What to Expect From Your Home Inspection

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. Realtor.com suggests that you consider the following 5 areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your inspection & if the age or location of your home may warrant specific certifications or specialties.
2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report, the better in most cases.
3. References – do your homework – ask for phone numbers and names of past clients that you can call to ask about their experience.
4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Membership in one of these organizations often means that there is continued training and education provided.
5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.

Ask your inspector if it’s ok for you to tag along during the inspection, that way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof, crawling around in the attic, and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace & chimney, the foundation and so much more!

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money in a home of your own. Work with a professional you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

Source: Keeping Current Matters | The KCM Crew 012916

Have You Saved Enough for Closing Costs?

There are many potential homebuyers, and even sellers, who believe that they need at least a 20% down payment in order to buy a home or move on to their next home. Time after time, we have dispelled this myth by showing that many loan programs allow you to put down as little as 3% (or 0% with a VA loan).

If you have saved up your down payment and are ready to start your home search, one other piece of the puzzle is to make sure that you have saved enough for your closing costs.

Freddie Mac defines closing costs as:

“Closing costs, also called settlement fees, will need to be paid when you obtain a mortgage. These are fees charged by people representing your purchase, including your lender, real estate agent, and other third parties involved in the transaction. Closing costs are typically between 2 and 5% of your purchase price.”

We’ve recently heard from many first-time homebuyers that they wished that someone had let them know that closing costs could be so high. If you think about it, with a low down payment program, your closing costs could equal the amount that you saved for your down payment.

Here is a list of just some of the fees/costs that may be included in your closing costs, depending on where the home you wish to purchase is located:

• Government recording costs
• Appraisal fees
• Credit report fees
• Lender origination fees
• Title services (insurance, search fees)
• Tax service fees
• Survey fees
• Attorney fees
• Underwriting fees

Is there any way to avoid paying closing costs?

Work with your lender and real estate agent to see if there are any ways to decrease or defer your closing costs. There are no-closing mortgages available, but they end up costing you more in the end with a higher interest rate, or by wrapping the closing costs into the total cost of the mortgage (meaning you’ll end up paying interest on your closing costs).

Home buyers can also negotiate with the seller over who pays these fees. Sometimes the seller will agree to assume the buyer’s closing fees to get the deal finalized, which is known in the industry as ‘seller’s concession.’

Bottom Line

Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to.

Source: Keeping Current Matters / The KCM Crew 012717

Thinking of Selling? Why Now is the Time

It is common knowledge that a large number of homes sell during the spring-buying season. For that reason, many homeowners hold off on putting their homes on the market until then. The question is whether or not that will be a good strategy this year.

The other listings that do come out in the spring will represent increased competition to any seller. Do a greater number of homes actually come to the market in the spring, as compared to the rest of the year? The National Association of Realtors (NAR) recently revealed the months in which most people listed their homes for sale in 2016. Here is a graphic showing the results:

The three months in the second quarter of the year (represented in red) are consistently the most popular months for sellers to list their homes on the market. Last year, the number of homes available for sale in January was 1,820,000.

That number spiked to 2,140,000 by May!

What does this mean to you?

With the national job situation improving, and mortgage interest rates projected to rise later in the year, buyers are not waiting until the spring; they are out looking for a home right now. If you are looking to sell this year, waiting until the spring to list your home means you will have the greatest competition for a buyer.

Bottom Line

It may make sense to beat the rush of housing inventory that will enter the market in the spring and list your home today.

Agents: To discover proven ways to build an inventory of salable listings right now, join us today at 2PM EST for our free webinar, How to Become a Rainmaker for LISTING LEADS. There are a limited number of seats available, so make sure to save your spot!

Source: Keeping Current Matters / The KCM Crew 012617

Tips for Preparing Your House for Sale

Highlights:

• When listing your house for sale your top goal will be to get the home sold for the best price possible!
• There are many small projects that you can do to ensure this happens!
• Your real estate agent will have a list of specific suggestions for getting your house ready for market and is a great resource for finding local contractors who can help!

Source: Keeping Current Matters | KCM Crew | 012017

20 BEAUTIFUL HOMES HIDING IN AMERICA'S MOST AFFORDABLE CITIES

1.  

FROM PITTSBURGH TO KANSAS CITY, THE MOST ECONOMICAL CITIES IN AMERICA ARE ALSO HOME

TO SOME OF THE MOST EXTRAVAGANT ABODES STANDING TODAY. FOR PROOF, TAKE A GRAND TOUR

OF THESE OPULENT HOMES IN AMERICA’S LEAST EXPENSIVE ZIP CODES.

By MANASA REDDIGARI

HIDE LIST

1.   

   FAYETTEVILLE, ARKANSAS

   

   Nestled in the Ozarks, this stately colonial-style house provides a perfect example of the refined splendor found in budget-friendly Fayetteville. Situated on a five-acre lot, the gated home and separate mother-in-law apartment provide the ultimate in privacy and luxury. With five bedrooms, five baths, a vaulted ceiling, a sweeping staircase, and an equestrian facility next door, the home is sure to transport visitors to a more elegant time.

   
   

   Related: The 22 Weirdest Town Names Ever Put on the Map

   Photo: Zillow Home in Fayetteville, AR
2.   

   DES MOINES, IOWA

   

   Iowa's capital city is brimming with scenic wonders, from Gray’s Lake Park to the Principal Riverwalk on the Des Moines River. Just as wonderful are the city's eclectic neighborhoods, filled with homes that are rich in character yet relatively low in price. A case in point: this towering two-story home that, behind its buttoned-down exterior, offers a warm, light ambience, even on snowy winter days, thanks to wall-to-wall windows, vibrant window dressings, and the cherry wood furniture in the dining room.

   Photo: Zillow Home in Des Moines, IA
3.   

   BATON ROUGE, LOUISIANA

   

   The quiet neighbor of New Orleans, Baton Rouge is rife with historic neighborhoods where you'll find both low-cost and lavish modern homes. The stunning features of this regal residence, including antique reclaimed pine beams and Lagos Azul Limestone countertops in the kitchen, make it the must-have million-dollar property it is today.

   
   

   Related: 18 American Towns Every Old-House Lover Needs to See

   Photo: Zillow Home in Baton Rouge, LA
4.   

   LITTLE ROCK, ARKANSAS

   

   The French dubbed this city on the Arkansas River "La Petite Roche," or "Little Rock," but today the state capital is anything but small. Visitors to this sprawling metropolis will find both moderately priced neighborhoods and districts replete with grand homes. Homeowners seeking to trade their cramped quarters for more spacious digs will flip over this 7,307-square-foot estate in Edgehill. Built in 1829, the palatial property offers three bedrooms as well as four full and two half baths with charming Georgian-era accents.

   Photo: Zillow Home in Little Rock, AR
5.   

   INDIANAPOLIS, INDIANA

   

   Modern-day Hoosiers can travel back to simpler times when they step inside this European-style estate. The five-bedroom property located in Washington Township boasts antique-look charm in its seven ornate bathrooms, while a covered veranda, wet bar, and home theater make the property ideal for sophisticated entertaining.

   
   

   Related: 15 100-Year-Old Houses That Haven't Aged a Day

   Photo: Zillow Home in Indianapolis, IN
6.   

   LOUISVILLE, KENTUCKY

   

   Wining and dining your guests is easy when you take up lodging in this luxury property in the ultra-economical Derby City. The open floor plan of the nearly 10,000-square-foot estate is full of thoughtful details like custom millwork, sleek hardwood floors, marble countertops, and a temperature-controlled wine cellar. The result is a rustic retreat fit for any occasion, from an everyday family dinner to a lavish cocktail party.

   Photo: Zillow Home in Louisville, KY
7.   

   WICHITA, KANSAS

   

   The turn of the 20th century ushered in a modern age of technological advancement in the city dubbed Cowtown, but through it all, Wichita retained its hospitality. Like the city itself, this sprawling property in Lakepoint is modern yet intimate. Although the brick exterior and three-car garage may look imposing from the street, on the inside you'll find a rustic interior that rolls out a warm welcome.

   
   

   Related: 16 Iconic American Homes Torn Down Before Their Time

   Photo: Zillow Home in Wichita, KS
8.   

   GRAND RAPIDS, MICHIGAN

   

   Grand Rapids earned the nickname "Furniture City" from its history as a manufacturing hub for home furnishings. That craftsman lineage can be seen in the hand-carved woodwork throughout this seven-bedroom, five-and-a-half-bath home. Built by local businessman and socialite Louis A. Cornelius in 1929, the home was once a destination for lavish parties. Today, the sprawling residence, with its basketball and tennis courts, pool and hot tub, and picturesque garden, pond, and greenhouse, is a multipurpose space that appeals to folks of many backgrounds and interests.

   Photo: Zillow Home in Grand Rapids, MI
9.   

   TULSA, OKLAHOMA

   

   After Tulsa struck it rich as an oil town, a construction boom ensued, turning the once sleepy southern city into a hot market for home buyers. Among the properties born of Tulsa's prosperity was this elegant 9,875-square-foot estate. Built in 1939, the staggering residence features architectural accents characteristic of the French Renaissance Revival style, from the balustrade on the granite exterior to the carved overmantel of the living room fireplace.

   
   

   Related: Would You Recognize These 9 Iconic Streets Way Back When?

   Photo: Zillow Home in Tulsa, OK
10.   

    OKLAHOMA CITY, OKLAHOMA

    

    Multihued hardwood floors lend a handsome finish to this home in laid-back Oklahoma City. Inside, you'll find an executive office, workshop, and three-car garage, all surrounded by 11 acres of gardens and two pristine ponds. Beyond the grounds of the 2,200-square-foot estate, OKC and nearby Edmond draw tourists and long-time residents alike with affordable attractions like the National Cowboy & Western Heritage Museum.

    Photo: Zillow Home in Oklahoma City, OK
11.   

    PITTSBURGH, PENNSYLVANIA

    

    Corner lots are among the most coveted by buyers, which means that home shoppers should be exceptionally interested in this immaculately maintained property that plays host to a 4,644-square-foot residence in the Steel City. Inside this five-bedroom home, modern amenities like state-of-the-art appliances mix with classic features like pocket doors and richly detailed molding.

    
    

    Related: 14 Surprising Small Towns the Stars Call Home

    Photo: Zillow Home in Pittsburgh, PA
12.   

    COLUMBIA, SOUTH CAROLINA

    

    This four-bedroom beauty in the capital of South Carolina takes the concept of an open floor plan to a whole new level. The best-kept secret of this household is a built-in bookshelf that gives way to a full bathroom and closet; likewise, the master suite grants passage to a hidden laundry room. Upstairs, space is put to no less ingenious use: A multipurpose room does triple duty as a den, playroom, and media room poised to amuse entertainment seekers for hours on end.

    Photo: Zillow Home in Columbia, SC 
13.   

    MINNEAPOLIS, MINNESOTA

    

    The antique woodwork, wainscoting, and stained-glass windows of this architectural marvel in Minneapolis are all hallmarks of the 1930s, the era of its construction. But coupled with these old-world accents is a host of upgraded amenities for the modern homeowner. When you're not soaking away your cares in the marble spa, you can catch your favorite flick in the on-site movie theater. No matter where you want to travel within the 8,460-square-foot abode, the built-in elevator can help you get there at a moment's notice.

    
    

    Related: Better Your Builder-Grade Home with 12 Old House Details

    Photo: Zillow Home in Minneapolis, MN
14.   

    GREENVILLE, SOUTH CAROLINA

    

    There's no shortage of natural light in this welcoming Greenville home thanks to the grand windows cut into the home's numerous doors, which illuminate the interior while bringing backyard beauty indoors. Inside the 5,761-square-foot residence, space seems nearly limitless—an effect heightened by architectural elements like arched entryways and a floor-to-ceiling fireplace decorated with a larger-than-life gilded mirror.

    Photo: Zillow Home in Greenville, SC
15.   

    OMAHA, NEBRASKA

    

    Built up from a pioneer town into the headquarters of four Fortune 500 companies, Omaha is full of surprises, this rare piece of real estate being one of them. The main floor incorporates an indoor solarium with a waterfall and pond, while a separate wing caters to DIYers and sports enthusiasts with a craft room, indoor basketball court, and exercise room. When you've finished working out, take a dip in the infinity hot tub or in-ground pool in the backyard, then go to the movies without ever leaving home by heading to the theater at the lower level, complete with a ticket booth!

    Photo: Zillow Home in Omaha, NE
16.   

    CINCINNATI, OHIO

    

    In the early 20th century, Tudor-style homes like this property dotted entire street lengths of Cincinnati. A lingering reminder of that distant era, this extravagant 1921 estate is an example of what loving maintenance can do to preserve architectural integrity. The rugged stone facade and slate roof remain untouched by time, while the unmarred wooden floors and ornate fireplace surround in the 22-room interior appeal as much to modern homeowners as to residents of centuries ago.

    
    

    Related: What 11 Ordinary People Paid to Live in Your Favorite Movie Homes

    Photo: Zillow Home in Cincinnati, OH
17.   

    ST. LOUIS, MISSOURI

    

    The owners of this custom-built residence in St. Louis made the grand ask that their house last a lifetime. Rising to the challenge, the architects opted for the timeless Foursquare style, with four grand rooms situated on each of the three 2,200-square-foot floors of the residence. But while the exterior adheres to classic Foursquare elements, the interior playfully strays from tradition by incorporating ceiling-high archways, millwork, and period-specific hardware that turn the abode into a truly memorable place to call home.

    Photo: Alise O'Brien Photography via Mitchell Wall Architecture and Design
18.   

    COLORADO SPRINGS, CO

    

    Set at the foot of the mountains of Colorado Springs, this Southwest-style home receives its fair share of sun and wind. Weather is no match for this house, though, as residents keep cool and comfortable inside the adobe-clad living room under a hipped roof that features a combination of flat and Spanish tiles. Outside the pueblo look-alike, the convenient no-mow lawn features a small patch of green that's ideal for golfing on fair-weather days.

    Photo: Solid Rock Custom Homes, LLC
19.   

    KANSAS CITY, MISSOURI

    

    To combat clutter in the main house, the owners of this 1930s-era stucco-and-wood property in Kansas City's Brookside neighborhood built out their backyard with a series of modern pavilions, including a garage and shed, which double as playhouses and stages for kids' theatricals. The storage-smart backyard freed up room in the connected kitchen to entertain guests in a bright and airy space accented with white mosaic tiles and a domed pendant light.

    Photo: DRAW architecture + urban design
20.   

    CHARLOTTE, NORTH CAROLINA

    

    Charlotte boasts a whopping 199 neighborhoods filled with stately homes, though this property sets itself apart in scale and style. On the sprawling exterior, a lone balcony and a series of archways illuminated by soft lights pique the curiosity of passersby. The interior is no less alluring. In the living room, a vaulted ceiling lends a sense of drama that complements the regal chandelier, luxe cushions, and billowing curtains.

    Photo: Carolina Design Associates, LLC
    
    
21. Source: Realtytimes.com / Joseph M. Hayes 011917