Apps For Your New Home

Apple’s iPhone has been a trendsetter ever since it’s release. The iPhone App Store has been one of Apple’s key points of innovation. You will find apps that give you up to the minute news, highly recommended restaurants and even games to pass the time. In fact, it is sometimes hard to keep up with everything that is available. I recently noticed an icon in the App Store that advertised apps for your new home.

If you have been looking for a new home, there’s an app for that. For instance, Realtor.com has an app that will help you find homes that you want visit. Zillow.com has apps that help you find homes, and will give you the current mortgage interest rates. Even if you are only looking to rent an apartment, Apartments.com has an app. Whatever type of home buying information you want to have in the palm of your hand, you will be able to find a handy app for it.

Once you have found and purchased your new home, you may need help fixing some things so that they are more to your liking. For instance, what if the colors are not at all what you like. There are apps from places like Sherwin-Williams and Benjamin Moore that will help you match colors. The Home Depot has an app that not only let’s you shop, but also has tips and tutorials for many home projects.

As you can see, there are seemingly endless amounts of resources on your iPhone to help with your new home. If you don’t have an iPhone, there is no need to worry. Blackberry, Android, and Windows Phone all carry many of the same or similar types of apps. The big companies are especially likely to build their apps for multiple smartphone systems in order to reach the most people. So, start having fun with your smartphone, and download some apps today!

Home Sales In Nashville Stay Consistent Through June 2011

The housing market is still sluggish throughout most of the country, and sales in Nashville remain consistent. In a press release, the Greater Nashville Association of Realtors (GNAR) states that it is difficult to make accurate comparisons to last years sales numbers. This is due mainly to the fact that last year had a First Time Homebuyers Tax Credit and this year has not.

Much buyer hesitation likely comes from government talks regarding adjustments to the Mortgage Interest Deduction, as well as the possible institution of a mortgage down payment requirement of up to 20%. Regardless, it is important to remember that these are talks only, and are not law. GNAR president Alice Walker says, “Hopefully those leaders will end those considerations and do more to find ways to strengthen and enhance the housing and real estate market.”

For a comparison of property sales between June 2010 and June 2011, see the chart below. For a more detailed analysis, see the GNAR’s July 7 press release.

Basic Real Estate Terms

Educating yourself is the best way you can make a sound real estate investment. Real estate deals are full of many complex terms you may not be familiar with, and through education you will better prepare yourself when making the decision to purchase a home, through the closing procedures. Here are some basic real estate terms that you should familiarize yourself if you’re thinking about buying a home.

A broker is a third party professional who is brought on board to handle the transaction between buyer and seller. A real estate agent may work for a broker, but this is not always the case. Closing refers to the process in which the buyer, seller and their attorneys meet to sign all the necessary documents that will transfer ownership of the house.  Equity is the difference between the value of your home and the amount of money still owed on your home. This is not to be confused with escrow, which is when a third party holds a homebuyer’s money until the transfer of property is completed. Pre-qualification is a buyer’s first step in the home buying process, and reflects a mortgage lender’s good faith on the homebuyer. Prequalification makes it easier to purchase a home, because while it is not guaranteed, it is a sign of good faith that you will be approved for the loan. Once you’ve prequalified for a home loan you may request something called rate lock, that will guarantee the interest rate for a certain amount of time.

Understanding these basic terms, as well as other terms pertaining to the home buying process is a necessary part of being a responsible homebuyer. Familiarize yourself with as many facets of the home buying process as possible in order to understand everything that will happen during the process. Doing so will better your chances of having a seamless process as your buy your home.

Home Insurance Basics

The home buying experience can be stressful enough that you may think the confusing paperwork and other details are finished once you are in your new home. However, as a homeowner it’s important to understand your responsibilities including home insurance. Buying home insurance can be a dizzying experience, so it’s important to get the coverage you need without spending a fortune.

Firstly, it’s important to understand there is a difference between home insurance and fire insurance. Fire policies are less expensive, but will not cover everything you need. Landlords who own rental properties typically use fire policies, but some homeowners may choose this type of insurance as well. Certain types of coverage will protect the actual house including the roof, electrical systems, HVAC systems, and plumbing systems. If you have additional structures at your property (garages, sheds, etc) then you will require additional insurance to cover those structures. There is also additional insurance that will cover what is inside the home, namely, personal property. Make sure you check your policy to ensure your belongings are protected in the event of fire, water, theft, and lightning damage. There is also home insurance that can cover your living expenses should you need to leave your home and stay elsewhere due to extreme damage.

You may not require all of these types of home insurance, but it’s important to get the coverage you need. If your home is in a flood zone definitely invest in flood insurance. On the other hand, freak weather events (like the flood that occurred in Nashville over a year ago) can happen, and it’s better to be safe than sorry. Speak with a home insurance representative you can trust and get the most comprehensive home insurance coverage you can afford.