Real Estate Information Archive

• - Begin budgeting now, if you do not already.  Homeownership has more expenses involved than renting, and you need to be able to manage your money properly. 

• - Check your credit score and correct any mistakes, or do what it takes to bring your numbers up. 

• - Start saving towards your down payment.  

• - Be realistic.  You know about how much you can afford, so don’t start your initial search in the luxury homes sections. 

• - Once your financial things are in good working order, shop around for a loan, and talk with the lender about your pre-approval amount.  Knowing how much you can afford will help keep you in check when it comes to the house searching. 

• - Don’t balk at browsing other homes besides houses--there are affordable townhomes and condominiums that could be perfect for you as your first home purchase. 

• - Think about your community options--do you want to live in a managed community (HOA), a rural area, new construction in a planned community, or an older suburban neighborhood?  Each can affect how much you pay in HOA fees, taxes, or maintenance costs. 

• - If you have renter’s insurance, and you should, you’ll note that a homeowner’s policy costs more, because it covers much more than just your belongings.  Speak with your insurance agent about a quote so you can budget accordingly. 

• - On the chance that you decide to relocate, you can choose to rent your property and become a landlord yourself.  You will have money from the rent to pay towards your mortgage payment, or, if the house is paid for, begin building a nest egg. 

• - Purchasing a newer house than what you’re renting can save money in the end, because of less up-front maintenance, as well as being more energy efficient, thus having lower utility bills. 

• - To see what your credit score is, request a free credit report from all three reporting agencies.  Check each report for errors, and report them to both the credit bureau and company that reported it. 

• - If there is a legitimate collection on your credit report, pay it as soon as you can, but it will not be removed from your credit history for seven years, although it will be marked as paid. 

• - Old debt on your report that was paid in full and on time is better for your score than having it removed.  So if you’ve paid off an account in good standing, leave it as long as possible. 

• - If you have a history of keeping your payments on time, that’s great, because late payments hurt your score.  Stay current by setting reminders to mail payments before their due date, or set up automatic payments through your bank. 

• - Pay off your credit cards!  This is so important, because the more outstanding debt you have, the lower your score.  Pay off the smallest balance first, and the larger balances can be paid off sooner by increasing your payments, or send equal payments twice per month if the creditor allows. 

• - Canceling a credit card that you’re trying to pay down sounds like a great idea, but it isn’t, according to FICO™.  It’s better to simply pay off the card, and use it as minimally as possible--charging to it once a month for a take-out dinner keeps it active. 

• - Don’t have a credit card?  Shop around for one with a good interest rate, and apply.  Having at least one credit account in good standing is better than none at all for those who haven’t really started establishing a credit history. 

• - Applying for loans or credit with multiple agencies can hurt your score.  Avoid new credit accounts while you’re trying to bring your score up. 

• - If you are truly hurting financially, and don’t see a light at the end of the tunnel, contact a reputable credit repair agency that can assist you in getting your bills paid, manage your finances, and increase your home purchase chances. 

• Any friends that have recently bought or sold their home can get you started on a reference list.  Ask them what they liked most/least, and what they would do differently. 

• Look to the internet for initial research.  Go down your list and search for each Realtor’s listings, blogs, and testimonials. Record contact information of Realtors you’re most interested in. 

• Call each Realtor and set up an appointment to meet for a Q&A session. 

• Before your first meeting, familiarize yourself with real estate professionals terms, as each title has a different job. 

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• Have this list of questions to ask on hand at every meeting: 

• - How long have you been in real estate? 

• - Are you in the real estate business full-time or part-time? 

• - Do have more buying or selling experience? 

• - How many homes have you sold in the past twelve months? 

• - Do you specialize in any certain neighborhoods or locations? 

• - How many clients are you working with now? 

• - What’s the best mode of communication for you? 

• - Do you utilize the internet and social media to list your homes for sale? 

• - What makes you stand out in our local market? 

• - What should I know as a seller/buyer? 

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• - A good Realtor welcomes these questions and will be honest with you when they answer them. 

• - Don’t be surprised if the real estate pro interviews you as well! They need to know about you as much as you need to know about them. 

• - Meeting with potential Realtors help you see their personalities, and having good chemistry is essential to your Realtor-client relationship.  You will be spending a lot of time with each other. 

• - References with contact information are essential and can help you seal the deal with the right real estate professional for you and your needs. 

• - If the Realtor is new in the field, don’t count inexperience against them.  They should be eager to add your sale to their portfolio and want to offer you a great experience. 

 - Before you make that first visit to the model home, find a real estate agent to accompany you, and keep them involved in every aspect.  If you wait until after you’ve talked to the builder’s agent, you lose the benefit of having buyer’s representation. 

 - Hiring your own real estate professional is wise, because you’ll have someone with your interests at heart. 

 - Shop around for the best loan in advance.  If the builder’s lender has incentives and discounts, consider this if it will benefit you in the end. 

 - Ask for info about how many lots and homes have been sold. 

 - You need to know about each home site’s size, and how close each house is to each other. 

 - What is the investors ratio allowed in the community? This will tell you the rental the number of homes that are possibly rentals.  

 - What is the projected completion date for the new construction site? 

 - If the completion date isn’t met after we have signed a contract, is there a deposit refund or a cancellation clause? 

 - How long is the home’s warranty, and what does it cover? 

 - Is a garage or deck standard or an extra cost? 

 - Is smart technology wiring included in the basic home package, and is wiring to all bedrooms an extra expense? 

 - How much input do I have on paint colors, flooring, kitchen cabinets and bathroom finishes? 

 - What appliances are included? 

 - Is there a builder’s upgrade credit? 

 - Find out the what the builder’s policy is if they run short of materials. Most builders have the right to substitute, and you don’t want to be surprised to see mosaic tile where you thought subway tile would be in your finished home. 

 - Talk to residents who are already living in the community, and ask them about any concerns they have, and what they love about their new home. 

 - Don’t skip getting a home inspection just because it’s new construction. Humans make mistakes, and it’s better to pay extra for a home inspection to find out everything is fine than deal with something that will cost a lot in the long run. Be sure your purchase contract allows you to hire an inspector outside the building company. 

 - If the model home is one of the last homes left in the neighborhood, ask about buying it! You may not get every finish just as you’d like, but you can paint a room or change the flooring if the cost of the house with all the bells and whistles is comparable to one that’s just been finished. 

Courtesy of New Castle County DE Realtors Tucker Robbins and Carol Arnott Robbins. 

Photo credit: realestate.usnews.com

• 1. Pick your space, picture to hang, and gather measuring tool, chalk or pencil, level, hammer and nails or screwdriver and screws. Picture-hanging kits can be purchased at hardware and home stores as well. 

• 2. If the place you’ve chosen doesn’t have a stud for a nail, it is best to use an anchor and screw hanger.  These are inexpensive, and can be found in any hardware store.  Follow the easy instructions for installation for a strong mount for the picture. 

• 3. Measure up to approximately 57” on the wall; this is where the center of your picture should be--average eye height. The top of the frame will obviously be higher. 

• 4. Hold the frame up to the wall and use a pencil or some chalk to mark the approximate place for the nail/anchor screw. 

• 5. Install the hardware you’ve chosen, and hang the frame. 

• 6. Sometimes the frame doesn’t want to hang level.  Use self-stick rubber dots on the back corners of the frame; these will hold it in place, and protect the wall from damage. 

• 1. If you’re creating a gallery wall using several pieces, and include family snapshot photos, children’s artwork, art prints, and even fine art. 

• 2. Create a clean, modern look by using the same style and color frames, same color palette, or same theme. 

• 3. Use the largest picture for a focal point. Hang it first, using the 57” on-center idea. 

• 4. Make templates of your artwork with newspaper.  Lay your pictures down on the paper, and trace around the edge. Cut the templates out. 

• 5. Place the templates on the floor, or on the wall with masking tape, in any formation you like, changing the arrangement until it looks like a well-fitted puzzle. 

• 6. Not all large pieces need to be in the center; a pleasing arrangement would have the focal point hanging to the left of your display, with smaller frames hung on the right.  

• 7. Once you are satisfied with your mock-up gallery, hang the pictures using the first four tips. 

• 1. Renters or anyone who doesn’t want to bother with hammer and nails can use removeable sticky strips for framed pieces.  3M Command Strips are perfect for this easy display idea. 

• 2. Use an art ledge for an easy display. These can be purchased at home stores and painted or stained to suit your style.  Attach to the wall at the 57” level, or 12” above the furniture, and place your pictures and artwork on them--no other hardware needed! 

• 3. There are a multitude of free printables--seasonal and inspirational quotes--available on the internet.  Keep one or two spaces on your walls for a quick-change whenever you feel the need. 

• 1. Latex paint is best for walls, and oil paint is perfect for wood trim, because it seals stains.  2. Oil paint takes longer to dry, and has a strong odor, but if you add a tablespoon of vanilla extract per gallon, and open the windows, it helps keep the odor in check.  

• 3. Flat paint goes on easily, but doesn’t clean easily; glossy paint is great for cleaning, and comes in semi-gloss, and satin, but doesn’t cover wall imperfections. For a nice compromise, an eggshell finish is somewhat flat, but easy to clean. 

• 1. Choose a color for the room/s you’re updating, and don’t be afraid of using a bold color.  2. This adds character and some wow factor to your home. Neutrals are great for quick-change decorating, or if you’re thinking of selling soon. 

• 3. Using pint-can paint samples, apply a 2x2 foot area of each color on the wall you’re planning to paint, allow to dry for 24 hours, and look at them at different times of the day.  4. You’ll get a more accurate feel for the color in the different lights, and whether you can live with it or not. 

• 5. Don’t forget the ceiling! You can change the feel of the room’s height by going a shade darker (for a lower ceiling feel), or go a shade lighter or use a lighter color to give the illusion of a higher ceiling. 

• 1. Measure your room for square footage, and make sure you buy enough paint--about one gallon per 400 square feet. 

• 2. Purchase good painter’s tape, drop cloths, putty, a good putty knife, caulking, and any tools you may need for removing hardware from any doors or walls. 

• 3. Protect light fixtures, trim, or wall sconces with painter’s tape.  Move furniture and put down drop cloths. Use wall putty or caulking to fill and smooth any holes or other wall damage. 

• 4. Clean, sand, and dust walls, using a vacuum to make sure all of the dust is off the walls. 

• 5. Priming the walls is really important if you’re covering a dark color, if there are stains on the walls, or if you’re painting paneling or new sheetrock. Tint the primer with a little of your new wall color before applying. 

• 1. Paint mixing isn’t 100% perfect. Professionals mix all of the gallon cans together in a five-gallon bucket for color uniformity.   

• 2. Paint in corners and close to the ceiling with a good brush before you paint the walls, working your way down to catch drips. This process is called “cutting in.” 

• 3. Working in an overlapping W-pattern, apply paint until you need to reload the roller.  If you notice paint drying quickly, work in 3-4 foot sections of wall, but a whole wall can be accomplished in the case of a slower drying process. 

• 4. Smoothing the paint is important and is done by using what paint is left on the roller to paint as close to the ceiling and corners as possible, where you’ve already cut in. This gives a smooth appearance to the finish. 

• 5. Clean your equipment as soon as painting is done:  latex paint can be washed off with dish detergent and warm water, but oil paint should be cleaned off with paint thinner.  

• 6. Once the paint is dry, after about 24 hours, move your furniture back in, but hold off hanging anything on the walls for a few days, and don't wash them until the paint has cured, usually two weeks to thirty days.