Reverse Mortgages

If you are a home owner or getting ready to be a home owner and you know that money is tight especially with the economy the way it is, it is important to think of all your financial options. There are all kinds of options, borrowing money from friends and family, loans, and mortgages. You may be wondering what type of loan is best for you though because there are so many. If you are a home owner and have been one for quite awhile, reverse mortgage may often you many benefits. This way you can make sure your home and family is well taken care of. Here are some benefits of these mortgages to help get the process started for you.

Ask your Greenwich real estate agent for advice
If you are an older home owner, planning to buy or even sell your home, it’s a good idea to ask your agent about the types of mortgages that would best benefit you. They have experience seeing all different buyers and sellers and are a great resource.

Reverse mortgages mean the lender pays you
If you are the borrower with a reverse mortgage the lender owes you payments instead of the other way around. These payments can be made as a lump sum, monthly, periodically, or in any combination of those.

Older home owners with equity benefit from these mortgages
If you are 62 or older and have equity in your home you may benefit more from reverse mortgages. Your existing home could be paid off, FICO scores do not apply and credit history does not apply.

Costs vary but are not too bad as with other mortgages
As with any mortgage a borrower has some fees to pay but these fees are not as pay or as high as some. Some fees may include: insurance premiums, monthly lender fees, application fee, and closing costs.

The longer you have owned a home the more you may be able to borrow.
How much a person can borrow with reserve mortgages depends on how much equity is in their home, the type of program you choose, and the age of the borrower. So, these mortgages may benefit older home owners or home buyers with more equity.

Knowing these benefits about reverse mortgages can help you as a home owner or buyer; decide which type of mortgage is best for you. This way you can know that you are safe and secure in your home and have fewer worries in the future.

Greenwich Real Estate News - Tips for Selling your Home If you Have a Disability

If you are selling your home, you know how stressful it can be. It may be hard to find a good real estate agent, to show your home, fix it up, not to mention packing for your new home and future. If you have a disability this process of selling your home may be even more of a challenge. Here are some basic tips for how to sell your home even if you have a disability. This will help make the process easier for everyone and get everyone to their bright new future.

Ask your Greenwich real estate agent for advice
Real estate agents have experience selling homes for all types of people and will be a great resource for advice and tips on how to sell your home.

Advertise gearing towards others with disabilities
It is important to advertise in the newspaper and on the internet, like everyone else but advertising in magazines and on websites that are for others with disabilities may bring in even more buyers.

Mention the extra space and support as a benefit
When listing your home, mention the extra space and support of your home as a benefit. Talking about how it is a home to suit all needs will bring in more possible buyers as well.

Highlight any remodels that have been done
Highlighting any remodels or improves that have been done to the home to make it accessible will make it more appealing because possible buyers may not have repair or update much at all.

Talk about the location
When buyers come by to see your home, it is important to talk about the value of the location. Maybe the neighborhood is more secure because you needed it that way, so it will make other owners feel safer. Or maybe it is accessible to many schools, shops, or highways. These may all be appealing to a buyer and worth talking about.

With these tips, the process of selling your home even if you have a disability should be made a little easier. This way a buyer may feel more comfortable and so will you. Then you both can get on your way to your bright new futures with less worries and problems.

Marketing Mistakes to Avoid When Selling

When you have decided to sell your home and move on to your new future, it is important that buyer’s get a good first impression of your home. You want them to see it as a good comfortable, safe, nice place for them and their family. You want them to see it like you did when you first bought the home. This requires good marketing such as open houses, pictures, tours, networking, and more. If you know about marketing at all, you know there is good marketing and then there is marketing mistakes that can be bad. Here are some tips to help you avoid bad marketing when selling your home. This way you can sell your home faster and for the price you want and get on to that future.

Ask your Greenwich real estate agent for tips
As your agent, they have experience in what sells a home and what may not be such a good idea. If you are looking to avoid bad marketing ideas, agents are an excellent first resource of information.

Avoid taking pictures that are too dark or cluttered
You want a buyer to see your home as bright, spacious and comfortable. Taking pictures in bad light or of a cluttered room may give off the wrong first impression and make a buyer lose interest.

Avoid withholding important information
If there are tons of homes for sale, it is important to include important descriptions and details that make your home stand out first the rest. If it does not, a buyer may look elsewhere before giving your home a chance.

Try not to be too restrictive about showing your home
If an agent cannot get in to show a buyer a home because of too many time or other restrictions, a buyer may not even want to do business with you as a seller. Try to be as cooperative as possible.

Avoid not including incentives for buyers
Buyers like knowing that there is an incentive to buying your home such as an allowance or credit toward home repairs, home protection plans, weekend getaways, and more.

Avoiding these marketing mistakes and talking about alternatives with your agent, will help you to sell your home faster in any market. That way you can get on to your new future with fewer worries and holdups and a new buyer can enjoy your home sooner too. So everyone wins.

Greenwich Real Estate News - Home Equity Loans

If you are a seller of a home and want to buy a new one, but may not have the funds, it is important to consider all your options. If you have equity or value in your first home, a home equity loan may be right for you. These loans are junior loans and pay out quickly and come in second to a first mortgage. These loans use your home as the security. If you make your payments on time and your home has value, these may be a good option for you. Here are some tips about home equity loans to get you started.

Ask your Greenwich real estate agent for advice
Real estate agents have experience with many different types of loans and will be a great resource in helping you decide if a home equity loan may be right for you.

Loans can be used to purchase a new home
These loans can be used toward the purchase of a new home. However, lenders typically won’t give the loan if your current home is on the market. So, you may want to make these decisions ahead of time and plan out what is best for you.

Home Equity loans are tax deductible
This makes these loans favorable for making home improvements or repairs, paying for big expenses such as a college education or a new car.

Have long loan terms
Other loans may only have short term loan options but these loans have many options such as 3, 5, 7, 10 or even 15 years. This makes these types of loans more attractive to many homeowners.

Can Borrow 100% equity
With some loans you can only borrow up to so much within a certain type frame, but since this loan is based on the equity of your home, you can borrow up to 100 % of it. This also makes this loan appealing especially if a homeowner needs the funds to pay for something big.

These tips and information about home equity loans can help you as a homeowner to decide if this type of loan is best for you. Then you can be on your way to owning that new home of your dreams with fewer hassles and worries. You can just enjoy your new future.

Greenwich Real Estate News - Tips for Buying a Home When Relocating

In this economy, many people may be moving because of a better job offer, lower taxes, or just a better place to live for them. Whatever the case, it may be hard to buy a home when you are relocating because you are not familiar with the area and may not know where to start first. Here are some tips to buying a home in a new area to help get you started, and make the process easier for everyone. That way you can get started enjoying your new home even faster.

Find a Greenwich real estate agent and talk with them
Find an agent either by looking online or contact family and friends that may live in the area. Then talk to them about your situation and what you are looking for. They will be a great resource to help you find a home that is right for you.

Look Online at the area
You may want to start by looking at the tourism areas of the city to get an idea of what it is like or if you want a place close to your new job, you may want to start there. Ask coworkers for ideas as well.

Look through local newspapers for listings
This will help you get an idea of how the market is in this area and about possible neighborhoods and what homes are selling for. It is a good resource when first looking in a new area.

Gather information on disclosures and inspections
Every state does this a little differently, so it’s a good idea to get an idea of what to expect and what kinds of facts are allowed to be disclosed about the homes you might buy. This way you are one step ahead before viewing possible homes.

Decide on Neighborhoods to look in
After gathering this information, it is a good idea to narrow down which types of neighborhoods you would like to look in for a home. That way your real estate agent can better help you find a place that is right for you.

When you are relocating, trying to find a home can be difficult. With these tips though, hopefully the process will be a little easier. Then you can know what to expect and enjoy your new home and new area that much more and have fewer worries too.

Greenwich Real Estate News - Fall Staging

Fall is one of the most beautiful seasons in central New York. The leaves turn red, orange and yellow and the air takes on a crisp feeling that signals the near arrival of winter. Although most real estate advice tends to recommend spring and summer as the best times to sell a home, the right staging strategy can help you sell a home any time of the year.

There are staging rules that you need to follow if you want to give your home the best chance of selling; they don’t change from one season to the next. Curb appeal is still one of the most important factors to consider when staging in the fall. Rake up and bag all leaves and arrange to have the bags removed. Plant mums, available in the deep reds, oranges and yellows of the season, along the front of the home. A pumpkin or two along the porch is a nice touch. If it is icy or snowing, make sure that sidewalks, walkways, porches and stairs are free of ice and snow.

When it comes to selling a prospective buyer on the interior of your home, you should keep in mind that fall and winter buyers are looking for slightly different things than spring and summer buyers. For example, the sunroom that held a lot of promise a few months ago is now seen as a potential heating nightmare. Although showcasing natural light is still important, realize that buyers want a home that will be cozy and warm. Put up thicker window treatments and keep the heat turned up a bit when you are showing the home. If buyers are chilled while viewing the house, they will be a lot less likely to buy. If you have a fireplace, make sure it is cleaned and ready for use. If you have room, set a couch or loveseat in front of it, encouraging buyers to imagine curling up in front of a roaring fire on a cool night.

Fall and winter mean holidays, and holidays mean decorations. You don’t have to keep your holiday decorations packed away until next year just because you are moving. Decorate, but do so in a tasteful and sparse way. This isn’t the time to go overboard. A simple (non-flashy) decoration or two in each room is perfect.

The holidays also lead to clutter, and a lot of it. Gathering supplies for preparing holiday meals, wrapping gifts, and all of the other seasonal clutter-causers can add up fast. Devise an organization system and stick with it. Keep in mind that buyers want to see themselves in the home, which is difficult to do with clutter scattered around tables and counters.

A home should feel warm and inviting when it was being shown. In the fall and winter, there is one way to quickly and easily add a lot of charm and warmth to your home. Approximately 15 minutes before potential buyers arrive, pull a batch of fresh cookies, a fresh loaf of bread, a pie, or some other cold weather treat out of the oven. The smell of fresh baked goods can work wonders when you are trying to create a cozy feeling.

Greenwich Real Estate News - Things a Seller Must Disclose about Their Home

When selling a home, you want to impress the buyer and make them want to live in your home as much as you enjoyed living in it. You want them to see the benefits and good aspects of your home and not as many downsides or negatives. By law though, there are some things a seller must disclose or tell a buyer about their home. Here are some of the things a seller must disclose and how to disclose them. This may help make the process easier for both buyers and sellers in the long run.

Ask your Greenwich real estate agent for advice
When it comes to disclosing information about a home, a real estate agent has much experience with this. They can help you disclose information to a buyer and still make it to where the buyer may be interested. They are a great first resource.

Federal Disclosures about Lead Paint
If the home you are selling was built before 1978, the seller is required to disclose about the use of lead-based paint and the buyer is allowed to inspect the home for lead-based paint. This could save the seller money and hassles later on.

Material Facts Disclosed
This includes anything that may make the buyer reconsider buying the home, such as a defect, problems with the property, or a death in the home. Some states do not require disclosing death so check with your state.

Disclosing Cause of Death
Each state is different so you will need to check with yours, but it is a good idea to disclose this information especially if it was violent because this may effect the buyer’s decision to buy the home.

External Disclosures
These are any disclosures that could affect the property such as earthquakes, tornados, flooding, zoning, noise, water, ground or air pollution and any other possible hazard to a buyer.

Either though sellers may not want to disclose negative information about their homes to buyers, some disclosures are required and knowing what is or is not required by the seller can make the process less stressful for everyone. That way both buyers and sellers can rest easier with fewer worries in the future.