Cooking Shish Kebabs the Right Way
Ah, Shish Kebabs. Many people’s memory of a shish kebab is an incongruous combination of uncooked vegetables and tough chewy overcooked meat. Whether it is a flaccid bit of zucchini or the escaping tomato, there are many ways do shish kebabs wrong, which is why they have a pretty bad rep. We were determined to find a way that is both pleasurable to eat, and doesn’t require a lot of fluffing around. I tried a number of different techniques from my disturbingly large collection of cookbooks as well as online, and we found a lot of recipes but none that really satisfied all our criteria.
The main problem with shish kebabs is that the meat cooks much faster than most vegetables. This makes your vegetable choices actually quite limited. We had the best results with bell peppers and onions. They cook at a similar rate to lamb and the combination suits perfectly. We tried using a rub on the kebab, but because the meat cooks too quickly, it leaves an unappetizing taste and texture. However, marinades work fantastically.
Basic Grilled Shish Kebab
2 and 1/4 pounds of lamb (preferably leg of lamb – shank end), trimmed of fat and cut into 1 inch pieces
1 large onion (preferably red), cut into 3/4 inch pieces
3 medium bell peppers, cored, seeded and cut into 1 inch pieces
Step 1.
Combine lamb and your choice of marinade (see below) in a large bowl or plastic bag for as long as you can (minimum 2 hours or preferably overnight).
Step 2.
If using wood skewers, pre-soak at least 30 mins in advance so they don’t catch fire.
Step 3.
Start preheating the barbecue.
Step 4.
Thread each skewer in this order:
1 piece of meat
1 stack of onion (about 3 layers)
2 pieces of pepper
Repeat to fill your skewer – ending with a piece of meat.
Step 5.
Grill the kebabs uncovered until meat is browned all over. Cook for roughly 7 minutes for medium rare but this will vary depending on how hot your grill gets.
Shish Kebab Marinades
Both of these marinades simply need to be processed in your food processor until smooth. Enjoy.
Rosemary and Mint Marinade
10 large mint leaves
1 1/2 teaspoons chopped fresh rosemary leaves
2 tablespoons juice from a fresh lemon
4 garlic cloves
1/2 cup olive oil
1 teaspoon salt
A few turns of freshly ground black pepper
Parsley Marinade with Ginger and Spices
1/2 cup packed fresh parsley leaves
1 jalapeño chile
2 tablespons fresh ginger, grated roughly
4 garlic cloves
1 teaspoon ground cumin
1 teaspoon ground cardamom
1 teaspoon ground cinnamon
1/2 cup olive oil
1 teaspoon salt
A few turns of freshly ground black pepper
Friday, February 25, 2011
Wednesday, February 23, 2011
Trading Homes is Easy - Part 3
Trading Homes Is Easier Than You Think (Part 3 of 3)
One of the largest hurdles families face in the search for a new home is what to do about the home they are currently living in. We hope this three part series helps illustrate how trading a home can benefit a family.
The first of this series discusses the most common hurdles families face when seeking to move to a new home. The second part discussed how a new home builder offering a Trade In Your Homeprogram can help overcome these challenges. This third part of the series will discuss how the steps of a trade program work.
Where to start
As not all builders are able or willing to trade homes, it would be wise to research which builders do offer this option and then review their program and available homes. Once you have determined which builder, set a time to meet with him or her to discuss what you are seeking to accomplish.
What you will need to know
Your builder will want to know some information from you to do a preliminary evaluation. Here is a list of some of the items you should know;
The address and a description of your home including the room count, lot size, square footages and special features.
Condition of the major systems of the house such as your water heaters, appliances, heaters, air conditioners, roof, etc…
Disclosure of any items requiring attention such as leaks, foundation problems, etc… Remember you are legally obligated to disclose such items and being upfront will minimize these issues becoming a problem later in the process.
Your asking price on what you would list your home for with a Realtor and what you would expect to sell it for.
He will also need to know how much do you owe on your home as well as if you have any other resources you are able to use for a down payment.
Please be upfront with your builder. Every family I have worked with who has tried to be coy or not be upfront about their circumstances has had their trade fall through and they ended up not getting the house they wanted. This must be a win-win to work.
Can I Negotiate
Yes you can negotiate; however, take a step back and look at the big picture.
You are asking the builder to pay top dollar for your home but you want to buy the new home for a discount. The reality is the builder is doing you a favor in taking your home. If the builder was going to discount his new home to sell it, he could do that and not have to bother with taking a used home in trade.
The net effect is that if you want the builder to give you a fair price for your home on a net basis, you will need to use his asking price as the benchmark.
Another reason this is important is the builder will need to utilize his proceeds from the sale of his new home to use as the down payment on your old home. If he were to discount the price of the new home he may not have enough cash to move forward with the trade.
This has to be a win-win, if you are looking for a discounted price on a new home you will need to be ready to move forward without trading in your existing home.
The Evaluation
The builder will take your information and begin to research your home.
This will involve a host of different steps including; ordering a Comparative Market Analysis of your home, reviewing sales of similar homes in the area, physically inspecting your home, hiring a licensed inspector to inspect your home and other such similar items. This will give him the information he needs to assign a trade value for your home.
Next Step
Once you and the builder have come to an understanding, contracts will be executed. There will be two contracts, one for each transaction, which will both be contingent on the other contract being executed and closed.
The contracts will be delivered to the title company and the respective lenders. Once the lenders have completed their paperwork a closing date will be finalized.
During this time the builder will proceed with his traditional new homeowner orientation and walk through on your new home. He will also work to have his crews assemble resources for any needed repairs for your old home.
At Closing
On the closing day, all parties will meet at the title company and sign their respective papers. As most families will want some time to move, it is very common for a short term lease to be executed on the traded in home allowing time for the family to move out and clean up the house.
While this transition is in place the builder will often begin to work on scheduling the repairs and marketing of the traded in home.
Thank You
During down markets, trading home is a great means of moving without taking the risks and hassles associated with attempting to sell your old home. In a hot market, trading may offer a great means of being able to purchase the house you want before someone else beats you to it while you try to sell your old home.
Either way, if you are considering a move, look at all your options including trading. This concludes the three part series on trading in your home. To see the entire series visit our blog.
If you have a question on how to a trade program works, please feel free to email your questions to our offices. The Edinburgh Group is a full service building firm serving the Upper East Tennessee area. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at edinburghhomes@gmail.com or call our office at 423-723-0280.
If your family is not quite ready for us at this time, we will be at your service when you are in need or wish to request our assistance. If you know a family or client who may be in need of our services, we welcome and honor your referrals.
One of the largest hurdles families face in the search for a new home is what to do about the home they are currently living in. We hope this three part series helps illustrate how trading a home can benefit a family.
The first of this series discusses the most common hurdles families face when seeking to move to a new home. The second part discussed how a new home builder offering a Trade In Your Homeprogram can help overcome these challenges. This third part of the series will discuss how the steps of a trade program work.
Where to start
As not all builders are able or willing to trade homes, it would be wise to research which builders do offer this option and then review their program and available homes. Once you have determined which builder, set a time to meet with him or her to discuss what you are seeking to accomplish.
What you will need to know
Your builder will want to know some information from you to do a preliminary evaluation. Here is a list of some of the items you should know;
The address and a description of your home including the room count, lot size, square footages and special features.
Condition of the major systems of the house such as your water heaters, appliances, heaters, air conditioners, roof, etc…
Disclosure of any items requiring attention such as leaks, foundation problems, etc… Remember you are legally obligated to disclose such items and being upfront will minimize these issues becoming a problem later in the process.
Your asking price on what you would list your home for with a Realtor and what you would expect to sell it for.
He will also need to know how much do you owe on your home as well as if you have any other resources you are able to use for a down payment.
Please be upfront with your builder. Every family I have worked with who has tried to be coy or not be upfront about their circumstances has had their trade fall through and they ended up not getting the house they wanted. This must be a win-win to work.
Can I Negotiate
Yes you can negotiate; however, take a step back and look at the big picture.
You are asking the builder to pay top dollar for your home but you want to buy the new home for a discount. The reality is the builder is doing you a favor in taking your home. If the builder was going to discount his new home to sell it, he could do that and not have to bother with taking a used home in trade.
The net effect is that if you want the builder to give you a fair price for your home on a net basis, you will need to use his asking price as the benchmark.
Another reason this is important is the builder will need to utilize his proceeds from the sale of his new home to use as the down payment on your old home. If he were to discount the price of the new home he may not have enough cash to move forward with the trade.
This has to be a win-win, if you are looking for a discounted price on a new home you will need to be ready to move forward without trading in your existing home.
The Evaluation
The builder will take your information and begin to research your home.
This will involve a host of different steps including; ordering a Comparative Market Analysis of your home, reviewing sales of similar homes in the area, physically inspecting your home, hiring a licensed inspector to inspect your home and other such similar items. This will give him the information he needs to assign a trade value for your home.
Next Step
Once you and the builder have come to an understanding, contracts will be executed. There will be two contracts, one for each transaction, which will both be contingent on the other contract being executed and closed.
The contracts will be delivered to the title company and the respective lenders. Once the lenders have completed their paperwork a closing date will be finalized.
During this time the builder will proceed with his traditional new homeowner orientation and walk through on your new home. He will also work to have his crews assemble resources for any needed repairs for your old home.
At Closing
On the closing day, all parties will meet at the title company and sign their respective papers. As most families will want some time to move, it is very common for a short term lease to be executed on the traded in home allowing time for the family to move out and clean up the house.
While this transition is in place the builder will often begin to work on scheduling the repairs and marketing of the traded in home.
Thank You
During down markets, trading home is a great means of moving without taking the risks and hassles associated with attempting to sell your old home. In a hot market, trading may offer a great means of being able to purchase the house you want before someone else beats you to it while you try to sell your old home.
Either way, if you are considering a move, look at all your options including trading. This concludes the three part series on trading in your home. To see the entire series visit our blog.
If you have a question on how to a trade program works, please feel free to email your questions to our offices. The Edinburgh Group is a full service building firm serving the Upper East Tennessee area. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at edinburghhomes@gmail.com or call our office at 423-723-0280.
If your family is not quite ready for us at this time, we will be at your service when you are in need or wish to request our assistance. If you know a family or client who may be in need of our services, we welcome and honor your referrals.
Trading Homes Is Easier Than You Think (Part 2 of 3)
One of the largest hurdles families face in the search for a new home is what to do about the home they are currently living in. We hope this three part series helps illustrate how trading a home can benefit a family.
The first of this series discussed the most common hurdles families face when seeking to move to a new home. This second part discusses how a new home builder offering a Trade In Your Home program can help overcome these challenges. The third part will discuss how a trade program works.
What Is Trading
Trading your home is when you trade (sell) your current home to a builder and then buy one of their new homes. This is similar to trading in an automobile, however it is done on two separate contracts instead of one document.
Both transactions will close at the same time at the same title company. Your equity in your old home can be used towards your down payment on your new home.
How Much Is My House Worth
The value of your current home will be determined the same way a real estate agent would determine what price to list your home for sale.
A builder will typically order a Comparative Market Analysis, inspect your home and order a real estate inspection. This will give him or her the information they require to determine a value for your house.
Once the builder is able to determine what improvements are required (paint, carpet, roof, etc..) if any and the price the home will sell a trade value will be determined for the home.
Our company offers a “net price” meaning that we deduct out real estate commissions, repairs, marketing fees and negotiation factors. Here is a case study on a recent trade offer.
Here is what this family would most likely net out if they listed with a real estate company;
Realtor Lists & Sells Home
List price $260,000
Negotiations (3%) & Commission (6%) ($22,932)
Home Warranty & Title Policy ($2,597)
Carpet, Paint & Repairs ($13,000)
Landscaping upkeep and grooming ($1,500)
Total Adjustments off of list prices $40,029
Projected Homeowner Net Proceeds $219,971
Here is what a family would most likely net if they traded in their home;
Builder Offered Trade Value
Retail value of home $260,000
Less Carpet & Paint (major items) ($11,000)
Less Seller Adjustments – 5% ($13,000)
Total Adjustments off of list prices $37,000
Net Value For Trade Credit $236,000
In this example the home owners are most likely going to receive a bit more net value for their home than trying to sell it themselves. Please keep in mind that every trade is different and individual circumstances will vary.
Repairs
All homes require repairs and updating to be ready for sale. When a builder takes a home in trade he has developed a plan to address those items and will be able have his crews handle the repairs once you have moved out of the home.
By conducting the repairs with his crews and in a vacant home, he is often able to save on costs versus what they would cost you to have the same work done. Builders are also less inclined to be worried about small cosmetic items which may make a typical home buyer nervous.
Benefits
The builder will often take your home in its current condition without requiring you to replace the carpet, do paint touch up or fix sheetrock damage.
You can avoid the trouble of negotiating a sale or dealing with odd buyer requests. You will not have to be ready to jump at a moment’s notice when a Realtor wants to show your home of have any pressure to keep the home in show ready condition all the time.
However, the biggest benefit is that you are able to move when you are ready into a home you want in a timely manner with minimal disruption to your life.
What Can You Trade
The best trades are when the property you are trading in is worth less than one half the price of the property you are seeking to purchase.
Most commonly a family will trade in their existing home. However, sometimes a family will offer a vacant lot or an investment property.
Thank You
During down markets, trading is a great means of moving without taking the risks associated with attempting to sell your existing home. In a hot market, trading may offer a great means of being able to move on the house you want before someone else beats you to it.
Either way, if you are considering a move, look at all your options including trading. The last part of this series will detail the steps of how a trade will work. To see the entire series visit ourblog.
If you have a question on how to a trade program works, please feel free to email your questions to our offices. The Edinburgh Group is a full service building firm serving the Upper East Tennessee. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at edinburghhomes@gmail.com or call our office at 423-366-0431.
If your family is not quite ready for us at this time, we will be at your service when you are in need or wish to request our assistance. If you know a family or client who may be in need of our services, we welcome and honor your referrals.
One of the largest hurdles families face in the search for a new home is what to do about the home they are currently living in. We hope this three part series helps illustrate how trading a home can benefit a family.
The first of this series discussed the most common hurdles families face when seeking to move to a new home. This second part discusses how a new home builder offering a Trade In Your Home program can help overcome these challenges. The third part will discuss how a trade program works.
What Is Trading
Trading your home is when you trade (sell) your current home to a builder and then buy one of their new homes. This is similar to trading in an automobile, however it is done on two separate contracts instead of one document.
Both transactions will close at the same time at the same title company. Your equity in your old home can be used towards your down payment on your new home.
How Much Is My House Worth
The value of your current home will be determined the same way a real estate agent would determine what price to list your home for sale.
A builder will typically order a Comparative Market Analysis, inspect your home and order a real estate inspection. This will give him or her the information they require to determine a value for your house.
Once the builder is able to determine what improvements are required (paint, carpet, roof, etc..) if any and the price the home will sell a trade value will be determined for the home.
Our company offers a “net price” meaning that we deduct out real estate commissions, repairs, marketing fees and negotiation factors. Here is a case study on a recent trade offer.
Here is what this family would most likely net out if they listed with a real estate company;
Realtor Lists & Sells Home
List price $260,000
Negotiations (3%) & Commission (6%) ($22,932)
Home Warranty & Title Policy ($2,597)
Carpet, Paint & Repairs ($13,000)
Landscaping upkeep and grooming ($1,500)
Total Adjustments off of list prices $40,029
Projected Homeowner Net Proceeds $219,971
Here is what a family would most likely net if they traded in their home;
Builder Offered Trade Value
Retail value of home $260,000
Less Carpet & Paint (major items) ($11,000)
Less Seller Adjustments – 5% ($13,000)
Total Adjustments off of list prices $37,000
Net Value For Trade Credit $236,000
In this example the home owners are most likely going to receive a bit more net value for their home than trying to sell it themselves. Please keep in mind that every trade is different and individual circumstances will vary.
Repairs
All homes require repairs and updating to be ready for sale. When a builder takes a home in trade he has developed a plan to address those items and will be able have his crews handle the repairs once you have moved out of the home.
By conducting the repairs with his crews and in a vacant home, he is often able to save on costs versus what they would cost you to have the same work done. Builders are also less inclined to be worried about small cosmetic items which may make a typical home buyer nervous.
Benefits
The builder will often take your home in its current condition without requiring you to replace the carpet, do paint touch up or fix sheetrock damage.
You can avoid the trouble of negotiating a sale or dealing with odd buyer requests. You will not have to be ready to jump at a moment’s notice when a Realtor wants to show your home of have any pressure to keep the home in show ready condition all the time.
However, the biggest benefit is that you are able to move when you are ready into a home you want in a timely manner with minimal disruption to your life.
What Can You Trade
The best trades are when the property you are trading in is worth less than one half the price of the property you are seeking to purchase.
Most commonly a family will trade in their existing home. However, sometimes a family will offer a vacant lot or an investment property.
Thank You
During down markets, trading is a great means of moving without taking the risks associated with attempting to sell your existing home. In a hot market, trading may offer a great means of being able to move on the house you want before someone else beats you to it.
Either way, if you are considering a move, look at all your options including trading. The last part of this series will detail the steps of how a trade will work. To see the entire series visit ourblog.
If you have a question on how to a trade program works, please feel free to email your questions to our offices. The Edinburgh Group is a full service building firm serving the Upper East Tennessee. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at edinburghhomes@gmail.com or call our office at 423-366-0431.
If your family is not quite ready for us at this time, we will be at your service when you are in need or wish to request our assistance. If you know a family or client who may be in need of our services, we welcome and honor your referrals.
Tuesday, February 22, 2011
Trading Homes Is Easy
Trading Homes Is Easy
One of the largest hurdles families face in the search for a new home is what to do about the home they are currently living in. We hope these next few blog post helps illustrate how trading a home can benefit a family.
The first of this series discusses the most common hurdles families face when seeking to move to a new home. The second part will discuss how a new home builder offering a Trade In Your Home program can help overcome these challenges. The third part will discuss how a trade program works.
The challenges of buying a new home while living in your old home
Two Mortgages
Some families will move into a new home then sell their old home. This option does allow for a family to move at their own pace without being rushed however they do have the financial burden of two homes.
These costs can include mortgage payments, taxes, insurance, utilities and upkeep. In addition to the costs you must also work to clean up the old house and take care of all those unfinished projects that must be completed before putting the home on the market. Once all of that is completed, the selling ritual of pictures, Realtors, showings, negotiations, offers and counter offers begins.
While all of this is in progress, your family is still placing demands on you to help get settled into your new home. Then all those other pesky little aspects of life keep eating up your time, work, school, children’s events, etc…
I have built custom homes for clients who have tried this and although it is convenient, I can attest that once you are about 99% moved out of the old house, the last 1% can be a drag. The work and time it takes to get the old house ready to sell WHILE you are trying to get your new home ready to live in can be stressful and it does take some of the joy/excitement from the move into a new home.
Two Moves
Other families resign themselves to selling their home first then moving into temporary housing (apartments, rent house, in-laws) and placing their belongings in storage until they can find a new home.
This method allows for a family to take their time in the search for a new home, however, the costs associated with a double move and storage of one’s personal items can add up. Often the temporary housing is smaller and less comfortable than living in true home.
We are also hearing from families that their children do become restless as they are not settled into a permanent environment. Once the families become restless the pressure to “just buy something” becomes intense and families may settle on a home or location that is not their first choice.
Sell & Search
The most common approach which we have witnessed is a family selling their home and then making a mad dash to find what they a new home once their home sells.
Often in the rush they have to settle for what homes are available in their budget. More often than not we find these families settling for a home and then spending tens of thousands of dollars to try to fix the home to get close to what they were hoping to find.
This rushed approach to finding a new home is always tempered by the stress and pressures of making sure the contract on their existing home settles up. We have heard stories of buyers who use the family’s contract on their new home as a tool to get greater concessions out of the family on the contract on their existing home.
Common Factor
The common factor in all of these scenarios is that the family is at the mercy of outside forces and either has to spend time and money to cover additional costs, put themselves under undo pressures, settle for a house that may not have been their first choice or all of the above.
The next part of this series will discuss how a builder offering a Trade In Your Home program can offer an easier less stressful path to your family’s new home.
Thank You
If you have a question on how to a trade program works, please feel free to email your questions to our offices. The Edinburgh Group is a full service building and land development firm serving the Upper East Tennessee Area. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at edinburghhomes@gmail.com or call our office at 423-366-0431. I also encourage you to visit www.edinburghcommunity.com to learn more about our homes,
If your family is not quite ready for us at this time, we will be at your service when you are in need or wish to request our assistance. If you know a family or client who may be in need of our services, we welcome and honor your referrals.
One of the largest hurdles families face in the search for a new home is what to do about the home they are currently living in. We hope these next few blog post helps illustrate how trading a home can benefit a family.
The first of this series discusses the most common hurdles families face when seeking to move to a new home. The second part will discuss how a new home builder offering a Trade In Your Home program can help overcome these challenges. The third part will discuss how a trade program works.
The challenges of buying a new home while living in your old home
Two Mortgages
Some families will move into a new home then sell their old home. This option does allow for a family to move at their own pace without being rushed however they do have the financial burden of two homes.
These costs can include mortgage payments, taxes, insurance, utilities and upkeep. In addition to the costs you must also work to clean up the old house and take care of all those unfinished projects that must be completed before putting the home on the market. Once all of that is completed, the selling ritual of pictures, Realtors, showings, negotiations, offers and counter offers begins.
While all of this is in progress, your family is still placing demands on you to help get settled into your new home. Then all those other pesky little aspects of life keep eating up your time, work, school, children’s events, etc…
I have built custom homes for clients who have tried this and although it is convenient, I can attest that once you are about 99% moved out of the old house, the last 1% can be a drag. The work and time it takes to get the old house ready to sell WHILE you are trying to get your new home ready to live in can be stressful and it does take some of the joy/excitement from the move into a new home.
Two Moves
Other families resign themselves to selling their home first then moving into temporary housing (apartments, rent house, in-laws) and placing their belongings in storage until they can find a new home.
This method allows for a family to take their time in the search for a new home, however, the costs associated with a double move and storage of one’s personal items can add up. Often the temporary housing is smaller and less comfortable than living in true home.
We are also hearing from families that their children do become restless as they are not settled into a permanent environment. Once the families become restless the pressure to “just buy something” becomes intense and families may settle on a home or location that is not their first choice.
Sell & Search
The most common approach which we have witnessed is a family selling their home and then making a mad dash to find what they a new home once their home sells.
Often in the rush they have to settle for what homes are available in their budget. More often than not we find these families settling for a home and then spending tens of thousands of dollars to try to fix the home to get close to what they were hoping to find.
This rushed approach to finding a new home is always tempered by the stress and pressures of making sure the contract on their existing home settles up. We have heard stories of buyers who use the family’s contract on their new home as a tool to get greater concessions out of the family on the contract on their existing home.
Common Factor
The common factor in all of these scenarios is that the family is at the mercy of outside forces and either has to spend time and money to cover additional costs, put themselves under undo pressures, settle for a house that may not have been their first choice or all of the above.
The next part of this series will discuss how a builder offering a Trade In Your Home program can offer an easier less stressful path to your family’s new home.
Thank You
If you have a question on how to a trade program works, please feel free to email your questions to our offices. The Edinburgh Group is a full service building and land development firm serving the Upper East Tennessee Area. We offer new luxury homes, premium remodels, green building/remodeling, home care services, storm/roof repairs and commercial building contracting.
Please feel free to leave your comments, drop us an email at edinburghhomes@gmail.com or call our office at 423-366-0431. I also encourage you to visit www.edinburghcommunity.com to learn more about our homes,
If your family is not quite ready for us at this time, we will be at your service when you are in need or wish to request our assistance. If you know a family or client who may be in need of our services, we welcome and honor your referrals.
Thursday, February 17, 2011
Cost vs. Price - What higher Interest Rates can do to your purchase power.
Cost vs. Price - What higher Interest Rates can do to your purchase power.
A good rule of thumb is for every 1% increase of interest rate there is a 10% decrease in
purchase power. It's surprising to most buyers. This new year is going to bring many new opportunities to find a home. If you are still possibly considering a purchase you may want
to know this very important particular bit of information.
The higher interest rates go, the less home you and your family will be able to afford, finance
or purchase. If you were looking at property in the $500,000 range and interest rates were at
4.23% now they will eventually steadily be going up to 5.23%, meaning that if you wanted to
keep your mortgage payment the same you would only be able to purchase a $450,000 home.
Even with a 1/2% change in interest rate it can effect your purchase power greatly. I
recommend getting back into finding a house as soon as possible to get the most house
for your dollar, before interest rates go up and property prices stay the same.
Please see this example to show your buying power depending on what interest rate you
Please see this example to show your buying power depending on what interest rate you
lock your loan in at.
As a buyer it's vital to know your market and what options you have. I'm here to guide
As a buyer it's vital to know your market and what options you have. I'm here to guide
you through the process. If you have any questions email me: edinburghhomes@gmail.com
or give me a call at 423-366-0431
Monday, February 14, 2011
First Time Home Buyers
First Time Home Buyers
Kingsport New Homes
Congratulations on deciding to purchase a new home. You’ll always remember the feeling that comes with buying your first home. The process requires quite a bit of careful research, but that doesn’t mean it has to be difficult. Ask any of our homeowners who have chosen Edinburgh Homes, and they’ll tell you the same thing: When it comes to buying a house, don’t settle for less. From the minute we break ground to the day you move in and beyond, we’ll make sure all the details are right. Because at Edinburgh Homes, we’re just as excited as you are.
Owning Verses Renting
What are the advantages of owning verses renting a home?
It's never too early or too late to plan for your future. Paying $750 rent per month now is the equivalent of buying a home for $100,000. In 40 Years with approximately 4 percent inflation per year, your $750 per month rent may increase up to $3,600 per month. With owning you could have your mortgage paid off in as little as 15 years. Owning a home is a very wise investment. Over time you should build up equity that can be used to pay for home improvements, a bigger home, etc. Real Estate historically is one of the most stable markets available to invest your money in. There are also tax advantages to owning. The interest you pay on your mortgage may be tax deductible. Talk to your tax preparer for more information.
Buying a home is probably the biggest financial commitment you'll ever make. Buying a home is not just a dollars-and-cents investment; it's an investment in your life. It will create a sense of stability and identity for you and your family. Regardless of how times change, owning a home remains the cornerstone of the American dream.
The benefits of buying, when able to, far outweigh those of renting. But in the long run, owning a home is extremely important since your home is one of the biggest investments you can make. The key to this is home equity. Equity is essentially the value of the home.
Here are just a few of the many advantages to owning vs. renting
- You can build equity No matter how much rent you pay, 100 percent of your apartment or house still belongs to your landlord. But every time you make an amortized mortgage payment, you own a little more of your house. Initially, interest makes up the vast majority of your payments, but the proportion is constantly shifting in your favor. If real estate values rise, you’ll be even farther ahead. The longer you plan to stay put, the more of this benefit you will reap.
- Tax Deduction You can usually deduct mortgage interest on your tax return, which can mean big savings. If you’re in a 28% tax bracket and have a $150,000 mortgage at 7%, the first full year you own your home you’ll most likely be able to deduct more than $10,000 in interest. That translates into a tax savings of almost $3,000. In addition, even if you sell your principal residence for more than what you paid, you may not have to pay capital gains taxes. (There are limits, so consult a financial advisor for advice on your particular situation.)
- Pride of ownership A house may be an investment, but first and foremost it’s a home for your family. Even without the financial benefits, many people like the stability and sense of pride that comes with owning a home. You can renovate it to suit your own needs, plant a vegetable garden in the back and let the cat scratch the walls knowing there’s no landlord to impose his or her rules.
Why Buy a New Edinburgh Home?
- Choices When shopping among existing homes, you have to take the previous owners' style into consideration. Do you pay even more to redecorate or do you make do with someone else's choices? A new Penn Home, however, provides you with numerous design, color and material options.
- Modern Appliances Appliance manufactures introduce new models every year and Penn Homes is able to offer you the latest state-of-the-art equipment at the time of completing your new home.
- Floor Plans Take a tour of many existing homes and you will find dated floorplans. We offer you a variety of modern layouts and styles to suit your family's needs and lifestyle.
- Low Maintenance Why worry about constantly maintaining your home if you don't have to? A new Penn Home offers the latest and greatest materials that technology can offer. New Homes are virtually maintenance-free for many years.-
Please visit our website at edinburghcommunity.com if you have any questions or please feel free to email me directly at edinburghhomes@gmail.com
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