Adding Buyer Appeal to Your Home: Luxury Bathrooms
January 20th, 2010 by adminIf you are a home owner who’s looking to add a little bit of pizzazz to your home before putting it on the market then you might want to look no further than your home’s bathroom. Many home owners spend some time either renovating or “freshening” their home with paint in neutral colors to add to their home’s appeal and help it sell easier. Since a luxury, or spa-style, bathroom can be a huge draw to prospective buyers it is a good choice if you’re looking to invest some money on making your house.
Take a look at how much money that you are willing to invest in renovating your bathroom before you choose what your project is going to entail. Look at your bathroom with a critical eye; is there anything that desperately needs to be fixed or updated?
A good rule of thumb is to replace or cover over anything that is really outdated or damaged; ugly vinyl flooring, damaged or outdated countertops, chipped sinks, or fixtures from the 70s will all qualify as elements that should be remedied. Some of these items will be much more expensive to replace than others, so plan for the most expensive upgrades first and then plan out the rest of your project.
Next, decide which less expensive options that you can use to fill out the luxuriousness of the room and give it that great spa-feeling that home buyers will want for themselves. Install a stylish light fixture and a dimmer switch in the room so that you can adjust the lighting according to your mood. Ideally, you should have more than one type of fixture in the room so that you can have it bright if you need it or dim if you’re looking to relax.
Another relatively inexpensive item that you might want to install in your bathroom is a heated towel bar for warming your towels; they can be freestanding or wall mounted and adds a really nice luxury touch to your bathroom. Towel warmers can also help keep your bathroom a little warmer which can help with moisture problems.
To add to the spa-like atmosphere in your bathroom, paint it a neutral, complimentary color to the fixtures that are already in the room. Add some lush, thick bath towels and mats to the room to make it feel welcoming. You may even want to hang a few thick plush robes on the back of the bathroom door like they do in a high-end hotel to invite prospective buyers to feel like your home is a vacation destination.
Remember that residents spend a good portion of each day in the bathroom, both in the morning and in the evening. For many people it is THE place in the room where they like to relax; help them feel relaxed by renovating it into the perfect atmosphere.
You Need To Know Your Rights As A Home Buyer
October 31st, 2009 by adminSadly, dishonest activity exists in the marketplace. The good news is that the federal government has passed laws that protect home buyers from the negative affects of these unscrupulous activities. As a home buyer, there are certain rights granted to you as you search and apply for a mortgage loan for your home. Being aware of the rights helps protect you.
Borrowers Rights
As a borrower, and a home buyer, there are several rights granted to you by both the Consumer Credit Protection Act and the Fair Credit Billing Act. Both of these are legislation passed by the United States Congress.
You have the right as a home buyer:
- To shop for around for the best loan among different mortgage lenders and brokers.
- To be informed of your loans total costs. This includes interest rates, points, and other fees assessed by a lender or broker.
- To be informed of any fees that will not be refunded to you in the event that you cancel the loan agreement.
- To know the reason for denial if your loan is turned down.
- To receive a free copy of the credit report that was used in denial of your loan. The lender should give you information about obtaining this credit report.
- To have income from child support, alimony, and pension considered in qualification for a loan.
- To ask questions about anything you do not understand about loan charges and terms.
- To know what you and the lender are paying the mortgage broker for a loan.
- To be considered for a loan regardless of age (unless under the legal age to sign a contract), gender, marital status, race, color, religion, and national origin.
- To receive an appraisal report for the home.
RESPA
The Real Estate Settlement Procedures Acts, administered by the Department of Housing and Urban Development, prevents mortgage lenders and brokers from charging certain types of fees.
Lenders are required, by the RESPA to disclose certain information to you pertaining to your application for a mortgage. You, as a home buyer, must receive a Good Faith Estimate from the lender or mortgage broker. The Good Faith Estimate, or GFE, details an estimate of fees that you will be charged for your mortgage. The lender must also provide you with a Mortgage Servicing Disclosure Statement if the loan is to be serviced by or transferred to another lender.
Finally, the Special Information Booklet, containing information about real estate settlement services, must be given to you as a home buyer. These documents should be given to you within three days after your application has been received. In the event that your application is denied within three days, the lender does not have to provide with the documents.
These laws have been put into place to protect you, as a home buyer, from scams, discrimination, excessive fees, and other malicious business practices. Educating yourself to the rights you have as a home buyer brings you one step closer to obtaining a home loan. Present yourself to mortgage lenders and brokers as a home buyer that is aware of the rights provided by the law.
First Time Home Buyer? Hip, Hip Hooray for Thda!
October 10th, 2009 by admin“In order to promote the production of more affordable new housing units for very low, low and moderate income individuals and families in the state, to promote the preservation and rehabilitation of existing housing units for such persons, and to bring greater stability to the residential construction industry and related industries so as to assure a steady flow of production of new housing units?”
Many times, people have heard of THDA and are confused, thinking that THDA is a certain loan type. In fact, it?s lending agency. All THDA mortgages must be insured by private mortgage insurance, FHA, VA or RECD And as these loans are intended for low to moderate income families or individuals, there is a income limit and acquisition cost limit. Also, you must be a first time homebuyer unless your home is in a targeted area.
Why is THDA so fantastic for a first time homebuyer? Well, it comes down to money. THDA offers a below market rate and will allow up to 100% financing. Have you been reading the papers lately? It?s not so easy to find 100% financing these days. Unless, that is, you?re a first time homebuyer. It also has programs that allow for down payment assistance via grants from certain approved agencies (if your loan type requires a down payment). If you have satisfactory credit and the home you wish to buy meets THDA?s standards, then you?re in business.
All THDA mortgages are 30 year fixed rate loans, so you needn?t worry about finding yourself with an ARM loan (adjustable rate mortgage) and a new payment you can?t afford in 3 years. And THDA allows lenders to only charge customers a standard 1% origination and .25% discount fee. It also closely monitors fees associated with the loan. THDA really looks out for the best interest of the first time homebuyer. If you are eligible for a THDA loan, you can feel pretty certain that an unscrupulous lender can?t take advantage of you because THDA won?t let them. For so many people, buying a home is pretty intimidating. THDA takes away the uncertainties a buyer faces with its guidelines and lending practices.
If you do apply for a THDA loan, be prepared to document your credit worthiness. THDA loans require slightly more documentation than your average loans because of the uniqueness of its product. In order to offer more, THDA asks for more ? ensuring you qualify for its pretty awesome program. Sounds like a fair trade, if you ask me.
What are the disadvantages of a THDA loan? Not many. They do have a federal recapture tax if you sell your home within the first nine years of owning it. But it sounds scarier than it really is. I?ve heard that only about 1% of THDA customers actually pay this tax. That?s because a bunch of really great things have to happen to you in order for it to actually apply to you. And if those great things happen to you, paying the recapture tax won?t matter much to you anyway. I?ve been in the business for 16 years and have only heard of one person actually having to pay one. He graduated from medical school and his income when through the roof. His property was sold above market value than for the area because it was adjacent to some property that a huge retailer wanted to purchase. Again, good things have to happen to pay the recapture tax. So, you shouldn?t be afraid of it.
More people need to hear about and take advantage of the THDA loan programs. It?s such a great product and really helps the community and the housing industry. If you?re a first time homebuyer or think you?re in a targeted area, make sure you ask about THDA to see if you would qualify for a loan. You won?t regret it!
Should I Sell my Home to a Professional Home Buyer? -We Buy Houses Fast in Charleston South Carolina
October 4th, 2009 by adminDue to the current down market, more and more people are looking for alternate, non-traditional ways to sell their home. The days of sticking a FSBO (For Sale By Owner) sign in the yard or simply listing it with the realtor that your friend at work used, just isn’t having much effect these days. Depending on your selling situation, selling your home to a professional home buyer can be the right selling decision. As with other home selling options, selling your home to a real estate investor has benefits.
Working with an experienced investor can really simplify and expedite the process. Some of the great benefits of selling your house to a professional property buyer are: you are able to sell your house fast, “as is” on the date or your choice, you do not have to pay large real estate commissions to a Realtor, you do not have to spend your time, energy and money updating and making repairs and you only have to have one showing. There are many other benefits that an honest, experienced and well trained Charleston real estate investor can provide, such as knowing exactly how to handle problem properties or situations where Low Country folks are taking the brunt of the current economy on the chin and are facing many of the more and more common financial problems like foreclosure that need short sales in order to sell their over leveraged home and avoid foreclosure.
I would recommend selling your house to a local real estate investor if you are in any of the following selling situations:
I am behind on monthly mortgage payments I need to sell my home fast I am moving out of state or out of my local area and can’t afford two mortgage payments I have been transferred by my job I am going through a Divorce and need to sell my house My home is 100% financed and I do not have enough equity to list my home with a Realtor I need to Stop Foreclosure and avoid ruining my credit I am currently in Bankruptcy Someone in our family has health problems and can not work, therefore we can not pay our bills I am tired of being a Landlord and do not want to deal with tenants anymore My home needs lots of repairs and I do not have the time or money to fix it up My home is in pre-forclosure I want to cash out of my investment property My home has been on the market with a realtor for many months and my listing agreement is now expired, I want to sell my house fast, now We recently inherited a property and want to sell it quickly and want someone familiar with an estate sale and the probate process I own my house free and clear and am willing to wait for the market to turn around but would consider taking payments for my equity if I can get my asking price now
As you can see there are many reasons why you should consider selling your home to a local home buyer, and these are not all of them. Simply put, listing your home with a Realtor or trying to sell your home FSBO cost you money and time, it also does not get you offers within just a few hours/days. If you do not have time, do not have money, or simply do not want to deal with the hassles of selling your home, then sell it to a real estate investor. You may be happily surprised by the offer you get.
Before calling some random number on the side of the road off one of those “We Buy Houses” signs, it is important to make sure you know who you are dealing with. Unfortunately, there are a few unethical investors, like in any business, and currently the real estate market is a prime target. Thanks to the Internet it is relatively easy to locate information about a legItimate business. South Carolina business owners are required to register with the South Carolina Secretary of State and you can see if they the business you are calling has bypassed even that basic requirement. The Attorney General’s office handles consumer complaints, as does the Better Business Bureau. Realtors and brokers are licensed through the Real Estate Commission. These agencies can help to ensure you are working with a licensed, legitimate, complaint-free business or real estate investor.
Charleston Home Buyers, LLC is an Accredited Member of the Better Business Bureau, a registered LLC with the South Carolina Secretary of State, and an active member of the Charleston Real Estate Investors Association. “We pride ourselves on our integrity and conduct business under strict ethical principles. We say what we mean and do what we say!” Many references and testimonials are available upon request and some of which are posted on our website. We buy houses in Charleston, Dorchester and Berkeley County and work with a group of nationwide investors. We currently are looking to buy more real estate in Summerville, Goose Creek, North Charleston, Ladson, Hanahan, West Ashley, James Island, Johns Island, Mt. Pleasant, Downtown and all other area in the tri-county area.
If you need to sell your house quick, submit your property information via the “Sell My House” form at our website today for a Free, Confidential, No-obligation offer or call our toll free 24 hour recorded message at 888-52-BUYER (888-522-8937) for more information about selling your home to a professional house buyer. You can also always call us direct 843-72-BUYER (843-722-8937), however it is usually better to take 5 minutes to fill out our property information form first so that we can save you time by having the information already and do some research so that we can get an offer to you right away.
Here’s what some of our sellers have had to say:
“I had been trying unsuccessfully to sell my house for 9 months with a realtor…tired of having the house perfect… we closed the following week” Frank P. – North Charleston
“In less than a week
