Andre's Blog

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A Housing History Lesson

There's been a lot of talk recently about the condition of the housing market. With our economy struggling and the mortgage industry adjusting, it's only normal that home sales and purchases may have slowed.

With home values down about 25 percent from their 2006 peaks, home sellers may be discouraged, but experts agree that there is light at the end of the tunnel. Homebuying incentives, mortgage reform and tax credits are making it an ideal time to purchase a home.

At its height, the good health of the housing market promoted overinvesting, quick flipping, overbuilding and credit overextension.

These indulgences led to the bubble bursting. There are important lessons, however, that can be learned by looking back at the housing bust. Here are some rules that can help us avoid repeating the same mistakes:

    Save for a down payment. Although you may still be able to qualify for a no-money down mortgage, having 15 to 20 percent can increase your home equity, lower your payments and help you obtain better interest rates.

    Set a realistic budget. Just because you are approved for a higher amount doesn't necessarily mean you can afford it. Borrow within your means. A safe formula is to purchase a home that is no more than three times your family's annual income.

    Work with a knowledgeable professional. An experienced real estate professional, like me, can help you find a home that meets your needs and your means. I understand our market and would be happy to help you.

 -Viva Miami

When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless!  Andre'Shambley & Miami's Best REALTOR® Team, 786-704-VIVA (8482). MiamiBestTeam@AOL.com. www.OnePlaceOpenHouse.com

 

Ready to refinance looking for a better rate?  For your complimentary rate quote visit Jacinta Shambley, APEX Lending, Inc. JShambley@ApexLending.com.  www.JShambley.ApexLending.com      

0 commentsAndre Shambley • July 29 2009 09:06AM

The Word on the Street: Curb Appeal Sells Homes

Have you ever judged a book by its cover? Or, have you, in a frenzied state at the movie store, with no time to kill, grabbed what turned out to be a very bad movie because the cover was, well, pretty. Although many of us might like to think we are above such biased judgment calls, in all likelihood, most all of us have judged something according to what has been presented on the outside. This phenomenon, holds true for prospective buyers looking at houses, as well. A large percentage of home buyers will decide whether or not they want to view a home, based on its curb appeal- the outside attractiveness that can hook a buyers attention.


Consider that with the advent and now prolific use of the internet everywhere and within the world of real estate, buyers are presented with a wide scope of choice and information. The information that they put the bulk of their faith in, statistically, are photos. So, as well as having good quality photos of your house, consider the importance of curb appeal as one of the first elements that will peak interest in your property. Secondly, consider that if interest is not peaked a first time, there is little, to no chance, that the buyer in question will choose to view your property at all. Like a shopper bombarded with a million product choices in the super market, something with an appealing package may catch their eye, over the product that has superior quality. We do make judgments based on packaging, especially under stress.


So, after that little diatribe, you are hopefully convinced of the value of curb appeal when selling your home. Now, we can get into the nitty gritty details on how you can create an appealing curb. There are some questions to ask yourself. Better yet, ask yourself, and then ask a friend to give you their opinion. Of course, don't let their answer disturb your friendship-an honest response may help you sell and perhaps fetch top dollar for your property.


1. What is the first impression of your house and yard?


2. Look at specific features and make a list of the good ones.


3. Look again, and make a list of the worst exterior features.


Enhancing curb appeal, without a major overhaul is based on the enhancement of the good stuff and the minimization or improvement of what is not-so-good.


Begin first with what is challenging- in this case those features that are not so attractive. But, before jumping into elements that may involve some project work, start first with anything that needs a good-old-fashioned clean up. Perhaps some of those negative features, just need a coat of paint or a pressure wash. Here are some ideas.


- Clean gutters and windows.


- Kill mold and mildew on the roof, house, sidewalks and driveway.


- Paint the exterior of your house an attractive color. Consult your surrounding neighborhood to see what works.


- Pressure wash dirty siding and dingy decks.


- Edge sidewalks.


- Remove vegetation growing between concrete or bricks.


- Trim trees or plant limbs that are touching or near your home. Greenery should showcase your home, not hide it.


- Attend to all sides of your house, including the rear. Buyers do look everywhere!


Once you have generally cleaned up, look again and consider some landscaping decisions. As with interior home staging, the attractiveness of an un-cluttered interior holds true for the exterior of a home as well. Begin first with removing what landscaping elements seem to be cluttering others that needs to shine. Most buyers, have a hard time visualizing changes. But take note that buyers who can visualize necessary changes may well come to you with an undesirably low offer.Your own foresight and curb appeal work will attract buyers, and fend off low offers.


Here are some tips to consider for appealing landscaping:


- Shrubs generally work best when they anchor the corners of a house.


- A tree should function for protection or as an accent. Trees are most appealing when they to not disturb the line of sight.


- Frame the greeting area or front door with flowering plants and low shrubs.


- Stone and rock and can be used cosmetically to add a look of durability to your home.


In creating curb appeal, always consider the importance of the entranceway. Visual attractiveness is based on creating a focal point, and that point is usually the entranceway of a house. Door color should match the accent color of your home. A door that is colorful can be friendly and inviting, but make sure it is not shockingly bright. A second focal point is good, when it serves to lead the eye along a path to the entranceway. A garden bench or arbor are good secondary focal points.


What we have outlined in this article are smaller, more manageable projects you can do yourself to enhance the curb appeal of your home. If it seems like your home requires more than you can manage yourself, hire a professional who can write up a detailed. plan. Either way, do not neglect the power of packaging as you prepare your house for a competitive market.


When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless! Miami's Best REALTOR® Team, The Keyes Company, 305-396-9106. MiamiBestTeam@AOL.com. www.OnePlaceOpenHouse.com

0 commentsAndre Shambley • July 02 2009 08:43PM

Five Important Tips To Consider When Buying Real Estate

In the present-day real estate market, becoming knowledgeable buyer you can get more bang for your buck, not just in price but gaining an asset that will appreciate overtime.

Following are five important things that you should know and perform prior to buying your first or second home:

Understand How the Purchase Would Impact On Your Family Budget and Taxes

There are various tax benefits for homeowners, for instance deduction of loan points and mortgage interest on certain occasions. Confirm with your accountant or tax consultant to ensure that you know them. You must understand the outcomes on your budget and taxes prior to buying the home. The tax regulations get amended regularly, hence you should receive up-to-date details. Try to find out how your new mortgage payment would affect your family budget. It might be essential for you to change your spending habits for the purpose of adjusting.

Understand What Influences the Value of Homes

Real estate is an important investment. Localities vary and circumstances vary. People shift more often now than what they used to previously. One of the most significant factors that influences a home's value is location. Other elements that you should take into account are the maintenance of the locality, size of the home, proximity of schools, parks and convenience stores to the home, future investment prospects, history of natural calamities and others.

Perform a Professional Home Inspection

In certain cases, it is known as "Whole House Inspection". It might be mentioned in your offer that the offer price is dependent on the productive outcomes of the home inspection. If a fault is identified by the inspector, the seller has to repair it or you can carry out negotiations for a reduction/adjustment in price. In case the seller is not willing to do it, you don't need to go forward with the deal. You can also buy a home warranty. Your real estate agent can help you out.

Understand Your Choices for Financing

A full service Realtor can provide a one stop shopping experience or recommend the names of mortgage loan professionals and lenders in your locality. They can help you ascertain how much mortgage you can afford. This helps you save time. There are various loan programs. You should talk about your requirements and goals with your Realtor or a mortgage professional. Analyze the loans and rates available in your neighborhood and on the basis of your current debt and income, find out the amount of mortgage you can afford. Things you should take into account are the following:

* Government-sponsored loan programs
* First time buyers programs
* Locking in the rate of interest
* Down payment options
* Direct payment options
* Length of escrow


Know What a Buyer's Agent Does

The buyer's agent is your representative and works for your best interest. When you know the means through which a buyer's agent can assist you, a dependable buyer's agent can work as an outstanding resource in your home buying process. He would furnish you with a Buyers Representation Agreement that distinctly delineates what he would do and how he would represent you. Usually, they would not ask for any payment from you since they are remunerated from the seller's commission. Consult your Realtor if needed.

You shouldn't go for buying a home without knowing the truth. It can cost you a hefty amount.

When it comes to choosing professionals to assist you with your real estate needs...Experience is Priceless! Miami's Best REALTOR® Team, The Keyes Company, 305-396-9106. MiamiBestTeam@AOL.com. www.OnePlaceOpenHouse.com

1 commentAndre Shambley • July 01 2009 09:34PM