers to obtain quotes, receive advice on buying, and how to keep insurance costs down.
11. Signing on the dotted line: The signing process normally takes a few hours, so you will want to clear your schedule on the day you are to take legal possession of your new home. It's important to not be in a hurry. You want to be certain that nothing is overlooked and that all of your questions have been answered. Don't be afraid to ask any question either. If you are not comfortable with something, make sure to ask & handle it at that moment. Remember, this is YOUR moment. Don't allow anyone to distract or rush you thru the process. Take a deep breath, get the answers you need, and follow the process systematically. In doing so, once you've completed you can then celebrate your achievements - even reveal your excitement, if you wish. :-)
Your Freezer Is Like Real Estate?
I thought the article below was somewhat interesting...if not, at least humorous.
Efficient use of your home freezer
Your freezer is like a little city and you are a real-estate agent. The first thing you need to understand is property value. Don't worry there is no licensing exam required.
In real-estate there are many things that affect property values, but in your freezer there is just one. Temperature! In the same way that mild climates and good weather contribute to the high property values in coastal cities, maintaining the desired temperature is the ONLY determining factor in Freezerville. In real-estate you have probably heard that the three most important things are location, location, location. The same holds true in Freezerville.
You can break it down into three neighborhoods: the back of the freezer – the palatial estates and gated communities; the front of the freezer – nice neighborhoods with clean parks and ‘normal' sized houses; and the freezer door – the rough part of town where you hope your car doesn't break down.
The back of your freezer, or the palatial estates, keeps the most consistent temperature. It is not as affected by the door being opened throughout the day. This is where you want to have your "rich" foods – raw meat, ice-cream, baby food, etc. – anything that would go bad if it were to even partially melt. If you have a shelf in your freezer then you double the space in your high-rent district, as the back of both the bottom and top would be roughly as cold.
The front of your freezer, or the nice neighborhoods, stays pretty cool when the door is opened, but is directly affected by the rush of warm air when you open the door. This is a good place to keep fully cooked meats or snacks. Things like frozen taquitos, quiche, pizza rolls – products that were fully cooked and purchase frozen.
The freezer door is the bad side of the tracks, or in this case the wrong side of the warm air. Every time you open the freezer door the temperature of these items immediately begins to rise. The real problem is if the door remains open for a longer period of time, like when you are putting away groceries or staring blankly at the frozen bags trying to decide what to have for dinner. In that case the freezer will usually kick up its production of cold air, but since these items are hanging out in the warm air of the kitchen, they are usually too far away to benefit from the cool breeze blowing through the better neighborhoods.
These are the mean streets of Freezerville where only the hearty stock can make it: frozen veggies, flour, ice packs, etc. Even though the door seems like a place you wouldn't want Mr. and Mrs. Fudgebar to raise their ice cubes, remember that even the undesirable neighborhoods in Freezerville are prime real-estate. Don't let any of it go unused.
Just like people in a community contribute to the quality of the neighborhood, items in your freezer actually contribute to the cold. Once an item is frozen its cold temperature helps to maintain the overall temperature in the freezer. Leaving a lot of open space requires your freezer to work harder to create more cold air to circulate. When you don't have enough food to fill your freezer simply stock extra icepacks or plastic containers partially filled with water. That way, when you need the extra space for food, you can just store the icepacks/containers elsewhere until the freezer is low again.
Finally, remember that you don't want to oversell your space. When I say full I don't mean busting at the seams. You want to have space for the cold air to circulate through the freezer or it will also be inefficient. Make sure you can see to the back of your freezer, as this is where the cold air blows into the freezer, and you want it to make it all the way out to the door once it is closed.
------------------------
Johnny Waymire has a great free resource site, http://kitchen-appliance-advisor.com , containing practical and helpful information on how to purchase Kitchen Appliances that fit YOUR needs. Visit to find all the helps, brands and reviews to make your next purchase very informative.
Efficient use of your home freezer
Your freezer is like a little city and you are a real-estate agent. The first thing you need to understand is property value. Don't worry there is no licensing exam required.
In real-estate there are many things that affect property values, but in your freezer there is just one. Temperature! In the same way that mild climates and good weather contribute to the high property values in coastal cities, maintaining the desired temperature is the ONLY determining factor in Freezerville. In real-estate you have probably heard that the three most important things are location, location, location. The same holds true in Freezerville.
You can break it down into three neighborhoods: the back of the freezer – the palatial estates and gated communities; the front of the freezer – nice neighborhoods with clean parks and ‘normal' sized houses; and the freezer door – the rough part of town where you hope your car doesn't break down.
The back of your freezer, or the palatial estates, keeps the most consistent temperature. It is not as affected by the door being opened throughout the day. This is where you want to have your "rich" foods – raw meat, ice-cream, baby food, etc. – anything that would go bad if it were to even partially melt. If you have a shelf in your freezer then you double the space in your high-rent district, as the back of both the bottom and top would be roughly as cold.
The front of your freezer, or the nice neighborhoods, stays pretty cool when the door is opened, but is directly affected by the rush of warm air when you open the door. This is a good place to keep fully cooked meats or snacks. Things like frozen taquitos, quiche, pizza rolls – products that were fully cooked and purchase frozen.
The freezer door is the bad side of the tracks, or in this case the wrong side of the warm air. Every time you open the freezer door the temperature of these items immediately begins to rise. The real problem is if the door remains open for a longer period of time, like when you are putting away groceries or staring blankly at the frozen bags trying to decide what to have for dinner. In that case the freezer will usually kick up its production of cold air, but since these items are hanging out in the warm air of the kitchen, they are usually too far away to benefit from the cool breeze blowing through the better neighborhoods.
These are the mean streets of Freezerville where only the hearty stock can make it: frozen veggies, flour, ice packs, etc. Even though the door seems like a place you wouldn't want Mr. and Mrs. Fudgebar to raise their ice cubes, remember that even the undesirable neighborhoods in Freezerville are prime real-estate. Don't let any of it go unused.
Just like people in a community contribute to the quality of the neighborhood, items in your freezer actually contribute to the cold. Once an item is frozen its cold temperature helps to maintain the overall temperature in the freezer. Leaving a lot of open space requires your freezer to work harder to create more cold air to circulate. When you don't have enough food to fill your freezer simply stock extra icepacks or plastic containers partially filled with water. That way, when you need the extra space for food, you can just store the icepacks/containers elsewhere until the freezer is low again.
Finally, remember that you don't want to oversell your space. When I say full I don't mean busting at the seams. You want to have space for the cold air to circulate through the freezer or it will also be inefficient. Make sure you can see to the back of your freezer, as this is where the cold air blows into the freezer, and you want it to make it all the way out to the door once it is closed.
------------------------
Johnny Waymire has a great free resource site, http://kitchen-appliance-advisor.com , containing practical and helpful information on how to purchase Kitchen Appliances that fit YOUR needs. Visit to find all the helps, brands and reviews to make your next purchase very informative.
Subscribe to:
Posts (Atom)
