Realtor Disclosure

How to Find the Perfect Home

Finding the home of your dreams can sometimes be overwhelming. Here are some helpful things to look for when trying to find the perfect place.

First, Get prequalified for a home loan. There’s no sense in looking at homes you can’t afford. Find your price range and stay within it.

Write down the features you require in a home, such as number of bedrooms and bathrooms, garage, formal dining room, family room and living room or great room, and the size of yard. These should be the items you absolutely cannot live without.

Make a list of your preferences, such as the number of stories, the age of the home and amenities such as a pool or fireplace. These are the things that would be nice to have, but are not requirements.

See as many different homes in your price range as you can, either on your own or with a real estate agent. With each home you see, write down as many features and important items as necessary to help you remember the home. Consider how your belongings will look in each home. Will your furniture match or blend with the style and layout of the home? Or will you have to spend money on new furniture?

Take the plunge. There’s nothing as rewarding as having the perfect home.

Thanks E-How

Tips For First Time Buyers

Are you a first time buyer and currently looking to purchase a house? Here are some of the most helpful tips in becoming a homeowner for the very first time.

Check the selling prices of comparable homes in your area. Web sites such as Zillow and Homegain can give you a general idea of what you should expect to pay. You can also do a quick search of actual MLS listings in your area on a number of Web sites, including the site of the National Association of Realtors.

See what you can afford. Use Bankrate’s  mortgage calculator to see what your payment would be. To get a sense of the maximum you should spend, use MSN Real Estate’s home affordability calculator.

Find out what your total monthly housing cost would be, including taxes and homeowners insurance. To get a feel for the maximum amount you should spend, including taxes and insurance, use MSN Real Estate’s home affordability calculator. In some areas, what you’ll pay for your taxes and insurance escrow can almost double your mortgage payment. According to the Insurance Information Institute, the average yearly premium can range from $477 in Utah to $1,372 for unlucky Texans.

Find out how much you’ll likely pay in closing costs. The upfront cost of settling on your home shouldn’t be overlooked. Closing costs include origination fees charged by the lender, title and settlement fees, taxes and prepaid items such as homeowners insurance or homeowners association fees. You can see what closing costs average in your state by looking at Bankrate.com’s annual closing cost survey.

Look at your budget and determine how a house fits into it. Fannie Mae recommends that buyers spend no more than 28% of their income on housing costs. Go much past 30% and you risk becoming house poor.

Talk to reputable real-estate agents in your area about the real-estate climate. Do they believe prices will continue falling or do they think your area has hit bottom or will rise soon?

Remember to look at the big picture. While buying a house is a great way to build wealth, maintaining your investment can be labor-intensive and expensive. When unexpected costs for new appliances, roof repairs and plumbing problems crop up, there’s no landlord to turn to, and these costs can drain your bank account.

So consider whether you’re ready for the expense and effort of homeownership before pulling the trigger.

Tips for First Time Home Buyers

Mortgage Rates on the Decline

It’s no secret that mortgage rates have been on the rise over the past few years. However now is the time to get back into the pool, as rates seem to be on the decline once again.

Both Freddie Mac and the Mortgage Bankers Association reported that all mortgages rates declined for the week the decreases were very modest.

The Mortgage Bankers Association also reported across-the-board declines. 30-year and 15 year rates were 5.74 and 5.31 percent, down from 5.75 and 5.33 percent respectively. The one-year ARM declined .01 to 4.14 percent.

MBA reported that the Market Composite Index, their measure of mortgage loan application volume, increased 0.2 percent on a seasonally adjusted basis and 0.7 percent unadjusted from the previous week but was still 8 percent lower than at the same time in 2004.

Refinancing applications as a percentage of total mortgage loan activity declined very slightly from the previous week, to 39.1 percent and the ARM share of loan activity also decreased to 33.4 percent of total applications from 34.7 the previous week.

In other news, Freddie Mac reported that total refinancing activity declined during the first quarter of 2005 but the percentage of homeowners who chose to use their refinance to draw equity out of their homes jumped sharply.

During the last quarter of 2004, 56 percent of refinances resulted in mortgages that were at least 5 percent greater than the loans that were being refinanced. In Q1 of 2005 that number rose to 65 percent. This represents the highest percentage of cash-out refinancing since the fourth quarter of 2000. Total equity cashed out in the quarter was estimated at $46 billion, up from the revised cash-out estimate of $41 billion in the last quarter of 2004.

Freddie Mac’s deputy chief economist Amy Crews Cutts estimated that there would be a total of $112 billion in cash drawn down from home equity by first lien refinances in 2005.

In the first quarter the median ration of old-to-new interest rates was 1.13, meaning that new mortgages carried a rate 13 percent lower than the mortgage that was refinanced.

Homeowners refinancing during this period saw a median house-price appreciation of 16 percent during the period they held the original loan. The median age of the loan being refinanced was 2.4 years.

Mortgage News Daily

Common Do-It-Yourself Mistakes

Every home improvement project or fixer rehab has its ups and downs, and there are plenty of mistakes to go around. Nobody is immune. But avoiding costly mistakes involves more than memorizing catchy-but-important phrases such as “Measure Twice, Cut Once,” or “Lefty-Loosey, Righty-Tighty.”

Sometimes, do-it-yourselfers (DIYers) get stung before they ever get moving on a remodel. It happens primarily for two reasons. Because they paid too much or they bought a house in the wrong neighborhood — slammed up against the freeway, next to railroad tracks or that lone single-family nestled in a row of commercial.

You can avoid both these problems by looking at comparable sales for the neighborhood before you buy and asking about the drawbacks of the location. If you don’t want to live under a flight path, the chances are a new buyer won’t either. Remember, the best time to think about selling is when you buy. Because the most beautiful remodel isn’t going to pay back in spades if your property backs up to the city dump.

Many DIYers shy away from obtaining permits because they worry about the expense or think they don’t need a permit. Some cities issue permits based on political reasons, and some may appear unnecessary, but get a permit anyway, because it’s against the law if you refuse to comply and it’s required.

Here are more reasons:

• Inspectors will help to ensure the job is done correctly and to code.
• Many buyers don’t want to buy a home that has had work done without a permit.
• If your neighbor reports you to the city and an inspector discovers you have completed work without a permit, you might be required to tear it apart and start over.

Overly zealous DIYers often think it will take less time to complete a job than is necessary. Prepare a calendar, day-by-day, outlining each portion of your rehab and how many hours it will take to complete. This will keep you on a tight schedule and give you a realistic time frame from start to finish.

For example, a tiling job cannot be completed in one day.

• First, the mastic is applied, tiles are cut and laid. The area needs to cure and dry at least 24 hours.
• After the tiles are set, you will grout.
• You still need to wait another day to walk on it.

If you’re afraid of heights or unsteady in high places, don’t install a roof. Life is short and then you die. Hire somebody else to do it. Before you tackle a job, think about the job from its inception all the way through to its completion. You don’t want to reach the halfway mark and discover you can’t finish.

Some projects require more than one person. It’s hard to hang drywall on a ceiling by yourself, even with a deadman prop. Pay attention to the weight you lift; it may wreck havoc on your back or throw you off balance.

excerpt from

Real Estate Malibu Home

Real Estate Malibu Home

This wonder real estate malibu home is nestled in the quiet, wooded-area, this elegant 5-bedroom home will welcome any home buyer. Situated on 2-acre lot, the backyard boasts a built-in swimming pool, children’s playground and a brand-new paver stone patio.

Real Estate Malibu Property

Amazing Real Estate Malibu Property

Property Features

• Detached, single family contemporary home built in 2005
• 12 total rooms, with 4 bedrooms and a master bedroom
• Oversized kitchen with stainless steel appliances
• Interior features include 9′ ceilings, loft and skylights

Room Dimensions

• Kitchen – 18×12
• Family Room – 25×18
• Living Room – 18×18
• Dining Room – 14×16
• Master Bedroom – 24×20

Real Estate Malibu Beach

Real Estate Malibu Beach

Property Features

• Detached, single family contemporary home built in 2005
• 12 total rooms, with 4 bedrooms and a master bedroom
• Oversized kitchen with stainless steel appliances
• Interior features include 9′ ceilings, loft and skylights

Room Dimensions

• Kitchen – 18×12
• Family Room – 25×18
• Living Room – 18×18
• Dining Room – 14×16
• Master Bedroom – 24×20