How to Spot Roof Issues Before it’s too Late

Your roof is one of the most essential elements of your home. It guards you, your family, and your home from wind, water, and other harsh conditions. However, it is also part of the home that is often overlooked until it’s too late. Detecting roof damage early can prevent costly repairs down the line. But do you know what to look for? Here are a few signs it’s time to call a professional roofing company.

· Leaks and Water Stains – The most obvious sign that you have an issue with your roof is dampness. But water stains should never be ignored. They could be due to water intrusion during storms that dry once it’s over.

· Missing or Damaged Shingles – This may be harder to spot from the ground, but it’s important. Consider hiring a drone company to perform a visual inspection of your roof on a regular schedule and after major storms.

· Granules in Gutters – Over time, roof shingles deteriorate. If you notice excess granules in the gutters when you clear them, it may be due to older shingles that need replacing.

· Moss or Algae Growth – You may think that this kind of growth is quaint, but it can also be evidence of trapped moisture and should be researched. Finally, any water intrusion in the home should be investigated immediately. Issues caught early are normally easy to correct. Taking proactive steps can extend the life of your roof and prevent damage both inside and outside the home.

Ask the Right Questions: Tips for Getting Moving Quotes

Buying and selling a home can be stressful. Once you’re ready to move, the relief can leave you vulnerable to scams. Frankly, you’re so happy to be “done” that you can overlook red flags in your excitement. To protect your belongings and avoid extra costs or loss, learn the signs of scams when moving.

The first step is to do your research. Always make sure the moving company comes to physically inspect your belongings and gives you a firm quote. Some companies may try to give you a quote based on the size of your home or number of bedrooms, then charge you more based on time or weight. Do not hire these companies. A reputable company will spend the time to come to your home.

Next, it’s critical to check references. Ask for local references and call them. Online references and reviews can also be a good way to learn more about service and their response to problems. Ask about how they handle damage and check reviews for the insurance they offer. Ideally, you want a third-party insurance company and you may even have coverage with your own homeowner’s insurance.

Finally, get multiple quotes. Read the contracts carefully and make sure you ask about anything that can change during the move, such as delay fees, storage fees, or weight charges. Never make a large upfront payment and most companies only require a small deposit at the time of the move.

It’s natural to relax after the close of a new home, but you can avoid moving scams by staying vigilant and trust your instincts. Ask about anything that doesn’t make sense and check references. The lowest cost provider is likely low cost for a reason.

Don’t Overdo It When Decluttering to Sell Your Home

If you’re preparing your home to sell, you already know that it’s important to declutter. A clean, tidy space allows potential buyers to see the beauty of your home and to imagine themselves living there. But there is a fine line between decluttering and denuding – removing too much can leave your home looking cold and uninviting. Learn the difference and make sure your buyers feel “at home” in your property.

Decluttering involves carefully removing excess personal items and décor to create a clean and appealing space. On the other hand, some home sellers go too far and end up with sterile rooms that lack any warmth or personality. Buyers aren’t attracted by stark white walls with minimal furnishing any more than they are by wall-to-wall clutter. Buyers want a home with style and energy.

As you prepare for showings, start by removing extra “stuff.” Remove excess items from tabletops, countertops, shelves, and personal items. You do want a lived-in feel but allow some empty areas that make rooms look larger and brighter. Once you’ve removed unnecessary items, strategically return special décor and the occasional family picture or two.

Ultimately, the goal is to create a balance between decluttering and maintaining the charm and personality of your home. Your buyers are searching for a family home, so keep some “family” in the mix.

Real vs Personal Property in a Real Estate Transaction

When buying or selling a home, often misunderstandings occur over the distinction between “real” and “personal” property. Real estate agents across the nation frequently end up playing referee in situations fueled by misconceptions, which can create tension and sometimes even kill a sale. Understanding the difference is important to anyone engaged in a real estate transaction.

In simple terms, “real” property is the land and anything permanently attached to it, while “personal” property are items that are moveable. In this sense, real property obviously includes the home itself, along with other structures, such as a detached garage or barn, etc. It typically includes fixtures inside the home, such as lighting, faucets, built-in appliances, garage storage or racks, even curtain rods.

“Personal” property, being moveable, would usually include everything else. A refrigerator that is not considered a built-in could be included on this list. So would a free-standing BBQ Island, or a mounted TV. As you can see, some of these items may be controversial if there is not a clear understanding about what the seller intends to take with them when they move in the contract.

The best practice is for a seller to provide a list of any item they intend to keep that could be confusing and ensure it’s spelled out on the contract. This way, both parties have a clear understanding of the sale and the buyer does not plan a family BBQ on move day and find it gone.

10 Questions You Need to Ask Your Contractor Before You Hire Them

Hiring the right contractor can mean the difference between a successful remodeling project and a nightmare. The contractor is responsible for hiring the best tradesmen, budgeting, ordering raw materials, timing, and much more.

Before you meet with a contractor, it’s important to prepare. Not only should you be clear about the scope and goals for the project, but you also need to have questions about their business and these 10 questions can help you ensure you are hiring the best person for your needs.

1. Are you licensed and bonded? Can you provide information about your insurance coverages and exclusions?

2. What kind of project management system do you use? What is your communication cadence with your team and with me?

3. What is your policy regarding the cleanliness of the job site? How do you ensure employee safety on the job site?

4. Do you have a portfolio of similar projects and recent work with photos and/or videos?

5. Will you give me some references of recent past clients?

6. Can you provide me with a sample contract in advance for review?

7. How are selections and allowances handled?

8. How are payments handled? Will you provide a payment schedule?

9. What is the estimated time frame for planning, start date, and completion?

10.What penalties will you pay for delays caused by your team? How is fault defined for delays? Is this in the contract?

Remember, a home remodel can cause a great deal of upheaval, weeks or months of workers, delays, and adjustments. While you can’t plan for all contingencies, you can hire the best possible contractor. This puts you in the best position for a successful project.

7 Tips to Creating an Amazing Gallery Wall

A gallery wall is a quick and easy way to add visual impact to any room. Adding art and photography to a wall showcases your personality, interests, and style. Merging art with interesting articles, a gallery wall instantly adds depth to a living room or other space. Set against a strong color, the impact is even greater, and the time commitment is minimal, making it a great weekend or evening project.

7 Tips to Creating a Visual Delight

1. Plan and Visualize – One great tip is to use paper cut outs to plan the wall before committing and make sure you have the right tools, such as nails, hangers, Command® strips, leveler, screws, hammer, etc.

2. Choose a Theme or Concept – Create a cohesive, intentional look by working with a concept. This can be the style of art, color palette, or subject matter.

3. Mix and Match – Combine various sizes and mediums for visual interest. Mix paintings with three-dimensional objects like mirrors, plates, or masks. Pay attention to balance so the result is eclectic and not cluttered.

4. Watch the Framing – Frames and matting adds texture and boundary. Affordable options are available in standard sizes and colors in home improvement stores.

5. Play with Layout – Don’t worry about lining up every frame in a grid. Space frames and objects so that they stand out and are displayed to their best advantage.

6. Find a Focal Point – Starting in the middle of the wall, highlight a special piece and work out from there.

7. Add Lighting – Proper lighting is important. Use to highlight a special picture or use track lighting for a subtle glow.

A gallery wall is a great expression of your personality and can be changed quickly. You probably already have the art necessary to make this change today. Don’t overthink the plan and create your visual delight this weekend.

Is It Finally Time to Ditch Design Trends and Embrace Your Personal Style?

Almost 3 decades ago, HGTV launched its line-up of home improvement and design shows. Since that time, consumers have had access to the latest trends in home style and millions of viewers have enjoyed trying new designs in their own homes. Unfortunately, this has also led to the pressure to conform to the latest fad. Inexpensive big box home stores have made changing style more affordable, but these cookie-cutter rooms have left many homes lacking any sense of personal style.

Design trends can be inspiring. It’s fun to add a new color or texture to a room. Style magazines and TV programs offer fresh ideas and aesthetics to try. The goal should be to try one or two new things to add spark to the space. We’ve all seen the result of design overload, whether it is a farmhouse-styled urban loft or a slick Scandinavian modern located in the country. Little about these homes reflects the style and personality of their owners, much less the neighborhood in which they are located.

Capturing personal style is the key to a warm and inviting home. By designing a space that incorporates lifestyle, there’s always room for the fascinating vase found on vacation or a bright, bold rug that caught the eye. Rather than chase the latest update, building a timeless environment offers a home that the owner will love and appreciate for years to come.

It may finally be time to ditch the trend-driven approach to decorating and embrace our personal style. A beautiful and welcoming home is the best design there is.

Unusual but Important Considerations When Choosing the Right Neighborhood

Most people know that choosing the right neighborhood is one of the most important aspects of a great lifestyle. When buying a new home, this becomes even more important. While everyone knows that property values, safety, schools, and commute ranks high in importance, there are some considerations that are not commonly thought about in advance yet make a huge impact on satisfaction.

· Vibrant Community and Social Scene – While some people are looking for a quiet life in the country, for those craving more action, consider this when choosing a neighborhood. Look for farmer’s markets, art galleries, festivals, bars and clubs, community events; ways to create a sense of belonging and involvement.

· Pet-Friendly Environment – For pet owners, finding a welcoming community for their furry friends is important. Look for places with lots of green space, dog parks, and pet-friendly establishments.

· Unique Architectural or Historic Value – There are many cities with historical districts and heritage sites. Buying a home in these areas can be a distinctly inspiring experience. One caveat, before buying, it’s important to make sure to understand the rules and restrictions; often there are ordinances which prevent changing the exterior of the home.

· Natural Surroundings – For nature enthusiasts, living near green spaces and outdoor recreational opportunities can be important. In addition to community parks, trails, or lakes, these buyers should consider proximity to national parks, BLM land, or public waterways.

· Sustainable and Eco-Friendly Communities – If environmental sustainability is important, then look for communities with eco-friendly policies and amenities. Watch for communal gardens, bike lanes, and renewable energy initiatives.

Choosing the right neighborhood is about more than just property values and school systems. By looking beyond the traditional aspects and considering the unique things that enhance lifestyle, buyers can make sure that the community, as well as the home, suits their needs.

5 Important Things to Consider Before Buying a Fixer-Upper Home

Purchasing a fixer-upper property can be an exciting and rewarding experience. HGTV is filled with programs of amateurs knocking down walls and tiling bathroom floors. The fact is that this is much harder than it looks and before diving headfirst into this kind of project, it’s critical to consider whether you are prepared for the venture.

5 Important Things to Consider Before Buying a Fixer-Upper Home

1. Financial Planning – The first step in buying a fixer-upper home is to establish a realistic budget. Include the purchase price, repairs costs, and any expected expenses for renovation or restoration. Once you have created a “known” list, then add extra for unexpected issues that will arise.

2. Time and Effort – Renovating a fixer-upper takes time and effort, even if you hire a general contractor to oversee the project. Consider the overall scope of the project and evaluate your skills and level of time commitment.

3. Structural Condition – Before making an offer, thoroughly inspect the property’s structure and foundation. Recognize the impact of any issues uncovered and make sure to budget for the proper corrections.

4. Real Estate Market and Location – Even a beautiful home in a terrible area is a bad investment. Consider such factors as property values, market trends and the potential for future appreciation. Work with a financial planner to make sure the investment fits your long-term goals.

5. Legal Considerations – Before writing the offer, familiarize yourself with local building codes, permit requirements, and zoning regulations. Ensure the changes you anticipate align with local requirements.

Purchasing a fixer-upper home can be a wonderful investment and worthwhile project. By evaluating your budget, time commitment, property condition, and potential appreciation, you can be sure to choose the right situation for your goals and experience

Unusual but Important Considerations When Choosing the Right Neighborhood

Most people know that choosing the right neighborhood is one of the most important aspects of a great lifestyle. When buying a new home, this becomes even more important. While everyone knows that property values, safety, schools, and commute ranks high in importance, there are some considerations that are not commonly thought about in advance yet make a huge impact on satisfaction.

· Vibrant Community and Social Scene – While some people are looking for a quiet life in the country, for those craving more action, consider this when choosing a neighborhood. Look for farmer’s markets, art galleries, festivals, bars and clubs, community events; ways to create a sense of belonging and involvement. ·

Pet-Friendly Environment – For pet owners, finding a welcoming community for their furry friends is important. Look for places with lots of green space, dog parks, and pet-friendly establishments.

· Unique Architectural or Historic Value – There are many cities with historical districts and heritage sites. Buying a home in these areas can be a distinctly inspiring experience. One caveat, before buying, it’s important to make sure to understand the rules and restrictions; often there are ordinances which prevent changing the exterior of the home.

· Natural Surroundings – For nature enthusiasts, living near green spaces and outdoor recreational opportunities can be important. In addition to community parks, trails, or lakes, these buyers should consider proximity to national parks, BLM land, or public waterways.

· Sustainable and Eco-Friendly Communities – If environmental sustainability is important, then look for communities with eco-friendly policies and amenities. Watch for communal gardens, bike lanes, and renewable energy initiatives.

Choosing the right neighborhood is about more than just property values and school systems. By looking beyond the traditional aspects and considering the unique things that enhance lifestyle, buyers can make sure that the community, as well as the home, suits their needs.

Have You Hired the Wrong Agent?

Just the title of this article will make professional real estate agents cringe because they have heard it before. While most agents offer strong and vigorous representation, occasionally sellers run into one that just isn’t meeting the expectations. The good news is that even if you’ve signed a contract with one of these agents, you may not be stuck.

The first step is to realize that you picked the wrong agent. Ask yourself:

· Is my agent properly marketing my home for sale?

o Did they use professional photographers, videographers or drone providers? o Is my home listed on all the public search websites?

o Are they holding open houses for the public and real estate agent showcase?

· Did my agent offer a complete market analysis?

o Did you see comparable properties that sold recently?

o Are you priced competitively?

· Does your agent respond quickly to other agents and to you? ·

How often do you hear from your agent? A couple of times a week should be the minimum.

· Do you get quick feedback after a showing? Most importantly, do you still have questions that are still unanswered by your agent?

If any of these questions sound familiar, you may have hired the wrong agent. Good news though, you have options. Immediately contact the managing broker for your agent – they can be found in the office where your agent works. Explain your concerns and ask for help. Your contract is with the brokerage, and not the specific agent. They may reassign your listing to another agent or may cancel if it makes sense.

If you suspect you’ve hired the wrong agent, talk to the broker and resolve the issue as quickly as possible. Wasting time can only cost you money.

Solar Rings – Cheap and Eco-Friendly Pool Heating

Everyone is looking for ways to save on energy costs. Many people have had to change the way they behave – larger laundry loads, fewer lights in the evening, fans vs air conditioning – and even more have looked to alternative options, such as solar. These methods are not always easy or inexpensive, at least not up front. The great news is that there is an inexpensive and eco-friendly way to heat your pool this summer and save hundreds of dollars in the process by using solar pool rings.

Solar pool rings are floating devices that contain UV-resistant vinyl material that traps the heat to warm the pool without using the heater. The rings are made of 2 layers. The top layer guides the sun to the lower layer which converts the rays to heat. Not only do these rings effectively trap and disperse heat to the water, but they also reduce evaporation, saving money on water bills.

Solar pool rings can also be effective as barriers against backyard debris, which can throw the chemical balance off. Solar pool rings typically come in sets of 6 and most pools can be covered for less than about $400. They are simple to inflate/deflate for storage and are suitable for all pool types. While solar rings will never heat a pool as quickly as a pool heater, with regular use and plenty of sunshine, these devices save money and extend the pool season in most climates.

“Date the Rate and Marry the House” – Is This Still a Good Idea?

You’ve heard the old expression, “Date the Rate but Marry the House.” The idea is that you can always refinance the loan, but the right house may not come around again. But with rising interest rates and falling home inventory, many buyers are wondering if this mantra still rings true. Should you marry the house at whatever interest rate is available?

First, the US lending market has been experiencing record low interest rates. In May of 2000 saw the 30-year fixed rate rise to an average of 8.6% before falling to 6.5% in July of 2008. Historically, any long-term interest rate under 6.5% was considered exceptional. The pattern of rising and falling interest rates has been repeated multiple times in the past 40 years and likely will continue.

While purchasing an unaffordable home with the hope of refinancing quickly into a lower rate is a poor strategy, so is waiting on the home that you like or need if you can manage the payment. A simple truth of the housing market is that as rates increase, home values usually decrease as more buyers are forced from the market. This offers the opportunity for buyers to find a home previously unaffordable. When rates do decline, they can refinance for even more savings.

The concept of “Date the Rate and Marry the House” is not new. Home buyers in this real estate climate need to be more intentional about the home they choose and the costs incurred. Rates will most likely increase before they fall, so weighing the lower home price to the higher interest rate is a personal decision to be taken carefully.

Basics of a Successful 1031 Exchange

A 1031 Exchange is a potential option for investors who may be interested in deferring taxes when selling an investment property. By reinvesting the proceeds into another investment property, investors have the opportunity to take advantage of real estate market opportunities without having to pay taxes on their profits immediately. It is important to note, however, that this strategy comes with strict rules that must be followed carefully in order to ensure a successful exchange.

In order to be considered for a 1031 Exchange, the properties involved may need to be investments and not for personal use. Additionally, it is generally required that the properties be like-kind, although they do not have to be exactly identical.

There are many different types of investments that could potentially qualify for a 1031 Exchange. For instance, an investor may choose to exchange a multi-family apartment complex for a shopping center, or a commercial office building for a rental property. Ultimately, the specific circumstances of each investor's situation will determine whether or not a 1031 Exchange is the right choice.

The timing of a 1031 Exchange is crucial, and investors should aim to identify a replacement property within 45 days of selling the original property, with the exchange being completed within 180 days of the sale.

Working with experienced real estate professionals who have knowledge and expertise in 1031 Exchange transactions can be helpful, as mistakes can be costly if the rules are not followed precisely. While a 1031 Exchange can be a valuable strategy for investors, it is important to keep in mind that individual circumstances can vary, and it may be wise to seek personalized tax advice from a Certified Public Accountant (CPA) or tax advisor to determine if this strategy is suitable for a particular investor.

Click on the link below if your interested in investing.

Advantages of a Multi-Generational Home

The concept of multi-generational living has been gaining popularity in recent years as more and more Americans are choosing to share their homes with family members of different ages.

For one, financial considerations play a significant role in the rise of multi-generational living. Younger people who may struggle to afford their own homes are increasingly opting to live with their parents or grandparents in order to save on housing costs. This can be especially appealing in expensive urban areas where housing prices are sky-high. At the same time, older parents or grandparents may prefer to live with their families rather than in assisted living facilities, which can be costly.

In addition to financial benefits, multi-generational living also offers emotional support and companionship to family members of different ages. In the past, several generations often lived together and supported each other emotionally and practically. Nowadays, families are rediscovering the benefits of this approach to living. Older family members can offer help and guidance to younger generations, while also receiving care and assistance when needed. This can be especially valuable as family members age and face health issues or other challenges.

Furthermore, multi-generational living can foster a sense of community and interdependence. By sharing a home and living space, family members of different ages can develop stronger bonds and a deeper sense of connection. This can be especially important for children, who benefit from having close relationships with grandparents or other older relatives.

As the trend towards multi-generational living grows, homeowners are finding creative ways to accommodate the different needs and preferences of family members. One popular option is the use of tiny home-style "granny flats," which offer a self-contained living space that is connected to the main house. This allows older family members to have their own space while still being close to their loved ones.

While multi-generational living may require some adjustments and compromises, many families are finding that it is a rewarding and beneficial way to live. It offers financial benefits, emotional support, and a stronger sense of community and interdependence. As such, it is no surprise that this trend is on the rise and is likely to continue to grow in the years to come.

Tips for Touring Listings with Children

Searching for a new home can be an exciting adventure, but it can also be a stressful experience, especially when you have young children in tow. It can be difficult to keep them entertained and engaged while you're trying to focus on evaluating potential properties. However, with a bit of planning and preparation, it is possible to make touring properties with children a more enjoyable and successful experience.

In this blog post, we'll share some tips and tricks to help you navigate the process and find your dream home while keeping your little ones entertained and happy.

Simple Tips for Touring Listings with Children

· Be Safe – First and foremost, it’s important to keep your children safe. Do not assume that the home is child-proof, in fact, assume the opposite. Kids love to poke around. Be aware that there could be dangerous chemicals and products within their reach. Medicine cabinets could have potent drugs and cleaning supplies may be under the sink.

· Be Respectful – Often family homes have toys and other children’s items within easy reach but it’s important to keep your own kids from playing with these toys. It may be a tempting way to avoid boredom, but be respectful of the home.

· Plan Ahead – Remember that your children may be bored or hungry. Plan ahead; keep food and drink in the car to snack on between showings or consider taking turns with a spouse to allow the children to stay in the car with toys or videos. Finally, if you can, limit the amount of time you are out looking at homes.

Touring properties with children can be a challenge, but with the right approach, it can also be a fun and rewarding experience for the whole family. By keeping your children engaged and entertained, you can focus on evaluating potential properties and finding your dream home. Remember to plan ahead, bring snacks and toys, and involve your children in the process. With these tips and tricks, you'll be well on your way to finding the perfect home for you and your family.

Creative Ideas for Decorating Your Home on a Budget

Decorating your home can be a fun and exciting experience, but it can also be a costly one. However, with a bit of creativity and some DIY skills, you can decorate your home on a budget and still achieve the look you want. In this blog post, we'll share some creative ideas for decorating your home on a budget.

Shop Secondhand One of the easiest ways to decorate your home on a budget is to shop secondhand. You can find some incredible deals on furniture and decor items at thrift stores, garage sales, and online marketplaces. Don't be afraid to haggle a bit to get an even better deal. You may also want to consider attending estate sales, where you can often find unique and high-quality pieces at a fraction of their original cost.

Repurpose and Upcycle Another way to save money on home decor is to repurpose and upcycle items you already own or find secondhand. For example, you can turn an old ladder into a stylish bookshelf or a set of vintage suitcases into unique side tables. With a little creativity and some basic DIY skills, you can transform almost anything into a decorative and functional piece for your home.

Use Wall Art Adding wall art to your home is an easy and affordable way to add some color and personality to your walls. You don't have to spend a lot of money on original artwork; there are plenty of affordable prints, posters, and photographs available online. You can also create your own wall art by framing fabric swatches, postcards, or even pages from old books.

Add Plants Plants are an inexpensive and easy way to bring some life and color into your home. You can find a variety of affordable indoor plants at your local nursery or online. If you're on a really tight budget, you can even propagate plants from cuttings or rescue plants from the clearance section at your local nursery.

Use Textiles Another way to add some color and texture to your home is to use textiles. You can find affordable throw pillows, blankets, and rugs at discount stores, online retailers, and even thrift stores. You can also create your own textiles by sewing your own pillow covers or weaving your own rugs.

Create a Gallery Wall Creating a gallery wall is a fun and easy way to display your favorite photos and artwork. You can use a variety of frames and matting styles to create a cohesive and stylish look. You can also mix in other decorative items, such as mirrors and wall-mounted shelves.

DIY Your Furniture If you're feeling adventurous, you can try your hand at DIY furniture projects. There are plenty of tutorials and plans available online for everything from coffee tables to bed frames. Not only can you save money by making your own furniture, but you can also create unique pieces that reflect your personal style.

In conclusion, decorating your home on a budget is a fun and rewarding experience that doesn't have to break the bank. By shopping secondhand, repurposing and upcycling, using wall art and textiles, adding plants, creating a gallery wall, and DIYing your furniture, you can create a beautiful and personalized home without spending a fortune.

FICO Shock? Your Lender Can Help with a Rapid Rescore

If you’re ready to buy a new home, you know that a good FICO score is critical to the process. Your FICO affects not just your ability to buy a new home, but the interest rate and fees you’ll pay for the new loan. Often, buyers are shocked to realize their credit score is not as high as they thought. Even borrowers who always pay their bills on time can be surprised by a lower FICO score when they apply for a loan. Fortunately, your lender can help with a rapid rescore process.

A rapid rescore is initiated by your lender to boost your FICO in days. Most lenders offer this service and will start by reviewing your credit report with you. Lenders use what’s known as the “middle score,” in determining risk. There are three credit bureaus – Transunion, Equifax, and Experian – and they each calculate your score a little differently. The middle score is used for most home loans as your FICO.

Your lender has a program which can estimate your rescore based on removing false reporting or lowering the balance on a credit card. Even paying off one card can raise your score by 20+ points, enough to make a huge difference in your mortgage interest rate. Once the steps are determined and taken, they then request the credit bureaus to verify the report. This takes a few days. Then the new score will be available to the lender to use for your loan.

If you are considering a new home loan, it’s important to know your credit score ahead of time, when you can still correct mistakes. But, if you are already in the process, your lender may be able to use the rapid rescore process to quickly increase your score and offer you a better loan.

Seller Concession Limits

The real estate market is shifting. In some areas of the country, it has flipped to a strong buyer’s market. Sellers challenged by this change are looking for creative ways to attract buyers. In addition, buyers suddenly in the driver’s seat are asking for more concessions from sellers than ever before.

Seller concessions are a useful tool in real estate. Used correctly, it can benefit both buyer and seller. For example, concessions can be offered in lieu of seller repairs or upgrades, saving out of pocket cash in an uncertain market. Buyers can also benefit from “financing” some of their own out-of-pocket costs for specified fees and charges.

However, there are limits to what the lender will accept for seller concessions and understanding this ahead of time can save time and frustration. Here is a snapshot of the most common loan types and concessions possibly allowed (always check with your lender).

Conventional (Fannie Mae/Freddie Mac):

· 25% down payment – 9% concessions

· 10-25% down payment – 6% concessions

· <10% down payment – 3% concessions

FHA : 6% maximum concession

VA: 4% closing costs concession

USDA: USDA allows the seller to pay all the closing costs and prepaid for the buyer with no percentage limit. Other restrictions and considerations apply, so speak with your lender.

Seller concessions are a great way to save cash on both sides. Used properly, it can be a great tool to put real estate transactions together in a challenging market.

How to Use Comps to Price Your Home Correctly

The most important aspect of listing your home for sales is the asking price. Unlike many other items we purchase, home prices are based on what a willing and able buyer would pay for the property. Sounds complicated, right? This is why real estate agents bring comps ( short for comparable properties) information with them to the discussion. Yet are you using the right comps to successfully sell your home? The idea is to gather information about comparable properties that have sold recently that are similar to your own. The goal is to compare apples to apples. In other words, the properties should be as close to the subject home as possible. This includes things like:

· Location – how far is the property from yours.

· Size – square footage is an important aspect of value.

· Number of bedrooms/bathrooms – even if the square footage is close, the number of bedrooms and bathrooms can have a large effect on price.

· Style, view, street, yard – even the exact same floorplan can have vastly different value based on the street it’s on or the view. Size of the yard and privacy are also critical components of value.

· Amenities – private or community pools and other amenities can affect value as well.

Your agent will bring recent sales for homes that compare to yours. As you look through these listings, you can add or subtract values based on the differences. This is the same process an appraiser will use to approve the loan. While this is more of an art than a science, the right comps can help you properly price your home for a smooth sale.