Posts Tagged ‘home’

What are the best types of philippines homes that you are willing to buy for your family or for yourself? There are different types of housing that you could choose from other than the single-family home, or house. These include condominiums, apartments, and townhouses. So which of these types of housing is perfect for your life style?

Townhouses
Townhouse are like a typical house. The difference is that most townhouses are built side by side, and identical to each other. Unlike a house, townhouses would usually only occupy a single floor of a building. The advantage of owning a townhouse, however, is that most of it are found in large complexes complete with high security and resort facilities such as swimming pools, gyms, parks and playground equipment.

Townhouses are perfect for people with family, with two or three kids. The good thing about this is that townhouses of these kinds would usually cost as much as houses are, but with the benefit of these amenities. However, it can still be very expensive for most people. This is the reason why condominiums became popular.

Condominiums
Condominiums are one of the most popular types of philippines homes in the market today. What made it popular was because of its affordability. Compared to townhouses and the single-family home or house, condominiums are known only to cost half the usual price of these housings, usually ranging from P500,000 Philippine Pesos to as much as more than P1,000,000 Philippine Pesos.

There are several types of condominiums available in the Philippines. These are condominium buildings and condominium complexes. Condominium buildings are usually found inside a major city, such as those found in Makati City. The advantage of these types of condominiums is its location, which allows residents to be within walking or mass transit distance of business and industrial areas of the city. These types of condominiums are usually perfect for non-married individuals. But is also perfect for live-in couples which work around the clock.

Its counterpart, the condominium complexes, are usually found in the outskirts or in provincial areas. These types of condominiums, however, usually offer the same amenities offered by townhouses such as swimming pools, gyms, parks and playground equipment. Usually, these types of condominiums are popular for couples starting their own family or for small families, such as those with a single child. Although popular for its amenities as well as with its affordability, condominium units are usually too small for larger families.

Apartments
Another popular type of philippines homes, apartments are usually more popular for people with limited budget. Unlike condominiums and townhouses, apartments are usually rented or leased to tenants. There are many types of apartments, there are condominiums that could be made as apartments by its owner, or townhouses which can be made as apartments by its owners. However, one of the most popular type of apartment is the studio type apartment.

A studio apartmentis a self-contained, small apartment, which combines living room, bedroom and kitchenette into a single unit, barring a bathroom. Studio, efficiency, and bachelor style apartments all tend to be the smallest apartments with the lowest rents in a given area, which is why its very popular for those which are only starting out with their lives. However, houses rented to tenants could also be a perfect place for families and larger families.
For more information visit to our site at http://www.atayala.com

Houses in the UK are unique not only because they look old despite being relatively new but because they’re probably the most expensive in the whole Europe. 

This explains why it’s important for you to evaluate your needs and wants in a particular house first  before visiting real estate sites. Contemplate: How much are you willing to spend for your house, anyway? Where do you prefer your house to be? Believe us, considering and answering
these questions first will make the searching (and later, the negotiating) much easier.

To put it frankly, you won’t be able to afford even a single one bedroom apartment in Cardiff, Wales if you have a budget that’s less than £100,000. Cardiff is the capital of Wales and it goes without saying that the values of properties there are high. Such a property in that location is more or less worth £127,876. How will you be able to migrate in Wales then? Consider other places. Your budget limit may work for a same property in a smaller area like Powys.

Another option for you is to look for properties that are under the “rent to buy” feature. Under this feature, if you can’t afford the house that you like, you can rent it for some months until you can afford its price. The amount you’ve paid for rent will serve as a deposit. You want to know how much the usual rent is for an average UK house?  A two bed flat in Essex can be rented for £733. You do the rest of the maths.

For more information and tips On Home Guide visit, http://houses.co.uk

Town Homes Come With Many Advantages

If you want to buy a home but aren’t looking forward to spending your time off from work mowing the lawn, shoveling snow, raking leaves, or painting your house, a town home may be exactly what you’re looking for. You can still own the home, but the community’s association fees will take care of various maintenance requirements. You will also not have to worry about loud neighbors above or below you, since town houses only have common side walls.

Simple to Luxury Designs are Available for Town Homes

No matter what type of town home you can afford, there is a designer that will work closely with you to decide on what type of house you need. Today, town houses are available with different amenities and views. Inner city townhouses allow people to live closer to where they work, without having to rent a smaller apartment. Some neighborhoods are constructing town houses along natural or manmade lakes for a glistening water view to give owners a relaxing atmosphere.

Custom town home designers allow you to create a home to match your personal style. The interior of a town house can often look small and dark when not designed properly. Since every wall doesn’t connect to the outside, making use of what you have is vital for those that want a home with natural sunlight. An architect will need to efficiently use the floor plan to create an easy flow from room to room. Different residential house styles can be used to design a town house to create the look you want.

One and two story town homes are available to give you more design options. Families within any age group can take advantage of living in a town house. No matter what type of town home you’re looking for, a custom designer can listen to what you want from your house and make it happen. Town homes can be made for families of different sizes. Whether you’re single, married, or going into retirement, a town house will have its benefits for you.

Town Homes Provide Homeowners with Less Work

Town houses are often found in communities that offer different amenities to property holders. Pools, tennis courts, and fitness centers are popular choices for town home communities. Since you’re going to be paying for the upkeep of these facilities, finding a community that offers amenities you will use is important. Of course, the fees you pay will also go toward the maintenance of the yards and exterior of each home. You won’t have to spend your Saturday mornings mowing the grass. Instead, you could go for a swim in the neighborhood’s pool or spa. Most town home communities are gated, which provides a secure area from the outside. Parents may be more comfortable letting their children play in the community playground.

Each town home community will attract certain types of buyers. If you want to live in an area where people share your interests, do some research to see what type of people are buying a town house. The amenities that are offered can usually tell you who will be more attracted to living there. Swimming pools and playgrounds may attract families with children, while fitness centers, sporting courts, and spas could interest more singles or those that enjoy healthy activities.

Anybody in the UK who wishes to sell their home has many things to consider.  From choosing how the property will be marketed to arranging for a Home Information Pack there are many things that must be done to give the best possible chance of a quick sale.

Advertising the Property

UK home sellers have a number of options when choosing how their home will be marketed.  Traditionally the majority of property sales are made via estate agents with as much as 90% of all homes being sold in this way.  Using an estate agent can be advantageous as they commonly offer a full range of services including setting a valuation, marketing the property and arranging viewings.  For these services estate agents will charge a fee.  In many cases the fee charged will be set at a percentage of the selling price of the property usually amounting to 1-3%.  There is however a different type of agent known as fixed fee estate agents who charge a set fee regardless of the value of the home.  Selling a property with a fixed fee estate agent can mean significant savings.

Some home owners choose not to use estate agents and instead prefer to try to sell their house privately.  There are a number of property sites that will enable people to advertise their home for sale online.  This can be a good way to sell property as research has shown that many people searching for a new home to buy will look on the internet.

A third option for home sellers is to make the home available at a property auction.  Property auctions can be a good way to ensure a quick sale however it is generally homes that have been repossessed or are in need of a great deal of repair that are sold in this way.

Home Information Packs

Home Information Packs (HIPs) were first introduced into UK property sales in August 2007.  It is now compulsory for all home sellers to make a Home Information Pack available to potential buyers of their property.  Every HIP contains a number of documents relating to important aspects of the property being sold along with information about its energy efficiency.

People selling their home should have a HIP prepared as soon as they put the property on the market.  There are now many organisations offering to prepare Home Information Packs.  These organisations range from estate agents and solicitors to specialist HIP providers.   When choosing a HIP provider home sellers need to consider both price and more importantly quality.  Research has shown that some Home Information Pack providers are producing packs which contain inaccuracies or are incomplete.  So that their money isn’t wasted it is important that people selling their home choose a reputable organisation for their HIP.

One Stop Comprehensive Real Estate&Mortgage Services

Dutchess, Putnam&Westchester County New York and nearby western Connecticut area offers something for everyone.  Stunning lakes and beaches, the Long Island Sound, abundant shopping, equestrian farms, waterfront properties, public&private golf courses, parks&playgrounds and an easy commute by car or train to have made Westchester, Putnam & Dutchess Counties New York and the western Connecticut area one of the most sought after communities on the east coast of the United States.

Conveniently located just north of , residents here enjoy all the country life has to offer.  Here in the “country” you’ll enjoy wonderful neighborhoods, great schools, backyard barbeques, fresh air and plenty of room to spread your wings.

Looking for a deal on that special property? Then browse all our Handyman Specials, Foreclosures, New Homes, Waterfront Homes, Log Cabin Homes, 55+ Adult Community or Equestrian Properties, at www.NYCCountryHomes.com

We are delighted to indulge our clients with a wide selection of homes for sale in  &New York real estate properties.  In addition, here you will also find a large selection of rentals and also homes for sale in nearby Fairfield County Connecticut; including the towns of Danbury CT, Brookfield CT, Ridgefield CT, Bethel CT, Wilton CT, Greenwich CT and New Fairfield CT.

Here our buyer’s can find anything from a luxurious Bedford New York mansion, a relaxing lake front home in Brewster New York, a spacious townhouse overlooking a beautiful golf course in Carmel New York, a private country home nestled in the woods in Somers New York, a water front home on a motorized lake in Mahopac New York, a historic home in Pound Ridge New York, an equestrian estate in North Salem New York or Pawling New York, or a log cabin home in Patterson New York or search  for a home in the western Connecticut area, including the towns of  New Fairfield CT, Danbury CT, Ridgefield CT, Brookfield CT, Bethel CT, Greenwich CT and Wilton CT.

Contact the Lawrence Walsh Group for first class representation and exceptional client services.
Call us today at 914-248-1800 or contact us.

Planning on selling your home? According to the National Association of Realtors, 86% of home buyers perform most of their home searches on the Internet.  If you choose the Lawrence Walsh Group, you’ll know your home is receiving the maximum exposure needed in today’s market.  We utilize the latest technology, syndicated advertising and strategically placed blog’s and web sites to drive thousands of buyer’s each week here to our primary website, www.nyccountryhomes.com, that’s why we’re consistently one of the top ranked sites by buyer’s and seller’s in all of the Westchester & Putnam County NY real estate market.  No other real estate agent in  area can expose your home to more potential buyers.  For more information visit our Selling your home page.

Lawrence Walsh has been a distinguished Realtor for twenty years and has exceptionally represented both  buyer’s and seller’s in all types of real estate transactions in the and Putnam County New York area.  He has assembled an incredible team of professionals who are consistently ranked as one of the top Realtors Groups in , Putnam & Dutchess Counties New York.  Holding dual real estate licenses in both and and licensed as a Mortgage Loan Officer, he and his team are uniquely qualified to help you find and finance your next dream home in either state.  To those who value a relationship with a professional Realtor, we at the Lawrence Walsh Group extend a warm welcome and open door.

Since 1973 the RE/MAX network has grown to include 63 countries, eight territories on six continents.  Today, REMAX has more than 6,149 offices through out the world.  For over 25 years REMAX has remained focused to serving the needs of their clients by selectively recruiting and training only the best and most professional brokers in the world, allowing REMAX to continually live up to it’s claim “outstanding agents, outstanding results”.  With over 120,000 associates REMAX is the most recognizable and successful real estate firm in the world.

If you are going to move into a townhouse in a development, a condo or perhaps a single-family home in a subdivision, you will find that they are probably part of a homeowners association or HOA.  The association is supposed to make sure that the CC&Rs (Covenants, Conditions & Restrictions) issued to every homeowner are followed.  The idea behind CC&Rs and HOAs is to maintain value and qualities in the homes and properties.  A homeowner who is found to be in violation of the CC&Rs can be fined and/or penalized in accordance with the provisions established in the bylaws of the HOA.

Therefore, if you are going to have to adhere to the rules and regulations established in the CC&Rs, it would be a good idea to research the HOA that you are going to be part of and to know the CC&Rs.  You can find out a lot about an HOA from the minutes of an association board’s meetings.  People who are against HOAs often say that they tend to be overzealous, unscrupulous or both.  They argue that people cannot decline a fee increase implemented by the association and that you must abide by the rules, no matter how restrictive they may be.  You can find out just how restrictive your potential homeowners association actually is and whether it is truly overzealous from the minutes. 

If you do your research, you will come to know the covenants, conditions and restrictions placed on a home and whether you can abide by them.  If there is something that you know you will not be able to live with, such as not displaying an American flag (some associations actually do restrict display of the American flag), then you would be better off elsewhere.  If you think that you can buy the home, attend a meeting and request a change of the no flag display rule, then you had better do your homework really well and find out how much owner participation the association allows at its meetings if at all. 

As stated previously, you cannot refuse to pay fees once you own the property, even if they become burdensome and onerous, so you should know what those fees are.  Should you refuse to pay the fees, it could lead to fines, litigation, eviction and the eventual selling of your home to cancel your debt.  In fact, if you were to be taken to trial and lose, your house would be sold to cancel your debt and you could end up paying court costs and the association’s legal fees.

You should also find out how much is contained in the association’s repair fund.  The reserve or repair fund should contain anywhere from 10 to 50% of the replaceable item (pool, road, gym, recreation area, etc.), depending on how old the community is.  The older the community, the greater reserves that the fund should have to cover repairs.  If you find that maintenance costs are minimal and the community is fairly old, then you could be moving into a place that is not well-maintained or that is not living within its means, which would probably mean that the HOA has not been doing its job.  If you do your research carefully, you will be able to determine the type of HOA you will be dealing with and whether you would be better served by looking elsewhere for a home.

Henderson Properties, a full service real estate company, based in Charlotte, North Carolina, shares their knowledge on how to sell your home. Mike Haverdill, Maintenance Supervisor, gives you tips on how to spruce up your home. Here’s a few tips for selling your home: – replace torn screens – fill wholes in the wall – keep your countert-ops clear If you are in need of expert advise, visit us at www.HendersonProperties.com, or give us a call at 704 – 535 – 1122.

If you are in the market for new property then you will no doubt be spending a good deal of your time on viewings!

The old adage ‘first impressions count’ is never truer when looking at a prospective new home and you’ll probably be able to tell whether you like a property within a few minutes of being inside. It’s often the case, however, that emotions take over and sometimes obvious, basic things that would normally start alarm bells ringing can be overlooked in favour of cosy surroundings and decor-ready living spaces.

For this reason it’s always a good idea to take someone with you on a viewing who can offer an honest, objective and preferably business-like opinion. Another vital thing to take with you is a digital camera – very useful – especially when viewing several properties.

Before you set out on your viewing appointment, write yourself a list of all the things you expect to get in your new home including practical factors as well as cosmetic features. When you get to the property, tick each item off one by one so that you can rate the house on your own scale and compare it to others you’ve seen.

Jumping back a step, before you even book your viewing appointment go and have a look at the exterior of the property, and fully check out the location. Add the following to your pre-view checklist:

1.    What is the area like for noise and traffic morning, noon and night?

2.    Where does the sun fall on the house at certain times of the day?

3.    Look at the roof: are there any missing or broken tiles, broken guttering or crooked chimneys that would indicate lack of good care?

4.    Look at any flat roofs. Has any water collected?

5.    Are there any cracks in the external walls?

6.    How is the external woodwork? Are there any signs of rot?

7.    Are there any signs of mould or leaking overflows?

8.    What is the parking situation?

9.    What shops and services are nearby?

10. If you need them, are there good public transport links nearby?

11. How long would it take you to get to work?

12. Is there a bus stop, width restriction or street lamp directly outside the property that could be restrictive?

13. Is there any shared access that could cause issues with neighbouring property owners?

14. Check your mobile phone signal – can you make and receive calls in the vicinity of this property?

If you are happy with your pre-view criteria, then book your viewing appointment and get that list ready! Some of the factors you might like to add to this list are:

1.    Can you handle the décor until such times as you can get onto decorating?

2.    Do the windows have locks?

3.    What is the loft or basement space like?

4.    Are there plenty of power sockets where you would expect them?

5.    Is there gas and electricity or just electricity?

And some questions you could put to your prospective vendor are:

1.    What Council Tax Band does the property fall under?

2.    How often are refuse collections undertaken?

3.    Is the water metered?

4.    What are the average service bills per month?

5.    When was the boiler and heating system last serviced? Is the paperwork available?

6.    Are there any current building, plumbing or electrical work guarantees?

7.    When were the windows and doors fitted? Are they still under guarantee?

8.    Is Broadband internet access available?

9.    What satellite or cable television services are available?

10. What are the neighbours like?

If you take some time to prepare for your house viewing then you’ll find it much easier to compare properties once you’ve seen a wide selection.

Remember, be objective and try not to let emotions take over; whilst a property makes a home, a place to live and somewhere to spend time with family; it is also an important investment for the future.

Pacific Beach is located on the central coast of San Diego County within the 92109 Zip Code. If you are interested in Pacific Beach real estate, then you should find the information below useful. The following summarizes sales data for detached single-family homes and attached condominiums and townhomes. This sales data covers the period from July 1, 2006 through July 31, 2006.

Approximately 18 detached single-family were homes were sold during July 2006. Of these 18 homes, the average asking price was $992,598. The average sales price was $946,211. This results in a sale price/list price (SP: LP) ratio of 96%, meaning that on average, sellers obtained 96% of their asking price. The average time to sell a home was 55 days.

A detailed evaluation of these 18 single-family homes is provided below.

a. Five of these homes had two or fewer bedrooms. The average list price was $702,400. The average sales price was $689,000. The SP:LP was 98%. The average time to sell this type of home was 57 days.

b. Nine of these homes had three bedrooms. The average list price was $1,089,975. The average ales price was $1,031,867. The SP:LP ratio was 95%. The average time to sell this type of home was 52 days.

c. Three of these homes had four bedrooms. The average list price was $1,025,000. The average sales price was $968,333. The SP:LP ratio was 95%. The average time to sell this type of home was 63 days.

d. One home sold with five or more bedrooms. The average list price was $1,470,000. The average sales price was $1,395,000. The SP:LP ratio was 95%. The average time to sell a home was 50 days.

Approximately 25 detached condominium or townhomes were sold in July 2006. The average list price of these 25 units was $650,072. The average sales price was $620,772. The SP: LP ratio was 96%. The average time to sell these units was 55 days.

A detailed evaluation of these 25 units is provided below.

a. Eighteen of these units had two or fewer bedrooms. The average list price was $536,877. The average sales price was $510,527. The SP:LP ratio was 96%. The average time to sell this type of unit was 65 days.

b. Six of these units had three bedrooms. The average list price was $926,166. The average sales price was $886,333. The SP: LP ratio was 97%. The average time to sell this type of unit was 28 days.

c. One of these units had four bedrooms. The list price was $1,031,000. The sales price was $1,011,800. The SP: LP ratio was 98%. The unit took 16 days to sell.

If you are interested in the Pacific Beach real estate market, contact a San Diego Realtor to assist you with the home buying process.

The American Dream is often paired with owning one’s own home.  For decades Legislator’s have protected that dream with allowing home owners to claim the mortgage interest paid on their homes as a tax deduction.  With a possible phase out of this deduction, could the dream fade?

“There are no cows more sacred in the tax code than the deductions for mortgage interest and property taxes. Together, they add up to at least the $ 75 billion annual subsidy for housing and Homeowners. ” The New York Times.

In 2002, 37.2 million taxpayers claimed the deduction, writing off $336.6 billion, or about $9,000 per taxpayer. Representing about 37% or so of itemized deductions, it was slightly more than itemized deductions for deductible state and local taxes, and twice as much in deductions as charitable donations.  Clearly, the mortgage deduction is important and worth a huge amount of money.

In 2005 it was estimated that:

* The mortgage interest deduction will cost the Treasury $72.6 billion, according to congressional estimates.

* The $250,000 and $500,000 tax-free exclusions of home sale profits for single sellers and joint filers, respectively, will cost $23 billion .

* Property tax write-offs cost $20 billion, and tax subsidies for local and state housing bond programs account for $1 billion.

When a congressional committee examined the distribution of homeowner benefits for 2004, it found that people earning $200,000 and more a year – just one-half of 1% of all homeowners filing for deductions – pocketed 22% of the $70.2 billion in write-offs in 2004.

In 2007, Rep. John D. Dingell (D-Mich.) unveiled a draft of his “carbon tax” legislative reform package. Part of this draft legislation was a phase out the mortgage interest deduction on large homes. The phase-out schedule for the mortgage interest write-off, beginning with houses of 3,000 square feet, which would lose 15 percent of their deductions, and ending with houses of 4,200 square feet and larger, which would receive no deductions at all.

Dingel said: “In order to address the issues of climate change, we must address the issue of consumption-we do that by making consumption more expensive.”

Naturally, with the real estate market bust, the Dingell package was shelved. Once the housing market recovers, lets’ say two years from now, it’s a very good bet the administration will be looking hard at ways to increase taxes to pay down the huge bailouts. The unusual financial troubles and the move to green, will be the perfect time to push through such legislation.  Unlike the Dingel proposal ,which was aimed at larger homes, the future legislation will most probably cover all mortgage interest deductions. To increase its’ chance at passage, it is a good bet it will be a phased in plan with deductions decreasing over a number of years.

To get the reversal of the sacred deduction started, President Obama’s impending budget proposes a cap on the mortgage interest rate deduction.  Couples earning $208,850 or more would loose the deduction. Where currently households at the 33% and 35% tax rates are allowed the deduction, Obama would reduce their deduction to only 28% of the value of those payments.  This is likely a first step to what seems to be a total elimination of mortgage tax deduction.  If (when) this passes, Obama will find it easier to lower the earning cap for the mortgage tax deduction, leading up to an even lesser amount in the future.  It seems on the horizon that the mortgage interest rate will be only for low income earners.

San Diego County is home to one of the largest concentrations of military bases in the United States. In fact, the San Diego area contains 12 major Marine Corps and Navy bases and facilities. If you’re in the military and moving to San Diego, one of your biggest decisions is whether to buy a property, live on base housing (if this option is available to you), or rent a home or apartment. If you choose to buy a property, there are many issues to consider before taking this step.

BUY OR RENT?

The decision to buy or rent is more complicated for military personnel because you may be assigned to San Diego only for a limited period of time. If you plan to purchase while in San Diego and then sell when you transfer, the condition of the real estate market at the time you sell will make this either an easy or difficult process. In a seller’s market (when demand exceeds supply), properties tend to sell quickly and at or above asking price. In a buyer’s market (when supply exceeds demand), properties usually take much longer to sell and may sell below asking price. Individuals in the military should consider this issue in determining whether to buy or rent real estate in the San Diego area.

For those who choose to buy, the major other consideration is the likely appreciation rate of your property during your tenure in San Diego. If you plan to sell your property before you depart to your next assignment, you should remember that there are expenses (e.g. realtor fees, taxes, etc.) associated with selling your house, and any price appreciation you realize by owing the property for a few years, may or may not be offset by these fees.

Some individuals choose to keep their property even after they transfer to a new assignment outside of San Diego. In these cases, you can rent out the property, leave it empty, or find another acceptable use of the dwelling. If you choose to hire a Property Manager to oversee the renting and maintenance of your property, keep in mind that the fess for this service will cut into any monthly profit you realize on the property.

GETTING A HOME LOAN?

If you decide to purchase a property, obtaining a home loan is one of the tasks you must undertake. Many active-day members, retirees and other service veterans are eligible for special loan programs guaranteed by the Veterans Administration (VA).

To be eligible for a VA guaranteed loan, you must have served on activity duty and have a discharge status of other than dishonorable after a minimum of 90 days of service during wartime, or a minimum of 181 continuous days during peacetime. There is a minimum 2-year service requirement for veterans who enlisted after September 7, 1980. The 2-year requirement also applies to Officers who began service after October 16, 1981. There is a minimum 6-year service requirement for National Guard members and Reservists, and surviving spouses are also eligible under some conditions. There are other special conditions in which a person may be eligible, so contact your local VA office to get more information.

WHAT IS VA GUARANTEED LOAN?

The VA loan is a federal guarantee of a maximum of 25% of a home loan amount but not to exceed $104,250. This formula allows eligible members to obtain a maximum loan amount of $417,000 (as of 2006). However, service members must meet other eligibility requirements. Individuals borrowing using this type of loan must intend to be occupants of the purchased property.

Private lenders are the source of funds for VA guaranteed loans. The guarantee provides these private lenders assurance that the federal government will reimburse the lender up to the maximum allowable amount if the borrower fails to repay the loan. Because of this guarantee, lenders are more favorable to offering loans without a requirement for a down payment.

VA CERTIFICATE OF ELIGIBILITY

Individuals desiring a VA guaranteed loan must first obtain a Certificate of Eligibility from the Veterans Administration (VA Form 26-1880). Contact your local VA office to obtain this form by calling 1-888-244-6711. You will need a copy of your military discharge document (DD-214) to submit with your application. Once you have the Eligibility Certificate, you can then select a lender or mortgage broker to work with on getting the loan.

CLOSING COSTS

In addition to the purchase price of your property, there are closing costs that must be paid to process your home loan. These closing costs are fees that are charged by different service providers to help complete the loan process. For example, your lender will require an appraisal of the property to make sure that its value is at or above your purchase price. Other charges commonly included in closing costs are: recording fees, credit report fee, prorated taxes and assessments, hazard insurance, flood insurance (if required), survey, title examination, title insurance, postage and shipping fees, and the VA Funding fee.

WHAT IS THE VA FUNDING FEE?

The VA charges a fee to individuals utilizing the VA guaranteed loan. This fee is a percentage of the loan amount and is linked to the size of your down payment on the home you plan to purchase.

For active-duty personnel or veterans who put no money down, the funding fee is 2.15% of the loan amount. This rate increases to 2.4% for National Guard/Reserve.

For active duty personnel or veterans who put a down payment greater than zero but less than 10% of the loan amount, the fee is 1.5% of the loan. This rate increases to 1.75% for National Guard/Reserve.

For active duty personnel or veterans who put a down payment of 10% or more of the loan amount, the fee is 1.25% of the loan. This rate increases to 1. 5% for National Guard/Reserve.

The rates listed above are for first time users of the VA loan guarantee program. Individuals who have used the VA guaranteed loan program before pay higher rates than first time users. The rates above are subject to change. In some limited cases, individuals are exempt from paying the funding fee. You should contact your local VA center for current information.

CHOOSING A VA LOAN VS. A CONVENTIONAL LOAN

You must carefully evaluate the terms of the VA guaranteed loan vs. the terms of a conventional loan. One advantage of a VA guaranteed loan is that many lenders will not require you to put a down payment on the purchase of the property, assuming you meet their other lending criteria (e.g. credit scores, sufficient income, adequate debt to income ratio, etc.). There are also many zero down payment conventional loan programs. In some cases, the VA guaranteed loan will offer a lower interest rate and better terms, and in other cases, you can obtain a better deal through conventional financing. A good loan officer can help you evaluate the advantages of either loan, given your particular situation.

FINDING THE RIGHT HOME

If you are familiar with the San Diego area, then you probably already know where you want to live. If you are less familiar with the communities in San Diego, your Realtor can serve as an excellent resource to answer your questions. There are many steps to take during the home search process, which include:

1. Work with your loan officer to identify how much you can afford.
2. Determine what type of property you want to buy (single-family home, townhouse, condominium, other). Your Realtor can advise you about the differences between these types of properties.
3. Determine how many bedrooms, bathrooms, square footage, etc. you need.
4. Determine what areas of San Diego you would consider living in.
5. Calculate the drive time (with and without traffic) to your job.
6. Identify the quality of schools in the neighborhoods that you are considering.
7. Locate the crime statistics for the neighborhood that you are considering.
8. Identify the location of local community resources such as libraries, shopping centers, athletic centers, etc.
9. Ask your Realtor to advise you about the resale potential of the home you are considering.

Although there are many other factors to consider, the above is a good starting point. Your Realtor should be able help you get answers to the questions above as well as provide you many other resources. Keep in mind that most Realtor’s who assist homebuyers and paid by the home seller, but make sure to ask your Realtor about this.

HOW MUCH SHOUD I PAY FOR A HOUSE?

Your Realtor should be an excellent source of information to help you understand a fair offer price. The Realtor should provide you information about what other similar properties in the same community have sold for recently, current pricing trends for the community, as well provide you a recommendation based on their experience in the local market.

DO I NEED A HOME INSPECTION?

There are many other issues besides the offer price to consider when making an offer. For example, many buyers find it advantageous to get an inspection of the property by a qualified inspector. The inspection typically covers the major systems of a property. Check out the National Association of Home Inspectors web site for more information about what is covered in a typical home inspection. Getting a home inspection is generally a good idea.

HOW LONG WILL THIS TAKE?

If you want to use the VA guarantee, then make sure you have obtained the Certificate of Eligibility far in advance of your relocation to San Diego. Whether or not you are using the VA loan program, be sure to obtain a loan pre-approval (sometimes called loan prequalification) from a lender or mortgage broker. This lets home sellers know that you are a serious buyer and are ready to act quickly if needed.

Prior to moving to San Diego, get a sense of the local real estate market. Your Realtor can set up an automatic email notification system that will send you descriptions and pictures of properties that meet your criteria. Doing this type of research should save you a lot of time when you arrive.

Once you have your loan pre-approval, the next step is to locate a property that meets your needs. Your Realtor should show you a variety of available properties that meet your criteria. Once you find a house you an interested in, your Realtor will prepare the purchase offer documents, and guide you through the loan and closing process.

In summary, it’s simply a process of getting a loan, finding a house that you like, making an offer that is accepted, and going through the closing process, which can occur in less than 30 days.

CONTACT A SAN DIEGO REALTOR

If you are moving to San Diego, contact a Real Estate agent who is familiar with VA guaranteed loans and has experience working with military buyers. Many agents have prior military service themselves, and are very familiar with your situation and needs.

Land is a homeowner’s most valuable asset

Your home’s real value is in the dirt. When you purchase a home, you actually buy real estate, a combination of dirt (the land) and all the fixtures: your house, garage, a swimming pool, fences, septic tanks and driveways.

Land is real estate’s most valuable resource because the planet provides a fixed supply. You can’t move it and you can’t make more of it. Your house is little more than an improvement upon the land.

Because it is so valuable, the piece of rock has its own legal description and a documented history recorded under a plot number.

Land use: The planning or building department or division of your local government can provide you with the land’s legal description, boundaries and perhaps its surveyed dimensions, as well as a copy of the map of your house within a tract or subdivision. Some files include photos.

The file containing your land’s description will include the legal specifications or schematics of septic tanks, wells, basements, the floor plan of your home and other evidence of how your land has been used over time.

If you live in a Townhouse, you own land jointly with other homeowner association members, which explains, in part, why Townhouse are less costly than single-family homes. Your Townhouse unit file will, however, describe and map the air space you own within your association’s development, including the land beneath it all.

The history of your land could date back hundreds of years to the time of land grants and squatters, but it likely began with your parcel’s development as part of a tract in a subdivision. Building and planning departments usually have this information and other activities that affect the land. If you take out a building permit for a home improvement, apply for a zoning variance or run a percolation test for a septic system. The percolation test will determine if the soil will absorb water adequately to use a septic system.

While most government records are complete and accurate, the sheer volume of records leaves ample room for errors and omissions. Whenever there’s a question about the boundaries of your land, its use, basements or zoning, you may need to hire a survey company or seek a title company’s interpretation. Have a surveyor or a real estate attorney review any documents you receive.

Land ownership. A title search reveals recorded interests, encumbrances, claims of title and other forms of ownership or claims against your land and its components. That can include the owner’s mortgage, titles, deeds, judgments and other legal actions, the status of property tax payments and other claims against the property and its use.

The title search doesn’t stop at the current owner, however. It examines public records and any other depository holding a record of your property as far back as necessary to be certain you are buying a home with a clear title. That could include the assessor’s files, appraisal reports and homeowner association records. A preliminary title report will document what the title search discovers.

www.cyberprop.com

Almost four years ago, we purchased our first home: an 11 year old townhouse that had not been well taken care of. As the “bachelor pad” of a middle-aged male, interior design (not to mention maintenance & cleanliness) was not the owner’s strong point. Not so good for him, but great for us! My husband and I completed the renovations, transforming it from dull to dazzling, and sold the townhouse in mid-2007, for a healthy profit.

We then invested in our second project home: a 29 year old, 2-storey house. Sadly, the man hours and materials that went into the renovation of that house was worth far more than the profit we made. However, if you take into consideration that we purchased the house at the height of the market and sold it after only a mild recovery had taken place, we did well to make any profit at all.

We have just recently moved into our third project-home. For several reasons, we chose to revert back to a townhouse.  Based on our experiences, the following are a few of our suggestions to think about when purchasing a project home:

Monetary Investment

In addition to the purchase price of the home itself, consider the costs of the renovation supplies and labour (for anything you cannot do yourself), when planning your investment. Not everyone is an experienced renovator like my “super-renovator” husband (who can usually nail down the budget to be within a few thousand dollars just by doing a visual review of the home), therefore, make sure to have the home inspected by a licenced and insured inspector. Then, price out the supplies you will need at your local building supply store (or on their website), and get rough quotes on anything you cannot do yourself.

Time Investment

Although our overall profit margin was not drastically different from our first project to our second, the amount of time (and money) invested in the renovation was. Make sure you are taking into account both the cost and time it will take to complete the needed renovations. No one wants to work for free, even if it is on your own home.

A simple way of factoring this in is to use the “double your investment” formula. Take your renovation supplies budget and double it. The result will be a good goal for the return on your investment.

The Market Ceiling

Once you have completed the above steps (providing you still want to take this project on), you will then need to consider the potential for resale within the given market. Before purchasing any project home, research the market ceiling for the type of residential unit and the neighborhood you are interested in. Ask your Real Estate agent for recent sold listings in the area. Compare square footage, location and updates to your potential project. If your purchase price + the project costs do not allow a large enough profit margin before you reach your ceiling, you may want to reconsider the project.

Level of Ability

Not everyone is cut out for all types of renovations. One person may be capable of fully gutting a house and rebuilding it, where another person may not be able to do much beyond painting and laying a laminate floor. Do not take on a project that is beyond your abilities. If you do, you could end up paying someone else to finish the renovations you started, but could not complete, or you may end up with a poorly executed renovation, which can be worse that no renovation at all. Stick with what you know or what you think you are capable of learning.

Hidden Fees

There are always surprise problems and costs that arise in any given project. To avoid or reduce the shock of these surprises, make sure you have a contingency fund. There are also some “hidden fees” that can come in the form of buying and selling costs and that you need to account for in your budget. Some of these fees include:

Purchase taxes – In B.C., the government has a Property Transfer Tax (“PTT”) for anyone who is not a first time home buyer. The PTT rate in B.C. is 1% on the first $200,000 and 2% on the remainder, payable as part of the purchase of your home.
Mortgage Prepayment or Exit Fees – If you take out a mortgage on your project property and you sell that property before the mortgage contract is up, there are usually penalties associated with this. Depending on the contract terms, the price of this penalty can be a few hundred dollars to tens of thousands of dollars. So, make sure to communicate your intentions clearly to your mortgage broker or bank agent and ensure the product they are offering you is the best fit for your situation.
Agent Commissions – If you enlist with a licensed Real Estate agent to sell your home (which I strongly recommend), you will have to pay them commission. Standard, full-commission Realtors charge 7% on the first $100,000 and 2.5% on the balance.
Lawyer Fees – Lawyer and Notary fees vary from office to office. The lawyer we used on our last transaction charged $575 for a residential purchase and mortgage + disbursements (fees paid by the firm on your behalf) of $475, for a total of $1050.

The above is by no means an exhaustive list of everything to consider when buying a project property. However, we hope that the suggestions we have made, and the information we have provided will prove to be beneficial in planning out your project home.

Advantages of owning a home:-

Owning a home brings with it many advantages. Some of these advantages are:

* If you own real estate, your financial credibility goes up considerably in society.

* Your own home gives you the freedom to do what you like with it. For example, you can paint walls, keep pets and do many other things that you may not be able or willing to do in a rented apartment/villa/house. Remember, you can carry out any kind of home improvements in your own home, whereas you will not be willing to improve upon a rented home.

* Investment in real estate always appreciates with time. One of the main reasons for the appreciation is that there are far too many people and our world and far too less built space available to accommodate them. The market value of your real estate may bring you windfall gains in case you decide to sell it at a later date. Plus, owning a home will guard you against real-estate inflation.

* Owning a piece of real estate in any form secures you emotionally – Your home-ownership will fill you with pride and satisfaction.

* Over and above all these, you may enjoy some tax advantages because you own a home.

Searching for a home:-

Before you start your search for a home, you must at least make up your mind about the neighborhood you want to live in. If you’re migrating, then you must choose a neighborhood that is close to your workplace or your child/s’ schools. There are so many different factors that can influence your choice and ultimately it all depends upon you. Once you make up your mind where you’d like your real estate to be located, here’s what you must do:

* Always look up real estate online classified listings on real estate portals first. The online classified ads on the Internet cover a vast area and real estate portals such as ours’ – www.GO-Globe.com – cover numerous localities in different countries. You can try out niche neighborhood online classified ads too by running up a search on your favorite search engine. These online classified ads will not only give you an idea of the real market value in an area, they may land you with a super deal. On web portals, you can see the pictures of the property and you can figure out their location in a jiffy because the map will be given – this feature is missing in newspapers.

* Newspaper ads are a good source of information and many newspapers publish property pullouts or supplements, which clue you on to registration fees, taxes, mortgages, etc.

* Plan your finances well in advance. If you’re taking a loan, choose your preferred lender beforehand.

* Next in line are real estate brokers. If you run a scan on the Internet you will most likely find a reputed real estate broker who has published his listings online. Contact him and dig for more information.

* Now make a list about things to ask when you actually establish telephonic or Internet

contact: these would be location, price, pictures, utilities, amenities, taxes and whether the property is mortgaged, the kind of community (schools, shopping), the construction nitty-gritty (electric, plumbing, heating/cooling, etc.).

Home inspection tips:-

Okay, now we assume you have frozen on your neighborhood and you have started looking at some real estate. Here’s what you must check:

* Check the toilets, sinks, tubs, tiles and the plumbing in the bathroom. Look for breakages, ultra-used equipment and leakages. Similarly, check the kitchen’s sink.

* Check the woodwork in the house and look for termite-invasions, excessive use, poor

quality of wood, etc.

* Do a general check on electrical appliances, windows, electrical outlets and the garage.

* Take a close look at the exterior of the house: look for cracks, damaged gutters, water seepages and the ventilation.

* While inspecting the interiors take a hard look at the quality of the flooring, cracks inside the house, loose tiles and water stains. It is important to ensure that your home is well built and in top habitable condition. You may also think of appointing a home inspection specialist who may find more faults than you.

Final paperwork:-

Once you have selected your home and have completed all the inspections needed, you are now ready to buy it. Every country has a different set of property laws and it will be prudent that you see your lawyer for all the paperwork involved for the closure of the deal. A wise man once said, “A house is made of walls and beams; a home is built with love and dreams.” and a wisecrack once remarked, “Home is where you can scratch where it itches”. Both these statements are oh-so-true and so relevant, that their importance cannot be overemphasized. If you’re planning to buy a property, go ahead and follow our guide – it will pay you rich dividends.

This Home Buying Guide is brought to you by www.GO-Globe.com , an international free online classifieds real estate portal, developed in Dubai, Europe, India.

You can save yourself a whole lot of cash when you register your property or when you search for your dream home on our site. We currently have over 4000 properties listed on our site.

Top 10 Luxury Home Markets To Watch for Price Increases or Reductions

The Unique Homes Magazine has listed 25 luxury home markets to watch in 2007 in its January issue. According to the Unique Homes report the 25 luxury markets will indicate where the luxury real estate market is heading to. These markets along with features that make them stand out from the rest are worth watching out for.

The following is a brief report on the top 10 luxury home markets to watch for price increases or reductions in 2007.

1. Annapolis, Maryland. The waterfront city located on Chesapeake Bay offers excellent boating and affordable prices compared to Washington’s luxury enclaves. With Washington and Baltimore within reasonable commute, this city is highly desirable.

2. Asheville, North Carolina. An eclectic ambiance and low-key lifestyle attracts people to Asheville which continues to remain one of the hottest places for luxury home buyers.

3. Aspen, Colorado. From a ski enclave this luxury market has grown into a platinum location. With its four-season appeal and restrictive zoning policies, Aspen is still a highly-sought after destination.

4. Atlanta, Georgia. The city offers several new upscale communities, numerous lifestyle amenities, retreats and much sought after waterfront luxury homes.

5. Austin, Texas. A strong real estate market that saw record gains in 2006, the reputable University of Texas, the scenic lakes and the great music attracts buyers to this hill country.

6. Bellevue/Medina, Washington. With prices going up at 28 percent, the market has still not peaked and several upscale neighborhoods are available at a lower price range when compared to other markets.

7. Beverly Hills, California. One of the top ranked luxury markets that is perpetually in demand, Beverly Hills continues to be untarnished and idolized as the Mecca for luxury. Hollywood Hills is currently a hot market for buyers.

8. Idaho. The growing resort markets in the state garner attention for the state that is making its presence felt in the luxury home market.

9. Jupiter, Florida. The boom has arrived here after Tiger Woods’ purchase of a 10-acre estate for $38 m. The market continues to surge on this exclusive island.

10. Manhattan Uptown, downtown, midtown. The luxury market is upbeat with record sales of more than $5 m in 2006 accelerated by Wall Streeters. Co-ops and town houses are favorites among buyers here.

If you are interested in buying or selling a home, condo or any other type of real estate in any of these markets, be sure to seek out the services of a real estate agent to advise you about current local market conditions.