Dino Rossi
RE/MAX Preferred Properties | 617-312-3910 | [email protected]


Posted by Dino Rossi on 10/13/2019

Have you heard a lot about HUD homes, but arenít sure if you should buy one or what the process entails?  HUD stands for The Department Of Housing And Urban Development. The FHA (Federal Housing Administration) is a part of HUD. The FHA is where federal mortgage insurance comes from. If a home is foreclosed on and insured by the FHA, the lender has a right to file a claim for the balance due on the mortgage. The FHA will pay this claim, and then transfer the ownership of the property to the HUD who will sell the home.


Will A HUD Home Provide A Price Break? 


The answer to this question is not necessarily. A HUD home is appraised just like any other home for sale. The price is based on the fair market value of the home. The prices may be adjusted according to any repairs that need to be made to the home. Itís a good idea to have your realtor look into comparable prices for HUD homes, as these properties arenít guaranteed to be a deal.


Know that HUD homes are sold as-is. There isnít much negotiating like that of a typical home purchase. As the new owner, youíll be responsible for all of the repairs. Itís a good idea to invest in a home inspection before you buy a HUD home for this reason. Youíll have a better understanding of what youíre getting into with this type of home purchase. 


How Do You Begin The Search For A HUD Home?


Housing and Urban Development homes are listed by state on the departmentís website. This is a good place to start your search. The site also lists brokers who are approved by the HUD. You can then contact local brokers to show you the HUD properties that youíre interested in.


The Process Of Making An Offer


Buying a HUD property can be very different than buying any other type of home in that the offer process is a bit different. These properties are sold through bids. You must hire a licensed real estate agent to assist you in this process, you canít just put a bid in on your own. Youíll need to be sure that your offer is placed during the designated offer period. Either the highest bid is accepted or the bid that came in first in order will be taken. Generally, the HUD wants to take the offer that will get them the most profit.


Careful With Financing


The HUD does not finance homes. Youíll need to apply for a mortgage just as you would in buying any other home. Before you can even make an offer on a home you must have approved financing. If for some reason you get through the process of having your offer accepted on the home and the financing falls through, thereís a chance that you could lose your earnest money deposit.     

     





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Posted by Dino Rossi on 10/6/2019

If you have ever seen where a controllable fire incidence brings down a house, then you will know the importance of fire alarms. One type of fire alarm system is the smoke detector, a standard safety device that should be in every home. Unlike the heat detector which relies on heat to reach a defined threshold before triggering the alarm, smoke detectors rely on the smoke to turn off the signal.

It is no news that many fires in the home start with smoldering smoke. This puts smoke detectors at the forefront of fire alarm systems. The traditional smoke detector relies on an acoustic alarm to raise a signal, so it defeats the purpose of smoke detectors if the homeowners are not around. It is important to note that full-fledged smart smoke detectors exist. However, they are quite expensive. Check out four inexpensive ways to make your smoke detector smart: 

Use a Wyze Cam

One way to make smoke detectors smarter is by using the Wyze Cam. This device is a trendy budget-friendly surveillance camera used in the house. This surveillance camera comes packed with a lot of features. Two useful features this camera comes with are the smoke and CO alarm monitoring. This device serves as both a surveillance camera and a safety gadget. 

The way this device works is simple. It listens to the sound produced in the room waiting for any that matches the smoke alarm pattern. When the device detects such sounds, it gets triggered and pushes a notification to your device.

Roost Smart Battery

Just like the Wyze Cam, the Roost Smart Battery also listens to sound around. If the smart battery picks any sound with a pattern like that of a smoke alarm, it gets triggered and sends a push notification to your device.

How this differs from the Wyze Cam is in the place where positioned. Unlike the Wyze Cam, this battery serves as a replacement of the smoke detector battery and lives inside the smoke detector making it more reliable. It, however, does not have other functionality and unlike the Wyze Cam where a single battery will be sufficient, you need one battery per detector. 

Install the Amazon Alexa Guard

The Amazon Alexa Guard is a device still in the making. This device, according to Alexa, listens and upon picking any suspicious sound like smoke alarm sounds and glass breaking, sends a push notification to your device.

DIY Approach

The Do-It-Yourself is for the tech-savvy readers who have experience with micro-controllers and Arduino. There are different ways to do this yourself. You can find the procedures on YouTube.

Having a full-fledged smart smoke detector in your home is important. However, if you have a little budget, you can follow the steps above to turn your smoke detectors into smart ones that send a push notification to your phone even when you are away from home.





Posted by Dino Rossi on 9/29/2019

If you've recently sold your house or are preparing to list your residence, now may be the perfect time to cut down on clutter. That way, you can remove excess items from your home and earn extra cash before you move into a new residence.

Of course, selling excess items may prove to be difficult, particularly for those with limited time and resources at their disposal. But individuals who use the web to their advantage should have no trouble selling excess items.

What does it take to effectively promote a wide range of items online to prospective buyers? Here are three tips to help you do just that.

1. Take Excellent Photos

Regardless of whether you're looking to sell an old tennis racquet or a rarely used refrigerator, it is important to take outstanding photos of your items. This will enable potential buyers to get a look at what an item has to offer and decide if it is right for them.

Before you photograph an item, clean this item thoroughly. By doing so, you can ensure the item will look pristine before you post photographs of it online.

Furthermore, take pictures of an item from multiple angles. And be sure there is sufficient lighting when you capture photographs, as this will allow you to showcase the true beauty of any item, at any time.

2. Provide Relevant Information

When it comes to selling excess items online, it pays to be honest. If you provide accurate, relevant information about an item to prospective buyers, you can increase the likelihood of connecting with the right audience.

Also, don't forget to include an engaging headline in your item description. This will help your item listing stand out from others, thereby improving your chances of stirring up substantial interest from dozens of potential buyers.

3. Respond to Buyer Concerns and Questions Immediately

An alert online seller usually is a profitable one. As such, if a buyer has a concern or question about an item listing, it is important to respond as quickly as possible to boost your chances of getting the best possible results.

For example, if you publish an item listing on Craigslist and a potential buyer sends you an email, you should try to respond within the first few hours. This will allow you to connect with the buyer and reduce the risk that the buyer will become impatient and look elsewhere for the same item.

If you need help decluttering your house and listing excess items online, your real estate agent may be able to lend a helping hand. This housing market professional understands the complexities of selling a house and moving into a new residence. Therefore, he or she can help you find innovative ways to declutter and streamline the moving process.

Take advantage of the aforementioned pre-moving tips Ė you'll be happy you did. Thanks to these tips, anyone can declutter a residence, sell excess items online and earn extra cash at the same time.




Categories: Uncategorized  


Posted by Dino Rossi on 9/22/2019

If this is your first home sale, you might be wondering about what your requirements are in terms of home inspections. A vital step in the closing process, professional home inspections are typically included in real estate contracts as a contingency (the sale is dependent upon their completion).

But, are there any situations in which a seller would get a home inspection?

In todayís post, weíre going to talk about why sellers might want to get their home inspection and how it could be useful to the home sale process overall.

To diagnose problems with your home

When youíre deciding on the asking price of your home, youíll want to take into account all of the things that could potentially drive that price down. Inspectors will look for a number of issues in your home, which can save you from any surprises when a potential buyer orders their inspection of your home.

The further along in the home sale process when you discover an expensive repair that needs to be made, the more complicated it makes your home sale.

So, if youíre in any doubt about whether your home will need repairs now or in the near future, ordering an inspection could be a safe option.

What do inspectors look for?

When inspecting your home, a licensed professional will look at several things:

  • Exterior components of your home, such as cracks or broken seals on exterior surfaces, garage door function and safety, and so on.

  • The structural integrity of your home; checking your foundation for dangerous cracks where moisture can enter and cause damage in the form of mold or breaks in the foundation.

  • The roof of your home will be checked for things like broken or loose shingles or nearby tree branches that could damage your home or nearby power lines in a storm.

  • The HVAC system will be tested to make sure itís running properly and efficiently and also that vents are clean and clear of debris.

  • Interior components of your home will be checked for safety and damage from things like pests and water damage.

Will the seller still order an inspection if my home just had one?

An inspection contingency is built into almost all real estate contracts to protect the interests of the buyer and seller alike.

In most circumstances, a buyer will want to get their own inspection performed. After all, they donít know who you went to for an inspection and whether they were licensed in your state.

The bottom line

Ultimately, if youíre planning on selling your home in the near future and arenít sure if your home may have any underlying issues, itís usually a good idea to get an inspection to make sure you can plan for any repairs or inform potential buyers of any issues with your home.




Categories: Uncategorized  


Posted by Dino Rossi on 9/15/2019

It is a fact that people who plan carefully to own a home will run into fewer financial issues later. So, if you want to buy a property now or sometime in the future, your first step should be to check your credit. It is a good idea to review your credit reports and scores from time to time, even if you are not buying the house or applying for a mortgage immediately. 

Your Credit Scores

Nowadays, most lenders use a FICO score when determining whether to offer you a loan or not, as well as in setting the rate and terms. Different lenders may use different credit scoring formulas, so your score can vary based on what type of scoring model the mortgage lender uses whether Experian, Equifax, or TransUnion FICO score. 

The scoring system is dynamic so that your score changes as the information in your credit report changes.

Ways of Getting Your Credit Score

There are many ways of accessing a credit score, and some of them are free. However, most organizations that provide free credit scores do so using different scoring methods than what the lenders' actually use. 

The four ways to obtain a score: 

1. Evaluate your credit card or another account statement - Most big credit card companies and some financial institutions, as well as credit unions, have started the service of providing credit scores to all their customers every month for free. The score is often written on your monthly statement or can be found by logging in to your online account. 

2. Consult with a non-profit adviser - Non-profit credit advisers and HUD-approved housing counselors can provide you with a free credit report in most cases and score and even assist you in reviewing them. A counselor may help you to buy a home, but we recommend you reach out to your reliable real estate agent who is more experienced and understands the job well than a mere counselor.

3. Buy a score - Credit reporting companies will sell your scores to you directly. You can also buy a FICO credit score at myfico.com. These credit scores are often different from your free ones and can be more accurate to what your lender sees. Don't get sucked into paying for extra features with your credit report such as identity theft monitoring, credit protection, or other services offered at the time of purchase.

4. Credit score services - Several websites offer a free credit score service. Some of these websites may be funded through advertising while others may require that you register for a credit monitoring service where you pay a monthly subscription fee to get your free score. 

Be aware that some of these services are usually advertised as free trial offers, and will start charging you a monthly fee if you don't cancel within the first week or month. Before you register for a service, ensure you know how much it really costs and how long the free period lasts. 

Your Credit Score Matters

Everybody is entitled to shop around for the best mortgage for their financial situation no matter their credit score. So, checking your credit history, fixing any mistakes, and knowing your credit scores will make you most suitable for getting a mortgage to buy a property for yourself.




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