Blog :: 03-2011

Are you creative enough?

Are you the creative type?  New home owners often have a need for creativity; to paint, decorate and landscape.  However, becoming a home owner can require a new form of creativity; creative financing.

Today's lenders are tightening their belts, securing a mortgage can be tricky for many buyers.  Many options and programs are available, including federally funded programs such as the Federal Housing Administration (FHA); however these programs have limitations and minimum requirements and not every buyer is eligible.  Financing a home in today's market can require more "out-of-the-box" thinking.   A broker in Tallahassee, Fla is quoted with saying "Creative financing is about to become the primary means of financing,"

  • Mortgage brokers and Realtors are working with customers nationally to create new sources of home financing.  Some ideas that have paid off are:
  • Private Loans - Loans not advertised as mortgages are available but generally require a strong professional network and may be subject to higher interest rates.
  • Lease-to-own Sales - Essentially, pushing the closing date back for months to years, but allowing for possession to exchange hands.
  • Asset Liquidation - Many potential home owners have taken to selling or pawning valuable assets to generate enough capital to secure a loan.  Recently in Colorado, a 1955 Picasso sketch was 'pawned' to finance a down payment.

As the saying goes, where there's a will, there's a way, and today's real estate market exemplifies that.  The bottom line is, consumers will find a way to get what they want.  If lenders make it hard to find a mortgage, consumers and Realtors will find other avenues of financing.  To read more on the subject CLICK HERE for the complete article, or CLICK HERE to contact a Signature Properties of Vermont Realtor.

Are you the creative type? New home owners often have a need for creativity; to paint, decorate and landscape. However, becoming a home owner can require a new form of creativity; creative financing.

Today's lenders are tightening their belts, securing a mortgage can be tricky for many buyers. Many options and programs are available, including federally funded programs such as the Federal Housing Administration (FHA); however these programs have limitations and minimum requirements and not every buyer is eligible. Financing a home in today's market can require more "out-of-the-box" thinking. A broker in Tallahassee, Fla is quoted with saying "Creative financing is about to become the primary means of financing,"

Mortgage brokers and realtors are working with customers nationally to create new sources of home financing. Some ideas that have paid off are:

Private Loans - Loans not advertised as mortgages are available but generally require a strong professional network and may be subject to higher interest rates.

Lease-to-own Sales - Essentially, pushing the closing date back for months to years, but allowing for possession to exchange hands.

Asset Liquidation - Many potential home owners have taken to selling or pawning valuable assets to generate enough capital to secure a loan. Recently in Colorado, a 1955 Picasso sketch was 'pawned' to finance a down payment.

As the saying goes, where there's a will, there's a way, and today's real estate market exemplifies that. The bottom line is, consumers will find a way to get what they want. If lenders make it hard to find a mortgage, consumers and realtors will find other avenues of financing. To read more on the subject CLICK HERE for the complete article, or CLICK HERE to contact a Signature Properties of Vermont Realtor.

 

Is remodeling the right decision?

You just bought a new home, congratulations! Now what?  Whether your plan is to upgrade to a larger home soon, or watch your family grow into this house, resale is inevitably on your mind.  Most homeowners are concerned with improvement and adding value to their new home.  Experts will quickly tell you the most value can be found in kitchens and bathrooms.  However, most experts will not tell you how best to avoid devaluing your home.  Taking value away can be easier than adding value, so careful thought should be taken into account before making any major changes.

The good people at HowStuffWorks.com have put together a list of the Top 5 ways homes get devalued.  The overwhelming theme of the list is to try to keep personal tastes from dominating your decorating; stay neutral.

1.      Neighborhood - Nobody wants to try to sell a home that sits next to a home that is painted like a Holstein cow.  It may be cute and even may have had the best, 'Vermont' intentions, however it can be disastrous for neighboring property values.  Although no one can control their neighbors decisions, friendly conversations can go along away to help protect your investment.

2.      Curb Appeal - The very 1st thing any prospective buyer will see is the front yard.  Try to avoid any major changes that decrease the curb appeal of your home.  Do not add clutter, gnomes, flamingos or other artifacts that may only appeal to select buyers.

3.      Paint - A fresh coat of paint goes a long way to bring back the life and luster of a house.  However, use caution when selecting color.  Always chose a color that will attract the most prospective buyers. Remember, keep it neutral and fitting with the rest of the neighborhood to retain property value.

4.      Kitchen - In today's market, a modern kitchen is a huge selling point, however a bad kitchen can spoil the deal.  Remember, nobody wants to to buy a kitchen that was put in incorrectly; selling a DIY project gone wrong can be very challenging.  Consult with a professional before undertaking remodeling project.

5.      Bathroom - Second to the kitchen, the bathroom is the best bang-for-your buck when it comes to remodeling.  This is another place to proceed with caution and without bias.  A bidet, in your mind, may be the symbol of luxury.  However, if it is occupying 1/3 of the small bathroom in a small Cape Cod, many buyers may think of it as an unnecessary extravagance.  When remodeling a bathroom, try too keep personal preferences out of the decisions making process and go with options that will draw the most buyers.

Remodeling can be fun, and adding value is always great.  If resale is in your future, remember to keep it neutral, and ALWAYS consult a professional.  CLICK HERE to read the entire article or CLICK HERE to email a Signature Properties of VT sales agent with any question you might have.

Would you leave your front door unlocked?

 

 

 

Vermont is overall a very safe place to live where it may be more dangerous to leave your Wi-Fi unlocked than your front door.

Today, most people have installed a wireless internet router to provide their home with easy, convenient web access. Most routers have security features allowing only designated users access to the network. Unfortunately many people are unaware of these features or fail to properly utilize them. Without security measures in place your personal data is highly susceptible. Leaving your Wi-Fi open is the digital equivalent of leaving your wallet and iPhone on a Central Park bench. Hackers are able to access your computer from a world away and infiltrate your data as well as your network. Some of the actions taken by hackers include:

  • Capturing passwords and PINs
  • Capturing emails
  • Capturing private/sensitive data
  • Broadcasting emails from personal accounts
  • Broadcasting viruses

The good news is implementing security measures is fast and simple. Most router manufacturers provide step-by-step instructions on their websites.

 

Comments

  1. No comments. Be the first to comment.