Better Homes and Gardens Real Estate Life

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  • Tips to Consider When Forced to Move During the Winter

    For most people, spring is the ideal time to move, but life does not always follow ideal patterns. If the circumstances in your life make a winter move a necessity, here are some tips to take some of the stress out of the process.

    Keep Winter Gear Accessible

    Make sure to pack your winter gear such as your ice pick, snow shovel, salt and other winter home care items in a designated box or storage container to enable you to access easily them. Keeping salt on hand to melt the ice is essential to keeping your moving crew safe as they head up the sidewalk and into your home.

     

    Send Your Pets Somewhere Else

    Consider having your pets boarded with a kennel or a trusted relative to protect them from the cold temperature of winter. Pets are often lost during a move, simply because they become confused with all the commotion taking place during the move. Owners tend to leave doors open while they are moving their belongings into the home, allowing pets to wander off. A pet that is lost in the winter could easily die if the temperatures are low.

     

    Dress in Layers

    You may find that your heavy, winter coat is too hot once you start the strenuous work of moving. Instead of packing on your heavy coat, dress in layers. When the work of climbing stairs and lifting furniture warms you up, you can shed layers easily while packing yet put them back on when heading back out in the cold.

     

    Watch the Weather

    Become a Weather Channel fan during the week before your move. Know what to expect from the weather before you start the process. Remember, a snowstorm on moving day could result in changes to your planned move. Be flexible with your moving schedule if the weather forecast is ominous.

     

    Have an Alternate Route

    The last thing you want is to slide off the road in your moving truck in bad weather. If you were to encounter foul weather, it would alter any moving plans entirely. If you are forced to move when roads are slick with snow or ice, know an alternate route to take. If traffic gets bad or a particular road has not been cleared well, choose your alternate route to avoid problems.

     

    Set Up Utilities Early

    In the winter, you will crave heat and lights the moment you move in. Make sure you do not forget to call the utility company. You will need to ensure that your utilities are in place and fully functioning, prior to the day of your move.

     

    Protect the Floors

    Finally, be sure to put down some protection for your floors to protect them from any salt, road grime or snow that is tracked into the house during the move. Plastic sheeting or heavy cardboard on major walkways, paths and stairs leading into the house is important.

    Moving in the winter is not convenient, but it can be completed safely and with minimal stress by following these simple tips. Before you know it, you will be warm and cozy in your new home.

  • What is a Reverse Mortgage?

    Financial freedom during one’s golden years often requires more funds than expected. By using a reverse mortgage on a property you already own or property that has a low mortgage balance amount remaining, you access the opportunity to meet your financial obligations and still maintain your retirement plans.

    What is a Reverse Mortgage?

    The U.S. Department of Housing and Urban Development calls a reverse mortgage a loan that converts the equity in your property into cash. Essentially, the mortgage is a type of loan that helps with financial concerns or provides extra cash for seniors when they own a home or have already paid the majority of a home loan.

    Although a reverse mortgage is a type of loan, it does not require repayment until you move out of the property or unless you do not meet the obligations stated in the loan agreement. If the homeowner passes away, then the loan is repaid by selling the property. Any remaining equity from the home sale goes to an appropriate heir or is passed down according to a will. If you move from the property, then you must repay the loan according to the terms of your agreement

    Qualification Requirements

    Unlike a traditional mortgage, a reverse mortgage focuses on the needs of seniors. As a result, it has clear standards to determine when an individual qualifies for the loan.

    • Applicants for the loan must be at least 62 years old or older before qualifying for the loan. If a husband and wife own property together, then both individuals must be at least 62 years old.
    • The mortgage requires a majority of the equity in the property. If you still owe money on a previous home loan, then you must discuss your options with a lender before applying for a reverse mortgage.
    • You must pay off a previous home loan before qualifying, but a small remaining balance also qualifies for the loan.
    • The homeowner must live in the property, so a vacation home does not qualify for the loan.
    • You are required to receive a mandatory but free discussion with a home equity counselor before you can be approved for a loan. A counselor provides essential information about the loan and helps you understand the terms and alternative options before you move forward with the process.

    Funding Amounts

    The amount of funds provided by a reverse mortgage depends on several factors, including:

    • The age of the homeowner
    • The current market value of the property. Some locations set a lending limit on the loan, even if your home’s value exceeds the limitation.
    • The interest rates. Younger seniors usually receive fewer funds due to interest charges and the expected timeline before they are expected to repay the loan amount.

    A reverse mortgage offers supplemental income, pays for unexpected expenses, health care expenses, pays off debts, and pays for home improvement jobs, but it only applies to specific groups and individuals. It is not an appropriate mortgage option for young homeowners or for individuals looking for supplemental income from a vacation property.

  • What is Earnest Money When Buying a Home?

    Earnest money in its most basic terms is known as a “deposit.” When you book a vacation or buy a car, you often have to provide a cash deposit. The balance will still need to be paid on a specific date or financed over time. Earnest money, as it applies to a real estate contract, is similarly placed in a deposit. Thus, “escrow” is an account that keeps it safe and separate from other funds until the sales contract is final.

    How is Earnest Money Used?

    Earnest money, also perceived as a “good faith” deposit, demonstrates to a buyer that you are genuinely interested in purchasing the home when you include it with an offer. The amount expected can vary. In some cases, a specified dollar amount alerts the seller that you are interested in negotiating a binding contract. A check for earnest money almost always accompanies the initial offer on a property. The amount of earnest money might be as little as $100, but is usually a percentage of the property’s asking price.

    As a general rule, a figure of 1 to 2% of the price is suggested as a guide for the earnest money to accompany the initial offer. Buyers seeking to signal that they have a serious interest in the property may choose to provide a larger sum of the earnest money in the hopes the sellers may forgo other offers.

    The execution of earnest money can be complex. Various factors impact the disposition of earnest money depending on the state, the specific situation and the contract itself. Before signing an offer or writing a check for earnest money, make sure you understand the “rules of the game.” Be aware of the stipulations of your unique contract.

    Understand the “Rules of the Game”

    • There may be fees
    • There may be additional rules governing
    • You may be entitled to receive interest on funds that are being held
    • You may be forced to forfeit your earnest money in whole or part if you choose not to proceed to closing
    • If a transaction fails to close, even if it is no fault of your own, you may not be authorized to receive a total return of funds

    Buyers and sellers alike are wise to rely on professional advice for real estate transactions. Although law governs many aspects of real estate, “local customs” play a part in all transactions. You will find that local experience and knowledge can be invaluable, especially when navigating through the purchasing process that starts with an offer. It is with an offer that a buyer will provide an earnest deposit and show their genuine interest in purchasing the home.

  • Timeline for Closing on a House

    There are a few steps that you will need to navigate as you prepare and complete a closing on a new home. Below is a timeline you may want to consider so that you will be ready for the closing 30-45 days after your offer letter has been accepted.

    Negotiate the Offer

    Days 1 to 3: Once you make an offer on the home, the sellers review it and provide you with a counter-offer. Negotiations can take several days, and the final offer should establish the following:

    • What is included in the purchase
    • The closing date
    • The moving date

    Book a Home Inspection

    Day 4: After you have a signed final offer from the sellers, you should schedule a home inspection on the property you intend to purchase. An inspection is optional, but it is highly recommended. Through the process of an inspection you learn more about the home and it provides you with an opportunity to request that the seller make repairs if necessary.

     

    Finalize the Purchase Agreement

    Days 7 to 10: Now that you have had the inspection done and have consulted with the sellers, you can finalize the purchase agreement. The purchase agreement must be agreed upon by both the buyers and the sellers in order to move forward.

     

    Complete the Mortgage Application

    Day 14: It is time to make an appointment with your loan provider and finalize your mortgage application. Your loan officer will assist you with all the necessary paperwork to complete the application and will send it forward for final approval.

     

    Order an Appraisal

    Days 15 to 20: The mortgage company will need an appraisal done on the property to estimate its value. Once the appraisal is completed, the loan is one step closer to being approved. The mortgage company will review the results of the appraisal and determine if the loan is acceptable considering the value of the home. In some cases, additional paperwork is required. In most situations, the mortgage company can evaluate the appraisal and complete the loan application process within the time limits established in the purchase agreement.

     

    Receive Final Loan Approval

    Days 25 to 45: Your lender will give you a final loan approval, and you will be considered clear to close on your new property. Once you have received your final approval, all you have to do is to start the countdown until your closing date.

    Once you have the cleared any obstacles that might be in your way to close, all you have to do is wait for closing day. Your closing is typically 30-45 days after the offer has been accepted. It also depends on the deal that you negotiated with the sellers of the home. A closing day is a big event. Once all of the papers have been signed, and all the checks have been written, the house will be transferred into your name. You now are the proud owner of a new home that is all yours to enjoy!

  • Tips to Consider When Making an Offer on a Short Sale Property

    Short sales are extremely popular, especially with buyers seeking to purchase property solely based on a reduced price. Price is a huge consideration when purchasing a home and purchasing one at a below market value can provide tremendous savings. As a result, there is a lot of competition when seeking out a short sale. The process of purchasing a short sale is not easy as not only is it competitive to find one, the process to close requires several factors. If you are purchasing a short sale property, consider the following:

    A short sale is when a property is priced lower than the financing owed on the property and the lien holder, typically a bank, is willing to allow the sale to occur despite the price deficit. The buyer receives the property at a favorable price and either the seller handles the deficit, or the bank forgives the debt.

    Approved or Unapproved. Many times a property is listed at a favorable price, and the description will note whether the property is a short sale. It is important to pay attention to if the property is an approved or unapproved property.

    • An approved short sale means that the bank has agreed to allow a sale to occur at the lower price.
    • Many times if a property is unapproved offers are contingent upon the approval of the bank. Offers placed on a short sale that have not been approved can be a big waste of time.

    Patience. A short sale requires patience. Numerous variables are at play when purchasing a short sale, and the process can be time-consuming. Once a solid offer is presented, it may also take longer than usual to have it accepted. Not only must the seller accept the offer, the lienholder must also approve it to facilitate the sale. Knowing that there are several steps involved in the process is essential. At the same time, with a little patience you may end up with a great property and at a terrific price.

    “Cash is King.” In a short sale situation, the lenders are taking a loss on the original loan. It is more favorable in this situation not to have too many variables to be involved. If you were to offer cash, it would in most cases, gain the attention of the lender. Another benefit of offering cash is it allows for less time needed to close the deal. Most importantly, in the event of a short sale, cash offers to move properties much faster.

    These tips will prove useful when considering the purchase of a short sale property. It is always best to anticipate what to expect and how the process will unfold when working with short sales properties. Working with a real estate professional is always in your best benefit as they will guide you every step of the way to acquire short sale real estate.

  • Strategies for Finding the Right Moving Company

    Choosing a moving company is not an easy task. There are numerous companies’ eager to earn your business, but they may not all be trustworthy. It is important that you conduct your due diligence before making a final decision about a moving company. After all, they are transporting your most treasured possessions, and you will want to have them arrive safely and without incident to your new home. Here are a few guidelines to follow when choosing a moving company.

    Ask Around

    Start your search by creating a list of recommended moving companies. If you have friends or family who has used a moving company recently in your area, request a recommendation. Talk to your neighbors and check out reviews found on the local site.

     

    Check Them Out

    Conduct an online search for a moving company on sites such as the Better Business Bureau (BBB) to determine if there have been any issues reported of the company. At American Moving and Storage Association (AMSA), you can determine if a moving company is a member, which is a sign of quality moving company. They also provide helpful information such as free quotes, articles, and other resources. RipOff Report and Moving Scam’s offer reports about scams and complaints about moving companies to provide you with an understanding of their reputation.

     

    Call for an Estimate

    Once you narrow down your search to about three or four companies, call them for an estimate. They should come to your home and offer an estimate to determine some items you will need to be moved. The best type of estimate is a not-to-exceed estimate or a written binding estimate, which both cap how much you will pay for your move. Non-binding estimates are less desirable, as they almost always are more expensive once the work begins. Make sure to share with the estimator everything you plan to move, including items in the garage, in storage and the yard. Original estimates can be challenged if it appears you did not provide them all your items at the start of your discussion.

    Compare the Bids

    Make sure the bids from each company include all the same items. If a company provides an offer lower than the others, that may be a “red flag” that there are issues with the company. When there are several bids in the same price range, then you may consider it as an opportunity to negotiate a lower price.

     

    Check Licensure and Insurance

    While investigating a moving company, inquire if it’s properly licensed or insured. You can search for a company’s USDOT number on the U.S. Department of Transportation’s site known as the Federal Motor Carrier Safety Administration (FMCSA).  By locating this type of credible information, you are guaranteed that the commercial motor vehicle’s insurance status is positive. The company’s “Common” status should be stated as active with no application pending, and you should see a “yes” marked under “Household Goods.”

     

    Make Your Final Selection

    Once you complete your due diligence, you should be confident about selecting a moving company. Go ahead and sign the contract, and get ready for the big move to your new home!

  • Buying a Home in Atlanta

    Buying a home in Atlanta offers numerous options from a downtown penthouse to a sprawling home in Buckhead. With a population of approximately 500,000 residents, the city of Atlanta is Georgia’s largest city, and the Atlanta metropolitan area is home to over 5 million residents, making it the ninth largest metro in the country. Although Atlanta’s population has historically been largely of African American descent, the city is undergoing a change that has moved the city toward a more ethnically diverse community according to the most recent census. If you are in the market for Atlanta real estate, deciding what type of home you wish to purchase and what neighborhood vibe you are looking for will make your search easier. Some Neighborhoods to consider are:

    Downtown Atlanta

    Downtown Atlanta offers culture and convenience for anyone looking for an urban oasis. Along with world class dining options throughout downtown Atlanta, you will find a shopping and entertainment district called Underground Atlanta, which offers residents and visitors alike a one of a kind attraction. If you are buying a home in Atlanta, and are interested in living in the city at an affordable price, there are plenty of condominiums to choose from in Downtown Atlanta.

    Midtown

    Just north of Downtown Atlanta is the Midtown neighborhood. Midtown is the second largest commercial district in the city, and it is also where you will find many of the area’s art institutions, such as the Woodruff Art Center, the Atlanta Symphony Orchestra, as well as institutions of higher education. Real estate in the Midtown neighborhood runs the gamut from mansions to inexpensive apartments.

    East Atlanta

    On the eastside of Atlanta, you will find more established neighborhoods that are home to many of the city’s middle to upper middle class residents. Traditional single family homes built during the first half of the last century can be found on the eastside of Atlanta. If an established family neighborhood is at the top of your list, and you are not looking for a newly constructed home, then the eastside is where you may want to start your search for a new home.

    Buckhead

    Often referred to as the “Beverly Hills of the East,” Buckhead is a financial hub and one of the largest business districts in Atlanta containing high rise office buildings, condos and hotels. Buckhead is where you can find some of the most expensive luxury estates in Atlanta. Brand new, high-rise, luxury condominiums can be found lining the perimeter of Buckhead’s commercial district, and just a short drive away, you can find historic mansions that give you a glimpse of what Atlanta looked almost a century ago.

    West Midtown (a.k.a. “Westside”)

    If you are looking for a loft in an eclectic neighborhood, Atlanta’s Westside (West Midtown) may have the home you are looking for.  What used to be a neglected industrial town is now home to some of Atlanta’s trendiest dining establishments. Tech companies looking for office space with open floor plans have been turning to Atlanta’s Westside. West Midtown has seen a significant amount of gentrification over the years. Warehouses and factories in the area have been converted into office space, housing, and art galleries.

    As you can see, the Atlanta real estate market offers something for everyone. Regardless of your price range, style, or preferences you can find your dream home in one of Atlanta’s many diverse neighborhoods.

  • Outdoor Tips to Save Time this Summer

    By Carson Arthur

    Want to save time this summer? Here are my top outdoor tips to make your life easier!

    Outdoor Tips to Save Time this Summer - bhgrelife.com

     

    Plants are work. Whenever the experts talk about low maintenance plants, they are still talking about work, just less work. For some problem areas, you want no-work solutions. Garden art, or non-living items are just that; cool things in your gardens that require no effort. Funky birdhouses, architectural metal shapes, even tall wood obelisks all make for an interesting garden space and once they are in, they require zero effort to maintain! In fact, most of these items look better with age.

     

     

     

     

  • Learn All About BHGRealestate.com with Our New Sweepstakes!

    Learn All About BHGRealestate.com with Our New Sweepstakes! - bhgrelife.com

    House hunting can be overwhelming at times. The reality is that you’re not looking for just a house. You’re looking for a home, and more – a space where you and your loved ones can feel secure, stimulated, and comfortable. At Better Homes and Gardens® Real Estate, we understand that, which is why we are proud to introduce our rebranded website offering “the most comprehensive lifestyle based search in real estate,” and that it’s built for easy use on any mobile device with swipeable photos and other mobile-responsive features; as well as offering great community content on schools, median home prices, weather, and Yelp information.

    Your Dream Home is Within Reach

    Our website will help you to find a home based on what really matters to you – whether you’re looking for a home within a 20-minute drive from work or one that is close to great schools. Our personalized search and lifestyle sort tools help you easily prioritize the property search results by allowing you to select the top three criteria that are most important to your lifestyle, such as proximity to public transit, school/school zone, or neighborhood/address.

    Lifestyle Sort on BHGRE.com

    We know there is more to a home than just square footage and the number of bathrooms – that’s why searching for a home under such targeted criteria will yield not only a list of properties, but properties that are relevant to you.

    Each home that shows up in the search results will display photos and features of the home, as well as community overview data of the area searched in a property card format. These cards will allow you to holistically compare houses against one another.

    BHGRE search result's community data

    We are also incredibly excited to announce several other features of our site:

    • Find out actual commute times to your place of work within the property search results. That’s right … you can plug in any address, and the time of day you will be traveling to easily pinpoint homes within your reasonable commute time.
    • Learn more about the listing agent.
    • Take virtual tours of the properties.

    The website was designed with you in mind, so we’re mobile-friendly, tablet-friendly and most importantly, people-friendly! Our mobile-first approach ensures that our website works across all platforms regardless of which device or browser version you are using.

    “Consumers are buying homes based on lifestyle requirements, but the way real estate search is done online had not yet evolved to meet that reality. There are many sites out there, but fundamentally they all behave the same way. We have created a site that will forever change the search paradigm,” said Sherry Chris, president and CEO of Better Homes and Gardens® Real Estate LLC.

    Announcing The Friendliest Search in Real Estate℠ Sweepstakes

    To celebrate the success of our rebranded website, we’re giving you the chance to win $2500 with The Friendliest Search in Real Estate℠ Sweepstakes. All you need to do is watch a video to learn all about the great features on our website, enter the code at the end, and you could be on your way to $2500! Head over to our Facebook page to learn more and enter. Good luck!

  • Ask a Pro Q&A: Is Black Paint Too Dark for Walls?

    One reader is ready for a makeover, but how drastic is too drastic? Dream Team member and interior design expert Jennifer Adams comes to the rescue and shows her the light when it comes to painting a wall black!
    askapro_paintwallblack

    Q. Is black too dark for a wall color?

    -Lyn W.

    A. It depends on the room and its purpose. Dark colors often make a room feel dramatic, intimate and luxurious… but in the wrong hands it might feel dark and dreary! Typically I prefer lighter toned neutrals on walls across the board, but you can get away with dark and dramatic colors in rooms such as powder baths, entries, game or movie rooms, and maybe kitchens and dining rooms if there is also a lot of lighter colored cabinetry and a lot of natural light.

    Dark paint in a room such as a living or dining room with a lot of windows could be beautiful, as the change from daytime to night would be so dramatic. But don’t limit dark paint to just large rooms. For small rooms like powder baths you can play up the dark paint with dramatic and sparkly accessories.

    If you think black might be too dark, it might be your gut telling you it is. But if you like the idea of something dramatic and bold, think about dark warm gray or navy blue instead, for a softer effect. You can even work up to a dark color by painting a medium tone warm gray or navy blue first, and see how you feel about it.

    Talk with your paint provider before doing it yourself. A tinted primer or a special type of paint that will hold the color might be necessary for the color you want.

    Send in a picture and let me know how it goes!

    -Jennifer A.