Meridian Title Company Rock Island Illinois
a leading real estate title insurance companies in the Quad Cities
Yes. Like the video shows, lenders now offer several affordable mortgage options which can help first-time homebuyers overcome obstacles that made purchasing a home difficult in the past.
Lenders may now be able to help borrowers who don’t have a lot of money saved for the down payment and closing costs, have no or a poor credit history, have quite a bit of long-term debt, or who have experienced income irregularities.
A short sale is something that occurs when a homeowner is not able to make the mortgage payments on time due to a financial hardship. Instead of foreclosing on the property after one or more missed payments, the bank may agree to allow the homeowner to turn the home over to the bank, which will sell it to as close to market value as possible.
Here’s what you need to know about how short sales work and what circumstances might call for one.
Step 1: The Homeowner Provides Information To The Bank
The first step in the short sale process is for the homeowner to submit an information package to the bank. The homeowner will provide information such as the reason for the short sale, an authorization letter allowing the real estate agent to talk to the bank, and a financial statement. In addition, the seller may need to provide an HUD-1 statement as well as a list of comparable homes in the area.
Step 2: The Buyer Makes An Offer
Once the house is put on the market, a buyer can make an offer just as he or she would on any other home. The seller will then have the opportunity to accept any offer that he or she receives from a prospective buyer.
Step 3: The Bank Makes A Decision About The Offer
Once the seller accepts an offer to buy the home on short sale, the seller is responsible for sending information about the sale to the bank. Before the sale is finalized, the bank must approve the buyer’s offer. It could take as little as two weeks or as long as 120 days for the bank to approve the offer.
However, not all short sales are immediately approved. The seller’s bank bank might decline the buyer’s offer for one reason or another. A bank may decline a short sale offer if the bank negotiator thinks the house is worth more than the buyer’s offer or if the seller violates a clause in the short sale agreement – such as moving out of the property and violating a clause that states only owner-occupied properties are eligible for short sale.
Buying a home that is being sold as a short sale requires patience and an ability to move at the bank’s pace. Working closely with an experienced lender or mortgage broker may make it easier to get through the process without a lot of hassle or drama.
Have you made it your New Year’s resolution to find that perfect home for you and your family? You might have thought that you needed to wait until spring to start house shopping, but the fact is that January is a great time to begin.
Put on your winter jacket and get out there while the leftovers from the New Year’s party are still in the fridge – you’ll have the upper hand.
House hunting in January offers a number of advantages that will work in your favor. Here are some of the main reasons:
Busy Social Calendars
First of all, most other people will be busy with parties, holidays and getting back to work after Christmas and they won’t want to venture out in the cold weather to go look at houses – so there will be less competition when bidding on homes.
This means that you can get in there and put in an offer that the seller can’t refuse.
Determined Seller
Also, if the home is on the market at this time of year, there is a chance that the home sale is somewhat urgent.
If they were not as determined, they might pull their home out of the market and wait until spring to try again. With a motivated seller you are more likely to get a better price.
A Dedicated Real Estate Agent
Your real estate agent will have more time on their hands at this time of the year, because they will be less busy. This means that they will be able to dedicate more attention to you and help you move through the closing and moving process faster.
Cheap Deals On Furniture
Also, during the month of January, retailers will sell off their excess inventory from over Christmas in order to make room for the new models. This means that when you move into your new home you will be able to furnish it at a great discount.
These are just a few of the reasons why you might want to consider getting out this January and searching for your new home. House hunting during this time of year can offer you a number of advantages and you could possibly find that dream home you have been looking for at a great price.
For more helpful tips, contact your trusted real estate professional.
After all of the excitement of the holidays, the sparkle of the lights and the overstimulation of decorations, the rest of winter can seem lackluster. Don’t let your home add to the dreariness of the season.
Spruce up your curb appeal with the tips below and inspire your neighbors to create well-groomed street that will make driver’s passing through smile.
Tend The Plants
If you’re currently located in a winter wonderland, then dig up any dead plants that won’t grow back. Replace them with cold-loving flowers, such as snowberry or lambs ear.
In warmer climates, this is the time for any landscaping changes you’d like to make. It will give your plants a chance to flourish by spring and have solid roots before the harsh heat of summer.
Light The Way
With daylight hours dwindling, well-placed outdoor lighting will help highlight your home’s best features in the evening.
Not only do they make your home look warm and cozy, but they also provide much-needed walkway lighting so that your guests arrive safely.
For a festive New Year’s sparkle, wrap white lights around the porch and in the trees.
Create A Custom Mailbox
Reclaim a vintage mailbox or get creative with paint to let the neighborhood know your family’s favorite sports team. A personalized letterbox says a lot about your household, so make it something special that doesn’t look like every other box on the street.
Also, visitors trying to find your home always appreciate large, easy-to-read address numbers visible from both directions.
Place Pots Strategically
Create focal points with terra cotta or colorful pots. Place them around your door to make a cozy entrance. Use evergreens and holly to give the curb appeal of your home a wintry feeling or brighten up a dark doorstep with cheerful pansies.
Paint Your Front Door
Perk up your curb appeal when the weather is dreary by painting your front door in a color that packs a punch. Try a vibrant red, bright blue or sage green. These colors will make your home feel warm and cheerful. However, don’t apply paint if the weather is below 40 degrees, because it will dry brittle and crack.
Anyone preparing their home for sale can get focused on all the little updates they need to make before it’s ready to be put on the market. However, once the property is listed, they usually just sit back and wait for the offers to roll in — which can be disappointing.
For A Fast Sale
Real estate agents know that the work never stops. Below are insightful tips from property experts to create buzz around your house and get it sold quickly!
Bait Buyers With Visuals
Most buyers do their preliminary searches online, so this will be their first impression of your place. Hire a professional photographer if your photography skills are lacking. Or, take it one step further and have a virtual tour video made — the extra effort might clench the deal.
Create An Online Social Life
Just posting your home online might not be enough to attract buyers. However, if you give it a persona on Facebook or tweet about its beautifully refinished hardwood floors, you’ll reach more potential buyers and establish an emotional connection before they ever set foot inside.
Be Flexible
If the market isn’t cooperating with your current strategy, then be prepared to change it. This could mean dropping the price, hosting impromptu open houses or even taking the property off the market for a couple of months. Be sure to stay abreast of local selling trends by speaking with real estate agents and tracking area comparable.
Spread It Through Word Of Mouth
Enlist the help of all your friends and family to help spread the word. Put flyers out front and pass them around to all of your neighbors — they might want their friends to move in down the street. Also, let local real estate agents know your house is available.
To get your home sold quickly, take the advice above from successful professionals who know that no effort is too small when it comes to the real estate game. If you’re getting ready to put your house on the market and would like more selling strategies, please call your trusted real estate professional.
When you sell your home, you want it look as good as possible. To do this, your real estate agent will help you stage your home or, if needed, help you find a professional to stage your home.
This means de-cluttering your home, re-arranging furniture, and de-personalizing each room.
A staged home is more appealing to buyers and helps to highlight your home’s positive features. However, staging is not meant to cover major flaws in your home. Some things just have to be repaired.
Roof Problems
It doesn’t matter how pretty your home is, your buyer is going to expect you to fix roof problems or adjust your price to cover them. Your roof is one of the most important parts of your home.
Cracked Tile
Of course, you can use throw rugs to cover cracks in your tile, but chances are your buyers are going to look under them. Then they may think you are trying to hide a serious problem like a shifting foundation. Save yourself the headache and have your floors fixed.
Broken Windows
You have to expect your buyers to walk around your home checking out the views from the windows. They’re going to notice any cracks. If you have the budget, consider upgrading your windows and making your home more marketable. At the very least, you should have the glass replaced.
Torn Screens
If you have torn screens, your buyers may think you don’t take care of your property. Yet, screens are fairly easy to fix on your own. With the right supplies from your local hardware store, you can have new, sleek screens in less than a day.
As your agent, I will make sure your home is ready to sell fast. Call your trusted real estate professional today.
Home inspections are a tense time for everyone. Sellers are fervently hoping that nothing major is wrong with their home that could hold up the transaction.
Buyers are eager to hear that their new house is in prime condition. Whatever the wishes, one thing is for sure; any news from an inspector is usually bad news.
Home inspectors have a tough job. They have to be trained to spot hundreds of potential issues with a home and be knowledgeable of local codes, community restrictions and residential permit parameters.
Stay one step ahead of your home inspector by reading the list of common home inspection issues below. Then hopefully your inspection won’t reveal any unwelcome surprises.
Electrical Wiring
This is a common bubble-busting issue, especially in older homes. Wiring might have been up to code when the home was built, but it now violates code and is a fire hazard.
Look for ungrounded outlets, shoddy wiring or a mass of confusing connections in the electrical panel. Replacing an entire electrical system can be expensive, but it’s worth it not to risk a fire.
Plumbing
Look for signs of water damage in the ceilings. This could be a sign that something above, like a bathtub or sink is leaking into the floor or walls. Look around toilets and inside kitchen cabinets for traces of wet flooring or wood.
While external leaks are easy enough to fix, interior pipes might require you to rip up flooring.
Foundation And Framing
Examine the foundation and framing of your home for any structural issues. You’ll want to keep an eye out for cracking in the foundation due to water runoff or settling. Also, look for signs of wood rot or termite damage.
These issues affect the framing of your home and could cause scary structural problems if left unattended.
Roofing
While it’s probably too difficult for you to inspect the roof yourself, just stand back in the yard and see if you can notice any bare spots. Also, check for water damage around the roofline from rain leaking in. Don’t get too discouraged about roof issues. It might not call for a complete replacement, but just a repair on one section.
These common home inspection issues affect both sellers and buyers. As a buyer, you’ll want to keep a eye out for these problems so that you know what you’d be getting for your hard-earned money.
As a seller, it’s good to stay one step ahead of the home inspector so that whatever price is agreed upon goes through.
When you own a home, there are additions that you can make to the property that will improve the value of your home. For example, a newly renovated kitchen or bathroom is a popular choice that will really make the home more desirable to buyers.
Also, adding storage space or a well-thought-out family room or other practical space can be a very good investment that will bring up the home’s value.
However, there are other projects that are not really worth your time or money and will allow very little opportunity to recover your costs when it is time to sell the property. Here are a few examples of things that you think might add to the value of your home, but really don’t.
An Elaborately Landscaped Garden
A beautifully landscaped garden might make the home more visually attractive to buyers when they are looking at the property, but it will not likely add to the selling price.
This is especially true if the new buyer is not interested in putting in the effort to keep the garden well-maintained and sees it as a burden. If they don’t have time to do the landscaping, they will need to hire a gardener which will add to their expenses.
A Hobby Specific Room
Are you tempted to convert a bedroom into a room that is specific to one of your particular interests, such as an art studio, a library or a wine cellar? This will not add a lot of value to the home, because the next buyer is not likely to share your passions.
It might even make the home less than desirable, because the next owner will not want to spend the time and money renovating the room back into a bedroom.
You can create a hobby room; just make sure that you make non-permanent chances to the room so that you can quickly and easily switch it back to a bedroom.
A Renovated Garage
Redoing your garage and turning it into a family room or a play room might give you a short term benefit, but you might regret it when you go to sell the home. Most people want a garage to serve its original purpose – as a place to protect their cars from the elements and store their shovels, garbage cans, leaf blowers and other outdoor things.
These are a few examples of home additions that will not add to the resale value of your property. To find out more about selling your home, contact your real estate professional.
When it comes to selling your home, curb appeal refers to the “first impression” that your house gives when a buyer approaches it from the driveway or the street.
Does your house look attractive and inviting, or does it appear rundown?
First impressions are important and even if the inside of the home is perfect, the outer appearance can really affect a buyer’s perception.
If you are trying to sell your property, you have probably mowed the front lawn and even planted flowers in order to improve your curb appeal. However, could you have over looked one of these common curb appeal mistakes?
Cheesy Garden Gnomes
You might think that your decorative lawn ornaments are cute, but your potential buyers don’t necessarily have the same taste. If you have a few gnomes living in your garden, you might want to hide them away for a while when your home goes on the market.
Dark Pathways
Your potential buyers might want to visit your home in the evening, so make sure you invest in some outdoor lighting to guide their way to your front door. A poorly lit front walkway will not make a good first impression.
Dying Flowers
Adding flowers to your front yard can improve your curb appeal, until the seasons change and they begin to go brown and whither. Do your best to keep up with the garden maintenance throughout the year so that everything still looks fresh.
Children’s Toys
If you have little ones, your yard is probably filled with discarded Frisbees, tricycles, skipping ropes, sidewalk chalk and other toys. Before showing your home, make sure that all of these are tidied away.
Your potential buyers might not have children and might not be fond of them, so they want to be able to see what the lawn and the garden will look like when it is not covered in brightly coloured plastic.
These are just a few of the curb appeal mistakes to avoid, so that your home looks as appealing as possible. For more home real estate tips, feel free to contact your real estate professional.
Words are powerful and when you are selling your home, the words that you use in your real estate listing can really impact the first impression that the property makes on potential buyers.
Whether you are writing the real estate listing, or the house is being promoted by a real estate professional, it is important to use the right words to convey the meaning that you intend.
This is especially true when you only have room for a short description, as every word counts.
Here are a few words to use in your description that will really bring positive attention to your real estate listing:
“Within Walking Distance Of…”
Can you walk from your home to the supermarket, the local pub, the shopping mall, the elementary school or the dog park? If so, make sure you advertise this on your real estate listing!
Buyers are looking for homes that are accessible to the major amenities that they use in their everyday lives, because this saves them time and money on fuel and is more convenient.
“Plenty of Storage Space”
Let’s face it, as a nation we tend to be hoarders. Many people have an incredible amount of stuff and they need a house that has enough room to store it all.
A home with plenty of well organized closets and storage space will be desirable, because it will suggest a comfortable and well organized living environment rather than a cramped and cluttered existence.
“Move Right In”
If your home is fully finished and doesn’t require any renovations, make sure that potential buyers know this. A home that is in “move in condition” will be very desirable to some people who don’t want to take on the headache and hard work of a fixer-upper.
“Light and Spacious”
We are attracted to bright open spaces and floor plans that have a comfortable flow, rather than small and dark compartmentalized hallways and rooms. If your home has a lot of natural light and an open floor plan, this is a great attribute that you should highlight in the listing.
To find out more about listing your home and generating interest in your property, contact trusted real estate professional today.