Whether you have a big backyard or a small space to call your own, here are some great ideas from HGTV for making it a fun and inviting place for you and your family:

Thinking of buying a bank-owned property? There are many tempting deals out there. But many buyers aren’t prepared for the time involved in purchasing a home that’s been repossessed by a bank.

That doesn’t mean you shouldn’t buy. But you should be prepared for a process that will undoubtedly try your patience.

For starters, buying from a bank can be a slow process. Once you make an offer, it can take days or sometimes weeks for a response. Though some banks work quickly, others do not. In some cases, the offer and counteroffer process could take quite a while.

There’s one more thing you should expect: Little information from the bank about property conditions. Banks don’t issue the same property disclosures that are required of ordinary sellers. So a home inspection is a must. Although banks typically sell a foreclosure property ‘as is,’ it’s important that you understand what kind of house you’re getting yourself into before signing the paperwork!

Are foreclosures worth the added hassle? Ultimately, bank-owned properties can be a source of bargains. But there are plenty of other ways to get a great deal, too. Give us a call and we can help you find the best deal for you and your family!

A recent survey of homeowners and home buyers by real estate website Zillow makes one thing very clear: Many people are confused about mortgages. And by being befuddled, they may be missing out on a historic opportunity to buy a home or refinance. Here are three key mortgage myths – and what borrowers really need to know:

You can’t get a mortgage these days without a big down payment. Nearly one-third of home buyers in the survey said they don’t think it’s possible to buy a home for less than 5% down. That’s simply not true. Loan programs offered by the Federal Housing Administration, the Department of Agriculture and Veterans Affairs enable lenders to offer low- and no-down payment loans to qualified borrowers.

You have to wait a long time to buy a home if you have gone through a short sale or foreclosure. A third of homeowners in the survey expected to have to wait at least seven years to buy a home again after a foreclosure or short sale. The reality? Some homeowners who have sold their homes via a short sale or lost their properties to foreclosure are buying homes again in as little as two to three years. It all depends on your income, how responsibly you’ve handled your finances since the short sale or foreclosure and how much money you’ve saved.

You can’t refinance if you’re underwater. In the survey, about one-fifth of homeowners said they didn’t know that they can refinance their home loans if they are underwater, meaning they owe more than their homes are worth. The truth is that there are a number of options available for homeowners in this situation through the federal Making Home Affordable program.

Is there anything about mortgages you are confused about? Give us a call – we’ll be glad to help!

Buying a fixer-upper? Whether you have a small remodeling job ahead of you or a complete overhaul, you’re always much better off with a plan. Here are some tips for coming up with a plan to help you succeed:

Decide how much you’re going to spend. Make a plan for exactly what needs to be done on your property and set a budget. Don’t forget that home renovation projects are notorious for going over budget. You’ll want to allow for a cost overrun of 10 to 12 percent; more if you are purchasing a distressed property on an as-is basis that could have some defects you don’t know about.

Go neutral. If you’re fixing up a home you plan to live in over the long term, by all means select the colors, textures, window coverings and appliances that you like. But if you are going to be selling your property in the near future, you may want to select neutral accents with the most widespread appeal.

Find good help. Do your homework when hiring contractors. Many people fail to check out a contractor’s licenses and references. Don’t skip this important step.

Negotiate a detailed contract. A contract can make it clear for all parties involved. Include a start-date as well as an estimated completion date, and details about all the services being rendered. Spelling this out at the beginning can keep you and your contractor on the same page and prevent miscommunication.

Think ahead. You could be living in a construction zone for weeks. Try to schedule major work at a time when it will have the least impact on your daily routine.

Speak up. Contractors can produce some amazing work, but they won’t know exactly how you feel about it unless you tell them. If you find something along the way that surprises you, or something that you don’t like, mention it as soon as possible. You don’t want to get to the end of a remodel and have something become permanent that could have easily been fixed before the project was finished.

Give us a call. You’ll want to make sure you’re properly insured while work is being done. After you’ve completed your renovation project, we also can review your homeowner’s insurance policy and make sure you still have the right amount and type of coverage for your newly renovated home!