Real Estate Information

If you paid less than a 20% down payment, you are required to have Mortgage Insurance with FHA and USDA loans, while Private Mortgage Insurance is required with other lenders. In some cases,, these can be removed, and your mortgage payment will reflect the change. 
 

An Adjustable Rate Mortgage (ARM) has a set interest rate for a certain amount of time, and after that time is up, the interest rate will vary. When the rates change, your payments will, too. Learn more about ARMs from Investopedia. 
 

Changes in escrow are almost unavoidable. What is escrow? The Consumer Financial Protection Bureau’s definition: “An escrow account...is set up by your mortgage lender to pay certain property-related expenses.”  When property taxes or insurance premiums increase, your current payments won’t reflect that change, and that results in an escrow shortage. The shorted amount will be added to your loan payment, plus the new amount for adjusted increases. To avoid paying extra every month for the shortage, pay the amount in full as soon as you receive your annual escrow statement. 
 

What if you don’t have an escrow account on your mortgage, and you don’t pay your property taxes?  Lenders don’t want to foreclose on a home because of delinquent property taxes. To protect their money, they can add the amount to your current loan payment or open an escrow account for your loan. 
 

Homeowners insurance is a requirement when you have a loan on the home. If yours lapses, or you don’t have enough insurance on the house, lenders have the right to purchase a policy, called “forced-place insurance.” They will send you the bill for the premium, which is probably more expensive than your current payment.  

- You know what you want in a new home because you know what kind of lifestyle your family lives.  A buyer agent will listen and learn about your needs, wants and don’t-wants, take that information, and you don’t have to do another thing but wait for them to find prospects for you to see! How easy is that?! 
 

- Hiring a buyer agent opens a whole world of real estate options of which you are likely unaware. REALTORS® not only have a network of other agents, but the tools and expertise that can connect you with the right house sooner than you can find on your own. 
 

- The experts a real estate agent has at the click of a mouse or tap on their smartphone will all work together to ensure your home-buying process goes smoothly! Real estate attorneys, tax experts, and inspectors are just a few of the people you may need during the home-buying process. 
 

- If problems arise, your buyer agent isn’t always a miracle worker, but they will use all their means to see that the issue is resolved.  They want your transaction to go as smoothly as you do. 
 

- In most cases, you will owe a buyer agent nothing when you buy your house. Fees are normally paid by the seller, so you’re getting an exclusive, personalized service free! 

- Plant native plants in your landscape! Because they are adapted to your climate, you won’t be watering them as much, and many are naturally pest resistant.  Native landscaping will also encourage wildlife to visit! 
 

- Speaking of plants, a “living wall” can cut down on cooling costs in Summer, while helping insulate the colder side of the house in Winter.  Even a wall of ivy can make a difference. Learn more about vertical gardens from FresHome. 
 

- Refurbishing or remodeling a room? Add color with low-VOC paints, or use natural wood stains and sealers. Check out local thrift stores or Habitat for Humanity ReStores for pre-owned light fixtures and many other items.  Reclaimed wood can be used for flooring or furniture projects, too.
 

- You don’t have to start biking to work in order to cut back on emissions or save money. Keep your vehicle serviced, and make sure you inflate your tires to the correct pressure. Making body modifications on your vehicle, such as removing that rarely used luggage rack, are other ways you can save gas. 
 

- In the kitchen, using a large toaster oven instead of your oven can save energy as well as keeping cooler in the Summer months. Slow cookers and pressure cookers are other appliances that conserve.  Other energy-saving cooking tips can be found at energy.gov.
 

- According to the WaterHeaterHub website, you can save as much as 25% on the energy used to keep your water hot by installing a timer.  If your conventional water heater is past its prime, switching over to a tankless or solar water heater may be your best option. 

- Smart thermostats are the perfect way to get your feet wet for advanced technology in your home.  They control your heat and air more efficiently by using presence sensors, and can save 10-15% on your power bill. Nest has two versions available, and prices vary $179-$250. Check with your power company to see if they offer a rebate on your new smart thermostat purchase. 
 

- Keyless entry isn’t just for your car anymore.  Smart locks are available for your entryways with mobile and desktop apps, so you can control them, and using fingerprint and voice recognition for opening doors.  Prices vary greatly, and the choices are numerous. PCMag has made a list of the best smart locks of 2017 that can help you comparison shop. 
 

- Home security systems have been around for eons, and the older brands have someone monitoring your system for you, and you pay a subscription fee.  Today there are DIY security kits that will connect to your home smart system, and will alert your mobile phone app if there is a breach, but it’s your responsibility to contact authorities.  
 

- Sometimes a simple security camera can give you peace of mind, and cameras are now available with motion and heat sensors so that they only turn on when you have chosen those sensor settings.  These cameras have WIFI connectability, and you can use your PC or laptop to check the daily camera video. 
 

- If you don’t care for a whole-house lighting control system, there are smart light bulbs controllable via Bluetooth, but that means they cannot be controlled from outside the home, or if you’re out of range.  These bulbs can cost $50, but will last for twenty years. 
 

- Home voice-activated assistants are becoming more popular, as well as less expensive. Apple’s Siri, Google Home, and Amazon’s Echo all have different features, but perform the same way by with voice activation. Get advice from friends and the internet before you decide which assistant is right for you and your family. 
 

- Water leak and mold sensors are a very important gadget to add to your smart system.  They sense water leaks, and humidity and temperature changes in your home and can save you a bundle on water or mold damage repair. 
 

- No more checking smoke alarm batteries every six months--smart smoke alarms are hardwired, have built in carbon monoxide detectors, and can be controlled from your mobile phone.  Some detectors even have sensibility settings, so they know the difference in a lot of smoke and your bacon getting a bit too done. 
 

- Turn practically anything into a smart object with a smart plug. Once it’s plugged in to the object and connected to WIFI, you can control that object with your phone, or a home assistant.  
 

- Cabinets are on prominent display in your kitchen, and should look great.  Clean them up and give them a coat of primer and paint.  White, as well as neutrals like grey or taupe, gives a clean look and brightens up the space, and all work well with pops of color around the kitchen. Darker colors work best in large kitchens, and bright colors can be the star against neutral wall colors and decor. Click here for more cabinet painting tips from HGTV. 

- Refurbish with new cabinet doors.  This can be a little more expensive, but not as costly as replacing all of the cabinetry. You can even ditch the doors and use open shelving for a modern, clean feel. 

- Change out the hardware on drawers and cabinets.  Have an idea of what you want before you go to a home store to purchase the pieces, because there are so many choices available.  Classic styles are best if you plan on putting your home on the market. 

- Not only would it protect walls from liquids and grease, but adding a tile backsplash gives a whole new look to your kitchen. Thanks to advances made in peel-and-stick technology, double adhesive mats are strong enough for tile, and you can do this yourself with very little tile installation knowledge. This video from Ask This Old House shows step-by-step how to use this improved material and save time and money while updating your kitchen. 

- Give your sink a makeover simply by replacing the faucet and the handles. 

- Countertops dated and unattractive? Replacing them doesn’t have to be a big expense; some laminates look like the real thing and cost much less.  Styles include look-alike marble and faux granite.   

- Add a dash of style to cabinets with glass doors by papering the inside of the cabinet. Con-Tact© paper or any self-adhesive shelf liner is perfect for this small project.  Amazon carries many designs to choose from.  

- Installing a new light fixture can make a big difference in your kitchen, and doesn’t have to break the bank.  Look in thrift stores, consignment shops, or yard sales, and give an old fixture a facelift with some spray paint! If you’re unsure about installation, call an electrician or handy person to change the old to the new. 

- Use mirrors to fool the eye, because they reflect light and images. Hang one larger mirror on the main wall, several small ones, (gallery style), or even an oversized mirror leaned against the wall.   

- Painting walls a light color automatically opens up the space to the eye, because it reflects light.  Going all one color is a great way to make the room appear larger, too. 

- Get rid of clutter.  The more you have sitting around--mail, books, work, kids’ school things--the fuller your space looks.  Baskets, files or paper organizing gadgets, decorative storage containers, or furniture pieces that double as storage are the best way to hide necessary things.  Get rid of, (in other words, throw away or recycle), junk mail and unnecessary paper as soon as you look at it. 

- Draw an imaginary diagonal line across your room and place your furniture at an angle.  You even get a bonus storage area behind anything that covers a corner! 

- Pieces that are the same color as the walls blend in, making the room appear larger. 

- Either skip window coverings, or use sheer drapery or curtains and blinds that are the same color as your walls.  If you have to use drapes, hang them either at ceiling height, or just inside the window so the framework is visible. 

- If you want bookshelves, consider a wall-to-wall, floor-to-ceiling unit.  Draw the eyes horizontally and vertically. 

- Speaking of bookshelves, the less you have on these open spaces, the roomier it looks.  Cramming every collection, book, or “trinket” just fills up the space in a similar way that clutter does. If you must display sentimental pieces, display a few at the time.  Switching them out on occasion will also give new appreciation for them. 

- Choose sofas and chairs with exposed legs to allow to light to pass through underneath them.  The more light in your room, the better. 

- On that note, light is your friend.  If you can’t get more natural light into the space, use a few lamps instead of an overhead light, as it draws the eye to look around the room. 

- Keep patterns small.  Use a punch or two of larger patterns on pillows or throws, but not too many--remember--less is more. 

- If you need an area rug, don’t settle for a small rug under the coffee table.  Purchase a rug that extends out from the furniture, as it will draw the eye out. 

- Create a focal point with framed pieces on one wall, especially behind a sofa, and extend the arrangement to the ceiling, and it will make the space appear taller.  It will also add pop and take away from the room’s size.  

- Drop-leaf tables or dining tables with the extra leaf removed work best in small areas, and if you need more tabletop space for guests or for workspace, simply add the leaf. 

- Paint--doing this before having to work around furniture and boxes makes the job go faster. 

- Clean everything, including carpets if you plan on keeping them. 

- Add storage to closets or utility rooms. 

- If you’re planning on upgrading the floors, do it before you get everything in the house. 

- Check the attic to make sure it’s adequately insulated.   

- Change the locks!  Every door should get a new lock, including the garage door. 

- Clean the ductwork and vents of the heating and cooling system.  If you’d like a deep clean, call a pro who specializes in cleaning HVAC ductwork. 

- If there’s a fireplace, have it inspected to be sure it’s safe and that the chimney is clean. 

- Find the circuit breaker box, and familiarize yourself with the switches.  If you can’t read the labels, turn each switch off and on to see what areas they control, and label them.  This is also a good time to locate your water main shut-off, so you’ll know where that is. 

- Making major changes too soon isn’t a good idea, unless necessary.  Live in your new home for a while and get a feel for what you love and what you don’t love. Waiting to remodel will allow your finances recover from the down payment and closing costs, as well. 

- You need to know everything that your homeowner’s insurance will cover, and what it won’t.  Make an appointment with your insurance agent to go over your information with them. 

- Taking a large tree down isn’t a good DIY project; this should be left to a professional, so call an arborist or neighborhood committee member to find out what you need to do if the tree is diseased or is a safety hazard. 

- Drilling or nailing into the walls of your new home is better done with a stud finder and make sure there isn’t any old wiring lurking behind the sheetrock.  There should be a setting on the stud finder for electric wires. 

- If your home is brand new, maintaining it is key.  But if you live in an older home, don’t neglect a monthly walk-around and make sure everything is okay.  You don’t want a small fix to turn into a major repair. 

- Saving money shouldn’t stop once you’ve bought your home!  Do your best to cut corners where you can, and continue the saving habits you got into while stocking away that down payment.   

- Throwing away receipts, new appliance user guides and paper work is a mistake.  Keep everything together in a folder labeled “Home Receipts,” so you can find them when you need them. 

- Don’t be a stranger!  Meet your neighbors before you move in; once you’re there permanently, it will be easier to invite them over for a casual get-together. 

- Avoid opening emails whose sender you don’t know personally, or haven’t signed up to receive.
 

- If a sender’s name looks like it’s from a legitimate site, say Google for instance, and the subject matter says that you need to enter your information after clicking a link in the body of the email, don’t.  Google and other reputable email providers, as well as your bank and credit card companies never ask you for information unless you initiate the change. 
 

- When you aren’t sure of a link in an email, hover over it with your cursor, and read the address that pops up at the bottom left of your screen.  Hover over this link:  www.freecadillacforyou.com. Do you see that the actual link says that it will take you to google’s homepage?  That’s how those links work.  Make sure what you’re clicking on goes to where it says it will. 
 

- Anyone that you don’t know that sends you an email telling you they will give you money in exchange for helping them obtain part of it is lying to you.  They are scammers and will clean out your bank account. 
 

- Most web browsers will let you know with a symbol or a pop-up message if a site is secure or not.  If you are trying to go to your bank’s website, but the padlock symbol on your computer is open, then you’re at the wrong place.  Don’t type any personal information--including username and password. 

- Many times, scammers will hijack someone’s account and create a new profile with copied photos and start sending friend requests. As soon as people accept, the imposter sends personal messages claiming to need money because they lost their wallet or debit card. Do not reply to any more messages, and report the scammer to the fraud department.   
 

- “What Character from The Simpsons Are You?” types of quizzes and other questionnaires that request your name and cell phone number in order for you to share with your friends will likely add a charge to your cell phone bill. 
 

- Be careful about complaining in a public tweet or post about your cable company going up on your rates, or your high cell phone bill.  There are scammers who comb social media for posts like that, then, posing as a customer service rep for that company, send you a direct message, offering you a discount if you’ll provide your account number and verify your credit card. You’ll see bogus charges on your next card statement.  
 

- Don’t click on the link for the local news story that Johnny Depp or George Clooney had a flat tire in your town and fell in love with the location, and decided to purchase a home there.  Those fake news websites will install malicious software onto your computer and gather personal information.

- Empty water bottles and a soft ball or a ball of yarn make for a fun game of bowling! Set the water bottles up and start rolling! 
 

- The cardboard tubes from paper towels and toilet paper can be used for several projects, including a marble run, bird feeders, and even STEM activities! 
 

- Different sized plastic storage bowls and a rubber ball can provide lots of fun by creating a bouncy maze.  Set up a path with the bowls, and make a game of bouncing the balls to land in each bowl. 
 

- Have a family competition using straws and pom-poms or cotton balls.  Using a smooth surface, place the pom-poms side by side and blow on them with the straws.  See who can get them to the finish line first! 
 

- Empty food boxes are great oversized blocks for building towers and forts.
 

- A simple thin ice game can be played by placing a tissue over a large mug and securing it with a large rubber band, leaving the tissue as tight as possible without tearing.  Place a quarter on the top, and roll a die.  The roller must poke as many holes in the tissue with a sharpened pencil, trying not to send the quarter “through the ice.” 
 

- Cosmic Kids Yoga YouTube channel has tons of videos to choose from with different themes.  This is a fun activity to get the kids to chill and have fun at the same time. 
 

- The older kids don’t have to be left out.  Check out these great ideas for tweens ranging from art to math to STEM activities from whatwedoallday.com. 
 

- Many museums offer hands-on exhibits for children, and even free admission if the kids are under a certain age.   
 

- Go roller skating or take advantage of the cold temps and hit up an ice skating rink.  Grab a hot chocolate afterwards at a local coffee shop. 
 

- Find a family-friendly Escape Room studio in your area and spend the afternoon working together to get out! 
 

- Many local artists are offering inexpensive paint-and-take sessions for kids and families.  Search on Facebook or your local arts councils for this memory-making venture. 

- As defined by the Business Dictionary, a condominium is a “Single, individually-owned housing unit in a multi-unit building.” In some cases, a condo is in a co-op, which is much different than owning a single unit. 
 

- Architecture of the buildings varies, but the exteriors and common areas are owned by the Homeowners Association (HOA). 
 

- Most condo HOA’s offer community perks, such as a pool, community center, playground, tennis courts, or workout gym. Landscaping is taken care of, and many condo complexes offer gated security. 
 

- Homeowners insurance premiums are normally lower, as the owners only insure the unit’s interior. 
 

- Perks come with a fee, and that will vary from HOA to HOA. House hunters are given this information up front so they can be sure they can handle the added fees in their budget. 

- “Two or three storied single-family housing unit, often connected other such units via party walls.” --Business Dictionary 
 

- Unlike condos, townhouse buyers own the exterior of the unit as well as the interior. 
 

- Architecturally-speaking, the exterior of townhouses in a neighborhood are generally the same style.  
 

- Owning the exterior of a townhouse means you have control of its appearance.  While those communities that have an HOA means you may be limited to certain paint colors, etc., owners otherwise have free rein for upgrades. 
 

- Not every townhouse community is part of an HOA, but either way, the owner is responsible for the upkeep of the landscaping. Some non-HOA neighborhoods still have a few perks, but upkeep for these amenities isn’t a given. 

- Moneycrashers.com defines a duplex as “...a house or building with separate entrances for two families. The units can either be on separate floors (i.e. two-story house) or side by side.” 
 

- Purchasing a duplex usually means you will be purchasing both units--one whole building, though you will find some municipalities that allow half-unit sales. The owner is solely responsible for upkeep of interior, exterior and landscaping. 
 

- For ‘sandwich’ families, a duplex meets important needs: aging parents can live close by their families but have the privacy of their own home. 
 

- Perfect for someone who is interested in a starter investment, renting out the other unit will help with the mortgage, taxes and utilities if the unit shares those meters.