Thomas Murphy - Pine Shores Real Estate



Posted by Thomas Murphy on 1/3/2016

Owning your own house or apartment is a gratifying experience, as you not only have a place you can call home, but you also have the freedom to live the way you choose once you enter your domain. However, to find a home that can truly make you happy, there are a few points that you should consider beforehand. The first point to think about is the neighborhood (where your home will be located). This is important, because you need to feel that the area you are living in will be safe from crime, and that it will also be easy to commute to work on a daily basis. In the end, you do not want to spend too much time traveling in the evenings or in the mornings, as this can only make life more difficult. The next point to think about is how much space you want, as well as how many responsibilities you are willing to put up with. In other words, you could either choose to find a home that has a huge garden and a swimming pool, which is perfect if you enjoy gardening and going out for a swim, or, you could decide to do away with these extra bells and whistles if you hate gardening and do not want to spend time cleaning the pool. In other words, you want a home that you can truly feel comfortable living in, as this in turn will ensure that you can keep your life as stress free as possible. Price is always important, and you want to make sure you look for a home that you can afford. There are a lot of other expenses you have to think about, cable TV, insurance, taxes, telephone, heat, electric, maintenance etc. So make sure you factor all of these into your monthly budget. You do not want to be house poor and buying a home that you may fall in love with can in the end be very stressful if you are struggling to pay for it every month. Look for a home at a good value and that may need some cosmetic fix ups and grow into the home with home improvements down the road. This will bring value to your home and in turn be a good invest when you go to sell the home.





Posted by Thomas Murphy on 10/18/2015

Everyone wants a deal especially when purchasing a big ticket item like a house. In order to get a good deal you have to be a great negotiator. If you are on the hunt for a housing bargain you need to be prepared and sharpen your negotiation skills. Here are some tips to get you on your way to buying success: Do Your Homework: Gather information about the property. Find out about recent repairs and improvements or renovations. Review the seller disclosure statement look for details, such as the age of the roof and systems in the home. Know the Market: Find out what other homes are selling for in your price range. Ask your real estate agent to do a comparative market analysis on the home you are interested in. The comparative market analysis will compare the home to homes that have recently sold and homes that are currently on the market. Be Prepared: Before you start shopping for a home get your credit in order.The higher your credit score, the better the chance you'll get a good deal on a home loan. Once you have your credit in order start the mortgage process and get pre-approved. If you are pre-approved the seller will see you are a well-qualified buyer. Be Reasonable: It is easy to let emotions get in the way. View the purchase as a business transaction. Approach the situation objectively, and don't take the negotiations personally. Negotiate: Start off your negotiation on the right foot,  don't low-ball the seller with an insulting figure. This can immediately kill the transaction. Negotiation is a two way street. In most negotiations both parties compromise. Be Smart: Stick within your budget and don't let emotion take over when you are negotiating. Know what price you're comfortable with and stick to it. This way you will be sure to buy a home that you can afford.  





Posted by Thomas Murphy on 8/23/2015

Trying to buy and sell a home at the same time can be tough. Sometimes these buyers and sellers are referred to as being in a sandwich because they are in the middle. The reason this can be difficult is because there is no guarantee that your new home will close at the same time as your old home. Selling and buying a home at the same time is possible but you will need help. Here are a few tips on how to get into your home while closing on your own home: 1. Hire a real estate professional. This is almost an impossible task without having a seasoned professional by your side. There are lots of details that go into selling and buying and an experienced real estate professional will know just what to do to get you to both closing tables. 2. Sell first, and then buy. This is probably the easiest and safest plan. List your home for sale and secure a buyer. You can either close on your home before purchasing another one, or ask the buyer for a contingency to allow you time to find a new home before closing on the previous one. There are many advantages to selling first, it allows you to know how much you can spend on a new home, and you don’t have to worry about temporary financing. 3. Try to schedule the closing date on the purchase of your new home on the same day, but after the closing on the home you are selling. This way, you can stay in your present home until you move into your new one. Bottom line, when it comes to selling and buying a home use the expertise of your real estate professional. Your plans may change depending on your circumstances and your local market.





Posted by Thomas Murphy on 6/7/2015

There are lots of different types of mortgages out there but the most popular mortgage is a fixed-rate mortgage. A fixed-rate mortgage has a fixed interest rate for the entire term of the loan. The interest rate is determined at the loan's origination. One of the main advantages of a fixed-rate mortgage is that the loan payment amounts will stay the same for the life of the loan and will not fluctuate with interest rate movements. Lenders offer 50, 30, 20, and 10-year fixed loans. The two most popular are the 30 and 15 year fixed loan. A 30-year fixed loan amortizes over thirty years, with the majority of early payments going toward interest, later payments go mostly toward the principal. A 15-year fixed loan, amortizes over fifteen years, and significantly reduces the amount of interest paid on the loan. When considering a mortgage understand and measure risks of all the different types of mortgages.





Posted by Thomas Murphy on 3/29/2015

Are you looking for a deal when buying your next home? Buying a fixer-upper home just might be the way to go but there are some important things to know before you buy. These helpful hints can help you save time, money and a lot of headaches when buying a fixer-upper. Set a budget: You need to know how much money you can afford to spend. You will want to factor in the price of the property plus the cost of the renovations. Remember to plan for the unknown, add at least 10% to it for "overruns". Most projects never seem to go as planned. Plan ahead: Buying a fixer-upper requires more planning. When looking at potential homes you will want to make a list of renovations. Try to come up with an estimated cost of the renovations. You will also want to identify whether or not you have the expertise to do the renovations or if you will need to hire a contractor. Get a home inspection: There are some things that are unseen to the untrained eye. A good home inspection will be able to tell you all of the needed repairs and potential pitfalls. Remember buying a fixer-upper is an investment. Follow the tips on this list and you will be prepared for the project of buying, renovating and owning a fixer-upper.