Zero Value

Finding a reputable and trustworthy home inspector can prove to be quite a task for the uninitiated. Though there are a lot of home inspectors to choose from in most any area, the trick is in finding someone who can get the job done without ripping you off. In the previous post, we took a look at two important qualifications of a home inspector – his certification and his professional affiliation. Let us look at a few more.

Think about going polygamous.
Now I am not talking about marrying another person here. What I mean is that you should consider looking for a home inspector that is NOT associated with your real estate agent. That is, unless you can entrust your life to your real estate agent. Sometimes, human nature just can’t help it. Your real estate agent just MIGHT have a conflict of interest so to be on the safe side, look for recommendations from other people.

Don’t be afraid to ask questions.
My suggestion is that you list down pertinent questions before you go shopping around for a home inspector. This way, you will be sure of what you want to know and what you want to ask during the interview. You should be the one looking for hesitation and uncertainty on the part of the home inspector. You should give off the aura that you know what you are talking about and that you will not stand wool being pulled over your eyes.

Photo courtesy of patty_mitchell

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A home inspector plays a crucial role when it comes to buying your dream home. Though some of us might not want to admit it, we might not be the best judges when it comes to how solid a house is. That is why need professionals like home inspectors to check these things for us.

Then again, how would you know if a home inspector is to be trusted? Or even if a home inspector is really qualified? Here are some good tips that can help you choose the right home inspector.

Don’t settle for a mere state license or certification.
It is true that good home inspectors need a state license or a certification. However, in many cases, these licenses and certifications may only require the bare minimum when it comes to training. Therefore, you cannot really assume that the inspector is qualified enough, which brings us to the second tip.

Ask for the inspector’s professional inspection organization.
This next tip can help you find a worthy inspector BUT it does not guarantee anything, really. There are still organizations out there that would accept members without really looking into their background and qualifications. As such, your best bet would be to look into the organizations first. There are plenty of professional organizations in existence today. That is why it would be a good idea to look at some of the more reputable ones and then look at their list of home inspectors that offer their services in your area.

(to be continued)

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Which cities are the best when it comes to buying homes? I am sure that every American would have his own answer to this question. Yet do we have information as to which cities really are ideal for housing? More so, in this day of mortgage problems and increasing prices, is there still such a thing?

The people over at Forbes.com think so. In fact, they have come up with the list of 10 cities which are the best places to buy a home right now. And they are:

10. Atlanta, Georgia
Reason: Available jobs and a reasonable cost of living. As such, it is safe to take out a mortgage in the long run.

9. Jacksonville, Florida
Reason: Increasing population, abundant sunshine, fresh air, and clean water.

8. San Francisco, California
Reason: Despite the fact that it could be quite pricey to live here, the culture and way of life could be quite attractive to some people. This place is perfect for urban young professionals.

7. Charlotte, North Carolina
Reason: This is the second largest banking city in the country. It also offers a lot of cultural attractions and has a relatively high vacancy rate. This means houses are waiting to be snatched up.

6. Dallas, Texas
Reason: Urban setting or the suburbs – you can take your pick. The median price for houses is relatively low at $150,000, which means that more people can afford to buy houses. More so, their vacancy rate at present is 2.5%, giving people more choices.

(to be continued)

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For those homeowners who are feeling the crunch of the economic times, the government has done something to help alleviate the pressure. Early this morning, it was reported that President Bush signed a bill that is aimed to provide relief for homeowners and the biggest mortgage groups in the country, Fannie Mae and Freddie Mac.

ABC News reports:

The Housing and Economic Recovery Act of 2008 will allow a limited number of homeowners who can’t afford their mortgage payments to refinance with government-backed loans. As many as 400-thousand families become eligible for help refinancing expensive mortgages. This will not help homeowners who have already been hit with foreclosure. The measure will also give the Bush administration new authority to control Fannie Mae and Freddie Mac.

“We look forward to put in place new authorities to improve confidence and stability in markets, and to provide better oversight for Fannie Mae and Freddie Mac,” White House spokesman Tony Fratto said. “The Federal Housing Administration will begin to implement new policies intended to keep more deserving American families in their homes.”

The whole idea is quite attractive, especially for those homeowners who are saddled with hefty mortgage payments. However, as the excerpt above states, those who have already had their homes foreclosed will not be affected by the bill. More so, the bill cannot encompass every single American family who has a mortgage. The figure that has been thrown around is 400,000. I am quite sure that the figure of families struggling with mortgage could easily be double this number. What about them?

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The credit crunch and the general state of the economy are making things hard for many people these days. Homeowners may not have to pay their rent but they do have mortgages to worry about – among other expenses. Perhaps that is one of the reasons why the queen of talk shows has created a challenge for families all over the United States. Called Your Family’s “Live with Less” Challenge, it is aimed to help wasteful families to re-evaluate their lifestyle and, hopefully, make some changes for the better.

Here is an excerpt of Oprah’s letter, which she presents to the participating families at the beginning of the challenge.

For one week, you’re going to give up the bottled water habit. Get a water filter—time to get to know your tap.

No more disposable plates, cups, napkins or paper towels. Try cloth—you might like it!

For entertainment, you’ll have to rely on each other. For one week, I’m asking you to give up your iPods and video games, and your computers only get turned on for homework. TV is limited to one hour per night—one TV only.

That thermostat is going way down…to 69 degrees. If you get cold, put on a sweater.

Give your washing machine a break—try to wash only clothes that are TRULY dirty.

When you leave a room, lights out. Ditto for fans. When you’re done using an appliance, unplug it. Don’t forget your computer and cell phone chargers too.

I think that though we may not all be able to participate “officially” in the challenge, we may very well learn lessons from it. Why not take a step back and re-evaluate your own lifestyle?

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Every year, I see these articles about the most expensive places to live in. I do not know why I feel the need to read more about this topic. Do I want to know if I live in one of the most expensive places? Do I want to know which places are expensive so I wouldn’t even consider buying a house there? I don’t really know but these articles sure make for an interesting read.

This week, I read an article at Yahoo, detailing some of the most expensive cities in the country today. Unsurprisingly, New York City is at the top of the list. How much do you pay for rent in The Big Apple? A whopping $4,500 a month for a 2-bedroom luxury apartment. Oh, and that does not come with any furniture, mind you.

Next on the list is another “unsurprise” – Los Angeles. Though rent and other costs are to blame for the label, one other reason for the high cost of living in this city is the commute that many residents have to go through. Add to this the ever increasing price of gas and you will understand why it is number 2.

So how did they determine which cities got into the list? The Yahoo article states:

To determine the U.S. cities where the cost of living is highest, the London office of Mercer, an American human resources consulting company, measured the prices of the same basket of goods in 253 of the world’s cities. The basket is composed of over 200 products, representative of executive spending patterns and including everything from rent for a luxury apartment to the cost of a fast-food hamburger.

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In the previous post, we looked at how bank web sites and government agency web sites can be your main sources of information on foreclosed homes that are for sale. Are there any other options open to you if you are in the market for a new home? The answer is a resounding YES. Aside from these web sites, you can also do the following.

Real estate signs
This option requires more physical activity on your part. As opposed to the options presented in the previous post (where you just have to turn your PC on and browse), you have to drive around the neighborhood wherein you want to buy your home. When you drive around, look for FOR SALE signs and pay particular attention to the information on them. Look for signs that say FORECLOSURE and then contact the real estate agent on the sign.

Real estate agents
If you do not have time to go running around neighborhoods, then you might as well get in touch with a real estate agent. After all, this is their business and they will have top information on property for sale. You just have to indicate that what you are looking for are foreclosed homes which present a good deal.

Asset management companies
You can also contact asset management companies in your area to inquire about foreclosed homes. Oftentimes, banks or lenders hire these companies to handle foreclosures. As such, they will have information of foreclosed homes that you can buy. You can do this by looking at their web sites or even calling them on the phone.

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I am a firm believer in respecting others and not benefiting at the expense of others. Yet as in many things, this could be quite relative. As sad as the situation may be with many homes being foreclosed, those who are in the market for a house today could actually benefit from the situation.

What happens when a house in foreclosed? They are normally put in the market for very low prices. This is where you can benefit. However, you also have to remember that not all foreclosed houses are good deals. Some of them may come dirt cheap but they may have attachments such as liens or mortgages.

The best thing to do would be to look around and find a good bargain. How do you go about that? Here are some ways by which you can hunt for a foreclosed home to buy.

Bank web sites
Banks lend money to homeowners so that they could purchase or build their houses. They also lend money using the property as collateral. When the borrower fails to pay back their loan, the property is reclaimed by the bank. It is then left to the bank to liquidate the property that they have repossessed. You can usually see these properties listed on the bank’s web site.

Government-owned listings
Banks are not the only institutions that lend money using homes and properties as collateral. There are government agencies which function much in the same way. They also foreclose properties and then put these properties up for sale. You can visit the web site of the Department of Housing and Ubran Development for more information.

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Last time I said that “The most common way to get people’s attention and to invite them to your yard sale is simply by putting up yard sale signs.” Today I’ll be giving more tips on what to do when making a ward sale sign.

2. Use arrows - Always make sure that your signs have arrows that point people to the RIGHT DIRECTION. Last time the yard sale sign illustration was a perfect example of a very clear sign using huge easy to read fonts and contrasting colors. However, if you notice, it didn’t have any arrows. Aside from merely using arrows make sure that the direction the arrow points to is clear, especially if the road splits in several directions.

3. Place signs in strategic locations - A clearly written sign with clear arrows are useless if they are not strategically located. Place the yard sale signs on corners/bends. This is not so important in dead ends but very important in intersections and forks.

4. Keep it clutter-free - You can offer additional info such as your address in smaller letters but DO NOT list down all the great items you have on sale. However, if you are putting up a yard sale sign near an antique shop you might want to places antiques for sale. Just showcase one item/item class for each sign WHEN APPROPRIATE.

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If you want to have a successful yard sale the first thing you should make sure is that your “junk” is still worth buying. They may not be in the best condition but things need to still be serviceable or those that do not work any longer should be salvageable. Assuming that the stuff put out for sale can still be sold the next thing you should make sure you do to have a successful yard sale is to find a way to attract your costumers.

The most common way to get people’s attention and to invite them to your yard sale is simply by putting up yard sale signs. When making a yard sale sign make sure that:

1. It can be seen clearly - What this means is that you should make the signs and the lettering on the signs large enough. This also means that you should write in a clear handwriting. It is best to use block letters. You should also choose colors that easily gets attention. Large clear white letters on a black or red backdrop should work. There is no best color but just make sure that the letters contrast against the background.

Another aspect that shouldn’t be overlooked would be the placement of the signage, If you want it to be seen clearly then post it somewhere prominent enough. Place it eye level or slightly above eye level. You should also place it in posts/walls where there aren’t too many other signs posted, otherwise your sign will “get lost” behind all that clutter.

to be continued…

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