we realize we post a lot from the nahb (national association of home builders), but we really can't help it - they have some great articles. we saw an article on how to chose a builder and thought we'd share some of the tips with you. we, of course, would LOVE to be YOUR builder, but we'll show you the steps you can take to end up with us :)
The article states that you want to shop for your builder are carefully as you shop for you home. remember you're going to be working with them for a couple months - maybe longer - depending on what you're looking to build. The first step is to make a list of possible builders; ashford homes should be number one (well the article doesn't say that exactly...)
How To Make a List:
1. Contact your local homebuilders association for a list of builders in your area. If you're not sure where your local association is you can start from the state or national level and work from there.
2. Look in the real estate section of the newspaper local to the area in which you're looking to build. This will give you a chance to check out the ads and the articles to find which builders are active in that area. sometimes those same ads and articles can lead you to prices and information on different types of homes available - as a side note: not all builders put all that information in an advertisement, you may want to look at websites are stop by their office.
3. Local real estate agents may be able to help. ask friends and relatives for recommendations - even if they haven't build a home recently they might know someone who has.
Next Step - Do Your Homework:
1. Ask builders to provide you with names and addresses of previous clients who would be willing to speak with you
2. Drive by the homes - try to drive by over the weekend when homeowners may be out in the yard. By doing this you may be able to talk to homeowners and see the quality of the homes the builders build.
3. Take a notebook when you talk to builders - that way you can write down your thoughts and impressions. This will allow you to make comparisons later. Make sure you ask people if they're happy with their homes and if they had any problems were they fixed promptly?
Final Step - Shop for Quality and Value:
Look at the quality of construction features. Don't be afraid to inspect the cabinetry, carpentry, carpeting, trim work and paint. (You can inspect ours, we don't mine - make sure you don't just do a visual inspection - touch it too, you'll notice a difference - trust us)
Most importantly: ask questions, lots of questions, we don't mind. we understand that we've spent our lives in this industry, but that not everyone has, so ask away - we're ready!
Thursday, January 22, 2009
Wednesday, January 21, 2009
terms!
we like the national association of home builders website. we can't help it, we just do. so since we spend time looking to see what is new we also spend time looking at what can help you. we recently stumbled across a home buyers dictionary and decided to place some terms on here to help you out. maybe you already know some or all or maybe you don't know any, either way, we're here for you. want more info? check out www.nahb.org
Appraisal - An evaluation to determine what a piece of property would sell for in the marketplace.
Appreciation - The increase in the value of a property
Buydown - A subsidy (usually paid by a builder or developer) to reduce the monthly payments on a mortgage loan.
Cap - A limit to the amount an interest rate or a monthly payment can increase for an adjustable rate loan either during an adjustment period or over the life of the loan.
Certificate of Occupancy (CO) - A document from an official agency stating that the property meets the requirements of local codes, ordinances, and regulations.
Closing - A meeting to sign documents which transfer property from a seller to a buyer. (Also called settlement)
Closing Costs - Charges paid at settlement for obtaining a mortgage loan and transferring real estate title.
Conditions, Covenants, and Restrictions (CC and Rs) - The standards that define how a property may be used and the protections the developer has made for the benefit of all owners in a subdivision.
Credit Rating - A report ordered by a lender from a credit bureau to determine if the borrower is a good credit risk.
Density - The number of homes built on a particular acre of land. Allowable densities are usually determined by local jurisdictions.
Downpayment - The difference between the sales price and the mortgage amount on a home. The downpayment is usually paid at closing.
Earnest Money - A sum paid to the seller to show that a potential purchaser is serious about buying.
Equity - The difference between the value of a home and what is owed on it.
Escrow - The handling of funds or documents by a third party on behalf of the buyer and/or seller
Fixed Rate Mortgage - A mortgage whose interest rate remains constant over the life of the loan. The payments are not necessarily level.
Interest - The cost paid to a lender for the use of borrowed money
Mortgage Broker - A broker who represents numerous lenders and helps consumers find affordable mortgages; the broker charges a fee only if the consumer fins a loan.
Mortgage Commitment - A formal written communication by a lender, agreeing to make a mortgage loan on a specific property, specifying the loan amount, length of time and conditions.
Mortgage Company (Mortgage Banker) - A company that borrows money from a bank, lends it to consumers who want to buy homes, then sells the loans to investors.
Mortgagee - The lender who makes a mortgage loan.
Mortgage Loan - A contract in which the borrower’s property is pledged a s collateral and which can be repaid in installments over a long period. The mortgagor (buyer) promises to repay principal and interest, to keep the home insured, to pay all taxes, and to keep the property in good condition.
Mortgage Origination Fee - A charge by a lender for the work involved in preparing and servicing a mortgage application (usually 1 percent of the loan amount).
PITI - Principal, interest, taxes, and insurance (the 4 major components of monthly housing payments).
Point - A charge of 1 percent of the mortgage amount. Points are a one-time charge assessed by the lender at closing to increase the interest yield on a mortgage loan.
Principal - The amount borrowed in a loan, excluding interest and other charges
R-Value - The resistance of insulation material (including windows) to heat passing through it. The higher the number, the greater the insulating value.
Sales Contract - A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms.
Title - Evidence (usually in the form of a certificate or deed) of a person’s legal right to ownership of a property.
Transfer Taxes - Taxes levied on the transfer of property or on real estate loans by state and/or local jurisdictions
Walk-Through - A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands.
Warranty - A promise, either written or implied, that the material and workmanship of a product is defect-free or will meet a specified level of performance over a specified period of time. Written warranties on new homes are either backed by insurance companies or by the builders themselves.
Zoning - Regulations established by local governments regarding the location, height, and use for any given piece of property within a specific area.
Appraisal - An evaluation to determine what a piece of property would sell for in the marketplace.
Appreciation - The increase in the value of a property
Buydown - A subsidy (usually paid by a builder or developer) to reduce the monthly payments on a mortgage loan.
Cap - A limit to the amount an interest rate or a monthly payment can increase for an adjustable rate loan either during an adjustment period or over the life of the loan.
Certificate of Occupancy (CO) - A document from an official agency stating that the property meets the requirements of local codes, ordinances, and regulations.
Closing - A meeting to sign documents which transfer property from a seller to a buyer. (Also called settlement)
Closing Costs - Charges paid at settlement for obtaining a mortgage loan and transferring real estate title.
Conditions, Covenants, and Restrictions (CC and Rs) - The standards that define how a property may be used and the protections the developer has made for the benefit of all owners in a subdivision.
Credit Rating - A report ordered by a lender from a credit bureau to determine if the borrower is a good credit risk.
Density - The number of homes built on a particular acre of land. Allowable densities are usually determined by local jurisdictions.
Downpayment - The difference between the sales price and the mortgage amount on a home. The downpayment is usually paid at closing.
Earnest Money - A sum paid to the seller to show that a potential purchaser is serious about buying.
Equity - The difference between the value of a home and what is owed on it.
Escrow - The handling of funds or documents by a third party on behalf of the buyer and/or seller
Fixed Rate Mortgage - A mortgage whose interest rate remains constant over the life of the loan. The payments are not necessarily level.
Interest - The cost paid to a lender for the use of borrowed money
Mortgage Broker - A broker who represents numerous lenders and helps consumers find affordable mortgages; the broker charges a fee only if the consumer fins a loan.
Mortgage Commitment - A formal written communication by a lender, agreeing to make a mortgage loan on a specific property, specifying the loan amount, length of time and conditions.
Mortgage Company (Mortgage Banker) - A company that borrows money from a bank, lends it to consumers who want to buy homes, then sells the loans to investors.
Mortgagee - The lender who makes a mortgage loan.
Mortgage Loan - A contract in which the borrower’s property is pledged a s collateral and which can be repaid in installments over a long period. The mortgagor (buyer) promises to repay principal and interest, to keep the home insured, to pay all taxes, and to keep the property in good condition.
Mortgage Origination Fee - A charge by a lender for the work involved in preparing and servicing a mortgage application (usually 1 percent of the loan amount).
PITI - Principal, interest, taxes, and insurance (the 4 major components of monthly housing payments).
Point - A charge of 1 percent of the mortgage amount. Points are a one-time charge assessed by the lender at closing to increase the interest yield on a mortgage loan.
Principal - The amount borrowed in a loan, excluding interest and other charges
R-Value - The resistance of insulation material (including windows) to heat passing through it. The higher the number, the greater the insulating value.
Sales Contract - A contract between a buyer and seller which should explain, in detail, exactly what the purchase includes, what guarantees there are, when the buyer can move in, what the closing costs are, and what recourse the parties have if the contract is not fulfilled or if the buyer cannot get a mortgage commitment at the agreed-upon terms.
Title - Evidence (usually in the form of a certificate or deed) of a person’s legal right to ownership of a property.
Transfer Taxes - Taxes levied on the transfer of property or on real estate loans by state and/or local jurisdictions
Walk-Through - A final inspection of a home before settlement to search for problems that need to be corrected before ownership changes hands.
Warranty - A promise, either written or implied, that the material and workmanship of a product is defect-free or will meet a specified level of performance over a specified period of time. Written warranties on new homes are either backed by insurance companies or by the builders themselves.
Zoning - Regulations established by local governments regarding the location, height, and use for any given piece of property within a specific area.
Tuesday, January 20, 2009
So much to learn!
We just want to take time to thank everyone that joined us at the Green Expo we hosted over the weekend. We also owe a special to our vendors that helped make it all possible. We hope you learned a lot and enjoyed yourself. Let us know if there are other topics you would like to learn about in regards to building or renovating.
Tuesday, January 6, 2009
Want to get free stuff?
On Saturday, January 17th from 12 p.m. to 3 p.m. we will be hosting a GREEN expo at our showcase home in Riverside. We will have several vendors available to discuss green options for your home (new or existing). Plus you have a chance to enter drawings to win prizes such as a green commode (not in the color, but in the environmental conscience way), paint, Knoebels tickets and lots of other things. Who doesn't love a chance to learn and get some free stuff while you're at it? We'll keep you updated with more information, as the time gets closer.
Monday, January 5, 2009
It's been too long
We know its been awhile since we've updated you and we're sorry! We hope you had an excellent holiday season! We took our holiday decorations down today and we're looking forward to a new year. We'll be making some changes to the layout soon, so make sure to check back!
Subscribe to:
Posts (Atom)