Judy Sells The Shoals

Sellers all over the country are confused and worried they may have missed the best time to sell their home. Prices are dropping, mortgage rates are rising, and the pace has slowed but the impact on any individual seller is unclear. While the days of any home selling for any price are behind us, the current housing market is still strong. The biggest hurdle for sellers is to avoid the feeling that they missed their chance to get top dollar. Yet, many times the seller intends to buy again also; so while they may sell their home a little lower, they will also buy the new home a little lower as well. ABCs of Success The ABCs to a successful sale are not complicated. They are the basics of home selling, but if followed, it will ensure a timely and profitable home sale. A) Appreciation –  When sellers hear this term, they normally think of the value of the home. During a challenging market, this kind of appreciation is to appreciate every buyer who wants to come by and every offer you recei

Buying a new home is exciting and confusing. There are a lot of steps to buying a home, and people have questions. These are the most common questions home buyers have, and the answers. 1.  How do I get started? –  The first step is to speak with a lender and get a pre-approval. This will tell you, and potential sellers, how much you can afford. 2.  How long does it take to close on a home?  – Typically, it takes about 30-45 days once contracts are signed to complete the lending, appraisal, and inspection processes. 3.  What does my agent do?  – A buyer’s agent will negotiate terms and manage the closing process from start to finish. 4.  How much do I pay for a buyer’s agent?  – Nothing. The seller’s agent gives the buyer’s agent a portion of their commission from the seller. 5.  What credit score do I need to qualify?  – A 620 FICO score or higher is required for most home loan programs. Talk to a lender for other options for lower scores. 6.  How much money do I need for a down payme

In previous decades, a warm, cozy home required dark colors and heavy materials. One can envision sitting in front of a roaring fire in a dark room filled with pillows and wood paneling. Contemporary homes are brighter, with clean lines and light colors and textures. The challenge is how to create an inviting, cozy space that everyone wants during the cooler months. Fortunately, it’s not necessary to choose between the claustrophobic styles of the past and warm inviting rooms. The first tip is lighting. Soften the lighting and consider swapping cold, metal fixtures for ones using natural materials, such as willow or linen. Next, layer blankets throughout the home. Imagine the luxury of falling into a soft bed with layers of cozy white blankets and quilts. Neutral colors gain dimension by contrasting subtle hues of the same palate. We change our lifestyle during colder months as well. Lifestyle shifts from our outdoor spaces to interior rooms. Create a warm beverage station to invite gu

Homebuyers have had a rough time lately. First, the frenzied housing market stymied so many offers and caused frustration due to lack of inventory. Now that the pace and prices are starting to drop, interest rates have ticked up to alarming levels. While some buyers are postponing their purchase, those still in the market are starting to consider more creative financing, including an ARM (Adjustable-Rate Mortgage). What is an ARM? Unlike a 30-fixed mortgage, as the name suggests, the interest rate of an ARM can change over the course of the loan. The interest rate is based on an index, such as the one year T-Bill. Additionally, the timing of adjustment is fixed in the loan documents, so the borrower knows how to plan for changes. For example, a 5/1 ARM means that the initial interest rate is fixed for the first five years and then can adjust once a year for the remaining 25. Likewise, a 7/1 ARM has a fixed period of 7 years. There are also built-in protections to ensure that the adjust

The most important aspect of listing your home for sales is the asking price. Unlike many other items we purchase, home prices are based on what a willing and able buyer would pay for the property. Sounds complicated, right? This is why real estate agents bring comps ( short for comparable properties) information with them to the discussion. Yet are you using the right comps to successfully sell your home? The idea is to gather information about comparable properties that have sold recently that are similar to your own. The goal is to compare apples to apples. In other words, the properties should be as close to the subject home as possible. This includes things like: ·  Location – how far is the property from yours. ·  Size – square footage is an important aspect of value. ·  Number of bedrooms/bathrooms – even if the square footage is close, the number of bedrooms and bathrooms can have a large effect on price. · Style, view, street, yard – even the exact same floorplan can have vast

  Building codes change over time and for people who have owned their homes for a long time, they may not know if their home is out of code and if so, does it matter. Building codes and violations from jurisdiction to jurisdiction and focus on issues that can affect the safety of the dwelling and its occupants. A home that’s “up to code” may answer the questions: ·  Does the home have fire escapes and exits? ·  Are plumbing lines intact and functional? ·  Are construction materials in good condition and free from asbestos and other hazardous chemicals? ·  Is the home well-lit and free from tripping hazards? ·  Is the HVAC system working efficiently? Avoid Code Violations There are things to look for in both an existing house and a potential home. · Check for any permits on the home and always ensure any work done on the home includes permits. · Test for hazardous materials such as asbestos or lead. These materials are common in older homes. If found, these need to be removed by profess

  As the world emerges from the pandemic era and begins to look for a new normal, we’ve all changed the way we look at homeownership and lifestyle. More and more, families are forgoing exotic vacations and using the savings to enhance their home for staycations. In addition to the home improvement boom, the second home market has also exploded. Owning a second home was once a privilege for the rich and famous, but now even those with a modest income can purchase a second home. There are some great benefits to owning a second home. The first is enjoyment. Many people buy a second home to get a change of scenery. With more companies offering a work-from-home option, spending winter in a warmer climate has become feasible for the average person. There are financial advantages to buying a vacation home. A second home can help you save money on your taxes. The mortgage and property taxes of a second home can be deducted from your income in the same way a primary home is. The property can al

The question of moving for a new job is not uncommon. In the past few years, more and more companies are moving their entire operations out of high-tax states to those more business-friendly. Possible work-from-home options further complicate the decision to move with your company. So, should you move when your company does? Things to Consider Before You Move for Your Company ·  Career Growth –  One of the biggest reasons to stay with your job through a move is career growth and advancement. Speak with your manager or HR professional about what kind of career path is available before you decide. ·  Better Location –  Companies moving out-of-state often move to a more desirable location. If the new area appeals to you, then using a corporate relocation package can be a cost-effective way to move to a better location. ·  Personal Relationships –  Moving away from family and friends may be too high a price to pay to stay with your company. Aging parents or the school your children enjoy m

  Buy now or wait! This is the question on all potential homebuyers’ minds this fall. Over the past few weeks, the mortgage interest rates have soared to a 14-year high. Excessive government spending combined with surging energy costs and rising inflation has caused many would-be homebuyers to lean toward the wait side of that argument. But is this really a bad time to purchase a new home? Maybe not. First, there is no way to predict the bottom of home prices for any recession. If the economy continues to struggle, it’s likely that home prices will continue to drop, offering better sales prices. But at the same time, inflation is still rising, and the Federal Reserve has clearly indicated they will raise interest rates as needed to cool this trend. This means that while home prices may come down some, the cost to borrow money will also rise; for homebuyers on the fence, they are hoping that the lower sales price will outpace the rising interest rates. The truth is there is no way to kn

  Your home is typically the largest financial investment you’ll ever make. Over time, we expect the equity to increase through increasing property values and a decreasing mortgage balance. While homeowners recognize the need to maintain the home in good condition, one of the best ways to maximize your home equity is to create a plan for ongoing improvements and updates. Often the interest in a remodeling project results from either an unexpected windfall or financing for a specific project but by planning for ongoing improvements, any homeowner can engage in updates to stay current with market trends. As tastes change, homebuyers are attracted to new features. Outdoor kitchens, great room configurations, and home offices are just a few of the trends from the past few years. More timeless desires include more square feet, chef’s kitchens, and spacious bathrooms. To stay ahead of trends and build equity, smart homeowners should build a plan for continuous improvements. In addition to de

  World events and government spending has led to soaring inflation. The Federal Reserve has only one tool in its arsenal to curb and reduce this trend – raising interest rates. While contemporary home buyers are accustomed to interest rates in the 2-4%, older homeowners remember being excited to get one as low as 8%. As yet, we have no indication such a drastic increase is necessary, home mortgage interest rates are creeping up and potential home buyers may be asking if they should still try to buy a home. One of the first things to consider is affordability. A higher interest rate will impact the amount of the loan each buyer can qualify for, potentially reducing their spending power. Yet, home prices are also beginning to soften, so it’s possible that this correction will reduce any possible impact from rising rates. Secondly, home ownership has been a strong hedge against inflation historically. Buying a home locks in the cost of the largest budgetary portion of your expenses – you