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.

Greenwich Real Estate News - Option ARM loans

If you are experienced with mortgages and your income may be different every month, but you still need financing for a new house, you may not know which option is best for you. Option ARM loans may be just what you need. Some people think they are bad because they do not include the full amount of interest in the monthly payments, but for people who know who to budget well and may be on a budget this is not a problem and these loans actually offer many benefits. Here are some tips to help you decide if these loans are right for you.

Ask your Greenwich real estate agent for advice
Real estate agents have plenty of experience with loans and financing options and they will be able to provide you with information to help you decide if an option ARM loan is right for you and your family.

Has a low start rate
These low start rates are like teaser rates and are good for one to three months and it helps figure your minimum monthly payment.

Minimum Monthly payment option
This option is good for four to five years and does not include your full interest payment. This makes these payments lower and good for people whose income is different every month.

Interest Only Option
These loans also offer an interest only option which means that you would only pay the interest on the loan per month and not principal.

Fully-Indexed Option
This means that the index rate would be added to the margin for the loan and this adjusts every 6 months and the index rate would adjust every month.

As you can see ARM option loans, do just what they say, they offer many different payment options. If you have an income that is different every month and know how to budget for these differences, ARM Option loans may be just right for financing your new home. This way you can get on to enjoying your future with less financing worries.

Greenwich Real Estate News - Tips for Home Warranty Plans

If you are a buyer, you not only want to pick out the perfect home, but you want to make sure that home is in good condition when you buy it and that you are covered if something is to break or to go wrong. Here are some tips for home warranty plans to help make the process of coverage easier for everyone involved. This way you can just enjoy your new home and worry less about things that may happen later on.

Ask your Greenwich real estate agent about warranties
As a real estate agent, it is part of their job to know about home warranties and what plan will be best for both the buyer of a home and the seller. Some real estate agents even give buyers a warranty as a closing gift.

Seller or agent pays for warranty
Giving the buyer a warranty is a benefit to the seller because then a buyer will not call and tell the seller about problems after they buy the house. It also may help make a buyer more interested in the purchase if a warranty is offered.

Warranty usually covers appliances inside the home
A typical warranty will cover appliance inside the home such as a dishwasher, refrigerator if it comes with the home, ceiling fans, light fixtures, and more. If something breaks, the owner calls the company and then a provider is sent out to fix it, if it cannot be fixed, the warranty will usually cover the cost to replace and install the item depending on coverage.

Items a warranty will not cover
Some items are not covered by a warranty these items may include: outdoor items such as sprinklers or patio furniture, some faucet repairs, garage doors, washers and dryers, spas or pools, and anything that needs hauled away.

Some items may be denied
Sometimes items that are covered by a warranty may be denied for a certain reason. These reasons may include: improper maintenance, code violations, unusual wear and tear, and improper installment.

It is important as a home buyer to make sure you are getting the best deal possible for your money including coverage by a home warranty. These basic tips about warranties will help get you started, so you can be on your way to a brighter future in your new home and fewer concerns later.

Greenwich Real Estate News - Homeowners Insurance Tips

There is so much to think about when shopping for a home, location, price, and if it fits everyone needs among many other things to consider. Somewhere in all the things to think about, homeowner insurance sometimes takes a back seat and gets thought about at the last minute. It is very important to have homeowner insurance, so here are some tips to help you pick a policy now and not at the last minute. This will help you and your family to be safe and happy in your new home.

Ask your Greenwich real estate agent for advice
Real estate agents have experience with anything dealing with buying a new home, including insurance. They will help you to decide which policies may be right for you and are a good starting place.

Determine Insurability
In order for an insurance agent to know how much coverage you may need and want, they need to ask you questions. These questions may include: when was the home built, how old is the plumbing and electrical, the location of the home, the size of the home, pervious coverage, and more. It is important to know the answers to these questions or know how to find out.

Pay attention to deductibles
Having a higher deductible can help save you money, but you have to be careful. Some companies will only offer you certain deductibles depending on your mortgage. Make sure to ask questions before deciding on a deductible.

Decide how much coverage you need
Depending on how much you will be in the home, how offer things need to be replaced, if there is water damage, or security problems, all factor in to how much coverage you need. Ask plenty of questions to make sure you get exactly what you need.

Review your policy
If things change with your home or your lifestyle, your policy may need to change. Be sure to keep in close contact with your agent and know your policy.

These homeowner insurance tips will help new home buyers consider homeowner insurance now rather than later. That way you will not be rushing around later and can just enjoy your home. This will help make your family and you feel more secure now and in the future.

Greenwich Real Estate News - Short Sale Tips for Sellers

In this economy and these days, many people trying to sell their homes need to sell their homes fast. This may be because of cash flow problems, job conflicts, location conflicts or personal reasons. Whatever the case, there are some options. Having a short sale can be an advantage for these types of sellers. Here are some tips on how to set your home up for a short sale. That way you can move to your new place right when you need to with fewer worries and hassles.

Ask your Greenwich real estate agent for advice
Real estate agents have experience with all types of sales. They will be able to help you determine if a short sale is best for you and your family and help you get started.

Determine the value of your home
If you are working with a real estate agent, they can help provide you with help in determining how much your home is worth.

Add up all your costs
Add up all your costs of selling your home. Then work with your real estate agent or broker they can then help you determine your closing costs.

Figure out what is owed
It is important to figure out what is owed on the property, including all loans taken out for the property.

Contact a lender
Contacting a lender, will help you determine how they specifically handle a short sale of a home. Some lenders will help you reduce what it is owed or make other options possible. Others make work with agents or anyone else involved to see if they can help in any way to make the short sale possible.

These tips will help those home owners who need to sell their home fast, get a good start. That way they can be on their way to that new job, new location, friends and family and more and have less left behind to worry about. This way they can focus more on their new bright future.

Parkway Elementary Distinguished Teacher

Mrs Charill Pierce, First grade teacher at Parkway Elementary School in Greenwich, nominated by Laura Granville (parent) has been awarded the Distinguished Teacher Award for 2010 along with 5 other recipients of the same achievement. There was a lovely ceremony Tuesday 5/4/10 at the Western Middle School acknowledging their hard work and commitment to children.

My son is currently in Mrs. Pierce's class and I can certainly attest to her ability to seek out each child's different learning skills and to how she nurtures them. My wife and I are blessed to have our son is Mrs. Pierce class. I'm sure all the class parents share the same admiration for our gift of greatness, Mrs Pierce.

Former Greenwich Couple in Ponzi Scheme

Former Greenwich, CT residents and married couple Jeffery Stone and Janette Diller Stone once owners of the now defunct Crescent Fund (investment firm) in NYC owe US regulators nearly $500,000 in fines and restitution for their part in a 5 year penny stock manipulation scheme

Now living in Tokyo, the couple has started another investment firm from their home, Wakabayashi Fund, LLC in which Jeffery plans to continue, but turn over the helm to others amid his SEC problems and a former one year stint behind bars in a federal prison for another penny stock scheme in which he made more than $1M from selling shares of WebSky, a San Francisco company. Not a secret for success!

The former Lehman Brothers broker and his wife claim they have done nothing wrong and only took profits.

April Single Family Sales in Greenwich, CT

The month of April has found itself to have 36 single family homes sold in Greenwich and the surrounding towns following the 35 sold in the month of March. 12 Doubling Road closed on 4/20/10 for $10,450,000 and originally listed for $11,250,000 on 1/11/10 was the highest reported sale. 240 Pemberwick Road closed on 4/21/10 for $539,000 and originally listed for $539,000 on 4/15/10 (5 days on the market) was the lowest reported sale.

Greenwich Real Estate News - Home Equity Loans for People with Disabilities

Financing a new home in this economy is hard for anyone, but if you have a disability and need assistance financing a home, it may be even more difficult. If you have your own income, home equity loans may not be that hard to get, but if you get assistance from the government as part of your income due to disability, getting these loans can be quite challenging. Here are some tips to help you figure out how to get a home equity loan even if you have a disability. This way you can enjoy your new home, worry free just like everyone else.

Ask your Greenwich real estate agent for advice
Real estate agents have experience helping people find financing options. They are a good starting place for providing connections for you to find the right financing for you even if you have a disability.

Grant Programs
There are some federal grant programs that help low income households qualify for financing or a home equity loan. Check with your city or town about applying for these grants to help you purchase a home or to make accommodations to it.

Contact Independent Living Centers
These centers can help people with disabilities find loan options or help you find areas in your community that have accommodation housing options for people with disabilities. Check your area for a local center to get started.

Home Choice Programs
These programs are specifically for people with lower income or disabilities and require a low down payment and help you pay closing costs for your new home. They may also help provide you with extra funds so you may not need a loan.

Do not allow Discrimination
The Fair Housing Act means that a lender cannot make it hard or impossible for anyone including those with disabilities to get a loan for their home. Do not allow yourself to be discriminated against just because you have a disability.

These financing tips will help make it easier for those with disabilities to afford their new home. There are many options that will make this process a little easier for everyone involved. This way you can look forward to enjoying your new home and not have many worries or hassles.

Greenwich Real Estate News - Tips for Making an offer on a Home

You may have been shopping around a while and gone to several open houses, and considered your options with your family, and now you have found the house that is best for all of you. Now, you have to make an offer on the house. This can get tricky, because you do not want to offer too low and offend a seller, but you also do not want to overpay. Here are some tips and information to get before making an offer. This may make the process easier and you and your family will be living in your new home in no time.

Ask your Greenwich real estate for advice
Even though an agent should not recommend an asking price for various reasons, they do have plenty of knowledge about homes and the market and will be a good resource in helping you get the information you need.

Check out the Market
If you are in a seller’s market, the seller may not be willing to go lower than the listed price, but if you are in a buyer’s market, you may be able to talk a seller down to the price you want. Your agent may be able to help you gather this information.

Find out how much the seller paid
The seller may have bought the home in a down market, so conditions may be more and less the same and the asking price may be close to what the seller paid for the home. This may help you determine a good asking price.

Look at comparable sales
If you look at comparable sales, be sure to only include the homes that are similar in features to get a better estimate. Your agent should be able to help you with this information as well. If you know what other homes are going for, you may be able to offer a reasonable asking price.

Ask for a home’s history
A home may have been taken off the market and then relisted, if this is true and the home was on the market for more than a month, a seller may be willing to accept a lower offer.

Once you have gathered this information as home buyer, it will help narrow down your asking price options and hopefully help you in making a decision. That way you can be in that dream home in no time and enjoying your future.

Greenwich Real Estate News - Home Buying Tips for People with Disability

If you have a disability you know how hard it may be to get around or even to communicate with people about your special requirements. This makes moving out on your own or with a family and looking for home that much more challenging. You want to find a place that you can move in easily that is going to make you and your family, feel safe and secure and also comfortable in your new home. Here are some home buying tips that may make the process a little less challenging for you.

Talk with your Greenwich real estate about your needs
Meet with your real estate about your needs and requirements and see if they can offer neighborhoods that you can look in that might support these needs. Real estate agents have experience showing many people homes and will be a great resource in finding the home that is just right for you and your needs.

Look in areas that are newer or specifically accessible
If you look in newer areas for an accessible home you may be able to find one that fits your needs or may find a seller that is more willing to modify it because it is fairly new. Also looking in areas that are specifically accessible may be nice because things are already in place.

Check the Doorways and Turn Around Space in bathrooms and kitchens
When looking for your new home, it is important that the doorways are wide enough and if you use a wheelchair that you have enough room to turn around in bathrooms and kitchens especially. You can ask your agent for specific measurements if desired.

Check the security of the home
Check what kind of locks are used and make sure you can use them or ask if they can be modified or changed if needed. It may also be important to ask about neighborhood watch programs or security or look in a gated community.

Make sure cabinets and doors are at reaching level if sitting
If you use a wheelchair or sit down for a long period of time, it is important to make sure that all the doors and cabinets are within your reach or at your height. If not, ask your agent if they can be modified.

These tips about buying a home if you have a disability should help you get started in finding a home that means your special requirements and those of your family. This way you can all feel safe and secure and enjoy your new home long into the future.

Greenwich Real Estate News - Owner Financing

With the economy the way it is and money being tight for everyone, it has become more of a buyer’s market out there. However, when you find the home you want, the tricky part is figuring out how you are going to pay for it. There are many financing options, but one that most people do consider which actually may be very popular in a buyer’s market is owner financing. This is where the owner helps you as the buyer to pay for your new home. Now this may sound like it is not possible, but it actually can provide benefits to both a buyer and a seller. Here is some information and tips on owner financing to help get you started.

Ask your Greenwich real estate agent for advice
Agents have experience with all types of financing, and what may be best for you and in which market. They also may be able to help you talk to a seller about this financing option.

Land contract owner financing
This is where the title is not given to the buyer but the buyer is given an equitable title. The buyer makes payments to the seller for a certain amount of time and the buyer receives the deed after the final payment

Promissory Notes
The seller can either carry the mortgage for the entire purchase price which may include a loan, this is called an “all-inclusive mortgage “and the seller receives an override of interest on any loans. The seller may also carry a junior mortgage which would mean that the buyer would take the title to an existing loan or a new loan. The buyer would receive the deed and give the seller a second mortgage for the balance of purchase price.

Lease Purchase Agreements
This is when the seller gives the buyer equitable title and leases the property to the buyer. After fulfilling this agreement the buyer receives the title and obtains a loan to pay the seller after getting a credit for all or part of the payments towards the price of the home.

After reviewing these options, you may consider owner financing. It means little or no qualifying based on your credit for a home, flexible payment options from a seller, flexible down payment options and much more. In a buyer’s market a seller also may be more willing to consider this option. So if money is tight or you are not sure about your credit, this may be the perfect option for you to finance that new home.

Greenwich Real Estate News - Lease Purchase Options

When buying a home especially in this economy knowing all your financing options are really important. Buyers that may have decided on a home but cannot afford to pay for the whole price right now may be interested in a lease to purchase option. If this seems like your situation, here are some tips on lease to purchase options to help you get started. That way you can still afford and enjoy your new home with fewer worries.

Ask your Greenwich real estate agent for advice
As real estate agents, they have experience making all kinds of sales with all kinds of financing options. They will help you figure out if a lease to purchase option is right for you. They may also recommend that you contact a real estate lawyer to help out as well.

Buyer pays a portion of the price
With lease to purchase options, a buyer will pay the seller a portion of the purchase with the right to buy the property later. This amount may be very little or substantial depending on the terms between the buyer and seller.

The Buyer agrees to lease property
With this option, the buyer agrees to lease the property from the seller for amount that is decided on in writing. After these terms are up, the buyer purchases the property in full.

Monthly rent goes toward purchase price of the home
With these lease to purchase options, the money that a buyer pays to the seller during the lease terms goes towards the purchase price of the home when the lease terms are up.

No one else can buy the property while leased
This option may be good for buyers because during the lease period no one else can look at buying the home which means the buyers leasing the home will have more of an advantage.

With this economy and people being short on funds, this option may be good for both buyers and sellers. The buyers get a new home and the sellers keep getting money while leasing their home before it is bought. This is a win win situation for many people and will help everyone enjoy their new futures with fewer worries.

Greenwich Real Estate News - Avoiding Home Selling Mistakes

When you get ready to sell your home, there are many things to consider. Some of these things may include: the market, pricing, open houses, marketing, and negotiating with a possible buyer among having to get ready for your own move. It is hard to remember everything and you just want to be able to sell your home for a reasonable price and then move on to your own bright new future. Here are some home selling mistakes to avoid helping make the process a little easier for you and that possible new buyer.

Talk with and trust your Greenwich real estate agent
Make sure you talk with your agent about what you want and need and make sure you trust them to help you negotiate for you and help you sell your home. If you do not trust your agent, it can make selling your home even harder.

Know the Market
If it is a seller’s market, you may have a good chance at selling your home fast, if it is not, you may have your home on the market for quite awhile. Ask your agent for further advice on how to help you to sell in any market.

Consider your asking price
If a home is priced too high, this can be one of the biggest mistakes for a seller. This leads to no buyers, having the house on the market longer and more. Consider the market and other factors such as possible buyer’s wants before pricing your home.

Make sure your home is good condition
Before selling a home, it is important to make sure the home is ready to sell. This means making any needed repairs, organizing the layout of your home, as well as cleaning and putting away personal information. Homes in bad conditions will not be attractive to possible buyers and will make for a hard sell.

Invest in good marketing
Bad marketing techniques may include: poorly taken photos, not enough open house times, not enough descriptions, not listed enough, and more. Bad marketing leads to homes staying on the market too long.

Avoiding these big selling mistakes can help you and a buyer to reach an agreement faster and sell your home for a reasonable price. That way everyone is happy and you can move on to your new future with no worries.

Greenwich Real Estate News - Buying a Home with Covenant Restrictions

Buying a home is always an exciting time, but it can also come with its stressful parts as well. If you find the perfect home for you and your family, but it comes with covenant restrictions or things you can and cannot do with the property, it is important to know all these rules and guidelines. If you know the rules, it will make enjoying your new home and getting along with the neighbors that much easier for everyone. Here are some tips about covenant restrictions to help you and your family in your new home.

Ask your Greenwich real estate agent for advice
As your agent, they should know the basics of covenant restrictions and how restrictive they are in some neighborhoods compared to others. They will be able to help you find a home and a neighborhood that works best for you and your family. As well as tell you about any restrictions.

Covenants almost always have home construction requirements
This means that the covenant may state that this many homes may only be built here, or they may only be allowed to be built with these materials or be this color in some areas. Check with your agent about your home.

Covenants may have easement rules and other restrictions
This means that they may have certain requirements as to wear a pathway can or cannot be, or who can and cannot use the property such as friends, neighbors, other relatives, and more. Tree cutting rules may also apply as well as certain fees for road repair, fencing and where you are allowed to park a vehicle

Covenants may even have pet restrictions
Some covenants have pet restrictions although this is rare. If you have pets make sure to ask your agent if the neighborhood is pet friendly and what the rules are. Some covenants only allow outdoor pets while others are not that restrictive.

Do not make any assumptions
Even if there is not a covenant, there may be certain deed restrictions and rules that apply. Be sure to check over these so you are not surprised later on.

Knowing the rules and restrictions of covenants can help make the moving process and home buying process easier for everyone. These tips can help you to pick out the home that is just right for you and your family. This way you will have fewer worries later and more time to enjoy the future.

Greenwich Real Estate News - Tips for Selling a House with Pets at Home

Selling your house can be an exciting time, but it can also be very stressful and confusing as well. There is so much to think about and do, open houses, listings, agents, finding a new house, and much more. Selling a home can be even more challenging if you have pets. Many buyers do not prefer homes that have pets because they may not look as nice or pets scare them. Here are some tips for selling your home with your pets. This will help make the process easier for everyone, including your pets.

Ask your Greenwich real estate agent for advice
Real estate agents have experience selling homes in all types of environments, including those with pets. They will be able to offer you some great advice on how best to sell your home even with your pets. They are a great resource.

Relocate your pets while showing or selling your home
This may not be the most liked solution, but it is considered the best one for selling your home. Try asking a friend to watch your pet while your home is selling or at least during open houses or board them with the vet, or send them to a relative for a little while. That way they are still cared for and you can focus on selling your home.

Keep Pet Boxes Clean and Out of Sight
If you decide to keep your pets at home, make sure to keep their boxes and areas really clean and out of sight during showings and open houses. This will make your home easier to sell.

Hire a professional to clean the carpet
If you have pet stains, it may be a really good idea to hire a professional to clean your carpet before showing your home to a buyer. That way your home looks more like new and is stain free and more attractive to a buyer.

Remove signs of pets
Keep food and water out of sight and cleaned up. Put away photos of your dog or cat and seal up any pet doors and hide any toys or leashes that may be lying around. This will make your home easier to sell and more pleasant to a buyer in the long run.

If you have pets and are trying to sell your home, it can be quite a challenge. Following these steps though can help make the process easier. This way you can focus on getting your home sold and then you and your family and your pets can reunite later and enjoy your new home.

Greenwich Real Estate News - First Time Home Buyer Mistakes

Buying a home, especially your first home, is often a more complicated process than you might first expect. If you’re not careful, or if you don’t do your research ahead of time, there’s a lot that can go wrong. Knowing the most common blunders made by first time homeowners can help you to avoid these traps.

1. Not knowing how the buying process works. Read up on what to expect, from the moment you contact a Realtor until you get the keys to your new home. While things may still crop up unexpectedly, at least you’ll have a pretty good idea of what’s happening and why.

2. Not working with a Realtor. You need someone with experience to walk you through the process, work with the seller’s agent, and help you to find and buy the right home. A Realtor can help you to avoid many of the traps first time home owners might experience. He has the advice and experience you need to make the buying process a lot easier.

3. Not knowing your budget. Do the math before you get ready to buy. Talk to a lender and get pre-approved, even. If you can only afford $250,000, don’t even look at homes above that amount, unless your agent thinks that there is a very good chance that you might be able to negotiate a price within your budget.

4. Not looking at enough homes. First time homebuyers sometimes fall in love with the very first home they see. Which is great, as long as you still take the time to look at a few more homes, and really consider them before making your final choice. You need to see more than one home, for comparison purposes if nothing else.

5. Rushing through home viewings. When you go to see a home for the first time, don’t rush. Take your time to really inspect everything. Take pictures. Look for any potential problems, and ask a lot of questions. When you buy a home, you want to know what you’re buying before you close.

6. Not letting your Realtor know what you like or dislike. While you should still be objective, don’t feel like you need to love every home you see. Let your Realtor know what works for you and what doesn’t. That will help him, or her, to find homes that better suit your preferences.

7. Only viewing a home once. Even if the home is perfect (it probably isn’t), you should view it more than once. See it, go home and sleep on it, and then go look again a few days later. Bring an objective friend or two. There might be something that you missed the first time around.

8. Buying a home for its décor. Homes that are for sale usually look really nice. The owners have put careful thought into furniture arrangements and decorations, or maybe the home has been professionally staged. Either way, keep in mind that you are buying the house itself, not the stuff in it. Try to see past the current décor, even if it is stunning, and imagine your own belongings in the space.

9. Not hiring a home inspector. Before buying a home, spend the money to have a professional home inspector come to check it over. While it may look like there are no major problems, it is always better to be safe, and know for sure. It is not uncommon for a serious problem to be hidden just out of view. A home inspector can find those problems for you, before you agree to purchase the home.

10. Not knowing what home ownership costs. It’s more than the mortgage. Don’t forget taxes, water bills, and utilities, which may be substantially more than you were paying in a small apartment. When you are figuring out your budget, don’t forget these additional expenses when determining how much you can afford towards a monthly mortgage payment.

While keeping these common blunders in mind isn’t guaranteed to eliminate all problems that you might run into, being prepared will make it less likely that you’ll fall into these common first time buyer traps.

Greenwich Real Estate News - Mortgage Buy down Tips

When you are looking for a new home, there are many things to consider such as location, price, what type of home you want, neighbors, certain features and much more. One of the most important and sometimes difficult things though is figuring out how you will pay for the new home for you and your family. There are many financing options, but here are some tips and benefits of mortgage buy downs for you and your family to consider.

Ask your real estate agent for advice
Real estate agents have experience with all types of financial situations when it comes to buying and selling a home. They are a great resource of information and advice for financial options and choices.

Mortgage buy downs include principal and interest
This means that instead of your payment getting bigger as with some loan option, your amount that you owe actually gets smaller. This is nice for any buyer to hear and to see.

Payments are lower
Mortgage buy down payments are reduced and interest is figured out over a specific time period. The lowered interest rate is paid in cash by the buyer or seller of the home.

Thirty year fully amortized mortgage
This means that the interest rate interests 1 percent for the first three years and then has a fixed rate for the remaining mortgage.

Rates stay low for the first thirty-six months
For the first thirty-six months, rates stay low when a borrower’s income is expected to later increase. This is nice if you expect a raise later or move to a higher paying career because of a new degree.

Mortgage Buy Downs offer many benefits that other financial options may not. These tips and facts can help you and your family to figure out if mortgage buy downs are the best option for you when finding that new dream home. This way you can enjoy your future and have fewer worries and concerns later on.

Greenwich Real Estate News - Mortgages for People with Disabilities

If you have a disability then you know what it is like just to own a home of your very own. You have faced many challenges and rough patches, but now you have decided to buy a home of your own. You have found the right home for you, now all you have to do is figure out how to get a loan for it. You know this will be tricky and it does not matter, but you just do not know where to start. Here are some tips on getting mortgages for people with disabilities. This will help make the process a little easier for you and everyone involved.

Ask your Greenwich real estate agent for information
Real estate agents have experience selling and helping people buy homes from all types of situations. They will be a good resource in helping even a person with a disability find the information they need.

Contact the Department of Housing and Urban Development (HUD)
This department has loan and grant programs such as Rental Assistances programs and other programs that will help provide funding for a person with a disability to afford a home. There are also many housing voucher programs available to those with disabilities.

Find a housing counselor
These types of counselor can let you know what type of housing is available for you, what type of housing you can afford and also what would be best for you. These counselors and your agent may also help you to find a lender willing to work with your needs.

Look into Public Housing Assistance Programs
The Public Housing Association also offers programs that may help those with disabilities receive funding and or assistance for a home. Also, consider whether or not you qualify for a habitat for humanity home based on your disability and special needs.

Know your rights as a home owner
Knowing your rights as a home owner especially when you have a disability is very important. Learn about the Fair Housing Act and the Americans with disabilities Act and make sure you receive all the benefits possible.

These tips for getting mortgages and assistances for your home when you have a disability can help make the process easier for you and everyone involved. This way you can become more independent and take care of yourself and those you love. You can also enjoy your new home with fewer worries in the future.

Greenwich Real Estate News - Open House Tips for Home Buyers

If you are home buyer and going into someone else’s home to possibly purchase it, you may be unsure of what to do or say. After all, it is someone else’s home and you do not want to say or do the wrong thing and make the seller unsure about selling the home to you. You want to make a good impression upon the agent and also the owners of the home. Here are some open houses tips and advice to help make the process go smoothly for everyone involved.

Ask your Greenwich real estate agent for advice
Real estate agents have plenty of experience selling homes and even hosting open houses. They will be a great resource in offering advice and tips for going to an open house as a buyer.

Some open houses have engaging agents or sellers
These open houses will involve an agent and or the seller greeting you at the door and asking you questions as you walk through the home.

Some open houses have non-engaging agents or sellers
At these open houses, there is usually information on the counter for you to pick up and you are free to walk through the home at your own pace, maybe filling out a comment card on your way out.

Stopping by unannounced
If you happen to be in a neighborhood and admire a house from the street, just tell the agent that you may not buy but you just want to look around. They will usually let you go at your own pace and you can ask questions if you have them.

Visiting a home as a neighbor
If you are a neighbor or even in a neighborhood close by, it is still okay to see the home. Agents like to show off homes to receive feedback.

These tips and advice for home buyers when going to open houses can help make the situation more comfortable for both potential buyers and the sellers. This way everyone knows what to expect and can get something positive out of the experience, maybe even a new home.

Greenwich Real Estate News - Open House Tips for Sellers

If you are the seller, you want potential buyers to like your home. You want them to see your home as comfortable, livable and nice. It is important as a seller to make a positive impression on possible buyers when they come through your home for open houses. You want to make them feel welcome and at home, but you may be unsure of how to do. Here are some open house tips for you as the seller to help make the buyer feel like your home may be the right one for them.

Ask your Greenwich real estate agent for advice
Your real estate agent has much experience holding open houses and knowing what attracts buyers. They are a great resource of information for you as a seller.

Leave the house
The buyer may feel uncomfortable talking about the house with you around, so excusing yourself and telling them to have a look around is a good idea. That way they can be free to walk around and not be nervous about what they may say.

Adjust the temperature appropriately
If it is cold outside, adjust the temperature to a nice warm inviting temperature, if it is warm outside turn on the air conditioning, but be careful not to make it freezing. If buyers are too warm or too cold, they will leave sooner.

Create a mood
Put out candy or cookies so a buyer can have some, next to a card thanking them for their visit and maybe put cinnamon or some soft scent into some water but do not overpower it. Soft music in the background also helps too.

Turn up lighting
Turn on every light in the house to make it warm and inviting to a buyer and also let natural light in as well. This will make the buyer feel more comfortable and welcome.

These open houses tips for you as a seller will help make things easier for you as well as the possible buyer. Then if they like the home, they may have their agent leave a card or ask more questions later. Then you can be on your way to a sold home and a bright new future.

Greenwich Real Estate News - Tips to increase Traffic to your Home

Right now with the economy slowly recovering, there are many homes on the market trying to sell, so it is very important in this buyer’s market to get as much traffic into your home as you can. The more people you have seeing your home, the better chances you have for a possible buyer and some good offers. Here are some tips to increase traffic to your home and get you on your way to a sale. This way you can enjoy your new future with less to worry about.

Ask your Greenwich real estate agent for advice
Real estate agents have experience getting people to see a home and with spreading the word about a home that is for sale. They will be a great resource to help you increase traffic to your home to make a sale.

Use a Lockbox
These boxes allow an agent to show your home even when you are not home and they are safe and secure. An agent should call you first then go to show your home if you do not answer. This will increase the traffic by making the times that your home is being seen more flexible.

Increase your Advertising
Send direct mail to people in your area and surrounding areas that may be interested in your home. Also, try advertising in the newspaper, as well as online on websites such as craigslist or Google. Putting your home on video websites may help increase traffic as well.

Offer Buyer’s Prizes or Books for tours
Offering any possible buyer a prize or book just for touring your home, not only brings in traffic because they want the prize, but while they are there, they just may see something they like, leading to a possible sale.

Offer a lunch during the tour
This way the buyers will stay longer while they eat and agents may be able to answer more questions that a short tour of the home might miss. Plus, with this economy right now, offering a lunch would bring people to your home for sure.

With these tips to help increase the traffic to your home, it should be easier for you to attract plenty of possible buyers, leading to a sale and a reasonable offer. This way the buyer gets a new home that they love and you and your family get to enjoy your new future.

Greenwich Real Estate News - Should You Buy a Fixer-Upper?

Americans love a good deal. We also, if the popularity of HGTV and DIY cable channels are any indication, love the idea of being able to fix up our homes with minimal professional help. Buying a fixer-upper can be a great way to save a little money, and have the chance to make a neglected home into your dream home. But it’s not for everyone. Before you purchase a fixer-upper, here are a few things to keep in mind.

The first thing to consider is how fixable the home really is. Some things (such as location or the size of the lot) can’t be changed. Other things, such as foundation or major electrical problems, can be fixed, but they are very costly and don’t offer a lot of improvement in the resale value. An ideal fixer-upper doesn’t require thousands of dollars worth of work that will go largely unnoticeable; look for a home that can be improved with a few coats of paint, a few new appliances, and some drywall repair.

What will the total cost of the home be? This is an often over-looked aspect of buying a fixer-upper; by the time you buy the home and do any renovations it requires, you may very well have spent considerably more than market value for the home. If the home is your dream home, and you don’t plan on selling for a very long time, that might not be a concern for you. However, if you are hoping to regain the cost of any repairs, and then make a profit on top of that, you need to consider what the home may actually sell for.

You also need to consider how you will pay for any renovations your fixer-upper needs. Depending on the current value of the home, and the projected value once work has been completed, you may be able to get a second loan, or a larger mortgage, to cover a majority of the expenses. Eventually, after you have owned the home for a while, or after you have already made several improvements on your own, you may qualify for a home equity loan. There are also grants and government loans to assist in home repairs. Regardless of what you choose, you will still need to pay for a percentage of the work on your own. Make sure that you have money set aside for the most pressing repairs before you buy.

If you’re an experienced do-it-yourselfer with a lot of free time on your hands, buying a fixer-upper might make a lot of sense, especially if you have a team of friends and family members who can pitch in to get the work done faster. You can save tens of thousands of dollars by doing the work yourself. However, if you’ve never hammered a nail in your life, or if you don’t have a decent knowledge of how to use power tools, this may not be the best time to learn. Making a mistake can be very costly; not only are you paying for the materials to do the job yourself the first time, you then have to pay for a professional to come in and fix your mistake.

That’s not to say that you shouldn’t be able to do some of the work yourself. Painting is time consuming, but it doesn’t take a lot of skill. And there are several other smaller tasks that you could probably figure out how to do on your own. Larger renovations and repairs, however, should be left to someone with experience. Make sure you can afford to hire a team of professional contractors before you buy the home.

Buying a fixer-upper is an investment, maybe more so than a regular home purchase. In most cases, you’ll get back what you put into it. If you know that you can take on the special challenges of purchasing a fixer-upper home, it can be one of the best purchases you’ll ever make.

Have you, or someone you know, owned a fixer-upper? What was your (or their) experience?

Greenwich Real Estate News - Buying Brand New Homes

If you have decided that you and your family are ready for a new home, there is much to consider, including what you can afford, what kind of home you want, location, costs and more. Well, if you have thought about all of this and decided you would like to try looking at brand new homes to buy there are some things to still consider first. Here are some tips to buying brand new homes to help make the process easier and get your dream faster.

Ask your Greenwich real estate agent for advice
Your real estate agent has experience with the market for all kinds of homes brand new or older. They will be able to provide you with the resources you need to decide if a brand new home is right for you.

Look into the Builder’s Reputation
Ask neighbors and also your agent about the builder. Also, look at the quality of the construction in surrounding homes and check into who the builder typically sells to. All of this will make a difference in the quality of your new home.

Do not always use the builder’s lender
Shopping around for a lender that is just right for you and will help you out with all your needs is a good idea. Atomically using the builder’s lender may not offer you the best deal and they may not have your best interests in mind.

Obtain legal advice
Talking to a real estate lawyer may be good idea before buying a brand new home. This way you know exactly what you will be getting yourself into and know about any hidden costs or fees included.

Hire a home inspector
As with any other home purchase, it is very important to hire your own home inspector. They will help you make sure everything is of good quality and ready to live in. Then you can always have builders fix any problems.

These entire brand new home buying tips will help you and your family decide if a brand new home is just right for you. Then this will help you get the process started. This way you can move to your new home with fewer worries and just enjoy the future.

Greenwich Real Estate News - Carry Back Mortgages

If you are the buyer of a new home but have only reasonably good credit or live in a place where interest rates for loans are high, you may be wondering what to do. Carry Back Mortgages might be a good option for you and your family if the seller agrees. These mortgages are where the seller takes care of the financing for the buyer instead of a bank. They may finance all or part of the purchase price. This may be a good choice when money is tight. Here is some advice and tips about carry back mortgages to help you get started.

Ask your Greenwich real estate agent for advice
Real estate agents have experience with all different types of financing and may be able to help you decide if a carry back mortgage option is best for you.

Sellers may be more likely to use this option because of financial gain
Sellers may be likely to help out a buyer with this type of mortgage because they will have a monthly income, it gives them a better rate of return, and they may receive a higher sales price.

Buyers do not have to worry about being denied by a bank
With this type of financing, you just have to reach an agreement with the seller and follow through with that agreement, and do not have to worry about high interest rates or credit problems.

Payments may be lower with a more reasonable interest rate
If you are a buyer, this is good because you may get a more reasonable interest rate and more reasonable payment schedule than you would with a bank or other type of mortgage. This means less hassle.

The closing process may be faster
If the financing is worked out between the buyer and selling than the closing of the house may be faster because there will not be another lender involved. This will be nice for everyone involved.

Carry back mortgage options offer benefits to both a buyer and a seller, making it a win win situation if everything is agreed upon. Then the buyer can move into to their new home worry free and the seller can move on to their new future with fewer worries as well.