By Amy Nutt

Introduction

So, you’ve just purchased a house? Congratulations! In many areas of the developed world, the ownership of property is a sure indication that you have arrived onto the ladder of financial success. So it is certainly good news that you have bought a house. Even under normal circumstances, now would be the time to pause and reflect while planning your next move. With the economic times as they are currently though, it is definitely an important thing for you to step back for a moment and take a look at things as they are right now.

Check the Finances

The first thing that you want to do is check the finances to make sure that they are okay. If you purchased the house before the worst of the economic storm hit, you definitely want to check the finances in order to make sure that you bought a house that you can actually afford. You don’t want to end up out of money and dead broke because of the payments on the house, so this is definitely something that you want to check out.

If you are afraid of the bank potentially increasing the interest rate to ridiculous proportions, you should pay close attention to the interest rate. If you have a variable rate mortgage and this is something that is really keeping you awake at night, you should consider renegotiating that rate in order to get the peace of mind. Renegotiate it to a fixed interest rate and this is a problem that goes away. The downside is that you will almost certainly pay more with a fixed interest rate than you would with a variable, but there is no danger of your interest rate skyrocketing during particularly bad economic times.

Check the House

Now that you have made the purchase, now is the time to have one last look around the house to make sure that there are no problems that you have not missed before purchasing the house. Ideally, you’ll have wanted to do this at least one or two times before agreeing to buy the house, but you should still do it now in order to make sure that you have one last chance to cast any nasty surprises before they announce themselves to you at some future point in time.

This is not to say that you will actually be able to recoup your money if it turns out that there is indeed something wrong with the house. In fact, all odds are that you will not be able to sell the house quickly or annul the buying agreement even if you find something now after searching for it before. Still, if you find something now you can fix it before it becomes a really big problem, so look around anyway.

Move in and Relax

Now that you have taken a deep breath, stepped back and analyzed the situation in the post-purchase moments, you are ready to enjoy your new house. Once again, congratulations on making this great purchase.

By Adriana Noton

Purchasing a new home comes with a lot of responsibilities. For most people, it will be their biggest and most important life investment, so you need to be aware of what is involved with such a large purchase in order to ensure that you have made the right decision.

The following is a list of factors to consider when buying a new home:

Determine Your Home Requirements: Before you purchase a new home, you should consider what type of home will be needed for your present and future needs. Do you have a family or will you be expanding your family in the future? How many bedrooms and bathrooms will you need? As well, what type of environment do you want to live in? Do you prefer a rural community or more urban. You also have to look at such areas as proximity to schools, retail stores, and work. As well, do you want a condo, duplex, or a home with a large property? You have to make sure you have considered all housing options. This will help narrow your search.

Financing Options: Financing is a major factor to take into consideration when buying a new home. The majority of new home buyers will have to get a mortgage. You must determine how much of a mortgage you can actually afford. Consider visiting a mortgage site and using their mortgage calculator. This tool will give you an estimate of how much you can actually afford. Remember you have to consider added expenses such as legal fees, closing costs, building inspector fees, title transfer fees, taxes…etc.

Mortgage Pre-approval: Before you find a new home, you should get a mortgage pre-approval from a trustworthy lender. This will help you narrow your home search. First, make sure you have a clean credit history. Check for any errors on your credit report and have them corrected. Pay off any outstanding bills. Comparison shop for a mortgage lender as mortgage products will vary. Consider whether you should get a fixed rate or variable rate. As well, look at the pros and cons of a 15 year and 30 year mortgage.

Hire A Real Estate Agent: Real estate agents have a great deal of knowledge about the housing market. They have knowledge of the community and their resources and amenities, the value of the other homes in the neighborhood, whether the price of a home for sale is fair, and how to properly make an offer and counter offer. They can also show you homes that meet your needs. As well, a real estate agent will know of any important issues about the home, property, and community.

Home Inspector: It is important to get a home inspector to inspect the home you are considering buying. An inspector will be able to note any problems with the structural integrity of the home, foundation, roof, septic, plumbing, electrical…etc. You do not want to buy a home and find out you have an enormous repair bill.

Buying a new home is not only an exciting time in your life, but is also a time that requires much thought and planning. Considering the above factors when purchasing a new home will help ensure that you purchase a home that is not only right for you and your family, but also a home that you can afford.

By Adriana Noton

The majority of scientists and other experts now agree that human activity is having a negative impact on the planet. Global warming, increased pollution, and our diminishing natural resources have resulted in an urgent need to change our lifestyles. One way of creating a more sustainable environment is by building eco friendly homes.

By building eco friendly new homes we are protecting our forests and reducing the amount of toxins and green house gases being released into the air. For instance, bamboo is becoming popular as a source of wood for building homes. Bamboo is durable and it grows quickly therefore we are replenishing forests quickly instead of depleting them. As well, it absorbs four times as much carbon dioxide as most trees. Another method of obtaining wood is through harvesting wood from sustainable forests and from recycled wood. One should consider using ‘green’ lumber certified by the Forest Stewardship Council.

Acquiring furniture made from eco-friendly methods is another way of protecting environment. There are many companies that recycle old furniture into beautiful products. As well, waste wood from lumber yards and wood from sustainable forests are also used to make eco-friendly furniture.

For concrete foundations, fly ash, the residue from coal-fired power plants, can be used to replace at least half the cement used to make concrete. Utilizing fly ash reduces the cost of concrete, and produces a superior quality product.

One main source of indoor pollution is carpeting and rugs. They are known for collecting toxins, dirt, dust, pet dander, pollen, and bacteria. Using an eco friendly carpet made from eco friendly materials helps reduce the amount of indoor harmful toxins in the home.

Other methods of making a home eco friendly include:

• Make sure windows are air tight to reduce energy consumption.
• Use recycled and environmentally friendly insulation that do not contain any chemicals. Baled straw is a good choice.
• Bricks can be recycled and reused with very little processing and energy consumption.
• Concrete countertops made from recycled newspaper and fly ash
• Paint walls with an eco-friendly paint.
• Use energy efficient light bulbs.
• Install ventilation systems to remove dust, dirt, and toxins that are in the air.
• There are a host of energy efficient appliances on the market such as refrigerators, washers, water heaters…etc.
• Install cabinets that do not contain any toxic substances
• Install fans in the bathroom to remove moisture and install exhaust fans over the stove to remove gases.
• For flooring, use either cork, bamboo, hardwood from certified sustainable forests, or biodegradable linoleum.
• Install low flow shower heads and water conserving toilets.

According to the Worldwatch Institute, an independent organization that evaluates serious global issues, “one-fourth of the world’s wood and one-sixth of its fresh water are used in building construction.” More companies are now responding to consumers’ demands for an eco friendly lifestyle. Because there are now such a wide range of earth friendly materials available, building an eco friendly home is one way we can reduce our carbon footprint.

When building a home or garage, it is important to weigh the benefits of different types of construction methods to decide what would be best for you. One of the best options is building with concrete.

There are many benefits to building a solid concrete house and garage. The following are some examples of these benefits:

- Strength. Poured concrete forms a barrier to the elements and can be further strengthened by steel reinforcement. If you live in a part of the world where hurricanes or other serious weather conditions are a factor, concrete is less likely to be destroyed. With garages constructed from wood, they are usually destroyed for 2 reasons. The garage door is the weakest part of a garage, and in the event of a tornado or severe storm, it can be easily blown out due to wind speed and air pressure. Once this happens, the garage is likely to be destroyed completely and if the garage is attached to the house, the house may sustain significant damage.

- Beauty. With concrete, you have design flexibility as a house or garage can be built to any size or shape you want. You can also stamp patterns of any type in concrete. Creativity is not hindered by concrete. For example, did you know that the trunk and roots of the Tree of Life at Disneys Animal Kingdom at Walt Disney World is made from concrete?

- Fire safety. If you have a house fire, solid concrete can slow the spread of the flames giving you and your family time to evacuate to safety. Not only could this could mean the difference between life and death, it could mean the difference between having some repairable fire damage versus the loss of your home and its contents.

- Water damage prevention. Concrete construction has a greater resistance to water damage or leakage of any sort due to its solidity.

- Insect resistant. Insects are less likely to infest solid concrete houses or garages. Far more appealing to them are buildings made of wood, especially in the case of termites.

- Quiet and comfortable. Solid concrete houses are quieter than their wood-frame counterparts as the concrete acts as a barrier to sound. Additionally, the concrete prevents air leakage and slows down heat from escaping therefore a concrete home stays warmer in the winter and cooler in the summer. This can help keep utility costs low.

- Environmentally friendly. Concrete is environmentally friendly as the ingredients of concrete (water, aggregate, and cement) are abundant in supply. Additionally, the ingredients take a lesser toll in their extraction than other construction materials. Concrete is also energy efficient, has minimal waste and it lasts a long time.

Concrete is a medium of flexibility and nearly endless possibilities. The phrase ‘any size, any shape, any color’ can be used to describe concrete construction. These qualities and those listed above are why concrete is used more than any other man-made material or concrete pumping services in the world from ancient to modern times.

Concrete Pumping in Ontario provides the customers with trained, professional operators and reliable Concrete Pumping Equipment

Buying a new home is an exciting time in ones life. Because it is such a major purchase, you want to make sure that you have the knowledge to make the right decisions. It will make the home buying process much easier and will ensure that you have provided the best home for you and your family.

The following is a list of a number of tips that will help make your new home buying experience a pleasant one:

1. Make a list of what type of home will meet your current and future needs. This can include: the location, size of the property, number of bedrooms, size of the rooms, and proximity to schools, work, parks, stores, and other amenities. This will help you narrow your search. You should consider enlisting the services of a real estate agent who can help you find the right home at the right price.

2. Before you purchase a new home, you should decide if you can afford to take on such a big investment. You will be required to make a down payment. There are now 5% down payment deals available. Remember, the less money down means the higher your monthly mortgage payments. You will also be responsible for fees such as attorney fees, taxes, registration fees, closing costsetc. You also have to make sure you can afford the monthly mortgage repayments. In order to secure a good mortgage, you must make sure you have a good credit history. Check your credit history to see if there are any errors or outstanding loans that should be paid. It is essential that you purchase a home that you can afford. There are online mortgage calculators that will help you determine how much you can afford. It is also recommended that you get pre-approved for a mortgage before you actually start searching for a home. You will then not waste your time looking at homes you cant afford.

3. If you have children or are planning to have children, research the schools in the area where you are interested in living. You want to make sure your children will get a quality education. As well, living in an area with good schools increases the value of a home.

4. Before you make an offer on a home, make sure you hire a building inspector to inspect the home for any problems. An inspector should look at the foundation, plumbing/septic system, the structural integrity of the home, roofetc. The home inspection fee will can range from $300-650 depending on the type of house and its features.

5. It is important to have an attorney represent you for the closing. You will want to make sure that you are protected.

Purchasing a new home is a big life investment so it is important to make sure that you are familiar with all that goes into the purchase. This will help make the process run much smoother and less stressful allowing you to focus on starting a new life in your very own home.

We commit to high quality services that offers a uniquely designed home that is tailored to your tastes. Ranging from luxurious interiors to fresh exteriors, our service is dedicated to providing a warm home for families and individuals. Asides from home building, home improvement is also highly emphasized.

Buying a bank owned (REO) property is a much different process than a traditional listing and it is imperative that your Realtor know the difference. If your Realtor is not aware of the differences, they could not only cause you to lose the property, but also cost you money in the process. Let me explain.

Banks have complete control when it comes to a bank owned property. They make their own rules and follow no disclosure requirements. Typically they will have a potential client sign something called an addendum, which basically takes away the protections a buyer may have, and gives them sole power in the decision making.

They will give you a timeline you have to follow, or more likely then not there will be repercussions. They really unfair thing about it, is that they don’t have to respond to anything or anybody until they are good and ready. For an example, I myself have a bank owned property being held in escrow at this moment, on which I was approved for well over a month ago. However, the bank didn’t even open my escrow until almost three weeks into the thirty day stint.

We didn’t get a copy of the signed contract or bank addendum until three weeks into the deal. Of course, the bank addendum we signed at the beginning of the transaction had us agree to pay a $100.00 per day per Diem for every day we went over the 30 days agreed upon in the contract.

Of course the bank took their time, and never completed anything in a timely fashion, causing us to not be able to meet the deadline. As you may already know, the majority of short sales do not close with a hitch. A short sale doesn’t have to be a terrible experience, but if your Realtor doesn’t put in the time and effort, it will end up being just that. By the same token, REO’s can end up the same way. In my case however, my Realtor assured me that everything was moving along smoothly, and we were just waiting for a response from the bank.

Article submitter B. Stein has much experience shopping new homes for sale plus properties overall. Check out his other articles on the internet.

Recently I got into a bit of a hassle with some REO per diem ridiculousness and delays. I thought it might help someone out there to share a bit of the details.

Obviously, we decided to proceed with our offer on the cabin, knowing it would probably be a prolem if we did not. This is where my experience came into play. I have had this happen to me numerous times on bank owned purchases and I have learned that my buyer just needs to forget about the bank and make sure he does everything he needs to do to stay on track.

Getting out of paying for that per Diem is as simple as keeping on track and proving the delay was not of our doing. I stayed on top of the inspections making sure they were completed in a day period, and that my Realtor had the termite inspection done as well. Luckily since my client is purchasing this property with cash, we did not have any issues with the appraisal. It works a little differently if someone is buying a house with a loan from the bank, because you need to be in direct contact with the lender the whole time making sure an appraisal is completed on time.

If at all possible, you do not want anything going wrong in the last moments. Things typically will not always go completely the way you would like them to, but as long as you do everything you are required to do, they will turn out just fine. Most banks don’t have the ability to know what is going on every step of the way. It always appears that they kind of just hang around waiting for something to happen.

It hasn’t been uncommon for me in the last few years to witness banks doing something that is just out of sorts. You will rarely find a bank transaction that actually goes all the way through the process without a glitch. The key it to hire a bright, informed realtor to help you have a successful experience.

Author Amy Brynn has much experience shopping property listings plus real estate in general. Check out her other posts online.

Let me tell you about how I wrapped up a deal involving a short sale that was going nowhere fast…

I knew it would only be a matter of time before this property would again be on the market as a bank owned property. I encouraged my eager clients to be patient, and that I would be consistently searching all of the MLS listings until I came across their desired property again. Within a little over a week, my hunch was confirmed when I came across the same cabin, now listed at $130,000 and as a bank owned property. I called my clients within minutes, informing them of the fantastic news, and we wrote an offer for $115,000 cash that day.

The bank responded rather quickly with an offer of $117,000, and my clients joyously took them up on it. We also got lucky in the fact that the bank repaired the broken pipes underneath the house, and more then likely the original owner wouldn’t have done the same. All in all, the bank did not follow through on the offer when it was listed as a short sale.

After the bank took ownership of the property, we were able to settle on a fantastic offer, and get a few repairs out of the deal as well. The second time I came across this situation it was very similar to the first. My clients in this situation, made an offer of $340,000 on a property listed as a short sale, and priced at $389,000. Again we played the waiting came for over two months while the bank had the house reappraised and had numerous BPO’s completed.

The end result was the bank declining our offer and allowing the house to go into the foreclosure stage. Again, I patiently watched and search the MLS listings until I came across the house listed as a bank owned property, and priced at 390,000. I agreed with my clients that the house was extremely over priced, and thought we should wait with the hopes of the price dropping. After we waited two weeks and the house still hadn’t been sold, we decided it was the perfect time to make another offer.

We made a generous offer of $333,000, and sat back waiting for a response from the bank. Within a day, we heard back from the bank, and they had declined our offer again. After another week went back, and numbers were tossed around, we made a final offer of $339,000 and had it put into escrow. In conclusion, we again were able to get a better price, in a faster amount of time, when the homes we were interested in, were bank owned.

Submitted by: D. Troy has much experience shopping a house for sale plus homes for sale in general. Check out more of his articles on the web.