Jeff Hammerberg

/ /

How end of foreclosure moratorium may impact LGBTQ homeowners

Almost anyone who has ever purchased a home would agree – it is a very special and meaningful moment in life. For most of us, and often perhaps especially for those in the LGBTQ community, a home can be a place of refuge – a place where you can be part of a community and a neighborhood of others to whom you feel connected. It can be a place of support, celebration, and a starting point from which to thrive and grow with others you care about. 

Understandably, then, the idea of losing that home that you love so much can be overwhelming, to say the least. Unfortunately, that’s exactly the predicament that many homeowners found themselves in as a result of the recent pandemic and all that has accompanied it. 

Until recently, under the Cares Act, homeowners across the country who found themselves in a difficult financial position as a result of the pandemic and were having difficulty making their mortgage payments were offered two types of protection: first, a foreclosure moratorium that prohibited banks from foreclosing on homes, and secondly, the right to request and receive a forbearance, which would permit homeowners to temporarily stop making mortgage payments. Both gave homeowners the option to breathe a little easier as they tried to navigate all of the unanticipated life changes that accompanied the pandemic.

Recently, however, after being extended several times, the federal moratorium on mortgage foreclosures ended. Understandably, many homeowners, including many in the LGBTQ community who relied upon the moratorium may now find themselves feeling overwhelmed and anxious about what this means from a practical perspective. Does it suddenly mean that homeowners will find themselves faced with thousands of dollars of overdue payments that had been on hold for more than a year? 

If you find yourself asking this question, know first, that you aren’t alone. It’s estimated that around 1.75 million homeowners, or approximately 3.5% of all homes, are in some stage of the foreclosure process with their bank. While it’s understandable to wonder and feel worried, try not to panic. While the end of the foreclosure moratorium does mean that lenders can proceed with foreclosures, LGBTQ homeowners who find themselves in a difficult situation can still reach out for help, and there are resources available.

The Consumer Financial Protection Bureau has advised that those who received forbearance under the Cares Act and who are still experiencing financial hardship as a result of the pandemic may have the opportunity to ask for and receive an extension. The federal government has also offered a series of measures that are intended to help prevent foreclosures, including:

• Providing qualifying homeowners with what roughly amounts to a 25% reduction in monthly principal and interest payments;

• Continuing the requirement that mortgage servicers give those borrowers who can resume payments the option of moving missed payments to the end of the mortgage at no additional cost;

• Offering assistance to those who are making less than they did before the pandemic, which will help them to seek work and catch up on missed tax and insurance payments.

It’s also important to keep in mind that ultimately, banks don’t currently have much incentive to foreclose on those homeowners who are behind on their mortgages. Housing prices have been steadily rising, meaning that few homeowners owe more on their mortgage than the overall value of their homes. As a result, banks are often more likely to restructure a loan, or possibly place missed payments on the back end of a mortgage. In some circumstances, a bank may attempt a forced sale instead of a foreclosure – allowing the bank to get some of its money back, and the homeowner to receive the equity they built in the home, and to move forward without a negative mark on their credit report.

In addition to helpful options offered by the government, LGBTQ homeowners facing foreclosure should reach out to their local communities and explore options that may be available there as well. Talk to realtors who know the community well and who may be aware of local assistance, counseling, or other resources. Reach out to family and friends who have been through this situation before. Don’t be afraid to ask for help. Sometimes, we all need it.

Lastly, it’s important to remember that any legal proceeding takes time – typically, a foreclosure proceeding takes at least 120 days per federal law, as well as additional time for court proceedings. For that reason, instead of panicking, remember that you have time to plan. Reach out to family and friends for leads on places that you may be able to rent or stay at while you work to get back on your feet financially. Take advantage of any offers that your bank or lender may make to work through your current financial issues and come out in a better place on the other side, if possible. Most of all, remember that this time, like all difficult times in life, is temporary. You will find a way forward, and there is a better and brighter chapter ahead. At GayRealEstate.com, we’re here to help you get there.

At GayRealEstate.com, helping the LGBTQ community through every aspect of the real estate experience is our passion. In many cases, this means offering assistance with the home buying and selling process and connecting LGBTQ home buyers and sellers across the country with realtors who know and love their communities, and who can ensure that the buying and selling process is the best it can possibly be. In other cases, it means being there for our LGBTQ communities across the country and helping existing homeowners continue to love and live in the homes that they own. Whatever your real estate needs, we would welcome the opportunity to speak with you and learn how we might be able to help. Contact us at any time.

Jeff Hammerberg is founding CEO of Hammerberg & Associates, Inc. Reach him at 303-378-5526 or  [email protected]. 

/

Are You Ready to Buy a House?

Preparing to buy a house can be a major undertaking, especially if you have never done so before. While technology has helped reduce the amount of paperwork and stress involved in getting a mortgage, it still is not exactly a quick or simple process. It can be made even more frustrating if you begin the mortgage process only to find out that most lenders do not believe you are in a good position to take on this large amount of debt. There can be a number of reasons why lenders may decline your application, that’s why it is important to sit down and determine if you are ready to buy before you begin the actual loan application process. If it looks like you’re not ready, you can create a plan to address the reasons why a lender may deny your loan application.

Look at Your Credit Score 

When a lender pulls your credit report, they are going to look at both your credit score and your credit history. Your credit score is one of the key factors used to determine whether or not you are credit-worthy. It also plays a part in determining your mortgage’s interest rate as well. The higher your credit score, the more likely you will get the current prime rate because lenders will be feel more confident that you will not default on your mortgage. Those with lower credit scores are seen as more of a risk, so lenders charge a higher interest rate as a way of mitigating what they see as potential losses. 

For most conventional mortgages, lenders are looking for a credit score of over 700, though generally lenders accept applications from those with scores in the high 600s. For couples or joint applicants, one applicant’s high score can sometimes help to balance out the other applicant’s lower score. For those applying for mortgages through the VA, FHA, or other lending programs, you may find that it is easier to get approved with a lower credit score. 

Request a Free Credit Report

Federal law allows an individual to request a free copy of their credit report once per calendar year, plus many credit card companies and credit reporting agencies provide a limited version of this report for free. By looking at your credit report, you can learn your current debt-to-income (DTI) ratio, what accounts have reported late or show missed payments, and other important information. This is also a helpful tool in determining whether or not something has been reported incorrectly or if your identity has been stolen. Should you find any discrepancies in your credit report, it is paramount that you address these issues immediately. The sooner these discrepancies are corrected, the easier it will be to secure a mortgage.

Consider Your Current and Future Debts

If your credit score is within the desired range and your credit history is clean, the next factor to evaluate is your debt. First, look at your current DTI. Ideally, your DTI will be 36% or less. This means your total regular monthly debts are less than 36% of your monthly income. There are a few things to note when calculating your DTI. First, lenders generally look at your gross monthly income rather than your net income after taxes and other deductions. Second, DTI only looks at credit debt, such as auto loans, credit cards, student loans, and other types of tangible debt. It does not include monthly expenses such as utility bills or food costs.

While 36% is a fairly standard number for a conventional mortgage, other types of mortgages may allow for a higher DTI. It’s also important to look at both front-end and back-end DTI. Front-end DTI is the cost of your potential mortgage payment, insurance, property taxes, and any other fee (HOA, etc.) associated with buying a new home. Ideally, this DTI will be 28% or less. The back-end DTI is as described above—the ratio of all of your credit card debt and other loans to your income. Having low front-end and back-end DTI is ideal before you apply for a mortgage.

Are You Ready to Buy?

Now that you are armed with your credit score, credit history, and financial information, you can determine if you are in a position to buy a house now. If your credit score is under 650, if you have blemishes on your credit history, or if your DTI is high, you may want to put off buying property for a year or so. During that time, you can work to improve your credit score and DTI. You can also work with creditors and credit reporting companies to remove negative entries on your credit report, especially if you do not recognize the debt. 

Real estate professionals may not be lenders or financial experts, but many have learned about the process and can recognize those who are in a good position to get a mortgage. If you have started looking at properties and are concerned you may not be in a position to purchase one at this time, you can discuss your budget with your agent. Often, they will be able to help you get a general idea of what you can afford before you sit down with a lender. They may also be able to suggest ways you can improve your viability for a mortgage or help you find a great finance officer to work with through their network of professionals.

If you are a part of the LGBTQ community, you may want to work with a full-time professional gay or lesbian real estate agent. These experts understand any unique needs you may have as an LGBTQ individual or couple and can help make the entire process much more enjoyable. Feel free to reach out to any of the agents here at www.GayRealEstate.com, where we have been helping the LGBTQ community with home buying and selling since 1991.

/

Understanding the Notice of Inspection Process

If you haven’t purchased a home before, you will get a crash course in real estate vocabulary. One term you’ll likely hear that you probably aren’t familiar with is “Notice of Inspection.” This is a very important document that you must fully understand because it can save you a large amount of money. Let’s take a look at what a Notice of Inspection is, why it is so vital, and what role it plays in the home buying and selling process.

What Is a Notice of Inspection?

When you have a home inspection done, it’s very likely that the inspector will provide you with a list of items that need to be treated, repaired, or replaced. Unless the home is a new build, there will be at least a few minor things on the inspection report that are not in perfect condition. If these items are truly minor issues that you do not mind either fixing yourself or accepting as they are, you simply ignore them, complete the transaction, and enjoy your new home. For example, the inspection report may note that there are light bulbs burnt out or that there is a small hole in a window screen in the master bedroom. 

However, if there are major items that need to be addressed, especially if those items include things such as insect infestations or damage that affects your safety, you will want those items repaired or replaced before you buy the home. These are the items you list on your Notice of Inspection document. At this point – everything on your list is negotiable… in some cases, the seller may address these items and make changes to your satisfaction before you move to closing, or the seller may completely reject any corrections, or even re-negotiate the purchase price in lieu of corrections.

When Do You Submit a Notice of Inspection?

When you put in an offer on a property and the seller accepts it, you start a number of different clocks. One of these clocks has to do with the inspection period. Typically, you have a ten-day period until the Inspection Objection Deadline to complete any inspections you want. This deadline is usually three days after everyone has signed the contract. For example, if you put in a bid on June First and the seller accepted and signed the contract on June Second, the third day would be June Fifth, three days after the last signature was added to the contract. Your Inspection Objection Deadline would then run from the Fifth to the Fifteenth. 

Once the inspection is done and you have the report, you can put together your Notice of Inspection and submit it. In general, you want to do this as soon as you can so negotiations for a mutually acceptable resolution may begin. 

Be certain you are clear on the amount of time you have to complete your inspection. While ten days is somewhat typical, that time period is not set in stone and can be modified to any length in the contract. 

What Does a Notice of Inspection Include? 

You can basically include anything from the inspection that you want the seller to repair or replace in a Notice of Inspection. In some cases, your lender may require some repairs before they will approve your mortgage; for instance, on an FHA loan, the FHA inspector will require any peeling paint to be scraped and repainted (as an example). Any damage or issues with the structure of the building, anything that presents a safety issue, or any part of the home that is not up to code will most likely have to be addressed before the lender will sign off on the loan.

Additionally, there may be things you may want the seller to repair or replace that are not required by the lender. These include things such as a cracked window, torn or stained carpet, leaky gutters, a closet door that doesn’t latch properly, and other minor or cosmetic items. You can include as many or as few of these items on your Notice of Inspection as you wish. 

The seller does not have to agree to complete any of these items that the lender does not require. If they decline to make some of these repairs, you must decide if you’re willing to complete the purchase of the property or if you want to back out of the contract. In some cases, the seller may instead offer to purchase a home warranty for you, may offer to drop the selling price if you agree to do the repairs yourself, or may simply decline to make the repairs. 

Your real estate agent is an invaluable resource during this process. They have completed hundreds of Notice of Inspection documents in the past, and they will be able to help you determine what is a necessary repair and what isn’t. 

Those in the LGBTQ community may want to seek out the services of a full-time professional gay or lesbian real estate agent. In addition to helping you navigate the buying process, they understand any unique needs you may have as an LGBTQ individual or couple, and may make you feel more at ease. Feel free to reach out to any of the agents at www.GayRealEstate.com, where we have been helping the LGBTQ community with home buying and selling since 1991.

/

Everything You Need to Know About the Home Inspection


When buying a home, one of the most important steps prior to closing is having a home inspection. This inspection is done by a professional and can reveal many things about your potential new home that you may not have known. It’s essential that you have one of these inspections done so you know if there are any potential issues with the property. 

While appraisals are generally required for those buyers who are taking out a mortgage, you do not have to have an inspection. However, it’s highly recommended that you do. You do usually have a specific period of time in which to have a home inspection done. The normal period is ten days after your offer is accepted. If you do not have an inspection done within this time, you may no longer have the option of doing one.

What Will the Inspector Do?

Your real estate agent will usually arrange for the inspection on your behalf, but you have the right to be at the property while the inspector is there. Usually, your agent or someone from their office will be there as well. You can talk to the inspector about any concerns you have and ask questions.

Most inspections take about two hours, and the inspector will examine the property from foundation to roof. They will look for signs that the foundation is sinking, check all electrical outlets and fuses, get up on the roof, and much more. These inspections are designed to be incredibly thorough. Everything from doors that don’t latch quite right to major roofing issues will be listed on the report you receive. They will take photos of anything they believe is a problem.

It usually takes a few days for the inspector to complete their report. When they do, as the buyer, you are entitled to a full copy. Your agent should provide you with the report. If they do not send it automatically, you can request it. This report will detail all of the findings and include a summary page of all issues found. It will include photos of specific issues, suggestions such as “consult an engineer,” and may even include estimates for repairs.

One thing to keep in mind is that a home inspection is not a complete process. There are things that inspections do not look for. To find a full list of what is not inspected, it is best to ask your agent. However, some common things that inspections do not always cover includes areas where insulation is missing, problems with the septic tank or sewer lines, the roofing material itself, and smells within the home. While not all of these may not be immediate issues, some of them can lead to expensive repairs down the line. 

What Do You Do with this Information?

Once you have the inspection report, you have a few decisions to make. First, if the report has uncovered major issues that were not disclosed to you before you put in your offer, you may make the decision to withdraw the offer. This is completely within your right, and your earnest money will be returned to you in full. However, you will likely still be required to pay for the home inspection. Fortunately, inspections often cost no more than $500, so it’s not a major expense.

Your second option is to reopen negotiations with the seller. If the inspection indicates major foundation issues, you may ask that the seller either pay for repairs or reduce your offer. You may go back and forth a few times, but if both parties can accept the new terms, you can move forward with purchasing the home.

Your third option is for your agent to create an “Inspection Resolution” request. This is a list of repairs you are requesting be completed prior to closing – submitted in writing to the seller. The seller does not have to complete any of the listed items, but if choose that route, you then have the option of withdrawing your offer without penalty. If the list is fairly minor or if the seller is motivated to sell the property quickly, they are likely to agree to complete what you have asked them to.

In some cases, the seller may offer you a credit rather than completing the repairs/replacements. This credit may be taken off the total price of the property or applied to your closing costs. This is often done when the seller is unable to afford to do many repairs, is in a time crunch, or lives out of state and would have difficulty coordinating contractors. In some cases, such as an FHA mortgage, a cash reduction may not be an option. Your lender may require specific repairs to be done before you can receive a loan – you’re agent will guide you in this regard.

Have the Right Agent on Your Side

A home inspection may reveal very minor issues that you can overlook, or it may bring to light necessary repairs that could cost thousands of dollars. Either way, you want to make certain you have the right agent on your side to help you negotiate these repairs. For those who identify as a part of the LGBTQ community, having a gay, lesbian or gay friendly agent can be helpful. These agents understand the particular needs and concerns of our community. They will be able to help you find the home that meets all of your needs, and is in the condition necessary for you, you and your partner, and/or family. You can connect with an agent online at www.GayRealEstate.com, a website that has been helping the LGBTQ community with home buying and selling for over 25 years – there is never a cost or obligation.

/ /

Ways of Getting Your Home Noticed By Springtime Buyers


Do you plan on selling your home this spring? The best way to ensure that your home gets the attention you want it to, is to make sure it is totally ready for when those buyers start looking at the local real estate market. Here are some tips that you can use to make sure your home is ready to get noticed, both inside and out. The more of these things you can get done, the better!

Start by Cleaning Up the Outside

Take a few minutes to check the outside of your home. Since it is spring, no one expects the outside to be perfect. This is especially true if you live in an area where it snows. However, taking the time to trim bushes, rake the yard if you can, and make sure that the landscaping is not covering walkways can go a long way towards making a great first impression. Taking this one step further by cleaning the front door, wiping down the mailbox, and making sure your front porch light works can make your entryway appear even more inviting. 

Make the Outside Inviting, If You Can

If it is already warm where you are, then add some nice color to the outside of your home. Add a few small planters with some flowering bulbs or spring flowers. The little splashes of color make your visitors more able to picture themselves living at the house. You do not need to put a lot out there, just a few small planters or a nice window box near the entryway is enough. For those with winter weather, you can opt for fake flowers, or you can use small lights or decorations instead. 

Shine All Glass Surfaces

Take the time to wash all of your windows, polish all of your mirrors, and dust off any reflective surface in your home. Windows that are difficult to see out of, or mirrors that are smudged give the impression that the house has not been maintained as well as it should have been. If something as simple as mirrors and dusting is not kept up with, what about the bigger parts of the house? Keep up with the small details because buyers notice these little details. 

Dust Off Stationary Materials of Your Home

One area of the home that often gets overlooked is stationary materials within your home. Take the time to vacuum your stationary drapes and get the dust off of them. An even better option is that you can take them to the dry cleaners. Get them clean and fresh smelling. While most people will only look at them, someone who is seriously giving your home buying consideration will go up and move items like these around. Vacuum off any of your furniture that will be there during the open house or walk-through as well, for the same reason. The fresher the area smells and looks, the happier potential buyers will be. 

Sharpen the Look of Any Room You Can

Taking $20 or $30 to update a room’s look is well worth it when it comes to making your home look and feel more inviting. Add a fresh coat of neutral colored paint, and make sure the flooring of the room is as clean and nice looking as you can make it. Get the carpet steam-cleaned if it hasn’t been done recently, or have your wood floors polished. Those simple changes can give your room a welcoming feel that invites potential buyers in. 

Make Any Simple Repairs That Stand Out

You may have gotten used to not opening a window in that back room because there is a hole in the screen and you do not want bugs to come in, but a potential buyer does not know that. They are only going to see that you didn’t take care of a small detail. It takes a few minutes and very little money to replace a screen. Check all windows for these types of problems, and fix any you find. 

The same goes with other areas of your home. If you are so used to the imperfections of your home that you don’t notice them, ask a close friend or family member to look at your home objectively and point out any issues it may have. Make a list of the things they point out, and fix the things you have the ability to fix. This way, it shows that you gave your home a lot of TLC while living there, which boosts buyer confidence in your home. 

Having a real estate agent can also help you sell your home. They will point out things they know buyers will notice so that you can make changes before your home gets listed. If you identify as part of the LGBTQ community, you can also seek the help of an LGBTQ-friendly real estate agent. Reach out to us here at www.GayRealEstate.com today to find out more!

/

Preparing to Buy Your First Home

 

 

As a first-time homebuyer, you may not know what to expect during the buying process. Finding a real estate agent to work with, getting pre-qualified for your first mortgage, what to do and what not to do after getting approved for your mortgage. And then on to finding the perfect home, and learning how an inspection works.

 

If you’re preparing to buy your first home, here are several tips that will help you move through the process more quickly and avoid unexpected issues.

 

First – Finding the Right Real Estate Agent

 

The first step in any new venture is to arm yourself with a list of questions, and have a conversation with a professional – when it comes to buying a home, that’s a real estate agent.

For those who are a part of the LGBTQ community, this may mean finding a gay or lesbian real estate agent in your area. You can do this by visiting GayRealEstate.com, a website dedicated to connecting LGBTQ buyers and sellers with experienced real estate agents.

 

Second – Get Preapproved

 

Before you step into a home, you’ll visit a lender to get pre-approved… you need to know how much you can afford, and what amount of cash you’ll need for the down payment and closing costs! Being pre-approved means a lender has run your credit history, considered your income, and has determined that you qualify for a loan of a maximum amount. Being preapproved ensures you’ll not spend time looking at homes you can’t afford. When it comes time to write an offer, your pre-approval letter will show sellers that you are committed and are ready to finalize your financing to buy a house.

 

As a side note – any lender you approach for a mortgage will run your credit history. They will be able to see your missed or late payments, any loans you have defaulted on, and your total debt. Before you apply for a mortgage, pull your credit history using one of the free services. If you see anything on the report that you know is not your debt, report it. Dispute missed or late payments you know you made on time. You can also note any negative information that is accurate so you will be ready when your lender asks you about those items.

 

Understand the Expenses You’re Taking on

 

When you look at your budget to determine how much you can afford to spend on a mortgage, make certain you list all of the monthly expenses you’ll be taking on. Those who have been living in an apartment or renting may have some or even all of their utilities rolled into the rent.

 

When you buy a home, you will have to cover all of these utilities yourself. This includes water, garbage, electric, gas, phone, and internet services. You may also be required to pay a homeowner’s association fee. Property taxes and insurance are two more costs to add to your list, although they may be included in your mortgage payment.

 

In addition to these monthly costs, you will also have a number of one-time deposits to make the utility companies. Additionally, you may need to purchase yard care equipment or pay for a yard service, buy furniture, and purchase paint and other household items. You also cannot forget to budget for closing costs unless the contract specifies that the seller will cover this expense. Purchasing a home is much more than simply making a down payment and paying a mortgage.

 

Add to Your Savings

 

Many buyers work to improve their savings before buying a house so they have the finances needed to make a down payment, pay closing costs, and purchase items for their home.

 

Keep in mind if you have retirement savings you may be able to tap into that for your down payment – it may be worth it while interest rates are low. Also, family members can often “gift” you your down payment!

 

Jeff Hammerberg is the Founding CEO of GayRealEstate.com – A free nationwide database of gay, lesbian and gay friendly

/

Tips for Selling Your Home While You Still Live in it

Selling your home can be difficult, and for most of us, living there while it’s on the market can be even harder. Trying to schedule showings around your work and home schedule can drive you crazy, even with a gay real estate professional working with you.

Here are a few tips that will make the entire process easier.

Leave When an Agent Is Showing the House

First, be ready to pick up and leave at any moment. It’s very difficult for a real estate agent to successfully show your home when you’re sitting right there. Potential buyers will likely be much too nervous to really inspect the home and speak freely as they should.

Fortunately, agents are required to schedule showings and let you know ahead of time when they will be by. This will let you know when you need to make arrangements to be somewhere else, so you’re not surprised in the middle of dinner and have to walk out of your own home.

Mind Your Pets

While some people love to meet curious dogs and playful kittens, others are allergic or simply aren’t pet people. Some of our trusted companions can be nervous and unpredictable when strangers come into the home when you’re not there. For the comfort and safety of everyone involved, please take your animals with you when you leave for showings.

Clean, Clean, and Clean Some More

You can never have your home too clean for showings. Since you’re living there, you’re always going to be making small messes all over the house. Even the smallest thing like a few dirty dishes in the sink needs to be taken care of before potential buyers arrive. This means you’re going to be sweeping and vacuuming much more often than you’re used to.

 

In addition to cleaning, you also want to keep everything as organized as possible. Throw away or organize your mail each day, keep the kid’s room looking tidy, and get your closets, the garage, basement, and attic in order. That sounds like a lot of work, but if you make it a point to clean and organize every day, it won’t be that bad.

 

Put Away Anything Confidential or Valuable

 

In an age where identity theft is more common than we’d like to admit, you can’t risk leaving out anything with identifying information on it. Put away any paperwork that has your date of birth, social security number, account number, or other information on it.

 

Additionally, make sure your valuables are locked up. While a licensed real estate agent will be there with the potential buyers the entire time, you don’t want to take any unnecessary risks.

 

Remove Anything That’s Truly Personal

 

When a potential buyer sees something they find distasteful or that clashes with their beliefs, it can cause them to instantly dismiss your home from their shortlist of properties. While it’s true that your religion, political beliefs, or other beliefs have nothing to do with your home, people don’t always separate the two. To that end, it’s a good idea to remove anything that’s overly personal from sight.

 

That doesn’t mean you have to scrub your home of personality, but take a critical look at your décor. You may want to take down or put away things that you could see someone else disliking.

 

Your agent can assist you with staging your home so that it looks as bright and as spacious as possible, even while still serving as your living space.

 

If you’re looking for a LGBTQ real estate agent, they’re not hard to find. You can search online at www.GayRealEstate.com for a list of agents in your city.

/

Important Tips for Homebuyers

,

Thinking about buying a home? For many, the idea of owning their own house is very exciting. It’s a huge purchase, though—it’s probably the most expensive thing you’ll ever buy. That means it’s not a purchase you want to make on a whim. You’d be surprised, though, at how many people buy a house without truly knowing what they’re getting. Someone who may take days comparing and contrasting different cell phones or printers may jump right into buying a house without doing much investigating at all. If you’re buying a house, here are a few important tips to remember so that you not only get the best deal financially, you also get a property that will be your home for years to come.

Understand the Costs

Buying a home isn’t as simple as simply paying the asking price. In fact, there are many other costs you may have to pay, and you need to be prepared for that. These costs may include things such as mortgage insurance, homeowner’s insurance, title insurance, and a number of other things you might have to pay for. Sometimes, the seller pays some of these costs. Other times, they’re all on you. It depends on the deal you and the seller agree to. You can talk to your real estate agent about what costs you might have to pay on top of the price for the property itself.

Check Builder Credentials

Buying a brand new house can be exciting – you often get to be involved in the construction, selecting flooring, colors, and more. However, you do want to research the builder and make certain that they’re known for building high-quality homes. Some do cut corners in order to meet deadlines or come in under-budget. The last thing you want is to purchase a brand new home and then have to make major repairs within a year or two.

Explore the Neighborhood

Many homebuyers forget that they’re buying more than just the property, they’re also buying the location. Spend a little time getting to know the neighborhood. Drive around and see what’s in a 10 or 15 minute drive. You may not think that it’s important to have a gas station or grocery store nearby, but later on you might regret that decision. Also, be sure to visit the area during the day and the night. Drive around with your window down at night and listen. Do you hear dogs barking, loud music, or anything else? See what the neighborhood is like on a weekday and on the weekend. You don’t want to move into a great home only to find that you’re on a very busy or loud street.

Don’t Buy the First House You See

As with any major purchase, always shop around a bit. While the first home may seem perfect, remember that very few homebuyers find a house that truly checks every box on their wish list. Make sure each home you’re seriously considering meets your needs. It’s easy to get wowed by an impressive view or a remodeled kitchen, but you need to make sure you look past these things.

On the other hand, aesthetics do matter. You don’t want to buy a house that you don’t find particularly attractive. Yes, it’s easy to paint a few rooms or swap out a light fixture here and there, but major remodels can quickly add up. If you hate several rooms in the house, it may be best to continue your search instead of deciding to remodel later. At best, you’ll end up spending a lot more money to get the home you want. At worst, you’ll never remodel and you’ll end up spending years in a home you hate.

Find a Great Real Estate Agent

Your real estate agent is an important ally and resource in your home search. That’s why it’s important that you find someone you trust and get along with. If your agent doesn’t seem to get your style, needs, or personality, they may not be the right person to work with. Some people find that they need to connect with their agent on several levels. For example, those in the LGBT community often look for a gay or lesbian real estate agent. They feel more comfortable with an agent who understands where they’re coming from. Many people find these experts on www.GayRealEstate.com, a website specializing in LGBT real estate.

Take Your Time

Unless you’re facing a strict deadline to leave your current residence, take your time with your housing search. There’s no need to rush or to settle for a home that doesn’t meet your needs. Take your time, work with your agent, and trust your intuition. The only time you should not take your time is if you live in part of the country facing a shortage of homes for sale. In this case, once you find the perfect home, be aggressive in making your offer and in what terms you put in your offer. That way, you don’t lose your dream home to someone else.

/

Things to Do Before Listing Your Home

Are you preparing to sell your home? If so, you probably have a dollar amount that you need to get in order to pay off your current mortgage or to purchase your next home. Ideally, though, you’ll get more than that. In order to get your asking price or more, you need to make certain your house is in the best condition possible. Before you list your home, here are a few things you can do to improve your chances of getting your asking price.

The first thing you can do is paint. That may seem like a very small detail, but it can do a lot to make your home look better. Even if the paint doesn’t have any chips, scratches, or marks on it, chances are that it has faded. By putting down a new coat of paint, even if it’s the same color, you’ll make your home look better. Don’t forget to touch up the exterior, too. Your curb appeal is incredibly important. If the exterior has missing paint and is obviously dirty and dingy, you won’t get as many lookers. Even if you have recently painted, you might think about doing one new topcoat, especially over white or other light colors.

Take the time to de-clutter your home. You want a potential buyer to be able to imagine themselves living in your house, and it’s hard for them to do that if you have things spread out all over. Pick up laundry, put away your children’s toys, and straight up any piles of mail you have. Do whatever you can to make your home look as spacious as possible, even if that means putting some things in boxes or taking them out to the garage. If possible, you may even want to rent a storage unit and store a lot of your unused furniture and items there. The less stuff you have crammed in a room, the larger that room is going to look. That, in turn, will make it more attractive to the buyer.

If you’re going to continue to live in your house while it’s being shown to potential buyers, you have to keep it as clean as possible. In fact, you’re going to want to go above and beyond your normal level of cleaning. That’s going to be somewhat difficult to maintain, especially if you have children or pets, but do your best. If possible, clean some rooms and stop using them except when you absolutely need to. People will understand if you’re still living in the home, but remember, the cleaner, the better.

 

Pay special attention to the floors. In fact, you will want to have your carpets cleaned by a professional. Make sure the halls, entryway, and any other area with high traffic is given a very thorough cleaning. When someone walks into your home, they should see a pristine, clean area.

 

Your real estate agent may ask that you leave the home when someone comes to view it. Ask them to give you as much notice as possible so you can do some last-minute cleaning and straightening before you go. Don’t be alarmed at this request, either. Agents generally prefer to show an empty house. Potential buyers may get very nervous if you’re still there. They need to have the freedom to really look at the home and ask the agent any questions they might have.

 

Get the Yard in shape. Remember that one of the first things your real estate agent is going to do is take pictures of the property for its online listing. You want those pictures to look amazing. That means get your yard cleaned up, mowed, and looking as good as possible. Trim up the trees, get rid of any dead plants, and make sure there’s nothing overgrown or out of control. Even though the plants may not be a part of the house itself, people will assume you treat the house the same way you treat the yard. If it’s well-kept, they will assume the house is, too. If it shows that you don’t pay attention to it, potential buyers might assume you haven’t paid attention to any of the little details in the house, either.

 

Fix anything that’s broken or even slightly damaged. Light fixtures, windows, mirrors, towel bars, and anything else that is cracked or otherwise in need of repair needs to be fixed. What might seem like a minor thing to you may be a deal breaker to someone else.

 

Finding the right real estate agent is another key component of selling your home for your asking price. For those who are in the LGBT community, finding an agent who identifies as a member of that community can be a good idea. These agents will understand your particular needs and will be able to help you find buyers who will be interested in your home. You can find these real estate agents on www.GayRealEstate.com, a website dedicated to LGBT real estate.

 

Once you’ve found a great agent, as them to do a walk-through of your home and make notes. Your agent is going to know the market and what people are currently looking for. They will be able to make suggestions about what to change or repair in order to attract the most buyers. They may have a few ideas that aren’t on this list that buyers in your specific area have been asking for. Follow their advice—your agent is your best source of information.

 

With the right real estate agent on your side, you’ll be able to prepare your home to impress potential buyers. Just always do what you can to repair as much as possible and then keep your home clean. While it can be a challenge if you’re still living there, it will pay off in the long run.

/

How to Increase Your Home’s Value Before You List It

Everyone wants to sell their home for more money than they bought it for, but that’s not always easy. In some cases, your property value may actually decrease after you buy your home due to the value of the properties around you decreasing. Since you have no control over that, you have to look at what you do have control over: the state of your own house. If you make your house a wonderful, inviting home that potential buyers can imagine themselves settling down in, you’re likely to get your asking price and perhaps a bit more.

But how do you accomplish that? Part of it is in the staging of your home, but there are many things you can do before you even list your home to raise your starting price.

Remodeling

How many times have you seen a listing for a house that highlights the fact that at least one room has been recently remodeled? Remodeling is a great buzzword for real estate marketing, but it also gives you something to wow your potential buyers with. Remodeling is an investment, of course, but as they say, you have to spend money to make money. Sometimes, a remodel may be something you want to do to make the house fit your idea of the perfect home. Other times, it might be something you do to improve the property before selling it.

Where Do You Start?

Either way, remember you don’t have to do all of your remodeling projects at once. If you’re planning to improve the property before selling it, start with either the update that will give you the biggest increase in property value or the improvement that’s the cheapest. It really depends on your budget. If you want to bump up the value, start with the kitchen or bathroom. It’s very easy for potential buyers to see the upgrades here, especially if you have before and after photos. Remodeling your living room or bedroom isn’t as easy to see since those spaces have less to change.

 

Since you’re going to be living in the home while you’re remodeling it, remember that you’re going to have to do without the room while the project is underway. That can also factor into your decision on where to start. For example, you may not want to be without your kitchen around Thanksgiving if you’re hosting the big meal. Be sure you have time to finish the project before you need to use that space.

 

The Little Things Add Up

 

You don’t have to completely remodel a room to make it look new and different. Sometimes, doing just a little bit of touch-up here and there is all you need. A new coat of paint, new lightings, and new handles and knobs on your cabinets may not seem like much, but they can make a room look better. Even non-permanent changes such as adding a few lamps to a room that’s dark can make your staging that much better. Also, don’t forget the exterior of your home. Doing a little landscaping can greatly improve your curb appeal!

 

If you’re planning on selling your house within a couple of years, plan out one of these small upgrades every month. Some, such as repainting, may need to come towards the end of the plan, but you can work on others now.

 

Make Sure Your Home Is Clean

 

A clean house is so much more welcoming and inviting than a house that’s cluttered and looks like it needs sweeping. If you keep up with the cleaning while you’re living in the house, there’s much less to do when you go to sell it. This also helps you avoid unexpected surprises such as finding mold in your home.

 

By investing a little bit of money into your home and working on improvements over time, you’ll slowly build up your property’s value. If you’re not sure where to start, you can ask a real estate agent. These experts know what people are looking for in a home and can tell you what parts of your property are going to make buyers gasp is horror. If you’re part of the LGBT community, you can even work with a gay or lesbian real estate agent. These experts can be found on www.GayRealEstate.com.

 

Finally, remember not to go overboard with your remodeling if your neighborhood’s property values are declining or if the market is down. You don’t want to spend more than you’re going to get for your home, and that can easily happen if you don’t watch your budget.