Springtime Is the Beginning of Entertainment Season – Is it time for a remodel?

Eastern Shore Real Estate

Spring will be upon us before we know it.  As most of you know, Judy Niemeyer is a name that is recognized as an agent who knows the market in Fairhope, Montrose, Daphne, Spanish Fort and of course Point Clear. Locals call this area, the Eastern Shore of Alabama.  My real estate career began in 1979, and oh how our homes have changed since then.  Gold and green were the main colors back in 1979 and wallpaper was big.  Wallpaper is coming back and I thought I would never say that.  White is big and neutral is the new game in town.  Accessories are being used to add the warmth.

If you are ready to make a change in your home,  you may ask “Where should I start?”  Most people like to start in the kitchen and Judy says YES!!!.  Step back and give your kitchen a critical eye.  Start pulling up suggestions either from internet sites such as Pinterest or Houzz, magazines, or even open houses in newer neighborhoods.  If you need an outside eye, consult a kitchen designer but first think of budget.  Get a notebook and start making a plan!

Appliances always show age, especially stoves. If you’ve had yours for years, go out and buy a new one.  This is one of least expensive changes in a kitchen and makes an easy and immediate impact.  Stainless has been popular for many years and still seems to be in style.  Gas stoves are very popular and are favored by people who love to cook.  Cabinet depth refrigerators certainly enhance the look of a kitchen, but they are usually more expensive.

Cabinets designs are simpler than they used to be.  Shaker or slab doors are currently in style and present a clean and sleek look.  In most cases, just replacing doors and adding hidden hinges will make a tremendous difference.  Paint instead of stain is currently more common.  Pull-outs shelves and Lazy Susan corners are a great way of utilizing your storage space if you are getting all new cabinets.  Keep your kitchen color scheme as neutral as possible.  Color can be added by using art and accessories.

Simple lines are fashionable.  Lighting needs to flow.  Quartz on countertops is used more today instead of granite or marble due to its versatility and resilience.  Some people add depth to the countertop to create an additional dining space.  Choose a simple backsplash but also keep it neutral.  You do not want the updates to go out of style.  I love a separated farm sink. If you replace the countertops, then choose a neat sink.

It can be tough to choose hardware that compliments your overall design.  If your cabinet design is simple, stick with a simple pull.  When choosing a faucet, consider spout height, pull down vs conventional, single vs. multiple handles and finish.  Single handles are much more convenient to use as you can control with one hand.  I recommend buying one that is easy to maintain.  Pay for quality but easy maintenance.

Take your breakfast area and make it happy with comfortable chairs.  This is a great gathering spot in a kitchen.

Updated kitchens bring a wow to a home.  Have fun with the updates but remember start with a budget.

 

 

What’s the Difference between an Appraisal and a Home Inspection?

Home Inspection versus Appraisal

What’s the Difference between an Appraisal and a Home Inspection?

If you’re planning to buy a home, an appraisal is an important step in the process. It’s a professional evaluation of the market value of the home you’d like to buy. In most cases, an appraisal is ordered by the lender to confirm or verify the value of the home prior to lending a buyer money for the purchase. It’s also a different step in the process from a home inspection, which assesses the condition of the home before you finalize the transaction. Here’s the breakdown of each one and why they’re both important when buying a home.

Home Appraisal

The National Association of Realtors (NAR) explains:

“A home purchase is typically the largest investment someone will make. Protect yourself by getting your investment appraised! An appraiser will observe the property, analyze the data, and report their findings to their client. For the typical home purchase transaction, the lender usually orders the appraisal to assist in the lender’s decision to provide funds for a mortgage.”

When you apply for a mortgage, an unbiased appraisal (which is required by the lender) is the best way to confirm the value of the home based on the sale price. Regardless of what you’re willing to pay for a house, if you’ll be using a mortgage to fund your purchase, the appraisal will help make sure the bank doesn’t loan you more than what the home is worth.

This is especially critical in today’s sellers’ market where low inventory is driving an increase in bidding wars, which can push home prices upward. When sellers are in a strong position like this, they tend to believe they can set whatever price they want for their house under the assumption that competing buyers will be willing to pay more.

However, the lender will only allow the buyer to borrow based on the value of the home. This is what helps keep home prices in check. If there’s ever any confusion or discrepancy between the appraisal and the sale price, your trusted real estate professional will help you navigate any additional negotiations in the buying process.

Home Inspection

Here’s the key difference between an appraisal and an inspection. MSN explains:

“In simplest terms, a home appraisal determines the value of a home, while a home inspection determines the condition of a home.”

The home inspection is a way to determine the current state, safety, and condition of the home before you finalize the sale. If anything is questionable in the inspection process – like the age of the roof, the state of the HVAC system, or just about anything else – you as a buyer have the option to discuss and negotiate any potential issues or repairs with the seller before the transaction is final. Your real estate agent is a key expert to help you through this part of the process.

Bottom Line

The appraisal and the inspection are critical steps when buying a home, and you don’t need to manage them by yourself. Let’s connect today so you have the expert guidance you need to navigate through the entire homebuying process.

Thank you to all Veterans

Yesterday I was fortunate to tour the shores of Normandy, walk the beach and visit the American cemetery. How heroic our soldiers were and how proud I was to be an American. Over 9,000 Americans are buried in the cemetery. All marked with beautiful white marble crosses.

As we approached our group joined into the Pledge of Allegiance and then followed with taps. It was a very emotional day.

Thank you to all Veterans. Today is your day.IMG_0138

Mobile/Eastern Shore AL Real Estate: Home Sweet Condo?

One of the most fundamental questions when considering purchasing Mobile/Eastern Shore AL real estate is whether to purchase a single family home or a condo.  Although there are many factors to consider, the answer really lies in the buyer’s preference and lifestyle.

 

A condo might be a good fit for those in search of a more urban, low-maintenance lifestyle.  Condos typically resemble apartments with several units in the same building or complex sharing amenities (although they can also be duplexes, free-standing buildings, etc.).  Although there are monthly maintenance fees involved with condo ownership, that also means that the owners are not responsible for any maintenance outside their own four walls.  Because condos are a shared community, ownership is often limited to a specific space. 

 

For many home-buyers, single-family homes offer more privacy and control.  When purchasing a single-family home, the buyer owns the entire building as well as the land on which it sits.  Likewise, this means the maintenance of the structure and the land is the owner’s sole responsibility.

 

If you would like to learn more about owning Mobile/Eastern Shore AL real estate, please call me at 866-560-7474 or visit JudySells.com.  Find Your Perfect Eastern Shore AL Home!

Mobile/Eastern Shore AL Real Estate Tip: What Is Universal Design?

You may have heard buzz around the term “universal design” in recent years, but do you know what it is or how it affects the Mobile/Eastern Shore AL real estate and construction markets?

 

According to Lowes.com, universal design is the creation of products and environments meant to be usable by all people, to the greatest extent possible, without the need for adaptation or specialization. The intent is to simplify life for everyone by making products, communications and the built environment more usable by as many people as possible at little or no extra cost. Universal Design benefits people of all ages and abilities.

 

Think this is some “far out” theory just now working its way into the “modern” world?  Think again:  if you’ve ever walked through an automatic door, you’ve experienced a version of Universal Design.   Likewise, a ramp or curb cut is just as welcome to someone with a baby stroller as it is to someone in a wheelchair.
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Eastern Shore/Mobile AL Real Estate: How to Tell When A Price Is Too Good To Be True

If you are currently looking to buy Eastern Shore/Mobile AL real estate, you probably have a good idea of the general range you can expect to spend on a home.  So you might be surprised when a great-looking home shows up on the MLS with what seems like a shockingly low price tag attached.  The extra-low price seems too good to be true and – most of the time – it is. 

 

In many cases, the price you are seeing does not represent the actual asking price of the property.  Rather, it is likely a property that is in “pre-foreclosure” and the amount listed actually represents the balance of the defaulted loan, or the amount the current owner is in arrears.  Below is an excerpt from an article I found at Inman News that does a great job explaining how these properties end up on MLS search engines, and what you can do to spot them:

 

Real estate agents, investors and sophisticated buyers will know that it’s impossible to buy a house in Hermosa Beach for $4,712. But first-time home buyers may miss the fine print on sites like Yahoo and Trulia that explains that this is not the home’s listing price — and that the property may not even be for sale.

The practice of mixing pre-foreclosure properties with listings of for-sale properties by major listings sites like Yahoo Real Estate and Trulia is misleading to consumers and damages the credibility of the sites that allow it, according to a company that’s in the business of supplying similar information itself.

Brad Geisen, founder and CEO of Foreclosures.com, singled out Yahoo Real Estate and Trulia — which have partnerships with Foreclosure.com’s rival, RealtyTrac — as sites that are presenting pre-foreclosure data to consumers in a potentially confusing way.

Property searches conducted by Inman News show both sites provide information that could help consumers understand that the pre-foreclosure properties are not “listings,” and that the dollar figures displayed with each are not asking prices. But there does appear to be potential for confusion.

Checking “foreclosures” under “listing type” and entering a maximum value of $100,000 in the “price” field, a Yahoo Real Estate search for properties in Hermosa Beach, Calif., turned up seven properties, accompanied by dollar figures ranging from $4,712 to $100,000. According to Yahoo, the median asking price for 34 homes on the market in Hermosa Beach is $1.29 million.

But click on any of the properties for more details, and you are given a “property description” that reveals — for the first time — that the dollar figures associated with each property in the search results is not the asking price. Although “price” was specified in the query, the numbers may represent “estimated loan balance” or another figure related to the borrower’s indebtedness.

The moral of the story here is two-fold;  first, be sure to always read the fine print and don’t trust everything you see on the Internet and, second, always consult with an experienced Realtor who can help you determine the legitimate value of a property and assist you in finding the home of your dreams.

If you are ready to learn more about Mobile/Eastern Shore AL real estate, please call me at 866-560-7474 or visit JudySells.com.  Search all Mobile Eastern Shore AL real estate.

Re-capturing the American Dream With Mobile/Eastern Shore AL Real Estate

In the past, owning a home has always been perceived as a major component of the “American Dream.”  Unfortunately, because of the recent real estate market activity, home-ownership is often seen now as more of a nightmare than a dream.  But that doesn’t have to be the case!  Even in a slower economy, purchasing Mobile/Eastern Shore AL real estate can still be a step toward achieving your own “American Dream!” 

 

Inman News offers some reasons why home ownership still has benefits and advantages, including:

  • The opportunity to build equity and create wealth over time.
  • Protection from rent increases or eviction at the whim of a landlord.
  • The pleasures of a relatively larger home, suitable for a family, and with a backyard, garage or other auxiliary space.
  • The freedom — design review boards notwithstanding — to improve, remodel or redecorate to suit one’s own style and budget.
  • A variety of lucrative income-tax breaks.
  • Pride of ownership and a greater sense of security and stability.

 So, if you are thinking of purchasing Mobile/Eastern Shore AL real estate, now is the time!  Don’t let the negative media attention on the market get you down – home ownership is still an attainable goal and a big part of the American Dream.

 

If you are ready to begin looking at Mobile/Eastern Shore AL real estate, please call me at 866-560-7474 or visit JudySells.com. 

Mobile Eastern Shore AL Real Estate Sales May Rise Modestly Before Marked Increase in Late 2008

A modest gain in the level of Mobile/Eastern Shore AL real estate sales is possible over the next couple months, and an improvement is forecast for the second half of this year as more buyers are able to access affordable mortgages, according to the latest forecast by the National Association of Realtors®.

 

The Pending Home Sales Index,* a forward-looking indicator based on contracts signed in April, rose 6.3 percent to 88.2 from a reading of 83.0 in March. It’s the highest index since last October, but remains 13.1 percent lower than April 2007 when it stood at 101.5.

Lawrence Yun, NAR chief economist, said pending sales contracts have picked up notably in areas undergoing significant price drops. “Bargain hunters have entered the market en masse, especially in areas that have experienced double-digit price declines, but it’s unclear if they are investors or owner-occupants,” he said.

 

This is a great time to consider buying Mobile/Eastern Shore AL real estate.  To learn more about the current Mobile/Eastern Shore AL real estate market, please call me at 866-560-7474 or visit JudySells.com. 

Mobile AL Real Estate Tip: Questions To Expect From Your Lender

Before lending you a large sum of money to purchase a piece of Mobile AL real estate, it is understandable that your lender will want to know a little bit about you and your ability to pay back the loan.  If you are a first-time homebuyer, or if it has been a while since you last spoke with your lender, it is helpful to be prepared for some of the questions you may be asked and to have some responses in mind.  Below are some general examples of questions you may expect to hear when applying for a home loan:

 

Employment and income

•

Where do you work?

•

How much do you make?

•

How long have you been at your job?

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How is your income derived — steady salary or irregular income? (if it’s the latter, plan on providing more details so that you get a favorable interest rate)


Outstanding debts

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What recurring debts do you have?

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How much do you pay a month for auto loans?

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Credit cards?

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How much of your monthly pretax income do these debts consume?


Cash reserves and assets

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How much money do you have in the bank?

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How much will be left after you pay your down payment and closing costs?


Down payment

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How much money are you putting down?

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Is this your own money? A gift? A nonprofit agency grant?


Loan purpose

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Is this mortgage for a home buy or refinance?

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If it’s a refinance, do you want to take cash out at closing to pay off other debts?

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If so, how much?


Property use

•

Do you plan to live in the house?

•

Is it investment property?


Property type

•

A condominium?

•

A duplex?

 

In order to get the best possible interest rate and gain the trust of your lender, you will want to be able to prove that you’ve had steady employment (preferably with the same employer or in the same line of work) for two or more years.  You also want to avoid making any major purchases before applying for a loan – if a lender sees that you’ve just purchased an automobile last week, your debt-to-income ratio goes up and your ability to pay down a home loan goes down.  It is preferable to be making a down payment of at least 5% of the sales price with your own money and to prove that you have at least two months’ worth of mortgage payments in the bank; however, there are many programs such as Fannie Mae that require much lower down payments. 

 

To learn more about investing in Mobile AL real estate or for a referral to a reputable lender, please call me at 866-560-7474 or visit JudySells.com.  You may also request a complimentary relocation package here!

Buyers of Mobile AL Real Estate: Lock in Low Interest Rates NOW!

As I reported recently, Fannie Mae is now requiring only a 3% down payment on all loans processed through its Desktop Underwriter® program.  This is great news for buyers who can take advantage of this program.

 

If you are in the market for a conventional mortgage, however, the news may not be so promising.  As this article from the Real Estate Journal explains, mortgage interest rates are climbing again at an alarming rate, and it is in Mobile AL real estate buyers’ best interests to lock in a low rate now.  Due to fears of inflation, the average interest rate on a typical 30-year fixed loan has spiked to 6.02% from 5.82% in just a week. 

To see how this spike would increase your mortgage payments, consider this:  as a rule of thumb, for each $100,000 you borrow, an additional tenth of a percentage point on your mortgage rate will add about $2,300 to the total amount of interest you will pay over the life of the loan.  For example, on a $300,000 mortgage, the current increase will add $38 to your monthly payments. It will cost an extra $4,000 in interest over the total life of the loan.

To learn more about Mobile AL real estate, or for a referral to a reputable lender who can explain your options when it comes to interest rates, please call me at 866-560-7474 or visit JudySells.com.