What REALLY Happens Behind Closed Doors in the Real Estate Market – Local Records Office

LOCAL RECORDS OFFICE – The single biggest purchase that the majority of Americans will make in their lives is when they buy a house says, ‘Local Records Office’. Last year in the United States, over five million new and existing houses were sold. So what are these properties like, and who is purchasing and selling them? If you are interested in learning more about the housing market, read on. Here is a collection of facts about homes for sale in America.

Who Is Buying Houses?

One out of every three purchasers was a first-time buyer in 2015. First-timers are an average age of thirty-one and boast an income of just under $70,000 says, ‘Local Records Office’. The other two-thirds of purchases were made by repeat buyers with an average age of fifty-three. These experienced buyers had an average income just under $100,000. Purchasers generally financed about 90% of the cost of their purchase.

What Were Buyers Looking For?

When polled, buyers stated that the most important aspect of a property was not the structure itself, but the quality of the neighborhood where it was located. Buyers also stated that the proximity of the residence to their place of employment was more important than the size of the property. Other important features that potential property owners were interested in when considering homes for sale were security systems, extra storage space, exterior lighting, energy-efficient appliances, insulation, and flooring materials.

READ MORE: How to Avoid Buying a Money Sucking House – Local Records Office

Who Is Selling Houses?

The median age of homeowners selling was fifty-four years, with an income a bit over $100,000. Sellers had lived in their house for nine years on average says, ‘Local Records Office’. 89% of sellers used a real estate agent when they sold their residence, and it was on the market for approximately four weeks. Final sales prices were generally about 98% of the asking value.

What Is the Average House Like?

In 2015, the median cost for a house in the United States was roughly $175,000. On average, purchased residences were built in 1991, and ran about 1,900 square feet. Most residences sold had two bathrooms and three bedrooms. The most expensive state for acquiring homes was Hawaii, with a median price of $548,000, followed closely by Washington D.C. and California, at $489,000 and $448,000 respectively. West Virginia offered the most affordable properties, ringing in at $89,000 typically, followed by Mississippi and Oklahoma, tied at $113,000.

In conclusion, the variety of homes for sale is as diverse as the potential purchasers in the market for a new residence says, ‘Local Records Office’. Properties can be found that cost over $100,000,000, or less than $100,000. That said, the average residence is still a three bedrooms, two-bathroom structure.

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The New Reverse Mortgage Material Establishes Financial Cushion – Local Records Office

LOCAL RECORDS OFFICE: Reverse mortgage information has recently improved in the financial world due to the apparent success of regulations that were put in place in 2013 says, ‘Local Records Office’. The Reverse Mortgage Stabilization Act of 2013 has helped garner these financial options some newfound respect in the industry.

What REALLY is a Mortgage? Local Records Office Explains How the American Dream is Made

Safeguarding provisions established by the Act, such as a restriction on initial borrowing amount, can help protect seniors from withdrawing all of their equity from the very beginning of the loan by keeping approximately 40% of the total equity on reserve for at least a year after the initial disbursement says, Local Records Office. Seniors must also prove that they have the resources to pay taxes and insurance during the program, or the bank can provide an escrow option to guarantee the funds are available for such expenses.

Using an HECM Line of Credit to Generate Income

Financial advisers recommend establishing a Home Equity Conversion Mortgage (HECM) line of credit as a way to establish a financial cushion, even if a senior doesn’t need it right away. In certain cases, this makes more sense than withdrawing a lump sum; since the HECM line of credit will actually increase in cash value the longer it remains dormant.

READ MORE: Before You Get A Mortgage Read This – Local Records Office

Another important part of reverse mortgage information that advisers recommend is using the HECM line of credit tactic. This will help protect retirement accounts from stock market fluctuations. This is possible because HECM withdrawals are tax-free. When the market is less favorable for drawing on investment accounts as a source of income. Seniors can simply draw against their HECM line of credit. This way, when the markets rebound, a senior’s retirement accounts don’t take much of a hit. When investment portfolios bounce back, the line of credit can then be repaid.

HECM line of credit payments can also provide a solution for seniors looking for a way to delay taking a hit on early social security payments says, Local Records Office. By waiting to access social security funds until later in retirement, retirees can ultimately expect an increase the payment amounts when they are finally withdrawn.

Lump Sum: Paying Off a Forward Mortgage to Improve Cash Flow

Using the lump-sum proceeds from a reverse mortgage to pay off a forward mortgage is another strategy that financial planners recommend. This tactic frees up cash flow for living expenses by eliminating what is typically the largest household expense for many seniors.

However, advisers don’t recommend using the lump-sum payment as leverage for taking on other debt such as a down payment for a big-ticket item or a second home says, ‘Local Records Office’. This can lead to budget problems down the road. Not to mention decreasing the senior’s financial nest egg and overall borrowing power. The goal is to use the reverse mortgage lump sum payment in a conservative manner to decrease existing debt and free up cash flow.

READ MORE: 7 Ways to Reduce Your Electric Bill – Local Records Office

Financial planners are considering the new reverse mortgage information to be promising due to the 2013 regulations having taken effect. These unique loan options can be viewed as a fiscally responsible way for seniors to put their money to good use for a comfortable and secure retirement.

 

Cracking the Mortgage Code to Getting the Best and Cheapest Mortgage – Local Records Office

LOCAL RECORDS OFFICE: If you’ve planned to buy a house, you’ll probably need to obtain a mortgage to pay for this. While some buyers will probably pay cash for their homes, most need a loan from the bank to finance this important purchase, says ‘Local Records Office. Getting this crucial loan isn’t as simple as obtaining a car loan. Bankers scrutinize borrowers closely to make certain they can pay back the money and that the house can be a wise investment for the standard bank. Buyers should do their homework to make sure they receive the best interest rates and payments because of their purchase. It’s wise to follow these steps to get the best loan.

Homebuyers Unexpected Delays at Closing – Local Records Office Tallahassee Florida

Pre-approval Process to Getting the Best Mortgage

Step one in the mortgage process gets pre-approved for the loan. Before even considering houses, it’s smart to possess a lender check over your program. Many realtors won’t take buyers to check out houses until this important step may be completed. Local Records Office says, sellers usually won’t accept an offer unless they know the lender has pre-approved buyers. In order being pre-approved, your lender will want to check out your credit score, your debt-to-income rate, and your employment history. You’ll need to possess a decent credit score to get yourself a loan with the best interest rates. You’ll also need a firm employment history that shows you’ve been with the same employer for at least two yrs. Once you’ve been pre-approved, you’ll find the house of your dreams.

 

 

Interest Rates

Interest rates change at all times but once you begin the actual mortgage process, you can now lock your rates. You can also buy down your rate by paying additional fees called points at closing. Doing the math on various options allows you to know if this is a new wise choice. The better your credit and employment history is, the more likely it is that you will get the lowest rates in the marketplace. Check the Internet to review rates between different lenders, seeing that different banks offer slightly unique rates. Remember that the low the interest rate, the lower your payment will be.

Length associated with Loan

You’ll also need to decide whether you will want thirty-year or a fifteen-year mortgage loan. A thirty-year loan will provide the lowest payment but you’ll pay lots more interest over the life from the loan, says Local Records Offices. If you can afford to, opt for the fifteen-year loan, if you plan on which to stay your house for a while.

The actual mortgage loan premiums along with time mortgage loan will certainly play a tremendous aspect in your fiscal well-being. This important loan is on your most important asset: your home. Be sure to go with a loan provider that has excellent customer satisfaction, and that’s been in the industry for a while, and this offers wonderful premiums.

Local Records Office’ knows owning a home is the American dream to the majority of people in America but it’s not always as easy as it looks on TV, a lot of work has to be done to be pre-approved and to get your foot in the door to get a mortgage.

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Quick Way To Lower Your Property Taxes Problem – Local Records Office

LOCAL RECORDS OFFICE: If you are a property owner, you can hardly slither away from the clutches of paying taxes. Having spent your winter holidays and said adieu to your dear folks, you may be hit with a shock after seeing your annual property tax reports sitting inside your mailbox says, ‘Local Records Office’. Never panic if your consolidated tax for the year is skyrocketing! You can always find ways to sort things out even if it’s a herculean task.

Even if you are the rightful owner of your property, you often wonder why on earth am I spending big bucks on property taxes. No commotion. After all, the property you own rests on this very earth with distinctive territories that nations own says, ‘Local Records Office’. That is not to say that it’s a hard and fast rule and do not dare to give a second-thought. Try to analyze the tax report. How the levied tax has been broken down? Was there anything in it that’s misleading and calls for reassessment? Or perhaps property tax reduction?

Local Records Office: Property Tax Reduction

Knocking the doors of a tax assessor may be a viable solution for all your taxing money concerns. Indeed, it may lead to bringing his attention towards any loopholes in the drafted tax report. Or you may fax or email a property tax appeal letter to your county’s tax board highlighting the tax specifics for a change over. In fact, all the roads lead to Rome. Either way you can seek the help of tax officials, and if you put your heart in it, you soon notice finding themselves in a position to lower taxes for your property.

Watch out! No mindless prep ups before you make way for a tax assessor heading your property. Also, don’t be fooled underestimating him. All assessors are as prudent as a serpent. Better be an penniless implorer than a money-savvy treasurer in the eyes of a tax assessor.

Local Records Office: First Things First

Local Records Office says, “You can never come to a conclusion after going through your tax report in a single go. First up, walk down to your locality’s tax assessor office and ask earnestly for your property’s record card”. Browse through the card and to your surprise; you can see that it has a run-down about the nook and crannies of your property. It takes you virtually to your own property walking the length of your marked rooms and garage with their dimensions and scanning the property fixtures for its life and worth.

If you get going, you may happen to step into a bathroom or bedroom that does not exist at your property if you’ve been there. In such a case, you may bring this issue to the attention of a tax assessor at the office and do away with the false entry in the record card. Eventually, you may end up in property tax reduction to your own benefit.

Local Records Office: Sneak Peek Your Next Door

Don’t wear blinkers like horses while reevaluating your property and open your mind to explore your neighborhoods too says, Local Records Office. Does the build-out of your next-door buddy’s space is the same as that of your own? If so, have a crosscheck whether his total tax outstanding goes with what yours really is. Luckily, you come up with a mismatch and be sure don’t hesitate to make your move. Ask the tax assessor to look into it for reconsideration and guide you in property tax reduction.

This is when a tax advisor comes in handy to wash out your doubts on new construction. Rise up a lot of questions and finally, take a wise decision.

 

DIY: How to Get Rid of Your Termite Problem in Your New Home – Local Records Office

LOCAL RECORDS OFFICE: You just moved into your new home, after a few days you notice that you have a termite problem. What do you do now? Most of your saving went towards your down payment. ‘Local Records Office’ has created this easy and cheap DIY article to help you. Because we know termites are one of the most feared pests as their action can be devastating, not only in furniture and wooden objects, but even in the large structures of the home such as beams. It is important to act when there are visible signs of these insects in this house, as they act very quickly. Pest control professionals are best equipped to put an end to the problem.

Red Flags That Should Raise Concern on Inspection Local Records Office

Termite Problem Could be Very Serious

Local Records Office says, “Numerous pests and insects may infest you home, such as moths, flies, ants, etc. Of all the pests, however, termite infestations may be one of the most problematic, with devastating effects”. This is due to the fact that they feed on cellulose and therefore can ruin any surface or wood object and its derivatives, like wooden beams and other structural elements of a home. Needless to say, termites are small bugs that can cause big damage.

There are two types of termites:

  • Underground termites: live in damp earth. They are often not seen initially. They attack wooden structures and are very destructive.
  • Wood termites: these are visible and leave marks in the form of sawdust, holes in wood, traces, etc. These are usually noticed and exterminated before causing a lot of damage.

For this, we recommend that at the earliest evidence or symptoms of termites you contact a specialist in home pest control. Although they may be expensive, they know best and will be able to get rid of these annoying insects before it is too late. Remember that not doing anything about the termites right away will cost you more on home repair in the long run.

Termites Come in Colonies

Even so, there are some methods that can be used to put an end to the termites. Boric acid is an antiseptic that is available in pharmacies that it is also used to tackle infestations of ants and other insects.

There are also pesticides and other chemicals with which you can to try to eliminate the termites in your home. Go the Home Depot, DIY shop or specialist shop where they can inform you further.

READ MORE: Do a Mold Inspection Before Buying a House

Furthermore, there is also the possibility of using bait with pesticides to ensure that the termites carry these to their nests so all the insects die. This method is slow and not guaranteed, especially if the infestation is already extensive.

The fact is that the best method to eliminate the termites is by prevention. To stop them entering the home, cover all cracks and other corners where they can creep in. Also, monitor the furniture, especially the oldest pieces, to ensure that they are in perfect working order.

It is also important that you know how to prevent clothes moths, another of the common home pest.

To learn more about real estate and Local Records Office go to www.Local-Records-Office.org

 

Easy Way to Read Real Estate Listings Like a Professional – Local Records Office

This is the easy way to read listings in Florida by ‘Local Records Office’

LOCAL RECORDS OFFICE: Reading real estate listings can be a real challenge for the uninitiated. The abbreviations are confusing, and the descriptions are designed to appeal to the buyer’s hopes and dreams, emphasizing the positive while downplaying any potential issues with the home says, ‘Local Records Office’. Understanding what the descriptors mean, and perhaps more importantly, analyzing your own needs and desires, helps you to choose the home that will suit your family for years to come.

Reading Real Estate Listings is Easy, No really!

Understanding real estate listings doesn’t have to be an insurmountable challenge. Within context, most abbreviations are easy to decode. While “cozy fixer upper” is simple enough to decipher, what about a home that’s listed as having CAC and CH, as well as HDWD FLRS and a GRMT KIT, and an AEK? The savvy reader will accurately guess that this home has central air conditioning and central heating. The floors are hardwood, and the home sports a gourmet kitchen. All the appliances are powered by electricity in an “AEK“- all electric kitchens.

Local Records Office | Property Report

This is How Listings Are Sorted

Local Records Office says, “Listings are most frequently sorted by the number of bedrooms and bathrooms a house has”. Consider not only the size of your family but the ways in which you intend to use the rooms. Will you need an extra room to install an in-home office? Once you’ve chosen the number of bedrooms and decided on a number of bathrooms, you can narrow down the choices.

The next thing to look at is the details. A CATH CEIL (cathedral ceiling) indicates an elegant style while a f/fin (fully finished basement) may be ideal for young families with active kids. If you’re looking for a home in move-in condition, look for Q POS, short for quick possession. An EFF KIT, or efficiency kitchen, is much more compact than a traditional kitchen. A home with efficiency may be apartment-sized, perfect for a single person who prefers a smaller home with a lower maintenance commitment. A manageable lawn also indicates a smaller home.

 

READ MORE: 6 Common Mistakes Executors of Estate Make – Local Records Office

 

Wall to wall carpet, abbreviated to W/ W CPT, is a luxury many families enjoy, and a WBFP (wood burning fireplace) provides an extra touch of nostalgia. A W/ D indicates that the home has a washer and dryer, and a WIC is a walk-in closet. Families with young children will want to watch for SP or PL in their listings, which indicate that the home comes with a swimming pool.

Once you understand the details presented in real estate listings, the task of searching out the perfect home becomes much less complex says, ‘Local Records Office’. Viewing homes takes time and can be exhausting. You won’t want to waste time viewing homes that don’t fit your criteria. Be sure to discuss your family’s needs with your agent so that you can work together to find the right home for your family.

Understanding the listings empowers buyers. Choosing the right home to visit depends upon understanding the listing, and accurately interpreting the codes used to describe the home. Once you know how to read real estate listings, you gain control over the process of searching for your next home.

 

Crucial Facts You Need to Know About Home Appraisals – Local Records Office

‘Local Records Office’ collected important tips for real estate and home appraisals in Florida

LOCAL RECORDS OFFICE: A home appraisal is a critical component of any real estate transaction that involves a mortgage loan says, ‘Local Records Office’. If you are refinancing you will need an appraisal, if you are selling your home to someone that needs to get a mortgage, he or she will need to have an appraisal done.

What Really Is a Home Appraisal?

A home appraisal is an opinion on value by a qualified, unbiased third party. Mortgage lenders require an appraisal to be completed when you are refinancing your mortgage. An appraisal is also completed in a transaction when someone is buying a home to make sure they have not over paid for it.

Local Records Office says, “Mortgage Lenders require appraisal to ensure that homeowners are not over paying for a property because if the borrower stops paying for the mortgage the lender will take action to remove the borrower from the home and sell it to recoup their money, this is why it is important for the home to be worth more than the money loaned”. In essence, a home appraisal is a lawyer of protection for the mortgage lender.

The Appraisal Process and How Appraisal Values Are Determined

These are the main factors that influence your home’s appraisal value: current market trends which are reflected in the comparable properties the appraiser selects, the house’s features, square footage, number rooms/bedrooms & bathrooms, condition, is the property considered up to date, landscaping and exterior condition and parking (garage). The appraiser will do an interior and exterior inspection for the above noted factors and will also make note of any deferred maintenance, which will be included in the report for the lender says, Local Records Office.

The appraiser will complete his report on a standard report form that is required by their appraisal jurisdiction. The information that has to be included in an appraisal report will not vary much from Canada to the United States.

A standard report includes the following: comparable sales, a street map, building sketch, square footage, photos of the front, back and street scene of the home, photographs of each comparable property used; a map showing the location of the comparables in relation to the subject property, plot map, description of intended users of the appraisal report, photo and description of each room in the house.

The cost of a residential appraisal report ranges from $250-$500 and the homeowner is typically responsible for paying the appraiser.

What Homebuyers Need to Know

When you’re buying a home an appraisal could potentially sink your deal. If you make an offer to purchase a house, towards the end of the home buying process your mortgage lender will require that the home being purchased be appraised says, ‘Local Records Office’. If the home appraises for less than your offer to purchase the lender will not provide the loan, however, this could be good for a buyer as well because you may be able to negotiate to lower purchase price but very often at the point of the home appraisal in the buying process an agreement of purchase and sale is already in place.. If a bad appraisal is standing between you and your home purchase, look into getting a second opinion via a second appraisal. Appraisers are not perfect and it is possible for them to make mistakes.

What Home Sellers Need to Know

As a seller, a low appraisal means that you may have to lower your home’s price to get it sold. Lenders won’t approve loans for more than a home is worth, and holding out for an all-cash buyer who doesn’t require an appraisal as a condition of completing the transaction is unlikely to net you a higher sales price. No one wants to overpay for a home but more importantly a mortgage lender will not over lend on the value of a property, therefor if the appraisal comes in lower than what your buyer is offering this will likely sink your deal unless you lower the price.

To learn more about real estate and go to www.localrecordsoffices.net

 

The Patterns Wealthy Real Estate Agents Make – Local Records Office

LOCAL RECORDS OFFICE — Wealthy real estate agents have certain patterns that separate them from other agents in the business, is this the secret to becoming wealthy? It could be. Local Records Office has a few skills of the trade to increase your skills.

Wise Real Estate Agents Know the Neighborhood Very Well

This might sound like a very basic component, but remember that this can make or break a deal. As a real estate agent, potential clients are dependent on the knowledge that you can provide about their neighborhood. The agent must be aware of what is in the market, what the latest transaction in the market was and what the buyer can get for his/her money.

Meeting New people is a Must

This is crucial, because communication is key when you are serving as a medium between two parties. Not only you must keep in touch with sellers, you should also make sure to develop networks with other professionals, as well as individuals who provide complementary series.

 

READ MORE: 8 Ways Your Landlord is Planning to Screw You – Local Records Office

 

They Are Ambitious People

Wait, what? Passion? How can passion be a habit? It can, if you make it one. If real estate is a field that you have always been deeply interested in, then you can make your passion for the field a daily habit. As a medium between a buyer and a seller, a real estate agent must always maintain a friendly, sociable disposition, even while negotiating tough contracts. This can be hard, especially if you are going through some kind of personal crisis, but remind yourself that this is your job, and this is what you love to do.

Smart Phones Are Wealthy Real Estate Agents BFF

Technology can be a very handy tool when it comes to a real estate agent’s job. It can give you an edge over your competitor. You can go paperless using a real estate transaction management system. Filing papers and documents is not just a laborious, but also a time consuming process. Writing eBooks, blogs and articles can help you develop some inbound marketing strategies that will attract clients to you instead of you having to look for clients. Social media can be a very significant instrument. If you release daily content, and engage regularly with your audience, i.e. prospective clients, they begin to notice your substantial amount of knowledge on the real estate market and may look to you when they are in need of an agent.

 

READ MORE: 5 Types of DIY Home Projects that Will Cost You Big Bucks

 

Apart from this, you must keep in mind the basic manners of using technology. Answering phone calls and emails on time is an absolute must. The client should always feel that you are putting his/her best interests first.

They make sure that the client has no doubts about their authenticity: You do this by making sure that you come across to your client as being motivated and sincere. Even if you have assistants working under you, make sure that you are the one taking responsibility for all the work that is done. This will assure clients of your credibility.

To learn more about real estate and Local Records Office go to www.Local-Records-Office.com

 

 

Real Estate Developer Site With a Few Million Deal

A real estate developer has paid $11 million to buy land in the Cool Springs commercial hub, adjacent to land it already owned behind the massive proposed Ovation mixed-use development.

The move by Franklin’s SouthStar LLC just about doubles the company’s development site on Liberty Pike, giving the company a total of 46 acres anchored at 1214 Liberty Pike, at the intersection with Carothers Parkway. The extra land puts SouthStar in position to complement, or expand, its roughly $50 million project planned for this area, featuring apartments and town homes and commercial space fronting Liberty Pike.

Real Estate: Springs Tech Company is Bought by Nashville Real Estate Team

WIRE TELEGRAM — One of Nashville’s more active homegrown real estate companies has paid $22 million to buy rare Cool Springs office space — its single-largest purchase to-date.