geneseo new construction homes for sale

Getting Kids Involved In Your Home Search.

Posted on May 12, 2015

Children are becoming more and more involved in the search for real estate, especially as children wait longer to leave the nest and complete their education. Depending on the age of your children, they can use technology to find homes for sale or even be an integral part of determining how much house you can afford.

Mel Foster Co. lists all home for sale, from every listing company, at www.melfosterco.com. Your kids can help you filter by price, bedrooms and other options that are important to you.

The free Mel Foster Co. app can be downloaded to find all homes for sale around a particular location. Once you have the app downloaded to your phone or tablet, your tech-savvy child can launch the Foster Finder to activate your device’s camera and GPS to identify listings while you drive. It’s a fun way to get kids involved on the drive home from school or a friend’s house. And having a helper while you drive is the safe way to search on the go.

Children of all ages can benefit from the financial lessons that go along with buying a house. Searching within a budget is an easy lesson for younger children while budgeting for expenses like homeowners insurance, taxes, inspections and closing costs is a valuable exercise for older children who may soon be buying their first home.

Make your home search a family affair and involve your kids at an age appropriate level.

Mel Foster Co. Receives Relocation Recognition

Posted on March 14, 2015

Lynsey Engels, President, Real Estate Brokerage at Mel Foster Co. Inc. is pleased to announce that their Relocation Division, lead by Deb Boland, has been recognized as a recipient for the 2014 Global Alliance Club by Leading Real Estate Companies of the World®.

Leading Real Estate Companies of the World® is a global network of over 500 premier real estate firms. Leading RE is comprised of select independent real estate companies who set the standard of quality service, while generating a highest volume of referral, relocation, and real estate business opportunities for its members.

Mel Foster Co.’s Relocation Department is one of 37 real estate companies to receive this honor. In order to be a part of this prestigious club, at least one referral must be sent and closed across country borders. The referral was to Alberta, Canada, therefore Mel Foster Co. can make it happen anywhere.

Not So Fast…Five Things To Check Before Writing An Offer.

Posted on March 11, 2015

You’re in love. The house seems perfect and you almost don’t want to know if it’s not. But before you blindly make an offer, be sure to check these five things.

Assess the grounds

Even if it’s cold and snowy, do a thorough walk around of the yard checking for drainage issues, major concrete shifts or cracks in the foundation.

Open every door and window

Check the locks, evaluate the operation and make sure every door and window opens and closes properly. Also check for any cracked glass that may be hidden behind window treatments.

Turn on every appliance

Be sure to check the stove, refrigerator and dishwasher in the kitchen and don’t forget the washer and dryer if you are asking for those items to be left for you. Also run both the furnace and central air to be sure the systems are functioning properly.

Check the water

Turn on each faucet and check for water pressure and leaks. Also flush every toilet. Be sure to check outdoor faucets.

Turn on the lights

Every interior and exterior light should be turned on. Also test the speed of ceiling fans and check the fan in the bathroom and the vent hood above the stove. If a light is not functioning, determine if it’s a burned out bulb or an electrical issue.

Doing this quick checklist will uncover major issues, before you write up an offer or schedule a home inspection. For added peace of mind after you move in, consider purchasing a Mel Foster Co. Advantage Home Warranty Plan.

For more information on The Mel Foster Co. Advantage Home Warranty Plan, contact one of our experienced professionals.

Top Three Tips For First Time Buyers.

Posted on January 31, 2015

Buying your first home is an exciting adventure. However, there’s a lot of your money on the line, so you’d better be prepared. Avoiding mistakes and getting guidance from seasoned professionals will ensure the process goes smoothly. Here are a few tips to help you make the most of your time and efforts when starting the home buying process.

Know What You Want and Do Your Research

This is one of the most important steps. What are your must-haves in your new home? What are you willing to compromise on? The more prepared you are before you start to look at properties, the easier it will be to pinpoint the perfect home. Also, with the power of the Internet, you have a wealth of information at your fingertips. Focus your search on the neighborhoods you are interested in and learn as much as you can about the surrounding area. Use the interactive search map to zoom in on neighbors and see what’s for sale.

Get Preapproved

Talking to the bank prior to getting a mortgage will give you a leg up when you start looking at homes. Your lender will be able to assess your finances and let you know how much house you can afford, and give you an idea of what percentage rates you might expect to receive on your loan. Making an offer with a bank’s preapproval may give you the upper hand if it’s a competitive offer situation.

Work with a REALTOR^®

Your agent can be your right hand man or woman when it comes time to start your search. Your agent can help you narrow down your options so you aren’t wasting your time with homes that don’t fit your needs. Their job is to help you find the home you want, and help you negotiate a fair asking price. Your agent can also help you navigate the paperwork, which can be overwhelming for first time buyers. Click here to find a Mel Foster Co. agent to start your home search.

Real Estate: A Look Five Years Into the Future

Posted on June 14, 2014

After the historic bursting of the proverbial real estate bubble brought the U.S. economy crumbling, the U.S. housing market has been on the rebound in recent years. Several factors come into play when forecasting the real estate market’s growth and change in the next five years

Home Values and Appreciation

In a survey done by Pulsenomics, the annual appreciation will be 3.94% over the next 5 years and the cumulative appreciation will be 19.7% by 2018. The survey also found that home values will appreciate by 4.5% in 2014.

Home Prices

Studies show that in some select markets, such as San Francisco, home prices may rise as much as 3% over the next 5 years. However, due to investors selling off their inventory, prices overall are forecasted to drop slightly over the same time period.

Mortgage Rates

According to CBS’s MoneyWatch, mortgage rates may be likely to rise, however a mortgage will be easier to secure for an average homebuyer. The rising rates will force lenders to loosen their lending standards. There was also a new federal rule that came into play in early January affecting mortgage standards.

What will real estate be like in five years?

The National Association of Realtors classified 2013 as a low inventory year, however it is projected that available home numbers have rebounded, allowing buyers a better selection and opportunity. This is only going to improve over the next five years according to current rising trends.

Fading Foreclosures

The increase in inventory will give way to a decrease in foreclosures. Between November 2011 and November 2012, when inventory was at a high point, mortgage delinquency rates fell from 7.83% to 7.12%. It is projected that in the next five years those rates will continue to decline.

Five Tips For Selecting The Best Contractor

Posted on March 10, 2014

What are you looking for in a Contractor? — Selecting a Contractor

Home improvement projects aren’t cheap. They are even more costly if you choose a bad contractor. These tips will help you discern the quality of the work your prospective contractor provides and protect your interests during the project.

Ask your friends for referrals

Skip the phone book and go right to the friends you trust for their opinions. Even if they tell you about a bad experience or give you the names of contractors to avoid, this is great information to have.

Make a list of the work you need done

You don’t want a contractor that is great at building decks to be doing your major kitchen remodel. Determine the scope of the work you need done, so as you interview prospective contractors, you can line up their expertise with your needs.

Look at the contractor’s past jobs

Every reputable contractor should provide you with a list of references you can call, or even visit, to see the quality of the work done. Take advantage of the opportunity to see the work for yourself.

Get it in writing

Once you’ve selected your contractor, get a contract written up and thoroughly review it with your contractor before signing the agreement for work.

Be money smart

Be weary of a contractor who asks for more than 10% down. If your contractor can’t start work for several weeks, never give more than a $1,000 deposit.

Once work begins, pay your contractor in increments of 10% as project goals are met. Arrange for the final payment 30 days after completion of the job.

5 Hot Trends In New Construction

Posted on August 22, 2013

You’ve decided to build for the freedom to select the amenities and finishes that match your lifestyle and tastes. Here’s a list of five trends to discuss with your builder.

1. Smart House
Automating systems like heating, AC, security and lights can save you money. You can even control systems when you aren’t home by using your iphone.

2. Media Madness
Media rooms that only serve one function are becoming a thing of the past as home sizes shrink. Media still plays a huge role for many when deciding on a home layout, but the media rooms now have more comfortable seating, tables and good lighting. They are intended for more frequent usage than movie theater style rooms of the past.

3. Bye Bye Bulk
Smaller new homes call for smaller furniture pieces, including built ins. Consider swapping out a heavy wall of cabinets for floating shelves. Less bulky furniture also allows more natural light in.

4. Go Low
Check out more energy efficient toilets, faucets and appliances. It’s better for your utility bill and the environment.

5. Reclaim It
Go on the hunt for reclaimed materials that can be integrated into your home’s design. Look for rustic wood, light fixtures or cabinet pulls that will give your home a one of a kind feel.