davenport condos for sale – Page 10

Turn A Vacation Rental Into Your Second Home.

Posted on December 8, 2014

Turn a vacation rental into a second home!

Vacation home sales are on the rise, with many people buying for a vacation home to use now and retire to later.

Second home buyers tend to be in their 40s and 50s, are still working, have children who are starting their own families and no obligations to care for aging parents. They are using their vacation home as a meeting place to gather everyone during holidays or other significant family holidays.

When the home isn’t being used, it generates rental income. In some locations, the rental fees can completely cover the mortgage, taxes and fees of homeownership, giving you a vacation home for free that can eventually become your second home in retirement.

Purchasing a vacation home where you’d eventually like to retire allows you to establish community ties for a smooth transition into retirement later. It’s also a great trial run. It gives you a glimpse into where you might want to spend your golden years before the time arrives and you have to make a firm commitment.

There are also financial benefits to owning a second home. First is the appreciation that will happen over time, especially if you purchase in a popular resort area. However even modest appreciation over time is acceptable given all the benefits of second home ownership.

Mel Foster Co.’s relocation division has connections to help you find a second home anywhere in the world. Contact a relocation specialist at 800-367-1134.

An Older Home As A Green Alternative.

Posted on November 9, 2014

Call it recycling on a grand scale. Homebuyers who want their purchase to be more environmentally friendly are turning to older homes instead of building new. In fact, architect Carl Elefante coined the phrase, “the greenest building is the one that is already built.” What he meant by that is that environmental resources that would be used to build a building’s replacement are often times spared by restoring or repurposing an existing structure.

Did you know that it can take up to 80 years for a new, energy-efficient building to overcome the energy and climate change impacts caused during the construction process? Building reuse offers significant environmental savings when compared to the energy consumption of demolition and new construction.

Older buildings constructed prior to reliance on mechanical heating, cooling and lighting systems utilize what nature offers as part of their design. This can help reduce your energy use, helping you save on heating and cooling your home.

Go green and consider purchasing an older home that just needs a little TLC. Use the option to search by Year Built by clicking here to find a home you can recycle.

Put Out The Welcome Mat For Fall.

Posted on October 16, 2014

The number one tip for giving your home great curb appeal in the fall is to keep your lawn free of leaves. Buyers may drive right past your home if they feel like raking leaves would be too much work for them if they bought your home. Keep up with this chore to give your home a tidy and maintenance free look.

Cooler temperatures also mean it’s time to replace your tired annuals with colorful mums or kale. Clear out your planting beds of summer foliage and drop some blooms into your window box or porch planter. Remember that you still need to water these plants to keep them looking fresh.

If you have already moved out or can’t maintain plant watering, you can brighten your porch with a grouping of three large pumpkins. Want them to last even longer? Don’t carve your pumpkins for Halloween. You can keep an uncarved pumpkin on your porch through Thanksgiving and get two holidays out of one purchase!

Even though it’s Halloween time, real spider webs on your porch need to be cleared away regularly. No need to scare away buyers with frightful spider webs.

Need ideas for keeping your home open house ready for the holidays? Click here for simple tips.

Which Loan Is Right For Me?

Posted on October 3, 2014

It’s important to select the right type of mortgage for your financial situation, but understanding your options can be difficult. Your Mel Foster Co. agent <link to find an agent> is your resource for proving information so you are able to make a knowledgeable decision regarding a mortgage. This quick list explains the top three most popular loan types.

1. Fixed-interest Mortgage

A fixed-interest mortgage is a type of loan that has a set interest rate. Most fixed mortgages are usually 10, 15, 20, or 30 years. The most common length of time is 30 years, as it provides the lowest monthly payment for homeowners. Keep in mind that most of the first few years of the payment are heavily focused on the interest that will be paid off, and very little actually goes towards the principal. You can determine your monthly payment for a fixed-interest mortgage with the Mel Foster Co. monthly payment calculator.

2. Adjustable-rate Mortgage

An adjustable-rate mortgage or ARM is a loan with a variable interest rate. The interest rate will change after a designated period of time, determined by the lender. As a borrower, you may benefit if the interest rate is lowered, but you will also be exposed to potentially higher interest rates. The interest rate will remain steady for an agreed upon time, and won’t change until the next adjustment period. These types of mortgages are easier to obtain in situations when a fixed-interest mortgage isn’t an option.

3. Interest-only Loan

An interest-only loan focuses on paying only the interest first. An example would be a 5-year fixed-30 mortgage. This means that for the first five years, you are only paying the interest, and not contributing any money towards the principal. The interest rate is fixed, but may change after five years. Once the five years is up, you begin to pay interest along with the principal cost. This will increase your payments significantly, even if the interest rate doesn’t change. This option is meant for someone who believes that they will earn more money in the future, or currently has their money tied up somewhere else. Just always remember to save your money for after the initial five years.

Staging Secrets To Get Top Dollar Offers.

Posted on September 22, 2014

Most sellers have tunnel vision when it comes to getting their home ready for sale. It’s important to view your home as a potential buyer would. That paint chip you hardly notice or that collection of family photos running all the way up your staircase will jump out as negatives to buyers. To get top dollar, focus on making your home appealing to potential buyers, instead of appealing to yourself.

Start by removing any clutter around the house. This will help buyers envision themselves living in your home. Although less is more, it is still important to leave the essentials in your rooms. This will give a frame of reference for how much space really is in the room and how furniture can be placed. If the room is completely empty, it may appear to be smaller than it really is. Also, remove anything that is personal in the house such as family photos, religious symbols and everything on the refrigerator.

Next you should focus on all of the things you may have ignored for the past few months. Does your front door have some paint chips? How about that leaky faucet? Quick fixes can get you higher offers.

If you have walls that are painted bright colors, or may come off as taste-specific, consider getting a fresh can of a neutral color and diffuse the bold walls. Although your child may love her fuchsia walls, someone who is just moving in would most likely appreciate a more neutral color. Taking the time to paint the room is an important step when trying to stage the home because it lets someone else see a blank canvas that they can paint their dreams on.

Mel Foster Co. has several agents who are certified in the staging of your property to attract potential buyers. Accredited Staging Professionals^® (ASP) are highly skilled and certified in creating just the right atmosphere that will appeal to all five senses of every buyer.

How To Find A Family-Friendly Neighborhood.

Posted on September 10, 2014

It’s time to find a neighborhood full of families, to give your kids opportunities to build friendships and memories. Your best resource for locating these family-friendly neighborhoods is your agent.

If you’ve located a possible neighborhood, and wonder if there are lots of kids, take a look around. Look for swing sets, bicycles, basketball hoops or chalk drawings on the driveways or sidewalks. These are signs of a family-friendly neighborhood.

Also check the surrounding area for parks, playgrounds or pools. These amenities are an indication that families are most likely close by. These locations may also boost your sense of community if you frequent them with other families from your neighborhood.

Once you’ve settled on a neighborhood, you’ll need to know what homes are for sale in the area. Search by address or define an area on an interactive map on the Mel Foster Co. website. Another great search tool is the Mel Foster Co. app. It’s free and you simply launch the app in the neighborhood you desire and all homes for sale pop up on your screen with the Foster Finder. The app shows all homes for sale, not just Mel Foster Co. listings.

Looking for a family friendly neighborhood?

Why You Need A Real Estate Guru.

Posted on August 18, 2014

Are you in the market to buy or sell a home? It is important that you consider working with a licensed Real Estate Professional in order to save yourself time, money, and hassle. There can be a lot of confusion and guesswork when you are out there navigating the market on your own. Here are a few reasons why it’s in your best interest to work with a Real Estate Professional.

Negotiations

From the appraiser, to the home inspector, to the buyer, there are nearly a dozen people that you will have to answer to while selling your home. Let an agent do this busywork for you. Negotiating effectively can mean thousands more saved or earned.

Paperwork

Let an agent with experience navigate and prepare the documents needed when closing on a transaction. Missing something here or there can cost you time and money. Also, each state has different regulations surrounding the purchase or sale of a home. A Real Estate Professional has the experience needed to guide you through.

What Is Your Home Worth?

Pricing your home correctly will attract the right buyer and make sure it isn’t on the market for too long. However, you need the eyes of someone not emotionally attached to your home, to ensure the true value is assessed. The National Association of REALTORS found that, “the typical FSBO home sold for $184,000 compared to $230,000 among agent-assisted home sales.”

3 Tips To Consider When Buying A Home.

Posted on August 1, 2014

Tip #1: Keep Your Money Where It Is.

One thing that you want to avoid before purchasing a new home is making any other large purchases. You don’t want anything to negatively impact your credit score before buying a home. This includes opening new credit cards, or taking on new debt. Lenders want to feel confident in your ability to be financially responsible, especially when they’re considering you for a loan. In short, don’t take any risks with your credit score if you’re planning on investing in a new home.

Tip #2: Bigger Isn’t Always Better.

When you’re buying a house, you may gravitate towards the biggest home on the block. It’s important to consider what your potential resale value will look like. If you have the most expensive home on the block, it will only go up in value as much as the homes surrounding it. The largest house only appeals to a few people. If you’re planning on reselling, you want to have the largest number of potential buyers possible. Instead of searching for the best house on the block, you should search for the house that best fits your needs.

Tip #3: Survey the Neighborhood.

People often fall in love with their homes, but they often fail to consider the neighborhood. If you’re planning on having children, you need to determine what school district the home is in. Even if you aren’t planning on children, you still should research what schools are nearby because it may impact the resale value of the home. It’s also not a bad idea to try your morning commute from the house, to determine if that would impact your decision. Don’t be afraid to drive through the neighborhood during different times of the day to really get a lay of the land.

Exterior Home Shot — 3 Tips When Buying a House

Space Saving Ideas For Your Home.

Posted on July 9, 2014

Making your home interior more efficient and attractive on a day-to-day basis doesn’t need to be an expensive or time-consuming endeavor. With the summer months upon us, keeping things orderly, yet functional, will help you and your busy family stay on top of things this season. Consider these space saving ideas and how they might just make your life a little easier this summer.

Pull Out Drawers And Cabinets

Installing a set of pull out bins under a stairwell in the entryway, or a pull out cabinet in the short hallway between rooms, can mean tons of extra storage space for your family. Consider getting pool toys out of sight and out of mind with a pull out closet in the garage.

Hidden Outlets

Are hairdryers and curling irons monopolizing all of your bathroom counter space? Consider installing outlets in the drawers those appliances are meant to be stored in. Never having to remove them from their hiding spot means more space for other things.

Turn Bunk Beds Into Murphy Beds

Need more floor space, or wishing you had a playroom for the kids? Installing Murphy Beds (the beds that pull down from a recess in the wall) could be just what you need. Suddenly there are feet and feet of extra floor space. So much more room for activities!

You Can’t Go Wrong With An Extra Cabinet

Something as simple as a small extra cabinet in the kitchen to store cleaning supplies can make your life a whole lot easier. Suddenly there is free space under the sink and a small extra storage space. Also, a small cabinet with a high shelf means keeping dangerous cleaning products out of kids’ reach.

Renting vs. Owning

Posted on April 30, 2014

The decision to rent or buy a home depends on a number of factors. The speed at which home prices and rents rise and the length of time you anticipate remaining in your home or rental are key considerations. Costs are also something to strongly consider when making the decision to rent or buy. Read about the four types of costs you should take into consideration and what they mean.

Purchase costs

When buying a home, these costs are the costs you incur when closing. These include the down payment and closing costs, which can go toward the principle balance you owe on your home. When renting, these costs can be the deposit and/or broker’s fees, which you may or may not ever see again.

Yearly costs

As a homeowner, these include mortgage payments, association fees, renovations, maintenance, taxes and insurance. For a renter, these include rent and insurance. Although the yearly costs of homeownership can be substantially higher, these costs could be considered an investment, as the money you put in to your home could potentially be returned to you, or even grow, upon a sale.

Lost opportunity costs

For the homeowner, these are tracked for the yearly costs and the initial purchase costs. The latter can give the homeowner insight into how much could have been made had the down payment been invested instead of used towards the purchase of the home.

Selling costs

For the homeowner, these costs are incurred once the closing process begins. This includes fees and brokers’ commissions, as well as the remaining principal balance still owed. For the renter, these do not come into play, although there is no guarantee that all earnest deposit money will be returned.