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Avoid These Comments When You’re Buying a Home

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Sometimes you need to keep a poker face when you’re buying a home. It’s not in your best interest to be totally candid with the seller and listing agent when you’re considering a home. Here a few things that are better left unsaid.

“This is at the top end of our budget”: Don’t let the listing agent know that a home is at the top of your budget. You want to keep all the bargaining chips you can, and letting the seller know your budget can hurt you when it comes time to negotiate.

“I hate the paint”: Or furniture. Or cabinets. Or any of the decor. No matter how hideous the wallpaper in the kitchen is, take care not to insult the seller’s taste. If they’re considering multiple offers, you don’t want to be the buyer that offended the seller!

“We can’t wait to renovate”: Customization is one of the big perks of homeownership, but it’s best to keep your renovation plans quiet for the moment. The seller may have a lot of memories in the home, and may not appreciate your plans to immediately tear down some walls.

 

 

Five Maintenance Resolutions for Your Home

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We may be a little removed from New Year’s Day, but it’s not too late to make some 2016 resolutions for your home.

1. Start a home repair slush fund: Things in your home are going to break and need to fixed. It’s just a fact that comes with home ownership. Rather than letting expensive repairs take you by surprise, start planning for them. Set aside some money each month that you can eventually draw from when an appliance breaks or unexpected damage occurs.

2. Inspect your fireplace: Even if you have a gas fireplace, you should still inspect the valves and ceramic logs yearly to ensure that everything is operating safely and correctly. If you have wood fireplace, hire a certified chimney sweep to do the job.

3. Maintain your garage door: Garage doors are big and heavy, and that puts a lot of stress on the hinges and tracks that are use to open and close the door several times a day. A regularly scheduled $50 inspection could save you hundreds or thousands in the long run.

4.Tune up your furnace: Regular furnace inspections will help identify minor problems before they turn into major ones. Also, set reminders to replace your furnace filter.

5. Clean your coils: The No. 1 refrigerator maintenance task should be cleaning the condenser coils. They can get clogged with hair and dust, reducing your fridge’s efficiency. Have you cleaned yours lately? You can hire a professional to do it, but it’s also an easy do-it-yourself job.

Refinancing, the Right Move?

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The federal reserve recently raised interest rates, and if you have an Adjustable Rate Mortgage (ARM), it may be a good time to consider refinancing your home. There’s no one-size-fits-all answer to whether your should refinance, so here are a few of the main considerations.

How long does your introductory rate last?
Most ARMs have a fixed rate for the beginning of the mortgage. This is an introductory period (usually 3-10 years) when your rate will remain constant before it can be adjusted. If you have several years left in your introductory period, you can monitor interest rates for a while before making a decision. But if the intro rate is ending soon, it’s a great time to explore refinancing at a fixed rate.

How long are you staying?
If you plan to sell your home soon—especially if you’re still on a fixed introductory rate—there’s not much motivation to refinance. But if you’ll be at your home indefinitely, you should consider your refinancing options. You could eliminate the stress of not knowing what your future mortgage rate and payments will be.

What’s your loan balance?
The change in your mortgage payment will of course be determined in part by your remaining balance. If you owe $100,000-$200,000, a new interest rate may not greatly affect your monthly payment. On the other hand, if you owe $500,000, a change in interest rate could lead to a much higher payment.

Other factors
The previous items are just a few of the factors that should go into a decision about refinancing. Changes in income and your current credit score should also be considered, so be sure to weigh your options and make an educated decision.

 

The New, Improved Doorbell!

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You’re probably familiar with devices like Nest, which use smart technology to automate your thermostat and save you money.

Think of Ring as the Nest of doorbells. It’s a product that replaces your standard doorbell with a device that connects to your home WiFi connection and sends video and audio of your doorstep to your mobile device.

In other words, you can use your smartphone to see who’s at the door, and you can do it from anywhere in the world.

It brings a whole new level of convenience. You’ll never have to worry about missing a delivery or having a package left in the wrong place—you can be at work when FedEx arrives, and use the intercom feature to tell the delivery man to leave the package where you please.

It’s also a great security tool. You can use the intercom to give the appearance that you’re home, turning away everyone from annoying salesmen to potential burglars. It activates with motion detection, so you don’t have to wait for the doorbell to ring before you’re alerted that someone is at your home.

There are various ways to install Ring, and it starts at $199. Go to ring.com to learn more.

 

Five Tips for First-Time Buyers

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No matter how much time you spend on researching and educating yourself about your home purchase, it’s hard to cover every detail. Here are a few tips for avoiding rookie mistakes with your first home purchase.

  1. Save as early as you can: Even if you think you’re years away from buying your first home, try to start saving for your down payment. It makes a huge difference in your monthly payments, and helps avoid paying Private Mortgage Insurance.
  2. Be thorough with mortgage shopping: There are countless resources out there that can help you get the best terms for your mortgage. It may seem like a lot of work to shave less than a point off your mortgage rate, but it’ll save you thousands in the long run.
  3. Consult a skeptic: You’re likely to fall in love with a home, and that can make it difficult to take problems seriously. Bring along a skeptical friend or family member who can give you an honest opinion.
  4. Be patient with getting settled: You’ll be anxious to make your new home your own, but take some time to see how your budget truly shakes out. In other words, hold off on big furniture purchases and remodeling projects.
  5. Make sure you’re happy with the neighborhood: The house may be perfect, but don’t discount the surroundings. You don’t want to end up in the suburbs if you’re going to miss walking to your favorite coffee shop, and you don’t want to settle for the city if you’re looking forward to some peace and quiet.

 

No Time Like the Present!

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Thinking about buying your first home, or perhaps upgrading from your current place? Thanks to the current economic climate and game-changing technology in the housing market, now is the perfect time to take the plunge.

Low interest rates
Lenders are giving buyers mortgage rates that are extremely enticing—you can get a mortgage below 4.0%. There’s a good chance these are the lowest mortgage rates we’ll see in a long time, which means affordability is at a high.

Prices are on their way up
Mortgage rates may be low, but housing prices are getting higher and higher because of demand—prices increased 5.1% year-over-year in November 2015. If you’re thinking about buying, delaying a few years could lead to a higher purchase price, or getting less home for your money.

A great job market
The United States added 2.65 million jobs in the last year. There’s increasing job security and available work, leading to high consumer confidence.

Technology makes buying simpler and less expensive
Along with listing websites like Zillow and Trulia, there are an increasing number of websites and apps that simplify the process, make it easier to shop around for homes and mortgages, and save you money.

Cheap fuel
Lower gas and energy prices mean more money in your pocket and more purchasing power. The money you’re not putting into your gas tank or toward your utilities can instead go toward saving for a down payment or affording a bigger monthly mortgage payment.

 

The Great Mountains of the Pacific Northwest

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The Northwest is home to a variety of different mountain ranges which can be extremely picturesque as a view from your back window. If you’re planning on settling in Oregon it is important to note that you could be in close view of some of the most spectacular mountain ranges in the Northwest by carefully selecting your property. Mountain range is really add to the value of your home and can give you plenty of opportunity for hiking, exploring and getting in touch with the outdoors. Here’s a breakdown of some of the top mountain ranges in the Northwest that you could possibly enjoy a view of by purchasing real estate in Oregon:

  1. Mount Hood: Mount Hood is home to some beautiful ski resorts and spectacular lakes. If you are looking for a weekend getaway or you want to take to the slopes through the winter close locations to Mount Hood could be perfect for you or your family.
  2. Mount St Helens: located northeast of Portland Oregon this volcano erupted last on July 10, 2008. Mount Saint Helens is perhaps America’s most famous volcano and it features spectacular views as well as a national park. Taking in its beauty or exploring the natural Park and reserve center can be a wonderful experience for you and your family.
  3. Mount Adams is located in nearby Washington and is a potentially active volcano in the same category as Mount Saint Helens. It’s the second-highest mountain in the entire state of Washington and plays host to a wonderful US national Park which can offer the perfect getaway for any outdoor adventurers settling in Oregon.
  4. Mount Jefferson: Mount Jefferson is part of the cascade Range and brats on the most recognizable mountains in Oregon because it’s the second-highest. Mount Jefferson is itself a volcano as well but its latest direction took place in 950 A.D. The area surrounding Mount Jefferson is pristine and perfect for outdoor explorers.

These are just a few of the great mountains of the Northwest that you could potentially explore or have views of from your new home in Oregon.