About Me

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Central, Ohio, United States
Full time Real Estate agent/ consultant with HER Realtors in the Central Ohio area. Dedicated to a clients success using the latest real estate tools, honest communication, and available when you call!

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May-
We are thinking of putting on a deck off the back of the house. At the moment, before quotes, we have become a little grandiose in our plans but I have a feeling we will be brought down quickly when we see the cost.
Our first thought was to have a Trex Deck put on. I tried to tell my husband that it was about 2 times the cost of a regular boards. I was wrong. Seriously wrong. $.87 vs. $3.00 to $4.00 per board .
When did all these costs go up? I let you know what I find out..but we are thinking of actually 2 decks joined at a 45 degree angle. Enough room for our Gazebo at one end, the fire pit at the other. Sounds great in the planning.

May
Quotes are in and we've selected our builder .  Seem to be just what we are looking for-Realistic, ambitious, excited, and ready to go!  They drew out our plans on a CAD program and it looks just like what we envisioned.  Still a little grandiose but we're excited.

The plans have been approved by the city and we are about to start the building process for the deck. I'm excited to be enjoying it a little bit this summer and I'm also a little concerned as I know the ongoing maintenance when Trex isn't possible can be significant. - but for now...we start the build. We are using local contractors and so far I'm really happy and satisfied with the experience.
The 'call before you dig' people should be out by tomorrow and then it is on to the drilling for the posts. I tried to warn our contractors that our yard is a combination of rock, shale and more rock. There is no way to get around it. They said they were prepared. I remember seeing my neighbors when they put their in ground pool in- the number of trucks hauling those rocks away ...were hard to keep track of. At least they don't have to haul rocks away...

June-
 It's raining. and raining some more.  If you look ahead at the forecast, the entire month seems compromised.  - yes a few hours here and there but not enough time for a crew to get out, get holes dug, city approved and complete.  Seems like such a small thing, actually...till you look at the weather.

June
still raining and now we are half way into the month.  I said the long term forecast didn't look good and it still doesn't .  They believe they can start next week.  Fingers crossed! If we can't do it soon, the paint put on by utilities will fade!


Under all is the Land

"Under all is the land. Upon its wise utilization and widely allocated ownership depend other survival and growth of free institutions and of our civilization"

Part of the first paragraph to the Preamble to our Realtor Code of Ethics.

Were you ever aware that Realtors had a had a Code of Ethics?

"Such interest impose obligations beyond those of ordinary commerce. They impose grave social ...responsibility and a patriotic duty to which Realtors should dedicate themselves "

Did you ever think of your Realtor as patriotic in this sense?

It's a higher calling that most of the public in not aware of nor do they think about . We learn this when we become Realtors and are reminded at least once every 3 years when we are required to maintain our continuing education. Just wanted to share that with you.

Dreaded enemy!

I have met the enemy and he is me!
I spent most of this week-end cleaning out a spot I've dreaded for over 5 years..my basement. Storage space, yes. Junk collecter..no! It's all precious stuff! Well, reality is, it has been well loved for a long time but I've moved on, changed my taste, I don't know..but it now lies in tubs in the basement.

I don't have the largest of homes and don't have the ...space to show off my treasures in China Cabinets and I'm not into spreading it out all over the house but some of these things I've had for many many years. What to do!!

I haven't decided yet. I'm at a loss. These aren't treasurers anyone else would think valuable. Many I've used to stage houses over the years. But times are changing and it's time to find new homes for these things. I'm just not sure where or how to part with them.

Spring what?

Touching again on those terrible words 'spring cleaning'..but it's only March!! What better time to consider those terrible jobs.

 Why wait until the weather breaks and you would rather be anywhere but inside!

So- it's cold outside. Where to start? Pick a spot...top or bottom your choice.

One room at a time. Start left or right. Touch or clean in one direction and end in the middle. So, Clo...set to the left? Start there. Pull it all out, sort, get rid of, clean the shelves, vacuum or clean the floor, and straighten and put back everything. Don't forget the wood trim around the closet door and the base railing.

While you are deciding what the pitch, try the 'fly lady' website trick..get a trash bag and put 27 things in it- or more if you get inspired- that will leave and never come back.

Pull the bed from the wall, vacuum it out, clean the baseboards. Move on. Toys? stuff laying around? find a new home for it. They can live somewhere..just not here.

I've not mentioned the windows but the insides and the casings, go to it. The outsides should/could wait until the spring rains are over. Do the curtains need cleaned? When WAS the last time they there dusted, cleaned, vacuumed or washed? Sometimes I have a hard time remembering. It doesn't make the fun thing to do list.

One room done and done. Doesn't that feel much better?

Every Sellers bane and every Realtor's nightmare.

Talking to a Seller about why there property is not selling isn't always this easy. It's Convincing a Seller that selling a home has NOTHING to do with the way we live every day... It has everything to do with presenting a product that would convince someone to purchase it by keeping it as neat, clean, cleared and enhanced with fresh paint and nice touches like flowers, fresh towels and clean smells
 
If you are selling or have thought about it, you need to know that for that period of time until you are in contract, your home becomes a product. Just as if you were in a store room looking at a new bedroom set- you would not buy from a company that showed you bed that had been slept in or clothes all over it.  You would want it to be clean, neat, and look as if it's ready to buy.

The Truth about being a Realtor

Being a Realtor is not an easy job..but then, what job worth doing is easy?

Everyone thinks you make millions and usually, most of that is coming from their sale.

In most jobs, paychecks are usually steady. Weekly/bi-weekly/monthly..but steady..unless you are a Realtor.

Everyone has taxes taken out of their check- FICA/RITA/Social Security- unless you are a Realtor. Then, you need to take tha...t out of each check before you spend a dime!

Everyone has a desk to work at and a phone to use- unless you are a Realtor. You can have those things, but they come at a monthly fee.

Everyone comes to work at a certain time and leaves at a certain time...unless you are a Realtor. Being on call is what you think of with a Doctor however, I have received calls at 2 or 3 in the morning. Sometimes as early as 6:00am and as late as 10:00.
I accept these calls because it's easier to fix a small problem before it turns into a bigger one either in the transaction or in the Seller or Buyers mind because they can't reach anyone.

If you work at a job-how many ever hours you work, you will be paid- unless you are a Realtor.

Realtors get paid per closing. Period. No closing. No pay. All those long hard hours/being available 24/7 or close to it/ traveling all those miles come at the expense of the Realtor.

If you work at a job and receive a check, you get the entire check after taxes - unless you are a Realtor. That commission check goes into 4 pieces. 2 pieces go to the other Realtor. Of the remaining 2 pieces, that is split between the company the Realtor works for and the Realtor.

People who chose to be Realtors do so for many reasons but most of all, because they think it is a flexible job. And sometimes they are correct. It's flexible in that you can move one job/one appointment to a different time. There is no such thing as a part-time agent. They can be available part time, but they will be shifting those hours and working them just the same.

What Realtors bring to your door to help you Buy or Sell a property is incredibly valuable. Their knowledge touches on almost every topic but they also have to be careful. Even though they may the information, they can't always share it but rather lead you to the right sources because to do other wise would be practicing law/home inspections/and possibly loose their license.

To be a Realtor you must go back to school. You will be taking 3-4 or 5 courses/graduated/ pass a state mandated test , another 10 hours after the license is granted take 30 hours continuing education every 3 years for the rest of their career. What they learn in the 'real world' of Real Estate and how they assist and see over your specific purchase or sale is worth every penny they are paid.

Home Staging

When trying to sell a home , people want to know if there house is 'staged' to sell.  Often they ask for help.  I will go in with props if needed, and rearrange lighting, seating, or room function only to hear someone say: "wow!  I wish I would have known this before, I might not have wanted to move"!


I think there is a point there.  People get set in their ways.  A fresh eye comes in and gives a new prospective on an old living situation.  Why do  people should  wait until they move to have someone come in and assess their home?  I believe you should be practicing all the time.  Paint colors, furniture placement. It might solve a lot of your frustrations with the house and you might just decide to live there a little longer!


So, how does one get started?
Every home reflects the people living there.  What kind of home do you want to have? Clean, cool, contemporary, warm, inviting, country?    So start there.  What kind of feeling do you want people to have when they walk through the front door?

 Now,  go to the front door.  With the door at your back, try to see the living room as a visitor does and ask these questions:  What does the entry- the room room make you think of?  Does it seem like a space you would enjoy spending time in?  Is it light and bright?  What kind of a feeling does the room give off?  It can be tastefully mis-matched or it can be down right old and worn and not a well loved space. Which do you have?

Ask for help.  More than one set of eyes can make a big difference and no excuses when you hear or feel negative responses.  Your best friend or neighbor would be a place to start.  Family might make it tougher.

Once you have your answers, the next part is if it doesn't meet your expectations, how does one change it without breaking the bank? and should  a well staged home look like?

Your entry should be open, light and bright.  Your living room should have no obstructions .  So, placing furniture so that you can walk into a room without walking around something is important.  Colors can be any colors as long as they are not overpowering and you start with a pallet of colors rather than just throwing them altogether and having a big mess.  Pick a main color for the walls.  Pick out 2 more colors for the rooms pieces parts...chairs, curtains/blinds and accent colors.  You aren't moving anywhere so you don't have to paint everything white.  And, if you are moving, keep the color, but subdue and mute it.



 Paint is an easy way to change the feeling of the room or just to clean it up.
Get rid of clutter and items that don't belong into the room is another great thing to do.
Get a trash bag..any size..and keep it handy for those things that are going to be thrown out.
Get a box - and keep it handy to put items you will store and another for the items that are too good to throw away but that you are tired of or don't want or have room to store.




 Have you noticed all the new apartments going up over the past few years? Don't you sometimes thing...where are all these people coming from that are moving into them?

Here is a section of a report from ReisReport:

"Demand for apartment units increased during the fourth quarter, with occupied stock increasing by 46,986 units" . "For the calendar year 2012, 140,124 units were absorbed."

So, you were right! a LOT of new apartments...not just a few new ones.

Where are the people coming from...out of state? didn't know we had this many people to fill these places!

Here is where I think they are coming:

1. Displaced (foreclosed on) home owners who lost their homes in the economic down turn.

2. Baby Boomers that don't want to worry about taking care of property and don't want a condo fee on top of a new mortgage.

3. People transferring - loose one job..have to find another..somewhere.

4. Graduates not ready to buy a home.

5. Seniors who are single and not ready for assisted living.

6. Younger generation with great "toys" but no money saved.

I'm sure you can think of a few, as well. Here is my thoughts about it though...This trend started the same time as the economy tanked. What's going to happy if /when the economy takes a turn?
I think housing will see a boom. And , to meet the needs of the boom...a lot of those apartments will do what they started doing in the 1990's...turn into Condos . Seems like history repeating itself. What do you think?

Getting your house in order - Part II

Getting your house in order for what ever reason..
               season changes,
                    selling ,
                       or just want to feel better about where you live-

isn't easy. CHAOS (Can't Have Any One Over Syndrome) is especially true for anyone who works out side the home and especially true for those who don't. One is not enough time, the other is not seeing what others see- becoming oblivious to the clutter and dirt.

Lists can help. Honestly. They are how I survive. It's one thing to have it "in your mind" to do; it's another to see it on paper and be able to cross it off.

Here is the FLYLADY's List. I think it's excellent because it reminds you to care for yourself and your family in the middle of your CHAOS.

"1. Make a list of what needs to be done.

2. Look at the list and prioritize, don't just up to do it yet.

3. Drink some water, tea or your favorite beverage.

4. Spend this 15 minutes calming yourself. Breathing deep and slowly thinking about the next hour and what you can get done.

5. Love on your babies.


6. Kiss your husband.

Then go back to work with a renewed spirit.

No more turning in circles, not knowing what to do next. You have a plan. You can do this, if you will just think slowly and calmly, write a few things down and then you won't feel so stressed. Being stressed about this is not going to help. In fact it will make things worse.

Now set a timer for 15 minutes and take a break.

You are Really FLYing when you can do this! "
FlyLady

Getting your house in order


"Are YOU living in CHAOS (Can't Have Anyone Over Syndrome) like Franny in the pink sweats? Do you feel overwhelmed, overextended, and overdrawn? Hopeless and you don't know where to start? Don't worry friend, we've been there, too.


Step through the door and follow FlyLady as she weaves her way through housecleaning and organizing tips with homespun humor, daily musings about life and love, the Sidetracked Home Executives (SHE) system, and anything else that is on her mind."-Flylady.com


For anyone who has known me for any length of time, cleaning and ridding myself of clutter is something I strive to do but am not always successful.  Perhaps clutter  I have many projects going in many different directions and I WILL finish them. Sometime.  I found FLYLADY years ago and she has helped me a lot.  That sentence that says "Hopeless and you don't know where to start" speaks to me.  So, I'm going to borrow from her the things that has helped me the most in the hopes that, if you are like me, then perhaps you will become a fan and make your  life a little easier at the same time. Because I truly am a Sidetracked Home Executive .  Picking up a few tricks will help you now and in the future .  For guests, for family, and for me should you ever decide to sell.


Today I am including one of the BIGGEST helps for me.  DECLUTTERING!!  HUGE help.  Hope you will think so, too.  


Put your home on a diet. If this is difficult for you, try reading one of my favorite books, "Clear Your Clutter with Feng Shui" by Karen Kingston.
  1. When to Declutter: Decide how often you are going to declutter a zone. Do a little every day - use a timer. But be warned - this can become compulsive! Once you get started you will want to clean like a banshee! Don't burn yourself out! Only do small amount at a time. The house did not get dirty overnight and it will not get clean overnight. When you set the timer you can only do two sessions at a time. This goal may seem unattainable right now, but you can do it in little pieces. In a couple of months, the whole house will be decluttered.
  2. Decluttering Equipment: You will need garbage bags, boxes, magic markers, and a dust rag. Label the boxes "Give Away", "Throw Away", and "Put Away". Line the "Throw Away" box with a plastic garbage bag.
  3. Set your timer: for 1 hour (or 30, 15, or 10 minutes - it does't matter how long). Just do the job as fast as you can and do not pull out more stuff than you can put away in that length of time. This means just one drawer, one closet (or even one shelf in one closet), one magazine rack, or digging under just the furniture in the zone. Not all of them at once!
  4. Start at the entrance to the room: Then, work your way around the room clockwise. Do not skip a spot. Whatever happens to be next, just do it.
  5. Declutter Away! With boxes at your feet and dust rag in your waistband, start off by cleaning out and getting rid of the things that do not belong in this room. Put garbage in the "Throw Away" box, donations in the "Give Away" box, and stuff that goes somewhere else in the "Put Away" box. Don't worry that you do not have a place for everything right now. By the time you finish you will. That's a promise from FlyLady!
  6. What to declutter? Things to ask yourself as you get rid of your clutter:
    • Do I love this item?
    • Have I used it in the past year?
    • Is it really garbage?
    • Do I have another one that is better?
    • Should I really keep two?
    • Does it have sentimental value that causes me to love it?
    • Or does it give me guilt and make me sad when I see the item?

    Cleanse this room of everything that does not make you SMILE.
  7. Sing this song: "Please release me, let me go" as sung from the stuff's point of view. It needs to be loved by someone and if you don't love it - GET RID OF IT!
  8. Get rid of the garbage! When the "Throw Away" box gets full, pull out the garbage bag, close it, and put it in the trash can, the pickup truck, or wherever you keep your garbage. Put a new garbage bag in the "Throw Away" box and keep on Flying until the timer goes off.
  9. Donations: When the "Give Away" box gets full, seal it off, and put it in your car. The next time you are out, you can donate to the area thrift shop. Do not save your clutter for a yard or garage sale, you will be blessed by giving it away. The value can be deducted on your income tax. Remember you are trying to get rid of clutter - not relocate it somewhere else in your home. Now, grab another box, label it "Give Away", and get back to work.
  10. "Put Away" Stuff: When the "Put Away" box gets full, take the box in your arms and run around the house (good thing you have shoes on - right?) and put the items in the room where they belong. If they have a place, put them there, if not put them in the room where they logically belong. By the time you have finished you will have a place for everything and everything will be in it's place.
  11. Timer Goes Off: When the timer goes off, you have to put away all the boxes, but first you have to empty them all. Go as fast as you can. 
FLYLADY.com

Why should you consider purchasing a home?


Do your upstairs neighbors stomp on your ceiling? Do the meatballs they're cooking next door fill your apartment with the smell of searing meat? Perhaps you long to sit quietly in your own backyard after a long day. Buying a home is a big step, but maybe you're closer than you think.


For the vast majority of us, owning a home is part of the American Dream. According to a study conducted by the NATIONAL ASSOCIATION OF REALTORS, 87 percent of those polled cited owning a home as the number one criterion for defining "the good life."


Owners and renters alike considered homeownership desirable for the following reasons: the pride of ownership, their dislike of paying rent, and the ability to change features of their homes to match their individual tastes and needs.


Like Mom and apple pie, owning your own home provides a sense of security and well-being that's hard to beat. Home is where we raise our families, have friends over for summer barbecues, paint the baby's room pink or blue, and find refuge from the outside world.


In addition to these intrinsic benefits, owning a home offers other advantages as well. For instance, as a homeowner, you have control over your environment. Not only can you change your home to meet your needs, but you also aren't subject to the terms of a lease or a landlord. As a homeowner, you can experience the emotional and financial security that comes from knowing what your housing expenses will be from year-to-year. Unlike rents, which can increase annually, most mortgages have fixed or capped monthly payments. So, as a homeowner, you can have a much better idea of what proportion of your paycheck goes toward your home. Think of it as the ultimate savings plan--it sure beats a passbook.


Bottom-Line Benefits
And it only gets better. Homeownership is the primary component in the creation of wealth for many Americans. (Data from Harvard University's Joint Center of Housing Studies illustrate not only that the median net wealth of homeowners is 34 times greater than that of renters, but also that over half of that wealth is generated from home equity.) As you pay down your loan amount each month, you accumulate equity, a growing ownership interest in your property. If you need funds, you can borrow against this equity in the form of a home equity loan. Further, interest on a portion of home equity is tax deductible.


Remember, most homes appreciate in value over time and can be a source of income for you, especially if you've lived in your house for many years. When you retire, you can sell your home if you need the funds or make use of a home equity conversion mortgage. This type of mortgage allows you to continue to live in your home and receive a monthly check at the same time. In essence you are able to tap into the accumulated home equity and receive a monthly sum which reflects the amount of that equity and the number of years you wish to receive that payment. In return for providing you with the payments, the lender receives an ownership interest in the home. These mortgages sometimes are called reverse annuity mortgages. Ask your lender about them.


Finally, don't forget about the significant tax advantages of owning your home. Interest on a home mortgage and property taxes are deductible. For most of us, mortgage interest provides the largest tax deduction. Also, a home is the single most important factor that determines whether you will be able to file a return which takes advantage of the wide range of allowable itemized deductions.


-article from the OAR

Ohio home sales decline 2.6% in the first 2 months of 2011


Trying to sell and things not going as planned?  Don't give up but also be aware of what the stats say... 


Ohio home sales  through the first two months of 2011 reached 10,854, a 2.6% decline from the 11,147 sales posted during the same period a year ago. The average sales price (January through February) this year is $116,871, a 3.1% decrease from the $120,590 mark set during the period a year ago.


Total dollar volume this year tops $1.26 billion, a 5.6% decrease from the two month mark a year ago of $1.3 billion.
Sales in February 2011 reached 5,524, a 5.4% decline from the 5,839 sales posted during the month a year ago. The month's average sale price of $118,037 was a negligible 1.6% below the $119,994 mark of February 2010. The total dollar volume in February 2011 topped $652 million, a 6.9% decline from the $700 million posted a year ago.


NAR is reporting that existing-home sales in the U.S., dropped 9.6% to a seasonally adjusted annual rate of 4.88 million in February from an upwardly revised 5.40 million in January and are 2.8 percent below the 5.02 million pace in February 2010. The national median existing-home price for all housing types was $156,100 in February, 5.2% below February 2010.


An NAR practitioner survey shows first-time buyers purchased 34% of homes in February, up from 29% in January; they were 42% in February 2010.


Taken from the Ohio Association of Realtors-2011 


So, what does this mean to Home Sellers?  


It means being the best quality at the best price.  Just the same as it has been for the past year.  The competition is still high and the market favors Buyers right now. Use that information to plan your strategy.  Set your house apart from the others.  Make it stand out.  It will make a difference.

Items to take to your Lender when you apply for a loan:


What Your Lender Needs From You
It's the million dollar question: How much do you need to borrow?

Regardless of the amount of your mortgage, expect to be asked that very question – plus a whole lot more.
So, it's best to be prepared. Know what your lender will ask and bring necessary documents with you to your appointment. Use our mortgage loan checklist as a reference for compiling the information and documents your lender will undoubtedly ask for.


Mortgage Loan Checklist
  1. Amount of money you want to borrow
  2. The length of the loan
  3. Current address (If you've been at your present address less than two years, you'll also need to provide your previous address.)
  4. Social Security Number
  5. Employer's name and address (If you've been at your present job less than two years, you'll need to provide your former employer's address as well.)
  6. Gross monthly income
  7. All bank account numbers and their approximate balances
  8. Your assets (real estate, personal property, paid-up life insurance, etc.)
  9. A complete list of debts (include account numbers)
  10. A copy of the purchase agreement for your new home
  11. A written account of any problems that may concern your loan application, such as explanation of bankruptcy, late payments, etc

Once you've begun the application process, you can expect your lender to:
  1. Verify the facts of your application
  2. Obtain a credit report
  3. Make a property appraisal
  4. Review all the details of your loan application
  5. Make a determination on your loan

Qualifying...a little more information



It's kind of ironic, but house hunting usually begins in your own living room! That's because the best house-hunting strategies start with careful planning. So, long before you start pouring over online listings and hitting the neighborhoods with your Real Living agent, first decide your price range.
Knowing your housing budget upfront will quickly bring your efforts into focus.
How much you can (and want) to spend depends upon two things:
  1. What you want or need your monthly payment to be.
  2. How much you're willing or able to put toward a down payment.

Remember that your monthly mortgage payment will include the principal and interest on the loan as well as property taxes and insurance (both fire and hazard). These four costs are abbreviated P.I.T.I. (for principal, interest, taxes and insurance). And, depending on which home you buy, your monthly cost could also include homeowner association dues, condominium fees and Private Mortgage Insurance (PMI).


Qualifying
As part of the planning process, find out how much you can comfortably afford by getting pre-qualified. Keep in mind that although there are a number of loan types available, you still need to work toward finding a monthly payment that makes sense for you. As a general rule, expect your monthly mortgage to be no more than 25 to 33 percent of your gross monthly income. Use our quick and easy lending formula to figure your housing budget.


Credit Scoring
In deciding how much house you can afford, consider getting your credit score as early in the home-buying process as possible. Your credit score helps your lender determine the type and size of your mortgage loan; so knowing your score can save you loads of time and maybe even a little disappointment.
Your credit score is a numerical measurement of your credit report and reflects your overall management of credit. Using information compiled by credit bureaus, your credit score is based on several factors including:
  • Your payment history
  • The amount of credit you have
  • Information reported monthly by your creditors
  • Any serious problems in the past with debts, such as liens, bankruptcies, collections and judgments.

Your final score is used by lenders to help determine the likelihood that you'll repay your loan on a timely basis. Credit scores typically fall in a numerical range, from 300 to 900. Generally, the higher the score, the lower the risk you are for the lender.

Keep in mind that credit scoring is only one factor considered by a lender. You can expect a careful analysis of all the information collected from you during the loan process.

By the way, even if you're already pre-qualified, you can benefit from knowing your credit score. While pre-qualification measures your debt and income ratios to predict your qualifying loan amount, your credit score provides a clear indication of your credit standing – a major factor during the final loan approval process.

-Taken from the Real Living Mortgage sight.

THINKING ABOUT BUYING A HOME?


Figuring Your Housing Budget
*Have you ever shopped for clothes, furniture or gifts without a budget and later found that you'd overspent? It's easy to do especially when looking at so many great houses with your agent. Obviously, staying on budget is very important when house hunting.

That's why you'd probably like to have a ballpark idea of how much house you can afford - before you start looking and even before meeting with your mortgage broker or lender.

To get a rough estimate of how much you'll qualify for, do what the lenders do – plug your budget numbers into a basic mortgage calculation formula.

Lender Formulas

Lenders typically use one of two formula guidelines; although most will require that you meet both sets of guidelines. Even if you don't meet the guidelines, talk with your chosen home mortgage consultant. S/he can provide additional details specific to your situation, and since there are other formulas that exist, you may qualify under another standard. 

For example, VA loans are calculated on a single ratio that's based upon mortgage payment and all debts. If you have very little debt, this formula may allow you to qualify more easily for a more expensive home.
Of the two usual formulas, the first compares income-to-housing costs (without including long-term debts), while the second includes all debts.

28 Percent Formula: Total monthly housing costs (P.I.T.I.) = 28 percent (or less) of gross monthly income.
36 Percent Formula: P.I.T.I. + all monthly debts = 36 percent (or less) of gross monthly Income.

So, if you're a family with a monthly gross income (before taxes) of $3,500, you would multiply $3,500 by 28 and 36 percent. The result shows that you might qualify for a home mortgage with monthly payments between $980 and $1,260 a month.

Note that these percentages may be slightly less if you have long-term debts (more than eight months) or alimony/child support payments. The number and ages of your children as well as household budget items may also have an impact.

Now that you have a better idea of what your approximate housing budget may be, learn more about:



Type: Conventional


Characteristics: Can be obtained with as little as 5 percent down payment. If the down payment is less than 20 percent, it may be necessary for the loan to have Private Mortgage Insurance (PMI) to protect the lender.
Term: Paid off in equal monthly payments over 15, 25 or 30 years.
Interest Rate: Stays the same for the life of the loan.



Type: FHA

Characteristics: Insures loans, making lenders willing to finance home purchases on favorable terms. Down payments as low as 3 percent. Discount points may be paid by either seller or buyer. 


Term: Varies by lender; however, the FHA charges an up-front Mortgage Insurance Premium, similar to Private Mortgage Insurance that can be financed in the mortgage amount or paid in cash at settlement. The borrower must also pay an annual Mortgage Insurance Premium(MIP) of 0.50 percent, which is collected monthly.
Interest Rate: Varies by lender.
Stays the same for the life of the loan.


Type: VA

Characteristics: Available to qualified veterans of the Armed Services, Reserves and National Guard. Loans can exceed $200,000 with no down payment. Flexible underwriting guidelines. Closing costs may be a gift. Can be combined with second mortgages and are assumable (upon qualifying) by future buyer.


Term: Payment fixed for the full term.
Interest Rate: Varies by lender but. 
Stays the same for the life of the loan.


Type: Renovation Financing

Characteristics: Provides buyers money to fix up, renovate, repair, replace or remodel a home with the purchase. We loan on the "after improved value" and can do a loan on a home in ANY condition. We can combine this type of financing with FHA or Conventional financing. Available for singles, doubles, triples or quads.

When you're ready to think about buying your new home, make sure you explore these primary loan options and the dozens of others available. The best lending partners will be able to find the right one for your needs.

 

*Taken directly from the Real Living Mortgage web site. so, if you have any questions about what you are reading, ask me and I will get you the answers or call Mark or Joel directly:  Mark Cooper  at 614-273-6342 or Joel Ghitman at 614-418-7317

To decorate when your house is for sale ...or not to decorate...what is the answer?


Add Some Holiday Charm  

Who said all the holiday decorations have to go when you're trying to sell a house? Bring some holiday cheer to your listings this season

Nobody wants to be the Grinch who stole Christmas but when you’re trying to sell a home, too much holiday spirit can turnoff some potential buyers. Buyers are there to look at the house and all of its wonderful features, not tippy-toe over the giant blow-up Santa impeding the front door or squint to see the roof over the nine reindeer poised upon it.

But before you stick a needle in your inflatable Santa, some real estate and staging professionals say home owners can still add a few decorations for the holidays when selling a home and don’t assume buyers won’t appreciate it too. Holiday decor can lighten moods and warm up interiors, so you don’t have to swear it off completely because you’re afraid of offending those who don’t celebrate, they say.

Betty Cunningham with CB Residential Brokerage in Schaumburg, Ill., says showing homes in the Midwest during the winter can be challenging enough, so to spice things up during the winter months she encourages her clients to decorate for the holidays. She’ll even provide guidance on how.

“Isn’t it nice to open the front door and see lights and the Christmas music playing with some cinnamon smells welcoming you? It just says ‘welcome, come in and stay awhile,’” Cunningham says.


6 Principles to Holiday Staging

The key to holiday decorating is to keep the decor high quality and color-coordinated, says June Lizotte with June Lizotte Real Estate in Milwaukie, Ore.

If you plan on staging a home for the holidays, here are some important things to keep in mind.

1. Don’t overdo the holiday cheer.

When Santas start to outnumber the rooms in the house, you may want to start being more selective in what you display.

“If it is ‘cute,’ it stays packed,” says Joanne O’Donnell, president and CEO of Chic Home Interiors, who offers holiday staging services. “Cute is not a universal concept and the surest way to avoid trouble is to keep it simple and elegant.”

The same staging principles apply during the holidays: Don’t overwhelm the space with clutter.

“For every holiday decor item put on display, temporarily pack something you keep out all the time. That way you can avoid over-decorating,” says staging and real estate pro Tori Lynn Wallitsch with Alliance Real Estateand Ross Designs LLC in Omaha, Neb.

Instead of a large Christmas tree dominating the living room, you might opt to have a smaller tree display on a table top -- particularly if the space is small, suggests Lizotte. Your decor doesn’t have to be super-sized or scattered everywhere: Mix in small centerpieces on dining room tables, bookcases, bathroom sinks or end tables -- simple touches such as pine cones or ornaments in a glass bowl.

You also might want to have home owners rethink hanging those Christmas stockings from the fireplace too.

“Whatever the season, when you are selling a home, you want buyers to notice and appreciate the permanent features of the home and if your fireplace is almost impossible to see because your highly personalized stockings are blocking the view, then buyers will not appreciate this focal point for what it is,” Wallitsch says. Instead, ask your sellers to hang the stockings on Christmas eve and remove them Christmas day.

2. Add splashes of holiday colors.

How about some holiday red? Psychology research on color responses has shown that warm colors, such as red, can increase excitement and energy in those viewing it. Pops of seasonal colors -- such as red or green -- add festive cheer to a home too and can be as simple as just adding a red everyday throw to the sofa or adding poinsettias throughout the home.

It doesn’t have to be bold holiday statements: Add greenery to fireplace mantels or as a base for the dining room table centerpieces, O’Donnell says. Or another holiday favorite: Bows and ribbons can add splashes of color -- tie them around candles, wreaths, and basket handles throughout the house for extra pops of color. Don’t underestimate the power of neutral palettes too in your holiday decor, such as silvers and classic whites.

Try repeating colors from room to room and using similar ribbons, ornaments, patterns or decorative items that can add to the consistency of your holiday look, according to holiday decorating tips byWorldofChristmas.net.

But when bringing in holiday colors, be careful not to clash with your home’s current color scheme, O’Donnell says. For example, if turquoise is the room’s dominant color, you might want to hold off on adding bold holiday reds; try silver instead.

3. Stage for the senses.

Get buyers in the mood with some holiday music and the smell of Christmas filling the home. Christmas music -- mixed with holiday scents -- has been shown to boost people’s attitudes in retail stores and increase their likelihood of wanting to visit them, according to research conducted in 2005 by Eric R. Spangenberg, Blanca Grohmann and David E. Sprott Journal of Business Research (Vol. 58, Issue 11).

Cunningham usually gives a holiday CD to her clients to use for showings -- it features mostly instrumental and soft holiday music.

For scents, O’Donnell recommends adding a pot of mulling spices or cider. The Smell of Christmas by Aromatique (candles, potpourri or oil) is a favorite of Cunningham’s or candles that smell like pine or fresh-baked cookies can create holiday season scents too, adds Valerie Torelli with Torelli Realty in Costa Mesa, Ca.

But if you’re going to include a holiday scent just don’t forget the music. The 2005 study showed that the presence of Christmas scent (Enchanted Christmas by Greenleaf in this case) with non-christmas music lowered buyers’ perceptions of the store and its merchandise. But when the Enchanted Christmas scent filled the air with Amy Grant’s “Home for Christmas” music playing in the background, participants had a favorable response and were more eager to buy.

4. Keep the tree simple, yet elegant.

The Christmas tree will likely be your biggest decor piece so it needs to make a statement. Use a string of 100 lights for every foot of tree, suggests Cunningham. In other words, if you have a 7-foot tree, use at least 700 lights (she prefers the white twinkling ones).

Other tips:
  • If your tree is larger than six feet, consider removing a piece or two of furniture so the space doesn’t feel crowded, Wallitsch says.
  • Use ornaments all in one basic color palette with “show piece” ornaments mixed in that add extra style, O’Donnell says. As a general rule of thumb, use about 20 filler ornaments (such as one or two tone bulb ornaments) for every two feet of Christmas tree and then mix in those special “show piece” ornaments between the filler ornaments, using about 10 for every two feet of tree, according to interior design writer Coral Nafie who wrote about holiday decorating tips at About.com.
  • Hang ornaments on the tips of branches as well as inside the tree to add depth, and mix in various size of ornaments.
  • Make sure ornaments that are overly personal -- such as those marking milestones like “Our First Christmas” or “Baby’s First Christmas” -- are not in prominent locations on the tree or keep them packed up for next year, Wallitsch suggests.

5. Give a holiday impression from the curb.

You needn’t be able to view your outdoor holiday lights from space, Clark Griswold, to show your holiday spirit. Twinkling clear, white lights (preferably non-blinking) tend to be the favorite among staging and real estate professionals for classy holiday curb appeal that adds a glow to your listings at night.

“The winter months are usually less than attractive outdoors and some well-placed and tasteful holiday lights or yard ornaments can go a long way to adding a festive and welcoming touch,” Wallitsch says. “Just remember that many potential buyers may either cruise by your home for sale during the day or schedule a showing during the day when outdoor lights are more likely to be an unsightly bunch of wires (such as icicle lights) rather than a cheerful display of color or white lights. Do your best to make your home show its best during the day and night.”

Here some holiday curb appeal tips:
  • Add poinsettias: Plant several poinsettias in groups of three or five close together in the garden. “They really set off the first impression,” says Torelli.
  • Hang a wreath on the front door (and make sure it’s clean!), suggests Cunningham.
  • Have battery-operated candle lamps in each of the windows for extra glow and to show off all of those windows at night.
  • Make the deck sparkle. For example, a weather-proof, tip-proof tree with lights or a simple strings of lights along the deck’s railing can go a long way in adding charm to your showings after dark, says Judy Jensen,Edina Realty in Eagan, Minn.

Then, consider adding the holidays to your marketing: Take a photo of the home at night as it twinkles from the holiday lights and create a special holiday flyer with information about the house.

“This is a great marketing tool we often use in the months of November and December to help sell the home,” adds Torelli with Torelli Realty in Costa Mesa, Calif.

6. Remove decor after the holidays.

Jolenta Averill, broker-owner of Lake & City Homes in Madison, Wis., once showed a home in the middle of summer that still had a huge Santa Claus on its front porch and a Christmas tree lit in the living room.

But Christmas in July isn’t for everyone, so in general, wait to decorate for the holidays until after Thanksgiving and be sure your home owners remove all holiday decor promptly by New Year’s.

As Wallitsch tells her clients: “If you are feeling a little cheated this holiday season by not putting all of your beloved holiday treasures around your house, focus on the reason that you placed your home on the market and keep your eyes on that goal. Next year when you are comfortably settled into your new home, you can go all out with the holiday cheer.”


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