Posts with tag 'Home value'

Just like any industry, real estate is full of terms to which many folks haven't been exposed. When searching for a new home, you might run across a property for sale that is described as a "short sale" or "foreclosure."

Sometimes you get lucky, but often these homes aren't in the best shape. These types of sales usually accompany some sort of financial hardship on the part of the seller, who hasn't necessarily had the money to spend on maintenance and upgrades.

Still, short sales and foreclosures can be excellent opportunities, particularly for investors who intend to rehab them and then sell or rent them, or buyers who want to take on fixer-uppers for themselves. Either way, it's important to understand the difference between the two before you buy.

Short sale

A shor...

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Even with home prices rising slightly in some areas around Roanoke, there remains a solid demand among buyers to purchase second properties. I'm a big fan of second homes if the purchase makes sense for you. Because no matter how you intend to use the property, the right second home can be an excellent investment in your financial future.

Before you jump in, let's talk about some of things you should do to ensure you have a clear idea of your options.

Determine the purpose of the property

Very often, I'm working with clients from out of the area who are looking for a retirement (or vacation-to-retirement) home. Perhaps they have family in the area and want to get back this way to be closer to children and grandchildren. In fact, it's sometimes the children who contact me first.

In these...

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I work with a lot of homes that have been rehabbed before going on the market, so I'm always interested in home improvements and the effect they have on a home's value.

The National Association of REALTORS put out a Remodeling Impact Report. The report looks at the typical cost of remodeling projects as estimated by members of the National Association of the Remodeling Industry. It also reports what Realtors are seeing in the market regarding home improvements. 

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With fall settling in all around the Roanoke Valley and winter just on the horizon, many potential buyers are asking themselves whether they should buy now or wait until the new year. After all, the next couple of months are a busy time for everyone. Adding a home purchase on top of it all might be more than you want to take on.

Even so, there are good reasons to stay in the market and buy a house before the end of the year. So before you hang up your house-hunting hat, consider these advantages to buying now.

Mortgage rates are still low

After a surge in mortgage rates in late 2016/early 2017, rates on 30-year fixed mortgages largely trended downward until September. Now, they've started to inch upward again, as this graphic from lender FreddieMac shows....

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Gutters and downspouts are the type of home infrastructure that you don't think about until you've got a problem. When there is a problem, it can be expensive and complicated.

Let's give gutters and downspouts their due, after all, because they've got an important job: To handle all the water runoff from our roofs and route it to proper drainage away from the house. Gutters that are in good working order protect your home from costly water damage. Without high-quality, properly installed gutters and downspouts, you could be funneling water right to your foundation, which is no good.

When it comes time to replace your gutters and downspouts, you've got to choose the shape and material that will work best for your situation. To help you decide, I'm sharing this Buyer's Guide to Gutters & Downspouts created by Aerotech Gutter Service.

Oh, and when you do decide tackle your gutt...

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