House Jumping

Need to buy a new house and sell current one?

You and half the population!

But how to you make that jump with a mortgage on each home?

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There are several way you can make the transition:

1.Take a Home Equity Loan

-This requires that you first have equity.

– Second, you must qualify to carry the payment on Home Equity loan, current mortgage and the new mortgage. All these payments usually rule it out as an option for most people.

2. Take a ‘Bridge Loan’

Also called ‘Swing Loans’, this is a short term refinance of your current mortgage, which helps in two ways:

-First, you can pull equity out (provided again you have equity) for your down payment and closing costs.

-Second, this reduces the payment on your current home to interest only, in order to make it easier to qualify to pay both mortgages.

The ‘Swing Loan’ is paid off once current home is sold.

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3. Go ahead with a new mortgage

–  If you have enough income, you may qualify to pay both the current mortgage and the new mortgage. Now, most people have NO desire to pay two mortgages, and that’s okay.

Usually, as long you qualify on paper, you can write the offer on the new home. Sell your current home quickly, and then close on the same day, with NO overlap in payment.

Even with a small overlap in payment, it is usually not a hardship. When selling a home, the amount in your ‘Escrow’ account that is set aside for property taxes every month by your bank, is refunded to you a month after closing. This refund allows you to cover the extra payment for a month or two.

-The other caveat here is that you must have the money for down payment saved. If this is hard to achieve, it is a good time to call on family for a short term loan, to be repaid once current home is sold.

Every situation is unique, and we work with you to help make the decision that fits best.

-Call us, and let’s get started helping you make a House Jump!     Call/Text: 717-819-2825

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New Year’s Resolutions for your Home

New Year’s Resolutions for your Home

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Being a few days into the New Year, many people like to set goals for what they hope to accomplish in the months to come. Your home can definitely be part of these aspirations! Here are a few small ways you can improve your home for 2017.

Plan a Budget for Improvements
Take a look at home improvements you hope to accomplish this year. Whether you’re ready to buy a new refrigerator, purchase new flooring, or it’s time to replace your roof, improvements are costly. Plan your yearly budget with these projects in mind to prevent you from overspending, that way there is money available for when you’re ready to make the changes.

Limit Water Use
Our homes eat up about 400 gallons of water each day which can equal hundreds of dollars in water and sewer costs. Save money this year by installing EPA certified WaterSense products. Purchase low-flow shower heads and replace old toilets with low flow toilets. These high efficiency toilets use compressed air and electric water pumps to flush using less than 1 gallon of water. Older toilets can use up to 8 gallons per flush.

Cut Energy Use
Start 2017 by cutting energy use in your home. A great place to start is checking the duct work on your HVAC system. Leaking ducts cause serious energy waste. By sealing and insulating your duct work, you will save big this winter on heating bills and also save this summer when it’s time to turn up the AC.

Purify Air
Did you know that the EPA has indoor air quality listed as a top environmental health hazard? During the winter when the doors and windows are closed the air is full of possible contaminants such as dust, mold spores, and viruses. Make sure the ventilation systems in your home exhaust air to the outside rather than in an attic or between ceiling joints. You can also purchase a portable air purifier for each room to remove pollutants.

Improving the livability of your home benefits all who live there. If you need a new home in the new year, contact me to for information on walking through that process.

Cozy up Your Home this Fall

Great tips for making your home more welcoming this fall!

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The weather is cooler and the leaves are starting to change, which means the autumn season is here! There are dozens of simple and cost effective ways to decorate your home both inside and out, and best of all don’t require a whole lot of time to put together. By using a few of the following décor tips, your home will start to feel festive in no time.

1. Purchase some mums to give your porch some color.

While the days of gardening are now mostly behind us, adding some mums to your front porch area is an easy way to give it a festive look. They are the perfect fall flower, and you can even re-plant them into rustic looking planters to really complete the look.

2. Visit your local craft store to create a centerpiece.

By using items like a candle tray, faux pumpkins and fabric leaves, you can…

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How we get your home SOLD

When you are thinking about selling your home, it’s important to ask how your home will be marketed.  With Homesale Realty, we go above and beyond to market your home effectively online, through social media, print media and more.

The Tom Pendergast Team and myself, Naomi Brown, know that a knowledgeable Realtor and a marketing powerhouse Real Estate company is what it takes to get your home SOLD. Contact us today to put professional Realtors and full service on your side.

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7 Pitfalls to avoid in Building your Dream Home

Have you dreamed of building your own new home, on a private piece of land?

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When you start looking, it can easily become overwhelming! Finding land, finding a quality builder, getting a loan, oh my! And we have only starting thinking about it!

There is no doubt that a quality custom home is a great reward for all that work though!

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Here are 7 things to consider as you move forward:

  1. What municipality is the land I want to buy located?  Every township has different requirements when a home is built. Go to the township office and have a detailed conversation!

2. Will I connect to public utilities, or drill a well and have a septic system installed? The costs for these vary hugely! Well and Septic will be $10-$30,000. Public utilities are by no means free- sewer and water connection fees can top $7,000+.

3. Is the home I want to build economically feasible? The more elaborate the facade and layout, the higher the price! Consult a builder for advice on making a home less expensive to build.

4. What is the reputation of the builders I am considering? As a knowledgeable Realtor we can advice you on the reputation and building quality of area builders.

5. How will a finance this home? If you are not paying cash for everything, a construction loan will be required. A good local bank or credit union is the best place to go for Construction Loans.

6. What is my time frame? A custom home will take 8 months on average to build, or longer.

7. What will be resale value be? Obviously, you will want to live in your special home for many, many years to come. But when its time to resell, will you make money on your investment? I can advice you on what features will increase your home value from the beginning.

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There are many more items to consider, but let this be a good starting point! As an experienced Realtor who has sold many new homes and pieces of land, I can advise you on the right course of action!

Building a home can be very complicated, but if you put experience on your side, it can be an easy process. Professional service from a knowledgeable Realtor can save you much time and money! Let me be your partner in making you dream home become a reality.

Contact me to get started today!

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