Melinda Pearson

Building My Own Custom Modular Home In Fishkill, and Other Areas in Dutchess County, NY. What Are the Steps?

I live in a stick built colonial. I LOVE my home and I LOVE the property! I was impressed that it was stick built when I bought it. The builder did a great job. I would recommend him! It is solid.

BUT, so is a modular. In fact, if I ever buy a new home again, I will build a modular. Why?

I do have 9 foot ceilings, like the modulars I've seen, but I have to say that some of the workmanship in my home, needs improvement. What does that mean? Well, modulars are built in factories and they are built to withstand transportation. I wonder if my stick built could be loaded and driven on a highway? Also, a plus is that a lot of the workmanship going into the modular is done by someone in the factory who does the same thing every day. Jeez, that is a lot of experience. In addition, the modular has been inspected a few times prior to leaving the factory. Look for my next blog on Modulars for more information.

I had a conversation with my mother, a realtor in california, who sold modulars in Malibu.

These were high-end craftsman like modulars on a bluff over Zuma Beach. They were gorgeous and sold for over a million bucks. Location, yes and no. But my point is she was talking to me about how great modulars are but I sensed she didn't understand that the modulars I'm talking about are competitive with stick built. The best way I could inform her was to let her know that these modulars reminded me of Toll Brothers! Finished, they were gorgeous and the craftsmanship? Let's just say, If I could get a modular on my property, I would do it.

Here is what the process looks like:

For anyone who desires to build a modular home, it is imperative to do some pre-planning and follow the steps.

1. Establish your budget. Building a home can be complex. Know the budget you have to work with! Contact a lender as a first step! In Dutchess County, Ulster Savings is a lender that will work with construction loans, banks who do this are hard to come by recently! Call around!

2. You want to find land next. The general rule of thumb is to use 25 percent of your budget for the land.

What do you have to think about? Well, land needs site work. Some land is ready to go and that land will cost more than a cheaper piece of land that you will have to put thousands of dollars into to prepare for building your modular.

You then subtract the land cost from your total budget to figure your budget for construction. We will work with you to help you find the building lots in Dutchess County.

3. Select a home and customize it with options that fit within your budget. The Builder Development Corp., www.thebldr.com, will quote a price for one of our models, or a plan of your own, customized to meet your needs. The quote will include the site work or general contracting based on the requirements of your lot and the site options you select. Every house and every building lot are different. Quoting an accurate price is time consuming, so we can't do a full quote on a project until you have a specific building lot and site plan.

4. Order Plans. Once the floor plans and options are finalized and you have accepted the proposal, the process starts in earnest. Engineered drawings are ordered of the house. You will place your 1,500 dollar engineering deposit. This is not refundable but will be applied to the purchase price of your home.

5. Finalize Plans. In about two weeks, preliminary plans are received. We will review them with you and make any final changes before ordering a full set of plans stamped by an architect or engineer. At the same time, you must also obtain a stamped foundation plan from a local architect or engineer. This can be included in your contract and will cost around 400- to 600 dollars.

6. Apply for Permits. Once the stamped foundation plan and the stamped plans from the factory have been received you are ready for building permits. You usually need permits for the house, driveway, and the septic system. Your general contractor can handle the permit process for you. The Builder Development Corp. is a licensed general contractor and can act a a general contractor, you can hire a 3rd party to be your general contractor, or if you have the 'know how', you can be your general contractor.

7. Apply For Your Mortgage/Construction Loan. Your bank will probably require a set of stamped plans as part of the appraisal on your "to be built" home.

8. Order the Modular Home. Permits and Financing are in Place, you are ready to finalize colors and other minor changes and place your order. Contracts will be signed specifying the house in detail and spelling out all the work that the Builder Development Corp. is going to do. It will take 6 to 8 weeks for delivery and that has to coincide with the following step.

9. Start the Site Work. The general contractor needs to begin site preparation so that tree clearing, excavation, foundationand sill plates are complete prior to the scheduled set date.

10. Delivery of the Modular Home. Approximately one week prior to set we will confirm that the site is ready and provide you with a final invoice for the home including the balance due. Truck drivers will not leave the units without full payment.

11. Inspect the Modular Home. Once the house has been set, we will conduct a 'walk through' with you to verify that the house has arrived in good condition and to identify any service issues.

12. Completion of the Home. A significant amount of work remains to be done after delivery. The cost of site work is not included in the price of the modular home. If The Builder Develpment Corp. has contracted to be your general contractor, the contracting agreement will spell out the details of the work to be done and the payment schedule.

For more details on this process, please visit www.thebldr.com if you contact us, please let us know you read this blog!

Stay tuned for more information on Building Modular Homes in Dutchess County!

What is the Tax Credit? Has the Tax Credit Really Made A Difference in Poughkeepsie, NY?

I can tell you that I have a buyer here in Poughkeepsie who would not be in contract if it weren't for the tax credit. It's not that they wouldn't afford the house without the credit, thus propagating the problem of owning a home you can't afford. It is an incentive. It motivated them to move forward in purchasing a home.

I do see the credit as a plan to stimulate the economy and since I am in the trenches, I see the benefits.

What are the two tax credits for Nov. 7 to April 30th?

In short, according to NAR's website, these tax credits apply to Primary Residences and the amount of the credit is determined by income and cost of house.

1. The First-Time Home Buyer's may qualify for the Tax Credit of up to $8,000 from Nov. 7 until April 30, 2010.

• Must not have owned a home in the last three years prior to purchase.
• Single buyers can have incomes up to $125,00 per year.
• Married couples can have incomes up to $225,000 per year.

2. Existing home owners may qualify for the credit up to $6,500 when purchasing between Nov. 7, 2009 and April 30, 2010.

• They must have used the home being sold or vacated as a principle residence for five consecutive years within the last eight.
• Single buyers can have incomes up to $125,00 per year.
• Married couples can have incomes up to $225,000 per year.

I advise everyone to check with their accountant for personal qualifications regarding the tax credit.

I have had the opportunity to work with a number of different buyers in the last few months who are influenced by the credit to start to look. Based on what their loan officer's say, they are not dependent on the tax credit but are influenced by it. At a time when we need to jump start the economy, isn't that a good thing?

Besides the realtors, I see the tax credits benefitting the independent contractors who are in need of work.

To sum it up, this is a great opportunity for the first time home buyers and the existing home owners. In addition, people may qualify for grants through Dutchess County and the City of Poughkeepsie.

Please contact me for any information in the Dutchess County, Putnam and Westchester County areas in New York.

www.dutchesspropertysearch.com

The wisdom we learned from Perfect Pets Rescue: Red Hook, NY

Why am I posting abourt PPR? It is one of my favorite rescue groups. Probably because I found my adopted dog, Sammy, through them. I think it is amazing what PPR goes through to rescue these dogs. They are fun to follow on facebook and twitter too because you hear the puppy's stories and then actually see them when they are rescued.

Since this is my first blog in the Dog Lover's group. I'll give a brief family history. When my husband and I were dating, we found our chocolate lab, Grizzly through a breeder. He was our first child. The three of us had been through many things together. Marriage, car accidents, the loss of our daughter, spinal surgery, knee surgery, the birth of two more kids...you know, life.

When Griz was diagnosed with cancer, I fell apart. You would have thought with all we had been through before, I would have done that already! This was hard, my husband, the kids and I didn't understand that treating the cancer was only wishfull thinking and when it was time, we put him down.

A few weeks later, my dear cat, Maxine, became ill. The vet called it complicated grief and she quickly went downhill. We had to put her down. Her grief caused a large tumor in her belly to grow and we know it is the grief that sped this up because she had full blood work ups just before Griz died.

We started to look for a new dog on Thanksgiving three years ago, a month after we lost Griz. The thought of not having a chocolate lab around was hard for me to take. As soon as we got home, I did an internet search on Grizzly's blood lines. I couldn't believe within minutes I found his full brother in Minnesota. I emailed the breeder with our sad story and he emailed me back and said that there were two pups left and that he had planned to keep both for hunting but he felt so bad for me, he would be willing to send me one of them. Enter Charlie:Charlie flew into Newark a few weeks later. Soon after that, we adopted another cat, Oliver, from Heart of the Catskills.

Fast forward to November 2008. Me and the kids always are looking on the web on the ASPCA site. We were thinking of adopting a dog. We wanted a labradoodle. We found the cutest puppies who were being rescued from Perfect Pets Rescue in Red Hook. I quickly called and filled out a contract to adopt our second dog, Sammy. I waited on pins and needles hoping there wouldn't be a problem getting him. We received a call from Allison at PPR and she told us that Sammy was in Georgia and he was getting prepped for his drive up North. After investigating PPR on the web, I discovered something I never knew. Dogs in Georgia were being rescued out of kill shelters and shipped, like the underground railroad up North. There were plans on the web for who would be driving on different legs of the journey to get the dogs north to foster families and adopted families.

You can see from the look on his face, even Charlie was concerned about the plight of these dogs. :)

A few days later, Allison called to tell us that the puppy's would be arriving that night around 9pm! The directions were to meet her at a motel off of the turnpike. Wierd directions, but we were so excited. With the same anticipation I had when my third daughter was born, we left the house. ( when my third daughter was born, I recall thinking, wow, my middle child will never be the same again. Well, I felt that way for Charlie too)

At the pick up point, we saw this large bus and people unloading dogs. The bus was completely silent. The dogs seemed like they had been through a lot between thier life prior to the kill shelter, being in the shelter, getting vetted and driving up a long way to thier new homes. The minute Sammy came out, I knew he was the one. It's been fun, games, and love ever since! He and Charlie are good friends and the cat likes him too.

The best part of the story is that my girls have learned a tremendous amount from rescuing this dog. They learned compassion, wisdom, and generosity. I have given my kids allowance and watched them put all thier allowance in a ASPCA cannister at the local A and P. This past summer, they raised 52 dollars selling Lemonaid at a stand on our street and they donated all that money to Perfect Pets Rescue!

We plan on doing more fund raising for PPR. They are such a great rescue group! If you're interested, here is thier link:

www.perfectpetsrescue.org

First time home buyers and their saga purchasing Foreclosures and Short sales in the City of Poughkeepsie, NY

It's been many months of helping first time home buyers with an approval for an FHA loan, look for a home, find a property, make an offer, only to be rejected. It reminds me of what actors must go through in Hollywood, rejection!

It is heart wrenching for the couples who loose hope on foreclosure offers when the offer is inevitibly turned down. They are competing with investors, cash only, and buyers putting 25 percent down. Not to mention, it is a money game. Banks are looking at the bottom line and will wait it out for better offers.

To add pressure, the buyers were under the gun to purchase a house before the 8K credit was up.

We tried many strategies while shopping for foreclosures including pouncing on a listing as soon as it hit the MLS. What happens with those foreclosures is that the banks will wait 3 to 5 days when they have multiple offers or they just pass on this offer knowing that better ones will come down the road. At last, we had a break-through! The agent went on to tell me that although it was accepted, according to a lawyer, the house did not pass title on a previous offer because the wife's name was still on title. They would try to get a quick release. A week later, I receive another call saying they can't do it and they have to take the house off the market. Another house gone again!

Of course, I have been watching the statistics of listing price to purchase price. Noticing that on the average, in a downward market in our area, houses are selling 10 to 20 percent below listing price. My next strategy for my buyers was to search for homes 20 percent above thier listing price and hope to find a compassionate and motivated seller.

After a long haul, I did! I found a house I knew the buyers would love! They did and they made an offer and we were negotiating. The problem was that they did counter higher than they than they were hoping to have to do. But this figure had been discussed on many other houses and if they had done a 203K loan on some foreclosures they offered on, they would have had to spend close to this to fix the house.

They also had fallen in love with a different neighborhood closer to work but all they had found were foreclosures, unmotivated sellers, and homes priced too high.

I explained how they were in a bad position with foreclosures and Short Sales take many months to complete if they do close. I did my best to point out that the best strategy would be to buy a house from a motivated seller that they could negotiate with. I pointed out that instead of finding a dream home, perhaps looking at this as a starter home and five years down the road, they could purchase their dream home. Presenting the facts was important so they could make a sound decision on thier purchase.

The realtor for the home they were negotiating called to say that the seller was now very motivated and would do what they felt comfortable doing just so he could get on with his life and not worry about the house. They questioned why the owner was coming down in price. Why would he change his mind? I explained that it's not different than purchasing a car. Walk away and sometimes the price comes down.

My advice to first time home buyers in Poughkeepsie who have a low down payment and possibly an FHA loan and don't have a lot of room for negotiating would be to not focus on foreclosures but to look for a home with a motivated seller. That is a buyers market. I think the foreclosures are definetely more of a seller's market for someone with cash or the ability to make competitive offers with large down payments.

After much searching and testing of different websites, I am excited to say that I have my new website, www.dutchesspropertysearch.com up and running! Yes! I am enjoying accomplishing all the marketing goals I have set for myself and now, my first entry for my blog. I want to thank Scott Sanderson at WarmMedia.com for doing so much more than I expected and at a great price too!!

Please stay tuned for more to come on this blog!