Smart home automation systems are great for monitoring energy usage or basic security, or even turning off lights and heating or air conditioning when you’re away. However, part of the appeal of home automation should be integrating your normal home systems into easy-to-use control screens or apps for your smartphone and tablet. Being able to control your home entertainment systems, your outdoor speakers, the lights in the living room or dining room, the intercom, or anything else from a touch screen controller or an app just has the feel of the century. XXI. . We may not have flying cars, but we can stream movies to multiple devices!

This gets a bit trickier since ultimately you want a control system that monitors everything from your home security to your entertainment system to appliances. There are several companies that make smart home controllers and integrated home automation systems that should be able to be installed with a little more advanced knowledge. Crestron makes some great controllers that can be networked with your home entertainment and lighting control systems with minimal effort. The only downside is that you’re pretty much stuck with Crestron products for all your home automation to integrate all your systems as easily as you want. The upside, though, is that they have apps for your smartphones and tablets, as well as wall units and home remotes.

Insteon makes a home entertainment unit/lighting package that will take care of your private home theater quite nicely. It replaces various light switches and lamp sockets, as well as providing an integrated IR (infrared) controller that can be programmed as a universal remote for all your home theater systems. It’s a cheaper, easier way to start integrating home entertainment without the higher investment costs of flashy displays and complete systems that Crestron offers.

Lutron probably offers the most comprehensive home automation systems. They have very specific products that will allow you to integrate lighting, home theater, home energy efficiency, window shades, occupancy sensors, and home security integration. Its systems let you integrate with third-party devices, as well as purchase Lutron-developed components and items for your home, your car, and every room in the house. Occupancy sensors, outdoor lighting, home entertainment, and temperature control/energy monitoring give you everything you need to create the most advanced home you can dream of. All of your systems work together, allowing you to use a tablet or smartphone app or connect to your repeaters via IP (Internet Standard Protocols).

As you can see, home automation and the future of Smart Home technology is not just a fad or a passing fad. These systems are readily available and offer easy integration into your home if you are willing to invest the time and money to develop them. Whole-house package solutions are also possible as long as you don’t mind the cost or preparation involved.

If you are in the process of building your own home of course this is much easier to manage, just make sure your electrical or general contractor pulls the wires where you want them to go in the house and make sure your breakers light and wall are from a system that you want to integrate in the future.

I was young and inexperienced, but I was convinced that I was unstoppable. He had a lot of energy and motivation. The house was in Arvada, a northwestern suburb of Denver, and I bought it for an incredible price. It was part of a package with another house that he planned to keep as a rental. This one didn’t have great rental numbers, but it looked fantastic as a flip, so I bought both houses. I started the rehab on both properties, with a focus on the planned rental; that would be a much easier and faster rehabilitation. That house turned out well. I rehabbed it, rented it and refinanced it. Because I used a hard money loan, I had no money and was producing positive cash flow within six weeks. The Arvada house was a different story. That one also ended up in my rental portfolio, but it was far from planned.

It was after I was done with the first project that I started noticing the shady work in Arvada. There was illegal work everywhere. There was a small addition that was falling out of the house, material used to build that did not belong, leaks that were plugged, and faulty wiring. The budget was spent before it even started, and it did not have the reserves to cover the extreme amount of surplus. I didn’t know what to do, so I went cheap. I did a lipstick job, put the house on the market and crossed my fingers.

I lowered the price and then lowered it again. It got to the point where I couldn’t pay off my loan and pay a real estate agent, so I decided to keep it. To do that, I had to pay off my hard money lender, which means I had to refinance the loan.

This painful experience taught me many important lessons; don’t skimp on finishes, what to look for in a budget, and the pitfalls of refinancing. Lending has changed since then, so I contacted Joe Massey at Castle and Cooke, our preferred lender in Colorado, for help with the issues investors face today when trying to refinance their investment. Here is the list of cheats we discussed:

Worth: It is almost impossible to get an appraisal higher than the last list price. In my case, I kept lowering the price, to the point that it was listed below what it could have been priced for. When I went for the refinance, the appraisal hit the last list price and I was forced to bring cash at closing to seal the deal. Refinance appraisals are based solely on comparable sales (comps) in the area, as there is no other market indication for the appraiser to reference. Additionally, low-quality rehabs are difficult for an appraiser to value, so it is common for low-quality rehabs to have no impact on the appraised value. However, low-quality rehabs have a huge impact on real value. Once there’s exposure to the MLS, which means everyone looking for a home can see it, the appraiser has real market information that they can use to get a more accurate value. Think about it, how can the appraiser justify a higher value than what is listed on the MLS? You better count on the value to hit the lowest list price, or even below.

Another hurdle with MLS exposure is time. This isn’t a huge problem for most, but it’s worth mentioning. The property must be off the MLS for at least one day before you can apply for the loan. Again, not a big deal, but this will create a day or two of delay in the process.

Credit: Credit requirements are a bit more stringent with rental property loans compared to owner-occupied loans. Almost all loans are approved or denied by a computer system, so scores may vary. For example, if you have less than perfect credit but a higher down payment, the computer might approve the loan. In the rare case that the loan is manually underwritten, the rentals credit must be 620 or higher until you reach your fifth rental, at which time you must have a credit score of 720.

Entities: Conventional lenders will not lend to an LLC or corporation; you will need to own the home in your personal name to qualify. Many lenders will not lend you money if at ANY time you owned the property in an entity. Most fix and flippers do business in one entity, so you can see how this can cause you a problem with a refinance. However, all hope is not lost! Because Joe is a direct lender to Fannie Mae, you can finance it while his property is in his entity, but it will require you to move it into his personal name. If you hear a lender tell you that they can’t help you because you own your investment in their LLC or corporation, know that there are lenders like Joe who can.

ITD: You may hear that you can’t finance a rental because your debt-to-income ratio will be low, which means you don’t make enough money to support all your debts. The issue here is often the amount of rent on the new property, and whether you can use it to offset the new mortgage payment. Some lenders will want to see the property on your tax returns to give you credit for income, which is always a loss in the first year you buy a new property and rehab it; therefore making it more difficult to qualify. If you receive this information, call another lender. The guideline here is that you can use 75% of the gross rental amount as income if you have a lease and can show at least one month’s rent collected and the security deposit.

Another problem with DTI is self-employed borrowers. I have written entire articles on this subject, because many self-employed people take as many deductions as possible. When you take a deduction, you reduce your taxable income, so you save on taxes. The problem is that when you reduce your income, you hurt your DTI, making it harder to qualify for loans. It’s not the fact that you’re self-employed that prevents you from getting a loan, it’s the income you report. The guideline here is that you can get a loan when you are self-employed if your income supports the debt. Income is documented with two years of tax returns, unless you’ve been in business for at least five years and have a credit score of 740 or higher, in which case you’ll only need one year of tax returns.

Bookings: As you start to go over budget or have problems with your fix and change, it’s all too common to burn through your reserves to save the deal. This is understandable, but it could create a problem. You must have reserves to qualify for a conventional loan, so it is very important that you have this in place before applying for your refinance. The guideline is a bit confusing and is based on the number of properties you own. The reservation requirement is:

6 Months of mortgage payments on the property in question (PITI) plus…

• 2% of unpaid loan balances on your other rental property loans for 1-4 financed properties
• 4% of unpaid loan balances on your other rental property loans for 5-6 financed properties
• 6% of unpaid loan balances on your other rental property loans for 7-10 financed properties

You do not count the balance of your primary home mortgage in these calculations.

You can use some of your retirement money to meet this requirement, but you’ll also need money in the bank. Check with your lender if you plan to use your retirement money to meet this requirement, and they can tell you what funds should be there at the time of application. If you start to run low on reserves, do what you can to make the house acceptable for an appraisal and then get the loan. Once the loan is in place, go back and fill out anything you need to fill out that will eat up your reserves.

Changes in your situation: Several things can create problems here. If you’re in the middle of the refinancing process, it’s probably best if you don’t get any additional credit or even have your credit taken away. You also don’t want to quit your job, which seems obvious, but I feel the need to mention it.

I wish I had this information when I was working on that house in Arvada, and I wish I had known someone like Joe to help me through the process.

When deciding to sell your home you have two options. You can use the services of a real estate broker, or you can sell it yourself to a “We Buy Homes for Cash” company. Each scenario has its pros and cons, which we describe below. Every situation is different and we want to make sure you make the best decision possible. We’ve also outlined some key questions to ask yourself before making this big decision.

real estate agents Real estate agents are the best source to sell your property. It is a proven fact that real estate agents will get at least 10-20% more for your property than if you sold it yourself. It is also a proven fact that you will sell it 50% faster using the services of a local real estate agent. Since most agents are up to date with the latest trends, they will be able to guide you on what elements need to be addressed to get the maximum price for your home. With an agent who specializes in your neighborhood, they may have connections to buyers through colleagues and past clients that you don’t have access to. A network of agents is a very powerful tool to sell your house quickly. I recommend using larger co-op brokers like Berkshire Hathaway or Coldwell Banker Gundaker.

With any service provider it is a cost of doing business. The average expense for a real estate agent is 6-7% of the sales price of your home. For example, if you sell your house for $200,000, it will cost you between $12,000 and $14,000 at closing. If you decide to use a real estate professional to sell your property, you are most likely dealing with financed buyers, which means you may have to pay seller commissions ranging from $3,000 to $5,000. Selling to a financed buyer also means that once you sign a purchase contract, you typically have to wait 30-60 days to close. Let’s also not forget the cost of inspections. Most cities require the home to pass an occupancy inspection. When the city sends an inspector, there may be items that do not meet the city’s requirements and can be expensive to repair. The potential buyer will also hire a private inspector due to his own due diligence to see what the home may need. This can also be costly if the buyer has high demands before deciding to go ahead with the purchase. The extra money you earn by hiring a real estate professional can be paid off with the cost of broker fees and inspection fees.

We buy Houses Cash Companies. These companies often have a bad reputation in the area. They are often seen as scammers or dishonest people when in reality these companies can be very helpful to people. Like anything, there are pros and cons to taking this route. Since these ugly home buyers are investors, they won’t give you full price for your home. They typically buy property for 50 to 60 cents on the dollar.

But before you kick these guys out of your house, take a moment to think about the benefits of selling to a cash investor. Easy money! In most cases, these buyers have the cash to purchase the property immediately. Not only will it be a cash sale, but you won’t have to worry about paying any concessions to the seller. Many times they will even cover your closing costs, saving you additional money. These cash buyers will also save you those hefty realtor commissions. Since your property is for sale by owner, there will be no broker involved. No broker = NO FEES! Did I mention there will be no inspection? Since this is most likely an AS-IS cash sale, the buyer will not be bringing in a private or city inspector, which means they will not have to do any repairs to the property. So while you may not get full price for what you think your home is worth, you will save tens of thousands of dollars in fees and repairs. It makes the deal even sweeter knowing that they can close in as little as 7-10 days if necessary. The best part of selling to a cash investor is that you can leave unwanted items at the property so you can save even more money on moving expenses.

This is a big decision that should not be taken lightly. There are a few questions to ask yourself before deciding which route to take.

1. Does the house need repairs?

2. Is the house outdated by today’s standards and what do other similar houses look like?

3. Do I need to sell immediately?

4. Is the repair list too much for me right now?

5. Will a quick sale take the burden of managing this property off me?

If you answered yes to any of the questions above, then you’ll probably want to consider selling to a local real estate investor who has the cash to close immediately. A quick cash offer with no realtor’s fees, closing costs or significant moving expenses may be the best option for you. If the house has held up fairly well over the years and you can afford to stay in it for a while, your local real estate agent will be the best option for you and your bank account.

Click below to learn more about Berkshire Hathaway or Coldwell Banker Gundaker.

Today’s first-time homebuyers are inundated with a wealth of information about getting their first home loan. It’s obvious and simple what first-time homebuyers want when looking for a loan. They want information that is clear, they want to be educated on the steps involved in getting a loan, and most importantly, they want someone they can trust to organize their finances. First-time homebuyers are often seen as vulnerable because it’s their first time buying a home, so they’re especially prone to being scammed by bad finance sources who only look out for their best interests.

If you ever come across an unfamiliar housing or finance term in this article, do a quick Google or Yahoo search to find out what it means, it will help you a lot. Alternatively, go to the website at the end of this article and go to the glossary page.

Some areas will be covered to help first-time homebuyers with their first home loan; the type of borrower you are and the sources of financing. There is also a downloadable buyer’s checklist and a link to the home loan calculator. These topics just scratch the surface of what is involved. It is recommended that you consult a mortgage broker or other financing source to fully educate you on what is involved in obtaining your first home loan.

type of borrower

There are a few different types of homebuyers that make up this category. The three main ones that will be explained in this article are; investment buyers, non-conforming buyers and first-time home buyers.

Investment Home Buyers

This particular group of buyers already owns, or is already paying for, some type of property. Their parents or relatives may have given them land or property, or may have purchased or used equity in prior property or land to make additional purchases.

Because they have existing properties, banks and mortgage brokers can get financing much quicker and easier, because they have collateral behind them (which is like a security back in case your finances go bad for the purchase of the second or third property).

Nonconforming Homebuyers

Non-conforming home loans are basically designed to finance those people who may find themselves in unusual situations regarding how their income is paid or how they want to finance their home loan or mortgage. Non-conforming borrowers are also people who may have previously been turned down for a home loan for various reasons, such as bad credit, bankruptcy, or unusual income (more on non-conforming areas below).

Banks are normally quite reluctant to approve mortgages for those who fit the non-conforming loan borrower and people often find that banks reject their first ‘standard’ loan application.

first time home buyers

Buying your first home is without a doubt one of the biggest and most exciting purchases you’ll ever make.

What you ideally need is a mortgage broker or other financing source to help you through the process of weighing your options so that you have an objective assessment of the best loan for your situation. Mortgage brokers tend to be more objective than banks because mortgage brokers can take a look at a multitude of different financing options from different financial institutions to find the best loan for your situation. Even better, if you can find a mortgage broker who specializes in first-time homebuyers, then you’ll have better information and help available because they help first-time homebuyers all the time.

Need help getting your first home loan or assistance with a first-time homebuyer grant? Don’t worry, you’re not alone. It is often difficult to know where to start when looking for a home loan. There are so many options and many mortgage providers to choose from. First West Home Loans specializes in helping first-time homebuyers with the process of obtaining their first home. We guide you through the steps necessary to successfully secure financing.

There are many incentives available to first-time homebuyers in Australia, including the first-time homebuyer grant, which is $7,000. In addition, there is also the option of not having stamp duty on your purchase.

As with all things, there are conditions attached.

How much can you borrow?

Using a home loan calculator can help you get a rough idea of ​​how much you can borrow. Don’t be discouraged if it’s not as much as you initially expected, it’s a rough estimate. For an accurate appraisal, contact a mortgage broker or other financial source for more information.

When it comes to food storage and safety, one name cannot be forgotten. Yes, they are Tupperware products. The company has been producing a wide range of products that you can find in any other kitchen for years. Some people always put all their emphasis on selecting the best quality product, and this company caters to such people in the right way.

Of course, you can find similar types of products available in different stores, and they cost less, too, but at the end of the day, quality separates Tupperware products from their competition. There are several reasons why many people always prefer these products over others. For example, all of these products come with a lifetime warranty, something you don’t often see with most of the products available on the market. The company offers a personalized service in case something goes wrong and it does not work as it should. Their food storage units are so impressive that they always keep your food fresh for a long time. And of course, you can buy these products just by going online.

Now, if you want to see the other side of the picture, you won’t find many people concerned with the quality of these products. However, there is a common problem: the price. Most people think that the price should go down a bit, which may be correct for some specific products. You should also keep in mind that what they offer can outperform other brands any day, and that is what makes their products cost a lot of money. But rest assured, the products you buy from this particular company will give you the best value for your hard-earned money.

The bottom line is that if you don’t mind shelling out some extra money for better quality, you might want to invest your money in Tupperware products.

In two-story residential construction, handrails and balustrades are one of the most common damaged fixtures. Dents, scratches, and splashes can occur from drywall installation, moving furniture, tool belts, construction materials, and more. Below is a discussion of surface protection products used to protect handrails and balustrades during construction projects.

A common method of protection is simply to use a plastic sheet taped over the handrail. This does not provide any impact protection and leaves the railing vulnerable to damage. This is the method drywall installers use to protect handrails only; it is not a good choice for project-wide protection.

Another railing protection option is to use bubble wrap and tape. This is somewhat effective for impact protection, but can be labor intensive if the project has many handrails to protect, such as a large-scale condominium complex.

Molded Styrofoam is a molded handrail protection product that resembles a pool noodle. It can be wrapped around the top handrail but leaves the balustrades unprotected. Styrofoam is great for top rail impact protection; however, since the balustrades are left unprotected, it does not serve to protect the entire railing system. This is the most expensive handrail protection per square foot.

Another option is an impact-resistant, adhesive bubble wrap product. This effectively protects the handrails and avoids the risk of adhesive transfer. This option requires minimal labor and has a professional appearance. An adhesive bubble wrap handrail cover can protect stained/unstained wood or metal handrails. Bubble Adhesive works equally well on commercial and residential construction projects.

What happens after the construction is complete? Handrails can also be damaged if homeowners carry furniture up and down the stairs. A great way for builders to emphasize their commitment to customer service is to leave guardrails in place while homeowners move out. Since the owner will need to sign off the condition of the handrail and other accessories, it is best to use a handrail protection product that can be easily removed and reinstalled for owner move-in. This helps them prevent damage to your home and increases customer satisfaction.

These are just a few ways to prevent handrail damage during construction and renovation projects. The use of surface protection is a great way for builders to save time and money by avoiding the need to replace or repair expensive handrails and balustrades.

The word “investment” is used in many ways. The word is even used where it doesn’t exactly belong. So why and how exactly should you invest in yourself? I’m going to explain 3 great reasons why you should start investing in yourself and give you a couple of ways to invest wisely in yourself and your future! In the end, I hope it is clear how important it is to invest in yourself and start this investment today.

3 great reasons to invest in yourself

1. Confidence building – Investing in yourself will give you a huge confidence boost. Knowing that you are growing mentally or financially or in any other way is an amazing and rewarding feeling. This can lead to being able to achieve personal goals, exploring new ways to improve yourself financially or romantically or whatever, or even just furthering your current career. This also allows an open door for you to have more respect and love for yourself because you realize the fact that you made a commitment to deal with those things and you will.

2. Higher earnings – If you want to make a lot of money, you will have to invest in yourself. Before someone is willing to invest in you, you must first invest in yourself. If you do this educationally, you will be able to achieve potential growth in almost any industry available. Education is something you should never stop growing in, learn as much as you can and watch yourself reach potential you didn’t think possible. Have you ever wanted to be rich?

3. You are worth it – The main reason to invest in yourself is because you are worth it! I try to plant this message in the minds of my children because it is a very valuable lesson. You should never settle for less than you can truly reach your potential. Every day should be a rewarding challenge to grow your potential to new heights. If you have the mindset that you are worth more than you have, regardless of the situation, you will see massive growth in everything you do. This reason to invest in yourself is undoubtedly the most important.

2 great ways to invest in yourself

1. Educationally – There are all sorts of different ways that you can invest in yourself in education and it is highly recommended that you do so. Your brain can hold a lot of information! Never fear education, accept it and welcome it! Any seminar or workshop you’ve been invited to or heard about recently that you haven’t thought of at all, let’s start thinking about them! I’m not a real estate professional, I don’t even have a house paid in full right now. However, I have attended countless real estate seminars just because I love to stay informed! If I ever decide to pursue a career in real estate, I’m already prepared.

2. Financially – I understand that this will be difficult, especially if you have few funds available to start with. However, if you want to substantially increase your income level, investing in yourself financially is an absolute must! You can do this with stocks, real estate, a business, or anything else that generates income for you. However, if you do this, you should be looking for ROI! Personally, I don’t do stocks because I don’t see a good enough return on investment. Fortunately, there are many other ways to financially invest in yourself with a fantastic return on investment, such as real estate or direct sales.

A couple of final tips

1. Make a 5-year plan – Have you ever done this during college or high school or maybe even had to tell a potential employer this during an interview? Well people do this for a reason. Writing things down in general makes it easier to retain the information and commit to doing what you wrote. So make your five-year plan and post it somewhere you can see it every day! When stress overwhelms you, this plan will usually calm you down a bit and you will be able to realize that you are exactly where you want to be in your steps to achieve your full potential and goals.

2. Get the ball rolling – I’m a great planner! I plan everything I do strategically. I plan exactly how I’m going to make my coffee in the morning! Yes, it’s that extreme, but I enjoy it! Planning is great, however, you must learn to take action! I was one of those people who thought and planned everything but didn’t do much! I had to get the ball rolling and after I finished planning, I had to start executing my plan!

Investing in yourself and your future is very important if you want to achieve big goals or dreams. Ask anyone who has achieved great success at something and they will tell you how important it is and how long it took them to get to where they are today. Don’t be afraid to put some money on the line for a possible reward later. Just make sure your money goes to something that is rewarding and has a high ROI!

How long is too long? In a dry market, a sales period of six months to a year is not unusual. Look at recent sales reports for similar homes nearby to determine a reasonable sales range. In a hot seller’s market, a house that hasn’t sold in a month indicates a problem. In either case, there are several steps you can take before raising the white flag.

• Videotape your home, inside and out, and watch the tape as if you were a prospective buyer. Is the lawn overgrown or the garden bare? Is your house tidy and impeccably scrubbed? Spotlessly clean homes sell faster than those that appear overcrowded or display an abundance of the owner’s personality.

• Take a second look at your list price. Visit open houses in your neighborhood. Do similar houses have a lower price? Sales prices may have dropped since your first comparative market analysis. In a hot market, if you haven’t sold your house within a month, chances are you’ve overvalued it. If you lower the sales price, consider a figure slightly lower than other comparable homes if you’re interested in a quick sale.

• Do whatever it takes to be away from home during exhibits and open houses. The presence of sellers makes it difficult for prospective buyers to take their time or speak openly with their partner and agent. Leave a few freebies to make potential buyers feel more comfortable: drinks, nuts, cookies—anything that won’t lose freshness or make too much mess.

• Pay close attention to the comments of the exhibits. Feedback can guide you in making home repairs, toning down your decor, making landscape improvements, and the like.

• You can offer buyers perks like cash bonuses, closing costs, or lowering your interest rate to lower monthly payments. You might also consider owner financing.

• Neutralize your color scheme. Most buyers prefer pale, neutral colors that make it easy to imagine a new home as their own. Houses with white exteriors are the best sellers; for interiors, try whites, off-whites, or pale grays.

• Expose hardwoods and polish them to a shine. It’s amazing how many buyers won’t even look at a home without hardwoods.

• If you have dogs, cats, old carpeting, mold or smoke problems, a potential buyer is likely to be offended by the smell. Ventilate the house and invest in an air cleaner and deodorizer to remove odors. Another option is a cleaner with live enzymes that consume odor-causing agents and permanently eliminate odor.

• Staging your home is one of the best ways to sell your home faster and for the best price. Staging sets the scene throughout the home to create immediate buyer interest in the property. The way you live in your home and the way you sell your home are two different things. One idea is to pack several large pieces of furniture and as much clutter as possible in each room. Don’t just move to another room or garage, rent storage space and move it out of the house before showing it.

• Pay attention to lighting. Make sure light sources are clean. Cleaning them is not pleasant, but bright lighting will be worth it. You can even increase the brightness factor of your rooms by adding brighter bulbs or placing accent lamps or cabinet lighting. Be sure to open the curtains and raise the blinds. For best effect, use a balance of natural, overhead, and table or floor lighting.

• Try to readjust your sights. Determine the lowest price you find acceptable, and consider anything else the icing on the cake. In a long-standing dry market, you may even have to sell at a loss, so it’s important to take all offers seriously. You don’t want to alienate a potential buyer who has solid financing because you’ve set your sights too high.

• If the market is underwater, consider offering a higher commission or bonus to your listing agent as an added incentive. If you sweeten the boat for your agent, amend your listing contract to reflect the change and make sure it’s added to the Multiple Listing Service (MLS) book—buying agents will also be inspired to give your home some extra attention.

Investors and homebuyers are discovering that real estate bank Prudential’s property foreclosure listing offers a wide range of discount homes. Homes in foreclosure are rising in rank as the preferred choice for buyers as they are priced below market value.

Prudential Real Estate Bank’s property foreclosure list covers all types of residential properties, as well as industrial and commercial real estate. Regardless of the type of real estate you prefer, Prudential’s foreclosure list can likely help you locate it.

Bank-owned homes are foreclosed properties that did not sell at public auction. The houses are returned to the lender who manages them and the banks list the properties through real estate agents. Their primary goal is to recover foreclosure costs and prevent future expenses. Banks are responsible for property taxes, insurance, and general maintenance, so they lower the price to attract a quick sale.

Due to the extreme magnitude of bank foreclosures, several million distressed properties are available across the country. Based on the number of homes, it has become virtually impossible for banks to handle the sale of each property. Therefore, lenders enlist the assistance of local real estate agents to list bank properties, arrange viewings, and mediate purchase price negotiations.

Buyers submit offers through Prudential real estate agents, just as they would when making an offer on other types of listed properties. Agents submit real estate offers to the mortgage lender, who in turn accepts, rejects, or offers a counter offer.

Banks reduce the cost of foreclosed homes to remove toxic assets from their books. The Federal Reserve Bank provides money to lenders based on profit margins. If mortgage lenders have a lot of stagnant real estate, the amount of money they receive for lending purposes may be cut off until they become profitable.

For this reason, mortgage lenders are rarely willing to further reduce the sales price of bank-owned homes. Buyers planning to purchase Prudential Bank foreclosure property should be prepared to pay full asking price unless substantial damage is found during home inspection.

To submit offers on Prudential foreclosed homes, buyers must obtain pre-qualified financing. Prudential real estate agents can help buyers locate mortgage providers or buyers can search for lenders on their own. One of the most trusted sources for home loan comparison is BankRate.com.

If buyers can buy bank foreclosures with cash, they could lower the sale price even further. Banks are sometimes willing to reduce the price of bank properties when an all-cash offer is made. Buying houses with cash eliminates the possibility of buyers not being approved for a mortgage loan and reduces the time required for closing. Many real estate investors buy bank-owned real estate with cash to get the best deal and speed up closing.

Individuals interested in purchasing foreclosure property from Prudential Real Estate Bank can review property listings and obtain listing agent contact information at PrudentialProperties.com.

Manufactured homes are a practical and popular living option for those who want the security of home ownership but do not have the capital to invest in a traditional property. Over the years, the quality of manufactured homes has increased considerably, with many state-of-the-art features that truly turn a house into a home.

There are some important factors to consider when choosing parts and supplies for your manufactured homes so you don’t have too much trouble, these include

Good quality baseboards are required to keep your house looking good and keep out vermin that can get between the concrete base and the foundation of your house. Pests may seem harmless, but they can easily chew through electrical and plumbing, which can be expensive to repair. Good quality skirting boards look good and make your home look and feel more secure.

A solid floor should be a definite investment, as skimping on the quality of the wood will only lead to moisture and rot problems a few years down the line. If you currently live in a manufactured home and have a soft spot in the floor, you’ll need to fix it as quickly as possible so you don’t crack the entire floor.

A solid roof is essential to keep out rain, cold and pests. A leaky roof can quickly cause mold inside your home, and if left unchecked, the entire roof could give way. A well-constructed roof will also provide great energy savings, as it will keep heat in during the winter, and in summer, a cool roof covering can reflect up to 80% of sunlight.

Good ventilation is a legal requirement when owning a manufactured home with 4% of its floor area in the form of windows or a vent that provides ventilation for the entire house. There are a number of ventilation systems available with different levels of energy efficiency. You will need to explore all the options to see which system suits your needs.

A good plumbing system is another integral part of a manufactured home. The last thing you need is a clogged toilet or blocked sink when you’re trying to unwind after a hard day at work. Plumbing is likely to be one of the most expensive aspects of building or renovating your home, but spending money up front will save money on repairs in the long run. An electric water heater is a must if you want a reliable hot shower in the morning. A plumbing system for a manufactured home is different from a site-built home, so you should do your homework before rushing to install it in your new home.

If you own a manufactured home or are looking to renovate your existing home, making sure you’ve covered all of the above needs will ensure you have a happy home and many years of content.