Judy Sells The Shoals

A brand-new home! Who hasn’t dreamed of creating the perfect home from scratch and moving into a space that no one has ever lived in before. There’s something special about a fresh home, but remember, new doesn’t mean perfect. And it certainly does not mean that there won’t be imperfections, small or large, to contend with. One of the most important things to understand up front is what does your warranty cover? A builder’s warranty covers typical defects and other problems, but the fine print outlines timelines, procedures, and limitations. A thorough reading prior to closing will clarify how to handle any issues that arise when you move in. When you are ready to move in, your checklist will differ from a typical resale home. First, always have an independent home inspection, just as you would if you purchased a used home. Alert the builder immediately of anything that the inspection uncovers. During the final walk-through, you will also want to make sure the home was completed correc...

  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 t...

  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 t...

 “I’m so sorry, they went with another offer.” It’s a shocking thing to hear; you’ve already moved into that dream home in your mind. It’s common to start second guessing yourself, even condemning yourself for not offering more money or better terms, but the truth is sometimes it just doesn’t work out. The next step is to figure out how to move on. • Go Ahead and Mourn – It’s perfectly reasonable to mourn the loss of the “perfect” home. • Take a Break – This might not be as easy as it sounds if you need to move, but even a short weekend off to regroup and refresh will allow you to continue the search. • Understand What Went Wrong – It may be that you did nothing wrong and the seller got an all-cash offer 20% over asking, but it’s still a good idea to talk with your agent about your offer, make sure you truly offered a fair price with reasonable terms and if not, make adjustments next time. • List What You Liked About the Home – Make a list of the features you liked about ...

It's been difficult to adjust to a new normal during the past few weeks. With most residents being asked to stay at home, there are many who have recently lost their jobs or been asked to work remotely. The mortgage industry has also taken a big hit that has directly affected homeowners, renters, and investors alike. There are many who are in the final stages of closing on their homes, and the current pandemic has made it difficult to efficiently move forward with the process. To help, desktop and exterior- only appraisals are being accepted as long as there is sufficient property information available online. Potential borrowers can also now submit their verification of employment via email, paystub, or bank statement to help streamline the process. Significant changes have been made during the recent outbreak of COVID-19 to help homeowners get through this trying time. Those who have lost their jobs may be eligible for reduced or suspended mortgage payments for up to 12 mo...