In spite of the warnings of the so called "experts" who say "think twice before buying a home in today’s market", we say "now may be the best time to buy a home"...particularly if you’re thinking about one of Franciscus’ new offerings at Bridgewater in Isle of Wight. Here’s why…..not only are these homes award winning designs for every lifestyle imaginable, but they’re priced in the low $200’s with qualifying incomes starting as low as $44,000 per year. And that’s not the best part.
The European Romantic styling of the Bridgewater Condominiums at Eagle Harbor in Isle of Wight is the talk of the town. Bridgewater is the newest community by Franciscus Homes offering spacious two and three bedroom designs with direct entry garages ranging in size from 1,370 to 1,980 square feet of living area at prices starting at $239,990.
Staging is when a homeowner presents a home they’re trying to sell in the most appealing way possible. Staging makes it easier to sell a home because buyers can see how they can use the space before they buy. Staging can yield a high return on a relatively low budget if you follow the advice of the experts. Start with the obvious:
• Fix creaks & cracks that you may have gotten use to over the years • Check the ceilings for dust & spider webs • Make sure everything in the house sparkles as if it’s brand new
Green up your appliances. Getting rid of that old refrigerator in the garage could save you as much as $150 a year, according to the Environmental Protection Agency. Appliance use comprises about 18% of a typical home’s total energy bill, with the fridge being one of the biggest energy hogs. If any of your appliances is more than 10 years old, the EPA suggests replacing them with energy-efficient models that bear their "Energy Star" logo. Energy Star-qualified appliances use 10%-50% less energy and water than standard models. According to the Energy Star site, if just one in 10 homes used energy-efficient appliances, it would be equivalent to planting 1.7 million new acres of trees.
Ever wondered what they mean by “Builder Pays $$$ of Buyer’s Closing Costs & Prepaids”? In today’s buyers market you’re seeing more and more seller ads with this phrase. So what does it mean? What are the real savings?
Closing costs are fees and taxes that are part of the settlement transaction when title to the property is transferred from the seller to the buyer. This transaction is referred to as the closing.
The Braemar Creek condominium community in Williamsburg recently opened the 3,500 square foot clubhouse and recreation center for the exclusive use of its residents. The center features a fully appointed kitchen, extensive exercise room, game area, residents lounge and a 60’swimming pool with private bath house. For two years running Braemar Creek has set the pace as one of the best selling new home communities in Hampton Roads. Surrounded on all sides by the fairways of the Williamsburg National Golf Course, the views are just spectacular!
If you’ve been thinking about buying a new home this year and still have not made your mind up…..don’t delay much longer. Supply and demand often helps dictate the price of a new home and the incentives that builders and sellers are willing to use to attract buyers.
In an effort to reduce the oversupply of homes built for the burgeoning demand for housing in ’05 and ’06, builders in their “irrational exuberance” to stay ahead of the curve produced an inordinate number of new home starts in late ’06 and ’07. This oversupply of new homes in all price ranges put significant downward pressure for pricing. Builders, faced with an abundance of unsold homes, were forced to create new and exciting incentives to achieve sales goals.
Money has been tight this year and you were a month late on a couple of credit card payments. But that won’t hurt your credit score, because you are paying on time now, even if it’s just the minimum. You got a raise at work, which boosts your score. And you don’t plan to apply for new credit anytime soon, so your score doesn’t matter.
None of the above about credit scores is true, but if you believe any of it, you have company. A survey recently released by the Consumer Federation of America shows Americans, continue to harbor numerous such misconceptions.
Just about everybody in this country pays taxes, but nearly 70% of Americans pay less tax just by owning a home. In addition to making an investment in homeownership and watching their equity appreciate year after year, homeowners get the additional benefit of paying lower taxes.
As a homeowner you can deduct mortgage interest and property taxes when you file your yearly Income Tax Return and itemize those deductions. For example, if you purchase a Franciscus home for $250,000 with a 30-year mortgage at 6.25% interest and your real estate taxes are approximately $2,500 per year, your itemized deductions would be $15,625 for interest, plus the $2,500 for real estate taxes.
Q. Explain the concept of leveraging in real estate investments.
A. Leveraging means being able to make a relatively small investment to purchase a more valuable asset that can appreciate at a higher multiple than the invested cash. For example, say you make a $10,000 cash investment to purchase a $250,000 home and the house appreciates 5% during the first year….that means after one year the home would be worth $262,500 – a gain on the asset of $12,500. Your annual return on your $10,000 investment would be a whopping 125% for one year. By contrast putting the same amount of $10,000 cash in the stock market and posting a similar 5% gain would only net a $500 return on the same investment.
10 Reasons Why A New Home Is Better Than A Used One
1. Instant Equity - In many cases and at various times builders like Franciscus Homes will pay the closing cost & prepaids. This gives the buyer instant equity of approximately $3.5% to 5% of the sales price of the home. On a $250,000 home that could be as much as $12,500 more home you could buy if it’s included.
2. Homeowner’s Warranty - Most builders include some kind of ten year warranty with the home. Not to mention instant attention to move in blemishes that makes for a more enjoyable home buying experience.
Charthouse at Eagle Harbor: Move-In Ready From $309,990
Charthouse is a unique single family neighborhood of 59 homes located in the award winning master planned community of Eagle Harbor in Isle of Wight. As Franciscus Homes prepares to break ground on the final phase, smart shoppers can take advantage of special “move-in ready pricing” on several of the most popular models.
Located off Taylor Road in the Western Branch section of Chesapeake, One Ford Place is truly in the heart of everything! This uniquely designed condominium neighborhood was created by Franciscus Homes especially for residents 55 years of age and older. These two and three bedroom designs are offered in five different floor plans ranging in size from 1,180 to 1,925 square feet of living area and at prices starting at $239,990.
Staging is when a homeowner presents a home they’re trying to sell in the most appealing way possible. Staging makes it easier to sell a home because buyers can see how they can use the space before they buy. Staging can yield a high return on a relatively low budget if you follow the advice of the experts. Start with the obvious:
Ever wondered what they mean by “Builder Pays $$$ of Buyer’s Closing Costs & Prepaids”? In today’s buyers market you’re seeing more and more seller ads with this phrase. So what does it mean? What are the real savings?
If you’ve been thinking about buying a new home this year and still have not made your mind up…..don’t delay much longer. Supply and demand often helps dictate the price of a new home and the incentives that builders and sellers are willing to use to attract buyers.
Money has been tight this year and you were a month late on a couple of credit card payments. But that won’t hurt your credit score, because you are paying on time now, even if it’s just the minimum. You got a raise at work, which boosts your score. And you don’t plan to apply for new credit anytime soon, so your score doesn’t matter.
Q. Explain the concept of leveraging in real estate investments. 
1. Instant Equity - In many cases and at various times builders like Franciscus Homes will pay the closing cost & prepaids. This gives the buyer instant equity of approximately $3.5% to 5% of the sales price of the home. On a $250,000 home that could be as much as $12,500 more home you could buy if it’s included.