Buying an REO Property
In this depressed economy with house prices falling and many people going into foreclosure there are a couple ways to get great deals on a new home. One of those ways is a real estate owned property, or REO property.
REO properties are what occur after a foreclosure when the home has been seized, the home did not go in auction and so it’s been returned to the bank who will buy it back and then resell it as an REO property.
An REO property has some benefits as you’re not longer dealing with a homeowner who is stressed, financially and personally, and looking to make as much out of the deal as possible. You also can get a pretty good deal with an REO as the bank is simply looking to recover as much of their money as they can.
A downfall with an REO property is that there may be a reason that the property didn’t sell at auction and you really are in a buyer beware situation. You can have it inspected but the sale is as is.
So, if you’re fastidious and do a lot of research and look at as many homes as you can there is a chance that you’ll find the perfect REO property at a greatly reduced price.
New Trend in Retirement Communities
There’s a new trend in retirement communities sweeping the country, it’s a sort of do-it-yourself senior community or naturally occurring retirement community (NORC). These are areas that were not originally planned to cater to retired individuals but have become popular due to their price range, nearby facilities, modern conveniences, and other seniors in the region.
NORCs are proving useful for many people in the region as it supplies builders and renters with inhabitants, the seniors provide each other with a support and social group, and local businesses get a regular clientele.
Another benefit is that seniors with financial restraints are seeing more government and social service activity when they’re grouped more closely together and medical facilities are more willing to pay attention to them and offer services in their area. Public transportation may also be willing to add a stop or two if they realize that a large group of people who would use their services reside in a particular area.
But the biggest benefit to residents in a NORC is that they have greater social interactions with people who have similar likes, needs, and interests which make their lives more fulfilling and rich.
5 Apartment Decorating Don’ts
Living in an apartment doesn’t mean that you’re interior decorating flair is totally stifled, don’t fall into these apartment decorating traps and you’ll find you actually can express your personality through interior decorating in an apartment.
Don’t Avoid Color
Many people think that because you can’t paint the walls you don’t get to have color in your life. This simply isn’t true as there are many ways to bring color into an apartment without painting the walls.
Don’t Line Up Against the Wall
In small spaces it’s tempting to line everything up against the wall. Try to avoid this temptation and bring the visual interest to the center of the room and leave part of the wall space open.
Don’t Think Small
Too many people think they need miniature furnishings for a small space but all that does is make it look more petite. Get a couple large statement pieces to fill the space comfortably.
Don’t Clutter
It’s almost too easy to clutter up a small space so be sure to edit yourself. You may even want to change the accessories often to give every piece a chance, just not all at once.
Change the Lighting
Changing a light fixture is actually pretty easy and it can be un-done once you decide to more. An interesting light fixture will not only create visual interest but will improve the look of the entire space.
When you move into an apartment many people fear decorating because they don’t know what is allowed in their particular space. Learn what your landlord will and won’t accept and work within the boundaries. Don’t assume that nothing is allowed without first asking.
What is stopping you from Buying a Vacation Home?
Buying a vacation home is a big step in your life. Not only will this change the way you live, but it will also adjust your budget and personal finances in a big way as well. This doesn’t mean that you should avoid buying a vacation home. Many people find that they are getting held back by one or more details. Is this happening to you?
The most common reason for not buying a vacation home is money. If you don’t have the money you should wait to make this purchase. Those who move forward despite their money problems usually find themselves in a bad position. How will you be able to enjoy your vacation home when you know you cannot afford the mortgage? What if you always have to worry about foreclosure?
Some people can afford a vacation home but just don’t know if this is the right thing for them. Even though it may sound fun and exciting to own a second home, you should realize that there is a lot of work that goes along with it. In addition to staying on top of the bills, you must also make repairs, consider upgrades, and market for renters when you are not staying there. Do you have the time to devote to your vacation home?
If something is holding you back from buying a vacation home you should consider this before you move forward. You do not want to buy a vacation home until you are 100 percent sure that it is the right thing to do.
How to Hire a Professional Landscaping Company
Are you interested in hiring a professional landscaping company to work on your yard? Even though landscaping can be a “do it yourself” job, there are times when bringing in professionals is the way to go. Hiring a landscaping company doesn’t have to be hard. Here are three tips that can make this easy on you:
1. Ask your neighbors which company they use. Better yet, if you see a crew working in a nearby yard, stop to ask a few questions. You may be surprised at how quickly they will be able to help you out. This is often times the best way of finding the right company because you can see their work first hand.
2. Get an idea of how much you will be charged. What type of work do you need done? There are some jobs that will cost more than others. For instance, a basic grass cutting service will cost less than removing trees and planting new ones. It is always a good idea to have an idea of what you will pay so you can budget for this expense.
3. Don’t get stuck on one company. If you hire somebody and they do not work out there is nothing wrong with changing in the future. It is safe to say that you can find several professional landscaping companies in your area. Move from one to the next until you find the company that offers the highest quality work at a reasonable price.
photo credit: tomsaint11
Are all Retirement Communities Created Equally?
Are you thinking about moving to a retirement community in the near future? If so, you need to realize that every one of these communities is unique in its own way. In other words, not all retirement communities are created equally. You have to be careful about which one you choose. With so many options it would be easy to make a bad decision.
Here are three points to consider when choosing a retirement community:
1. Cost. For many retirees this is the number one consideration because they only have so much money to spend. Find several retirement communities that offer homes and condos in your price range. This will make your decision easier and less stressful.
2. Amenities. What does each retirement community offer? Some of them will have a pool, clubhouse, golf, and much more. Others will be a big light on amenities. Are you the type of person who is always looking for something to do? If yes, a retirement community with a lot of amenities is very important.
3. Housing options. What types of homes are available in the retirement communities that interest you? Do you want to move into a single family home? Would a condo or townhouse work for you?
Every retirement community is unique. Make sure you choose the one that is best for you.
5 Essential Tools for a Home
Whether you’re moving in to your first apartment or purchasing your first home there are five tools that every home should have. With these tools you can fix most small repairs that come along and you can add those special touches that make a house a home.
Hammer
It almost goes without saying, but a hammer is an incredibly useful tool to have around the house. A hammer comes in handy whether you’re hanging photos or repairing a squeaky floorboard.
Screwdriver
A screwdriver with changeable heads that accommodate both flat head and Phillips heads. If you’re a homeowner investing in a drill might be a good idea, there will be more little projects than you can imagine.
Pliers
Pliers are something you don’t realize you need until that little moment comes along and you need a little help. Invest in a regular pair and a pair of needle nose pliers as well.
Utility Knife or Box Cutter
Always handy, a utility knife or a box cutter will help you unpack those new build-it-yourself pieces of furniture and save your scissors in the process.
Tape Measure
There are so many uses for a tape measure, especially when you first move in and you’re trying to buy furniture that fits, make curtains, buy blinds, order carpeting and the list goes on and on.
Finally, you may want to get yourself a little toolbox to hold all of your new tools, this will protect them from damage and prevent you from misplacing and losing them. A word to the wise when shopping for the essential tools you’ll need around the house, it’s worth it to spend a little more money and get pieces that are well made rather than cheap.
Why do you want to buy a Vacation Home?
Are you interested in buying a vacation home? Before you do this you need to ask yourself what is fueling this passion. Some people have a good reason for buying a vacation home and are in position to do so. Others like the allure of having a vacation home, but don’t really know what they are doing or why this would or would not make sense for them.
There are two things you need if you are going to buy a vacation home: time and money. First and foremost, you need the time to pick out the right property. Additionally, and maybe most importantly, you also need the time to visit your vacation home on a regular basis. What is the point in buying if you are never going to use it?
Of course, money is also a determining factor. You may want to buy a vacation home more than anything in the world, but if you do not have the money this is going to be a difficult (or impossible) task. Don’t let the potential benefits of owning a vacation home force you into buying when you lack the money to do so.
Before you buy a vacation home make sure you know why you want to add this to your life. Don’t buy just so you can keep up with your friends or family. Buy because you have the time and money, as well as the desire to regularly visit a second home.
For Sale by Owner: Things you may not expect
Selling your home by owner means two things: 1. You get to keep more of the profits for yourself. 2. You are responsible for much more since you do not have a real estate agent helping out.
The number one reason to sell by owner is that you do not have to pay an agent a commission. This is several thousand more dollars that you get to keep in your pocket after the sale. That being said, the for sale by owner process is full of more than just benefits.
Here are three things you may not expect to run into when selling your home without an agent:
1. A lot of work. This is quite basic, but true nonetheless. When you opt to sell by owner you are saying that you want to do more work. You are in charge of planning open houses, marketing your property, showing others your home when they want to see it, and much more. Are you up for it?
2. Negotiating on your own can be difficult. Many people never expect the negotiation process to be so hard on their mind. You have to do what is best for your wallet while also making sure you don’t scare away the buyer. And all of this is done without the help of a professional.
3. You will spend more time selling your home than you ever imagined. This is not always the case, but most people who sell by owner find it to be true. Again, since you have to organize everything and call all the shots you are never off the clock. Do you have the time to sell by owner?
Every year, many people successfully sell their home by owner. If you know what to expect you may be next in line!
Reduce your Water Consumption
The Energy Star program estimates $4 billion is spent annually on energy expenses related to drinking water and wastewater utilities. You can do your part by retrofitting your existing home with water efficient fixtures to reduce your consumption of water and energy which will reduce the country’s use of electricity and production of greenhouse gases.
Shower
By simply installing a $20 low flow showerhead you can cut your water use by 25 to 75%. This is a quick and easy way to reduce water and you won’t even notice the difference.
Toilet
If you’re not up to replacing your entire toilet with a low flow energy efficient one then you should at least place a brick in the tank to reduce the amount of water you’re using. If you don’t have a brick and don’t want to buy one then fill a half gallon jug with water and it will work in exactly the same way.
Faucets
Similarly, a low flow faucet is a pretty easy to install and will reduce your water usage and you, once again, will never notice the difference in the flow.
New Washer
The clothing washer is where the average American family uses most of its water. There are many benefits to purchasing a new Energy Star front loading washer, the main one being you use significantly less water, but the lack of an agitator means your clothing lasts longer, you can launder some delicate fabrics at home, and your energy and water bills will drop noticeably.
Fix Leaks
And most importantly, fix all the leaks in your home. This simple step alone will make Mother Nature smile.
photo credit: sburke2478
