One way is the Natural Hazard Disclosure form that the seller is required by state law to provide in their disclosure package.
You could also look at a map. Find your property using this interactive map of FEMA flood hazard zones.
Have you heard? Airbnb and the real estate analytics gurus RealPage have announced an exclusive collaboration on a home sharing app that will make it easier for renters to sublet their apartments and make money while giving property owners a share of the action. It’s called Migo, and it could be a gamechanger for the real estate industry. Learn more from Forbes.
We know what you’re thinking: Buying a brand new home sounds like a dream. No creaky floors, no skeletons in the closet, and no surprises in the crawlspace. But you can’t judge a book by its cover. Just like old homes, new constructions come with their own set of potential pitfalls. We suggest you have the home professionally inspected before making any commitments.
The most important thing to remember when you’re buying a brand new construction is that you can’t take anything for granted. A builder will recommend their preferred lender, but shop around for multiple quotes to be sure you’re getting the best deal. And watch out for hidden defects, missing necessities, and pricey upgrades and upsells. Here’s more advice to help you through.
“Courage is not the absence of fear. It is acting in spite of it.” - Mark Twain
We often have clients who can’t seem to pull the trigger on buying a home. They may be perfectly qualified and in an excellent financial position to make the purchase. What gets in the way? Fear. Fear of losing a job, suffering a life-changing injury, or other reasons they might prevent them from paying their mortgage.
When we encounter these moments of analysis paralysis, we remind our clients that you can’t let fear of the unknown prevent you from realizing your dreams and enjoying your life.
Based on early returns from 2021, national real estate economists are predicting a surge in supply from new home construction, the winding down of mortgage forbearance due to COVID-19, and a higher level of consumer confidence thanks to widespread vaccinations.
Higher home prices and higher mortgage rates will also create less demand. That means properties will remain on the market longer, leading to less hurried decisions for homebuyers. Meanwhile, rental prices will slowly increase with inflation. (More in Number Talk later this week!)
