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Florida Real Estate and Housing Markets Revel as Late Mortgage-Payment Rates Drop

Posted on by Jenny Zamora

According to a recent report released by the credit bureau TransUnion, Americans are taking care of the timely payments of their mortgages so much so that the rate of late home mortgage payments has reached a record five-year low. The report, released Wednesday, February 12, reveals that compared to the 5.8 percent delinquency rate in the fourth quarter of 2012, rates improved to become only 3.85 percent in the fourth quarter of 2013.

Key takeaways from the report

 

Apart from being lower than the rate same time last year, the late mortgage-payment rates were also lower than the same year’s third-quarter rates, when 4.09 percent of homeowners were at least 2 months late in their mortgage payments.

TransUnion reveals that the last time mortgage-payment delinquency rates were lower than the current rates, was five years ago – in the second quarter of 2008. And even though the current rates are still twice as much as the rates in 2007, before the housing bubble burst, TransUnion holds that foreclosures will continue to thin down and delinquency rates reduce even further.

The growing job market, lower interest rates, and tight supply are reasons behind the improvement

 

The improving job market, state and federal government incentives to revamp home loans and make them more affordable as well as rising home values are at the core of this improvement.

Real estate agents in Orlando say that rise in property values has been a staple for most U.S. states over the past couple of months and struggling homeowners have also found comfort at the hands of increased job opportunities. The interest rates on home loans have reduced, lending a hand to the housing rebound which was primarily fueled by the tight availability of homes for sale.

Further, the U.S. unemployment rates have dropped and though slow, the growth of jobs has been steady. With several federal and state incentives like that by Florida, job prospects are only getting better.  Upcoming housing markets like those in Florida have greatly benefited from these incentives. Top Orlando realtors, for example, reveal the Orlando real estate industry found several buyers because of Florida’s incentive to entrepreneurs to set up offices and jobs in the state.

The low rates of late mortgage payments have another key driver – the discount on unhealthy home loans that were primarily issued before 2008. Most of these risky mortgages, that went unpaid for a long time were either sealed off and foreclosed by banks or sold to other wealthy buyers. Post the economic downturn of 2008, banks became more strict in lending. Only strong loans that banks were confident about have been passed since then – accounting for a major reason why late payments dropped sharply.

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The 6 Most Common Pests That Can Invade Your Home And How To Prevent It From Happening

Posted on by Jenny Zamora

No one wants their home invaded by pests, and sometimes it can be a major problem before it is even noticed inside the home. Here are a few of the most common household pests and how you can keep them outside where they belong:

Ants

Ants enter homes to find water, sweets or greasy foods. When one enters, you can be sure more will follow due to the chemical trail it leaves. Unfortunately, it’s hard to see just a couple of ants on your floor or counter, and by the time you find them, it seems like there are thousands. To prevent ants, make sure all cracks and openings are sealed. Clear up any moisture problems, and keep areas where food is prepared or stored very clean. Clean up crumbs on the floor and counters more often. If they don’t have something to come in for in the first place, it won’t be as big of a problem.

Termites

Usually, homeowners are unaware of termites until they have caused significant damage. They feed off of your home’s foundation, weakening it and other wooden structures. It is important that the wood in your home does not contact the soil. This gives termites easy entry. Leaks and standing water should be taken care of promptly. If you do have termites, getting the help to rid your home of them is essential to making sure they are all eliminated, suggests professionals who specialize in pest control.

Mice

While mice usually enter your home looking for food, they contaminate much more than they take. They often bring additional pests with them such as fleas or ticks. To prevent mice, all openings must be sealed. Mice can get through the smallest holes and cracks. Mousetraps work well to eliminate one or two visitors. If you have more mice, consider calling a professional.

Fleas

Fleas can carry disease which make their presence in your home particularly disturbing. Unexplained, itchy bites on humans or a pet that scratches itself incessantly are signs that you may have a problem. To get rid of fleas, first treat the main problem, which is likely your pet. The next step is to thoroughly clean your home, and there are products you can buy at most stores to help rid your home of fleas.

Bedbugs

Bed bugs are difficult to spot since they can hide so easily in headboards and tiny cracks. While they do not carry disease, they do feed from humans and cause welts with their bites. They are carried in from the outdoors on shoes or luggage. To get rid of bedbugs, a thorough cleaning and vacuuming is necessary. All bedding must be washed in very hot water to kill bed bugs that remain. You can buy products to spray around your bed to prevent them from returning.

Stinkbugs

Stink bugs, so named for the horrible smell emitted when they are crushed, become plentiful in the fall. Vacuuming is the best way to rid your home of stink bugs. Commercial, non-toxic traps are available as well.

There is no reason why you should have to allow uninvited visitors into your home. These tips will help make and keep your home pest-free.

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Real Estate Purchasing Tips and Guidelines

Posted on by Jenny Zamora

First-time homebuyers of homes tend to miss out on vital clues on the market, thus leading to bad decisions. The following tips will give you the necessary hints to pay attention to so you’ll make your purchase safely and prudently:

  • Check out the prices of homes around the area you’re aiming for. You can do that through a number of easy-to-use websites around the internet. On the other hand, you can contact realtors there the old-fashioned way for more hands-on information.

  • Choose the ones you need based on their affordability. You should do a fair bit of calculation just to make sure you have your finances checked out and on track.

  • One thing you need to focus on is the total price of the housing costs you need to cover each month. If you want to get a good feel of the sum you’ll have to deal with you should calculate the taxes and insurance as well. Depending on the area of the property you’re going for you may have to deal with taxes and insurance that outweigh the mortgage itself so keep your eyes open. Focus on checking properties in an area where you plan on living or buying and call up a local insurance company for an estimate that fits. It would be a good idea to have some information on what you’ll be dealing with once you have your property. There may be ways to take advantage of exemptions and tax laws so make sure you never miss that crucial step.

  • Check out how much you’ll need to pay when you’re closing the costs. The costs of settling should also figure into your calculations. This means you’ll need to cover fees such as settlement, Orlando homeowners insurance, taxes and lender fees as well as the title. Do a bit of research on the subject as these may have changed in time.

  • Check your budget and decide how your new house fits into all of it. Make sure you settle some money aside so you won’t have to deal with financial fallout if things go out of hand with expenses.

  • Talk to real estate agents in your area about the possible changes in the local market. You might get some very useful information that way so you’ll get to find a good reason to buy the property you need.

  • In the end you’ll need to have a solid plan that encompasses the entirety of the picture you’re dealing with. Although purchasing a property might be a great way to settle down, it also has its costs and labor involved. Make sure you keep these upkeep costs in mind and stay focused while you draw your plans.

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Common Types of Homes For Sale

Posted on by Jenny Zamora

Shopping for a new place to call home can be an exciting and stressful time all at once. It’s natural to want to find the perfect house, in the best neighborhood, with all your favorite features and at just the right price, however, this can take quite some time if you jump into your search without really being certain of what you’re looking for. The overwhelming amount of homes for sale on the market can leave you confused, but one easy way to narrow down some of the choices is to decide which style of home you prefer. There are many different architectural options out there, so read on to learn more about key features of some of the most sought-after.

Tudor

Tudor homes became very popular in the 1930s and can actually appear in an assortment of forms, from mansions to more humble abodes. They are well-known for their extravagant construction features such as steeply pitched roofs, cross or overlapping gables, large chimneys, tall, narrow windows with small panes and rounded interior doorways. Many Tudor homes have brick or stone walls coupled with ornamental wood framing, also known as half-timbering. Tudor-style homes are influenced by medieval structures and remain one of the pricier housing options.
Ashland Place Mobile AL 05

Mediterranean/Spanish

Mediterranean and Spanish-style homes often have the same kind of characteristics, the most recognizable being a red-tiled roof. These home designs were first inspired by some of the most beautiful countries in the world and continue the tradition of artistry in construction. They commonly have stucco walls, arched windows and doorways, decorative interior woodwork, wrought-iron balconies and tiles adorning various entry points. Fancier Mediterranean and Spanish homes are often built on properties enhanced with courtyards.
Mediterranean house in Southlake

Victorian

Though they can vary greatly in style, Victorians are still one of the most distinguishable American homes to have been built due to some key features that include steeply sloped roofs, patterned shingles, baroque porches and massive brick chimneys. Victorian homes are frequently compared to the look of a dollhouse with their intricate trim and bright paint jobs. Victorians actually refer more to the time period they originated in, during Queen Victoria’s reign from approximately 1840-1900, than a specific construction technique.
Purple Victorian House

Split Level

Split level styles tend to be one of the most price affordable among the selection of homes for sale. They were designed to separate miscellaneous house activities into different levels. Generally, sleeping accommodations were built on the very top floor over the garage while the middle floor would be comprised of living and dining quarters. Lower levels were constructed for a garage, laundry room and a den-type area.

Bungalow

Bungalows, or Craftsman, houses are low rise with overhanging roofs and charming covered porches. These cozier homes are regularly favored by first-time buyers on a budget who aren’t looking for a lot of space. Bungalows have one or one and a half stories and are assembled with many different worldly influences in mind, especially from India.
Craftsman House

Colonial

Colonial homes favor asymmetrical and simple design, built in a square or rectangular shape with bedrooms on the top floor and living space on the bottom. Colonials don’t vary much from there. They do, however, make a statement with their generous size. Double-hung windows can be found along all sides of these homes with the most elaborate design feature often focusing on the front door.
Josiah Dennis House

Knowing the characteristics that are unique to each style of home and then narrowing down your preferences from there can be very helpful as you begin your examination of all the different homes for sale in your area.

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7 Tips To Furnish A Small Living Room

Posted on by Jenny Zamora

Houses are getting smaller and smaller by the day, at least in packed-up urban spaces. Now, this does impose some limitations on what you can and cannot do with your living space but it certainly does not mean that your small apartment should look any less beautiful than its larger suburban counterparts. Apart from the architectural and décor elements, your choice of furniture will determine the aesthetic appeal and functional utility of your space. If you are buying lounge furniture for a rather cramped living room, here’s what you might want to keep in mind.

Use a lighter color palette

This is one of the easiest ways to give your room an open, airy feel. White, off-white, taupe, and pastels are all neural colors and are easy to mix and match. Light hues also reflect light to make your living room look more spacious. To avoid monotony, use different textures, fabrics, and patterns. Even a self-print helps add depth to the space.

Don’t waste the corners

Every inch of space is precious and you do not want furniture that takes up unnecessary space. Corner modular help you make use of corners that would otherwise be rendered redundant with an odd vase sitting in them to fill up the emptiness. Modulars also give you more seating capacity and leave a more open area in the center of the room.

Choose multipurpose furniture

 

If your living room is small, chances are that the rest of your home is too. Maximize your space by opting for furniture that serves a dual purpose. For example, the ottoman could have underlying storage and the sofa could be pulled out into a double bed. This also enhances the utility of the space, especially if you have to entertain house guests.

Pick furniture with legs

 

Upholstered furniture does give your house a rich, cozy feel but it is also bulky and space-consuming. Light, minimalistic pieces, on the other hand, give an unobstructed view of the floor, thus making the space look larger.  The key is to choose furniture that “looks” light, irrespective of its actual size and weight.

Keep the lines simple

You may be tempted to buy that semi-circular contemporary sofa but can your space really accommodate it? When you are short on space, always choose furniture with clean, straight lines that fit easily against the wall.

Play up the vertical

We often forget that our room also has a vertical element to it and it is surprising how this can be used to give the illusion of a more expansive space. Emphasize the vertical lines by using striped curtains that run from floor to ceiling or a printed/textured blind against a blank wall.

Be careful about the coffee table

 

If you must have a coffee table pick one that is inconspicuous and doesn’t obstruct the view of the room. A small-sized table with clean lines and perhaps a glass top is any day recommended over a large blocky game table. Narrow benches also make for wonderful center tables as they are functional and take up minimal space.

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