BUYING A FORECLOSED PROPERTY: WHAT YOU SHOULD KNOW

When shopping for a home, many buyers look for a bargain. Some will look at foreclosures believing that they can buy a foreclosed home at a discount. 

While purchasing one of these homes may seem like a sound investment and a great way to get more house for your dollar, there are some issues to consider before purchasing a foreclosed property.  

Depending on your financial situation, your experience as a homeowner, and your access to information about the foreclosure market in your area, there are some risks involved.

Finances Of Foreclosure

The financial considerations of purchasing a foreclosed home can sometimes be overlooked.  Often foreclosed homes can be in need of considerable maintenance and repair to make them habitable.  You need to know this cost when making the purchase, or you may end up with a considerable amount of debt in bringing your home back to its original shape.  Also, even though the price of the property is right, there are other financial considerations you may not have considered.  

The cost of maintaining a home, property taxes, and utilities are all expenses that may be greater than your budget will allow, especially if you are purchasing a home that is much larger than your existing home or if you are unfamiliar with the costs associated with home ownership.  There is also the consideration of your ability to pay for the purchase.  Often foreclosed properties must be paid for in cash, so be sure you have the available credit.

Knowing The Facts

The process of purchasing a foreclosed home can be much more time consuming and complicated than a normal real estate transaction.  If the sale is occurring because an eviction notice has been served or if you are purchasing the property at auction, you may not be able to inspect the house before purchasing it or you may have to deal with some issues to get the current homeowners out.  

There is also the issue of not knowing the condition in which they have left the home.  You will want to be sure you get the advice of both a real estate agent and a banker to ensure that your purchase is both a good investment and will increase in value over time.

Overall, purchasing a foreclosed home can be a great way to enter the income property market or find yourself a great investment opportunity, but being sure you have all the facts can prevent you from making a poor investment decision.

USING TWITTER TO KEEP UP WITH BREAKING NEWS

If you have ever found yourself wondering why in the world you’d ever want to use Twitter, let me introduce you to one very useful feature: Breaking hyper-local news.

With all of the social media websites and mobile apps out there today, you might find yourself looking to cut back or even use certain social sites for specific functions. 

While Facebook might be great for keeping in touch with family and friends scattered across the country, and Pinterest might be ideal for “scrap-booking” ideas for your next home, what in the world should you use Twitter for?

If the idea of “tweeting” messages out in 140 characters seems like a waste of time, perhaps you should consider Twitter in a new light. What Twitter excels at is breaking news, especially hyper-local breaking news.

Hyper-local is a term which simple means “very close” to you or your neighborhood. While a wildfire two states away might not be of concern to you, a four-alarm disaster in your neighborhood can suddenly be a real priority.

You don’t have to tweet to make use of Twitter. In fact, one of the best ways to use Twitter is simply as an “awareness” tool for your immediate area. Many people don’t realize that a variety of services and businesses break news daily via short Tweets with links to more information.

Here are some common categories you’re likely to find if you search Twitter for tweets and accounts near you:

-   Fire / Police / EMS / local radio scanners

-   Public utilities (including power and water... great for getting updates on outages)

-   Local transit (trains, buses, taxis)

-   Local government and civic notices

-   Sports stadiums (traffic advisories, event information)

-   Local news stations (learn what’s going on between regular broadcasts)

-   Neighborhood blogs (very popular in cities)

-   Neighborhood businesses (often advertise specials, events, and “Twitter only” freebies)

-   Your actual neighbors!

You’d be surprised how useful Twitter can be when you think of it in terms of a breaking news delivery platform. Give it a try today. Who knows, you may even find yourself becoming a local news source yourself!

Ready to start reading hyper-local tweets? Start by following me on Twitter! Follow my account, @ValerieMcConvi1 today.

GARAGE STAGING TIPS TO HELP SELL YOUR HOME

Getting ready to sell your house? If you want to make it shine, don’t forget to pay attention to the garage! Staging all your rooms can make a big difference.

Making a house on the market shine is all about attention to detail. If you’re going the extra mile to ensure your home is a stand-out, you’ll probably go beyond the typical touch-ups that refresh curb appeal. You might even decide to stage your home, especially if you’re not living in it while it’s for sale.

One “room” you don’t want to forget when you stage? Your garage!

Staging a garage may sound excessive, but it’s an important and frequently-used entryway to a home. While many prospective buyers may expect a dark, cluttered, unfinished concrete box, you can surprise and delight them by following these simple garage staging tips:

1. Clear out the clutter. Yes, it might mean renting storage space, but that can be a good idea anyway when you’re staging a home to impress. Weed through the junk, have your garage sale, and then store the balance off-site.

2. Enhance the floors. Cracked, stained, or otherwise shoddy looking concrete flooring can be a visual turn-off. If you’re not planning on sealing, priming, and painting the floor, at least get a suitable cleaning chemical or power washer to brighten up the flooring.

3. Organize what remains. A workshop area with hook boards for small tools can be appealing, especially if great care is taken to make the area look tidy and functional.

4. Create more storage space on walls or hanging from the ceiling. Provided your garage isn’t low-ceilinged or particularly tight, shelving and hanging racks can show your buyers how much room they’ll have to keep extra tools, seasonal decorations, or sports equipment handy.

5. Tune up the lighting. A nice hanging fluorescent fixture, plugged into outlets or existing fixture outlets can change your garage from a dungeon into a clean, inviting place. Besides, don’t you want to highlight all that hard work you’ve done?

Want to make your house stand-out in your home city's real estate market? Talk to a local REALTOR who can offer you staging tips to sell your home faster.

KEEPING A SHARED SCRAPBOOK WITH CAROUSEL

Do you want to maintain a shared photo collection of design inspiration, dream homes, or family photos? Carousel is a free add-on for Dropbox that can help you with that!

Dropbox is one of the most powerful and useful cloud data storage services available. It's a great way to use files across computers, backup important files, and share media with friends. As Dropbox has become a convenient home for files, the company has recently expanded the number of features it offers as well.

Now Dropbox has launched Carousel, a mobile app which is focused on backing up and sharing your photos. Available for both iPhone and Android devices, the app syncs to your Dropbox Camera Uploads folder.

According to this extensive hands-on review of Carousel:

"...if you're already a Dropbox user, redundantly backing up images is never a bad idea, and you have nothing to lose with the Dropbox utility. Carousel, in this case, just makes everything easier to see, find, and share."

(Source http://thenextweb.com/creativity/2014/04/10/hands-dropbox-carousel/)

It's a handy app to share if you’re looking for ways to safely store and share family photos as well as scrapbooks of "dream home" ideas or interior decorating inspiration. Because it’s connected to your mobile device, it’s super easy to synchronize your photos-on-the-go to Dropbox’ cloud-based servers.

Check out the full review here:
http://thenextweb.com/creativity/2014/04/10/hands-dropbox-carousel/

Dropbox's dedicated site for Carousel is here:
https://www.carousel.com/

The app can be downloaded for iPhone and Android here:


iPhone: https://itunes.apple.com/us/app/carousel-by-dropbox/id825931374?mt=8


Android: https://play.google.com/store/apps/details?id=com.dropbox.carousel

I love experimenting with mobile tech that can make the lives of my clients easier and more fun.

WHAT IS A WALKABILITY SCORE?

More and more interactive home search maps will feature the “walkability score” of a particular neighborhood or home. Have you ever wondered what that really means? 

Check out my blog post on understanding the walkability score.

When you’re looking at home listings and comparing neighborhoods, you may notice a number attached to the listing or neighborhood called “walkability score.” Have you ever wondered exactly what that means?

Walk Score is a company which “analyzes hundreds of walking routes to nearby amenities. Points are awarded based on the distance to amenities in each category. Amenities within a 5 minute walk (.25 miles) are given maximum points. A decay function is used to give points to more distant amenities, with no points given after a 30 minute walk.”

Additionally, Walk Score looks at pedestrian friendliness, a component which takes into account population density, block length, and intersection density. (Source: http://www.walkscore.com/methodology.shtml).

Rankings are based on a 0 - 100 scale. Here’s how the scores translate to an area’s walkability:

90 - 100: Walker’s Paradise. Daily errands do not require a car.

70 - 89: Very Walkable. Most errands can be accomplished on foot.

50 - 69: Somewhat Walkable. Some errands can be accomplished on foot.

25 - 49: Car-Dependent. Most errands require a car.

0 - 24: Car-Dependent. Almost all errands require a car.

In addition to a Walkability Score, Walk Score also evaluates for Transit Score (how well a location is served by public transit) and Bike Score (whether an area is good for biking).

All three of these scores can help you determine your personal values when you’re buying a home. They can also be useful to profile the kind of buyer who might be interested in a home you’re selling. It’s important to understand that a high or low walkability score is not necessarily bad. It all depends on personal values. (Someone who wouldn’t walk to errands anyway might find themselves bothered by the proximity to a highly-trafficked commercial businesses, for example.)

If you’re curious about your own home’s walkability score, or you’d like to learn about the most and least walkable neighborhoods in a given city, you can search for addresses on the Walk Score website at http://www.walkscore.com/.

Want to see a walkability score in action? Search for listings on my website at: http://valeriemcconville.com/officelistings.html

WHAT IS A HOME WARRANTY PLAN?

A home warranty plan, also known as a home protection plan, is a service contract that offers homeowners a way to safeguard themselves against possible breakage or a malfunction within the home.  

It's impossible to predict the future, which is why so many buyers look for that little extra peace of mind to comfort them when life unexpectedly throws them an unforeseen problem.

Who Needs A Home Warranty Plan

Basically, anyone who purchases a home and is concerned with the cost of repairs should consider a home warranty plan.  This is especially true of first-time home buyers who may not be familiar with home maintenance.

Factoring In The Cost

When factoring in the potential cost of repairing a major appliance or other home component, a home warranty plan may not be a bad investment.  The actual cost of warranty coverage will depend on the plan chosen and the items protected.  As is the case with everything in life, it's best to shop around and compare prices.

Who Pays For A Home Warranty Plan

As a buyer, you can order a home warranty plan in conjunction with the purchase of your home.  However, some sellers or builders may include this type of offering as an incentive to attract potential buyers.  In this case, the plan is yours at no additional cost.  Some REALTORS® may also offer a home warranty plan as a gift to customers who buy a home through their agency.

What's Covered & What's Not

Just like a car warranty, no two policies are the same.  Coverage varies by location and issuer, and your REALTOR® can help you to choose a warranty plan that best suits your needs.  Most basic plans cover a home's heating and cooling system, electrical system, plumbing, water heater and major appliances, including a dishwasher, range/oven/cooktop, garbage disposal, etc.  Coverage does not apply to items that are misused or damaged, either intentionally or through negligence.  Instead, most home warranty plans are designed to protect the homeowner from defects that result during the course of normal wear and tear.

When considering the purchase of a home warranty plan, review the complete contract and familiarize yourself with exactly what's covered under your policy.  If you want an upgraded policy, don't hesitate to ask your REALTOR® if one is available.  Most companies do not require a home inspection and will notify homeowners when their coverage is about to expire.  The good news is that most policies are renewable.

What To Do If A Problem Arises

If you are unable to satisfactorily resolve an issue with your home warranty plan, either due to denial of a claim or undesirable service, talk to the REALTOR® who sold you the home.  If he/she refers a lot of business to this particular company, it may be possible for him/her to speak with them about reaching an amicable resolution.

The purchase of a home is a big step and it's likely to be the largest purchase you will ever make, so be sure to consider all of the options available to help protect yourself from costly repairs.  Ask your REALTOR® for more information relating to available home warranty plans.

UNDERSTANDING THE CLOSING PROCESS

You shopped for a home, decided to make an offer, entered negotiations, had your offer accepted, and now you are ready to start the closing process. So, what happens next?

Once your loan is approved, you will be ready to take the final step that will lead to the door of your new home. 

Many home buyers are intimidated by the closing process, but it's not as complicated as you may think.  In fact, finding the right home is much more difficult than closing the deal.

Making It Official

The closing process begins with the borrower and lender meeting in the presence of a notary public.  This is a person who is authorized to oversee, create or certify contracts, deeds and other legal documents.  At the conclusion of the signing, the notary public will provide their stamp and signature, which certifies the identification of everyone present and the signatures on the loan application.

Handing Over The Cash

When you meet with the lender to close the loan, you will be required to produce your down payment and, if required, the closing costs.  Ask your lender about acceptable payment methods, which may include a cashier's check or other certified funds.  If you have an account with the lender, a personal check may be accepted in some circumstances.

Review The Loan Documents

At closing, this will be your final opportunity to review the loan documents.  You should make sure that everything is accurate and as promised, including the interest rates and loan term.  It's also important that you confirm that the names and addresses are correct, along with other important information relating to the loan.  If anything is inaccurate, now is the time to make changes.  Never sign the loan documents until everything is perfect.

Sign Here, Please

Once everything is verified and the loan documents are approved by both you and the lender, it's time to sign on the dotted line.  Believe it or not, this is one of the most nervous times for a homebuyer.  If you've chosen the right home and are comfortable with your loan, however, it can also be one of the most exciting.  Once the documents are signed, the notary public will affix his/her stamp and signature.

It's A Done Deal

The final step in the closing process is a simple handshake.  Most lenders and homebuyers will extend their hands and, with a smile, the person who was just a homebuyer is now a homeowner.  Now that's something to shake on!  With the keys to your abode now firmly in hand, it's time to get moving and turn your new house into a home.

LOWER WATER BILLS AND CONSERVE FOR THE FUTURE

Water is precious. Without it, life stops. 

Fortunately, cutting back is easy and painless and not only preserves our fresh water, but also reduces your bill! Here are 7 creative ways to save.

Water is our most precious resource. As our planet becomes more crowded and the demand for clean drinking water grows, it’s increasingly important that we look for creative ways to reduce needless waste. You might underestimate how small changes can really add up. 

Did you know simply by turning off the water while you brush your teeth, you may save up to as much as 25 gallons per month? (A great way to make this point with kids is to show them at the grocery store what 25 gallons of milk looks like... that’s a lot of water!) Even shortening your shower by two minutes can add up to 150 gallons per month.

Below are some creative tips you can use to cut down on your water consumption, lower your water bills, and preserve a resource we truly can’t live without:

1. Keep a pitcher of water in the refrigerator instead of running the tap. Instead of waiting for cold water, every drop ends up as part of your drink.

2. Wash veggies and fruits in a pan of water, then gather the water you use and reuse it to water indoor plants.

3. Consider installing an instant water heater near your kitchen, so you don’t have to run the water excessively when you need hot water. (This can also reduce overall energy expenses.)

4. Remember: Washing dark clothes in cold water saves on both water and energy, and it helps your clothes retain their vibrancy.

5. Rather than following a set watering schedule for your lawn and garden, check for soil moisture two to three inches below the surface before watering. If it’s still moist, hold off on running those sprinklers.

6. Reduce the amount of lawn you have to water by practicing xeriscaping, which is landscaping and gardening that reduces or eliminates the need for supplemental water from irrigation. (Rocks, natural, local vegetation, etc.)

7. Does your shower fill a 1-gallon bucket in less than 20 seconds? Replace your shower head with a water-efficient model.

Share these seven tips with others and encourage people in your neighborhood to join you in your support of water conservation.