Monday, November 30, 2015
Snow season is coming. Snowblower advice
Monday, November 23, 2015
Are Your Housing dollars helping you build wealth
- As you pay down your mortgage each month your housing expense is building wealth
Equity Matters A LOT… Just Ask Freddie Mac
There are many reasons, both financial and non-financial, that homeownership remains an important part of the American Dream. One of the biggest reasons is the fact that it helps build family wealth. Recently, Freddie Mac wrote about the power of home equity. They explained:
“In the simplest terms, equity is the difference between how much your home is worth and how much you owe on your mortgage. You build equity by paying down your mortgage over time and through your home's appreciation. In a nutshell, your money is working for you and contributing toward your financial future.”
They went on to show an example where a person bought a home for $150,000 with a down payment of 10% ($15K), resulting in a loan amount of $135,000. The buyer secured a 30-year fixed-rate mortgage at 4.5% with a monthly mortgage payment of $684.03 (not including taxes and insurance).
The chart below demonstrates the home equity built after 7 years of making mortgage payments and assuming the historic national average of 3% per year home appreciation:
And that number continues to build as you continue to own the home.
Merrill Lynch published a report earlier this year that showed the average equity homeowners have acquired by certain ages.
Bottom Line
Home equity is important to building wealth as a family. Referring to the first scenario above,Freddie Mac explained:
“Now, if you continued to rent, and made the same payment of $684.03 per month, you'd have zero equity and no means to build it. Building equity is a critical part of homeownership and can help you create financial stability.”
Put your housing cost to work for you and your family. Let's get together to explore your options.
When you are ready to put your housing dollars to work toward building wealth, call, text or email.
HAPPY THANKSGIVING
Friday, November 20, 2015
Falling for their dream home
Some Highlights:
- 24% of all recent home buyers were single at the time of purchase
- 47% of single men cite the desire to own a home of their own as the primary reason to buy
- 18% of first-time buyers were single women
When you're ready to move toward that dream home, just call text or email
Thursday, November 19, 2015
Wednesday, November 18, 2015
Tuesday, November 17, 2015
Holiday Disasters Avoided
5 Holiday Hosting Disasters and How to Avoid Them
Take a look at the most common things that can go wrong when you have guests and learn how to prevent them.
Imagine you’re preparing to host your annual holiday party, and you’re past the point of no return. The veggies and meats have been bought. Guests are already braving busy airports and crowded highways to get to your home -- and then your oven won’t turn on. Your home-cooked meal has quickly turned into a microwave dinner.
That’s just one of many hosting nightmares that can end your holiday party before it even begins. Thankfully, some of the most damaging mishaps easily can be avoided. We collected five of the most prevalent issues and give you preventative tips to keep your holiday party on track.
Problem: The Oven Doesn’t Heat
For any holiday occasion, the oven is the most important appliance in your house. If it fails to work, the centerpiece of your meal could go from roasted beef, ham, duck, or Tofurky to Peking Duck from the local Chinese takeout joint.
How to avoid:
How to avoid:
- There are any number of reasons a stove can break, but one common cause of disaster is easy to prevent. Don’t self-clean your oven until AFTER the holidays. You risk blowing a fuse or a thermostat, and tracking down an oven technician around the holidays can be tough.
Problem: The Kitchen Sink Clogs
The day after Thanksgiving is the busiest of the year for plumbers. The prime cause of this clog-a-thon is the mistreatment of drains when cooking holiday feasts. We hope your Thanksgiving went well, and that you avoid clog-a-thons for the rest of the holidays.
How to avoid:
How to avoid:
- Fats and cooking oils can solidify in your pipes, so never dispose of them in your kitchen sink.
- If you have a garbage disposal, make sure it’s running before anything goes in it, and never feed it any stringy, fibrous, or starchy foods like poultry skins or potato peels.
- To fix, don’t rely on chemical drain-clearing products that can harm your pipes. Use a snake instead, available for $15 at your local hardware store. Best to keep one on hand.
Problem: The Heat Goes Out
As the party’s host, you’re supposed to hang guests’ coats -- not apologize to them for having to keep them on. A lack of heat can stop a holiday party dead in its tracks.
How to avoid:
How to avoid:
- The key to avoiding freezing your party to a standstill is regular maintenance of your HVAC. Every 90 days, a new one-inch pleated furnace filter should be installed. If you haven’t done it in a while, now’s a good time to replace it.
- Also inspect insulation on refrigerant lines that are leading into your house. Replace them if they're missing or damaged.
Problem: The Toilet Stops Up
Toilets have a way of clogging up at the worst times, such as during parties and when you have overnight guests. This is especially true if you have a low-flow toilet from the early 1990s.
How to avoid:
How to avoid:
- Don’t flush anything other than sewage and toilet paper down the toilet. And there’s nothing wrong with putting up a polite note to remind your guests to do the same.
Problem: The Fridge Doesn’t Cool
Without a properly functioning refrigerator, your meat could get contaminated, your dairy-based treats could go sour, and you may not be able to save your yummy leftovers. To avoid discovering a warm fridge after it’s too late, take these simple precautions.
How to avoid:
How to avoid:
- Get a thermometer for your refrigerator to make sure each shelf stays below 40 degrees and you can be aware of any temperature changes.
- Also make sure the condenser coils located on the back of the unit or beneath it are free to breathe. Coils blocked from circulating air by cereal boxes atop the fridge, or dirtied by dust or pet hair can prevent a fridge from keeping cool.
When you are ready for a new place to celebrate, call, text or email
Monday, November 16, 2015
The time to sell = NOW
Why You Should Sell Now… Before Winter Hits
People across the country are beginning to think about what their life will look like next year. It happens every Fall. We ponder whether we should relocate to a different part of the country to find better year-round weather or perhaps move across the state for better job opportunities.
Homeowners in this situation must consider whether they should sell their house now or wait. If you are one of these potential sellers, here are five important reasons to do it now versus the dead of winter.
1. Demand is Strong
Foot traffic refers to the number of people out actually physically looking at home right now. The latest foot traffic numbers show that buyers are still out in force looking for their dream home. These buyers are ready, willing and able to buy…and are in the market right now!
As we get later into the year, many people have other things (weather, holidays, etc.) that distract them from searching for a home. Take advantage of the buyer activity currently in the market.
2. There Is Less Competition Now
Housing supply is still well under the 6 months’ supply necessary for a normal market. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market.
There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as real estate values have increased over the last two years. Many of these homes will be coming to the market in the near future.
Also, new construction of single-family homes is again beginning to increase. A study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference).
The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell.
3. The Process Will Be Quicker
One of the biggest challenges of the housing market in recent times has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. Any delay in the process is always prolonged during the winter holiday season. Getting your house sold and closed before those delays begin will lend itself to a smoother transaction.
4. There Will Never Be a Better Time to Move-Up
If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 18.1% from now to 2019. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30-year housing expense with an interest rate below 4% right now. Rates are projected to rise by this time next year.
5. It’s Time to Move On with Your Life
Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should?
Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market. Perhaps, the time has come for you and your family to move on and start living the life you desire.
That is what is truly important.
Ready to get it done, call, text or email
Friday, November 13, 2015
One thing not to worry about when selling your home
Don't believe the rumors. It's not overly difficult for you or for the potential buyer of your home to get a mortgage
So why not move forward toward the home you really want. Call, text or email me.
Tuesday, November 10, 2015
35 ways to perk up your home for the holidays
Wednesday, November 4, 2015
Harrisburg Area Housing Market Data
When you are ready to see how this impacts the home you want to buy or sell, just call, text or email
Monday, November 2, 2015
Things you contorl about selling your home
TAKE CARE OF THESE TO GET HOME SOLD
5. Depressing landscaping
There are a lot of things you can’t control in the home-selling process. You can’t force people to come see your home or make an offer on it. But you can make sure to take care of some easy repairs that would otherwise turn off prospective buyers. Look around and make sure you haven’t ignored any of these 10 repairs that can make a buyer think twice about your asking price.
1. Paint colors that just don’t blend in
The color of your home is one of the first things a buyer will notice. If it’s a very different color from your neighborhood or general area, you should paint it something more innocuous. (Hear that, Sandra Cisneros?) Most buyers don’t want to live in the only pink house in town.
The same goes for the interior. If your living room is bright orange, paint over it. Choose a neutral color so buyers can project their own ideas onto it.
2. A front door that’s not inviting
The front door is one of the next things a buyer will notice. If the door is flimsy, cheap, or outdated, it’ll discourage the buyer before it’s even opened. Spring for a new one—it’s the most reliable update you can perform to recoup your cost.
3. A busted doorbelll
While you’re at it, don’t forget the doorbell! Having one that works with a friendly, crisp chime is a sign that your house has been well taken care of.
4. Tattered window and door screens
Buyers will notice screens that look more like Swiss cheese than insect shields. You don’t necessarily have to spring for a whole new set—just grab some screen repair patches (they’re cheap) and fill in the tears.
5. Depressing landscaping
As potential buyers drive up to your home, they’ll notice everything—the trees, the grass, the rock pathway, and the plants out front. And it matters. If your lawn is home to a half-dead tree, yellowing grass, unkempt shrubs, and a pathway swallowed by weeds, you might get more lowball offers than you anticipated.
Keep the plants trimmed and the grass freshly cut. Make sure the walkway is clear and fallen branches are removed from the lawn. A fresh layer of mulch will brighten up the outside, too.
6. An unpleasant smell of … something
Nothing can turn a buyer off faster than the stench of faded cigarettes or poorly trained pets. Of course, it’s hard for us to smell our homes after we’ve lived in them for a while, so ask a diplomatic friend to sniff your place. If it stinks, start cleaning.
7. Eerie dripping sounds
If potential buyers hear a dripping faucet or running toilet when touring the house, they might start questioning the building’s integrity or the seller’s level of care. These are quick DIY fixes that shouldn’t go ignored.
8. Bad lighting
Replace harsh lights with bulbs that have a softer glow. Clean out light fixtures to get rid of dirt or dead bugs that can mute the lighting (not to mention look gross).
9. Squeaky hinges
Doors that groan when they open are for horror movies, not homes for sale. Grab a lubricant (such as white lithium grease, but in a pinch you can use cooking oil) and grease the hinges to stop the squeak.
10. An outdated kitchen
Completely renovating a kitchen can get real expensive, real fast. Keep it simple by adding a fresh coat of paint. Although we did say you should keep paint colors neutral, here’s where you can try something more inviting—like pale yellow, a color we associate with light and joy. Switch out old cabinet knobs and handles for something fresher like nickel cup pulls.
Subscribe to:
Posts (Atom)