Tuesday, February 23, 2016

Thinking of Buying A Home? What Are You Waiting For?


Thinking of Buying A Home? What Are You Waiting For? | Keeping Current Matters

With spring right around the corner, you may be wondering if you should wait to enter the housing market. Here are four great reasons to consider buying a home today instead of waiting.
  1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.3% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.4% over the next year. The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent reportprojects home values to appreciate by more than 3.2% a year for the next 5 years. The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.
  1. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have remained below 4%. Most experts predict that they will begin to rise over the next 12 months. The Mortgage Bankers Association, Freddie Mac & theNational Association of Realtors are in unison projecting that rates will be up almost three-quarters of a percentage point by this time next year. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home.
  1. Either Way You Are Paying a Mortgage

As a paper from the Joint Center for Housing Studies at Harvard University explains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.”
  1. It’s Time to Move On with Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe it is time to buy.

If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Bottom Line

If you are ready and willing to buy, find out if you are able to. Meet with a local real estate professional who can help you find your dream home.


Source: Keeping Current Matters / KCM Crew 02232016

Tuesday, February 16, 2016

HOW TO KNOW IF YOUR HOME IS MAKING YOU SICK?

Between flu season and spring allergies and surprise summer colds, it can be difficult to stay healthy. But what if the biggest culprits aren't high pollen counts or people who don't cover their mouths when they sneeze? It could be that your house is making you sick. "Toxins, pesticides, gases, mites, and molds are everywhere, and the more you're exposed to them, the greater your risk for developing the health problems they can cause," said WebMD.
And the numbers are a bit staggering. According to the Environmental Protection Agency and the Department of Housing and Urban Development, "More than 30 million homes have significant health issues," said the Washington Post. "The trouble is that many homeowners and renters aren't aware of the link between their housing and their health. Carbon monoxide poisoning can initially resemble the flu. And exposure to some toxins may be confused with seasonal allergies." Here are some of the biggest offenders and what to look out for: Dirty carpet Every step you take through your house can be spreading dangerous germs. Tracking in dirt and animal waste can pose health risks, while using rugs in areas that are damp has been shown to exacerbate asthma symptoms. Vacuuming frequently and having regular deep cleanings is recommended for carpeted spaces. But, your vacuum could be doing more harm than good.



Southside Restoration
"This essential household item, which we are recommending to take care of most household allergens, could actually be spewing them all back into the air," said Huffington Post. "The best vacuum has a HEPA filter, (which) filters more than 99 percent of the particulates in air. And if you use a cleaning service, make sure they use a HEPA-filter vacuum, as well, so your home isn't being contaminated from allergens in previous houses." Open trashcans and other standing water Mosquitoes are attracted to water and will seek out the little bit that collects in the bottom of your open trashcan or kiddie pool. Keeping an eye out for potential problem areas can help keep mosquito bites at bay and help prevent more dangerous conditions like West Nile and the Zika Virus.



Total Mosquito Control
Critters Leaving dog food in the backyard can attract rats and mice, and even bobcats and coyotes. Keeping a vigilant eye out can help ward of predators and nuisances, but bringing food in promptly if you're feeding your animals outdoors is a better way to keep them safe. Dust mites Just the term alone is enough to make us cringe. But that's nothing like having to deal with a dust mite infestation. The best way to keep them away:
  • Keep cool - dust mites need a warm, humid environment to survive.
  • Clean frequently - limiting dust and dirt in your home is key.
  • Wash your bedding - bedding and mattresses are among dust mites' favorite spots to hang out. Washing them in hot water can help kill them off. A special mattress cover that protects your sleeping area can also help.
Gases According to the Centers for Disease Control and Prevention (CDC), nearly 400 Americans die from unintentional carbon monoxide poisoning every year. Carbon monoxide is a toxic gas that is colorless and odorless. Installing a carbon monoxide monitor, which you can pick up for under $100, is the easiest way to prevent a tragedy. Carbon monoxide is perhaps the most well-known combustion gas that can be a danger in the home, but it's not the only one. Nitrogen oxides and sulfur dioxide "can cause flu-like symptoms, respiratory illnesses, or even death," said WebMD. "Don't use unvented combustion appliances (such as portable kerosene heaters) indoors. Use an exhaust hood over a gas stove. Clean and maintain your chimneys and furnace every year, making sure that they are properly vented." Water pollution "The U.S. has one of the safest water supplies in the world, but that doesn't mean it's failsafe," said WebMD.

 
The Fiscal Times
Indeed. The critical situation in Flint, Michigan, which has poisoned thousands of residents with its unsafe water, is unusual - thankfully - but that doesn't mean we all shouldn't be vigilant about our drinking water. "To check the water quality in your area, call the EPA's Drinking Water Hotline at (800) 246-4791, or visit the web site at www.epa.gov/safewater/dwhealth.html. If you use a private well, test your water every year for nitrates and bacteria." Lead and radon In an older home, lead and radon could be a dangerous issue. "More than 20 million housing units have a lead-based paint hazard. And more than 6.8 million homes have radon exposures above the level at which remedial action should be taken, as determined by the EPA," said the Washington Post. There's an easy test to check for lead paint and radon - important since both can cause illness or even death. Mold One of the most dangerous substances you can be subjected to in your home is mold. Often, mold is unseen because it's behind walls. Checking for the nasty black stuff that you can see with the naked eye and then doing a leak check are the first steps toward eradication. "Unseen leaks may be causing mold growth in your home, which can be problematic for people prone to asthma and allergy induced breathing problems," said Huffington Post. "Check pipes, closets, basements, and attics to ensure all is dry. If you find any leaky areas, clean and dry where the water has accumulated, and contact a plumber or roofer to fix the situation." The air conditioner can also be a culprit. "When air-conditioning cools your home, for example, it often leaves traces of water in the ducts that become the perfect breeding ground for mold and bacteria," they said. "That microbial growth is often the cause of respiratory issues—asthma, allergies, coughing, and headaches. But it should also be said that not all air ducts become contaminated, and not all people become symptomatic from those that do." Having air ducts cleaned out by a professional every few years can help, and will also keep your machine running better.
Source: Realty Times, Jaymi Naciri, February 2016

Wednesday, February 10, 2016

YOUR CREDIT SCORES EXPLAINED

Lenders want to give you a mortgage, but they also want to minimize their own risk. The easiest way to retard risk is by using your credit scores to make lending decisions. Credit scores are compiled separately by three consumer reporting agencies -- Equifax, Experian, and Trans Union. These credit reporting bureaus calculate scores differently, and base their scores on information that may differ from other bureaus. Equifax Beacon 5.0 Facta: scores range from 334 to 818. Experian Fair Isaac V2: scores range from 320 to 844. Trans Union FICO Risk score Classic 04: scores range from 309 to 839. Your credit score is a number that reflects the information in your credit report, whether you pay your bills on time, how much you owe creditors, payoffs, and derogatory information such as liens. It also includes inquiries into your accounts from lenders, landlords, and employers. When you apply for a home loan, your application includes giving your lender permission to "pull your credit" and base the decision to lend to you and the rate of interest on the information contained in your credit scores. The higher the score, the better terms you'll receive from the lender. Once your credit scores are reviewed by your mortgage lender, you'll receive a computer-generated report of the findings in the mail, but it won't have a copy of your entire credit report. It may include key factors that adversely affected your scores. Some examples might include:
  • Too many inquiries in the last 12 months
  • Time since most recent account opening is too short
  • Proportion of loan balances to loan amounts is too high
  • Too many accounts with balances
  • Amount owed on revolving accounts is too high
What if you're declined for the loan, or your lender wants to charge higher interest than you were expecting? Is there anything you can do?
Yes, talk to your lender and ask for help repairing or correcting your scores. For example, you may have innocently done something that resulted in a negative score, such as closing a line of credit. Or, you may not have realized that a late payment would bring your score down as much as it has. The lender will tell you exactly what you need to do. Under federal law, you have the right to obtain a free copy of your credit report from each of the national consumer credit reporting agencies once a year. There are several sites where you can go to get your free reports includingAnnualCreditReport.com or FreeCreditReport.com. If you find an error such as derogatory data that doesn't belong to you, or an account that shows the wrong balance, simply show the lender your canceled check, release of lien or other proof that the credit report is wrong. You'll also have to correct the information yourself separately with each agency, and it may take a few weeks for the agencies to record the updated information. In the meantime, work with your lender and do what he/she tells you to do to get the best rate, including paying more than the minimums, paying on time, and making sure that your debt to income is well within your ability to repay all your loans.

Source: Realty Times/Blanch Evans 012816

Friday, February 5, 2016

6 TIPS TO MAKE HOUSE HUNTING MORE ENJOYABLE FOR KIDS

It is important to involve children in the search for homes for sale as much as possible. Doing so will help them feel excited about finding a new home or vacation destination and lessen the stress for both you and the kids.

My DREAM living room 491 S Sanga1CMPM
Here are five tips for house hunting with kids:
  1. Think beyond the house
Searching for homes can be an especially anxious time not just for adults, but for kids as well. You have to understand that these kids are being asked to leave their friends, their school, and their extracurricular activities. You can make house hunting more fun for your kids by asking your realtor to include stops at places that might interest your children. These may include parks, schools, churches, and sports fields. You might also plan side trips to allow your children to explore their new community.
  1. Help them appreciate what lies ahead
You can minimize the stress by helping your children focus on what lies ahead. You and your kids can search the internet and do some research on the place you’re moving to. You can try and find out how many people live there and the cool places to visit. You may also cut photos from old magazines to create collages of things your kids would like to see in their new home or new bedroom. While touring homes, you may ask your children to take photos, or keep a checklist noting the best features of each home you visit. This way, your kids will feel more involved in the house hunting process.
  1. Set the rules
You can avoid problems by talking with your kids prior to viewing homes. Review a list of rules with them. Make sure the kids know that they will be going through someone else’s home. Tell them not to touch any of the seller’s stuff. Instruct them that they must treat the seller’s home with respect and be on their best behaviour. Ensure that your kids are in the same room with you at all times.
  1. Don’t drag them to every house
During the initial search, it might be better if you leave your kids at home. To minimize distractions, you can just bring them along once you have narrowed your options down to just a few houses. That way, your little ones won’t get too attached to a particular property only to be disappointed when it gets cut from list.
  1. Turn your house hunting into a road trip
Another thing that you can do to make house hunting more fun for the kids is by turning it into an exciting family event. You may arrange a few family activities in the town or neighbourhood where you are visiting an open house. You may try a local eatery, a library, or a new park. This way, the kids will be encouraged to explore and see the potential in their new home and help establish a sense of belonging. Check out this website today for the latest listings in the Memphis.
Source: Keeping Current Matters 02052016

Tuesday, February 2, 2016

Things To Do Before Spring's Arrival


No Matter Which Groundhog You Listen to, You Should Sell Before Spring! | Keeping Current Matters
Spring is definitely closer than we think. If you like to make sure you've done everything you need to do before Spring's arrival, you may want to look at this list or if you want to focus more on your home click here. Anyhow, if you are considering at putting your house in the market, you may have less time than you think. The busy spring season is coming! Many sellers feel that the spring is the best time to place their home on the market as buyer demand traditionally increases at that time of year. However, the next six weeks before spring hits also have their own advantages. Here are five reasons to sell now.

1. Demand is Strong

Foot traffic refers to the number of people out actually physically looking at homes 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! Take advantage of the strong buyer activity currently in the market.

2. There Is Less Competition Now

Housing supply just dropped to 3.9 months, which is well under the 6 months’ supply that is needed for a normal housing market. This means, in many areas, 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 three 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 byHarris 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 increase in the spring. 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 has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. There is less overall business done in the winter. Therefore, the process will be less onerous than it will be in the spring. Getting your house sold and closed before the spring 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 5.4% over the next 12 months according to CoreLogic. 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 three-quarters of a percent by the end of 2016.

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. In case you decide to make the move now, we're here to help.
Sources: Keeping Current Matters/Bagwellinc.com/The Nest
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