A good school district is a key factor in home buying if you have kids. It can also be a positive selling point when it comes time to sell your home.
School Districts
When considering the quality of school districts, keep in mind that everyone is looking for “good ones.” The question, of course, is what does “good” exactly mean? To a buyer with children, it means the best education on the planet. To your real estate agent, however, it may mean something much less.
You must look to facts, not opinions, when evaluating potential school districts as part of your home buying process. Asking for opinions is like a girlfriend asking a boyfriend if she looks good in a particular dress. Do you really think the answer is going to be anything other than positive?
The quality of a school district is found in the hard, cold facts. Issues you should consider include topics such as:
1. What is the student to teacher ratio?
2. What teaching style does the district use?
3. How much experience do the teachers have?
4. What is the turnover rate for teachers?
5. What is the drop out rate?
6. What percentages of graduates go to college?
7. Is there any history of violence on the schools?
8. Are there any reports of gangs?
9. What extra curricular activities are offered such as sports, music, etc.?
10. What are the average SAT scores for students?
While this list of question will help you determine if a school district is “good,” it isn’t an end all. Consideration must be given to your personal views on the education of your children. Develop questions based on your opinions and make sure to get them answered.
If you have children, evaluating potential school districts is a key factor in purchasing home. Make sure you get the facts, not the opinions of interested people such as the seller or a real estate agent.
About the Author
Raynor James is with http://www.fsboamerica.org- an online site providing national exposure for sellers listing properties and a database of properties for buyers.
Thursday, April 19, 2007
Tips for Buying a New Home
Learn from others' mistakes and save money on your new home
Buying a new home can be a daunting task, even for someone who has owned several homes. If you recently purchased your first home, you probably found that is hard to find good advice that is truly useful. You had to learn a lot on our own, but at least now you probably feel comfortable and knowledgeable about the whole process.
My wife and I recently purchased a new home in Tennessee. Here are some helpful hints we picked up along the way:
1. Use all of the online resources available. Almost every state and local government has a website where you can research real estate information. The data on home sales, taxes, and neighborhoods is invaluable when you are shopping for a home. We were able to find out the most recent sale prices in the neighborhood we selected, and we didn't have to rely on a real estate agent to get the data for us. Doing the research yourself will make you more knowledgeable about the market, which is key to making a good purchase.
2. Be realistic about how much you can spend. Try to buy a home in a price range that allows you to put down 20%. If you put down less than this, you will have to pay PMI (private mortgage insurance) to protect the lender in case you default on the loan. I know that 20% is a lot, but it's not unrealistic. You may not be able to do it on your first home, but hopefully you can on your second home. The profits from the sale of my condo enabled my husband and me to have more than enough for the 20% down payment on our home. But we didn't put it all down on the home - we saved some of the profits for the unexpected expenses that come with buying a home. We suggest that you do the same.
3. Shop for a home in the winter, preferably around the holidays. Since most people just aren't interested in buying a home when they are trying to deal with the holidays, you can pretty much be one of the few buyers out there. We bought our home right before Christmas, and it was definitely a buyers market. We had our pick of homes and were able to underbid on the asking price, even though we live in one of the hottest real estate markets in the country.
4. Use a smaller mortgage company that can offer personal service. People tend to go with large, well-known mortgage companies, since that's all they know. But the smaller, regional companies provide excellent customer service, and can often give you better rates than the big companies. Since they don't advertise and instead rely on word-of-mouth, they have to be good in order to get your service. We started off with a big-name company, but in the end, we went with a regional company because they had better rates and better customer service.
5. Always have a home inspection. I think most people know this fact already, but it is really important in areas with a hot real estate market. It can be easy to get caught up in bidding wars, and to want to get a house at all costs. Some friends of ours wanted a house so badly that not only did they overbid, but they also waived the home inspection. They got the house - and right along with it they got several thousand dollars worth of damage that would have been found in an inspection. As a final note, try to remember that buying a home doesn't have to be scary. It's very exciting to own your own home, so think of all the good things that will come once you have made it through the home-buying process. If you follow the advice above, then you should be well-equipped to make it through unscathed.
6. Save money and shop for your home insurance the easy way! Yeah, I know this is a shameless plug for our web site, but seriously, whatever web site you do use, get online and shop around for your home insurance. You can get multiple home insurance quotes from HometownQuotes.Com or any of a dozen or so reputable companies online. Go to a search engine, like Yahoo! and type in 'home insurance quotes.' This is the best way because if you get 5-10 good quotes you can decide for yourself who is the best.
About the Author
Matt McWilliams is one of the co-founders of HometownQuotes.Com, an online insurance quotes web site. He is originally from Pinebluff, NC and graduated from Middle Tennessee State University in 2002. He is considered an expert in the field of online insurance shopping and finding new ways to help consumers save money on their insurance. For more information visit http://www.hometownquotes.com.
Buying a new home can be a daunting task, even for someone who has owned several homes. If you recently purchased your first home, you probably found that is hard to find good advice that is truly useful. You had to learn a lot on our own, but at least now you probably feel comfortable and knowledgeable about the whole process.
My wife and I recently purchased a new home in Tennessee. Here are some helpful hints we picked up along the way:
1. Use all of the online resources available. Almost every state and local government has a website where you can research real estate information. The data on home sales, taxes, and neighborhoods is invaluable when you are shopping for a home. We were able to find out the most recent sale prices in the neighborhood we selected, and we didn't have to rely on a real estate agent to get the data for us. Doing the research yourself will make you more knowledgeable about the market, which is key to making a good purchase.
2. Be realistic about how much you can spend. Try to buy a home in a price range that allows you to put down 20%. If you put down less than this, you will have to pay PMI (private mortgage insurance) to protect the lender in case you default on the loan. I know that 20% is a lot, but it's not unrealistic. You may not be able to do it on your first home, but hopefully you can on your second home. The profits from the sale of my condo enabled my husband and me to have more than enough for the 20% down payment on our home. But we didn't put it all down on the home - we saved some of the profits for the unexpected expenses that come with buying a home. We suggest that you do the same.
3. Shop for a home in the winter, preferably around the holidays. Since most people just aren't interested in buying a home when they are trying to deal with the holidays, you can pretty much be one of the few buyers out there. We bought our home right before Christmas, and it was definitely a buyers market. We had our pick of homes and were able to underbid on the asking price, even though we live in one of the hottest real estate markets in the country.
4. Use a smaller mortgage company that can offer personal service. People tend to go with large, well-known mortgage companies, since that's all they know. But the smaller, regional companies provide excellent customer service, and can often give you better rates than the big companies. Since they don't advertise and instead rely on word-of-mouth, they have to be good in order to get your service. We started off with a big-name company, but in the end, we went with a regional company because they had better rates and better customer service.
5. Always have a home inspection. I think most people know this fact already, but it is really important in areas with a hot real estate market. It can be easy to get caught up in bidding wars, and to want to get a house at all costs. Some friends of ours wanted a house so badly that not only did they overbid, but they also waived the home inspection. They got the house - and right along with it they got several thousand dollars worth of damage that would have been found in an inspection. As a final note, try to remember that buying a home doesn't have to be scary. It's very exciting to own your own home, so think of all the good things that will come once you have made it through the home-buying process. If you follow the advice above, then you should be well-equipped to make it through unscathed.
6. Save money and shop for your home insurance the easy way! Yeah, I know this is a shameless plug for our web site, but seriously, whatever web site you do use, get online and shop around for your home insurance. You can get multiple home insurance quotes from HometownQuotes.Com or any of a dozen or so reputable companies online. Go to a search engine, like Yahoo! and type in 'home insurance quotes.' This is the best way because if you get 5-10 good quotes you can decide for yourself who is the best.
About the Author
Matt McWilliams is one of the co-founders of HometownQuotes.Com, an online insurance quotes web site. He is originally from Pinebluff, NC and graduated from Middle Tennessee State University in 2002. He is considered an expert in the field of online insurance shopping and finding new ways to help consumers save money on their insurance. For more information visit http://www.hometownquotes.com.
Buying The Perfect Diamond Ring While Saving $1000's
Buying a diamond engagement ring can be a risky business! For most of us an engagement ring is the third most expensive purchase we are likely to make, after our home and car. However I can guarantee you know much more about buying a home, or a car than you do about buying a diamond ring! This lack of knowledge opens up the opportunity for dishonest people to take advantage of you.
This generally takes the form of selling you a poor quality diamond ring for a higly inflated price.
How can you avoid the pitfalls?
There are some basic precautions you can take, which will significantly reduce the risk. Some of these include:
Get Educated - Research the subject of buying diamonds, in exactly the same way you would if you were buying a car. There is no substituted for this, and if you are willing to make the effort you can have more knowledge of the subject in 2 hours, than 95% of your fellow consumers.
Buy from a reputable source - Whether you decide to make your purchase online or at a Jewelry store, make sure you have some background on the store. Visit the store and ask the salesman questions to gauge his level of knowledge. I would suggest you avoid the Jewelry districts, simply because the competition is so fierce that it breeds questionable practices and half truths amongst the occupants.
Never buy a diamond without a certificate - Without a certificate you could quite easily buy a piece of glass set into an engagement ring setting and be non the wiser, but up to $5000 poorer. However a certificate alone does not guarantee a better deal, you need to be proficient in understanding exactly what it is telling you, and how each factor that is covered affects the price and quality of the ring.
Understand the 4 C's of diamonds - Most people know something about the 4 C's of diamond buying including, Cut, Clarity, Carat and Color. However very few people know how to each of the 4 factors interact to determine the price and quality of a diamond.
If you follow this advice you significantly reduce your chance of being fleeced by a dishonest salesman. Treat your purchase as a significant financial purchase. Set your budget up-front and do not go too much above or below the price you've set yourself. Try not to get to emotionally involved in the purchase and the outcome should be favorable.
About the Author
Peter Vine is a researcher for a large consumer magazine, and has spent the last
year looking at the diamond industry. The ebook 'Diamond
Ring Secrets' is the outcome of this research, and shows you the insider secrets
of buying a diamond ring while saving $1000s. Take a look at it at: http://www.diamond-ring-secrets.com
This generally takes the form of selling you a poor quality diamond ring for a higly inflated price.
How can you avoid the pitfalls?
There are some basic precautions you can take, which will significantly reduce the risk. Some of these include:
Get Educated - Research the subject of buying diamonds, in exactly the same way you would if you were buying a car. There is no substituted for this, and if you are willing to make the effort you can have more knowledge of the subject in 2 hours, than 95% of your fellow consumers.
Buy from a reputable source - Whether you decide to make your purchase online or at a Jewelry store, make sure you have some background on the store. Visit the store and ask the salesman questions to gauge his level of knowledge. I would suggest you avoid the Jewelry districts, simply because the competition is so fierce that it breeds questionable practices and half truths amongst the occupants.
Never buy a diamond without a certificate - Without a certificate you could quite easily buy a piece of glass set into an engagement ring setting and be non the wiser, but up to $5000 poorer. However a certificate alone does not guarantee a better deal, you need to be proficient in understanding exactly what it is telling you, and how each factor that is covered affects the price and quality of the ring.
Understand the 4 C's of diamonds - Most people know something about the 4 C's of diamond buying including, Cut, Clarity, Carat and Color. However very few people know how to each of the 4 factors interact to determine the price and quality of a diamond.
If you follow this advice you significantly reduce your chance of being fleeced by a dishonest salesman. Treat your purchase as a significant financial purchase. Set your budget up-front and do not go too much above or below the price you've set yourself. Try not to get to emotionally involved in the purchase and the outcome should be favorable.
About the Author
Peter Vine is a researcher for a large consumer magazine, and has spent the last
year looking at the diamond industry. The ebook 'Diamond
Ring Secrets' is the outcome of this research, and shows you the insider secrets
of buying a diamond ring while saving $1000s. Take a look at it at: http://www.diamond-ring-secrets.com
Why Buy Pre Foreclosures?
Have you ever heard of the term pre foreclosure? Do you think that this means the same thing as a foreclosed property? If you answered yes to these questions you are not alone. But at the same time, if you answered yes you are not familiar with the advantages of buying pre foreclosures.
Pre foreclosures are properties that are in the final stage before they are taken back by the bank or lender. This means that the owner is still in charge of the property, but if they do not make any attempt to rectify their situation the bank or financier will repossess the home.
There are many benefits in buying pre foreclosures. The reason that most people miss out on these homes is because they do not know what they are, or how to find them.
The number one advantage of pre foreclosures is the lower price associated with such properties. The owner has to sell the house before the bank or lender takes it and is more inclined to listen to any offers that they receive. It is quite possible to find pre foreclosures that are up to 50% off of the market value.
In addition to the bargain that you can get on pre foreclosures, you will also be able to deal directly with the owner. This is an advantage because the buyer is in control during a pre foreclosure deal. If the home owner turns down your offer and fails to find another buyer, they will end up losing everything. If they manage to sell the home they can at least end up making back some money.
Finding pre foreclosures can be done in the same way as locating homes that that bank already owns. You can find them in the newspaper, online, or by calling the lender directly on the phone. It is really up to you, and you can base it on what seems to be most effective.
Compared to foreclosed properties, you would normally face less competition with pre forecloses. This increases the chance of getting a great price and ending up with the home of your choice.
If you are looking for a new home, don’t forget to check out these properties. Buying pre foreclosures can be very profitable.
About the AuthorHave you ever heard of the term pre foreclosure? Do you think that this means the same thing as a foreclosed property? If you answered yes to these questions you are not alone. But at the same time, if you answered yes you are not familiar with the advantages of buying pre foreclosures.
Pre foreclosures are properties that are in the final stage before they are taken back by the bank or lender. This means that the owner is still in charge of the property, but if they do not make any attempt to rectify their situation the bank or financier will repossess the home.
There are many benefits in buying pre foreclosures. The reason that most people miss out on these homes is because they do not know what they are, or how to find them.
The number one advantage of pre foreclosures is the lower price associated with such properties. The owner has to sell the house before the bank or lender takes it and is more inclined to listen to any offers that they receive. It is quite possible to find pre foreclosures that are up to 50% off of the market value.
In addition to the bargain that you can get on pre foreclosures, you will also be able to deal directly with the owner. This is an advantage because the buyer is in control during a pre foreclosure deal. If the home owner turns down your offer and fails to find another buyer, they will end up losing everything. If they manage to sell the home they can at least end up making back some money.
Finding pre foreclosures can be done in the same way as locating homes that that bank already owns. You can find them in the newspaper, online, or by calling the lender directly on the phone. It is really up to you, and you can base it on what seems to be most effective.
Compared to foreclosed properties, you would normally face less competition with pre forecloses. This increases the chance of getting a great price and ending up with the home of your choice.
If you are looking for a new home, don’t forget to check out these properties. Buying pre foreclosures can be very profitable.
About the Author
Ken Fong
www.therealestatescoop.com
Terra Bites of Real Estate Information
Pre foreclosures are properties that are in the final stage before they are taken back by the bank or lender. This means that the owner is still in charge of the property, but if they do not make any attempt to rectify their situation the bank or financier will repossess the home.
There are many benefits in buying pre foreclosures. The reason that most people miss out on these homes is because they do not know what they are, or how to find them.
The number one advantage of pre foreclosures is the lower price associated with such properties. The owner has to sell the house before the bank or lender takes it and is more inclined to listen to any offers that they receive. It is quite possible to find pre foreclosures that are up to 50% off of the market value.
In addition to the bargain that you can get on pre foreclosures, you will also be able to deal directly with the owner. This is an advantage because the buyer is in control during a pre foreclosure deal. If the home owner turns down your offer and fails to find another buyer, they will end up losing everything. If they manage to sell the home they can at least end up making back some money.
Finding pre foreclosures can be done in the same way as locating homes that that bank already owns. You can find them in the newspaper, online, or by calling the lender directly on the phone. It is really up to you, and you can base it on what seems to be most effective.
Compared to foreclosed properties, you would normally face less competition with pre forecloses. This increases the chance of getting a great price and ending up with the home of your choice.
If you are looking for a new home, don’t forget to check out these properties. Buying pre foreclosures can be very profitable.
About the AuthorHave you ever heard of the term pre foreclosure? Do you think that this means the same thing as a foreclosed property? If you answered yes to these questions you are not alone. But at the same time, if you answered yes you are not familiar with the advantages of buying pre foreclosures.
Pre foreclosures are properties that are in the final stage before they are taken back by the bank or lender. This means that the owner is still in charge of the property, but if they do not make any attempt to rectify their situation the bank or financier will repossess the home.
There are many benefits in buying pre foreclosures. The reason that most people miss out on these homes is because they do not know what they are, or how to find them.
The number one advantage of pre foreclosures is the lower price associated with such properties. The owner has to sell the house before the bank or lender takes it and is more inclined to listen to any offers that they receive. It is quite possible to find pre foreclosures that are up to 50% off of the market value.
In addition to the bargain that you can get on pre foreclosures, you will also be able to deal directly with the owner. This is an advantage because the buyer is in control during a pre foreclosure deal. If the home owner turns down your offer and fails to find another buyer, they will end up losing everything. If they manage to sell the home they can at least end up making back some money.
Finding pre foreclosures can be done in the same way as locating homes that that bank already owns. You can find them in the newspaper, online, or by calling the lender directly on the phone. It is really up to you, and you can base it on what seems to be most effective.
Compared to foreclosed properties, you would normally face less competition with pre forecloses. This increases the chance of getting a great price and ending up with the home of your choice.
If you are looking for a new home, don’t forget to check out these properties. Buying pre foreclosures can be very profitable.
About the Author
Ken Fong
www.therealestatescoop.com
Terra Bites of Real Estate Information
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