T. Jay Johnson Jr. - Lamacchia Realty, Inc.



Posted by T. Jay Johnson Jr. on 7/10/2020

Your kitchen is an often used room and can become cluttered very quickly. There are plenty of strategies that you can use to keep the room in order. Below, youíll find tips that will help you to keep your kitchen decluttered and your supplies organized once and for all! 


Make Space For Storage


This sounds like an obvious need in any room of the house, but the kitchen is a place where you need ample storage. There are a few ways to do this. Outside of your cabinets, you can install freestanding storage units, like shelving or extra cabinets. Even an armoire can help you to have a space to beautifully display your dishes. 


Under your sink, you can keep your most frequently used items like soap, sponges, and detergent in easy to access solutions. Either install a small turntable, or simple get bins that can be labeled and pulled out as needed. This will keep everything you need together neat and tidy. It will be difficult to actually disorganize this space once you have completed this small task. 


Coffee Time


What would a kitchen be without coffee? If you brew a cup of joe every morning, youíll want easy access to coffee supplies. Dedicate a space next to the coffeemaker where youíll keep the coffee, mugs, beans, and other supplies. You can even keep your travel mugs near this space within reach when youíre running out the door. If thereís little room on the counter, hang hooks on the wall to keep coffee mugs and travel mugs out of the way.


Tackle The Trash And Recycling


Thereís nothing worse than having trash and recycling all over your kitchen. Keep these items concealed in dedicated cabinets. The perfect place for the trash and the recycling is next to the sink since thatís the most convenient location for the trash to be in. 


The recycling will follow the same pattern as it needs to be rinsed out and ready to go outside in the bins.  


Keep The Family Organized


A kitchen is a great place for you to have a center of communication for your family. This is where a bulletin board can be placed with important documents. A calendar listing all of the familyís activities and appointments can be hung for everyoneís reference. This area make use of a small space that would otherwise be wasted in your kitchen. It also serves a dual purpose in keeping the family organized.


Small changes can make a big difference in the kitchen when it comes to clutter, storage, and organization. Once you get started, keeping the clutter at bay can be very easy.




Tags: kitchen   orgainze  
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Posted by T. Jay Johnson Jr. on 7/3/2020

Itís a difficult time to be a first-time home buyer. Post-recession buyers are wary--and for good reason--of how and when to save money for a down payment on a house. One thing to remember, however, is that itís always a good time to start saving.

In this article, weíre going to cover the four most useful methods of saving for a down payment on your first home. That way you can feel confident in taking the first and most important step toward homeownership.

Choosing the right savings account


Unlike riskier investments, a savings account is a safe and proven way of building interest and saving for a home. However, not all savings accounts are created equal.

Typically, brick and mortar banks offer interest rates that are low--the current national average is only about 0.06% annually. While these banks offer conveniences such as in-network ATMs and check-cashing, their physical locations make them expensive to run.

Enter the online bank. Since online banks donít have all of the costs associated with running branches, they can afford to offer better rewards--namely, high-interest returns on your savings accounts.

So, should you take all of your money out of your current savings account and transfer it to an online bank? Maybe. But letís talk about the benefits of having multiple savings accounts.

Open a dedicated account with automatic deposits

Saving isnít just difficult due to financial reasons. Managing money also takes time and effort. To simplify this process, itís preferable to direct deposit or automatically transfer a percentage of your weekly income into your down payment savings account.

While it may seem like pinching pennies at first, even small weekly deposits add up, and within a few years the compounding interest can earn you enough for a higher down payment than you thought possible.

Prioritize high-interest debt now

Have student debt or a car loan thatís keeping you from focusing on saving for a down payment? Oftentimes the best coarse of action is to aggressively pay off high-interest loans. In the long term, this will save you money that can then be used toward a down payment.

For debt that will take several years to pay off, consider refinancing for a lower interest rate, or consolidating your student loans. Speaking with a student loan adviser or financial planner is a good first step to take toward managing your debt.

Make a real budget

Most of us think of a verb when we hear the word ďbudget.Ē However, itís more useful as a noun.

Creating a real budget, whether itís in Excel, Google Sheets, or with the help of an app, having a budget you can refer to once a week is vital to making good savings decisions. It will help you monitor your spending and stay on top of your savings goals.





Posted by T. Jay Johnson Jr. on 6/26/2020

Putting an offer on a home is an exciting event. You donít want to get so excited that you overlook the important factors that go into buying a home. Follow the tips below before you put an offer on a property.  


Research


In order to come up with a price to offer on a home, you need to do some research. You should have a general understanding of the local market. Although your realtor will have a good grasp on this, itís always a good idea to be an informed buyer. You can work with your realtor to find the right price. You donít want to blurt out a number that is completely out of line for the neighborhood or market conditions. 


A good place to start is by taking a look at what the homes in the the neighborhood are selling for. You can also look at what homes in the area have recently sold for. The advantage to hiring a realtor is that they have easy access to all of this research and information. Be sure that the properties that you look at are comparable to the one that you hope to put an offer on. You can even do this ahead of time if you have an idea of what kind of property youíre looking to buy. 


Another useful tool in the research part of making a offer is the history of the property. When did the seller purchase the property? At what price? If the seller has moved in more recently, you may have some wiggle room for negotiations.


Get Pre-approved


Getting pre-approved gives you some buying power. First, youíll know how much house you can afford. Next, youíll know that a lender is dedicated to lending you that amount to buy a home. Your offer will be taken more seriously if you have been pre-approved because the seller will know that you can get the funds to purchase the home. 


Get The Help Of A Realtor


When you hire a realtor, youíre getting the agent along with the team of people that they work with. Realtors can recommend you to everyone from home inspectors real estate attorneys. An attorney is an especially helpful advocate in the process of buying a home because they can check to be sure that your offer meets the legal requirements within your state and protect your interests as a buyer. 


The attorney will also look at the purchase agreement for the home. This will include all of the details of the property transaction:


  • The date of the offer
  • The address and property description
  • Amount offered for the home
  • Loan details including the down payment amount
  • The closing date
  • Any contingencies

These will all be very important to you as a buyer and a lawyer make sure that everything is legally sound will be a great protection for you.


Now, youíll be ready to seal the deal!       


 





Posted by T. Jay Johnson Jr. on 6/19/2020

Image by Credit Commerce from Pixabay

Finding financing for a home could be as simple as applying for a conforming FHA loan or it could be as difficult as having to locate a portfolio loan or even a combo loan. What you need depends on the real estate you are buying. Most people buying a primary residence get a conforming loan, whether it is conventional or government-backed.

Conforming vs. Non-Conforming

The first thing to determine is whether your loan is going to be conforming or not. A conforming loan for a single-family unit must be under $510,400 in most areas and $765,600 in other areas. The Federal Housing Finance Agency sets the rates. If you have to borrow more, you will need a jumbo loan or a piggyback loan. A common piggyback loan is where you pay 15 percent of the price, then take out two mortgages: one for 80 percent of the purchase price, then a second mortgage for 5 percent of the purchase price. You can work the percentages however you need them based on the purchase price. The piggyback loan keeps you from going into jumbo loan territory and possibly paying higher interest rates.

Conforming Loans

Conforming loans are conventional or government-backed loans. A conventional loan usually has a higher interest rate because it’s riskier to the lender. A government-backed loan, such as a VA or FHA loan is guaranteed by the federal government, thus it is less risky to lenders. Because of the lower risk, you get a better interest rate as long as your credit is good.

Adjustable vs. Fixed-Rate Loans

If interest rates are low and are projected to stay low, you can get an adjustable-rate loan to save a bit on the interest rate. As interest rates change, so does your mortgage payment. Adjustable rates are based on a certain index. For example, if your base interest rate is 4 percent, which means your interest rate will never go lower than that, and the Libor London rate is 1 percent, your rate is 5 percent. If the Libor London increases by a half percentage point, so will your loan. However, if it decreases by a point, your interest rate also lowers by a point.

Adjustable-rate loans are risky for the buyer because you don’t know if the rate will significantly increase over the life of the loan. If you plan on refinancing or selling the home after a few years, an adjustable-rate might be beneficial.

A fixed-rate loan means that your interest rate does not change over the life of the loan.

Portfolio Loans

You might have a hard time finding a loan because you are self-employed, your credit isn’t the best, or you are buying a property that doesn’t conform to most lenders’ standards. A lender doesn’t sell the loan on the secondary market, but instead holds it in the bank’s portfolio. These loans are riskier for the lender and will often have a higher interest rate.




Tags: loan   home loan   Financing  
Categories: Uncategorized  


Posted by T. Jay Johnson Jr. on 6/12/2020

A "lowball" homebuying proposal is unlikely to do you any favors, particularly if you want to acquire your dream residence as quickly as possible. In fact, after you submit a lowball offer, it may be only a matter of time before you receive a "No" from a home seller.

When it comes to buying a house, it helps to prepare a competitive offer. That way, you can increase the likelihood of getting a seller to accept your home offer and speed up the homebuying journey.

Now, let's take a look at three tips to help you avoid the risk of submitting a lowball offer on your dream residence.

1. Analyze the Housing Market

Are you searching for a house in a buyer's or seller's market? Are homes selling quickly in the current real estate market? And are houses selling at, above or below their initial asking prices? These are just some of the questions that homebuyers need to consider as they assess the real estate sector.

With a diligent approach to buying a house, a homebuyer can become a real estate market expert. This buyer can assess a wide assortment of housing market data, and by doing so, gain the insights that he or she needs to submit a competitive offer on any residence.

2. Understand a Home's Condition

A home purchase is one of the biggest transactions that an individual will complete over the course of his or her lifetime. As such, the decision to submit an offer on a house should not be taken lightly.

To make the best-possible choice, it helps to look at all of the available information about a residence. You should review a home listing closely and attend a home showing. In many instances, it may be beneficial to check out a house a few times to get an up-close look at it before you submit an offer.

The condition of a home will play a major role in how much you are willing to offer to acquire a residence. Therefore, you should learn as much as possible about a house's condition. And if you feel comfortable with a home, you should be ready to submit an offer that will match a seller's expectations.

3. Collaborate with a Real Estate Agent

Hiring a real estate agent generally is a good idea, particularly for a homebuyer who wants to reduce the risk of submitting a lowball offer on a house. A real estate agent can help a homebuyer prepare a competitive offer, as well as ensure that a buyer can enjoy a seamless home transaction.

Furthermore, a real estate agent will allocate the necessary time and resources to help you analyze a house. He or she will even offer homebuying recommendations and teach you everything you need to know about the homebuying cycle.

Avoid the temptation to submit a lowball offer on a house Ė use the aforementioned tips, and you can submit a competitive proposal to acquire your dream residence.




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