My New Blog

Homeowner warranties
A home warranty pays repair or replacement costs for the mechanical systems and built-in appliances that break down in a home. Warranties can be purchased by either the buyer or seller. When the seller is paying for the warranty, it is usually paid for and goes into effect at closing. The coverage period is normally one year. There are a lot of companies offering home warranties and coverage of individual policies can vary widely. Usually, central heating and air conditioning systems, electrical, plumbing and major appliances are covered. It's important that you read the policy closely and understand what is and is not covered.  The cost for a one year home warranty typically runs between $300 and $600, depending on the size of the home and the specific types of coverage.  In addition to the policy premium, there is normally a deductible of $50 - $75 to pay when making a repair claim.  

There are some very good reasons to pay for a home warranty when selling your home.  Providing a warranty can help set your home apart from the competition. Buyers will appreciate having a warranty and will feel more comfortable about buying your home without worrying about hidden problems. Providing a warranty can even result in a higher price, offsetting the cost.  Certainly it can make it easier for a buyer to make an offer. These assets make the home warranty an excellent marketing tool.  

In addition to marketing advantages, you could also avoid getting sued down the road.  When a major appliance, heating or air conditioning system goes bad shortly after a home is sold, it's not uncommon for the buyer to blame the seller. Unfortunately, this can and does lead to lawsuits. Providing a home warranty with the sale of your home can go a long way towards preventing these types of suits. In some areas where lawsuits are particularly common, almost all homes are sold with a home warranty included.  

If you are buying a home and it doesn't come with a warranty, you may want to consider paying for one yourself. The first year after buying a home is a time when most people don't have a lot of cash on hand to cover problems that might arise. Having a one year home warranty in place can provide peace of mind during this time, and if something does break down, could really save your budget.

Hazel Sun

Getting the Best Price for Your Home

One of the most important elements of marketing your home effectively is setting the price right. Set the price too high, and you won't get any offers and your home will take too long to sell. Set it too low and you cheat yourself by not getting your home's full, fair value. As an expert in Winter Park area real estate, I analyze the market and set area home prices every single day. I'll work closely with you to assure that everything possible is done to get the highest price, in the time frame you need.

The condition and appearance of your home are also critical factors in getting the best price for your home. I'll personally walk through your home with you and advise you of what you can do to properly stage your home most effectively. Some areas are much more important and more likely to pay off than others! Often, the buyer is motivated by emotional responses as much or more than financial issues. There are usually things I can point out to you that are easy and inexpensive, yet go a long way toward triggering those "buy" emotions.

As your agent, I'll negotiate furiously on your behalf throughout the entire process to ensure that your best interests are protected. Real estate negotiations and contracts can be intimidating in their complexity. Most people have almost no experience in these negotiations. After all, how often do you buy or sell a new house? As a top real estate professional, getting you the best terms and prices in all negotiations is simply part of my job.

Gated Communities

The popularity of living in gated, or private communities has been rising in recent years. It used to be that gated communities were thought of as being only for the rich. But today they are becoming more and more popular with middle and upper middle class families. Security is usually given as the biggest reason for choosing to live in a gated community. Among the other reasons people are attracted to living in these communities are protecting property values and lifestyle.Many gated communities are designed with amenities built around a particular lifestyle, with golf courses, tennis, swimming pools, or equestrian facilities.Gated communities are usually located on some of the most desirable land in the area. Prime land, combined with careful planning and HOA rules create an environment where home values hold up extremely well.

Aside from the gates or walls, the second most defining characteristic of gated or private communities is the Homeowner’s Association (HOA).The HOA is made up of all the owners of the development. The HOA is responsible for collection of the Association fees and making and enforcing the “rules” of the community.It is often also responsible for maintaining the public aspects of the community, such as streets, security, parks, etc.

The rules set by the HOA can vary a great deal, depending on the individual development.Typically the HOA will have rules pertaining to upkeep and appearance of homes within the development, specifying the colors of paint on outside walls, types of fencing, guidelines for landscaping and storage of boats or recreational vehicles.

Gated communities aren't for everyone.But with strong protection of property values, increased security, less traffic and amenities for your specific lifestyle, they are appealing to more people each year.

Hazel Sun

Why you should choose Hazel Sun to be your Buyer's Agent

For most families, choosing a new home is the biggest financial decision they will ever make. There are many complicated decisions involved in choosing your new home. To protect your interests and assure that you make the best possible decisions, it's important that you have an agent on your side who is an expert in the local real estate market.

As your agent, my focus is on getting you the best possible home at the best possible price. I will work hard not only in finding you potential new homes to see, but also in keeping you informed of everything that takes place. As your agent and a top expert in the local market, I'll negotiate the best prices and terms for you and answer all of your questions as they arise. I'll be representing you, not the seller. This assures that my experience and expertise in the local market will be used in your best interests during the negotiation process.

Verifying Your Down Payment,
Closing Costs, Assets, Income and Debts

A critical step in the mortgage loan application process is to verify the sources for your down payment, closing costs and assets, as well as documenting income and debts. The lender uses this step to determine your qualifications as a borrower. 

Down Payment & Closing Costs

Documenting that the down payment comes from your savings and that you will have savings and/or assets over and above the down payment gives the lender confidence in your strength as a borrower and your ability to repay the loan.

Take extra care to document the sources for any monies to be used for the down payment or closing costs.

Acceptable Down Payment & Closing Costs Sources

• Cash in a bank account
• Mutual funds / stocks / IRA / 401(K)
• Proceeds from the sale of another property
• Gift from an immediate relative
   

Assets

Collect information about your personal assets that add to your net worth and help to prove your credit worthiness.

 Common Assets Considered in a Mortgage Loan Application

• Stocks, bonds, mutual funds, 401(K) and retirement accounts

• Life insurance

• Personal property estimate - cars, boats, antiques, jewelry, etc.

• Other real estate or property

Income and Employment

The lender will want to confirm your current gross income and have evidence of stable employment. Documentation requirements vary depending upon a number of factors - including the source of income (hourly, salary, salary + bonuses, salary + commission, commission, self-employed, etc.).

Debts

Your lender will want to review a list of all your current debts. This along with your credit report will provide the lender with a snapshot of your obligations. The lender will want to confirm that you will not be overextended when the mortgage payment is added to your current debt load.

Hazel Sun