curry blog.

FHA LOAN LIMITS REINSTATED

Congress recently approved restoring FHA’s previous loan limits through 2013 at 125% of local area median home prices up to a maximum of $729,750 in the highest-cost markets. Those limits previously expired September 30. Continue reading FHA LOAN LIMITS REINSTATED…

Grandma Would Be Proud

According to the NAR Housing Affordability Index, housing is at its most affordable in a generation. More specifically, the index shows there hasn’t been a better home buying opportunity in 40 years. Continue reading Grandma Would Be Proud…

INCREASE YOUR HOME’S VALUE AND APPEAL WITH THESE INEXPENSIVE DO-IT-YOURSELF PROJECTS

With the increase of homes currently on the market, it is so important to make your home stand out from the competition if you’re trying to sell.  It’s not just about location, square footage, or the number of bedrooms and baths.  If the house doesn’t show well, it doesn’t stand much of a chance in today’s market.

Here are some inexpensive DYI projects that made HomeGain’s list, and the estimated increase to the home’s price at resale for each project. Continue reading INCREASE YOUR HOME’S VALUE AND APPEAL WITH THESE INEXPENSIVE DO-IT-YOURSELF PROJECTS…

It’s Tax Season: Don’t Forget Your Residential Energy Tax Credits

For several years now, the government has been offering tax credits as a way to encourage home owners to become more energy efficient.   Consumers who purchased and installed specific products such as energy-efficient appliances, windows, doors, roofs, insulation and heating/cooling equipment, during 2010, may be eligible to receive a tax credit for 30% of the cost, up to $1,500.  The improvements must meet the energy-efficient standards set by the IRS, and the home which received the upgrades must be an existing primary residence.   It is always best to consult with a tax advisor to ensure you receive the full credit to which you are entitled.  If you prepare your own tax return, make sure you complete Form 5695 properly.  See EnergyStar.gov for a complete summary of energy efficiency tax credits available.  You can also find information through the Department of Energy.   

Since purchasing and installing your energy-saving products, you’re being back with lower energy bills.  By taking advantage of the Residential Energy Tax Credit, Uncle Sam will pay you back some too.

HOUSING MARKET UPDATE

This blog entry is to answer what has become a popular question directed to the real estate agents here at Curry Real Estate:  “How’s the real estate market doing?”

Home sales reached a peak back in 2007, and shortly thereafter, started its downward spiral nationwide.  Here in the Heart of Georgia, the housing market hasn’t suffered to the extent larger cities have but, it has been in a decline; there’s no denying it.   We’re fast approaching the end of 2010, and home sales this year have been intermittent, and that’s okay.  Recovery will not be overnight.    National Association of REALTORS® chief economist, Lawrence Yum, recently stated “A housing recovery is taking place but will be choppy at times…”  He went on to say, “the overall direction should be a gradual rising trend in home sales.”    

The decline in the housing market won’t last forever.  Recent national press reports are letting people know that it’s a great time to buy a home because of the strong buyers’ market especially for families ready to settle down.  The savings today’s buyers are receiving are not a one-time benefit.  Fixed rate mortgages are staying around 4% for 30 year conventional.  Buyers with super-low fixed rate mortgages like this will save money every year they are living in their home.   Buying a home during this time will  be a tremendous investment and can help build wealth over the long-term.   Knight Kiplinger, Economic Journalist, stated in a recent column, “With your expectations duly tempered…go ahead and buy.  In a few years, you just might be pleasantly surprised.”   We could not have said it any better.

For more information or to see available houses for sale, please call one of our REALTORS®, at 478-272-2335, or visit CurryRealEstate.com.

THINGS HAPPEN! ARE YOU COVERED?

The single best way to protect your investment in your home is by owning a homeowner’s insurance (HOI) policy.  Let’s take a look at the 4 main categories of coverage that normally appear in a HOI policy.

Dwelling.  The most effective type of coverage for the home in which you reside is replacement cost coverage.  Payment based on the replacement cost is usually the most favorable figure from your point of view because it compensates you for the actual cost of replacing property. The key to determining how much dwelling coverage you need isn’t the value of your home but rather the money you’d have to pay to rebuild it. 

Other Structures.   Examples of other structures covered by HOI would be a detached garage, workshop, storage building, barn, etc.   Your policy covers all of the other structures that might be located on your property besides the home itself.  The same coverage rules apply here as the dwelling insurance – the total amount of coverage should be high enough to rebuild the entire structure if completely lost. 

Contents.  In the case of the contents, an inventory of items room by room is important to have with information such as the date purchased, serial number, the original cost of each item and a brief description. Video tape or still photos is very helpful along with the inventory. These items should be stored in a safe place such as a safety deposit box in a bank and not in the home.  Limitations are normally set for high-cost items such as jewelry, fine art, furs, electronics, collectibles, oriental rugs and antiques. If a thief comes in and steals a two-carat engagement ring, it may not be covered well enough without a personal property rider to cover specific, costly items.

Liability.   As a homeowner, you automatically assume some responsibility for what happens in and around your home.  Homeowner’s liability insurance provides for protection in the event someone gets hurt or property is damaged.  In case of either event, or a combination of the two, you are at risk of severe financial loss as a result of being found liable. In addition to covering medical expenses or cost of repairs, the liability part of your HOI usually pays for court costs should a lawsuit arise.  Don’t skimp on your liability limits!

It’s a good idea to read your policy and become familiar with what is covered and is not covered.  You may be pleasantly surprised to find that a policy covers you for more things than you originally thought.

If you have a question about your homeowner’s policy or would like a free quote, call Lee Newsome, Personal Lines Agent, at Curry Insurance Agency– 478-272-2335 or toll-free 800-596-5664.

A LITTLE SOMETHING ABOUT HOME INSPECTIONS

You’ve found a house you’d like to purchase and perhaps are wondering if you should have it inspected.  Everything you see as you walk through and around the home looks great, but what about those items not so visible?     

The purchase of a home is the single largest investment most people will make, and having a thorough home inspection will make you aware of the true condition of the house you are considering to make your home.   If you’ve ever purchased a used car, more than likely you took it to a mechanic to have it checked out before you handed over any money for the car.  So, why not check out a house which has a lot more things to inspect?  

You can expect to pay $300 to $400 for the inspection.  The cost, however, will vary depending on the age and size of the home.  The inspector will evaluate items such as the roof and other structural items, mechanical, plumbing, and electrical systems.    A thorough home inspection will take an average of 3 hours; again, it depends on the age and size of the home.   Although you will receive a detailed report on the findings, it’s a good idea to be present during the inspection to get a better understanding of the inspector’s observations and have an opportunity to ask questions. 

Most often it’s a buyer who hires the inspector, but it’s also a great idea for a seller to have a pre-listing inspection performed.  This gives reassurance to both seller and real estate agent that the house they are preparing to put on the market has no surprises awaiting them later, and may also eliminate last-minute negotiations regarding a sale when a buyer uncovers a needed repair.  

For more information on home inspections and a list of certified home inspectors, ask a professional real estate agent with Curry Real Estate.  You can also find a list of home inspectors on CurryRealEstate.com under the Helpful Links section.

The Heart of Georgia is The Place To Be

What’s so great about living in the Heart of Georgia area?  Most of us who have the privilege of living here will say it’s the people.  That’s right; good ole Southern Hospitality at its best! 

But that’s not all there is to appreciate . . . There are 12 counties that make up what we refer to as the Heart of Georgia.  They are: Laurens (Dublin), Bleckley (Cochran), Dodge (Eastman), Emanuel (Swainsboro), Johnson (Wrightsville) Telfair (McRae), Treutlen (Soperton), Montgomery (Mt. Vernon), Twiggs (Jeffersonville), Wheeler (Alamo), Wilkinson (Irwinton), and Washington (Sandersville).  And Curry Companies has listings throughout the Heart of Georgia.  

Continue reading The Heart of Georgia is The Place To Be…

Internet is #1 Source for Homebuyers

According to the National Association of REALTORS®, close to 90% of prospective homebuyers begin searching for a new home using the Internet.  To meet that demand, Curry Residential Real Estate has created a website with all of the information buyers need to begin the process of finding their dream home.  Hundreds of detailed listings and virtual tours, thousands of photos and easy-to-use tools such as mortgage calculators and interactive maps are all just a click away; and homebuyers have access to the most professional Realtors® in the business.  

Visit CurryResidential.com and sign up for our Auto Home Finder search service.  It’s quick, easy and free!  Let us know what you’re looking for in a new home, and we’ll send you regular emails of home listings that meet your specific needs.  Or contact one of our Realtors®.  Whether you’re buying your first home, up-sizing or down-sizing, the professional Curry Realtors® will help you find the home that will match your lifestyle and personality.

Save Time and Hassle: Get Pre-Approved!

So you’ve decided to stop paying rent, or perhaps you still live with your parents and have decided it’s time to leave their nest and start your own.  The best place to begin is by examining your finances.   When you have your financing arranged before you start looking for your home, you can save yourself a lot of time and hassle.  

First: take stock of your income and expenses, both current and projected, to get an idea of what you think you can comfortably manage to pay each month. 

Second: shop for your loan.  Check with local banks and/or a mortgage broker. You should compare interest rates, broker fees, points, prepayment penalties, loan application fees, etc.  After you’ve decided which mortgage “store” you want to use, ask to be “pre-approved. ”

Now that you’re approved for your home loan, call a REALTOR(R) and go shopping at CurryCompanies.com.