Hampstead NC real estate listings and homes for sale, home buying, home selling information – Karla Palmer, AHS, SRES - REALTOR/Broker

My New Blog

Where You Live May Prolong Your Life

April 19th, 2009 12:12 PM

As Earth Day aprroches on April 22, I have been researching more information on how to be more green, honor the Earth and be more aware of promoting more community awareness and how this all ties in with my profession of being a realtor.

When looking for a new home, we like to say that the three rules of real estate: location, location, location. A good location is typically thought of as a safe community with good public schools. According to an article published in the Washington Post, where you live has a direct effect on how long you live. According to a team from Brigham Young and Harvard Universities, reducing air pollution has extended average life expectancy by five months for urban residents in dozens of U.S. cities over the past two decades. Average life expectancy improved 2.72 years (with five months of that increase attributed to cleaner air). However, the improvements were especially high in the District of Columbia, where residents are living roughly three years longer—most likely because of the profound reductions in particulate matter made in the region. This evidence that extensive clean-up efforts are worth the up-front investment can help environmentalists breathe easy. Urban air quality is no newcomer to the national stage: Earth Day Network released its own Urban Environment Report in 2007. The Report ranked 72 U.S. cities according to more than 200 environmental, health, and quality of life indicators. It also introduced, for the first time, a “Vulnerable Population Index” (VPI) which factors in each city’s susceptibility to an expanded list of environmental challenges based on the percentage of its population that is most at risk. Source:http://earthday.net/

To check out Earth Day Network’s Urban Environment Report, click here

Happy Earth day!
Karla

Posted by Karla Palmer on April 19th, 2009 12:12 PMPost a Comment (0)

9 Steps to Owning Your New Home

April 26th, 2009 3:39 PM

Step - 1 Make the Decision to Buy

It seems obvious, but it's good to note that the first step to buying a house is making the decision to buy. Consider the reasons you want a new house and write them down. Determine how long you want to live in the new house - does buying still make good financial sense? Can you afford a house that will meet your list of requirements? A good rule of thumb is your mortgage payment should not exceed 1/3 of your net monthly income.

Step 2 - Seek Professional Guidance

I'd like to schedule a time to meet with you to hear the reasons you want to buy a house and your plans for the future. We'll talk about neighborhoods, schools, economic factors liable to affect the market today and tomorrow, as well as how you would like your house and neighborhood to grow with you.

At this time, I will also help you get pre-qualified for a mortgage loan. Pre-qualification is a written statement from a loan officer indicating his or her opinion that you will be approved for a mortgage loan up to a certain amount. The fact that you are pre-qualified will help us when we are negotiating the deal.

Step 3 - Begin the Hunt

After our initial meeting, I'll search all my resources for houses on the market that fit your criteria. I'll preview these houses to eliminate the duds. Then, I'll schedule appointments to tour the houses at times convenient to you.

As we tour houses, I'll point out positive features and negative features. I'll ask you to tell me what you like and what you don't like. You'll probably amend your "wish list" as we tour houses, some things will become more important and others less important. With this new information, I'll refine our search criteria to narrow in on the house of your dreams.

Step 4 - Know the Market

My knowledge of the local market is an essential factor in the house search. I'll let you know when the market in a particular neighborhood is "hot" and requires immediate action or when the market is "cool" and allows for thoughtful consideration.

As we tour houses, I'll let you know when the asking price has negotiating room and when the house is "priced to sell". My unique market knowledge will keep you a step ahead of the "house hunting competition".

In a "seller's market". It is not unusual to see multiple offers on a property, full-price offers and even above-price offers. On the flip side, during a "buyer's market" there are more houses for sale than buyers. This gives us more negotiating room as houses are taking longer to sell.

Step 5 - Find Your Dream House

I'm confident we'll find your dream house. When we do, I'll put together the purchase offer tailored for your needs including appropriate contingencies (such as obtaining financing, favorable home inspection, clear title, etc.).

The offer is normally presented with "earnest money". This is a cash deposit made to a home seller to secure an offer to buy the property. The amount is applied to closing costs. If the seller accepts the offer, generally closing is held 30 to 60 days from the offer date (generally dependent on the turn around time of your mortgage financing).

Step 6 - Negotiate the Deal

It is not uncommon to receive a counter offer when the initial purchase offer is submitted. Don't let this discourage you. We will discuss the counter offer and decide whether or not to accept the counter offer, submit our own counter offer, or reject the counter offer and move on.

Market conditions will play a role in how aggressively we negotiate the deal. We will also work within your limits. Emotions can lead to buyer's remorse. It is better to set limits prior to negotiating an offer and stick to these limits.

Step 7 - Get a Loan

During the closing period, you will be working with your mortgage lender to close the loan. Since you pre-qualified for the loan before starting your home search, you will be that much closer to the end. I'll gather the necessary property information your lender will need to close the loan.

Step 8 - Close the Deal

You will receive a "Good Faith Estimate" of closing costs at the time the loan application is submitted to the lender. The estimate is based on the loan officer's past experience and may not include all the closing costs. I will be glad to review the "Good Faith Estimate," answering questions and highlighting missing costs and estimates I believe to be low.

Step 9 - Move In

Congratulations! It's time to move into your new house and make it your home. Enjoy this exciting time. I'll give you a checklist to help you remember the numerous details that will make your moving day a pleasure.

Posted by Karla Palmer on April 26th, 2009 3:39 PMPost a Comment (0)

More Money In Your Pocket

April 13th, 2009 3:02 PM

President Barack Obama recently urged families to take advantage of near-record low mortgage rates by refinancing their home loans. "We are at a time where people can really take advantage of this," Obama said, seated with a handful of homeowners who have already lowered their bills. But he also warned people to watch out for scam artists, cautioning, "If somebody is asking you for money up front before they help you with your refinancing, it's probably a scam." Rates on 30-year mortgages inched upward this week but remain near the lowest level in decades, allowing borrowers with strong credit and stable jobs to save money if they refinance. The average rate on a 30-year fixed-rate mortgage rose to 4.87 percent this week, up from 4.78 percent last week, Freddie Mac reported Thursday. That was the lowest in the history of the survey, which dates back to 1971. Low rates have sparked a surge in refinancing activity, with nearly 80 percent of new home loan applications coming from borrowers seeking to refinance. Freddie Mac's sibling company, Fannie Mae, refinanced $77 billion in loans last month, nearly double February's volume. "The main message we want to send today is there are 7 to 9 million people across the country who right now could be taking advantage of lower mortgage rates," Obama said in a photo opportunity in the Roosevelt Room. "That is money in their pocket."
By BEN FELLER and ALAN ZIBEL Associated Press Writers
WASHINGTON April 9, 2009 (AP)

Let me know if I can facilitate getting you pre-qualified for a new loan. I have many connections within the mortgage financing industry. Now is the time to make a move with funding available for first time home buyers and incentives for all home buyers. With the interest rates at this historic low and not expected to go much lower, financing OR refinancing is a great way to put more more money in your pocket. Who doesn't want that?

Posted by Karla Palmer on April 13th, 2009 3:02 PMPost a Comment (0)