Assessed Value- Assessed Value is the valuation placed on property by a public tax assessor for purposes of taxation.

Closing Costs [...]]]> Buying or selling a home can be complicated enough but add in the lingo and you may feel like you are listening to a foreign language. Here are a few real estate terms decoded.

Assessed Value- Assessed Value is the valuation placed on property by a public tax assessor for purposes of taxation.

Closing Costs –Closing costs are all of the miscellaneous expenses paid by the buyer and the seller when a real estate transaction closes. These costs can include real estate commission, mortgage fees, attorney fees, transfer taxes, recording fees, and title insurance.

CMA –CMA is short for comparative market analysis or competitive market analysis. A CMA compares the prices of homes sold, homes currently on the market and homes pending to a subject property. A CMA may be prepared for a buyer or a seller to determine market value. The CMA accounts for style, size, location and other factors that make the homes comparable.

Contingency – A contingency is a provision of an agreement that keeps the agreement from being fully legally binding until a certain condition is met. Common contingencies are a buyer’s contractual right to obtain a professional home inspection before purchasing the home or obtain mortgage financing.

Deed-The deed is the legal document conveying title to a property.

Earnest Money Deposit- The earnest money deposit is a deposit made by the potential home buyer to show that he or she is serious about buying the house. This is typically made at the time of the offer to purchase.

Lock Box – A lock box is a secure key-holding device. It is used to hold a key for a home that is for sale. This allows cooperating real estate professionals to gain entry into the home. Entry is usually granted after obtaining permission from the listing agent or office.

MLS – The MLS or Multiple Listing Service is an organization that collects, compiles and distributes information about homes listed for sale. Real Estate brokers are members of the MLS. Membership is not open to the general public. The MLS is used for real estate professionals to share information about homes for sale to other agents. MLS boards are local or regional. There is no nationwide MLS.

Short Sale- A short sale is when the seller arranges with their mortgage lender to accept a price that is less than the amount they owe on the property. The lender typically agrees to forgive the rest of the loan. A short sale arrangement is made between the seller and the mortgage lender.

Title Insurance – Title insurance is an insurance policy that protects the lender’s or owner’s interest in real property. Title insurance as it is named protects against claims against the title or from unexpected or fraudulent claims of ownership. Buyers typically pay for the lenders title insurance policy as part of the closing costs.

Today’s housing market makes it a great time to buy and in some cases you can buy a home for less money than you are paying in rent. Living in an [...]]]> Living in an apartment can sometimes be a frustrating experience. Paying rent every month makes you feel like you are throwing money away.

Today’s housing market makes it a great time to buy and in some cases you can buy a home for less money than you are paying in rent. Living in an apartment with tenants above or below you in some older apartments can be noisy. Single family homes do not have this problem, as none of the walls in your home will be attached to any other home in your neighborhood. This in turn means that you will have more privacy, and more importantly, there will be less noise coming from your neighbors, no matter what time of the day it is.

Another reason why owning your own home is so great is because you will generally have your own yard, allowing you to have outside furniture, gardens and entertain which can be harder to do in an apartment

When it comes to shopping for a home, it is important that you do a good amount of research beforehand. While single family homes do have a lot of advantages, you have to make sure to take your time and find that perfect home for you. Some things to think about is location, neighborhood, schools, and being close to amenities like shopping, restaurants or other places that may be important to you.

One of the best ways to research for homes is on this website. This website is updated every 15 minutes with new listings, price changes, back on markets and open houses. This will allow you to easily browse through homes for sale until you find the perfect home for your needs.

Bottom line is buying a home today can be a great invest down the road and can come with a lot of benefits over renting. Feel free to call if you would like help in buying or selling your real estate.

Here are some minor changes you can [...]]]> Greening up your home is not only good for the environment it is also good on your wallet. According to the National Institutes of Health, the U.S. generates about 208 million tons of municipal solid waste a year, that’s more than 4 pounds per person per day.

Here are some minor changes you can implement at home that will add up to real benefits.

Green up your appliances

Replace your old refrigerator and save as much as $150 a year. Appliances are the biggest drain on a home’s total energy bill. Replace appliances older than 10 years with energy-efficient models that bear the “Energy Star” logo. Energy Star-qualified appliances use 10%-50% less energy and water than standard models.

Take Your Temperature

Use a programmable thermostat to keep your home’s temperature on a schedule. Program the thermostat in cold weather and keep it higher in warm weather. Set the timer to only change the temperature when you are home. During the colder months, each degree below 68°F saves 3%-5%. You may also want to consider replacing older furnaces. Today’s furnaces are about 25% more efficient than they were in the 1980s.

Use Water Wisely

Save every time you flush by installing low-flow toilets. They use only 1.6 gallons per flush, compared to 3.5 gallons per flush for pre-1994 models. Save water at your faucets by installing aerators. This could cut your annual water consumption by 50%.

Let there be Light

Using Compact Fluorescent Light bulbs (CFLs) will consume 66% less energy. CFLs may cost a little more but they last 10 times longer than a standard incandescent bulb. In dollars and cents, replacing a 100-watt incandescent bulb with a 32-watt CFL can save $30 in energy costs over the life of the bulb.

Practice Plastic Placement

Did you know Americans throw away some 100 billion polyethylene plastic bags? — Plastics (grocery, trash and sandwich bags to name a few) are made from petroleum. Plastics are considered one of the main contributors to global warming. Always make sure to reduce, re-use and recycle your plastics.

There are many more ways to live green. If you are looking for more ideas check out National Geographic’s Green Guide.

Please share your tips for saving money, energy and living green.

Baking Soda

One cup mixed with a teaspoon of liquid soap, a bit of water, and a few drops of antibacterial essential oil (such as [...]]]> Looking to go green? Why not start in the kitchen? Here are some tips from Martha Stewart Living on how to get started with a green shopping list.

Baking Soda

One cup mixed with a teaspoon of liquid soap, a bit of water, and a few drops of antibacterial essential oil (such as tea tree, eucalyptus, rosemary, or peppermint) makes an effective cleanser for your bathroom.

Milk

Used in combination with white vinegar, it does wonders to remove ink stains on clothing. Simply soak the garment in a bowl milk or white vinegar.

Glass Bottles

To cut down on plastic bottle waste, buy liquid soap in bulk and decant into your favorite glass bottle. This will cut down on the number of plastic bottles you buy from the store each year.

Your Favorite Mints

When you finish off that last Altoid, save the container. It’s the right size for holding office supplies such as paper clips or stamps. 1. Trace the top of the tin onto leftover contact paper or cork sheets (found at crafts stores) and cut out the pattern. 2. Use glue to affix the cover to the tin. 3. Label the top to indicate what’s inside.

Fresh Vegetables

Eating vegetarian cuts down considerably on the effects of global warming. Why? Meat and dairy production creates more carbon emissions than all those cars and trucks on the road.

Bamboo Washcloths

Renewable bamboo isn’t just a substitute for wood. Fabric woven from its fibers is absorbent and naturally antibacterial, making it ideal for washcloths.

Herb Seeds

Start your own apothecary garden with plants such as lavender, mint, lemon balm, and thyme — and make remedies for stress, digestion, immunity, and more.

Recycled Office Supplies

With a growing selection of high-quality, green products available at reasonable prices, now is the time to bring your eco-values into the office, whether at home or at work.

Eco-Bulbs

Using a third of the energy required by their incandescent counterparts, compact fluorescent light bulbs (CFLs) do wonders for your budget and the environment.

Reusable Tote

You will usually find these for sale at grocery stores and other shopping centers. Find one you like and say goodbye to the endless stream of plastic bags.

Compost Pail

Keep an airtight container in your kitchen so you can make your own nutrient-rich soil — and not throw more waste into landfills.

According to Gallup, “Overall, there is good reason for most Americans to think now is a good time to buy a house. Interest rates remain near historic lows. Home prices are down sharply, providing [...]]]> Is it time to buy a home? According to a Gallup poll done on 1/17/2012, 67% of people polled say yes!

According to Gallup, “Overall, there is good reason for most Americans to think now is a good time to buy a house. Interest rates remain near historic lows. Home prices are down sharply, providing many incredible buys.”

According to the November 2001 National Housing Survey conducted by Fannie Mae, buyers cited their major reasons for buying a home. Here are the results:

• 80% Having a good place to raise children and provide a good education
• 79% Having a physical structure where you and your family feel safe
• 75% It allows you to have more space for your family
• 69% It gives you control over what you do with your living space 69

So despite what has been a negative sentiment towards the housing market, buyers and the general public still think that homeownership is the way to go.

The Benefits

•Solar power is predictable. It is easy to predict how much electricity your system will [...]]]> Everywhere you turn people are saying “go green”. More and more people are looking for alternatives to heat and power their homes. One alternative is solar energy. There are both benefits and pitfalls to solar energy.

The Benefits

•Solar power is predictable. It is easy to predict how much electricity your system will produce because the amount of sunlight that hits your roof doesn’t vary that much. This means it is also easy to predict how much you will save in electric bills.

•Solar power will lower your electric bill. Solar power will offset the usage of conventional electricity especially in places where the price for grid power is high — like California, Hawaii and much of the northeast.

•Solar power is safe and clean. Solar energy systems produce emissions-free electricity.

•Installing solar panels may also help you qualify for a tax credit. For more information on energy tax credits click here.

The Pitfalls

•Solar power can be predictable but it is also variable. In other words, it can be predicted on a long term basis but not on a daily or even weekly basis. For example, solar panels won’t produce electricity at night.

•Solar power can be a more expensive alternative in the short term. The price of solar panels continue to fall but there are many aggressive financing options. If your state has no tax incentives and electricity prices are relatively low solar would be an expensive option for you.

•Some homes just don’t work. The roof must be in good condition with an unobstructed southern exposure. If the house is surrounded by trees and tall buildings solar panels will probably not work. A ground-mounted system is an option only if you have sufficient space in your yard.