Navy Fellas Realty Group

Real Estate, Residential sales and purchase

Easy Ways To Get More From Your Home Garden

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Growing a home garden creates beauty, oxygen and even food for our families to enjoy. If you’re looking to get more from your home garden, here are four easy ways to improve a green thumb.

A Good Foundation For Your Garden

Good soil is the foundation of a healthy garden. By using quality soil, you can give your garden the best start possible. Adding a variety of organic matter to soil will give plants a happy home to grow in. Add two to three inches of organic matter to your garden bed at the beginning of each season. Compost, dried leaves, grass clipping and dry manure are all good organic materials to use in your garden. Manures provides nitrogen, which is a great contributor to soil aeration and composting efforts. Being so far along in the decomposing process, the nutrients in manure are readily available for plants. Fresh manure, however, is more likely to leach out of the soil into groundwater and streams.

Design Fundamentals To Achieve Harmony And Flow

Although landscaping your home garden is a matter of personal taste and preference, there are some fundamental principles for creating a good garden. Balance and proportion establish the basic structure of a garden. Order is obtained through symmetry, repetition of plants, and colors or thoughtful contrast. This will create a garden space that is both balanced and proportioned. Harmony and unity is achieved when different aspects of your garden work together as a whole. Strong focal points and a limited color palette can help with the overall look of your garden. Prevent the eye from making sudden stops with good flow and transition in your garden. Gradual changes in height and color create the illusion of a larger space and will make for a full and finished look in your garden.

Variety Is Important And Maintenance A Must

Have a good combination in your garden of annuals, perennials, shrubs, trees, and food producing plants. Plants that require little maintenance and come back each year will take some of the pressure off when it comes to seasonal changes and garden preparation. With more time to focus on bedding plants and vegetable gardens, you’ll yield a bigger reward for your gardening efforts. Water features and other structural focal points work in much the same way; they provide your outdoor space with added beauty and appeal that is easy to maintain throughout the year.

Don’t Be Bothered By Pests And Bugs

Although people have differing opinions on pests, at home a greener garden is always a healthier garden. Harsh pest control products can hurt wildlife and pollute groundwater. You may be solving one problem, but using chemical pesticides contributes to another. There are many ways keep pests under control without chemical products. With so many easy to make homemade pesticides to discover, gardeners can ditch the chemical alternative without sacrificing quality. There are also plants such as marigolds that can be incorporated into your garden that deter pests.

A garden is a labor of love that creates a welcoming outdoor space that your family can enjoy. Call your local real estate professional for more information on creating or finding your perfect home garden.

What’s Ahead For Mortgage Rates This Week – March 3rd, 2025

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The PCE Index has aligned with expectations, and as the Federal Reserve’s preferred measure of inflation, it eases the sense of urgency for policy action. GDP data has also indicated continued economic growth, though this is tempered by future forecasts predicting a potential economic contraction. This outlook is further reflected in the Consumer Confidence report, which has shown a significant decline since the change in administration. Uncertainty is evident across lending and broader markets, affecting all aspects of the economy.

PCE Index

The Federal Reserve’s preferred PCE index rose by 0.3% last month, according to government data released on Friday. This increase matched the forecasts of economists surveyed by The Wall Street Journal. Year-over-year inflation edged down slightly to 2.5% from 2.6%, but it remains above the Fed’s 2% target.

GDP

An early look at the first quarter points to a somewhat similar rate of growth in the 2% to 2.5% range. However, a severe cold snap in January and a post-holiday lull in economic activity could weigh on GDP.

Consumer Confidence

Consumer confidence, which surged to a post-election high after Donald Trump’s victory, has faded as the public adjusts to major shifts in U.S. economic policies, including trade and tariffs. In February, the Conference Board reported that its consumer confidence index fell by 7.0 points to 98.3, an eight-month low.

Primary Mortgage Market Survey Index

• 15-Yr FRM rates saw a decrease of -0.01% with the current rate at 5.94%
• 30-Yr FRM rates saw a decrease of -0.09% with the current rate at 6.76%

MND Rate Index

• 30-Yr FHA rates saw a decrease of -0.13% for this week. Current rates at 6.12%
• 30-Yr VA rates saw a decrease of -0.13% for this week. Current rates at 6.15%

Jobless Claims

Initial Claims were reported to be 242,000 compared to the expected claims of 225,000. The prior week landed at 220,000.

What’s Ahead

This round of job data should be particularly insightful as the first quarter of the year comes into focus. Additionally, Manufacturing PMI and the U.S. trade deficit stand out as unusually strong data points following the recent change in administration.

Buy or Build? Which is Right for You?

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Deciding between buying and building a home is a major financial and lifestyle choice. Each option has its benefits and challenges, and understanding them can help you make the best decision for your needs.

Pros of Buying a House

One of the biggest advantages of buying a house is convenience. Once you close the deal, you can move in immediately—no waiting for construction to finish. Established neighborhoods also offer access to schools, parks, shopping centers, and essential services, making location selection easier.

Financially, buying a home can often be more affordable than building, especially in a buyer’s market where deals are available. Additionally, an existing home already has a resale value, making future selling decisions more predictable.

However, purchasing a home comes with some downsides. Limited customization means you may need to compromise on layout and features unless you’re willing to invest in renovations. Older homes may also require ongoing maintenance and repairs, and hidden problems could surface after moving in.

Pros of Building a House

Building a house provides complete customization, allowing you to design a home that suits your exact needs and preferences. You also benefit from new materials and modern technology, which can improve energy efficiency and sustainability. Additionally, a newly built home means fewer hidden issues or costly repairs.

However, building a house requires patience. The process can take months or even years, and unexpected delays may arise. Construction costs can also be higher than purchasing an existing home, especially if high-end materials or custom features are included.

Which Option is Right for You?

If you prioritize convenience, location, and potentially lower costs, buying an existing home may be the better choice. On the other hand, if customization and modern features are important, building could be worth the investment.

Ultimately, the decision depends on your budget, timeline, and lifestyle preferences. Researching your options carefully will ensure you make the right choice for your long-term goals.

What You May Not Know About Owner Financing When Buying a Home

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Owner financing is an alternative home-buying method that many buyers and sellers overlook. Instead of securing a mortgage through a traditional lender, the buyer makes payments directly to the seller under agreed-upon terms. While this arrangement can be beneficial, there are key details to consider before choosing owner financing.

1. No Traditional Lender Involvement

One of the biggest advantages of owner financing is that it bypasses banks and mortgage lenders. This can be helpful for buyers who may not qualify for a traditional loan due to credit history, self-employment income, or other financial factors. Instead, the buyer and seller agree on loan terms, including the interest rate, repayment schedule, and down payment.

2. Faster and More Flexible Closing Process

Since there’s no need for lender approval, the closing process is typically faster and involves less paperwork. Buyers and sellers can negotiate customized terms, such as a lower down payment or a flexible repayment schedule that suits both parties.

3. Higher Interest Rates and Balloon Payments

While owner financing can be a great option, it often comes with higher interest rates than conventional loans. Additionally, many owner-financed agreements include a balloon payment—a large sum due at the end of the loan term. Buyers need to plan ahead for this, either by refinancing with a traditional lender or saving enough to make the payment.

4. Sellers Take on More Risk

For sellers, owner financing can help attract more buyers and generate steady income. However, it also comes with risks—if the buyer defaults on payments, the seller may need to go through the foreclosure process to reclaim the property. To protect themselves, sellers should thoroughly vet buyers and work with a real estate attorney to draft a solid agreement.

5. Due-on-Sale Clause Concerns

If the home still has an existing mortgage, the seller must check whether a due-on-sale clause applies. Many traditional mortgages require the full balance to be paid if the home is sold, which could create legal and financial issues for an owner-financing arrangement.

Is Owner Financing Right for You?

Owner financing can be a win-win solution for buyers who struggle to secure a loan and for sellers looking for an alternative way to sell their home. However, it requires careful negotiation, legal protection, and a solid repayment strategy. Consulting with a real estate professional or attorney is crucial to ensure a smooth transaction.

Understanding the Risks of Buying a Home With a History of Termite Infestation

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Buying a home is one of the biggest investments you’ll ever make, and discovering that a property has a history of termite infestation can be a major red flag. However, this doesn’t always mean you should walk away. Understanding the risks, potential costs, and ways to protect yourself can help you make an informed decision.

What Are the Risks?

  1. Structural Damage: Termites feed on wood, and if an infestation went undetected for a long time, it could lead to significant structural issues. Damage to load-bearing beams, flooring, and walls can compromise the integrity of the home.
  2. Recurring Infestations: Even if a previous infestation has been treated, there’s always a risk of termites returning, especially if the root cause (such as moisture or untreated wood) hasn’t been addressed.
  3. Costly Repairs: Depending on the extent of the damage, repairs can be expensive. Replacing structural elements, flooring, and even drywall can add thousands of dollars to your budget.
  4. Insurance Challenges: Homeowners insurance typically does not cover termite damage, considering it a maintenance issue rather than a sudden event. This means any future damage would likely be an out-of-pocket expense.
  5. Resale Concerns: A history of termite infestation can make a home more difficult to sell in the future, as buyers may hesitate or demand additional inspections and repairs before closing.

How to Protect Yourself as a Buyer

  • Get a Termite Inspection: A standard home inspection may not be enough to detect past or present termite damage. Hiring a licensed pest control specialist for a termite-specific inspection is crucial.
  • Review Past Treatment Records: If the home has been treated for termites, ask for documentation of the treatment, including when it was done, what methods were used, and if there’s an active termite bond (warranty or service agreement).
  • Assess the Damage and Repairs: If termites caused structural damage, request repair records or hire a contractor to evaluate the extent of the repairs. If necessary, negotiate with the seller to cover some or all of the costs.
  • Consider a Termite Bond: Some pest control companies offer termite bonds, which act as a service agreement to provide ongoing inspections and treatment if needed. This can offer peace of mind and financial protection.
  • Negotiate the Price: If you’re still interested in the home but concerned about past infestations, you may be able to negotiate a lower purchase price to account for potential risks or upcoming maintenance.

Buying a home with a history of termite infestation comes with risks, but it doesn’t have to be a dealbreaker. By conducting thorough inspections, reviewing past treatments, and negotiating smartly, you can make an informed decision. If you’re unsure, working with a knowledgeable real estate agent can help guide you through the process and ensure you protect your investment.

Understanding the Process of Selling a Home Through a Lease-Purchase Agreement

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Selling a home through a lease-purchase agreement can be a great option for both buyers and sellers, offering flexibility and potential financial benefits. Whether you’re a homeowner looking for alternative selling strategies or a buyer who needs time to secure financing, understanding how this process works is key.

What Is a Lease-Purchase Agreement?

A lease-purchase agreement, also known as a rent-to-own contract, allows a tenant to lease a home with the option to purchase it at a later date. Unlike a standard rental agreement, a portion of the tenant’s monthly rent may go toward the future purchase of the home, helping them build equity while they rent.

How Does It Work?

  1. Agreement Terms: The buyer and seller agree on the purchase price and the length of the lease period, typically ranging from one to three years.
  2. Option Fee: The tenant-buyer usually pays an upfront option fee (often 1% to 5% of the purchase price), which secures their right to purchase the home. This fee may be credited toward the down payment.
  3. Monthly Payments: The tenant pays rent, and a portion of that payment may be set aside as a credit toward the purchase.
  4. Final Purchase: At the end of the lease term, the tenant can exercise their option to buy. If they qualify for financing, the sale moves forward just like a traditional real estate transaction. If they decide not to buy, they may forfeit the option fee and any rent credits.

Benefits for Sellers

  • Larger Buyer Pool: Lease-purchase agreements attract buyers who may not currently qualify for a mortgage but are working toward homeownership.
  • Steady Income: Sellers continue to receive rental payments while securing a potential sale.
  • Higher Sale Price: Because the sale price is often set in advance, sellers may benefit if the home’s value appreciates during the lease period.
  • Lower Vacancy and Maintenance Risks: Tenants in lease-purchase agreements often treat the home as their own, reducing property maintenance concerns.

Benefits for Buyers

  • Time to Improve Credit or Finances: Buyers who need time to boost their credit score or save for a down payment can work toward homeownership without losing their preferred property.
  • Equity Building: Monthly rent credits contribute to the down payment, helping tenants build equity while they lease.
  • Locked-In Price: The purchase price is agreed upon at the beginning, which can be beneficial if home values rise.

Things to Consider

While lease-purchase agreements can be beneficial, they also come with risks. Sellers should work with a real estate professional to ensure the contract is structured properly and legally binding. Buyers should fully understand the terms and be confident in their ability to secure financing when the lease ends.

A lease-purchase agreement can be a win-win solution, allowing sellers to secure a future sale while giving buyers the opportunity to work toward homeownership. However, like any real estate transaction, it’s important to have clear terms and legal protections in place. Consulting with a real estate agent and an attorney can help both parties navigate the process successfully.

What’s Ahead For Mortgage Rates This Week – February 24th, 2025

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The most impactful report released last week was the regular Consumer Sentiment reports, which have indicated the more recent concerns rising food costs have soured the view on the current state of the economy for the U.S. The talks between the Federal Reserve members have also slanted in a negative direction as they feel they still do not have a strong grip on inflation. With the Trump administration also shaking things up in the office with their views on Tariffs, the land lending and broader markets have seen a lot of turmoil and uncertainty about the future. There should be dampened expectations going forward across all markets.

Consumer Sentiment

Consumer sentiment sours as worries grow over the outlook for the U.S. economy. Confidence drops 10% from January to the lowest level since late 2023. The second of two readings of consumer sentiment in February slipped to 64.7 from 67.8 earlier in the month, the University of Michigan said Friday. It’s the lowest level since November 2023. Sentiment has fallen nearly 10% from January.

Primary Mortgage Market Survey Index

• 15-Yr FRM rates saw a decrease of -0.05% with the current rate at 6.04%
• 30-Yr FRM rates saw a decrease of -0.02% with the current rate at 6.85%

MND Rate Index

• 30-Yr FHA rates saw a decrease of -0.08% for this week. Current rates at 6.25%
• 30-Yr VA rates saw a decrease of -0.07% for this week. Current rates at 6.28%

Jobless Claims

Initial Claims were reported to be 219,000 compared to the expected claims of 215,000. The prior week landed at 214,000.

What’s Ahead

The PCE Index inflation report, the Federal Reserve’s preferred measure for assessing inflation, will be released the following week. The overall outlook remains largely hawkish and pessimistic.

Do I Need Flood Insurance Coverage For My Home?

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One of the most important overlooked form of insurance for homeowners is Flood Insurance. Flood damage is not covered on a typical homeowners insurance policy. Although sometimes FEMA (the Federal Emergency Management Agency) provides help for victims of flood damage, it does not provide coverage for personal property, and is often defined as a loan and must be repaid.

Flood Insurance for Homeowners: What Does it Cover?

Depending on the type of flood insurance you carry, it covers various things. The basic coverage on a flood insurance policy covers the structure of the home, which would  also  include permanently installed fixtures, finishes, and systems.  This would typically include your electrical system, plumbing, heater, water heater, built-in appliances,  flooring, and permanently installed cabinets, bookcases, and fixtures.

You can also add additional flood insurance to cover the contents of your home, that would include your clothes, electronics, furnishings, and other personal belongings.

Is Flood Insurance for Homeowners Included in Standard Homeowners Policy?

Some types of water damage may be covered by your home insurance policy, but generally speaking, damage caused by rainfall, rising water, or runoff will not be covered. For example, if your bathroom pipes burst and flood your bathroom and bedroom, your home insurance would typically cover the repair or replacement of your damaged floors, walls, and your personal property. However, a standard homeowner’s policy does not cover actual flooding from rising water caused by a source outside of the home. This is where flood insurance would take effect.

Do I Have to Obtain Flood Insurance?

Depending on who holds your mortgage and whether FEMA’s flood map indicates you’re in a flood zone, you may be required to carry a certain amount of flood insurance for the property.  Other times, flood insurance is considered an optional coverage. Keep in mind that being told by your lender that it isn’t necessary to buy flood insurance isn’t a guarantee a flood will not happen and t is important to remember that regular home insurance won’t replace your personal property or repair your home if your property is damaged by a flood.

What Does Flood Insurance Cost to Protect Your Personal Property?

Flood insurance costs are determined by several factors, including whether your home is in a high-risk flood zone (or in any flood zone at all), the type of flood insurance you want to purchase, the deductible you choose, the amount of coverage you choose, where your home is is located, the age or design of your home, and the location of it. The elevation of the property may also be a factor for properties located in or near flood zones. To get a better idea of the coverage needed as well as deductible that is right for you, speak to a trusted professional agent.

How to Make a Winning Counter-offer Without Losing the Buyer

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Crafting a counter-offer that doesn’t scare away a potential home buyer can be tricky. You want to maximize your sale price while still keeping the deal attractive enough for the buyer to stay engaged. A well-crafted counter-offer strikes a balance between protecting your interests and meeting the buyer’s needs. The key is to approach negotiations strategically, ensuring that your counter doesn’t feel like a rejection but rather a step toward a mutually beneficial agreement. Here are five tips to help you through the process while keeping the buyer interested:

1. Keep Emotions in Check

Avoid letting your emotions drive the conversation and try to remain objective throughout the negotiation process. Keep in mind that the buyer is also looking for a fair deal, and it’s important to approach negotiations with a collaborative attitude.

2. Understand the Buyer’s Needs

Understanding the buyer’s needs and motivations can help you craft a counter-offer that meets their expectations. For example, if the buyer is seeking a quick closing, you may want to consider offering to close sooner than anticipated in exchange for a higher price.

3. Be Clear and Concise

Your counter-offer should be clear and concise, outlining specific terms and conditions. Avoid using ambiguous language and ensure that the offer is easy to understand.

4. Be Reasonable

While you want to get the most out of your home sale, it’s important to be reasonable with your counter-offer. Consider the current market conditions and the buyer’s position and aim for a fair deal that benefits both parties.

5. Keep Communication Open

Effective communication is key to successful negotiations. Keep communication channels open throughout the process and be willing to listen to the buyer’s concerns and feedback. This will help you build trust and rapport with the buyer, making it more likely that they will accept your counter-offer.

To avoid frustrating an interested homebuyer, it’s important to be responsive and timely in your communication regarding their offer. Don’t let their offer sit for too long without acknowledging it and make it clear that you’re actively considering it and will provide a response promptly.

Successfully negotiating a home sale can be challenging, but being open and flexible in your approach can increase your chances of receiving the desired offer.

Thinking about buying or selling a home? Give me a call! I’d love to help you navigate the process and secure the best deal possible. 

Ways to Lower Your Homeowners Insurance Costs

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With the cost of everything rising, homeowners are looking for ways to save wherever they can. One expense that often gets overlooked is homeowners insurance. While it is essential to protect your investment, there are ways to lower your premiums without sacrificing coverage. Here are some strategies to help you secure quality insurance at a fair price.

Shop Around for the Best Rates
Insurance rates can vary significantly between providers, so it pays to shop around. Compare quotes from multiple companies and check with your state’s insurance department for additional resources. When comparing policies, don’t just look at price—make sure the coverage meets your needs.

Increase Your Deductible
Your deductible is the amount you pay out-of-pocket before your insurance kicks in. Increasing it can lower your monthly premiums. However, be sure you have enough savings set aside to cover a higher deductible if you ever need to file a claim.

Bundle Policies for Discounts
Many insurance companies offer discounts when you bundle multiple policies, such as homeowners and auto insurance. If you already have coverage with a provider, check to see if you can combine policies to save money.

Improve Home Security
Installing a monitored alarm system, fire sprinklers, and deadbolt locks can make your home safer and qualify you for discounts on your policy. Some insurance companies offer significant savings—up to 20 percent—on homes with enhanced security features. Before investing in upgrades, confirm with your insurer which systems qualify for a discount.

Maintain a Good Credit Score
Some insurers use credit scores to determine premium rates. A higher credit score can lead to lower insurance costs. Paying bills on time, reducing debt, and monitoring your credit report for errors can help improve your score and lower your insurance expenses.

Review Your Policy Annually
Your insurance needs may change over time, so it is important to review your policy annually. If you have paid off your mortgage, made home improvements, or your home value has changed, you may be eligible for new discounts or better coverage options.

Saving money on homeowners insurance does not mean sacrificing protection. By taking a few proactive steps, you can reduce your costs while ensuring your home is covered.

If you are in the market for a new home, I can help you find the perfect property and guide you through the homeownership process. Reach out today to get started.