Renovations

Will provide you with valuable information regarding the care and maintenance of your home as well as remodeling and renovation ideas that will enhance the livability and value of your home.

Found 25 blog entries about Renovations.

Construction Loans ~ Which are best?

There are two types of construction loans used by homeowners;
1. One-time-close loans
2. Two-time-close loans

With all construction loans, money is disbursed by the lender based on a pre-established construction draw schedule. The goal is to only pay for what has been completed, minus retainage, typically 10% of the cost of the project, which is held back until everything is completed properly and the owner has issued a certificate of occupancy (CO).

One-Time-Close Construction Loans...

This loan has one approval process, and one closing, simplifying the process and reducing the closing costs. Typically, the borrower can choose from the portfolio of mortgages offered by the lender such as 30-year-fixed, or

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Water related damage causes millions of dollars of damage every year.  Homeowners insurance generally covers household water damage if the damage is sudden and accidental, such as damage caused by burst piping.  But there are steps that homeowners can take to prevent problems and insurance claims.  A water damage claim can be a red flag to insurers as well as future homebuyers.  It is better to take preventive action than face the risks of increased insurance costs and reduced home marketability.  Here are some ideas for you to consider.

1. Use copper tubing or braided stainless steel over rubber for ice maker supply lines,   dishwashers, toilets and faucets.  Plastic tubing can harden over time and crack.   

2. Install braided, no burst hoses on the

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I recently heard a story of one tough contractor.  He was apparently working off of a ladder in the home of a client, installing some framing at or near the wall and ceiling line.  As you might expect he was using his Paslode nailer to secure a 2x10 to the wall and the homeowner walks in.  It was at this split second that the nail left the Paslode gun and prior to entering the 2x10 entered the finger of the contractor; firmly securing his finger to the 2x10 and wall.  But this was one tough guy; he turns to the homeowner and listens to them while being nailed to the wall.  Once the homeowner finished talking the contractor removed his hammer and pulled the nail from the 2x10 and from his finger, and let a scream that could be heard from miles away.  This

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I am frequently asked by homeowners for suggestions on how to maintain their home or what they need to do as preparation to sell their home. I always recommend a pre-listing inspection because you don’t end up having to renegotiate the price after the buyer has an inspection done. However, in these tough economic times people’s budgets are tight so here is a checklist of some things to look at.

  • Clean the gutters and remove debris from the roof. Example: pine straw collecting in the valleys, small tree limbs.
  • Remove tree limbs overhanging the roof and or limbs with direct contact to the roof shingles.
  • Remove grade or pine straw/mulch from contact with siding. Provide a minimum 6” clearance between the ground and sill plate to prevent water
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I initially began purchasing rental property as a way to diversify my wealth-building strategy. After I acquired three houses, I noticed that over the course of six months, my rentals were far out-performing my IRA and 401(k). I decided to pull my money out of the financial markets and reinvest it into building a strong rental portfolio. I’m not saying that this is a strategy everyone should employ, but I will say that anyone looking to build wealth should at least review the real estate investment vehicle.

The housing market crash has become a distant memory, and home prices are looking healthy again. That means there are good opportunities for investing in the residential real estate market.

If you’re ready to borrow for a residential

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Physician Mortgage Loans are a great option for Doctors! No money down. No jumbo limits. No private mortgage insurance (PMI). Finally, it seems like a product exists to reward physicians for their time training to be a physician.

At this point in the home buying process, they’ve already made a solid decision about how much to spend on their home and will have their finances in place.   So, the next step is to decide how to finance the home and whether a physician mortgage loan is the best option.

What’s So Special?

So how is the physician mortgage loan different than a typical mortgage? Here are some of its common features:

  • Zero (or very low) down payment required

  • No private mortgage insurance “PMI”

  • No rate

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You would think that once a buyer and seller have agreed on the price and terms of the sale of a home that the hard part would be over. This is not always the case. Home inspections if not handled correctly can sometimes cause more anxiety than negotiating the price and terms of the home. Knowing a few simple guidelines will help in working through inspection issues.

Inspection Period aka Due Diligence Period

In Georgia, this period is usually called the Due Diligence Period. It is during this time, which is agreed to by both buyer and seller, that the buyer has the right at their own expense to inspect the property for defects. The most common types of inspections are Home Inspections, Termite Inspections, Radon Inspections, Septic System

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Getting Ahead Of Low Inventory

A couple of months ago in order to get ahead of the foreclosure market we decided that we were going to look for homes that were currently in foreclosure, and attend the foreclosure sale in Gwinnett County.  We hoped we could purchase a home at the auction and get ahead of the game. We spent the entire month looking at close to a hundred foreclosures in Gwinnett County, and ended up purchasing one at the foreclosure sale.

The home was actually occupied by a homeowner who lived there for quite some time, and had experienced some financial difficulties over the years. As a result he fell behind on his payments and also fell behind on maintenance that needed to be done.

Gaining Possession of an Occupied Auction

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After months of looking at homes in the Alpharetta and Johns Creek areas, our clients looked at a Fannie Mae foreclosure in Kimball Bridge Crossing off of Kimball Bridge Road in Alpharetta, and fell in love with the floor plan.  The problem was that it needed a lot of work.   

This Fannie Mae property had been under contract previously, but was terminated due to the buyer becoming aware of the amount of worked required after going under contract.  Once it returned to the market there were multiple offers received, and my client elected to make an offer above list price and was awarded a contract on the property.  

As we entered the Due Diligence period it became extremely important to estimate the cost of the improvements and the affect the

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With all of the foreclosures and great deals on the market having the right tools on hand when looking at a property can save you lots of time and money. By knowing the tools and by having them on hand, you will be able to properly evaluate a home on the first visit, resulting in being able to make an offer afterwards, without the assistance of an inspector or engineer, and without needing to return for a second or third visit prior to making an offer. This alone will allow you to make offers more quickly and will result in more deals going under contract.

The Basic Tools

A Flash Light
I can’t tell you the number of times would be buyers show up with a pin light on their key ring to look at property. A heavy duty flash will allow you to examine

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