The Nightmare Situation that Proves You Need Title Insurance

Title insurance may not be as widely understood as health insurance or car insurance, but it is equally as important for homeowners to secure. Far too many homeowners have found themselves navigating tricky and potentially disastrous situations that only title insurance can resolve.

Title Insurance: Protection For Your Purchase

Unlike health insurance that requires a monthly fee in order to maintain coverage for potential future problems, title insurance involves a single charge, usually around $1,000, to ensure the legitimacy of your home before you buy. A title company will complete thorough research to ensure that the title to your future property can rightfully become yours and that no conflicts exist that would prevent the sale from going through. Common problems that occur include unpaid taxes, judgements, and ownership disputes that place the title of the home into question. Assuming the title company finds that the title is valid, you will receive a legal document stating the validity of the title you are purchasing. This document protects you from any financial loss in the future if an unrealized title conflict arises. Read more

Simple Ways to Boost the Value of Your Home

Whether you have owned your home for two, five, or 20 years, you want to earn as much on its sale as you possibly can. Many elements like the climate of your local real estate market and amount of remaining mortgage debt will impact how much you profit from the sale of your home, but there are many simple strategies you can adopt to boost the value of your home before putting it on the market.

Whip Out the Paint

Paint is one of the most cost efficient ways to improve the appearance of your home. A freshly painted room has the ability to completely transform a potential buyer’s perspective of the quality of your home, and that positive perspective can translate to a rather large sum of money! Considering that a gallon of paint only costs $20 to $30, it’s well worth the investment. Stick to neutral colors that will appeal to a wide range of people, and don’t forget to touch up the baseboards and crown molding as well. Read more

3 Reasons We’ll See a Strong Housing Market in 2017

After the Great Recession hit in 2008, many people wondered if they would ever be able to recover. Now, nearly ten years later, the housing market is looking stronger than it has in a long time. While buyers suffered in 2016 from a sharp rise in home prices, experts expect price growth to decline in 2017. Such a decline would be a welcome relief for potential home buyers who aren’t looking to spend a fortune on their dream home. Read more

2017 Anticipated to Deliver Strong Housing Market

Buying a home of your own is one of the largest accomplishments of your life, and if you’re looking to buy a house right now you’ve probably been saving money for years to make that dream come true. Luckily for you, experts predict that 2017 will be a great year for home buyers.

Positive Trends

For 31 months straight, the National Association of REALTORS® has announced that the Pending Home Sales Index posed above its benchmark value of 100. Since a home is considered pending once it is under contract between a buyer and a seller but not yet sold, a high number of pending homes indicates positive growth for the future. In fact, 80 percent of pending homes close within two months of the contract being established. Read more

What is the Best Way to Negotiate Your Home’s Sale?

Selling your home is a huge decision, especially if you’ve spent many years paying your mortgage in order to use the proceeds from the sale as your nest egg, retirement, or next down payment. You don’t want to undercut yourself, but you also don’t want to be too greedy and lose a reasonable sale offer. Here is how you should handle negotiations.

Price Isn’t The Only Consideration

First of all, the price set to your home isn’t the only detail to consider. The purchase contract and other terms and conditions might make it too difficult, even if the price is fair. For example, some contingencies leave so many loopholes that the deal collapses, like contingencies that link the escrow closing date to the buyer’s sale of their current home. Read more

Tips and Tricks for Selling Your Home During the Holiday Season

house-christmasThe holiday season, for all of its cheer and goodwill, is incredibly overwhelming and stressful for most people. If you are trying to also sell your home during the holidays, you are probably feeling an extra burden of stress that threatens to dampen your spirit, but don’t worry! There are plenty of great ideas to help you harness the best elements of the holidays to help your home sell quickly.

Use Holiday Decor

Though you’ve probably heard that “less is more” when staging your home for walk-throughs, a few subtly placed holiday decoration pieces can help, not hurt. Simple additions such as an evergreen wreath, pinecone-scented candle, and candy cane centerpiece will help the potential buyers walking through your house feel more comfortable. The more comfortable they feel, the easier it will be to imagine themselves living there, and the more likely the sale will become. Read more

The Secrets of Closing for Buyers and Sellers

housing-marketOwning a home is a major landmark in any person’s life, but it’s easy to become overwhelmed by the seemingly infinite number of tasks required to make that ownership a reality. Even after you sign a contract, get approved for a mortgage, and hire your movers, there’s still closing day to contend with. Though closing day might seem like a formality to exchange keys and sign on the dotted line, it can actually turn into a disaster without the right preparation. As a buyer or a seller, use these tips to ensure your closing goes smoothly. Read more

What You Need to Know about Title Insurance

house2You know you need car insurance, health insurance, and even life insurance, but have you ever considered title insurance? Until you buy your home, title insurance may not even enter your mind, but as you approach the landmark of homeownership, title insurance definitely needs to become a priority.

What is Title Insurance?

First of all, a title to a home is the evidence that the owner lawfully possesses that property and can sell it off. Title insurance is essentially an insurance policy that protects you against any property loss or damage you could potentially experience on your home due to liens, encumbrances, or defects in the title. While standard insurances like car, life, and health insurance protect against future events and is paid monthly or annually, title insurance protects against events that occurred in the past that you may not know about. It’s paid in a one-time premium at the close of your home’s escrow. Read more

4 Tips for Efficiently Marketing Your Home

Just as in business, the way that you market your home can make or break your sale. The more exposure the better, but only if your home is in the type of condition you want hundreds of prospective buyers to see. These following tips will help you plan to successfully market your home for a quick and easy sale.

Write Your Listing Ad Strategically

As you write the description of your home that will accompany its pictures, remember that you’re not writing an essay. You must be short and precise while still being thorough. This means you need to stick to the facts, such as the number of bedrooms, bathrooms, and any key features that will appeal to prospective buyers. Read more

Refinancing an FHA mortgage

Do you know the difference in how interest is collected on a conventional mortgage loan vs an FHA mortgage loan?

  • On a conventional loan, interest accrues daily. So every day that loan is outstanding, you owe one more days interest to the lender.
  • On an FHA loan, interest accrues monthly. So once the calendar turn to a new month, you are charged interest for the entire month.
  • When you are refinancing your FHA mortgage, time the closing to take place at the end of the month. Allow time for the 3 day rescission period to run out and have the loan “disburse” on the last business day or second to last business day of the month. There’s no need to double pay a month