Must Have Mobile Apps for Home Buyers

There’s an app for nearly everything these days. The real estate market is no exception. Here are a few helpful apps for people searching for a home or those who may just be interested in the market and new technology:

App: Move Inc.’s Realtor.com Home-Search

Price: FREE

Realtor.com’s home-search app provides users with new listings, saved searches, and open house information, among many other things. It lets consumers rate and comment on listings for personal reference and share listings of interest.

App: Quick Mark

Price: FREE

Have you seen barcodes like this one all over lately?

These barcodes are everywhere including the real estate market right now. Once you download the app, you can take a picture of the barcode with your phone, and it will send you to a website. The Quick Mark barcode function is similar to clicking a link online.

App: Google Maps

Price: FREE

Google Maps comes standard on most Android phones, so you may already have it installed. The Google Maps app is especially helpful when you’re searching for a home or have lost your way while house hunting. It offers step-by-step driving directions as well as map views .

App: Zillow

Price: FREE

The well-known online real estate community’s app allows you to search for nearby homes for sale and get “Zestimates” using your phone’s GPS. You can also filter homes by bedrooms and bathrooms, save your searches, and view full size photos.

App: Suburb Scout

Price: $1.99

Suburb Scout is an app that searches for possible neighborhood nuisances like airports, sewage plants, nuclear plants, landfills, railroads, and prisons. If you’re searching for a new home, this can be a useful tool in helping you make your decision.

App: Where

Price: FREE

Where is an app that provides information on the surrounding amenities of a specific area. You can find anything from nearby news, dining, movies, events, gas prices, coupons for local businesses, and reviews. Conveniently explore the area around a home without even getting in your car.

App: Karl’s Mortgage Calculator

Price: FREE

This app is useful for determining how much your monthly house payment may be.

App: iHandy Carpenter

Price: $2.99

Do you need a plumb bob, surface level, bubble level bar, steel protractor, and/or ruler, but you don’t find yourself often carrying around a carpenter tool kit? Then this app is for you!

App: Evernote

Price: FREE

This app is great when you're out looking at homes. There are a lot of things you need to remember about each home you look at. Evernote allows you to take notes, pictures, or even use the voice recording function so you can have all your notes handy. You can then load the information from Evernote right to your computer of laptop.

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Troy Batson ~ Broker Duke Warner Realty 1033 NW Newport Ave Bend, Oregon 97701 541.678.3725 or 541.382.8262 troybatson@dukewarner.com troybatson.com

Will my Bend, Oregon home ever appreciate?

The bad news: It’s unlikely that we will ever see homes appreciate the way we did leading up to 2006.

The good news: It’s likely home prices will eventually rise, albeit modestly, and your home could appreciate.

So what do you look for in a home when buying to increase the chances of appreciation?

Location, location, location! It’s a real estate cliché, but it makes sense once an investor understands the impact of land value on appreciation.

The reason that land is an appreciating asset is because of supply and demand. Land is in limited supply, and no one is producing any more. The demand for land is constantly growing as the population increases. The reality is that the physical structure will likely depreciate over time. With regard to appreciation, homebuyers should look past the physical attributes of the home and focus how its location in the market will affect overall return.

Other considerations regarding the location of a home that is more likely to appreciate: Is the home in a more private and desirable cul-de-sac or on a more frequently used street? What is the condition of the neighborhood? What is the proximity to recreation such as golf courses, parks, and colleges?

• Buy during the winter. Often, many sellers who choose to sell during the wintertime are looking to sell quickly. Also, many homes listed for sale in the winter are generally not new homes and may consequently have price reductions. You will have less competition during the winter because most people don’t want to move during cold months. If you buy your home during a time when there is less competition, the chance of appreciation will increase.


• Be mindful of potential future development. Future development can change your property’s value for better or worse. Be mindful of the present state of local amenities as well as the future prospects for commercial and governmental development. The demand for real estate is affected by the availability of jobs, the availability of land, proximity to shopping, schools, parks, churches, population changes, desirability of an area, crime levels, zoning changes, etc.


• Consider cost-effective improvements. Certain improvements can increase the value of your home. However, other improvements, dollar for dollar, produce a low return. Plan carefully and make improvements that result in the highest level of appreciation for the money that you spend. If you make too many costly improvements, you will likely not recover those costs when you sell. Adding a garage door can get you a higher return on your investment than some other upgrades. A wood deck or a minor kitchen remodel can recoup a higher percentage of their costs than major remodeling projects such as adding a wing to your home. Remodeling your basement or adding an attic bedroom can also generally get you a high return.

When asking yourself, “Will my home appreciate?” it’s important to look beyond the physical attributes of the home and focus on the potential for land appreciation. When buying a home, concentrate on properties that provide opportunities for improvement to enhance the value of the land. If you are interested in tracking appreciation, visit the site of the Office of Federal Housing Enterprise Oversight (http://www.fhfa.gov/), which allows you to check the housing appreciation in your area.

Troy Batson ~ Broker

Duke Warner Realty

1033 NW Newport Ave Bend, Oregon 97701

541.678.3725 or 541.382.8262

troybatson@dukewarner.com

troybatson.com

Financial Wounds Heal with Planning, Discipline, Determination

Financial Wounds Heal with Planning, Discipline, Determination

"Discipline is the basic set of tools we require to solve life's problems. Without discipline we can solve nothing. With only some discipline we can solve only some problems, with total discipline we can solve all problems."-- M. Scott Peck, M.D., The Road Less Traveled

If you're like the majority of would-be homeowners today grappling with financial difficulties, take heart. The American Dream of owning a home is within your reach.

No matter how bad your financial situation is today, there are steps you can take to improve your ability to buy a home. According to the National Association of Realtors (NAR) 2009 Housing Opportunity Pulse Survey, down payment and closing costs are among the greatest obstacles to buying a home. Home prices are down and while it's a buyers' market, the current economic climate is tough right now. People are concerned about job security. High prices are taking huge bites out of tight budgets.

Fight the frustration with the best weapons of all, planning, discipline and determination.

In his book, The Road Less Traveled, M. Scott Peck, M.D. said, "Discipline is the basic set of tools we require to solve life's problems. Without discipline we can solve nothing. With only some discipline we can solve only some problems, with total discipline we can solve all problems."

The desire to own a home is only the first step. It's a good step, but it's one that requires careful consideration. How badly to you want to own a home? To what lengths will you go to achieve your dream? It's okay to brainstorm - dream even - about the home you will one day own. Dreaming is never enough. Action is required. There's no better time than right now to get started.

1. Write it down.

Get your dreams out of your head and onto a piece of paper. Ask yourself some tough questions and write down the answers. Here are some examples of questions you might ask. If you have a partner, include that partner in the conversation:

Why do I want to buy a home?

When can I realistically expect to be able to buy a home?

When will I buy a home?

What kind of a home will I buy?

Where will my new home be located?

What are the most important considerations in searching for my home?

How much should I expect to pay for a home?

How much money will I need to make a down payment on my home?

How much should I expect to pay for closing costs?

How long will I remain in my first home?

2. Examine obstacles.

This step requires total honesty. What is keeping you from achieving your dream? Systematically examine every obstacle. Evaluate reasons for the existence of each obstacle and identify multiple solutions.

3. Set goals.

Start from the end. Imagine where you will be in one year, two years or five years. Draw a road map if you have to and label the path you will take to get to where you want to be. Be sure to include the hurdles you will have to jump over and hoops you will have to jump through. There will be mountains to climb and rivers to cross. Now that you have identified the obstacles, you can deliberately eliminate them one at a time.

Some obstacles on your list might be:

• Overspending


• High debt-to-income ratio


• Poor credit score


• Lack of savings


• Not enough income

Some possible solutions on your list might be:

Overspending

Track spending for two weeks to see where money leaks occur in your budget. Create a strict budget. Separate wants from needs. Find ways to cut back such as packing a home lunch instead of eating out, carpooling to save gas, renting movies to watch at home instead of going to a theater.

High debt-to-income ratio

Make a list of creditors. List them in order based on the amount you owe each. Concentrate on paying off the smallest bills first. When one bill is paid, take the monthly amount of money you spent on that bill and apply it to the next. Make a commitment to avoid taking on any additional unnecessary debt.

Poor credit score

Now that you're accepting responsibility for your finances you can begin to improve your credit score today. Get a copy of your credit report. Federal law entitles you to one free credit report in a 12-month period from each major credit reporting agency. You can easily obtain your free report at http://www.annualcreditreport.com/. Dispute any errors. You can also call the three major nationwide consumer credit reporting companies for your free report:

• Equifax: 1-877-576-5734; http://www.equifax.com/


• Experian: 1-888-397-3742; www.experian.com/fraud


• TransUnion: 1-800-680-7289; http://www.transunion.com/

Do whatever you have to do to get in good standing with your creditors. Call them, negotiate with them, keep the promises you make to them. Show a sincere effort to rebuild your credit and you will find debtors are willing to help you achieve your goals. Pay your bills on time.

Lack of savings

Pay your bills, but pay yourself first. The loss of a job, illness, emergency repairs, travel and other unplanned expenses will throw your carefully-planned budget into chaos if you're not prepared. Identify a certain percentage of your income - start small if you have to - and put it away in an emergency fund. Eventually your emergency fund will grow and you will start a new savings account for your down payment!

Not enough income

If your expenses are higher than your income and you have shaved as many frills as possible from your spending, it may be time to take on a second job. Also, consider selling personal items you no longer need and are willing to part with in order to live your dream of owning a home. Look for higher-paying promotion opportunities at work.

4. Design your plan.

Your plan will include specific dates, goals and road markers on your map to success. Create a timeline and monitor it carefully. Review your plan each night before you go to bed. Identify milestones and celebrate when you reach those milestones. These can include paying off a bill, acquiring a certain amount of savings, reaching a goal income level and more.

5. Visualize yourself in your new home.

Can you see it? Can you feel the warmth of your new home around you? Can you actually imagine yourself living the American dream? Do it often. Close your eyes and feel the satisfaction of achieving your goal - a goal that once seemed impossible. Talk openly about the day you will move into your new house. Stay positive, focused and committed.

Troy Batson ~ Broker @ Duke Warner Realty 1033 NW Newport Ave Bend, Oregon 97701 541.678.3725 or 541.382.8262 troybatson@dukewarner.com troybatson.com

FHA Mistakes to Avoid

When buying your first home, there are many mistakes that can cost you thousands and hinder the process to get you into the home that is right for you.

One long-standing program that has assisted millions of first-time homebuyers is the FHA (Federal Housing Administration) mortgage program. An FHA loan is a loan the government agency insures against default. Approved lenders can issue these loans, which tend to be less restrictive to borrowers facing economic hardship.

Here are a few common mistakes to avoid when considering an FHA loan for your first home:

Failing to consider an FHA loan. If you are thinking of purchasing a new home, considering an FHA mortgage could be a vital step. The FHA program allows lenders to offer home loans to borrowers with limited or less-than-perfect credit histories. While FHA mortgages require that you pay a mortgage insurance premium, FHA mortgage rates could be lower than you would get otherwise.

Making a major credit purchase immediately prior to applying for a loan. Your debt-to-income ratio is a major determining factor in whether or not a lender will approve your loan application. Your debt-to-income calculation is based on your current debts and the percentage of that debt against your income. Major credit purchases will seriously alter that ratio sometimes enough to significantly hurt your chances for obtaining an FHA loan. You can also improve your debt-to-income ratio by paying off credit card balances or other outstanding loans.

Not reviewing your credit report. An FHA-loan approved lender will always look at your credit report and credit score. Your credit report gives the lender an idea of your debt, your ability to pay your bills on time, and your overall credit reliability. Before you apply for an FHA loan, review your credit report and score. It could contain errors that could affect your ability to purchase a home. Once you’ve carefully reviewed your credit report and are confident in your credit history and score, you should initiate the preapproval process.

Neglecting to save enough money upfront. While an FHA loan generally requires a lower down payment than other loan types, there are still upfront costs involved in an FHA mortgage. Ensure that you’ve budgeted carefully and saved enough for the necessary down payment. There are also fees and expenses due at closing for things such as mortgage processing, insurance, home inspection, and lawyers. Make sure you have a generous amount of savings above and beyond your down payment to cover any closing costs and upfront expenses.

FHA loans have helped countless homeowners in the past. An FHA mortgage may be a good fit for you as long as you avoid these common mistakes.

Troy Batson ~ Broker Duke Warner Realty 1033 NW Newport Ave Bend, Oregon 97701 541.678.3725 or 541.382.8262 troybatson@dukewarner.com troybatson.com