Location and neighborhood. These are very important to consider in choosing a house. In choosing a location, we might want to consider whether to live in a suburb or an urban area. Living in a suburb is generally cheaper, but is usually further from the city, work and other major establishments. Living in an urban area is generally near to places like jobs, hospitals, shopping districts, and much more. Some disadvantages includes being pricier, noisier and usually higher crime rates.

Type of home. Another thing to consider is whether you want a single-detached house, or an apartment or condominium. Single family homes are generally more quiet, and can give more privacy. You also have an option to garden and perform other renovations that you want (if you own the house). This option is usually more expensive. Living in a condo or an apartment means less maintenance, and is usually less expensive. They do have less privacy, however. You also have no room for exterior renovations, and you share walls and ceilings with neighbors.

Interior specifications. These includes number of bedrooms, bathrooms, size of each room, facilities and much more. A home with three or more rooms is good for a bigger family. You may also want to consider garden area if you are a plant lover. Sunrooms are perfect for this type of arrangement.

If you are a first-time home buyer, following these simple steps can help you when choosing your ideal home.

• Hiring an agent will save you time. They will provide you with listings of available houses that match your needs, requirements and budget. Most often, they know new listings that are about to hit the market. They can preview the house beforehand, and give you information about it, such as if it is overpriced or too big or small.
• Look for a home that you love. This is not an easy process, as it can be physically and mentally draining. Look at and compare at least 7 houses at the same time, anything more than that may cause a headache. Do some research online before actually going to the property. Normally, a buyer takes 6 to 8 weeks before deciding on their chosen house, and it takes 2 to 3 house tours before finally buying it.
• Whether or not you need a loan from a mortgage lender or bank, it is a good idea to have a pre-approved loan application to show the seller you are a serious buyer.
• Negotiate the price. Comparing the price of different homes in the neighborhood is a good idea. This will give you an idea whether the asking price is reasonable.
• Arranging a home inspection is the final step in deciding to buy a particular home. It is crucial to see if there are some renovations needed or if you want some enhancements done on some parts of the house.

Studies predict that spending for home improvements will achieve $113.6 billion after the middle of 2012 which is, in reality, down by 0.2 percent against the 3rd quarter of last year. Home remodeling spending this quarter is up by 5 percent against the first quarter of last year. Although the expectations on home improvements is getting better, it all depends on economy improvement and the housing market.

Many people opt for home improvement to increase the value of their home. Remodeling is a good option for homeowners to add value to their property. Below are some guidelines to consider:

• the first thing that a homeowner needs to consider to add value to their home is to improve the curb appeal of the house. This include the garden, lawn, exteriors and the whole outdoor area of the house, including the roof and landscaping.
• Freshen up the color for the exterior and the interior of the house.
• Focus on the main rooms such as the bathroom and the kitchen. Add furniture or appliances if necessary.
• Clean and organize your garage.
• Consider putting fireplace if you don’t have one.
• Bring the laundry area up from your basement.
• Avoid adding or repairing windows because they do not add value to your house unless they are seriously damaged. Just clean your existing.
• Do not bother putting in a swimming pool if you don’t already have one; some people don’t like having pools because of the maintenance.
• Spending on furniture and the decor inside the home is good, but you may opt to prioritize other, more important things.
• Laying in new materials for your flooring may help a bit, but may not increase your resale value as much as you may think.

It is certainly true that home sales are low overall, compared to 5 years ago, and will continue to be low for some time. Still, sales of previously owned houses rose to 5% in December – its highest level since January 2011. Corresponding to this great news is that the job market also has improved. It goes without saying that this is vital for a housing market rebound. In December, the unemployment rate fell to its lowest in almost three years. Layoffs have started going down, while hiring is on the rise. This, in turn, is helping consumer confidence. Home sales may continue to rise as everything is falling into place. The average sales price of previously owned houses went up from November to December by 0.3 percent.

Sales across the U.S. are increasing, and it was an increase of 10 percent in the Northeast, 8.3% in the Midwest, and 2.9% and 2.6% in South and West respectively. The number of unsold homes is going down, and they can be sold quickly based on last month’s selling pace. Home sales are increasing at a time when other economic standards are also going up. This signals an improving health to our economy. Mortgage rates are at their lowest, and home construction is increasing. The housing market needs a few more years to recover, but it is looking good right now. Here’s to hoping for the best.

Your home’s curb appeal can be setup by remembering some major guidelines: The design of your house is an important part of curb appeal. Install a good lighting scheme; an interested buyer may want to see the look of the house at night with the lights on. They might also take a look at the garage, garden and patio during nighttime. Whatever lights you are going to install, make sure it balances everything, including making sure that all spaces are well lit. The railings on the porch should be in good condition, and be safe for use. Check for any broken parts, like a nail that is showing, unfastened screws, paint that is wearing off or small holes in the wall. Clean hallways, pathways, sidewalks, the driveway and everything that is visible for potential buyers and guests. Clean windows, walls, the roof and gutters. Paint may wear off as time goes by. Painting your house anew, exterior and interior, will freshen up the look of your home.

A well-maintained lawn and garden shows that the owners of the house are neat and clean. It shows pride in possessing the home. A garden is also a part of the house; you should decorate it as you would inside your house. Trim grown plants and trees. Mow the grass and trim the bushes. Keep garden tools and equipment neatly put away and out of sight. Although it seems unimportant, the house number is also important, but is often neglected. Make sure that the house number is visible from the outside. To ensure that your house has the total wow factor to prospective buyers, you may opt to hire a professional to take care of everything regarding your home’s curb appeal.

Some housing experts say that the yearly forecast shows continued growth for the market. This is especially true in the most desirable neighborhoods. Price stability also looks to be more stable. Condominiums and apartments will surge even with the construction and development of new subdivisions. They say that this could be the best year both for sellers and buyers since 2006; again, depending on the neighborhood.  Housing has been flat for many years, but it will improve as developers begin to start new projects. Foreclosures will continue to be a problem, and will still affect many markets especially in the West. After a brief slowdown with foreclosure processing, they have begun to pick up once again. This looks to be the one issue that could potentially derail any uptick in housing.

However, some of the positive signs that the country’s housing market is improving are as follows: the jobs market is looking up, housing sales and construction have been showing recent signs of improvement, business sales and profits are rising, and many consumers are in better financial shape today than they’ve been in the past few years. The growth of the housing market is forecasted due in large part to the increasing number of newly-built homes, a slowly rebounding job market, and the rapid growth of population that needs housing. The latter being one of the reasons rental properties in high demand. Good news for the housing is that job layoffs have been steadily declining along with the unemployment rate. Most real estate analysts agree that the jobs and housing markets go hand in hand. As more people find work, they are better able to qualify for a mortgage, and are more likely to buy a home.

Home construction has finally begun a gradual comeback and should add to the nation’s economic growth, a turning point in the recovery from the recession that much of the world has suffered.

• Ask for referrals. The first way to start is to ask referrals of interior designers from your friends, from real estate agents, or from your neighbors. Inspect the homes of friends and neighbors that you like and then ask them the interior designers that helped them conceptualize their homes. After having a list of referrals, you can research further by searching these interior designers via the internet. Their websites will have photos of their work that you can see.
• Research the cost. Almost everyone has a budget when it comes to home renovations. Aside from looking for the interior designer that you want to use, you also need to consider who will give you the best deal. What you need to do is research and compare the prices of these designers. You can get an idea by asking your friends or neighbors who were past clients of a particular interior designer that you are considering. Then you need to compare these prices to the average cost of other designers in your area.
• Once you hire an interior designer, let him or her refer you to contractors. You see, it is all about networking and referrals. An interior designer is likely to have a short list of contractors they trust to do good work. Consider their referrals as this can translate into faster decisions and more efficient work.

Selling a house is just the same. You need to consider a lot of things when selling your old home once you have decided to buy a new one. Because where you live plays such a vital part in your life, you should make sure that potential buyers of the house you are selling would be inclined to spend their life there. And, of all the things you should consider when selling your home, aesthetics is one of the most important.

Good interior design should be one of your top priorities when selling your home. Make sure your design is good, and is something potential buyers would actually like. You want them to feel at home, and for the home to be worth the cost. After all, who is going to spend that much for a home they cannot stand living in?

For those who are selling their home, here are some things to consider, aesthetically:

• The location of your home. When you live in a home, you do not only want the insides of your home to be peaceful and beautiful. You also want the environment outside to be as well. Make sure your potential buyers would like the area or the environment they would be living in.
• The style of your home interior. People don’t want to have to put in a lot of work as soon as they move in.
• The landscape style of your property. Think about the convenience, accessibility, and overall look when thinking about landscaping.
• The durability of the house, in general. Make sure the house, the materials used in the construction and the design itself would be able to stand up to normal wear and tear.

Part of your rights as a mortgage borrower include that you should be aware of your total loan contract. This includes the principal amount, interest rates, loan period, points and fees and any other similar issues. Inquire about a “Good Faith Estimate”. This shows the estimated cost of the total loan agreement, including the premiums and interest. Actual cost may differ from the estimated cost so make sure you work with your lender to get it as close as possible. Good Faith Estimates can also be a basis when comparing different lenders. In case of a change in decision like cancelling the loan agreement, knowing which fees are refundable and which are not is also your right.

Knowing exactly how the mortgage broker can help you is also your right. Your mortgage broker should provide you a clear understanding as to what extent they can help you throughout the loan process. You should also have a clear understanding of the broker’s fees, payment schedule and the lender’s charge. In this way, you can prevent any misunderstanding with your lender. Ask your loan provider for a list of charges and other loan terms that you don’t understand. Things like interest rates, loan duration, methods of payment, etc. are things you will want to get. They are the best person to ask because it is their job to know the ins and outs of what they offer. It is also your right to discuss anything about the loan agreement that is not okay with you. For example, a credit decision that you feel may be based on your religion, race, age, marital status, etc.

Loan providers should inform you whether or not your loan was approved in a timely manner in the event you need to look for another lender. Finally, they should provide you with a settlement cost booklet for comparing your estimated and total mortgage costs.

However, there was an announcement several weeks ago that this wonderful urban Nashville condo development has come out of receivership. The new owner of 5th & Main in East Nashville placed 25 units on the auction block at the astounding price $95,000 and, as of this week, have sold those, which is fantastic! And, this was without the much coveted FHA financing.

If you don’t know what FHA financing is it is worth your time to explore this type because it allows an owner-occupant borrower to purchase with as little at 3.5% down plus closing costs. It is my understanding that while FHA financing approval is in the works, the lender is offering initial portfolio loans to qualified buyers. This does require a 20% down-payment.

Though the initial auction was held on November 5^th, you can still go in and set appointments to see the units left that are currently selling for $119,000 and up. The rules state that you must be accompanied by a licensed realtor on your first visit. I would be happy to set this up for you if you are interested in a wonderful urban condo in East Nashville.

If you are not familiar with East Nashville and would like to explore this area of town, let me know. I would love the opportunity to introduce to one of my favorite areas in the Middle Tennessee area. If you go to the East Nashville section on the website, you will listings for the varied 4 and 5 start restaurants as well as the many quaint coffee stops and other shops. If you want additional entertainment all you have to do is cross the river and go downtown where you can see just about everything from concerts to sporting events.

Just one look at East Nashville and you will know why so many are drawn to this ever growing unique area.