Just as you identify house features that are important to you before looking for a new home, you should also do the same in regards to a neighborhood. Make a list of favorable community attributes and prioritize the items so that you can focus on those aspects when evaluating the location of a potential Mobile Eastern Shore home. Determine what is really important to you and your family, what amenities are part of your everyday life, and what would constitute a “deal breaker.” Remember that you will most likely be part of the neighborhood for a long time and will want to be happy there.

Tips for gathering information vital to your search and assessment include the following:

1. Utilize word of mouth

• Ask family and friends for recommendations.
• Talk directly to potential neighbors.
• Visit the school principal, police precinct captain, and hospital director to help evaluate the quality of those institutions.
• Talk to your real estate agent about the status of property values, traffic congestion, and crime statistics.

2. Use the internet and local newspaper

• Check out the HOA rules for the development.
• Look up ratings for nearby medical facilities and schools.
• Investigate house prices, current number of foreclosures, and units presently for sale.
• Look at the demographics of the neighborhood. Is there a variety of age groups? Other children? Families?
• Go to www.GreatSchools.org/ for valuable information about nearby schools.

3. Visit the neighborhood often–in a car and on foot

• Drive/walk there at different times of the day.
• Make note of the traffic situation–not only on the street of “your” Mobile Eastern Shore home but on nearby streets as well.
• Look at the number, type, and condition of vehicles belonging to homeowners. Is the parking adequate to handle both owners and guests?
• Check out the curb appeal of the community. Are homes well-maintained and yards well- tended to and clutter free? Are streets well-lighted, and are sidewalks available?
• Listen for noises which could become real irritants over time. Note barking dogs, train whistles, heavy traffic sounds, bar/restaurant congestion with loud voices. Where are the potentially noisy bus stops, the school playgrounds, the parks? Also pinpoint the proximity of fire and police stations if you’re not a fan of sirens.
• Measure distances to places of importance to you. Think about getting to work, availability of public transportation, accessibility of medical and emergency services, and the convenience of schools and shopping centers.

When you buy a new home, you also buy into the neighborhood, so thoroughly investigating the community before purchasing will go a long way in ensuring the quality of life you’re looking for.

COVERAGE:

• Rebuilding: A common mistake made by owners of Mobile Eastern Shore real estate is to confuse a house’s market value with its replacement cost. Your insurance should cover the cost of rebuilding your home, and the value of the land should not be included in calculating that figure. To determine the replacement cost, most insurance companies use software that considers your home’s features, and most policies include coverage for up to 125% of the replacement cost.
• Liability: In these days of unusually high lawsuit awards, Don Griffin, the vice president of Property Casualty Insurers Association of America, recommends buying an “excess liability” or umbrella policy to cover you for one million dollars beyond what is already covered.
• Personal property: Most policies cover only 50% to 75% of the cost to replace the personal property in your Mobile Eastern Shore real estate. Seriously consider separate endorsements (also called riders or floaters) for some of your valuables such as fine art works, expensive collections (stamps or coins, e.g.), and jewelry. Here is an online property inventory checklist.
• Living expenses: Make certain your policy contains coverage to defray expenses you incur is you are forced to vacate your property while it is being rebuilt or repaired.
• Exclusions: Finally, carefully read the exclusions section of your policy to be aware of what is not covered.

SERVICES:

What you should expect from your insurance company is accessibility, a hassle-free claims process, assistance with the inventory of your Mobile Eastern Shore real estate holdings, contractor recommendations with workmanship guarantees, and home clean-up after a major loss.

Many companies are now going beyond those basics to make their insurance more attractive to home owners. Some of the features being offered include the following:

• Liability renewably: The insurer promises not to cancel your policy following a claim.
• New for old protection: The insurer pays the full cost of replacing your possessions, regardless of age and/or condition.
• Deductible forgiveness: The insurer waives a portion or all of your deductible for large losses.
• 100% protection: The insurer pays the full cost to rebuild your Mobile Eastern Shore real estate even if the amount exceeds the limits of your homeowners policy.

Obviously, there are many factors to consider when buying homeowners insurance and much research to be done before making a final decision. In the case of a major loss, however, the time and effort you have spent will prove invaluable!

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The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

COST:

• The amount of your insurance should cover the cost of replacing or rebuilding your Mobile Eastern Shore real estate holding. That amount is not the same as market value (or even what you paid) since you already own the land. To determine the replacement cost of homes, many insurance companies use software that considers the features of your home and calculates the cost to rebuild. In addition, most policies include coverage for up to 125% of that cost.
• Personal property. Most policies cover personal property at 50% to 75% of the replacement value of the home. Consider adding separate endorsements (also called riders or floaters) for valuables such as fine art, expensive collections, jewelry, etc. How much extra does each of these “extras” cost?
• Explore consumer guides and online sites and interview agents for price quotes. The site for state insurance departments will give you typical rates charged by major insurers in your state. Check Ambest.com and Standard and Poors to ascertain financial stability of the companies you’re considering.
• Don’t consider price alone. Look for quality service and a solid track record. Registered complaint information can be found at NAIC.com.
• Discounts. Many companies will give you a discount in price if you insure both your car and your Mobile Eastern Shore real estate with them. Ask about other discounts for adding preventative devices such as smoke detectors, deadbolts, security systems, storm shutters, roof reinforcement, modernized plumbing, heating and electrical systems, etc. In addition, because they are at home more often and thus able to quickly detect problems, over 55 retirees often receive discounts.
• Credit rating. Since insurers are increasingly using credit information to influence the price of policies, the higher your credit rating, the lower the cost.

• Long -term customers sometimes qualify for discounts, generally 5% for a 3 to 5 year relationship and 10% for 6 years or more.
• Deductibles The higher the deductible (the amount you pay out of pocket for each claim), the lower the premium. Insurers are currently recommending a $500 deductible, but if you raise that figure to $1000, you can save as much as 25%. Your financial situation will be the deciding factor here.

Search all Mobile Eastern Shore homes for sale.

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

SELLERS:

1. Choose a successful, aggressive real estate agent.

You will want someone who is familiar with your neighborhood and will be proactive in selling your Mobile Eastern Shore real estate. Ask in advance about his/her plan for marketing your property and make sure it includes, at the very least, an MLS listing, on-line and newspaper advertising, and regularly scheduled open houses.

2. Remember the importance of curb appeal in attracting would-be buyers.

3. De-personalize and de-clutter your home.

Put away family photos and prized collections. Clear countertops. Potential buyers need to be able to envision themselves, not you, in your home and clearly view the favorable features of the property without being distracted by too much “stuff.”

4. Hire a professional appraiser.

An “expert” third party opinion is quite useful in supporting your asking price.

5. Be realistic about pricing your Mobile Eastern Shore real estate.

Look at recent comps, listen to your realtor’s advice, and be competitive. Don’t let your emotions interfere with price negotiations and understand that a “designer décor” doesn’t make the home worth more.

6. Offer incentives to attract buyers.

Such items might include helping defray closing costs or moving expenses, making repairs, replacing appliances and/or carpeting, etc. You should also consider providing a home warranty program for the first year.

7. Be flexible.

You certainly don’t want to lose a buyer because of a settlement date or a request for a conveyance of furniture, tools, draperies, etc. Keep an open mind in your negotiations and be willing to meet the potential buyer halfway. 

BUYERS:

1. Get pre-approved for a loan.

This will provide peace of mind for both you and the seller of Mobile Eastern Shore real estate.

2. Be prepared before you look.

Have a firm idea of what you can spend and a list of features you must have, would like to have, and can do without if necessary.

3. If possible, list your home before buying another.

Contingent contracts can result in complications, and both sellers and lenders are more comfortable with straight-forward purchases.

4. Look beyond the décor of a home.

Walls can be repainted, wallpaper removed, and appliances updated. What should be important are the location, structural condition, and features of the home.

5. Be realistic about price. Check the recent comps in the neighborhood and stay in that range when making an offer. If you make a ridiculously low offer and make the owner feel that you are trying to “steal” his home, you run the risk of eliminating any type of negotiating.

6. When touring a home, practice buyer etiquette.

Watch your children carefully (or leave them at home), remove your shoes, and treat the seller’s belongings with respect.

7. Get a home inspection.

Better to learn of any defects, problems, or even deal-breakers before you buy.

8. Negotiate in a civil and mature manner.

Demanding is not negotiating, and owners of Mobile Eastern Shore real estate will be more likely to consider making repairs and concessions, offering incentives, and/or adjusting the time schedule, etc., if they feel you are “playing fair” with them. Remember that their emotions are also involved in the selling/moving process and that they will appreciate not having to deal with a contentious buyer.

Search all Mobile Eastern Shore homes for sale.

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

There are many types of easement, both as a permanent arrangement and a limited-time agreement, and the most common ones are the:

• Right-of-way – Allows a person(s) to travel across the land of a Mobile Eastern Shore home.         
• Public entity – Gives utility companies and/or local governments the right to install power lines, sewers, and water mains, etc.
• Other easements
  a. Provides pathways across pieces of property.
  b. Forbids the blocking of a view.
  c. Permits public access to a beach or park.
  d. Allows use of a neighbor’s driveway.
  e. Grants rights to preservation organizations.
  f. Limits types of development on/of the land.

 While in most cases easements extend only along boundaries and have little effect on the value of your Mobile Eastern Shore home, it is important to determine that they do not affect the general use of the property or place any burden on the owner of that land. Owners and would-be buyers should… 

1. Be aware of what easements apply to the piece of real estate

2. Understand exactly what the easement allows and/or prohibits and

3. Possibly obtain an appraisal of the value of the easement.    

Although most easements “run with the land” or pass forward to a new owner, it is sometimes possible to remove them through legal action, such as a quit claim deed or execution of a release agreement by all parties involved. Consult an experience real estate attorney to explore these actions as well as to confirm the presence, scope, and implications of any easements on the property of your Mobile Eastern Shore home.

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

Search all Mobile Eastern Shore homes for sale.

July 2011:This month’s edition covers Mobile Eastern Shore real estate market activity and then we’ll discuss improvement projects that generate ROI.Features special guest Terri Murphy of US Learning.Program length: approximately 7 1/2 minutes   download podcast mp3 file   |   subscribe to podcast feed

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

Search all Mobile Eastern Shore homes for sale.

        1. Down payments: Requirements will be higher. Generally speaking, to get the best interest rate you need to put down at least 20% of the purchase price of the Mobile Eastern Shore real estate. FHA loans are available for a down payment of only 3% to 5% but these loans will include additional costs for insurance and a slightly higher interest rate.

        2. Credit scores: You will most likely need a score of 730 for the best rates, whereas the average score for an FHA borrower is about 690. Financial advisors strong urge you to obtain a copy of your credit report six months before loan shopping (you are entitled to one free report from each of the three bureaus annually at www.annualcreditreport.com ) and examine it carefully to detect any errors/misinformation.

        3. Documentation: Be prepared! Lenders will ask for a great deal of documentation regarding your salary, savings, job stability, debts, and the like. You will need to provide pay stubs for the past 30 days; W-2 forms for the past two years; bank, retirement, and investment account statements; and a listing of debts and monthly expenses. Monthly housing expenses should not exceed 28% of your gross monthly income, and total debt should be less than 37% of that amount. If you are self-employed, you will also have to submit two years of tax returns and possibly a profit-loss statement.

        4. Appraisals: Gone are the days of a sure-thing, easy appraisal. Lenders today want a thorough inspection of both the interior and exterior of your Mobile Eastern Shore real estate, and the less money put down, the more extensive the scrutiny of the home’s market value. It is wise to include an appraisal contingency in your offer so that your earnest money deposit will be returned to you if the appraisal fails to meet the negotiated price.

How can you find the best rates? Check out available interest rates daily and discloses the best “par rate.” In addition, if you provide contact information, the site will forward that information to the local lender offering the best rate.

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

Search all Mobile Eastern Shore homes for sale.

RESEARCH:

            1. The very first thing you need to do is to become familiar with your state’s foreclosure laws. These statutes will dictate what you can and can’t do in terms of purchasing, financing, and selling foreclosures.

            2. Locate foreclosed properties. Search public records, newspapers, HUD listings, magazines/newsletters specifically dealing with this type of real estate, and the Internet. Also check with your realtor.

            3. Check public records for liens and/or encumbrances.

            4. Know the assessed value of the property and comparable sales prices in the neighborhood.

            5. Learn the differences in buying pre-foreclosures, buying them at a public auction, and buying real estate owned (REO) foreclosures.

PREPARATION:

            1. Find a realtor experienced in foreclosures.

            2. Obtain pre-approval from a lender so that you can act quickly when you find the Mobile Eastern Shore home you want.

            3. Tour the property and inspect it as closely as possible. Have the home inspected by a professional if the lender will allow it.

            4. If you’re an investor, determine what the property will rent for.

            5. Explore financing options.

            6. Determine the extent and cost of needed repairs.

PATIENCE AND PERSEVERENCE:

            1. Be prepared for a great deal of paperwork when you buy a foreclosed Mobile Eastern Shore home.

            2. If at first you don’t succeed…try, try again. Know in advance that this type of purchase can be time-consuming, frustrating, and even risky and that it requires time, effort, and very often, multiple tries before being successful.

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

Search all Mobile Eastern Shore homes for sale.

The Mobile Eastern Shore Real Estate Podcast

April 2011:This month’s edition covers Mobile Eastern Shore real estate market activity and then we discuss top tips to help buyers and sellers get the most from their next transaction in the spring market. Features special guest Terri Murphy of US Learning. Program length: approximately 6 1/2 minutes   download podcast mp3 file | subscribe to podcast feed

The Judy Niemeyer Team knows that selling or buying a Mobile Eastern Shore home is a major event in your life. It represents one of the largest single investments you may make in your lifetime. It is, therefore, our Goal to make this experience a seamless one. Whether buying Mobile Eastern Shore real estate or marketing Mobile Eastern Shore homes for sale, we will provide unparalleled professional, quality service and the most productive approach to achieving your goals.

You can contact Judy by email or by calling 251-990-0569.

Search all Mobile Eastern Shore homes for sale.

What If It’s Low?

If the appraisal of your Mobile Eastern Shore real estate comes in low, that doesn’t necessarily mean that you can’t complete the transaction. Your options to rectify the situation included the following:

• You can make up the difference in cash.
• The seller can lower the price.
•  The seller can carry a second mortgage for the difference.
•  You can order a second appraisal
• You can supply a list of comparable sales and ask for a review of the appraisal.

What Does It Include?

Under the Equal Credit Opportunity Act, your lender must furnish you with a copy of the appraisal of your Mobile Eastern Shore real estate if you request one in writing. Appraisals are very detailed reports, but they should include the following:

• Details about the subject property, along with side-by-side comparisons of three similar properties.
• An evaluation of the overall real estate market in the area.
• Statements about issues the appraiser feels are harmful to the property’s value, such as poor access to the property.
• An estimate of the average sales time for the property.
• What type of area the home is in (a development, stand alone acreage, etc.).

Do remember that an appraisal of your Mobile Eastern Shore real estate is not a home inspection and cannot be considered a guarantee that the property is in good condition. Appraisers make notes about obvious problems, but they do not perform tasks done by certified home inspectors.

Ins and Outs of Mobile Eastern Shore Real Estate Appraisals – Part 1