Wednesday, September 22, 2010

Okay......So, I'll admit it... I'm addicted!

to TV home shows that is....

I was out with a friend / Realtor today.  Her opinion was that Home TV shows have changed the way Buyers view real estate.   I have to admit that I agree.    We've all seen the designed to sell or fixing things on a dime shows.   I love them!   I love the way they can transform a home for a few dollars and get the place ready to sell or to make it look fab!......but, ....look again, is the change realistic for living?     or does it just look great?   

These days we have come to expect perfection...

Why not?   

Well, it could just might be that perfection is just not real world.... it's media world....

The reality is that there is always something left to do in a home.. regardless of price..... the expectation of perfect is unrealistic and breeds disappointment....

My first client of all time, convinced her husband that if they chose a particular home, he wouldn't have to do anything to fix it up for her......  several months later when i went to visit... the only thing left unchanged was the kitchen counter!

My point ....  you will always put your personal stamp on a home....a homeowner will naturally change things to suit their needs and lifestyle..

Real people live in their homes.....   key word "live".  

Don't let the TV expectation of the "perfect" home stop you from buying your perfect home!  

When looking at the home, go in with eyes wide open... look beyond the current owners lifestyle.....

If the home looks TV perfect... make sure it is real life "liveable"....  don't let that TV expectation seperate you from your "perfect" home!

in the meantime....  i'm tuning in .....    it's fun to watch and they do have some great ideas!!!       Yeap....  I'm addicted......

Friday, September 17, 2010

Mortgage Contingency

Most of us aren't paying cash for our homes these days.   We need to secure a mortgage from a lender.    In order to secure the mortgage, you must have a purchase and sales agreement on a home.    For that reason, we have come to accept  a "mortgage contingency clause" as reasonable part of the purchase agreement.   

What exactly does this mean?  

The mortgage contingency clause protects the Buyer's deposit while the Lender researches the Buyer's qualifications and the home's value supported by an appraisal.   This process can take a few weeks.   Normally, during this time the home is "off the market."   

After review, the Lender will either issue a "commitment" or a "denial"....

The commitment, formal and in writing, means both Buyer and Seller can breathe easy and  can move ahead with the purchase of the home..... 

If one receives a "denial", the Buyer MUST provide a "letter of denial" from the Lender, and then ask for a release of his funds.  The home goes back up for sale.

Because of the mortgage contingency clause, most Buyer's will seek out a "pre-approval" from a lender prior to offering on a home.     This way they know in advance that they are likely to secure financing and exactly what their purchasing power is...  and, the Savy Seller will request to see a "pre-approval" on the Buyer before accepting an offer on their home; taking it off the market while the formal process works itself out.

This "pre-approval" process is the reason we don't see that many denials. 

Need a lender referral or help with purchasing a home?

Thursday, September 2, 2010

Regardless of Whether or not we get Weather!

Not to jump on the OMG the sky is falling, "we might have a hurricane band wagon", it probably does make sense to take a few minutes each year to inspect parts of our property and around it that we don't necessarily think of.  

These might include your roof shingles, chimney, gutters and downspouts, tree limbs, utility lines, drains and pipes, doors & windows, (latches and seals).  

.....If all those are looking good... then, okay, run out for that milk and bread!   

Here are a few good tips offered by House logic..

and ... to keep an eye on "Earl"