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Wes Mckibbon's Blog

By Wes A. Mckibbon | Real Estate Pro in New Orleans, LA
  • Tips For Buying An Older Home

    Posted Under: Home Buying in Lake Charles, Foreclosure in Lake Charles, Investment Properties in Lake Charles  |  April 3, 2013 12:20 PM  |  395 views  |  No comments



    Older homes often times offer more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors, antique fixtures and the list goes on.

    Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.

    Buying a house from another era can be a rewarding experience or an endeavor fraught with potential problems. The key is having a well organized plan and the right professional
    early in the home shopping process. Older houses are not necessarily built to the same electrical or plumbing standards of today. Plus, if they have not been maintained correctly through the years, they can turn into a serious money pit or a potential hazard. That being said, the first thing you need to do is express your wishes with our real estate agent.

    Additionally you want to think about the following when considering buying an older home:

    1. Always hire a professional real estate inspector with and FHA 203K Consultant certification to take a close look at the property and attend your inspection. A professional inspector is trained to spot structural damage or issues that might seem minor, but may cause major problems in the future.
    2. Look for signs of moisture damage. Many old houses have problems with moisture because over the years they have settled.
    3. If the old house you are considering has vintage wiring, such as the knob-and-tube technology that was popular around the 1920s and 1930s, plan to completely update the wiring for your safety.
    4. You might need to add insulation. Many older homes don’t have insulation in the walls or attic, which can increase the size of your energy bill and be sure to talk to your lender about the energy efficient mortgage you're automatically approved for when securing an FHA, VA or Fannie Mae mortgage.
    5. Be on the look out for iron pipes, which were popular up until 1940. They can become clogged with rust and may need to be replaced.
    6. Have the house tested for asbestos, if it was built before the 1960s.
    7. Secure financing with an FHA 203K Streamline or Traditional Mortgage. You can include the cost to repairs and remodeling on these homes to restore their original charm and mix today's modern technology with your home's period features to create a combination of charm and safety. And, don't forget to ask your lender about including up to six months of house payments into your renovation loan. FHA encourages home buyers to take advantage of this ability, so you can remain in your current residence while renovations on your new purchase are being made.

    These are just a few things to which to pay attention when buying an older home.  The experience is best accomplished when you have team of real estate professionals all on the same page, so pick a good one!

  • Tips for Buying an Older Home

    Posted Under: Home Buying in Louisiana, Foreclosure in Louisiana, Investment Properties in Louisiana  |  April 1, 2013 10:56 AM  |  430 views  |  No comments

    Older homes often times offer more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors, antique fixtures and the list goes on.

    Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.

    Buying a house from another era can be a rewarding experience or an endeavor fraught with potential problems. The key is having a well organized plan and
    the right professional early in the home shopping process. Older houses are not necessarily built to the same electrical or plumbing standards of today. Plus, if they have not been maintained correctly through the years, they can turn into a serious money pit or a potential hazard. That being said, the first thing you need to do is express your wishes with our real estate agent.

    Additionally you want to think about the following when considering buying an older home:

    1. Always hire a professional real estate inspector with and FHA 203K Consultant certification to take a close look at the property and attend your inspection. A professional inspector is trained to spot structural damage or issues that might seem minor, but may cause major problems in the future.
    2. Look for signs of moisture damage. Many old houses have problems with moisture because over the years they have settled.
    3. If the old house you are considering has vintage wiring, such as the knob-and-tube technology that was popular around the 1920s and 1930s, plan to completely update the wiring for your safety.
    4. You might need to add insulation. Many older homes don’t have insulation in the walls or attic, which can increase the size of your energy bill and be sure to talk to your lender about the energy efficient mortgage you're automatically approved for when securing an FHA, VA or Fannie Mae mortgage.
    5. Be on the look out for iron pipes, which were popular up until 1940. They can become clogged with rust and may need to be replaced.
    6. Have the house tested for asbestos, if it was built before the 1960s.
    7. Secure financing with an FHA 203K Streamline or Traditional Mortgage. You can include the cost to repairs and remodeling on these homes to restore their original charm and mix today's modern technology with your home's period features to create a combination of charm and safety. And, don't forget to ask your lender about including up to six months of house payments into your renovation loan. FHA encourages home buyers to take advantage of this ability, so you can remain in your current residence while renovations on your new purchase are being made.

    These are just a few things to which to pay attention when buying an older home.  The experience is best accomplished when you have team of real estate professionals all on the same page, so pick a good one!

  • Tips For Buying An Older Home

    Posted Under: Home Buying in Florida, Foreclosure in Florida, Investment Properties in Florida  |  April 1, 2013 10:27 AM  |  487 views  |  No comments

    Tips For Buying An Older Home



    Older homes often times offer more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors, antique fixtures and the list goes on.

    Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.

    Buying a house from another era can be a rewarding experience or an endeavor fraught with potential problems. The key is having a well organized plan and
    the right professional early in the home shopping process. Older houses are not necessarily built to the same electrical or plumbing standards of today. Plus, if they have not been maintained correctly through the years, they can turn into a serious money pit or a potential hazard. That being said, the first thing you need to do is express your wishes with your real estate agent.

    Additionally you want to think about the following when considering buying an older home:

    1. Always hire a professional real estate inspector with and FHA 203K Consultant certification to take a close look at the property and attend your inspection. A professional inspector is trained to spot structural damage or issues that might seem minor, but may cause major problems in the future.
    2. Look for signs of moisture damage. Many old houses have problems with moisture because over the years they have settled.
    3. If the old house you are considering has vintage wiring, such as the knob-and-tube technology that was popular around the 1920s and 1930s, plan to completely update the wiring for your safety.
    4. You might need to add insulation. Many older homes don’t have insulation in the walls or attic, which can increase the size of your energy bill and be sure to talk to your lender about the energy efficient mortgage you're automatically approved for when securing an FHA, VA or Fannie Mae mortgage.
    5. Be on the look out for iron pipes, which were popular up until 1940. They can become clogged with rust and may need to be replaced.
    6. Have the house tested for asbestos, if it was built before the 1960s.
    7. Secure financing with an FHA 203K Streamline or Traditional Mortgage. You can include the cost to repairs and remodeling on these homes to restore their original charm and mix today's modern technology with your home's period features to create a combination of charm and safety. And, don't forget to ask your lender about including up to six months of house payments into your renovation loan. FHA encourages home buyers to take advantage of this ability, so you can remain in your current residence while renovations on your new purchase are being made.

    These are just a few things to which to pay attention when buying an older home.  The experience is best accomplished when you have team of real estate professionals all on the same page, so pick a good one!

  • Chicago ~ RealEstateAuctions.com

    Posted Under: Home Buying in Chicago, Foreclosure in Chicago, Investment Properties in Chicago  |  April 1, 2013 9:58 AM  |  423 views  |  No comments

    Tips For Buying An Older Home



    Older homes often times offer more charm and character than the newer houses of today. They boast gabled roofs, crown moldings, hardwood floors, antique fixtures and the list goes on.

    Buying an old house is like buying a piece of local history. Its beautiful period features can give it a timeless beauty and grace that is hard to resist.

    Buying a house from another era can be a rewarding experience or an endeavor fraught with potential problems. The key is having a well organized plan and a
    the right professional early in the home shopping process. Older houses are not necessarily built to the same electrical or plumbing standards of today. Plus, if they have not been maintained correctly through the years, they can turn into a serious money pit or a potential hazard. That being said, the first thing you need to do is express your wishes with our real estate agent.

    Additionally you want to think about the following when considering buying an older home:

    1. Always hire a professional real estate inspector with and FHA 203K Consultant certification to take a close look at the property and attend your inspection. A professional inspector is trained to spot structural damage or issues that might seem minor, but may cause major problems in the future.
    2. Look for signs of moisture damage. Many old houses have problems with moisture because over the years they have settled.
    3. If the old house you are considering has vintage wiring, such as the knob-and-tube technology that was popular around the 1920s and 1930s, plan to completely update the wiring for your safety.
    4. You might need to add insulation. Many older homes don’t have insulation in the walls or attic, which can increase the size of your energy bill and be sure to talk to your lender about the energy efficient mortgage you're automatically approved for when securing an FHA, VA or Fannie Mae mortgage.
    5. Be on the look out for iron pipes, which were popular up until 1940. They can become clogged with rust and may need to be replaced.
    6. Have the house tested for asbestos, if it was built before the 1960s.
    7. Secure financing with an FHA 203K Streamline or Traditional Mortgage. You can include the cost to repairs and remodeling on these homes to restore their original charm and mix today's modern technology with your home's period features to create a combination of charm and safety. And, don't forget to ask your lender about including up to six months of house payments into your renovation loan. FHA encourages home buyers to take advantage of this ability, so you can remain in our current residence while renovation your new purchase and creating the home of your dreams.

    These are just a few things to which to pay attention when buying an older home, but the experience could be better when you have team of real estate professionals all on the same page and that begins with a plan only a networked real estate agent can create for you, so pick a good one.

  • Five Tips for Home Shopping

    Posted Under: Home Buying in New Orleans, Financing in New Orleans, Rent vs Buy in New Orleans  |  February 8, 2013 4:27 PM  |  495 views  |  1 comment


    There are only a handful of houses that most people consider iconic: the White House, Hearst Castle and for reality TV fans, Spelling Manor, among them.


    One house that virtually everyone regardless of age age instantly recognizes by name: Barbie’s Dreamhouse. As of the week, this iconic property has been listed for sale.  

    Take on look at the listing, and you’ll see precisely why someone with Barbie’s elevated taste level would deem this Malibu beachfront home the house of her dreams.

    What about you and your hunt for your own personal Dream House? The listings of Barbie’s Dreamhouse going on the market seems like an ideal time for us to explore exactly what features make a property that you’re considering a good candidate to be your own personal Dream House.  


    Most Dream Homes will differ from house hunter to house hunter, but I wanted to share a few guidelines to think through as you peruse listings online and go visit them, in real life:

    #1: Is it the right size ~ Your personal Dream House might not be Barbie-sized (3 floors and 8,500 square feet, to be precise), but it will be “right-sized” for you; your family and the activities you want to do regularly in the home. This is a shift from the days in which the conventional wisdom said that more square footage was always better, even if you weren’t going to use it. 

    A too-small home is obviously uncomfortable, contributes to clutter (both material and mental) and can even cause tension in the relationships of the people who live in the home. Too-large and the home can be a major drain of time, energy and cash when you consider what is required to furnish, heat, cool, clean and maintain it. Furthermore, a home might not be “right-sized” if it is full of square footage you will never use because of poor design or flow, like a living room so cut off from the rest of the house that no living ever gets done there, or a formal dining room in a home where everyone prefers to eat in the kitchen. 

    Smart Dream House hunters look for homes that are neither too big, nor too small, for their needs. That means you should try to think five to seven years into the future and understand what would render a particular property right-sized for you.  Consider upcoming probable changes in your family status, size and the space needs of children, both minors and adult children who might return home.  Even aging parents who might want or need to live with you in the not-so-far-off future needs to be considered when Dream Home shopping. 

    #2: There’s a lifestyle-house match. Related to, but different from being right-sized, your Dream House will be one that matches up nicely with your lifestyle. In particular, the ‘who’ and ‘what’ of your life must be a good match with the features, floor plan and location of a home for that property to hit Dream House status. That can mean many things, depending on “who” does and will live in the home, and “what” activities make up their lifestyle, for example:

    • the Dream House of a family with four children might need to be in a great public school district
    • a retirement-aged couple might find their Dream House to be one level
    • an extended family might find their Dream House has a full bedroom with en suite bath on the ground floor, for the grandparents
    • a young couple’s Dream House might have the ability to rent out a room or backyard cottage to help make the mortgage payment
    • a growing family’s Dream House might have discrete spaces for Mom’s office, the kids’ study areas, Dad’s shop and even other activity areas for various children’s hobbies and pursuits.

    At a glance, these things seem obvious, but many a home shoppers only realizes the critical importance of lifestyle-house match once they are moved in and paying the mortgage on a house that:

    • requires much more weekend fixing than they have time or budget to do
    • turns out to be noisier or more burdensome, in terms of the commute to work, than expected
    • is difficult for family and friends to come visit, because of steep entry stairs or paltry guest parking.

    Here’s a right-sizing exercise that also boosts the chances your lifestyle and Dream House will match up.

    • Before you start looking for a home, sit down alone or with your family and do a hypothetical “audit” of all the rooms of a prospective property, envisioning what people and activities will go where.
    • Do you really need a separate room with a closed door for an office, or will a neat nook with an efficient desk system do just as well?
    • Can you carve up a great room into areas for cozy couch conversations, TV-watching, kids’ play and kids’ homework?
    • Can you repurpose a dining or living room into an office or work area, if someone needs that?

    Taking the time to do complete this exercise will insure you have enough space -- and the right kinds of spaces in your Dream House.


    #3: It provides vision fuel.  A Dream House is one that allows you to envision a number of exciting upgrades to your every day life, made possible by the house. To be clear, no house has the power to make your life perfect; I mean, even Barbie’s near-perfect palace only complements her wildly successful careers and uber-gregarious social life (hence, her need for a 15-person rooftop hot tub). 

    That said, there are a number of ways your choice of home can help you realize your dreams and create a suitable environment for your future vision of your life.  For example, urban farmer wanna-bes can select homes that will allow them to flex and foster their burgeoning green thumbs or raise chickens, goats or bees they envision keeping.  Buyers-to-be who dream of having their own businesses can pick properties that have the space for the office, nook, inventory storage space, workshop or client meeting area - not to mention upgraded electrical or other infrastructure your dream home might need.

    Maybe your vision for the next phase of your life is focused on relaxing and traveling more, so your Dream House is a low maintence condo near the coffee shops, yoga studios and restaurants you love.  Or perhaps your vision for the next decade is focused on family and career, so that a suburban home near great schools, with a large yard and an easy commute to work will constitute your personal Dream House. Cultivating clarity on your vision for your life before you start your house hunt is essential, if you’re aiming to buy your Dream House.

    #4: Staying power.  It’s important given the recovering state of today’s economy and real estate market that your Dream Home be one you can see yourself living in for at least 5-7 years.  Whether you know you’re likely to pair up and/or have kids in the next few years or you know you’ll want to downsize or relocate, your Dream House is one that will accomodate both the present-day you and the you you’ll be in the next few years. 

    #5: Resale Appeal.  Barbie’s Dreamhouse is clearly Barbie’s Dreamhouse, as is clear from the fact that it is personalized throughout in her signature pink.  The fact is, colors are cosmetic and can be easily changed by the next buyer to suit their own tastes.  Dream Houses, as a rule, are homes that are easily personalized by whoever owns them at the time, and are not so heavily structurally customized that they lack appeal to a broad segment of buyers. 

    Overly customized homes, especially those without other compelling features that many buyers will see as dreamy, can be difficult to sell. Being stuck in a home when you want or need to sell it is not a dream, it’s a nightmare!

    Finding your Dream Home is what Steven and I are all about.  Be sure to join our Google Plus Real Estate Community and learn more about all the great opportunities in New Orleans, Mandeville, Covington and Slidell
  • What's Up with FHA 203K Network Bloggers in Lake Charles

    Posted Under: Home Buying in Lake Charles, Financing in Lake Charles, Foreclosure in Lake Charles  |  January 4, 2013 6:28 PM  |  754 views  |  2 comments
    FHA 203K Network Bloggers is a network of real estate professionals and mortgage banker working together to connect the dots for Home Buyers and Property Investors.

    We create unique home buying tools on various internet platforms like Pinterest, SlideShare, WordPress and create communities at Google Plus to showcase our client's niche.

    Custom marketing that drives the konversation in social media. We are the top ranked community at Google Plus and LinkedIn Groups for FHA 203K, with fully charged SEO powered network to drive the konversation on all things Real Estate going forward.

    Experience strategizing and executing local and national campaigns that converts internet surfers in to customers.

    Specialties

    Aggressive visionary and brand advocate dedicated to delivering growth and recognition for Real Estate and Mortgage Professionals using social media.

    • Passionate Brand Advocate
    • Animated Marketing
    • Brand & Content Strategist
    • Strategic Planning
    • Effective Social Media Expert

    Our goal is simple. We bring home buyers, real estate professionals, lenders and service providers together on all things real estate and work closely with our members to create community.
    FHA 203K NETWORK BLOGGERS
    Buy Smart ~ Join the Konversation

    The Home Buyer's Advocacy Blog
    http://203knetwork.org

    FHA 203K Network Bloggers ~ Real Estate Marketing
    http://www.linkedin.com/groups/FHA-203K-Network-Bloggers-Real-3897304?trk=myg_ugrp_ovr

    Our blog is an ongoing konversation about all things real estate. Not only can home shoppers find experienced real estate brokers and agents; mortgage lenders and other service providers to help with your home buying needs, our blogs helps you become a knowledgeable home buyer.

    If you’re looking for great homes, take a moment to visit our member's “Homes for Sale” boards and other homes for sale resources we’ve provided to get your home shopping started right.

    Today’s real estate market is in transition and home buyers can find a wide variety to select from. One sector that remains at the top of everyone’s list are distressed homes and short sales, which most likely are in need of repairs. 

    When considering purchasing a home we encourage you to include distressed real estate and short sales. These properties offer little known opportunities to acquire the home of your dreams. We discuss these properties in our blog and you can learn more locally by visiting our “Home Buyer's Korner in your city. 

    Distressed real estate and short sales are normally sold at below market value and further discounts when the property is in need of renovation. The first things that come to mind for most home buyers are:

    How to include “Cost of Repairs” in your mortgage & renovate after escrow closing;

    Defining “Required Repairs” and what are your desires;

    What repairs get the most bang for your buck;

    Locating the right team for your unique home purchasing needs. 

    Our blog addresses these issues and more as you engage us at our Google+ Communities. In doing so, you’ll become an informed home buyer and feel confident understanding relevant real estate topics.

    So that's it! Thanks for taking the time to read through our summary. If you think we're the right network for you, the next step is to join the konversation.

    Our Local Network ~ Join the Konversation

    FHA 203K Network Bloggers @ Google Plus

    Twitter

    Wes McKibbon 
    FHA 203K Network Bloggers 
    wes@203knetwork.org
 
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