Thomas Murphy - Pine Shores Real Estate



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.





Posted by Thomas Murphy on 3/15/2015

Buying property can definitely be a very lucrative investment. However, before you decide on buying and selling real estate, you have to have a good understanding of the markets. In other words, if you are looking to buy so that you can sell down the road to make a profit on your real estate, then you are better off achieving this when the housing market is slow, as there is less demand for buying houses, thus forcing sellers to lower their prices. This in turn will allow you to get a home at the lowest price possible, and then being able to sell it at a higher price once the markets begin to move again. Of course, investing in real estate is not only about the current conditions of the housing market. In addition, you also have to look at other factors such as the location the real estate will be in, the condition of the real estate, and the reason why the owner is looking to sell. In the end, buying and selling real estate carries the same risks as any other type of investment, and the only way to avoid these risks is through proper research. More importantly, you will be spending a good amount of money on real estate compared to other types of investments, and so you want to make sure that your money is well spent. By keeping these valuable points in mind, you will be able to find the right property to invest in.





Posted by Thomas Murphy on 1/4/2015

Year after year, study after study, good market, down market the story is always the same...owning a home is a good investment. Not only does it build wealth but it also provides many psychological benefits too. A survey released earlier this year by the magazine Better Homes and Gardens found that eight in 10 respondents said homeownership is still a good investment and believe owning a home is a smart financial move and a source of pride. Here are some results of the 2,500 people surveyed online:

  • 86% of home owners still feel owning a home is a good investment.
  • 85% feel “owning a home is one of their proudest accomplishments.”
  • 69% of Americans who don’t currently own a home agree with the statement, “No matter what happens in the U.S. housing market, owning a home is still an important goal in my life.”
  • 68% of Americans plan to spend money on their homes in the next six months, with roughly half (49%) expecting to pay up to $1,000.
 




Categories: Buying a Home   Real estate  


Posted by Thomas Murphy on 12/28/2014

When buying a home the last thing you do before you sign on the dotted line is go to the house and do a final walkthrough. This is different than the home inspection and done just prior to the final closing of the sale. The purpose of this walkthrough is to make sure the house will be delivered as agreed in your contract. You want to make sure the seller is leaving the house in working order and no problems with the house have occurred since the last time you where there. Here’s a quick checklist that will help you make the most of your final walkthrough: -Bring your purchase contract with you and verify that all items agreed to in the contract have been taken care of -Make sure the home and the exterior are free of personal belongings -The home and exterior should also be free of trash -Test all the appliances - Confirm all the light fixtures are working - Turn on ceiling fans as well as exhaust fans in the kitchen, bathrooms, and laundry area. -Check to make sure that the garage door remotes are in working order - Go through the house and turn on every faucet and flush all the toilets - Run the garbage disposal and trash compactor - Open and close all the windows and doors to make sure they are opening and latching properly - Look for any damage on the ceilings, floors, and walls such as new scratches, cracks, or other issues - Finally, account for all keys to the property This is an important step to take and could save you lot of headaches. This allows you to be able to resolve any problems before you close on the house.





Posted by Thomas Murphy on 11/30/2014

You may be considering buying a home but it is hard to know if you are ready to be a homeowner. It can be a big step. Buyers that educate themselves on the process and set realistic expectations have the best experiences. To gauge whether or not you are ready to own your first home you should ask yourself some serious questions.

  • Are you in a lease or is your living situation easily changed?
  • Do you need to remain in your current community or would you be willing to move?
  • Do you have the time and resources necessary to make your first home purchase a success?
If you have answered these questions favorably you may well be on your way to homeownership. The next step is to evaluate your financial situation. Here are some questions to check your financial readiness.
  • Do you have a steady source of income?
  • Do you know your credit history?
  • Do you have a down payment ?
  • Are you ready for the financial responsibilities that coincide with home ownership?
If your answers to these questions are positive then it is time to get the loan process started to see how much you can afford. A reputable lender will give you realistic expectations and many offer a free consultation for buyers seeking pre-approval. Now it is time to start your search. Working with an agent that you trust and are comfortable with is very important. My skills include educating you about the buying process, negotiating, having your best interest in mind and helping you find a perfect first home while hopefully saving you time and money.




Categories: Real estate