5 Errors Home Shoppers Should Avoid!!!

Real estate professionals say they keep seeing buyers make the same mistakes over and over again in a home purchase. Among some of the common errors they see:

  • Unrealistic time tables: With a regular sale, “assuming you’re preapproved and it’s straightforward, you can probably do it in 30 days, but 45 is more common,” says Ron Phipps, immediate past president of the National Association of REALTORS®. But he advises home buyers to prepare for 45 to 60 days. And if it’s a foreclosure property, they may encounter lien and title issues that could cause delays stretching that to 60 to 75 days, even up to 90 days. And for short sales, that timeframe will greatly depend on whether the lenders have already agreed to it and a preset price, but it could take anywhere from 45 days to even up to nine months, Phipps says.

 

  • Ignorance with financing: Home buyers should learn more about the mortgage process, learn the terminology, and know what questions to ask in shopping around for the best mortgage rate. For example, Carolyn Warren, author of “Homebuyers Beware,” cautions buyers to never tell a lender, “This is my first time, and I don’t know how it all works — and I need you to guide me through the process,” she says. “It’s like putting a sign on your forehead that says, ‘Charge me more.’”

 

  •  “Trash talking” when negotiating: If the home is painted pink and the buyer insists it needs to be repainted, he could risk jeopardizing negotiations. Instead, Phipps suggests that when making an offer, buyers should stress what they like about the home. “Don’t make it adversarial,” he says. A price reduction should be talked about in terms of what the home is worth to that buyer, he says.

 

  • Getting in over their heads: Buyers may be tempted to stretch their budget in order to get the house of their dreams. Phipps suggests buyers don’t stretch themselves so thin that they miss out on having a reserve fund in case they need to make any unexpected repairs once they move in. “In most homeownership situations, there are going to be some unforeseen circumstances,” Phipps says. “So you want to make sure you have some funds behind you.”

 

  • No Reserve Fund:  After finally finding that “dream home,” what buyer isn’t tempted to stretch as far as possible — and drain all available savings — just to make the numbers work? It’s one of the big homebuyer mistakes, Phipps says.Often, buyers fall in love with a property, and they try to rationalize the decision, he says. “You need to be disciplined about it.”Too often, buyers set a price range and then fall in love with something that costs more. So they figure they’ll borrow the difference, Phipps says.But you need a reserve fund — something you hold back to address unexpected problems, like the refrigerator that quits in mid-July, or the “like-new” water heater that dies the day after you move in. Or the realization — after seeing the neighbors sunbathing once too often — that you need a privacy fence, pronto.”In most homeownership situations, there are going to be some unforeseen circumstances,” Phipps says. “So you want to make sure you have some funds behind you.”

Article from http://realestate.glozal.com/profiles/blogs/5-errors-home-shoppers-should-avoid

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Pet Friendly Homes

Most homes are not designed with the family pet in mind, but Fauna Plus Design of Kobe, Japan, designs dog-friendly homes that are both attractive, practical, and attentive to animal behavior. To maximize space, the company has designed a home with an indoor kennel for a Labrador retriever located under a children’s playroom and another home with a waterproof indoor kennel, located under a study, for two dachshunds.

Pet-friendly design also might involve kennels made from cabinets featuring odor-absorbing materials, ventilation systems that remove hair, outdoor dog showers, and special backyard-accessible spaces for dogs. These concepts have not been embraced in the United States, apart from doggy doors and pet-resistant fabrics, despite the fact that Americans shelled out over $50 billion on their pets last year, according to the American Pet Products Association.

The Pet Realty Network, however, enables U.S. real estate agents to meet the needs of clients with pets, helping them to locate homes with elevators, mudrooms with dog washes, and other useful features. Still, experts say that it remains to be seen whether home design will evolve to fully embrace the family pet.

 

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Animals Left for Dead in Foreclosed Homes


Animals left in abandoned homes with no food is a scenario that has become more common since the real estate market tanked and triggered soaring foreclosure rates, say real estate agents, mail carriers and animal rescue groups on the front lines of the problem.

These pets have not only been left behind, but are locked in foreclosed and abandoned homes by their owners.

They suffer a slow death from starvation and dehydration, unless someone finds and rescues them in time.

The American Society for the Prevention of Cruelty to Animals estimated in 2009 up to a million animals would be abandoned at shelters, outdoors and in foreclosed homes. There is no updated estimate or a centralized database tracking the problem, though, said Joan Carlson-Radabaugh, ASPCA community initiative director.

Some real estate agents across the country have banded together to help.

Cheryl Lang, president of Integrated Mortgage Solutions in Houston, formed the nonprofit No Paws Left Behind in 2008. Now a nationwide network, the group has rescued at least 1,000 animals.

Animal services will take animals abandoned in homes, but the process is long and full of red tape. Animal control officers have to post warnings, document the evidence of neglect and not trespass on the property unless accompanied by law enforcement. To get into the home and take the animal, they need a search warrant.

Betty Hughes, board member and treasurer of the Animal Refuge Center, a no-kill shelter in North Fort Myers, Fla., said the top three reasons animals are sheltered are foreclosure, job loss and divorce. Rescuers say pet owners, afraid their animals will be euthanized, will leave them in homes with food and water, believing someone will come in a couple of days to find them. But it can be weeks or months before someone enters the home.

To read more please visit http://realestate.glozal.com/profiles/blogs/victims-in-the-foreclosure-crisis-pets?xg_source=msg_mes_network

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