CategoriesReal Estate

Real Estate Vocabulary: Do you know what “under contract” and “sale pending” are?

Real Estate, like all the areas, has its own vocabulary, and if you are new to this world and all the hunting process, knowing some of the words will help you in the future. Today, we are going to talk about under contract and sale pending, what they mean, and the difference between them.  

Under contract means that the property has contingencies attached to the contract that need to be reviewed and cleared before closing the offer. These contingencies usually include financing, home appraisal, a home inspection, and sometimes the sale of the buyer’s current home.

Seller’s agents usually take backup offers due to these contingencies falling through and the buyer giving up on the house, so it’s a very common practice on the market. In case you found your dream house and really want it, make the offer and wait, it can still be yours, but remember, you have to wait for the first offer to fall through. 

Sale pending means all the contingencies are already done, in other words, the property is ready to close. So, if you find a house on sale pending, you should move past it, because this house is almost closed. 

It’s important to know that some terms can change depending on the state or region. To be sure where the house is in the sale process, consult your agent to know everything about the property. The more information you have, the better you can make a decision. 

 

CategoriesReal Estate

How to make a right choice and avoid home buyers remorse

Buying a home is a huge decision in people’s lives. However, even if you make all the necessary steps and get a good deal, the remorse after buying a property can happen. Today, we are going over some tips to help you really make the right decision, have all the information about the property, and be very happy with your acquisition.   

It’s important to keep in mind that some remorse is natural. You are making a big change in your life. According to some researchers, 52% of home buyers regret the purchase. So, it is not just with you, that’s a very common feeling. To help with that, you should lower your expectations and be more realistic with all the process. For sure, you will minimize this feeling and enjoy the excitement of a new home. 

In this process, have in mind what comes with homeownership. You are going to have costs after buying a house, like property taxes, routine home maintenance, periodic repairs, property insurance, and utility costs. For someone that rents, that can be overwhelming, but knowing everything before, you can be prepared. 

To help you with the inspection of the house, the best solution is to hire a professional. This way, you can make sure everything will be checked so you won’t have problems so soon in the future. Some of the things you should check are the roof, gutters, and systems, like plumbing, electrical, and heating. 

So, knowing more will make you more comfortable when you purchase your house. It will be a change in your life, and learning everything about the property will help you with the anxiety. If you want more information, go back to other articles in the blog. 

 

CategoriesReal Estate

Perfectly Marries Old and New

When it came to his own home, designer Michael Tomei made his obsession with history clear

“History is fresh! Put that on a T-shirt!”

Michael Tomei was beaming when he logged on for our interview from his apartment in New York City. His genius for infusing modern interiors with furnishings with rich patina is evident in his meticulously-designed, 2,100-square-foot, two-bedroom loft that he shares with his partner, Peter, and a rescue dog named Huxley.

Gut renovating the space in a century-old warehouse building in Manhattan’s NoHo district signaled a major gear-shift for Tomei, who used to conceptualize store displays and fashion shows for brands like Calvin Klein, Balenciaga, and Lanvin. Opening Michael Vincent Design in 2019 allowed him to devote his energy to rescuing old buildings and time-worn furniture, and—not to mention—binge-watch BBC period films for inspiration. “If they have a powdered face and a wig on, or if the men are prettier than women, I’m in,” he jokes.

Thoughtful touches warm up the loft’s minimalist kitchen. Among them is a green slab of Indian marble, a stone vessel sourced from antiquarian dealer Michael Trapp, and the dramatic vessel on the counter by the German artist Roger Herman.

Tomei’s obsession for curiosities from a bygone era is tempered with an attentiveness to contemporary concerns—including how to tastefully add more closet space. Each nook in the loft reflects his intuitive aptitude for seamless juxtapositions between old and new objects: In the dining area, a heirloom mahogany table from the 1920s is flanked by Harry Bertoia’s wire chairs. His grandmother’s chinoiserie cabinet shares the same space as a Jean Prouvé lamp and a pair of handsome bean-shaped sofas from Studio Walrus. One exception is the 1990s minimalist reverie in the primary bathroom. “It’s my John Pawson moment,” Tomei says. “It reminds me of the Calvin Klein store he designed on Madison Avenue in the nineties.”

In the loft’s eclectic sitting room is a sofa inspired by Donald Judd’s winter garden daybed. An Eames lounge chair and accent stools designed by Charlotte Perriand, and Achille Castiglioni’s Mezzadro seat add to the lively caucus of chairs. The narrow room’s gallery wall includes a lithograph by Alexander Calder and a signed issue of Andy Warhol’s Interview magazine.

Having a blank canvas to work with was freeing, Tomei says. “Moving from a conservative co-op building into this loft was a breath of fresh air in terms of permitting and limitation process,” he says. “In my last co-op it took eight months just to get the permit to start my construction. In this new condo I closed on a Friday and started demolition on Saturday!”

Working on the apartment also cured Tomei of the itch to constantly redecorate, as he did with every fashion cycle in his former career. “It’s kind of monumental for me,” he explains. “It’s the first space that I’ve designed for myself that I’m fully content with.” His home doubles as a studio and living showroom for potential clients to experience his design sensibility in the flesh.

The experience of designing an entire space emboldened Tomei to take on rescuing unloved homes in Long Island. He devoted much of the pandemic year to renovating several properties in Bellport, New York, including an old captain’s home from the 1870s, an 1840s cottage, and a midcentury ranch. “Compared to a new build, restoring something requires a lot more care, effort and research, but I’m all about it,” he says.

Origination: https://www.architecturaldigest.com/story/step-inside-a-new-york-city-apartment-that-perfectly-marries-old-and-new

CategoriesReal Estate

Why live in Cinnaminson, New Jersey?

This article today is for those who are looking for a lovely suburb to live in. Today, we are going to present the Township of Cinnaminson that is located in Burlington County, New Jersey. There is a friendly community that welcomes new businesses and new neighborhoods. Cinnaminson has an excellent education system and a local government dedicated to serving citizens fairly and economically. 

About the schools, the township has a great public system with four schools: New Albany Elementary School, Eleanor Rush Intermediate School, Cinnaminson Middle School, and Cinnaminson High School. So if you have kids at school age, this is a great advantage for your family. 

Cinnaminson has public transportation like buses and trains. You can use both to go to places like New York City, Philadelphia, or Delaware. Or if you prefer to drive, the township has spectacular roads. 

The Hummingbird Team has beautiful properties on sale now in the town. There’s a villa that contains 4 houses. The house has a 3 bedroom, 3.5 bath home, an open kitchen with large windows that allow the light to flow in naturally. On the second floor, the master bedroom has a walk-in closet, a bathroom with a jacuzzi, and a beautiful view from the yard. The house has 2 garages as well. 

Contact the Hummingbird team to know more about the house and to schedule a viewing. 

 

CategoriesReal Estate

3 Steps to Take Before Making an Offer

If you arrived here, you have already gone through the long process of looking for a house. Making an offer is something that a lot of homebuyers have many questions about. They wonder if they should just put the money on the table, or if it is a kind of dating—when you have to court and then make a proposal. 

Today, we are helping you with all these questions and showing you step by step how to make an offer and have a good deal for both parties, seller and buyer. When you finally find your dream home, it’s easy to feel pressured to make an offer as soon as possible. However, here are 3 steps to take before making it. 

1. Do your own research

It is important to know everything you can about the property, such as the value, 

the prices compared to others properties in the area, the more information you can get, the better. Remember to learn about how to secure yourself financially, so if you need it, consult a mortgage broker. 

2. Be honest with yourself about what you can afford

Sounds obvious, but you have to be clear on how much you can pay for the house. You have to think about what you can comfortably pay for a down payment, other closing costs, your realtor’s commission, and any repairs you might need to make in the house. 

3. Get preapproved before making an offer 

This is not necessary, but it will make the seller more confident in selling you the property, and you can use this as an advantage to negotiate the price. Knowing this, you will realize how much to borrow to pay for the house. 

These are the first steps you must follow to negotiate when you make an offer for your dream home. Keep following our blog to learn more about this! 

 

CategoriesReal Estate

5 Common Issues When Renting a House and How to Solve Them

Renting a home or apartment can be a dream, as long as you know how to face the most common challenges that you will have. Of course, you don’t want your dream house to turn into a nightmare! Here are the most popular rental woes and how to deal with them. 

1. Noisy neighbors 

While most neighbors will exchange pleasantries, some of them can be a nightmare. One of the most common problems is the noise, which results in a stressful situation where you hear other people. What you can do in this situation is talk with the neighbor and expose the situation to reach an agreement, where you guys will set quiet times and hours that is fine to have noises around.  

Another issue that can happen, is when you have to decide what to do with a tree, for example, that is on both properties. The best solution is to call the landlord or the office you rented the place from and ask them to find the best solution. 

2. Pest infestation

A pest infestation can be all too common for renters, they can live in drains, kitchen cabinets, or in the beds. It’s terrible, we know, but the solution for that is to keep the house very clean, and you can also use apple vinegar to disinfect to give a final touch to the cleaning. 

However, if you still have these issues, it’s time to call a professional team to help you. Remember to contact the landlord or the rental office to make the payment arrangements for that. 

3. Deposit burden

Deposits can be a big pain for the renters, however, they serve to protect the landlord. If something is damaged while the renter lives on the property, that is paid with this money. If you want all the deposit back, our tip here is to take pictures when you first rent the property and write the conditions in the contract when you rent. This way, you can get all the money back from the deposit. 

4. Plumbing disasters

Plumbing issues are very common, some of them just happen, and we cannot avoid them. When this happens, what we can do is to immediately contact the landlord, and try to solve it as quickly as possible. 

5. Unsafe surroundings

If you’re not feeling safe in your new home, our tip here is to change the deadbolt right after moving. It will be an extra expense, but it will bring you peace when you lay your head on the pillow, and of course, lock the doors and windows before going to bed. 

 

Knowing what to do in these most common situations that tenants find themselves in from time to time, it is real relief. We may not think about these solutions when we’re inside the problem, right? Enjoy these tips, and if you still have some questions about what to do, ask a lawyer for some professional advice. 

 

CategoriesReal Estate

5 Things to Know When You Buy a New Construction

Can you imagine living in a house constructed only for you? It is very exciting living in a place where you can literally choose all the details from day one. Any homebuyer with any budget can find a new home for sale. How can you know if a new house is for you? This is what we’re going over in this article today. Here are 5 topics you should take into account if you are buying a brand new home. 

1. Knowing where to look for these houses 

New constructions are not usually listed in real estate services. What happens is that the builders have their own people to sell the house to have more control over the selling process and cut costs. When you’re looking for this type of construction, you should ask your agent to look in certain places, like advertisements online, in newspapers, or billboards.

2. New homes are often sold before built

Generally, builders are going to try to sell as many houses as possible before they start to build. They get financing, map out the site, and start the sales process altogether. They have a model house that the buyers can visit and sell the properties based on the floor plans. You, as the buyer, can usually review some floor plans, fixtures, and finishes. The good part is that, depending on the builder, you can add your personal style in this phase of the construction. 

Be aware that the real estate market can change, so if a project in some area was sold for a price and now in the second or third phase is 10% more, that is super normal. It is just the market accepting the quality of the project. 

3. First-time homebuyers may get a discount

First-time buyers can get the best discounts, because the builders want to offer the project to other buyers saying they already have people interested under contract. This makes the properties desirable. This is the time to negotiate the price down and benefit from the project as well. However, if the sales don’t manifest or if you decide you don’t want the house before it is built, you may lose the down payment. 

4.No space for personal attachments 

Builders don’t have personal feelings for the projects. They are just doing business. On the other hand, when you buy a house from a seller, you may notice these sentiments. Some sellers have raised families in the houses and have put some sentimental value on the property. 

5. Negotiate upgrades

If the project is at the end of the sales cycle, you may not get a discount in the price, but you can try to negotiate upgrades in the house, like hardwood flooring instead of carpet, trimming, or high-end appliances. This is a very common negotiation between the buyers and builders. 

This is the information you need to know if a new construction home is for you. Always try to negotiate, and search for what is in your budget. 

 

CategoriesNews, Real Estate

What to Unpack First When You Move into Your New House

You are in your new home by now, what an exciting day! After the whole hunting process, filing the papers, your dream home is yours. However, you see yourself surrounded by piles of boxes, so the question now is, what do you unpack first? 

After that, so many questions come up: Where are the kitchen supplies? Where are the towels? Where is the dog’s food? We know that organizing a house can be exhausting, but today we are going to give tips on how to put away everything efficiently, and how to make this process as quick and smooth as possible. 

First things first

To start, it is essential that you prepare the house for the arrival of your stuff. 

Clean and prepare your house

It is way easier to clean up the shelves, vacuum, and mop when you don’t have furniture inside. However, if you don’t get to your new place early enough to do the cleaning, hiring a professional to do the job is always a good option. 

Inspect and organize your belongings 

Check all the delivered boxes and the inventory sheet to make sure everything arrived in your new home and nothing is missing. After that, place the boxes in each room that the items belong to so that it will be easier to find things in the house. 

Set up larger furniture and appliances

Setting up the major furniture, like the bed, dresser, dining table, etc., will make it easier to put all the small things in the right place. Have your interior design already planned so that you don’t need to move the heavy pieces after setting up. 

Tend to the necessities

Kitchen 

The kitchen might take a while to finish due to the number of pieces it has. However, it is the first place you should start unpacking because of the cold food in the refrigerator and, of course, no one wants to be hungry during the organization. 

Bathroom 

Another area that is fundamental is the bathroom. For sure, after a whole day of unpacking, you will want to wash away the weariness and the stress of moving, so having everything within reach is the best option. Therefore, you should unpack the toiletries, like soap, toothbrushes, toothpaste, shampoos, and conditioners. After that, put away all the towels and rags. 

Bedding

A long day of moving needs good rest. You won’t be able to unpack the whole bedroom, but the bedsheets, pillow, and blankets are the most important now. Remember to get the curtains up, as well, so that you will keep your privacy and will not wake up with the sun in your face. The rest of the stuff can wait until the next day. 

Kids and pets 

Unpack what they are going to need for the day, for example, diapers, bath supplies, and clothes for the night. For the pets, have their bed, food, and medicine ready for when they need it. 

Keep in mind that you are going to be unpacking for a while. It may take a week or so, but now you know what is more important to organize when you first arrive at your new home. Just keep going until you have finished everything, and don’t freak out with the stress of moving, try to have fun, put on some music, and this can be fun as well!

CategoriesNews, Real Estate

Pros and Cons of Buying a House Near a School

Finding the perfect home is a challenge. Some homebuyers have their preferences when it comes to suburbs or cities, quiet neighborhoods, or busy one. Today, we are going over the pros and cons of purchasing a house close to a school. If you have kids at school or college-aged, this is for you! 

Pros

Affordability 

Many neighborhoods that have schools nearby have low-cost properties. This is because a lot of them are rented by students who can’t afford something expensive. This results in the value of the houses not being so high, so if you are looking for something more affordable, this could work for you. 

Playground Nearby

This is a huge advantage for parents that have young kids. You are not going to need to pack a car to go to a park, as it is walking distance to your home. Some of them have fences, which allow kids to stay safely by themselves, and they may even have basketball courts and other amenities.  

May Increase Property Value

Houses near a school — especially a good school — have increased value due to demand from parents that want to live closely. Many of them are willing to pay more for a property that is close to a prestigious school. Homebuyers might have to increase their budget by 10 – 20% to live in these places, so it is important for sellers to know this.

Kids can walk to school

The good news here is that parents who live close to their child’s school can avoid the pick-up/drop-off lines. Another good point is kids can exercise by walking to school, the parents will save money with bus passes, and they won’t need to wake up so early. 

Cons

Increased Traffic

During the hours for drop-off and pick-up, the traffic could be heavy in the area. Additionally, if the school is really big, it can change the quality of the air and increase pollution. There may be some parking inconveniences as well.

Noisy Neighborhood

A place near a school will have many kids playing together and will be very noisy. For those who like a quiet and peaceful area, this may not be for you. Usually, the sounds cease after school ends, but these places generally have many extra-curricular activities for the kids after school. 

May Be Harder to Sell

Some homebuyers don’t consider buying homes close to schools, even if they are good properties. Another point is that the value of the house can change depending on how good the school is, and a school can either increase or decrease the value of your property, depending on its reputation. 

These are the pros and cons of living near a school. Now you have the know-how to choose what fits best for you and your family! 

 

CategoriesReal Estate

Checklist for Homebuyers: What to look for when you are at an open house

Open houses are a very nice part of the house-hunting process, but it is important to focus on specific details when you go there. Usually, open houses are staged as a home decor event, which is the right thing to do when you want to sell a house. However, as a homebuyer, you should consider looking at some fundamental things, such as windows, storage spaces, electrical outlets, etc. 

Here is a checklist of what you should inspect when you are inside the home you’re considering buying.

Windows: Confirm that they are opening and closing well. Another tip is to see if the window is facing the right direction to let the sunlight in, and make sure they don’t open right in front of your future neighbors, because no one wants to be stalked, right?

Storage Space: We all know when we are looking for a house, one of our main concerns is to have enough space in the closets. Therefore, checking out storage spaces is a smart idea, to see if they have adequate space and if they’re placed in a convenient location. 

Electrical Outlets: When walking around the house, ensure it has plenty of electrical outlets in all rooms — appliances in the kitchen, hair styling tools in the bathrooms, charging stations for your devices, etc. These are necessary details in our daily life that should be remembered when you’re looking for a new house. 

Under Sink Cabinets: Check under the sink cabinets of the kitchen and bathrooms to make sure there are no plumbing issues. If you are not capable of gauging that, hire a professional to help you.   

Water Spouts: To check the water spouts, step outside of the house and confirm if everything looks ok. The ​​runoff from the gutters has to be far from the house, so if it is too close, something is wrong. 

Appliances: If the house comes with some appliances, like a refrigerator, oven, or stove, make sure they are working well. Test all of them before you make an offer, and if something is not functioning, you can use this to negotiate with the owner. 

Basement: It is common in some areas for houses to have a basement, and it is crucial to have it well-insulated to not have mold and mildew problems. To know more about this, check out our post Why You Should Waterproof Your Basement. 

This list contains some of the main things you should look at when you are at an open house, but it does not stop here. There are more items you should check off as well, but these are great ones to start with.  Keep following our blog to learn more information about real estate advice and enjoy the house hunting!