Questions to ask when searching for a new home

Searching for a new home is so different from person to person. Some people rush into it like a Kardashian toward a camera. Others take their sweet time. They will walk the yard and see if the home has the proper ant count. I have put together some questions you may want to ask yourself when making such a big decision. Some make me sound like Captain Obvious, while others will make you say - why didn't I think of that.
Let's start with an easy one. What did you like most about you last house? That is a good start in making the new home a HOME. What did you like about your previous neighborhood? How far are you willing to drive and still be comfortable?  How soon could you move on a house if you identified one today? You can make an offer on a house contingent on the selling of your previous home, but those deals can be hard to put in place. There's too much uncertainly for each person down the line.

Do you have a pet? Will you need a home with a fence? Will neighborhood rules allow fencing? Pets are family members. We need to take their needs into consideration too. Somehow I put the pets ahead of the children. How are the schools? There should be sites to help you find out test scores for schools. Visit the schools to see if it will be a good fit.

There are a ton more things to ask, but this is a start. Remember, paint colors and worn carpet can be changed. Keep in mind the things that will make living somewhere comfortable. Plant roots and live the American dream.

Mortgages and the tax man!!

First of all, let me say I am not an accountant. I don't even play one on TV. (random reference from 80's commercial) As I write this, it's tax day. Cue Darth Vader music here. The U.S. government would like to see more home ownership. It's good for the economy all the way around. In an effort to move people down this path, they allow home owners with a mortgage to deduct from their taxable income interest they pay on a home. The amount will be determined by your income tax bracket. These deductions are especially beneficial in the early years of the loan. That is when you are paying very little on the principle and it's mostly interest.
Death and taxes are the only sure things. I can't help you much with death, but I can help you find a home and cut back on those taxes!!Do your research. Consult with an accountant. Don't keep paying your landlord's mortgage. Even though I am sure he is a great guy or gal.

Hey, your listing stinks!!

Studies have shown smells have a tremendous impact on how potential buyers feel about your house. Some folks go with candles, or plug-ins. There is even a line of thought that says bake some cookies. Make them feel at home. Perhaps even better than their home. If you are going to go that route--leave some for the agent!! Actually once I showed a house where they left cookies with a note saying to take one. The note also said we hope you enjoy our house as much as we do. It was a very nice touch. Here is a list of ways to avoid bad smells from Melissa Dittman Tracey. There are some very good thoughts here.
1- take out the trash after every meal.
2- clean refrigerators often.
3- change air filters regularly
4- do laundry regularly to avoid clothing pileups.
5- use the fan over the stove when cooking.
6- avoid cooking strong-smelling foods
7-bathe pets regularly, and clean bedding, toys, and litter boxes often.

House hunting 101

Spring is in the air and folks really come out of hibernation and start looking at houses. I am not sure if it is because they are on spring break and looking for a new start, or it's just more pleasant to look at houses in nice weather. Either way, I have put together some house visiting tips.

1. You can eliminate a lot of houses during your internet search. If you absolutely require a 2-car garage, why look at houses without a garage or just a single car? Mapping can also be useful here. If the house is not in the right location, knock it out. It may be on the side of town that would add 20 minutes to you drive, or something like that. OR it could be near a (what one local real estate agent happily termed) waste management facility. Insert location 3 times here.

2.  Try to request the home owner not be there for the showing. You just end up awkwardly rushing through the house whispering your real thoughts. It is so hard to really get a feel for a house when you don't feel comfortable opening the master closet.

3. Take notes on each house. If you look at many, they really start to run together quickly. Then when you are discussing your options you will be asking things like "was that the one with the small second and third bedrooms?" Make notes and just rule out the ones you know you can't turn into a home. It might be helpful to take some pictures.

4. In North Carolina we don't really have much ice and snow, but you may want to consider how the house would fair in inclement weather. Is the driveway too steep for an ice event?

5. Does the floor plan work for your needs? Would a split plan be better? Is there room to grow? Is there enough storage? Most builders want to take advantage of every bit of space, so storage often goes away.

6. Consider what updates you will need (or want) to do. Would they be more/less expensive than another house on your list when all is said and done? Does it need new heating-cooling, paint, flooring, roof, or walls moved? Some of these things can really add up!!

7. Try not to be influenced too much by the way the current owners have it decorated. Their furniture and belongings will go with them. Imagine what you can do with the space. Paint colors can be changed. Usually one client will be able to see potential, and the other will only be able to see what is right in front of them.

The best way I have found to view multiple properties is to look at like a game of King of the Hill. Until you find a better house, this one is it. If you find one that offers more of what you like, it is the new king!! Happy house hunting!!

What size mortgage should I get?

Spring is almost here!! After months of being shut inside, people begin to come out of hibernation, and start looking at houses. You can often see their hopeful faces circling around the neighborhoods they desire. Where do you start? Most people start their search on-line these days.(Might I suggest carolinapropertysales.com.) Here is the thing--how do you know how much you can afford?
Unless you have bad credit or a bankruptcy lenders would like to keep it under 33% of your monthly pre-tax income. I always send people to get pre-qualified first. When we do identify a house to make an offer, the sellers are going to want to be sure they are dealing with qualified buyers.

I tell clients to think in terms of a payment they are comfortable with. Are you sure you want to change your lifestyle for a higher payment? For some reason many of them start talking about cutting out Starbucks. Venti, half-whole milk, one quarter 1%, one quarter non-fat, extra hot, split quad shots (1 1/2 shots decaf, 2 1/2 shots regular), no foam latte, with whip, 2 packets of splenda, 1 sugar in the raw, a touch of vanilla syrup and 3 short sprinkles of cinnamon OR a new house?!

Just because you can afford a mortgage, doesn't mean you should. Always try to keep money in reserve to cover a rainy day. What are your plans for children? Would your parents come live with you? Sometimes older kids boomerang. Has retirement savings entered the thought process yet?

In the end, the whole thing is a process. There are professionals to help you. Real estate agents can help in finding the right mortgage person and attorney. Your team will be very important in one of the biggest decisions you will ever make. No pressure!!

As the owner of Carolina Property Sales in Southern Pines-Pinehurst. I have seen some amazing things happen when people go to apply for a loan. At this point in my career, I always get people pre-qualified before we go to look at homes. There are so many issues that could come into play. Even after you get a house under contract there are things you need to do. Once I have a couple create an all-time blunder list. AFTER getting the house of their dreams under contract they 1-went car shopping and had their credit checked on each lot. 2-EACH changed jobs. 3-bounced a check to the appraiser. WOW!! Needless to say---things didn't work out.
I contacted an expert in the field to do a little video to explain the Do and Don'ts when applying for a mortgage. Pam Gantt is the President - Key Mortgage NMLS #63327. 

Why get a home inspection?

It is impossible to overstate the importance of a home inspection. As the owner of Carolina Property Sales in Southern Pines, NC, I ask people to sign a waiver if they say they don't want to get one. I could list my reasons instead I have one of the areas best here to explain it to you. In this series we will also take a look at the most common issues in a home inspection report, and what exactly is inspected.

With thousands of home inspections under his belt Micah Payne has seen it all. Actually, just when you think you've seen it all...something new happens. We may have to do a segment on the most unusual things he has witnessed. Until then, let's cover the basics.