Selecting a Professional to Appraise Your Home

A home appraisal is the best (and probably the most accurate) way for you to determine the worth of your property. With this knowledge, you can avoid overpricing your home and also defend your selling price in the event that a buyer questions it. In order to ensure a just home appraisal, it’s important to hire a professional appraiser, and this requires that you evaluate him thoroughly before hiring him.

1.       Check him for his license to practice – Unless the appraiser you’re considering falls under the Grandfather clause of the Philippines’ Real Estate Service Act (RESA), he should have taken and passed the real estate appraisal exam in order to obtain a license.

2.       Ensure that he has experience working with homeowners – When a property appraiser works for a loan officer, his main task is to evaluate a home so that they’ll have an idea as to how much mortgage to grant a buyer. It’s different when working with a homeowner, in that an owner usually asks questions like what they can do to increase their home’s value, which an appraiser should be able to answer.

3.       See to it that he’s very familiar with your kind of property – Doing so will ensure that his process of evaluating your home will be customized to the type of residence you own. If you have a condo unit you want to sell, it would only make sense to get an appraiser who does condos instead of houses.

4.       Make sure he knows your area well – The similarities that one house has with another won’t indicate that they can be sold for the same amount of money; if they are located in very different areas; their prices can be as different as night and day. This is why it’s important that the appraiser is aware of everything that’s going on in your area, such as what civic developments are in action (zoning issues, infrastructure, etc.), what kinds of homes are normally in that location, and what amenities are in close proximity of the home (businesses, schools, malls, etc.).

5.       Check his references – Tell him you’d like to contact some of the people he has worked with before so you can assess his capabilities as an appraiser. It would also be a big plus if he is part of groups such as the Institute of Philippine Real Estate Appraisers (IPREA) and the Philippine Association of Realty Appraisers (PARA), as these organizations make sure that their members always conduct their practices ethically, and they also provide seminars and training to members who would like to further their training in the industry.

It’s considered a big mistake to set too high a selling price for a home because it will keep your property from being sold for a long time. The key to preventing making this error and sell your property is to get an appraisal from a professional with great qualifications.

A Guide to Negotiating the Terms of Your Lease Renewal

When your lease ends and you want to renew it, you have to be ready for the possibility that you might be paying a higher rate this time around. The good news is that you don’t have to feel forced to get used to this fact. Because your landlord opened up the idea of you renewing your lease, you can say that he thinks you’re a great tenant. If this is so, he might be open for a negotiation, but you shouldn’t go into it unprepared or he might shoot down your proposal right away. It takes a well-crafted proposal to get a great response, and you can use these guidelines to help you make your argument work.

1.       Research on the current rental market – Don’t talk to your landlord about what you want until you have substantial information about the rental market to present to him. Search your area for other apartments for rent, inquire about rates and the amenities included and show all the data to the landlord. Avoid making your proposal sound like a threat (“If you don’t agree, can live somewhere else”); just have him know that these apartments offer more comfortable rates for your current financial situation, but that you’d like to know if he is willing to make a better leasing deal with you.

2.       Emphasize your great rent payment record – Landlords need to pay the rental’s mortgage and other expenses on time, so they like it when tenants make a habit of never handing their rent money late. If paying on time and never having a bounced check is something you can claim, then by all means, let the landlord know about it. Have him understand that you can easily keep up this habit if he will give you a discount on your rent. If there’s no talking to him about the rent, find out if he will be amenable to reducing or eliminating your other costs, such as parking.

3.       Stress your maintenance history – While the landlord is responsible of maintaining the apartment, they are really grateful to tenants when they’re not called over for the smallest issues. But what they’re even more pleased about is if you summon them to repair a particularly sizeable damage so it won’t get worse. If this had been the way you treated maintenance and repair issues in your rental, make sure he remembers it. The landlord may agree to postpone (or at least lower) the rent increase if you promise to look after the rental well because it will mean less money and effort spend from their end.

4.       Offer to stay for longer than his proposed term – Look at your living situation (the neighborhood, the apartment complex, the neighbors, etc.). Do you see yourself living there for a long time? If your answer is “yes”, then take advantage of lease structures; if the landlord’s renewal offer is only for six months, tell him you‘re willing to sign a lease for one year as long as the rent stays the same.

Rent almost always increases when a tenant’s term comes to an end, you shouldn’t assume that this rule is set in stone. Using these tips, you might be able to craft a great argument for not getting a rent increase without damaging the relationship you and your landlord have.

Finding a Rental Property with Your Pet

Tenants that don’t own any pets are often the preference of landlords because any kind of pet has the tendency to ruin the rental and the things in it, cause disturbance with the other tenants and generate terror or displeasure with those who are not particularly fond of animals. On the other hand, there are ways to deal with these issues so that you can get the house, apartment or condo for rent that you want. Find that great rental and get the landlord to choose you as a tenant even with your pet by following these tips.

·         “Pet owners need not apply.”

If you are rushing to leave your present home, it would be better to look strictly for rentals with landlords that say they allow pet ownership. As nice and friendly as your companion is, it might be hard to change the mind of landlords that really don’t like tenants with pets.

·         Prepare a resumé (Your pet’s, not yours)

Seriously, when you craft a resumé that lists information about your pet, your landlord will know that you are not only reliable, but you’re always prepared. Certificates and awards from obedience school, the record of his shots from his vet and the steps you take to keep him flea- and tick-free are some of the things you want to include in the resumé.

·         Gather references

If you’re coming from another property for rent, don’t forget to ask the landlord over there to give you a reference letter that describes how responsible you were in caring for your pet and the rental. To those who are exiting their parents’ home and living on their own for the first time, you can go to a neighbor for a recommendation letter.

·         More money, less problems

Most landlords ask for a deposit equivalent to one or two months’ rent, but there are those that ask for less than that. Either way, you should offer to add to the amount that the landlord proposes so you can guarantee that your pet will behave itself in the duration of your stay.

·         Insurance is your best friend

Again, many landlords choose to rent out to tenants without pets because they’d prefer not to be burdened by the damage and injury that pets can cause. You can assure the landlord that he won’t have to be liable for any damage or harm if you get renters insurance.

When it’s time for you to leave the rental condo, house or apartment, be sure to clean it well and return it into its original condition. This will keep you from being seen as a careless tenant since you didn’t keep your end of the deal. In addition, you need to make sure that you have a great relationship with your landlord until the end because if you’re moving to another rental, you’re going to need to ask him for a recommendation this time.

How to Sell Your Own Property Successfully

Homeowners who are concerned about spending as little as possible during their home sale believe that doing it without a real estate broker is the way to go. Yes, it’s true that it can help you save money, but to do this, you’ll have to be highly knowledgeable about real estate. Conducting an FSBO (for sale by owner) is much harder than selling with a professional by your side, but if you’re patient enough and have managed to collect a lot of information about it, you can do it successfully. These steps will tell you how to do an FSBO with as little trouble as possible.

1.       Do some research – If you’ll be selling a home for the first time and you have little to no knowledge of real estate, then you’d better prepare yourself for a lot of studying. Get to know the whole method of how to sell a house, starting with setting up the property and ending with the closing. Don’t forget to familiarize yourself with the papers that you’ll need throughout the whole thing, like the house appraisals, the title and the legal documents. Also, remember that you’re in charge of finding a real estate lawyer, a property appraiser, a home inspector and anyone else directly involved in the process.

2.       Prepare your house – View your property how you think a potential buyer will look at it. It doesn’t matter if the problem you find is related to operations or aesthetics; if it exists, you need to find it. As soon as you spot them, you can determine which of them you’ll need professional help with and which ones you can take care of on your own. Once everything has been fixed or tuned up, clean every nook and cranny of your house (especially the kitchen and the bathrooms) and prepare it for future showings by staging it.

3.       Price it right – One mistake that can cost anyone trying to sell a house (especially on their own) is to overprice it. When a property is priced above its real value, it will drive prospective buyers away and will keep the house on the market for a long time, where it can slowly lose its value. If you want to know the best listing price of your property, you should hire a property appraiser, see how much the recently-sold properties close to yours were bought for, and find ‘for sale’ properties nearby that are similar to yours and see what they’re listed for.

4.       Market your property – One incredibly useful technique of publicizing your home is by using online real estate listings, where sellers can share photos of and information about their property so that buyers can see and determine if they want to see the house for themselves. It would also be good to use Facebook and other social media, and post an advertisement in internet discussion boards. If you are a traditionalist and would prefer a more conventional approach, you can stick a “for sale” sign on your house and publish an ad in a newspaper’s ‘classifieds’ section.

5.       Filter and discuss – When you’ve already attracted enough interested buyers, you can determine which of them are serious by finding out which of them have already have loan pre-approvals. At the negotiation stage, be sure that you stay calm; pay attention to the buyer’s proposal and try not to lose your patience. If the buyer is trying to get you to lower your selling price and you don’t want to budge, be sure to have reason to insist that your original price is the right one, like home appraisal documents and the situation in the current real estate market.

6.       Close it – Upon getting to the closing part of the deal, have all of the paperwork ready and hire a real estate lawyer check them to determine if they’re in order. As in any deal, a lot of things can delay the process (postponed mortgage approval, further negotiations of the price following an appraisal or inspection ordered by the buyer, etc.), so make sure that you can adjust.

FSBOs can be done, but it’s going to take a lot of work. Just make sure that you gather enough information, learn great marketing strategies and have the right mindset so that your sale will prove to be a success.

How to Select a Property for Your Retirement

The minute that people reach their retirement age, they make one of the most significant changes in their lives: transferring to a new dwelling. For those whose conditions have deteriorated, moving to a retirement home is usually the ideal set-up. However, those who have managed to stay in shape (and have the money) should seriously think about putting in an offer on a house for sale.

To a retiree, owning a home would be beneficial in a lot of ways. One is that they can rest easy knowing that they are living in a place that they own. Another is that they can make their living much easier by doing any renovation they feel that they need. Now that you’re convinced that buying a home is the right move, here are some of the things that you need to consider to choose the most ideal one.

Area – If cold weather has become intolerable to you, it would be best to go to warm areas to look for available properties. In addition, it would benefit you to look for properties that are in close proximity to establishments that you have to visit on a regular basis (convenience stores, hospitals, banks, etc.) if health conditions are preventing you from constantly travelling far.

Community – Anyone who retires would prefer to be able to do so in a safe neighborhood, so don’t forget to inquire about the safety. Because you have to prioritize your well-being, it’s also necessary that you make sure the place is basically pollution- and noise-free.

Size – Just because your kids are grown-ups and don’t live with you doesn’t mean they won’t be coming over for visits, which is something to think about when determining the size of the home you want. Pick a property that you won’t have trouble maintaining, but that is still big enough to house overnight guests like family, or people who may need to help you in the future, like a live-in nurse.

Features – While looking at an available home, you have also have to think about your future in it. A person’s health gets worse as years go by, so it’s important that you be able to choose a home with features that will make living in it better, not worse. After a decade, do you think you can still climb up and down the stairs by yourself? In the event that you should need a wheelchair, will it fit through the property’s corridors and doorways with no trouble?

Price – Do you think that you can purchase a house & lot outright with the savings you have in your retirement fund? If you can’t, then do you think that monthly mortgage payments would be easy to pay for on your current financial situation? You have to find out the average selling price of properties nowadays and the rate or appreciation or depreciation. Furthermore, since the actual price of the home won’t be your only expense, you need to be prepared by determining other money matters like closing costs, property taxes and homeowners’ association fees.

If you’ve been breaking your back at work for a long time, you deserve to kick back and relax in your very own home. You can make sure that these years will be enjoyable as long as you pick a home based on these elements.

Low-Cost Remodeling Ideas for the Kitchen

The kitchen is the most common place where the family goes to bond and communicate with each other, making it the heart of the home. It is therefore only right that you renovate it to ensure that it stays as stylish and as practical as when you first moved in. The only problem is that few families are able to afford complete kitchen remodels; this kind of expense is normally put in the back burner when a budgeted family lays out the more important things that they need to spend on regularly.

The good news is that promoting family closeness through a kitchen remodel doesn’t have to cost an arm and a leg; all you need to do is focus on making seemingly small changes that will have a great overall effect on the room. These renovation suggestions are sure to positively change your kitchen while letting you stay within your budget.

Add a splash of color

If you can’t spend a lot of money on your remodeling, the best and quickest way to spruce up your kitchen is with a new paint job. Light colors will transform a dark and cramped kitchen into a bright and spacious one. Also, since a lot of cooking tends to get kitchen walls dirty very fast, it would be a good idea to use semi-gloss latex paint that’s east to wipe clean.

Clean up your mess

Clutter is often a kitchen’s biggest problem, especially since you have all kinds of appliances, cookware and utensils scattered all over the place. Reorganizing your kitchen is a great way to give it a nice boost. You can ensure that the items in your kitchen are never out of place and that the entire room itself looks neater and bigger by purchasing some inexpensive storage bins and racks. Once you’re done enhancing countertop storage, bring your attention to the possibilities of wall storage with shelves and racks as well.

Decide whether or not to replace your storage

Don’t detach your cabinets and drawers and buy newer versions without a close inspection. You need to spend quite a bit when you replace drawers and cabinets, so if there are no real signs that they’re damaged, it would be wise to keep them. If they’re sporting some wear and tear due to years of use, apply some fresh paint or finish to get them looking like new again. If the handles and pulls are broken or discolored, replace them with new and better-looking ones.

Change the lights

You can give your kitchen an ambiance makeover by playing with the lighting style. If you even out your use of natural and artificial light, you’re not just improving the kitchen’s brightness but you’re also being cost-effective. If you’re using incandescent bulbs, replace them with energy-saving options like halogen lights, which also last for a long time. You can maximize your use of natural light by removing clutter from the window sill, cleaning the panes of decals or dirt and then hanging up sheer drapes.

When you create a plan for your remodeling project, particularly if you have an older home, you have a better shot at staying within your budget. These tips are designed to make sure that you don’t spend a lot in an effort to achieve a new look for your kitchen. In doing so, you’ll be able to have a better remodeling experience and will be able to savor the fruits of your hard work later on. Have fun!

Storm Season Power Outages and How to Get Ready for Them

As soon as the wet season comes around, a month normally doesn’t go by without bringing a storm or two along with it, and some of them are even powerful enough to bring down power lines. If during the last power outage your family had hurt themselves walking into furniture, had had to grope the walls in the dark and had complained of being hungry, you probably didn’t get your home ready enough for the blackout.

If you want to avoid having to turn your home upside down in the dark trying to find the candles and flashlights, these tips can get you ready for the next storm-caused blackout.

·         Choose a drawer or cabinet in the house where the matches and candles will be kept, and be sure to tell everyone (every adult, that is) where they are so you can reach them quickly.

·         If you prefer flashlights to candles in a power outage, don’t just buy one or two; having three or more will assure that people can do different things at the same time (go to the bathroom, eat, etc.) with enough light. Other things that work really well during these times are battery-operated or rechargeable lamps.

·         Since you’ll be using a lot of lights that run on batteries, it would only make sense that you have fresh batteries where you’ll be keeping these lights so that when the lamps or flashlights lose light, you don’t need to take batteries from toys or gadgets in the house.

·         If you cook on an electric stove (which obviously won’t work without electricity), make sure that you have a stock of food that don’t require cooking, like canned food.

·         If your refrigerator is stocked with food and the power is out for a long time, there is a risk that the food will spoil. You can prevent this for as long as possible if you freeze water-filled plastic containers beforehand, which you will use to keep the food cool until the power comes back on.

·         In pitch black surroundings, there’s always the possibility of people getting hurt. Arrange a first aid kit containing basic supplies like antiseptics, band aids and medicine for emergency situations.

·         You can still get information about the storm, news about road accessibility and warnings about evacuation even without the television if you have a battery-powered AM/FM radio within reach. 

·         It would be smart to have some money stashed in a safe place in your house to be used in case of an emergency. It’s going to be difficult to find a working ATM should the blackout affect your whole neighborhood or city.

Once you read about a storm in the weather news, be sure to put these plans into action. If you want to ensure that you can access all of your emergency supplies during a power outage, make things easier by keeping everything within reach.