Dan Zarate

Single Story For Sale in Fernwood Shores

Dan Zarate — Tue, 02 Feb 2010 21:26:00 GMT

• 1,958 sq. ft., 2 bath, 4 bdrm single story "Ranch" - MLS® $260,000

Fernwood Shores, Chesapeake - Home is where the heart is! Make a home for your family in this 4-bedroom/2-bath brick home in the historical district Chesapeake. Play the piano in this intimate living room with carpeting, traditional dining room with great chandelier, restful family room with wood-burning fireplace, master suite with linen closet, step-saver kitchen with laminate countertops, dishwasher, gas range, inside laundry, den, exterior lighting.

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Single Story For Sale in Pinehurst

Dan Zarate — Thu, 15 Oct 2009 14:16:00 GMT

Corner lot Ranch

• 1,450 sq. ft., 1 bath, 3 bdrm single story "Ranch" - MLS® $199,900

Pinehurst, Portsmouth - Affordable place to start! Ownership is possible with this 3-bedroom/1.5-bath brick home only a 10-minute drive to military base, shopping center, schools. You'll enjoy a master suite with linen closet, casual living room with wood floors, wood-burning fireplace for cold days, traditional dining room, family-friendly kitchen with laminate countertops, double sinks, electric range, security system, over-sized yard, 1-car garage, a manicured lawn, shingle roof, fenced yard.

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Open House in Little Neck on Sunday

Dan Zarate — Mon, 05 Oct 2009 08:31:00 GMT

Little Neck, Virginia Beach - We invite everyone to visit our open house at 3113 Watersedge Court on October 11 from 10:00 AM to 1:00 PM.

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Open House in Little Neck on Sunday

Dan Zarate — Wed, 02 Sep 2009 09:45:00 GMT

Little Neck, Virginia Beach - We invite everyone to visit our open house at 3113 Watersedge Court on September 20 from 10:00 AM to 12:00 PM.

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2 Story Brick Home For Sale in Little Neck Subdivision

Dan Zarate — Thu, 20 Aug 2009 10:04:00 GMT

• 3,900 sq. ft., 3 bath, 5 bdrm 2 story "Transitional" - MLS® $855,000

Little Neck, Virginia Beach - Oooh, baby! Ignite some sparks with the whirlpool tub in this well-maintained 3900-SF transitional brick home located in a cul-de-sac at Little Cove. You'll enjoy 5 bedroom, 3 full bathrooms, master suite with sitting room, his-and-her cloets, dual sinks, tile flooring in the bathrooms, intimate living room, an inviting family room with fireplace, tune in from your recliner in the room over the garage (FROG) with built-in sound system to watch movies listen to music, a designer kitchen with gas range, wine rack, microwave, double sinks, double ovens, pantry, work island, diswasher, refrigerator, grantie, countertops, over-sized garage for your vehicles, 2-zone centralize cooling system, parking space for your boat in the oversized driveway space, walk-in attic, a steak out area on the deck, matured plants, lawn and great landscaping,

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Buying Direct from the Builder

Dan Zarate — Wed, 17 Jun 2009 11:41:00 GMT

It always seems simple to walk into a model home and deal directly with the builder but that’s not the best idea. More people are taken advantage of when alone than with a real estate agent. All the paperwork you’re required to sign, disclosures, clauses and most important releases.

When you sign a release you practically give up your rights; it could mean forfeiting your right to keep your deposit or setting the settlement date in stone for you but a contingency for the builder.

Every page you initial could be detrimental in the end if you are not represented professionally. Sure, there are laws and guidelines that say you are protected from predatory requirements – RESPA Laws – however if you don’t know how to apply those guidelines to your transaction how do you know if you’re being taken for thousands of dollars?

Many homebuilders offer incentives as a way to entice you to purchase their home however those incentives often mean you must use their in-house lenders and their title escrow companies; this is far from the truth because you can use whatever lender or title escrow company you choose and in the end, the builder cannot tie the incentives to a specific lender.

Are your discounts really discounts or are they embedded somewhere in your sales package? Often a builder will show you all the discounts and incentives they’re providing to you but the loan package is packed with excessive and useless fees that make up for all those discounts they’re giving you. This is why you need a realtor to accompany you for any real estate transaction. It may seem like a simple decision to walk into a model home and deal with the salesperson but it could cost you thousands of dollars.

That salesperson works solely for the builder and I bet you’ll sign an acknowledgement of this statement. They must disclose certain items to you but again they work solely for the builder and without professional representation you are on your own to learn the ropes.

For any real estate transaction take advantage of all the knowledge a real estate agent or broker has to offer. You’ll avoid many of the traps home builders have waiting for you.

The 2009 First Time Home Buyer Incentive

Dan Zarate — Thu, 21 May 2009 13:57:00 GMT

The IRS classifies the first time homebuyer as someone who has not owned a primary residence for 3 years. With that said if you’ve owned a home before but you’ve been renting for the past three years or perhaps living in your vacation home then you qualify for the 2009 tax incentive.

First time homebuyers purchasing owner-occupied homes between Jan. 01, 2009 and December 01, 2009 are eligible for a tax credit of $8,000.

The new tax credit provides you with a real tax reduction, rather than a decrease in your tax liability. Therefore, the $8,000 is not being subtracted from your income before taxes; instead, the tax credit is deducted from your taxes due. For example, if you were to owe $15,000 in income taxes and you qualify for the $8,000 tax credit, you would only owe $7,000 in income taxes.

Additionally, the first time homebuyers tax credit is refundable. If you have very little tax liability this year you can receive a check for the tax credit. For example, if you owe $5,000 in income taxes, the $8,000 tax credit will be applied to the amount you owe and you will collect a tax refund for the remaining $3,000. Not to mention if you’re owed a tax refund anyway; you’ll receive $8,000. on top of whatever Uncle Sam owes you!

The first time homebuyer tax credit is only relevant to homes that will serve as a principle residence. Single-family homes, townhouses and condominiums and manufactured homes and houseboats that will be used for your principle residence qualify. The only clause is that buyers taking advantage of this tax credit must remain in their new homes for three years. Sell your home before the three years is up and you’ll be required to repay the credit.

Other guidelines that preclude some individuals from qualifying include phasing out this incentive for couples with incomes above $150,000 and single tax filers with incomes above $75,000.

Price Reduced on 92 Oregon Avenue in Oregon Acres

Dan Zarate — Mon, 06 Apr 2009 17:42:00 GMT

Oregon Acres, Portsmouth - Announcing a price reduction on 92 Oregon Avenue, a 1,450 sq. ft., 1 bath, 4 bdrm 2 story "Cape Cod". Now MLS® $173,800 - Price reduced in 6 days!. This is a steal, will not last long in the market!

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For Sale By Owner (FSBO)

Dan Zarate — Mon, 23 Mar 2009 13:48:00 GMT

When you chose to sell your home without a real estate agent, most likely it’s to save money. Research has shown that selling a home privately can save as much as $9000 during the home selling process. Don’t be swayed by the money savings alone. A qualified real estate agent costs money because they have experience in the market. They are more likely help you pick a correct selling price, market your home for a quick sale, offer you valuable advice that will help you show your home to potential homeowners, and has an established network of people who are buying and selling homes everyday.

Selling a home privately will affect your marketing process. Without listing your home with an agent makes it harder to access your home by other real estate agents looking for a home to show their clients. You might need to figure out ways of finding buyers without this service. You can hold open houses or put advertisements in local newspapers or on the internet.

There are other disadvantages to selling your home privately, that you will need to plan for. When a buyer sees that a house is being sold privately, they will often offer a lower price, because they know you’re saving money by not hiring an agent.

On the other hand, it is understandable that some people would like to sell their home on their own. Selling your home privately means being in total control of the transaction. You know that you will always be available for questions or home showings. Whenever you make a mistake, it’s yours and only yours to blame.

Also, remember, you’ll be competing with professional agents and their clients’ houses – make sure your house stands out! Make sure that you get maximum exposure in all places possible to market your home in your community.

You also need to get educated in the legal requirements of selling a home and designing a contract, so get help from an attorney and start researching long before your selling date.

When planning to sell your home on your own, make sure that you have the time and resources to make the process successful. However it can also be time consuming. If time and knowledge are no problem, then I am sure that you will have no problem putting the money saved to use.

Preparing For An Open House

Dan Zarate — Sun, 15 Mar 2009 13:17:00 GMT

An open house can be beneficial for both the buyer and the seller. For the buyer, it is an opportunity to view the home casually to determine if it meets their needs and criteria. For sellers, it is an opportunity to reach a larger number of potential buyers in a shorter period of time. Here are some few tips to ensure your open house is successful.

Take time before the open house to make sure the exterior of the home is appealing. Curb appeal, as it is known, sets the stage for the visit. Mow the grass, trim the bushes and sweep the front porch. You should also consider planting colorful flowers or placing potted plants near the homes entrance.

Inside, the first impression is the last impression, so keeping the house very neat and clean for the open house is extremely important.

How does your home smell? Will the bleach you used to clean the bathroom overwhelm the buyer when they enter the room? The fact is, studies have shown that the senses, including smell, can heavily influence one’s opinion. Use scented candles or a small simmering pot of potpourri with cinnamon to create the effect of “home.” Baking cookies is another option. They smell and taste good!

Continue to set the stage. Whether or not you did, be sure to evaluate how your furniture and furnishings are displayed. You want to appeal to the broadest range of buyers as possible. Ask your real estate agent for advice.

Whether you or your agent are conducting the open house, give buyers the opportunity to view the home without hovering over them. When they first come in, ask them to sign the open house sheet and give them a flyer with the property details and information. Let them know you are available if they have questions and invite them to go through the home. Before they leave, ask if they have any questions and thank them for stopping by. Following up afterwards by phone will help solicit feedback and offers.

Open houses are one of many tools that you and your real estate agent can use as part of a comprehensive marketing plan. Take the time to prepare for these so that you can maximize the opportunity to showcase your home.

5 Don'ts Before Buying A Home

Dan Zarate — Mon, 09 Mar 2009 21:54:00 GMT

Just because you’re buying a home doesn’t mean that life has to stop, or does it? Here are some suggestions you should avoid doing before buying a home.

Purchase a Car. Purchasing the car before buying a home will have an effect on what the mortgage lender determines you can afford for a home. Since a car is such a big-ticket item, it can greatly raise your debt-to-income ratio, which lenders use to determine how much of a mortgage you can afford.

Move Money Between Accounts and Change Banks. When the lender does the work to determine your eligibility for a loan, they will request statements from all of your accounts that contain liquid assets. The lender will request the documentation for these. Unless you want to keep up with all this paperwork, it’s much easier to leave the money where it is and stay with your current bank until after you have completed buying a home.

Become Self-Employed or change jobs if you are employed part-time. Either of these could have a negative affect on your mortgage approval. In most cases, lenders want to see at least two years of self-employment before they will approve you for a loan. Wait until after buying a home to become self-employed.

Apply For a Credit Card. Even though the inquiry won’t hurt your credit too badly if you already have a good credit score, the additional credit card will cause the lender to question your financial stability for buying a home.

Make a Large Purchase. Resist the urge to purchase new furniture set until after you have obtained the mortgage.

In summary, when you are buying a home, it is best to stay away from anything that will make it look as though you don’t have your finances under control.

Should You Buy Or Rent?

Dan Zarate — Thu, 26 Feb 2009 15:10:00 GMT

It is not easy to decide to go from renting to buying a home, but it is a decision that most face at some point. Before you make your own decision, consider the advantages and disadvantages of each option.

Buying and renting each make sense under a variety of circumstances, although in most cases it makes more financial sense to purchase a property. However, there are a few exceptions when renting instead of buying makes more sense.

The first of these is when you have credit challenges. For example, if your FICO score is less than 600, you may not be able to obtain a low interest rate on your mortgage loan. While you still may be approved to purchase a home, your monthly payment might be higher than renting and if you took some time to focus on improving it prior to buying a home, you would be in a stronger financial position. So, in this instance, it makes more sense to rent and improve your credit prior to purchasing a property.

There are some upsides to renting; for example, you don’t have to worry about property maintenance as this responsibility lies with the landlord. Also, renting offers ease in relocation as you don’t have to wait for a property to sell, only the expiration of your current lease.

But, one of the most significant downsides to renting is that you will not be building any equity in your current property. Your monthly payment will be going towards building equity for someone else.

When buying a home, it is important to take into consideration any and all associated costs. It is not only the mortgage payment, but also you need to take into consideration homeowner’s insurance, property taxes, maintenance costs, utilities, and other miscellaneous expenses into account.

But, despite the challenges of home ownership, you are still building equity that you may be able to access if you move in the future. Or, when you complete your final mortgage payment, you will own a piece of real estate.

Take into account the pros and cons which option is more suitable for your lifestyle and your financial needs.

Selling Your Home In A Slow Market

Dan Zarate — Thu, 19 Feb 2009 18:10:00 GMT

Due to the recent slow down in the real estate market within the US, home sellers will need to evaluate their overall real estate mindset. In order to sell your home successfully, you may need to take a different approach. Sellers are now faced with a sluggish real estate market, requiring changes to be made in order to sell properties.

If you are a seller in this slow market, putting a For Sale sign up isn’t good enough to sell your property. You will need to make your house stand out amongst the hundreds on the market, otherwise you may be faced with a home that sits for months on end on the market without offers, or with offers that are far below what you expected.

If you have listed your home and having problems selling it, evaluate what options you could leverage to improve the opportunity for a sale. Selling a property is about setting the right price, forming the right attitude, and about adding that wow factor to your home for potential buyers. This goes beyond cleaning and de-cluttering; you want a buyer to say, “I want this house.”

First impressions count! How does your home compare with the others in your neighborhood? Consider touching up paintwork, cutting the grass, clipping the hedges, and making minor repairs to improve your chances of a sale. Now your home looks great on the outside, why not consider hiring a professional stager to dress you home? Stagers have the dexterity of a top-level designer, and can dramatically change the feel of your home. And, it has been proven than hiring a stager cannot only improve the price you receive on your home, but it can reduce the duration that your home is for sale.

Once you have tried these measures, wait and see what kind of results you obtain. If the home is still not selling, consider recalculating the price of your home. Having the right attitude along with implementing the right approach will help you sell your home!

The Importance of Home Inspections

Dan Zarate — Fri, 13 Feb 2009 14:56:00 GMT

There are many qualified and talented home inspectors, who have the ability to offer comprehensive and accurate home inspections, but some home owners do not take advantage of their service. Part of the reason for this is that they do not see the inherent value in having a home inspected. This is somewhat understandable as most people are not familiar with the positives associated with a home inspection and this is why the benefits need to be pointed out.

When a home inspection is performed the flaws that may be present in the home can be brought to the attention of the homeowner with the notion that the homeowner will now take appropriate steps to correct the flaws. Of course, this is not done merely for cosmetic reasons as isolating problem areas in the home and then fixing those problems will inherently increase the value of a home. After all, if it is suggested that the home have new siding put on it, the new siding will make the home far more marketable than it would have been without the siding. As such, the sale value of the home will increase and, hopefully, it will increase dramatically.

The purpose of a home inspection is not merely to satiate curiosity (although there is nothing wrong with that), but to maintain the maximum value of the home. Real estate is, of course, equity and it is always better to maximize that equity than see it decrease due to benign neglect of oversight.