Lynn D'Avolio
Coldwell Banker Residential Brokerage | 801-597-2857 | lynn1@soldbylynn.com


Posted by Lynn D'Avolio on 3/5/2013

If there was ever a time to purchase real estate it is now. A unique combination of circumstances makes buying a home a no-brainer. Here are five reasons why you should buy a home NOW...   1. Houses are more affordable 2. Historically low mortgage rates 3. Prices are stable 4. Home ownership is the path to independence and wealth 5. Owning a home gives you pride of ownership Call today to find out what homes are available in your price range or do a quick search to look for homes and create a profile on this site to save your favorites.





Posted by Lynn D'Avolio on 2/19/2013

There are so many things to think of when buying a home. It can be difficult to think of everything when you are house shopping. When you tour potential homes it can be easy to get caught up in things that may not be as important after you move in like storage, parking, and privacy. When home shopping you should make a checklist of the things you must have in a home so you don't get caught up in the new granite countertops or the beautifully decorated master bedroom. Think function over style when making a buying decision. Here are some things you may want to consider putting on your must-have list. Storage When walking through a home make sure to make note of the amount of storage. A good staging job can disguise a home with too little storage. Imagine the home with no furniture and picture your furniture and belongings in place. If you are seriously interested in the home bring a sketch pad and measure the rooms and draw a quick sketch of walls, doors, windows and closets. Location Consider the location of the home to places you frequently travel. You may only be a few miles from the store or work but what is the commute like? Do a practice run at rush hour from the home to your work. If you are moving near public transportation give that a try too. Make sure to try the commute both ways. Enough Power and Water Imagine waking up the first morning in your new home and finding out the water pressure is barely enough for a shower or the water gets cold half way through.  It is important to determine if the plumbing and wiring can accommodate your lifestyle. Check the size of the hot water tank and run a few plumbing items at a time to check the water pressure. Talk to your home inspector about the electrical system. Make sure the home inspector knows the kinds of electrical equipment you run and the number of people that will be living in the home. Privacy Many buyers overlook privacy until it's too late. Try to spend some time in the house. Look out the bathroom and bedroom windows and test what you see. Do a walk-through of the home and pretend to go through your day. Sit in the back yard and on the deck to see and listen to the neighbors.




Categories: Buying a Home  


Posted by Lynn D'Avolio on 12/18/2012

Buying property can definitely be a very lucrative investment. However, before you decide on buying and selling real estate, you have to have a good understanding of the markets. In other words, if you are looking to buy so that you can sell down the road to make a profit on your real estate, then you are better off achieving this when the housing market is slow, as there is less demand for buying houses, thus forcing sellers to lower their prices. This in turn will allow you to get a home at the lowest price possible, and then being able to sell it at a higher price once the markets begin to move again. Of course, investing in real estate is not only about the current conditions of the housing market. In addition, you also have to look at other factors such as the location the real estate will be in, the condition of the real estate, and the reason why the owner is looking to sell. In the end, buying and selling real estate carries the same risks as any other type of investment, and the only way to avoid these risks is through proper research. More importantly, you will be spending a good amount of money on real estate compared to other types of investments, and so you want to make sure that your money is well spent. By keeping these valuable points in mind, you will be able to find the right property to invest in.





Posted by Lynn D'Avolio on 10/23/2012

If you have been dreaming of owning a vacation home now may be the time to buy. Home prices and mortgage rates continue to fall and there are some great deals for buyers looking for a second home. Here are five things you need to know before taking the leap. 1. Prices are at all-time lows In many second-home hot spots, prices are still close to their five-year lows. When the real-estate bubble burst, some of the hardest-hit markets were vacation destinations. Many vacation home areas experienced overgrowth and may now be suffering from foreclosures. 2. Think ROI Consider the possible return on your investment. Whether or not you decide to rent the home out, you will want to consider buying a place that has good rent potential. That's because a home's rent ability can affect its resale value. Before you bid on a house, make sure the homeowners association or township allows short-term rentals. 3. Don't count on rental income If you are planning on counting on rental income to cover the costs beware. According to HomeAway.com, a typical second home property rents out just 17 weeks a year. Make sure to account for the weeks the home won't rent. Plus, you'll need to pay for cleaning, maintenance, insurance, and maybe management fees. Make sure to plan on the maintenance costs of the property being at least 15% of the income. 4. Your mortgage rate depends on how you use the home How you use the home depends on the mortgage rate you will receive. If you plan to use the property primarily as a second home and you'll pay about the same mortgage rate as you would on a primary residence. If your plans are to use the home for rental income and need that income to qualify for the loan, you'll need to have as much as 25% for the down payment and pay up to one percentage point more in interest. 5. Take advantage of tax benefits Talk to your tax guy before you buy. If you rent the home out for two weeks or less you won't have to report a cent of income to the IRS. The good news here, you can still deduct property taxes and mortgage interest. On the flipside, if you stay there for less than two weeks or 10% of rental days, you can deduct operating costs in addition to interest and property tax. But where should you buy? According to CNBC here are the top places to buy a second home. If you are thinking about buying a second home I can help you find a professional agent in that area.





Posted by Lynn D'Avolio on 9/25/2012

To buy or not to buy that is the question. There are reasons for or against homeownership on both sides of the fence. So here are the pros and cons of buying a home. You decide... Pros: 1. It Costs Less- With record low interest rates, and low home prices a mortgage payment on a house can be less than a rental payments. 2. Equity -If you own a home rather than rent you are building equity. If you pay rent you have nothing to show for it. If you own a home you are building equity. Even if housing prices stay flat part of your mortgage payment goes towards the principal balance and eventually you will own the home. Cons: 1. You Could Get a Better Money Return-A home may not be the best return on your money. You may find a better return on capital in the stock market. If you are just looking at it in a strictly financial way there are better investment strategies. Historically, the S&P 500 has returned an average of 13.4% -- 4.8% higher than the 8.6% average return on housing. 2. It is a Big Commitment-You can't just sell your house and move quickly. It is a long term decision. If you job requires frequent moves this can be a significant consideration. Now that you have seen some of the pros and cons the decision is ultimately up to you and what is best in your circumstance. The pros cannot be disputed. Low rates and prices almost make buying a no-brainer if it fits within your financial situation.