Author: Mel Foster Co.

Understanding The Cost Of Homeownership

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You’re thinking about becoming a homeowner for the first time. What steps do you take in preparation, and what are some homeownership costs? 

Start With A Plan

Start by creating a realistic budget. Jot down your current expenses like car loans, monthly credit card payments and grocery expenses. But what new costs will you need to account for? 

  • Property taxes – Search local tax records on like properties to get an idea of the cost.
  • Homeowner’s insurance – A Mel Foster insurance agent can provide an estimate.
  • Utilities – Credit counseling agencies claim that owners spend 5-10% of their annual income on utilities, including electric, water, gas, garbage, cable and streaming.

Prepare So You’ll Be Ready

Take steps that will simplify the buying process when the time is right to begin your search.

  • Find a Mel Foster Co. agent and communicate what you’re looking for.
  • Continue to set money aside, so you have a down payment.
  • Check your credit score and work to improve it. 
  • Get pre-approved for a mortgage so financing won’t hold up a sale down the road.

Financial Assistance Programs Are Available

First-time buyers often have access to state programs, tax breaks and federally backed loans that can be approved even if you don’t have the minimum down payment. For example, take time to search DPA (Down Payment Assistance) loan options that can help cover the upfront costs of a down payment. Government-sponsored and private programs can help you pay closing costs, which often represent 3-6% of the total loan amount.

Find more tips for homeowners.

Parade of Homes Fall 2022

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See the latest trends in new home construction at the Fall 2022 Quad Cities Parade of Homes. Admission is free! Come and see the Parade of Homes:

Saturday, September 17 & Sunday, September 18 from 1pm-5pm
Wednesday, September 21 from 5pm-7pm
Saturday, September 24 & Sunday, September 25 from 1pm-5pm

5660 Red Fox Road, Bettendorf, IA
5660 Red Fox Road, Bettendorf, IA
  • Ranch Style Villa
  • Zero Entry, 4-Season Room or Covered Patio or Decks
  • 2-3 Bedrooms & 2-3 Bathrooms
  • 9′ Ceilings
4069 Orchard Drive, Bettendorf, IA
4069 Orchard Drive, Bettendorf, IA
  • Townhome
  • Quartz Countertops
  • 3-4 Bedrooms & 2.5-3.5 Bathrooms
  • Walk-Out Lots Available
4892 Lakeside Drive, Bettendorf, IA
4892 Lakeside Drive, Bettendorf, IA
  • Large Walk-In Pantry
  • Oversized Island With Upgraded Appliance Package
  • 4 Bedroooms & 3.5 Bathrooms
  • Stunning Floor Plan
4926 Willow Circle, Davenport, IA
4926 Willow Circle, Davenport, IA
  • Over 1,600 Square Feet Of Living Space
  • Open Concept Kitchen With Quartz Countertops
  • 3 Bedroooms & 2 Bathrooms
  • Full Basement With Bright Daylight Windows

To view all the homes in the Fall Parade or to see more homes for sale, visit Mel Foster Co.

Standing Out As A Buyer in Today’s Market

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It’s a seller’s market, and you’re the buyer. Sales offers often go higher than the list price and homes can sell faster than usual. So, what can you do to get ahead of the others doing the home search like you? Try taking these practical steps early to stand out as a buyer early in the buying process.

Get An Agent Now

There’s never been a better time to work with a Mel Foster Co. agent than now. Agents have access to home inventory at their fingertips and can keep you in the loop in real-time. Plus, their local contacts keep the flow of information current, so you’re always aware as things change. Your agent can help you present your best offer.

Get Your Finances In Order

One of the best things you can do before you begin your home search is to get preapproved for a loan. Then have the approval letter ready if you do make an offer. Put your best offer forward from the start and understand that it may mean offering over the asking price.

Get Ready To Act Quickly

Be organized so you can act quickly when it’s time to make an offer. Do your homework. Learn which neighborhoods you want to be in by visiting them day and night. This visit will help you get a feel for the area dynamic to see if it matches your expectations. Be flexible with closing dates when possible. Being open to a fast turnaround for your purchase may be the difference the seller needs to choose you over another buyer.

Find more tips for buyers.

Outdoor Entertaining

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Few of us look back on our lives and remember the nights we went to bed early. It’s the time of year for outdoor entertaining! Consider these suggestions, so you’re ready to get your party started.

Tell Guests What To Expect

Keep the party expectations clear with an invitation that spells it all out. Include day, time, and the theme and required attire, like if swimsuits are recommended. This way, guests can dress accordingly. If your gathering will be held in the backyard, guests will appreciate knowing where to join the fun. Inform them If drinks are provided or if they should bring their favorites.

Keep It Simple

Everyone, including the host or hostess, will enjoy the festivities more if the party is simple. For example, if you’re hosting the entire menu, choose finger foods that don’t need to come straight out of the oven to be still delicious. Instead, serve snacks for a set time frame and then be done, so you’re not attending to the food table all night. Mix a big batch cocktail that guests can help themselves to and have self-serve water available.

Be Prepared

Midwest weather can be unpredictable, so do your best to keep guests comfortable. Provide umbrellas or a tent for shade for those who prefer to stay out of the sun. On the flip side, have a basket of blankets or a space heater ready in the event cooler temps sneak in for the night. If you’re grilling, fill the propane tanks and clean the grates before the guests arrive. Mow your lawn at least a day before the party, so freshly cut grass clippings don’t cling to your friends’ shoes as they walk through the yard. 

Have A Little Fun

While an entire schedule is not needed for party success, make plans for some entertainment during the bash. Pipe festive music through portable speakers to set the mood, but not so loud that you disturb the neighborhood. Or invite musically talented friends to bring their guitars and sing to offer some live music. Have a game of Twister out for your adventurous pals or a deck of cards for the competitive ones. 

Find more tips for homeowners.

Affordable Ideas To Improve Curb Appeal

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Boost your home’s curb appeal with affordable and classy improvements that don’t need to be expensive. Whether you’re getting your home ready to sell or refreshing your porch for spring, try a few small projects that will make a big difference.

Simple Solutions

First impressions of your yard and the path leading to the front door should offer a welcoming vibe. Start with washing the windows, so they sparkle. Providing symmetry to your landscaping and decorating is visually appealing, so flank the front door with matching pots or plants. Coordinate décor and exterior garden accessory colors. When in doubt, refer to the color wheel for guidance. Pick any color on the color wheel, then move your finger to the opposite color. Colors opposite on the wheel are complementary colors.

Borrow and Build

You don’t have to purchase new lawncare gadgets to complete curb appeal jobs. Instead, borrow your neighbor’s power washer and work to remove the spiderwebs in the corners and the grime on your gutters. Try your local hardware store to rent a stick edging machine that creates a root barrier and stops the grass from invading your landscape and garden beds. Build and install flower boxes and shutters to add dimension to the front of the house.

Porch Perfect

One of the most appealing ways to showcase your home’s entrance is creating a cozy seating area on your porch. Maximize the space and let your style present your version of charm and flair. Consider spending as much attention to detail on your porch as you might in the baby’s room or your home office. Tackle these projects to refresh the entryway:

  • Upgrade the light fixtures and door handles
  • Paint the front door and add a porch swing if possible
  • Add potted plants for a splash of color 
  • Hang a wreath on the door and display seasonally festive pillows 

Find more tips for homeowners.

Home Staging

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Industry professionals recommend staging your home before putting it on the market. So, what exactly does staging the home mean, and what do you need to know to do it well? 

Defining Home Staging

Home staging refers to the decorating method used when preparing a home for sale. The goal is to eliminate distractions while assembling the space. Staging is designed to showcase a home’s assets to attract and impress buyers.

Home Staging Dos And Don’ts

Do

  • Highlight your outdoor living area not included in the home’s square footage.
  • Share adorable photos of your pet in the house. They get shared more on social media.
  • Show off your feature wall. It can grab attention, and most buyers repaint rooms anyway.

Don’t

  • Overdecorate so your space looks crowded.
  • Leave patterned window treatments up. Replace them with neutral curtains.
  • Declutter so much that rooms feel empty or cold.

Virtual Tours Are Valuable

Once the home is staged, attract more buyers by providing a virtual tour. You’ll stand out from your competition and allow prospects to do the virtual walk-through of the property at their convenience. Statistics show that homes with a virtual tour option sell at up to a nine percent higher sales price.

Find more tips for homeowners.

Questions To Ask When Finding A Real Estate Agent

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Whether you’re a buyer or a seller, finding a real estate agent to help you achieve your goals means you must ask good questions. So how do you find an agent right for you? Focus on the following categories when determining what to ask.

Experience

Experience matters, so find out what they know. Consider questions like these:

  • How many homes have you sold? 
  • Do you work full or part-time? 
  • In which neighborhoods do you primarily work? 
  • Is your license in good standing? 

If you must choose between two good candidates, compare sales results and how you relate to each other. Don’t forget to notice his or her level of professionalism to help you decide. A good agent knows the area and current market conditions to streamline your search.

Communication

Use an agent you connect with. Find a personality fit first, and then match your comfort using technology and their knowledge of the relevant neighborhoods for your search. It’s ok to ask how many other buyers or sellers the agent represents. Hint: the busiest agents are often the most efficient.

Support

Look for an agent with a strong support team. It’s good to know if there is always reinforcement available at any time. Your agent will be in your corner from start to finish, and their experience will help connect you to qualified loan officers and real estate attorneys that will ultimately aid in the process until closing.

Find a Mel Foster Co. agent today.


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