Blog - Insider Secrets of Real Estate

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10 Must-have tools for homeowners

great ideas

Being a homeowner means that things are going to eventually break. So unless you want to spend your hard earned money paying someone else to fix things for you, you’re going to need to fix them yourself. Luckily, you don’t need a ton of tools to handle most home maintenance issues. These are 10 must have tools will cover most of your basic projects. 1 Hammer - This may seem like common sense, but some people don’t have one on hand. They are cheap to add to your collection and you never know when you might need one. 2 Screwdrivers - Again this may seem obvious, but many will not have one, let alone the two you need. You will want to have a flat head and a…

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Thinking of selling? Inventory is low.

selling

Thinking of selling your home? Housing inventory is extremely low and this is a problem in many markets throughout the country. In a typically healthy market any neighborhood would have about six months worth of inventory. What we are seeing in many neighborhoods is actually inventory that is as low as one or two months. What this means is that buys are not able to find homes to buy. This also means that when seller’s are listing their homes they are getting multiple offers and homes are selling over list price. That is in cases where the homes were listed in line with the high end of market values of the most comparable homes. If you start your list price higher it will stay on the market longer, how long…

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7 Genius Ways to Hide Valuables

great ideas

It can happen to the best of us. We think that we are hiding our most valuable possessions from prying eyes and sticky finders, but things still come up missing. Best case it's someone you know and you can get it back. Worst case it's someone you don't know that broke into your home. Luckily there are some genius ways to hide your valuables. Yes some people will know about some of these, but it is far too time consuming for them to try and find them. So hopefully they won't even try. 1 Hide it the door This is a phenomenal way to hide cash. No one will ever think to look at the top of a door. Even if they do think about looking here, they will…

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5 Reasons Your Mortgage Could be denied

buying

You saw the house, made and offer, got your inspection done and were on your way to getting the home you truly wanted. Then... Buying a house can be exciting, but being denied for your mortgage can be extremely stressful and to say the last disappointing. You can't control everything although there some things that you can do to avoid being denied. Takes these to be prepared and avoid the missteps that will make the deal fall apart. 1 Be sure that you have enough for the down payment Unless you are buying with VA or USDA loan you will need a down payment. There is just no way around it. There are programs like FHA that require as little as 3.5% down and some conventional financing with as little…

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5 Negotiating Tactics That Kill Sale

buying, investing

Negotiation is a subtle art in real estate, but skilled negotiators can usually find some common ground that satisfies all parties. On the other hand, using the wrong negotiation tactics can sink a deal pretty quickly. Here are some negotiation tactics buyers (and real estate professionals) should avoid: 1. Lowball offers: Going far below market value when you make an offer damages your credibility as a buyer and can be insulting to the seller. The seller has a range in mind that they’ll accept, and if you’re not even approaching the low end of that range, they won’t even consider the offer. 2. Incremental negotiations: Don’t continue to go back to the seller with small increases in your offer ($1,000 or less). The constant back-and-forth can grow tiresome…

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Dispelling Refinancing Myths

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“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run. YOU’RE NOT TOO LATE. For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing. IT’S NOT TOO TIME CONSUMING. Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a…

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Short sale and foreclosure: How are they different?

buying, investing, selling

As unfortunate as it can be when homeowners fall behind on mortgage payments and must face the possibility of losing their homes, short sales and foreclosures provide them options for moving on financially. The terms are often used interchangeably, but they’re actually quite different, with varying timelines and financial impact on the homeowner. Here’s a brief overview. A short sale comes into play when a homeowner needs to sell their home but the home is worth less than the remaining balance that they owe. The lender can allow the homeowner to sell the home for less than the amount owed, freeing the homeowner from the financial predicament. On the buyer side, short sales typically take three to four months to complete and many of the closing and repair costs are…

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Which down payment strategy is right for you?

buying

You’ve most likely heard the rule: Save for a 20-percent down payment before you buy a home. The logic behind saving 20 percent is solid, as it shows that you have the financial discipline and stability to save for a long-term goal. It also helps you get favorable rates from lenders. But there can actually be financial benefits to putting down a small down payment—as low as three percent—rather than parting with so much cash up front, even if you have the money available. THE DOWNSIDE The downsides of a small down payment are pretty well known. You’ll have to pay Private Mortgage Insurance for years, and the lower your down payment, the more you’ll pay. You’ll also be offered a lesser loan amount than borrowers who have a 20-percent…

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Five Money-Saving Green Upgrades

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Going green is great for the environment, but that’s not the only benefit. When you make green upgrades in your home, it can also lead to some major savings. Solar panels: The upfront cost is big, but the long-term savings are huge. Solar panels will cost several thousand dollars to install, but ongoing maintenance costs are very low, and a typical system could save you hundreds of dollars per year. You can even sell your surplus electricity. Wood furnace: Wood-burning furnaces are relatively inexpensive, and though the yearly savings aren’t as dramatic (about 10% on heating bills), it adds up over the long run. Insulation: There’s a good chance your insulation isn’t very efficient, especially in older homes. Look into installing floor, cavity, wall, and loft insulation to reduce your…

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Priority Tasks for Your Move In

buying

Moving into a new home is an exciting time, and you’re probably daydreaming about decor and paint schemes and new furniture. But before you get into the fun stuff, there are some basics you should cover first. Change the locks Even if you’re promised that new locks have been installed in your home, you can never be too careful. It’s worth the money to have the peace of mind that comes with knowing that no one else has the keys to your home. Changing the locks can be a DIY project, or you can call in a locksmith for a little extra money. Steam clean the carpets It’s good to get a fresh start with your floors before you start decorating. The previous owners may have had pets, young children,…