Need To Come Up With A House Down Payment Fast? Try Tapping These Resources

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down payment assistance, down payment help, down payments, Jacksonville Real Estate, real estate, real estate advice, real estate consultant, real estate information, real estate jacksonville fl, Real Estate Team, real estate tips, The best real estate agent in Jacksonville

Ideally, when you’re ready to buy a home, you’ll have spent a significant amount of time socking away money for your down payment. But sometimes, you find your dream home earlier than expected—and you need a way to come up with some extra cash for the down payment, fast.

So, the question is, if you find yourself in that situation, what options may be available to help you get the cash you need to buy your home?

A recent article from realtor.com outlined speedy ways to come up with a down payment, including:

• Your 401(k). Most 401(k) plans allow you to borrow against the balance—often up to 50 percent of the balance or $50,000. Generally, you can access funds in about a week—but keep in mind that if you withdraw funds from your 401(k) early, you may have to pay a penalty and those funds will be counted as gross income, and it can also have tax implications. 
• Your IRA. Generally, withdrawing funds early from your IRA carries the same penalty as withdrawing from your 401(k)—but that penalty is waived for first-time home buyers. So, if you have a balance in your IRA and you’re buying a home for the first time, it’s a better resource to tap for your down payment.
• Explore down payment assistance programs. Certain cities, states, and local nonprofit organizations sometimes partner with banks to offer down payment assistance. If you need help getting the cash for your down payment, do your research to see if there are any local programs you qualify for.

The Takeaway:

Bottom line? You should definitely invest time into saving for a down payment—but if you need a bit of extra cash (and quickly), these resources can be a great way to get the funds you need to buy your home. But, since many of these options may have tax or financial implications, you should consult with your accountant or financial advisor before doing so.

Need more tips or are you ready to get started on your home search? Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 HanleyHomeTeam.com

These Are the Pandemic’s Most Popular Home-Related Purchases

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home improvement, home improvement tips, home improvements, Jacksonville Real Estate, real estate, real estate advice, real estate consultant, real estate information, real estate jacksonville fl, Real Estate Team, real estate tips, The best real estate agent in Jacksonville

The COVID-19 pandemic has forced many of us to spend more time at home than ever before—and, for many homeowners, all that extra time at home has translated to extra spending.

A recent survey from Cinch Home Services found that more than half of the 1,000+ homeowners surveyed (52%) spent more on their homes since the pandemic hit—$1,329 on average.

So what, exactly, did homeowners spend on during the pandemic? Top home-related purchases included:

• Furniture (54 percent)
• Appliances (48.5 percent)
• Decor (47.1 percent)
• Home improvement tools and products (44.3 percent)

Homeowners cited a variety of reasons for increasing their home spending during the pandemic, including improving home comfort (57.2 percent), modifying home atmosphere (37.9 percent), and improving home organization (29.8 percent). 

The Takeaway:

So, what does this mean for you? If you invested in your home during the pandemic, you’re not alone. Lots of people weren’t just spending more time in their home, they were also spending more on their home. If it made the experience of lockdown more tolerable and comfortable, it was money worth spending.

Ready to find out what those improvements did for your home price? Get in touch today for a FREE market analysis of your home. Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty 904-515-2479 HanleyHomeTeam.com Team@HanleyHomeTeam.com

The Pros and Cons of Building a Home

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buying new construction, Buying new construction; working with a real estate agent; Buying from a builder; negotiating with a builder; having someone on your side, real estate, real estate advice, real estate consultant, Real Estate in Jacksonville FL, real estate information, real estate investments, Real Estate Team

A lot of people dream about building their own home from the ground up. But do the benefits outweigh the challenges?

A recent article from realtor.com outlined the pros and cons of building your own house (versus purchasing an existing property), including:

• Con: It’s generally more expensive. Building a home typically costs more than buying an existing home—so if you want to build a home, you’ll need a bigger budget than if you were to buy an existing home of a similar size.
• Pro: Less maintenance. When you build a home, everything is brand new. That means you’re much less likely to have to deal with any significant maintenance or repair issues in the early years of living in your home—which can save you time, money, and frustration.
• Con: More time-intensive. Depending on the size and complexity of the home, building a house could take anywhere from months to years. Home builds are also notorious for running into delays and taking longer than the builder or homeowner originally anticipated—and waiting that long for their home to be move-in ready just isn’t feasible for some people.

The Takeaway:

What does this mean for you? Building a home is a big decision. There’s no right or wrong decision, but if you’ve been thinking about building your own home, it’s important to understand both the benefits and the drawbacks—so you can make the best decision for you.

Interested in building a home? Get in touch today and let’s see if it’s the right decision for you! Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2700 HanleyHomeTeam.com

Before Taking on a Fixer-Upper Right Now Consider These Current Issues

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DIY, real estate, real estate advice, real estate consultant, Real Estate in Jacksonville FL, real estate investments, Real Estate Team, real estate tips, reputable contractors; fixer-upper; contractors; do-it-yourself; investment property; home renovation project

With the inventory of homes so low, some buyers are binge-watching HGTV and beginning to consider buying a fixer-upper. Fixing up a property can be a fun, fulfilling experience for many homeowners. But fixer-uppers can be challenging in the best of times—and with some of the challenges in today’s market, this doesn’t exactly qualify as “the best of times.”

A recent article from realtor.com outlined some of the reasons why now might not be the best time to buy a fixer-upper property, including:

• Material costs are high… The pandemic has created a high demand for home renovations, which has sent the prices for materials through the roof, doubling—or even tripling—in many cases. So, the renovations that you need to make on a fixer-upper property? They’re likely to cost significantly more than they would have at this time last year.
• …and crews are busy. The demand for home renovations also has many contractors booked out for months—which means that, if you buy a fixer-upper, you could have to wait a significant period of time to start tackling projects.
• There’s a higher risk for issues. Any property could have issues you don’t notice on your initial viewing—but the risk of safety, environmental, or inspection-related issues is much higher for older homes that need a lot of work.

The Takeaway:

Bottom line? There are definite challenges associated with buying a fixer-upper in today’s real estate market—and buying a new construction or a newer home with fewer necessary repairs is probably going to be a safer bet. But if you’re set on making a fixer-upper purchase? Talk to your real estate agent (us!) as we can help you better understand the challenges associated with buying a fixer upper—and help you get a plan in place for navigating those challenges. Kevin and Jennifer Hanley, REALTORS http://www.HanleyHomeTeam.com The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside

Relocating far away? These Are The Must-Know Mistakes To Avoid

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Buying a home, Home buying strategy, Jacksonville Real Estate, real estate, real estate advice, real estate consultant, real estate information, real estate jacksonville fl, Real Estate Team, real estate tips, relocating, relocation, The best real estate agent in Jacksonville, tips on relocating

COVID-19 has caused many people to reevaluate their living situations—and, as a result, many of those people are planning to relocate to an area that better suits their needs.

Relocating is always a process—but if you don’t do it right, that process can quickly become stressful and overwhelming.

But how, exactly, do you do it right? What mistakes do you need to avoid to ensure the relocation process goes as smoothly as possible?

A video from realtor.com outlined the key mistakes to avoid when relocating to a new area, including:

• Listing your home before you know where and when you’re relocating. Homes are selling extremely fast in today’s market—so before you list your home, you’ll want to have clarity on where and when you’re relocating.
• Not researching your new area. Every area is different—and before you decide to relocate, you need to know that your new area has the amenities and features that you’ll need. For example, if you have children, research the schools and childcare options before you commit to moving to a new town or city. If you’re planning to work from home, make sure the neighborhoods you’re considering have high-speed internet so you can do your job effectively.
• Expecting your belongings to arrive and be available immediately. If you’re doing a long distance relocation and shipping some of your belongings, there could be delays—so if you know you’re going to need an item, make sure to keep it with you and transport it yourself.

Getting Home Insurance Right

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HOMEOWNERS INSURANCE FEELS LIKE A “NECESSARY EVIL.” BUT IT DOES SERVE A SAINTTLY PURPOSE—TO PROTECT YOU. SINCE YOU HAVE TO PAY IT EVERY MONTH, THE TRICK IS TO PAY AS LITTLE AS POSSIBLE FOR AS MUCH COVERAGE AS POSSIBLE. HERE’S WHAT TO LOOK FOR.

If you own a home free and clear, you are not required to have homeowners insurance (also called hazard insurance). But if you have a mortgage on the property, your lender will require you to carry it. Here’s how to get quotes to compare prices and coverage.

What is a homeowners insurance quote?

A quote is an estimate of the price you’ll pay for a policy. It’ll be given to you either as a yearly, 6-month, or monthly amount. Make sure you’re comparing apples to apples when looking at different quotes. 

A quote will be based on the size of home, location and likely replacement value of the home, condition you want to replace it to, how far it is from a fire house, etc. 

Each company uses its own formula to calculate house insurance quotes, so prices can vary widely. You boost your chances of finding the best rate when you compare homeowners insurance rates from several companies. Get at least three quotes! The rate and amount of coverage can vary by hundreds of dollars.

A quote is only an estimate at the time it’s given. The actual amount you’ll end up paying will not be determined until the policy is issued. It’s usually close to the quoted amount, though.

Who gives homeowners insurance? 

Many companies, including the companies that you might already be insuring your car with. Examples include USAA, Farmer’s, State Farm, Travelers, Wawanesa, Desjardins, Allstate, and many others. 

What do you get from having homeowners insurance? 

Protection in case of damage or loss. These amounts can vary! These are broad averages only. If you get three different quotes, you’ll begin to see what kind of coverages are available for your property and can compare. For instance, if two quotes are similar, but one offers $8,000 of additional living expenses in case of a claim, and the other offers only $6,000, then the first might be a better policy for you (if all other factors equal).

How your price can change…

In addition to the standard coverages shown above, you’ll also need to make choices when you compare home insurance quotes. These choices will affect your price, so make sure you use the same choices when comparing different policy quotes. 

Your deductible. This is the amount you pay out of pocket, before the insurer will pay anything per claim. It’s typically $500 to $2,000 per instance. Choosing a higher deductible will lower your monthly premium payment. If you choose a higher deductible, make sure you can afford to pay that deductible.

Earthquake, flood or windstorm coverage. Standard insurance doesn’t cover earthquake or flood damage, and windstorm coverage is limited in some hurricane-prone regions. If you live in an area affected by these risks, you may want to ask about optional coverage. Flood insurance is required for some properties in high-risk zones.

Replacement cost coverage for your belongings. Most standard homeowners insurance policies won’t pay to replace old items with new ones unless you choose this upgrade. You can ask for more coverage for your belongings (like computers, clothes, art pieces, dishes, etc.). 

Extended or guaranteed replacement cost coverage for your home. Standard policies won’t pay more than your dwelling coverage limit to fix your house. Extended replacement cost coverage will pay out more if repairs require it, up to a specified limit, and guaranteed replacement cost coverage will pay the full cost.

How to get a homeowners insurance quote

You can call a local insurance agent or broker who can give you a quote. It’s often nice to talk to someone who specializes in insurance in your area. 

You can also contact insurance companies online and fill out their online quote request form. 

I prefer talking to an agent, because many of the items in the online forms are not applicable, and you’ll end up having questions. The live agent can help you faster, and often make suggestions you won’t get online. However, it might be wise to get at least one online quote, once you know what you want to be comparing.

KNOW SOMEONE WITH QUESTIONS ABOUT BUYING A HOME? PUT THEM IN TOUCH WITH US FOR HELP. Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside http://www.HanleyHomeTeam.com

How to Buy a Home Sight Unseen

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If you’re thinking about buying a house right now, you’re probably wondering how best to go about it. The truth is, you can still do in-person tours in some places, depending on the local regulations, but many people are buying homes right now without stepping foot inside until the deal is done.  

Sight unseen deals are nothing new, but up until recently they were used mostly for foreign buyers, investors, or long-distance home shoppers. These types of remote deals have become more mainstream in the wake of the COVID-19 pandemic, and there’s evidence to suggest they’re more than a passing trend. 

A survey from 2018 showed that about 20% of homebuyers had made an offer on a home without seeing it first. A more recent, COVID-19-influenced survey, found that 45% of homebuyers in the last year had made an offer without seeing the property in person. In April of this year, Realtor.com found that “24% of 1,300 consumers surveyed said they’d be willing to buy a home without first seeing it in person.” 

If you’re considering purchasing a home sight unseen, keep these tips in mind: 

Work with the right agent
If you’re buying a house without touring it first, you have to depend on your agent to be your eyes and ears. It’s crucial that you go with a local expert, especially if you aren’t super familiar with the area. 

Take advantage of technology
Online listings with 3D home tours are up by more than 600% since the pandemic hit. Listings that have this functionality are likely to rise to the top because they give you a better feel for the home. Remember, whether you’re looking at a carousel of images or a 3D tour, don’t forget to ask your agent to go a step further.  

“Once you know which homes you’re most interested in, have your agent book some showings and take you along on the tour using FaceTime,” said HomeLight. Being able to view the property with someone in real-time will allow you to ask questions while getting an understanding of the “flow” of the home. 

Then, ask for a floorplan
Today, you’re more likely to find home listings that include a floorplan image. If you don’t see one, make sure to ask. While video tours offer an understanding of how a home feels, a detailed floorplan helps you ensure it measures up to your needs. 

Knowing the full layout of a home will give you some insight on what day-to-day life will be like. For example, watching a video tour might not reveal the fact that the new home office you’re excited about shares a wall with a noisy laundry room. Also, being able to quickly reference dimensions will allow you to imagine how you and your furniture will fit into the new space.  

Order an appraisal and a home inspection
Even in cases where they’re not required, you don’t want to skip these steps. Especially when you can’t or don’t want to tour a home yourself, having expert and objective documentation regarding the value and condition of the home is more important than ever.

It’s ALWAYS better to work with a team of agents with years of experience in helping buyers buy sight unseen. That’s where we come in! Kevin and Jennifer Hanley, REALTORS (with a combined 28 years of real estate awesomeness) The Hanley Home Team of Keller Williams Realty http://www.HanleyHomeTeam.com 904-515-2479

Real Estate’s Potential for the Greatest Good

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Homes for sale in Jacksonville, real estate, real estate consultant, real estate information, real estate investing, real estate jacksonville fl, Real Estate Team, real estate tips, The Greatest Good

“The greatest good you can do for another is not just to share your riches but to reveal to him his own.”

-Benjamin Disraeli (1804-1881); Prime Minister of the United Kingdom

What does it mean to reveal a person’s riches to themselves? What is the mechanism by which you can even accomplish such a thing? And what does it have to do with your real estate agent?

Quite a bit!  A real estate agent has the power to reveal their clients’ self-possessed riches.

One, a good agent will help clients see how a home is an investment in their future. That they are investing in themselves, and the decision to do so is a mark of their own wisdom.

Two, a good real estate agent helps guide clients through an emotionally fraught transaction, which often shows they have deeper reserves of self-confidence and strength that they may have overlooked in the past.

Three, a real estate agent helps foster a sense of trust and interdependency — that we can, in this world, rely on others to represent our best interests, and that we are not in a perpetual state of “king of the mountain” and abject self-reliance. A client with a good agent has both a friend and a professional ally.

Whether you’re buying your first house or selling your home, there’s both a tangible, bottom-line difference when working with an agent, as well as valuable intangible benefits. For us, it’s a great privilege to be a professional part of that process!

We’d love the opportunity to “the greatest good” on your behalf.  Now is a great time to make your next move: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Stop Robocalls

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We’ve all been there. You’re just sitting down to dinner or your favorite Netflix binge and the phone begins ringing. If you’re like most people, you’ve probably gotten used to screening a lot of calls because so many are robocalls. You know the kind and you know the drill: Political ads and scams. You pick up saying “Hello? Hello?” and then comes that eerie pause which tells you you’re about to hear a pre-recorded message.

It’s a rude waste of your attention, and yet many of us can’t just get rid of our home phone line. While you can ignore the call, often they call multiple times a day or every day of the week at the same time. The problem is widespread.

In early 2013 the FTC held a contest to combat the scourge of robocalls. The winner of that contest was Nomorobo, a free service which can check incoming calls to your phone lines against a massive blacklist database of known robocall sources. If Nomorobo detects a robocall, it screens the call much like the way internet web forms use CAPTCHA graphics to make sure you’re human. If the caller is a bot, the call never makes it to your phone. (Nomorobo will ring your phone once to let you know a call has been blocked.) Bingo! Peace and focus are preserved.

The service is free, but your phone provider must be able to provide a feature known as “Simultaneous Calling.” The Nomorobo website provides a form which quickly allows you to determine if your carrier already provides this service. If not, you can request it be added.

You can learn more about Nomorobo here:
http://www.nomorobo.com/

We have been inundated lately with Robocalls so we wanted to share this tip with you. If you’d like to keep up with tips like these as we find them, get in touch with us today: Kevin and Jennifer Hanley, REALTORS The Hanley Home Team of Keller Williams Realty Atlantic Partners Southside 904-515-2479 http://www.HanleyHomeTeam.com

Networking Can Help

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Buying a home, homes for sale in Jacksonville FL, Jacksonville FL Real Estate, Networking, real estate, real estate consultant, real estate information, real estate market activity, Real Estate Referrals, referrals

Usually when agents start talking about referrals, people assume they’re hunting for new listings or more buyers to represent. This isn’t one of those posts!

In fact, we wish more people would come to me looking for referrals in the community. A good real estate agent knows people in the community you can trust, and we’re always happy to provide the connection.

If you think about it, agents pretty much interact with all of the people dedicated to protecting, improving, or maintaining your biggest asset: Your home. Whether it’s a local insurance agent, an honest contractor, or a crack crew of yard and maintenance people, agents are great sources of “who you should know.” (We’re also reliable sources of locals-only community info!)

It’s too bad that agents are often involved only in the sale or purchase of a house. We prefer to think of ourselves as a lifetime consultant to our clients, and providing the names of people we would stake my reputation on is simply a part of our ethical obligation to serve.

So, by all means, if you’re looking for someone in the greater Jacksonville area, do drop us a line. We’d be more than happy to help: Kevin and Jennifer Hanley, REALTORS Keller Williams Realty Atlantic Partners Southside 904-422-7626 http://www.HanleyHomeTeam.com