November 2013

Interested in Buying a Foreclosure? 16 States with Increased Activity

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If you’re looking at saving big money on a house, buying a foreclosed home is an option to consider. The number of foreclosures is on the rise in several states but it’s important to consider the pros and cons before deciding to buy one.

What are the advantages of buying a foreclosure?

  • Getting a better deal if the home is in pre-foreclosure, since the homeowner will want to sell it as soon as possible.
  • Making an affordable and smart investment by buying a foreclosed home that’s surrounded by homes with a high resale value.
  • The foreclosed home will have a clear title without back taxes or liens if it’s a real estate owned property.

The disadvantages of buying a foreclosure include:

  • The home might need extensive repairs, especially if it’s been empty.
  • You won’t have a lot of time to gather money for buying the home.
  • You’ll have to fill out additional paperwork if the home is real estate owned.

The states with an increasing number of foreclosures include Maryland, Nevada, Connecticut, New Jersey, Pennsylvania and New York.

Need help finding foreclosed properties for sale in your areaContact United Real Estate, and stop by our Facebook page for buying tips.

No Yard Maintenance – and Other Reasons to Invest in a Condo

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If you like the thought of owning a home but don’t like the thought of doing yard work, a condo could be the perfect solution. Condo ownership is becoming more popular thanks to it’s ease of ownership.

Need a few reasons to invest in a condo instead of a house?

  • Low-maintenance: You don’t have to deal with mowing the lawn or raking leaves when you buy a condo, since you only own the interior of it and part of the the building’s common area. You just have to keep the inside in good shape.
  • Convenience: Buying a condo in an urban area will put you close to plenty of restaurants and stores. That means you can save money on gas, as well as wear and tear on your car.
  • Amenities: Some condos come with impressive amenities, such as fitness centers, business centers and resort-style pools that you wouldn’t have with a house.

Ready to start looking for a condo to call your ownVisit United Real Estate to see what properties are available, and stop by our Facebook page to learn more about us.

Dallas on the Rebound: Housing Market on the Rise

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The housing market in many cities throughout the US suffered during the market down turn, many markets are making strong comeback. Dallas is ranked among 2013’s fastest-growing American cities, making it a great place to buy or sell a home.

Dallas came in at number six on Realtor.com’s list of “Turnaround Towns,” thanks to a growing demand for homes. Builders have been kept busy constructing new homes for those who are looking to move to this booming city. The city’s population has been on the rise, and the city has experienced strong job growth. The housing market has shown major improvement in terms of stability. Homes in Dallas have an average listing price of a very affordable $210,000. For those who need to sell their home, now is a good time to do so. Currently, the demand for homes has surpassed the available number of homes for sale, meaning that you may earn a higher price for yours.

Planning on buying a home in Dallas? Check out United Real Estate’s available properties. Selling? VisitUnited Real Estate to find a local agent. Stop by our Facebook page for more tips on buying and selling a home.

Bad Credit? Why Mortgages Aren’t Out of the Question

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Having poor credit doesn’t mean you’ll be stuck renting for several years. It’s possible to get a mortgage although it will take some extra effort to do so.

Expect to pay more if your credit’s bad. You might need to offer a higher down payment, and your monthly payment and interest rate may be higher than they would be for someone with better credit. You should focus on working with a lender who has experience helping people with poor credit get mortgages. Your lender will want to know why your credit is in its current shape. If you ran into sudden and unavoidable financial hardship, such as job loss, medical bills or a death in the family, you stand a better chance of being approved for a loan. If your credit is bad due to missed payments or late payments, this will lower your chance of getting a mortgage. Your lender might be able to help you find ways to boost your credit before applying for a loan.

Need help getting a mortgage with bad credit score? Visit United Real Estate to find an agent, and stop by our Facebook page for more loan tips.

Selling 101: Maximizing Small Spaces With Big Colors

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The bathroom is one of the biggest selling points in a home. If yours is a smaller one, it’s important to make it seem as roomy as possible. This will help you attract buyers and get a good price for your home.

Maximizing small spaces can be done with simple changes versus a total renovation. One of the most effective and easiest ways to make your bathroom look larger is by redoing it in a bold color. Choose something like a striking shade of red or a vivid blue tone to focus on. Paint the walls that color, then add accessories, such as hand towels and a toothbrush holder, in the same tone or in complementing colors. If your bathroom has a window, put up curtains that match as well. When choosing a big color, try out a sample of it on your wall first to see if you like it. If not, you can cover it up and try a different color.

Ready to start the selling process? Visit United Real Estate to find a local office, and stop by our Facebook page for more advice and tips on selling a home.

Hung Jury: Does an In-Ground Pool Make a Good Investment?

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Putting in an in-ground pool might seem like a guaranteed way to boost your home’s resale value, but you might end up being disappointed. These pools don’t always translate into higher values on homes.

It’s important to weigh the pros and cons before deciding whether to get one:

  • Location: Where you live can make a difference between getting a higher return on your investment or getting nothing in return. If you’re in an area where it’s warm or hot almost all year, having a pool is a big advantage. You might want to focus on boosting your home’s value in other ways, such as remodeling, if you live in a place where the pool would only be used for a few months.
  • Cost: In-ground pools can cost up to $40,000 to install, and you’ll be facing higher property taxes once you have one. You’ll also be dealing with higher liability insurance payments.
  • Maintenance: Although these pools are fun and relaxing, they also require a lot of maintenance that potential buyers might not want to do on a regular basis.

Thinking of putting your home on the market soon? Contact United Real Estate, and visit our Facebook pagefor selling tips.