There was a time when a homebuyer was only concerned about what the mortgage costs would be for the dream house they were so intently looking to buy. They worried about qualifying with the lender. They worried about the interest rate. They wondered if they really could afford their new home ........ in most cases everything worked out just fine. Then came Katrina.
In the "pre-Katrina days" the cost of insurance (homeowners) was almost an after thought to the many processes leading up to buying a home. After all, every one was able to purchase insurance, it was generally quite affordable and was available from any number of resources. Those days are gone. Fact of the matter is that homeowner's insurance has now been pushed to the front end of buyer's due dilligence right along with mortage payments in deciding whether the home is affordable. It has gotten to a point where buyer's agents are making sure that real estate purchase agreements contain some sort of language to protect their buyers and give them a "way out" if insurance costs are found to be "sky high" after due dilligence.
Location, location, location has begun to take on a whole new meaning, especially, when it comes to homeowner's insurance. Where the home is located, now more than ever, has an impact on what a homeowner can expect to pay. One would expect a lakefront homeowner pay a premium for coverage but big difference in rates depending on whether the home is North or South of I-12?....really, is what it has come down to now-a-days? Ironically while I was working on this new posting I received an email from an insurance provider proudly announcing that his agency could now write policies North of Highway 22 but "no Lacombe and Slidell" for the time being! Most buyer's representatives are including wording in purchase agreements to give their clients an "opt out" if affordable insurance coverage can't be found. Be cautious!
My advice is to treat homeowner's insurance availabily and cost with the same intensity as searching for the best interest rate or best mortgage company. If you would like more information please give me a call or visit my website at http://www.alan-realtor.com for the latest and greatest real estate info on the Northshore. As always I welcome your comments and appreciate your time. SeeYou..........
Friday, October 20, 2006
Thursday, October 19, 2006
Should I Buy Now or Wait---Maybe Prices Will Drop?
The correct answer is buy when the timing is right for you instead of trying to time the market. Here's why. Money is cheap today. Do you feel interest rates are going to go up?
David Lereah, NAR´s chief economist, said mortgage interest rates are trending up but will remain favorable. He expects the 30-year fixed-rate mortgage to rise to 6.9 percent by the end of the year. - RISMEDIA.com, April 12, 2006.
I also believe the answer is yes, so don't make a decision about buying your home simply based on the price of the home. Look at several things including interest rates, tax benefits of owning your home and your abilities to make the payments. Look at the big picture.
Here is an example using basic figures without looking at the complications or benefits of taxes.
David Lereah, NAR´s chief economist, said mortgage interest rates are trending up but will remain favorable. He expects the 30-year fixed-rate mortgage to rise to 6.9 percent by the end of the year. - RISMEDIA.com, April 12, 2006.
I also believe the answer is yes, so don't make a decision about buying your home simply based on the price of the home. Look at several things including interest rates, tax benefits of owning your home and your abilities to make the payments. Look at the big picture.
Here is an example using basic figures without looking at the complications or benefits of taxes.
You buy a home and have a loan balance of $400,000 at 6%. Your monthly payment is about $2398. You wait a few months or a year or two for home prices to decline 5% making the sales price become $380,000 and you pay 7% interest. Your monthly payment is about $2528. You're already behind on your monthly payment by $200. You wait for home prices to decline 10% making the sales price become $360,000 and you pay 7%. Your monthly payment is about $2395...almost where you would be today if you bought at $400,000. Now it may be true that no one can predict where interest rates will eventually go but the safe bet is that they will rise rather than retreat considering today's market rates.
How much did you pay in rent in the meantime and what were the tax benefits that you missed out on? I'll be happy to help you get educated about your goal and when you're ready to buy your home, you'll be much more prepared to make the right decisions. I'm here to help.
Visit my website for access to mortage calculators and reports on various mortgages and how they can influence the way homes are purchased at http://www.alan-realtor.com. You can also shop mortgage rates and even start a pre-approval process by clicking on the COLDWELL BANKER MORTGAGE ICON. Your comments are always welcomed and appreciated. SeeYou..........
Saturday, October 14, 2006
Website Gains Accolades
I was recently informed that my website http://www.alan-realtor.com was awarded the distinction of one of the Top 100 Real Estate Websites in Louisiana by the RE Pros organization. Real Estate Pros screens website submissions to determine the quality and quantity of information offered which best serves the public interest in the area of Real Estate. Thousands of sites are submitted, however, only 100 are awarded placement on the company's website. You can check out the entire list at http://www.realestatepros.org/top100/.
I am very happy and honored to have my real estate site designated in the Top 100 in the State of Louisiana. It is always a rewarding experience to know that the time and effort put into the design, content and daily updating of the site is worth the effort. I strive to offer the very best of current information pertaining to my market area as well as articles, reports, tips, and more in a format which is easily navigable by clients while always keeping in mind " what is in it for the client" rather than the site being " what's in it for me".
I invite you to visit my site at http://www.alan-realtor.com or my alternative domain can be found at http://www.mandevilleagent.com and evaluate the site yourself. If you think it deserves the recognition it has been awarded let me know. If you would like to see the site improved in some fashion I would like to hear about that as well. Your comments are always welcome. SeeYou...
I am very happy and honored to have my real estate site designated in the Top 100 in the State of Louisiana. It is always a rewarding experience to know that the time and effort put into the design, content and daily updating of the site is worth the effort. I strive to offer the very best of current information pertaining to my market area as well as articles, reports, tips, and more in a format which is easily navigable by clients while always keeping in mind " what is in it for the client" rather than the site being " what's in it for me".
I invite you to visit my site at http://www.alan-realtor.com or my alternative domain can be found at http://www.mandevilleagent.com and evaluate the site yourself. If you think it deserves the recognition it has been awarded let me know. If you would like to see the site improved in some fashion I would like to hear about that as well. Your comments are always welcome. SeeYou...
Tuesday, October 10, 2006
It's All About Family
Every year around this time, the kids start getting excited about the kickoff of the holiday season. First they'll get to celebrate Halloween by going door-to-door in costume gathering candy. Then before you know it, Thanksgiving, Christmas, Hanukkah, Kwanza and New Years will be upon us. Looking for ways to make this holiday season meaningful?
The key to success is taking the time to come up with things you can do together as a family. An activity sure to make an impression on everyone is working on holiday-themed arts and crafts projects together. Rather than going out and buying decorations -- which anyone can do -- think about how much fun, and meaningful it will be to make them instead. This time of year, stores across the country are fully stocked with the materials needed to make just about any holiday decoration you can imagine. For Halloween, there are artificial pumpkins you can carve into reusable Jack-o-lanterns, all the materials you need to make a holiday-themed centerpiece, and easy-to-use foam craft kits that allow even the little ones to construct 3-dimensional haunted houses, scary skeletons or even witches on broomsticks.
Here's another project the entire family would enjoy doing, a "Mummy Pumpkin". The materials you need are: Medium white pumpkin, cheesecloth, brown, white, red and black acrylic paint, gel medium, scissors, a paintbrush, a ruler, disposable plates, paper towels and a container of water. Instructions: Cut strips of cheesecloth, each about 3-inches wide. Apply strips to the pumpkin by wrapping with Gel Medium. Be sure to leave an open space for the eyes and mouth. Let dry. Paint the eyes and mouth with acrylic paints as desired. Use a small amount of water to thin brown paint and dry crush over pumpkin. Let dry.
Once Halloween has passed, turn your attention to Christmas. Among the more popular projects are wreaths and ornaments, gingerbread houses and snowmen, even personalized gift tags. Many of the projects are so simple, the little ones can do them either on their own or with minimal assistance. Here are the instructions for making a Reindeer Ornament: Materials: A reindeer pattern (which you can download from the Michaels Web site (www.michaels.com), a plastic snap together ball, brown craft foam, brown and tan felt squares, a small red jingle bell, oval wiggle eyes, 1/2 yard of green ribbon, craft glue, scissors and a black permanent marker. Instructions: Using patterns (or free-hand draw if desired), cut two antlers from the brown craft foam, two ears from brown felt and hair from tan felt. Glue the antlers, ears and hair to the plastic shell. Glue the wiggle eyes and red jingle bell nose in place. Use the marker to draw a mouth and eyelashes. Tie ribbon into a bow and glue to the bottom of the ball.
Have some fun with the family and remember to visit my website at http://www.alan-realtor.com for the latest and greatest real estate info on the Northshore. Your comments are always welcomed and appreciated. SeeYou......
The key to success is taking the time to come up with things you can do together as a family. An activity sure to make an impression on everyone is working on holiday-themed arts and crafts projects together. Rather than going out and buying decorations -- which anyone can do -- think about how much fun, and meaningful it will be to make them instead. This time of year, stores across the country are fully stocked with the materials needed to make just about any holiday decoration you can imagine. For Halloween, there are artificial pumpkins you can carve into reusable Jack-o-lanterns, all the materials you need to make a holiday-themed centerpiece, and easy-to-use foam craft kits that allow even the little ones to construct 3-dimensional haunted houses, scary skeletons or even witches on broomsticks.
Here's another project the entire family would enjoy doing, a "Mummy Pumpkin". The materials you need are: Medium white pumpkin, cheesecloth, brown, white, red and black acrylic paint, gel medium, scissors, a paintbrush, a ruler, disposable plates, paper towels and a container of water. Instructions: Cut strips of cheesecloth, each about 3-inches wide. Apply strips to the pumpkin by wrapping with Gel Medium. Be sure to leave an open space for the eyes and mouth. Let dry. Paint the eyes and mouth with acrylic paints as desired. Use a small amount of water to thin brown paint and dry crush over pumpkin. Let dry.
Once Halloween has passed, turn your attention to Christmas. Among the more popular projects are wreaths and ornaments, gingerbread houses and snowmen, even personalized gift tags. Many of the projects are so simple, the little ones can do them either on their own or with minimal assistance. Here are the instructions for making a Reindeer Ornament: Materials: A reindeer pattern (which you can download from the Michaels Web site (www.michaels.com), a plastic snap together ball, brown craft foam, brown and tan felt squares, a small red jingle bell, oval wiggle eyes, 1/2 yard of green ribbon, craft glue, scissors and a black permanent marker. Instructions: Using patterns (or free-hand draw if desired), cut two antlers from the brown craft foam, two ears from brown felt and hair from tan felt. Glue the antlers, ears and hair to the plastic shell. Glue the wiggle eyes and red jingle bell nose in place. Use the marker to draw a mouth and eyelashes. Tie ribbon into a bow and glue to the bottom of the ball.
Have some fun with the family and remember to visit my website at http://www.alan-realtor.com for the latest and greatest real estate info on the Northshore. Your comments are always welcomed and appreciated. SeeYou......
Monday, October 02, 2006
Overpricing Your Home--"The Cardinal Sin"
Many people believe that the starting listing price for a house isn’t important because it can always be adjusted later. However, overpricing your house could prove to hurt your chances of selling. Agents show clients houses in similar price ranges and yours could be passed over as not as attractive as the other houses at the same price. Agents also pay the most attention to new listings. New listings are on the “hot” sheet circulated in real estate offices, and a properly priced house from the beginning will get the most attention.
You might want to set a high selling price with the intent of negotiating, but buyers do not initially think about how much you are willing to negotiate, but rather, they are comparing your asking price to other asking prices. Lowering your price after your house has been on the market for a while will likely get unnoticed by agents because your listing will not be moved back into the new listing cycle. This could ultimately lead to receiving lowball offers and you could sell for less than if you had priced the home correctly in the first place.
Ultimately, starting out with the right price for your house should lead to a higher selling price than if you had started with a higher asking price. I welcome your comments please feel free to post a reply. Please remember to visit my website at http://www.alan-realtor.com for the latest and greatest info on real estate. SeeYou......
You might want to set a high selling price with the intent of negotiating, but buyers do not initially think about how much you are willing to negotiate, but rather, they are comparing your asking price to other asking prices. Lowering your price after your house has been on the market for a while will likely get unnoticed by agents because your listing will not be moved back into the new listing cycle. This could ultimately lead to receiving lowball offers and you could sell for less than if you had priced the home correctly in the first place.
Ultimately, starting out with the right price for your house should lead to a higher selling price than if you had started with a higher asking price. I welcome your comments please feel free to post a reply. Please remember to visit my website at http://www.alan-realtor.com for the latest and greatest info on real estate. SeeYou......
Sunday, October 01, 2006
Make A Soldier Happy
Just came across this website, LetsSayThanks.com. You can send a free postcard to a US soldier overseas thanking them for their service. And, it’s free.
The postcards are designed by children ages 6-14. So, if you have a child, or work with children, consider creating and submitting designs to give the children a fun project. Xerox Corporation is printing and mailing the cards.
It only takes a minute to send a card - choose a design, choose one of the prepared messages, or write one of your own, click Submit, and you’re done! You aren’t required to provide any personal contact information.
A letter from home when you’re far away can be a big morale booster. Send a card today - and tell your friends! Don't forget to visit my website for the latest and greatest info on real estate at http://www.alan-realtor.com SeeYou!
The postcards are designed by children ages 6-14. So, if you have a child, or work with children, consider creating and submitting designs to give the children a fun project. Xerox Corporation is printing and mailing the cards.
It only takes a minute to send a card - choose a design, choose one of the prepared messages, or write one of your own, click Submit, and you’re done! You aren’t required to provide any personal contact information.
A letter from home when you’re far away can be a big morale booster. Send a card today - and tell your friends! Don't forget to visit my website for the latest and greatest info on real estate at http://www.alan-realtor.com SeeYou!
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