Tag real estate

How to Find a Home in ID

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Idaho has some of the best potatoes in the world, but it has more to offer than just that. It’s also dubbed the Gem State, with over 70 precious and semi-precious stones found within its bedrock and streams. The real gems of Idaho are its national parks, friendly people, and a range of real estate deals for buyers looking to maximize value without breaking the bank.

Finding an amazing home in Idaho is easy if you know what to look for and have the top tools and professionals on your side.

What to Look for in an Idaho Home

In Idaho, you can have your pick of beautiful homes and properties with stunning natural backdrops. To narrow down your list, you may want to keep a few things in mind.

Proximity to Employment

The capital of Idaho, Boise, is a major draw for many homebuyers due to its impressive list of corporate and boutique employment opportunities. If you’ve already landed a job at a powerhouse like Boise’s Micron, Hewlett-Packard, Clearwater, IDACORP, or St. Luke’s you will want to look for a home in or around the Boise area. If you haven’t scored a job yet, being close to the city can only help your search and prospects.

With the Homie app, you can narrow down your search using the city or town of your current or future job. Whether you are looking in Boise’s Bench or North End, Garden City, Meridian, Nampa, Caldwell, Kuna or some other area, you can find what you are looking for. You can then collaborate with a Homie agent to decide which homes you may want to make an offer on in Boise.

The Lot the Home Sits On

Even though much of Idaho’s real estate sits on predictable, easy-to-manage land, in some cases, a property could have hidden issues. Keep an eye out for the following when evaluating where your home sits:

  • Setback regulations that may limit where and if you can put on an addition
  • Easements put in place that may limit what you can do
  • How fences, hedges, trees, and other things at the edges of the property sit in relation to the actual, registered boundaries of the lot

Check the Available Utilities

Particularly in the more rural areas of Idaho, you will want to double-check the utilities at your disposal. In the more urban sections of the state, you may have multiple options for handling sewage, as well as heating your home. However, other parts of the state have far fewer choices. It’s best to decide ahead of time how you will deal with:

  • A septic system instead of a town sewer
  • Limited heating fuel options—and the extra expense that may involve
  • Getting a back-up energy source in case there’s a blackout due to a storm and crews are delayed in fixing it

In most cases, any inconveniences can be overcome with a little planning. The more rural sections of Idaho more than make up for it with their natural beauty.

Energy Efficiency

Idaho’s temps can dip below zero degrees Fahrenheit in the winter and push the mercury above 100 degrees in the summer months. To keep comfy, whether you want to be cozy or cool, it’s important to try to find a home that’s energy-efficient. Focus on both the insulation and the mechanical system.

If there’s no information available for the insulation used in the home, you can often gauge its efficiency based on the thickness of the walls. Two-by-six construction tends to be better at maintaining inside temps than two-by-four walls. Likewise, single-pane windows allow more heat loss or gain than a modern dual pane window filled with argon. A quick trip to the attic can reveal the kind of insulation between the roof and living spaces below.

The Importance of Using an Agent

Enlisting the assistance of a Homie agent can make the buying process easier and save you thousands of dollars, not to mention peace of mind. Here are some of the top advantages of using a Homie agent instead of trying to DIY your home purchase.

Getting the Best Deal

Making the right offer is a fine art and skill. Often, a homebuyer may have a number they think reflects the value of the home, but even a thoughtful figure may be skewed by a number of subjective factors. With an agent from Homie, you’ll get a dedicated professional that knows the local area, how its prices have fluctuated over the years, and how well homes tend to hold value.

A local agent from Homie also knows how long properties tend to stay on the market in a given area, as well as the infrastructure and municipal projects in the works that may influence the value—present or future—or a home. With this store of data and insights, a Homie agent can help you nail the best offer and earn you a great deal.

Work With Experienced Professionals

When you work with Homie, you not only get to work with some of the top agents, but Homie also helps you find the best providers for all your needs through Homie Marketplace. The Marketplace is a list of partners that we know do amazing work in things like home inspections, warranties, and moving services.

Finding trusted professionals for each part of the home buying process is essential. A good home inspector will tell you what types of repairs your potential home needs. This important information to have so your agent can help you negotiate a fair price.

You’ll also want a good home warranty to protect against any unexpected issues that might come up after you move in. Instead of hunting all over the place to find each of the providers you need, our Homie team will help connect you with the right people.

Familiarity With Legal and Paperwork Requirements

There’s a lot more to buying a home than writing a check and grabbing the keys. The legal landscape can get tricky, particularly when it comes to the paperwork. Even well-meaning sellers can include clauses in the contract that could put you at a disadvantage.

Work With a Homie

If you’re digging for an Idaho real estate gem, a Homie professional can help you as you prospect for your prize. Whether you’re looking for the perfect starter home, an upgrade as your family grows, or a lovely investment property, your Homie agent will help you score a great deal and have a smooth process. Click here to start working with Homie to find your Boise home today!

For more tips on home buying, check out the articles below!

4 Ways to Outsmart the Competition When Buying a Home
5 Tips to Help You Afford Your First Home
Common Home Buying Fears and How To Overcome Them

Want to learn more about buying or selling? Sign up to get more info directly to your inbox!

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The post How to Find a Home in ID appeared first on Homie Blog.

Source: homie.com

What Is a Nuncupative Will?

By in Business, Estate Planning Tag , , , , , , , , , , , , , , , , , , , , , , ,

Elderly woman near deathMaking a last will and testament is an important part of your estate plan and there are different types of wills to choose from. A nuncupative will, meaning a will that’s oral rather than written, may be an option in certain circumstances. While state will laws typically require that a will be written, signed and witnessed to be considered legal, there are scenarios in which an oral will could be upheld as valid. Understanding how a nuncupative will works, as well as the pros and cons, can help with shaping your will-making plans if you have yet to create one.

A financial professional can offer advice on investing, retirement planning, financial planning and various other areas of finance. Find a financial advisor today. 

Nuncupative Will, Defined

A nuncupative will simply means a will that isn’t written. Instead, it’s delivered verbally by the person who intends to make the will.

Nuncupative wills are sometimes called deathbed wills since they’re often created in end-of-life situations where a person is too ill or injured to physically draft a will. The person making the will, known as a testator, expresses wishes about the distribution of property and other assets to witnesses.

How Does an Oral Will Work?

Ordinarily, when creating a will you’d draft a written document identifying yourself as the will maker and spelling out how you want your assets to be distributed after you pass away. You could also use a will to name legal guardians for minor children if necessary and name an executor for your estate.

An oral will sidesteps all that and simply involves the person making the will expressing his or her wishes verbally to witnesses. There would be no written document unless one of the witnesses or someone else who is present chooses to copy down what’s being said. The person making the will would have nothing to sign and neither would the witnesses.

There’s a reason oral wills are no longer used in most states: Without a written document that’s been signed by the person making the will and properly witnessed, it can be very difficult to prove the will maker’s intentions about how assets should be distributed or who should be beneficiaries.

Are Nuncupative Wills Valid?

Elderly man near death

This type of will is no longer considered valid in most states. Instead, you’ll need to draft a written will that follows your state’s will-making guidelines. For example, most states require that the person making a will be at least 18 and of sound mind. The will also has to be witnessed by the required number of people who don’t have a direct interest in the will’s contents. Depending on where you live, you may or may not need to have your will notarized.

There are a handful of states that still allow oral or verbal wills, however. But they’re only considered valid under certain circumstances.

In North Carolina, for example, oral wills are only recognized if:

  • The person making the will believes death is imminent
  • The witnesses are asked to testify to the will
  • Both witnesses are present with the testator when the will is dictated
  • The testator states that what he or she is saying is intended to be a will
  • An oral statement is made to at least two competent witnesses
  • The testator then passes away

Even if those conditions are met, the heirs to the will would still have to bring a legal action to have it admitted to probate court. The witnesses would have to testify to what was said and even then, North Carolina still doesn’t allow for the transfer of real estate through an oral will.

In New York, the guidelines are even narrower. New York State only allows nuncupative wills to be recognized as legal and valid when made by a member of the armed services during a time of war or armed conflict. The intentions of the person making the will has to be stated in front of two witnesses. State law automatically invalidates them one year after the person leaves military service if they don’t pass away at the time the will was made.

How to Prepare a Will

Having a written will in place can help your loved ones avoid problematic scenarios about how to divide your property after you pass away. If you don’t have a will in place yet, you risk dying intestate. There are a couple of ways you can create one.

The first is using an online will-making software. These programs can guide you through the will-making process and they’re designed to be easy enough for anyone to use, even if you’re not an attorney. If you have a fairly simple estate then using an online will-making software could help you create a will at a reasonable cost.

On the other hand, if you have a more complex estate then you may want to get help with making a will from an estate planning attorney. An attorney can help ensure that your will is valid and that you’re distributing assets the way you want to without running into any legal snags.

Generally, when making a will you should be prepared to:

  • Name an executor for your estate
  • Name a guardian for children if necessary
  • Specify who or which organizations you want to inherit your assets

When making a will, it’s important to remember that some assets can’t be included. For example, if you have any assets that already have a named beneficiary, such as a 401(k), individual retirement account or life insurance policy, those would go to the person you’ve named.

And it’s also important to note that a will is just one part of the estate planning puzzle. If you have a more complex estate then you may also need to consider setting up a living trust. A trust allows you to transfer assets to the control of a trustee, who manages them on behalf of the trust’s beneficiaries. Trusts can be useful for minimizing estate taxes and creating a legacy of giving or wealth if that’s part of your financial plan.

The Bottom Line

Dying person holds hands with a loved oneNuncupative wills are rare and while some states do recognize them, they generally aren’t valid in most circumstances. If you don’t have a will in place, then creating one is something you may want to add to your financial to-do list. Even if you don’t have a large estate or you’re unmarried with no children, having a will can still provide some reassurance about what will happen to your assets once you pass away.

Tips for Estate Planning

  • Consider talking to a financial advisor about will making and estate planning. If you don’t have a financial advisor yet, finding one doesn’t have to be complicated. SmartAsset’s financial advisor matching tool can help. By answering a few brief questions online you can get personalized recommendations for professional advisors in your local area. If you’re ready, get started now.
  • Along with a will and trust, there are other legal documents you might incorporate into your estate plan. An advance healthcare directive, for instance, can be used to spell out your wishes in case you become incapacitated. Power of attorney documents allow you to name someone who can make medical or financial decisions on your behalf when you’re unable to.

Photo credit: ©iStock.com/FatCamera, ©iStock.com/Sean_Warren, ©iStock.com/LPETTET

The post What Is a Nuncupative Will? appeared first on SmartAsset Blog.

Source: smartasset.com

Matthew Perry Sells Malibu Beach House for $13.1M

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Matthew Perry Sells Malibu homePaul Drinkwater/NBCU/Getty Images

Matthew Perry of “Friends” found a buyer who was there for him. He has successfully sold his Malibu, CA, beach house for $13.1 million.

Perry had initially listed his “kick-ass Malibu home”—as he called his place on social media—in August for $14.95 million. In September, the actor dropped the asking price by a million dollars, to $13.95 million.

He then slashed the price one last time to $12.95 million. That reduction attracted a buyer, who scooped up the swanky space for just a little over the ask.

Although the price ended up lower than his initial asking price, Perry came out ahead. The savvy star picked up the the property in 2011 for $12 million.

Perry reportedly bought the beachfront abode from the Southern California developer Scott Gillen, who completely transformed the circa-1960 build.

The result is a loftlike space with expansive walls of glass, looking out to the Pacific Ocean.

The fab pad can hold lots of friends, with two floors, four bedrooms, and 3.5 bathrooms on 5,000 square feet. The main level features an open living and dining area, a fireplace, beamed ceilings, and sparkling views of the ocean. The glass walls completely open up, extending the living area out to a deck that runs the length of the house on both floors.

A floating wood-and-steel staircase leads to the lower-level master suite, which includes a sitting area, walk-in closet, and luxurious bathroom.

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Watch: Comedian Kathy Griffin Gets a Deal While Downsizing in SoCal

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The home also features an outdoor spa and a state-of-the-art home theater.

Meanwhile, the deck comes with plenty of seating and a fire pit, perfect for catching the sunset.

The open floor plan made the buyer swoon, according to Luis Robledo, the Douglas Elliman agent who represented the buyer.

“The minute you walk through the front door, you have a completely open and expansive view of the ocean, with floor-to-ceiling and wall-to-wall windows,” Robledo says. “Two decks on both levels spanning the length of the home—maximizing the outdoor space—also made it extremely compelling. This is the perfect getaway place.”

Perry took full advantage of the beach pad as his personal getaway during the pandemic. He posted photos to his Instagram account from the property as he hung out on his deck or baked cookies in the kitchen.

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A post shared by Matthew Perry (@mattyperry4)

Perry had been on a selling spree, also placing a posh penthouse on the market in Los Angeles in 2019 for $35 million. In 2017, he bought the “mansion in the sky,” which occupies the entire 40th floor of the Wilshire Corridor’s elite Century Building, for $20 million.

He renovated the place to his taste, with what looks like wall-to-wall velvet furniture, a huge master suite with views, and the home theater. The listing is currently off market.

Now that he’s freed from his real estate concerns, the star’s new focus appears to be an adorable puppy.

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A post shared by Matthew Perry (@mattyperry4)

Luis Robledo of Douglas Elliman represented the buyer. Joshua Flagg with Rodeo Realty repped the seller.

The post Matthew Perry Sells Malibu Beach House for $13.1M appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

New to Market: Matt Damon’s Zen Los Angeles Home Asks $21 Million

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As part of his plan of leaving Los Angeles and moving his family to the Big Apple, Matt Damon has now listed his Pacific Palisades home for sale. And he’s hoping to cash in big from the sale, asking $21 million for the Zen-inspired contemporary home set in one of LA’s most desirable neighborhoods.

Recently listed with Eric Haskell, an agent with celebrity real estate brokerage The Agency, Matt Damon’s house is an architectural masterpiece with 7 bedrooms, 10 baths, tons of distinct design features and some pretty extraordinary amenities. The Academy Award-winning actor will be trading all this for a 6,000-square-foot penthouse in Brooklyn, New York, having broken records last year by paying $16.745 million for the top floor unit of a famous former hotel, The Standish.

inside matt damon's beautiful house in los angeles
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams

An architectural gem with striking features & Instagram-worthy interiors

Designed by award-winning architect Grant Kirkpatrick, founding partner of leading-edge design studio KAA Design Group, Matt Damon’s house is an extraordinary contemporary home that showcases masterful craftmanship throughout its 13,508-square-foot interiors.

With a modern-yet-timeless design, the house is anchored by a breathtaking atrium with 35-foot mahogany vaulted ceilings. The interiors are bathed in natural light and mix warm wood elements with natural stone, giving the whole space an inviting, relaxing vibe. Other striking features that deserve a shout-out: clerestory windows and glass walls that fuse the indoors with the outdoor areas.

two-story-atrium-with-vaulted-ceilings-in-matt-damons-house
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams
inside matt damon's house, living room
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams
inside matt damon's house, living room and dining room
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams

The family room opens to the magnificent chef’s kitchen with custom mahogany cabinetry, Bluestone countertops and stainless steel Viking, Wolf and Miele appliances. The kitchen then opens to the expansive backyard retreat (but more on that in a minute).

All in all, Matt Damon’s soon-to-be former Los Angeles abode packs 7 bedrooms and 10 baths across 13,508 square feet of space. The primary suite comes with its own private terrace, dual dressing rooms, massage room and a spa-style bath with soaking tub and expansive shower. Pretty much every room offers leafy property and treetop views, adding an extra note of serenity to this wonderfully Zen-inspired home.

kitchen in Matt Damon's house in Los Angeles, now on the market for $21 million.
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams
Inside Matt Damon's house in Los Angeles, now on the market for $21 million.
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams
primary suite in matt damon's los angeles house
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams
massage room in matt damon's house
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams
beautiful bedroom in matt damon's house in Los Angeles
Inside Matt Damon’s house in Los Angeles, now on the market for $21 million. Image credit: Alexis Adams

Amenities galore and a wonderful backyard retreat

Most celebrity homes tend to outdo themselves when it comes to amenities and bonus rooms and Matt Damon’s house is no exception. Interior amenities include a game room, bar, office, gym, plush media room, staff quarters and wine storage and tasting room. And that’s just what you’ll find inside the house.

Outside, the modern home has quite a few amenities that invite calm and relaxation (perfectly in tune with the rest of the house), including an expansive pool, spa, a cascading waterfall, koi pond and Hawaiian-inspired Lanai with a covered lounge and alfresco dining terrace. To appeal to the little ones — Damon is a father of four — there’s also a nice children’s play area.

Pool and outdoor area of Matt Damon's Los Angeles home in Pacific Palisades.
Pool and outdoor area of Matt Damon’s Los Angeles home in Pacific Palisades. Image credit: Alexis Adams
outdoor lounge and alfresco dining area in matt damon's $21 million house
Pool and outdoor area of Matt Damon’s Los Angeles home in Pacific Palisades. Image credit: Alexis Adams
kids playground in matt damon's house
Playground outside Matt Damon’s Los Angeles home in Pacific Palisades. Image credit: Alexis Adams

Matt Damon’s next home is vastly different from his Los Angeles digs

The Academy Award-winning actor, who is starring in the highly anticipated Ridley Scott-directed The Last Duel (to be released this year), will soon be leaving Los Angeles behind. The move has long been planned, with Damon and wife Luciana Bozán Barroso having purchased a Brooklyn Heights penthouse two years ago for a record-breaking price.

The couple paid $16.745 million for a 6-bedroom, 6,201-square-foot penthouse at The Standish — a historically significant converted building that was originally built in 1903 as a Beaux Arts hotel. At the time, Damon’s purchase set a new record for the borough, making him the owner of the most expensive property ever sold in Brooklyn.

Despite the fact that the penthouse consists of several units merged for extra space, the actor will be downsizing considerably. And the loss in square footage is matched by a significant downgrade in outdoor space — though it’s worth noting that Matt Damon’s new home does have an expansive terrace, a rarity for New York City. There’s no Zen backyard pool though, so we’re pretty sure the Good Will Hunting actor will, at times, miss his Pacific Palisades retreat.

More beautiful celebrity homes

Check Out this Beautiful House the Hemsworth Brothers Just Sold in Malibu
Wayne Gretzky is Selling his $22.9M California Home Designed by ‘The Megamansion King’
Morgan Brown Re-Lists Stunning West Hollywood Home Amid Split from Actor Gerard Butler
Chrissy Teigen & John Legend Buy $17.5M Beverly Hills Mansion

The post New to Market: Matt Damon’s Zen Los Angeles Home Asks $21 Million appeared first on Fancy Pants Homes.

Source: fancypantshomes.com

Real Estate Is Red Hot Because Mortgage Payments Are Still Cheap

By in Home Decor, Home Design, Mortgage News, Mortgage Rates Tag , , , , , ,

If you’re scratching your head wondering why home prices continue to go up and up, consider the fact that it’s actually cheaper now than it was a year ago. It’s also less expensive to own a home today than it was back in 2019, 2018, 2008, 2007, 2006, 2005, and even during parts of 2004. [&hellip

The post Real Estate Is Red Hot Because Mortgage Payments Are Still Cheap first appeared on The Truth About Mortgage.

Source: thetruthaboutmortgage.com

How To Tour a House Today: Tips To Make the Most of Virtual or In-Person Showings

By in DIY, Home Buying, Money Tips Tag , , , , , , , , , , , , , , , , , , , ,

schedule a home tourd3sign / Getty Images

Touring a house is like going on a first date: It’s your chance to get a sense of whether this home is the one. Can you envision baking cookies in that kitchen, or cracking a beer on that back deck?

But in this day and age, with so many houses to see and so little time before they get snapped up, the prospect of finding this dream home in the real estate haystack can sometimes feel a bit overwhelming. Add in the coronavirus pandemic, and the idea of checking out houses all around town might feel unsafe, too.

But here’s the good news: The rules on how to tour a house have changed in ways that can save time, lower your exposure to COVID-19, and curb your workload and stress levels, too. Here’s what you need to know to ace your house-hunting game for the modern day.

How to schedule a home tour

Most home buyers start their house hunt online—that’s a given. But once you spot a home you love, what’s next?

In the olden days of real estate, a home tour would kick off with several rounds of phone/email tag. You’d call your real estate agent, who would then contact the home’s listing agent, and once they’d talked you’d get looped in to when you can finally see the house. Talk about complicated! And that’s for just one house; most home buyers are juggling multiple home tours.

But today, the process is much simpler. For one, many real estate listings have a button you can click on to learn more about a property, sans the annoying phone games. On some listings, you can schedule a tour simply by clicking on your preferred day and time to visit. (See the Schedule a Tour option on the right side of the sample listing below.)

In short, the process of scheduling a tour can now happen in a few seconds, no harder than ordering lunch on Seamless. After you submit your information, you’ll be assigned a local real estate agent, who will reach out to you directly to confirm your tour time and format. (More on your options there next.)

Select the date, time, and format of your next home tour.

Realtor.com

Should I schedule a virtual tour or visit in person?

It wasn’t long ago when the only way to tour a house would be to visit in person. But today, you also have the option to take a virtual tour. You just schedule a tour as you usually would, but request a virtual home showing where a real estate agent shows you around the house via a live video stream on Google Hangouts, FaceTime, Zoom, or other app.

So should you opt for a virtual tour, or go for the real thing? According to many real estate experts, a virtual tour is the faster, easier, and safest place to start. While buying a home “sight unseen” as they say is a risky move few are willing to take (although it is done now more than ever), virtual tours are still a great way to whittle down your options and spend less time running around town.

“Virtual tours can act as a clearinghouse for buyers to narrow down their search,” says Jack Smith, a real estate agent with Shorewest Realtors in Milwaukee. From there, if you like what you see, you can proceed to an in-person tour to get a closer look.

What to look for on a home tour

Whether you’re conducting a virtual or in-person tour, it’s important to get to know every nook and cranny of the property. Breezing from room to room is not enough—particularly if you’re doing a remote tour where small details might be out of view.

As such, you’ll want to check out some less obvious features to make sure the house is in good shape. Here are some areas to home in on that many buyers might miss:

  • The HVAC and hot water systems: The age and quality of these big-ticket systems can make or break your budget, so while they’re not quite as fun as that gigantic kitchen island or the bonus room above the garage, they should be top priorities during your tour, even if you plan to hire an experienced home inspector.
  • The exterior: Don’t limit your tour to the house itself. Be sure to check out the garage, front and back yards, and any structures on the property such as swimming pools or gardening sheds.
  • The neighborhood at large: You’re not just buying a home, but the neighborhood. Try to see the homes surrounding the one for sale to get a sense of what your life there would be like. Tons of traffic whizzing by might be a deterrent if you have kids or a dog; nearby restaurants and bars might be nice but will add to ambient noise. To get to know this area better, check out local neighborhood apps like Nextdoor.com.

What role does a real estate agent play in a home tour?

A real estate agent can serve as an excellent sounding board when touring a house. Plus, if you’re conducting a virtual tour, your agent may be able to visit the property on your behalf and answer any lingering questions you have, says Tony Mariotti, a real estate agent with RubyHome in Los Angeles.

“Buyers have asked us to check the number of electrical outlets and data ports in a room they intend to use as an office,” Mariotti says. “We’ve also measured and ‘reality checked’ rooms that looked big in listing photos due to wide-angle lenses.”

What to ask when touring houses

During a home tour, you’ll want to delve deeper by asking your real estate agent questions about the house. Here are some topics to hit.

  • How old is the home? How old are the various systems and structural elements, like the roof and the water heater?
  • Has any renovation work been done? If so, were the proper permits pulled and can I see them? Was the work performed by a licensed contractor, electrician, plumber, etc.?
  • Are there any previous insurance claims that could affect insurability? Are there any special insurance policies required for the home?
  • What were the average costs of utilities (water, electric, gas, sewer, and trash) over the past 12 months?
  • What is the home’s listing history, including any price reductions or contracts that fell through? Why did the seller drop the price? Why did the home fall out of contract?
  • Are there homeowners association fees? If so, what do they cover? How are the fees billed?

How home buyers can make the most out of touring homes

When touring bunches of homes, it can be hard to remember which house had that spa bathroom or sunroom you adored. To keep one home tour from blurring with the next, keep a notebook where you can make notes and reminders to help keep all the homes straight. Give each house a name if that helps you, and be sure to highlight any important concerns that jumped out during the tour.

And lest you get swept up swooning over home features that won’t really matter that much in the long run (e.g., that outdoor hot tub is nice but not all that necessary), it may help to write down a list of your top house-hunting priorities.

“Buyers should have a list of their ‘must haves,’ their ‘like to haves,’ and things they are willing to compromise on in a property,” says Cara Ameer, a real estate agent with Coldwell Banker in California and Florida.

Similar to dating, you should probably just accept that you can’t have it all, and that some flexibility will be needed if you want your house hunt to end anytime soon.

The post How To Tour a House Today: Tips To Make the Most of Virtual or In-Person Showings appeared first on Real Estate News & Insights | realtor.com®.

Source: realtor.com

Prenup vs Postnup: What is the Difference?

By in Auto Rental Guides, Money Tag , , , , , , , , , , , , , , , , , , , , ,

couple on couch with laptop

They’re certainly not as romantic to discuss as your dream house or your honeymoon, but prenups and postnups can be a financial lifesaver in the event your marriage does come to an end.

Both prenups and postnups are about figuring out who gets what if you and your spouse get divorced.

But these two types of agreements have some important distinctions, and circumstances may make one better suited to your relationship than the other.

Here are some key things it can be helpful to understand about prenups vs. postnups, plus how to decide if you and your significant other might benefit from getting one.

What is a Prenup?

Short for “prenuptial agreement,” a prenup is a legally binding document set up before a couple gets married — hence the “pre” suffix.

These contracts typically list each party’s assets, including property and wealth, as well as any debts either soon-to-be-spouse might carry.

It then details how these assets will be divided in case the marriage comes to an end, either through a divorce or the death of a spouse.

Who Needs a Prenup?

Prenups may also be known as “antenuptial agreements” or “premarital agreements,” but the bottom line is, they’re contracts drafted before vows are made.

Couples who are getting married for the first time and are bringing little to no assets into the marriage may not need to bother with drawing up a prenup.

However, a prenup can be particularly useful if one spouse is coming into the marriage with children from a previous partnership, or if one partner has a large inheritance or a significant estate, or is expecting to receive a large inheritance or distribution from a family trust.

debt the other spouse brought into the marriage.

What is a Postnup?

A postnup, or postnuptial agreement, is almost identical to a prenup — except that it’s drafted after a marriage has been established.

They may not be as well known as prenups, but postnups have grown increasingly common in recent years, with nearly all 50 U.S. states now allowing them.

A postup may be created soon after the wedding, if the couple meant to do so but simply didn’t get around to it before the big day, or well afterwards, especially if some significant financial change has taken place in the family.

Either way, a postnup, much like a prenup, does the job of outlining exactly how assets will be allocated if the partnership comes to an end.

Who Needs a Postnup?

Along with being drafted whole cloth, a postnup can be used to amend an existing prenuptial agreement if there have been big changes that mean the initial contract is now outdated.

And although it’s not fun to think about, if a couple feels they’ll soon be facing divorce, a postnup can help simplify one important part of the process before the rest of the legal proceedings take place.

A postnup, like a prenup, can help separate out assets that would otherwise be considered shared, “marital property,” which can be important if one partner obtains an inheritance, trust, piece of real estate, or other possession they want to maintain full ownership over.

Postnups can also be part of a renewed effort for a couple to commit to a marriage that may be facing some obstacles and challenges.

Prenup vs. Postnup: Which is Right for Your Relationship?

While it may be a difficult conversation to face with your fiance or spouse, creating a prenup or postnup can be an important step to help you avoid both headache and heartache later on.

If you don’t make a pre- or post-nup, your state’s laws determine who owns the assets that you acquire in your marriage, as well as what happens to that property in the event of divorce or death. State law may also determine what happens to some of the assets you owned before marriage.

While almost any couple can benefit from a frank discussion of who gets what in the worst-case scenario, here are the situations in which you might specifically want to consider a prenup vs. postnup.

Prenup:

•   If one or both partners have existing children from a previous partnership, to whom they want to lay out specific inheritances in case of death.
•   If one partner has a larger estate or net worth (i.e., if one spouse is significantly wealthier than the other).
•   If one or both partners want to protect earnings made and possessions acquired during the marriage from “shared ownership.”

Postnup:

•   If you intended to create a prenup but ran out of time or otherwise didn’t do so before the wedding.
•   If significant financial changes have made it necessary to change an existing prenup or draft a new postnup.
•   If divorce is looking likely or inevitable, and the couple wishes to streamline the process of dividing marital assets before undergoing the rest of the process.

In all cases, prenuptial and postnuptial agreements can help simplify the division of assets in the case of either death or divorce—and in either of those extremely emotionally charged scenarios, every little bit of simplification can help.

However, prenups are sometimes considered more straightforward, since they’re made before assets are combined to become marital property.

Prenups may be more likely to be enforceable than postnups should one partner attempt to dispute it after a divorce.

How to Get a Prenup or Postnup

For a prenup or postnup agreement to be considered valid by judge, it must be clear, legally sound and fair.

Couples looking to save money may be able to use a template to create a prenup or postnup themselves.

It may still be a good idea, however, for each partner to at least have separate attorneys review the document before either one signs.

If your estate is more complex, you may want to consider hiring an attorney to draft the agreement.

Either way, having an attorney review the document will help protect your interests and also help ensure that a judge will deem the agreement is valid.

Reducing the Odds You’ll Ever Need to Use that Prenup or Postnup

While creating a prenup or postnup can be a smart move for even the most hopeful and romantic of couples, the ideal scenario is a happily-ever-after that leaves those contracts to gather dust.

Fighting about money is one of the top causes of strife among couples, and one of the main reasons married couples land in divorce court.

retirement account, can help partners feel empowered and able to focus on other important relationship goals.

Financial transparency, starting before and/or early in marriage, can also help mitigate marital tension over money.

To achieve more transparency, some couples may want to consider opening up a joint bank account, either after they tie the knot or before if they are living together and sharing household expenses.

While there are pros and cons to having a shared account, merging at least some of your money can help make it easier to track spending and stick to a household budget, while also fostering openness and teamwork.

For couples who’d rather not share every penny (or explain every purchase), having two separate accounts along with one joint account can be a good solution that helps keep money from becoming a source of tension in a marriage.

The Takeaway

Prenuptial and postnuptial agreements are both legal documents that address what will happen to marital assets if a married couple divorces or one of them dies.

A prenup is drafted before marriage, while a postnup can be drafted soon after or many years into marriage.

Both agreements can make divorce or the death of a partner significantly less traumatic.

These agreements can be particularly useful if one spouse has children from a previous marriage, has significant assets, and/or expects to receive a large inheritance or distribution from a family trust during the marriage.

It can be helpful to use an attorney to draw up or look over one of these agreements to make sure it’s legally sound.

For couples who are ready to integrate their finances, SoFi Money® makes it easy to create a joint account that gives couples shared access to their money.

Prefer to keep some (or all) of your finances separate? The SoFi Money app makes splitting bills and expenses easy by allowing you to send money directly from the app. If your partner is also a member of SoFi Money, he or she will get the money instantly.

Learn more about SoFi Money today.


SoFi Money®
SoFi Money is a cash management account, which is a brokerage product, offered by SoFi Securities LLC, member FINRA / SIPC . Neither SoFi nor its affiliates is a bank. SoFi has partnered with Allpoint to provide consumers with ATM access at any of the 55,000+ ATMs within the Allpoint network. Consumers will not be charged a fee when using an in-network ATM, however, third party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.

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Source: sofi.com

Where’s the House from ‘Home Alone 3’?

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Year in and year out, we know the holidays are almost upon us when TV networks start airing Home Alone, the iconic family movie that has by now become synonymous with Christmas cheer. And while the first two Home Alone movies starring Macaulay Culkin are the clear fan favorites, the third one (written and produced by the same John Hughes that gave us the first two festive flicks) was deemed the least successful in the series — by far — and failed to make a lasting impression.

And that’s not because of the plot, cast, or setting, but rather the result of the ultra-high expectations created by the first two Home Alone movies, and the fondness audiences had for Macaulay Culkin (which refused to return for a role in the third one, despite popular demand). In fact, the plot of the third Home Alone was quite an elaborate — and downright frightening — one, seeing Alex Pruitt, an 8-year-old boy living in Chicago, fending off international spies who were seeking a top-secret computer chip that was hidden in his toy car.

The poster for Home Alone 3, featuring the house in the background.
The poster for Home Alone 3, featuring the house in the background. Image credit: IMDB

Unlike a normal cat burglar situation — the first two movies featured petty thieves just trying to score a hit during the holidays, eyeing million-dollar-homes left unattended while the owners were celebrating elsewhere — Home Alone 3 is actually a matter of national security. With four thieves (said to be working for a North Korean terrorist organization) looking to retrieve the toy car/computer chip gifted to Alex by his unknowing neighbor, Mrs. Hess, the movie’s plot tackles a far more dangerous situation that the first two, despite the light way in which it is presented.

But there are two major things that all the Home Alone movies have in common: a clever, brave 8-year-old that will stop at nothing to protect himself and a beautiful Chicago-area home that acts as the ‘battleground’ of sorts where the bad guys get what’s coming to them. And since we’ve already covered the house in the first Home Alone movies, we thought I’d be the perfect time to do some scouting and find the one in the third movie too, especially since it’s no less beautiful.

The real-life house from Home Alone 3

While the movie’s storyline places it in Chicago, the house used in the third Home Alone is located in Evanston — a city 12 miles north of Downtown Chicago. According to ItsFilmedThere.com, the exact address is 3026 Normandy Place, Evanston, and a quick Google Maps search confirms that, showing us the exact same Pruitt family house we see in the movie.

house in home alone 3 in real life
House in Home Alone 3 – Google Maps

According to real estate website Zillow.com, the Pruitt family home is worth a little over $1,000,000, with neighboring properties all selling for about the same amount — though admittedly, none of the other houses that line the street had a high profile movie credit in their property history. Nor did they have Hollywood A-listers on their grounds (just in case you forgot, the most famous cast member in Home Alone 3 was none other than Avengers star Scarlett Johansson, who played Alex Pruitt’s sister in the 1997 movie).

scarlett johansson as the sister in home alone 3
Screen grab from Home Alone 3, featuring a young Scarlett Johansson as the older sister.

Just in case you were wondering, the house where Alex Pruitt’s neighbor — Mrs. Hess — supposedly lived is actually located next door, at 3025 Normandy Place.

More famous TV homes

Richie Rich’s House is Actually the Biltmore Estate, America’s Largest Home
The ‘Fresh Prince of Bel-Air’ House Isn’t Even in Bel-Air
The Real-Life Homes from Modern Family — and Where to Find Them
The Simpsons House Gets a Modern Day Makeover

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Source: fancypantshomes.com