Monday, February 21, 2011

Cost vs Value for Remodeling

The national averages for 2010 and 2011 are in for hypothetical estimates for home improvement. 

With all the homes available on the market... a seller has to make his home more appealing than the house next door or around the neighborhood.

Here's a general break down cost recouped by the new construction, remodel or update.  These figures are estimates.  Remember that real estate is local to your area and may not reflect your exact location or scope of a project quality and finishes.

ESTIMATED RECOUPED COST FOR RESALE IS...
Bathroom 62%
Bedroom 71% 
Wood Deck 72%
Garage 66%
Kitchen Remodel 62%
Entry Door 65%
New Roof 63%
New Windows 75%

Monday, February 7, 2011

Before You Buy a Home...

Before you buy a home... way before

...think about getting your finances and credit score in order.  It can take anywhere from 3 to 6 months to have an entry recorded on your credit history.  It will take some time to save the extra dollars needed for a down payment.  And...you will want to visit a great lender so you're prepared ahead of time to make an offer on a home.  Last, you will need a wonderful Realtor to explain this whole, complicated process. Don't go at this alone without a Realtor who does this everyday. 

Below is just a few reasons to think ahead...
  • Credit Scores of at least 620 will be enough to get you qualified for a home mortgage but... look to put more cash "upfront" if it's lower than 620.  The better your credit scores... the less cash required and the lower your monthly payments can be.  660 to 680 is a nice range to be when trying to purchase your home.
  • For an FHA-insured loan... your home payment can't exceed 31 percent of your monthly income... for a Conventional loan, a safe formula is 28 percent.
  • Save for your down payment anywhere from 3.5 percent for an FHA to 20 percent for a conventional loan. 
  • Bond money and down payment assistance are programs for some qualified buyers.  Even sellers may agree to assist with a buyers down payment.
  • Documentation will be required by your lender.  They will want 2 years of tax returns, 3 months of bank statements and the most recent 30 days of employers paycheck stubs.
So, call me first... then I will connect you with a great lender. We both will take you through this purchase, or... get you ready for the very near future purchase with our experience!

Thursday, February 3, 2011

Opps... I Called the Name on the Real Estate Sign

Some of my best and closest friends share their excitement with me when they purchase a new home to live, or land to build on.  I'm excited for them too!  But, then I ask why didn't they call me?  The answer is...

"Well... I called the name on the real estate sign." 

They thought they had to call that Realtor or Agent, on the sign to get the information and help to purchase that real estate.

Please call me even when it's listed with another company.  That's what I do for my new customers, clients and my friends.  I expect calls after 5 and on weekends.  That's how my business is geared.  People want information on homes and land for sale when they are driving around or internet searching.

So... call me first when your looking to purchase a new place... and
NOT THE NAME ON THE SIGN. You'll be happy to have me help through the whole process of a real estate transaction

Call, Text or Email 405-249-2810/ deborah@deborahallisonrealestate.com