13 big threats to your home’s value

Do you know what your home is worth? To you, it may be priceless. But a potential buyer may only notice whether or not there are granite countertops, an open floor plan or a well-groomed lawn when deciding whether to buy and what to pay. To get top dollar, it helps to know what could hurt your home’s value, whether you’re looking to sell now or later. Some factors are out of your control, while others have simple solutions.

Here are 13 threats to your home’s value and a rough sense of their potential impact:

1. Location (high impact)

2. Lack of updates (low-medium impact)

3. Bad floor plan (medium-high impact)

4. Foreclosures in your area (impact varies)

5.  Rental properties in your area (medium impact)

6. Major systems and structures, like A/C or roof (high impact)

7. Swimming pool (impact varies)

8. No garage (impact varies)

9. No fence (low impact)

10. Stigma/History (impact varies)

11. Allergens (low-medium impact)

12. Curb Appeal (low-medium impact)

13. Clotheslines (low-medium impact)

To read more of this article, please visit: http://realestate.msn.com/13-big-threats-to-your-homes-value-1

The time to sell is NOW!!!

Mortgage rates are on  their way back up. U.S. household net worth just hit an all-time high. These are among the reasons why Zillow CEO Spencer Rascoff says it’s now time to sell your house. In an appearance on CNBC, Rascoff says “an ongoing lack of supply  — the result of people still trapped by negative equity — and steady demand will only drive rates up further in coming years, that means it’ll be more expensive to buy a home at a given price down the  road than now”.

“If you have any equity in your home and you’re thinking about selling in the next couple of years,” he continued,  “ it’s probably best to sell now, even though home values are continuing to  rise. Imagine  yourself buying a $300,000 home today, and in four years you may want to trade  up to a $500,000 home,” he said. “That home is not just that much more  expensive—but because mortgage rates are going to be higher—it’s significantly  more expensive. So the trade-up market is going to be very troubled in a couple  of years”.

Read more and view a clip of Rascoff”s CNBC interview, please visit:  http://www.businessinsider.com/its-time-to-sell-your-house-2013-6#ixzz2W7Z5pC98

Farewell 3% mortgage rates!

In the past month, rates  have been on the rise and they are expected to continue to climb. This week, the average  rate on a 30-year fixed-rate mortgage jumped another 10 percentage points to  3.91% and are up from 3.3% in early May, according to mortgage giant Freddie  Mac. Meanwhile, those seeking a 15-year loan received an average rate of 3.03%,  up from 2.56% — a record low.

“It’s unlikely that rates  will ever be that low again,” said Doug Duncan, Fannie Mae’s chief economist. Those who didn’t take  advantage of record-low rates have missed the boat — at least for now. Here are  three reasons why:

Read more: http://www.wesh.com/news/money/Farewell-3-mortgage-rates/-/11787962/20445912/-/fk4c11/-/index.html#ixzz2W1yVNIOY

May Statistics for Home Sales

Price per sq ft:            $94.12

Price per sq ft: (April) $91.06

All cash deals:            $43.10%

Conventional:             $37.93%

FHA:                           $12.07%

VA:                             $3.45%

Other:                         $3.45%

Five questions to ask before hiring a real estate agent

Want to sell your property quickly? Looking for your dream house? Are you hoping to get the best deal possible during the complex process of buying or selling a home? With so much money – and often, emotion – at stake, going it alone is generally not the best way to reach your goals. The secret for getting exactly what you want: Work with a savvy real estate agent. A qualified real estate agent will streamline the process, help you save money and serve as a liaison with your best interests in mind. But how do you find the right real estate agent? Hundreds or even thousands of real estate professionals may work in your area, but finding the best one for your unique situation doesn’t have to be time-consuming. Remember, you’re hiring this individual for his or her expertise and services. You want someone who will work hard for you, but also someone you are comfortable with because you may be spending a lot of time together.

1. How many buyers/sellers have you helped in the last year?

2. Do you have advanced training?

3. What services do you offer?

4. Who else will be working with me?

5. How often will I hear from you?

Here at The Wemert Group, we’ve have these answers ready for YOU! Call us today! 407-412-8488

To read more, please visit: http://orlandohomeinspectionnews.com/five-questions-to-ask-before-hiring-a-real-estate-agent/

Rising prices & minimal inventory challenge buyers during spring

Orlando traditionally experiences its biggest home-buying rush in the spring, but this year buyers are challenged by the double whammy of double-digit home price increases and a depleted inventory. The median price of existing homes sold in Orlando during the month of April leapt nearly 24% under the influence of bidding wars, above-price offers, and rising listing prices. In addition to the overall median increase, each individual sales type experienced a year-to-year median price increase in April, with short sales leading the way with a 20.53% jump. The median price of foreclosures increased 12.25%; the median price of normal sales increased 10.56%.

To read more, please visit:http://www.orlandorealtors.org/news/125205/Rising-prices-minimal-inventory-challenge-buyers-during-spring-home-buying-season-.htm

Top 10 tips for buying a house!

1. Don’t buy if you can’t stay put.

2. Start by shoring up your credit.

3. Aim for a home you can really afford.

4. If you can’t put down the usual 20%, you may still qualify for a loan.

5. Buy in a district with good schools.

6. Get professional help.

7. Choose carefully bewtween points and rate.

8. Before house hunting, get pre-approved.

9. Do your homework before bidding.

10. Hire a home inspector.

To view the full report, visit: http://money.cnn.com/magazines/moneymag/money101/lesson8/index.htm?iid=TL_Links