How to Choose A Good REALTOR®

Many of us know may someone who has a real estate license, perhaps a relative, friend or coworker who works in the business.  That does not necessarily qualify them to represent you when buying or selling a home. You might be considering choosing a realtor you know because he or she seems like a nice person, because you have known him for years or because you would feel bad if you chose to work with a different realtor.  

The question is however….is that the right reason to choose a realtor when it comes to the investment of a lifetime?  The challenges a realtor works through on a day to day basis, along with the experience of time spent on finding and closing deals is what truly sets the full time real estate professional apart from the realtor who works on the side for extra cash. Experience is the name of the game and your full time realtor is calling the shots! Whether it comes to negotiations, working a way through a sticky deal or finding the right home for you……a full time professional  who is selling homes on a daily or weekly basis has acquired the experience that will get you to your end goal! 

Tiny House News

Big Roadblock for Owners of Tiny Homes

DAILY REAL ESTATE NEWS | MONDAY, OCTOBER 09, 2017

REPOSTED BY CALLIE JOHNSON, REALTOR®, SRES®, ADVANCED REAL ESTATE & PROPERTY MANAGEMENT

Homeowners who have embraced the “tiny home” lifestyle are discovering that it’s not so easy to find a place to put their property. Many tiny houses—usually considered to be between 100 and 400 square feet—are built on trailers with wheels so they can be towed, but zoning regulations in many cities don’t allow for temporary structures such as RVs or other movable homes. These laws also frequently specify a minimum size for a home or lot size, and building codes for residential properties can be problematic for tiny houses built on foundations, The New York Times reports. 

Andrew Morrison, a professional builder, told the Times that he believes “upwards of 90 percent of tiny-house owners are living illegally when it comes to zoning. …  A very small minority live in RV parks, though they usually have a limit on how long you can stay. A friend or family’s backyard, or land in the country, is much more common.”

The tiny home movement has become popular over the last few years, and many municipalities are facing increased pressure to embrace smaller structures as legal residences. Advocates in some cities have made headway in changing ordinances governing accessory dwelling units and backyard cottages. For example, Fresno, Calif., and Nantucket, Mass., now permit tiny houses to share land with existing homes. “It’s a spirit of cooperation,” Morrison told Times. “It’s a simple way to bring in affordable housing that doesn’t cost the municipality anything.”

The tiny home movement won another victory recently when the International Code Council approved a model code for tiny houses to be included in its International Residential Code. The document is the most widely recognized residential building code in the U.S. “There’s a fear that people are going to end up living in shanty shacks,” says Morrison, who helped write the code guidelines. “We don’t want that either. We want people to be safe in their houses and in something they can afford.”

Source: “Where Can You Park a Tiny Home?” The New York Times (Oct. 6, 2017)

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Refinance Scams Target Military Vets

DAILY REAL ESTATE NEWS | MONDAY, OCTOBER 09, 2017

REPOSTED BY CALLIE JOHNSON, REALTOR®, SRES®, ADVANCED REAL ESTATE & PROPERTY MANAGEMENT

The federal government is investigating a number of predatory lending schemes targeting thousands of veterans who have Veterans Administration mortgages. Officials say the scams aim to convince borrowers to repeatedly refinance, ultimately paying more on their loans. Some lenders also are being accused of using teaser interest rates, “cash out” windfalls, and lower monthly payments, using marketing materials that sometimes resemble Department of Defense information, the Chicago Tribune reports.

Veterans reportedly are being overwhelmed with misleading refinance offers—sometimes refinancing properties multiple times in a year. “We’re seeing borrowers refinance three times in less than six months, and their loan balances are going up,” says Michael R. Bright, acting president of VA loan giant Ginnie Mae. The Department of Veterans Affairs has teamed with Ginnie Mae to create a task force to investigate such cases.

Ginnie Mae investigators have found that these refinancing offers often prompt homeowners to switch from a long-term fixed-rate mortgage to a riskier short-term adjustable-rate loan. The borrowers then find that the principal amount they owe to the lender has increased by thousands of dollars. In some cases, borrowers added $12,000 to their total loan amount in order to reduce their monthly payments by $165. Ginnie Mae economists say it would take more than six years just to break even on such a deal. VA home loans often have no down payment requirements.

The VA warned that lenders who make “improper charges or fees” that lead to foreclosure will face stiff penalties. The Consumer Financial Protection Bureau plans to fine and sue lenders who propagate these abuses.

Fall May Be Best Time To Buy

Fall May Be Best Time for Buyers to Move

DAILY REAL ESTATE NEWS | THURSDAY, SEPTEMBER 21, 2017

REPOSTED BY CALLIE JOHNSON, REALTOR®, SRES®

A slower fall season in home buying may help more lingering home buyers to jump in.
Prices are easing somewhat. For the second month in a row, the median price of an existing home dropped. It reached $253,500 in August, after reaching a record high of $263,300 in June, according to the latest data from the National Association of REALTORS®. Summer is a big time for home purchases, so that families settle in before school starts in the fall. In the fall, the types of homes that sell are smaller for people without kids. So they tend to be less expensive.

Studies have shown that fall can be the best time to buy.  Pu rchasers in October paid 2.6 percent below the estimated market value at the time for their home.In other words, buyers interested in a $300,000 home tend to see a $7,800 discount on it in the fall. Oct. 8 was found to have the best day for bargains too, with an average of 10.8 percent below estimated market value.

Home sales in August started to decline heading into the fall season. Sales of existing homes fell 1.7 percent from July to August, but NAR mostly blamed the decrease on the limited number of listings for sale on the market.

Properties are staying on the market for less time, so buyers will need to be ready to act fast. Fifty-one percent of homes sold in August were on the market for less than a month, according to NAR. Properties typically stayed on the market for just 30 days in August.

Painting to Hide Something Ugly

For a Room With Something Ugly to Hide

Not everything should stand out in a space. Using a low-contrast palette is a good way to hide unappealing elements or flaws.

Conduit, radiators, and other components painted the same color as the wall will seem to disappear.
  
Selecting low-sheen or flat paint colors also helps hide flaws. Unless walls are smooth, avoid using high-gloss paint because it reflects light and calls attention to an uneven surface.

Mold Cleanup in Your Home

After a flood in your property, you may decide to call a mold remediation specialist as part of the clean-up. Don’t get scammed. In addition to getting recommendations, make sure the company you hire is certified by a reputable mold remediation organization.

Another way for you to avoid hiring scammers is to contact your state’s licensing board for contractors. Protect your home and your wallet.

Who should do the cleanup depends on a number of factors. One consideration is the size of the mold problem. If the moldy area is less than about 10 square feet (less than roughly a 3 ft. by 3 ft. patch), in most cases, you can handle the job yourself, follow the Mold Cleanup Tips and Techniques.   The United States Environmental Protection Agency has a great website describing more info in detail.  Click Here To Find Out More

What's Hot In Home Design

The Home Designs Gaining, Losing Popularity

DAILY REAL ESTATE NEWS | MONDAY, AUGUST 07, 2017

REPORTED:   BY CALLIE JOHNSON REALTOR, ADVANCED REAL ESTATE and  PROPERTY MANAGEMENT

Builders are slowly switching focus from the $500,000-plus luxury market to more moderate price points, particularly when it comes to single-family move-up homes. And the shift is influencing the types of materials and upgrades becoming popular in new homes, according to Home Innovation’s 2017 Builder Practices Survey. It turns out that high-end materials aren't limited to construction of luxury real estate.

• Crazy for quartz. Despite being one of the priciest products on Home Innovation’s list of building materials, quartz had its best year in 2016. Quartz surfaces in the bathroom appeared in 13 percent of new homes last year, up from 9 percent in 2015. In the kitchen, quartz counter tops were even more popular, appearing in 15 percent of new homes last year compared to 9 percent in 2015.
• Nickel gains ground. Nickel faucets are also gaining popularity in kitchens, outselling stainless steel, chrome, and bronze. In the bathroom, nickel is also being used more often, though it fell just shy of chrome in popularity. 
• Hardwood, vinyl are tops for floors. High-end solid hardwood and luxury vinyl tile are popular for kitchen floors. But engineered hardwood and ceramic tile each rose by 3 percentage points in market share.
• No more bubble baths? The jetted tub is continuing to lose favor, going from being installed in about 15 percent of new homes in 2015 to 11 percent in 2016.
• Granite and marble are on the outs. The share of new homes with natural granite and marble showers and bathtubs dropped from 12 percent to 9 percent last year. High-end enameled cast iron and granite sinks also lost favor. Lower- to mid-range vitreous china and enameled steel sinks each increased in popularity.