Evansville, Newburgh IN Real Estate Blog

Wednesday, December 11 2013

Easy Mistakes For First-Time Home Buyers To Make

According to the National Association of Realtors^®, nearly 40% of home buyers will be first-timers this year. In other words, if you are new to the housing market you are certainly not alone. Since first-time home buyers in Evansville experience the same learning curve as anyone everywhere, reviewing some of the more common missteps can spare them some of the angst those common mistakes cause. Some examples:

1) They Don’t Check Their Credit Score

New home buyers focus on the seller’s asking price, but don’t realize how greatly their credit score will affect how much they actually pay. They know their score is important to qualify for a home loan, but not how a low credit score can result in a higher down payment and interest rate. A single percentage point of higher interest over a 30-year timeframe is…you get the picture! The takeaway? Start improving your credit score as soon as possible.

2) They Don’t Lay Out a Budget

First-time home buyers frequently don’t realize the impact of secondary costs. In addition to administrative, insurance and legal costs, there are also closing and other fees which can add 2%-5% to the purchase price. Add in property taxes and possibly monthly neighborhood homeowner’s association fees, and you can see why experienced home buyers first determine their maximum monthly budget figure — then stick to it.

3) They Don’t Double-Check the Neighborhood

Once you’ve set your sights on an exciting new home, it’s natural to quickly proceed to the purchasing details without second-guessing your choice. That’s all well and good — unless you have only visited it a few times, and all at the same time of day or day of the week. Make several return trips to the neighborhood on weekdays and weekends, daytime and nighttime: you want to be sure that your family will be comfortable with the neighborhood (and your future neighbors).

If this winter will find you searching for your new house, I want you to know that I’m here to help my clients every step of the way. Calling me for a consultation is your first step! You can reach me on my cell phone at 812-499-9234 or email Rolando@RolandoTrentini.com

Posted by: Rolando Trentini AT 09:00 am | Permalink | 0 Comments | Email

Wednesday, December 11 2013

Easy Mistakes For First-Time Home Buyers To Make

According to the National Association of Realtors^®, nearly 40% of home buyers will be first-timers this year. In other words, if you are new to the housing market you are certainly not alone. Since first-time home buyers in Evansville experience the same learning curve as anyone everywhere, reviewing some of the more common missteps can spare them some of the angst those common mistakes cause. Some examples:

1) They Don’t Check Their Credit Score

New home buyers focus on the seller’s asking price, but don’t realize how greatly their credit score will affect how much they actually pay. They know their score is important to qualify for a home loan, but not how a low credit score can result in a higher down payment and interest rate. A single percentage point of higher interest over a 30-year timeframe is…you get the picture! The takeaway? Start improving your credit score as soon as possible.

2) They Don’t Lay Out a Budget

First-time home buyers frequently don’t realize the impact of secondary costs. In addition to administrative, insurance and legal costs, there are also closing and other fees which can add 2%-5% to the purchase price. Add in property taxes and possibly monthly neighborhood homeowner’s association fees, and you can see why experienced home buyers first determine their maximum monthly budget figure — then stick to it.

3) They Don’t Double-Check the Neighborhood

Once you’ve set your sights on an exciting new home, it’s natural to quickly proceed to the purchasing details without second-guessing your choice. That’s all well and good — unless you have only visited it a few times, and all at the same time of day or day of the week. Make several return trips to the neighborhood on weekdays and weekends, daytime and nighttime: you want to be sure that your family will be comfortable with the neighborhood (and your future neighbors).

If this winter will find you searching for your new house, I want you to know that I’m here to help my clients every step of the way. Calling me for a consultation is your first step! You can reach me on my cell phone at 812-499-9234 or email Rolando@RolandoTrentini.com

Posted by: Rolando Trentini AT 09:00 am | Permalink | 0 Comments | Email

Monday, March 04 2013

Buyers Camp Out to Try to Snag New Homes

About 30 home buyers — all pre-qualified — have lined up in tents and camped out in order to be first in line for an opportunity to buy a new home in Huntington Beach, Calif. The homes are still under construction by Brightwater Capri development and are priced between $800,000 and $900,000.

The first home in the new development still doesn’t go on sale until March 2. Five homes are set to be released this weekend. Only pre-approved buyers on a first-come, first-served basis will be able to preview the homes.

The homes feature four bedrooms, ocean views, and range from 1,992 to 2,685 square feet. Buyers have 11 floorplans to choose from.

"If you want the opportunity, you gotta make the sacrifice," says Terry Torline, a hopeful buyer who is camping out. "Based on what's out there in the marketplace, it's a good deal right now."

Source: “Huntington Beach Homebuyers Camp Out for Chance at New House,” AOL Real Estate

Posted by: Rolando Trentini AT 08:00 am | Permalink | Email

Friday, December 21 2012

Questions Home Buyers Think About

One of the effects of the steady national rise in home prices is a shift in attitude by previously cautious consumers. It’s only natural to find more people focused on buying homes in Evansville while it is still relatively inexpensive to do so.

Homeowners who are listing their own local properties this winter are well advised to be mindful of those and other considerations bound to be motivating prospective customers. Buying homes – especially homes in a faraway locale – gives rise to many concerns. Positioning the way a home is marketed to anticipate those concerns can mean a sale to an out-of-town buyer on a local home-hunting trip.

Some of the questions out-of-towners are likely to be thinking about:

What are the neighborhoods like?

Why not do a little research into how potentially competitive neighborhoods compare with your own. If you don’t have small children, acquaint yourself with where kids go to participate in today’s popular activities, local playgrounds, etc. Have ready links to online resources that will help prospects connect with Evansville residents and groups. Assembling a menu book stuffed with tempting local eateries never hurts, either!

What will my finances look like?

Evaluating relative costs of living is already at the top of the list for anyone buying homes during the last few years. If the COL inEvansville compares favorably with a prospect’s current address, it should be smooth sailing. If not, there may be overriding personal or professional reasons why your prospect is interested in the first place.

What special logistical hurdles are there?

What if, for instance, your perfect home cannot be ready by the mandatory moving date? Knowing local temporary housing and storage options can make an otherwise ‘impossible’ move eminently doable.

Buying homes in Evansville presents a special set of challenges for out-of-towners. Being sensitive to how important they can seem to a buyer can only ease their path to homeownership. If you are planning to make this wintera successful selling season, contact me today. I’ll be eager to share many other tips to help make your sale happen! You can reach me on my cell phone at 812-499-9234.

Posted by: Rolando Trentini AT 08:00 am | Permalink | 0 Comments | Email

Wednesday, May 04 2011

What Home Buyers Really Want

If your house is on the market then you might be at the point of tearing your hair out. After all, some sellers have had their home up for sale for years at this point. It can be maddening, and the competition is only getting more intense as prices continue to fall and more foreclosure homes flood the market.

So what, exactly, are buyers looking for this spring? In short, they're looking for homes that are going to save them money. And when you think about it, it just makes sense. Mortgage loans are harder to come by, and thanks to an uncertain economy, people are less likely to splurge on a McMansion they're going to have to pay to heat and cool for the next five years (i.e. save money on utility bills).

[See the best personal finance stories from around the Web at the U.S. News My Money blog.]

Even if you're planning on staying in your home the next few years, it's still helpful to know what people are looking for because you're likely going to make changes and home improvements over the years. Knowing what potential buyers are interested in can help you invest your money wisely, so you have a better chance of selling when you're actually ready. So what are people looking for?

1. Homes in Good Condition

Buyers aren't interested in fixer-uppers right now. They don't have a lot of cash, and they don't want to spend money on home repairs immediately after they move in. They're looking for homes that are in great condition and that are absolutely move-in ready. They don't want to have to repaint, clean carpets, or cover up cracks in the ceiling. And they especially don't want to spend money on major repairs. To increase your chances of an offer this spring and summer, make sure you do everything you can to get your home in tip-top shape. Utilize a house spring cleaning checklist and make your home spotless before showing it off.

2. Homes with Green Features

Saving money and living green are trends that aren't likely to disappear anytime soon. Buyers are now looking for features which are going to cut down on a home's operating costs, as well as lessen its impact on the environment. Tankless water heaters, high-efficiency furnaces, energy-efficient appliances, energy-efficient windows, adequate insulation, and solar panels are just a few that are making it on to buyers' wish lists.

Basically, any "green" upgrade that's going to save money on utility bills will be highly appealing to people looking for a new home. You probably don't want to splurge on solar panels, a geothermal furnace, or other expensive green energy technologies, but there are some small changes you can make that will help potential buyers save money in your home. For instance, you could install a rain barrel or two against the house, add insulation, upgrade any old appliances to Energy Star rated models, and plant some trees to help with shading during the summer months.

[In Pictures: 10 Smart Ways to Improve Your Budget.]

3. Outdoor Living Spaces

In an uncertain economy, people travel less. This means that our homes are truly becoming our castles, no matter how small they are! Outdoor living spaces have always been popular, but they're especially appealing now since so many people are taking staycations, and choosing to relax at home instead of going out at night and on weekends. If your backyard leaves a lot to be desired, then do whatever you can to turn it into an oasis. Build a deck, plant flowers, add a fountain, and turn it into an escape for potential buyers.

Final Thoughts

If your home is currently on the market, it's important to do everything you can to remove any concerns buyers might have about your house. Sellers sure don't want to continue spending money on their homes, but small changes such as planting flowers, repainting, and cleaning can go a long way towards getting you an offer. Remember, you don't want to give people any reason not to buy your home!

Have you had any success selling your house in this market? What are some of the best methods that worked for you?

Heather Levin is a regular contributor to the Money Crashers personal finance resource site and is also the creator of The Greenest Dollar, a blog focused on green and frugal living.

Source: http://news.yahoo.com/s/usnews/20110421/ts_usnews/whathomebuyersreallywant

Posted by: Rolando Trentini AT 08:00 am | Permalink | Email

Wednesday, February 16 2011

Market Watch News Letter for February 2011

HOME INSPECTIONS

This month I would like to discuss home inspections. These are an important part of virtually every real estate transaction. Unfortunately many buyers and sellers do not consider inspections before purchasing or selling a home. I always recommend home inspections for buyers. This is an opportunity for the buyer to hire a 3rd party professional to evaluate both structural and mechanical systems in a home before the transaction closes. When significant, unknown problems are discovered this gives the buyer an opportunity to ask the seller to make an allowance or repair defects in the home prior to closing. The inspection is not intended to sour a transaction because of minor, inexpensive defects. Too often I see buyers asking for a laundry list of minor repairs especially when considering an older home. Keep in mind that inspectors will, and should, point out items for the buyer's benefit that are not necessarily major defects but simply minor repair or maintenance items.

I try to remind sellers that most buyers will ask for an inspection. In many cases the inspection will uncover some legitimate defect(s). In these cases, it is often in the seller's best interest to make the repair because any known defects must legally be disclosed by both the seller and the Realtor. The next buyer will likely ask for the same repair.

As I hinted last month we have just relaunched FCTuckerEmge.com as well as an upgraded TuckerMobile.com for your web-enabled phone. The new sites are designed to make the customer experience as quick, easy and efficient as possible. TuckerMobile is the only local GPS enabled site and also allows the customer to search easily. Please try both I know you will be happy with the experience.

I will be back next month with more helpful information and we will be one month closer to warm weather. Feel free to call or email me at 812-499-9234 or Rolando@TheTrentiniTeam.com if you have any questions regarding real estate or home inspections.

Posted by: Rolando Trentini AT 11:12 am | Permalink | Email

Wednesday, February 24 2010

More Buyers Seek Mother-in-Law Suites

The economic recession is encouraging more families to consider homes that accommodate multiple generations.

According to a survey by Coldwell Banker Real Estate, 37 percent of practitioners surveyed saw an increase in home buyers looking for space for parents and grown children. Nearly 70 percent of practitioners say they expect an increase in this kind of demand.

Coldwell Banker recommends that sellers highlight their “mother in-law suites” or similar spaces that could accommodate a family interested in multi-generational living. Whether it’s a garage apartment or refurbished basement, this separate space can help such a home stand apart from others on the block.

Source: Coldwell Banker Real Estate (02/22/2010)

Posted by: Rolando Trentini AT 09:00 am | Permalink | 0 Comments | Email