Home Buying In Kentuckiana

 

So many questions, so little answers!

Who do I choose for my realtor?  There are several excellent realtors in Kentuckiana to choose from.  Choose one who seems to be knowledgeable about the home buying process.  One who will take the time to find you that perfect home.  Find one whose character you like, one who listens to what you want.  Are they available to show you homes when it’s convenient for you! 

What kind of home do I want to live in?  Are you interested in owning a home with a basement, crawl or slab?  Do you prefer a one story or two? Brick or Vinyl?  Condo, Farm House, Manufactured Home?  How many bedrooms and baths do you need?  Garage or no garage?  Small lot or lots of acreage?

Where do I want to live?  Are you a city person who likes to live next to a park or a country person who likes their privacy?  Are you tied to a specific geographic region or will any town work?  Something close to work or you don’t mind if you have to commute?  

When is the right time to buy a home?  Are you financially ready to buy a home?  Are the interest rates right?  Will you be able to provide the upkeep necessary on a home?  Is my job secure for long term payments?

Why do home inspectors prices differ so much?  Some inspectors just do the minimum, making sure your home inspector does a thorough job is the most important part of the home buying process.  All inspectors are required to be licensed in Indiana and Kentucky but don’t cut corners where it matters the most in your home buying process.  Their are plenty of Desperate Dan’s  in business and needing work.  Even though someone has a license to perform home inspections not all are truly qualified to trust with the condition of your new home.  Look at what others have to say about them, visit their website, call them, talk to them, and judge their character.  Find one you know, like & trust.  Ask what other offers you may be eligible for when you use their service?  Do they charge you full price again if you don’t buy the first home you look at and need a subsequent home inspection.  Last, do they inspect homes full time or are they a weeknight warrior of home inspections?

How do I get started looking for my new home?  Start by finding a realtor you can trust to lead you in your home buying process.  Talk to your realtor, tell them what you’re looking for and what your finances are.  Do not over estimate your income, you want to be able to keep your home and live comfortably in it financially.  Let your realtor help you chose a lender that is right for your circumstance, one who offers the loans that are the most beneficial to you and your situation.  Be honest with what you want!

What questions do I need to ask my realtor, lender and home inspector?  What type of a payment can I afford based on my income?  What are good locations to buy in?  What are the interest rates? What are the taxes on the home?  Are there any exemption filed on the home for tax purposes?  Is it located in a flood zone?   What are the major problems of the home?  What are you required to inspect & not inspect?  What can I do to maintain my new home in good condition?  Although you can ask an inspector whether a home is worth the money or not, a professional inspector cannot advise you on whether the home is a good or bad investment but rather only advise you on the homes condition at the time of inspection.

Where do I get the answers to the questions I have?  Ask your realtor, your lender or your home inspector about any questions you may have.  Be sure you understand clearly the condition of the home and any maintenance that may be required in the future.  To book your home inspection with a qualified Kentuckiana home inspector call 1-866-417-9591.

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Do You Want Top Dollar Out Of Your Home!

When selling a home in Southern Indiana or Kentucky, the biggest selling point is neatness and cleanliness, even when it comes to newly finished homes.  It’s a matter of pride.  Basement walls are painted a light color.  All windows are washed and all trash is hauled away.  Lawns and yards should be cleared of clutter, especially kids toys.  Grass should be cut, walks edged,  and hedges cut.  Give the yard a well kept look .  Clean your house and buildings up, make everything neat.  Exteriors should be washed, painted and repaired if needed.  The garage should be straightened up and its walls painted.  All doors and windows should be in good operating order and clean.  Sellers should consider storing unnecessary clutter elsewhere but don’t store unwanted items in closets.  All plumbing problems should be repaired so that there are no leaks.  Replace all light bulbs with higher wattage bulbs.  When the house is shown, all lights should be on for a well lit presentation of the home.  Bathrooms should be neat, clean and fresh smelling.  Beds should be made.  The appliances should all be clean and all dishes washed and out of the sink.  When a realtor needs to show your home, be polite and leave the home so that the buyers are more comfortable about looking throughand talking about the house.  An hour or so before the buyers are to arrive bake cookies or light a candle to give the house an At Home smell.

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Seven Steps For First Time Home Buyers

1. Educate Yourself About the Mortgage Process – By taking the initiative and learning about the mortgage process, you can be more confident in the financial decisions you are making. It’s important to learn about different types of mortgages, how much you can afford, how your credit impacts your interest rate, and the benefits of home ownership. A mortgage tutorial is available at http://smartedgebygmac.com, which breaks down the home buying process into easy-to-understand steps.

2. Save Just a Little Bit More – It’s not only important to save money for the down payment and closing costs, but it’s important to factor in some of the other costs of home ownership such as decorating, repairs and maintenance. Many mortgage lenders recommend that first-time home buyers have at least three to six months of additional savings in their possession in anticipation of these additional expenses.

3. Check Your Credit – An individual’s credit score will have a significant impact on his or her mortgage loan approval and interest rate. A good first step in financing a home purchase is to check your credit history. You can request a free credit report from any of the three credit reporting bureaus: Equifax, TransUnion or Experian. Carefully review your report and contact the credit reporting bureaus to correct any inaccuracies.

4. Shop Around for a Mortgage Lender – As you start thinking and preparing for the home buying process, start shopping for the mortgage lender from whom you would like to obtain a mortgage for your new home. Because this process is new, it’s easy to go with the first lender or loan officer you meet. Instead, take your time and shop around. Start by asking friends, co-workers and family members for recommendations. When you’ve identified two or three loan officers, ask for references. In addition to pricing (interest rate and closing costs), focus on customer service as well as other services and tools that a mortgage lender may be able to offer you.

5. Get Pre-approved – Before you start working with a real estate agent, consider contacting a mortgage lender to obtain a pre-approval credit decision. A loan officer will review your financial status, including your income, cash flow and credit score, to help you determine the maximum monthly housing payment for which you may be able to qualify, and, if qualified, “pre-approve” your mortgage before you’ve found a home. Armed with a credit pre-approval, you can start searching for homes with a much better idea of your price range, and in turn save time as you will know the right homes to focus on. Obtaining a pre-approval may offer more confidence and certainty to home sellers in your ability to purchase the home.

6. Don’t Be Afraid to Ask Questions – Once you’ve found your new home, the mortgage lender will help you through the details of the loan process. From application to closing, your loan officer will work through the financing process with you, just as your real estate professional should do in the home buying process. Throughout the process, read all loan documents carefully, and involve an attorney, if necessary.

7. Inspect – Before you commit to purchasing a home, don’t forget to hire a licensed home inspector to conduct a thorough assessment of the property. An inspector can alert you to any major problems with the home, and/or help you understand potential short-term and long-term home maintenance issues

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How Temperature Affects Your Inspection!

Heating & air conditioning operation

The heating system may not be tested at the time of inspection if temperature conditions do not allow the system to be operated normally (during warm weather months we will not operate the heating system)  Sytems are not dimantled.  The system type(forced air, hydronic, convection) and fuel type (gas, oil, electric) will be reported.  The operating status of the heating system can change over a period of time.  To assure operating status has not changed since date of inspection, we recommend operating the heating system prior to closing, weather permitting.  Central air conditioning systems will not be  operated unless the outside temperature has been above 65 degrees F for at least 72 hours prior to the inspection. 

Heat pumps

Heat pumps are operated in their current operating mode only.  Due to possible damage of equipment we are not able to test heat pumps in both modes.  Above 65 degrees for a period of 72 hours, we test in the cooling mode.  Below 65 degrees F, we test in the heating mode. 

Heating and cooling inspections are visual and operational.  Weather permitting, we will operate either the heating or AC units in their respective modes.  We will use normal controls and evaluate how well the system is performing its intended function.  Taking into consideration the age of the system, it may need maintenance and repairs in the future and upgrading of the system.  There are some very efficient and economical systems on the market at the time, which may save a great deal on future fuel bills.

The  view of the heat exchanger is very limited due to the design of concealed areas.  A complete evaluation can only be achieved by dismantling the unit, which is beyond the scope of an inspection.

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Home Market Shows Encouraging Signs!

  Home sales rose for the third consecutive month in June, a promising sign that the market is stabilizing.  Home sales last month rose 3.6% with gains seen in all regions of the US, according to the National Association of Realtors but overall home prices continue to decline.  The inventory of homes for sale dropped, meaning there is less homes on the current market.    Compared with a year ago, the number of homes on the market is down 15%.   The housing crisis seems to be moderating.  Home prices, however, are being dragged down by the number of foreclosed homes.  First time home buyers accounted for 29% of home sales, and 30% of the homes sold were distressed properties.  It’s too soon to say the market is turning around, foreclosure rates are still high but the numbers are giving hope to a better housing market to come.  The tax credit of up to $8,000 makes the time to buy a home NOW, the credit  will soon expire in November.

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Do New Construction Homes Need Inspections?

Even though a home may be new, there are still defects to be found. Most people think twice about whether to have an inspection done on a new construction home but truth is a home inspection should still be performed.  Furnaces, Faucets, Windows and Flooring are all new but is everything safe, sound and secure?  Do all doors shut well or are there problems to be found?  Know all there is to know about your new home.  With “Certainty” we will give you the peace of mind your family deserves.  Call us today and schedule your Indiana or Kentucky  home inspection or order online.

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Mortgage Credits-How They Save You Money!

After you’ve bought your new home, the moving in is over with and your finally settled in, don’t forget to file your mortgage credits.  Mortgage credits are deductions and credits that you can file at the court house that will save you money on your property taxes.  You must file them after financing your mortgage even if your only refinancing an existing mortgage.  Following is a list of mortgage exemption that are available in Indiana.  Certain circumstances may apply.

• Homestead Credit- Given to an individual who owns and resides in the property.  It must be the individual principal place of residence
• Solar Energy Heating or Cooling Systems-This credit is given when you have wind power devices, hydroelectric power or geothermal device
• Over 65 Cricuit Breaker Credit
• Disabled-A deduction given to the disabled
• Disabled Veteran- A deduction given to a disabled veteran
• Mortgage Exemption- Given to the owner of the property who carries the mortgage on the property
• Over 65- Given to owners who are over the age of 65
• Blind- Given to those homeowners who are blind
• Veteran with Service Connected Disabilty- Given to those who have served in a war and been honorably discharged
• Veteran World War I  Givn to those homeowners who served in World World I
• Surviving Spouse of World War I- Given to the homeowner who is a surving spouse of a veteran

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Indiana Pre-Listing Inspections

GETTING AN INSPECTION ON A HOME BEFORE IT GETS PUT ON THE MARKET WILL EASE THE HOME SELLER’S FRUSTRATION WITH THE SALES PROCESS    

 As a Kentucky and Indiana home inspector I know there is a lot of frustration associated with selling a home in today’s real estate market.  Prices of homes are down, there’s the ‘mortgage crunch,’ and there are a lot of homes on the market as well.    Home buyers are definitely in the ‘driver’s seat!’  

 

“But one easy and inexpensive thing the home seller can do to get their house sold quicker, with less hassle and often times for more money is to get a home inspection on the home before they list it for sale,” William of Certainty Home Inspections said.  It’s much better for the home seller to understand the issues with the house and deal with them before the buyers arrive in order to increase the chances of  the sale moving forward.” 

 

“Potential home buyers want to purchase a home that is in tip-top shape, no matter the age of the home,” Vance said. There is one secret all home sellers need to know; home buyers make their decision to purchase a home based on emotion and then they justify their decision with logic.   And another thing is equally true: home buyer’s can fall out of love with a home just as quickly as they fell in love with it.

So why allow a buyers home inspector to develop a laundry list of  issues with the home and potentially jeopardizing the sale of the property?  That’s why having a home inspection on the home before you put it on the market makes complete sense.   

 

  A Pre-listing Home Inspection will not only reveal the issues the seller needs to be aware of, but it gives the seller time to obtain multiple bids for the work that needs to be done and to select the best contractors at the best price.   Best of all, having the inspection done before showing the home will make the home more marketable; in better condition for viewing, and help the seller attain the maximum selling price.  

“The intent of my Pre-Listing Inspection is not to find the $200 problems; it is to find the $2,000 problems. These are the things that affect people’s decision to purchase,” Vance said.  These types of problems are generally unknown to the seller and they can be deal breakers. 

 

A home inspection done by a professional home inspector is a thorough, in-depth visual examination of the structure and operating components of the home.  It includes such components as landscaping effects on the foundation, structural components, roofing, chimneys, gutters and downspouts, siding and trim, attics, plumbing, electrical, heating, interior rooms, and the condition of the basement or crawl space.  

 

 “I understand that a seller doesn’t want to hear any bad news,” William said.  But they have to realize that no home is perfect, and as soon as they understand that, they are on the way to making their home more Marketable.  Remember, making your home the most marketable it can be should be their number one goal.  That’s why I recommend having a Pre-Listing Inspection done upfront.”

 

William Troutman of Certainty Inspections serves New Albany, Seymour, Bedford, Jeffersonville, Clarksville, Sellersburg, Columbus, Scottsburg, Salem and Madison  and all of Southern Indiana

We are proud to offer a Free Satellite TV  with every home inspection we provide. 

You can also schedule your own home inspection today online and Make Your Decision with “Certainty”. 

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