What Is a Perfect Home?

When searching for a home it is important to identify what "perfect" means to you. The easiest way to start is by making a list of priorities. What is a "must-have," what would be nice to have, and what isn't important?  

We have all lived in places that at first glance we thought were suitable, only to find out later that the kitchen we initially thought was cozy was actually far too small for our needs, or that the seemingly bright living room only gets direct sunlight for a two hours a day.

Before scouting the market you need to know what you can afford.  Getting pre-approved for a mortgage first will make the whole process much easier. A trap that many buyers fall into is assuming that the maximum amount they can borrow is what they should spend on their new house. Look at what your monthly payments would be, and ensure that your budget factors in all ongoing maintenance costs,  as well as room to put funds aside each month for emergency maintenance.

Experienced Realtor is your key to success. Having the right professional working for you can be the difference between a smooth buying process and a costly disaster. Hiring a real estate agent provides numerous advantages. An experienced REALTOR® can find properties that you may otherwise miss, negotiate prices and recommend lenders.  Experienced Realtor is also able to answer any questions you may have about a property, as well as any you may not have even thought to ask.

For more information or to search for homes visit https://homesalesneworleans.gardnerrealtors.com/

How to Sell your Home in No Time

Here are four top tips for getting your house ready to list for a ton of interest and potential bids:

Give Your Yard Attention

Cleaning up your yard and making it look welcoming will attract more potential buyers; curb appeal can add as much as 5 percent value to your home—and there are many improvements that can give you a large return on investment. Some of the best options are upgrading your mailbox, fixing your siding and adding walkways.

 Paint Inside and Out

Buyers want to see a fresh, clean space when they visit your home. By painting inside and out, you have the chance to apply a neutral tone throughout the home. Agents often tell sellers to use a bold color on the front door to add appeal and draw the eye to the entrance. Consider hiring a professional painter to help ease the process.

 Price Your Home Intelligently

The right sales price for your home is often the best way to sell your home quickly. If priced too high, you may scare buyers away before they even come to an open house, but, if priced too low, you may lose out on money. Work with your agent to price your home appropriately for your location! 

 Depersonalize the Space

Buyers want to look at a home as if they are moving in. Staging experts suggest that you rent a storage room and pack up everything that shows your family, pets or lifestyle until the home sells. Another idea is to hire a professional staging company to give you some tips.  They will provide insight into the colors, accent walls and accessories that'll play up the characteristics of your home, making for a great house showing. If you follow these tips, you should be on the road to selling your home in no time!

To Search for homes visit https://homesalesneworleans.gardnerrealtors.com/

Choosing a Moving Company is Important

Personal belongings are important to you, and, as such, it is important to hire a moving team that will do what you expect. Here are questions to ask any company you're seeking to employ:

Do you have any references?

References or a link to online references are very informative, and will help you to form an opinion of how reliable the service will be.

What specific services do you offer?

Moving companies vary in terms of what they're willing to do for you. There are some companies that might refuse to move large items, such as grand pianos, and only provide the lifting and packing of smaller items. Or you might only want a company to do one or two things for you, such as load up a truck you've rented yourself.

Do you offer in-home estimates?

Knowing what needs to be moved is one thing, but understanding the cost of labor to get the job done is another.

Be sure to get everything in writing and secure the departure and arrival dates to avoid any potential hiccups.

What happens if something is damaged?

You've chosen a company you can trust and afford, but what will the company do if they accidentally break something of yours? Be sure to ask what the company's policy is on this subject.

Designing The Outdoors

We all love outdoor spaces, and if you have a large backyard, your possibilities may be endless. What happens when all you have is a balcony? Guess what: it can be transformed into a functional area! Here are a few tips:

Depending on the square footage of your outdoor area, consider what you will be using it for. Smaller spaces can be tricky, so try to find furniture that can double as storage, like a bench with space beneath or a table with drawers or an extra shelf. For larger spaces, consider separating areas by using potted plants to establish borders between the dining and lounging spaces.

Consider what your focal point will be to help determine your color scheme. If your outdoor space overlooks a beautiful landscape, then choosing neutral materials will create fewer distractions from the view. Alternatively, if you’re working with an urban setting, bring in a bit of color with potted plants and vibrant seat cushions or pillows.

Selecting the right outdoor furniture can be tough. If your space gets a lot of direct sunlight, metal furniture may not be your best choice as it can get hot and uncomfortable to touch. Additionally, if humidity is high it can be harsh on metal surfaces and require additional treatment and cleaning to maintain. Plastic, resin, or wicker furniture can be a bit lighter weight than other materials and easier to put away for the off season.

For smaller spaces, less can be much more. Bistro tables can be an excellent fit for city balconies and smaller patios as they don’t take up too much space and can be easily moved around. Forcing too much furniture into a small space will make it feel even smaller and may deter you from enjoying it.

Is your outdoor dining space for you and your spouse, or do you have a large family or entertain frequently? If you pride yourself as the host with the most, make sure your outdoor dining layout allows for a smooth cooking and entertaining experience. If your grill is the primary cooking space, make sure it is safely separated from the crowd, but also close enough that you can cook and entertain at the same time.

There are a million different ways to design an outdoor space and it really just boils down to your own personal style.

To search for properties go to http://www.homesalesneworleans.com/ 

Buying a Home Today is More Affordable Than Renting

If you are renting but have been thinking about buying a home for awhile, here is a great article published by RISMEDIA that might help you make the right choice:

http://rismedia.com/rrein/22267/1023666/5079737/84283?utm_source=newsletter&utm_medium=email

To search for homes in the Greater New Orleans Area 

go to

http://www.homesalesneworleans.com/

Ready to shop for a home? Know loan types!

Before you go mortgage shopping, know loan types.Conventional Loans:

Conventional mortgages are ideal for borrowers with good or excellent credit. Conventional mortgages follow fairly conservative guidelines for:

—Borrower credit scores.
—Minimum down payments.
—Debt-to-income ratios.

What is “Debt-to-Income Ratio”?

Percentage of monthly income that is spent on debt payments, including mortgages, student loans, auto loans, minimum credit card payments and child support.

Closing costs, down payments, mortgage insurance and points can mean that the conventional borrower has to show up at closing with a sizable sum of money out of pocket.

What’s good: Conventional mortgages generally pose fewer hurdles than Federal Housing Administration or Veterans Affairs mortgages, which may take longer to process.

What’s not as good: You’ll need excellent credit to qualify for the best interest rates.FHA Loans:
 

Federal Housing Administration mortgages have flexible lending standards to benefit:

—People whose house payments will be a big chunk of take-home pay.
—Borrowers with low credit scores.
—Homebuyers with small down payments.

The Federal Housing Administration does not lend money. It insures mortgages.

The FHA allows borrowers to spend up to 56 percent or 57 percent of their income on monthly debt obligations, such as mortgage, credit cards, student loans and car loans. In contrast, conventional mortgage guidelines tend to cap debt-to-income ratios at around 45 percent and sometimes less.

For many FHA borrowers, the minimum down payment is 3.5 percent. Borrowers can qualify for FHA loans with credit scores of 580 and even lower.

Cost: Each FHA loan has 2 mortgage insurance premiums:

—An annual premium that varies from a low of 0.45 percent to a high of 0.85 percent. This premium is rolled into the monthly mortgage payment for the life of the loan. See how the premiums vary by loan term and amount of equity.

—An upfront premium of 1.75 percent of the loan amount, paid at closing.

What’s good: FHA loans are often the only option for borrowers with high debt-to-income ratios and low credit scores.

What’s not as good: FHA mortgage insurance premiums usually are higher than premiums for private mortgage insurance. To get rid of FHA premiums, you must refinance the loan.
 VA Loans:

Who they’re for: Most active-duty military and veterans qualify for Veterans Affairs mortgages. Many reservists and National Guard members are eligible. Spouses of military members who died while on active duty or as a result of a service-connected disability may also apply.

How they work: No down payment is required from qualified borrowers buying primary residences. The VA does not lend money but guarantees loans made by private lenders.

Cost: The VA charges an upfront VA funding fee, which can be rolled into the loan or paid by the seller. The funding fee varies from 1.25 percent to 3.3 percent of the loan amount.

The VA allows sellers to pay closing costs but doesn’t require them to. So the buyer might need money for closing costs. Borrowers may also need money for the earnest-money deposit.

What’s good: VA borrowers can qualify for 100 percent financing. Veterans do not have to be first-time buyers and may reuse their benefit.

What’s not as good: There are limits on loan amounts. The limits vary by county.
 
For more useful information or To Search for Homes go to http://www.homesalesneworleans.com/ 

Should you refinance?

Have you thought of refinancing? The option is becoming more of a possibility for many borrowers as housing values across the country continue to increase. The real question is whether homeowners should follow through with the cash out refinancing option.

A cash-out refinance means you refinance your mortgage for more than the current outstanding balance and keep the difference between the old and new loans. For instance, you want $25,000 to start a business. But you still owe $100,000 on a $200,000 house. You can refinance the mortgage at $125,000 and use the $25,000 in equity you pulled out for your business venture. Depending on the rate you started with, you could end up with a lower rate and a lower payment on the new mortgage, too.

Here are some Pros of Cash-Out Refinances:

— Satisfy big expenses: A cash-out refi is a way to access money to pay off big bills such as college tuition, medical expenses, new business funding or home improvements. It often comes at a more attractive interest rate than those on unsecured personal loans, student loans or credit cards.
— Improve your debt profile: Using a refinance to reduce or consolidate credit card debt is also considered a cash-out refinance and is a popular option.
— More stable rate: Many of borrowers choose to do a cash-out refinance for home improvement projects because they want a steady interest rate instead of an adjustable rate that comes with home equity lines of credit, or HELOCs.

Here are Cons of Cash-Out Refinances

— Worse terms: While you may get a lower interest rate than your current mortgage, your cash-out refi rate will be higher than a regular refinance at market rate. Even with a credit score is 800, you will pay a little more, usually an eighth of a percentage point higher, than the market rate on a regular loan.
— Cumbersome, and sometimes pricey, process: Gathering many of the same documents you did when you first got your home loan: past two years of tax returns; past two years of W-2 forms; 30 days’ worth of pay stubs; two most recent bank statements; and possibly more, depending on your situation.
— You’ll also have to pay closing costs at the end of the refinance, which can range from hundreds of dollars to thousands of dollars, depending on a variety of factors.
— Home at greater risk: Taking out equity puts you at greater risk of owing more than your home is worth when housing values go down.

So, is it for you?

To search for homes or for more useful information go tohttp://www.homesalesneworleans.com/