Focus On Fixing Your Credit

Image via Unsplash; Article by Alice Robertson.

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Homeownership continues to be the American dream, even for those with less-than-stellar credit. If you are in this boat, then consider these tips from All Racing Products for improving your credit report, saving for a down payment, and getting your piece of the American dream.

If you have poor credit, the first thing you need to do is review your credit report and get your finances back on the right track. When reviewing your report, you want to check for errors. If you notice any false charges or loans you didn’t take out, report this to the credit bureau immediately.

Next, you want to use the information on your credit report to decide what cards or accounts you need to pay to erase any delinquencies. There are several strategies for paying off debts. One is to tackle the largest debt first so you get a big chunk out of the way. The other strategy is to have quick wins by paying off the smallest debts first so you can feel like you are really making an impact.

Either way, you’ll want to watch your spending during this time and avoid taking out any new loans or applying for credit cards.

Saving for a Down Payment

There are a few tactics that you can try to secure a loan for a home even when you have poor credit, and one of the best methods is by making a sizeable down payment. The bank will be less hesitant to provide a loan for a borrower with poor credit because your credit history shows that your ability to pay back loans can be erratic.

A more significant down payment will provide good faith to the bank, and if you are approved, you will also have lower payments that will be easier to pay on time, which will, in turn, rebuild your credit.

If you are short on cash, then consider picking up any number of side gigs, from dog walking to tutoring children online. Once you have more money coming in, create a budget, including all streams of income you have along with all recurring expenses. Determine what expenses you can remove from your budget and where you can save money. For instance, you could stop making daily coffee runs and going out to eat for meals, and instead, make coffee at home and pack your lunches.

Also keep in mind that if you operate a home-based business, you can save with tax deductions for certain business expenses. These savings can free up additional cash to help with your home purchase.

Other Options

Even if you cannot afford the larger down payment, all is not lost. There are other options and tactics you can try. One option is to find a cosigner with good credit to sign the loan documents with you. On the downside, you won’t own the house individually, but you can get the home loan you desire by having someone else that the bank can trust.

You can also try an alternative loan option. For instance, instead of conventional loans, you could look into a Federal Housing Administration (FHA) loan, which is for first-time home buyers, and you only need a credit score of 580 to qualify. If you are active military or a veteran, you may also qualify for a VA loan, which can allow you to get a loan without having to put money down. Best of all, 30 year VA mortgage rates are likely to be much more competitive than conventional or even FHA loan rates.

As you can see, by saving money, creating a budget, and looking at alternative loan options, you can get the perfect home for you and your family.

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Virtual Tour:  https://www.propertypanorama.com/11205-Alpharetta-Highway-Roswell-GA-30076/unbranded

FMLS #7201422

**You will find all of the pictures of the property at the bottom of the FMLS Listing attachment, attached here as well for your convenience. **

Property Details: Roswell Professional Park -Beautiful Two story Office Condominium that has been remodeled with New flooring, Fresh paint, New commode, New carpeting. It features on Top/Main Level Three (3) Private Offices, Large Conference Room, Two (2) Restrooms, Reception area. Serviced by ADT and Comcast Internet, Security Cameras, Stairs from inside lead to Lower Level which offers also Three (3) Private Offices, Huge OPEN Area that can be used for Many Opportunities such as Calling Center, Law Offices, Real Estate Offices, Lender Offices, etc. Seller is a licensed agent in the State of GA and can offer Seller Financing with Excellent terms. Condominium fees include all of your exterior maintenance, common area maintenance of the parking and landscaped areas of the complex, trash, water & sewer. Property is sold as-is. but in excellent condition, all systems work great and space shows beautifully. Seller would also consider selling most of the furnishings, TV and some filing cabinets, desks, chairs, etc. Managed by Roswell Professional Park Condominium Association.

***Agents – Please call the listing agent to schedule the appointment at 404-313-3456.

The above information deemed to be correct subject to changes, errors, and omissions.

Please let me know if you have any questions.

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Critical Tips for Buying the Right Vacation Home in Retirement

Image via Pexels; Article by Suzie Wilson

You’ve wanted to buy a vacation home for many years. Now that you’re in your golden years, you feel it’s time to realize your dream. While purchasing a second home can add joy and relaxation to your life, you should thoroughly prepare because it’s a significant investment.

Not only do you need to find the right home in the right location, but you also must factor in the costs and determine whether or not you will rent it out. Below, Dagmar Sands presents a few essential tips for navigating the vacation home buying process.

Establish your priorities

Your first step will be to determine whether you want to purchase a second home to use for yourself, rent it out, or both. What are your long-term goals? Do you plan on spending most of your time traveling during the first few years of retirement? Would it be better to buy your second home in three or four years? Moreover, if you wish to turn the property into a vacation home, you will want to make sure you can stick with it for the long haul.

Run through the costs.       

Even if you are comfortable with your financial standing, you will want to consider all the costs of purchasing a vacation home. This will help you know how much of a loan you’ll need when you approach lenders. Don’t forget that you’ll likely need to put down 20 percent or more on a mortgage for an investment property or second home, so you’ll need to factor in that cost as well. Vacation Property Online notes that this is a significant investment that could cost you as much (if not more) as your primary residence. With the purchase price of any property you consider, think about the upfront renovations and upgrades you may want to make.

Also, don’t forget that you will need to cover routine maintenance, repairs, cleaning, gardening, security, HOA fees, insurance, taxes, and other expenses. Much of your costs will depend on where you buy the home. Having a firm grasp on what expenses to expect will help you develop a good strategy.

Consider renting out your property.         

Many retirees choose to make their second home an investment property. Along with providing you with a steady income stream, owning an investment home is one of the most tried-and-true methods of diversifying a portfolio. Even if you want to spend a good chunk of the year with your family in the new home, you could rent it out for the other weeks and months.

You will want to establish a legal structure if you rent out your vacation home. You can limit your liability to protect yourself and your assets and receive tax advantages by forming an LLC. You will want to hire an attorney or go through a formation service to ensure your LLC complies with your state’s regulations. Plus, it will save you a significant amount of time and stress.

Choose a location.     

Many seniors purchase vacation homes in a location they are already familiar with. If you go this route, you can just sit back and relax, knowing that you have found the perfect getaway for yourself and your family. If you adore a specific beach, mountain, or lake area, consider it for your vacation home location.

If you are thinking about buying a property in an area you are unfamiliar with, you will need to spend time researching the location and potential properties. It can even help rent a home for a short period to get a feel for the area and the people living together. Whether you are using the second home only for your family or your plan to rent it out, you will want to ensure it has excellent dining, shopping, and other attractions within a reasonable proximity.

Remember the tax implications.      

If you rent out your vacation home for more than 14 days per year, you are required to report all income. But Nationwide points out that you can also deduct various expenses. Talk to your CPA about local and state tax laws that will impact your vacation buying and managing process. And be sure to factor in all tax implications when budgeting for your purchase.

If now is the time to make your vacation home dreams come true, make sure you go at it with a strategy. Consider the tips above as you navigate the decisions in front of you. The more prepared you are, the more you will enjoy this special time in your life!

The Dagmar Sands Blog features the thoughts of real estate pro Dagmar Sands of Real Estate International, Inc. and her newest listings. Reach out to Dagmar today to learn more! 404-313-3456 dagmar@worldclassrealestatebroker.com

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According to the CDC, by 2040, 80.8 million Americans will be older than 65. At this age, downsizing can be a tremendously daunting task for elders and their families. Old age is a delicate period, and older adults require comfort and care to lead healthy lives. Deciding on the kind of care your elderly loved one needs can be complex and overwhelming for seniors and their caregivers. Researching this topic can get very intimidating fast. 

For this reason, Seniorhousingnet.com came up with a tool to help seniors and their families explore the different resources available to them. The self-assessment quiz is perfect for seniors and family members who don’t know where to start. This makes finding the best choice for them easy. It also discusses ways to achieve healthy aging and the different kinds of support for caregivers. You can view it here: https://www.seniorhousingnet.com/advice-and-planning.

Credit goes to: Lee Adams lee@seniorhousingnet.com

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3D Virtual Tour: https://my.matterport.com/show/?m=bBVbqcyAqYx&mls=1

Virtual Tour: https://www.propertypanorama.com/10570-Parsons-Road-Johns-Creek-GA-30097/unbranded

FMLS 7069400

Property Details: BUILDER’s OWN HOME! EXQUISITE one of a Kind European/Contemporary/Modern Home with QUALITY that goes BEYOND what other homes have. Builder built this home with European Cabinets, Material brought from Europe (Windows, Glass, Cabinets, Shelving, Lighting Fixtures, etc.) One of a Kind Floorplan features Oversized Master on Main Level, His/Her Walk-in Closet with Beautiful Shelving, Japanese Toilets that are heated & have remote Controls, Oversized Walk-In Shower w/Marble & Unique Faucets, Tiled Floors, Mirrors that Light UP w/ a Sensor, Double Vanities, Laundry on Main & Upstairs. Second Kitchen in the Garage for European or Asian Cooking, Full Shower in the Garage, Tesla Energy Stations, Two Garage Doors w/ Openers, Garage can Park up to 4 Smaller Cars or 3 Small & 1 Large Truck. Walk Into Paradise when you see this Open Kitchen to the Great Room w/ Unique Fireplace, Pantry you will not believe, it opens from Two Sides, Every Cook will LOVE this Feature. Built-In Refrigerator with Matching Cabinetry, Huge & Unique Ceiling Fan in Great Room, Storage Galore in this Home, Storage Under the Stairway & Built-In the Walls. Home is Energy Efficient, Hot Water in 15 Seconds, Water Purifier System, Intercom System Throughout the Home, Stainless Steel & Glass Stairway, Marble Wide Stairs, Unique Lighting Fixtures, Security System, Energy Thermostats in Each Room, Every Bedroom w/ Private Bath & Huge Walk-In Closets. Outside Patio w/a Gas Grill & Outdoor Kitchen. Wraparound Balcony Leads to an OPEN Deck/Garden Area. Lighting around Entire Home at Night is very Romantic. Northview High School one of the TOP Schools in Georgia. NO HOA fees, home is very private, the area is still developing, and it is ideal for someone who wants to have privacy.  

***Agents – Prequalification Letter is a MUST in order to show this home! Showings for this listing are by appointment only.

The above information deemed to be correct subject to changes, errors, and omissions.

Please let me know if you have any questions.

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3D Virtual Tour: https://my.matterport.com/show/?m=bBVbqcyAqYx&mls=1

Virtual Tour: https://www.propertypanorama.com/10570-Parsons-Road-Johns-Creek-GA-30097/unbranded

FMLS 7069400

Property Details: BUILDER’s OWN HOME! EXQUISITE one of a Kind European/Contemporary/Modern Home with QUALITY that goes BEYOND what other homes have. Builder built this home with European Cabinets, Material brought from Europe (Windows, Glass, Cabinets, Shelving, Lighting Fixtures, etc.) One of a Kind Floorplan features Oversized Master on Main Level, His/Her Walk-in Closet with Beautiful Shelving, Japanese Toilets that are heated & have remote Controls, Oversized Walk-In Shower w/Marble & Unique Faucets, Tiled Floors, Mirrors that Light UP w/ a Sensor, Double Vanities, Laundry on Main & Upstairs. Second Kitchen in the Garage for European or Asian Cooking, Full Shower in the Garage, Tesla Energy Stations, Two Garage Doors w/ Openers, Garage can Park up to 4 Smaller Cars or 3 Small & 1 Large Truck. Walk Into Paradise when you see this Open Kitchen to the Great Room w/ Unique Fireplace, Pantry you will not believe, it opens from Two Sides, Every Cook will LOVE this Feature. Built-In Refrigerator with Matching Cabinetry, Huge & Unique Ceiling Fan in Great Room, Storage Galore in this Home, Storage Under the Stairway & Built-In the Walls. Home is Energy Efficient, Hot Water in 15 Seconds, Water Purifier System, Intercom System Throughout the Home, Stainless Steel & Glass Stairway, Marble Wide Stairs, Unique Lighting Fixtures, Security System, Energy Thermostats in Each Room, Every Bedroom w/ Private Bath & Huge Walk-In Closets. Outside Patio w/a Gas Grill & Outdoor Kitchen. Wraparound Balcony Leads to an OPEN Deck/Garden Area. Lighting around Entire Home at Night is very Romantic. Northview High School one of the TOP Schools in Georgia. NO HOA fees, home is very private, the area is still developing, and it is ideal for someone who wants to have privacy.  

***Agents – Prequalification Letter is a MUST in order to show this home! Showings for this listing are by appointment only.

The above information deemed to be correct subject to changes, errors, and omissions.

Please let me know if you have any questions.

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We want to share with you information about 40 colleges in the state of Georgia for 2022. Please see the following link detailing this information: https://www.intelligent.com/best-colleges-and-universities/georgia/

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3238 Smithtown Road, Suwanee, Georgia 30024. This land is currently listed for sale at $595,000.

Virtual Tour: https://www.propertypanorama.com/3238-Smithtown-Road-Suwanee-GA-30024/unbranded

FMLS 7028445

Property Details: Beautiful Level Lot in Prime location surrounded by Multi-Million Dollar Homes, 1.2 Acre lot that has already been cleared and utilities are all available. This is located in the best location of Gwinnett County near downtown City of Suwanee, All the Amenities (shopping, grocery, dining, park) close to I-85 and near Lawrenceville Suwanee Road. Private area with a $3.3 million dollar home under construction adjacent to this lot. Agents, contact your builders who want to build a home not in a HOA community with restrictions. This is a very beautiful lot. Owner is a builder and may consider building a home for the buyer. For more details email us.

The above information deemed to be correct subject to changes, errors, and omissions.

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Virtual Tour: https://www.propertypanorama.com/3240-Smithtown-Road-Suwanee-GA-30024/unbranded

FMLS 7034504

Property Details: ONE of a KIND CUSTOM BUILT EXQUISITE EUROPEAN RANCH with 5 Bedrooms, Oversized Master on Main Level, 6 Full & 1 Half Baths, 3 Laundry Rooms, Separate Living Room, Separate Dining Room, Great Room, Outdoor BBQ, Brick 4 sided Exterior, 3 Car Spacious Garage with Shower & Sink Area, 12-16 ft Ceilings, Japanese Remote Controlled Toilets, Heated Water Purifier, European Cabinets, European Windows, European Shelving, Luxury Lighting Fixtures, Oversized Walk-In Shower, Unique Faucets & Fixtures, Beautiful Custom Flooring Throughout the Home, Mirrors that Light Up w/ a Sensor, Double Vanities, Tesla Energy Stations in the 3 Car Garage with Garage Door Openers, Built-In Refrigerator in Kitchen, Wine Cooler, Microwave, Incredible & Unbelievable Oversized Closets in All Bedrooms especially Master, Beautiful Light Fixtures & Ceiling Fans Hot water in 15 seconds, Smart Intercom Design for each Room, Every Room Interconnected by Surround System, Safe in Master Bedroom, Internet Data Controls can be set for Alexa or any User via WIFI Security System, Energy Thermostats in each room, Outside Decking around Inground Gunite Swimming Pool that is 11 feet by 45 feet, Beautiful Swimming Pool that sparkles with Pool House (Second Kitchen, Bedroom, Laundry and Huge Walk-In Pantry plus Full Bath with Shower, Privacy at It’s Best on Large lot that is 1.2 acres, additional lot is available for extra $$ to get up to 2.2+ ac. Private In-Law Suite, This builder takes pride in this project and it is all about quality with him. It is built with commercial grade construction materials and will have minimal maintenance for years to come. Aluminum Fencing w/Gated Entry. We are still “Under Construction” but here is the kitchen design, floorplan & bathroom design. NO HOA, Excellent Schools Easy Access to I-85, Shopping, Dining and Downtown Suwanee Center. Schedule Appointment with Agent and Builder to discuss more details. We are featuring all the photos as the home is being built so you can see all the quality that went into the home. All the details were closely monitored by the builder every single day and materials brought from overseas. Truthfully this is ONE of a KIND home ideal for entertainment, privacy, family living and QUALITY that can’t be beat! Your clients will NOT find another home of this quality, privacy and location. Agents, if you want to show your clients how well this home was built – we have been taking pictures throughout the process for them to see – check FMLS #6958259 and you’ll be able to see them all. 

The above information deemed to be correct subject to changes, errors, and omissions.

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Home Issues That Should Make You Rethink Your Negotiations

When you’re getting ready to buy your first home, you may get blindsided by excitement. But, rest assured that now is not the time to jump the gun. There are many practical considerations that you have to put front and center, even when your heart finds the home of your dreams and it isn’t quite up to par.

Real Estate International takes buying a fixer-upper very seriously. It’s a topic worth revisiting since major problems, like a leaky roof, busted HVAC, and cracks in the foundation might mean thousands of dollars and months of inconvenience. In addition to those just mentioned, issues that should send you running the other direction or, at the very least, back to the negotiations table include:

• Faulty electrical system
• Widespread wood rot
• Unclear title
• Pest infestation
• Signs of previous water damage (such as mold and mildew)
• Asbestos
• Damaged or degrading septic system

Keep in mind, however, that if you choose to buy a property with an “as-is” clause, you may inherit these issues, and your seller won’t come down on price. However, in most traditional home buying scenarios, any of these problems should trigger a conversation with your Realtor about what you’re willing to incur and what you’re not. Remember: your real estate agent is the most invaluable resource you have in this instance.

How to Ask for a Lower Price

By the time you get to the home inspection, you’ve likely already made an offer on the home. In today’s market, many other people likely have as well. This doesn’t mean that you can’t come back with contingencies. If your inspection uncovers a problem, immediately bring this up to your Realtor. They can coordinate with the seller’s agent, and you can likely get a quote on the repair. Once a quote is complete, you might then present this to the seller and ask for a lower price, for them to have the repairs done on their own, or for an allowance, which will then be paid back to you at closing. If you’re not yet familiar with the closing process, the Which Mortgage blog explains that this is when all money is put on the table, and you are given the keys to your new home.

In some cases, the seller may come back with a counteroffer. In others, they may accept that other potential buyers will experience the same issues, and they will do what they can to expedite the sale instead of canceling it altogether. Restarting the home selling process is time-consuming, and your sellers probably want to move as much as you do.

I Don’t Like the Color

Now, on to issues that the buyer likely won’t take care of. One of these is a paint color that you don’t care for. While the average cost to paint a room runs around $1,892, this is one expense that you’ll likely have to incur yourself. Your buyer also won’t be willing to change out light fixtures, switch plate covers, or any other cosmetic eyesore as these don’t affect the fundamental value of the home and, in all likelihood, the property has already been priced to account for whether or not it’s been updated to modern standards.

At the end of the day, the seller does not have to agree to any repairs as long as they have been upfront and honest to the best of their knowledge about the condition of the home. However, most people realize that, despite a hot market, there are certain issues in which most people won’t budge. It is often better to negotiate with a guaranteed offer than it is to go back to the proverbial drawing board to start the process all over again. If you still have questions about the types of updates and renovations that should be complete before you buy, talk to your Realtor.

No matter where in the world you’re looking to move, Real Estate International can help you every step of the way. For more information call 770-476-1335.

Article written by John Dunbar johndunbar@housingsecrets.net