7 Things People Forget to Do Before They Move

You packed everything perfectly, including that dining room chandelier, the big-screen TV, the vintage ’70s “Dukes of Hazzard” T-shirt collection. You even got your dog’s medical records from the vet. But something’s keeping you awake at night as your move draws nigh. You know you forgot something.

Don’t worry, keep packing. We assembled this handy checklist of things people often forget to do—or don’t even realize they should take care of—so you can make sure you’re covered and can move and settle down in your new digs with ease.

1 month before: Cancel recurring charges

Taking care of a gym membership or other subscription services may fall by the wayside during the madness leading up to moving day. Worse, those recurring charges will keep mounting on your credit card while you’re in the throes of unpacking. Get a jump on canceling these at least a month before your last expected day of use, especially since many gyms require a 30-day notice.

Can’t get out of your contract or transfer your gym membership to a facility by your new home? Sell it through online classifieds such as GymTransfer (yes, most gyms allow this!). Don’t forget to unload any prepaid class cards, too.

On the flip side, important recurring charges on your credit card—such as mail-order medications—might be canceled if your address change hasn’t caught up with billing information. So compile a list of charges and make the effort to call these companies and give them a heads up to avoid disruption in service.

2 weeks before: Call your car insurance company

The Department of Motor Vehicles advises people in the process of moving to closely manage their car insurance during the transition, as states have varying levels of required coverage. Even if you’re staying in the same city, rates can differ from neighborhood to neighborhood. So call your insurer well before the move to find out the parameters and deadlines for updating coverage at your new address.

2 weeks before: Change your address early

Most people know the U.S. Postal Service offers an online form to quickly change an address for all of your mail, but that doesn’t mean you should wait until the last minute to fill it out.

“To make sure mail arrives at your new home in time for your life there, complete the form about two weeks before your move,” says Desmond Lim, founder of QuikForce, an on-demand website that links people with professional movers. That way “you should see the first of your forwarded mail by the time of move-in.”

1 week before: Organize your finances

Important financial tasks are often forgotten in the whirlwind of moving, says consumer finance expert Kevin Gallegos, vice president of Phoenix operations for Freedom Financial Network. Since losing track of bills among piles of boxes is all too easy, Gallegos recommends setting up systems before a move that can easily transition from old home to new. For monthly bills such as phone, rent, or mortgage, it can really help to set them up for autopay, which you can typically do through your bank or the billing company.

“This can help ensure on-time payment during a hectic time,” he says. Whatever system you choose, decide which household member will be responsible for paying which bills. And as moving often incurs unexpected costs, be sure that you’ll have enough money in designated accounts at time of payment.

1 day before: Snap pictures of your electronics

Those cables in the back of your TV and modem that keep your life wired? They don’t make sense now and will make even less sense when they are tangled in a box. A simple solution is to snap a picture of the setup before you take your electronics apart—and coil the cords and label them with masking tape, for good measure.

1 day before: Pack your plants

Do you have a special plant (maybe that hydrangea you planted for your child’s birth or your mom’s prized azaleas)? To make sure you aren’t forced to leave it behind in your rush, make a list of what plants you want to take with you and put a plant plan in place. Don’t put your shovels into the moving van until the last minute—you’ll need them to carefully dig up root balls. Buy large buckets beforehand and use them to transport each plant.

1 day before: Stock a go-to box

Jen Sandlin, an agent with Cornerstone Real Estate in Boston, reminds movers to “set aside one box for the first 24 hours” in your new home. “Pack paper towels, cleaning supplies, clean sheets, towels, paper plates and silverware, toilet paper, and maybe even a bottle of bubbly to celebrate all your hard work, picnic-style.”

Shared from:  http://www.realtor.com/advice/move/things-to-do-before-moving-out/

10 Home Renovations That Offer the Best (and Worst) Return on Investment

Remodeling may be a labor of love, but it’s also an investment that can seriously boost the value of your home.  Only by how much? Well, according to Remodeling magazine’s 2016 Cost vs. Value Report, you’ll recoup an average of 64% of what you paid for a renovation if you sell your home this year.

To arrive at these figures, Remodeling asked consultants in various markets to estimate the average cost for 30 home improvement projects, from adding a bathroom to replacing a roof. Then, they asked real estate agents nationwide to estimate the expected resale value of these renovations so that readers could compare their out-of-pocket costs to how much money they’d get back when it came time to sell their home.

So, what projects gets you the most bang for your home renovation buck? It may not be nearly as sexy (or fun!) as adding a chef’s kitchen or glam bathroom, but attic insulation gets the top spot. That’s right: Stuff some fiberglass insulation into the walls of a 35-by-30-foot attic, and you’ll pay an average of $1,268. But when you sell, you will rake in $116.90 for every $100. For you math-challenged out there, that’s a recoup of 116.9% of your costs. It’s the only home reno on this year’s report that redeems more money than you spend!

The next best-paying renovation on the list: manufactured stone veneer, offering a respectable 92.9% return.

Meanwhile—sorry, luxury tub fans—the home improvement project that reaps the worst ROI is the addition of a bathroom, at 56.2% (although the “added value” of an extra bathroom for anyone who’s ever had to wait their turn for one is, of course, priceless).

Take-home lesson? If you’re looking for a general rule of thumb, it’s that less is more: Lower-cost projects  generally reap bigger returns, with four of the five projects that cost less than $5,000 ranking among the top five for money back when you sell.

Check out the best (and worst) returns for home renovations in the two charts below, including how much you’ll pay and get back if you sell your home this year.

Shared from:  http://www.realtor.com/advice/home-improvement/heres-how-much-remodeling-pays-off/

After a Quiet Hurricane Season, Hunker Down in These Homes Before Next Year

Shubin + Donaldson Architects, Inc. via Houzz

This week marks the end of the traditional hurricane season, which we weathered pretty well here in the U.S. Despite a few close calls, 2015’s Atlantic hurricane season rated below average, thanks in part to El Niño.

That got us thinking: If we escaped Mother Nature’s wrath this year, are we in for a doozy next year? After all, the flip side of El Niño was that the Pacific had its second most active season on record.

Never fear! We’re already preparing for ways to hunker down in case of stormy weather or a zombie apocalypse.

In a hurricane, your home is challenged to withstand massive winds, heavy rainfall, flooding, and debris pelting down like shrapnel. That’s a lot to ask, which is why the prospect of living in a hurricane zone can be so terrifying.

Certain homes, however, fend off hurricanes better than others—through either their shape, construction materials, or other ingenious fortifications or architectural features. So if you’re home shopping in a hurricane zone and want an added layer of protection, look for these types of residences to feel a bit safer once those 100-mph winds hit.

Eclectic exterior by Wrightsville Beach photographers Rick Ricozzi Photography

Dome homes

Monolithic “dome homes” are akin to modern-day igloos, made of a solid piece of concrete that allows even strong winds to slide easily over the top of the home—which comes in handy during hurricanes.

“This is critical because in a hurricane buildings don’t get blown over, they get vacuumed up. The wind actually sucks part of the building along with it as it is leaving,” says Walter Sedovic, principal and CEO of Walter Sedovic Architects. But the dome won’t provide much protection against rising water, according to Sedovic. That makes these designs ideal for areas that are prone to high winds but not flooding.

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Contemporary exterior by Brisbane building designers and drafters Ziegler Build

Shipping containers

Shipping containers are touted by companies that build with them as hurricane-resistant; their heavy steel construction makes them resistant to wind and water of any sort. That comes in handy on the high seas, but it can also work wonders on land, too. What’s more, you can link multiple shipping containers like building blocks to make a home.
That said, quality matters.

“It really depends on how the containers were made,” says Sedovic. “If you’ve ever seen an accident with a tractor-trailer carrying those containers, you know those containers can split open.” Still, planted firmly on the ground, they sure stand a better chance than a wood shack.

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Rustic exterior by South Deerfield architects & building designers Habitat Post & Beam

Homes on stilts

Homes directly on the coast can escape the rising tide if they’re built on stilts—also called pilings or piers, depending on what part of the country you’re in.

“The principal reason is to allow a body of water that floods to pass underneath the building,” says Sedovic. This not only keeps the home and its belongings dry, it also helps it stay put. “It keeps the home from being washed away by a large mass of water,” he says.

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Beach-style exterior by Clemmons design-build firms TOPSIDER HOMES

Octagon homes

Octagon homes, like domes, allow wind to travel around the sides without much resistance. Plus, since these homes are typically on a pedestal, they offer flood protection, too.

Of course, there’s a downside to this type of design: If the home isn’t built right, it might turn into a liability more than a protection.

“If it’s lightweight, it might get blown into the next state,” says Sedovic. Instead of opting for cheaper, pre-fab models, homeowners should opt for designs using sturdier building materials such as reinforced steel.

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Rustic exterior by Culver City architects & building designers Shubin + Donaldson Architects

Homes built from concrete and steel

Concrete and steel homes look like any other home on the outside: There are four straight walls, windows, and doors. However, storm protection is packed into the inside. With walls made of concrete and the roof and joists made of reinforced steel, the wind protection can be immense.

“Before, the tendency was for homes to be ripped apart at the seams as a result of the construction techniques that were employed, especially around the 1970s when coastal regions like Florida were in a housing boom,” Sedovic says. On the flip side, modern concrete and reinforced steel homes keep the corners of the home from ripping apart in high winds, offering more protection than siding or brick.

Shared from:  http://www.realtor.com/advice/buy/hurricane-resistant-homes/

5 Types of Properties That Make the Best Investments

When it comes to real estate, it's typical to hear that location is everything. While that is certainly a critical aspect of any real estate investment, so is the type of property you're considering purchasing. There are many kinds of property choices, both for those that produce income and those that don't, and each will have its own factors that help to determine whether or not it ends up being a successful venture. Though any investment involves some percentage of risk, there are certain properties that have less risk than others and generally yield a nice return. Below are the types of properties most people find to make the best investments.

OFFICE SPACE

As businesses in various industries continue to grow and flourish, there becomes an increased demand for office spaces. These properties are greatly desirable due to their common location in bustling downtown areas and big, impressive office parks. Owners of office real estate can make a generous profit with high rental rates and long term tenants in areas that enjoy a positive economic environment.

MULTI-FAMILY RESIDENTIAL

Multi-family residential units are often where newer real estate investors choose to place their money, and for good reason. As long as you find a property that is in good condition and in an appealing neighborhood with low vacancy rates and are able to fill it with credible tenants, this can be a fairly simple way to earn quite a bit of money over time, even more so than with commercial properties. It's a fact that people will always need a place to live, making it easy to keep spaces full while collecting a stable income.

SINGLE-FAMILY RENTAL

Just like its multi-family counterpart, owners of single-family rental properties can look forward to a nice, steady cash flow each month and to making a profit even after all expenses are taken care of. Rental properties can frequently be purchased for less than market value, and they give owners the chance to take advantage of some considerable tax deductions.

RETAIL

Retail locations may include stand-alone brick and mortar buildings or entire shopping centers. Oftentimes, in shopping center situations property owners find they fair much better if there is an adjacent retailer that is well-known and will draw large crowds, such as a Wal-Mart, Target, or grocery store. Something to keep in mind is that, although owning a retail property can seem high-risk since performance and sales are largely based on the prosperity of the economy, retail tenants usually sign longer leases and are less likely to relocate than companies renting office space.

INDUSTRIAL

Industrial properties can also be a good place to start for first-time real estate investors. Owners can typically count on lower operating expenses, less hands-on management, and require smaller amounts of money to invest. These properties are utilized for a wide range of industrial uses and must be functional for its specific purpose, sometimes needing office build-outs and a large outdoor space.

Whichever type of property you choose to invest your time, money and efforts in, you will want to consider the neighborhood, property taxes, crime rate, local job opportunities, number of nearby vacancies and future development plans for the area. All of these factors will play a significant role in how successful your real estate investment turns out to be.

Shared from:  http://accuplan.realtytimes.com/advicefromtheexpert1/item/40725-5-types-of-properties-that-make-the-best-investments

How to Save for a Home When All Your Money Is Going Toward Rent

Renters everywhere are feeling the constraints of rising rents. Higher rents erode your ability to save the cash you need to buy a home. Your living situation becomes a Catch-22: the longer you rent, the bigger percentage of your discretionary income you may need to save to offset rent increases.

Saving up to buy a home is no easy feat. You typically need at least a minimum of $20,000 to cover a down payment plus closing costs. That’s because you’ll need at least a 3.5% down payment to qualify for a mortgage and closing costs can be around $7,000 to $10,000 (about 2% to 3% of the purchase price). This goes without saying, but the higher the home price, the more funds you will need for the down payment.

(Keep in mind, you’ll also need a good credit score to qualify for the best mortgage rates. You can get your credit ready to buy a home by checking your free annual credit reports at AnnualCreditReport.com and looking at your credit scores for free each month on Credit.com.)

Picture this scenario: you’re diligently putting away at least 15% of your gross monthly income to buy a home in the near future. If your income is $8,333 per month ($100,000 a year) either from you or a spouse or combined, you would be saving $15,000 per year (or $1,250 a month) to meet that 15% mark.

Savings tip: A 15% home savings rate is a figure you may want to aim for if you make at least $60,000 a year and are looking to buy a house within the next two years. In some markets, however, your savings rate may need to be higher to be consistent with the cost of living in that area.

As demand for housing remains strong, monthly rents are subject to change commensurate with what the market will bear. Let’s say your rent payment is $2,200 per month now, but rises to $2,500 due to housing market changes. You would need to find a way to recover the $300 increase if that money was formerly going into your savings fund. How do you do it?

How to keep rent increases from ruining your plan

Taking no action and using the money you would be saving for a home to cover the higher rent payment will lengthen your home-buying trajectory as your savings rate diminishes. With the rent now at $2,500 and your annual income still at $100,000, your savings rate, as a consequence of losing that $300, falls to 11.4% a year.

You may still get you a home, but will perhaps have to look for one in a lower price range or a different neighborhood. Alternately, you can lengthen your timeframe for making your purchase. You can also cut expenses to offset the rent increase. Here are a few ways to possibly do so:

1. Cut an expense equal to the rent increase. Sounds obvious, but if you can find another spending area to cut back on (Daily Starbucks? A rarely used gym membership? Online shopping?) rather than diverting the home savings to cover your higher rent, you’ll be able to stay on track.
2. Look for a new place with a lower rental obligation. The process might be difficult, but could be worth it for the greater good of buying a home in the near future.
3. Move in with family to aggressively save for your new house. Going from $2,200 a month in rent to $0 can super-accelerate your home-buying timeline.
4. Get a roommate to help pay the rent and offset the increase.
5. Lock in your rental amount with a lease, keeping in mind that a lease binds you to the property. This contract, however, might not be such a bad thing if the term of the lease is consistent with your savings and home-buying plan.
6. Consider buying a home sooner, if you’re financially able to do so. Many 401(k) and retirement fund accounts allow for special privilege borrowing provisions to buy a primary residence. If you have a slush fund in your 401(k), this could be a good option and the money comes out of your paycheckpre-tax.
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   This article was written by Scott Sheldon and originally published on Credit.com.

Shared from:  http://www.realtor.com/advice/finance/how-to-save-for-a-home-when-all-your-money-is-going-toward-rent/

My Movers Damaged My Landlord’s Property—Am I Responsible?

Moving day is always a pain, but it can be infinitely more so if you damage your landlord’s property while trying to skedaddle out of there with all your stuff. And It’s even worse if you aren’t the one who broke the $500 picture window.

If your mover was at fault, it should offer to pay—but things aren’t always that simple. Here’s what happens when movers won’t pony up.

Your landlord has the right to come after you

Don’t expect your landlord to do the legwork of filing a claim. You hired the movers and invited them into the property—from the landlord’s point of view, it’s your responsibility to pay for damages. So you might have to eat the security deposit while you try to get the money back from the moving company.

You’ll have to review your insurance—and theirs

Yeah, we know—you did the responsible thing and took out insurance to cover your goods. Right? The problem is it covers only your goods.

Typical insurance provided during a move—such as coverage of 60 cents per pound, per item— “would not cover any damage done to the landlord’s building or property,” says Kim Weaver, compliance manager at Relocation Insurance Group in St. Louis, MO.

Instead, the moving company would have to use its general liability insurance, or its auto insurance if the damage was done by vehicle. Some companies may have only cargo and auto insurance. When choosing a mover, you should search the U.S. Department of Transportation’s licensing and insurance page for any companies you’re considering, Weaver recommends. There, you can view details about what types of insurance the company is registered for.

Just don’t assume a mover has general liability insurance.

“In my experience, to get licensed in most areas, a mover has to have insurance,” says Troy Doucet, lawyer and owner of Doucet & Associates in Dublin, OH. “That doesn’t mean everyone has insurance.”

And therein lies another problem: If movers don’t have insurance—or are operating illegally—they probably don’t want you to find them. So how in the world can you get them to pay?

You try to track them down

If you used an unscrupulous mover, your “options for pursuing reimbursement will be limited,” says Pete Johnson, co-founder ofHireAHelper based in Oceanside, CA.

“The customer could tell the moving company they’re planning to take the issue to small-claims court,” Johnson says. “It might produce results and, if it doesn’t, then they can go ahead and file if they have an address for them.”

That’s a big “if.” Even otherwise official-looking movers may have websites without an office location or employee names listed, making it difficult or impossible to track them down. But if you can, here’s what you should do:

• Review copies of all the forms you signed (the moving company is required to give you copies, so make sure you hang on to them). Did you sign a liability waiver? Even if you did, “it may not be enforceable in your state,” says Alicia Dearn, CEO of Bellatrix Law and trial lawyer. This means the company may have tried to trick you into backing down.
• Get a lawyer—if only for a letter threatening litigation. “A situation like this is best resolved by negotiation—a letter from a lawyer can really work wonders in these disputes,” Dearn says.
• Photograph the damage for evidence.
• File a consumer complaint with the state’s attorney general office.

If the mover still refuses to pay, you’ll be looking at settling in small-claims court—it’s up to you to weigh the cost and decide if it’s worth pursuing.

Shared from:  http://www.realtor.com/advice/move/movers-damaged-my-landlords-property/

8 of the Creepiest, Craziest Things People Have Found in Their Homes

Buying a new home is exciting, but you don’t want it to be too exciting—say, by finding a gravesite in your backyard. Not cool! For a glimpse of why you should never, ever skimp on your home inspection, check out this list of the most bizarre things new homeowners have unearthed on their property after moving in.

Dead chickens

During renovations in February 2015, the dream home of the Bretzius family in Auburn, PA, quickly devolved into the stuff of nightmares when they discovered their 1930s house had been insulated with dead chickens in the walls, along with spices and other “ritualistic objects.” Why? Experts theorized it was a form of Dutch folk magic known as Pow-wow, meant to ward off sickness, which is ironic because this discovery made homeowner Kaija Bretzius feel sick to her stomach.

“We were shocked, horrified, and disgusted,” Bretzius told WNEP News—even more so when she learned that excavating the carcasses would cost $20,000 (they started a GoFundMe for donations).

13 graves

When attempting to build a deck at the back of her house in Charlotte, NC, in June 2012, Roslyn Wright got a nasty surprise when she unearthed 13 gravestones. With graves underneath, naturally. Granted, Wright had been informed before buying the house that there was a graveyard somewhere out back, but the macabre discovery still gave her a turn.

“I never expected that they would be that close,” she told WSOC-TV. At least if a poltergeist arrived, she’d know why.

A lot of ammunition

The previous owner of this house was fully armed to fight off a zombie apocalypse. At least, that’s what the new homeowner figured as he posted images on imgur claiming he found a secret room containing tons of ammo, including thousands of bullets, military-grade gun crates, a defused grenade, and hundreds, if not thousands, of pennies. Maybe so they could be melted down into more ammo?

An ‘odd’ fellow

A family in Leflore County, OK, happened upon a coffin while searching their barn out back—and within it, a 100-year-old skeleton. The bones, which were found in February 2015, belonged to the Independent Order of Odd Fellows, who use skeletons in their initiation ceremonies. Yup, those are odd fellows, all right.

A medieval well

Colin Steer in Plymouth, England, had always wondered why his living room floor dipped in the middle, so he started digging. Three days and 17 feet later, he figured out why.

His home was sitting on top of a medieval well.

Further research and excavation revealed that the well dated to the 16th century and went down 33 feet. Crews also unearthed a sword that must have been tossed in centuries earlier.

“I love the well and think it’s fascinating,” Colin told The Telegraph in August 2012. “I’d love to find out who was here before us. I’ve got a piece of Plymouth’s history in my front room.”

A used body bag

In October 2015, a Detroit woman was cleaning out the garage of her newly purchased home when she came across a menacing find: a body bag, empty but for an “unknown male” tag. The funeral home across the street unequivocally states the bag isn’t theirs, but it’s definitely no super-size Ziploc. Local 4 Detroit tried figuring out who it belonged to and why, but doesn’t have any answers. We kind of hope it never does.Shared from:http://www.realtor.com/news/trends/8-bizarre-finds-by-new-homeowners/

Selling Your Home? Better Make Sure It’s Clean Before Moving Out!

Let’s face it: Now that you’ve found a buyer and scheduled the closing, you’re ready to be done with your old home. A clean break! The last thing you want to do is spend the weekend deep cleaning the place for someone else to enjoy. Besides, would it even matter?

Actually, yes, it does matter.

We feel for you—the temptation to skip out on those last few cleaning chores is strong. But don’t give in. How dirty you leave your home isn’t just about etiquette—it could also cause problems with the sale of your home.

While buyers may forgive you if you forget to sweep under the stove, more serious offenses can have serious consequences. Check your contract: Some sellers may stipulate that the place be spotless by the time they move in. If you agree to this (verbally or in writing) and don’t live up to your end of the bargain, you could be at risk for a lawsuit.

So if you leave a pile of filth, the new owner could delay closing—or even bail on the sale altogether.

“In a rare case I had someone walk away from the sale because of the condition of the home at the final walk-through,” says Darbi McGlone, a Realtor® in Baton Rouge, LA.

Odds are your buyer will be incredibly stressed out by closing day, and you don’t want to make matters any worse.

“It could be the straw that breaks the camel’s back,” McGlone says.

So, what are you waiting for? Let’s bust out the yellow rubber gloves and get to work.

Work from the top down

When it comes to cleaning, starting early is easiest.

“I recommend doing a good scrubbing and decluttering before putting the house on the market—it can be very stressful to do at the last minute,” says Wendy Wrzos, certified interior redesign specialist and founder of The Blue Giraffe, a home staging and redesign company in New Jersey.

But if you didn’t start early, don’t panic. If you attack the job with a plan, it’ll get done faster. Try to clean room by room, working from the top down.

Dust the ceiling fans, wipe down the walls, and then sweep, vacuum, or mop. Clean the refrigerator (if it’s staying behind), and give a once-over to the oven and stove—including the drip pans. Check the air vents for filth or mold—and if you spot any, call in a professional. This won’t be a standard broom cleaning.

Once you’re done with one space, move on to the next. And don’t forget the details.

“Light fixtures are rarely cleaned,” McGlone says. “Wiping down cabinets and drawers inside and out would be nice also—not many sellers ever do it.​”

Take a deep breath

Cleanliness isn’t the only thing you have to worry about before the final walk-through.

“The first thing buyers always notice when they walk inside is if your home has any less-than-appealing smells, whether it is cat litter, a wet dog, garbage, or the fish you cooked two nights ago for dinner,” Wrzos says.

Reality check: Any strange odors—even if temporary—will make the buyers think the home is dirty. (And they may be right.)

Even if you’ve already moved out, go back into the home for a quick sniff before the walk-through. Bring a friend who might not be as nose-blind to your old home as you are, and ask for an honest opinion.

Air fresheners can minimize lingering odors, of course, but you can also try these innovative tips and tricks. When all else fails, call in a deodorization pro. Yes, they exist.

Take everything with you

Many sellers leave behind personal items, because either they think the new owner may get use out of them or they just don’t want to deal with them. But here’s the thing: “No one wants your old shower curtain and matching trash can,” McGlone says.

Unless the buyer specifically asked for something, take everything with you. Double-check attics, basements, storage closets, and the garage for anything you might have missed.

Shared from:  http://www.realtor.com/advice/sell/how-clean-should-sellers-leave-a-home-before-moving-out/

Home Buyers: Don’t Wait Forever for ‘The One’

When you’re dating, you can spend years searching for the perfect relationship only to—possibly—wait too long and miss out on something great. Suddenly, over your sad microwave meal and bottle of cheap red, you’re looking back on your life choices, wondering what could have been if you hadn’t been so darned picky.

Well, the same goes for house hunting. You can drive yourself crazy searching for your dream home. You’ve found houses that have come close, after all. So the perfect one is bound to appear soon, right?

Not necessarily. We know the hunt can be emotionally draining, but at some point you have to go from house hunter to home owner.

We’re not encouraging you to make a choice that will fill you with buyer’s remorse. But to borrow a line from the Rolling Stones: You can’t always get what you want, but if you try sometimes … you get what you need.

We can’t give you love advice (and trust us, you would not want us to), but we do happen to know a few things about real estate. Here are three questions to ask yourself; the answers will help you determine whether it’s time to settle on a home that might notbe what your dreams are made of.

1. Are my expectations realistic?

Everyone has a dream home. Mine is a Craftsman with Victorian high ceilings, art deco details, and a Mid-Century Modern feel. But here’s the thing. That Frankenstein of architectural styles doesn’t exist—and your dream home probably doesn’t either.

“There is no such thing as a ‘perfect home,’” says Ryan Fitzgerald, Realtor® and owner of Raleigh Realty in Raleigh, NC.

There’s always going to be something not so lovable in each house you view. The key to finding the right home is setting realistic expectations.

“You can find a home that meets almost all of what you are looking for,” Fitzgerald says.

Make a list of your dream features and amenities before you start house hunting—but be willing to let some of those features go once you start looking at properties. It helps to score each feature on a scale of 1 to 10—that way you (and your partner, if you have one) are on the same page about which amenities are deal breakers and which are simply nice to have.

2. How many properties have I viewed?

Once you’re house hunting, it can be nearly impossible to decide when you’ve looked at enough houses. After all, the perfect house could be listed any day now.

Go ahead and view online listings as much as you want. There’s no harm in real estate stalking in your spare time, but you should set a limit for actual viewings.

“If you go view more than eight homes [without finding anything], there’s a good chance you’re confused as to what you’re actually looking for,” Fitzgerald says. “You’re trying to piece together a home that doesn’t exist.”

If you find that you’re searching for your own Frankenstein (it won’t work, I promise), take a moment and ask yourself how many homes you’ve visited. Have you reached the (self-imposed) cap? If so, make a list of each property’s strengths and weakness, and then get ready to compromise.

3. What am I willing to compromise?

If you’ve set realistic expectations and looked at more than a few houses, it’s time to start making some tough decisions. It might feel like settling, but you’ll probably thank us later when you’re finally a homeowner.

Just make sure you’re not compromising on something you’ll regret later.

“If you’re going to compromise, do not compromise on location,” Fitzgerald says.

The real estate adage “location, location, location” bears repeating here. After all, a great house won’t matter much if you’re driving two hours to work every day or the only nearby grocery store closes at 7 p.m.

If you’re not sure where to compromise, ask your Realtor. That’s what they’re there for.

The exception to the rule

After months of searching (especially in competitive markets), you might feel the pressure to choose something—anything—just to achieve homeownership and stop throwing away your money on rent.

We’re going to contradict ourselves a bit here and tell you this: Sometimes it’s OK to keep looking. When you’re deciding on a home, you should always consider the current market, even if it means you’ll be shopping for a little while longer.

“If you are having trouble finding a home and you have proper expectations, don’t settle—especially if you’re in a hot market,” Fitzgerald says.

If you’re in a sellers’ market, homes can go quickly and you might just be missing the window of opportunity. It might make sense to wait a little longer than rush to try to beat out an overzealous buyer.

After all, competition can breed short-lived desire—and you don’t want to be stuck with a dud after the admirers have moved on to the next attraction.

Shared from:  http://www.realtor.com/advice/buy/when-should-you-settle/

What Is Escrow?

One of the most confusing processes for the uninitiated to go through can be buying a home. At times it may seem that people are speaking a different language than they have ever heard before. This situation to often leaves a home buyer having to take on blind faith that the brokers, attorneys, escrow agents, inspectors and mortgage agents know what they are doing and acting in the buyers best interest.

The real estate agents at Ballen Network don’t want their clients to ever feel like they are in the dark. Here is a very short course to help spread a little light on the escrow process.

When Do You Enter Escrow

The escrow or closing process actually begins once you, the  buyer and the seller have agreed on a price and all the conditions for the sale. At the same time that the sales agreement is signed your real estate agent will collect an agreed upon percentage of the sale price from you and deposit it into an escrow account with an escrow agent.

This known as earnest money and as the name implies it is to show that you are earnest in your desire to buy the property. Think of it as a deposit.

What is an Escrow Agent

An escrow agent is a neutral third party who actually handles all of the funds and documents associated with the buying and selling of the property. Not being a party to the sale, in any way, their function is to make sure that all parts of the sale are executed in an equitable and legal manner. Like a referee or umpire the make sure the rules are followed and that everyone plays fair.

Steps of the Escrow Process

1. Entering Escrow- Set the sells conditions, sign the sells agreement, open and escrow account and deposit earnest money.
2. Bank Appraisal– You should be preapproved before you start looking for a home. Still the bank is going to want their own, independent appraisal to assure the property value will cover the loan amount. Note:  home buyer usually pays for this and if property cannot be sufficiently financed sale is cancelled and earnest money returned. This varies state to state and situation to situation. All is negotiable when creating the offers and counter offers.
3. Good Faith Estimate- Once financing is approved you will be given a good faith estimate detailing all of your finances (interest rate, closing cost, inspection fees, etc.) associated with the sale.
4. Obtain inspections– These may or may not be required depending on what area you are purchasing a home but a general home inspection is always a good idea. Some other inspections you may consider or be required to have are pest inspection, environmental inspection.
5. Acquire Homeowners Insurance- This is a condition of any mortgage but you don’t have to use their recommended insurance company. Shop around to find your best deal and coverage.
6. Receive Title Report and Title Insurance- These assure you that not one else other than the seller has any claim on the property. In real estate parlance, that the property is unencumbered.
7. Final Walk-Through– One last look around the property.
8. Review Form HUD 1- This is the finale detailed report of all cost associated with the purchase. Check it closely against the good faith estimate to make sure that no mistakes have been made or added cost tacked on.
9. Closing- The last step. Where all the money and finale paperwork gets taken care of. Be prepared to spend half a day signing your name

Shared from:  http://theballengroup.realtytimes.com/advicefromagents1/item/38695-what-is-escrow