The decision to employ a contractor for a home improvement job, room addition, or home repair might not always be an easy one to make. Sometimes, however, it is absolutely necessary to call a professional to handle a job you are unable to do yourself. If you are ready to renovate a bathroom or remodel a kitchen, you want the best person for the job, quality worksmanship at a reasonable priced. Nobody wants to be scammed out of good money for a poor job, but unfortunately it does happen.
Oftentimes, older people are preyed upon in home improvement scams. Taking advantage of a senior citizen’s tight budget, a scam artist may try to double-talk a homeowner into expensive, unneeded repairs, then take the money and run. If any work is done on the home, more than likely it isn’t enough to justify the payment, and also the work may be shoddy and leave the house in worse condition than it was. Such scams are not always perpetrated on older homeowners, however. Therefore, it is important to know what signs to look for so you don’t become ensnared in a fraudulent remodeling job.
What to Look For in a Home Improvement Scam
One possible sign of a con-artist contractor is the approach. If a contractor approaches you for home improvement work unbidden, be warned, especially if he or she is aggressive. Don’t let anyone talk you into repairs or additions you feel your home doesn’t need, and do not allow anyone to come off the street into your home for a “free estimate.” This could actually be a way for somebody to case your home for a future robbery. Even if this person claims to have done work in your area you will want to be on guard. Many contractors find work through customer referrals, so if you are in need of home repairs it is best to get referrals from trusted sources like friends and family.
Be mindful, too, of contracts and payment. If a contractor wants cash up front, or is reluctant to agree to certain terms on a contract, that is usually a red flag. If financing is needed and a contractor insists upon your using his or her referral, that could be another sign. It is not uncommon for unscrupulous contractors to receive kickbacks from creditors they bring into a job. If you need financing, go through your own bank or resource.
Does your contractor have a physical address and phone number, or work primarily through a PO box? This could be another sign of dubious intent. You want to be certain the contractor you choose can easily be found, and is properly licensed and insured. You may wish to avoid anyone who refuses to provide such information.
Be aware of anyone and everyone you approach with a possible home improvement job. Take care to explore recommendations of people you trust and examples of work by potential contractors, and know your legalese before committing a signature to any contract. This is the best way to ensure a job well done without any problems.
If you plan to engage in home improvement to prepare to sell your Virginia Beach home, take heed of suspicious activities and behaviors as you scout contractors.
Kathryn Lively is a freelance writer specializing in articles on Norfolk real estate.
A trip through the housing market leaves some house hunters wondering if they’ve arrived in a bygone world via time machine.
They set down in a land where stretches of green cut-pile fibers carpet the hills of architectural step-ups and step-down that whisper, “Feelin’ groovy,” while fields of paper flowers climb walls. The sun’s rays fade under heavily clad windows, and every color and fixture tells a story – one that prospective buyers have likely already heard, and possibly already lived.
It takes stepping back into “modern life” of any era to truly appreciate its quirky offerings and haphazard trajectory. Even the request of a client to “Beam me up” can’t shake most seasoned real estate agents, who say they’ve heard and seen it all.
Sometimes navigating the time-space jump takes a little engineering on the sellers’ part; sometimes, vision from the buyer, agents say. In the end, the right price is a sure sign of return to Earth.
Read more from Nora Firestone and the Virginian-Pilot.
WASHINGTON — Nearly one in three borrowers who applied for a mortgage last year was denied as lenders kept their standards tight as the mortgage crisis accelerated, the government reported Wednesday.
In its annual look at mortgage practices among lending institutions, Federal Reserve said the denial rate for all home loans was about 32 percent last year — about the same as in 2007, but up from 29 percent in 2006. The denial rates for blacks and Hispanics were more than twice as high as the rate for white borrowers.
The report highlights massive changes in the lending industry after the housing market bust. Overall loan applications were down by a third from a year earlier, and were half the level in 2006.
Loans backed by the Federal Housing Administration soared to 21 percent of all loans made last year from less than 5 percent in both 2005 and 2006.
Read more from The Associated Press.
WASHINGTON – After a staggering 74 percent decline from the peak in July 2005, new U.S. home sales appear to be bottoming out.
The pace of home sales, which hit a record-low in January, jumped in February and was flat in March, the Commerce Department said Friday. At the same time, the inventory of new homes for sale dropped a badly needed 5 percent from February levels.
“We believe that the bottom is at hand and that sales will begin turning in the second half of this year,” wrote IHS Global Insight economist Patrick Newport. “As previous recessions show, demand for new homes does not evaporate altogether, even in the hardest of times.”
Click here to read the entire article.
Just like that cute little puppy wagging its tiny tail in the window of the pet store you always wanted as a kid, first impressions are extremely important when it comes to selling your house, especially in today’s volatile market. With many people scrambling to sell their homes, if yours doesn’t catch the buyer’s attention in the first few moments he or she sees it, it is likely they are going to move on. To make sure the first impression isn’t the last impression for your potential buyers, consider some simple ideas to spruce up your homes curb appeal.
Since most sellers are aiming to make money in the real estate business, it is important that whatever you do to attract buyers to your abode doesn’t put you too far in the red before you eventually close the deal. Even with a home that is meant to be a buy-to-fix, it is important to do some basic exterior maintenance in order to attract the largest variety of buyers possible.
Cleaning up the yard by removing unnecessary items (like your pink flamingos), weeding the garden, keeping the grass cut, trimming and edging along the sidewalk, and putting in some extra mulch or potting soil in the garden are relatively cheap and time efficient things you can do to improve the look of your home from the street. If you have flower boxes in the windows or potted plants, make sure they are bright, vibrant, and well groomed or remove them because dead flowers outside means an ugly inside in the buyer’s mind.
Rent a power washer to remove some soot from your siding, walkways, and any fencing surrounding your house. If you have extra paint, it may be a good idea to touch up any tired spots on the house or fence. Repainting the entire house is usually a great opportunity to improve the appeal, but it could be expensive or time-consuming, so consider your budget restraints before committing to this.
With an attractive outside and the right real estate company, such as Nancy Chandler Associates, licensed in Norfolk, Virginia, your house will have home buyers coming off the curb and inside to sign the deal in no time.
A real estate appraisal helps to establish your property’s market value. The appraisal determines the likely sales price the property will bring if it is offered in a competitive real estate market. Your lender will require an appraisal if you are seeking a loan in which the property will be held as security. The lending agency will want to make certain the property will sell for at least the amount of the loan.
If you are selling your home or refinancing your home, you will have to get an appraisal. In both instances, you want the highest appraisal possible to ensure the sale goes through. Every dollar at which the property is appraised is potential money in your pocket
You can not fool an appraiser because they know every trick that people have tried in the past. They have gone to school, they have gotten licensed and they know their job. Trying to fool an appraiser will likely give the appraiser the wrong impression and hurt you rather than helping you. Here are a few suggestions of things you can do to possibly get the highest appraisal possible.
Make your home presentable. While your home doesn’t have to be spotless as it should be when you are scheduling showings, having dirty laundry strewn about, dirty dishes in the sink and full trash cans can give the appraiser a bad impression. Appraisers are human and negative impressions may impact their decisions.
Do any necessary repairs. Before the appraisal, fix any broken windows, railings, steps, holes in the yard, and holes in the walls. You will have to have these repaired before you can sell your home anyway, even if the buyer doesn’t care. Your lender will care and insist the repairs are completed before they will approve the loan. Go ahead and get it done ahead of time.
Have you made any improvements? Did you put in new hardwood floors five years ago? Remodeled the kitchen two years ago? Reseed the lawn last spring? The appraiser will not raise the appraisal to match what you invested in your improvements, but do not be shy about pointing them out to him or her.
The fewer distractions the appraiser has, the better the process will go. Control the children and the pets during the inspection. If he or she is worried about being bitten by a dog or is distracted by screaming children, it may not go as well for you. An appraiser who is constantly distracted isn’t as likely to come through with the highest possible appraisal.
Don’t do the appraiser’s job for him or her. People may tell you to suggest homes that have sold in your area that the appraiser can compare yours to. The appraiser will do that anyway. It is a part of the job. The reality is, if you make suggestions, the appraiser is likely to become irritated rather than being grateful for the information. And he or she would be right to be resentful. The appraiser knows you want the highest possible appraisal and will work toward that.
Be very cooperative. Many people don’t like strangers wandering around their home, sizing it up. Remember it is in your best interest to tolerate the intrusion. A friendly person makes a much better impression than a person who is put-out and contentious.
It is normal to feel worried or apprehensive when it is time to order the appraisal, but if you have done what you should have ahead of time and you have talked to your Realtor, such as the folks at Nancy Chandler Associates, REALTORS, Licensed in Norfolk, Virginia, then there is nothing to worry about. Your Realtor can give you all the advice you need about what to do and what to expect during an appraisal.
When selecting your perfect real estate agent, there are many factors to consider. Are they experienced? Do they have my best interest in mind? Those are just a couple of questions to ask your self when selecting your dream agent.
There is more to selecting a real estate agent than just viewing his or her track record. You want to ensure that you two mesh well together as well, as selling or buying a house can take an indeterminable amount of time. You want to make sure that you can speak openly with him about your wants and needs as a buyer or seller. Here are a couple of attributes of a perfect real estate agent beyond being licensed.
Real estate agents are expected to be personable; it’s a part of their job. If you find yourself growing anxious over calling your agent because he is abrasive toward you, you probably don’t want to work with him. The process of selling or buying a home can take up to a month, if not longer, so you want to ensure that you can communicate often with your agent. See if you can view any testimonials of his previous service. Most clients will say whether or not the agent was friendly and/or easy to work with.
Experience is beyond just acquiring a real estate license. Getting a real estate license is fairly simple after completing the required education which only takes a few months. Check his track record and see how many transactions he has completed. Feel free to inquire as to whether or not they furthered his education in the field. The more experience the better. A more experienced agent may provide a quicker sale or a better deal on a home.
|
|
