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2013 Home Buying Season Kicks Off Early
*This is a repost from a April 2013 blog.
Don't trust home searching sites that give you false info and show you homes that are actually NOT on the market! If you are looking for a home in the SoCal area, search for free from a trusted source! bit.ly/realtygoddesshomesearch
Home prices are rising, the number of homes for-sale is showing a slight increase, and homes are selling faster—all signs that spring is in the air in real estate, according to the latest MLS data released by realtor.com®.
Nationwide, median list prices continue to tick up, reaching $189,900 in February. Inventories last month increased 1.15 percent month-over-month, after recently hitting record lows. Also, homes are selling faster with the median age of inventory at 98 days, a 9.26 percent drop from the previous month.
“As we enter the busiest time of the year for home buyers and sellers, our latest housing trend data shows just how competitive the market is with a significant housing recovery well underway,” says Steve Berkowitz, chief executive officer of Move Inc. “Looking ahead, we can expect the amount of inventory to increase this spring along with higher list prices as sellers become more comfortable with the market conditions.”
Median list prices were up 5 percent or more in 51 markets on a year-over-year basis, according to realtor.com®. California markets are seeing some of the highest increases in list prices as well as some of the largest declines in for-sale inventory. Other top performing markets include Phoenix, Seattle, and Denver, according to realtor.com®.
“However, many smaller industrialized markets in the Midwest and the Northeast registered year-over-year price declines, as did Philadelphia, Chicago, and New York City,” Lexie Puckett reports in a recent realtor.com® blog post. “While the number of markets experiencing year-over-year list price declines had been increasing, this pattern appears to be turning around as home list prices increased in 78 markets last month on a year-over-year basis and declined in 39.”
Source: “Spring Home Buying Season Starts Early According to Realtor.com’s February Trend Data,” RISMedia (March 18, 2013)
Painting Your Own Home: Tips to Make the Process Painless
Painting Your Own Home: Tips to Make the Process Painless
While it’s might seem easier to hire professionals to paint the house, but with a little research you can find the job is not as intimidating as it seems. With a few free days set aside and some preparation, painting one room (or multiple) is easily doable for anyone. Here are a few things to consider before you start.
Apply a Primer Coat
Preparation entails most of the painting process. It’s easy to become frustrated during the preparation stage, because prepping to paint can take longer than the actual painting component of the project.
Interior walls aren’t always perfect, and painting the walls is a perfect opportunity to fix those imperfections. If you’re using a putty or a filler to patch holes, the paint will react differently to those substances than it will the wall itself. The solution here is to prime your walls, so the new paint color has a uniform surface to adhere to. It’s one simple step that doesn’t seem like much, but could end up saving you a whole lot of work at the end of the process.
Factor in taping time
Taping up the room is tedious work, but will be worth it when you don’t have to waste time being ultra-careful or nervous when getting close to edges. Instead of trying to take the tape off while the paint is still dry, wait at least 24 hours for the paint to dry, and use a knife to slice the tape off at the edge. If the paint is still even a little wet or gummy, don’t continue. Make sure the knife is sharp enough and pull the tape away at a 45-degree angle, making sure not to rip the paint.
Set up with clean-up in mind
To protect floors, a drop cloth is a necessity. In some cases, cotton or canvas drop clothes can work better than plastic. Plastic drop cloths can be slippery and don’t easily stay in place, especially when ladders are involved. Any splatters or drips of paint that fall onto a plastic drop cloth won’t dry or absorb right away and can be easily tracked throughout the rest of your house. A canvas or cotton drop cloth will be more stable and will protect the floors better. Tape the edges of the drop cloth to the tops of the trim to protect both the floor and the trims from any splattering or dripping paint.
Work top down
Not only does it prevent drips from ruining anything you’ve already painted, but it keeps the walls and baseboards free of any dust or debris from sticking to wet trim. Paint the ceiling first, move to the walls and possible crown moldings. Only then should you move to any trims around windows or doors and finish with the baseboards. Not only will this keep a system in place to ensure there’s no questioning what’s been painted and what hasn’t, but it’ll keep things clean.
Check thickness of previous paint layers
Cracks on an exterior paint job don’t reflect the owner’s best intentions and should be fixed before the damage is too much to fix. Too thick of a layer of paint means that the paint might just be too heavy to stay, and will start to crack and to peel off. It loses its grip and can’t attach to the other layers of paint. In older homes, it’s likely that some of those layers of paint have lead in them, in which case you’ll need to look into how to remove it safely. The EPA has guidelines here. This could be the one step that requires you to outsource, if the layer of paint is extremely thick, because removing it completely (and correctly) will ensure the next coat of paint will attach correctly. Hiring a home washing company can help you identify these cracks in exterior paint as well. If anything, have the exterior of your home professionally power washed, so the paint will have a clean surface to adhere to.
Using these tips, ideally the house-painting process will be doable for anyone. Prepare yourself to set aside time for set-up, knowing that it will help when you’re done painting and ready to clean up. Instead of hiring painting professionals, save some money for decorating and tackle the job yourself.
Curious to know how much your Southern California home is worth! Get an instant report now! www.CaliOnTheMove.com
Bio: Matt Lawler is an Internet marketing specialist from Tempe, Arizona where he attended Arizona State University. Whenever he can step away from the computer, Matt enjoys playing sports, traveling and exploring the great outdoors. Follow him on Twitter.
Laura Key, REALTOR® Cal BRE 01908085 310-866-8422 Laura.A.Key@gmail.com www.KeyCaliforniaHomes.com
Happier Hardwood Floors
Hardwood floors make for a beautiful, stunning addition to your home. However, they can bring new cleaning and maintenance challenges that aren’t present with carpet. Here are some tips for simple, efficient, and thorough hardwood floor cleaning.
Make the job easier Place mats on either side of your exterior doors and always remove your shoes before entering your home—and make sure your guests do the same. Protect the floors by placing felt (or similar) protectors on the feet of your furniture, and use area rugs to designate play areas for the kids. This will reduce extra dirt, dust, and floor scratches.
Weekly cleaning Sweeping with a standard broom will remove some dirt and dust, but not as much as a mop, wipe, or broom that’s been treated with a dusting agent such as a Swiffer. You could also invest in a vacuum that is designed for hardwood floors. Just be sure that the vacuum won’t leave scratches!
Deeper cleaning Regular sweeping will remove most dirt and dust, but occasionally you’ll need to give the floors a deeper cleaning to remove the dirt and grime that builds up in your floors’ seams. Use a wood-cleaning soap to thoroughly mop your floors, but make sure the mop isn’t sopping wet—you don’t want to leave standing water.
Spots and scuffs Most of the marks that occasionally show up on your floors, such as scuffs from rubber soles on boots and shoes—can be wiped away with a rag or very fine steel wool.
To find your next home: www.KeyCaliforniaHomes.com To find the value of your current home: www.CaliOnTheMove.com
The "KEY" to your real estate dreams!
Lots of Los Angeles Real Estate Agents want to be stars as big as the celebrities they cater to. Me? I just want to help people find the homes that make them happy and help them to create a sanctuary for future dreams and lasting memories.
Laura Key 310-866-8422 Laura.A.Key@gmail.com Cal BRE #01908085
Home Design Inspiration For Your Bathroom
A few candles, a dimming light, a glass of bubbly, some music and some bubbles....YEAP!
Start your home search out RIGHT! Access homes from a direct source! Text LKHOMES to 87778 today or go to http://87778.mobi/LKHOMES Available on iPad/Tablet/Smartphones
Source: http://homedesignboard.com/bathroom/home-design-inspiration-for-your-bathroom-12/
Tree Hugging REALTOR®
This weekend I had a wonderful time previewing homes in Hancock Park. You would think that since I see so many homes with clients the last thing I would want to do on a rare off Sunday is go see more homes! Sometimes you find treasures worth more than gold. Such is the finding of this fabulous tree. This great maze of branches and leaves still lives behind a multi-million fixer upper.
The minute you see this fallen beauty you know it has stories to tell. Children climbing it's branches, picnics under it's once upright limbs. You just don't see things like this everyday. And even though this old tree has fallen, it will still have many stories to tell. I do hope that the new owners leave it right where it is, so it can create future stories for all to wonder at.
There is something so rare, so beautiful and so peaceful about standing beside it. I could not fit the whole tree in a single photo. Look at the first photo, you will see the base and some of it's exposed roots.
Memories, precious memories this tree holds! I feel all the more wiser just for seeing this classic beauty!
Ready to start making memories of your own? Find your new home today! Text LKHOMES to 87778 for your FREE. Or call me today and let's get started on your personal journey! 310.866.8422
Hancock Park, Memories, California Homes, Holiday Joy, Childhood Dreams, Trees, Old Trees, Wisdom, Peace, Peaceful, Joy, Majestic, Realty Goddess, Realtor Goddess, Real Estate Agent, #1 Agent, Windsor Square, Mid-Wilshire
Beautiful Tile Work
This beautiful tile work was found in a bathroom located by the pool! Just Gorgeous! Its bright and detailed. In my opinion you just can't go wrong with mermaids by a pool.
Buyers: Ready to find your new home? Sellers: Want to see what homes are being listed at in your neighborhood?
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Hard at Work In Real Estate
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California Real Estate, Los Angeles Homes, Homes for Sale, Larchmont Homes for Sale, Hancock Park Homes for Sale, Windsor Square Homes for Sale, West Hollywood Homes for Sale, Koreatown Homes for Sale, Realty Goddess, Top Los Angeles Real Estate Agent, Real Estate Agent, Realtor, MLS, Home Search
FHA Limits for Los Angeles Area
Homeownership is not out of reach. FHA limits in California are one of the highest in the country. I have great lenders that can help you reach your real estate goals! Call me to get started on your homeownership goals!!! Laura Key 310.866.8422
Here are the current limits for Los Angeles (as of August 23, 2013) FHA allows 3.5% downpayment over a 15 to 30 year term!
Single Family $729,750
Duplex $934,200
Tri-Plex $1,129,250
Four-Plex $1,403,400
Source: FHA.com
More Renters Say They Want to Own, Survey Finds
Interested in purchasing a new home! I have a team that can help you reach your real estate goals! Call me today! Laura Key 310.866.8422
The majority of renters say home ownership is one of their highest priorities for their future, and more renters are saying they want to buy soon, according to the 2013 National Housing Pulse Survey, conducted by the National Association of REALTORS®. Renters are showing stronger desires for home ownership compared to recent years, according to the survey.
“Home ownership matters to Americans who consistently realize the many benefits it provides to communities, families, and the nation’s economy,” says NAR President Gary Thomas. “Due to high housing affordability and today’s interest rates it makes sense for people to consider home ownership over renting. In fact, in many parts of the country it’s cheaper to own a home than to rent one. Therefore, it’s no surprise that renters recognize that owning a home offers tremendous long-term benefits and is an investment in their future.”
Fifty one percent of renters say that eventually owning a home is one of their highest personal priorities, up from 42 percent in the 2011 survey.
The survey found that 80 percent of the 2,000 Americans surveyed say they believe buying a home is a good financial decision. Sixty-eight percent said now is a good time to buy a home, too.
Their main motivations to home ownership: Building equity, wanting a stable and safe environment, and the freedom to choose where to live, the survey found.
Meanwhile, the main obstacles to home ownership have remained the same over the years: saving for the down payment, closing costs, low wages, and student loan debt.
“Student loan debt is a concern for many consumers in today’s market, especially first-time buyers,” Thomas says. “Buyers with student loan debt may find it difficult to access mortgage credit, as well as save for a down payment. Pending mortgage finance regulations requiring higher down payments could also contribute to the already tight lending environment. REALTORS® are working with regulators to address this issue and are committed to making sure those who are willing and able to own a home have the opportunity to pursue that dream.”
5 Home Inspection Red Flags
Inspection is always a good way to see the bones of your new home! Do not ever skimp on inspection! Laura Key 310.866.8422
A home inspection is a buyer’s opportunity to see if any problems lurk that may prove expensive to fix later. Home inspections nearly always uncover something in a home to watch for or minor repairs needed. But what repairs should buyers especially be alarmed about that could possibly send them back to the negotiation table? Tom Kraeutler of The Money Pit, a nationally syndicated radio show on home improvement, points out some of the following home inspection red flags:
- Termites and pests: The sooner termites are detected, and steps can be taken to get rid of them, the better.
- Drainage issues: A home that has poor drainage can have wood rot and wet basements and crawlspaces, which can then lead to major mold growth.
- Mold: Pervasive mold growth may indicate an issue with improper ventilation issues and can also cause health issues to those living in the home.
- Faulty foundations: A cracked or crumbling foundation could be a very expensive repair.
- Wiring issues: Outdated wiring or overloaded circuits can pose a fire hazard.
Source: DAILY REAL ESTATE NEWS | MONDAY, JULY 22, 2013
Call me today! Let's get you started on making your home dreams come true! Laura Key 310.866.8422
Higher Home Prices Cool Buying Frenzy
Is all this frenzy creating a mini-housing bubble? What are your thoughts on this housing market? Laura Key 310.866.8422
The recent rise in home prices has more investors concerned that it will be increasingly difficult to turn a profit from their rental investments. Nearly half of U.S. real estate investors say they expect to purchase fewer rental homes in the next year, according to a recent survey conducted by polling firm ORC International.
Just 10 months ago, the percentage of investors who said they intend to buy fewer homes stood at 30 percent—compared to 48 percent today. Only about 20 percent of the investors surveyed say they plan to buy more homes in the next year—a drop from the 39 percent who reported they intend to buy more homes last August.
More than half of the investors surveyed who own rental properties say they plan to hold them for at least five years or more, and 33 percent plan to hold them for 10 years or more.
“Higher prices are reducing returns on investment and investors are responding by cutting back on their purchasing plans until conditions sort out,” says Chris Clothier, a partner in MemphisInvest.com and Premier Property Management Group. “Fewer foreclosures, rising property values, and competition from hedge funds are making it tough to find good ideals on distressed sales. On the other hand, investors are planning to hold onto their rental properties for at least eight to 10 years and realize the benefits of rising rents and low vacancy rates. Cash flow is much more important than appreciation.”
Source: ORC International
Laura Key, CBS News, Buyer's Agent, Selling Agent,
Thinking of Selling? I have buyers who are pre-approved and ready! They are looking in several areas of Los Angeles county!
New House - New Yard - Got Plans?
What would you do with your new yard? Call me and let's get you started! Laura Key 310.866.8422
Condominiums – Should You Consider Purchasing One
Condominiums tend fall into the love them or hate them position for buyers
Condominiums are all about communal living, which can be good or bad depending upon your personal views. This type of communal living doesn’t refer to the failed experiments of the sixties wherein hippies packed into a structure and shared everything. Instead, the modern condominium community is all about sharing common spaces as well as rules, rules and more rules.
Condominiums come in all shapes and forms. Condos can be found in a single high rise building in a downtown area or in an apartment complex type of layout in a planned community. The structure isn’t the determining point. Instead, the issue is how the properties are owned.
Unlike a stand alone home, the property lines on a condominium are the walls of the structure. Essentially, you own everything inside the condominium as your individual property. Everything outside the condominium is owned jointly with the people who own the other units. These areas are known as common areas and are subject to group rule.
Every condominium has a homeowners association in one form or another. The association has rules set out by the original developer regarding landscaping and so on. Members of the community are then elected to the board of the association, whereupon the immediately become a focal point of aggravation from individual owners and often wonder why they took the thankless job.
The problem with the association and condos in general is the issue of uniformity. If you desire to change the exterior of your condominium in some way, you must comply with the rules of the association. This means you cannot paint your property a different color, do landscaping and so on. For some people, this isn’t a problem, but others are frustrated they can’t express themselves.
When deciding whether a condominium is a good option for your next purchase, you need to carefully weigh the restrictions of a particular association. If you consider yourself an individual and want to show it, a condominium is probably a very poor choice for you.
Budget for Closing Costs – Home Inspection and Title Fees
Buying a home means you also have to budget for additional expenses! Make sure you put some money aside for the extras.
Purchasing a home is a euphoric event. Once escrow begins, the euphoria can change to frustration, particularly if you are not ready for the closing costs that quickly accumulate.
Closing costs simply refer to the fees associated with various things associated with the escrow process in a real estate transaction. In the excitement of having an offer accepted for your dream home, you can easily lose track of the fact you are going to need to have some serious cash on hand to pay them. Many people make the mistake of only assuming they need the down payment money, and have to rush around town trying to come up with money for the closing fees.
If you are buying a home, you need to get a professional home inspection. Doing so can reveal potential problems with the home that you wouldn’t otherwise notice. Problems can include things such as rot, termites, water leaks and a bevy of other issues. The time to do this is during escrow. Of course, that means you are also going to have to pay for the inspection. Depending on the size of the property, home inspections can run a few hundred dollars up to a few thousand. Make sure you have money set aside for the fees.
Title insurance is something you absolutely must purchase when you buy any real property, a home, building, land or whatever. Title insurance protects both you and your lender. Title insurance is just what it sounds like. A title company will research the title of the home and essentially guarantee that the title is good. This means the seller actually owns the title and has the right to sell it to you. The title company will also make sure there aren’t any liens on the homes or other things that will cause you problems. Depending on the price of the home, title insurance can run you a couple of hundred dollars or up into the thousands. Again, it is important to find out the cost and budget for it.
Title insurance and a home inspection are two things you should absolutely have when purchasing a home. Just make sure you budget for them.
Laura Key, BRE 01908085 310.866.8422 Laura.A.Key@gmail.com www.KeyCaliforniaHomes.comA Bit About Mold
There are a number of little things to look out for when purchasing a new home. Normally the things to consider includes such things as location, wiring, the condition of the house itself, and several other factors. One of these factors that the home buying public is becoming more concerned with is mold.
There are a number of little things to look out for when purchasing a new home. Normally the things to consider includes such things as location, wiring, the condition of the house itself, and several other factors. One of these factors that the home buying public is becoming more concerned with is mold. There are many different types of mold that can occur in a home and lead not only to structural damage, but some health concerns as well. Mold is difficult to find in many homes as it grows exclusively in dark and moist areas that are usually hidden somewhere in the structural areas of the home such as attics and basements. By the time mold shows up in the actual living areas, chances are that it is all through the home.
One of the most likely places for mold to form is anywhere that moisture is improperly vented. Another area of concern is if a home has ever flooded and was not completely or properly cleaned and dried after. Leaky plumbing and basement crawlspaces are other likely candidates. Mold can be a difficult thing to completely get rid of as the only thing it needs to continue growth is an organic material such as wood, and moisture. Both of these items are usually abundant in any home. The most likely was that moisture finds its way into the home is through faulty or leaky roofs and foundations. Both of these areas should be checked over by an experienced mold inspector on a fairly regular basis if there is any worry of mold beginning to grow, or if these has been mold in the past. Mold can be an expensive problem to deal with so be pro-active about looking for it, it can save you money in the long run.
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Where Asking Prices Are Rising the Most
California is rising fast, yet it's not at the highest it's ever been. Interested in buying or selling! Let me assist you in reaching your real estate goals! Laura Key 310.866.8422
Median list prices in May edged up 2.10 percent month-over-month, as housing inventories also were on the rise, creating a greater balance between supply and demand, according to realtor.com’s latest Real Estate Health Report.
The nationwide median list price was $199,000 for May, and up 4.79 percent year-over-year.
"We are seeing large regional markets across the country leading the way to national recovery. These regions are acting as a microcosm for what's slowly happening in the larger real estate market," says Steve Berkowitz, chief executive officer of Move. "Overall, we're seeing seller confidence beginning to respond to consumer demand. Nationally, there are more homes going on the market for a shorter amount of time. And this is happening in our hot markets on a much larger scale."
California housing markets are seeing some of the highest median price gains. The following 10 markets have seen the highest year-over-year list price gains:
1. Sacramento, Calif.: up 42.45%
- Median list price: $284,900
2. Oakland, Calif.: up 38.27%
- Median list price: $495,000
3. Detroit, Mich.: up 31.73%
- Median list price: $125,000
4. San Jose, Calif.: up 30.58%
- Median list price: $679,000
5. Los Angeles-Long Beach, Calif.: up 27.80%
- Median list price: $428,000
6. Fresno, Calif.: up 27.48%
- Median list price: $219,900
7. Phoenix-Mesa, Ariz.: up 27.03%
- Median list price: $235,000
8. Stockton-Lodi, Calif.: up 25.63%
- Median list price: $199,750
9. Reno, Nev.: up 24.23%
- Median list price: $235,900
10. Santa Barbara-Santa Maria-Lompoc, Calif.: up 24%
- Median list price: $775,000
Source: realtor.com®
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Laura Key
Realty Goddess
Laura Key on CBS News
Make Your Pad Reflect You
Hey men should know how to trick out their pads just as much as women do! I have a high amount of male clients who purchase homes, and they don't need Martha Stewart to make it their own! Ready to have your OWN space men? Call me! Laura Key 310.866.8422
Whether you're a sports buff or the trendy guy in your posse, we've got ways to make your pad part of your image.
By Karin Eldor, Fashion Correspondent
Page 1: Bachelor pad furniture
If you are where you live, what does that say about the maintenance and effort you have to put into your home? Well, that all depends on what you want others to think about you. So if you're decked out in expensive threads, your effort won't mean much if your place is a disaster, or worse, not a reflection of you.
Whether you live in a small apartment, a 1,500-square-foot condo or a three-level house, the home you call your own is your representative. And when a fine lady comes over to pay you a visit, you want to make sure she's impressed by your space.
You don't need to be an interior designer or spend tons of cash to be proud of your pad. As long as you feel comfortable in it, you will hold your head up high... even while lounging in your favorite chair.
who are you?
Start by asking yourself the following questions, for a self-inventory checklist:
How would you describe yourself? (athletic; cultured; ambitious; stylish; indifferent; etc.)
What are your hobbies? (mountain climbing; traveling; scuba diving; world history; wine tasting; golf; playing music; screenwriting; etc.)
These might seem obvious to you, but remember; making your home a reflection of you is worthless without knowing what your image is -- or at least what you want it to be.
No passions or traits have to be exclusive; you are likely an amalgamation of characteristics and that can be reflected in your home.
get started
The following are different broad categories that can be used as templates for decorating your pad, to bring out the "you" you're going for (based on your profile). Remember; you can be a combination of each of these categories.
The Athletic DudeWhether you're usually glued to the TV watching the big game (and this can mean several simultaneous games) or love reciting sports scores with your buddies after scoring big in your own football game, sports are your thing. Show your appreciation by adorning your home with things like vintage sports jerseys and mementos. And of course, you can't forget a widescreen plasma TV (50 inches or more) -- made larger than life with surround sound -- so that you can watch the game in style while sitting in a super cool recliner.
The HipsterWhen it comes to style, you've got it in spades -- at least that's what your friends tell you. You're a leader who always knows the trends before they hit the streets and your posse relies on you to dictate the latest fashion. This character trait could get pricey when it comes to your home, which is why I recommend starting with a classic, neutral base for the expensive items (i.e. couch, dining table, etc.) and decking your pad out with ultra-hip accessories like cool lamps, trendy vases, a stylin' coffee table, and cutting-edge gadgets.
Whether you're cultured or ambitious, here are some ideas for your home...
Page 2: Home decor
The Cultured BlokeThe ladies are always impressed by your appreciation for the finer things in life, be it your knowledge of fine wine, your travels to Botswana and Brussels, or your penchant for investing in valuable art. Make your pad your canvas by covering the walls with your favorite paintings, and rather than a table from Pottery Barn or Ikea, search for an antique table last used by Louis IVX. Store your wine collection in a slick wine cabinet and display your African masks in the living room.
The GourmetThere's nothing wrong with knowing your way around the kitchen; after all, you've been known to woo women with your creations. Show your female guests that you can satisfy their hunger (and more) by investing in a luxurious kitchen. If you enjoy spending time experimenting with food, make yourself more comfortable by installing a kitchen island, and treat yourself to an industrial-style stainless steel oven range. Pimp up your kitchen with a slick fridge or exhaust hoods, a rack to hang copper pots and pans over your oven or island, or, for those on a tighter budget, accessorize with appliances like a sleek toaster, blender and coffee maker.
The Zen Master Show off your inner peace by placing fresh bamboo or stones in clear glass vases, or for a bigger investment, treat yourself to a Jacuzzi with jets in your favorite bathroom. Maintain a minimalist look with white walls and furniture, and an overall sleek decor.
The WorkaholicWhile this might not be a character trait you want to flaunt, you can spin your workaholic tendencies as "ambitious." Set up a home office with a flat-screen computer, a state-of-the-art desk chair, and a slick table with a lot of organizational features to make you look like a guy who's always in control.
maximize your space
You don't need to overhaul your home to give it that unique touch that's "you." If you've been living in your home for a while and are already settled in, sometimes a slight reorganization can do the trick, as can a paint job and some new accessories.
Source: www.AskMen.com
Bankruptcy And Buying A House - Is It Smart To Buy A House After Bankruptcy?
Each year, millions of people file bankruptcy as a means of erasing their consumer debts. While this approach may relieve stress, a bankruptcy is damaging, and will hang over your head for the next ten years. Still, it is possible to overcome bankruptcy. The key is making smarter financial and credit decisions. With this said, some people choose to purchase a home after a bankruptcy. Here are a few pointers to consider when buying a home.
Each year, millions of people file bankruptcy as a means of erasing their consumer debts. While this approach may relieve stress, a bankruptcy is damaging, and will hang over your head for the next ten years. Still, it is possible to overcome bankruptcy. The key is making smarter financial and credit decisions. With this said, some people choose to purchase a home after a bankruptcy. Here are a few pointers to consider when buying a home.
Reasons to Delay the Buying Process after Bankruptcy
If you consult with mortgage or financial experts, they will likely discourage you from buying a home following a bankruptcy. After your bankruptcy is discharged, there is a black cloud that looms over your credit report.
When any prospective lender reviews your report, they will be notified of your recent or past bankruptcy. In some instances, this justifies an immediate denial. On the other hand, there are lenders eager to help you establish or rebuild your credit. Thus, they will approve a loan request. Nonetheless, the penalties are steep.
Higher mortgage rates can be anticipated when purchasing a home after bankruptcy, especially if you have not established other credit accounts. Mortgage lenders consider two factors: credit scores and credit reports.
Although a bankruptcy appears on your credit report, having a high credit score will increase your odds of getting a comparable rate. Unfortunately, if you buy immediately following a bankruptcy, you will not have the opportunity to boost your score.
Reasons to Buy a Home after Bankruptcy
Lenders will approve mortgage loan applications one day following a discharge. Therefore, it is possible to get a home after a bankruptcy. Buying a home is perfect for rebuilding credit. Moreover, it is the quickest way to increase your credit score.
After a bankruptcy, the average person has a credit score below 600. Good credit consist of credit scores 650 and above. Maintaining current mortgage payments will gradually increase your score. After two years of regular payments, you will have established a good payment history. Hence, you may qualify for a low rate refinancing, which may lower your mortgage payments.
Ready to search for your new home? Start here!
The Great BBQ Debate! Charcoal vs. Gas
It's an age old debate among BBQ lovers all over the country! Charcoal vs. Gas! Before your buy your grill - you should do a little research!
The debate over charcoal versus gas is one you don't want to get in the middle of. The one simple thing you need to know is that it is a matter of taste and convenience. To gain a broader view of the whole range of grills, add to this list electric grills, pellet grills and hardwood cooking as well.
Convenience: The best way to think about this problem is to remember that the more convenient a grill becomes the less smoke flavor it produces. An electric grill is the easiest to use, but doesn't have that real fire flavor, while hardwood fires give you the best flavor, they are the hardest to deal with.
Authenticity: The authentic smoky, off the fire taste of grilled foods is strongest with the original heat source, wood. As you move to electric units, there is very little of this flavor left. In fact, many electric grills add virtually nothing to the taste of foods. However, the simplicity of flipping a switch and grilling, can't be beat.
Taste: On the subject of taste, a study conducted a while back, participants were presented withhamburgers and steak cooked on gas and charcoal units. No one could tell the difference between the charcoal or gas when it came to the hamburgers, but they could tell the difference with the steak. The charcoal grilled steak had a distinct smoke flavor.
Space: To decide what kind of grill is right for you, consider where the grill is going to sit. A small patio or covered area is not the place for a large charcoal grill. Electric grills produce no flare-ups and are safer in smaller areas. Gas grills do produce flare-ups and need to be away from any structure to avoid those pesky house fires. Charcoal can be lit with an electric starter and therefore, used with virtually no open flame.
Grilling: Another thing to consider is how you plan to grill. If you want to come home from work and throw a couple of steaks or chicken breasts on the grill with virtually no hassle, then an electric or gas unit might be what you are looking for.
Cost: Finally, there is the issue of cost. Gas grills are generally more expensive than electric or charcoal; charcoal being the cheapest. If you don't want to spend a lot of money then charcoal might be the answer. However, charcoal is the more expensive fuel. You can easily spend $5.00USD a cookout on charcoal, while gas might cost around $.20USD per cookout. Charcoal won't save you money in the long run.
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Source: By Derrick Riches, About.com Guide
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