Survey Shows Current Attitudes to Smart Homes

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Lowes recently released a survey on smart homes, and discovered that more than 70% of Americans who have smartphones would like to be able to control some feature within their home, without having to move. According to the article in RisMedia, the survey looked at people’s attitudes towards home automation as well as their experiences.

It also examined the most important features for home automation, and people’s reasons for owning or wanting to own particular smart home products. Overall, the study found Americans are generally open towards the idea of smart homes, and 62% thought a smart home would be a beneficial way of being able to monitor security and home safety. The Smart Home Survey was an online poll of more than 2,000 adults aged over 18, and it found that just over half of those surveyed feel that having a smart home is somewhat important. When it comes to purchasing the equipment required for smart home automation, some 26% say the overall cost of equipment is important, while 31% feel this way about the monthly fees. Some 13% feel the ease of use is important and just 11% think this about security.

The survey found that Americans generally feel positive towards products that could make their homes easier to manage, more energy efficient and more secure. When it comes to actually purchasing smart home products, Americans more than twice as likely to prefer a solution they can fit themselves and which doesn’t have a monthly fee associated with monitoring the system, or an installation fee. Around 40% feel the benefit of owning a smart home would be to make the home more energy-efficient, and to cut down on energy bills. Out of those polled, 62% felt home monitoring and security was the most beneficial reason for choosing a smart home. Americans aged 65 or older were more than twice as likely as those aged between 18 and 64 to rank ease of use as being the most important factor when considering a smart home purchase.

Most Americans aim is to be able to control something in their home without having to get out of bed. Nearly half would like to control the temperature of the property, so it is perfect when they get home. Other wishes includes being able to control lights and door locks. Not surprisingly, these wishes are the top three things most of us forget to do before leaving home, as 18% forget to turn off the lights, while 15% don’t adjust the thermostat and a worrying 5% fail to lock the door. Over half of those surveyed admitted to forgetting to do something when they went out.

Pending Home Sales Fell Slightly in August

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Even though pending homes sales fell slightly in August, contract signings were at their second highest level over the past twelve months, according to an article in Propertywire. These figures were based on data from the National Association of Realtors. Just one region bucked the trend which was at the West, where pending home sales increased for the fourth consecutive month. With the exception of the West, all major regions saw pending home sales figures decline. The index dropped from 105.8 in July to 104.7 in August, and was 2.2% to the below figures seen in August 2013 when the index was 107.1. In spite of the decline, the index is still above 100 and has been for four consecutive months. Anything above 100 is considered to be an average level of contract activity.

Real estate experts point out that even though figures did drop slightly, the number of contract signings is holding steady. The reason the figures declined is likely to be due to less investor activity and fewer distressed sales. Fewer distressed homes are available at knockdown prices, and this factor combined with the likelihood of rising interest rates may be causing investors to hesitate over purchases. The declining numbers of investors means the market is returning towards more normal conditions, relying on first-time buyers and traditional buyers who need a mortgage to purchase a home.

The National Association of Realtors Profile of Home Buyers and Sellers shows that 81% of first-time buyers who purchased the home last year used an FHA or conventional loan. During the housing market recovery first-time buyers have accounted for less than a third of all buyers every month over the last couple of years.

It’s expected that the numbers of first-time buyers should gradually rise, in spite of increasing interest rates and tight credit conditions. This is because employment prospects for young adults are beginning to improve and their incomes are increasing. More disposable cash will help them repay student loans and should lead to higher sales growth in this area during the next two years.

Levels of pending home sales in the North East fell by 3% to an index of 86.5 in August, but this figure is still 1.6% higher than a year earlier. In the Midwest levels fell by 2.1% to an index of 102.4, 7.6% lower than in August last year. In the South pending home sales fell 1.4% giving an index of 117 which is unchanged from a year earlier. In the West, figures rose for the fourth consecutive month by 2.6% to reach 102.1, but this is still 2.6% lower than August last year.

Discover All Sorts Of Tips That Will Make Your Next Real Estate Venture A Success

Article Source: http://www.canadianmortgageupdates.ca/

So you want to buy a house? Chances are you are not sure where to start, and you may even be very overwhelmed by the possibilities and choices. This article will start to put your mind at rest and will help you wade through all the information out there by giving you some good, solid advice on home buying.

If you are not in any hurry to buy a home, check the paper for homes that are listed to go up for auction. One homeowner's loss may be your gain. You can get a home for far less than market price by going through the home auction process.

If you are buying a home to rent out, consider it's location and potential renters when making renovation decisions. A low income house will not benefit from the expense of granite counters for example. Although a renter will be excited they are are there, they won't be able to pay a premium for the property simply because you put them in.

When you invest in a home, you are investing in the surrounding community as well and that is why it is so important to look into the community where the house is. Find out about the school, community organizations, shopping locations and child care centers are available to make sure that it is a good fit for your needs.

When looking for a mortgage, make sure to check with more than one lender. Different lenders offer different incentives and closing cost amounts can vary too. Your ability to qualify for certain programs may also vary by lender. Shopping around can save you thousands over the life of your loan.

Now that you have some direction regarding what you should be thinking about, doing, and avoiding when buying your new home, you can start the process with your head on straight and a clear goal in mind. Now that you have the necessary knowledge, you are ready to start the house-buying process.

Mortgages for the Self Employed

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There are benefits to being self-employed. Not having to answer to a boss is a big one, as is being able to set your own work hours. However, when it comes to qualifying for a mortgage, being self-employed has drawbacks. The “stated income” loan application was originally intended to help the self-employed qualify for a traditional loan. However, leading up to the height of the real estate bubble, so many people abused this method that it has been discontinued by all traditional lenders and some private lenders. Here’s How the Self Employed Qualify for a Mortgage You need to prove your income using your tax returns. There are two typical problems this causes the self-employed. First, most self-employed maximize their expenses on their income tax returns to minimize the taxes they pay. That means they show the lowest amount of income possible. Second, the process requires that the two most recent tax years be averaged to determine your stable income. Due to the slow recovery of the economy, previous year incomes were likely low and will bring your income average down compared to what you are currently earning. Stated income loans are making a small come back on the secondary private lending market but only for the most qualified borrowers. Those with a credit rating of 720 or higher. You’ll also likely need a 30% down payment and have to have six months of financial reserves available to cover all monthly obligations. Showing Income From Your Tax Return Your more likely option is showing income from your tax returns. Self employed loan applicants have to complete and submit Form 4506-T to the IRS. This form authorizes lenders to access your tax records. The lenders must receive the tax records directly from the IRS rather than a copy from you. It’s not unusual for the self-employed to report $90,000 in income but have $80,000 in expenses (or something similar). Of course, at the bottom line, this means only $10,000 of adjusted income is being shown. You’re not at all likely to be given a mortgage if that’s what your tax return is showing. However, all is not lost if you can show an unusual expense such as a one time purchase of equipment or something else that will help you earn more income going forward. You might also still qualify if you can show a one time loss that is unlikely to happen again. Other Options The bottom line is that in today’s economy, the self-employed need to decide if avoiding taxes is more important than qualifying for a larger mortgage. You also need to plan at least two years in advance so that you can qualify under the two year averaging requirement. Your best first step is speaking with a qualified loan officer who can help you understand your options based on your personal financial situation. You may also want to contact a community lender that holds their loans in their own portfolio instead of selling them to Fannie Mae or Freddie Mac. These lenders have more flexibility in how they qualify borrowers. The last option is searching the internet for private lenders. There are more out there than you are probably aware of. Individuals that have given up making a decent return from the stock markets are using retirement accounts to make personal loans. However, these private lenders charge interest rates north of 10% to compensate for the perceived increased risk.

Home Design Helpful Hints And Advice for your rented homes

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Interior design isn't hard and doesn't require years of professional expertise in order to help you design your home. Simple steps and ideas can already have you thinking and acting like a pro. The article below focuses on some of the great ways that you can use interior design to your home's advantage!

If you have children, you should take them into consideration before planning your interior-design project. For example, you will probably want to stay away from furniture pieces that have extremely sharp corners, as your children can easily harm themselves on them. It would be a waste if you were to purchase's pieces that end up breaking or causing harm to your children.

Think of the function of a room when you are designing it. If you are decorating your child's bedroom, you may consider using lively and bold colors to match their personality. But those colors will not work if the room is a library.

One of the easiest steps in interior design involves painting a room. Paint gives a room a fresh look, and it can completely change the feeling in the space. Paint allows you to put a dash of your individual style in the space, and it is an inexpensive way to begin redesigning your home.

Consider adding some artwork to your room. A nice piece of art can really make a room look "finished." Make sure you choose a piece of art work that goes with the colors and feel of the room. You don't want it to compete with other things in te room for attention.

Your personality deserves a home that is unique to your needs and desires; this is where interior design can help! The article above has hopefully cast light on this subject for you and has given you insight to all of the great ways you can achieve the perfect design for your home.

Using the WOW Factor to Sell Flipped Houses

News Source: http://www.canadianmortgageupdates.ca/

“WOW” Factor

When a potential buyer views a property, you want them to experience the “wow factor.” What is the wow factor? This is what your potential buyers should be saying, “this is the nicest house I’ve looked at so far!” First impressions are very important. When a buyer walks into your home for the first time, you want to leave an impression that they will remember.

Each time you sell a property, you should ask the buyer why they bought your house. Inevitably, many will have looked at 20, 25, 35 homes before buying yours.

Remember, you’re looking to sell to the perfect-condition homebuyer and you want to make your property seem very appealing to that type of buyer.

Creating the Wow Factor: Aside from a completely renovated home with modern amenities such as granite, re-finished hardwood floors, and everything new from top to bottom, here are a few more things to increase the wow factor:

• Stainless Steel Appliances: In almost all cases, you want a matching stainless steel stove, dishwasher, and microwave. Not only does it give more perceived value, it also makes the kitchen look more complete. Rather then dead space, the kitchen now has brand-new appliances. Occasionally, you might include a matching refrigerator.
• Free Home Warranty: Although a free home warranty is not a physical feature, it provides a great deal of comfort and confidence in the buyer’s mind. It costs $300-375 but is a huge selling feature.
• Free TV: You might want to try offering a free 46” flat screen TV. You can hang a plastic imitation flat screen TVs on the wall with a small sign that says, “With an accepted offer, you get this free TV.” The cost is $680 for the actual TV. By having a replica of the TV in the home, it provides an additional wow factor.
• 100% Ready: Never show the house to potential buyers until it is 100% ready. 100% ready means vacuumed, deep cleaned, spotless, and ready to go. The perfect-condition homebuyer is turned off if it’s not 100% and you want to have an amazing first impression.
• Mats/Sign: To give potential buyers the image that your homes are “high-quality,” you should put mats at the door entrances with a sign reading, “Please take off your shoes.” The image this gives the buyer is that this home is a first-class property.

Listing Agent

Once a property is 100% complete, you want it listed on the MLS. Your image is very important as part of the “wow factor”. The goal is to attract a buyer’s agent. The process of buying a home has changed from the traditional real estate model. In the past, a person would hire a realtor (buyer’s agent), the realtor would give them a list of houses to look at and then show them the properties.

Today, in almost all cases, a buyer searches on the internet for homes for sale in the areas they are interested in living in. After they find a home they are interested in, they call up a realtor to request the realtor schedule a showing. Either way, in most cases, it’s a buyer’s agent who has the buyer so the listing must be designed in a way to attract buyer’s agents to show your homes.

Hiring the Right Listing Agent: It’s important to choose the right listing agent. You want the top-selling agent in the area to list your properties. The benefits are:

• Image: The top selling agent in the area has a well-known name, image, and branding. You want to be associated with that image. Only go with agents having an image of listing the best houses in the neighborhood.
• Buyers: The top selling agent has a large buyer base. Often, the listing agent or someone from his/her office will sell the home.
• Work Ethic: He/she became the best selling agent from working hard. You want an agent who is totally dedicated to selling your property.
• Repeat Business: The top selling agent is motivated by repeat business. One of the indicators used to measure an agent’s success is the total number of homes sold. Unlike a one-time homebuyer, or home-seller, as an investor, you represent repeat business, which helps him/her reach or maintain his/her status.

Responsibilities of the Listing Agent: The job requirements for the listing agent are very clear and specific and include the following:

• Yard Sign – Your agent should put up a professional (no scratches/dents) yard sign that is very visible from the street.
• Brochures – Each property needs a 2-page color brochure explaining the features, neighborhood stats, school/shopping info, updates, etc. It has numerous pictures and showcases all the benefits of the home. Copies of the brochure are placed in an info box attached to the yard sign. Brochures must be refilled weekly. A stack of brochures is also placed on the counter inside. You want each potential buyer to take a brochure with them when they leave. Often, buyers will look at several properties at a time and you want them to remember your home above all others.
• MLS Pictures: High quality pictures are essential. You’d be amazed at how often you see MLS listings with no pictures, only a few pictures and/or poor quality pictures. How detrimental to the listing! A buyer often decides if they will even look at the property solely based on these pictures. Upload the maximum number of pictures allowed on the MLS. Special attention is given to the lighting, order, quality, angles, etc. of each picture.
• Comments: There is a lot of psychology that goes into the comments. Like the pictures, well-crafted comments will draw the buyer in to set up a showing to view the house. The key is to focus on features. Here is an example of comments for a high end house:

“New cabinetry, granite countertops, and stainless steel appliances in a spectacular new kitchen, home is completely remodeled, it’s like a new house. Bathroom is completely stylish and completely new. Lots of gorgeous refinished hardwood floors, new carpeting, and new travertine-look ceramic tile. Neutral paint and crisp white trim throughout. This won’t last long, acclaimed Lake Orion schools.”

Notice some of the key words used – “granite”, “completely remodeled,” “gorgeous,” “refinish,” and “neutral paint.” You want to create urgency with all your write-ups (“hurry this won’t last long”). The MLS comments section limits the number of words so you’ve got to be concise. A top selling agent should be able to create a top-notch comments section.

Feedback: You want to require personal feedback on each showing. Not an automatic email that says, “Please give us your feedback.” You want the listing agent (a real person) to call the buyer’s agent that showed the property and get personal feedback. Here are some of the questions to ask:

• How well did the property show?
• What is your opinion of the price?
• What did the buyer like most about the house?
• What did the buyer like least about the house?
• In a rating from 1-5, one being bad and five being excellent, how would you rate this property?

Some agents can’t be bothered to give feedback and don’t want to talk. Your listing agent needs to be personable on the phone. He or she also needs to be persistent about getting feedback because it’s crucial that you receive that feedback. A recent investor had a property listed for 60 days and was getting 5-6 showings consistently each week but wasn’t receiving any offers. He wasn’t getting any feedback so he had no idea why buyers weren’t making offers. Without feedback, there is no way to know what the market thinks about the house. If you’re having showings but not getting offers, there is a reason and the feedback will let you know why you aren’t getting offers.

Expert Advice For Your Debt Consolidation Plan

Article Source: http://bestmortgagebrokers.net/

Debt consolidation may sound simple in theory, but in reality, it can be quite complicated. Some people actually end up in a less favorable position following an attempt at consolidation, so pay close attention to the following tips. They can help you consolidate your debt in such a manner that you come out on top and can more easily manage your finances thereafter.

One sign that a debt consolidation company is reputable is whether or not they are a member of an organization, like the National Foundation for Credit Counseling. Even if the company verbally confirms to you that they are a member, make sure you still research it to make sure what they are saying is true. A member of an organization like the NFCC has to follow certain rules, like only employing certified credit counselors.

Ask your credit card company if they'd accept a lump payment for a lesser amount than the debt. Many companies will accept 20% to 30% less than the amount you owe currently just to get the cash in hand. If you can scrape up the cash, this is an excellent way to save funds that can go to other debts.

Make sure you hire a reputable debt consolidation agency to help you manage your debt restructuring. Although you will find many companies offering to help you, few are really in it to benefit the consumer. Check first with government sponsored agencies that offer free credit counseling and will then refer you to a trusted debt consolidation service.

Debt consolidation may not be the most exciting topic of conversation, but it certainly can do a lot for your financial health. Follow the tips from this article and plan your consolidation carefully. You should end up in a more comfortable position, with less interest to pay and more flexible terms.