Spring is in full swing, and I don’t know about you, but along with it, spring cleaning tends to creep into my psyche. Before I know it, I find myself cleaning and reorganizing everything from what’s in my closet to my computer files. And the most important part for me is the feeling and the sense of accomplishment I get afterwards, it’s like ahhhh, I can breathe again!
Along those lines, if you are thinking about selling your house this Spring or Summer, de-cluttering your home is one of the most inexpensive yet vital parts of getting your house ready before opening your door to potential buyers.
It’s vital because most buyers want to see themselves someplace better and more beautiful. They want the feeling that if they moved in, it will be organized, clean and attractive. On the other hand, if they walk into a clutter and messy space, there is none of that feeling that life will be better. A cluttered home also gives the impression that it needs repairs and renovation, even if the house is in good condition.
And believe me I know that parting with things that have emotional value, is very difficult. We understand the need to do it, it doesn’t cost much, if anything, and yet it’s really hard to get it done. But rather than stuffing everything in boxes, take advantage of your move, moving is a great opportunity to get organized, I think of it as, “perfect time to edit ourselves down”. And there are certainly rewards for the effort you put into de-cluttering and downsizing. For one, you will spend less money for someone to move you, and you’re also going to spend less money for storage.
And one word of advice, don’t expect to do it all in one weekend, sometimes overwhelming yourself might just become the reason you abandon the whole project altogether. Give yourself ample time and don’t try to tackle your whole house in one shot. You can start with closets, kitchen panties, cabinets, and drawers. The rule of thumb is, be ruthless. If you’re unsure, or you have not used it for more than a year, then get rid of it.
Happy organizing and yes please make sure you don’t pack away your cat!
I learned a long time ago that “common sense is NOT common practice“. This is especially the case during the emotional time that surrounds buying a home, when people tend to do some non-commonsensical things. Here are a few that I’ve seen over the years that have delayed (and even killed) deals:
1. Don’t deposit cash into your bank accounts. Lenders need to source your money and cash is not really traceable. Small, explainable deposits are fine, but getting $10,000 from your parents as a gift in cash is not. Discuss the proper way to track your assets with your loan officer.
2. Don’t make any large purchases like a new car or a bunch of new furniture. New debt comes with it, including new monthly obligations. New obligations create new qualifications. People with new debt have higher ratios…higher ratios make for riskier loans…and sometimes qualified borrowers are no longer qualifying.
3. Don’t co-sign other loans for anyone. When you co-sign, you are obligated. With that obligation comes higher ratios, as well. Even if you swear you won’t be making the payments, the lender will be counting the payment against you.
4. Don’t change bank accounts. Remember, lenders need to source and track assets. That task is significantly easier when there is a consistency of accounts. Frankly, before you even transfer money between accounts, talk to your loan officer.
5. Don’t apply for new credit. It doesn’t matter whether it’s a new credit card or a new car, when you have your credit report run by organizations in multiple financial channels (mortgage, credit card, auto, etc.), your FICO score will be affected. Lower credit scores can determine your interest rate and maybe even your eligibility for approval.
6. Don’t close any credit accounts. Many clients have erroneously believed that having less available credit makes them less risky and more approvable. Wrong. A major component of your score is your length and depth credit history (as opposed to just your payment history) and your total usage of credit as a percentage of available credit. Closing accounts has a negative impact on both those determinants of your score.
The best advice is to fully disclose and discuss your plans with your loan officer before you do anything financial in nature. Any blip in income, assets, or credit should be reviewed and executed in a way to keep your application in the most positive light. And if you are not sure about an activity, always ask first.
Happy buying!
Okay, I have to admit, I LOVE referrals! When my phone rings and the person on the other end says they were referred to me, I just become elated. It’s like the biggest compliment I can receive from the friend or past client that referred me. When we enlist the services of any professional, we are usually looking for someone we can trust – someone proven who comes highly recommended and is willing to go the extra mile to help us achieve our goals and peace of mind.
And here are some additional built-in benefits consumers get working with referrals:
- Being referred is a testament the professional cares more about relationships than transactions.
- You save a lot of time and energy eliminating steps to research and look for someone you can trust.
- It adds a second level of accountability, the referred professional has vested interest to not only make sure you are satisfied but they have accountability to the person that referred you.
- They are more focused and spend more time providing exceptional service to their clients rather than spending time prospecting for new ones.
Working with referrals is a win-win for all parties involved. Think about the last time you referred someone or used the services of someone that was referred to you, how did your experience differ from finding someone on your own? Tell us about it, we would love to know!
Earth day 2012 is this weekend. As this day comes and goes, we all get a bit more conscious about the things we can do to reduce our foot print and preserve the resources and the beauty that mother earth has to offer. We all can make a difference, even if we do one little thing, one human being at a time.
As human population grows and grows, so are the electronic gadgets, phone, computers and the electronic devices we use on daily basis and with technology changing on a such fast speed, we upgrade many our devices on yearly basis. So what do you do with your old stuff? Do you recycle your old equipment or just throw it in the garbage? The EPA reported that only 15% of e-waste is recycled in the US each year. Which means the other 85% is filling up our landfills with toxic materials and carcinogens. This Earth Day, I urge you to review the below information as a guide to securely, responsibly and economically disposing obsolete technology, the new generations to come will thank us for doing so!
E-WASTE
Cell Phones,Computer Monitors,Keyboards, Batteries,Mouses,Video Camera, MP3 Player,
Video Game Consoles,Scanners, Webcams,Laptops.
For a more detailed list of what electronics can and cannot be recycled click here.
RULE OF THUMB
If your technology is:
< 3 years old consider selling
Between 3-5 years old, consider donating
>5 years recycling is the most realistic option
LOCAL PROGRAMS
Finding a local donation and/or disposal program is a snap with great resources provided by the EPA. Click here to search for a program near you.
CORPORATE DISPOSAL
Below is a list of convenient corporate disposal programs.
AT&T | Dell | Intel |
Nokia | Office Depot | T-Mobile |
Samsung | Sony | Motorola |
Sprint | Staples | Verizon |
Best Buy | eBay | LG |
Do you have additional info about recycling electronics? We would love for you to share them with us.
Since we are on the subject of Spring cleaning and house maintenance, 10 Home Maintenance Tips For Spring, and with summer months arriving soon, here is one more thing to add to the maintenance list to ensure keeping cool this summer! Perform an annual maintenance on your air conditioning unit now, before the real heat hits and A/C contractors become buys!
There are a few things that you can do yourself to help maintain the air conditioner:
- Ensure the filter is clean or replaced regularly. Disposable filters are inexpensive and should be replaced once per month during high use periods.
- Trim back plants so there is at least one foot of clearance from the A/C unit – this allows proper air flow, reducing motor strain.
- Sand and other debris can get sucked into the condenser coils. To clean the coils, first disconnect the power to the A/C and then use a garden hose to spray the coils clean.
I also recommend an annual maintenance service performed by a professional air conditioning technician. Always ensure the following items are included in the maintenance service:
- Condenser – check pressure, oil motor bearings, and current electrical draw; tighten all hardware and visually inspect wiring and condenser coils.
- Air Handler/Evaporator – Visually inspect wiring and oil motor bearings; clean or replace filter, tighten all hardware, inspect condensation drain, pan, pump, and auxiliary pan; clean drain system, and check that evaporator coils are clean and free of damage.
With proper maintenance, the air conditioner should run smoothly for years.
The sun is peeking out and the plants are starting to blossom, so it must be about time for spring chores again. Here's is an annual spring checklist of important issues to tend to around the house.
1. Roofing repairs: If you suspect winter storms may have damaged your roof, it needs to be inspected. (If you're not comfortable with the height or steepness of your roof, hire a licensed roofing contractor for the inspection.) Look for missing or loose shingles, including ridge-cap shingles.
Examine the condition of the flashings around chimneys, flue pipes, vent caps, and anyplace where the roof and walls intersect. Look for overhanging trees that could damage the roof in a wind storm, as well as buildups of leaves and other debris.
If you have roof damage in a number of areas, or if older shingles makes patching impractical, consider having the entire roof redone. Also, remember that if the shingles have been damaged by wind or by impact from falling tree limbs, the damage may be covered by your homeowners insurance.
2. Check gutters and downspouts: Look for areas where the fasteners may have pulled loose, and for any sags in the gutter run. Also, check for water stains that may indicate joints that have worked loose and are leaking. Clean leaves and debris to be ready for spring and summer rains.
3. Fences and gates: Fence posts are especially susceptible to groundwater saturation, and will loosen up and tilt if the soil around them gets soaked too deeply. Check fence posts in various areas by wiggling them to see how solidly embedded they are.
If any are loose, wait until the surrounding soil has dried out, then excavate around the bottom of the posts and pour additional concrete to stabilize them. Replace any posts that have rotted.
4. Clear yard debris: Inspect landscaping for damage, especially trees. If you see any cracked, leaning or otherwise dangerous conditions with any of your trees, have a licensed, insured tree company inspect and trim or remove them as needed.
Clean up leaves, needles, small limbs and other material that has accumulated. Do any spring pruning that's necessary. Remove and dispose of all dead plant material so it won't become a fire hazard as it dries.
5. Fans and air conditioners: Clean and check the operation of cooling fans, air conditioners and whole-house fans. Shut the power to the fan, remove the cover and wash with mild soapy water, then clean out dust from inside the fan with a shop vacuum -- do not operate the fan with the cover removed.
Check outdoor central air conditioning units for damage or debris buildup, and clean or replace any filters. Check the roof or wall caps where the fan ducts terminate to make sure they are undamaged and well sealed. Check dampers for smooth operation.
6. Check and adjust sprinklers: Run each set of in-ground sprinklers through a cycle, and watch how and where the water is hitting. Adjust or replace any sprinklers that are hitting your siding, washing out loose soil areas, spraying over foundation vents, or in any other way wetting areas on and around your house that shouldn't be getting wet.
7. Check vent blocks and faucet covers: As soon as you're comfortable that the danger of winter freezing is over, remove foundation vent blocks or open vent covers to allow air circulation in the crawl space.
While removing the vent covers, check the grade level around the foundation vents. Winter weather can move soil and create buildups or grade problems that will allow groundwater to drain through the vents into the crawl space, so re-grade as necessary. Remove outdoor faucet covers. Turn on the water supply to outdoor faucets if it's been shut off.
8. Prepare yard tools: Replace broken or damaged handles, and clean and condition metal parts. Tighten fittings and fasteners, sharpen cutting tools and mower blades, and service engines and belts in lawn mowers and other power equipment.
9. Change furnace filters: Now is the time to replace furnace filters that have become choked with dust from the winter heating season. This is especially important if you have central air conditioning, or if you utilize your heating system's fan to circulate air during the summer.
10. Check smoke detectors: Daylight Savings Time snuck up early again this year, and that's usually the semi-annual reminder to check your smoke alarms. So if you haven't already done it, now's the time. Replace the batteries, clean the covers, and test the detector's operation before it's too late.
If you have gas-fired appliances in the house, add a carbon monoxide detector as well (or check the operation of your existing one). CO2 detectors are inexpensive and easy to install, and are available at most home centers and other retailers of electrical parts and supplies.
Happy Spring Cleaning!
Forbes recently published it’s City/State rankings. The 2011 list has a decidedly Texas flavor!
America’s 25 Best-Performing Cities. Dallas Ranked number 20 but there were a total of 9 Texas cities in the top 25, including the top two cities (San Antonio and El Paso). See link for the entire list.
http://www.forbes.com/pictures/eddk45edeml/20-dallas-plano-irving-tx-2/#gallerycontent
The Best States For Business. Good news for Texas again. Texas Ranked #6 on this list.
http://www.forbes.com/pictures/mli45ggdd/6-texas/#gallerycontent
American Cities With Most Construction Underway. Several cities showed up again on this list with Dallas ranking number 2.
http://www.forbes.com/pictures/mhj45hhkh/2-dallas-tx/#gallerycontent
This is a follow up to my blog posted early March- FHA Loans and April Fools’ Day, and This is No Joke!
FHA just announced they are delaying the Collection Payoff Rule until July 1, 2012. Apparently the public outcry has FHA rethinking their position. FHA posted a notice on April 6 as follow:
In order to allow Mortgagees additional time to adapt their procedures to implement portions of the new guidance found in Mortgagee Letter 2012-03 (ML 2012-03), FHA is delaying the effective date of the following topics from ML 2012-03:
- Handling of Disputed Accounts, Public Records FHA Total User Guide Chapter 2, and
- Handbook 4155.1 4.C.2.e, Paying off Collections and Judgments.
The new effective date of this section is delayed until July 1, 2012. Prior to the effective date, FHA intends to seek additional input on this section and work to clarify guidance, as appropriate.
The Mortgagee Letter and FHA Total Scorecard User Guide will be updated and posted to HUD's website on Monday April 9, 2012. Please Note: With this extension, any case numbers assigned prior to July 1, 2012 are subject to the previous guidance in effect for the subject topics.
We will keep you posted on any additional developing updates on this.
Buying or selling your house should not be stressful!! Rather it should be a process you enjoy. Even though the process may seem over whelming and sometimes stressful, think of it as adding a new addition to your family, just like a pet or a baby, you go through some stress and preparation. The key is to do your homework, team up with a REALTOR that knows the market and has the experience to guide you through the process and protect your interests. After all, most people will go through this experience once or twice in their lifetime, so make it memorable!!
Tick-tock, tick-tock - The clock is ticking and once again the tax season is here! But this yearly ritual actually changes each year in small, but important ways. Here are just 3 things you need to know about filing your taxes this time around:
1. Two Extra Days to File!
This year, April 15 falls on a weekend, so that pushes the deadline into the following week. But, that's not the end of the story. This year, Emancipation Day--which is a legal holiday in the District of Columbia--will be observed on Monday, April 16. And since the tax deadline cannot fall on a holiday, it means the due date for filing your tax return is extended to Tuesday, April 17, 2012.
2. Extension to Make IRA Contributions!
In addition to the tax deadline being extended by two days, the deadline to contribute to your IRA is also extended to Tuesday, April 17, 2012. Along with this announcement, the IRS put together a list of 10 things you need to know about setting aside retirement money in an IRA.
3. Options for Paying Uncle Sam!
If you're experiencing money troubles and you owe money on your taxes from last year, you may be eligible to receive a 6-month extension on your payment. And you may be surprised to learn about the details of this program! Read about the important qualifications and implications of the IRS announcement.
Well the stats are in for February, and even though the sales of existing homes were lower in February by 0.9%, the numbers were actually higher by 8.8% compare to last February. NAR President Moe Veissi says market conditions are improving. “Supply and demand have become more balanced in more markets, but with tight supply in the lower price ranges – partially in the West,” he says. “When markets are balanced, we normally see prices rise one to two percentage points above the rate of inflation, but foreclosures and short sales are holding back median prices.”
2011also saw a huge jump in the sales of investment and vacation homes, the highest surge since 2005 according to the National Association of REALTORS. Investment-home sales were up by 64.5%, while vacation-home sales rose by 7% compare to similar sales in 2010. Investors with cash took advantage of market conditions. The rising rental income was another enticement to easily beat cash sitting in banks. 2012 is also on track to be another record year for investors, so if you don't know what to do with your extra cash! Consider investing in Real Estate.
In February, US Attorney General Eric Holder announced the unprecedented $25 billion national mortgage settlement with the five largest banks in the US. One of the provisions of the settlement is a $2,000 payment to homeowners who lost their homes to foreclosure.
A month later, people are asking, “When am I going to get my check?”
The answer is, “It depends.”
One thing is for certain. It won’t be this week or this month. It will take up to two months to select an administrator and six to nine months to actually get the ball rolling.
Then you have to meet a few other requirements.
- Did Bank of America, Citigroup, JPMorgan Chase, Wells Fargo or Ally Financial service your loan? If so, good, because the settlement only applies to them. But even then, you’ll only qualify if your loan was NOT a government-backed mortgage (such as FHA, VA, Fannie Mae and Freddie Mac loans), and which account for over half of home mortgages.
- Did you lose your house between Jan 1, 2008 and Dec 31, 2011? If so, good, because the settlement only covers those four years. (This period is for when the house went back to the bank or an investor, not the loan origination date, as some reports indicate.)
- Are you feeling lucky? The $1.5 billion set aside for these payments will cover 750,000 borrowers. We have no numbers on how many foreclosures these five lenders completed from 2008 to 2011, but there were roughly 3.8 million foreclosure sales during that period, over five times as many as will receive payments.
According to the national mortgage settlement site, eligible borrowers will be contacted. Given that everyone who is entitled to these checks has lost their home and have now moved, it will be interesting to see if they can actually find you. Hopefully you filled out a Change of Address with the US Postal Service.
Other provisions of the settlement include:
- $3 billion for refinancing lower interest rates for homeowners who are current on their payments but are underwater on their loan.
- $17 billion for principal reduction and short sale assistance for homeowners who are in default.
While this “unprecedented” settlement will certainly help a few individuals, it is an absolutely meaningless amount of money when compared to the $4 Trillion in excess mortgage debt that created during the credit bubble.
The Simple Truths of Stress
YOU Have a Choice in the Matter
The great comedian George Burns once said, "If you ask what is the single most important key to longevity, I would have to say it is avoiding worry, stress and tension. And if you didn't ask me, I'd still have to say it." As Mr. Burns lived to the age of 100, he likely took his own advice.
Finding simple and useful ways to manage stress can make a big difference on our health and quality of life. That's why we invite you to watch this short video from Simple Truths, which will teach you 10 ways that you can simplify your life. As the video attests, "Life is a series of choices and YOU can choose LESS stress." Starting right now.