Give Yourself a Real Estate Treat this Holiday Season

Why Waiting Until After the Holidays to Sell Isn’t a Smart Decision

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Top 10 Most Expensive Mistakes You’re Making on Your Home

Top 10 Most Expensive Mistakes You’re Making on Your Home: Homes cost a lot of money to maintain. But are you spending extra money unnecessarily on the upkeep of your home?

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How Long Do Families Stay in Homes

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How Long Do Families Stay in a Home?

GET A HOME INSPECTION

I will always recommend that my buyers get and attend a home inspection.  It protects their investment and teaches them about their new home.

So you made an offer, it was accepted, and now your next task is to have the home inspected prior to closing. More often than not, your agent may have made your offer contingent on a clean home inspection.

This contingency allows you to renegotiate the price paid for the home, ask the sellers to cover repairs, or even, in some cases, walk away. Your agent can advise you on the best course of action once the report is filed.

How to Choose an Inspector

Your agent will most likely have a short list of inspectors that they have worked with in the past that they can recommend to you. Realtor.com suggests that you consider the following 5 areas when choosing the right home inspector for you:

1. Qualifications – find out what’s included in your inspection & if the age or location of your home may warrant specific certifications or specialties.
2. Sample Reports – ask for a sample inspection report so you can review how thoroughly they will be inspecting your dream home. The more detailed the report the better in most cases.
3. References – do your homework – ask for phone numbers and names of past clients that you can call to ask about their experience.
4. Memberships – Not all inspectors belong to a national or state association of home inspectors, and membership in one of these groups should not be the only way to evaluate your choice. Often membership in one of these organizations means that there is continued training and education provided.
5. Errors & Omission Insurance – Find out what the liability of the inspector or inspection company is once the inspection is over. The inspector is only human after all, and it is possible that they might miss something they should have seen.

Ask your inspector if it’s ok for you to tag along during the inspection. That way they can point out anything that should be addressed or fixed.

Don’t be surprised to see your inspector climbing on the roof, crawling around in the attic, and on the floors. The job of the inspector is to protect your investment and find any issues with the home, including but not limited to: the roof, plumbing, electrical components, appliances, heating & air conditioning systems, ventilation, windows, the fireplace & chimney, the foundation and so much more!

Bottom Line

They say ‘ignorance is bliss,’ but not when investing your hard-earned money in a home of your own. Work with a professional you can trust to give you the most information possible about your new home so that you can make the most educated decision about your purchase.

For any and all real estate needs or questions, call, text or email me.

HOW TO MAKE THE MOST APPEALING PRESENTATION OF YOUR HOME

10 Interior Design Trends That Turn Off Home Buyers

By Patricia-Anne Tom | Oct 15, 2014

You want your home to look its best, and maybe you’ve been inspired by the interior design trends you’ve seen in magazines, on TV or on design websites.

But following some of the hottest home remodeling and interior design trends can backfire when it comes time to sell your home.

Buyers want to picture themselves in a home, and highly individualistic touches can get in the way of that.

When you’re ready to sell your home, it’s best to put things in pristine, move-in condition and remove all of the individual touches that made your house a home.

After all, your goal is to get potential buyers to picture themselves in the home—and they won’t be able to do that if your decorating style still dominates.

Check out the caveats that go along with these home interior design trends.

1. Boldly Painted Walls

Decorators often tout black or another bold paint color as the perfect backdrop to metallic accessories or appliances in modern home design.

The reality is that people prefer the exterior and interior walls of a home to be neutral. Even though repainting is cheap and relatively easy to do, it’s still a pain and buyers might not want to bother.

When decorating, your best bet is to stick to an appeasing hue for the walls and use accessories to provide pops of color.

2. Wallpaper

Bold, graphic patterns increasingly are being incorporated into interior design, often in the form of wallpaper.

But wallpaper—even if it’s only on one wall—is an extremely personal choice and time-consuming to remove if it doesn’t appeal to the buyer

Consider replacing wallpaper with a neutral paint for broader appeal.

3. Lavish Light Fixtures

While potential buyers want rooms that seem airy and bright, beware of installing a showpiece light fixture that is too modern or ornate.

Fixtures should enhance your home—not steal the spotlight.

4. Gleaming Gold

Designers may be mixing silver and gold to give homes star quality, but it might be wise to change out fixtures if they have the wrong metallic sheen.

Gold can give a home an outdated, ’80s feel. Switching out the faucet and door handles with a more appealing finish—such as brushed nickel—is relatively inexpensive and can help make your home appear sleek rather than out of style.

5. Converted Garages

People want a covered parking space so that they have a safe place for their car—especially in areas where street parking is at a premium. Additionally, people often use their garage as storage space.

If you convert your garage into a space tailored your specific needs, such as a music practice room, it may not suit your potential buyers.

6. Converted Bedrooms

Like with the garage, people want rooms built for their original purpose.

If you’ve converted an unused bedroom to an office, walk-in closet, or a game room, make sure you can easily convert it back to a bedroom when you’re ready to sell.

7. Carpets

While designers love to play with the texture of shag carpeting as it feels soft underfoot, the majority of home buyers prefer hardwood floors.

People assume carpets trap dirt, germs and odors, and they don’t want to go through the hassle of steam cleaning their home before they can move in. Potential buyers also don’t want to spend time removing carpet to expose hardwood floors.

If someone really loves carpet, it’s much easier for them to add it themselves—after the purchase.

8. Too-Lush Landscaping

The “outdoor living room” is all the rage, and you may be tempted to build out your backyard into a lavish wilderness of flowers.

But potential buyers may be hesitant to buy a home with an overly landscaped property requiring a lot of maintenance.

Focus on creating or maintaining a nice and neat outdoor space that people can enjoy without too much fuss.

9. Pools and Hot Tubs

A pool may seem like a luxurious feature, but it can be a big turnoff for buyers.

Pools are perceived to be expensive to maintain and potential safety hazards, especially for families with children. Above-ground pools are eyesores and can leave a dead spot in the backyard.

These sentiments extend to hot tubs, too. Many people see hot tubs as breeding grounds for bacteria, and they are not a feature easily removed from the deck or back yard.

10. Fancy (or Not) Pet Products

Sales of pet products are expected to increase nearly $3 billion from last year, and there’s an increasing market for luxury pet items.

But even animal lovers don’t want to see another family’s pet paraphernalia in a potential home. Even if your home is immaculate, the presence of pet-related items will give the impression that it’s dirty.

Be sure to remove all traces of your pet—including toys, food dishes and photos—before listing your home for sale.

When you are considering selling your home, call, text or email me.  Help getting ready.  Top level marketing.  Nationwide relocation.

Don't assume you are not qualified

Don’t Disqualify Yourself… Over Half of All Loans Approved Have a FICO Score Under 750

The results of countless studies have shown that potential home buyers, and even current homeowners, have an inflated view of what is really required to qualify for a mortgage in today’s market.

One such study by the Wharton School of Business at the University of Pennsylvania, revealed that many Millennials have not yet considered purchasing a home, simply because they don’t believe they can qualify for a mortgage.

The article quoted Jessica Lautz, the National Association of Realtors’ Managing Director of Survey Research, as saying that there is a significant population that does not think they will be approved for a mortgage and doesn’t even try. The article also quoted Fannie Mae CEO Tim Mayopoulos: 

“I do think that there’s a sense out there in the marketplace among borrowers that credit may not be available, especially for people with lower credit scores.”

 Ellie Mae’s Vice President, Jonas Moe recently encouraged buyers to know their options before assuming that they do not qualify for a mortgage:

“Many potential home buyers are 'disqualifying' themselves. You don't need a 750 FICO Score and a 20% down payment to buy.”

So what credit score is necessary?

Below is a breakdown of the FICO Score Distribution of all closed (approved) loans in August fromEllie Mae’s latest Origination Report.

Over 50% of all approved loans had a FICO Score under 750. Many potential home buyers believe that they need a score over 780 to qualify.

Bottom Line

If owning a home of your own has always been a dream of yours and you are ready and willing to buy, find out if you are able to! Let’s get together to determine if your dreams can become a reality sooner than you thought!

Call, text or email me

Harrisburg real estate market thru Sept 2016

Remember that 6 months supply is considered a balanced market

Remember that a 6 Month supply is considered a balanced market.  

To see how this impacts the home you want to sell or buy, just call, text or email

Homebuyer Education

Homebuyer education – the member perk that keeps paying off

September 9, 2016by TAMMY TREFNY, FANNIE MAE

41

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Buying a home is complex – and many people just don’t understand the process or what it takes to get a mortgage.

Consumer surveys conducted by Fannie Mae’s Economic Research and Strategy Group (ESR) have shown 85 percent think they need to put more down (12-15 percent) than is actually required (3 percent for Fannie Mae’s HomeReadyÒ program, for those who qualify).

Research from ESR’s National Housing Survey shows that this common misunderstanding is even greater among households of modest means and minority households. More than half (54 percent) of those with income below $50,000 did not know what the minimum down payment could be. Similarly, 47 percent of African Americans and 48 percent of Hispanics were unaware.

Credit Education is Important

A home is the largest investment most consumers will ever make. Yet, few seek out the advice of independent professionals who could help them through the process like HUD-approved housing counseling agencies. “The availability of high-quality and independent professional housing advice could be the best kept secret in the industry,” says Joe Weisbord, a director in Fannie Mae’s Single-Family business who works on access to credit.

Although not well known, it’s an approach that works.

A study of the two-year loan performance of more than 18,000 pre-purchase counseling clients from the NeighborWorks America’s network found clients who received counseling were one-third less likely to become 90 or more days delinquent in the two years since obtaining their loan when compared to similar borrowers who did not receive pre-purchase counseling.

Empowering Borrowers

All HomeReady borrowers complete an online education course offered by Framework Homeownership.

Framework continues to get high marks from first time and repeat homebuyers. It provides the essential knowledge to prepare borrowers for homeownership.

But we’ve recently added flexibility for more in-depth help for buyers still facing real barriers like weak credit and limited savings. We’ve expanded our guidelines to accommodate one-on-one counseling, so consumers who meet with advisors for customized consultation (involving a comprehensive review of goals, household budget, and credit) can fulfill HomeReady’s educational requirement and be qualified with higher LTVs. Because these borrowers have gone through counseling that includes a thorough review of their budget and credit, so they can sustain that level of debt to income ratio (DTI).

We think this change opens the doors to homeownership for borrowers who were unable to qualify in the past based on their DTI. They can complete one-on-one counseling, and move into homeownership when they are ready.

The counseling industry is very excited about this change, and happy to be recognized for the great work that they do.

Hitting Home

Homeownership advisors are the untapped resource that can prepare today’s homebuyers for sustainable ownership.

Fannie Mae will continue to work with credit unions, real estate professionals, and housing counseling agencies to promote homebuyer education and responsible homeownership.

Like you, we want members to make housing decisions that reflect positively on all parties involved.

When you are in need of answers or education, call, text or email

Setback Thermostats - how they help and when NOT to use them

Advice and explanation from This Old House

When you need a new place to save energy, call, text or email.

Be Aware of what can increase your insurance

8 Things That Can Push Your Insurance Rates Through the Roof

Insurance companies are mysterious entities, and divining how they determine your home insurance rates, minimum liability, and every other confusing aspect of your policy is hardly a sport for the faint-hearted.

Even worse than the gobbledygook is when they surprise you—a new trampoline suddenly jacks up your premium, or that sweet new puppy means immediate cancellation.

Don’t get caught off guard—make sure you know what raises red flags over at your insurer’s HQ.

1. Swimming pool

There’s nothing better than splashing in a pool on a hot summer’s day, especially if it’s right outside your door. But insurance companies don’t care if you need to beat the heat. They see your new pool as an “attractive nuisance”—and nothing more.

“People play in and want to use these things, and they are inherently dangerous,” says Michael Thrasher, a research analyst who specializes in the insurance industry at ValuePenguin, a personal finance research and analysis company. “If they happen to fall in, you as a homeowner are responsible.”

And nothing concerns insurance brokers more than potential lawsuits. Standard policies come with $100,000 of liability coverage—which barely covers the attorney fees in a wrongful death, much less potential payouts.

“Every attorney I talk to recommends you purchase additional liability coverage if you have a pool,” Thrasher says.

2. Trampoline

These babies are also considered “attractive nuisances,” and most insurance brokers strongly recommend avoiding them completely because of the high risk of injuries or death.

While he admits it’s unusual, Thrasher says he’s heard of situations where a homeowner either can’t get coverage or is completely dropped by an insurance company because of a trampoline.

And as tempting as it might be, don’t hide the fact you have one from your insurance company. Some folks might assume there won’t be incidents because their kids are responsible, or because the trampoline is covered with a net or buried in the ground. But accidents happen—including neighbors’ children sneaking onto your property.

“If you don’t report a trampoline to your insurer, you’re opening up a door to have a claim denied,” Thrasher says.

3. ‘Dangerous’ dog breeds

Few insurance companies will outright tell you to ditch your beloved pup, but they might beg you to reconsider before adoption … and drop you if you pick the wrong breed.

Common no-no pets are Akitas, pit bulls, Rottweilers, and German shepherds, although you should check with your insurance company before heading to the breeder or shelter.

While this restriction might seem silly to a dog lover—some pit bulls are as sweet as pie—Thrasher says there’s a reason for it. The number of dog liability claims has decreased, but the cost of each has increased 16% year over year, thanks to increased medical costs and larger settlements and judgments.

Costwise, “these incidents are up there with a fire,” Thrasher says.

4. Upgrading your home’s exterior

Brick might look better, but don’t upgrade your exterior without letting your homeowners insurance agent know first. If a fire or natural disaster occurs and you’re forced to replace your home, you should remember that nicer materials like brick and stone are much more expensive than vinyl or aluminum siding. That can affect the amount of liability you need.

It’s rare to downgrade your exterior, but if you’re eager to replace that attractive stucco with something a little cheaper (OK, and admittedly easier to clean), check in with your agent. If your new selection isn’t fire-resistant or can’t handle weather damage, the insurer may cancel your policy.

5. Treehouse

Here’s another attractive nuisance your kids might be begging for: treehouses. (No, we’re not talking about freestanding jungle gyms or slides. We mean the ones literally built around a tree.)

Kids see an oasis of fun and happiness and come running, not caring the slightest that they might fall from 10 feet and break an arm, Thrasher says. Before building, discuss your plans with your agent, and expect it to affect how much liability you need to purchase—and by extension, your monthly premium.

6. Vacation homes

No, it doesn’t seem fair that your insurance company can ding you for a home you’re not even living in most of the time, but you should prepare for it to happen.

“People roll their eyes and say, ‘Well, there’s nothing different about this home—why do I pay more?'” Thrasher says. “But when you think about it, it makes sense.”

After all, your primary home is where you live most of the time—making burglaries less likely and meaning you can quickly fix any major problems that arise. If water starts leaking in the basement of your primary residence, you’ll know. If a damaging drip forms in your upstate cabin, it might be a few weeks (or even months) before you notice. That means higher risk, and thus, a higher premium.

7. Frequent Airbnb-ing

Don’t jump onto the home-sharing trend without remembering the golden home rentalrule: fewer than 90 days.

“If you rent out your home a few times a year via Airbnb and something were to happen, your insurance will probably cover them,” Thrasher says. That all changes when you reach the 90-day threshold. Because they’re covering you as an individual, not a business, it’s likely they won’t cover any claims on a property used for frequent home-sharing.

If you insist on going that route, work with your agent to figure out exactly what coverage you need. Or be prepared to shoulder the enormous burden of paying to repair damage from a fire or flooded basement all by yourself.

8. Lots of claims

Some people are naturally butterfingered. And while none of us blames you, your insurance company might. Consider the severity of each incident before filing a claim, otherwise you run the risk that your policy might be terminated.

“If you file four claims in a year for small things, all of a sudden you are starting to appear like someone who is very accident-prone,” Thrasher says.

At the very least, expect a premium increase after a couple of claims. And while it’s rare to be completely dropped, it might happen if your insurer determines you were at fault for most of the accidents.

Feeling hemmed in by all the rules? It’s a tricky process to navigate, but do one simple thing and you can avoid the chaos: Talk to your broker before making any major change. You’ll save yourself headaches—and potentially huge costs—down the line.

As always make and informed decision.  Need a way to comparison shop for coverage and cost?  Just call, test or email

How far will your money go in another state?

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Important Numbers for Homowners

Whether you are wondering how high to hang a towel bar or how high to make your kitchen cabinets, this article from This Old House has lots of the numbers you need

When you are ready to apply these numbers someplace new, call, text or email

Don't Lose Time Waiting

Why Lose Time Waiting for the Cable Guy? 5 Ways to Take Back That Time

By: Lisa Kaplan Gordon

Published: November 21, 2011

Americans waste almost five hours a year waiting for service people to show up. Use that time wisely by tackling these home maintenance tasks.

It seems like forever when you’re stuck at home waiting for the cable guy to show up. In fact, Americans on average cool their heels for 4.5 hours and waste $250 in wages annually waiting for service appointments, according to TOA Technologies’ 2011 Cost of Waiting Survey.

Instead of thrumming your fingers during long waits, take back that time by giving your home a little love and care. We’ve got five ideas that take five hours. Or come up with you own tasks. The goal is to be productive — tackle those home maintenance projects you’ve been putting off — and not let the cable guy send your blood pressure racing. And if your projects take a little longer, well, the cable guy can just wait for you.

• Replace cracked caulking. Prevent mold growth and drywall rot by digging out old caulking around sinks and tubs with a utility knife, and piping new caulking with a caulking gun. Smooth with your finger or a sponge.

• Seal air leaks. Scout and seal costly air leaks through doors, windows, attic access, and outlet covers. A candle can help you find those pesky air leaks — if it blows, there’s a breeze. Don’t forget to check recessed lighting, too.

• Deep clean. Get in the cracks, move the fridge, take apart the sofa, and get all the dirt and grimethat keeps your home from sparkling. A microfiber cloth works well for dusting and washing.

• Clean gutters. Clogged gutters can cause water problems inside your home. You should muck out your gutters at least twice a year — in spring and fall. Stormy weather could require more frequent cleaning.

• Mulch landscape. Spread mulch and generally prepare your yard for winter on your plant and shrub beds to hold down weeds and protect your landscape from dying of thirst in summer.

What’s the longest you’ve waited for a service person to show up?

Ready for a new place to wait?  Call, text or email

Saving Money when you remodel

There’s something romantic, rewarding, and even downright inspiring about bringing an outdated house into the 21st century—but ask anyone who’s been there and done it, and they’ll tell you the remodel process will test your patience, your budget, perhaps even your sanity.

“It’s a journey into the land of unknowns,” warns Mike McGrew, treasurer for the National Association of Realtors® and CEO of McGrew Real Estate in Lawrence, KS. “You just don’t know what’s inside that wall and how much more it might cost to remove, say, that sewer line until you get in there.”

That’s not to say that renovating a home can’t pay off big-time, especially in the long run. And luckily, there are ways to cut costs during the process. Let’s check some of them out.

1. Be armed with info about competing contractors

Selecting a trustworthy contractor can make a world of difference in the timeline of a home remodel, which will ultimately save you money. Of course, you’ll want to ask friends and acquaintances for recommendations, and follow up with references. But you might still be concerned that your budget isn’t quite as generous as the one deployed by your next-door frenemies, the Bickles. (Darn you, Bickles!) Do you have enough cash to make your dream renovation happen?

Here’s a little-known secret: Name-drop competitors and the prices they’ve quoted. More than likely, the contractor you’re meeting with will be willing to strike a deal to win your business. One resource worth tapping into is the contractor’s fair price and service guarantees for qualified members.

Once you narrow down your options, you should get at least three written estimates to compare costs and timelines, and verify applicable trade license, bonding, and insurance status. Another helpful tip: Insist on a payment schedule tied to project progress and keep at least 10% back until the job is completed to your satisfaction.

“Include the payment schedule in your written contract and a termination clause that allows you to walk away easily if terms aren’t met,” says Cheryl Reed, a spokeswoman for Angie’s List.

Now, if you have some basic DIY knowledge (or a kind friend willing to pitch in), you can save by skipping the contractor. But make sure you know what you’re getting into—there are some home improvement projects you simply shouldn’t DIY.

2. Know where to cut corners

As popular opinion has it, kitchens and bathrooms are the most desirable areas in the home to renovate, both yielding a return on investment around 85%, Reed says. But a major renovation for a kitchen or bathroom could cost around $20,000—and there’s no actual guarantee on that ROI estimate.

If that’s a scary number for you, don’t despair. There are some simple ways to spruce up these areas without spending too much.

In the bathroom: A fresh coat of paint here (or just about anywhere, for that matter) and new countertops can “really dress up the place,” McGrew says.

n the kitchen: You can easily make your kitchen look more expensive with a few simple fixes, says Deidre Hyland, Realtor for BHHS Fox & Roach Real Estate Agents & Associates in Medford, NJ. For example, you can replace cabinet and drawer knobs with more modern hardware or update appliances (when there’s a sale at one of the big-box stores).

3. Time your remodel just right

Homeowners frequently wait for warm weather of spring —along with that lovely spring tax refund—to start their home remodeling projects. But kicking off a renovation between January through early March—when there’s significantly less demand for contractors and materials—could allow you to land some good deals. Just be aware that weather conditions could make the project take longer.

Frozen ground and dry air are actually great conditions to dig foundations and pour concrete footers, and with some planning, you might be able to, say, complete a foundation or frame a room addition before the rainy season is in full force—and well ahead of when prices start to creep higher.

You should also know the best times of year to shop for any appliances you might need. (Hint: It’s not just the major holidays.)

4. Shop floor models

When it comes time to shop for a new refrigerator or oven, don’t forget that sometimes the best deals are in plain sight. In fact, floor models often are marked down by as much as 20%.

Just beware, McGrew warns: If a product on display is plugged in or is otherwise being used, you should check the warranty to see if the deal makes sense.

Many stores also have a small inventory of “scratch and dent” items that are marked down. And when they’re not, customers can point out the flaws and see how low a sales associate is willing to mark it down—sometimes, the price can be reduced by up to 20%

Other times, you can luck out with other people’s discards.

“You can find discounted appliances that were purchased and returned just because they didn’t fit,” says Todd Ricci, owner of C. Ricci & Sons Painting Contractors in North Haven, CT. “They are still brand-new.” (This is where we offer a friendly reminder to measure your space before starting any remodel! You’re welcome.)

5. Opt for ready-to-assemble cabinetry

New cabinets can easily become one of the most expensive parts of a kitchen remodel, accounting for as much as 40% of your renovation budget. But going for ready-to-assemble or semicustom cabinets can cut the cost of cabinets by nearly half.

Prices typically start from as low as $70 per foot for budget to midlevel cabinets. Compare this to the cost of custom cabinets—which range from $500 to $1,200 per linear foot—and you’ll quickly realize this simple workaround could land a pretty sweet deal. (The range in prices depends on factors such as style, material, and cost of installation.)

6. Reuse materials

Ask your contractor if he has any materials left over from a previous job that you could snag at a fraction of the cost. Of course, this means you’ll need to be flexible about your materials and have some wiggle room when it comes to a specific paint color or shade of countertop.

Maybe that gray granite is just a tad lighter than you originally had in mind, but it still looks good—and, of course, will put a lighter load on your project’s bottom line.

We’re not saying you won’t drop a chunk of change on upgrading your home. You will! But that doesn’t mean you can’t be smart about it and save some cash along the way.

When you are considering whether to do a major remodel or move to a new home, call, text or email.