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Buying and Selling a Home at the Same Time? How to Juggle These Two Transactions There are few things that can be more stressful than buying or selling a home. When you are buying and selling a home at the same time, your stress level may understandably skyrocket through the roof. There may be financial aspects of both transactions that may be cause you stress, and you may be dealing with logistical issues or simply feel stressed by the stacks of documents piling up for both transactions. While this will inevitably be a challenging time in your life, you can more easily navigate through the transactions with success by following a few tips.

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Consider the Timing of Both Transactions

One of the best things you can do when buying and selling a home at the same time is to plan ahead and consider the timing of both transactions. You may get lucky enough to get an offer on your home from a buyer who wants to close just a few days before you close on your new home. However, it is more likely that these two transactions may be finalized weeks or longer apart from each other. You may need to plan on finding an interim home or paying double mortgages for a period of time. You may consider which of these two options is more preferable to you based on your work situation, your family's needs and your budget.

Prepare a Budget Ahead of Time and Update It Periodically

Financial stress can mount during this period of time. You will need to make a good faith deposit and pay for third party reports and mortgage application fees for your new home purchase. You may also need to pay money to make repairs and to stage your current home before you list it. It is common to rent a storage unit and to pay for boxes and moving supplies as well.

In addition, a buyer for your current home may request that you make repairs to your home before closing. It is important that you prepare a budget so that you can pay for all of these expenses as they arise, and you should consider leaving yourself ample funds for unexpected expenses. If you run into a cash crunch, consider completing the sale of your current home entirely before going under contract with your new home purchase.

Use the Same Real Estate Agent for Both Transactions

The knowledge and support of a real estate agent can be beneficial to you for both transactions, and you may consider using the services of the same agent for both. Dealing with one person who is familiar with your goals and needs can be truly beneficial to you throughout the entire process, and he or she may offer insight about the best steps to take to make the transition from one home to the other smoother for your family.

While buying and selling real estate can be stressful, you do not have to make the process more difficult than it needs to be. You can set up a time to meet with a real estate agent today to begin discussing your plans and to take the initial step.

What's Ahead For Mortgage Rates This Week - June 22, 2015

by Wayne Turner

What's Ahead For Mortgage Rates This Week - June 15, 2015

Retail Sales, Consumer Confidence Up

Retail sales rose for the third consecutive month. May sales increased at a seasonally adjusted rate of 1.20 percent according to Commerce Department data. Auto and gasoline sales led the charge to higher retail sales, but analysts said that most retail sectors posted gains. Upward revisions of March and April's retail sales provided evidence of stronger economic conditions.

Consumer sentiment jumped nearly four points from May's reading of 90.7 to 94.6 in June. This appears to be great news compared to the year before the recession, when consumer sentiment averaged a reading of 86.9.

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Weekly Jobless Claims, Mortgage Rates

Weekly jobless claims rose last week and were also higher than expected. 279,000 new jobless claims were filed against an expected reading of 275,000 new claims and the prior week's reading of 277,000 new jobless claims. This was the fourteenth consecutive week that new jobless claims remained below 300,000, an accomplishment that hasn't occurred in 15 years.

Mortgage rates rose sharply last week according to Freddie Mac. The average rate for a 30-year fixed rate mortgage jumped from 3.87 percent to 4.04 percent; the average rate for a 15-year fixed-rate mortgage rose from 2.08 percent to 3.25 percent and the average rate for a 5/1 adjustable rate mortgage increased by five basis points from 2.96 percent 3.01 percent. Average readings for discount points were 0.60 percent for 30 and 15 year mortgages and 0.40 percent for 5/1 adjustable rate mortgages. Higher mortgage rates may sideline some home buyers as they wait to see if rates will drop or are priced out of the market. Expectations that the Fed will raise its target federal funds rate this fall may be fueling higher rates.

What's Ahead

Next week's economic news schedule includes more housing-related readings. The National Association of Home Builders Housing Market Index, the Commerce Department's reports on Housing Starts and Building Permits along with the weekly reports on new Jobless Claims and Freddie Mac's mortgage reports are set for release. On Wednesday, the Federal Open Market Committee of the Federal Reserve will release its post-meeting statement and Fed Chair Janet Yellen will also give a press conference. These events are important as they may shed light on the Fed's intentions for raising rates. When the Fed raises the target federal funds rate, mortgage rates and interest rates for consumer credit are expected to rise as well.

Hunting for the Best Local Schools? Here Are 5 Checklist Items You'll Want to Look ForThere are numerous factors that you may review when choosing a new place to live. If you have children, the quality of the schools and the level of education that your kids will receive in the schools is important. However, you may not be certain how to determine if a school is good or not. When you are looking at schools, use this helpful checklist to guide you in making a great decision.

Click here to search the St Tammany now, for your new home!

Achievement Data

One of the easiest factors for you to research about different school districts and individual schools is achievement data. This may include the percentage of students graduating high school versus dropping out, the enrollment percentage for college, SAT and ACT scores and other relevant data. This is typically published online, or a call to the district's office may provide you with the information.

Student to Teacher Ratio

The student to teacher ratio can vary drastically between school districts. This will impact how much personal attention your child receives as well as how crowded the classrooms are. Generally, the lower the number, the better overall experience your child may receive.

A Safe Location

The last thing you may want is for your child to be exposed to safety issues or to feel threatened or intimidated in school or while getting to or from school every day. You can research crime statistics online for the area surrounding the schools, and you can visit the school personally to visibly inspect the area.

Extracurricular Activities

The school age years are a time for kids to experience many new things. Everything from a drama and art club to a wide range of sports can benefit kids. Consider reviewing extracurricular activities available for younger and older students alike so that you can get a better idea for the experiences that a child may have outside of the classroom.

A Positive Environment

A final important factor to consider is the environment in the school. You will need to set up a tour of the school to experience this yourself. The staff members and students should be happy and positive. Remember that this is a place where your child may spend many long hours each day.

Where you choose to live will impact what school your child attends. Therefore, it is important to review the schools carefully before you make a final buying decision for a new home.

Niche Marketing: How to Market Your Home as the Perfect Rental or Investment Property When a homeowner is preparing to sell a home, it can be beneficial to determine the target audience that is most likely to be interested in the property as an important initial step. In some cases, it is advantageous for a homeowner to position a home as a great rental property or investment property, but this requires the right strategy. By adopting a few niche marketing steps, homeowners can work with their trusted real estate agent to market a property appropriately.

Click here to see foreclosed properties on the Northshore! 

Create A Cash Flow Sheet

Buyers who are searching for a rental or investment property are looking for a return on their investment in most cases, and they also may want to see how large of a down payment is needed in order for the property to realistically turn a profit. A real estate agent can work with a property owner to create a cash flow sheet that details all of this information for a buyer.

Show Comparable Rental Properties

A real estate agent can also research comparable rental data to help a property owner determine what a realistic rental rate may be. Property buyers want to know that the information provided to them in the cash flow sheet is realistic, and comparable rental data can give buyers the details they are looking for. More than that, this information may also show the average number of days similar properties stay on the market for rent and how many similar properties are available for rent in the vicinity.

Appeal To Agents Specializing In Real Estate Investments

Some real estate agents specialize in assisting investor clients, and some have standing clients that they actively seek great properties for. A skilled real estate agent may announce the listing to these agents so that they can bring the property to the attention of their clients. This focused marketing effort can yield considerable returns, but the real estate agent generally must take the initiative to contact these agents.

Some properties may be marketed as family homes or vacation homes, but others are well-suited for being rental or investment properties. Homeowners who are preparing to sell their home can work with a real estate agent to learn more about who their target audience is and how to market specifically for them. Those who are interested in learning more about how to sell their home quickly can set up a consultation with Turner Real Estate and get information 985-626-1313.

Get Rid of Wi-Fi and Cellular Dead Zones in Your Home with These Easy TipsIt can be frustrating to deal with dead zones with your wireless and cellular coverage while you are out and about. However, overcoming dead zones in public areas may be as simple as relocating to a different area in a building or walking to a new location. Dead zones may also be present in residential homes and apartment buildings. If you have a dead zone in your home, this issue can easily cause you considerable frustration on a daily basis, and you may be wondering what steps you can take to overcome the problem.

Invest in a Better Router

If your router is not hard-wired and receives a wireless signal, it can be difficult to connect to the Internet or to use your mobile devices in your home. Your router may not be strong enough to pick up a wireless signal, and you may benefit from investing in a better router. You may also consider repositioning your router or placing it in another location of your home. For example, you may get a better signal when you place it near a window on one side of the home rather than in the middle of the home.

Purchase a Wireless Repeater

Another idea is to invest in a wireless repeater. This is a special product that is designed to pick up weak signals and to magnify, strengthen and expand them. A repeater can give you far superior coverage inside your home, but keep in mind that there does need to be at least a small signal available for it to pick up. If your carrier or service provider does not offer coverage over your home area, this will not be a suitable option for you.

Think About a Wired Connection

Another idea is to consider a wired connection. Your goal is to bring the wireless signal into the home, and you may be able to do this through cable. Then, your router can give you wireless coverage inside the home through the hard-wired connection.

Nobody wants to deal with dead zones inside their home. After all, most people will use a wireless connection numerous times a day from morning until bedtime, and you want to enjoy this convenience inside your home. When you are dealing with a dead zone, you can consider following some of these tips to see an improvement in your coverage or signal strength. If these ideas do not work, you can always reach out to your service provider for additional assistance and support.

Put Your Game Face On: How to Negotiate with a Home Seller and Their Real Estate AgentAll real estate transactions come with at least some negotiations, and some transactions are heavily negotiated from start to finish. As a home buyer, you understandably want to negotiate the best overall deal possible while successfully reaching your goal of closing on the home you have fallen in love with. To be truly successful with this process, it is important that you understand how to negotiate with the seller and the seller's real estate agent.

To choose your own Buyer's Specialist who will exclusively work for you and not the seller, click HERE.

Understand The Seller's Position

In order to be successful with negotiations, you will need to understand the motivations and desires of the other party. A seller may have an emotional attachment to his or her home, but he or she also may have a desire or need to move. Some may have a firm bottom line for a price that they can accept or concessions that they are able to pay for out of pocket. While some may be unreasonable, most are willing to compromise and negotiate provided that your offer is feasible for their financial situation.

Define Your True Requirements

Just as a seller will have a hard and fast bottom line, you also may have specific requirements that you need to meet. This may be a firm closing date, the need to have some of your closing costs paid or a firm sales price that you do not want to exceed. While negotiations inevitably may have you asking for slightly more than what you truly need, it is important to define for yourself what your true requirements are and to remain focused on these when negotiating.

Be Willing To Compromise

When offers and counter-offers are flying back and forth between a buyer and seller, it is easy to feel stressed and even challenged by the other party. While there are times when a seller's counter-offer may be unreasonable, most are reasonable and fair within limits. You may decide to submit a counter-offer as well, but some compromise will show the other party that you are willing to work with them.

From negotiating a sales price to asking the seller to make some repairs to the home after the inspection has been completed, there may be different times during the process when you need to negotiate. Consider these tips to help you more successfully negotiate with the seller and seller's agent. A skilled real estate agent can also be instrumental with representing you during negotiations, and you can seek assistance from an agent today at 985-626-1313

Concrete Countertops: Learn Why Concrete May Be the Best Thing to Hit Your KitchenUpdating your kitchen may be a project that you have been looking forward to for a long time. Now that the time has come to get started working on your project, you may be exploring the different materials that are available to use in your kitchen. The counter tops are often a prime focal point for a kitchen remodeling project. While there are several materials available to consider, concrete may be the best option for a number of reasons.

To check out North Shore Service Providers in the area, click here! 

Endless Design Options

Concrete is a popular material that is used on patios, decorative floors and more because it can be stained, scored and shaped with almost endless possibilities. Just as the design options are limitless for other areas of the home, the same holds true when using concrete for your counter tops. You can customize the size, shape, finish, edge style and color without limits to achieve the desired look for your space.

Affordable Material

Concrete is not quite as affordable as laminate counter tops, but it is far more affordable than most other options. It also has a higher end look than laminate, and it can be poured, scored, and stained to mimic other higher end materials. This is a great way to get a luxurious look for your counter tops without paying a high price for them.

Highly Durable

Like many other materials that you may be thinking about for your counter tops, concrete will need to be sealed for long-lasting beauty and style. Once sealed, this is a material that is resistant to damage from heat exposure, staining, water exposure and more. Essentially, it is one of the most durable materials that you can use in your kitchen.

The kitchen is by all accounts a functional room, and counters will be exposed to heat, water, sharp edges and more over the course of time. Concrete is a material that holds up well in this type of environment.

It is rarely easy to select the perfect materials to use in your home remodeling project. After all, you may be concerned about style, durability and cost, and each material may have pros and cons. After discovering the benefits of concrete counter tops, however, you may have found the material you are searching for. You can request a quote for your concrete counters and review the incredible design possibilities.

Saving Up for Your Down Payment? Try These Money-saving Tips to Speed Things UpOne of the most significant challenges that many people face when preparing to buy a first home relates to saving money for a down payment. While there are many different loan programs with varying down payment requirements, the fact is that it can still be difficult to save up a large sum of money. Some programs may require you to save as much as 10 percent or 20 percent of the sales price of the home.

Talk to a Lender today, they can help you decide how best to save and affect your credit positively as well! Click here to talk to someone on the North Shore today! 

You can employ a few different tips and techniques to save money for a down payment more quickly, and these are some of the options that others have successfully used to save money for their home purchase.

Make Saving Automatic

One idea that works well for many people is to make saving for your new home automatic. This may be as simple as scheduling a regular draft or transfer from your checking account when your paycheck is deposited into your savings account. Some employers may even facilitate this process by contributing some of your funds into a savings account on your behalf. With this option, the money would go directly into your savings account without you having a chance to spend it.

Take Advantage of Retirement Accounts

If your employer provides you with the option of investing in an employer-sponsored retirement account, you should take advantage of this option. Many will offer a dollar-for-dollar matching program, and this may essentially double the amount of money that is saved in the account.

More than that, the funds from many retirement accounts may be withdrawn without penalty if they are used for a first-time home purchase. There are some rules and regulations regarding this, so you should research this option more thoroughly.

These are among the two best options for saving money for a down payment for your first home purchase. There are other ideas that you can consider as well. For example, you may borrow from a whole life insurance policy, obtain a gift from a family member or even sell some of your personal belongings that you no longer need or use.

When you combine many of these ideas together, you may be surprised how quickly your down payment fund can grow.

Received an Offer for Your Home? How to Respond with a Counter-offer Asking for a Higher PriceGetting an offer on your house is the first step in getting it sold, but buyers often feel that they have to come in lower than your asking price. After all, everyone wants the deal to work out in their favor. If the offer you received isn't quite what you hoped, you can always make a counter-offer. Getting the details right can help make your deal go more smoothly.

Click here to see my other tips for Sellers and "Why to Never Hire a Real Estate Agent that..."

Deciding On A Price

When your real estate agent helped you set the price of your home, you already had an idea of what it should fetch in the marketplace. If the offer wasn't far off from your asking price, it's acceptable to counter with your original asking price. Many buyers could be willing to pay full price. If you feel that technique is a bit brazen for your style, you could instead drop the original price by a few thousand dollars.

Another technique is to try to "meet in the middle". For example, if there's a $10,000 difference between the asking price and the offer price, you might offer to drop the price $5,000. Of course, the bigger the difference, the less enthusiastic you'll be about dropping your price.

Factors To Consider

Keep in mind that the actual selling price of the house isn't the only thing that will be negotiated. If you're giving in a little bit, then you should expect to get a bit in return, but the same is true for the buyer. For example, a first-time homebuyer might not have a lot of money for a down payment. If you counter with an offer that's too high, they might respond with another offer accepting the price, but asking for seller's concessions at closing time.

Additionally, as you start to come down in price, you might consider taking out items that you might have included in the original offer, such as high-end appliances.

Don't Forget The Fine Details

Discuss the details of what you want with your real estate agent. They'll be able to let you know if you're making the right move, considering the current market in your area. They may also have information about the buyers, such as an educated guess about how high they're willing to go. Your agent will also have all the paperwork you need readily available. In most cases, all you have to do is fill in the blanks in a few spaces.

You want the highest price for your home, but getting the best deal is often a delicate dance. Know your limits and work together with the buyers to reach an agreement that is mutually beneficial.

St. Tammany Parish Environmental Services

by Turner Real Estate Group

We sell many homes at Turner Real Estate Group, so we always have buyers and sellers asking us about well and septic certificates. Therefore, we thought we would create this handy blog to guide those looking for more details.

To get a well or septic certificate in St. Tammany Parish, you must go to the Department of Environmental Services. Their office is located at 21490 Koop Rd. in Mandeville, La.

Directions: From I-12 - Get off at the Hwy. 59 exit heading north towards Abita Springs. Turn left on Koop Dr. Look for Building "B" - it's the second on the left.
The Environmental Office is on the first floor on the right, and the water department is upstairs in suite 2B.

The cost of a well (water) certificate is $75.00, and the cost of a septic certificate is $25.00.

For more information on real estate in St. Tammany Parish click here, and to see homes available for sale click here.
 

 

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Turner Real Estate Group - 111 N. Causeway Blvd., Suite 101, Mandeville, LA 70448.  985-626-1313. 
Broker licensed in Louisiana and Tennessee. Sales Associates licensed in Louisiana.
Mandeville Real Estate - Covington Real Estate - Slidell Real Estate