Here are the top 10 cost the home buyers may miss with calculating the cost of buying a new home. This list is provided by Fieldstone Family Homes

1.) Property Taxes and Assessments

Home buyers often need to set up an escrow account with the new mortgage lender. This means that they must pay a portion of taxes upfront. In some states, the seller has already paid the local taxes and this amount must be paid back to the seller at closing. Also, some counties have transfer taxes whenever a property changes hands.

2.) Insurance

Fire insurance or a homeowner’s insurance policy usually needs to be paid for up front. Although you may be able to get an insurance binder from your company on a payment plan, most mortgage companies require the first year paid during escrow or closing.

3.) Appraisal Fees

Mortgage lenders require appraisals to make sure your property covers your loan amount plus their investment risk. The buyer normally pays between $150-$450 to the appraiser.

4.) Survey Fees

Some lenders require a property survey. You may also want a survey if the property lines are in question. Survey fees vary from $600-$2,500, or more for large parcels.

5.) Septic System Certification

If your new property does not connect to public sewers, you may need a septic clearance for your lender. Often the home seller pays this cost, but you want to make sure you get no hidden charges or surprises.

6.) Water Quality Certification

The same holds true for properties with a well and not public water service. For your own piece of mind, you will want to check the water quality and have this clause as a condition in your purchase contract. Not only do you want to make sure the water quality passes, you want to make sure the well has plenty of flow so you don’t run out of water.

7.) Miscellaneous Origination and Loan Fees

Your mortgage lender adds fees for processing your loan, document preparation, underwriting, closing, funding, and sometimes “garbage fees.” Check your estimated costs statements and look for hidden fees. Before committing to a lender, shop for your best loan and compare lender’s costs.

8.) Association and Maintenance Fees

Most buyers understand that a condo comes with association fees. However, some housing developments also charge maintenance fees. Don’t assume that the fees will be nominal. Many condos in California have association fees over $400 per month. Some of these fees need to be paid annually, which means a home buyer needs to pay upfront.

9.) Utility Service Fees

Check your hook up and installation fees for water, gas, electricity, cable or satellite TV, phone, trash, sewer and other services. Sometimes the water department covers the sewer and trash service. These fees quickly add up and you don’t want any surprises like a $340 water deposit required by some companies.

10.) Moving Costs

Plan your move before committing to a purchase. Know whether you can move yourself or need to hire professional movers. You may be shocked to find out the costs involved. Ask for referrals of clients and check out moving companies. Prices for truck rental and moving companies vary.

Stuart Drossner provides some tips for Home Buyers below. Buying a home is a very important step in your life and can be complicated. For questions you can visit Stuart Drossner at his website http://www.Stuart-Drossner.com

1. Get your financing arranged before you look for a home. See your bank or loan officer before you see a real estate agent. You must know how much you qualify for in a mortgage and how much money you need to close. When you meet these basic requirements, you’ll know the price range to shop.

2. Purchase an Owners Title Policy to cover your interest. Although you need a title policy for your mortgage lender, this only covers the loan amount. An Owners Title Policy costs little and protects your equity.

3. Know your property boundaries. In many locations, this involves getting a survey so you understand exactly what you’re buying.

4. Use an attorney when you need legal advice. Most agents can advise you on local customs, not legal issues.

5. Read the Covenants, Conditions and Restrictions of the subdivision (CC&Rs). If you’re purchasing a condominium, know what the association fees are and your legal rights. You need to know if you must always occupy the property or if you can rent it, if children are allowed, and what the association does. Do they paint the exterior, landscape, and send you an extra bill?

6. Do a final walk-thru before handing over your down payment and signing closing documents.

7. Make sure the seller’s move out on time. Once they get their money and the house changes ownership, you have no leverage if they damage something or don’t leave.

MIAMI HOME PRICES TO INCREASE 20-30% IN FIVE YEARS

In this recent commentary titled “Miami Confidential” National Association of Realtors Chief Economist Dr. Lawrence Yun, who has been named among the top 5 economic forecasters by USA Today due to his accuracy, indicates those who buy real estate in Miami now are likely to see strong appreciation and high returns on purchase prices in just a few years despite the current oversupply of condos.

“In five years, do not be surprised if home prices in Miami are 20 to 30 percent higher than the current levels, “said Yun.

This means that in five years homes currently priced at $200,000 could sell for $250,000; a current million dollar home for $1.2 to $1.3 million. Since the current buyers’ market is conducive to price reductions as a result of negotiations, the return on investment could very well be even higher.

In Miami, the median sales price increased over 340 percent in just 10 years. During the current market adjustment, prices have dropped some, but the drop has been negligible.

“The median home price in Miami was $80,500 in 1985 and $105,800 in 1995 and $363,900 in 2005 at the peak of the market. Prices fell by 5.7 percent for single-family homes and 6.0 percent for condos over a one-year period to the 4th quarter of 2007 according to NAR date”, said Yun.
“Prices grew 0.3 percent for single-family homes over the same period according to the government agency OFHEO”, he added.

Yun believes the main reason sales activity has decreased so much in Miami is due to fear of a market crash resulting from homes prices having grown much faster than income.

About Stuart Drossner

Stuart Drossner has been in the Real Estate business for almost a decade, he quickly jumped into the South Florida Luxury market at the early age of 18 Years old. Stuart specializes in working with Banks throughout the country selling foreclosed properties. Stuart Drossner can be reached anytime on his cell phone for personal assistance at 305-502-1717.

Tips to Selecting Exterior Color Paint by Sharper Impressions Painting

* If a home that is Large and is on a smaller lot painting it white or a light color will make the house seem larger and the a lot seem smaller.

* When choosing the color of your front door carry out the personality from inside your home. It will create a bridge to connect the inside to the outside. Keep in mind the architectural style of your home, the exposure and, landscaping. Conversely, a dark color on the lower portion grounds the home to the earth.

* Light or white is an excellent choice for windowsills for reflection of the sun’s heat and light into the house. The sash, frames and sills painted individual colors can really enliven a home. Even a subtle change in color can add appeal.

*Accentuate the positive and significant architectural details. For instance, rain gutters may not be worthy of an accent color, but if the rain gutters are part of the outer trim boards on the roof line, paint them to match the trim boards and they will blend in and work with overall design of the house.

* Windows are the eyes of the home they can add or even define the character of a home. Decorating them with flowers or drapery lends crispness to the color scheme.

* Color makes an impression, and can enhance the appeal of your home. A creative color scheme can add enjoyment and value to the home.

* Paint always looks dark on a textured surface due to the shadows the home creates.

* Pay attention to the geography of your home. Intense sun washes out colors so brighter colors that are suitable in Sunbelt areas might stand out in the northern locations.

* Balance is important. Keeping the balance between light and deep and warm and cool colors; consider not just paint color scheme but all the elements that make up the surroundings.

* Consider the color of your shingles when painting your home as well. If you have a black roof consider grays or whites. If you have a brown or tan roof consider earth tones. Avoid paying too much attention to metal window colors, they tend to blend in and go unnoticed.

Top modeling agency Tru Talent Management announces a new website, TruTalent.net, focused on the modeling industry. Tru Talent Management has been in business for over 12 years. Tru Talent Management is a leading talent agency, guiding the careers of many Actors and Models. Tru Talent Management has carved out a distinctive niche in the entertainment industry, earning a reputation for putting artists’ interests above all else.

Tru Talent Management has been responsible for some exciting bookings during late 2008 and into 2009. These bookings include the feature film “The Hangover”, in which Palmer Bocim was booked as a photo double/body double for Bradley Cooper. Other bookings in 2009 include a Rockstar Energy Drink Television Spec Commercial and L’Oreal/Redken International Beauty Symposium. The new website, TruTalent.net, gives you the tools and resources to be the next big booking by Tru Talent Management.

The new website TruTalent.net provides an inside look at the modeling world. Tru Talent Management is trying to overcome the lack of reliable resources for new and upcoming models. This website will include several sections dedicated to education about the modeling industry. Sections such as “How to Guides” will provide up and coming models a place to learn about auditioning, photo shoots, contracts and industry secrets. While the modeling industry can be intimidating it is also very rewarding for an eager model dedicated to their career. Too many times new models try and enter the modeling world with no knowledge of the industry. With anything in life it is important for newcomers to educate themselves and approach the new venture with an open mind.

TruTalent.net will allow readers to share their thoughts through commenting and they can even submit articles for inclusion on the website. The best way to learn about the industry is from others. The new website will allow new models the chance to get the facts from experienced professionals. TruTalent.net is a free website. You simply log on and find out what it takes to be the next big thing in the modeling industry. Articles and guides are written by experienced professionals in the modeling industry. Tru Talent Management is expecting to add several new items to the website weekly and plans to create an interactive forum in late 2009.

The new website is expected to be available online and through search engines such as Google and Yahoo by July 1st, 2009. For more information simply log on to www.TruTalent.net.

Tru Talent Management
4685 South Highland Drive, Suite 101
Salt Lake City, UT 84117
(801) 274.3377

1701 West Charleston Boulevard, Suite 500
Las Vegas, NV 89102
(702) 835.0035
www.TruTalent.net

Here are some basic tips on how you can avoid Home Builder Scams and Home Builder Rips Offs provided by Fieldstone Family Homes. Fieldstone Family Homes scam guide can save you from becoming a victim.

*Verify the home builder’s name, address and phone number. Be wary of homebuilders who give you pager numbers rather than a land line phone numbers, or post office boxes rather than street addresses. Legitimate contractors present themselves in a professional manner. Be cautious of anyone who cannot produce identification. They could be a builder or contractor scam just working in your area then they will move to the next town with new victims.

*Request references on similar work performed by the home builder. Ask to see a job in progress, and ask for the name and number of a customer who had work done over a year ago. Legitimate contractors are happy to name satisfied customers. Typically, it is with the customer’s permission that his or her name can be used to recommend work to others.

Small Residential Painting Business, Sharper Impressions Painting, Adopts Initiatives to Help Protect the Environment and Reduce Waste

Sharper Impressions Painting has set the standard for environmental awareness within the residential painting industry. “We hope our Green initiatives will educate and motivate other businesses to do the same,” says owner Geoff Sharp.

By meeting carbon offset guidelines issued by Carbonfund.org, Sharper Impressions Painting has erased the carbon footprint for its office staff, servers and physical offices. “Our donation to Carbonfund.org is invested in third-party certified offset projects like tree-planting and wind turbines,” says Sharp. “This certification group makes it easy for us to do our part. We’re proud to join the nearly 500,000 U.S. businesses like us who are committed to meeting carbon reduction goals.”