So You Are Moving… Make sure you keep these important documents with you!

One of the worse things that can happen to you is to watch the moving truck pull away from your house and realize they packed all your important documents you meant to pull together before they arrived, and forgot!

Here is a short list of items you should set aside before the movers arrive. And don’t let them pack them!!

Passports and Visas (even if you aren’t moving out of the country)

Driver’s Licenses

Professional licenses, skill qualifications,  and work permits

Birth certificates (originals or copies)

Marriage or Divorce Certificates

Vaccination Records

If moving with a pet, take their vaccination records as well. (It wouldn’t hurt to get a copy of the pet’s veterinary records to provide to their new doctor)

Veteran Records (DD214, Health, Retirement, etc.)

Social Security Numbers/Cards

Car Title(s) (If you are moving your vehicle to another state, you will need it for registration or ownership transfer)

Insurance Policies (health, auto and home)

An up-to-date Address Book (it is important to notify all relevant service providers, persons and institutions that you are changing address – post office, cable and internet provider, insurance company, bank, school, local authorities, magazines, newspapers, club memberships, electric/water/gas/phone company and other utility companies.)

School Records (if you are enrolling children in a new school – or college transcripts if you or a child are transferring to a new one)

Financial records, to include bank statements, receipts, account information, credit cards, saving statements, tax documents, and loan documents

Manuals, contracts and warranties for any household appliances you may be moving with you. If some of the items are dismantled, manuals may be needed when you try to reassemble them. Also, without a warranty you cannot obtain any kind of service in case any of household items get broken.

A list of all your current service providers, persons and institutions that you will need to send a change of address to. Also, having those account numbers handy may save you money when setting up service at your new address.

Take your moving-related documents with you, such as the moving estimate and quote (binding or non-binding estimate), bill of lading – a contract between the moving company, your customer receipts (that might be used for tax deductions when the move is completed), moving insurance, and inventory list.

Remember as moving day draws near, there are going to be dozens of things you will need to do and a lot of unplanned for activities (friends and colleagues wanting to take you out for coffees, lunches, dinners and such), so plan as far ahead as possible and get your special box together with all the documents listed above. Shred any documents with personal information on them that you are not keeping. Clear out your home office as much as possible.

 

Is Buying a Foreclosure a Good Idea for You?

Foreclosures occur when a home owner has fallen into arrears on their mortgage payments and the bank is taking over. Banks don’t really like taking over. They prefer to remain in the money lending business, not the home ownership business. If you are falling into arrears, or anticipate the possibility of not being able to meet future payments due to some change in your financial status, reach out the your lender immediately. Don’t  wait until you are months in arrears. I don’t know of any that won’t work with you to come up with a solution that will keep your credit in good shape and keep your payments coming until you can get back on your feet. But that isn’t the topic of today’s blog. Today we will discuss the stages of foreclosure and whether or not buying a foreclosure is a good idea for you. The pros and cons of buying a home involved in foreclosure vary with the phase of foreclosure the property is in when purchased.

More for Less

Buyers interested in purchasing foreclosed homes can often buy more house for their money. That’s because foreclosures are usually priced below market value. The banks and other financial institutions that take over foreclosures want to sell the properties as quickly as possible. They often price them low so that a greater number of buyers will make offers.

Lower Down Payments

Foreclosures may also present opportunities for first-time home buyers. Traditionally, down payments can prove a serious hurdle to new home buyers. Most conventional mortgage lenders require buyers to come up with down payments of 10 percent to 20 percent of a home’s purchase price. Because foreclosures tend to have lower price tags, buyers have to come up with smaller down payments when purchasing them.

Nicer Neighborhoods

Buyers may be able to move into higher-priced neighborhoods that they otherwise might not be able to afford. A house in a neighborhood of $250,000 homes might go on the market for $190,900 when it is sold as a foreclosure.

Investment Opportunity

The foreclosed home can be an ideal investment for the amateur or professional handyman. You can often make a number of improvements to the property yourself before selling the house for a handsome profit. If you have experience fixing up homes, the foreclosure auction is a place where you can get your foot in the door of real estate investment. Your sweat equity can pay off in real dollars when you sell the house.

Phases of Foreclosure

1.  The Owner has started missing payments.

In this case, a seller wants to sell before the lender gets involved. They will be motivated to achieve a fast sale and may create an opportunity for a below market purchase price. In this case the seller may be more likely to do repairs and might even be able to assist the buyer with some major closing cost credits or other concessions. As a buyer, you can use use regular mortgage financing and you can obtain desired inspections within standard due diligence/contingency period. The seller must legally provide a complete history of property’s condition, problems, repairs, etc.

Having said that, the seller probably won’t be able to negotiate a price below the outstanding balance of their mortgage. And since they are likely living in the home, they still have to find somewhere to move in which case you will not be able to move in on closing day and will have to rent the house to the previous owner until they move out.

2.  Pre-Foreclosure/Short Sales

In this case, the missed payments have gone on long enough that the Lender has filed a Notice of Default (NOD) or Lis Pendens and the Seller is now attempting to complete what is known as a Short Sale.  This seller will be motivated for a fast sale, increasing the buyer’s bargaining power. As before, the Buyer can do all the standard inspections during the due diligence/contingency period. Unless the purchase price will pay the mortgage and closing costs in full, the lender’s approval of price and terms of sale will be required (i.e. short sale). The Lender may not approve the price, seller concessions or closing cost credits and short sales generally take longer to close. They may take 45-90 days longer than a normal purchase. And in this case, the sellers still have to move out.

3.  The Foreclosure Auction

The short sale process hasn’t worked or the owner has walked away from the property and isn’t trying to work with the lender, so the property is now being offered up in a Foreclosure Auction. As a buyer the advantages are that the property will be sold for the outstanding mortgage balance owed to foreclosing mortgage holder and because auctions require cash payments, there is generally less competition for the purchase.

The obvious disadvantage is that the auction purchase price must be paid in cash on the same day as the auction and no mortgage is usually allowed. In addition to this, auctioned homes are “as-is” which means no inspections are allowed and the property condition might be suspect due to damage done by upset homeowners. And the buyer needs to do some research on the state of the title before bidding since the house may come complete with other liens, back taxes and mortgages. No commissions or attorney’s fees are paid and the buyer must pay for their own representation.

If the bank believes the auction will not recover a good price it may buy the property at auction.

4. Post-Foreclosure. The Bank now owns the property.

This is known as an REO property (Real Estate Owned by Lender). Remember I said banks don’t like to be in the property owning business so they are generally motivated to get it sold and will negotiate prices, down payments, closing costs, escrow length and a myriad of other concessions. The title will be clear, so the buyer won’t have to worry about any other liens or back taxes. Inspections and mortgage financing are allowed within normal due diligence/contingency periods. The house will be vacant and can be moved into immediately after the closing ceremony. REO sales close within a normal escrow period of time.

The properties are usually listed on MLS and the bank will pay real estate agents’ commissions.

What is the down side? Well although you can do normal inspections, they are just for your information because the Bank will not agree to do any repairs treating this as an as-is sale. Banks will usually require additional paperwork. And because they have never lived there, they cannot provide disclosures as to property history/condition issues.

Alternatives to the Foreclosure

Okay, that is the story behind foreclosures. But is it a good deal for you? Think about this.

1.  New Homes

When you purchase a new home you are protected by a warranty. Builders provide a one-year limited warranty on workmanship and materials, as well as a ten-year structural warranty.

When buying a new home, many builders have special incentive programs to assist buyers. These incentives may include below market financing or help with closing costs and they can save you thousands of dollars and make it easier for you to qualify for your home purchase.

If you need a quick response to your offer, a new home is a smart way to go. In most cases, you’re dealing directly with the builder, which ensures a prompt reply and as long a the new home is ready for you to move in, you can expect to close in a timely manner and move in.

Of course, the main benefit of buying new is that everything is pristine, sparkling, and brand new. In many cases you can work with the builder customize the home, selecting items like cabinetry, countertops, and flooring.

2. Resales

By law, conventional sales on new or resale homes require full disclosure of any known details or drawbacks on the property. The seller can be held liable if a problem arises as a result of an issue that wasn’t fully disclosed at the time of the sale. With foreclosures, it’s always “let the buyer beware.”

Resales homes are generally in pretty good shape. The sellers are moving because they want to. Perhaps they are moving up in size or downsizing, or maybe they are moving because of better paying job opportunities or to be closer to an aging family. Whatever the reason for selling their home, they normally work with an agent to sell it at fair market price and take a little profit out to use as a down payment on their next home. Real Estate Agents working with buyers help determine what is a good price to offer, walk them through the inspection, and work with them through every step of the home buying process. The inspection will point out everything from major to minor issues a home buyer should be aware of and offers an opportunity to re-negotiate the terms of the sale or for the seller to make repairs before the closing ceremony. And you can always get a home warranty to cover unexpected equipment malfunctions within the first year of purchase. I recommend to my buyers that they make the purchase of a home warranty a condition of the sale. It actually benefits both the buyer and the seller since it covers the house on behalf of the seller up to the day of closing and then one-year after that for the buyer.

Hopefully, this has given you something to think about. Just remember – whatever your decision, I am here to help you with you Real Estate needs.

 

Moving Yourself? What do you need?

One of the frustrating parts of moving is… every time you get home from the store you realized you should have gotten.. yet another item you need to pack with and ran out of. Here is a list of items you need in order to pack as well as items that would be smart to keep out of the moving truck until the very last second.

Boxes

Packing Tape

Packing Paper

Bubble Wrap

Moving Blankets (you could also use old towels)- to wrap furniture or artwork and tape over the fabric; this creates extra layers of protection for your glass or delicate belongings.

Markers or Label maker-Label, Label, Label. You will not regret it.

String or Rope

Screw Drivers-sometimes you have to take doors off the hinges to get furniture through, or you have to take furniture apart

Cleaning supplies-clean as you go, it makes the process easier (broom, dustpan, vacuum, Clorox wipes, Windex, paper towels, etc.)

We know how fast moving tape is used, and depending on how many “movers” you have, you might want to invest a tape gun per mover, or have two people share one and label it. Have a designated spot to sit down your moving supplies so you are not constantly looking for what you need.

Hope this helps you in your DIY Move!

What time of year is the best time to move?

As we continue to kick off the New Year we can see how full our schedules are. We all know that different seasons, months, holidays of the year bring different pros and cons. So what are the best and worst parts of moving during different seasons? When is the best time to move?

Unfortunately, the best time to move can also be the most inconvenient time to move for some. The slower months for moving companies, realtors, etc. are during the holiday season of November through January which also mean the cheapest prices for you as a mover. The con to consider as you move during the holiday season though is traffic. When considering the time it will take to move, double the amount of time it should take you to get to your new home, that way you are not frustrated and you do not feel behind. As many travel during the holiday season roads are easily clogged and traffic is guaranteed.

The same also goes with the days of the week. Monday through Thursday are the slowest and cheapest because no one prefers to take off of work to move. It is easier to acquire a mover and cleaners for your home on these days, which you might want to be mindful of.

Parents: I know you are thinking right about now.. gosh. These are not beneficial to my kids at all. This will disrupt their lives even more than the Move itself and it will be so hard for them to keep up with homework, make friends, etc. The idea is though: it will not make the Move transition any more difficult than it will be already. Why you ask? Because the kids will be at school during the day. You do not have to worry about them, take long lunch breaks, find something to entertain them, etc. Fact: you will need that half hour mental break when you go pick them up. They very well might be excited to see the progress made each day during the Move. Transitioning schools during the school year allows them to make friends instantly in class rather than during the summer the chance of them moping around the house wishing they knew someone in the neighborhood. Moving during the school year can be potentially best for everyone involved and cheaper for your wallet.

Another obvious consideration to moving is the weather. It cannot be controlled, but being mindful of the climate and reoccurring weather in the area that you are moving each year can help you better plan your move. For instance, it would be extremely difficult to move in the south in July because of the extreme heat. It will take double the amount of time to move because the need for water breaks for your professional or volunteer movers. Know the typical weather patterns for your area and use them for your moving wisdom.

Sometimes, as movers we do not have a choice on when we need to move, but this helps us highlight pros and cons if we do have the choice to better enhance the Moving adventure.

 

To be, or not to be… a Landlord. That is the question.

In the first series of our blog we asked many questions for you to think about and consider. One of them was do you want to sell your home or lease it? This blog we will ponder further to help you make the decision.

First question to ask yourself. How do you feel about this house? Does it have sentimental value to it, where you do not want others living in it? Has it frustrated you so much you only have stress and animosity towards it? Or do you simply think it is a good home and think others will enjoy it as much as you have?

Your emotions toward this home will speak a lot about the time and effort you are going to be putting into it for someone else if you decide to lease it. The house will still be your child, that you have to take care of, feed, and nurture; the only difference is that you are not living with it day to day. You will have to deal with all of the problems, but you also receive that wonderful monthly check. Do you have the time to put into the house to make sure it is kept up, to make the renters want to pay the monthly bill and to allow them to enjoy the house?

Sometimes being a landowner can be more of a pain than it is worth. You never know who will end up renting and how the house will be taken care of, but it is all part of the gamble. When deciding to lease your home, think about the time, work, money, and value you are putting into the home as well as receiving from it.

The Moving Company

Many thoughts come in when selecting movers and thinking about who will be handling all your belongings. The first decision is “is it worth hiring a mover over asking friends and family to help?” Followed by, “Will my belonging be safe from damage or theft?”

That is entirely up to you, but most of the time it is worthwhile to have fewer hands in your home during the process. And there is something to be said for hiring a professional in the strategy they have set in place and all of the protection they establish for you and your personal items.

If you are selecting a professional mover, Promover, is a great place to start in checking out all the professionals and knowing who is trustworthy in the moving business.

You can also receive free moving quotes on moving.com. This can get your price estimate to know if you can afford professionals along with purchasing a new home or selling your old home. All the fees of these transactions add up so be wise with your money!

Do your research into each company and the company you select. Make sure you know about the insurance or coverage they will place on your belongings. What fees will be added if they have to carry belongings up stairs or far distances or if you have over-sized or heavy items. Ask if your belongings will have to be transferred along the trip as well. Also think about if you are going to want to tip your movers and have change ready to give each individual mover their piece of your gratefulness.

The bottom line with moving is that you are ready and prepared in knowing your belongings for the movers, for knowing who are handling your personal belongings, and what the costs are of protecting everything you own. Research and know the ins and outs in order to be protected during your Move.

Fruit Pizza: A fresh and delightful treat

This past weekend I was able to try this delicious treat. It is sweet but leaves your stomach feeling refreshed and not weighted down by sugar. It can be taken to any Christmas party this season to add a fruity taste as something different than the average pecan pie, fruit cake, or peppermint flavored treats.

Ingredients:

Sugar cookies (1 Roll)

1 Package (8oz) cream cheese, softened

1/3 cup sugar

1/2 teaspoon vanilla

Fruit of choice

Directions:

Bake sugar cookies and let them cool.

Beat Cream cheese, sugar, and vanilla in mixer until fluffy.

Spread over cooled cookies and add fruit.

Refrigerate until chilled, at least one hour before serving.

Go to our Pinterest Board, Holiday Recipes, and look at more goodies you can try and cook up!

Moving for the Holidays (Part 2)

No fear! Mommy’s here!

Just kidding. Although Kevin’s family did come home… twice… to save him and calm his fears and shenanigans.

The Mom we are referring to is Realtor.com! We at the Move look up to the Realtor in the experience and wisdom they share. They published an article, 10 Reasons You Can Sell Your Home During the Holidays Without Hassle, which gives great holiday moving knowledge and encouragement! It tells us the positive side of listing your home during the holiday season and how that can work out in your favor as a seller. We love their realism and input into how it can help you sell your home as well as it encourages you to still enjoy your holiday season. Enjoy the article! We sure did!

 

Moving for the Holidays

I was listening to the radio on the way home yesterday and they were listing the stress triggers of the holiday season. It included financial issues, family problems, health problems, family visiting for an extended vacation, traveling, and making your home holiday picture perfect. Those are all very valid stresses when it comes to the holiday season because we all long to enjoy every minute of our time off of work and school and truly want everything to go perfectly as we are spending time with our loved ones.

So can you imagine if someone (Aka YOU) were to move during this holiday season?

Some of you are already saying, “YES I CAN IMAGINE! HELP!”

Moving is stressful all on its own, not considering during the holiday season, when we are supposed to hunker down for the winter, gather around our fires with our loved ones and have decorations up.

Well that is what we all try to envision anyway, but that does not always happen, especially if we are in the process of moving. It is especially difficult to bring joy to your children while you are not at home and it is hard when you have to switch up family traditions because you are not in your own home.

The One Step Holiday Season Survival Guide:

Keep it simple. It doesn’t matter how much you have decorated, how many presents are under the tree, how much food you have prepared. Being together is all that matters. Remove the stress for a day and be creative with your family. Create a new tradition, become minimalist for a day, enjoy the outside and go to a park to play with the kids and pack a picnic. Do not be so dependent on a stationary house, but find something for the family to do elsewhere while you are in transition mode with boxes everywhere or in a Uhaul.

Declutter for Christmas!

Christmas!?! Yes that is right! We are a little less than two months away! Now is the time to begin “decluttering” for it because we all know how fast the holiday season flies by. By the time everyone gets out of school, flies in or out of town to see family, all the things we “think” we are going to get to in the house drift to the back of our minds. So the end of October is the perfect time to prioritize what needs to be done before the crazy season hits! We all know that for some of us it is easy to plan and for others it is easy to do. All I can do here is help you plan and prioritize what may need to be done in your home for the Holidays. So here are a few steps to declutter and be ready to celebrate a beautiful holiday season with your family!

1. Switch out decor from Fall to Winter!
2. Get rid of any unwanted items to make room for the new if you celebrate gift swapping or giving. This might be things of your own, getting rid of unused toys, downgrading on all of the decor, etc.
3. Create hiding holes! If you have kids or celebrate holidays at your house create hiding places for gift receivers so they cannot find what you are giving them.
4. Clean out a closet for coats or set out a coat holder, this winter in Henry County is going to be a cold one!
5. Make things childproof if you have company. Do not put ornaments on the bottom of your Christmas tree. Make sure any decor is not glass, candles are out of reach, and nothing breakable is in reaching distance from little arms.
6. Deep clean! You know what this consists of.

Writing things down in a checklist form makes us more prone to doing it. Create your own personalized list and put it somewhere you see it each day to motivate yourself.

If you are in the middle of making The Move during these next two or three months do not worry! We are going to feature a Moving for the Holidays segment that will give you tips on how to “survive” during a stressful time such as The Move yet still enjoy your house as you are packing up to settle in somewhere new.