Thursday, August 22, 2013
Wednesday, August 21, 2013
Projected home price appreciation
It is a good time to buy. Home mortgage interest rates are still low and home prices are rising. Residential real estate is a good investment. Note: Home price percentage appreciation in Hampton Roads is higher than the graphics National Average. (Graphic Courtesy of KCM BLOG)
Tuesday, August 20, 2013
Buying a home? First check for these costly problems
NORFOLK, VA, Aug 20, 2013—Buying a home is a hefty task, and with so many
things to consider (do I need that extra bedroom? How important is a big
yard?), it is easy to get a little lost in the process. There is nothing worse
than purchasing a home only to find out you need to sink thousands of
unexpected dollars into your new place, all because you weren't sure what to
look for.
Below are a few tips to make sure you're focusing on the right home features, so you can enjoy your new home AND still be able to afford that new dining room set.
Hire a home inspector. “Getting a home inspected is the No. 1 way you can avoid surprises after closing,” says Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty. However, it's still important to know what to look for on your own, as it can save you precious time and energy expenditure. For instance, if you know you can't afford a new foundation, then you can skip over making offers on homes that are clearly in need.
Check the basement. After you ooh and ah over the walk-in closets, head on down to the basement. Check out the plumbing, examine building materials, and check out insulation. “Can you see daylight peeking through cracks in the walls? That spells high heating bills, as the home may have some insulation issues,” suggests Eisenberg. Basements are not a big issue in Hampton Roads, but some older homes, especially in Ghent, have them.
Scope out the foundation. “Big cracks or corrosion can spell big trouble down the line,” notes Eisenberg. “Foundation is an expensive repair, so make sure the home is sound.”
Look for water damage. Check for discoloration and rings around pipes, windows and doors, as well as kitchen and bathroom fixtures.
Eye the roof. “You definitely aren't going to climb up to the roof while visiting a potential home, but you can scope it from the outside,” says Eisenberg. Can you see any visible missing tiles or discoloration? “And feel free to ask the agent when the roof was last replaced.”
For more information on buying a home, please contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, leisenberg@prudentialtownerealty.com, (757) 572-7244, or www.LouisEisenberg.com
Below are a few tips to make sure you're focusing on the right home features, so you can enjoy your new home AND still be able to afford that new dining room set.
Hire a home inspector. “Getting a home inspected is the No. 1 way you can avoid surprises after closing,” says Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty. However, it's still important to know what to look for on your own, as it can save you precious time and energy expenditure. For instance, if you know you can't afford a new foundation, then you can skip over making offers on homes that are clearly in need.
Check the basement. After you ooh and ah over the walk-in closets, head on down to the basement. Check out the plumbing, examine building materials, and check out insulation. “Can you see daylight peeking through cracks in the walls? That spells high heating bills, as the home may have some insulation issues,” suggests Eisenberg. Basements are not a big issue in Hampton Roads, but some older homes, especially in Ghent, have them.
Scope out the foundation. “Big cracks or corrosion can spell big trouble down the line,” notes Eisenberg. “Foundation is an expensive repair, so make sure the home is sound.”
Look for water damage. Check for discoloration and rings around pipes, windows and doors, as well as kitchen and bathroom fixtures.
Eye the roof. “You definitely aren't going to climb up to the roof while visiting a potential home, but you can scope it from the outside,” says Eisenberg. Can you see any visible missing tiles or discoloration? “And feel free to ask the agent when the roof was last replaced.”
For more information on buying a home, please contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23510, leisenberg@prudentialtownerealty.com, (757) 572-7244, or www.LouisEisenberg.com
Monday, August 19, 2013
Friday, August 16, 2013
Thursday, August 15, 2013
Selling on a budget? The best low cost home renovations
NORFOLK, VA, Aug 15, 2013—Selling your home usually requires some staging maintenance. However, for those on a budget, there are still some changes you can make to help your home sell faster while keeping money in the bank. Below, Louis Eisenberg, Associate Broker REALTOR ABR SFR of Prudential Towne Realty provides us with a few ideas.
1. Painting – Whether you need to give the interior or exterior—or both—of your home a facelift, painting is the cheapest and easiest ways to keep your home looking fresh and well-maintained. With a bit of patience, you can even do the interior paint job yourself. “I would hire a professional for the exterior,” recommends Eisenberg.
2. Landscaping - “A messy exterior automatically sends the wrong message to buyers,” says Eisenberg. Keep the grass cut, the garden happy, and tools or toys out of sight. “If your budget allows, plant a few new trees or add some outdoor furniture so buyers can envision themselves spending time in your yard.
3. Accents – Linens, rugs, curtains, furniture covers – all of these can be quickly refreshed for a relatively low cost, and they really can amp your home's appeal. “Even a few throw pillows tailored to the color scheme of the season you're selling can make an interior more inviting,” notes Eisenberg.
4. Energy efficient updates - “If you can afford it, get a few energy efficient features added to your home. They are a major selling point right now,” says Eisenberg. Budget depending, you can have new windows installed, or just an energy efficient washer and dryer that you can offer as an inclusion with your sale.
For more information on selling you home, please contact Louis Eisenberg, Prudential Towne Realty, 109 E. Main Street, Norfolk, VA 23505, leisenberg@prudentialtownerealty.com, (757) 572-7244, or www.LouisEisenberg.com .
Wednesday, August 14, 2013
Expected 4.7% average annual home price appreciation through 2017
A short history of home price appreciation in the United States
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