A home warranty is a service contract that will help protect homeowners from unexpected repairs on major appliances and systems that break due to normal wear and tear. Coverage is only for systems and appliances in good working condition at the start of the contract.
Basic coverage usually includes:
Plumbing- Includes Water Heater
Electrical Systems
Heating/ Air Systems (HVAC)
And Major appliances such as:
Refrigerator
Washer/ Dryer
Dishwashers
Ovens/Stove/ Cooktop
Microwave
However, buyers should read their contracts carefully to understand limitations and exclusions. In many contracts there are time limitations on certain appliances or aspects of the policy. When signing a home warranty contract, homeowners should carefully consider the following tips:
Research the company that is writing the policy. Many Home Warranty companies have been known to take money from consumers and then not honor their agreements.
Warranty Companies also have the ability to deny a claim. Most of the time they state “homeowner negligence.”
Make sure all the appliances and systems have been inspected before you cover them under the warranty policy.
Many companies will only allow you to use providers that are in their network.
On top of paying on average $300 to $500 for the warranty you are still required to pay a deductible or service fee each time someone comes for a repair.
When shopping for a home warranty, or if purchasing a house that comes with home warranty be prepared and ready to understand the fine print of your policy.
For more information on all aspects of your home when buying or selling, visit www.123SellHouseNow.com.
During the process of listing a house for sale, every owner asks themselves the question of “is there anything I should do to the house?”Usually this is reference to painting, cleaning the yard, or rearranging furniture.Here is a quick guide of things that should be done before you re-list.
1.Landscaping
As talked about in a previous blog, the “curb side appeal” is the most important aspect of preparing your house for sale.If you have dying plants, they should be replaced or removed.Ensure that your yard looks neatly kept and clean.Make sure the lawn in mowed and edged.Put mulch in the beds for a fresh clean look.
2.Doors that Stick
If you have a door that sticks, be sure to get the WD40 and a screw driver out and do anything you can to fix it.Doors that stick can be viewed as a problem to a potential buyer, no matter how easy the remedy.If a door closes on its own, take out one or two hinge pins (one at a time) and put a slight bend in it with a hammer.Reinstall the pin.It will give added friction to the hinge and help keep the door in place.
3.Paint
If you have bright colors, scuff marks, or holes in the walls these things should be taken care of before you show your house for sale.The house should be painted neutral and all scuff marks should be removed.Any holes should be repaired.
4.Lighting
All switch plate covers that are cracked, broken, or missing should be replaced.They are only 40 cents and take a matter of seconds to change.Buyers that see these broken will wonder if there are other things that have been left unattended in the house.You should also make sure all lighting is working properly and the fixtures are cleaned.Ensure that bad light bulbs are all replaced.
5.Laminate Counter Tops
If you have laminate counter tops often times the corners of the laminate will lift.To fix this you simply hold a heat gun about 6 inches from the surface to warm the adhesive; once it feels tacky roll down the edge. In place of a heat gun, many times you can use a house hold iron to warm up the laminate and glue.Make sure not to leave it on too long.
For more information on all aspects of your home when buying or selling, visit www.123SellHouseNow.com.
Most people think of appraisals as home inspections.However, home appraisals are defined as “a survey of the home by a professional for their opinion of the property market value.”
A home appraisal is an important process for homebuyers because it establishes the properties market value, and lets a homebuyer know what similar homes are selling for, and what the cost of repair would be if the home was damaged or lost.Banks make this the final step to get the loan commitment.This is to ensure that the investment is covered in case you default the loan.
With many real estate markets still in a downward trend in value, appraisals are even more important to banks when making loans.
Important information to know about home appraisals includes:
The property being appraised is called the subject property.
Appraisals are not home inspections.They do not come in and test your appliances, look at your roof, check your foundation.
The appraiser should be an objective third party, someone who has no financial or otherwise relationship with the persons involved.
The buyer typically pays for the appraisal.This fee generally ranges anywhere from $300 to $500 dollars.
IF the appraisal is too low the loan cannot proceed until the seller lowers the asking price or the buyer puts down more cash on their down payment.
For more information on all aspects of your home when buying or selling, visit www.123SellHouseNow.com .
No one wants to hear the words “price reduction” when discussing the housing market. However, people are lowering the selling prices to get buyers to even consider purchasing their house.
As a seller, you may be wondering what needs to be done to sell your house quickly, and at a fair price for you and the buyer. Here are some quick tips that you should consider when thinking of lowering your price.
1. Have you posted the house on multiple website? You should have an active online presence, promoting the house and finding new target markets.
2. Send out a direct mail campaign. Are they informed that your house is for sale? When you send out direct mail campaigns to specific neighborhoods you might reach a certain target audience that would otherwise been missed.
3. If you are not motivated, try renting out your house or staying put until the market rebounds. Sometimes you just don’t need to sell that quickly. You should try to hold on to the house until you can get a fair price.
4. Consider the condition of the house. Maybe replacing old carpet or painting over damaged walls would help buyers feel more accepting of the price you are asking for. As talked about in a previous blog, the house should be in complete order and clean for the viewers’ eye. The yard and surroundings should be welcoming so that the buyer does not leave before viewing the inside. “Curb Appeal” is vitally important. Is the house free of any expensive repairs that might need to be taken care of?
5. You should run a Comparable Market Analysis to see how houses similar to yours have sold recently. This will be the real test of if you house is priced to high. A CMA includes information on the selling price and features of nearby homes that have recently sold or whose sales are pending. Remember, it’s not the asking prices that matter; it’s what the houses are selling for that is important.
For more information on lowering selling prices, visit www.123SellHouseNow.com.
The news and other sources of media are constantly talking about foreclosure rates and increases.However, do you know exactly what foreclosure is?Here are some quick and easy information explaining more on what foreclosure is, and how it progresses to one losing their home.
Foreclosure is defined as the proceeding in which a lien holder has the right, based on the “power of sale clause”, to sell the property to pay the home loan balance.It occurs when a homeowner is unable to make principal and/or interest payments on their home.
In the state of Georgia after an average of 90 to 120 days, the lender orders a trustee to record a Notice of Default, or a statement saying that the homeowner is delinquent in payments.However, some states can be upwards of a year.If the default is not corrected, a sale date is arranged, the homeowner is notified of the sale and the house is put up for auction.
After 60 days of non-payment the property can be listed in the legal papers for four consecutive weeks, then the house is foreclosed on.In as little as 90 days a property can be taken back by the bank.
Being primarily a non-judicial state (does not have to go in front of a judge), Georgia has one of the quickest time frames to foreclosure.Also, Georgia does all of their foreclosures on the first Tuesday of each month for the entire state.This is often referred to as “Super Tuesday.”
According to CoreLogic, the Atlanta Metro Area’s foreclosure rates increased by 1.14 percent since March of 2009, and their 90 day plus delinquency rates have increased by 4.63 percent.
House Underwater, negative equity, and upside down house all translates to the same meaning; a homeowner now owes more on their mortgage than their house is worth. In the state of Georgia 23 percent of all mortgages are listed as “underwater.”
With prices of houses notably lower than they were at the peak of the market, homeowners are struggling to make payments and/or sell their house. This often leads to foreclosure. According to a study of 10 major metro areas by First American CoreLogic for USA TODAY, a typical borrower who is “underwater” will not see positive gains in equity until 2015 to 2020.
To think about what “house underwater” means in literal terms, view the following chart:
You want to sell quickly, but what do you do to make your house more appealing to others viewing it?Here are five quick tips to get your house ready to sell quickly and without worry.
1.Curb appeal
“Curb Appeal” is the first impression a buyer has and is essential to selling a house.If the potential buyer won’t get out of the car because they don’t like the outside of the house, it won’t matter how nice the inside of the house is.Do not allow a buyer to drive off before they even view the inside of the house.Ensure that the outside of the house is in the best condition possible.Cut the grass, trim the bushes, rake the leaves, wash the outside of the house, and if needed touch up the exterior paint.If something needs to be repaired, fix it to the best of your ability.
2.Remove All Personal Items
Buyers want to picture their own photographs and belongings in the house.This means you have to remove all of your own pictures, cards, or personalized items.Pack these items and put them in storage.This is also a good time to remove all cluttered furniture from the house.You want the house to look open and spacious, which having less furniture will do.There should only be the needed furniture pieces in the house.
3.Make the House Sparkle
Making the house sparkle is a standard worth mentioning again.The minute you list, the house should be kept clean at all times.There should not be any clutter.Prepare your closets, cupboards and vanities for inspection.Don’t forget the attic, basement, garage, and sheds if you have any of these.Home buyers will look in these to visualize space and how they will use it.Closets should be neatly organized.You do not want them to open the door and items to fall out.In your cabinets, coffee mugs should be turned the same way and spices should be organized and lined the same direction. Prepare for buyers to dig through every nook and cranny.
4.Neutralizing the House
The house colors should be neutral so that the buyers can envision it as their home.Walls should be painted neutral whites or off-whites.However, you do not need to make major remodeling changes.
5.Be Creative
Remember to entice buyers with the natural smell of homes.Bake cookies when you know that you will be showing the house, or place warm water and a package of yeast in a warm oven.This will create an ambience that is welcoming to those that are viewing the house.It will leave the impression of a warm home to a buyer that might have visited 10 other houses that day.
A home warranty is a service contract that will help protect homeowners from unexpected repairs on major appliances and systems that break due to normal wear and tear. Coverage is only for systems and appliances in good working condition at the start of the contract. 
