Let's Talk Real Estate

It’s a confusing time, but lenders are putting remedies, like forbearance, in place to help homeowners. Mortgage lenders, and the federal agencies that regulate lenders, are putting coronavirus mortgage relief measures in place to ensure homeowners have options if they’re unable to make payments. Your first stop in the face of financial hardship is your lender or bank. Just keep in mind lenders are working to figure out and implement the new mortgage relief polices outlined by the regulatory agencies. So you might read one thing from the FHFA, a federal regulator, but your bank might be doing something else. In addition, due to the number of homeowners affected by the pandemic, lenders are dealing with a crush of calls and online queries. Be patient, persistent, and prepared to spend time on hold.   Here are the resources you need: Your Mortgage Federally Backed Mortgages If you have a mortgage backed by Federal Housing Administration (FHA), Veteran’s Admi

Technology and good-old-fashioned creativity are helping agents, buyers, and sellers abide by COVID-19 health and safety practices while getting deals done. Some buyers are touring houses virtually. Others visit in person while remaining at least six feet from their agent. Sellers are hosting open houses on Facebook Live. Appraisers are doing drive-by valuations. Buyers are watching inspections via video call. Masked and gloved notaries are getting signatures on doorsteps. We have had to make some adjustments,  to minimize face-to-face interactions. There have been some delays, but for the most part, deals are getting done. Here’s what home buying and selling during the pandemic looks like: Showings  Go Virtual The rules around in-person showings vary by city, county, and state. Some allow them and some ban them. Check with your state, county, and local government to get the latest on business closures and shut-down rules. Agents have conducted home tours via FaceTime a

Gain storage space and usable square footage by installing pocket doors.   Pocket doors maximize under-utilized areas around doorways and transform them into smart storage spots.  The swing of a standard interior hinged door eats up as much as 10 square feet of floor space. That’s not to mention the unusable wall space the door occupies when open. By gliding on a track that disappears into the wall, pocket doors reclaim that space and increase the usable square footage of your home. Is the additional space worth it? It’s not exactly an open and shut case. For starters, unless you’re dealing with new construction, you’ll need to demolish a wall. Here’s what else you need to know before giving the sledgehammer a heave-ho. Benefits of Pocket Doors Space. With more available wall space, you have room for furnishings or freestanding storage. However, avoid penetrating the pocket-door wall to hang shelves or artwork—nails or drywall anchors might damage the door or prevent it fr

In addition to saving for a down payment, you’ll need to budget for the money required to close your mortgage. Closing costs generally run between 2% and 5% of your loan amount. You can shop around and compare prices for certain closing expenses, such as homeowners insurance, home inspections and title searches. You can also defray costs by asking the seller to pay for a portion of your closing costs when you make an offer. Calculate your expected closing costs to help you set your budget.

Not all exterior doors are equal. Here are the pros, cons, and costs of different types.   Good looks and value -- what's not to love? Not only does replacing your front entry door kick up your curb appeal, it's a solid investment with a decent payback. According to the "Remodeling Impact Report" from the National Association of REALTORS®, a new steel entry door has a national median cost of $2,000, and you'll recover 75% of that investment if you decide to sell your house. But how do you know which door is right for you? Make your decision by comparing the three main materials available for exterior doors: steel, fiberglass, and wood. Steel Entry Door If you’re looking to save money, a steel door is a great choice, especially if you have the skills to hang it yourself. A simple, unadorned steel door can sell for as little as $150 (not including hardware, lock set, paint, or labor) and typically runs as much as $400 at big-box retailers.  Steel offer

There are many first-time home buyer programs available and government loan programs that enable buyers to get into their new home with 3.5% or less down.   Be sure to talk a mortgage broker or take a First Time Homebuyer class to educate yourself.  You may be able to get into a home and start building equity sooner than you think.

The Energy Star label is good, but the NFRC label tells you even more. With the high cost of replacement windows and doors, it's wise to know exactly what you're getting for your money.    Here's what all those scientific terms and numbers about energy savings mean:   The 2 Most Important Window and Door Labels The two labels you should look for: The white National Fenestration Rating Council label. Nonprofit NFRC is the industry-recognized certifying body for windows and doors.  The Energy Star label, which means the appliance has met strict energy efficiency criteria set by the U.S. government, in addition to the NFRC ratings. What the NFRC Label Terms Mean The NFRC label typically lists five measurements. The other three are somewhat less important to energy performance, according to Energy Star, but can help you judge how well a window or door will perform in a particular application — for example, whether it'll let in enough light. 1. U-Fac