The Southern Hotels’ New Addition to Gloriette

 Gloriette is the newly renovated restaurant located in The Southern Hotel in Covington. The restaurant will now have a new chef. The new executive chef will be Alex Harrell.

Harrell is no novice to the industry as he comes from the Virgin Hotel’s restaurant Commons Club. Before that, he was well known for his own restaurant Angeline and was also the executive chef at Hotel Peter & Paul in Marigny. He is excited to be on the Northshore so he will be closer to more of his vendors.

“It gets me closer to some of the farmers that are on the north shore and explore what’s there for growers and producers. It’s an opportunity to explore a different part of the area and meet and get to know a different part of the clientele,” Harrell explains.

Gloriette has a perfect local atmosphere that just gushes Southern Louisiana. This makes it a perfect place for locals to go for a night out on the town. The food is a nice mix between classic French and contemporary Louisiana flavors. It has a nice garden theme that blends into the hotel setting.

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How To Close on a Home in Record Time

 There are a ton of steps between choosing a home, making an offer and collecting the keys. Here are several tasks to do to make a smooth fast closing on a home.

1. Get All Contingencies Squared Away

This is a big part of the negotiations between the buyers and sellers. A contingency is a clause that can be added to a contract that allows a buyer to walk away from a contract without any penalties. Some of the most used contingencies are a mortgage contingency, an appraisal contingency, home sale contingency or a home inspection contingency. Before closing, you will want to make sure that any contingency in the sales contract has been resolved.

2. Review Your Closing Disclosure Form

Anyone who will be using a home loan, will get a closing statement before the closing happens. The closing disclosure will be given to you around three business days before the closing. It is a five-page form that lists out all the terms of your loan and tells you all the fees owed at closing. Take time to review everything on the closing disclosure and if you have any questions, make sure to contact your lender.

3. Do a Final Walkthrough

About a day before closing, do a walkthrough of the home with your real estate agent. Many professionals tell you that it is ideal to walk the property the morning of your closing to make sure the property is in the same or better condition as when you saw it last.

4. Bring the Proper Documents

Nothing is more frustrating than to not have all the documents at your closing. Before your closing gather your government-issued ID, a cashier’s check, and proof of home owner’s insurance.

5. Rope In Your Support Team

You want to have your support group who has been with you through the whole process at the closing. Having them attend the closing will help expedite the process if there are any hiccups. A lot of times the your real estate agent, loan officer, attorney, a title insurance rep and your closing agent will be required to be at the closing.

6. Schedule Transfer of the Utilities

Nothing is worse than getting the keys to your new home, and not having the utilities working when you open the door for the first time. Before your closing date, transfer your electric, gas, cable and internet and set them to be turned on in your name day of closing.

7. Sing On the Dotted Lines

There is a lot to sign at closing, so it will take time and be a little intimidating. Take your time and read through each document before signing. If you have any questions, ask them! Once the paperwork is signed there is no going back.

Remember if you are in the market for a home, start with hiring a real estate agent. They can get the ball rolling and can advise you on a lender who can help you with the mortgage process. Following these steps is a great way to help the transaction run quickly and smoothly.

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Six Musts Before You Buy a Home

 Purchasing a home is one of life’s biggest adventures and you want to make sure your decision is the best for the long run. This is why it is so important to do these six important things before you take the plunge into homeownership.

Figure out how much home you can afford

You do not want to be house poor, which means you purchased a home that you really cannot afford. A good rule of thumb is to never spend more than 30% of your take home pay on a home. This means that it not only includes the price of the home, but also things like mortgage interest, taxes, insurance, maintenance and renovations. Some professionals in the industry also advise not to spend over 28% of your gross monthly income on housing costs and no more than 36% on total debt. They call this the 28/36 rule.

When a mortgage lender wants to see how much you can afford, they usually use the 28/36 rule. You do not want to exceed more with your debt-to-income ratio. If this happens you will end up paying a higher interest rate if you even are qualified for a mortgage.

Budget for closing costs

Closing costs can be different for different areas of the country and the different loans that are available. If you purchase a home for $250,000, you will need to come up with around $5,000 to $17,500 for closing costs. Closing costs include a charge for obtaining your credit score, application fee, property taxes, appraisal fee, loan interest, homeowners insurance and title insurance.

“The biggest mistake that first time homeowners make is they forget that they need closing costs – not just the down payment of say 10% or 20%,” says Barbara Corcoran.

Save for a down payment

There are some loans out there that do not require a down payment, but these are far and few in between. Usually a down payment is the buyer’s choice of how much they want to put down. Just remember, that the less you put down up front, the more the mortgage loan will be which will make your payments higher. Most in the industry will suggest at least a 20% down payment which will clear you of any private mortgage insurance.

Check your credit score

Your credit score can be the ticket to a mortgage and good rates. “This is the number that mortgage lenders will look at to determine whether you are creditworthy, and thus dictates whether you’ll qualify for a home loan, and the rates you will get. Major lenders often require a minimum credit score of at least 620, if not more,” reports Realtor.com.

Get pre-approved for a mortgage

This is a must when it comes to making an offer. A pre-approval lets a seller know you can afford their home and you mean business. “In hot markets, mortgage pre-approval is almost required for a seller to take your offer seriously. That’s because it spells out exactly how much a lender has agreed to loan you, thus assuring the seller that you’r both willing and able,” says Realtor.com.

Make sure the neighborhood is a good fit

You want to be able to grow into your home and your neighborhood. Getting to know the area is a must. You would hate to move in and not be able to sleep the first night because of a street light outside your bedroom window. “You’re not just buying the property you’re looking at. You’re also buying into the whole neighborhood. That’s why you have to be certain that it has the vibe and amenities you want,” explains Realtor.com.

A Realtor can help you through the home buying process from start to finish. A real estate agent knows the ends and outs of the current market and will help your buying process be a huge success.

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A Perfect Facelift for Your Home’s Exterior

Everyone always thinks of updating their home’s interior, but what about the exterior? The exterior is your first layer of protection and the first thing people see. Here are several ways to enhance the exterior of the home from professionals in the industry.

A Safe Space

Hardie siding is the first big step to take when you are upgrading the exterior of your home. Good quality siding will help defend against storms, exterior fires, and pests. The siding will not do its job if it is not installed by a professional.

“A product that has withstood the test of time is important. But so is selecting a qualified contractor,” says Evan Crow, a custom homebuilder.

Minimal Upkeep

Protecting your home is not the only thing that siding is important for. You want the siding to also be easy to maintain. “To take care of your Hardie siding, inspect your gutters and downspouts regularly. Other than that, I encourage an annual soft wash with mild detergent, to prevent both aesthetic and integrity damage,” advises Crowe.

Personalized Curb Appeal

Any home renovation can be both fun and stressful all at the sametime. But it is nice when a visitor, or you drive up to a wonderful home with great curb appeal. Not only will Hardie siding give you protection, it will also give your home a great new look. “From trim boards to smooth lap siding to stucco-like panels, James Hardie has a number of authentic , cutting edge products,” says Crowe.

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