Selling a Home – Mental Obstacles

Selling a Home – Mental Obstacles

When it comes to the thought of selling one’s home there can sometimes be a lot reasons why someone chooses not to sell. Many of these reasons can be legitimate reasons depending on issues such as timing; while other reasons can just be potential barriers brought up by family members, friends, and word of mouth or current media forecasts.

The first of the three top obstacles are that houses are filled with good memories. Many people in their 50’s and older have a hard time selling their homes because it’s where they raised their kids and/or spend most of their lives.  This can become a potential problem too when talking to family members about whether to move because of their attachment as well.

However, what most people are struggling to decide is that the home may become too big to mange and maintain at a certain point. Another potential issue becomes falls in the home among older people. According to The Center for Disease Control and Prevention, one out of every three adults ages 65 and older falls each year. The best way to help someone move on is to let him or her know that it is okay to let go and be sure to point out the freedom that will result.

The second problem that people deal with is wondering who would buy their house considering how many houses are potentially available in the market. Now this thought is true but what is not being considered is the real estate agent and his or her knowledge. Most agents know a lot about what goes into preparing a house for sale. Take time out of your day to talk to one and hopefully they will give you more inspiration about why your house is more unique than the next.

The last mental obstacle people face is that they look too much at market statistics to help them decide whether to sell. It’s true the market is down but things are improving overall. What the housing market average in the country doesn’t take into account is geographical areas, which means overall the market may be down but your market may be the highest on the list!

Buying Outweighs Renting

Buying Outweighs Renting

If you’re stuck between the decision of whether to buy or rent a home then you’re in luck!

According to a recent Rent vs. Buy index generated by Trulia.com, a top site for buyers, renters, and homebuyers, buying a home is now more affordable than renting in 72 percent of major U.S cities.

The top two cities on the more affordable to buy list are Miami and Las Vegas. This is primarily due to the high number of foreclosures and increased unemployment rate that has occurred in recent years.  A few other cities that made the list are Arlington, TX, Meza, AZ, and Sacramento, CA. The top two cities that are more affordable to rent as opposed to buy are New York and Seattle; however, buying in these cities is seen as a financially sound long-term option to consider.

To create this list, Trulia compared the average listing price of a house with the average rental prices of a two-bedroom apartment, condo, and town home in the top 50 largest U.S cities.

The rental costs included in this analysis were the price to rent and the insurance costs. Incorporated into the option to buy were the mortgage principal, interest, closing costs, property taxes, hazard insurance, and homeowner association dues. This excluding all maintenance, bills, and security costs.

What was discovered was that, recently, the cost to buy has become more affordable since the start of the ‘Great Recession’ due to financial difficulties and the principal of supply and demand. Areas that supply a more steady rate of employment, such as, New York, keep housing prices at a higher rate this causing the demand to rent seem more reasonable.

Metro Area Low Price Home, 6% Loan 7% Loan 2 BR Rental 3 BR Rental Cost Difference Between 6% Loan and 2 BR Rental
Buffalo, NY $557 $636 $704 $871 $147
Syracuse, NY $557 $635 $713 $913 $156
Rochester, NY $626 $715 $773 $982 $147
Santa Clara, CA $3,778 $4,311 $1,293 $1,859 ($2,485)
San Francisco, CA $3,637 $4,149  

 

$1,592 $2,125 ($2,045)
Columbus, OH $847 $967 $718 $903 ($129)

– Information taken from MSN.

Tips for Renting a Vacation Home

Tips for Renting a Vacation Home

It’s that time of year again, when the holiday hype has died down and we’re all sick of the cold weather and snow that’s associated with the Buffalo area. This feeling can only mean one thing – Vacation time!

However, before you pack up your sunscreen, beach towel, and favorite pair of sunglasses you have to book your trip. As we all know booking a vacation rental can sometimes be the hardest part, whether you’re looking for a rental a year from now or even one a week from now. Proposed below are tips about things to know when renting a vacation home from a private owner.

  1. Start early. The earlier you start the better and the less stress involved trying to book last minute. Remember the best vacation homes tend to book up the fastest. A few of the most common ways to find a rental is through magazines, newspapers, a recommendation from a friend, online websites such as Vacationrentals.com, or through rental agencies and realtors.
  2. It is important to know what’s included in the rental.  Some places might not have laundry or allow pets, while other places may charge for cable and utilities. These are all important things to know before signing the rental agreement. The best plan of action is to know what amenities you’re looking for and check to make sure that that they are included. In addition, reading the fine print is a must.
  3. It’s also important to know if there is anyone to call for assistance. When something breaks what do you do? Established companies offer an emergency guest service contact number that guests can call 24/7 for maintenance or general questions.  For non-professional places it up to the owner’s policy, be sure to be know this policy before signing.
  4. Security deposits can be expected. Paying with a credit card rather than with check or cash ensures that you receive your deposit back a lot faster.  Also be aware of where your security deposit goes when it comes to what it is used for, how you will get it back, and when you will get it back.
  5. Lastly, make sure there is a written agreement between you and the person renting to you. This could be the most important item on this list. The last thing you want to find out is that the vacation rental you thought you booked never existed or someone was booked the same week as you.

 

Pre-qualified Vs. Pre-approved – Know the Difference!

Pre-qualified Vs. Pre-approved – Know the Difference!

Most people are not trained when it comes to the world of real estate and the terminology involved, which makes some of the language used tough to understand. So most people can easily get lost in all the fancy mumbo-jumbo that agents can throw around.

One important thing to remember: pre-qualification and pre-approval don’t mean the same thing. Some inexperienced agents can use these almost interchangeably but the difference between the two terms is great.

Pre-qualification means that the lender has provided an estimate of what the buyer can afford. This is based on the information received from the buyer such as income, assets, debt, and down payment. The lender will also provide an opinion of what the buyer’s potential is based on the information provided.

Pre-approval is defined as a commitment rending confirmation to receive a loan. What this means is that the lender has done more than have a conversation with the buyer and has, in addition, verified the buyer’s income, assets, debt, and down payment with a document review and a trimerge credit report. The lender will also provide an approval letter, which explains the conditions to be met as well as a finite mortgage amount. Furthermore, the buyer has already filled out a full loan application, paid the fee associated, and finished the necessary forms to complete the application. All that is needed to complete the process is a house to buy and a formal appraisal.

When you see sold signs come off, that usually means the buyer was only pre-qualified.

A Dry House is a Healthy Home

Everybody, regardless of if they are single, married, or have children want their lives and the lives of their loved ones to be safe, clean, and healthy. However, what most people do not know is that it’s not just people that can catch diseases – homes can too.

The best way to prevent this from happening to your home is to keep your house dry, clean, safe, ventilated, and pest free.

Why would you do this, you ask?

Well by keeping your house dry, mainly the basement, you are preventing the spread of mold and mildew, which tends to grow in damp moist areas. These will eventually spread throughout the house if left unattended for a while and could cause potential breathing problems for members in the house. To prevent this keep an eye out for plumbing leaks, faulty roof issues, and any weak areas that would allow water into your house. Good ventilation is critical, as it cuts down on the amount of moisture in the home.

Keeping your house clean and sanitized prevents the spread of colds and germs. Most people are unaware that items handled in the home represent 50 to 80 percent of food poisoning cases and 60 to 65 percent of all colds are contracted in the home.

For those who have children and pets keeping your house safe is an important issue. Make sure to store any cleaning products out of reach of children and pets, as most of these can be very dangerous to their health..

It’s pretty much a given that nobody wants pests in their home especially after knowing that some of them carry diseases, which can harm an individual’s health. However, as we all know sometimes it happens. The best way to keep them out is to clean up after meals, dispose of any unwanted food, and keep leftovers in a sealed container. They can’t survive if they don’t have food.