Category Archives: #JacksonvilleFL

7 WAYS HOME BUYERS LOSE MONEY BEFORE THEY EVEN BUY A HOME

01 Tuesday Sep 2020

Posted by in #HanleyHomeTeam, #HomeBuyer, #HomeBuyingTips, #HomeOwner, #housegoals, #househunting, #Jacksonville, #JacksonvilleFL, #KellerWilliams, #Movingday, #RealEstate, #Townhouse, real estate, Uncategorized

≈ Leave a comment

Tags

, , , , , , ,

cheerful couple having video chat via laptop

Photo by Ketut Subiyanto on Pexels.com

A MORTGAGE IS THE BIGGEST DEBT MOST OF US WILL EVER HAVE. BECAUSE THE NUMBERS ARE SO BIG, THOUSANDS OF DOLLARS (OR POUNDS, SHEKELS, OR OTHER MONETARY SYMBOLS) CAN SLIP AWAY WITHOUT A BORROWER EVER NOTICING. HERE ARE 7 MONEY-DRAINING CRACKS THAT HOME BUYERS NEED THINK ABOUT.

1. Ignoring the true cost of home ownership

Owning a home comes with new expenses that surprise many buyers. Even experienced home owners can forget how much it costs to upgrade a home, improve outdated features, and fix hidden problems. It’s wise to take these costs into consideration before signing on the dotted line.

Before purchasing, calculate realistically what you’ll need to spend to get the home up to your standard. In some cases, you may be better off paying more for a home that’s already been upgraded than paying for a cheaper home that needs more work. 

On the other hand, if you are struggling to make a down payment on a more expensive home, then buying cheaper and putting money into it over time and using your own sweat (“sweat equity”) might offset the higher down payment you would have had to make on the more expensive home. 

A 20% down payment on a $300,000 is $60,000. If you can’t afford that, consider buying a nearby fixer-upper. That home might only cost $225,000, with a down payment of $45,000. The extra $15,000 might be enough for you to do many upgrades that would bring it close to the standard of the more expensive home, but you won’t need to come up with that extra $15,000 up front. This might be a good investment option—as long as you go into it with eyes wide open…along with a really good home inspection.

Ongoing Maintenance

The longer you own a home, the more you’ll want or need to make expensive fixes. A new roof may be in your future, as well as repairs to a cracked driveway or installation of a new fence. Some items can sneak up on you, like tree removal service, a broken water main, and termites!

As a rule of thumb, budget 1 to 2% of your home’s purchase price annually for maintenance. If your home will cost you $250,000, expect to spend $2,500 to $5,000 annually on unglamorous purchases like a new water heater or having your furnace serviced. The older your home and the larger it is, the more you’ll spend. 

Also consider a savings fund for big ticket items. If your roof has a life expectancy of 5 years, start putting aside a little each month now.

2. Becoming house poor

There are many places in your life where you’ll need to put money besides your house. Replacing a worn-out car. Saving for retirement. Building a college fund for the kids. Life-altering vacations. Even buying furniture for your home. If you’re spending too much on a mortgage, you won’t have money for these other investments.

A general rule for housing affordability is to spend no more than 28% of your gross income on a mortgage. So, if you earn $75,000 a year, you should spend no more than $1,750 a month on payments, including insurance premiums and association fees. You can use a mortgage calculator to see how much house you can buy for the amount you can afford monthly, and how much down payment money you’ll need.

3. Not shopping around for loans

While it may seem to the average consumer that all mortgage loans are alike, and a loan broker may not even offer any options, the truth is that you do have options. You may be more or less qualified for some kinds of loans that offer better rates or terms. A military veteran’s loan is a good example of this, offering a zero down payment for some people. There are also loans for teachers and other job types, and loans for buying in certain areas.

Aside from special loans, your standard loans also come with different price tags…

According to Sergei Kulaev on the website, Consumer Financial Protection Bureau, “Our research showed that a borrower taking out a 30-year fixed rate conventional loan could get rates that vary by more than half a percent. Getting an interest rate of 4.0% instead of 4.5% translates into approximately $60 savings per month. Over the first five years, you would save about $3,500 in mortgage payments. In addition, the lower interest rate means that you’d pay off an additional $1,400 in principal in the first five years, while making lower payments.”

To compare prices, you can use one of many websites that allow you to request bids from mortgage brokers. One broker may know of a special loan that another doesn’t know about, and all may have different fees. The fees and interest rate differences between these loans can be huge, especially over the life of the loan. 

You can also compare loans by calling different loan brokers personally. Be sure to include one or two bank lenders and credit unions on your list. Many of these bankers have in-house loans that might be better than another company’s loans. 

4. Ignoring the APR

Some lenders advertise low interest rates but make up for the low rates with high up-front fees. If you were to spread the cost of those fees out over the life of your loan, you might discover that your effective interest rate is actually higher than you could have gotten with another mortgage. Sometimes a lower rate loan has a higher “effective” APR…making your loan more expensive over time.

APR means Average Percentage Rate and includes all the fees as though spread over the life of the loan. For instance, imagine a $100,000 30-year fixed-rate loan with an interest rate of 3.85%. Now imagine the lender charges two points (a 2% buy-down of the interest rate), a 1% origination fee, and $1,500 in other closing costs. That brings the “real” interest rate from 3.85% to 4.215% APR.

Next, imagine a $100,000 loan at 4.05%, but with no points (no buy-down), a 1% origination fee, and just $800 in other closing costs. That loan’s “real” rate is 4.199% APR.

The first loan looks cheaper on the surface, but it’s really more expensive. The difference may only amount to $10 or $11 per year, but that’s your money, year after year. If you paid your mortgage for 30 years, you would pay an additional $3,650. That’s money you could have in your hand at the end to pay off another bill, put into your retirement account, or take a vacation!

Of course, if you plan to sell in 5 years, the extra $50 might not matter to you, in exchange for working with a broker you like, or someone more willing to give you a loan based on your credit rating.

5. Making a small down-payment

Most loan programs require a 20% down payment to get the best rates and avoid paying mortgage insurance — an extra cost that typically adds $100 or more to your monthly payments! You want to avoid paying that extra premium if possible. It goes away after the home’s value rises to more than 20% of the loan value, but until that time, you could be paying an extra $100 per month for many years, with nothing to show for it.

If you can’t afford 20% down, consider three things:

  1. Maybe you should wait until you’ve saved up enough down payment.
  2. Maybe you should buy a cheaper home, where you have a 20% down payment.
  3. Maybe you can put 15% down…that will help.
  4. If you have to buy now and pay the mortgage insurance premium, but you plan to make renovations, consider getting a reassessment of value as soon as possible. Ask the lender how soon you can do that…some loans won’t reassess under two years, leaving you stuck with $2,400 in extra payments! 

6. Not checking and fixing credit reports

Checking your credit report should be a part of your annual financial health checkup anyway, but when you are about to apply for a mortgage, it’s extra-important. Why? Because credit rating equals interest rate. 

A low or poor credit rating will result directly in higher interest rates and higher monthly payments. The worse your credit, the higher the rate. Conversely, a lower rate might mean you can buy a more expensive (nicer) house. 

But many credit reports make mistakes. Sometimes it may be a legitimate financial shortcoming on your part, but one that you “fixed” a long time ago, such as an unpaid library bill. It should have been removed from your report, but lingers. You have a right in most countries to contest that item and have it removed. Then have your credit rating rebalanced. 

Doing this can mean the difference of many thousands of dollars, and even determine whether or not you get the home of your dreams.

Also, keep an eye on your credit usage. A high credit usage will cause lenders to be concerned that you are over-extending yourself. Lower credit usage demonstrates wise or controlled spending, which they like. However, don’t pay off or close your credit lines entirely. Keeping some credit also demonstrates credit-worthiness more than keeping no credit at all.

7. Not waiting until you’re more financially stable

As alluded to earlier, sometimes a buyer just needs to wait until they have more money before buying a home. 

Down Payment—Coming up with a 20% down payment can be financially wise. It will result in less to pay off, and a lower monthly payment, and it will save on the mortgage insurance premium. It can be hard to wait, to delay gratification, but it can make a huge difference over the years to come.  

Quality of Life—Also, making sure there is enough income to afford the maintenance, and be able to enjoy life besides, are strong reasons to plan long term for a home purchase. 

Balance of Interests—However, there are legitimate reasons to buy a house, even if it stretches you financially. If it seems that house values are rising fast, or you’re able to score a great deal, or you need to purchase for another personal reason, then you may be better off jumping now, rather than waiting for the perfect financial picture.

Contact me for smart home buyer representation BEFORE YOU START HOUSE HUNTING! WE’LL HELP YOU AVOID SOME OF THE HIDDEN EXPENSES.  Simply reach out to Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com Team@HanleyHomeTeam.com

Home Flipping Hits 14-Year High

25 Tuesday Aug 2020

Posted by in #buyandhold, #DIY, #HanleyHomeTeam, #HomeBuyer, #HomeOwner, #HomeSeller, #Jacksonville, #JacksonvilleFL, #KellerWilliams, #Passiveincome, #RealEstate, #sellingyourhome, DIY, Jacksonville, real estate, TIPS, HACKS, Uncategorized

≈ Leave a comment

Tags

, , , , , , , , , ,

 

upside down house

Photo by Magda Ehlers on Pexels.com

While the real estate market in general is adapting to new challenges and market conditions, one segment of the market is going strong. Home flipping is boasting its best numbers in 14 years.

The newly released first-quarter 2020 U.S. Home Flipping Report from ATTOM Data Solutions shows that “53,705 single-family homes and condominiums in the United States were flipped in the first quarter. That number represented 7.5 percent of all home sales in the nation during the quarter, up from 6.3 percent in the fourth quarter of 2019 and from 7.3 percent in the first quarter of last year.” Those are the highest numbers since the second quarter of 2006.

The gross profit for home flips across the country also rose over the same time period, to $62,300. “That was up slightly from $62,000 in the fourth quarter of 2019 and from $60,675 in the first quarter of last year,” the report said.

If you’re looking to get in on the flipping trend, here are a few insights:

  • You don’t need to buy a million-dollar fixer. “Homes flipped in the first quarter of 2020 were sold for a median price of $232,000.”
  • Profits will be larger where the home prices are higher. “The highest first-quarter 2020 profits, measured in dollars, were concentrated in the West and Northeast. Among metro areas with enough data to analyze, 13 of the top 15 were in the those regions, led by San Francisco, CA (gross profit of $171,000); San Jose, CA ($165,000); Los Angeles, CA ($145,000); New York, NY ($141,899) and Honolulu, HI ($140,190).”
  • The lowest profits were generally in southern metro areas, such as “Springfield, MO ($20,203); Daphne, AL ($20,650); Raleigh, NC ($21,250) and Durham, NC ($25,000).”
  • Don’t think you have to turn the home around and sell it in 30 days. “The average time to flip nationwide is 174 days.”
  • You don’t need to pay cash upfront for the home, as the percentage of flipped homes purchased with financing in the first quarter of 2020 was 40.5 percent.

Need some advice on investing and flipping? Get in touch today!  Kevin and Jennifer Hanley, REALTORS – The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside – 904-515-2479 http://www.HanleyHomeTeam.com Team@HanleyHomeTeam.com

It’s True What You Hear! There’s Never Been a Better Time to Sell!

30 Tuesday Jun 2020

Posted by in #HanleyHomeTeam, #HomeBuyer, #HomeOwner, #HomeSeller, #JacksonvilleFL, #RealEstate, #sellingyourhome, real estate, Uncategorized

≈ Leave a comment

Tags

, , , , , , , ,

home for sale illustration
filo / Getty Images

NAR: Pending Home Sales Soar 44.3% in May

By Kerry Smith
The increase broke all records since NAR started tracking the sales. At May’s 99.6, the pending sales level was about equal to those in 2001. NAR’s economist calls it a “spectacular recovery for contract signings” and shows “the resiliency of American consumers.”

WASHINGTON – Pending home sales mounted a record comeback in May, seeing encouraging contract activity after two previous months of declines brought on by the coronavirus pandemic, according to the National Association of Realtors® (NAR). Every major region recorded an increase in month-over-month pending home sales transactions – and the South also experienced a year-over-year increase in pending transactions.

The Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – rose 44.3% to 99.6 in May, chronicling the highest month-over-month gain in the index since NAR started the series in January 2001.

While the increase broke records, however, year-over-year, contract signings fell a slight 5.1%. An index of 100 is equal to the level of contract activity in 2001.

“This has been a spectacular recovery for contract signings, and goes to show the resiliency of American consumers and their evergreen desire for homeownership,” says Lawrence Yun, NAR’s chief economist. “This bounce back also speaks to how the housing sector could lead the way for a broader economic recovery.”

“More listings are continuously appearing as the economy reopens, helping with inventory choices,” Yun says. “Still, more home construction is needed to counter the persistent underproduction of homes over the past decade.”

According to data from realtor.com, active listings were up by more than 10% in May compared to April in several metro areas.

“The outlook has significantly improved, as new home sales are expected to be higher this year than last, and annual existing-home sales are now projected to be down by less than 10% – even after missing the spring buying season due to the pandemic lockdown,” Yun says.

NAR now expects existing-home sales to reach 4.93 million units in 2020 and new home sales to hit 690,000.

“All figures light up in 2021 with positive GDP, employment, housing starts and home sales.” Yun says that in 2021, sales are forecast to rise to 5.35 million units for existing homes and 800,000 for new homes.

The month of May saw each of the four regional indices rise on a month-over-month basis after all were down in April 2020. The Northeast PHSI grew 44.4% to 61.5 in May, although it was still down 33.2% year-to-year. In the Midwest, the index rose 37.2% to 98.8, down 1.4% from May 2019.

Pending home sales in the South increased 43.3% to an index of 125.5 in May – a 1.9% increase year-to-year. The index in the West jumped 56.2% in May to 89.2, down 2.5% from a year ago.

© 2020 Florida Realtors®

Has quarantine forced you to consider a split from your home?

20 Saturday Jun 2020

Posted by in #HanleyHomeTeam, #HomeBuyer, #HomeBuyingTips, #HomeOwner, #HomeSeller, #housegoals, #househunting, #Jacksonville, #JacksonvilleFL, #KellerWilliams, #Movingday, #Quaratine, #RealEstate, #sellingyourhome

≈ Leave a comment

Tags

, , ,

family preparing food in the kitchen

Has spending more time at home lately had you reconsidering your space? The quirks you lived with just a few months ago might not be so easy to dismiss when you’re stuck with them all day, every day. Here’s how to tell if your relationship with your house can recover or if it’s time to move on.

You have no appetite for a renovation
Your home might be a good candidate for a makeover, but if the thought of living in a dusty construction zone with contractors coming and going is unbearable to you, then it’s time to start over. There’s no shame in foregoing renovations for something move-in ready. After all, there will be plenty of eager DIYers happy to make you an offer.

You’re not crazy about your neighborhood
You know what they say: location, location, location. We’ll put up with a lot for our home to be in a nice spot, close to work and in a good school district. But maybe that spot doesn’t work for you anymore. Do schools still matter or are your kids older now? Are you working from home permanently and your commute is no longer a factor? When you’re no longer tied to a specific neighborhood, the possibilities are endless.

It’s just too small
If the quarantine has made your small space feel even more crowded, or you need to make space for a new home office (or two), it might be time to upgrade.

It’s too old
We all love a heritage home. The architecture! The charm! The 100-year-old… everything. You may have been ready for the sweat equity when you moved in, but when paired with everyday life, ‘this old house’ can feel more like ‘this new nightmare.’

If the emotional and financial toll of living in a home that is just too much of a project is getting to you, consider shopping for a new one. A new construction home might not give you the same character, but you will get a house that’s brand new in every way and a warranty to boot.

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

National Homeownership Month Has New Meaning This Year By Kerry Smith

08 Monday Jun 2020

Posted by in #HanleyHomeTeam, #HomeBuyer, #HomeBuyingTips, #HomeOwner, #HomeSeller, #housegoals, #househunting, #JacksonvilleFL, #KellerWilliams, #RealEstate

≈ Leave a comment

Tags

, ,

loving mother and daughter blowing kiss on kitchen

Photo by Gustavo Fring on Pexels.com

During the June celebration, Americans honor the benefits of ownership – yet many already have a new respect for homeownership after months of self-isolation.

ORLANDO, Fla. – June is National Homeownership Month, a time to celebrate the benefits of homeownership for families, neighborhoods and communities.

This year, however, many Americans already understand the importance of home as the nation slowly emerges from two months of self-isolation. Before the pandemic, home for many people was a source of operations – the place where they slept before leaving for work, school and exercise.

Suddenly, home is the safest place in the world, and many Americans’ attitudes about ownership have changed. Some renters look around and realize that the place they call home could be bigger or better. They want to paint the walls, change the flooring and own something that continues to rise in value over time.

For many Americans, however, homeownership is at risk. Owners who lost jobs due to COVID-19 may find themselves on a forbearance plan, while some of those renters who dream of ownership have been shut out by tightened credit restrictions and stay-at-home orders.

Still, Americans generally agree that homeownership is one of the best vehicles for building wealth. In 2019, overall home prices rose 4% year-to-year. And while the coronavirus has created issues for the American economy, home prices have continued to rise with demand still outstripping supply.

National Homeownership Month has changed over time. It started as a week-long celebration in the 1920s by local real estate associations and eventually became a month-long celebration created by the U.S. Department of Housing and Urban Development.

Americans can celebrate Homeownership Month by using #CreatingHome in their social media channels. But the best way to celebrate is to actually become a homeowner.

© 2020 Florida Realtors®

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Your Essential Spring Lawn Care Guide

21 Thursday May 2020

Posted by in #DIY, #HanleyHomeTeam, #HomeBuyingTips, #housegoals, #JacksonvilleFL, #yardtips, #yardwork, Uncategorized

≈ Leave a comment

Tags

, , , ,

Tired of looking out the window at your dull, dormant lawn? A little prep now will give you a green lawn all summer long.

garden grass meadow green

Photo by Skitterphoto on Pexels.com

Rake
First things first, gently rake leaves, twigs, and dead grass off your lawn, and remove snow mold if you live in colder climates. This allows air and sunlight to reach down to the grass roots. Avoid power-raking, as hacking away at the ground can damage shallow grasses and good soil.

Weed
Weeds like dandelions, hairy bittercress, common chickweed, and henbit go dormant in winter and re-emerge in the spring. For best results, pull as many weeds as possible by hand or use a hoe. Be sure to get the entire plant, roots and all. If you use a pre-emergent weed killer, make sure it’s a calm day. Wind can spread the chemicals onto plants you don’t want to kill and into waterways you don’t want to pollute.

Aerate
Aerating — making small holes in your soil — lets air, water and nutrients reach the roots of your lawn, encouraging healthy growth. On newer lawns (1-3 years old), aeration is encouraged twice a year, in the spring and fall. After that, you can switch to once a year in the spring. Don’t rake the plugs; leave them on the lawn as topsoil. Mow over them, and they will decompose naturally.

Overseed
Overseeding is the practice of spreading grass seed over your existing lawn. Cover bare and thinning patches of grass using a mix of seed that includes slow-growing and low-growing grasses — fine fescue or centipede grass, for example. Cool-season grasses such as bluegrass and annual ryegrass benefit the most from overseeding.

Water
Watering early in the morning prevents wasteful water evaporation and lets the grass blades dry before evening, which helps prevent insect and disease issues. Watering deeply and less frequently makes the roots stronger and deeper. Soil should be moistened to a depth of 6 inches a couple of times a week. Avoid overwatering, as soggy roots will rot and attract disease and insects. As a test, take an 8-inch screwdriver and push it into the lawn. If it goes in easily, your lawn is moist enough.

Fertilize
Fertilizer helps keep your lawn healthy, so it can resist disease and weeds. Grass often needs more nitrogen, phosphorus, and potassium than the soil naturally provides. Use fertilizer before the heat of summer but avoid fertilizing when the ground is wet, or you risk fertilizer burn.

Mow
When the grass is growing well, it’s time to mow. The proper mowing height will depend on your type of grass, but for good lawn health, follow the “one-third” rule: Never cut off more than one-third of the length of the grass. Mow more often when growth is peaking and back off when grass growth slows. It’s also best to “grasscycle” by leaving the grass clippings on the lawn. They return moisture and nutrients to the soil, so you’ll need less fertilizer.

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

How to Redecorate Your Space

12 Tuesday May 2020

Posted by in #HanleyHomeTeam, #JacksonvilleFL, #KellerWilliams, #RealEstate, DIY

≈ Leave a comment

Tags

, , , , , ,

brown wooden desk with rolling chair and shelves near window

Photo by Huseyn Kamaladdin 

Interested in refreshing your home? Want a different vibe? Can’t afford a decorator, but completely lacking in decorating skill yourself?

Good news! Even with all those constraints, you can still pull together a fabulous room. You’ve been in homes you like, so you already know what you like when you see it. You can use that natural ability to your advantage.

3 Places to Get Inspiration

Here are three places to start.

  1. Start with an inspiration room. Look through magazines or websites like Houzz, Studio McGee, or Apartment Therapy. Find a room that perfectly reflects what you like. Then study that room. Understand what they’re doing that you love. Then look around your own space and translate that into your space. Don’t sweat about how you’ll do it yet. Just focus on what would be different to make it work. Later you can figure out the project management bits, like budget and steps in the process.
  2. Start with an item you love that reflects your style. Maybe you absolutely LOVE the multi-colored ceramic frog you bought on a trip to Mexico. Or you bought a blue and white Delftware cookie jar on vacation in The Netherlands, or an ornate Louie the Fourteenth reproduction clock. To design around an object, identify three main colors, as well as the general style of the object. For instance, the Louis the Fourteenth clock has gold and white color, and is an ornate style. Now Google “gold, white, ornate room inspiration.” Then see #1 above.
  3. Start with a store or shop that reflects your style, like Ikea, Crate and Barrel, Target, Pottery Barn, or Bouclair. Go there and ask the workers for advice about how to decorate your home. Take photos. Purchase a few items that can act as the color and style guidelines for your room.

How to Use Your Inspiration

Once you’ve selected a style and color scheme, sit in your space and rethink it. How would you translate your inspiration room to your own space? What is currently in your space that doesn’t reflect the style you want? What could you switch out to better match your style?

For instance, suppose I selected the picture above as my inspiration. That wall color is a perfect mossy green that makes me feel like I’m in a forest. The gray couch is similar to what I already have, but I can substitute different pillows. I like a little more going on in the pillows, so I can pick up the same tone of green, but add more design. I love the gray coffee table and want something like that. I also like the minimalist frames of the photos and can reframe some of my existing photos.

Sometimes you won’t have any existing furniture or décor that fits the style you want, and you’ll need to start from scratch. Sometimes you’ll already have a few things you can keep. And sometimes, you like everything you have and you just need to move it around and add a different paint color or additional décor.

Create a Project Plan

A project plan can be a simple list of things to do and buy. The order of redecorating is fairly linear.

  1. Start with deciding your design and budget. After spending mental time with your inspirations, get practical. Decide which pieces of furniture you’ll keep and what else you’ll want to buy. Add the cost of paint and other supplies. Then create a budget so you’ll know how much you can spend on décor and furniture.
  2. Next, remove your existing furniture.
  3. Then paint. If you need to do any wiring or other construction, do it now.
  4. Next, move stuff back in. Start with the furniture you want to keep. Move it around to different spots before settling on one place. Then add the existing décor you want to keep.
  5. Buy and add the additional new furniture and décor you want (see below).

Buy What Else You Need

Main pieces: Some items carry more weight than others. For instance, lamps and light fixtures can set a tone or style. If you don’t already have lamps that fit the style you want, put them on your buy list. Curtains or window coverings are another highly visible décor item. Finally, end tables or coffee tables or other “main” pieces of furniture can affect the feeling of your space. If you plan to buy second hand furniture, you’ll have a better sense of what to look for.

Décor pieces: Once you have the main items in place, you’ll want to add the fun stuff. If you started with that colorful Mexican pottery frog, now you’ll want to look for other pottery, as well as other Mexican décor items. Or if you started with a blue and white Delft cookie jar, now you’ll want to find more Delft pieces, or use blue frames on your photos with white matting. Your inspiration rooms will give you more ideas about décor items.

A Few Décor “Tricks”

Mirrors: If you lack natural light and can’t add a skylight or window, then consider using mirrors. For instance, we had a living room with just one outside window. The light lit the opposite wall, but didn’t do enough to light the whole room. A floor to ceiling mirror on the window wall and the opposite wall really lit the room!

Height: Don’t be afraid to fill up your wall with a painting or photo wall. Put your curtains up higher above the window. Use very tall lamps. Use layers of height, small, medium, tall.

Groupings: Put a group of photos together with similar or even identical frames. Put a group of décor items together, like several different heights of vases or a group of masks you got on vacation.

Wallpaper: While wallpaper can be overdone, a little can go a long way. If your design idea suits wallpaper, don’t be afraid to use it as an accent.

Wood: If you plan to make wood a dominate feature of your décor, you can often use different styles of furniture as long as the wood is a similar tone. For instance, you might be able to use an ornately carved chair next to a Danish modern coffee table if the woods look similar. Alternatively, you can often use different wood tones if you keep the shapes similar.

Conclusion

You don’t need to decorate all at once! You can start by deciding what one or two things would begin changing things. Maybe your wall color. Maybe a new couch or rug. Maybe a feature wall. Then go from there. For more ideas, Google “Easy Décor Tips.”

Give us a call today; we are happy to lead you in the right direction.

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Home appraisal 101

09 Thursday Jan 2020

Posted by in #HanleyHomeTeam, #HomeBuyingTips, #HomeOwner, #HomeSeller, #housegoals, #househunting, #JacksonvilleFL, #KellerWilliams, #RealEstate, #sellingyourhome

≈ Comments Off on Home appraisal 101

Tags

, , ,

Your Guide to the Home Appraisal

You’ve found your dream home and now it’s time to cross all your T’s and dot all your I’s before it’s all your own. And one of the first items on your closing checklist the home appraisal. So, what exactly is that?

The home appraisal is essentially a value assessment of the home and property. It is conducted by a certified third party and is used to determine whether the home is priced appropriately.

During a home appraisal, the appraiser conducts a complete visual inspection of the interior and exterior of the home. He or she factors in a variety of things, including the home’s floor plan functionality, condition, location, school district, fixtures, lot size, and more. An upward adjustment is generally made if the home has a deck, a view, or a large yard. The appraiser will also compare the home to several similar homes that were sold within the last six months in the area.

The final report must include a street map showing the property and the ones’ compared, photographs of the interior and exterior, an explanation on how the square footage was calculated, market sales data, public land records, and more.

After it is complete, the lender uses the information found to ensure that the property is worth the amount they are investing. This is a safe-guard for the lender as the home acts as collateral for the mortgage. If the buyer defaults on the mortgage and goes into foreclosure, the lender generally sells the home to recover the money borrowed.

Give us a call today; we are happy to lead you in the right direction. Kevin and Jennifer Hanley, REALTORS.

Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Townhouse vs. Condo, which should you buy?

30 Monday Dec 2019

Posted by in #Condoliving, #HanleyHomeTeam, #HomeBuyer, #HomeBuyingTips, #housegoals, #househunting, #Jacksonville, #JacksonvilleFL, #KellerWilliams, #Movingday, #RealEstate, #Townhouse

≈ Leave a comment

Tags

, , , ,

opened window

Photo by Sam Johnson 

Whether it’s your first time buying or you just want to purchase something smaller, townhouses and condos are both great options. Check out the differences between the two to help aid you in your search!

Condominiums

Condominiums are similar to apartments in that you purchase an individual unit inside of a larger building, but not the property it sits on. This generally includes access to the building’s amenities, such as the clubhouse, pool, and gym. However, condo owners are not responsible for the upkeep and repair of these common areas. Because of the number of shared spaces, living in a condo often allows for meeting new people and building a strong sense of community. There is a fairly similar vetting process for loan approval as for a full-sized home; however, the lender will also look at the health of the condo association.

Townhouses

Those who purchase a townhome are generally purchasing the complete unit, both inside and out, including the land it sits on. This might also include the driveway, yard, or roof. Traditionally, these units are two- or three-stories tall and may also include common areas like pools and parks. Townhome owners pay a fee to a homeowners association every month and the loan process is the same as buying a full-sized home.

Which is the best choice?

Both townhomes and condos offer less maintenance than a traditional home and generally offer great shared areas. Your decision ultimately comes down to you and your family’s needs and wants. Things you’ll want to take into consideration include location, lifestyle, family growth, and price.

Give us a call today; we are happy to lead you in the right direction.

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Dispelling Refinancing Myths

07 Thursday Nov 2019

Posted by in #HanleyHomeTeam, #HomeBuyingTips, #HomeOwner, #HomeSeller, #housegoals, #househunting, #Jacksonville, #JacksonvilleFL, #KellerWilliams, #RealEstate, #Refinance, #sellingyourhome, Uncategorized

≈ Comments Off on Dispelling Refinancing Myths

Tags

, , , , , , ,

“Refinancing” is a scary word for many people, but that shouldn’t be the case for you. For many homeowners, refinancing can not only lower your monthly payments and help with your monthly budget, but it can save you thousands of dollars in the long run.

YOU’RE NOT TOO LATE.

For years now, we’ve been hearing that interest rates will be on the rise, and although there have been some small increases, you’re still in a great position to drastically lower your interest rate. The general rule is if your mortgage interest rate is more than one percent above the current market rate, you should consider refinancing.

IT’S NOT TOO TIME CONSUMING.

Don’t brush off refinancing just because it seems like a long and daunting process. An informational call with a lender to see how rates compare will only take a few minutes. There are also some programs for streamlining the application process. And besides, isn’t the amount of money you could save worth the time and effort?

ARMS CAN BE REFINANCED, TOO.

Seeing your Adjustable Rate Mortgage (ARM) increase after the introductory period can be incredibly stressful and place a squeeze on your budget. Many people assume they’re stuck, but ARMs can be refinanced, just like fixed-rate mortgages. You can even switch to a shorter term fixed-rate mortgage, such as 15 or 23 years. The longer you’re planning to stay in the home, the more sense it makes to look into refinancing.

Give us a call today; we are happy to lead you in the right direction.

Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com