Real Estate Information Archive

Does your home inspire wellness?

When you think of wellness, does your living space come to mind? Today, people are taking wellness beyond diet and exercise and into their homes. So, if you want to improve your quality of life, you might be interested in wellness-focused interior design.

This style of design uses natural elements to boost your mood, increase your productivity and influence your mental well-being.

Here are four ways you can bring this trend into your home:

1. Let in the light. The sun’s light can elevate your mood and promote alertness. Take advantage of daylight by arranging workspaces near windows, using light-filtering curtains or strategically hanging mirrors to reflect more light. Natural light can recenter your sleep cycle and promote vitamin D production — two keys to maintaining a healthy lifestyle.

2. Promote air circulation. Proper air circulation provides a regular temperature, removes impurities and that “stale” feeling, and prevents mold. For better air quality, use ceiling fans, open the windows and install attic vents. The more space there is in a room, the more air can circulate.

3. Add more plants. Being close to nature can improve your overall well-being. Plants add color to your home, purify the air and may even reduce stress. Bring the outside in by adding plants to every room in your home, especially the spaces where you spend the most time.

4. Design a calming space. Create a private sanctuary that’s free of distractions, like clutter and electronic devices. Dedicate time to this space so you can calm your mind, gain a fresh perspective and reflect on your day.

Interested in boosting your home’s wellness factor? Or thinking about looking for another home to call your own? Get in touch today. 

When you’re buying or selling a home, the finances, the inspections, and all the other nitty gritty details are important. But at the end of the day, you’re a buying a home from — or selling a home to — another human being. Making a kind gesture can go a long way in terms of enticing a seller to choose you or incentivizing a buyer to select your property. In the spirit of Valentine’s Day, here are some ways to show buyers or sellers some love. 

If you’re trying to buy a home — especially in a competitive real estate market, and especially if you’re making an offer under asking price — you could provide the seller with an offer letter that waives a few contingencies. For example, waiving your inspection contingency or at least shortening it will tell the seller that you’re serious and willing to take this risk. Your offer will stand out as one that can get done quickly and hassle-free. I’d be happy to guide you through this process.

If you don’t need some of your furniture or window coverings in your new home, why not offer to include some of them in the sale? Filling up a new home with furniture is costly, and if your potential buyers have a lot of it to buy, they may be incentivized if they know they’ll save money on furniture and decor. If it’s furniture you were planning to get rid of anyway, it also takes away the potential headache of having to figure out what to do with it. 

For new homebuyers, the down payment and closing costs can be overwhelming, and that’s before you factor in recurring costs of homeownership. If you live in a neighborhood or building that charges HOA fees, one way to incentivize buyers is to extend a credit on HOA dues. You can do it for the time of your choosing, such as six months or one year, which takes some financial pressure off the buyer. Just have your realtor check that there aren’t any issues with your buyer’s lender since some have guidelines around seller credits.

Colors have the ability to evoke emotions and change our attitudes. They can inspire and motivate us to try something new and bold. They can alter our moods and appetites, or even make a room feel small and cramped. 

If you plan to redecorate a few rooms in the new year, the right color choices can make all the difference in the feeling you’re trying to achieve. Better yet, it’s one of the simplest and most affordable decor changes you can make. Not sure which colors to choose? Here are 2019’s best color palettes for home interiors, according to the Pantone Color Institute:

Meanderings
This palette is a mix of leisurely, rich shades like Island Green, Aurora Red and Wild Orchid. Pulled from diverse cultures, they tell the story of world travel and are great for spaces where you’ll be entertaining guests. 

Proximity
Proximity shows the connection between technology and nature and speaks to the challenges of modern life. These vivid blue-greens, green-blues and silver-grays are perfect for rooms with abundant natural light. 

Cravings
These culinary-inspired hues call to mind delicious tastes and exotic cuisines with colors like Cappuccino, Chili Pepper and Cayenne. This sensory experience is ideal for dining rooms or quiet spaces like reading nooks.

Cherish 
These soothing pastels evoke calm and serenity and are the epitome of comfort. The soft, nostalgic floral tones would be great in a powder room or master bedroom. 

Are you planning a new look for your home? Think of these palettes as a focused road map for capturing your desired style. 

If you’d like some guidance for a more substantial home renovation, or you’re interested in finding a new home this year, please reach out today.

Buying a home is a big undertaking. From finding the right property and negotiating to sorting out the legal details and moving in, there are dozens of important steps along the way. And for many first-time buyers, it can seem overwhelming. 

Fortunately, there are a few things you can do to make the process easier, even if you’re still in the planning phase. If you know buying a home is on the horizon, you’ll want to tackle these tasks before you get too far into your search:

1. Get preapproved for your mortgage. 
Research lenders, choose your mortgage company and apply for preapproval. This will give you an idea of what you can afford so we can point you toward homes in the right price range. 

2. Give your budget a test run. 
Once you have a rough estimate of what your monthly payment will be, give that budget a trial run. Are you still able to afford all your monthly bills and expenses? If not, let’s have a chat with your lender to see what the monthly payment could look like if we target a lower price point.  

3. Start saving. 
It’s never too early to start saving up for your down payment and closing costs. Cutting out unnecessary spending and setting up automatic deductions from your paychecks are two easy ways to give your savings a boost.

4. Create a wish list. 
What do you want in your future home? Jot down your must-haves concerning size, location and features. You can also include some deal breakers to help guide you in your search.

Are you looking to buy your first home soon? With the right help, the process will be less overwhelming. Reach out today for step-by-step guidance or a referral to a trusted lender in our area.

Roll the Repairs into the Mortgage

It's been said that if you can find a home that has most of what you want, you should go ahead and purchase it.  Many first-time buyers are using everything they have for a down payment and closing costs and would have to "live" with the less than perfect home until they can save the money to make the changes.

The FHA 203(k) mortgage allows a borrower to purchase a home and provides additional funds for improvements to be made.  These types of renovations can include kitchen and bathroom remodels, flooring, plumbing, heating and air conditioning systems, additions and other things.

The benefit to the buyer is that they have the opportunity to consider a home that needs repairs and might have been unacceptable without a program like this.  Being a FHA loan, a minimal down payment is required, fair interest rates and generous qualifying requirements.

The 203(k) Streamline can be used for cosmetic improvements, appliances and minor remodeling up to $35,000 in cost.

As you can imagine, this is a specialized program and not all lenders choose to make 203(k) loans.  They usually take longer to process and getting firm bids on the work to be done will be required.  It is important to find out how much experience a lender has with this particular type of loan.    

It will also be required that you work with a 203(k) consultant in addition to the mortgage officer.

For more information, go to Hud.gov.  FNMA has a similar conventional loan program called HomeStyle Mortgage.  Your real estate professional will be able to help with recommendations.  Call me at (907) 261-7632.

Finding the right home is still the biggest challenge buyers are faced with in today's market as is shown in the latest Confidence Index Survey.  Assuming the buyers find the "right" home with determination, perseverance and the help of a real estate professional, 88% of all transactions last year required financing to get the buyer's address on the home.  93% of first-time buyers needed financing.

Pre-approval is an essential step that needs to be handled before buyers begin searching for a home.  The benefits to the buyer fall into the category of confidence.

PRE-APPROVAL GIVES YOU CONFIDENCE

• Knowing the amount you can borrow  
  the mortgage amount decreases as interest rates rise
• Looking at the right priced homes
  price, size, amenities, location
• Comparing and identifying the best loan
  rate, term, type
• Uncover issues early that could affect the most favorable loan terms
  time to cure possible problems
• Bargaining power to negotiate with the seller and possibly, competing buyers
  price, terms, & timing
• Settlement can occur sooner after contact is accepted
  verifications have already been made
  

Items Needed for Pre-Approval

• Photo ID
• Two months current pay stubs
• Last two year's W2s
• Complete copies of checking and savings statements for last three months
• Copies of statements for IRAs, 401k, savings, CDs, money market funds, etc.
• Employment history for last two years with addresses and contacts
• Proof of commissioned or bonus income
• Residency history for last two years with addresses and contacts
• Assets for down payment, closing costs, and reserves; must provide paper trail
• If self-employed, last two years tax returns, current profit and loss statement and balance sheet; copy of partnership/corporate tax returns for last two years if owning more than 25% of company
• FHA requires driver's license and social security card
• VA requires original certificate of eligibility and DD214
• Other things may be required such as previous bankruptcy, divorce decree

Did you know you can buy your dream home while paying off student loan debt? 

It’s true and even quite common. While student loans are factored into your debt-to-income ratio, they shouldn’t prevent you from becoming a homeowner. 

And fortunately, there are many programs and options available to prospective buyers, some you may not be familiar with. Here are four ways people with student loans achieve their homeownership goals: 

1. Co-buying With Friends or Family
Purchasing a home with a roommate, significant other or sibling allows you to combine multiple incomes to qualify for a better mortgage rate. This can help lower your monthly payment and make home maintenance more affordable.

2. Receiving Financial Gifts From Family 
You can also accept gift money from your parents, grandparents or other family members to put toward your home purchase. Some loan programs have a cap on how much gift money can be used, so make sure you know the limits first. 

3. Choosing Low (or No) Down Payment Loans 
There are many low down payment options, including FHA, HomeReady and Home Possible loans. For loans with no down payment, VA loans may be available to veterans and military members as well as USDA loans for those purchasing in rural areas. 

4. Using Assistance Programs 
Down payment assistance programs can cover some or all of your down payment costs if you qualify. These programs vary by location, so talk with a lender to learn about potential options. 

Working on your credit can also help you buy a home. Pay your credit card bills on time every month, aim to pay down your debts and never let an account go into collections. It also helps to get preapproved for a mortgage so you know how much you qualify for. 

If you’re ready to make homeownership a reality or would like a referral to a trusted lender, get in touch today.