SOLDbyNat.com Real Estate Services

Once the kids are grown, have careers, relationships and get a place of their own, parents find that they may not need their “big” home like they did before. Their lifestyle may have changed and the house just doesn’t “fit” anymore. Benefits of a smaller home: Easier to maintain  Lower utilities Lower property taxes  Lower insurance More convenient location Convenience of a single level Possibly more energy efficient Possibly lower maintenance Moving from a larger home frees equity from the previous home that can be invested for retirement income, purchase a second home, travel, education or just to have a nest egg for unexpected expenses.  The profit on the home, in most cases, will be tax-free up to the exclusion limits set by IRS. There will be expenses involved in selling a home as well as the purchase of a new home.  These will lower the amo...

Buyers with a minimum down payment are generally faced with the decision of whether to get a FHA or a conventional loan.  With the new 3% down payment program on conventional loans, it may become more confusing which loan to pursue. The two loan programs have mortgage fees that can differ greatly.  FHA has a 1.75% up-front mortgage insurance charge in addition to the monthly mortgage insurance charge which was recently lowered by .5%. FHA’s mortgage insurance is a fixed amount where conventional mortgage insurance providers’ fees are determined by individual companies and according to the credit score of the borrowers.  A borrower with a good credit score will be charged less than a borrower with a marginal credit score. Mortgage insurance on conventional loans can be cancelled when the equity in the property reaches 20%.  FHA mortgage insurance in most cases, is paid for the life of the mortgage.  Once a borrower has a 20% equity in thei...

Finding a mortgage lender is not a problem. Selecting someone who will help you find the best loan product for your situation even if it means sending you to another lender is paramount. There is a huge advantage to be able to sit across the table from someone you’re doing business with and look them straight in the eye. It’s difficult to make an informed decision based on a website and a phone call. Doing business with a full-time professional who specializes in residential loans like you’re trying to get is important. You want the loan officer to be familiar with local conditions, values and practices. It’s to your benefit to have a loan officer who has the experience to put the unusual transaction together even if yours is not.  Here are a few questions that will be helpful in selecting the right loan officer. What percentage of your business are FHA & VA compared to conventional mortgages and how long have you been doing them? ...

A bitter-sweet Congratulations to this SELLER !   This guy right here has to be one of the best neighbors anyone could have!  Always friendly and willing to lend a hand (or do it for you :-). The world needs more good neighbors and genuine people like this! This family will truly be missed! Now you know the bitter part (I'm losing great neighbors!), so on to the sweet...  I am so happy for this family as they enter the next chapter in lives. In life, when opportunity comes-a-knocking, it is wise to answer it and this was the case. They decided to accept a job opportunity, which meant relocating. And relocating quickly! After some consulting, a lot of hard work, and divine grace, they officially closed on their new home and old home within a few days. Here's a picture I snapped at the closing table... Left - A face of happiness (Buyer) ; Right - A face of relief (Seller) Check out these tips on Being a Good Neighbor.   Neighbor Rul...

Bye-Bye Rental Property and Hello Relieved Seller! Real Estate Investing is all the craze now-a-days and it seems like a simple thing to do, right? Wrong!    Like anything, you need to do your research and understand what you are getting into (short & long term). There are many different ways to invest in real estate (ex: fix & flip, rentals, etc.) and many different aspects to consider (ex: upfront costs, long-term costs, tax liabilities, etc.).    For this seller, he went the rental route and became a landlord. It served it's purpose for several years, but then the headache started to outweigh the profit. Fortunately, the stars were aligned and the market was up! Fast forward to present day...    I listed this home on the 14th and it was under contract by the 20th. Not bad huh? When a home shows well, is in good condition, and priced right, it will go quickly in today's market. I work with my sellers in these areas p...

Most people’s first introduction to Radon is during the inspections of a home. It can be as much a surprise to a seller as it is a buyer. Radon is an invisible and odor-free, cancer-causing radioactive gas. Radon can get into a home through cracks in solid floors, construction joints, cracks in walls, gaps in suspended floors, gaps around service pipes, cavities inside walls and even the water supply. It is estimated that one out of every fifteen homes in the United States has elevated radon levels. The EPA recommends that you test your home which is the only way to find out if you and your family are at risk. If the level found is 4 picocuries per liter or higher, the EPA suggests that you make repairs or install a radon reduction system. Even lower levels can have health risks. The EPA’s interactive map  is available to find state and county information but still recommends that all homes should test for radon. More information can be found from the EPA...

There are sites all over the web that offer to tell you what your home is worth.  Simply plug in your address and email and you’ll get a value.  It’s fast; it’s easy but is it accurate? The value is determined by what is called an Automated Valuation Model (AVM) that analyzes public record data with computer decision logic.  Square footage, age, number of bedrooms and location are easily definable objective data.  The challenge is identifying, measuring and comparing the subjective data. An AVM cannot identify how unique features might add or detract from the value, if the market is declining or why the comparable sales apply or don’t apply to the subject property.  Is a home worth more because it is near shopping or less because it is across the street from a high-traffic commercially zoned property? Experienced professionals are more likely to make proper adjustments for condition, market appeal and positive and negative i...