6 LITTLE KNOWN FACTS THAT CAN HELP YOU BUY YOUR FIRST HOME

It’s a dream we all have - to own our own home and stop paying rent. But if you’re like most renters, you feel trapped within the walls of a house or apartment that doesn’t feel like yours. How could it when you’re not even permitted to bang in a nail or two without a hassle? You feel like you’re stuck in the renter’s rut with no way of rising up out of it and owning your own home.

Well, don’t feel trapped anymore! It doesn’t matter how long you’ve been renting, or how insurmountable your financial situation may seem. The truth is, there are some little known facts that can help you get over the hump, and transfer your status from renter to homeowner. With this information, you will begin to see how you really can: - save for a down payment- stop lining your landlord’s pockets, and- stop wasting thousands of dollars on rent.

The problem that most renters face isn’t your ability to meet a monthly payment. Heaven knows you must meet this monthly obligation every 30 days already. The problem is accumulating enough capital to make a down payment on something more permanent. But saving for this lump sum doesn’t have to be as difficult as you might think


Today will be the first in our series of these little known facts that can help you purchase your first (or more) home.




Point #1:
You can buy a home with much less down than you think. There are some local or federal government programs (such as 1st time buyer programs) to help people get into the housing market. You can qualify as a first time buyer even if your spouse has owned a home before as long as your name was not registered. Ensure your real estate agent is informed and knowledgeable in this important area and can offer programs to help you with your options.


If you would like to sit down and see how this information can apply to your specific situation, please call me at 615-957-4446 with any questions you may have. I can put you in contact with the people who can help you with your dream.

Look Out!!!

Thanks to RealEstate.com for this article.

Red Flags When Buying a Home

Watch out for these signs that something might be amiss with the house you're interested in.

It’s exciting to shop for a new home, and even more exciting to find one you love. But don’t let that blind you to the little signs of potential problems that could haunt you long after the excitement of moving into a new home has worn off.

So what kinds of situations should send up red flags when you’re house hunting? Some are more obvious than others.

“The first thing we look at is the overall condition. If the house is just a total wreck when people are showing it, it’s probably not been cared for overall. There may be a lot of deferred maintenance,” said Curt Johnson, a REALTOR® with Century 21 Award in San Diego, Calif., a member of the RealEstate.com broker network.

Johnson said cracks on both sides of a wall, such as on either side of a door, can indicate a cracked slab or shifting foundation. So can doors or windows that do not open or close properly. It’s worth further investigation, he said. And that’s not all.

“Any time there is a musty smell, or just a sense of moisture in the property, it is a huge red flag,” he said. “We’re always concerned about mold issues.”

Also look for signs of water damage in the ceiling, which can indicate a roof leak.

Sometimes the red flags aren’t in the house itself but in the neighborhood.

A lot of For Sale signs can be a red flag that the neighborhood is in decline and property values are falling, said Sandy Guralnik, a REALTOR® in Charlotte, N.C., with Coldwell Banker United, a member of the RealEstate.com broker network.

Other neighborhood red flags include a lot of investment properties, or rentals, which might not be maintained as well as owner-occupied homes, she said. Additionally, a lot of foreclosures are likely to bring down property values and can signal a neighborhood in distress.

Other red flags experts say to watch out for when buying a home:

• Signs of termite infestation. Be sure to have the home inspected for termites before buying.
• Moisture in the basement. Correcting seepage problems can be expensive and time-consuming.
• Signs that the home is settling beyond what would be expected for its age. Horizontal cracks can be an indicator of serious foundation or structural problems.
• Roof gutters rusting or pulling away from the structure. Water leaks can damage the home, and gutters pulling away from the home can be a sign of wood rot in the fascia.
• Land sloping toward the home. This is a recipe for water damage.

One of your best defenses is to have the home inspected before closing. Qualified home inspectors are trained to spot structural and system problems the average person wouldn’t notice. The inspector also can advise you on whether those problems raise serious red flags or are typical for the age and location of the house.

An inspection also can tell you how long the heating and air conditioning is expected to last, or whether you’re likely to need a new roof in a couple of years. If you proceed with the purchase, you’ll know to budget for those repairs.

Mortgage Rates at a Low!! ACT NOW

Mortgage rates currently sit at 5.88 percent, and analysts say they are unlikely to fall any further for the rest of the year. Interest on 30-year fixed loans is only down a quarter of a point, as the credit markets have cut the link between it and yields on 10-year Treasuries; and while skittish investors have moved to Treasuries to trim the yields, mortgage lenders have not eased lending standards.

Mortgage rates are likely to close 2008 at about 6 percent as investors in bonds focus on rising inflation and drive interest rates higher.

Long-term rates will also increase due to the additional supply of Treasuries as Congress borrows to raise money for the growing federal budget deficit.

[SOURCES: Information, Inc.; Kiplinger.com]

If you would like to buy or sell your home, please contact me!!! andrew@andrewlael.com

Some Spring Cleaning Tips

Spring Cleaning Checklist

With spring selling season arriving, take the time now to polish your home to perfection.

1. Let the sun in. Make any room look brighter with clean blinds and windows. Mix a solution of one part white vinegar to eight parts water, plus a drop or two of liquid dishwashing liquid, for a green window cleaner. Spray on and wipe with newspaper to avoid streaks. (Washing on a cloudy day also reduces streaking.)

Showing tip: Replace heavy drapes with lightweight shears during warmer months to give a room a brighter, lighter feel for prospective buyers.

2. Sniff out smells. Check the drip tray underneath your refrigerator and wash out any standing water from defrosting. Remove inside odors by washing the inside of the fridge with a baking soda and water solution. Boil lemon juice in your microwave and add it to your dishwasher to eliminate bad smells. Also, put the lemon rinds down the disposal. Add activated charcoal in the fridge to keep odors at bay.
Showing tip: Make the fridge smell fresh instantly with cotton balls soaked in vanilla extract or orange juice.

3. Make your bed better. Vacuum mattresses and box springs, and then rotate and flip over. Do the same for removable furniture cushions. This is also a great time to wash or dry-clean the dust ruffle and mattress pad.

Showing tip: Add new loft to a lumpy comforter by having two people vigorously shake the quilt up and down to redistribute stuffing.

4. Clean those coils. Improve energy efficiency by vacuuming grates, coils, and condensers in your furnace, stove, and refrigerator (either underneath or in back). If a vacuum won’t reach, try a rag tied to a yardstick.

Showing tip: Shut some air conditioning vents on the first floor or basement so that more air will reach and cool the second floor. Reverse the process in winter for heat vents.

5. Wash the walls. Grease, smoke, and dust can adhere to walls and make even the best decorating look dingy. Wash walls using a general-purpose cleaner with hot water. Start at the top of the wall to avoid drips and in a corner so that you wash one wall at a time. Rinse the mop head frequently in clean water. And don’t press too hard because flat latex paint won’t absorb too much water.

Showing tip: Resist the temptation to spot-clean walls since it will make the rest of the wall look dingy.