- Virginia Beach, VA
- Irvine, CA
- Madison, WI
Thursday, June 21, 2012
CNN America's best run cities
24/7 Wall Street reviewed local economies, fiscal discipline and standard of living of the 100 largest cities by population to determine the best-run cities.
Tips for planning your summer travel on a budget
Plan that summer vacation without breaking the bank with these travel tips.
- Research. Compare hotel and flight prices, call and ask about any unlisted discounts.
- Be flexible. The most expensive days to fly are Mondays and Fridays. Plan your trip on the off days, and consider connecting flights instead of direct, or early flights.
- Brave the elements. Campgrounds are inexpensive and because you often cook your own food, it doubles your savings.
- Breakfast included. Make sure breakfast is included in the hotel rate.
- Eat in. Cook dinner or have a picnic. When you do eat out, lunch is less expensive than dinner and drink water instead of soft drinks or liquor.
- Use plastic. Avoid ATM fees by selecting cash back when making debit purchases.
- Save at the pump. Utilize phone apps that list gas prices in the area.
- Matinees. Hit up the movies during the day for cheaper admission.
- Museums and parks. Often museums offer free admission.
- Coupons. Scan the Internet for discounts on attractions in and around your destination.
Avoid these common mistakes when buying a home
Home buying can be a frustrating experience, but choosing a competent real estate agent to guide you through the process will likely save you time and money. Here are some tips to avoid costly mistakes.
- Get pre-approved BEFORE you start your home search. Pre-approval will give you a realistic price point when viewing potential homes and puts you in a better position to make a serious offer.
- Research the neighborhood. Learn about crime statistics, schools and amenities within your potential town.
- Look beyond the décor. Focus on the structure itself, square footage and layout. Look beyond the taste of the current homeowner, and remember you are buying the actual house.
- Never skip the inspection. Your home is likely the biggest investment you will ever make, a home inspection is necessary to ensure it is a sound structure or at the very least, make you aware of any defects.
- Give yourself an out. Make sure there are contingencies (such as financing or inspection) in the contract so you can back out of the deal and recoup your deposit.
- Dont buy the most expensive house on the block. The lower home values around your property will negatively affect your property's value.
- Keep resale value in mind. It may be difficult to envision selling a home that you have yet to live in, but remember to consider long-term property value, location and overall mass appeal, when viewing a potential home.
Monday, June 4, 2012
Steps to make your offer more desirable than other bids
Even in a buyer's market, there are often multiple offers on a property. This can be a stressful and frustrating time for perspective buyers, and they should rely on their professional real estate agent to guide them through the process. The sellers evaluate the offers and decide which to accept. Here are some tips to put your offer above the competition.
- Money talks - A cash offer is a serious contender with any property.
- Pre-approved guarantee - Let the sellers know you are qualified by submitting your loan pre-approval letter from the lender. A pre-approval letter from the lender confirms your employment, source of your down payment, and other aspects of your financial circumstances. Although obtaining the approval is more involved than a pre-qualification letter, it carries more weight. A strictly cash offer is a serious contender with any property.
- Don't underestimate the power of a down payment - Increase your down payment, it tells the seller you are a serious buyer. Obviously, the highest offer appeals the most to sellers. If the price is uncharacteristically low to encourage multiple offers, have your agent evaluate the comps in the area to decide on a reasonable offer.
- Play nice - Find out what the sellers want and be flexible. Cater to their desired closing date or waive minimal repairs. Offer to pay closing costs and dont ask for personal items in the home.
- No strings - Remove contingencies. The buyer with an offer that is not contingent upon sale of another property will more attractive to sellers.
Gardening mistakes to avoid
Whether you are a garden novice or a seasoned green thumb expert, avoid common gardening mistakes with these tips.
- Pay attention to your property. Observe what areas receive the most sunlight and if there are areas that are often shaded throughout the day. Is there an area that collects an excess of water?
- Read care instructions on trees, shrubs and plants. Learn and adhere to proper spacing instructions. Remember, spacing may seem excessive at first, but as plants grow and flourish they will increase in size and require adequate space.
- Take pictures of your space and bring them to your local nursery with your notes and observations of sun exposure. The experts may have some advice and ideas for what will thrive and complement your yard.
- Install an irrigation system in your yard or be vigilant about watering plant roots according to necessary specifications. This is especially important in the early stages to ensure the plants take root.
- Landscaping and upkeep can be time consuming and expensive. Choose plant life that will not break your budget, this may entail landscaping your space in stages.
Tips for buying and selling homes at the same time
When you are buying a property while selling a property your real estate agent is more important than ever. A qualified and competent agent should be able to give you an accurate estimation of the price your current property may trade for, which is crucial if the sale of the property is contingent on the purchase of another.
Follow the same basic rules when selling your home: get organized by disposing or donating unused items, stage your property, and pack anything you dont need on a daily basis in preparation for a move. Get a home inspection and make any necessary repairs for your potential buyers and a pre-approval letter to give to sellers of a property you may be interested in. Any proactive and preventative steps you complete will expedite both the home selling and buying process.
When listing your home be realistic with potential offers and ask for a closing date that fits your schedule. Perhaps, if the property you are purchasing is contingent on the sale of your current property, you can ask your buyers for an early closing date. If you have yet to find a property to purchase, you may ask for a later closing date so you wont have to rent in the interim. No matter what your circumstances are, organization, pre-planning, in-depth knowledge of your finances, coupled with a skilled and experienced real estate professional, are vital aspects to the process.
Follow the same basic rules when selling your home: get organized by disposing or donating unused items, stage your property, and pack anything you dont need on a daily basis in preparation for a move. Get a home inspection and make any necessary repairs for your potential buyers and a pre-approval letter to give to sellers of a property you may be interested in. Any proactive and preventative steps you complete will expedite both the home selling and buying process.
When listing your home be realistic with potential offers and ask for a closing date that fits your schedule. Perhaps, if the property you are purchasing is contingent on the sale of your current property, you can ask your buyers for an early closing date. If you have yet to find a property to purchase, you may ask for a later closing date so you wont have to rent in the interim. No matter what your circumstances are, organization, pre-planning, in-depth knowledge of your finances, coupled with a skilled and experienced real estate professional, are vital aspects to the process.
Monday, March 19, 2012
SOME GOOD NEWS AT LAST AS OUR LOCAL ECONOMY, INCLUDING REAL ESTATE, APPEARS TO TURN THE CORNER
Hang on to your hats for this month's column because there is going to be a lot of information to absorb, nearly all of it positive! Many reports have emerged as we began 2012 that would seem to indicate that the economy is, in fact, getting better. Last month we quoted an economist that said the economy would improve, but that it wouldn't "feel like it did." Well guess what? It is noticeable. Jonathan Lansner, who has been particularly pessimistic, in general and specifically to real estate, has written several recent articles that have been...well, encouraging. National job stats say we added 243,000 jobs in January, and unemployment dove to a 2 year low of 8.3%. Orange County, according to Lansner, added 40,000 in December. That's the largest increase in Orange County, "working folks since January 2001 -- yes, 11 years ago." The stock market had its best rally in over 4 years, returning to pre 2008 levels and has seemingly stabilized and is inching slightly upward. What other intrinsic factors have led to everyone "feeling better?" There isn't enough space in this newsletter to deconstruct all the elements of this now slow but steady recovery. However, let's hone in on the real estate side. First of all, interest rates... The fed's decision to keep them low through 2014 was met with a positive rally on Wall Street. Buyers are willing and able to buy. In fact, there are inventory issues, as in, not enough product to go around. A seeming paradox is prices dipping slightly even with increasing demand. Wild stuff. But if a property is properly priced, expect multiple offers if you're a seller, and increased demand if you're a buyer. Obviously there are exceptions to this depending on condition and location of the properties. California added more construction jobs than any other state in the country for the past year. Construction is a very important indicator of recovery for California. Generally speaking, the first sign of recovery is car sales, check mark here, as last year was a banner year, particularly for Detroit. After cars come houses, and new ones are a part of that. There were only 302,000 new homes sold in the US in 2011, according to the Commerce Department. And that was the worst year since 1963. So construction coming back in California... Awesome!
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