Ralph E. Fisher III

If you're worried about the condition of the roof on the St. Louis home you want to buy, you may need a roof inspection. Although some states don't require that a roof inspection be included in the real estate contract, it's often better to be on the safe side and get the roof inspected.

Just what is included in a roof inspection? Here's a short list:

What Is The Roof on the St. Louis Home Made Of?

Roofs are commonly made of composition shingles, wood shake, or clay tiles. The material the roof is made of can determine the life of the roof. Tile roofs can last as long as fifty years, while wood shake has an expected "useful" life span of forty years. Roofs made of composition shingles can last twenty to forty years, and are often under warranty for that amount of time.

How Many Repairs Have Been Made?

The roof inspector may also get a count of how many layers are on a roof. Some states require that the roof be completely removed and replaced at certain levels. The inspector will verify that previous roof repairs were done correctly and with the right materials.

Is There Any Roof Damage?

When inspecting the roof, the inspector will look for any slight movements that would indicate loose shingles or tiles. He'll look at the ridges of the roof and around the edges to gauge any damage.

The added expense of a roof inspection may seem steep, but it's worth the cost to ensure that your roof is in good condition.

Thinking of buying? Let me help you find a St. Louis home (and roof) that's in excellent condition. Give me a call today at 314-630-4227 or email me at rfisher@sellshomesfast.com

LINKS:

Roof Inspection: http://homebuying.about.com/od/homeshopping/qt/070507-RoofCert.htm

Composition shingles: http://www.kettlerroofing.com/comp_shingles.html

Roof repairs: http://www.roofhelp.com/roof_repairs.htm

Even with all the homes up for sale, some people just have to have new construction. It's clean, it's new and nobody else has lived in it. Understandable, but a word to the wise. If you go for a newly constructed home, bring your St. Louis real estate agent.

Why? Isn't there a site agent on hand to help you? Well, yes... and no. Here are a few good reasons why a personal agent, or buyer's agent, is a good idea:

Conflict of Interests

While the builder has an agent on site, that agent is not working in your best interests. Consider, if the site agent got a better deal for you (which takes money out of the builder's hands), would they still have a job? No. However, your own agent is there to make sure you get a good deal. End of story.

Being Informed

A builder's agent doesn't have to tell you about the negatives of a deal. They'll push the positives and even sometimes use high-pressure tactics to get you to sign the contract. Having your own St. Louis real estate agent is having a professional you know is on your side. It's knowing the drawbacks of the transaction as well as the positives.

Contacts

Agents get around; they go everywhere. As a result, they tend to gather a lot of professional contacts and information. If you're choosing a builder with a bad reputation, your agent might have heard about it. Your agent will have contacts to good home inspectors to go through the house when it's finished. Your agent will know if the builder's lender is reputable, and if not, your agent will be able to recommend a highly regarded lender to you. In short, your St. Louis real estate agent is a rolodex of home buying and selling resources.

If you're looking at new construction and need a personal real estate agent, I can help. Call me today at 314-630-4227 or email me at rfisher@sellshomesfast.com for more information.

Links:

Buyer's agent http://money.howstuffworks.com/personal-finance/real-estate/house-buying11.htm

Choosing a builder http://www.nahb.org/generic.aspx?genericContentID=284

Good home inspectors http://www.mortgagenewsdaily.com/11222005_Home_Inspection_List.asp

People buy St. Louis foreclosures for a lot of reasons: to live in, as fixer-uppers, to flip and for investment purposes. The current real estate market isn't so hot for quickly selling foreclosures at a profit. Instead, consider purchasing foreclosures and holding on to your investment until the market turns around. In the meantime, earn money by renting the houses.

Here are 5 things to look for when buying St. Louis foreclosures to rent out:

1. Most St. Louis foreclosures are nice homes that, for one reason or another, the sellers have had to let go. With the variety of houses available, take your time and find a property that doesn't require a lot of major renovations, unless, that is, you're a handy man and enjoy fixing up homes.

2. Figure out the costs of the potential rental property and then look at the average rent in the area. If the rent would cover the costs and a little over, it's a keeper.

3. Many of the homes have been updated with more energy efficient appliances. Energy efficiency is better for you, as the landlord, and better for them, as the tenant. Due to the current push towards environmental concerns, if you buy a home that isn't updated, you may eventually want to do so. Cut through the update havoc and look for energy efficient homes.

4. Like you would with any potential home, look into the cost of utilities, property taxes and so on. Make sure that you can handle the costs in the eventuality that the home stays empty for a while.

5. Make sure the home you look at is "tenant friendly". If there are a lot of breakable fixtures, big bay windows or glass enclosures, you might not want families living there due to the cost of repairs. Families are the highest number of renters, so look for homes that would withstand children.

"Accidental" landlords - those who hadn't planned to rent, but did because they couldn't sell - are a growing population. Instead of being accidental, plan for it. Look into buying [city] foreclosures as a rental investment. There might be a home just waiting for your tenants.

If you need help finding the perfect foreclosed home, give me a call today at 314-630-4227 or email me at rfisher@sellshomesfast.com

Links:

Fixing up homes

http://www.nls.gov/offices/hsg/sfh/203k/sfh203kc.cfm

Energy efficient homes

http://www.doityourself.com/scat/homeprep

Accidental landlords

http://www.chicagotribune.com/classified/realestate/financing/chi-melia_re_05-20may20,0,203674.story

If you're thinking of buying a St. Louis condo, then you're probably looking forward to the convenience of condo life. Freedom from landscaping chores and home maintenance tasks is just ahead. But, first you must determine how much condo you can afford to buy.

Before you do anything else, make a detailed list of your finances. You'll need to factor in all your income, and list all your normal monthly debts. Make a separate section for things you don't want to do without, but can if it's required. These are the first things that are eliminated when looking to save money in your budget.

Next make a budget for your household. Remember to include extras like going out to eat. A good budget will have all of these elements:

•· Fixed expenses. These include food, clothing, housing costs, car payment, even taxes that are regularly billed are included in this category.

•· Retirement. At least 10% of your income should go into a retirement account.

•· Savings. This is any money that has been put aside for big purchases, to pay off debts, or for home repairs. Your savings budget should be 20% of your income.

•· Miscellaneous. You should put 10% away to cover entertainment expenses. Going out to dinner and a movie would come out of this section.

Most finance experts will recommend that you don't spend more than twenty-eight percent of your income on housing costs. Still, some lenders may offer loan packages that are more than what you have budgeted to spend. No matter how great that St. Louis condo deal sounds, you need to stick to your budget.

Once you know how much you can afford to pay for your St. Louis condo, you can shop around for the best mortgage rates and loan terms for your personal situation. With careful planning, you can avoid making a mortgage mistake, and getting more house than you can afford.

Need more help determining how much mortgage you can afford? Give me a call today at 314-630-4227 or email me at rfisher@sellshomesfast.com and I'll give you my professional advice.

LINKS:

Finances: http://www.mint.com/?utm_campaign=TLP&utm_medium=organic&utm_source=YSSP&utm_term=Simple+Budget+Planner+and+Planning++Mintcom

Budget: http://www.ehow.com/video_4468230_budget-bills.html

Best mortgage rates: http://www.bankrate.com/brm/compare_rates_home.asp

As a St. Louis real estate agent, I get to meet people from all ends of the spectrum: buyers, sellers, renters, etc. I also come across other agents, and it constantly amazes me at the different outlooks surrounding the real estate profession. Many buyers think sellers and real estate agents are out to stiff them. On the opposite side, many sellers think buyers and agents are out to stiff them. Unfortunately, even some agents think both are out to stiff them.

I know they say "it's a dog eat dog world", but if everybody was truly out to stiff everybody else (rather than just get a fair deal), nothing would ever get done. There's a big difference between a good agent and a crummy agent. So, maybe we all need to be reminded of what a good St. Louis real estate agent really is:

Your agent is your business associate. They are in the business of finding what you need, whether it's a house to buy or a buyer for your house. As a business associate, they look for the best deal for you, because the best deal for you is the best for them.

Your agent is your negotiator. This goes along with the first, but is more in depth. For instance, if you're looking at new construction and the builder has a "buyer's agent", do you really think that agent is there to help you get the best deal? No, they're there to help the builder get the best deal. That's why you have your own agent there - you know they're on your side.

Your agent is your friend. Especially when you're having problems selling your house, you'll have a lot of worries. A good St. Louis real estate agent will be there to listen to them and either a) relieve your worries or b) be understanding of them.

As real estate agents, we understand that selling a house isn't easy. We understand that buying a house can be stressful. We even understand that you may be stuck in a situation you'd rather not be in, such as during a foreclosure. Good agents aren't just agents; we're good friends.

If you need to sell your home or are looking to buy one, I'd love to help you. Call me today at 314-630-4227 or email me at rfisher@sellshomesfast.com

Links:

A crummy agent

http://www.usnews.com/articles/business/real-estate/2008/07/14/6-signs-of-a-crummy-real-estate-agent.html

New construction

http://homebuying.about.com/od/buyingahome/qt/BuyNewHome.htm