The post How Real Estate Commissions Work appeared first on Newton Search.
]]>Real estate agents are the lovely ladies and gentlemen that list and show prospective buyers around houses, apartments and condos that are for sale. This puts them in the “sales” category of real estate firms, meaning the more they sell, the more money they can potentially make. Thanks to commissions (a percentage of the houses they sell, they earn), real estate agents get additional incentive to close more deals.
The actual percentages themselves can vary by the real estate firm and the individual agents that represent them. However, it typically ranges from around 5-6% – with those of the high-end and luxury variety closing in on double figures.
More times than not, the seller ends up paying all of the commission at the close of sale. This is typically included in the “closing costs” that come up during that final meeting when you finally get the keys to your new home! Though typically, the fees don’t go right from seller to real estate agent. In most cases, it goes to the real estate broker – the one that funds your mortgage, as they often work directly with real estate agents. Sellers can easily calculate the asking price and factor in the commission rate to know what to offer up when the time comes. However, depending on the specific agreement, some of these terms can vary a bit.
Many of these practices are considered the norm and are therefore generally accepted as default. However, there are no legal mandates that make this imperative, so in the event of unlikely circumstances, some adjustments can be made to the contract prior to signing. Your best bet is to work with an established real estate agent that will consider your needs first.
99 times out of 100, absolutely and without a doubt the commission fees are worth working with a real estate agent. First off, your real estate agent most likely knows (and can recommend) other key figures involved with the process (the broker, a real estate attorney, home inspector, a handyman, etc.) The peace of mind knowing you have a network of trusted professionals will save you some hours of sleep. Plus, and this is vital – your real estate agent knows the housing market a lot more than you do and I don’t care how much you researched it. Because your real estate agent makes a commission on the sale, you’ll get top dollar for your house, which should more than cover the commission fees. Remember – you’re on the same side!
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]]>The post Reasons to Hire Public Adjusters for Insurance Claims appeared first on Newton Search.
]]>So, what can you do when you can’t seem to agree on the insurance cost? That’s where you need help from a public adjuster to settle your insurance claims!
In simple terms, insurance adjusters work on behalf of the insurance company. While they may have a lot of information about making claims and propose decent repair costs, they don’t work directly for the homeowners.
On the other hand, public adjusters perform the same actions of assessing the damages and writing up proposals for each repair and their costs. However, they work directly for the homeowners instead of the insurance company. However, considering that you need to employ public adjusters yourself, you also need to pay for their services. Granted, it doesn’t come out of your pocket since they only charge a small percentage of what you claim ultimately from the insurance company.
Simply put, the key difference between an insurance adjuster and a public adjuster is who they are employed by to perform the given tasks of making an insurance claim. If that’s the case, then the question arises – Why would someone hire a public adjuster and provide them with a percentage of their claims for the same job insurance adjusters do for free?
To put things into further context, let’s understand why relying upon your insurance adjuster can prove to be a questionable decision for you at times.
The truth is that company adjusters work for the insurance business and not the homeowners themselves. It’s also true that your insurance company might want to save some dollars during the payout process when you’ve had a big loss. While some reputable firms discourage such behavior among their employees, you can’t be sure about your situation until it’s too late for you to reclaim your insurance.
Also, because the insurance adjusters work directly for the company, they also have to consider the insurance company’s needs before making an offer to the homeowners. Ultimately, the final deal you get isn’t usually what you should have originally received from the insurance company for covering the damages adequately. This is where you might understand why depending upon the insurance adjuster might not work in your favor as conveniently as you originally thought.
Working with a public adjuster can give you a notable edge when you find yourself in the process of making an insurance claim. Here are five reasons to hire them that would make the overall proceeding far more worthwhile for you despite their charges:
Public adjusters are professionals who you can hire at any time during the claim process, just as long as you haven’t signed the final release. Since they are dedicated experts in the field, you can expect your insurance claim process to be completed in a professional and timely manner.
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]]>The post 8 Things To Do After Buying Your First Home appeared first on Newton Search.
]]>Though before starting this list, you’ll want to prioritize the items on your list inspection report, as every home is different. Once those matters are taken care of, we can get started.
Yeah, yeah, this might seem obvious, even self-explanatory – but there are a handful of things that you might not have thought of, especially with the number of tasks on your plate. To get started…
Learn where your main water shut off valve, gas shut-off valve, circuit box and sump pump are located. These are absolutely essential to know for when you have any water, gas or storm-related issues. Most of these are located either in your basement or garage.
This is certainly a hassle, but very important and the faster you get it out of the way, the better. Start by notifying your closest friends and family members in one swoop to ensure you don’t miss anyone important, then notify the post office and HR department at your job.
Next, you’ll want to protect your investment. Go shopping for the best rates from reputable insurances to find the best plan for you. Also, be sure to get acquainted with a licensed public adjuster so you can be prepared for even the worst of situations.
Contact your local utility companies, starting with the essentials like water, gas and electricity. Next, you’ll want to contact your local cable company for television and internet. P.S. We know how weird it feels to be in a home that isn’t connected. It’ll feel a lot more like home when this is done.
Next, you’ll want to make a checklist of all the things that will make your home… yours. All of the things you envisioned when talking that first walk through the house, jot them down and prioritize which are most important. It may take months, or even years to get them all done, but at the very least it’ll be easier having a visual of what needs to be done.
Some common projects include (but are not limited to) replacing carpeting or flooring, painting siding, yard modifications.
Nothing quite makes you feel as safe as knowing you have reliable home security. This is a big step you should take, especially in select neighborhoods. To get started, you’ll want to visit your local hardware store and pick up some new locks. It’s best to switch out the locks on your front and back doors, as you never knew who had keys to your home before you moved in.
Then you’ll want to have duplicate keys cut so you can give them out to close friends and family.
Finally, consider having a home security system installed for that extra level of comfort and peace of mind. Most companies install free and have affordable monthly rates.
Every family needs a plan for the unexpected. It’s really important to have an evacuation plan for home fires, carbon monoxide threats and more. Plus you should take this time to stock important supplies such as fire extinguishers, first aid kits, flashlights (with batteries) just to name a few.
Having a clear, transparent maintenance plan is the best way to create a sustainable schedule for the whole family. Things like cleaning your dryer hose/vent to prevent fires, draining your water heater, cleaning your gutters and keeping up with your refrigerator are all things that will keep you safe and save you money down the line. It’s best to delegate tasks upfront so everyone is clear on what their responsibilities are.
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]]>The post Selling Your Home? Top 5 Upgrades to Avoid and Why appeared first on Newton Search.
]]>Start your home selling process with a personal marketing plan. Arm yourself with information about the current home buying climate in your vicinity. Scan the realty websites for your area daily. Who is your competition? For starters, every other home with the same square footage, number of bedrooms, bathroom, garage stalls, and acreage. Is your basement/attic finished? What is the top price for a home with similar features near you? Be sure not to allow a realtor to top that when listing your residence, or you’ll be the last to be seen by prospects and therefore the last to be sold.
Then there is the matter of condition. How old is your home? Your neighborhood? Traditionally, older, more established neighborhoods will have mature landscaping, more varied architectural styles (i.e. not cookie cutter), and, most important, lower taxes. Next, focus on your home: how old is the roof? What kind of plumbing materials were used- copper, lead, or PVC? Is your foundation poured concrete/rebar or cinder block, which one? Any sign of foundation cracks? Evidence of https://www.servicemasterrestore.com/residential/water-damage inside or outside your home? Insect infestation either active or historic?
It’s also important to be realistic about where your home is situated. Buyers dream of being near the water, having a https://www.playcrystalsprings.com/ close by, being within walking distance to shopping, dining, and their children’s elementary schools. Next to a commercial area, directly across from a school, bordering a cemetery, in an airport flightpath, within hearing distance of a railroad, near a high-crime area are not as desirable as locations that offer more peace and quiet as well as safety and privacy. No upmarket kitchen or finished basement can overcome being situated in a less than optimal neighborhood. Such homes must be priced accordingly, marketing must be vigorous, and owners can expect a longer listing to closing time.
Is it a buyers or a sellers market? If the former, expect to be inspected and any price point challenged in order to make the sale. Even if it is a sellers market, it is important not to over improve your residence, you’ll probably have to ante up to buy in wherever you are going so save money on the selling end. When marketing your home, if you invest too much improving it thinking you’ll sell at a higher price, buyers will simply look -and buy- elsewhere.
If you have to sell your home during what you consider to be an adverse time, consider any advantages you’ll have such as not getting your asking price when selling, will likely mean paying less when you buy in your new city or town. There is usually a silver lining to these transactions, so look for it and seek ways to benefit from any hiccups in the selling/buying process. Our best advice: Become and stay optimistic and be realistic.
We cannot overstate this point: when upgrading for a sale, don’t overdo it. Here are the leading reasons home buyers cite when rejecting a property, so be sure to think twice before making your residence too good to be sold!
Today’s buyers may want turnkey but they also want kitchens and bathrooms their way. Those high-end cherry cabinets you installed will not resonate with buyers who are sold on having a clean white contemporary look. Ditto for that name appliance package you bought at the big box store when your neighborhood and buyers’ budget dictates commercial appliances and nothing less. The caveats to this statement are if your kitchen is over 15 years old- then prospects will question if the rest of your home has been well-maintained. Also, if your competitors have renovated their kitchens, you must as well. Or, depending on the market, consider deducting the cost of a kitchen reno from your asking price or offering a modest stipend at closing towards a kitchen remodel.
It only makes the residence look as if an unskilled DIYer incapable of finishing anything started and then lost interest. Presenting a cohesive home is not only appealing, it also inspires buyer confidence. For example, installing granite in a kitchen with outmoded appliances and cabinets will only point out how worn everything else looks and signal a need for a gut job instead of a more cost-effective renovation. Taste is very personal so making upgrades based on your taste might also deter buyers from pulling the trigger since they are considering having to rip out your upgrades to ‘have it their way’. Buyers see it as paying for your mistakes.
Before you remodel your mid Century modern or split ranch by converting a small bedroom into a walk-in closet, think again. You’ll need that bedroom to garner the most money from prospects. Instead, your brochure that details the home’s features can state, “4-bedrooms, 3-baths, ideal for in-law suite, home office, and/or walk-in closet conversion.” Let the new folks tailor their new home to meet their needs. Don’t anticipate what those needs might be and lose important living space in the meantime.
While we are on the subject, think twice before converting your basement into a private suite, adding a bathroom, or home theatre. Most buyers will not want them. Some folks just want storage, and a clean place to do the laundry. Instead, keep it simple. Paint the floors and walls using products just for this purpose, cap the steel posts with inexpensive poly columns, and present a clean canvas for new owners to make their mark. It is especially important not to imply that the space can be used for living quarters as most jurisdiction now require an outside entrance and egress windows along with an approved variance and permit.
Once an upgrade that cinched the deal, now swimming pools are viewed by many as a liability. Either the location is not ideal, or the thought of increased taxes, the cost of insurance and maintenance, and its size, shape, and/or construction are red flags to many buyers. If you have one, just make sure you have your costs to maintain, and the name of your https://www.endlesspools.com/ maintenance person available. Do not put in a pool to increase your chances of a higher home sale. Unless you live in the Southwest, California, or Florida, today’s cost-conscious home buyers are not interested in this upgrade anymore.
We hope you find this information helpful. Just remember there are many updates that can and will speed the selling process. Most of these will not break the bank. To begin with, a home that has been well-maintained will not require a significant cash outlay to become market-ready, just some decluttering, polish and staging. Be sure to follow these pointers before you contact a realtor to ensure an optimal listing price. After all, your home represents a large financial commitment. It is important, especially if moving to a more expensive region, to pull every possible dollar out of your investment. Best of luck!
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]]>The post The Differences In Hardscapes and Softscapes and Why Is It Important to Have Both appeared first on Newton Search.
]]>Hardscapes can be defined as the “brick and mortar” aspect of landscape or built-in features. These things are the nonliving components. Hardscapes can serve as a practical aspect of your landscape design and include such things as, driveways, sidewalks, and walkways to get you from one place to the other within your landscape. Walls and fences can serve as a barrier between yards and are made from various materials such as stone, iron, or wood. Hardscapes can also serve as a more decorative feature with such things as, patios, decks, waterscapes, garden tresses, gazebos, and much more. These can be pivotal aspects of your landscape that make your design go for ordinary to amazing and make your yard stand out.
Softscapes consist of the living or used to be living components of your design. These include grass, shrubs, plants, trees, and ground cover. Ground cover such as mulch and pine straw and trees and plants are some of the most common types of softscapes. When considering your soft scape components you should take into consideration your geographical location’s climate, rainfall, and also the amount of sun and shade those areas in your design will receive. Some grasses, plants shrubs, and trees require more sun or shade, and placement in your design for these elements is crucial. Consider how much rainfall you receive and some plants and grasses require more or less water to thrive. All of these should be a consideration when designing your space.
Softscapes require maintenance which includes watering, trimming, planting and other tasks to ensure success. Softscapes are often purchased from local home improvement stores, nurseries, or tree farms and are planted, installed, and maintained by homeowners or landscape contractors.
Both hardscapes and softscapes are key elements to a beautiful outdoor space. There are a few differences between the two. Here are 5 key differences.
While both hardscapes and softscapes work hand in hand in the design of your outdoor living space keep in mind when planning out your landscaping oasis you should consider both as key components to your design. Both are crucial parts of your dream landscape design.
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]]>The post Home Storage 101: Your Clothes Closet appeared first on Newton Search.
]]>Take everything out and lay clothing on the bed, and boxes, storage bins on the floor. This first part is the hardest, but it will make the rest of the afternoon go much faster and easier. Evaluate whatcha got. Try clothing on in front of a mirror if necessary. If you love an item but it does not compliment you or worse, highlights a problem area, put it in a contractor bag (so you cannot see it again) earmarked for donations.
Segregate your wardrobe by different categories: Work/Athletic/Casual/Formal. Put these items back in your closet and color code them. This means all the blue tops for work are together, followed by another shade and includes everything you use for that activity in that color. Put short-sleeved tops together by color, long sleeve, etc. Soon your closet will start looking very organized. Best of all- you will find what you need more easily.
If you are having problems parting with garments because you think you’ll need them later, try this hack: replace all garments in your closets with the hook facing AWAY from you. If you wear a garment, return to the closet with the hook facing TOWARD you. After a few months, donate any garments facing AWAY from you. You’re not using them and someone else will be glad to!
BTW: if you find your wardrobe is deficient or lacking certain items, know that it is not necessary to go out on a shopping spree at a retail store. Instead, keep your carbon footprint small and your region’s landfill contained by purchasing quality used clothing from reputable online vendors or the local thrift store.
Many times, we just contend with builder-grade rods behind suspended doors. For a modest cash outlay and one weekend day of labor, you can change all that and create the closet organization that works for your needs. Once you have culled your wardrobe, you’ll have a better idea of how you would like to access these garments and therefore, what you’ll need. There are several brands and even custom closet companies, but for most of us, a vinyl-coated steel wire kit and several hours measuring and using simple hand tools, possibly a drill, will make a big difference in our lives for years to come.
Consider keeping outerwear and seasonal clothing in a zippered hanging storage bag(s) in your hall closet by the front door. That will make way for more room in your bedroom closet. There is no point in having storage that isn’t in daily use.
Save space by investing in hangers that hold multiple items for skirts, leggings, pants, camisoles, and tank tops. There are even hanging storage holders for shoes and footwear. For a truly cohesive look, use only one type of hangers such as those thin velvet styles that come in an array of colors and metals. The good news is that recently this type became available in heavy-duty strength as well- no more doubling and tripling up hangers to support maxi coats!
Save your upper shelf space for items you do not use often such as winter hats, wool scarves, and mittens. Label these with Post-It™ notes to make locating what you’ve stored much easier later on. Instead of storing out of season handbags on shelves, consider accessory hooks so you can see what you have at a glance. BTW: Stuff tissue paper from the craft store inside to help these items retain their shape. No bureau for nightwear, underwear, and hosiery? Put these in labeled bins on the shelves below eye level for quick everyday access.
A great trick to save hanging space is by rolling tee shirts in a sausage roll and placing them upright in a storage bin. This way they remain unwrinkled, take little space and are easy to identify and remove as needed. Just reach on in!
An unraveling seam has sent many a fine garment to the donate bin way before its time. No one has the time to get out the sewing machine every time they need a quick repair. Get the most wear from your wardrobe by keeping a sewing repair kit with scissors, a measuring tape, pins, needles, and an assortment of threads in your laundry area. While hand-held steamers are economical, hanging a garment in the bath after your shower will work just as well. And if you really love your clothes, find room in your closet and budget for a professional garment steamer. These can be found for under $100 and are worth every cent.
Hard as it is to imagine a life without clothes hanging space, we have all lived at some time with limited options. In these instances, here are a few suggestions:
ARMOIRES: Victorians had ‘em and many of these bulky furniture items feature mirrored doors and shelves or drawers inside as well as hanging space.
ROLLING GARMENT RACKS: These are available at many big box stores as well as online and are most often crafted from chromed steel. They feature an edgy look and can be accessorized with zippered hanging garment bags to keep your clothes dust-free. Most racks require assembly- invite a couple of friends over, order a pizza and make a party of it!
THAT SWEDISH HOME GOODS STORE: You know the one. They sell great spring-loaded, free-standing closet components that are available in set combinations or for DIYers to create their own. These units start at about $150 and up but if you rent, these are easy to take with you.
ROLLING UNDERBED STORAGE: These units come with segmented interiors for different types of folded apparel and feature clear zippered tops for easy access.
STEAMER TRUNKS: Chances are if you have a steamer trunk it is being used for TV remote storage. Evict them puppies, buy them a bowl, and use the interior space instead for out of season bedding, coats, jackets, sweaters, etc.
BOOKCASE: If you have one, cull through your reading material and donate as many bestsellers, etc. as you can. Use that shelving space for bins to store shoes, accessories, lingerie, etc. instead. After all, today the majority of us read our literature online!
We hope our suggestions will help you control clutter, find new homes for disused apparel, and curate your wardrobe and home furnishings to include only what works for you. This way you can reclaim time- dressing for work will go faster, you can use this ‘found time’ for more important things, and when you have just what you need within easy reach, your self-esteem soars.
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]]>The post Best Smart Upgrades for New Homeowners appeared first on Newton Search.
]]>KEYLESS ENTRY: The concept is simple- enter a (usually) 4-digit code and voila, no need for keys. The convenience of keyless entry includes your morning run when keys would pose a nuisance, visitors, contractors, delivery personnel, or tenants who can have a code of their own which can be wiped upon their departure. For those who live alone losing your keys and not having entry to your home is one less thing to worry about.
SMART HOME SECURITY: We will not mention brand names but there are a wealth of options for every size home and budget. No one should be without a home security system, if only for the 15% (sometimes higher) rebate on our annual home insurance policy. In addition to cameras that can be monitored remotely by the homeowner or by a subscription service, full-featured home security systems offer the option to control thermostats and lighting on every floor to lower energy costs. Some even warn against fire, carbon monoxide, leaks, and potential flood hazards. As previously stated, while most can be controlled remotely, some offer voice control as well.
SMART VACUUMS AND MORE: We have all seen the disc-shaped vacuums that sense boundaries and challenges to clean an entire floor on a single charge, then return to their home base. All one needs to do is empty them. While this is just grand, there are limitations including steps and thick rugs. Still, for interim tidying between deep cleanings, many homeowners swear by them.
Following this concept, weekend warriors who detest pushing the lawnmower will rejoice at the cordless robotic mowers that take on hills and tree roots with ease. Several major brands now offer models so while today these paragons are ideal for small lawns only, within a few years, there is the potential to swap one green (your yard), with another (the golf course). BTW: Robotics are also available to clean pools and control your sprinklers more effectively than ever before. And you’re welcome!
PERSONAL ASSISTANTS: The residential, voice-activated, AI-driven personal assistant is like having another family member. One that actually performs the chores you task it with! Beyond providing information, orchestrating online ‘visits’, and complying with home security systems, these devices now work in tandem with specialized light bulbs, wall switches, televisions, and even draperies and window coverings to make our lives more convenient. If one had to select one Smart Home upgrade for convenience and another for safety, the Voice-Activated Personal Assistant and the Smart Home Security System would be top of the list.
SMART MIRROR/BODY SCANNER: Unless one works in an industry where appearance is everything, the smart mirror/body scanner delves too far into the realm of pseudo-science and extreme vanity. The facial version informs users of facial blemishes, etc. (And their eyes don’t?) Additionally, it can be used to note changes in skin tone over time so one can determine if that expensive anti-wrinkle cream is worth the expense. The body version will let you know if your workouts have been effective or not based on your changing contours. (Your newly baggy clothes will not?)
METABOLISM STIMULATORS: This falls under the ‘now we have heard everything’ category. The unit is a headset that “allows” wearers to eat whatever they want and still lose weight. The machine is said to stimulate the brain so that it metabolizes faster leading to quick weight loss regardless of what the wearer has ingested. Uh, if that is the case, I’ll have the Lobster Thermador, heavy on the butter and cream, please! Dream on!
SMART MATTRESS: This is a sleep aid that does more than just support the spine- or does it? It monitors one’s resting heart rate, notes the bedroom temperature and noise rate, offers LED light therapy, and allegedly stops snoring. Sounds like an amusement park for insomniacs and any MD can tell you that adjusting one’s sleeping position will not realign one’s septum, the usual cause of nocturnal wood sawing, anyway.
WIFI-ENABLED APPLIANCES: We are not talking about coffee makers that know when you rise and have a piping hot pot of fresh java waiting. No! These innovations range from ‘cookie pods’ and an appliance whose sole purpose is to bake four cookies at a time and signal when it is finished (in my house our noses do the signaling for us), a fork that vibrates to let users know that they are eating too fast, an automatic dental flosser that sees one approach the sink and immediately dispenses floss (what if you only want to wash your hands?), and a pet food dispenser that ejects doggie treats by remote control from your mobile device. The good news is that they don’t work when your WiFi is down. Yes, that is the only good news.
As with most new technology, those who welcome it will take to new ways of doing daily tasks with ease. Those who are not, such as this author who has reservations about having a new ride with keyless entry and ignition, the best advice is to read the instructions and have a back-up plan- such as an entry system with keyless or keyed entry options. Sooner than later these innovations will become commonplace and ‘can’t live withouts’. If getting in on the ground floor of new technology is too much, just opt for one feature at a time, such as a personal assistant which is scalable and will allow even the most skittish to add on as needed. The “Brave New World” that Huxley wrote about is happening now, but that is not just cause to break the bank in the name of home improvement. After all, innovation and technology are meant to improve the quality of our lives, if only we’ll allow it!
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]]>The post Won’t You Be My Neighbor? What do you really know about the people next door? appeared first on Newton Search.
]]>Directing our thoughts and interests to our own lives, is a relatively new trend. However, a couple generations back we had to depend on our neighbors for assistance. Neighbors and neighborhoods were built by folks from a similar background, immigrants who banded together to come to the New World and pursue the American Dream. Our children played together, grew up together, sometimes married each other, and families congregated together, if not in the same building, then often on the same street. In short, everyone knew everyone else and many were actually related to everyone else!
Time and circumstances have changed. One hundred years ago folks pretty much lived their entire lives in one place. Today the average person lives at five different addresses in their lifetime, and for many of us, leaving home after high school or college is a rite of passage. Air travel and employment can take the adventurous to foreign locales. Even for those of us who live in the same house for decades, we cannot name more than four or five families on our block, if that. With this new paradigm of seclusion and privacy comes the jarring possibility that we do not know our neighbors. This can prove detrimental, as you’ll soon see.
How many of us have turned on the news and seen stories about criminal activities in a residential neighborhood? Usually these broadcasts include interviews with neighbors who profess to have no knowledge of the sinister activities going on virtually under their noses. In fact, most declare that the neighbors in question kept to themselves, or were very polite, or betrayed none of what anyone would expect someone capable of a capital offense to resemble. Still others observed and wondered about the goings on next door, but were afraid to come forward and contact the authorities because they feared reprisal. If you are remotely curious about your neighbors, or want to know if there is something they might be hiding, first try Googling their name. If nothing of interest comes up, dig deeper. Visit kiwisearches.com. This site provides more in-depth information about an individual including previous addresses, family members, their phone number, possible criminal history, information about their finances, the properties they own, and more.
On a more minor note, keeping to one’s self or being the different family in an established neighborhood also draws its share of unwanted, and unwarranted interest. On my block, our neighbor Skip provides landscaping and snowplowing services with his son-in-law, Daniel, who, you guessed it, lives directly across the street from him. Skip lives in the house he grew up in and knows just about everyone in town- it is that kind of place. It is Skip who acts as the neighborhood goodwill ambassador sharing information about neighbors at one address with those at another, sometimes with surprising results. More than once I’ve responded to a knock at my door and found neighbors looking to hire an attorney, which I am not. Or found a young couple inspecting my front steps and asking if I would consider selling my house. Another time a family came and serenaded me from outside because Skip said I’d been in the hospital and could use some good cheer.
How to Build Goodwill in Your Neighborhood
He doesn’t always get his facts straight, but keeping everyone’s welfare and wellbeing in mind, well, that’s Skip and that’s what a good neighbor does. If you do not know your neighbors and do not have the good fortune to have a local Skip, try to get to know them. Bring over a potluck …leave a generic gift on their porch. Buy Girl Scout Cookies or gift wrap from their children, even if you’ve already bought yours at the office. Once you know a few families on your block, consider throwing a block party, or a neighborhood swap meet, or even a multi-address yard sale. Go caroling together- don’t laugh, we do! Make a big display at Halloween and give out quality candy/candy alternatives. Don’t forget the Winter holidays! A few dollars worth of lights and a little ingenuity, yours can be the showplace of the neighborhood!
So if you live on a street where you do not know your neighbors there are several options. 1) Do nothing and enjoy life as it is. 2) Snoop a little and look them up on Kiwisearch.com. Then, if all seems well, get to know at least the people whose property flanks yours (I found my plumber that way!). Even if it doesn’t go past the introduction stage, you’ll know you did the right thing, and, who knows, maybe you’ll make a new ally!
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]]>The post Is Real Estate on the Rebound? How to Be Sure appeared first on Newton Search.
]]>By 2008, however, the honeymoon was over. Hit with the worst economic downturn since the Great Depression of 1929, first stocks and similar investments, then home values were the last bastion to fall. From 2004 until 2010 across the country, home values averaged a 30% drop. While the U.S. economy has demonstrated steady upward progress since late 2009, we are only now (if one believes the politicians) on the cusp of reestablishing the same economic vitality as before the fall a decade ago. A lot of ink has been spilled with countless journalists raising fear among potential homeowners as to the volatility of the housing market. For anyone who has studied economics, they should have seen it (the ‘recession’) coming.
Most of the theory behind the U.S. economy and its policies stem from a British financier, Maynard Keynes. Simply put, nations are supply-focused and when demand for a commodity, such as housing, is high, inflation must be introduced to drop prices to more acceptable levels. Now that is a very diluted version of his macroeconomic theory. To extend it a bit, know that everything, even downturns, runs in cycles, and that cycles impact some areas, regions, even nations, with differing intensity and duration. Why this happens will not be explained here. In short, the current economic downturn was forecast decades ago by a Brit you’ve probably never heard of, and everyone from top executives at Fortune 100 enterprises and elected leaders, follow the economic trends as laid out by Keynes over 80 years ago. Also, that the solution for home buyers, while simple in theory, may be hard to accept: Save as much as one can for a down payment, keep one’s credit rating as high as possible, and know when it is time to apply for a mortgage, and to call a realtor to ‘get in the game’.
How to know when it is time? Well, the cycle we just mentioned represents the business or trade cycle. It is viewed as the up and down movement of the Gross Domestic Product (GDP). The cycle represents the time that an economic boom peaks and the inevitable contraction both run their course and the economy levels off. What happens next? In other words, what goes up must come down. The boom/contract cycle starts over again, just from a different position that it had held before. It is not a simple matter of waiting until the boom collapses because along with it, other factors, such as employment, may be impacted as well.
Let’s now compare taking the plunge and buying a home with the game many played as a kid, double-Dutch jump rope. Remember standing by the sidelines and gauging when was the optimal time to jump in yet avoid becoming tangled in the ropes’ revolving cycle? (Brought new meaning to the term, ‘knowing the ropes’.) You might we wondering, well, if the economy is on the rise again, is it time? Simple rule of thumb: If your debt load is small or non-existent, if you have saved at least 10% of your home’s estimated cost, if you have been gainfully employed for at least the last two years (preferably at the same firm), if you are fiscally responsible, then is it highly likely that you can enter the marketplace and experience all the joys and challenges of home ownership.
What If You Bought a Home Between 2004 and 2010?
This theory also works for those who have purchased and maintained homes since 2004. Residential home prices across the nation are expected to appreciate by almost 7% this year. Despite this increase, many will find that their premises may not be worth quite what they initially paid for them, but understand that realistically, they have not thrown money away on rent. Know when to cash out by understanding what you need monetarily to maintain the next facet of your life and that your current home will only partially finance that new lifestyle. There are many housing options to consider as well: condos, new-builds, older homes, and townhomes are but a few choices.
Where to buy? What to buy? When to buy? How much home can I really afford? These are some of the questions to ask as well as a great way to establish relationships with a mortgage banker and a realtor. These professionals will have your back and guide you toward home ownership. For example, if you are a DIYer, a fixer-upper in a well-established neighborhood will make your money go farthest. That’s because you are building equity into a home by upgrading it, and older homes will likely have lower property taxes as well. Housing starts are another great option as the current demand for construction supplies and lumber is soaring. New housing communities and condo development often have ‘sweetheart deals’ and offer substantial discounts to buyers not willing to wait until the entire building project is complete. Putting up with the noise and inconvenience by day for a couple years may be worth it to spend less when buying your forever home.
The most important caveat for those who have calculated what they need to buy a home, is to also know what it will cost to maintain and to live there day-to-day. There are many formulas online to help you with your personal finances, so do the math, know your numbers, and get out there and buy your piece of the American Dream.
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