Tag Archives: coastalgeorgiarealestate

Five Ways to Discourage Burglars

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There’s more you can do to discourage burglars than an alarm system when you’re away. Burglars look for easy targets, where they can get in and out quickly. They pick a house and watch it to learn your comings and goings and for signs that you’re gone. So what can you do? Make it harder for burglars.

Smart Phone Security. Make cameras visible and install them in more places than the front door. You can access your security cameras anytime, anywhere and get alerts when visitors are detected. You can store video clips and recorded audio to the cloud.

Neighbors. Meet your neighbors and exchange numbers. Watch their homes when they’re gone and ask them to watch yours for any suspicious activity. Have your neighbor pick up mail, flyers on your door or packages left on your doorstep.

Trash. Burglars look through trash for valuable personal records and through empty boxes to learn about purchases, such as pricey new electronics. Make sure to shred important documents you wouldn’t want them to get ahold of.

Lighting. Motion detector lighting is startling and may discourage a burglar from entering your home. It’s worth it to keep your home well-lit with landscape lighting that illuminates windows, doors and walkways. Use on-off light timers, T.V. flicker simulators and large dog bark recordings to simulate that someone’s at home.  

Vehicles. Many burglars break into cars to get addresses and other information. Keep your car and glovebox locked. Don’t leave your garage opener visible. Instead, pair your opener with your smartphone so only you can access your home.

Success Strategies for 2022 Homebuyers

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If you’re a homebuyer without a home to buy, the ongoing housing shortage is making housing to buy less affordable by the day. Certain factors should change with time, which should provide you with a better chance to buy a home in mid-to-late 2022.

If you’re a homebuyer without a home to buy, the ongoing housing shortage is making housing to buy less affordable by the day. Certain factors should change with time, which should provide you with a better chance to buy a home in mid-to-late 2022.

One factor that helped fuel the current housing market boom was record low-interest rates. According to the latest weekly Mortgage Bankers Association survey, the average contract interest rate for a 30-year fixed-rate mortgage (FRM) under $647,200 was 5.20% with 0.63 points. That’s a quick rise from the record low recorded by Freddie Mac in December 2020 of 2.68% for the same FRM loan.  As a borrower, you could ask your lender about a hybrid mortgage that gives you a lower adjustable rate for a fixed period of five years before the rate adjusts to a fixed rate. 

Since the Great Recession, there’s been a serious shortage of new homes being built. The National Association of REALTORS says the U.S. needs to add 550,000 more homes to its 1.5 million annual average for the next ten years to make up the shortfall that’s now calculated to be about 6.8 million homes, after accounting for demolitions. Builders need more labor, more land and an end to supply chain shortages to meet this goal.

What can you do? Buy an older home that needs work. You’ll have the option of improving it or tearing it down and rebuilding when the market improves. 

Home Inspections for Co-ops or Condos

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Do you need a home inspection when you buy a condominium or a co-op? According to BrickUnderground.com, home inspections are common for single-family homes, but they’re also increasingly being requested by urban homebuyers of condos and co-ops. Condo and co-op owners share common spaces such as elevators, lobbies, parking, and grounds, but where they differ is who’s responsible for maintenance and what the inspection can cover.  

Condos are privately-owned units within a community of other privately-owned units, explains Bankrate.com. Owners share common areas, but inside their apartments, they own the air space and interior walls of their units plus the structural components of the exterior walls. Condos are managed by a homeowner’s association that collects monthly or annual dues to pay for common area maintenance, repairs and replacement. These services are typically provided by a third-party property management company.

In a co-operative, or co-op, a corporation owns the building, common areas and all apartment units. Instead of buying an apartment, homebuyers buy a share of the corporation, according to Amfam.com. The corporation holds the title to the property, and homebuyers build equity when future buyers pay more for their “share.” The board of directors is responsible for maintenance inside each unit and the building as a whole.

A housing inspection is the homebuyer’s right, but only for the unit and the major systems that the homebuyer is responsible for, including plumbing, electrical and heat and air systems, patio or balcony, kitchen, bathrooms, bedrooms, appliances, walls, doors, windows and flooring, advises AllAspectsInspections.com.