The No Money Down Misconception!

  

                  Many times we think we have come across a great deal as soon as we see that (no money down!) flashing across the screen. Wow, this is to good to be true!"  So you wait on pins and needles the entire week to run down to the store and get whatever has caught your eye for that week just to be deflated at the register. You saw the flashing lights but failed to see the fine print at the bottom of the screen. I have been that girl more than once because I'm a dreamer by nature and my practical side always seems to be delayed or better yet suppressed.
               
                When it comes to purchasing a home a lot of first time buyers are told they qualify for down payment assistance and there will be no money down. So imagine their sticker shock when they find out that no money down doesn't mean no money out of pocket. So lets make sure when your ready to purchase you have a good understanding of what you can expect.

                   When you begin the process with a lender you may be told that you qualify for down payment assistance. Down payment assistance are funds that a buyer may qualify for to use toward the purchase of a new home. It helps alleviate some of the monetary burdens associated with the home purchase. For instance an FHA home loan normally requires a 3.5% down payment. As an example if you were buying a 100k home your down payment would be $3500.00. The down payment program could be used to cover some or all of that cost. That's normally what your lender is referring to when they says no down payment.

           On the flip side there are always other cost associated with a home purchase. Earnest money is one that comes up in almost every transaction. The amount of earnest money varies with each transaction and what has been agreed on. A seller may require $1500.00 to take the home off market while your under contract, as a show of good faith. A builder can typically ask for once percent of the purchase price of the home. It's negotiable but whatever the cost it's not apart of the no money down payment category.

          The appraisal is another cost that a home financed through a lending institution will be subject to. Your appraisal could be $650.00 and if the appraiser has to go back out to the property they may charge an additional fee. Lets talk about the home inspection depending on the company you use, the homes sqft and the services they offer the home inspection could start at $350.00. There may also be additional closing cost, last minute charges that have crept up on your credit report and a few other fees that could arise.

            I know this has all of a sudden seemed quite daunting. It's not meant to scare you just to make you aware that no money down is different than no money out of pocket. Your lender and realtor will work as a team and help you through the process. You will more than likely have a good understanding of what to expect with the right team in place before you truly begin the process. A good first step is to always set up an initial consultation with your realtor. This way your able to get the facts without the fluff.

           If you have questions or are thinking about buying or selling a home and would like to know your options give me a call. As always I appreciate the time you take out of your day to read my blog. If you find this blog helpful please pass it on.

          Morrishia Dooley-The Dwelling Specialist

      A.S.R, REALTOR- Associate Broker, Certified New Home Selling Expert

Licensed Life, Health & Sickness Insurance Agent 

       Solid Source Realty

          O-770-475-1130 ext-3815

        Direct-678-886-8353

         email-morrishia@galleryofdwellings.com

     website -www.galleryofdwellings.com

         Blog-therealestateavenue.blogspot.com

Thank you for choosing me to be your preferred Realtor for you & your loved ones

If your in the market to sell, buy or lease purchase a home give me a call

    

Tips to help avoid septic tank disasters

                Now of course there is not a 100% fail proof way to keep your septic tank from ever backing up. However, you can help ensure the longevity of your septic tank by doing a few things to enhance its performance and keep it working more efficiently.

 First what is a septic tank really? 
                    The typical septic tank is a large buried container made of fiberglass, concrete or even polyethylene. Used water from your home to include your bath, laundry, sinks or toilets drain inside of the tank. Some of the lighter solids such as grease rise to the top. Heavier solids settle to the bottom where bacteria inside the tank can partially decompose them leaving sludge. Think of it as an onsite sewage area or system. Just like anything else in your home it must be maintained and cared for. Neglecting a system and allowing small problems to become bigger over time will results in a higher cost to repair or replace. 
                  A good start to take care of your system is to find out when the system was last inspected or pumped. If it has been over 3-4 years make an appointment with a qualified professional to have this done. The cost to pump the septic tank is usually under 400.00. Once you have done your initial inspection of the tank and cleaning, plan to do it every 3-5 years depending on the size of your family to help maintain working efficiency.  

Shrubbery & trees near your tank can puncture or crack the septic tank walls resulting in leakage. Make sure to clear out any trees or shrubs to close to the septic tank and be mindful of certain trees that have especially deep roots.  




 
        Just like the old saying you are what you eat, the same goes for your septic tank in a sense. If your pouring harmful chemicals down your drain it will upset the balance of good bacteria in your system. This good bacteria breaks down the solids in your septic system. Diapers, feminine products, harsh detergents & coffee grounds are just a few things that should not be flushed down your system. 

            Install low flow faucets, toilets and shower heads to help reduce the amount of wastewater. Excess wastewater is one of the main causes of septic system failure. Also talk to your tax representative to see what tax breaks or credits can be given for installing low-flow systems in your home.

If you have a septic tank do not install a garbage disposal because of the solid waste build-up it can add to your septic. This can lead to extra septic tank pumpings and throw off the balanced bacteria used to breakdown the waste emptied into the system.

To get more information about how to treat and care for your septic tank contact a professional to guide you on the do's & do nots for your system.
                 

As always I appreciate the time you take out of your day to read my blog. If you find this blog helpful please share it'

                            Morrishia Dooley-The Dwelling Specialist

      A.S.R, REALTOR- Associate Broker, Certified New Home Selling Expert

Licensed Life, Health & Sickness Insurance Agent 

       Solid Source Realty

          O-770-475-1130 ext-3815

        Direct-678-886-8353

         email-morrishia@galleryofdwellings.com

     website -www.galleryofdwellings.com

         Blog-therealestateavenue.blogspot.com

Thank you for choosing me to be your preferred Realtor for you & your loved ones

If your in the market to sell, buy or lease purchase a home give me a call

    

To sell or not to sell that is the question?!

            Over and over for the past few months I have heard many conversations by sellers debating on selling there home. Even though the market has changed for the better many are not sure if they should wait it out for a while longer. The truth is there is no easy answer to this question. The reason for this is everyone's motivation for selling may be different. Some may want to downsize, others may need to relocate to be closer to family, for some it may be a rental property they want to get rid of. The list of reasons can go on and on.  A few things you can do to help make the decision for you and your family are below. 

* Have a family meeting this will give you insight and valuable input from those it will affect directly.

* Narrow down your reason for selling. This will help you gain clarity on what your goal is. It will also help you think through your decision and stop any impulsive acts that may in the long run not be beneficial.

Have a plan in place. If you were to sell this home where would you move to if it is your primary residence? How long would you need to find another residence. Are you planning on renting or buying after the sell? 

Repair cost may be a factor. Many seller may choose to sell the home in as-is condition excluding the required lender repairs that may be needed to pass the appraisal. However as you may know the more appealing the home is the more it could sell for. Are you prepared to crack open that piggy bank & put in a little elbow grease to get the wow effect?

Can you afford to move? Although home values have improved has your market area improved enough for you to sell your home? At the end of the day there is always cost with selling a home. Having to clear the existing mortgage on the home is one of the biggest. Contributing toward closing cost for the buyers. Professional fees such as taxes, Agent fees, lawyer fees, transfer fees to name a few.

Start with a cma. In order to know what your home may be able to sell for you must know what your current market is doing. Have an agent familiar with your area and the home values in that area perform a competitive market analysis. By comparing similar homes in the area that have sold within the last 6 months or less you can have an idea of what your home may sell for.

If you have questions or are thinking about selling your home and would like to know your options give me a call. As always I appreciate the time you take out of your day to read my blog. If you find this blog helpful please pass it on.

                            Morrishia Dooley-The Dwelling Specialist

      A.S.R, REALTOR- Associate Broker, Certified New Home Selling Expert
Licensed Life, Health & Sickness Insurance Agent 

       Solid Source Realty

          O-770-475-1130 ext-3815

        Direct-678-886-8353

         email-morrishia@galleryofdwellings.com

     website -www.galleryofdwellings.com

         Blog-therealestateavenue.blogspot.com
Thank you for choosing me to be your preferred Realtor for you & your loved ones

If your in the market to sell, buy or lease purchase a home give me a call

                                               
                                                           

Great House Plants For The Novice..

       Like many of you I have done my share of laying to rest a vast number of house plants. You buy a bunch of seeds or potted plants with the best of intentions and within a month or two that vibrant green color has been replaced with yellow & brown. The problem may not be that your green thumb challenged you might need to start small.

     I know what your thinking "Why should I care about learning to take care of plants when I can buy artificial ones that don't wilt?" Plants not only add beauty to a room they also provide clean air, boost your mood, improve sleep & lower the risk of illness. All of these are great reasons to invest in a few house plants.

       The Peace Lily-(Spathyphyllium) native to tropical regions of the Americas and southeastern Asia does not need a lot of water or sunlight to survive. Your are able to water this plant once a week. You don't need to over water the soil dampening it should be adequate. The best sunlight for this plant is indirect sunlight. You may also need to re-pot the Peace Lily every 1-2 years.

     

   The Spider plant (Chlorophytum Comosum) also called Airplane plants are native to Tropical Southern Africa. They thrive in bright indirect light & a good amount of water. Avoid making the plant to soggy. The spider plant can begin sprouting flowers in spring. This may not always be the case depending on the care of your plant. Watch for sticky & yellow leaves as this can be a sign your plant may be unhealthy.

        

Aloe Vera Plant grows wild in tropical climates & is used for medicinal & agricultural purposes. It requires well drained soil & bright and sunny conditions. However to much sun can burn the plant. Unlike the Peace Lily which is beautiful to look at but can cause a nauseous feeling & difficulty swallowing if ingested the aloe plant is hailed for its therapeutic uses by many.




           A few other honorable mentions for great indoor plants are Golden Pothos, Snake Plant, Rubber Tree, English Ivy & Philodendron. As always do your research before buying any of these plants to make sure there safe for you & your family.




                                                            

                                                Morrishia Dooley-The Dwelling Specialist

      A.S.R REALTOR- Associate Broker 

       Solid Source Realty

          O-770-475-1130 ext-3815

        Direct-678-886-8353

         email-thedwellingspecialist@gmail.com

     website -www.galleryofdwellings.com

         Blog-therealestateavenue.blogspot.com
Thank you for choosing me to be your preferred Realtor for you & your loved ones

If your in the market to sell, buy or lease purchase a home give me a call

                   

The Inground Pool -Pricey or Priceless?

                   I have wonderful memories as a child living in Orlando Florida playing in the pool until I was a wrinkled prune and loving it. Since the climate was so accommodating many longs days were spent horse-playing at home in the pool. Our parents knew where we were and they didn't have to drive my sisters and I to Daytona or Cocoa Beach every weekend. However, some days it was inevitable because the home pool didn't come with the benefits of making sand castles.

                     When we relocated to the Peach State I noticed many of the homes in my neighborhood didn't have pools. However a lot of money was spent on functional outdoor patios, decks & gardens spaces. One factor in deciding if a pool is a good investment is location & surroundings.  If your living where a pool can truly give relief to certain climate conditions and can be used throughout the majority of the year it could be a great investment. If you purchase a home in a community where many of the homeowners have pools than not having one may put you at a disadvantage when selling your home.
                    Make sure your pool doesn't take the entire yard. How much backyard greenery will be usable once the pool is in place. Barbecues, parties & holiday gatherings are usually celebrated in the backyard. Many home buyers prefer a large fenced backyard instead of a pool. It's versatile and gives way to there imagination of the perfect oasis. Gazebos, extended decks, garden areas or a small fish pond could be a better way to see a bigger return when selling.

                   The average cost to get your 600 square foot pool installed & up and running can come with a price tag of $30,000 according to NAR. Don't forget about maintenance cost, and pool supplies to keep your pool in working order.


                  You should also consider the safety guidelines for your state concerning fences and pool covers. How high does the fence need to be in order to be in compliance with local and state laws? Does the area accessing the pool have to be completely enclosed? A few other factors to consider before installing a pool is the added cost of insurance. If you plan to sell the home eventually what will the lender guidelines be before approving a loan on a property with a pool?
        

     As you can see there are a few points to ponder when thinking about buying a home with a pool or adding a pool. I believe the answer lies with the individuals preference. As always you should do your research before you make a decision on anything that can impact your bottom line or impose a big commitment.

                     I will always cherish playing in the pool on hot days with my sisters. Arguing over who gets what float toy & pushing each other in the deep end of the pool when our parents weren't looking. The laughter, nostalgic feelings of love & our family gatherings spent around that pool are unforgettable. Although it must have come with a pricey tag for my hard working parents the memories shared there will always be priceless. 



                                                                   

                                              Morrishia Dooley-The Dwelling Specialist

      A.S.R REALTOR- Associate Broker 

       Solid Source Realty

          O-770-475-1130 ext-3815

        Direct-678-886-8353

         email-thedwellingspecialist@gmail.com

     website -www.galleryofdwellings.com

         Blog-therealestateavenue.blogspot.com

Thank you for choosing me to be your preferred Realtor for you & your loved ones

            

Appliances Not Included

                                                                           

                            *Seller does not want to include the appliances with the sale.*

This may seem like a minor one but I can assure you its one of the most common problems that can arise during the buying or selling process. A lot of homeowners have taken great pride in upgrading and repairing there homes. New roofing, completing the basement, upgrades in the master bedroom that may include new fixtures, new carpet, double sided windows. Expensive lighting that may include dimmers and adding wall sconces for a more romantic feel. Upgrades to a home can become very detailed and intimate to the sellers needs.

One of the most expensive things on their to do list is upgrading the kitchen. From kitchen cabinets to new floors, back splash and that very expensive appliance package. The sellers have a right to take those appliances with them when they leave. At the very least a seller may have to replace them with something operable and functional before closing only if the lender requires it. Where does this leave the buyers who have fallen in love with the home and adores the kitchen? First let me give each person thinking about buying a home in the future a quick FYI.  Never assume the appliances automatically comes with the sale. A lot of buyers think if its there when they view the home its included. Remember if the seller is still occupying the home then he/she will more than likely be using them. First review the property disclosures with your agent. What are property disclosures? It's a brief history of the property from the seller. It includes when the home was built, some of the repairs that have been done by the seller since they have owned it. If there have been any insurance claims on the home and other information. It also includes what will be sold with the home. If the appliances are not included have your agent request that they are sold with the home in the contract. The seller may be willing to this.

     If the seller is on the fence about leaving the appliances you must be willing to compromise. A few things you can offer but are not limited to are.......

 Increase your purchase price if possible. Remember you will have to go out and buy those appliances after you move in. After earnest money, inspections, closing cost, and moving cost you may be a little tight in the budget. However appliances are a necessity and one that is an immediate need. If you raise the price of the house a little and the seller agrees you can score 2 points. One you avoid additional cost and two the kitchen remains the way you saw it when you fell in love with it.

Forego some of the repairs in the inspection. If there are a few minor items in the report that your able to do after you move in, do them yourself instead of asking the seller. You can save the seller money by doing this and in return you can ask them to agree to include the appliances with the sell.

Volunteer to take care of the little trash or donation items after the move out  for the sellers. Now there should not be a lot of mess left over. You shouldn't be looking at a heap of work just a few things that need to be taken to the goodwill or your local trash dump. The seller would more than likely greatly appreciate the gesture and in return you can ask for the appliances. Remember this should be written in the contract prior. Also you and your agent should be specific on what should or should not be left there and how much your willing to take.

Be creative and put yourself in the shoes of the seller. Remember if they choose to leave the appliances they will have to purchase new ones. We all know the feeling of buying something expensive and then having to buy it again for whatever reason. You must be willing to compromise to have a happy closing.

Five things you should never do when selling a home!

      
  For most of us our homes are our biggest assets. When we decide to sell that asset we are looking for top dollar and for the buyer to love the home as much as we have. I believe for every home on the market there is a buyer waiting to find it and claim it as their own. Whether the home is a Colonial, Traditional, Victorian, Raised Ranch, Luxury Home or even a Craftsmen how it shows can make or break your bottom line.


      Literally selling the home as-is.....



It's okay to sell the home as-is you will be surprised how many buyers champion the do it yourself concept. However, as-is should not mean dirty and smelly.  For those of you who have worked with me in the past or have read some of my blogs cleaning can be your best weapon in dazzling a buyer. Even on an as-is sale. Do no just limit yourself to counter tops and closets. I can assure you that buyers are looking at corners and baseboards as well. Pay special attention to bathrooms and Kitchens which are two of the biggest selling areas in the home.


    


  Painting the walls loud colors.....
 I have had the opportunity to view and sell many beautiful homes. In my experience I have found that the properties that have the most traffic and gain multiple offers quickly are the homes with neutral colors. Although Fuchsia is a gorgeous color it may be overwhelming for a buyer to see an entire room painted in the color. Neutral colors are calming and it is easier for a buyer to place themselves and their furniture mentally in the home.






      Allowing the homes curb appeal to fall flat.....
 Don't let the phrase its a jungle out there refer to your back or worse front yard. As you know curb appeal is king. In the past I have encountered instances where I have driven buyers to a home they fell in love with online, to having them want to skip the property altogether when they arrived. Overgrown weeds, unswept sidewalks or driveways, raggedy gutters and screen doors, broken outdoor lights need I go on. Tsk, Tsk, Tsk you know better! If you didn't before now you do...

   


  Letting the pets run loose.....
 I am a dog & cat lover so I feel your pain on this one. However, the goal is to sell your home so allowing Fido or Felix to meet the buyer at the door is not a good idea. Some buyers aren't to keen on pets being in the house. Lots of buyers are afraid of animals. I have had many buyers that didn't want to see homes with carpet because of allergies. The added element of a pet in the home can be to much for a choosy buyer to cope with. I am not saying give your pets away once you decide to sell your home. Just tuck them away in a cage or kennel if possible.

Making the home hard to show.....
        This is one of my biggest pet peeves. Accessibility for the buyer is key. If the home does not show it cannot sell. I know it can be tedious working around the buyers schedule but it is necessary.  Most buyers are available to see homes after work and on weekends. I can't tell you how many buyers and agents pass up viewing a property that could be a perfect match because it was difficult to show.

As an FYI if the home is clean even if its sold as-is, If the colors are neutral and a buyer can picture themselves in the home, if the curb appeal is great, if pets are not meeting buyers at the door, and if the home is easy to show that home has a better chance of going under contract quickly.


                  As always thank you for reading my blogs. If I am able to help you in the buying or selling process let me know.

                                                   The Dwelling Specialist
                                                   Who's selling your home?

                                                                   Morrishia Dooley

Solid Source Realty

O-770-475-1130 ext-3815

Direct- 678-886-8353

email- thedwellingspecialist@gmail.com

website-www.galleryofdwellings.com

BLOG-therealestateavenue.blogspot.com

2006 Agent Of The Year!

Thank you for choosing me to be your preferred Realtor for you & your loved ones