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Tagged : house

Found 6 blog entries tagged as "house".

unkind

COEUR d’ALENE — Chad Mitchell is seeing the problem right up close.

“My parents could sell their house and walk away with something like $100,000,” said Mitchell, an agent with Century 21 Beutler & Associates in Coeur d’Alene. “You know, downsize and have that money to enjoy life.

“The market is going up, so they could get a good price. But what then? They sell, and unless they want to leave town, they’d be walking right back into the same housing market.”

Here is the issue that faces Mitchell’s folks and millions of other house-seekers nationwide: Baby Boomers are not selling homes, for those reasons facing the Mitchells but often because they’re comfortable and just don’t want the hassle. Some are still working, but it’s generally at home

421 Views, 3 Comments

family

The National Association of Realtors (NAR) keeps historical data on many aspects of homeownership. One of the data points that has changed dramatically is the median tenure of a family in a home, meaning how long a family stays in a home prior to moving. As the graph below shows, for over twenty years (1985-2008), the median tenure averaged exactly six years. However, since 2008, that average is almost nine years – an increase of almost 50%.

graph

Why the dramatic increase?

The reasons for this change are plentiful!

The fall in home prices during the housing crisis left many homeowners in a negative equity situation (where their home was worth less than the mortgage on the property). Also, the uncertainty of the economy made some homeowners

372 Views, 2 Comments

tools

It's often a mad dash when sellers are working to get their home on the market or even to just clean up ahead of a showing. But some common cleanup tools can actually do more damage than many people realize. HouseLogic identified a few common products that can create big problems, so you can be the expert your clients need and help them protect their investments.

  1. Bleach is a common cure-all, but this caustic chemical can eat through the sealant on stone surfaces, discolor laminate and grout, fade enamel and acrylic tubs, dissolve linoleum, and corrode seals in a garbage disposal. While it does kill mold on nonporous surfaces, it can create a future feeding ground for mold on absorbent and porous materials, such as grout. Instead, advise clients
539 Views, 3 Comments

I know a lot you may have the same question, "Should I keep renting?" 

Well, I hope this informative chart by Ginnie Mae can help you answer that question:

 

The chart below shows a cost comparison for a renter and a homeowner over a 7 year period.

The renter starts out paying $800 per month with annual increases of 5% The homeowner purchases a home for $110,000 and pays a monthly mortgage of $1,000

After 6 years, the homeowner's payment is lower than the renter's monthly payment

With the tax savings of homeownership, the homeowner's payment is less than the rental payment after 3 years

 

 

Source: Ginnie Mae

 

Also, check out THIS rent vs. buy calculator that takes into account where you are currently renting to get a

448 Views, 0 Comments

To avoid surprises before you buy a new home look at the following:

  • General structure: Is the house tilting to the right or is it nice and straight?
  • Roof line: Is it nice and straight or do you see the roof “sinking” at places?
  • Foundation: cracks in the foundation can be fixed fairly easily.  However, you should look for bulging foundation walls. Bulging is a possible sign of major repair (costly one).
  • Water pressure: The pipes could be clogged and old or maybe you need to upgrade the water service.
  • The sump pump: Is there a sump pump in the basement? It is good to have one, and if it is not there you might want to install one. And it’s not just a sump pump, you need to dig concrete around the perimeter of your
445 Views, 0 Comments

We have all seen some of those HGTV shows where a couple buys a home with a plan to redo the kitchen, bathrooms, etc. In return for all this work, they spend less money upfront on the purchase, and possibly get some sweat equity after doing the work themselves.  This all sounds great when you are watching it on TV thinking to yourself,  “Oh yea, I could totally do that”.  However, in real life it is a bit more complicated and sometimes you may discover even more of a headache than you had expected.

It all starts with your budget.  First, you buy the house (the easiest step in the process).  Then, considering you got a good deal in a good location you are already headed in the right direction. 

Now, you have to figure out how you are going to get

475 Views, 0 Comments

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