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Baby It’s Cold Outside! Don’t Forget To Prep Your House!
Well it is officially freezing outside! Remember there are a couple really important to do's for any home owner to make sure your house is ready for winter.
Service Your Heater
It usually costs between $80-$150 to get your heater serviced before temperatures drastically drop. This will keep your furnace efficient keeping your heating bills as low as possible & check carbon monoxie levels.
Check Your Roof
Hop up there (or hire someone) take a quick look to see if there are any strongly damaged shingles. If you fix it proactively before the winter storms come in you will save your self a big headache when you realize your roof is leaking! Remember to check the flashing around your chimeny to verify it is sealed correctly. Be proactive!
Check The Gaps
Between your windows and doors. If the gap is bigger then the width of a nickle you should caulk over them to keep your heat in, the heat bill down and the cold out.
Clean Your Gutters
Fall is almost over, leaves have fallen! Make sure to clean your gutters or get them cleaned so water doesn't sit in them. The wet leaves will keep moisture close to your home giving rot a perfect envoirnment to take off, it will also weigh the gutters down causing them pull away from your house causing them to fail and fall. Remember to divert the run off water AWAY from your house so your not allowing the gutters to pour all the water it collects by your foundation. That opens up room fo lots of issues!
Turn Off Exterior Faucets
Water freezes! Any water sitting in your exterior faucets/hoses will freeze. When water freezes it expands and your pipes can crack and burst! Disconnect your hoses and drain any left over water in the in the faucets. You can also drain your lawn irrigation systems if you are in an area that has heavy freezing weather.
Test Your Sump Pump
It's important to test it every few months but especially after a long dry season like we are coming out of. It would be better to know it isn't working properly before you actually need it. Pour a few gallons of water in there and wait for it to kick on.
Test Your Generator
Another item you want to make sure is working properly before you need it. Plug it in and fire it up! Sock Up On winter essentials. Have all items ready to go and accessable. Make sure you have plenty of water, canned food and extra batteries stored in case of any big winter storms.
Stay Warm and Happy Holidays!
– Aimee Slesk
AimeeS@windermere.com
Tips For A Successful Closing
Hello Buyers and Sellers! Here are a couple short and sweet tips on having a smooth closing:
- Avoid "shifting" your money from bank accounts, credit cards etc, keep everything as is
- Maintain your current employment/income source, don't change jobs
- Respond quickly to all requests for information
- Keep residence, marital status, business ownership, etc. stable
- Do not obtain new debt – maintain your credit record and defer any major purchases aka don't go buy a new truck until AFTER you close on your house!
- Funds to close must come from the same verified accounts provided at time of applications, you can't have a last minute gift fund if you spend your savings so…. be careful what you spend!
I hope this helps you during your real estate transactions! Contact me if you have any questions, I'm here to help!
Have a great week!
-Aimee Slesk
How Lower Mortgage Insurance Effects YOU!
I have had quite a few questions lately on how the changes made in January to lower mortgage insurance actually effect your buying power (the amount you are approved for through a bank to purchase a home).
Example: In January if you were pre approved for $205,000 and have done nothing to improve/lower your credit score, your buying power is now $220,000. That is a $15,000 difference, and you didn't have to do anything. Pretty Aweome! If you have been house shopping online via redfin, zillow, or windermere, you know that $15,000 makes a substantial difference in the houses you are looking at.
Please contact me if you have any questions or would like to know more about the hows/whys and see how your buying power has changed since January. I am happy to help!
Cheers!
Why It Will Be Easier To Buy A Home In 2015
Happy New Year!
Home buyers get ready for some exciting news if you are thinking about purchasing a home this year!
1. Less Strict Credit Requirements: Since the housing market crashed a little while back, lenders have been extremely cautious in their qualifying buyers for a mortgage loan. They are now relaxing their credit requirements making it much easier to qualify for a home loan. Government programs are projecting an increase by about 1.2 million home loans given this year, exciting news for all you home buyers out there!
2. Even Lower Down Payments: Home buyers should be excited about both Freddie Mac and Fanny Mae's decision to lower the required down payment! They are lowering the required down payment to 3 percent! In 2014 they were 3.5 percent. This is an amazing down payment compared to numerous loan programs that require 10-20 percent down payment.
In addition to your monthly mortgage payment, most first time buyers are also required to purchase mortgage insurance. Some programs allow you to pay a few thousand dollars upfront but if you are unable to afford that, they will add it to your monthly mortgage payment. This can be a few hundred dollars a month! With the increased amount of mortgage insurance required for low and middle class buyers, it has become more difficult to afford a mortgage AND the additional couple hundred dollars of insurance a month. The now lower down payment requirements will help cushion the also required monthly mortgage insurance making it easier for buyers to purchase a home.
This coupled with the fact that credit score standards are allowing more wiggle room will help many more first time home buyers break into home ownership this year.
3. Rates Are Still Historically Low: It was projected by experts that by the end of 2014 the average rate would top around 5 percent. As of last week (years end), average rates on a 30 year fixed mortgage didn't even top 4 percent. According to Freddie Mac, they averaged 3.89 percent, an 18 month low! Before the end of 2015 they could eventually get up or pass the 5 percent mark but that is still historically a very low rate.
If you are a first, fifth, or tenth time home buyer and have questions, please contact me AimeeS@windermere.com . I would be happy to help answer any questions you have and get you started on your home buying process!
