One-Stop Real Estate Shopping

At Real Living, we believe in one-stop shopping. When making one of life’s biggest decisions, the process should be simple and hassle-free. Our agents are dedicated to providing clients with all the services that are vital to the real estate transaction.

Here is a list of services that Real Living and its agents offer to help make the home buying and selling process more enjoyable.

• Web 2.0—These online tools make the buying and selling process more personable, easier and more convenient. MyRealLiving allows you to save searches, share information with friends, family and agents, track the number of online visits to your home and more.
• 360 Marketing—This system helps ensure that when working with your agent you can buy and sell your home faster.
• Mortgage—Real Living Mortgage, an affiliate of Wells Fargo Home Mortgage, whether you’re financing your first home, moving up to a bigger house, buying a retirement home or even refinancing into a fixed rate mortgage, Real Living Mortgage has the tools and information you need to help make the right decision on your new home loan.
• Title—Real Living Title Agency, partners with the nation’s largest and strongest title insurance underwriter, Chicago Title, provides consumers with the very best title services while securing their new home purchase. Services include title searches, examinations, title and closing.
• Warranty—Providing you with peace of mind and a smooth transition into your new home, Real Living Warranty, works to protect you from unexpected breakdowns, repairs and associated costs for one full year.
• Relocation—Whether you are moving across the country or just to a neighboring state, Real Living Relocation will help ensure that you are knowledgeable and comfortable in your new location—all while helping you to find your dream home.

With the best Web site in the real estate industry, the best marketing tools in the business and agents dedicated to helping clients with every detail of the transaction, Real Living is the one and only place for simple and hassle-free, one-stop real estate shopping.

Have you had a positive real estate transaction with Real Living? Let us know!

Understanding Closing Statements

You found the home of your dreams and with closing date fast approaching that means paper work time! Before signing by the “X” it is important to be familiar with what you are signing. Here is a breakdown of a settlement statement.

A U.S. Department of Housing and Urban Development (HUD) statement, also known as the settlement or closing statement, is a financial overview of all transactions. It is used by the closing agent to itemize all charges to the borrower (buyer) and the seller during the process.

Section J, Summary of Borrower’s (Buyer’s) Transaction – In Section J, you will find a breakdown of the gross sales price of the property and amounts owed by the buyer.

You will also find entries for funds the buyer will receive at closing such as credits for the amount of earnest money paid, amount of the new loan and miscellaneous items paid by or on behalf of the buyer. Bills that the seller has not yet paid but owes all or a portion of such as real estate taxes will be shown in this section. The total of all items is then added to the buyer’s proceeds.

A summary of the total amount due to the buyer and items paid by or for the buyer is also highlighted in Section J. The bottom line shows how much money the buyer must bring to a closing – a negative number means that the buyer will receive money back at the closing.

Section L, Settlement Charges – The numbers in this section, found on Page 2, are totaled before being brought forward to Page 1. The individual areas under Section L deal with commissions paid to agents, loan fees (which are most often paid from buyer’s funds), charges that the seller requires, escrow funds, title fees, charges such as costs for recording deeds, mortgages and fees for tax stamps, and survey fees and inspections for things such as pests, home warranty, etc.

During the entire home-buying process be sure to be very clear during contract negotiations as to who is going to be paying for what costs, because what is written on the contract is what will be finalized on the settlement statement.

And always, be sure to ask your REALTOR® if you ever have any questions.

Add a Touch of Class without much Cash

Use paint to add subtle, decorative details to a room! It’s a great way to change the feel of a space without breaking the bank. Simply apply a new color, stencil or texture to dramatically change the ambiance of an interior space.

Here are some great examples of how just a small change can make a big difference.

Before & After

Photos from http://www.portlandhousepainting.com

Color
Color is often one of the first things people notice about a room. When choosing a color, it’s important to take into account the mood you want to create in the room, the size of the space, what colors already exist in the room, as well as light sources. In low light, dark colors could look black. In strong sunlight, light colors could appear washed out. Most importantly, make sure to test your paint samples in the room to be painted. Observe them at different times of day and in different lights.

Techniques
There are many techniques that can be used to give character and feeling to a space. Texture and special finishes provide added depth to a room. Imitation Venetian plaster can produce an old-world, Italian feel. Faux finishes can be difficult to create, but provide great imitations of marble or expensive woods. Whatever technique you chose, make sure to practice before applying it to a wall.

Ready, Set, Go
Once you’ve decided how you’re going to transform your room, double check to make sure you have all the necessary tools.

• Paint of choice—Try getting paint with little or no VOCs. This paint produces fewer fumes, so it is better for you and the environment.
• Quality primer—Primer provides a foundation, helps the paint adhere and allows your new look to standout.
• Blue painters tape—Use this to mark where you don’t want paint.
• Drop Cloths—You certainly don’t want paint all over your floors and carpet.
• Quality brushes and rollers—Some types of brushes and rollers produce better results when used with certain types of paints, so try to be conscious of these tools when making a decision.
• Technique tools—Different techniques require different tools. Make sure you have all tools and equipment on hand ahead of time.

So good luck, have fun and feel free to share your pictures! We’d love to see them.

Protect Yourself and Your Home from Water Damage

Don’t let roof leaks ruin a relaxing, rainy day. As the wet season approaches, it’s important to make sure your home is protected from roof leaks, rain run-off and more! Read on for helpful ways to combat any soggy situations you may encounter in the coming months.

Gutters and Downspouts
When cleaning gutters and downspouts, it’s important to have the right tools. Take inventory to see if you have a ladder, gloves, a gutter scoop, rags, and a garden hose on hand. A handheld blower can be helpful for removing leaves but only if they are dry. Start the cleaning process at a downspout area. If you run into an area with tightly-packed debris, spray it with water from a garden hose to loosen the mass. After you’ve finished the cleaning process, send a stream of water from the hose through the gutters to make sure everything is flowing efficiently.

One way to prevent gutter buildup is to install protective gutter guards. Plastic or metal guards can be used to keep leaves out. Solid gutter shields allow water in the gutter while forcing leaves and other debris over the side. For more tips on cleaning gutters and downspouts, visit Lowes.com.

Roof Leaks
Roof leaks can often end up costing you thousands of dollars, so take some proactive steps to prevent future damages. Leaks frequently occur in areas of intersection—where the roof connects to a chimney, skylight or other object. Joints at these intersections sometimes begin to deteriorate and separate over time, allowing water to seep in. Though some roofing problems can be easy to fix, it is usually a good idea to contact a professional contractor to assess and correct the problem. If you don’t have time to seek professional assistance, keep the problem under control with poly tarps and buckets.

Run-Offs
This is the water that flows off your roof during a rainstorm. Without a proper channeling system, like gutters and splash blocks, this water will begin to pool at the base of your home and can cause serious foundation damage. In order to prevent this damage, water should drain away from the building. One way this can be accomplished is by placing splash blocks at the end of downspouts to help direct water away from the foundation of the home. Installing surface drains is another option, but this typically requires more equipment and probably a little help from a friend or professional.

Flood Safety and Preservation
Spring is also known for its severe thunderstorms which can lead to flash and regional floods. Take the time to familiarize yourself with flood safety.

• Seal important documents in a waterproof container
• Seek higher ground
• Keep a battery powered flashlight and radio in a safe space.
• Understand that your safety is foremost

If you’re looking for a local professional contractor, or for more tips on waterproofing, make sure to visit NAWSRC.org.

Real Estate Terms

Just like any other business, real estate has its own lingo and for many consumers this can be overwhelming. To help you better understand the home buying process, here is a glossary full of real estate terms.

A
Adjustable Rate Mortgage (ARM) – A loan for which the interest rate is subject to change on a periodic basis (i.e. every 1, 3, or 5 years).
Appraisal – An evaluation to determine the price for which a property would sell in the current marketplace.
Assessment – A tax levied on a property or a value placed on the worth of a property by a taxing authority.
B
Broker – A real estate professional who has a higher level of training than an agent. A broker is the legal representative and/or manager of the office. The term may also refer to the brokerage under which an agent is licensed.
Buyer-agency – A relationship between an agency and a buyer in which the agent represents the interests of the buyer, not the seller. The primary duty of a buyer’s agent is to obtain the best deal for his/her client.
Buyer Representation – Historically, an agent represented only the seller in a real estate transaction. Buyers today have the opportunity to be fully represented by an agent and brokerage firm.
C
Closing Costs – Charges paid at closing for obtaining a mortgage loan and transferring a real estate title.
Commission – The fee paid to a real estate agent/broker for services rendered during the sale or purchase of a home. Usually a percentage of the property’s sale price, averaging 6 to 7 percent on home sales.
Comparative Market Analysis (CMA) – A survey of attributes and selling prices of comparable houses listed for sale, recently sold or expired from the market; used to help determine correct pricing strategy for a seller's property.
Cooperate – A standard of practice in real estate in which brokers/agents agree to work together with other brokers/agents, but only in their client's best interest. Under a cooperative arrangement, there is no obligation to share commissions or fees.
Counteroffer – An offer made in response to an offer received. Essentially it rejects the original offer.
D
Debt-To-Income Ratio – A comparison of gross income to expenses (both housing and non-housing).
Deed – Legal document that formally conveys ownership of property from seller to buyer.
Deed Restrictions – Legally binding rules for the building and maintenance of homes and properties.
Discount Points – A fee paid to a mortgage lender by a borrower to get a lower interest rate on the mortgage loan. One point equals one percent of the loan amount.
Due–On–Sale – A clause in a mortgage contract requiring the borrower to pay the entire outstanding balance upon sale or transfer of the property.
E
Easement – The right-of-way granted to a person or company authorizing access to the owner's land; for example, a utility company may be granted an easement to install pipes or wires. An owner may voluntarily grant an easement, or can be ordered to grant one by a local jurisdiction.
Equity – The difference between the value of a home and what is owed on it.
Escrow – The handling of funds or documents by a third party on behalf of the buyer and/or seller.
Exclusive Agency Agreement – A contract that gives a real estate agency the right to market and sell a home.
F
FHA – The Federal Housing Administration. It insures loans made by an approved lender, as long as the loan is in accordance with FHA regulations.
G
Grace Period – A specified amount of time during which a loan payment may be made after its due date without incurring a late penalty. Each mortgage lender sets its own grace period policies.
H
Home Equity Loan – A loan secured by the equity built up in a home. Such a loan is often used to pay for repairs and home improvements. This can be a fixed or variable loan rate.
L
List Price – Also called the asking price. The price of the home as determined by the seller and his/her agent. The list price is often negotiable.
Listing Contract – Agreement whereby an owner engages a real estate company for a specified period to market a property for which (upon sale) the broker receives a commission.
M
Mortgage Broker – A broker who represents numerous lenders and helps consumers find affordable mortgages, the broker charges a fee only if the consumer finds a loan
Mortgage Loan – A contract in which the borrower's property is pledged as collateral. It is repaid in installments. The mortgagor (buyer) promises to repay principal and interest, keep the home insured, pay all taxes and keep the property in good condition.
Multiple Listing Service (MLS) – A system that provides its members with detailed information about properties for sale.
N
National Association of Realtors (NAR) – A national trade organization of more than one million real estate agents and brokers. Members may call themselves Realtors®.
O
Origination Fee – A charge for the work involved in preparing and servicing a mortgage application (usually one percent of the loan amount).
P
P.I.T.I – Principal, interest, taxes, and insurance—the four major components of monthly housing payments.
Pre-Approval – A mortgage approval obtained before negotiating a contract on a specific home.
Pre–Qualification – An informal estimate of how much financing a potential borrower might expect to obtain.
Purchase Agreement – Also called a sales agreement, a purchase agreement is a contract for the sale of a home between a buyer and a seller. It outlines the price, terms and conditions of the transaction.
R
Recording Fee – A charge for recording the transfer of a property, paid to a city, county, or other appropriate branch of government.
S
Second Mortgage – A loan that uses the equity in a home as collateral.
T
Title – Evidence (usually in the form of a certificate or deed) of a person's legal right to ownership of a property.
Title Insurance – Provides coverage against losses resulting from a defect in the title.
W
Walk–Through – A final inspection of a home before title transfer to search for problems that need to be corrected before ownership changes.
Z
Zoning – Regulations established by local governments regarding the location and use for any given piece of property within a specific area.

Hopefully these definitions help you feel more comfortable and at ease with the home buying experience. For more information and to view an extended list, visit RealLiving.com or call your local Real Living agent today!

How to find your next home fast

Technology is moving at a rapid pace and real estate is right there with it. Digital and mobile outlets now allow real estate agents to communicate with clients more efficiently, and consumers are able to find homes faster. Here are just a few tips to help you find your next home fast!

Take advantage of Web 2.0 features—Home listing sites don’t always offer consumers a personalized experience—one that’s tailored to a consumer’s needs and preferences. However, My Real Living (Web 2.0) does! This site allows consumers to customize and save searches, receive up-to-date listings, communicate with their agent, schedule showings and much more. With 4,000 new registrants each month, Real Living’s Web 2.0 features are clearly an effective tool for consumers.

Benefit from 360⁰ Marketing—With the use of Real Living 360⁰ marketing integration, agents are now featuring homes for sale in a number of new locations, including Facebook, Twitter, YouTube, blogs and more. Skimming the Sunday paper for new listings won’t get you very far anymore. Modern day buyers are multi-dimensional, and to meet the needs of these buyers, Real Living agents use a combination of traditional (signs, radio, print), mobile (texting, click-to-talk, etc.) and digital (web, blogs, video) marketing techniques. You never know where you could find your next home! Have you connected with your agent on Facebook?

Connect with agents on social media sites—Realtors® are business savvy. They know to go where the consumer is. And the people are on social media sites, including Twitter, Facebook and LinkedIn. Real Living agents are now using these sites to showcase properties for sale. By using Facebook applications like Note, My blogs, Fan Pages and sharing links, agents are posting details regarding current listings. Agents are also posting videos and photos of the interior and exterior of homes as well as the community. Connecting with agents on these sites will help you find your home faster and build a stronger relationship with your Realtor®.

Read real estate blogs—Realtors® are always blogging. Find a couple real estate blogs, including your agent’s, and read them regularly to help stay on top of local and national real estate trends and tips. You’ll learn what to look for and when to buy. The experts are talking, so listen and learn from them. Become a part of the discussion as you search for your home.

Use Google Maps “street view”—Enter the address of a potential home into Google Maps, click “street view”, and you’re able to explore a neighborhood, community and even evaluate the exterior of a home all from the comfort of your computer. This saves you valuable time, money and gas!

Good luck and have fun searching for your next home! If you have any questions or want to know more, contact a local agent today.