With the summer heat of Hernando and Citrus Counties saving on your energy consumption has become a need. Becoming environmentally conscious and saving money at the same time sounds like a win-win.

A ‘green mortgage’ is a mortgage that favors the environment. These green home loans offer environmentally friendly perks. Some lenders offer free energy savings reports, carbon off-setting and cash back for energy saving home improvements. In some cases, lenders will plant a certain amount of trees for each loan, while in other cases some green mortgage lenders will make a donation to environmental causes on behalf of the borrower.

At this time, there are only a handful of green mortgage lenders that will offer a full green mortgage package. In August of 2007, Bank of America launched a “green mortgage program,” called the “energy credit mortgage program,” which will pay $1,000 back to buyers of new homes that meet Energy Star energy efficiency requirements. These types of mortgages are becoming more and more popular since homeowners are becoming more aware of the benefits of making their home environmentally friendly.

To qualify for a green mortgage, look into purchasing a new home that will meet energy efficiency guidelines. Hire a Home Energy Rater, a contractor who specializes in evaluating the
energy efficiency of your home, that will issue a Home Energy Rating System (HERS) report to you. A HERS report estimates energy savings, suggests any efficiency improvements, and gives you an estimate of the cost any improvements that need to be made. Having an environmentally friendly home will not only save you money on your day to day energy consumption but will make money for you in the future by raising your property value.

A lease option to buy means that you will be renting property with an option to buy the property at a future date. The price of the property should be fixed at the time of signing the lease. We see more and more lease-options during a slow real estate market. Sounds like a great deal for someone who doesn’t have that initial down payment that you need when buying a home from the beginning, or whose credit rating isn’t 100% at the moment.

This type of deal is one that attracts first time buyers, but the reality is that people who attempt to buy homes on a lease-option very rarely end up buying the home. The reason for this is often the same reason they chose to lease-option in the first place. Because they can’t qualify for a loan. Some people expect that after leasing a home for a few years they will be able to qualify. However, later they find out that they still do not qualify, when this happens you lose all the money that you may have paid up front plus the above market monthly rent payments that you have paid while leasing the home. Some find that they are now far less able to afford a home than they were when they signed the lease-option.

It is always far better to put your trust into your real estate professionals knowing that they will be able to place you in a home that is right for you.

Take time to be prepared before you meet with your mortgage lender or you could end up on a wild goose chase looking for documents. Document hunting can be very time consuming and frustrating for both and and anyone else involved in the mortgage process. Ask your banker or your broker to supply you with a complete list of all the documents required to complete the application process and have them ready before your meeting.

Chances are you will be asked to sign an Authorization to Release Financial Information Form. You mortgage lender will need this form to get your credit report and other pertinent financial information.

You will be asked to supply income verification. If you are self-employed you may need to sign a Tax Information Authorization form which allows your lender to request a copy of your tax returns. If you are not self-employed, bring payroll stubs from the last six months. If you don’t have these, your employer should be able to provide them for you. You should also be prepared to bring in your tax returns from the last two years.

Make a list of your credit cards that you use and sort it out by type, balance due, available credit limit, and minimum monthly payments.

Have a list of all your assets such as IRA accounts, securities, bank accounts and personal property. If you own other real estate bring addresses and any market value information.

Bring a list of your employment and your residences from the last two years. Mortgage lenders want to see some form of stability.

Don’t give any of your original paperwork to mortgage lenders only give them copies.

One of the perks to living in a gated community is that there is no through traffic. With less traffic your children are a little safer when riding their bikes, walking to the park or headed to the bus stop. Another perk to living in a gated community is less crime. There are different levels of protection you will find in gated communities ones that always have a guard on duty to check ids and communities that have an automatic gate that opens and closes with a swipe of a residents’ card or a known code. It’s very easy to get into the gates without a guard on duty, just by waiting for someone else to go in the gate first. Take that into consideration if you’re looking for better security. Also on the pro side of buying in a gated community, home values hold up very well and they tend to have higher price tags than similar homes outside of gates.

Some of the drawbacks to living behind gates is the feeling of being “locked in” and always having your comings and goings monitored by a guard. Having to wait for the pizza guy or the service company while they are being “buzzed” in. There are also maintenance costs and dues in many of these gated communities. Pay heed in buying properties that are located just inside the gates, or within view of the gates, these properties may lessen in value.

When comparing the price you pay of hiring an experienced real estate attorney to the price you pay with the lack of legal representation, the several hundred dollars to hire an attorney is one that should not be eliminated. The money that you saved without legal representation could end up costing you double, even triple with the tiniest of overlooked errors. Your CENTURY 21 Alliance Realty agent will have experience in this area and will be able to help you with this decision.

Consider retaining an attorney who specializes in residential real estate. Even if you have a friend or relative that is an attorney, they might not be familiar or updated with the laws in residential real estate contracts.

Have your real estate attorney look over any contracts that you sign. Most contracts allow for a attorney review period of at least five business days. Determine that your contract allows for this review period, if it is not the case with this specific contract, have your attorney review the contract BEFORE you sign. During this time period, you will be able to make changes that are necessary, or even void the contract.

Check on the legal description of your property to make sure that it has been updated. Have your attorney look this over to catch any mistakes that could have an impact on the property that you are buying/selling.

Request a title insurance policy. The history of the title will be provided and should be reviewed by both sides attorneys to look for any possible irregularities before the title insurance is delivered. The buyers attorney can request that any questionable items be removed or insured by the insurance provider.

Your attorney should receive and review the property survey before closing or escrow to check for encroachments, easements and to verify lot dimensions.

Your attorney should attend the closing or escrow to verify the smooth transfer of your property. Most attorneys will want to review all of the recorded documents related to the sale of a property AFTER they are recorded, to verify that they were recorded as agreed to at the closing. These documents included the title, deed, mortgages, and satisfaction of mortgages.

An experienced real estate attorney that has handled and most likely seen it all in real estate, is your best asset when a closing a deal!!

Whether you’re looking to buy, sell, rent, or upgrade your existing home, timing is important. Upgrades to existing homes are best done during a “down” market, as tradespeople and suppliers can provide timely and cost efficient work and products. As the market begins improving, those upgrades can begin to pay off both in increased equity, and return of investment if selling. The most common signs of an improving market are:

Fewer ‘for sale’ signs
Job growth
Increased affordability
End of price reductions, concessions
More new construction
Look at your neighbors – Are they investing in renovations/upgrades?

We are currently seeing an increase in commercial construction, which results in job growth. Our local market prices have stabilized, allowing for increased affordability.
More homes are selling, resulting in less concessions and price reductions, and fewer homes for sale.
With these local factors in place, those waiting for the “bottom of the market” to buy should make their purchasing decisions soon, as the current “bargains” in our marketplace will begin to be absorbed.

Existing-home sales rose 2.9 percent to a seasonally adjusted annual rate of 5.03 million units in February. The sales pace has been in a fairly narrow range since last September.

Lawrence Yun, NAR chief economist, says the gain is encouraging. “We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” he says. “Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should go positive later this year.”

Now that global warming is no longer a theory, but a scientific fact, the onus is on everyone to do their part. And moving to a new home is perfect time to start. Think of it this way – you are starting with a clean slate. Why not make choices that are not only good for your home, but good for the planet too?
Here are five ways you can “green” your new home.

1. Change your light bulbs. Compact fluorescent bulbs now come in a variety of shapes and sizes. Although these versions cost more than incandescent bulbs, they will last longer and use 66 percent less electricity.

2. Choose appliances with the Energy Star label. This sticker indicates the machine exceeds federal standards for energy consumption or has energy saving features. Look for the label when purchasing washers, dryers, refrigerators, air conditioners, dish washers, etc.

3. Control your temperature. Installing a programmable thermostat helps you save money and conserve resources by better regulating your heating and cooling.

4. Start a compost pile. Reduce the amount of trash in landfills by turning your own scraps into quality soil. Compost kits and boxes are available for purchase. It is an easy way to make difference.

5. Adopt a new attitude. Set the tone for your family that the environment is important. Following the slogan, “Reduce. Reuse. Recycle.” can really make in impact now and for future generations.

Question : Why do people decide to own a home?

There are many reasons people decide to buy the homes they do. Sometimes it is an expansive property on a quiet street that draws them. Other times it is the prime location in a busy city that seals the deal. But no matter how much people love a home, they are always eager to add their own special touches that will make it their own.

Here are three very simple things you can do to personalize your space.

1. Display the things you love. Your home should tell a story about you and your life. You want visitors to be able to look around and learn something about you. One of the best ways to do that is to display meaningful collections. For instance, if you collect antique post cards, hang a fabric memo board on a wall. Then you can arrange your favorites there for others to enjoy. Better yet, keep a box of others nearby so you can change the display for the seasons, the holidays or even your mood. This is a great way to share something you enjoy.

2. Surround yourself with meaningful photographs. Nothing personalizes a space like displaying photos of those you care about. Arranging framed photos on walls or grouping them on a table top are two great ways to make a space feel like home. Another tip is to unify photo displays in one area using the same style and color frames. For instance, in a bookshelf display, use all silver frames, some with cream-colored mattes, to show off your favorite snapshots. For other ideas on how to arrange photos and other pieces of art, look through design magazines and catalogs. Use the work of those professional designers as your inspiration.

3. Painting a room can make a dramatic impact. When you choose the colors around you, the house is bound to feel more like home. But if you don’t have the time or resources to paint the entire room, make a statement by painting one key wall in a bold color that sets the tone for the rest of the room.

To learn more about Real Estate ownership visit c21.com

HB 111 by Rep. Bill Galvano (R-Bradenton) amends the definition of “primary title services” and “related title services,” and codifies a civil court case that permits a portion of a title insurance premium to be rebated. Already signed by Gov. Christ, it becomes effective Oct. 1, 2007.