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Homeownership
November 14, 2011 by admin · Leave a Comment
It’s time to take a leap with Homeownership… one of life’s greatest joys!
Reasons that homeownership is so sweet!
You Build Equity with homeownership. When you pay rent, the money is gone and you never see it again. Buying a home does come with some initial costs like a downpayment, closing costs, and inspections. With time you will make that money back and build equity in your home. Historically, homes appreciate by about 4 to 6 percent a year. For the areas that have seen harder times since the recession, experts feel that the housing market will recover. Homeownership is about building long-term wealth. A home bought for $10,000 in 1960 is most likely worth 10 times that in today’s market.
Owning a home builds relationships. Renters tend to see their neighbors come and go quickly. Some people sign year leases while others are in the community for much shorter terms. Apartment complexes also tend to have less common shared space for people to meet, greet, and socialize. Homeowners have yards, walking trails, sidewalks where they can get to know each other. Neighbors stay put much longer (at least three to five years giving everyone time to develop relationships. Research has shown that people with healthy relationships have more happiness and less stress.
Most people buying homes today know that a fixed-rate is the way to go. This means your payment amount is fixed for the life of the term. If your mortgage payment is $650 today, then it will still be $650 a month in 15 years. It’s much easier to budget and make financial plans.
Homeownership means you “own” your own home. You can do what ever your little heart desires…renovate, update and paint. You can landscape, plant trees, put in a pool, add a patio or deck. Wow the neighborhood with your holiday decorating. The bottom line is, this is your home and you can personalize it to your own taste. Most renters are stuck with the same white walls and yucky carpets that have been standard in apartments for years.
Great interest rates! Interest rates are at historic lows 3.5- 4% instead of 6.5% or higher. Huge savings for buyers. Since the recession the Home prices have lowered, making homes more affordable than ever. The market has become a “buyers market” …If you have steady income and some cash for a downpayment, (actually there are even programs with little to no money down)
Give me a call so we can talk about what homes in our area would be a good fit for you. Let’s get you into a home that is right for you! Call Cindy at 585-393-9919 or email cindy.lakebreeze@gmail.com
Things to Look Out for When Buying New Homes
March 11, 2011 by admin · Leave a Comment
While you may have an idea of what your house should look like, you will always have questions regarding the facilities and construction of the house. Your realtor may have helped you in listing down several choices for your new house, but the final decision to which residence you are buying comes down to you.
First time buyers will normally make visits to a couple of properties before coming up with a decision. It is really difficult to gauge several new houses according to their features, so it is advisable that you take pictures of each house and take down notes, particularly on the positive and negatives of each house. This way, you can review and compare notes, allowing you to come up with a better decision.
There are also several things that you should check out when you visit any residence that you wish to purchase. You need to look for things that could cost you additional expenses, which could range from trivial repairs to serious reconstruction.
First, take a look at the water pressure and drainage of the house by tapping on the bathroom, kitchen, and laundry. You can do this by running the tap for a couple of minutes, and drinking the water to test the taste of the water and flushing toilets to check pressure.
While you are at it, make sure that the hot water system of the house is sufficient for your family’s needs. A big family requires more hot water compared to a couple. You also have to look for rust, leaks, and age in the water system. Keep in mind that a defective water system may cost you serious money.
Your new house should give you good insulations, since it allows you to save on cooling and heating bills.
The rooms should be placed strategically. If you are a parent, you want your room to be placed near your children’s bedrooms, so you can easily check on them. It would also help if you have a toilet for every floor for convenience. Having two toilets for a two-floored house is recommended.
The new house should be free from leaky walls, roofs, and ceilings, but just to be sure visit the residence during rainy months is a plus.
Make sure you work with A NYS Licensed Real Estate Broker who has the experience to step you through the buying process. Contact Cindy Alves at Lake Breeze Real Estate.
Home Staging: Myths Vs. Facts
March 11, 2011 by admin · Leave a Comment
With the popularity of today’s home staging shows, many people think they know all about home staging principles. Unfortunately, there are a lot of well intentioned homeowners who have been misinformed. Without any Mentos or Coke, staging myths are about to get BUSTED!
MYTH: I can stage my own house.
FACT: It is very difficult for homeowners to look at their own house objectively. Living in a house, one becomes accustomed to the sights, sounds, and smells of their environment. Asking a professional stager to evaluate your home will allow you to get a sneak peak at what buyers will be focusing on (the good, the bad, and the ugly).
Even though the general public has received their home staging training in one-hour television increments from Lisa LaPorta, it doesn’t mean that they know how to stage a home. There is much more that goes into preparing a house for sale than what is shown on television.
MYTH: Home staging costs too much.
FACT: Home staging does cost, but it also pays! The average cost of a complete staging project is usually much less than your first price reduction. Statistically, homes that have been properly prepared for the market sell before a price reduction is needed. Can it get any better than this? Yes, it can… on the average, the rate of return for a staging project is around 120%; that means if you invest $1,000 in staging, you may receive $1,200 in return when your house is sold. There will be staging costs, but it costs more to not stage! (Statistics cited from www.stagedhomes.com, with permission).
MYTH: A decorated house is a staged house.
FACT: Decorating and staging are almost complete opposites. Decorating involves putting the existing home owner’s tastes and styles into the house, making it personal. Staging involves taking one’s personality out of the house, so the decor is neutral and appealing to the most amount of buyers. Stagers help you and your Realtor market your home as a product by using staging, design, and marketing principles.
MYTH: I will save time if I list my house first and then stage it if is doesn’t sell.
FACT: Actually, it is best to have your house staged first and then have it listed. Think of the importance of first impressions. The greatest buzz about a house is generated when it is first listed. Referring again to real estate statistics, homes that have been staged first, then listed sell quicker than homes that where listed first, then staged. Results don’t lie.
MYTH: Home staging is just a real estate fad.
FACT: Although new to the television circuit, home staging has actually been around since the 1970’s. In some areas of the country it is as common as open houses. The central states are starting to recognize the value of a staged home, not because it is trendy, but because it works!
In this slow real estate market, staging your home is the smartest decision you can make to prepare your house for sale.
There is a popular saying in the real estate industry: “The worst thing that you can do when selling your home is… nothing.” The sit-back-and-see-what-happens way of selling a house is long gone. Be proactive in the marketing of your house, stage your home!
Contact Cindy Alves, NYS Licensed Real Estate Broker with Lake Breeze Real Estate for some helpful tips before listing your home!
Understanding Canandaigua Real Estate Taxes
March 7, 2009 by admin · Leave a Comment
Many homeowners do not understand much about Canandaigua real estate taxes and for this reason can end up in the position of losing their homes. Real estate taxes or property tax is normally calculated on the land value, the location, the county laws, and other factors. Canandaigua Real estate taxes are utilized for the upkeep of roads and other public services like emergency services and other municipal services enjoyed by the local residents. Real estate taxes are also in one way limited to the United States alone but for almost every country worldwide as well. Other names used for real estate taxes are rates and land levies and every homeowner will have to pay them.
How Much in Real estate taxes must I pay?
Real estate taxes are assed according to the sale value of your land or home. Rates are likely to be reassessed each year and normal inflationary increases and land values mean that your real estate taxes will increase with them. There are strict laws in place to ensure that these real estate taxes are paid and if you fall behind you are likely to even lose your home. The bill of rights requires that your property tax bill shows your assessment value of the property and the percentage of the how the figure has been arrived at. Real estate taxes can change according to the local municipal needs and area upgrades that need financing so your real estate taxes can change at any time in relation to municipal budgets.
Do I benefit from Real estate taxes?
Everyone benefits from real estate taxes because this money is used to the good all of all residents. In addition to this there are certain IRS benefits for real homeowners as well. Homeowner, are entitled to deduct payments of real estate taxes that they are paying on their property if you claimed for itemized deductions on your tax return. The IRS allows you to deduct real estate taxes on your main home as well as on any other homes and real estate you own. There are no also limits on the dollar amount of real estate taxes you can deduct either so this is certainly beneficial. For real estate investors with multiple properties and homes, there are also no limits on the number of these houses or properties for which deductions can be claimed for in real estate taxes.
How is Real estate Taxes paid?
When you pay monthly mortgage payment to a bank or financial institution holding your mortgage then the amount generally includes the real estate taxes that have to be paid on your property. The bank or mortgage holder pays these real estate taxes to the proper taxing county authority on their due dates. When your real estate taxes are included in your mortgage payments then you may claim an IRS deduction only in the tax year you actually pay your real estate taxes. You will find the real estate taxes paid for the year on the statement than the bank or mortgage lender gives you on the end of the year mortgage statements.
I am a long time resident of the Canandaigua and Rochester Area. I am a full time Broker/Realtor® serving my clients since since 1996. Member of the Greater Rochester Association of Realtors® and the National Association of Realtors®. 
