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Breezy Real Estate

Cracking the Code: Your Fun Guide to Rental Property Profitability

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Cracking the Code: Your Fun Guide to Rental Property ProfitabilityEver wondered if that charming little property you've been eyeing could be your ticket to passive income paradise? Let's dive into the not-so-mysterious world of rental property profitability – no advanced math degree required!The Cash Flow Lowdown: Show Me the Money! 💸Think of cash flow like your property's financial heartbeat. It's simple: money coming in minus money going out. Imagine your rental property as a mini-business:- Rent collected: ✅ Money in- Mortgage, taxes, insurance, maintenance: ❌ Money out- What's left? That's your sweet, sweet cash flow!*A positive cash flow means you're not just covering expenses – you're making money while you sleep. Talk about a dream job!Cash-on-Cash Return: Your Investment Report Card 📊This isn't as complicated as it sounds. It's basically answering the question: "How much bang am I getting for my buck?"Quick Math:- Money you put in upfront- Divided by annual profit- Equals your cash-on-cash return percentageAim for at least 8-12%. Anything higher? You're crushing it!Cap Rate: The Investor's Secret Weapon 🕵️‍♀️Imagine a metric that tells you how hard your property is working for you. That's the cap rate!Simple Formula:- Property's annual income- Divided by its total market value- Boom! Your cap rate percentageA good cap rate? Usually between 4-10%, depending on your market.The Magic Rules of Thumb 🍀Real estate investors love quick and dirty rules:- 1% Rule: Monthly rent should be 1% of the property's purchase price- 2% Rule: Even better! (But harder to find)Example:- $200,000 property- Aim for $2,000-$4,000 monthly rent- Instant profitability check!Your New Best Friend: Rental Property Calculators 🖥️Why do complex math when technology can do it for you?Top Calculators:- BiggerPockets Rental Property Calculator- Zillow's Rental Income Calculator- Real Estate Investment Calculator appsReal Talk: Not All Properties Are Created EqualRemember:- Location, location, location!- Research your local market- Factor in potential maintenance costs- Consider long-term appreciation Your Action Plan 🚀1. Find a potential property2. Plug numbers into a calculator3. Check cash flow, cash-on-cash return, and cap rate4. Make an informed decisionBonus Tip 💡Always have a financial buffer. Unexpected repairs happen, and Murphy's Law loves rental properties!Want to turn your real estate dreams into reality? Start crunching those numbers and watch your passive income potential grow!Questions? Call or send us a message. We’re here to help you buy and sell properties and make you become the real estate rock star you were meant to be! 🌟Cheering you on,BreezyRaleigh.comDisclaimer: Always consult with a financial advisor before making major investment decisions. This guide is your starting point, not your finish line!

Real Estate Success - Essential Insights for Beginning Investors

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Are you considering diving into the realm of real estate investing? Congratulations! Get ready for an adventure filled with potential for financial growth and stability. However, before you start signing any contracts or handing over your hard-earned cash, it's crucial to conduct thorough analysis on any potential investment properties. Here's the thing: Real estate investment can be incredibly rewarding, but it's not without its risks. One wrong move could turn your dream of passive income into a nightmare of financial loss. That's why proper analysis is key—it helps you make informed decisions and ensures that you're putting your money into properties with the highest potential for success. But where do you start? How can you accurately assess the viability of an investment property? Fear not, we're here to help guide you through the process step by step. 1. Set Your Investment Criteria: Before you even begin scouring listings, take some time to define your investment criteria. What type of properties are you interested in? What is your budget? What are your long-term goals? Having clear criteria will help you narrow down your options and focus on properties that align with your objectives. 2. Gather Data: Once you've established your criteria, it's time to start gathering data on potential investment properties. This includes information such as purchase price, rental income, expenses (including property taxes, insurance, maintenance costs, etc.), vacancy rates, and market trends. The more data you have, the better equipped you'll be to make an informed decision. 3. Run the Numbers: Now comes the fun part—number crunching! Take all the data you've collected and plug it into a real estate investment analysis tool. These tools help you evaluate the financial performance of a property by calculating metrics like cash flow, cap rate, cash-on-cash return, and return on investment (ROI). This step is crucial for determining whether a property is worth investing in or not. 4. Consider Risks and Exit Strategies: Real estate investing isn't without risks, so it's important to consider them before making any decisions. What are the potential risks associated with this property? How will you mitigate them? Additionally, think about your exit strategy—what will you do if things don't go as planned? Having a solid plan in place can help protect your investment in the long run. 5. Get a Second Opinion: Even if you're confident in your analysis skills, it never hurts to get a second opinion. Reach out to other real estate investors, mentors, or professionals in the industry for their insights and feedback. Sometimes, a fresh pair of eyes can spot things you may have overlooked.Adhering to these guidelines will set you on the path to making smart choices and developing a thriving real estate portfolio. But wait, there's more! If you're looking for an extra edge in your investment analysis, consider utilizing a powerful real estate investment software. The Secret Weapon you don't want to be without:This secret weapon takes the guesswork out of investment analysis by providing you with all the tools you need to evaluate properties quickly and accurately. From customizable financial calculations to interactive property reports, this game changer makes it easy to assess the viability of any investment property with confidence. So, what are you waiting for? Start analyzing properties like a pro and take your real estate investing game to the next level. Your future self will thank you for it! Final Thoughts:Proper analysis is the cornerstone of successful real estate investing. By setting clear criteria, gathering data, running the numbers, considering risks, and seeking outside opinions, you'll be well-equipped to make informed decisions and maximize your returns. And with great tools at your disposal, the sky's the limit for your real estate investment journey. Happy investing! Disclaimer: Always consult with a financial advisor before making major investment decisions. This guide is your starting point, not your finish line!

What You Need to Know About Home Equity

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Hey there, homeowners and future homeowners! Today, we're diving into a topic that's both intriguing and immensely valuable: home equity. You might have heard the term tossed around in financial discussions or seen it in glossy real estate brochures, but what exactly is home equity? More importantly, how can it benefit you? Grab a cup of coffee, and let’s break it down together.What is Home Equity?Think of your home as a treasure chest. Inside, along with the comfort and memories, lies a hidden gem called equity. Home equity is the portion of your home that you truly own, free and clear of any mortgage debt. It's calculated by taking the current market value of your home and subtracting the remaining balance on your mortgage. For example, if your home is worth $400,000 and you still owe $150,000 on your mortgage, your home equity would be $250,000. The Magic of Building Home EquityBuilding equity in a home is a good thing because it grows over time, and it's one of the most significant benefits of homeownership. Here’s how it happens:1. Paying Down Your MortgageEvery mortgage payment you make reduces your loan balance, which in turn increases your equity. Think of it as a slow but steady march toward full ownership.2. Property Value AppreciationReal estate tends to appreciate over time, meaning your home’s value may increase. This appreciation can significantly boost your equity without you having to lift a finger.3. Home ImprovementsUpgrading your home can also increase its market value. A modern kitchen, a new roof, or an additional bathroom can make your home more valuable, adding to your equity.Unlocking the Benefits of Home EquitySo, what’s in it for you? Let’s explore some of the top benefits of having home equity.1. A Safety Net for Financial EmergenciesLife is unpredictable. Having substantial home equity provides a financial cushion for unexpected expenses. You can tap into this equity through a home equity loan or line of credit (HELOC) to cover medical bills, car repairs, or other emergencies. 2. Funding Major ExpensesPlanning a child’s college education? Dreaming of starting a business? Need to renovate your home? Your home equity can be a valuable resource for funding these significant expenses, often at a lower interest rate compared to other types of loans. 3. Debt ConsolidationIf you’re juggling high-interest debts, using home equity to consolidate them can be a smart move. By taking out a home equity loan to pay off credit cards or other loans, you can potentially lower your interest rates and simplify your finances with a single monthly payment.4. Retirement PlanningFor many, their home is their biggest asset. As you approach retirement, you can tap into your home equity to supplement your income. Options like a reverse mortgage allow you to convert your home’s equity into cash without selling the house.5. Increased Borrowing PowerWhen you have significant equity, lenders see you as a lower risk, which can make it easier to qualify for loans and secure favorable terms. The Path to Building EquityNow that we’ve covered the benefits, you might be wondering how to build your home equity faster. Here are some tips:1. Make Extra Mortgage PaymentsEven small additional payments toward your principal can accelerate your equity growth. Consider putting bonuses, tax refunds, or other windfalls toward your mortgage.2. Opt for a Shorter Loan TermIf you can afford higher monthly payments, a 15-year mortgage instead of a 30-year loan can help you build equity much quicker.3. Maintain Your HomeRegular maintenance and timely repairs keep your home in good condition, preserving its value and, consequently, your equity.Final Thoughts Home equity is more than just a number on a financial statement; it's a powerful tool that can help you achieve your financial goals and secure your future. Whether you're planning for emergencies, investing in big dreams, or paving the way for a comfortable retirement, understanding and utilizing your home equity can make all the difference. So, there you have it! Home equity in a nutshell. It's your secret weapon in the world of personal finance. Keep building it, manage it wisely, and watch as it transforms into one of your most valuable assets. Happy homeowning!

Don't Let Renting Cost You: Surprising Ways Renters Lose Money 

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As a renter in Raleigh, NC, you're probably all too familiar with the feeling of watching a significant chunk of your paycheck disappear each month, only to have nothing to show for it at the end of your lease term.  While renting offers convenience and flexibility, it can also be a money pit that prevents you from building real wealth and equity. In this article, we'll explore some surprising ways renters lose money.  Recurring Rent Increases  One of the most obvious ways renters lose money is through rent increases. Landlords regularly raise rents to keep up with market rates and inflation, leaving you with the choice of either paying more or moving – which often comes with additional costs. Over time, these rent hikes can add up to thousands of dollars that could have gone towards a mortgage payment and building equity in your own home.Lack of Tax Benefits  As a renter, you miss out on valuable tax benefits that homeowners enjoy, such as deductions for mortgage interest and property taxes. These tax breaks can save homeowners a significant amount of money each year, effectively reducing the overall cost of homeownership.   Maintenance and Repair CostsEven if your landlord covers major repairs, you may still be responsible for smaller maintenance costs or damage caused by normal wear and tear. From unclogging drains to replacing lightbulbs, these expenses can quickly add up over the course of a lease term. When you own a home, you have the freedom to make improvements and repairs at your own pace, potentially increasing your property's value in the process.Limited Control Over Living Conditions As a renter, you have limited control over your living conditions. You may have to deal with noisy neighbors, outdated appliances, or a lack of personal touches that make a space feel like home. These inconveniences can detract from your overall quality of life and sense of security. The Breezy Raleigh Advantage: Building Wealth and Stability: If you're tired of throwing away money on rent and want to start building equity and wealth, it's time to consider purchasing a home in Raleigh. That's where Breezy Raleigh comes in – a team of experienced real estate professionals dedicated to helping renters like you transition seamlessly into homeownership.  Unlike the typical real estate experience, Breezy Raleigh takes a personalized approach, getting to know your unique needs, preferences, and financial situation. Our expert agents will guide you through the entire home buying process, from preapproval to closing, ensuring that you find the perfect home within your budget.But the benefits of working with Breezy Raleigh go beyond just finding a house – we can help you secure competitive mortgage rates, navigate the complex world of real estate contracts, and even connect you with reputable home inspectors and contractors for any repairs or renovations needed. A Firsthand Experience: From Renter to HomeownerDon't just take our word for it – hear from a former Raleigh renter who made the leap to homeownership with the help of Breezy Raeigh:    "My wife and I had been renting in Raleigh for years, and it felt like we were just throwing money away each month," says Daniel P. "We were hesitant to buy because we didn't know where to start, but Breezy Raleigh made the process so much easier than we expected."    "Our agent, Sam, really took the time to understand our goals and budget. She never pressured us and was always available to answer our questions. When we finally found our dream home, Breezy Raleigh negotiation skills helped us secure a great deal."    Daniel and his wife have been homeowners for two years now, and they couldn't be happier with their decision. "Owning a home has given us a sense of stability and pride that we never had as renters. And knowing that our mortgage payments are building equity, rather than just going towards someone else's pocket, is incredibly satisfying."  What You Can DoIf you're a renter in Raleigh who's tired of losing money and wants to start building wealth through homeownership, it's time to partner with Breezy Raleigh. Our expertise, personalized service, and commitment to your best interests can help make the home buying process a breeze. Contact us today or talk to a local realtor to take the first step towards turning your rent payments into a valuable investment.

How to Save for a House Down Payment

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Are you thinking of saving to buy a house?A house down payment is a necessary first step in owning a home. But saving for a house in the Raleigh, NC area can be difficult, especially for first time buyers. Fortunately, there are several ways you can get started. One of the most obvious is to pay less rent. By reducing your monthly expenses, you will be able to put more money towards a down payment. Another way to save for a house is to make a budget. A budget helps you track your spending and shows you where your money is going. This will be important if you want to know where to direct your savings. Ideally, you'll want to allocate money to various categories including fixed expenses, nonessential expenses, and unexpected costs.The best way to make a budget is to start by looking at your current financial situation. You should be able to figure out your gross monthly income and all of your regular expenses. Once you have this information, you can make a reasonable estimate of how much you'll need to save to buy your dream house. There are several other things to consider when making a budget. For example, you may want to consider getting a roommate. A roommate is one of the most convenient ways to save for a house. However, finding a roommate isn't always easy. Alternatively, you may consider renting a smaller apartment in a cheaper neighborhood.If you have a lot of debt, this could be a hindrance in your quest to save for a house. Consolidating your debts can help you cut down on multiple payments and interest rates. Similarly, if you have a car that isn't being paid off, selling it can help you shave off a few bucks.The simplest and most obvious way to save for a house is to cut back on your nonessential expenses. This can include items such as eating out, ordering imported products, or online shopping. These costs add up and aren't essential. Taking the time to eliminate these costs can be a huge help when it comes to saving for a house. There are also many other ways to save for a house. Consider moving to a less expensive area, downsizing, and taking advantage of government home-buying strategies. In addition, you can try and find a better job or start a side business to boost your income. Probably the most useful tip when it comes to saving for a house is to plan ahead. By preparing for predictable expenses, you'll be able to take advantage of the most obvious saving methods.To do this, make an audit of your spending over a specific period. This can be a simple monthly or quarterly affair. Use an app like Mint or Spending Tracker to keep track of your expenditure. Seeing where your money goes will give you an idea of whether you're splurging or saving wisely. The other big thing to do is to cut out the fads and impulsive spending. Some people like to go out for a fancy lunch or a relaxing afternoon at the spa every now and then. But if you're trying to save for a house, these aren't the best reasons to dine out. In conclusion, the best way to save for a house down payment is through disciplined saving and smart budgeting. First, determine how much you need to save by researching the average cost of homes in your desired area. Then, create a monthly savings plan that allows you to gradually accumulate the necessary funds over a set period of time. It may be helpful to open a separate savings account specifically for this purpose, so you're not tempted to dip into these funds for other expenses. Establishing a budget and limiting spending will help you to make progress towards your goal. Automating regular payments into a dedicated savings account will ensure you stay focused and put money away each month. Additionally, seeking advice from professionals such as mortgage brokers or financial advisors can help clarify the process and ensure you are making sound decisions along the way.     In addition to regular saving, consider other ways to increase your income or reduce expenses. This could include taking on a side job, selling unused items, or cutting back on non-essential spending. You might also look into first-time homebuyer programs or grants that can help supplement your down payment savings. Lastly, investing wisely can also contribute towards your goal if done correctly and with proper guidance. Remember that patience is key when saving for a big purchase like a house. It might take longer than expected but staying focused on the end goal will help make the process more manageable.

Home for the Holidays: 5 Reasons Why Raleigh NC Real Estate is the Ultimate Gift

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Discover the secrets behind why Raleigh NC Real Estate is the ultimate gift, making your holidays truly unforgettable!  The holiday season is a time of joy, gratitude, and gift-giving. While material presents can bring temporary happiness, investing in a new home can provide a lasting and meaningful gift for yourself and your family. If you're considering a new home purchase this holiday season, look no further than Raleigh, North Carolina. With its vibrant culture, thriving economy, and natural beauty, Raleigh offers an array of enticing reasons to make it your ultimate holiday gift. In this curated blog, we present five compelling reasons why buying a home in Raleigh, NC, can be the perfect present for you and your loved ones. Affordable Real Estate MarketOne of the primary reasons to consider Raleigh as your holiday gift destination is its affordable real estate market. Whether you are a first-time buyer or looking to upgrade, you'll find a range of diverse housing options to fit various budgets. From cozy apartments to spacious single-family homes, Raleigh's real estate market caters to all needs and preferences. What's more, Raleigh offers favorable prices compared to other major cities in the United States. You'll discover that your hard-earned money can go much further in terms of square footage, amenities, and overall value. With growth and development on the rise, home appreciation rates in Raleigh are also forecasted to be on the upswing, making it a wise investment for the future.Thriving Job Market and Economic OpportunitiesRaleigh's booming job market and abundant economic opportunities make it an ideal place to settle down. The city is home to renowned universities, such as North Carolina State University and Duke University, and research institutions like Research Triangle Park. These institutions cultivate an environment of innovation, attracting numerous leading companies in technology, healthcare, and finance. With such a diverse range of industries, Raleigh boasts an extensive array of career opportunities. Job seekers and professionals alike will find stability in a city with low unemployment rates and a strong, resilient job market. By making Raleigh your gift this holiday season, you'll be securing a prosperous future for you and your family. Rich Cultural & Entertainment SceneWhen it comes to cultural attractions and entertainment options, Raleigh truly shines. The city's vibrant downtown area is filled with art galleries, museums, and theaters, ensuring there's always something to satisfy your cultural cravings. From contemporary art to historical artifacts, you can explore diverse exhibits and immerse yourself in Raleigh's rich heritage.Raleigh is also renowned for its live music scene, hosting numerous festivals and concerts throughout the year. No matter your taste, you'll find an exciting lineup of local artists and international performers. Plus, food enthusiasts will delight in Raleigh's burgeoning food scene, featuring a plethora of restaurants offering a variety of cuisines. To complement your meal, explore the city's craft brewery scene, which has gained acclaim for its unique flavors and exceptional brews.Educational ExcellenceIf you have children or plan to start a family, Raleigh's commitment to education is another reason to consider it as your holiday gift. The city boasts acclaimed public and private schools, providing excellent educational opportunities for your little ones. Raleigh is also home to top-rated universities and colleges, ensuring that your family has access to quality higher education options close to home. Furthermore, Raleigh prioritizes education by offering a range of programs and initiatives designed to enhance learning experiences. From innovative teaching methods to extracurricular activities, the city fosters a supportive environment for students to thrive. Breathtaking Natural Beauty and Outdoor ActivitiesRaleigh's natural beauty and abundance of outdoor activities make it a haven for nature lovers and adventure seekers. The city is home to stunning parks, nature trails, and greenways, allowing residents to connect with nature regardless of where they reside. Whether you enjoy hiking, biking, or jogging, you'll find numerous opportunities to indulge in your favorite outdoor activities. In addition to its local parks, Raleigh's ideal location provides easy access to the North Carolina coast and the Blue Ridge Mountains. Within a few hours' drive, you can find yourself on the sandy beaches of the Atlantic Ocean or exploring the breathtaking vistas of the mountain peaks. With such proximity to both coastal and mountainous regions, Raleigh offers the best of both worlds, providing endless opportunities for memorable outdoor adventures.Conclusion As the holiday season approaches, there's no better time to consider the ultimate gift for yourself and your family: a new home in Raleigh, North Carolina. With its affordable real estate market, thriving job opportunities, rich cultural scene, high-quality education, and breathtaking natural beauty, Raleigh offers a package of delights that make it the perfect present to celebrate the holidays and beyond. By gifting yourself a home in Raleigh, you'll experience the joy and pride of owning a piece of this remarkable city while reaping the many benefits it offers.

'Tis the Season: Your Guide to Stress-Free Home Buying (and Holiday Celebrating!)

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Hey there, future homeowners and holiday enthusiasts! As we gear up for the most magical time of the year, I know you're not only balancing the excitement of finding your dream home but also trying to keep up with the holiday whirlwind. Fear not – we've got some tips to help you manage your time like a pro during this festive season while still making strides in your home-buying journey.1. Prioritize Your Wishlist Just like Santa prioritizes his naughty and nice lists, it's time for you to prioritize your you home-buying wishlist. What are your must-haves and deal-breakers? Knowing your priorities will help focus on the homes that truly align with your vision, saving you time and energy.2. Set Realistic ExpectationsWith the holidays in full swing, it's crucial to set realistic expectations for your home search. Understand that some sellers might be taking a holiday hiatus, and that's okay. Use this time to gather information, explore neighborhoods, and refine your criteria, so you're ready to hit the ground running come the new year. 3. 'Tis the Season to Leverage TechnologyLet's face it – we live in a digital world. Take advantage of online resources to streamline your home search. Visit BreezyRaleigh.com - It's like having a personal elf (or real estate agent) working for you 24/7! 4. Be Open to Festive FlexibilityFlexibility is the key to success during the holiday season – both in your home search and your holiday plans. Understand that scheduling might be a bit trickier, and some surprises may pop up. Embrace the festive flexibility, and you'll find yourself less stressed and more open to the possibilities that both the season and your home search have to offer.5. Communicate Your Wishlist to Santa... I Mean, Your Realtor Your real estate agent is your holiday helper in the home-buying process. Communicate your wishlist, priorities, and any time constraints with them. A well-informed agent can tailor your search to match your needs and schedule, ensuring a smoother and more efficient experience.6. Take Breaks to Enjoy the FestivitiesHouse hunting during the holidays doesn't mean sacrificing the joy of the season. Take breaks to savor the festivities, whether it's attending holiday events, decorating your current space, or spending quality time with loved ones. A well-balanced approach will keep your spirits high and your energy intact.Wrapping It Up Finding your dream home during the holidays should be a joyous experience, not a stressful one. By incorporating these tips into your home-buying journey, you'll be well on your way to enjoying both the magic of the season and the excitement of your future home. Happy house hunting, and may your holidays be filled with warmth, joy, and the perfect home sweet home!

Navigating the Competitive Housing Market during the Holiday Season in Raleigh: Your Guide to Success

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'Tis the season to be jolly, but for homebuyers in Raleigh, North Carolina, the holiday season brings an extra layer of excitement and challenge. The real estate market in our vibrant city remains competitive throughout the year, and the holiday season is no exception. As Realtors who understand the dynamics of the local housing market, we are here to share some valuable insights on how to navigate the competitive housing market during this festive time. So, grab a cup of hot cocoa, and let's dive in!Embrace the Season's AdvantagesWhile the holiday season might seem like an unconventional time to buy a home, it presents some unique advantages. Many potential buyers postpone their search during this time, assuming that sellers are also taking a break. However, motivated sellers who keep their homes on the market during the holidays are often more flexible and eager to negotiate. Take advantage of this situation and seize the opportunity to find your dream home while others are distracted by holiday festivities. Stay Prepared Preparation is key to success in any real estate market, and the holiday season is no exception. First and foremost, get pre-approved for a mortgage so that you have a clear understanding of your budget and can act swiftly when you find the right property. Also, assemble a reliable team of professionals, including an experienced realtor, mortgage lender, and home inspector, who can expedite the buying process during this busy time of year.Monitor the Market Even during the holiday season, the housing market in Raleigh is active. Stay updated on new listings and price reductions by setting up email alerts and working closely with your real estate agent. Being among the first to know about a new listing can give you a competitive edge, as you'll have the opportunity to schedule viewings and make offers before others have even started their search. Be Flexible Flexibility is crucial when navigating the competitive housing market, especially during the holidays. Understand that sellers may have limited availability due to family gatherings and other seasonal commitments. To increase your chances of securing a home, be flexible with your schedule for property showings and keep in mind that some sellers may need extra time to respond to offers during this busy time of year. Make a Competitive Offer In a competitive market, it's essential to make a strong offer that stands out. Work closely with your realtor to determine a fair and attractive offer price based on market conditions and comparable sales. Consider adding some additional incentives, such as a flexible closing date or a personalized letter to the seller expressing your genuine interest in their home. These thoughtful touches can help differentiate your offer from the competition.Leverage Technology Harness the power of technology to streamline your home search and make the process more efficient. Utilize online resources, such as our  website: BreezyRaleigh.com to narrow down your options and prioritize the properties you wish to visit in person. This approach will save you time and energy while providing a comprehensive overview of available homes. Final ThoughtsNavigating the competitive housing market in Raleigh during the holiday season requires a proactive approach, flexibility, and a well-prepared strategy. By leveraging the advantages of this time of year, staying on top of market trends, and making strong offers, you can increase your chances of finding your dream home. Remember, partnering with a knowledgeable Realtor who understands the local market dynamics is key to achieving success during the holiday season. Wishing you all the best in finding your perfect Raleigh home, and happy holidays!

Starting the Journey: Essential Priorities for New Homeowners

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Purchasing a first home is an exhilarating milestone in anyone's life. It represents a significant accomplishment and a newfound sense of stability. As a real estate agent, it is crucial to guide and support your clients beyond the closing process. In this article, we will explore the priorities that new homeowners should consider, offering valuable insights from the perspective of a real estate agent.Celebrate and Settle InAfter closing the deal, it's important for the couple to take a moment and celebrate their achievement. Moving into a new house can be overwhelming, so encourage them to unwind, bask in their success, and appreciate the journey they've taken. This celebration will create a positive mindset, setting the tone for an exciting new chapter. Make Necessary Repairs and UpgradesOnce the initial excitement has subsided, it's time for the couple to assess their new property. Encourage them to conduct a thorough inspection, identifying any necessary repairs or maintenance tasks. They should prioritize fixing essential items like leaky faucets, faulty wiring, or structural issues that might compromise safety or comfort. Simultaneously, they can also consider cosmetic upgrades to personalize their space and add value to their investment.Secure the PropertyAs responsible homeowners, it is crucial for the couple to prioritize security. Recommend installing a security system, reinforcing doors and windows, and considering exterior lighting options. Advise them to change the locks for added peace of mind. Educate them about home insurance policies, emphasizing the importance of protecting their investment against unexpected events.Establish a Maintenance RoutineTo ensure the longevity and value of their property, the couple should establish a regular maintenance routine. Encourage them to create a checklist for seasonal tasks like gutter cleaning, HVAC maintenance, and lawn care. Remind them to keep records of all maintenance and repairs, as this documentation will prove invaluable in the future. Connect with the NeighborhoodBecoming part of a community is an essential aspect of homeownership. Encourage the couple to explore their new neighborhood, introducing themselves to neighbors and attending local events or gatherings. Recommend joining community organizations or online groups to foster connections, gather information, and create a support network.Understand the FinancesOwning a home involves more than just mortgage payments. It's crucial for the couple to understand their financial responsibilities. Remind them to set up a budget that includes mortgage payments, property taxes, insurance premiums, and utilities. Encourage them to save for emergencies and future maintenance needs.Get to Know the Home's SystemsAdvise the couple to familiarize themselves with the various systems in their new home, such as the electrical, plumbing, and heating/cooling systems. Provide them with manuals and contacts for reliable contractors who can assist with any repairs or maintenance needs. Educating themselves about these systems will help them troubleshoot minor issues and make informed decisions in the future.Plan for Future Home ImprovementsWhile the couple might be content with their new home, it's essential to discuss their long-term goals and plans. Encourage them to think about future home improvements, such as renovations, additions, or landscaping projects. Help them explore financing options and suggest reliable contractors or designers who can assist them in realizing their vision. Stay Informed about Real Estate TrendsAs their trusted real estate agent, it is crucial to keep the couple updated on local real estate trends and market conditions. Share insights on property values, neighborhood development, and any legislative changes that might impact their investment. By staying informed, they can make informed decisions about potential future real estate endeavors.By prioritizing these areas, you can demonstrate your commitment to your success as homeowners. This proactive approach will not only build trust but also position you as their go-to resource for all their real estate needs. Remember, happy and well-informed homeowners are likely to refer you to their friends and family, expanding your network and future business opportunities.

Tips To Minimize Closing Costs In NC

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When purchasing a home, one of the largest expenses you will incur is closing costs. Closing costs can range from 2-5% of the loan amount and are paid at closing. There are ways to reduce these costs, and this article will outline some tips to help you minimize closing costs when buying a home in North Carolina.Who Pays Closing Costs In NC?Most people in North Carolina who are buying or selling a home will have to pay closing costs. These costs can vary depending on the location of the home, but they often include things like the mortgage, origination fees, and title insurance. In most cases, the buyer pays closing costs. However, in some situations the seller may be responsible for them. How To Calculate Closing Costs In NC?There's no one definitive answer to this question. It'll depend on the specific circumstances of your particular purchase. They can vary depending on the size of the home, what type of mortgage is being used, and the location. However, there are some general guidelines that can help you figure out what you'll need to pay. What Are Typical Closing Costs For Buyers In NC?Below are three examples of typical closing costs for buyers in North Carolina. However, these figures will vary depending on the location and size of the house being bought.-Mortgage: This can include the down payment, interest rates, and any other associated fees.-Origination Fees: These are fees paid to the bank or mortgage company that helps get your loan approved.-Title Insurance: This protects the seller against any potential claims stemming from a purchase.In addition to these general costs, you may also need to pay taxes on your purchase. This will vary depending on the property's location, size, and value. What Is Included In Closing Costs?It can be tricky to figure out exactly what you'll need to pay in order to close on a property. That's because there are a lot of different fees and expenses that can come into play. However, some of the most common items include:-Private Mortgage Insurance: This protects the lender in case you don't make your mortgage payments.-Real Estate Tax: This is a fee charged by the government for property taxes.-Attorney Fees: This is especially common if there are any disputes or negotiations related to the purchase.Understanding Loan Estimates and Title Insurance  When purchasing a home in North Carolina, two critical components that demand your attention are the Loan Estimate and title insurance. A Loan Estimate is a three-page document you receive after applying for a mortgage. It's not just an informative piece; it's a crucial tool for comparing offers from different lenders, ensuring you secure the best deal possible. This document outlines the loan terms, projected payments, and closing costs, providing a comprehensive overview of what to expect financially. So,before deciding on a mortgage, always request a Loan Estimate from potential lenders to compare and understand the closing costs involved. On the other hand, title insurance serves as a protective shield, safeguarding you against potential future disputes over the property's ownership. It's a one-time purchase that covers you for as long as you own the home, offering peace of mind against claims or legal fees that could arise from undiscovered liens or discrepancies in the property's history.  Investing in title insurance can safeguard you against any future legal issues regarding your property's title. How Much Does It Cost To Close On A Property?The total cost of closing can vary quite a bit depending on the property and the specific situation. However, you can expect to pay around 3% of the property's sale price as closing costs. This can be a lot of money, so it's important to have realistic expectations.There are a few other things to keep in mind when it comes to closing costs. For example, you may be able to reduce the cost of these items by working with a local broker. And, if you're buying a property in a high-demand area, be prepared to pay more for your closing costs. More tips to help you minimize your closing costs:-Shop Around for The Best Deals: Don't just rely on the mortgage rate you're offered by the mortgage broker. Compare different offers and find the home loan that's best for you. Try to find a lower rate below the national average.  -Get Pre-Approval on a Loan Application: Many credit unions offer pre-approval services, which can save you money on your closing costs.-Negotiate For Less: Don't be afraid to negotiate on your closing costs. If you can get them lowered, do it! This will save you a lot of money in the long run.-Be Prepared for Contingencies: If something unexpected comes up, be prepared to cover it. This could include things like a property inspection that wasn't included in the seller's listing, or a government tax bill that you weren't expecting.Remember, it's important to have realistic expectations when it comes to closing costs. And, by following these tips, you can save money on your overall purchase process.Closing costs can be aggravating to home buyers and sellers. They do add to the total overall cost, which is why so many people want to know who pays closing costs in North Carolina?Leveraging Local Programs and Negotiation Strategies  For homebuyers in North Carolina, the NC Home Advantage Mortgage program emerges as a beacon of hope, offering down payment assistance and closing cost support. This initiative is especially beneficial for first-time and move-up buyers, underscoring the importance of exploring local government assistance programs that can alleviate the financial burden of closing costs. Keep in mind that negotiation plays a pivotal role in the realm of real estate transactions. Whether it's negotiating the price with the seller or discussing fees with your lender, a proactive approach can lead to substantial savings. For instance, asking the seller to contribute towards closing costs or negotiating a simultaneous issue policy for title insurance can significantly reduce your out-of-pocket expenses. Remember, every element of the closing costs is potentially negotiable, so don't hesitate to advocate for better terms. Real Estate Closing Cost Terminology1: Seller Closing CostsThe Seller will typically incur closing costs in the form of a lawyer, title insurance, and any applicable registration fees. These seller closing costs can vary greatly based on the type of sale and location, but are generally a best estimate of 2% - 3% of the sale price.2: Buyer Closing CostsWhen purchasing a home, there are typically several costs that need to be paid in order to complete the sale. These costs can vary depending on the location of the home and the type of sale being made, but they often include things like title fees, recording fees, and escrow fees. It’s important to keep these costs in mind when shopping for a home, as they can add up quickly. For example, Title insurance can typically cost around $250-$300 per policy, recording fees can range from $100-$250 per inspection, and Escrow fees can run anywhere from $125-$500.  Of course, these costs are only a partial list - there are many other expenses that could come up during the closing process. If you have any questions about these or any other closing costs in your area, don’t hesitate to reach out to a qualified real estate agent at Breezy Real Estate. We will be able to provide you with an overview of what’s involved, the entire process and help you decide which route is best for you.3: The Title CompanyIn North Carolina, the Title Company is responsible for handling all of the closing costs associated with a home purchase. Title companies includes things like attorney fees, notarization fees, and title insurance premiums. These costs can amount to a significant portion of the total price of a home, so it's important to have them handled by an experienced company like a Title Company.4: The Mortgage BankerMortgage bankers typically charge a closing cost, which can include title fees, abstract fees, an application fee and recording fees. These charges can amount to a significant amount of money, so it important to be aware of them before agreeing to close on a home. 5: Are Attorney Fees included in closing costs?Closing Costs are not always the same. Just because one real estate company charges a certain amount in closing costs, doesn't mean that another company will charge the same amount. Typically they include closing attorney fees and other related expenses such as title insurance and escrow fees. It is important to consult with a lender or real estate agent who specializes in home purchases to get an accurate estimate of what you will need to pay.6: Escrow Service FeesIn North Carolina, escrow service fees are typically not included in closing costs. This is because North Carolina law requires that all escrow fees be paid by the seller, not the buyer. Setting up an escrow account can help manage property taxes and insurance payments efficiently. 7: Notary FeesIn North Carolina, notary fees are typically included in the closing costs. This means that the total cost of closing will be higher if notary services are required.8: Survey CostsOne common cost associated with closing a real estate transaction is a survey. A survey can identify any potential pitfalls or issues with the property before it is actually bought or sold.   Depending on the size and complexity of the survey, it can cost anywhere from $200 to $5,000. If you're planning on buying a property in NC, be sure to budget for this cost so you don't end up spending an additional sum later on down the line.The SurveyorA surveyor is often hired to prepare an accurate survey of the property being purchased. This information is used in the preparation of a final plat – which is a legal document that establishes the boundaries of the property – and can cost thousands of dollars. If you're planning on buying a property in North Carolina, make sure to hire a professional surveyor. 9: Appraisal CostsAppraisal costs are typically a part of closing costs in North Carolina. These costs can include an appraisal fee of the property, such as a real estate agent's fee or an appraiser's fee.10: Mortgage Points: Understanding how mortgage points work can help you decide if paying for them upfront is a cost-effective strategy for reducing your interest rate.11: Flat-Fee MLS Listing Service: Sellers can save on realtor commissions by opting for a flat-fee MLS listing service, significantly reducing closing costs.  12: Various Closing Costs to be aware of in NCWhen buying or selling a home, there are many costs that can come with the transaction. Additional fees such as title fees, inspection costs, flood certification fees, credit report fees and a recording fee can sneak into the calculation. Here are some other closing costs to be aware of in NC: - Home insurance: Many homeowners elect to purchase home insurance in addition to their mortgage company. This coverage will help protect your property in the event of a fire, flood, or other hazard. - Tax preparation: If you have not done your own taxes in years, now is a good time to get help from a professional. The cost of tax preparation can vary depending on the size and complexity of your return. - Home warranty: An important consideration for any homebuyer is whether or not they want to include a home warranty into their purchase agreement. A warranty will protect you from major repairs that may happen after you move in, such as water damage or faulty wiring.Final Thoughts and RecommendationsThere are many different ways to minimize closing costs on a home sale. By knowing the steps above, you can save thousands of dollars on your next single-family home purchase.When you are buying or selling a property, there are many costs associated with the transaction, such as real estate commissions, attorney fees, and other closing costs. Some of these costs may be included in the price of the property itself, while others may require additional payment. It's important to understand what these costs are and to budget for them accordingly. The InspectionIt's important to have your home inspected prior to closing in order to make sure there are no hidden problems. This can include things like roofing issues, broken pipes, and structural problems. In some cases, it may be necessary to have an expert come in and inspect the property so consider the home inspector and his or her inspection fees.Home inspectors are experts at finding problems with a property before it's even sold – which can save you money down the road. They'll also inspect things like roofing, plumbing, and electrical systems to make sure they're in good condition. Having an inspector check out your prospective home before you buy it is definitely worth your money.The Escrow AccountAn escrow account is a valuable resource during the closing process. It allows you to pay for any final expenses, such as taxes and inspections, without having to dip into your own bank account. This can help to keep your purchase costs down.Protecting Your Interests During the Closing ProcessMake sure you have a written agreement governing all aspects of the closing process - this will protect both you and your mortgage lenders in case of any unforeseen circumstances. The Homeowner's Title Insurance PolicyTitle insurance is a crucial part of any home purchase - it covers your interest in the property should something happen to the seller during the closing process. Make sure you have adequate coverage, as claims can cost hundreds of dollars per policy. Get Your Tax Documents in OrderYou'll need to submit your federal and state tax returns, as well as any applicable documentation of your finances. This can include bank statements, pay stubs, property taxes and property records. And remember their will be tax service fees.Get a Home WarrantyA home warranty will protect you against any unforeseen problems with the home - such as water damage or faulty appliances.Start Preparing EarlyClosing on a home is an important step in your life - make sure you're prepared for the process by gathering all the necessary documents and preparing your finances in advance.*Breezy Raleigh will provide expertise and guidance throughout the home buying process. We will also prioritize your interests and ensure that you're making an informed decision.

Moving Tips and Hacks to Reduce Stress and to Get Organized 

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Moving to a new home is an exciting adventure, but the process of getting there can often be overwhelming and stressful. From packing up your belongings to coordinating logistics, there's no denying that moving requires careful planning and organization. However, with the right strategies in place, you can minimize stress and make your move a smoother experience. In this article, we'll discuss practical moving tips to help you reduce stress and get organized for your upcoming move.Create a Moving ChecklistOne of the most effective ways to stay organized during a move is to create a comprehensive moving checklist. Start by listing all the tasks you need to complete before, during, and after the move. Break down larger tasks into smaller, manageable steps. By having a clear roadmap, you'll be able to track your progress and ensure that no important tasks slip through the cracks. Declutter and DownsizeWhen you move, it's a great chance to simplify your life by decluttering your possessions and letting go of anything that no longer serves a purpose or brings you joy. Take the time to sort through your items and decide what to keep, donate, sell, or discard. Not only will this help you reduce the number of things you have to pack and move, but it will also create a fresh start in your new home. *According to a survey conducted by SpareFoot, an estimated 60% of people reported feeling less stressed after decluttering their homes.Set a Packing SchedulePacking can be a time-consuming task, so it's important to start early and set a packing schedule. Begin by packing non-essential items that you won't need until after the move. Gradually work your way towards packing the essentials, leaving only the necessities for the final days leading up to the move. Remember to label each box with its contents and the room it belongs to for easy unpacking. Gather Moving SuppliesTo avoid unnecessary stress, make sure you have all the necessary moving supplies before you begin packing. Stock up on sturdy boxes in various sizes, packing tape, bubble wrap, markers, and labels. Having these supplies readily available will ensure that you can efficiently pack and protect your belongings.Notify Important PartiesBefore your move, it's essential to notify important parties about your change of address. Inform your utility companies, insurance providers, banks, and any subscriptions or services about your upcoming move. Update your address with the post office to forward your mail and inform friends and family of your new contact details.Seek Professional HelpConsider hiring professional movers to handle the logistics of your move. They have the expertise and experience to ensure a smooth transition and can alleviate much of the physical and mental stress associated with moving. Obtain multiple quotes, read reviews, and choose a reputable moving company that fits your budget and requirements. Take Care of YourselfAmidst the chaos of moving, it's crucial to prioritize self-care. Make time for activities that help you relax and rejuvenate, such as exercise, meditation, or spending time with loved ones. Taking care of your physical and mental well-being will help you stay focused, reduce stress, and approach the moving process with a clearer mind. Final Thoughts Moving doesn't have to be an anxiety-inducing experience. By implementing these tips, you can reduce stress, stay organized, and make your move a smoother and more enjoyable process. From creating a moving checklist to decluttering, setting a packing schedule, and seeking professional help, each step plays a vital role in ensuring a successful move. Remember to take care of yourself along the way and embrace the excitement of starting a new chapter in your life. Happy moving!

From City to Suburb: How to Choose the Perfect Raleigh Neighborhood for Your Family

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Moving from the city to the suburbs can be a big decision for families. Choosing the right Raleigh neighborhood can make all the difference in how well your family adjusts to suburban life. From schools to parks to shopping, there are many factors to consider. In this article, we’ll explore how to choose the perfect Raleigh neighborhood for your family.Consider Your NeedsBefore you begin your search, take the time to identify your family’s needs. What are your priorities when it comes to a neighborhood? Do you need a great school system, a short commute to work, or access to outdoor activities? By identifying your needs upfront, you can focus your search on neighborhoods that meet your requirements. SchoolsIf you have school-aged children, one of your top priorities will likely be finding a neighborhood with a great school system. Raleigh has some excellent public schools, as well as many private school options. Consider the school district when choosing a neighborhood and be sure to research individual schools to find the best fit for your child.For example, the Wake County Public School System is the largest in North Carolina and includes many highly rated schools in the Raleigh area. The district also offers magnet and charter schools that may be a good fit for your child’s interests or learning style.CommuteIf you work in downtown Raleigh or another nearby city, you’ll want to consider commute times when choosing a neighborhood. Raleigh is known for its traffic, so living close to work can make a big difference in your quality of life.For example, if you work in downtown Raleigh, you may want to consider neighborhoods like Cary or Morrisville, which are located just a short drive from the city center. Both of these areas have easy access to major highways and offer a variety of housing options. Parks and RecreationIf you enjoy spending time outdoors, you’ll want to choose a neighborhood with easy access to parks and recreational activities. Raleigh has an abundance of green spaces, including many parks, nature preserves, and greenways.For example, the Umstead State Park is a popular destination for outdoor enthusiasts in the Raleigh area. The park features over 5,500 acres of hiking and biking trails, as well as campsites and picnic areas.Shopping and DiningIf you’re used to the convenience of city living, you’ll want to find a neighborhood with easy access to shopping and dining options. Raleigh has many great shopping centers and restaurants, but not all neighborhoods offer the same level of convenience.For example, North Hills is a popular shopping and dining destination in Raleigh, with over 100 shops and restaurants located in one convenient location. If you choose a neighborhood near North Hills, you’ll have easy access to all the amenities this shopping center has to offer. Crime RatesSafety is always a concern when choosing a new neighborhood. While Raleigh is generally a safe city, crime rates can vary by neighborhood. It’s important to research crime rates in any area you’re considering to ensure that you and your family will feel safe in your new home.For example, neighborhoods like Brier Creek and Wakefield are known for their low crime rates and high safety ratings. These areas offer a variety of housing options and easy access to shopping and dining.Get to Know the NeighborhoodOnce you’ve identified a few neighborhoods that meet your needs, it’s time to get to know them better. Spend some time exploring each area and getting a feel for the community. Attend local events, talk to neighbors, and visit local businesses to get a sense of what it’s like to live in each neighborhood.For example, many Raleigh neighborhoods host community events throughout the year, like festivals, block parties, and farmers markets. Attending these events can be a great way to meet your neighbors and get involved in the community. If you’re having trouble narrowing down your options or need some guidance, it’s always a good idea to talk to a local real estate agent. A knowledgeable agent can provide valuable insights into different neighborhoods and help you find the perfect home for your family.For example, a Breezy Real Estate agent can provide you with in-depth knowledge about the Raleigh housing market, school districts, and local amenities. They can also help you navigate the buying process and negotiate the best deal for your new home.Talk to a Breezy Raleigh Agent (919) 752-4321.   In conclusion, choosing the perfect Raleigh area neighborhood for your family requires careful consideration of your needs and priorities. By identifying your must-haves upfront, researching different neighborhoods, and getting to know the community, you can find a neighborhood that feels like home. By seeking assistance from an experienced real estate agent in Raleigh, you can discover your dream home in a desirable neighborhood. Then you can start enjoying all that Raleigh has to offer!

Prospective Homeowners: Be Aware of Hidden Costs to Buy a Home!

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If you are about to buy a home, then you should know about the hidden costs associated with the purchase. These costs can range from closing fees, to moving costs, to appraisal fees. In addition to these costs, there are other factors that you should be aware of.Appraisal FeesMost lenders require a home appraisal before issuing loans. These appraisals help ensure that the price of a home is not more than it is worth. The appraisal is beneficial for both the buyer and the seller.An appraiser will take measurements and photos of the interior of the home. They will also check the exterior of the home for the materials used. Their main concern is to determine the property's value. Appraisal fees vary depending on the size and location of the home. For example, a luxury waterfront house in a remote location will cost more than a simple one-story home in a suburban neighborhood. A large plot of land will also cost more.The appraisal is usually paid by the buyer. However, the seller may pay the fee. Some government refinance programs don't require an appraisal.Home appraisals are a crucial step in the buying and selling process. Seller’s benefit from an accurate appraisal, which allows them to receive a fair price for their home. It helps them compete with other sellers. Buyers will also benefit from an accurate appraisal, which allows them not to pay more than their home is worth.  An appraiser will review the home's layout, square footage, and age. They will also look at features like cabinets and closets. While not all homes need an appraisal, some are more complex.An appraisal will help the buyer, seller, and lender in their transactions. Appraisals are necessary to protect the lender's assets and to make sure the buyers don't overpay for a home.When the loan is approved, the home will serve as collateral. If the borrower stops making payments, the lender has the right to seize the property. Home InspectionIf you're buying a house, there are many hidden costs to consider. The best way to minimize your budget is to be prepared. These include a mortgage payment, down payment, and inspections.A home inspector can find hidden problems you may not have noticed. This could save you a lot of money! Home inspectors will check your home's heating and cooling systems, roof, plumbing, and more. Usually, the average cost is between $300 and $600, depending on the property. More extensive inspections may cost more, up to around $1,000 or more.Home inspectors can help you find the biggest flaws in the home you want to buy. These can range from a faulty furnace to a leaky roof. While your inspector isn't required to be an expert in all areas, a seasoned inspector will have a good idea of what is wrong and will make recommendations for a solution.Another cost is your taxes. Most states charge a small fee to verify the tax payments of the home you are purchasing. Your realtor or lender can help you determine what you should budget for. This includes an appraisal of the home's value. Getting a termite inspection can reveal hidden damage to your home. Termite infestations are common in the South and Southwest. Depending on the location of the home, you might need flood insurance.Another expense to consider is a new oven. If your oven is old, it might not get hot enough to cook 350 degrees. Also, your fuse box may have a fire hazard. Buying a home is expensive, so make sure you know the details before you sign a contract. There are many hidden costs that can have a big impact on your wallet.Earnest Money DepositWhat is the earnest money deposit? One of the hidden costs of buying a home is the earnest money deposit. This is usually a small percentage of the purchase price, 1% to 3%. Typically, the earnest money is held in escrow until the purchase closes. It is a way to show a seller that the buyer is serious about the offer.Earnest money can be a refundable deposit, or it can be used by the buyer to cover closing costs. The amount varies depending on the buyer's financing and the competition for the house. If there is a lot of competition, a low earnest money deposit can increase the odds of the buyer receiving a counteroffer.Earnest money can be a substantial amount, especially in hot real estate markets. However, it is important to note that it is a one-time payment that will not increase the seller's profit.Most escrow companies handle refunds quickly. In Texas, for example, the earnest money must be disbursed within three business days of the contract signing. The details of a refund are outlined in the Residential Purchase Agreement. Although an earnest money deposit can be an attractive tactic, it is important to read the contract carefully before committing to a home. If the house does not pass inspection, you may not get your money back. Before making an offer, discuss your contingencies with your real estate agent.Usually, the earnest money is refunded if the purchase does not close. Depending on the escrow company, you can expect a refund within a week.If you are a first-time homebuyer, you might not realize that you will need to spend money on things like property taxes. Besides, the home you want may need repairs.Closing CostsClosing costs when buying a home can be a shock. These expenses cover a wide range of services, from attorney fees to recording fees. But understanding how to budget for closing costs can help you avoid unexpected financial headaches.Buyers usually pay up to 3% of the purchase price in closing costs. This includes lender and appraisal fees, prepaid insurance, inspections, title insurance, and more.While a good number of closing costs are one-time fees, others will be recurring. Borrowers can shop around for lower fees, and some states offer low-interest loan programs. Some counties also offer grants to help pay for closing costs.Sellers typically pay about 8% to 10% of the sale price in closing costs. Seller concessions, also known as seller credits, are often offered. However, they are not paid directly to the buyer.If you are a first-time homebuyer, you may need to make a down payment. The average down payment on a single-family home in 2022 was about 10%. (NAR)Buyers should also budget for additional costs. There are many costs, including land survey, owner's title insurance, and taxes. A buyer can also pay for a home inspector, who can check the property for any issues. You may be able to get a lower interest rate if you pay points, or prepayments, at the time of sale. This can reduce the amount you owe at closing and save you money in the long run.The cost of owner's title insurance policies varies depending on the size of the home. Lenders require a title search to ensure the property is free of liens.Homebuyers may also be able to reduce their closing costs by scheduling their closing at the end of the month. Escrow companies hold funds during the transaction and disperse them to the correct parties at closing.Moving CostsMoving costs vary greatly and aren't always predictable. They can also change based on the type of move and the situation.Luckily, you can do your part to make your moving experience easier and more affordable. There are plenty of ways to save money, from using a truck rental to renting storage units. Taking a few steps in advance can help you avoid the most expensive pitfalls.The most obvious moving cost is hiring movers. Hiring a professional mover can cost anywhere from a few hundred dollars to more than a couple of thousand. Fortunately, many companies offer a flat rate for moves. However, you may have to pay extra if you have large or heavy items. Another expense is moving supplies. Whether you're using a truck or a portable storage unit, you'll have to pay for fuel, fuel charges, and tolls. Also, if you're moving long-distance, you'll need to buy toiletries and pantry staples.You might need a portable storage unit. The cost of a portable storage unit will depend on several factors, including size, rental duration, and location. Generally, the larger the unit, the more expensive it will be. Also, if you need to rent for a longer amount of time, that can also increase the cost. Finally, depending on where you live and the availability of units in your area, prices will vary.Another thing you can do to reduce your moving costs is to pack things yourself. You'll want to make a list of all the moving supplies you'll need. One of the most important things to consider when planning a move is how long it will take to complete. Ideally, you'll want to plan a move that's within one month of your new home's move-in date. This way, you won't be stuck storing everything for a week, two weeks, or more. We hope you found this helpful.

Red Flags When House Hunting

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Buying a house is an exciting milestone to reach, but it can also be overwhelming. If you're looking for a house in North Carolina, it's important to look out for red flags that can be easy to miss if you're not aware of them. Knowing what to pay attention to when house hunting will help make sure you don't overlook any problems with the potential property that could cost you more money and time in the long run. Signs of a Failing Septic System One of the most common signs of a failing septic system is a sewage backup. Sewage from drains and toilets backs up into the home, causing it to smell foul. The odor is not the only sign, though. There are other symptoms, such as slow drains. If you're looking to buy a property with a septic system, take the time to walk around the site and look for any warning signs. In particular, you should look for any areas that smell of sewage or that have wetter grounds than the surrounding grounds. Also, avoid walking into any sinkholes or seepage areas. If you find any of these signs, you'll be able to determine whether the system is failing or not.If you're looking to buy a home with a septic system, you should ask the seller about the history of the system. If it's been installed by a small, inexperienced company, you should be wary of the company. While it might be cheaper to hire an inexperienced company, it can result in an unreliable system. SmellsIf you're house hunting, you might notice something wrong with the house if it has a bad smell. A strong air freshener or fragrance can hide a problem, but if the house has a musty odor or mold under the sink, it's a red flag to reconsider your decision. A strong odor can be a sign of water damage or mold, both of which can be expensive problems.Taking your sense of smell with you on house tours is a powerful way to evaluate a home. Odors can indicate water damage, mold, pests, or other issues. If you notice a strange odor, ask your realtor about it. Often, the realtor will let you know if the smell is caused by water damage or a plumbing issue.If you find a house with a bad smell, follow your nose to where the odor comes from. If the smell comes from a pipe, it might mean that there are problems with the house's plumbing or HVAC. Similarly, if the house smells strongly of mold, you should immediately get a professional inspection. It may be a sign of water damage or rotting food. Electrical System Issues Electrical system issues are a common problem that can go undetected by home buyers. During a home inspection, it is important to check outlets and appliances. Flickering lights or no outlets at all can be signs of a larger problem. Additionally, improper wiring can be a major headache to repair. If you notice any of these issues, consider hiring a professional to address them. An electrical system repair company can give you helpful information about the different types of electrical problems, including their causes and solutions. For example, you can contact the Family Handyman to learn more about common electrical problems. You can also check the house's insulation, caulking, and ventilation. Make sure the house has enough insulation, and you should avoid properties with poor insulation. Also, check for rotten wood on structures. If any of these issues are present, you can negotiate the price.Pest Infestations While house hunting, you may want to look for signs of pest infestations. During a walkthrough, ask the property's agent whether pests have been treated. You can also request a copy of the most recent building inspection report. If you see signs of infestations, you have a legitimate reason to demand that the landlord make repairs. Pests can leave a strong odor. Whether you smell a roach's droppings, bedbug droppings, or possum urine, you'll know if there's a problem. Besides smell, you can also look for other signs, like holes, gnawed wood, or bitten-up wiring.Roaches and mice often leave behind holes and burrows, which may indicate that the property is infested. Mice and rats can squeeze through a one-inch-wide hole, so you should be careful of any such areas. Rats can also chew through electrical wires.Pests can do thousands of dollars in damage. Examples of other pests you should look for include carpenter ants, termites, and powder post beetles. If you’re serious about a particular home, have a professional pest control company inspect it first.Ok, so that was four of the biggest red flags but we have more on the list presented below. Please review it so you are better prepared when touring properties that have the potential to become yours. Water Damage:  Water stains on walls, ceilings or floors can indicate a problem with the plumbing or roof. Also, if there is a musty smell or mold present, it could be a sign of water damage or poor ventilation. If windows and doors are sticking shut or don’t open and close properly, this could be a sign of warping due to moisture buildup. Foundation Issues:  Cracks in the foundation, sloping floors or uneven surfaces could be indicative of foundation issues, which can be very costly to repair.Electrical Problems:  Outdated or unsafe electrical systems can be a fire hazard, so look out for exposed wires, outdated outlets or switches, or frequently tripping circuit breakers. Structural Damage:  Any visible damage to the structure of the home, such as sagging ceilings or walls, could indicate that the home is not structurally sound. Pests:  Look for signs of pests such as rodents or insects, which can cause health problems and damage to the home.Location:  A home located near a busy road, commercial property, or in a high-crime area may negatively impact your quality of life and future resale value. Age of the Roof:  The age and condition of the roof are important factors to consider as a new roof can be a significant expense.Renovations without Permits: If the homeowner has made renovations without proper permits, it could be a red flag that the work was not done to code. Poor Maintenance: If the house has obvious signs of neglect or poor maintenance, such as cracked walls, leaky pipes, or broken fixtures, it could be an easy to spot red flag for potential future problems.Neighborhood:  Take a look at the overall condition of the neighborhood and make sure it is a good fit for your lifestyle and needs.We hope this article was helpful. If we can be of assistance in your eastern North Carolina Real Estate journey, please fell free to call or text us.  919-752-4321 or visit BreezyRaleigh.com

Save Time and Money: Don't Go It Alone on Your House Hunt!

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Buying a house is one of the biggest financial decisions you'll make. It can be stressful and complex, so having an expert by your side is always wise. You may be tempted to buy a home without the assistance of a Realtor in order to save money, but doing so could actually end up costing you much more. Consider these three things before house hunting without a Realtor on your side:You’ll Have to Do Your Own ResearchBuying a home can be an intimidating experience, particularly for first-time buyers. A realtor is invaluable in helping you understand the real estate market by answering your questions and providing helpful guidance. A reliable realtor is knowledgeable about the housing market, including recent sales and current asking prices. They can assist you in determining whether a seller's asking price is too high or low.They can explain the legalese in a housing contract and guide you through any contract contingencies, like inspections or appraisals. Furthermore, they can connect you with lenders who will give you preapproval letters before beginning house hunting so that you don't waste time looking at homes that exceed your budget.Making the decision to purchase a home without the help of a Realtor can be intimidating, but it's possible. In certain circumstances, going it alone may make sense - particularly if you know the area well and possess superior negotiation abilities.You’ll Have to Negotiate on Your OwnPurchasing a home can be an emotional and technical endeavor. There are countless questions that must be answered with precision before the deal closes. Many people opt to work with a real estate agent because of their expert market knowledge and negotiation experience. If you're thinking about negotiating a home price on your own, be prepared for a long and difficult process. It's not impossible to do, but it's definitely not easy. Having a Realtor on your side can save you money in the long run. They understand the local market and can assist in evaluating a seller's price against recent sales in your vicinity.There can be disadvantages to negotiating on your own without the assistance of a Realtor. For one thing, it may be difficult to accurately gauge how much wiggle room you have during negotiations.You’ll Have to Deal with Seller’s AgentsPurchasing a home is one of the most significant financial transactions you'll ever make. Whether you're buying or selling, having an expert by your side who can guide you through each step and answer any queries is invaluable.A buyer's agent can answer your most pressing queries and even arrange tours of houses that appeal to you. Furthermore, they offer valuable insight into neighborhoods, schools and taxes in the area you are considering moving to.Seller's agents can be invaluable when it comes to negotiating the price of a home, as they can identify repairs that might be needed and suggest which ones don't need doing in order to sell for top dollar. Furthermore, they assist you in establishing a fair market value by comparing your property with others that have sold nearby and learning what other buyers paid for similar houses. You Are Really by Yourself in All AspectsDo you really want to do this on your own? If you're in the market for your first home, the process can seem intimidating. You may worry about finding the ideal property, finding a great mortgage rate or making an offer that will be accepted. But don't despair - it doesn't have to be this hard!The primary disadvantage to House Hunting Without a Realtor is that you won't receive any guidance or support throughout the entire process. Rather, you must do all of the legwork yourself - researching areas and listing your property, reaching out to potential buyers, and completing paperwork.Thankfully, there are a few steps you can take to simplify the process. Start by making a comprehensive list of essentials and nice-to-haves. It's also helpful to set up an appointment with a real estate agent before you begin looking at homes.When you're looking at houses online, you may fall in love with a few that check off all of your criteria. But you won't know if they are the right ones for you unless you see them in person.Conclusion House hunting without a realtor is not recommended. The process can be overwhelming, and the support of a real estate professional can make it easier. A realtor will help you find the right home and negotiate the best price for you. Also, they are knowledgeable about local market trends and regulations, providing insight that would otherwise go unnoticed. Lastly, realtors are invested in your success and will work hard to help you find the perfect home for you and your family.

Going through the Transition to First-Time Homeowner from Rent Paying Tenant

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Making the transition from renter to first-time homeowner can be a big lifestyle change. But before you do, make sure you're financially prepared for this life-changing step.Homeownership costs can include upfront fees, like an appraisal and earnest money, as well as ongoing maintenance expenses. You'll also need to build up a savings account for unexpected repair bills.Begin the Planning Process Early Buying your first home is an exciting time, but it’s also a big decision with lots of moving parts. There are a wide variety of factors to consider, from mortgage loans to real estate fees and closing costs.  One way to reduce your home-buying stress is to begin the planning process early. This will allow you to make the most of your resources and keep your finger on the pulse of your local market. There are many programs available to help first-time homebuyers, from government subsidies to low-down-payment options and tax credits. To find the best program for you, check with your real estate agent or your state housing authority.The best first-time home buyer programs have a streamlined application process and a clear-cut timeline. They will also provide you with a wealth of information about local housing markets and the latest trends in mortgage lending.In short, there are a multitude of programs out there to choose from, but the most impressive ones are the ones that offer the most value. The best home-buying program for you depends on several factors, including your budget and where you plan to live. In the end, you should have no trouble finding a home that meets your needs and exceeds your expectations. Taking the time to learn all about your options will ensure that you have a successful and satisfying home-buying experience. It’s an important milestone in your life and one that will be a source of pride for years to come.Look into First-Time Homebuyer Programs There are a number of programs available that help first-time homebuyers get over the financial hurdles of purchasing their first property. They can include down payment assistance, mortgage rate reductions, and tax credits.  Some of these programs are operated by the federal government, while others are offered through state governments or nonprofit organizations. Check with your local lender or real estate agent to find out about all the available first-time homebuyer programs in your area. * Fannie Mae and Freddie Mac offer first-time homebuyer mortgages with down payments as low as 3 percent. These mortgages are designed specifically for first-time buyers, and they have special criteria that may include a lower credit score or higher income limits.Another option is to buy a foreclosed home with Fannie Mae’s HomePath Ready Buyer program. The program requires first-time buyers to complete an online homebuyer education course and then purchase a Fannie Mae-owned foreclosed property, called a HomePath home.While the HomePath mortgage is not for everyone, it can help those who are looking to buy a property that needs work but is still affordable. The mortgage is backed by the Federal Housing Administration, which will insure the loan for the life of the home.The USDA Rural Development Guaranteed Housing Loan Program is also a great option for first-time homebuyers, since it offers zero down payment loans to eligible rural and suburban homes. However, these loans do have some restrictions and can be difficult to qualify for.If you’re a military veteran or belong to another select group, you can also buy a home with the assistance of a VA loan. This type of loan is available to service members and their spouses, and it comes with benefits like no down payment or mortgage insurance.Find an Experienced Loan Officer Who Can Help You One of the most important steps in purchasing a home is finding an experienced loan officer who can help you navigate the mortgage process. Not only will they provide you with information about the best mortgage programs, but they can also assist you in preparing your financial documents and paperwork.  The loan officer you choose will make a big impact on your mortgage experience and the outcome of your transaction. They will be your point of contact throughout the entire process, from assisting you with application to helping you with closing on your new home.A good loan officer will take the time to get to know you and your needs, as well as your goals for buying a house. They should be able to explain every aspect of the mortgage process, from how to pay points up front to what closing costs might be involved. They should also be able to explain how interest rates work and any fees that might apply to you. If you haven’t done so yet, consider obtaining pre-approval for your mortgage. This will allow you to shop for your ideal house while ensuring that you can afford it.You can find a qualified mortgage loan officer by using a search engine to look for one in your area, or by asking friends and family for referrals. You can also contact us and we can refer you to several reputable lenders in the area.When you have found a suitable mortgage loan officer, they will review your credit and income history to determine whether you qualify for a loan. This will include your credit score, annual salary and debt-to-income ratio.Your loan officer will then work with you to find a mortgage that fits your needs and budget. This could be a traditional conventional mortgage, a jumbo loan or even a refinance.They will be able to provide you with a variety of mortgage options, including FHA loans with low down payments and other government loan programs. They will also be able to assist you in determining how much your mortgage will cost, as well as how many monthly payments you can afford.Work with Breezy Real Estate to Choose the House The transition from renter to first-time homeowner is not always an easy one. Unlike apartments where you have a landlord who takes care of most things, owning a house requires your own personal touch and resources. The good news is that you can make this transition with the help of a reputable real estate agent.   BreezyRaleigh.com can help you find a house anywhere in and outside of Raleigh, NC. We are here for you. We currently have access to over 2,000 listings throughout the general Raleigh and Durham areas. The most important step is to select an expert real estate agent who understands the intricacies of the local market and can guide you through the entire buying process. A good real estate agent can help you choose a home and navigate the financing side of the equation will save you time, energy and headaches in the long run. The best real estate agents are knowledgeable, attentive to their clients' needs and have a strong work ethic. That’s Breezy Real Estate. We are here for you. BreezyRaleigh.com

5 Reasons Why Buying a Home May Make More Sense Than Renting

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When considering whether or not to purchase a home, many factors come into play. However, there are several reasons why owning your own property might be more advantageous than renting.Owning a home is an important financial commitment. Although getting approved for a mortgage and making the down payment may seem daunting, the rewards of homeownership far outweigh these costs.Pride of OwnershipOne of the advantages of owning your own home is pride of ownership. Pride of ownership is an emotional attachment that people have to the things they own. It is the feeling of satisfaction and joy that comes with owning something like a house. Pride of ownership can be seen in so many different ways when you own a home. People will take extra care of their property because they are proud to own it want to show it off to others. When you put more effort into maintaining your home and property such as making improvements, you are taking pride in your ownership. It is very satisfying! This isn't the only motivation for purchasing a home. Prior to making a decision, it's wise to consider your long-term objectives, career and personal preferences. For instance, if setting down roots is important to you then buying may be the better option; on the other hand, renting could be more economical in the long run. To decide the best course of action for your individual situation, do some research first by checking out mortgage rates and local rent prices. It might even be beneficial to consult a financial expert for guidance on which move is best suited for you.Financial StabilityBy purchasing a home, you are building equity - an amount of cash worth that can be used for paying off your mortgage and other investments. Furthermore, renting has lower interest rates than buying a property, meaning you save money over time.Owning a home can give you financial stability in several ways. First, it can provide you with a fixed monthly payment that is more predictable than rent payments. Also, your mortgage payments may be tax deductible, allowing you to save money on taxes. Finally, when you own a home, its value typically increases over time, which can provide you with a valuable asset to use for future investments or retirement savings.Being a home owner can help create financial stability by providing a fixed monthly payment and potential tax savings, as well as an appreciating asset for future use. Careful consideration of the costs associated with homeownership is important to ensure that it does not become any type of  financial burden.   Financial SecurityHomeownership can be an excellent way to enhance your financial security. By taking proactive steps such as creating a budget and saving more than you spend, you can make progress towards reaching your long-term objectives.Owning a home is more likely to increase your net worth in the long run, as you're building equity in your property during the course of your mortgage. This could come in handy during retirement or should you choose to cash out some of that equity at some point down the line.The great news is that you can enjoy all these advantages with a much lower upfront cost than paying rent, due to historically low mortgage rates. To determine if buying is the right move for you, contact an Ameriprise financial advisor for a complimentary consultation.FlexibilityThe flexibility afforded to homeowners depends largely on the type of loan they have and the terms of their mortgage. For example, if a homeowner has an adjustable rate mortgage (ARM), they may be able to adjust their monthly payment amount based on current interest rates. This can help them save money over time by reducing their payments when interest rates are low. Also, some lenders offer flexible payment options such as bi-weekly payments or interest-only payments. These options allow homeowners to pay off their mortgages more quickly or reduce their overall debt burden by making smaller payments over time. And depending on the lender, some homeowners may also be able to refinance their mortgages for better terms or lower interest rates. This can be a great way to save money over the life of the loan and make it easier for homeowners to keep up with their monthly payments.  When considering homeownership, buying a home may be more advantageous than renting. Whether you need to relocate quickly for your dream job or don't want to commit to one area, there are plenty of reasons why purchasing your first home instead of renting it could be the better option for you. Make no mistake, acquiring a home requires financial commitments such as a down payment and mortgage installments. It also necessitates good credit, stable employment and savings.Tax BenefitsBy purchasing a home, you are eligible for numerous tax advantages that aren't available to those who rent. These incentives are designed to promote homeownership and build wealth. One of the most valuable tax breaks for homeowners is mortgage interest deductions, which can save you thousands of dollars annually.  This benefit applies to homeowners with mortgages up to $750,000 on both residential and commercial properties alike. A homeowner may deduct any state and local property taxes they pay for their house. (Please consult with your tax advisor, IRS or licensed financial consultant for more information and guidance on the tax laws. This information may have changed since originally writing about it.)ConclusionBuying a home has its advantages over renting. It offers an investment opportunity, security, and potential financial gains. There are also possible tax benefits depending on your situation. When deciding whether to buy or rent, make sure to factor in the costs of ownership and maintenance as well as the location of the property. Take your time to decide which option is best for you and your family. With careful consideration and planning, owning a home can be an excellent choice for many people. Contact Breezy Raleigh if you're a first time buyer or even if you have bought in the past. We are here to help you.  Call or text: 919-752-4321

5 Top Questions to Ask Your Real Estate Agent When Buying a Home 

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It's important to ask the right questions of your real estate agent. Here are some key questions that will help you find the home of your dreams: why is the owner selling, what is the property worth, how old is the heating-cooling system and is the home in a community with an HOA?Asking each of the questions outlined in this article will help ensure that your experience is as smooth and successful as possible. Furthermore, make sure to stay informed throughout the entire process, no matter how long it takes. Don't hesitate to contact your real estate agent if you have any further questions or concerns.  Why Is the Owner Selling?The first question to ask your real estate agent is if they know why the owner is selling. Knowing this information can give insight into how motivated they may be and any other factors that could be influencing their decision. Additionally, ask about how long the property has been listed on the market as well as when it was initially put up for sale; these answers will provide more information about how quickly or slowly they are looking to move out of their current home. What Is the Property Worth?If you're planning on buying a home or other property, it's important to know what the property is worth. There are many different factors that can affect the value of a property. Knowing how much the property is worth can help you to make an informed decision and can also give you an idea of whether you can afford the property. When it comes to determining the value of a property, there are three main ways of doing it. The first is to use the property's current market price. Another way is to use an appraiser. An appraiser will determine the value of the property by adding up the value of the site, the physical depreciation factor, and the cost of improvements.  If you're looking to purchase a home, you should also consider the rental potential of the property. You can also make improvements to the home to increase its value, but you should also keep in mind that most belongings depreciate over time.Is There a Homeowners Association?Whether you are thinking of buying a home, you need to consider whether the property is within a homeowner’s association (HOA). The HOA is a type of association that is created and operated by a group of residents who live in a specific neighborhood. This association is designed to maintain and protect the value of your property.In most communities, the HOA will enforce neighborhood rules and will also provide services to the community. For example, a homeowner association will maintain common grounds and landscaping. It may even prohibit renting out your home. They can also enforce a few other rules. Some examples include the length of grass, the height of mailboxes, and the number of plants in your front yard.Your homeowner association will have a membership fee and you will be required to adhere to the HOA rules. There may also be fines for not following the association's rules. Fees can be charged quarterly or annually, depending on the cost of operating the development. Do you see any problems with this house?  This should be asked before any offer is made. A good agent will have done their homework and will be able to alert you to potential issues that might not be obvious upon inspection - such as structural damage or ownership disputes. Also, some states have disclosure laws for sellers which require them to reveal known defects about the property. Inquiring about problems upfront could save you both time and money down the road.What kind of heating and cooling system does it have and how old is it? Ask about the age and condition of major appliances like heating and cooling systems. How old is the current system? Is it in need of repair or replacement? Knowing this information can help you anticipate potential repair costs down the line. It's also a good idea to inquire about any recent updates or renovations that have been done on the property. Are there new windows, appliances, cabinets, or other features installed recently? What materials were used in making these repairs and replacements? In closing, asking the right questions to your real estate agent is essential to making an informed decision when purchasing a home. You should be sure to ask about their experience and credentials, as well as any additional services they may offer. Additionally, you should inquire about their methods for communicating and negotiating with other parties, such as listing agents and buyers. Make sure to also ask about their fees and commission before signing any paperwork.

Navigate the Real Estate Market: Master Common Real Estate Terminology

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Real estate can be an intimidating field to venture into, especially when you don't understand the terminology. Knowing the correct terms and phrases can make a dramatic difference in your understanding of real estate. Whether you are looking to buy or sell a property, it is important to familiarize yourself with some of the most common real estate terminology that you may encounter. This article will provide a comprehensive overview of key terms, making it easier for you to navigate the world of real estate.What is a Binder in Real Estate? A Binder is an important tool in the real estate industry. It is a physical document that contains all the pertinent information about a property, such as the address, zoning, and property description. A binder can also include pictures and floor plans of the property. Basically, a binder is everything you need to complete a real estate transaction. What is an Injunction in Real Estate? An injunction is a court order that prohibits someone from doing something. Injunction in real estate is a term used to describe a court order that prevents someone from selling or renting property. An injunction is a legal order that can be used to prevent someone from doing something. For example, it can be used to prevent someone from taking your property. This is done by filing a lawsuit and requesting that the court issue an order preventing the other party from violating your property rights.What is Misrepresentation in Real Estate? Misrepresentation occurs when one party in a real estate transaction makes false statements about the condition of the property or the seller's intentions. For example, if you go see a property and it does not meet your expectations, you may have grounds to file a lawsuit for misrepresentation. This could result in monetary damages for you, as well as causing damage to your reputation. There are several ways that misrepresentation can occur: by making false statements about the condition of the property, by giving false information about financing options available, or by lying about personal information about the seller.  If you're thinking about buying or selling a home, it's important to be aware of any misrepresentations made by either party involved in your transaction. If you have suspicion that someone has made a misrepresentation on your behalf, you should speak with a qualified real estate lawyer immediately.What Does Contingent Mean in Real Estate? A contingent purchase refers to a purchase agreement where the buyer has the right to buy the property but does not have to pay until certain conditions are met. For example, if you put down a 10% deposit and agree to buy the property at $200,000 if it qualifies for flood insurance, then you are making a contingent purchase. You will only have to pay the remaining 90% once the flood insurance policy says that the home is safe to live in.  A contingency is something that isn't part of the basic terms and conditions of a real estate contract but is instead agreed upon between the parties involved in the sale. Another example is if you're buying a home and the seller doesn't want to sell until they get their mortgage approved, the deal might be considered contingent. If you're selling a home and require financing but don't have a buyer lined up yet, your contract might also be considered contingent. This could include things like contingencies relating to zoning changes or inspections, money owed by either party if something goes wrong during closing, or penalties assessed if negotiations fall apart before closing.What Does Pending Mean in Real Estate?A pending sale refers to a sale that has not yet been finalized due to some sort of complication. It has not yet been officially executed by both parties. For example, if you put down an offer on a house and there's been some sort of mistake with paperwork (like misspelled names), then the sale would be pending until those documents are corrected. The seller could still sell the property to someone else, but it would be listed as being pending until the paperwork is finalized.What is Effective Age in Real Estate? Effective age is a term used to describe how old a property actually is. Older properties tend to command higher prices and may be more likely to have repairs or updates that need to be made. By knowing your effective age, you can make informed decisions about which properties are right for you and your wallet. What is a Net Listing in Real Estate?   A net listing is a real estate term that refers to a property being advertised for sale without having been inspected or staged. This allows potential buyers to view the property in its "as is" condition, which can give them a better idea of what they are buying.What Does Active Option Contract in Real Estate Mean?An active option contract in real estate is a type of contract that allows a property owner to sell their property before it's actually listed for sale. This type of contract gives the property owner the power to decide when and how they want to sell their property, which can be advantageous if they don't want their home to be on the market for an extended period of time. The advantage to using an active option contract is that it allows the property owner to control when and how much money they make from their sale. If they choose not to list the property for sale, they can keep it hidden from potential buyers until they're ready to put it up for sale. Another advantage of using an active option contract is that it can help sellers avoid bidding wars by giving them more control over when and how much money they're willing to offer for their home. By setting a price and deadline, sellers can ensure that there are no surprises during negotiations with buyers. A disadvantage to using an active option contract is that it can be more complicated than other types of contracts. It's important to have a solid understanding of the terms and conditions of the contract in order to avoid any potential misunderstandings.  What is a Title Commitment in Real Estate?A Title Commitment is a legal document that binds two or more parties to an agreement, usually pertaining to the purchase or sale of real estate. The document typically includes details about the property being purchased or sold, such as the price, time frame, and other conditions. If any of these conditions are not met by either party by the agreed-upon date, then that party can legally pursue remedies such as legal action or arbitration.What is a Contract of Sale in Real Estate? A Contract of Sale is a legal document that is typically used when someone wants to sell property. The document outlines the terms and conditions of the sale, such as the price, who will be purchasing the property, and any other details. It's also important to note that a contract of sale is not always required to complete a sale – in some cases, it can simply be an agreement between the buyer and seller.What is Actual Notice in Real Estate? Actual notice is a term used in real estate law that refers to the amount of time you have to give your tenant or buyer notice before they can be evicted. The amount of time you have to give them varies depending on the type of tenancy and the state you live in. In most cases, you must provide your tenant with at least 30 days' actual notice before they can be kicked out. What is an Injunction in Real Estate? An example of an injunction is a court ruling that commands someone to cease doing a particular thing. In real estate, this term is often used when one party (the petitioner) wants another party (the respondent) to stop doing something (usually renting or selling property). An injunction can be temporary or permanent, and it can be issued by the trial court, the appellate court, or the Supreme Court.What Causes a Mortgage Foreclosure? A mortgage foreclosure is the process of a lender taking legal action to evict a homeowner from their home because the homeowner has not made a payment on their mortgage.  There are several reasons why a homeowner might not be able to make a payment on their mortgage. If they are behind in their payments, the lender may put them into foreclosure to collect the money that they owe. If the homeowner has lost their job, they may be unable to afford their home and have no choice but to go into foreclosure.  Mortgage foreclosures can cause huge problems for homeowners and their families. Not only do they have to deal with the fact that they're losing their home, but often times they have to pay off all of the debt that was associated with it, which can be quite expensive.What is an Appurtenance in Real Estate? An appurtenance is a feature or accessory that is attached to a real estate property. This could be something as simple as a flagpole on a property that is meant to indicate ownership, or as complex as an underground water system. Appurtenances can also be more decorative, like porches or balconies. How to Close on Your Property with Ease! If you're ready to buy or sell a property, you'll want to know how to close on it with ease. Here are a few tips:  1. Get pre-approved for a loan. Before you go ahead and make an offer on a property, be sure to secure pre-approval from your lender. This will help speed up the process of getting funding and will ensure that you're not turned down for a loan because of an inadequate down payment or poor credit score.  2. Know your mortgage terms. You'll need to know the interest rate, the terms of your loan, and whether there's any prepayment penalties in place. If you're buying a property, be sure to ask about any restrictions on using your home as collateral - this could affect your ability to get financing. 3. Have funds available when making an offer. If you're offering more than the seller is asking for, make sure that you have enough money available in escrow (or another financial commitment) so that the seller can't back out at the last minute without penalty. Also be prepared to provide additional documentation if requested - this could include tax returns or building permits from the property's previous owner. 4. Know your rights as a buyer. As a buyer, you have the right to inspect the property and make copies of any documents you find suspicious. If you're interested in purchasing a property but the seller wants more money than you're willing to pay, be prepared to hold off until they come down to your price point - sometimes this can require some negotiation skills on your part!5. Don't be afraid to ask for help. If you need information about buying or selling a property, don't hesitate to reach out to a real estate agent at Breezy Raleigh or other professionals in the field. They're likely to be more than happy to help you out!

Investing in Real Estate - What Are Your Goals in the Housing Market This Year?

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When it comes to investing in real estate, there are many different ways to do it. It is important to decide which way you want to go before you invest. This can be something as simple as buying your first home or it can be as complex as diversifying your investment portfolio. By learning the best strategies, you will be able to make smart decisions and ensure that your investments last.Diversifying Your PortfolioIf you're interested in building up your portfolio to meet your goals, you should consider diversifying your investments. By doing so, you'll be able to reduce risk and better absorb market downturns. Diversification means investing in several types of asset classes, including stocks, bonds, real estate and more. You can also increase the diversity of your portfolio by choosing investments with different levels of risk. In many cases, diversification is the key to ensuring consistent returns. It can help you to avoid being caught in a bad spot and can make up for poor performance. However, it can be difficult to diversify your portfolio without the help of an investment advisor.   Growing your Referral NetworkBuilding a referral network takes a bit of time and effort. Luckily, there are some tricks of the trade to help you get started. And hey, it's a win for both you and your referral partners.One of the best ways to build a referral network is to connect with other professionals. This can be done in several different ways, from networking at industry events to donating time and money to charitable causes in your local community. A solid referral program should include a clear timeline, as well as realistic goals. The plan should also consider the health of your business. You want to be able to give your partners plenty of credit for any new business they refer to you.Another useful tactic for building a referral network is to focus on the most important contacts. Don't waste time with relationships that aren't yielding value.Using social media is a great way to stay on top of things. Checking in with friends, posting photos of you and your family in your local area, and making sure you're on social networks like Facebook are all smart moves.Keeping in touch with clients and potential clients is also an efficient way to promote your brand. Email, texts, and phone calls are a few ways to stay in touch. Creating a Facebook group for your referral clients can also be a useful tool. The biggest reason for doing it is because you'll be able to attract more business. Remember, the more referrals you can generate, the more chances you have of closing a deal.Buying Buying a home is a big decision. There are many things to consider before you plop down a chunk of your hard earned cash. Luckily, there are several steps you can take to help ensure you get the best deal possible. The first is to take stock of your current situation. It may be that you are in the market for a new house because of a job change, or you might have decided to downsize to a smaller house as you age. Before you start shopping, however, you need to consider what your budget is. This is the most important step in the process. If you don't know exactly how much you can spend, you might end up paying more than you need to, or worse, buying a house you don't want.Fortunately, a qualified loan officer can help you find a new place to call home within your price range. (Also see our article, "First Time Home Buyers: What You Need to Know" for more details and guidance.) Investing in Real Estate Investing in real estate is a great way to diversify your investment portfolio. It offers strong returns over time, while reducing risk. Since 1870, real estate has outperformed all other asset classes. The benefits of real estate include tax advantages and cash flow. Aside from these benefits, investing in real estate can provide a cushion against stock market fluctuations. Real estate has always been a good inflation hedge. However, inflation has been increasing, and this will continue. With high inflation, rental prices are expected to rise. If you are looking for ways to diversify your portfolio, consider investing in real estate this year. There are several types of real estate to choose from, each with their own pros and cons. Rental property is a traditional type of real estate. Owning a rental property provides you with the most control. Need help buying or selling real estate in North Carolina?

New Year's Resolution's for 2023

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As the world looks ahead to 2023, people are already making their New Year's resolutions. For some, it's about finally quitting smoking or losing that extra 15 pounds. Others want to focus on getting their finances in order or spending more time with family. If you're like many people, one of your goals for 2023 is to buy a home. For some of you, that means you are making it a priority to find and buy a house in 2023. And we would like to help you. There are many reasons why buying a home is a great idea. It's a great investment, it can help you build equity, and it can give you a place to call your own. Are you ready to make that dream a reality? Buying a home is a great goal to have for the new year. If you're looking for a big change in your lifestyle, buying a home is a good way to start the new year. While finding a new home can be difficult, it will make a big difference in your overall lifestyle. Buying a home in 2023Your 2023 New Year's Resolution to buy your first home should involve a few steps. Firstly, look at your current income, expenses, and savings and create a budget. Making sure all of your finances are in order will help you know what kind of mortgage loan you qualify for, as well as the price range of houses that fit within your budget. You also need to start establishing a good credit history. Building your credit is important because it helps lenders assess the risk of lending you money. If you don't do this, you may end up regretting it later. Most lenders will refuse to give you a loan with bad credit, or if they do, they will charge you a high interest rate. Increasing Your Credit ScoreYou have many options to make your dreams a reality. Like we mentioned above, consider your financial situation first. You may be able to buy a home without too much difficulty. However, if your credit score is not very good, you may have to pay more for a house. To get a lower interest rate, you can refinance your home loan. So do everything you can to get your credit score higher. Keep in mind there are many lenders out there that will work with all types of credit scores but the lower the score, the more interest you will probably pay! Another option is to seek credit counseling, which is available for free or very low-cost. Credit counselors can help you create a budget and prioritize your debt repayments. They can also help you enroll in a debt management plan. You can find accredited credit counseling agencies through the National Foundation for Credit Counseling and the Financial Counseling Association of America. You should aim to keep your debt to income ratio below 30%. It's even better if you can keep your debt to income ratio at 10%. Get Pre-Approved for a Mortgage This will give you an idea of how much home you can afford and also make the home-buying process smoother overall.  Getting pre-approved for a mortgage is an important step to take when you’re ready to start house hunting. Having a pre-approval letter in hand gives potential home buyers the confidence they need to know they can afford the home of their dreams. A lender will consider a variety of factors such as income, assets and credit to determine how much you qualify for and what kind of loan you may be eligible for. The amount stated in your pre-approval letter can help guide you when it comes time to look at different homes that fit within your budget. Knowing what you’re able to spend on your new home eliminates wasting time looking at properties outside of your price range. Additionally, having the pre-approval letter makes sellers more likely to accept offers from potential buyers since it shows them that financing won’t be an issue with buying the property. Start Shopping Around for Homes in Your Price RangeThis way, you'll have an idea of what's out there and what kind of homes fit your needs best. Doing some research will give you insight into the current market trends and prices so that you can find something within your budget. You'll also have access to information about what amenities and features each home offers, which is especially helpful if you're looking for something specific in a home. Also, this process may even reveal discounts or incentives that could save you money on your purchase. (Ready to search property listings online? Click here to search available homes.) Manifesting Your New Home Desire The first step in manifesting your new home desire is to understand why you want to make it a reality. Our beliefs create our emotions and our behaviors. These in turn create the effects we experience, which reinforce the beliefs we hold. It's very important that you shift your thinking to a mindset that supports your life goals. The second step is to get specific about what you want to achieve. Start by writing down your dreams and goals. Make a "life list" similar to a bucket list but make it specific to you. You can write these down in a journal. Writing down your desires in detail will make them more powerful. The subconscious mind and the universe somehow have a way of responding to your words! In conclusion, buying a home is a great way to invest in your future. Not only will you have a place to call your own, but you'll also build equity and be able to take advantage of tax breaks. So, if you're looking for a New Year's Resolution that will pay off, buying a home is the way to go!

What is a REO Property?

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What is a REO Property?An REO property, also known as a bank-owned property, is a real estate asset that has been returned to the lender after an unsuccessful sale at foreclosure auction. REO stands for “real estate owned” and occurs when the foreclosure process is completed and the previous owners have been evicted from the home. When no private buyer purchases the home during foreclosure proceedings, it becomes an REO property and is now owned by the lender or bank. The condition of an REO property can vary greatly depending on how long it has been vacant and who previously lived in it. Generally speaking, most REOs are sold in “as-is” condition which means that any repairs or renovations needed must be done by the buyer. This often makes these properties appealing to investors looking for inexpensive properties with potential for appreciation over time. Before You Search for REO'sBefore you begin your search for an REO property, make sure you have a thorough understanding of the process. Many lenders want these properties off their books as quickly as possible, so you need to get prepared and make your offer as soon as possible. Your best bet is to use a real estate agent with experience with REO properties. They can help you find the perfect home for you, structure your offer, and help you calculate the cost of repairs. They will also be able to streamline the buying process.  The process of buying an REO property differs slightly from a traditional foreclosure. The bank will often hire a real estate agent or REO specialist to sell the property. The bank's main goal is to sell the property for the market value, so they will reject low-ball offers. Regardless of whether you are buying a foreclosed home or a property with an REO, it's essential to take the time to research the property and network with those who have experience selling REO properties. A special warranty deed is typically issued to buyers of an REO property. This warranty ensures that the current owner has the right to sell the property and that no legal issues exist with the title. This is important because it can help prevent potential title problems. Why Would Someone Buy a REO?If you're considering buying a foreclosed home, there are several factors to consider. One of the most important factors is the price. Banks tend to reduce the price of REO homes to attract buyers. Since the bank loses money every day that the home sits empty, it is motivated to sell the homes. REO homes may need extensive repairs. The previous homeowner may not have had the funds to keep up the property. Also, the foreclosed homeowner may have taken less pride in the home than you do. You'll also need to check for liens. The price of a REO home can vary widely, and you'll have to make sure that you're comfortable with the price.Banks prefer to sell their REO properties in bulk. This saves them money and time. It also eliminates the risk of a fire sale, which can leave a property unsold. In addition, the property may be listed at market value instead of at a steep discount.  While it may seem like a great opportunity to make money, it's important to remember that foreclosures are not a good investment for everyone. Banks want to sell them as quickly as possible, but they also want to minimize their losses. How to Buy Bank Owned Real Estate If you're considering buying an REO property, you'll want to consult with a buyer's agent. Your agent will guide you through the REO process and let you know of any special requirements. He or she can also recommend a lawyer and an inspector if necessary. This can help you narrow down your options and find the best REO property for you.First, you'll need to find a lender. Lenders are typically very hesitant to approve a mortgage without an inspection, which is why they often sell REO properties "as-is." This means that they sell them "as is" - meaning the buyer must assume the risk of damages and liens before taking possession of the property. If you're an investor looking for investment property, an REO might be a good fit for you. While you don't need to do extensive rehab work on many of these properties, you'll want to do an inspection to make sure the property is in good condition. If there are any problems, the home inspector report can tell you about them. A thorough inspection can also help you bargain for a fair price. Another way to avoid paying over the odds for an REO property is to shop around before signing a contract. Most REO properties are sold at a price below market value. This makes them attractive to buyers, as lenders lose money the longer they hold onto a property. Since they are sold "as is," they're typically sold with clean titles, which means prospective buyers can inspect the property before signing the contract. In addition, buyers can negotiate down payments, loan amounts, and interest rates to get the best deal.If you're an investor, buying an REO is a great way to participate in real estate activities. Investing in REO properties can provide a lucrative profit margin. However, you should be prepared to pay more than the appraised value of the property. As with any property, there are a number of restrictions associated with buying an REO.REO properties are often attractive to investors and homebuyers. The downside is that the foreclosure auction process can be overwhelming for buyers. If you're not prepared to take the time to shop around, you can easily get burned - so pacing yourself and finding the best deal can be important. This guide can help you understand the REO process and answer common questions. How Fierce is the Competition to Buy an REO Foreclosure?  Buying an REO foreclosure is a great way to save money. The cost of a foreclosed property has been lowered dramatically and there are many investors looking to invest in foreclosed properties. These properties are professionally appraised and inspected and offer substantial savings over other property types. REOs are a great opportunity for new real estate investors and seasoned investors alike. While the competition for these properties can be fierce, there are a few key steps to take to make the best deal possible. First, keep in mind that competition is high for REO properties. The federal government's foreclosure moratorium is soon to expire, and this may lead to a tidal wave of foreclosed homes. That means that you'll have to move fast. The average time for a foreclosure to be completed is thirty days.Second, you need to understand how the market works. Understanding the current state of the market will help you identify opportunities and pitch them more effectively. You'll need to know how to deal with banks, and understand their unique monetary and oversight requirements. In addition, you must learn about the ins and outs of REO properties.   Conclusion Buying an REO property can be a great way to invest in real estate. With banks willing to negotiate the price, buyers can get a good deal on an existing home. It is important for buyers to understand that there may be extra costs and repairs associated with these properties, but it could still be a worthwhile investment. Buyers should also make sure they are working with experienced professionals who know the REO process and how to navigate potential issues.  Remember, REO auctions are very competitive, and you must be prepared to counter-bid if the listing agent doesn't like the offer you made. Also, banks often make counter-offers, and you need to be prepared to act quickly.

Homes for Sale Cary NC 

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Breezy Raleigh can help you find the perfect property. We have been helping buyers and sellers throughout the area find their perfect properties for years. Our highly skilled real estate agents have extensive knowledge of the local market and know exactly what it takes to get you a great deal. We work hard to ensure that our clients are satisfied with their purchase and always strive to make sure that your transaction is as smooth and stress-free as possible. If you're looking for a place to raise a family, Cary North Carolina is a great place to consider. The city has a population of approximately 185,000 which is just about large enough to be a thriving metropolis, yet it somehow still maintains a hometown feel. Cary properties have long been sought after in the real estate market. Cary residents enjoy the wake county public schools for their children, close proximity to high paying employers and NC homes with great square footage homes! Cary, NC is really the heart of the triangle area.In fact, Cary was recently recognized as the 150th largest city in the United States. Money Magazine has ranked it on their list of the best places to live in the U.S. The median sale price for a home is $545,000. Recent home sale data has driven it to $558,000. In Cary, the average sale price per square foot is $246. This is nearly a 15% increase since 2021. Heading into 2023, pricing has begun to cool down and is much more stable. The city also boasts a low unemployment rate, which is well below the state average. Commute times are generally under twenty-three minutes, making Cary a convenient place to live and raise a family. Even better, the distance between Cary and Research Triangle Park is about 11 miles. It should take roughly 14 minutes to drive that distance.  Cary North Carolina is a tree filled and vibrant community that has plenty to offer. It has very good shopping and restaurants, a low crime rate, and many highly ranked universities in the area. You'll also find affordable housing and access to recreational activities. The city's rapid growth and development is a big benefit, although it may lead to increased traffic congestion. However, the positives far outweigh the negatives.The city of Cary is a family-friendly area that encourages an active social life. The Cary area hosts various family events throughout the year, including outdoor concerts, BBQ festivals, and community celebrations for all seasons and holidays. There are also a number of art and cultural festivals that take place in the downtown area. These include the Spring Daze Arts and Crafts Festival, Lazy Daze Arts and Crafts Festival, Diwali Indian Festival of Lights, and Kwanzaa Festival. Do you have a dog? Cary is a dog-friendly city with many dog-friendly businesses. You can even get a bacon-wrapped hot dog at BottleDog Bites & Brews, a hybrid taproom and bottle shop with tv’s.. You can also take your dog to one of the many parks in Cary. In addition, you can also enjoy the greenways along the city's lakes.The educational system in the city is respectable. Cary is located near several of the nation's best universities and colleges. The University of North Carolina at Chapel Hill and North Carolina State University are just two. Many residents are active students or alumni of these institutions. This high-quality education system is one of the reasons the city boasts a highly educated workforce. In addition, the city is home to the Koka Booth Amphitheater, which sits on 14 acres of hardwood trees and pines. The cost of living in Cary is slightly cheaper than the national average. However, it can still be expensive, depending on your financial situation. Because of its proximity to Raleigh and Durham, the city offers a wide range of amenities, public parks and activities. For example, people living in Cary can enjoy world-class dining, entertainment venues, and outdoor recreation. The community is also friendly. Cary is a popular choice for families. You can find plenty of family-friendly activities in many of its neighborhoods. The median age of people in the city is about 40 years old, which makes it a great place for families with children. \With hundreds of Cary homes for sale at any given time, you're sure to find one that meets your requirements. If you're looking for new homes, new construction, a new listing or detailed information, let one of our real estate agents help find the property type that will make you happy! If you're looking for a real estate company in the Cary, North Carolina area, look no further than Breezy Raleigh. Whether you are buying or selling a home, our comprehensive list of services will make your real estate transaction as smooth as possible. Breezy Raleigh is the Raleigh area real estate team that makes buying and selling a breeze!

What is an Encroachment in Real Estate?

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When it comes to buying a home, the last thing any buyer wants to find out is that there is a serious encroachment issue. In other words, property line issues. Unfortunately, this is a reality for many buyers, as encroachment issues are not always caught during the home inspection process. An encroachment issue can delay the closing of a home by weeks, or even months, and in some cases, the issue may be enough to cause the sale to fall through entirely. An encroachment is when one property owner builds extending onto another property. The line where one property ends an or unauthorized intrusion onto their real property the other begins is called the property line. Encroachment in real estate usually refers to when this occurs without the permission of the other property owner, and it is considered to be intentional. Structural encroachment happens when a physical structure from one property crosses over onto another property. This can happen with fences, buildings, or other features. Even if the encroachment is not structural, it may still be considered illegal. What Types of Encroachments Are There? There are several types of encroachment. Structural encroachment occurs when a building or other structure is built on or over the property line. Property encroachment occurs when someone uses part of your property without your permission. This could be something as minor as putting a flowerpot on your property line or something as major as building a deck that extends onto your neighbor's property. Potential encroachment occurs when there is a possibility that someone could encroach on your property in the future, such as if your neighbor plans to build a shed that would extend onto your property. Encroachments can take many different forms and can often be difficult to spot. Here are a few examples of encroachments: 1. An unapproved fence or structure that extends onto your property. 2. A neighbor's trees or shrubs that are growing onto your land. 3. Someone parking their car on your property without permission. 4. A utility company placing equipment on your land without authorization. How Do You Determine a Major Encroachment from a Minor Encroachment?The main difference between a major and minor encroachment is the size and scope of the project. A major encroachment is usually a much larger project that has a greater impact on the environment, while a minor encroachment is typically smaller in scale and has less of an impact.How Do Encroachments Happen? An encroachment occurs when someone unlawfully builds on or over your property. This can happen if your neighbor builds a fence or deck that extends onto your land, or if a utility company digs trenches across your property without your permission. In some cases, an encroachment may be minor and not cause any harm. However, in other cases, it can interfere with your use and enjoyment of your property. If you believe that an encroachment has occurred on your property, you should consult with an attorney to discuss your options. What Can I Do About an Encroachment? When it comes to dealing with property lines and property boundaries, it's a good idea to have a simple conversation with your neighbor. A friendly conversation with your neighbor will most likely result in a mutually beneficial outcome. An amicable or fair agreement should be the goal. For example, if you have an encroachment on your property, you may be able to sell the land to the person who is encroaching. Or you may be able to work together on an encroachment agreement. If you are buying or selling a property, you should have a real estate attorney review the land survey records to determine if there are any encroachments. If you are buying or selling a property, you should also have a mortgage lender review the land survey to determine if there are any encroachments. What is an Encroachment Agreement?An Encroachment Agreement is a written agreement between two property owners that defines the rights and responsibilities of each party with regards to an encroachment. An encroachment is when one property owner builds or places something on their neighboring property. An adverse possession is when one property owner illegally occupies their neighboring property. An encroachment may be as simple as a fence or bushes that grow onto a neighboring property, or it may be a deck or shed that is built partially on the neighboring property. In some cases, an encroachment may be intentional, while in other cases it may be accidental. If an encroachment is not addressed, it can lead to disputes between the two property owners and can even result in legal action. An Encroachment Agreement can help prevent these disputes by clearly defining the rights and responsibilities of each party. It is important to consult with an attorney before signing an Encroachment Agreement to make sure that you understand all the terms and that the Agreement is in your best interests. Express Permission In order to avoid any potential legal issues, it is best to get express permission from the property owner before entering onto their land. There are a few different ways that you can obtain express permission from a property owner. The first is to simply ask them for permission in person. This is the most straightforward approach and gives you the opportunity to explain what you would like to do on their property. Another way to get express permission is by sending a written request to the property owner. This can be done via mail, email, or fax. Be sure to include all relevant information in your request, such as your name, contact information, and the reason for wanting to enter the property. What is the Difference Between Encroachments and Easements?An encroachment is when someone builds on or over your property without your permission. An easement is the right to utilize or occupy someone else's property for a particular purpose. As the property owner, you can have problems with either an encroachment or an easement. For example, an encroachment can block your view or access to your property, and an easement can make it difficult to sell your property or develop it. In some cases, an adverse possession claim can be made if someone has been using your property for a long time without your permission. How Can an Encroachment Identified by a Survey be Remedied? If an encroachment is identified by a survey, another property owner and the person who owns the piece of land that the encroachment is on can come to an agreement about the encroachment. This agreement is called an encroachment agreement and it outlines what will be done about the encroachment. The agreement may involve the property owner moving their property line so that the encroachment is no longer on the other person's land, or it may involve the other person giving the property owner permission to keep the encroachment where it is. Real estate encroachments can happen even if the person didn't mean to do anything to his neighbor's land. Sometimes people are unaware or not clear about the boundary line and what is actually the neighbor's land and the neighbor's rights. This can happen for many reasons such as an overgrown hedge. Encroachment usually occurs because the property survey is inaccurate or wasn't updated when the neighboring property was developed. If you discover that someone has encroached on your property, you can take steps to assert your property rights and have the encroachment removed. In conclusion, it is important to be aware of potential encroachments when buying a property. This can avoid costly legal fees and headaches down the road. If you are unsure about whether there is an encroachment on your property, it is best to consult with professional surveyors and a qualified real estate attorney.

The Value of Home Ownership

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The value of home ownership is often overlooked, and yet a recent white paper by the National Association of REALTORS examines the social and financial benefits of home ownership. According to the study, eighty percent of adults believe that buying a home is the best long-term investment. Not only does home ownership create wealth, but it also improves quality of life, reduces stress, and increases self-esteem.Home ownership has a long history in the United States. It has helped build the middle class and fostered the post-war economic boom. In the United States, home ownership has long been an important equalizer and a source of wealth. It provides an avenue for middle-class families to build wealth, and houses have typically appreciated at rates that are much higher than inflation. For low and middle-income families, housing is often the single largest source of wealth, as many of them don't invest in stocks or other financial investments. Today, home equity makes up roughly 42 percent of the wealth of the average middle-class family.Homeownership also benefits communities. Homeowners support their local schools, fire and police departments, and city governments. Owning a home also means being a part of the neighborhood. You should fight to protect the value of your property. In America, the desire to own a home will never go away. It is a part of the American dream, and it makes economic, social, and practical sense. It is also essential to our nation's economy. Therefore, government policy cannot abandon its role in housing-credit markets. However, the housing bubble of the early 2000’s blew because of reckless lending. The Power of Home Equity Home equity is the difference between a home's appraised value and its mortgage balance. Home equity can influence many financial decisions, including whether or not you need private mortgage insurance. Home equity is also a long-term strategy for building wealth. There are several different ways to calculate your home's equity. Using a home equity calculator will give you a general idea of the equity in your home. An appraisal will provide more accurate numbers. A home's price is influenced by its location. In some areas, homes appreciate, while others depreciate. The value of land beneath a rundown home might be worth more than the residence. If this is the case, a seller might consider selling the home as-is or demolish it entirely to sell the land underneath it.Increasing home prices have contributed to the significant rise in home equity for homeowners. According to CoreLogic data, the equity in US homes has risen by over $2 trillion since the second quarter of 2020.  Rising home prices have led many homeowners to look for ways to unlock the equity in their homes. While some homeowners may opt to sell their homes, others can take advantage of financial products such as cash-out refinancing or a home equity line of credit. A reverse mortgage is another option, which is available to most homeowners. Quality of Life and Home Ownership In addition to its financial benefits, home ownership also improves quality of life. Homeowners often volunteer and become involved in their local community. Many homeowners also work hard to maintain their properties to keep them looking good. This helps them build a sense of responsibility in the community. In contrast, the majority of renters rarely stay in one place long enough to develop roots. Homeownership StatisticsAccording to the Census Bureau data, the homeownership rate in the United States rose to 65.8% in 2020, from 65.1% in 2019. The long-term trend is still positive, however, as the homeownership rate was just 62.9% in 2016 and is up from a 50-year low of 62.1% in 2011.The first step in homeownership is the decision to buy a home. A home represents one of the most significant investments in a person's life. Many Americans become homeowners before age 35 and continue to own a home for the rest of their lives. The oldest group of homeowners is those who are 65 years or older. The median age of a first-time homebuyer was 33 years old in 2016, while the median age of repeat homebuyers was 56 years old in 2021. In addition, 11% of homebuyers purchased a multi-generational home, which included two or more generations. Benefits to Owning Your Own Home Owning your home is an incredible asset that can save you money and increase in value over time. It can also serve as a nest egg for the future. You won't have to worry about paying rent every month, and if you decide to move, you can sell it for a profit. Another advantage to owning your own home is that you can make changes whenever you like. You won't have to worry about being locked into a lease agreement and having to change things you're not fond of. You can also make improvements and additions that are both budget-friendly and attractive to you. The most important tax benefit of owning your own home is the ability to deduct the interest you pay on your mortgage. You can deduct your interest payments for several years, which can help you pay less taxes. But you should be aware that there are limits, qualifications, and other requirements for getting these tax deductions. These depend on the type of property you own and its location. You can also design your home the way you want it, which will allow you to enjoy the many benefits of owning your own home. For example, you can adopt a pet, paint your walls a different color, or make renovations to your kitchen. In addition, you will be able to make changes to your home without having to worry about getting permission from your landlord. As we mentioned earlier, you can leverage the equity in your home to make additional purchases. You can refinance your mortgage or take out a home equity loan to use the funds. This can help you renovate your home, purchase a new car, or treat yourself to a special holiday. In addition to these benefits, you are also able to borrow against the equity in your home. Another advantage of owning your own home is that your mortgage payments will remain stable. This is not the case with renting. Your rent is subject to fluctuations and will increase and decrease over time. You will also need to pay a utility bill every month. The cost of moving into a home can initially deplete your savings. However, the benefits of owning your own home outweigh the costs. Besides saving on rent, owning your own home will also help you avoid dealing with bad landlords. In the case of renting, you may be stuck with a landlord who demands too much rent, is rude, or exploitative. In addition, owning your own home will allow you to choose where you want to live. How Homeownership Can Help You Protect Your Financial Stability Homeownership can help protect your financial stability if it allows you to avoid large debt payments and other high-risk investments. By Having an ownership stake in your home, you can take more precautions to protect yourself from potential creditors and loss of income. Additionally, owning a home gives you the security that comes with knowing that you will be able to meet monthly payments on the property without fear of bankruptcy or foreclosure. In conclusion, home ownership is a valuable asset for many reasons. It provides security, stability, and builds equity over time. It also offers tax benefits and can be a source of income if you choose to rent it out. If you're considering buying a home, be sure to do your research and consult with a financial advisor and realtor to ensure it's the right decision for you.

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