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Buying A Home When Relocating

by The Pilgrim Team

If you are planning to relocate to a new city for a  new jobs, educational opportunity or another reason, you may find such a major life change stressful. Purchasing a new home in an unfamiliar area can be difficult and you don't want to make a Tips mistake or buy in the wrong Neighborhood. Below are a few tips to help you make the right decisions.

  • Start your research online by searching for information on the city, coupled with information or housing. Check out the websites of the local Chamber of Commerce, the major newspaper for the city, the local police department's Web site to check crime stats.
  • Locate a real estate agent in the area. Agents can be a wealth of information and can help you with your search. Many agents tend to specialize in neighborhoods and can assist you.
  • Work on a moving budget. Relocating to a new city can be expensive, the further you have to move the more it will cost. Start your research by investigating different moving companies and how they charge for their services. Check out this website, that will help to give you quotes for moving based on different specifications.
  • Because every state is different, find out how what types of disclosures you can expect to receive and which types of inspections are normally performed.
  • Do your research on the local schools. You can find information on student/teacher ratios, programs offered and federal funding provided.

Moving to a new city can be scary, especially when you don't know anyone in the area. It can be however a wonderful opportunity to meet new people and experience new things and new opportunities. Starting early and doing research can help you to feel prepared and make the process more comfortable.

Spring Cleaning

by The Pilgrim Team

Spring officially arrived this week and for many homeowners this is the signal of the traditonal spring cleaning ritual. While not everyone enjoys this task, it is always nice to open the windows, clean and organize your home. Especially If you are planning to sell your home in the upcoming months, now is the time to get your home ready!

One of the biggest parts of spring cleaning is getting rid of clutter that you don't need. First start to remove all of the things that you simply don't use. Cleaning will be a lot easier if the clutter is gone.

Below are some helpful tips to help you make the most of your spring cleaning!

  • When you dust, start at the top and work down. 
  • Leave baking soda on carpeting over night will absorb musty odors.
  • Wash walls from the bottom up, to avoid streaking.
  • Use old socks as mitts for cleaning difficult wood work.
  • Wash small knickknacks instead of dusting.
  • To removing heel marks , take pencil eraser and rub them off. 
  • Rubbing alcohol can remove the dull haze from mirrors.
  • Glass shower doors will sparkle if cleaned with white vinegar.
  • Lighter fluid will remove most stains from porcelain
  • A few drops vanilla extract on a piece of cotton placed in the refrigerator will eliminate odors

Spring cleaning is often considered a traditional ritual by some homeowners. It celebrates the end of a long cold winter and encourages the warm weather to make a comeback!

What is a Deed of Trust?

by The Pilgrim Team

Once you have purchased your home, one of the documents you will sign when you go to closing is called a Deed of Trust. As with some of the documents you will receive, many homeowners typically are unaware of exactly what this important document is. A Deed Of Trust is the security for your loan. It is the document that is recorded in the public records.  A deed of trust contains three parties:

•The Trustor, which is the borrower

•The Trustee, which is an entity that holds "bare or legal" title

•The Beneficiary, which is the lender


The deed of trust identifies the following:

•Original loan amount

•Legal description of the property being used as security for the Home Financing

•The parties

•Inception and maturity date of the loan

•Provisions of the Home Financing and requirements

•Late fees

•Legal procedures

•Acceleration and alienation clauses

•Riders, if any, regarding such clauses as prepayment penalties or terms of an adjustable rate Home Financing

Before you sign a Deed of Trust be sure to read all the fine print and pre-printed portions. It is a good idea to request a blank copy of the deed of trust beforehand to review. When you do go to closing be sure to make sure everything is correct before signing. Things such as the principal balance of the loan, the interest rate, and any pre-payment penalties should be reviewed for accuracy.

What a Certified Distressed Property Expert (CDPE) Offers

by The Pilgrim Team

What can Jerry Pilgrim, a CDPEAdvanced member, offer to homeowners in distress?

“I am a member of the CDPEAdvanced program. You may have heard of CDPEs or Certified

Distressed Property Experts before. We are agents who have committed to understanding and

providing Foreclosure avoidance solutions to homeowners facing financial hardship.

Being a real estate agent today means something different than perhaps a few years ago.

Today, around 15 percent of Home Loans are delinquent, or not being paid. That means one in six

homeowners you meet may be experiencing the same challenges you are. So the first thing you

should know is that you’re not alone, and that there are millions of others across the country

in your situation.

As a CDPEAdvanced member, I’m part of the charge to turn this crisis around by immersing

myself in the solutions available to distressed homeowners. And my goal is to bring the best

option to each individual homeowner.

CDPEAdvanced gives me access to regular industry updates from the Distressed Property

Institute, a company created by real estate leaders with the specific purpose of pulling as many

homeowners out of distress as possible.

I also have access to a network of top agents nationwide who are also dealing with distressed

properties. This is a powerful tool. It lets me find out what is happening on the front lines, what

banks and buyers are looking for, which foreclosure avoidance tactics are working and which

ones aren’t.

Between the market analysis and the network of agent communication, I can offer you the

most current, relevant solutions.

This housing market has become such a moving target that anyone who isn’t taking extra steps

to keep up will simply get left behind. My clients need to know all the options available to them,

and that is what I can deliver. This is why I am a CDPEAdvanced member.”

Find out more by visting www.PilgrimTeam.com or visit www.StopYorkForeclosures.com

Avoid Mortgage Modification Fraud

by The Pilgrim Team

Hi
I wanted to give you a heads up on something I think every single homeowner should be aware of. The FBI and U.S. Attorney General Eric Holder have reported a 400 percent increase in Home Financing fraud cases from five years ago. Seems to be that with more homeowners unable to make mortgage payments, there are more and more predators trying to exploit these people.

I don't want to be unnecessarily alarmist. But this is a threat that you or anyone you know should be aware of when going through a real estate transaction. It's not the nicest thing to think about, but essential nonetheless.

For anyone you know who is considering a relocation, Home Financing modification, Short Sale or any other transaction, I put together a free report available on my website that explains what kinds of fraud schemes the FBI has seen, as well as the "red flags" to look out for. You can download it here:

http://stopyorkpaforeclosure.com/

If you have any questions about Home Financing scams, or if anyone you know needs legitimate, professional help with avoiding Foreclosure, please don't hesitate to contact me. I am here to help.

Sincerely,

Jerry Pilgrim

 

   

Saving Money On Homeowners Insurance

by The Pilgrim Team

Once you have purchased a home, you will need to obtain homeowners insurance. This type of insurance can be costly depending on your coverage and location and company you decide to purchase your policy from.  Below are some things to consider when buying homeowners insurance that can help to save you some money!

1. Shop around

Be sure to do your homework and check with several different companies for the best rates and the value they offer. You can look online for different companies and their rates quickly to compare. Check with the National Association of Insurance Commissioners (www.naic.org) for information to help you choose an insurer in your state, including complaints. States often make information available on typical rates charged by major insurers and many states provide the frequency of consumer complaints by company.

Keep in mind that this policy will insure your home and everything you value in it, so don't consider price alone. The insurer you select should offer a fair price and deliver the quality service you would expect if you needed assistance in filing a claim. So in assessing service quality, use the complaint information cited above and talk to a number of insurers to get a feeling for the type of service they give. Ask them what they would do to lower your costs.

2. Increase Your Deductible

Deductibles are the amount of money you have to pay toward a loss before your insurance company starts to pay a claim, according to the terms of your policy. The higher your deductible, the more money you can save on your premiums. Nowadays, most insurance companies recommend a deductible of at least $500. If you can afford to raise your deductible to $1,000, you may save as much as 25 percent. Remember, if you live in a disaster-prone area, your insurance policy may have a separate deductible for certain kinds of damage. If you live near the coast in the East, you may have a separate windstorm deductible; if you live in a state vulnerable to hail storms, you may have a separate deductible for hail; and if you live in an earthquake-prone area, your earthquake policy has a deductible.

3. Make Policy Premium Payments Electronically.

Many companies now charge up to $5 for mailed or phone payments, so have your payments automatically deducted to shave that cost. Sometimes the deductions can come from your credit or debit card, so you don't have to worry if the money is in your bank account when payment time comes.

4. Purchase Multiple Policies From Your Insurer

Some companies that sell homeowners, auto and liability coverage will take 5 to 15 percent off your premium if you buy two or more policies from them. But make certain this combined price is lower than buying the different coverages from different companies.

5. Make Your Home More Disaster Resistant

Find out from your insurance agent or company representative what steps you can take to make your home more resistant to windstorms and other natural disasters. You may be able to save on your premiums by adding storm shutters, reinforcing your roof or buying stronger roofing materials. Older Homes for sale in york pa can be retrofitted to make them better able to withstand earthquakes. In addition, consider modernizing your heating, plumbing and electrical systems to reduce the risk of fire and water damage.

6. Improve Your Home Security

You can usually get discounts of at least 5 percent for a smoke detector, burglar alarm or dead-bolt locks. Some companies offer to cut your premium by as much as 15 or 20 percent if you install a sophisticated sprinkler system and a fire and burglar alarm that rings at the police, fire or other monitoring stations. These systems aren't cheap and not every system qualifies for a discount. Before you buy such a system, find out what kind your insurer recommends, how much the device would cost and how much you'd save on premiums.

7. Seek Out Other Discounts

Companies offer several types of discounts, like senior discounts. Insurance companies have found that retired people stay at home more and spot fires sooner than working people. Older people also have more time for maintaining their Homes for sale in york pa. If you're at least 55 years old and retired, you might qualify for a discount of as much as 10%. Some employers and professional associations administer group insurance programs that may offer a better deal than you can get elsewhere.

8. Review Your Policy Limits

You want your policy to cover any major purchases or additions to your home. But you don't want to spend money for coverage you don't need. If your five-year-old fur coat is no longer worth the $5,000 you paid for it, you'll want to reduce or cancel your floater (extra insurance for items whose full value is not covered by standard homeowners policies such as expensive jewelry, high-end computers and valuable art work) and pocket the difference.

Is The Time Right To Be A Homeowner?

by The Pilgrim Team

While the real estate market has been struggling for sellers, their are numerous incentives that make this a great time for home buyers. Historically low interest rates, first time homebuyer credits, low home prices and a large inventory of properties make now the perfect time to buy a home.Even with all the positives, some Homebuyers Tax Credit know that purchasing a home is a big step and may still have some concerns about making one of the biggest purchases of your life. Below are some things that can help you know if you are ready to make the leap into homeownership!

  • You have a budget and you stick to it. If you have your finances in order that is the major first step. Becoming a homeowner, especially in a difficult economy can be financially challenging. If you have created a budget and stick with it you are on the right path. Having good money-management skills are a must-have so that when you do own a home you will be able to have a smooth financial flow for monthly home expenses.
  • You have a sizable down payment of at least 20%. While this is a large amount of money to come up with it is important to have as you will start out with having some equity. There are options out there for zero or low money down loans but if you have to sell your home before you expect you can potentially loose money and you will also need to pay for PMI (priviate mortage insurance).
  • Affordability should be a main concern, a steady income is vital. Your monthly income must cover Home Financing payments and homeownership costs and still allow you to live comfortably. You still need to pay for food, clothing, transportation and other living expenses as well as unexpected expenses.
  • Having an emergency fund is another sign that you are on the right track to homeownership. Owning a home means that there can be unexpected expenses at any time If you have enough cash on hand to cover three to six months of your living expenses, you're one step closer to being prepared for homeownership. Just in case something happens to disrupt your steady income — say a serious illness, unexpected layoff or even a natural disaster that prevents you from working — you want to make sure you can still afford to make your Home Financing payments.
  • Your debt and credit are clean. Having a good credit score will help to not only get a home loan but will also get you a lower interest rate on your Home Financing. Hold off on any large purchases such as cars before applying for a loan as this could effect your rating. Also review your credit report for free at annualcreditreport.com before even applying for the loan to check for any errors.
  • You are ready for the responsibility. In addition to the financial aspect of homeownership, you need to be sure you are ready for the other things that come along. Things like lawn care, upkeep as well as unexpected repairs need to be considered as part of owing a home. 

Whether homeownership is for you, however, depends on if you are ready both financially and emotionally for the change. After all, buying a home isn't just about money, lifestyle and commitment and time should also be considered in your decision. 

Displaying blog entries 1-7 of 7

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Photo of The Pilgrim Team Real Estate
The Pilgrim Team
Professional Realty Associates
2002 S Queen St, Suite 3
York PA 17403
Office: 717-757-5955
717-755-2683
Fax: 717-757-2887