Showing posts from October, 2019

A Good Time to Buy a Home

You may have noticed that REALTORS® seem to always think now is a good time to buy and they can usually justify it with solid reasoning.   While it can be true in general, a good time to buy has more to do with the individual than anything else.   There are four things to consider. It is a good time to buy a home when you have good credit.   Since the Great Recession and the housing crisis, lenders have been required to be sure that the borrowers have good credit.   This actually benefits not only the lenders but the borrowers because no one wants to buy something that they cannot afford and run the risk of losing it to foreclosure.   FHA has the most lenient FICO credit score of 580+.   VA requires a little higher at 620 while Fannie Mae guidelines on conventional mortgages require a 700 score. It is a good time to buy a home when you have a good job that gives you the income to qualify for the mortgage and the likelihood that you'll continue to be employed in the future.   Tw

Time for a Toilet Upgrade

Whether it is a cosmetic or a mechanical reason for upgrading a toilet, you may not know all the choices that are involved to choose the right one for your home.   The current toilet may have cracks or leaks in the bowl or tank.   It could be the aggravation of constant clogging or inefficient flushing.   Maybe there is damage in the porcelain bowl or built-up mineral deposits that are clogging the inlet holes or syphon tube. If frequent repairs have you on a first name basis with the plumber, it may be time to consider replacing the toilet.   There are a lot of things to consider and the following list may help you sort through the choices. Round, oval or compact oval ... There are two basic shapes of toilets: round and oval.   The round bowl requires less space and are less expensive.   The oval or elongated tend to be more comfortable but require more space from the wall than round ones.    Most manufacturers produce a compact oval model also. One-piece, two-piece a

Interior Condensation Solutions

Condensation occurs when the air has too much moisture in it which is felt as high humidity.   The water deposits on various surfaces that are cooler than the air itself.   Several things can contribute to the high humidity such as cooking, dishwashers, clothes dryers, bathing and long showers.   If the home has a crawl space under the floor, inadequate ventilation or insulation can cause moisture in the home.  There seems to be a difference of opinions about whether to vent or not vent.  First, determine if you are having a problem and then, weigh the options available to find the best solution. Condensation that forms on windows and other surfaces in your home can cause damage to window trim, frames, drywall, floor coverings and sub-floors as well and the interior framing. To reduce condensation in a home, the moisture saturating the air needs to be reduced.   Just as steam from a shower can fog a mirror, warm air holds more moisture.   When the air cools, it releases the moist

Selecting an agent

When a whole lobster was presented at the table of a restaurant, the customer noticed there was only one claw on it.   He asked what happened to the lobster and the waiter said, maybe he lost a fight with another lobster.   The customer replied to the explanation by saying "then, bring me the winner." There are approximately 1.3 million REALTORS® in the U.S.   The July 2019 Existing Home Sales annualized about 5.4 million units with a listing side and a selling side that totals 10.8 million transactions.   That means that the average number of units sold per agent is 8. In any given market, 20% of the agents are selling 80% of the homes.   260,000 agents are selling 8,480,000 or an average of 32 transactions sides.   Some markets are dominated by 10% of these successful agents selling 90% of the market.   If that were the case, 130,000 agents are selling 9,720,000 or an average of 75 transactions sides. The question you should ask yourself is who do you want representin

Price It Right the First Time

The Internet has empowered all buyers with information and home buyers are no exception.     The amount of information available to public includes details on size, condition, sales history, current inventory, recent sales, photographs, videos, school info, drive-times, entertainment and much more. When a seller realizes that buyers are educated with facts, it becomes unlikely that they will pay more than a home is worth.   If a home is priced too high in the beginning, it may stay on the market longer than normal which could adversely affect the ultimate sales price.   It is a natural reaction from people, personally or professionally, to assume that something must be wrong with a home that doesn't sell in a reasonable time for that market. The seller is entitled to maximize the equity in their home and pricing it properly in the beginning is the best way to achieve that.   Overpricing can reduce buyers activity because they assume that the best homes are purchased soon afte