Tag Archives: Real Estate

Tara Mortgage Services Featured Blog: Is It The Right Time To Get a Home Loan?

DHREA 17/12/2019

The question of when it’s the right time to buy a home has been asked by countless. And the answer to that largely depends on what one means by “the right time.”

When is it the right time to buy according to the market? When is it the right time to buy according to your current financial situation? When is it the right time to buy considering life goals and opportunities?

As you can see, the “right time” is a very personal thing. Let’s go in-depth and look at each of these situations. Remember to contact us for a personalized recommendation and get matched with a mortgage loan program that fits your right time.

The Real Estate Market and the Right Time to Buy

Buyer’s market. Seller’s market. Even seasoned real estate investors can have trouble nailing down the “right time.” But there are a few things to help you gauge whether the market is right for buying:

1. Price trend in your desired area: Comparing the historical home costs gives you valuable insight as to whether you can expect prices to rise quickly or stay steady. It’s useful to compare those trends with other areas in the county to see the bigger picture for asking price and home sales.

2. Home sale trends: If home sales seem to be moving slowly, it’s a good indicator that it’s a buyer’s market and likely the right time to buy. Sellers will be more willing to negotiate, and there will be less competition.

3. New construction slowing down: You’ll want to watch out for lagging construction as this can mean housing will be in short supply, driving prices and competition up.

4. Interest rates: Another number you want to look at is interest rates. Now this one is a little tough since rates are changing all the time, and there’s no absolute way to predict what it will be next week or even tomorrow. However, there are several key indicators that true mortgage professionals look at to gain insight. Working with a trustworthy professional is key as they can guide you when the right time to buy is considering mortgage rate trends.

Your Finances and the Right Time To Buy

The market and current mortgage rates play a critical role as to whether it’s the right time to buy a home, but so do your finances. You may have heard that you need to save 20% for the downpayment. If you don’t have 20%, you may think it’s not the right time to buy. However, certain loan programs let you purchase a home with as little at 3.5% –some even less than that! Even a struggling credit score may not affect your “right time to buy.” Government-backed home loans allow banks to issue great loan packages to buyers with lower than average credit scores. If fear of getting denied a home loan due to low credit has been holding you back, now is the RIGHT time to discover the possibilities.

Life Goals and the Right Time to Buy

With the above mentioned in mind, let’s now consider your life goals. Are you ready to set roots –at least for five years –in one community? Ready to invest with long-term payoff? Tired of renting and the inability to make customize your home? If these sound like you, then now is the right time to buy.

Even in less than favorable real estate markets, great rates and life circumstances may mean that it’s your right time to buy. Get a custom rate quote! Our mortgage office is dedicated to truth in lending and personalized service. Contact Tara Mortgage Services today to learn about your mortgage options and discover if it truly is the right time for you to buy!

(This blog was originally published at tara-mtg.net)

Network with over 700 Real Estate Investors! Join Alex Deacon’s Real Estate Networking Group on MeetUp.com, and be one of the first to receive updates on upcoming events!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
744 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Join Alex Deacon’s fast-growing Pittsburgh Landlord Group on MeetUp.com! Connect with other Landlords for monthly seminars with Q & A! Click below!

Pittsburgh Landlord Group

Carnegie, PA
244 Members

This is a great venue for Real estate investors, real estate agents and property managers to expand your knowledge and to help others in the field of being a landlord. We will…

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

Red Tree Mortgage: https://www.redtreemtg.com/

Read More

Tara Mortgage Services Featured Blog: Avoid These Mistakes When Bidding on a Home

DHREA 05/12/2019

The only thing worse than not getting the home you wanted is not getting it because of an avoidable mistake. While working with a real estate agent certainly helps — and we recommend it — buying decisions are ultimately in your hands, so you want to be as prepared as possible.

Do you know someone else that is considering buying a home, too? Send this article to them! They’ll be thankful for the helpful advice and happy that you thought of them.

Top 10 Mistakes When Home Shopping

Not Being Ready To Make An Offer

Looking at properties without a pre-approval letter is like leading a toddler to a candy store knowing you forgot your wallet at home. You won’t like the result. A pre-approval letter is as good as money in the back when home shopping. It communicates to the seller that not only do you love the property but that you’re serious about purchasing it.

True, sellers may want to collect a few offers first, but many are just as eager to sell their property as you are to buy it. Giving a fair and attractive offer fast may be just the thing that will get you into your dream home.

Getting pre-approved is much easier and faster than it was a few years ago too! You can get started right now using our online application. It’s secure, convenient, and the quickest way to know how much you qualify for.

Hesitating Too Long Before Making An Offer

Of course, you’re allowed to hesitate. It ‘s a big financial decision, and emotions can run high. But don’t let uncertainty slow you down too much.

When it comes to real estate purchases, time can stifle and even kill the deal. You see, the longer you wait, the more competitors you’ll find. And a bidding war means you’ll ending pay more or even get outbid, missing out on the property altogether.

This is also where being prepared with your approval letter comes in. If you’re hesitating because you still need to apply for the loan, there’s a high possibility that you’ll miss out on that property.

Going All-In On Your First Bid

The next mistake is to put all your chips on the table –meaning offering your max pre-approved amount on the first round. What you want to do instead is look for homes that are below your maximum approved. That way, you have some wiggle room for bidding a bit higher on the second round (while others will be unable to because they didn’t read this article and bid max on their first round).

These trick also helps when going against all-cash offers, too. All-cash have a reputation of being tough to outbid because they’re attractive to sellers. But if they’ve gone all-in on their first bid, your higher loan-backed bid can take them out of the competition.

Going In Too Low

On the same note, you don’t lowball either. Sometimes home shoppers make an offer to negotiate, and it backfires. Remember that your goal is to buy the home, not get into a negotiation.

Instead, your first offer should be one that is fair for the house and the market while remaining under your max bid amount. Your real estate agent can help you with this one but do your homework as well. Research similar homes in the area to see how much they sold for and how long they were on the market. Compare the features as well as the square footage as it also affects what a fair offer would be.

Passing on The Inspection Contingency

Perhaps they didn’t want to ruffle the seller’s feathers, or maybe they thought that new constructions wouldn’t have flaws. Whatever the reason may be, we’ve seen too many homebuyers make the mistake of declining the home inspection contingency.

A home inspection contingency gives you peace of mind. It uncovers potential flaws that may require major cash to fix. If the damage is severe enough, it could offer a way to legally back out of the deal.

Whether it’s a new home or a jewel from the 1950s, always get a home inspection.

Letting Too Many People Have a Say

This mistake is tied to the second one we mentioned about hesitating. Letting people who are not financially invested in the purchase could slow you down or make you second guess your first thoughts. Yes, having advice from your mother or a friend is valuable, but their helpfulness may be too protective. If your “advisor” is the type to focus on flaws or tell you “shop around” when they think you’ve fallen in love too fast, it might be better to shop without them.

Funding your dream home is what Tara Mortgage Services does, and they’re the best at it! Contact us Tara Mortgage Services to work with a mortgage professional that cares about your home buying goals as much as you do!

(This blog was originally published at tara-mtg.net)

Network with over 700 Real Estate Investors! Join Alex Deacon’s Real Estate Networking Group on MeetUp.com, and be one of the first to receive updates on upcoming events!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
742 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Join Alex Deacon’s fast-growing Pittsburgh Landlord Group on MeetUp.com! Connect with other Landlords for monthly seminars with Q & A! Click below!

Pittsburgh Landlord Group

Carnegie, PA
239 Members

This is a great venue for Real estate investors, real estate agents and property managers to expand your knowledge and to help others in the field of being a landlord. We will…

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

Red Tree Mortgage: https://www.redtreemtg.com/

Read More

Tips for Ensuring a Smooth Move for Seniors!

DHREA 01/11/2019

Moving can be overwhelming for anyone, let alone some of our great seniors. Here’s some tips to make their move as easy as possible.

1. Communication and Choice

Seniors can be emotionally vested in the home they’re leaving, and it’s expected that there will be sadness and apprehension about the move. It can be a tough conversation to have with your aging parent, but give them time to grieve the change and talk about where they will be living and why they are moving, in order to help make the transition smoother. When seniors are asked to leave their longtime homes, a frequent cause of distress is their perceived loss of control, so give your loved one as much choice as possible as they plan and implement the move.

2. Plan Effectively

Before families begin the sorting and organizing process, it will help to have a visual of what they are getting into. What rooms need to be furnished? How many square feet is the new residence? Writing for AARP, Ann Goyer recommends plotting the floor plan of your loved one’s new home on graph paper, and suggests cutting out pieces to represent furniture.

3. Enlist Relatives

This will undoubtedly be a big job, so enlist help from your family. Encourage siblings or other close family members to take a few days off of work. Even children and younger members in the family can participate. Surrounding your senior parents with loved ones who are supportive and encouraging could help ease the emotional stress of moving as well.

4. Sort and Organize

Moving your elderly parents will involve downsizing. Go through the house item by item with your support team. You can categorize objects to make the process easier: items to be moved, keepsakes to be left with family, items to be sold or donated, and items to be thrown out. Don’t allow yourself to become a packing robot lacking feelings. Honor the emotional attachment to personal belongings and allow your senior parent to reminisce as you help sort out their possessions. Remember, these are not just things you’re moving; they’re memories. Also, be open to your own emotions, especially if this was your childhood home.

5. Clean and Repair

After the organizing and packing is complete, there is work that still needs to be done. Whether the house is going to be sold, rented or passed on to another relative — the general requirements are the same. The house should be cleaned, and they should consider making any required repairs now before any get worse. It’s better to take care of maintenance issues all at once rather than dealing with them later while the house is for sale (or after renters move in).

6. Plan the Moving Day

There are a few different strategies for moving your senior loved one into their new home. A full service mover is the easiest way to go, but also the most expensive. They will load everything, deliver to its destination and put things in place. We looked at quotes from movers and found the cost of moving the contents of a two bedroom home across the country exceeds $6,000.  Families can save some money on the move by using a self-service mover, which means their family will load the moving truck, but the cargo will be hauled by a professional mover.  Then there’s the do-it-yourself (DIY) option where you can rent a moving truck or trailer. But, even the DIY option of renting a U-Haul or Ryder is not cheap: a move from Atlanta to Los Angeles in a 26 foot truck could exceed $3,000 when you factor in gasoline.

Of course, each family’s circumstances are unique, so we’re hesitant to give blanket advice. However, I hope these tips help you better plan and execute your elder loved one’s next move!

Network with over 700 Real Estate Investors! Join Alex Deacon’s Real Estate Networking Group on MeetUp.com, and be one of the first to receive updates on upcoming events!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
738 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Join Alex Deacon’s fast-growing Pittsburgh Landlord Group on MeetUp.com! Connect with other Landlords for monthly seminars with Q & A! Click below!

Pittsburgh Landlord Group

Carnegie, PA
227 Members

This is a great venue for Real estate investors, real estate agents and property managers to expand your knowledge and to help others in the field of being a landlord. We will…

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

Red Tree Mortgage: https://www.redtreemtg.com/

Read More

Control Mold!

DHREA 24/10/2019

Mold spores can be frustrating to homeowners, renters, and investment property buyers. From potential health issues to property damage, mold is often one of the most overlooked pain points for any property. Here is a list of tips and tricks to help reduce exposure and minimize growth inside your home and property. Some are common sense, some are things we all overlook. Whether you’re sensitive to mold spores and want to protect your health, or you simply want to protect your home or investment, check out the list I compiled below!

Exterior:

  • Avoid outdoor places where mold is likely to be in high concentration. These include shady areas, compost piles, kennels, and piles of leaves, grass, or straw.
  • Promptly repair and seal leaky pipes and roofs.
  • Have the yard mowed and raked regularly.
  • Keep rain gutters clean. Clear leaves and debris from drainage areas around your home and yard.
  • Store firewood away from the house.

Interior:

  • Cleaning your house regularly and properly can help reduce mold.
  • Clean with a commercial anti mold product. Choose a product containing a mixture of bleach and detergent or make your own anti mold cleaner. Mix 1 tablespoon chlorine bleach and 1 quart of water.
  • Clean carefully, especially in areas where mold is likely to grow, such as bathrooms, kitchens, and basements.
  • Empty refrigerator drip pans and thoroughly clean them with a commercial anti mold product.
  • Keep garbage cans and trash compactors clean and free of mildew.
  • Store things carefully. Don’t store newspaper, clothes, and other items in damp areas because they can become moldy. Store only completely clean and dry clothing and shoes. Even small amounts of grime can stimulate mold growth.
  • Throw away any moldy foods lurking in your refrigerator and cupboards.

Air Circulation:

  • Use a fan in the bathroom to remove damp air. If you don’t have a fan, open a window and consider having a fan installed. In bathrooms without windows, open a door when you’re finished, and consider using a dehumidifier.
  • Use a dehumidifier to dry out a damp basement, but be sure to empty the water from it and clean it regularly. Water left in dehumidifiers allows mold to grow.
  • Don’t use humidifiers or vaporizers. Putting extra moisture into the air encourages mold growth. If you choose to use these appliances, follow the manufacturer’s instructions about regular cleaning. Even special humidifiers designed to lessen mold growth require regular and thorough cleaning.
  • Ventilate closed rooms by opening doors and installing fans.

Miscellaneous:

  • Avoid sleeping in areas of the house that are below ground level.
  • Don’t put carpeting directly on concrete or damp floors. The carpet may become moldy.
  • When painting damp areas, choose mold-inhibiting paints. They can be found at most paint stores.
  • Remove all carpets and wallpaper with visible mold or mildew.
  • Don’t over-water plants. A few household plants probably will not cause problems if you’re mold-sensitive, but standing water promotes mold growth.
  • Keep windows sealed tightly. You may need to replace weather stripping on older windows.
  • Eliminate dark areas. Most mold needs darkness to grow. In the basement or in closets that tend to be damp, install a light on a timer. Add windows or skylights to dark rooms.

 

(Editor’s Note: These are merely suggestions and what has worked for others in the past. Results may vary.)

Network with over 700 Real Estate Investors! Join Alex Deacon’s Real Estate Networking Group on MeetUp.com, and be one of the first to receive updates on upcoming events!

Alex Deacon Real Estate Networking Workshops

Carnegie, PA
738 Members

Learn investing from a local expert with a vast amount of experience in the Pittsburgh market. Alex started investing in 1993. We will review hands on examples, analysis, and …

Check out this Meetup Group →

Join Alex Deacon’s fast-growing Pittsburgh Landlord Group on MeetUp.com! Connect with other Landlords for monthly seminars with Q & A! Click below!

Pittsburgh Landlord Group

Carnegie, PA
224 Members

This is a great venue for Real estate investors, real estate agents and property managers to expand your knowledge and to help others in the field of being a landlord. We will…

Check out this Meetup Group →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

Red Tree Mortgage: https://www.redtreemtg.com/

Read More

Pittsburgh Landlord Group Meetup on Thursday, August 15th!

DHREA 07/08/2019

Join us for “Eviction Process Do’s and Dont’s” with our host Alex Deacon and guest speaker Attorney Matt Beam. We will be discussing the proper legal procedure and protocol for starting and finishing an eviction. Also we will dive into the appeal process which is now so much easier for tenants to initiate. Matt Beam has over 10 years experience in this field. Please RSVP since we only have seating for 20!

Eviction Process Do’s and Dont’s

Thursday, Aug 15, 2019, 6:30 PM

552 Washington Ave
552 Washington Ave Carnegie, PA

11 Members Attending

Join us with our guest speaker Attorney Matt Beam. We will be discussing the proper legal procedure and protocol for starting and finishing an eviction. Also we will dive into the appeal process which is now so much easier for tenants to initiate. Matt Beam has over 10 years experience in this field. Please RSVP since we only have seating for 20.

Check out this Meetup →

Visit our affiliates!

MACE Property Management: www.PittsburghPropertyManagement.com

Tara Mortgage Services, LLC: www.Tara-MTG.net

HDH Settlement Services, LLC: www.HDHTitle.com

Burkhead Insurance Services: Burkhead.Insure

Bin There Dump That: www.PittsburghDumpsterRental.com

Red Tree Mortgage: https://www.redtreemtg.com/

Read More
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