Posts Tagged ‘real estate’

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Dissatisfied With Your Property Tax Assessment? Here’s How to Fight it.

Monday, May 30th, 2011

You probably realize the market is not currently strong. While you can hope that the economy will get stronger soon, thus increasing home values, right now, values on homes are still decreasing pretty quickly. Despite the unfortunate situation, there is some good news. Due to a drop in home values, you might have less property taxes to pay on an annual basis if you receive a lower property assessment.

Is there anything you can do if you think your home has still been assessed too highly? Is it even worth the trouble to fight your property assessment? It quite possibly could be.

First, it is useful to understand how home values are assessed. Two of the most popular ways are with comparables and replacement or rebuilding value. Also known as “comps,” comparables are simply other homes in your neighborhood or the surrounding area that are similar to your home and have recently been sold. By noting how much each of these homes sold for, assessors are able to value your home accordingly. Replacement or rebuilding value is more like how a bank appraises your home based on how much they think the cost would be to replace it.

If you believe your home was valued too high, you must first build yourself a case for a lower property assessment. This can be done by meeting with assessor and informing him or her you believe you were assessed too high. Next, you must file an appeal. Most locations have a time limit for such an appeal, as well. 60 days tends to be about average, but it varies, so be sure to check what the actual time limit is where you live so you don’t miss out. During the appeal, you will go through an appeal board and give an eight to ten minute presentation. It is appropriate here to bring pictures with comparables and all the data supporting your case, such as floor plans on these comps that are similar to your own and any other evidence that your home was assessed too high.

Other options do exist, but if you do your research and file an appeal, that tends to be the easiest way to fight your property tax assessment. You should dress to impress, act professionally and ensure your presentation is clear and concise. Your chances are good if you make sure to do some research. If you have, all the effort and time you’ve put in it fighting your assessment should pay off by a reduction in your annual property taxes.

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How Energy Efficient Lighting Can Help You Save on Your Electricity Bill

Tuesday, May 24th, 2011

If you take a moment to think about it, it’s quite obvious that lighting is an important feature to the modern home. One of the most easily forgotten, as well, lighting is often overlooked in favor of larger appliances. The completion of basic and everyday tasks before sunset also necessitates it. Lighting also provides us with a sense of safety and security. You might also note how it affects your own mood and personal comfort.

Lighting also affects our budgets, in terms of its consumption. We Americans spend anywhere from as little as 5% to as much as 25% of their annual electric bills on lighting in our homes alone. That’s a decent amount of money you could be making use of elsewhere, if only you could find a way to more efficiently use light. Here are some basic and simple tips to achieving energy efficiency in your own home.

Two methods exist to help you save lighting energy in your homes. One of the options available to you is to consider reducing the consumption rate of your home’s light bulbs and fixtures. Consider purchasing light bulbs of a lower wattage, for example. Energy efficient light bulbs or fixtures can be almost identical to, if not brighter than, the lights you originally had, while still ultimately reducing the amount of electricity you actually use. You’ll likely see an immediate result if you replace your old, inefficient incandescent light bulbs with incandescent halogen or compact fluorescent bulbs.

Reducing the length of time that lights are on in your home is a second way to save energy in your lighting system. By lessening the amount of time that lights are actually turned on in your home, this can be easily accomplished. Consider purchasing dimmers or other related lighting controls. When it’s not completely necessary to have lights on in the first place, set a good example for other members of your family by explaining the importance of turning off lights.

There you have it. You were probably aware of these methods of energy conservation already. Light bulbs are also relatively cheap, and the increase in cost of purchasing more energy efficient light bulbs is almost certainly made up by their longer life spans. In addition, any hardware store employee should be able to explain the more intricate differences between certain types of energy efficient light bulbs and fixtures. There’s no excuse not to implement a more efficient lighting plan now in your home. Plus, the extra money you save on your electricity can always come in handy.

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An Eco-Friendly Way To Heat Your House: Water Heating

Tuesday, May 24th, 2011

Homeowners have many solutions available to them if they want to make their properties more energy efficient. To reduce the amount of air conditioning they need to use on hot, sunny days, some people purchase tinted windows. Only purchasing recycled household items like glass and paper products is another option. Others still consider installing solar panels on their house’s roof to take advantage of the free energy available to them.

Your house can be made more environmentally friendly by means of your water heating choices. When choosing between the myriad of water heater options, as well, there is a lot to consider. You need to both find a water heater that heats a sufficient amount of water for your household and also one that will save you money. This includes choosing the correct size and fuel source for your individual needs.

Understanding the distinction between the various water heater types is first. Providing a storage tank of hot water, conventional storage water heaters are the large, bulkier type. Demand water heaters are also identified as tankless or instantaneous water heaters, since they heat your water directly without use of a tank. In contrast to the tankless, instantaneous water heater that heats your water directly, heat pump water heaters simply move heat throughout your house. There are also heaters that create hot water utilizing solar heat, known as solar water heaters. Your home’s own space heating system is used with tankless coil and indirect water heaters to achieve the same result.

To help you choose which heater is right for you, you should also have several selection criteria in place. The water heater’s fuel type or energy source also needs to be considered. Pricing and availability also need to be taken into account. If you have restricted space for your water heater, size must also be taken into account. Lastly, you will want to know how much more eco-friendly your new water heater will be compared to your present one.

It is essential to decide what kind of heater is appropriate for your household’s needs, when choosing a water heater. It is also recommended to factor in a set of criteria before your purchase. As a result, there should be no reason not to be able to buy a water heater that’s both energy efficient and meets your own personal housing needs.

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How To Select The Best Kind Of Roof For Your House

Tuesday, May 24th, 2011

When your house is located in an area that is known to have heavy snowfall, it is best to choose metal roofing. Metal roofs are offered in aluminum, stainless steel, copper and a lot of other metal alloys. Some metal roofing alternatives can be costly, especially copper, stainless steel and metal alloys. Despite this, they are the ideal materials since they appear natural, are very sturdy and are impervious to dents and scratches.

It is vital for the prospective customer of a roof (you) to become familiar with a lot of different kinds available in the market. Deciding on which roofing material works best for your home must be arrived at after studying all of the options offered on the market nowadays.

The snow cannot affix to a metal roof and it is for this reason such a roof is so well-known in places that receive severe snowfall. This is an important factor because it means that the heavy weight of the snow will not ruin or cause the roof to give way. Preventing snow damage is not the only advantage to a metal roof. A metal roof can last for the lifetime of a home if it is properly installed and it can also can completely seal out water and endure high winds. It can also be flame, mold, pest, and rot-resistant. Roofing materials from most firms come with warranties that although they may vary, can guarantee their products for 20 to 50 years!

Selecting which materials will work best for your roof is only one of the selections you will have to make concerning your roof. By using one material for the entire roof and a different one for decorating edges and trimming, you can incorporate different materials for your roof. Sheets of shingles and metal sheets are the most well-liked options for roofing compositions. These materials are preferred because they are quickest and simplest to mount.

The ideal materials for any roof will be those that are ecologically friendly, durable and require low maintenance. How long the roofing materials will endure is very crucial to know making making any final decisions regarding your roof. While the more durable products may be more costly, it is also true that they will last longer. Asphalt composition may last 20 years, but a metal roof can last as much as 50 years. It may turn out to be more cost-efficient to go with a metal roof thinking of both the current and potential value of your home.

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The Ramifications of FSBO, Both Good and Bad

Tuesday, May 24th, 2011

Often pronounced “fizzbo,” FSBO is a relatively simple acronym. It stands for “for sale by owner.” Anyone who goes through the process of selling their home without having a real estate agent or broker represent them is considered someone who is selling their home FSBO.

Homeowners can make use of a variety of different methods to sell their home on their own. They can pay a company that specializes in marketing or online listing, for one. They can also market their own property and make use of a lawyer’s services and advice to aid them throughout the process of the sale.

The process of selling your home FSBO can be appealing to many homeowners. Perhaps the most popular reason many choose to go this route is to save money on what is known as a commission. When you sell your home through a real estate agent or broker, their main means of earning money themselves is by charging the homeowner a percentage of the price their home actually sold for. Some real estate agents and brokers can charge as much as six percent of the total sale of the house.

FSBO transactions are not without their complications, though. Most homeowners do not possess much background knowledge in either real estate or applicable law. This is where they can run into problems. Disclosures are a prime example. That leaky faucet and the water damage in the ceiling of one of the rooms? Those issues need to be disclosed to a potential buyer. If a buyer purchases your home without knowledge of anything you personally were trying to conceal, you are opening yourself up to serious liability issues. Real estate agents understand the ropes in this arena, and that’s exactly why you’re paying them a commission: for peace of mind that nothing will jeopardize the sale of your house.

The FSBO process can be a rewarding one, if done correctly. As a home seller, you could save quite a bit of money not having to pay a real estate broker’s or agent’s commission. If you’re up for the challenge, this could be a good option for you. If you’re less certain of your real estate and legal savvy skills, however, the commission may be a small price to pay for your own peace of mind.

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Worries About Termite Fumigation

Sunday, May 1st, 2011

Have you recently found out that you have a dangerous termite infestation? Have you recently been told that you will need to use gas on them because it is the fastest method of termite control and you do not have any time to lose? If so, toxic gas probably is the only answer.

However no one would blame you for being a little worried about having your house fumigated with toxic gas. It does not sound a very healthy environment to have to live, eat and sleep in afterwards, does it? The good news is that there is little reason for anxiety, especially if you use a respectable firm with a history of using gas on termites.

Vikane is one of the most commonly used gases for the fumigation of termites. It is typically used with a procedure called tenting. Tenting means quite literally erecting a tent over the whole structure involved, say your home.

The tent is then sealed as much as feasible, the Vikane gas is pumped in and fans are utilized to make sure that it is dispersed throughout your house, including your attic and basement. The gas is left to do its lethal work for a day within the sealed up tent and within your house.

On the second day, the tent is removed and the house is aired using the fans again. Delicate instruments are used to measure the levels of gas in all rooms of your home and when the pest controller is certain that the levels of gas have fallen to where your house is safe for human habitation, you will be allowed to move back in. That will typically be on the third day.

Vikane does not leave a sticky deposit, so it will not leave a coating on your furniture which you will have to wash off later. When the house has been thoroughly aired, all the gas will have gone, although there may still be a couple of harmless pockets left behind rafters and joists in the attic and basement.

Tenting your house may give you grounds to think that the gas must be hazardous for surrounding wildlife or your neighbours, but this is not the motive for tenting. The tent is erected in order to retain the gas against the outside of the external walls of your house as well, so that it is treated from inside and out, although it does help stop wasting gas too.

This tenting system of fumigation with Vikane is a very effective method of getting rid of an infestation of termites from a building. In fact, it is so effective that your contractor should issue you with a guarantee, although you may have to have the process repeated every year or two in order to maintain the warranty.

Vikane is aimed solely at termites, so it will not kill any other eco-system that has established itself within your house. It will not kill spiders, ants, bed bugs or cockroaches. More’s the pity, I can hear you saying.

Owen Jones, the author of this article, writes on lots of subjects, but is at present concerned with pictures of termites. If you are interested in this or if you are wondering: What Does A Termite Look Like?. Please go to our web site now for further details.

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Buy Your First Home: Here’s How

Saturday, February 5th, 2011

Interest rates on mortgage loans have been really low for months, and employment is finally starting to pick up a little. If you are thinking of buying your very first home, you should do it before interest rates start going back up. But buying a home is a complicated process and it can seem daunting. Let’s see if we can break it down and make it a little simpler.

A lot of people buy a small starter home at first, especially in an expensive real estate market. This is a good idea, but only if you intend to keep the house long enough to make the buying and selling costs worthwhile. Two or three years is probably an absolute minimum. When you’re evaluating what length of time will make buying a home a good decision, you’ll need to think about what you expect home prices to do during the time you own the house and how much the tax benefits of homeownership during that time will be.

How much home can you buy? In general, mortgage lenders will approve you for a loan with payments up to a certain percentage of your income. You approved payment amount will be the lower of your front-end ratio and back-end ratio. The front end ratio is the percentage of your gross income that will be spend on all of your housing costs, including loan payments, property taxes, insurance, and homeowners association dues. Most lenders will allow a front-end ratio of about 31 to 33 percent.

The back end ratio is the percentage of your gross income that will be spent on housing costs plus any debt payments you may have. That’s payments on car loans, student loans, credit cards, and any other debt you may have. Back-end ratios are typically 43 to 45 percent.

You’ll also need a to come up with cash for a down payment and closing costs. Mortgage lenders will only loan a certain percent of the home’s value, depending on the loan. Some FHA loans will loan up to 96.5% of the home’s value, allowing you to buy with only 3.5% down. There are even some VA loans with zero down payments.

A Realtor or mortgage broker can help you calculate these numbers and tell you which types of loans you qualify for. You can also go through this process with an online lender. At this point, you’re just crunching numbers. You can get all of this information without committing to buying a home.

Now that you know how much a lender thinks you can afford, you need to decide how much you think you can afford. You need to have a general idea of how much you think you could pay each month, how much you could financed for, and what kind of homes are available in your area in those price ranges. Then make a decision about what you are willing to spend to buy a home. If you’ve decided on a payment that’s more than you’re currently paying in rent, it’s time for a practice run. Take the “extra” money every month and deposit it into a savings account. You’ll be making sure that your budget can handle the extra cost while tucking away a little extra for the down payment or closing costs.

Now that you’ve taken a look at some of the factors in qualifying for a home loan, it’s time to shore things up. Could your credit score use a boost? Make sure you don’t miss any payments or default on anything. Is there something you could pay off to bring that back-end ratio down? Now’s the time.

Once you’ve decided on a price range you have permission to go house shopping! If you’re looking at resale homes, you should definitely use the services of a Realtor. The seller is going to pay the commission anyway, and you will save a ton of time over blindly wandering through open houses. Find a Realtor who sells real estate as their full time job. Don’t use a friend of a friend who does a couple of transactions every year on the side. If you are considering buying a new home, you might choose not to use a Realtor. Many builders will cooperate with your Realtor and pay them a commission, but that leaves you less negotiating room on the price of the home. It’s perfectly acceptable to look for new homes on your own while having a Realtor show you resales as long as you let the Realtor know that’s what you’re doing.

While you’re out looking for a new home, why not check out these new homes in San Marcos? When it’s time to apply for home loans, you can do it right on the internet.

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How to Create a Bedroom your Kids will Love!

Friday, February 4th, 2011

Every parent instinctively knows that look of joy on a child’s face when he sees something new that truly excites him is a valuable treasure. Parents everywhere have tried to find just the right gift to surprise and amaze their children to see that look of happiness on their faces.

Think of some of your child’s favorite things. What really catches their attention? Now you can turn your their room into an world that nurtures imagination. Some ideas might be princesses, dragons, race cars, rocket ships, cars and more. These products are called wall murals and they can turn a simple bedroom into a whole new world for your child to enjoy.

Wall murals are usually designed to cover large areas or even several walls, to transform the entire room into something completely new and special.Reusable wall stickers are a simpler and less costly alternative that allow parents to create a unique decor for nurseries or special events.

Wall murals are meant to be more permanent than wall stickers, and can be ordered in removable and non-removable varieties. CreateMyScene.com is one such store that specializes in lots of different choices all in one place, but custom designs (such as Super Mario Brothers and Donkey Kong wall murals) can be ordered as well. Customers at CreateMyScene.com can even upload their own photos to create their very own custom-designed wall murals.

Parents looking to create wall scenes for their children’s rooms have a number of choices. The first choice is wall stickers, which are usually cheaper than wall murals, and can be found in a number of varying themes. The second choice, wall murals, are more appropriate for a truly unique experience of immersion. Wall murals are customizable and can be ordered as adhesive-backed or non-adhesive backed.

Murals with adhesive backing can be more susceptible to heat than their non-adhesive counterparts so they should be used indoors. Since they are permanent and not reusable or movable once applied, they are shipped in squares that must be aligned correctly on the wall to create the scene. The murals come with the adhesive on the backs and you simply peel off protective papers and stick the murals where you want them.

Non-adhesive murals are made to be movable and reusable and have low heat sensitivity. These are shipped as full murals as opposed to panels. They are very easy to install because there is no cutting or aligning required for these murals.

The costs for adhesive and non-adhesive murals are the same. A small wall can cost under $200 to cover, and an extra large one might be over $1,000. Customizable sizes are also available for walls that don’t fit normal measurements. Overall, for parents who have the money and creativity to make wall murals work for their children’s rooms, this can be a magical moment waiting to happen!

You can see examples of wall murals from Create My Scene for ideas on how to create a bedroom your kids will love!

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Some Home Buyers Save Thousands of Dollars

Sunday, January 9th, 2011

Thinking about buying a home? Here’s a way to get cash back that could be worth thousands of dollars.

A growing number of internet savvy home buyers are taking a more active role in researching and viewing homes for sale. The result can be a time saving process for both the home buyer and their real estate agent.

The ability to access real estate listings online that were once available only to agents, now gives home buyers the option to negotiate a cash rebate from their real estate agent.

Some agents representing home buyers are open to splitting their sales commission in order to save time and effort on a home sale. Before a buyer makes an offer, an agreement can be made with an agent to represent them in exchange for a share of the agent’s commission, which is paid by the home seller at closing.

How much of a rebate a buyer can get depends on two variables: the share of the commission, which is negotiable with the agent; and the final sales price of the home.

Here is an Example: A typical commission paid by a home seller to a buyer’s agent is 3%. If the sales price of a home is $380,000, and the buyer negotiates a 50% share of a 3% commission, that would be a rebate to the buyer of $5,700.

Cash rebates can be paid to the buyer at the end of the real estate transaction, or the money can be applied to closing costs, providing there are no restrictions from the buyer’s lender, or state laws that regulate real estate transactions. There are a few states that do not allow buyers to receive cash rebates.

A buyer rebate may be available on the purchase of an existing home, and in some cases, on a new home. Certain builders offer sales commissions to agents who bring buyers in to buy a home. Builders usually require the buyer’s agent to be with them when initially visiting the models, and when signing paperwork.

For those buyers who are willing to take a more active role in researching and viewing homes on their own, they may find a source of funds to help ease the financial burden of buying a home.

Current loan information and mortgage quotes, plus information on Carlsbad New Homes

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Fannie Mae Locks Out Mortgage Defaulters

Thursday, January 6th, 2011

Homeowners who walk away from their mortgage may be penalized by Fannie Mae for up to 7 years.

In order to cut losses from borrowers who strategically default on their mortgage because they owe more than the home is worth, Fannie Mae stated that borrowers who had the capacity to make loan payments, but walked away from their mortgage, would be ineligible for new home financing for a period of 7 years.

High loan to value mortgages and falling home values put many homeowners in a situation where they are “underwater”, owing far more than their home is worth. Walking away from the mortgage creates ethical as well as credit issues, but it has become more of an acceptable choice, even with homeowners who can still afford to make their mortgage payments.

Fannie Mae is one of the main sources of mortgage financing for U.S. homeowners. They continue to face big losses from defaults and foreclosures. Their plan is to prevent some losses by locking out “strategic defaulters” from getting home financing for 7 years after a foreclosure. Borrowers who show extenuating circumstances or attempts to prevent the foreclosure, such as a loan modification, may have the waiting period reduced to 3 years.

Some proponents say this action is necessary to discourage strategic mortgage defaults, and there are others who say Fannie Mae could derail the recovery of the housing market. They argue that strategic defaulters walk away from a mortgage because of negative equity, but they still have jobs and the income for buying another home. Locking out these potential home buyers could lower the demand for homes.

Will Fannie Mae’s strategy of trying to lock out borrowers who strategically default on their mortgage really work? Not unless other government sources of home financing, such as, Freddie Mac and FHA adopt similar restrictive mortgage default policies. Also, adding a foreclosure to a credit report typically precludes a borrower from qualifying for a mortgage for at least two years, which may be a sufficient deterrent for borrowers who still have good credit.

A homeowners’ motivation to strategically default may depend on how far underwater they are on their home. Maintaining a mortgage that’s twice as high as the home value can be daunting. The thought of being stuck with a losing asset that may not break-even for 8 years could be enough motivation to take walk.

Written by R. Smith: Refinance, Home Equity Loans

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