Interest Rate Hiked

The Federal Reserve on Thursday raised a key interest rate for the 17th consecutive time but signaled that any further rate hikes would depend on economic developments.

The Fed's rate hikes have raised the borrowing costs for millions of Americans on everything from home mortgages to auto loans.

If you are in the market to buy a home and want to know what this rate hike means to you, contact us or visit our website. We're glad to put you in touch with a well qualified, experienced and knowledgeable loan officer.

Small Kitchens Aren't Always a Bad Thing

Buyers who immediately disregard homes with small kitchens may be severely limiting their options. After all, small kitchens don’t have to be cramped; they can be comfortable and efficient. Here are some tips for making the most of the space from Tampa, Fla., interior designer Jay Tenuta, owner of La Bella Interiors.

1. Buy a 24-inch deep refrigerator instead of the standard 30-inch one.

2. Add glass-fronted door to cabinets. They create the image of greater space. If that's too expensive, open shelving is another alternative that will give an open, airy look.

3. A fold-out table provides a breakfast nook, then disappears when it isn’t needed.

4. Don't use the tops of your cabinets for decorative display when you can use them for storage. Affordable baskets and boxes are a perfect option.

5. Create an island on casters that wheels out of sight when it’s not needed.

6. Surf the Web for space-saving ideas. For example, Ikea.com provides kitchen planning ideas, storage containers, and furniture made specifically for small spaces.

Source: St. Petersburg Times, Elizabeth Bettendorf (05/26/2006)
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Thinking of buy or selling a home in Montgomery? Visit my website to view all local real estate listings or do get a Free home evaluation.

Apartment Rents Increase In 2006

The National Association of Realtors is predicting a 5.3% increase in rents this year. This is more than double the 2005 increase and the largest increase since 2000.

The only way to control your housing budget is to own your own home and not be at the mercy of your landlord. Home prices continue to rise, but buying at today's prices is an investment in your future. Montgomery is seeing double digit appreciation which you can only benefit you if you own your own home. A mortgage payment is investing. A rent payment is throwing money away.

We would be glad to show you a rent vs. buy comparison, so you can determine if buying a home is the right decision for you. So, contact us, today!

Who Needs A Survey?

A property survey is a map of a property showing where structures, easements and boundaries are located. To most buyers, being required by the mortgage company to have an updated survey for closing just seems like a waste of money. And, who wants to spend more money than absolutely necessary?

But, a survey is like insurance. The chances of you ever really needing it are slim, but if you ever do need it, you will be glad you have it. CNNMoney.com has a great article about folks who wished they had a survey. Be sure to take a look.
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Thinking of buying or selling a home? Visit our website. Here you can look at all homes listed for sale in Montgomery and get a Price Valuation.

What Is A Contingency Contract?

Buyers walk into your home and fall in love with it. There is one problem--they have to sell their home before they can buy yours. Their offer to purchase your home contains a "contingency clause" which makes the purchase dependent upon, or contingent upon, selling their present home. Should you accept a contingent offer?

Your decision should be based on several factors.

1. Is their home being professionally marketed at this time, or are they trying to sell it themselves? How long has it been on the market? Is it overpriced? What are the average market times in their neighborhood?

2. If the house doesn't sell in a specified time period, can the buyers take out a bridge loan or make other financial arrangements to get to the closing table?

3. How important is timing for you? Are you on a time schedule to relocate to another city or are you flexible?

4. Will the buyers agree to let you continue marketing your home and accept a non-contingent contract (and void theirs) if their house does not sell?

Contingent contracts often work out well, but you need the help of a professional to weigh the pros and cons. So, contact us. We are pleased to be able to help and will provide you with top-notch service!

Painting Tips

Tis the season for do-it-yourself projects. The honey-do- list at our house is a mile long and I am always looking for a way to make the job I am tackling easier. Sam Miller, an excellent Realtor in Mount Vernon, OH has a post with interior painting tips. If painting is on your list of projects, take a look.
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If you are thinking of buying or selling a home, visit my website. Here you can view all local real estate listings.