Navy Fellas Realty Group

Real Estate, Residential sales and purchase

Protect Your Home When You’re On Vacation With These Five Simple Tips

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Protect Your Home When You’re on Vacation with These Five Simple TipsWhen making plans for a fun-filled vacation, you shouldn’t forget implementing certain home security measures to ward off thieves. Nobody wants to return home only to find that intruders had ransacked the residence from top to bottom.

If you’re going away on vacation, make sure you protect your home against break-and-enters with these five tips.

Alarm Intruders With Audible Deterrence Measures

Installing a professional home security alarm is one of the most cost-effective ways for people to protect their homes when they are away.

Buying and setting up the right system will ensure that the proper authorities will be notified if thieves break in or attempt to force their way in.

While determined crooks will be hard to discourage, most would-be intruders will look for easier targets if they inadvertently trigger a loud, piercing alarm that attracts too much attention from anyone who could call the police.

Make Forced Entry Difficult With Solid Doors

Some thieves will take a very direct approach to break-ins by simply trying to force their way through a locked door. If the exterior doors are hollow, thieves will have a pretty easy time getting through. This is why it is important to install solid doors rather than hollow ones; solid doors are much harder to break through. 

If you’re concerned about intruders forcing their way through your hollow doors, your best recourse is to upgrade to solid doors. Upgrading will cost a pretty penny, but the added protection they will provide will be well worth the investment.

While getting solid doors installed, you can go one step further by investing in good locks, deadbolts and reinforced strike plates.

Do Not Advertise Your Departures

A pile of newspapers at the front door or a mailbox full of mail and flyers will be proof positive to crooks that no one’s home. Homeowners who are going to be away on vacation should ask neighbors or other people they trust to collect their mail while they are away. 

If having a neighbor collect your mail isn’t an option, go to the post office and request that mail service to your home be suspended until you get back. It is also best to suspend newspaper deliveries for the vacation period as well.

Neighborhood Watch To The Rescue

One great home security solution that won’t cost a penny is having neighbors who look out for you. Homeowners would do well to ask trusted neighbors to keep an eye on their property while they are away on vacation. Tell those trusted neighbors to be on the lookout for any suspicious activity and to call the authorities if necessary.

Protect Sliding Doors With This Simple Trick

Before heading off on vacation, you should safeguard the sliding glass doors in your home by putting something like a metal rod in the track. This way, thieves will not be able to force the door open.

Vacations are a time to unwind and to have some fun. However, responsible homeowners will do what it takes to make their residence less attractive to would-be thieves while they are away.

For more information on how to safeguard your home, or to get answers to your pressing real estate questions, contact your trusted real estate professional for prompt and practical advice.

What Is The Impact Of COVID-19 On Home Value?

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What Is The Impact Of COVID-19 On Home Value?It is no secret that the COVID-19 pandemic has had an impact on everyone; however, there are a few impacts that are being overlooked. In addition to the public health crisis and the tanking of the stock market, there are also impacts of the virus on people’s home values.

Some of these impacts have been positive while others have been negative.

Regardless, it is important for everyone to understand how these impacts might impact someone’s home value, particularly for those who are looking to buy or sell a home in the future.

The Dropping Rates Of Mortgages

Because of the shelter in place laws surrounding the COVID-19 pandemic, not many people are looking to move right now. As a result, banks have had a hard time getting people to come in and sign up for loans. 

This means that many people who are looking to buy a home might be able to sign up for a loan at a very low cost. This might open the door for someone to buy a bigger home than they might have been able to during less turbulent times.

The Impact On Sellers

As a result of the low-interest rates from the COVID-19 pandemic, this also means that sellers should anticipate getting a large number of offers for their homes. There are still many people who are hesitant to sell a home in this environment. This means that there might not be many options on the market. For those who decide to take the plunge, they might be rewarded with more offers than usual. This is going to drive up the value of their home, which is good for their next purchase.

The Future Of The Market During The Pandemic

These are just two of the many ways that the COVID-19 pandemic has impacted the value of homes. While it is unclear when this pandemic is going to be behind us, it is important for everyone to understand how the pandemic is going to impact them if they are looking to buy or sell a home. This will help everyone make the right decision during a turbulent time.

Get Your Finances In Order With A Few Simple Steps

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Get Your Finances In Order With A Few Simple StepsIf you are looking to buy a home one day but don’t think you are ready just yet, you are not alone. One of the most important tasks that you have to complete involves getting your finances in order.

There are a few ways to get your finances in order before you buy, no matter how long you have been waiting to buy a home. Getting your finances in order with these simple steps can help you become a more competitive applicant both for a mortgage and a home that is on the market.

Focus On Your Credit Score

While it is true that your credit doesn’t have to be perfect in order to get a home, a strong credit score will increase your chances of getting approved. In addition, a great credit score can also help you get a lower interest rate on your mortgage.

Some of the ways that you can improve your credit score include disputing errors that might be on your report, reducing your debt, producing a long track record of on-time payments, and avoiding late payments. All of this will help you get ready to apply for a mortgage.

Open A Bank Account For Homeownership

The cost of a home is far more than a down payment and mortgage bills. The reality is that owning a home comes with a variety of expenses for which you must be prepared. Therefore, it is a prudent idea to open a bank account that is solely for homeownership expenses. This account should contain a variety of funds including those for utilities, maintenance, landscaping costs, and even renovation expenses. This will help you visualize the amount of money that you have set aside.

Calculate The Budget

Finally, it is also smart to calculate a budget for the home. Some of the factors that are going to play a role in the sticker price of a home include the down payment, closing costs, and potential taxes. For help with this calculation, it is a smart idea to meet with a trained mortgage professional.

Prepare To Buy A Home

These are a few of the steps that you should follow to get your finances in order. These steps will make you a more competitive applicant for a mortgage.

4 First Things You Should Do After You Move In

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4 First Things You Should Do After You Move InCongratulations on moving into your new house! But hold on. Now that the house is yours, there are a few things you will want to do in order to make life in your new home more comfortable and secure. Before you plan your housewarming party, here is a list of the first things you should do after you move in.

1. Change The Locks

As the new homeowner, you have no way of knowing how many others have keys to your new home. The previous owner may have made copies for their housekeeper, their parents, the babysitter, a neighbor, or anyone else. You definitely don’t want anyone else having keys to your home. Have a locksmith come in and change all the locks. The investment will help you sleep soundly.

2. Find Out Your Boundaries

Check in with town hall to see if there are documents on file that lay out the boundaries for the land you just purchased. If not, consider having a land surveyor come out to mark the boundaries around your new home. This will ensure that you don’t accidentally do things that encroach on your new neighbor’s land, such as planting trees or flowers, erecting a fence, or setting up a swing set.

3. Introduce Yourself To The Neighbors

Pencil in a day to go around and meet your new neighbors. Don not wait too long to do this; the longer you wait, the more awkward it becomes. In theory, they should be introducing themselves to you, but these days you could be waiting a long time for an apple pie to show up at your door. Just wait for the weekend and give a light knock on the doors on your street. Your neighbors will appreciate the gesture and you might just meet a new friend.

4. Make A House Map

A house map is just a general layout of where all the important fixtures are. The map should include the furnace, all outdoor spigots, the main water shut-off valve, the septic tank lid cover (if applicable) and the circuit box. Finally, invest in some fire extinguishers and mark their locations on the map, too. Have it laminated and put it someplace where all the family members can access it.

Once you take care of these four things, you willll feel better knowing that you’ve done all the necessary chores. Now, just sit back and enjoy your accomplishment!

 

How to Purchase A Luxury Home Without Up-sizing Your Costs

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How to Purchase A Luxury Home Without Up-sizing Your CostsSize matters when you are buying a new home. Whether you plan to expand your family, need more room for your stuff, or are concerned with resale value, you want to get the most space for your money.

Also, if you want to add a feel of luxury to your home, one of the best ways to do it is to create open spaces rather than cramming all your furniture in rooms so tiny you can barely walk around without knocking something over.

Traditionally speaking, the larger a home is, the more it costs. If there are two newly built houses side by side in a subdivision, the bigger one is likely to cost more. However, there are some tricks to finding spacious houses that are affordable.

Choose Emerging Neighborhoods

Houses in this year’s trending neighborhood are at their peak prices. Clever buyers look for neighborhoods that are in the process of being gentrified, buying at the bottom rather than the top of the market, to get more house for their money.

Fix It Up

Houses in perfect condition, that show well, sell for a premium. If you want to get more house for your money, choose something that needs a bit of TLC. A house that has pink walls and orange shag carpet might appear just too ugly to consider when you first view it, but it might just need a few coats of paint and some new carpet to become a spacious dream home.

Do Some Finishing

Unfinished areas such as attics and basements can be finished to create additional living spaces. The basement could become a family room and the attic an extra bedroom or study. An unfinished space can become the extra bathroom you need to make morning more manageable.

Consider an Addition

Contractors can add rooms to a house. If you have a large lot, you can build an extra wing. With a one story ranch house, it may be possible to raise the roof and add a second story.

The more stuff you have, the smaller your home appears. Reduce clutter and invest in smaller condo size furniture to give even the smallest home the appearance of spaciousness.

Three Key Tips for Assessing Value To Find Out How Much Your Home Worth in Today’s Market

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Three Key Tips for Assessing Value To Find Out How Much Your Home Worth in Today's MarketIf you’re thinking about putting the house on the market, or are simply curious about its value in the current economic atmosphere, it’s essential to get an honest assessment of its value. An overly inflated figure won’t hold up and will only turn potential buyers away.

It’s best to get a fair assessment in order to ask a reasonable price or avoid over-extending oneself when it comes to taking out a home equity loan. Consider these three key tips to get a true assessment of a home’s value.

Identify Positive Features About The Home And Property

When seeking an appraisal for a home, it’s important to look at the big picture. While the neighborhood and specific location are important, as well as the size and condition of the home, it’s also essential to tally up any improvements or upgrades. Any recent renovations are a plus that are sure to give a boost to a home’s value.

Outbuildings and swimming pools add more positives that will increase the initial value of a home. The most important thing any homeowner can do is to stay on top of repairs and give the property a facelift periodically to keep things fresh. This will be taken into consideration during an appraisal.

Pay Attention To The Competition

Whether homeowners try to estimate their home’s value on their own or bring in the professionals, it’s important to pay attention to the surrounding real estate. Take a close look at other properties in the area and their price tags when they come up for sale. It’s especially helpful to look at properties that compare in size and condition. From that point, the most expensive and least expensive homes should be tallied as well, providing a price range for the concerned individual’s home.

Think About Present Circumstances

Be sure to consider if the area is in a recession or showing a period of strong economic growth. If a home is located in an area that is booming, this will inflate the value of the home. It is all part of the law of supply and demand. When buyers are coming in droves, home sales will be ripe for the picking and homeowners can ask a higher price.

However, if the population is dwindling and people are migrating elsewhere because job opportunities have fallen, there is a much greater chance that the home’s value will decrease. For those who want to sell, the best bet is to strike when the iron is hot and put the house on the market during a period of economic strength. If the economy is failing, it may be necessary to wait or cut ones’ losses.

Act Now To Learn More

There is no better time than the present to contact a name you can trust in real estate. Discover all the ins and outs of assessing your home’s value, discuss your options, and find out ways to boost your property’s potential as you seek a reliable assessment.

It Is Tax Time Again Learn About Tax Deductions and How to Write off Your Home Mortgage Interest

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It Is Tax Time Again Learn About Tax Deductions and How to Write off Your Home Mortgage InterestMuch to the frustration of taxpayers all over the country, the tax-filing season begins in January and runs through April 15 of each year. The year 2020 brought us many changes, including an extension on filing taxes. Taxes this year are due on July 15th. Are you ready?

As the current tax season approaches, it presents an opportunity to help tax-payers clarify their responsibilities and remind them of certain important tax deductions that may be available.

Filing Responsibilities

Every person in the United States is required to file their tax returns by July 15 so long as they have some form of qualifying income. Based on filing status, income and available deductions, tax-payers must file a 1040EZ, 1040A or 1040 (long-form for itemized deductions).

Qualifying income is generally defined as, but not limited to wages, commissions, miscellaneous income (rental, interest), investment income and alimony. These forms of income are reported on a periodic basis to the IRS and State governments by employers, banks, contract employers and/or other responsible parties.

The most common tax receipts that must be sent to tax-payers by January 31 are W-2s and 1099-Misc forms.

Calculating Taxes

While the IRS requires individuals to report all forms of income, they also allow certain living costs to be used as deductions to offset income in order to arrive at a “taxable income” number on which tax liabilities are calculated.

If a tax-payer’s deductions fail to exceed the combined statutory standard deduction,, they will want to file the 1040EZ or 1040A. If itemized deductions exceed this number, the 1040 becomes preferable.

Mortgage Interest Deduction

For a majority of tax-payers, the largest tax deduction available is usually mortgage interest paid on secured debt where the primary residence and in some cases second homes or rental property serve as collateral. In most of these cases, all interest paid during the year is deductible.

If the mortgages are large enough, the total interest paid will typically push the tax-payer into position to itemize deductions. It is important for tax-payers to read the rules related to mortgage interest deductions as they tend to be somewhat complicated.

Other Important Deductions to Consider

Once a tax-payer qualifies to itemize deductions, many other living expenses become deductible. Other prominent deductions include property taxes, charitable contributions, childcare costs, qualified moving expenses, certain work related expenses and certain medical expenses.

Prior to using any deduction, it is incumbent on the tax-payer to review deduction guidelines in order to determine applicability.

Routine Maintenance Of Various Systems In Your Home

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Routine Maintenance Of Various Systems In Your HomeWhen you are a new homeowner, learning about your property can feel overwhelming. There are a number of systems in your home that require routine maintenance.

Knowing when to have system serviced will help keep your home running smoothly. From the plumbing in your home, to the heating and cooling, understand that each system may need routine maintenance from time to time. 

Your Heating And Cooling System

To maintain comfortable air temperatures in your home, it’s important to keep your heating and cooling system up-to-date. If you have a whole home system, it should be serviced once before the heating season and once before the cooling season.

When you get filters changed, and your system serviced, you are less likely to have to deal with emergency repairs. In addition, your HVAC system will run more efficiently.

When You Have A Septic System

Waste water leaves your home either through the town sewer system or through a septic tank. If you have a septic system on your property, you need to have the system serviced every other year. Check the records of your septic system to see when it was serviced previously.

Address Plumbing Issues

A leaky faucet is a localized problem, while discovering that all of the drains in your home are draining slowly is systemic. You need to repair small leaks to avoid wasting water in your home, while systemic problems must be addressed by a professional.

If your drains aren’t working correctly, you may have a block in your main sewer line. Know where the main shut off valve is for the water coming in to your home in case of an emergency.

Electrical Needs In Your Home

Your home has an intricate electrical system that is controlled by an electrical panel usually located in your basement. When a circuit trips, you will need to reset the circuit breaker. If your home consistently has problems with a specific circuit, you’ll want to have the circuit checked by an electrician to see if it is overloaded.

It’s exciting to own a home for the first time. Once you understand the various systems in your home, it becomes easier to take care of your property. With good maintenance, you can help avoid emergency repairs to your home.

Your heating and cooling will be more efficient, and you won’t run in to problems with your septic system if you have one. If there is something you don’t understand in your home, call a professional to get the problem looked at.

Spring Is Real Estate’s ‘Rush Hour’ — Here’s How to Tell If You’re Prepared

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Spring Is Real Estate's 'Rush Hour' -- Here's How to Tell If You're PreparedThe most popular time of year to buy a home is in the spring, and this means that if you’re preparing yourself for getting into the real estate market, you may be experiencing a time crunch. If you’re wondering if you’ll be ready to put your home up for sale in time to take advantage of the season, here are few things you’ll want to think about.

Have You Cleaned Up And De-cluttered?

Spring is not only an optimal time to put your home up for sale, it’s also an ideal time for spring-cleaning! Instead of leaving all of the de-cluttering and clearing away to the time when you know you’ll be moving, get prepared by going through your stuff and discarding anything that you don’t want to move. This will not only make the packing up procedure more streamlined, it will also make the basic cleaning duties like vacuuming a dusting a little easier to carry out.

Are You Prepared To Move?

A home can sit on the market for a few weeks or months, and it can also sell on the first day, so you’ll want to have a game plan for moving beforehand. If you don’t yet have a place to stay, determine a plan for yourself and your family so that you can start looking for a home to invest in or at least rental property. You don’t want to lose out on a good offer by not being prepared, so make sure you know where you’re going before getting into the market.

Do You Know The Market Conditions?

Spring is certainly the most popular time to buy, but if your home isn’t priced right for the conditions of the market, it may linger longer than you’d expect. If you’re selling on your own, you may want to take a look at the MLS listings to determine what similar homes in similar areas are selling for. It can also be a great idea to utilize the services of a local real estate agent who will have background knowledge of the market and be able to do the tough negotiating for you.

With spring being the best time to sell, it’s important to de-clutter your house ahead of time and be aware of the market conditions you’ll be dealing with. If you’re about to put your home up for sale, contact your trusted real estate professionals for more information.

3 Ways That Buying or Selling a Luxury Home Is Different

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3 Ways That Buying or Selling a Luxury Home Is Different From a Regular OneSelling a standard home is fraught with enough concerns about marking it at the right price and staging it properly, but it’s an entirely different ball game when it comes to luxury property. If you’re planning on selling your high-end property and are trying to determine what sets it apart from the average home sale, here are some things to consider before putting it on the market.

The Price Must Be Reasonable

It’s important for the asking price on any home to show an awareness of market conditions, but when it comes to luxury, it becomes even more important. Most luxury homes are going to sit on the market for a longer period of time than a less expensive home because there are fewer potential buyers. In order to facilitate a successful sale, it’s necessary for the asking price to be competitive and in line with the amenities provided so that buyers won’t flock to other opportunities.

Use The Right Marketing Tools

With so many available methods to sell a home nowadays, it’s never been easier to get the word out that you’re selling your home. However, if the asking price is higher it’s imperative that the property is displayed in the right light. When it comes to a luxury property it’s worth having an agent who knows the market and the neighborhood well. They will be able to display your home at its most ideal by creating a website with enticing photography and details to showcase all of your home’s best attributes.

What Are The Market Conditions?

It’s difficult to time the market, but when it comes to the impact economic times can have on a luxury home sale, it’s even more important to be aware of prices. Not only will you want to be aware of the amenities your home has and how much more desirable they’ll be at certain times of the year, you’ll also want to be sure that the market is on an upswing. A market that is on the rise can make a significant difference on the offers you’ll get.

There are many factors involved in putting your home on the market, but when it comes to luxury real estate it’s important to time the market and ensure your asking price is spot on. If you’re currently preparing to put your luxury home on the market, you may want to contact one of our real estate professionals for more information.