THE ADVANTAGES OF PREAPPROVAL

THE ADVANTAGES OF PREAPPROVAL
Getting preapproved before you buy is highly recommended. This article explains some of the advantages of preapproval...

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Are Buyers Overlooking Key Factors in Home Purchases?

Are Buyers Overlooking Key Factors in Home Purchases?

Home buyers may be so swayed by the home’s appearance and price that they may be missing out on researching some other important factors about the home that may keep them happy there for years to come. Articles in U.S. News & World Report and the Community Associations Network highlight some of the most common areas that buyers’ are overlooking in their home purchases.
Some of these overlooked areas include:
1. Nearby zoning. The surrounding area of a home or neighborhood can change drastically through the years so home buyers shouldn’t always assume that what they see today is what they’ll get a few years from now. Green picturesque landscapes outside their windows may one day be replaced by a row of retail stores or major highway? On the other hand, sometimes change can be viewed as good, such as a recreational park or school nearby.
To avoid unhappy surprises, though, home buyers should investigate the zoning of any vacant properties near them to give them more of an idea of what the future may hold.
2. Remodeling interference. Home buyers may have big plans for the home they want to buy, but are they sure they’ll be able to do everything on their list? Homeowner association’s may have something to say about home owners who want to change their exterior. They also may have something to say about additions, like adding a garage or a guest house, or even what type of plants you use in your front or backyard. Any home buyers with lofty remodeling goals may want to check with the community or homeowner association beforehand to make sure their plans will be allowed.
3. Sight, sound and smell. Home buyers might want to tune in to any noise that may pose a problem for them in the neighborhood, such as by visiting the home at several different times of day and night. Maybe it’s all quiet in the afternoon but there’s a loud dog barking next door all evening? Also, how’s the traffic at different times of day? The neighborhood may become a cut-through to commuters during rush hour … will that pose a problem?
And finally, home buyers shouldn’t forget to pay attention to the smell. Depending on which way the wind is blowing at certain times, you might pick up a whiff of a manufacturing plant or waste-processing facility.
So buyers should be encouraged to use all five of their senses in deciding the right home for them, and not forget that long-lasting happiness with a home purchase is much more than fancy upgrades.

Speeding up short sales

Speeding up short sales
Beginning June 15, the Federal Housing Finance Agency, which regulates Fannie Mae and Freddie Mac, will require both agencies to give short-sale buyers a final decision within 60 days...

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Home prices rose most in two decades in March

Home prices rose most in two decades in March
U.S. home prices jumped 1.8 percent in March, the biggest monthly increase in at least two decades, as the housing recovery continued building momentum, the Federal Housing Finance Agency said recently…

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Sellers boosted prices in April

Sellers boosted prices in April
Median list prices rose by 0.7 percent in April from March to their highest level in nearly one year, even as the number of homes listed for sale stood at levels down nearly 19 percent from a year ago, according to a report by Realtor.com…

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Why this may be the ideal time to buy real estate

Why this may be the ideal time to buy real estate
For home buyers thinking about making a move on a piece of property, right now is possibly the best time. Buyers can still take advantage of low prices in most places around the country, and mortgage rates are at once-in-a-lifetime record lows...

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Multiple Offers, All Cash Offers, and Offers higher than the asking price are the current Real Estate Market trend for many homes in South Orange County (California) especially in the price range under $500K.

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