Photography Tricks To Watch Out For When Buying A Home Online

Photography Tricks To Watch Out For When Buying A Home OnlineWith COVID and social distancing keeping people apart, buying a home in person has become a real challenge. Digital tools and online presentations of homes for sale have ramped up in response, making it possible to see properties with both static images/photos and with “360 degree” views or interactive walkthroughs. However, these are not real-time images of the home itself. They are professionally-developed representations of a property, and a lot of software work goes into making those images marketing ready.

Photographic Tools of the Trade

If a listing has included images created by a professional photographer, he or she will have used a number of resources to produce what a consumer sees. First, the camera will be a high-grade, professional unit with enhanced features in it for different lighting aspects. It may be likely that 20 to 30 individual shots were taken and possibly merged to get the “right” image.

Once the raw image set is identified, the photographer will then use processing software to enhance the image. This includes features like further lighting changes, straightening of vertical and horizontal levels in the image, color saturation and vibrancy, and spot or mistake fixing. In short, the room or home in the image won’t be the actual, exact room seen in real time. Additional work can be applied on clouds and background, such as seen in external property photos, and mask layers can even be applied to add in elements that were never in the original photograph when snapped.

Spot-fixing is a frequently-used digital effect that hides blemishes otherwise visible in a photograph. It’s very easy to do, and the matching by the software blends the targeted image part with surrounding material, so the end result looks natural and unedited. This can cover up wall stains, dents or sagging, cracks, carpet blemishes and a lot more.

Videos Aren’t Much Better

Another typical photo-based display of homes tends to be video. Folks often believe videos are more accurate and better than photographs in judging a property. However, keep in mind there is an extensive set of tools for digital video editing available, and most film professionals know how to apply similar lighting, color, and changes to film as well as how to edit and present the best image versus cropping out and removing snippets of questionable coverage. The big problem with video is how much of it can be changed with multiple video shots streamed together to look like one view or one time period.

Photographs Hide Staging

Another big issue with newly-built homes as well as used homes for sale is staging. Photographers work with sales teams to stage and present a what-if view of a home for sale that can be very different from the actual product received once the escrow is completed. Unless you see the photographs in raw form, you really don’t know what you are buying without physically visiting the property.

Bottom line, try to avoid buying a home without seeing it in person. If you do need to purchase remotely, use a third party you can trust to obtain independent images that are not professionally altered, or you may be unhappily surprised with the difference between a listing’s marketing images and your actual new home.

3 Things You Must Do after Inheriting a Home

3 Things You Must Do after Inheriting a HomeThere can be a lot of excitement when it comes to the realization that you’ve inherited a home, but simply because it’s an inheritance doesn’t mean there aren’t a few strings attached. Whether you’re expecting to be gifted with a home in the future or you’re currently going through this process, here are a few things you may need to watch out for.

The State Of The Mortgage

Once a home has been effectively handed over to you, it’s important to determine the status of the mortgage with the lender and if anything is still owed. While you have the option of taking over the mortgage in a lot of cases, in the event that there’s a reversible mortgage or you’re choosing to rent it out as a second property, you may not be able to transfer the mortgage. While this can often be a rather seamless process, if money is owed there can be other factors to consider.

Determine If You Want It

If you already have a first home and don’t want to take care of your second property as a rental unit, it’s important to realize that keeping the home may not be the best decision for you. While you have the option of organizing a short sale if you’d like to get it off of your hands, you can also contact a real estate agent who will be able to provide you with advice on how to proceed if you’re unwilling (or unable) to take control of the property.

Is It In Good Condition?

Whether you want to keep the home or not, there can be cases where it’s not even a question if it’s a home that you’re going to end up investing money into without much return. In the situation that a lot of money is owed on the house or there are serious issues with its general condition, you may want to release yourself from the inheritance and move on with your financial situation still intact.

There can be an instant feeling of acquired wealth in the event that you’ve inherited a home, but a home in bad condition or that you don’t want to take care of can end up being more of a headache than anything else. If you’re currently considering your options when it comes to a home inheritance, contact your local mortgage professional for more information.

Important Legal Tips For Homeowners

Important Legal Tips For HomeownersBeing a homeowner is exciting. It can be financially rewarding, too. Unfortunately, it can also put you in a tough legal position. Between the complexities of owning a house, having to deal with lenders and the risk that comes from owning something valuable, keeping yourself legally protected is a good idea.

Here Are Some Risks — And Some Ways To Handle Them.

  • HOAs. If you own a condo, townhome or other property in an association, the homeowner association is extremely powerful. Not paying their dues, violating their rules, or doing just about anything else to end up on the wrong side of them could leave you subject to fines or even foreclosure.
  • Neighbors. Whether or not good fences make for good neighbors, bad neighbors make for legal problems. Before dealing with your neighbors, research your community’s laws to see what options you have to deal with their unlicensed backyard dog breeding facility, teenager that steals your oranges or their tree that keeps breaking your window. It’s good to know what your responsibilities are as a neighbor, as well.
  • Legal Paperwork. Part of having a house is having paperwork. Keeping it in a safe place where you can get to it when you need it is always a good idea.
  • Being A Landlord. If you’re thinking about moving out and turning your house into a rental, take the time to see if you can really do it. Your mortgage, your homeowner association bylaws and your community’s laws can all either prevent you from renting out your house or can impose conditions or extra costs.
  • Financial Scams. When you own a house, you’re at risk of being the victim of mortgage scams. If you also have strong credit, you could also be a target for identity thieves that want to steal your good name to steal money.
  • Insurance. Your insurance does more than pay if something happens to your property. It can also give you liability protection that pays off if you harm someone at or away from your home. Given that you could lose your house in a suit, this protection is particularly valuable.

Being a homeowner requires more than just mowing the lawn and painting on occasion. You will also want to pay careful attention to your legal exposure and manage it. A little bit of care could save you a lot of money and trouble down the line.

Buying a New Home? Follow These Three Tips to Ensure a Stress-Free Transaction

Buying or Selling Your Home? Follow These Three Tips to Ensure a Stress-free Real Estate TransactionBuying real estate and or taking out a home loan is a significant milestone in life. Frequently, it means that a new phase is starting, whether it’s a new job, a new relationship, or moving to a new area. However, when the most basic steps are missed, this transition can be fraught with stress and disaster. To ensure a smooth transaction, home buyers should be sure to mind the following tips.

#1: Always Be Honest

Honesty and clear communication need to be a two-way street. Home buyers expect their mortgage professional to be honest with them, and likewise it is always necessary for a home buyer to be honest with their mortgage professional.

Hiding details or covering up potential problems by either party will only cause more issues when everything comes to light. When important information is withheld, it’s possible for delays to occur, costs to rise, or even for the deal to fall through.

It’s much better to disclose all necessary information upfront so the situation can be handled appropriately. An expert mortgage professional will be able to guide home buyers through any problems and issues to a workable solution.

#2: Hire A Professional Team

Buying real estate and taking out a mortgage is not an easy process, so it’s never a good idea to try to proceed without a professional who can be trusted.

Far too often, people let friends or family members represent them in real estate transactions. In these cases, it’s likely for feelings to be hurt, relationships to be damaged, and trust to be compromised.

Rather, it’s recommended for home buyers to use a real estate agent and mortgage professional they do not have a close personal relationship with. That way, they can stand confident that their agent or mortgage professional is looking out for their best interests, and nothing else.

#3: Understand The Market

Far too often, home buyers fail to understand the market and their finincial situation.

Failing to identify this crucial information will waste time for buyer and mortgage professional. However, this is where a real estate agent or mortgage professional comes in: he or she will know the market inside out and be able to offer valuable counsel for all financial situations.

Home buyers should call their mortgage professional if at any time they have questions about taking out a mortgage; this professional is the key to a smooth real estate purchase.

Planning On Getting A Mortgage in 2021, Take These Steps

Planning On Getting A Mortgage in 2021, Take These StepsAs we move into 2021, there are a lot of people who are thinking about getting a mortgage. Even though it is a great time to look for a home loan right now, it is also important for everyone to make sure they place themselves in the best position possible to be successful. It is important to take the following steps for those who are interested in applying for a new home loan this year. 

Calculate Your Budget Carefully

First, it is important to take a look at the budget carefully and find a mortgage that is affordable. Remember that the mortgage payment isn’t the only expense that comes with owning a home. It is also critical to think about real estate taxes and homeowners’ insurance, which is often included in the monthly payment that goes back to the lender. Then, do not overlook the importance of utilities. Some of the most common utilities include electricity, water, gas, cable, and internet. Before looking for a home loan, make sure to calculate the budget carefully. 

See If Extra Payments Are Possible

When people first take out a home loan, the majority of the monthly payment is going to go towards interest. Then, at the end of the loan, the majority of the payment is going to go towards the principal. Those who are able to afford to make extra monthly payments will be able to attack the principal directly. The faster homeowners are able to pay off their home loans, the less they are going to pay in interest over the life of the loan. Any homeowner that is able to make extra payments should consider doing so. 

Don’t Forget To Deduct Mortgage Interest From Taxes

Anyone who is looking for a way to reduce their tax liability should consider taking out a home loan. There are lots of tax breaks that are available to people who own a home; however, for many homeowners, the biggest deduction is going to come in the form of mortgage interest. This can significantly reduce the amount of money that homeowners have to pay in taxes. Be sure to speak with the lender to learn more about the relationship between mortgage interest and tax deductions.