Tuesday, March 31, 2015

Smart House III: The Rise of the Machines

You are now a smart home believer, and have taken the full plunge into home automation.  No fear of Skynet here.  You have your thermostat, lights, appliances, etc., all controlled and able to be accessed by your smart device.  You are ready for the next evolution in smart technology for the home, and it is that parts of the smart house can now clean itself.  By now, most people are familiar with iRobot’s groundbreaking technology of a vacuum that cleans on its own.  There are several models out there depending on your cleaning needs and level of involvement you want to exert.  All will run on their own and can move around obstacles and avoid stairs, but some offer spot treating and remote control access for you to drive to a particular area.  There are even options for when you want a sweeper for hard surfaces or a deeper vacuum for carpet.  All have a rechargeable battery and the newer models have a charging base that the Roomba will return to after a cleaning cycle.  What about a smart device that does windows?  Evovacs Winbot is the new device on the market that is turning all heads.  It suctions to a window or mirror, crisscrosses the surface and cleans it with the use of a cleaning pad, squeegee, and drying pad.  It will keep cleaning until there is absolutely no trace of dirt or dust on the surface.  That certainly makes my day. 

So the inside of the house has started to be taken care of, but what about the outside.  Have no fear, landscaping and cleaning the outside of your home just got easier too.  Tired of the mowing your lawn week after week and wish there was some way to get out of that backbreaking chore.  Welcome a Honda Miimo into your life.  This is a new roving lawnmower that works like a Roomba.  Once you install the perimeter wire that will prevent the Miimo from wandering into your neighbors’ yards, all you have to do is set how high you want your grass.  Over the next seven days, the Miimo will cut your grass while you sit and relax.   It mows in a random pattern and will change directions when it encounters an obstacle.  What’s even better is that since it only cuts 3 millimeters of grass with each pass, the clippings are small enough to leave them as they fall and will act as fertilizer for the lawn.  Tired of cleaning your gutters month after month, iRobot has done it again and introduced something to help you there too.  Their Looj 330 will take on that job for you and will kick out debris and muck while you relax.  You will still need to climb up on a ladder to set it and for manual control for tougher blockages, but for the basic cleaning, set it on automatic and have your gutters free of debris faster and safer than when you do it yourself.  I wonder where home automation will take us next.  


Sunday, March 29, 2015

Just Walk on By


            So, you are pretty handy and have tackled several DIY projects with gusto.  You decide that you want a home with character and are not afraid to consider a home that needs a little work.  Sure, Bob Villa is your hero and you can’t wait to get your hands dirty and put your own stamp on your new home.  But, unless you are a professional sometimes buying that fixer-upper is more than the average DIYer can handle.  The asking price may be irresistible but the added cost of unexpected repairs during renovations can really eat into your budget.  So, how do you know whether the home you are looking at is more of a money pit than dream project?
           
          While nothing will replace a full home inspection to determine if there are real problems with a home, there are a few red flags out there.  These warning signs should clue you in that you should move on to the next home as the cost of repair or renovation will outweigh any initial discount in price.  If things like water damage, sagging ceilings, roof damage, cracks and crevices, and rotting wood are major indicators that there are things wrong.  All of these could cost a lot to fix and could mean that there are even deeper issues to resolve.  But what about the things you can’t tell just by looking?  Most fixer-uppers are older which means that there is a higher probability that they may contain lead-based paint, asbestos, or hidden mold, all of which can pose a major health hazard.  The cost of removal by a certified specialist can take a long time, holding up any planned renovations, and can cost a lot of money.  Even though the home is a steal, as the song goes, it may be better to just walk on by.


The 5 W’s in Today’s Market



What is going on in the current market?
            The real estate Market has come a long way since 2005.  In 2005, the average price per square foot was $246, in 2012, it was $103, and today it’s $161.  We currently have about two month’s inventory, and the prices have overall stabilized.  Houses that are listed for $315,000 and less have a little more pressure since the PMI has decreased, giving buyers a higher mortgage limit. 

Who is in the market right now?
            We’re seeing a lot of first time homebuyers getting preapproved and taking advantage of the low interest rates.  However, something we haven’t seen in the market for a while are “move up” buyers.  These are families who already have a house, but would like to purchase a larger property.  When move up buyers come into the market, it shows that homeowners are more optimistic with the economy long term.

Where is it hot?
            Homes under $200K are the hottest right now.  This is most likely due to having both first time buyers and investors taking advantage of the lower end of the market. 


When is it a right time to buy or sell?
            When it is right for you!  You are the only one who knows if your situation is ready for either entering the real estate market or moving to a different house.  If you are considering a move, do not wait too long as times are changing.

Why?

            Interest rates are still at historic lows and home prices are still affordable.  According to the Federal Reserve. The net worth of a homeowner is 36 times greater than a renter.


Friday, March 13, 2015

A Day Late and a Credit Score Short

Whether you are the type of person who flies by the seat of your pants or the diligent planner, paying your mortgage on time can have a huge impact on your credit score.  But would it surprise you to know that the one who takes the bigger hit is the one with the higher FICO score?  There is nothing worse to someone’s score more than missed payments and they are also the one thing that takes the longest to recover from.  35 percent of what makes up your credit score is your payment history.  So let’s say your score is about 680.  If you routinely pay your mortgage late, your credit score will go down, for example anywhere to 600 to 620.   If you do qualify for credit, you will have to pay higher rates on just about everything from your mortgage, car loans, insurance, etc.  You finally turn things around and start to pay your bills on time.  It will take a while, but generally speaking it could take you around 9 months of consistent on time payments to bring your score back up to 680.  But what happens when you are on top of your payments and then something happens?


You have good credit because you pay all your bills on time.  So let’s say your credit score is from 720 to 780 points. Unfortunately, one month something came up and you pay your mortgage 30 days late just one time.  Your score could drop to between 630 to 670 points.   Hard to believe, but those who are on time seem to be punished the harshest for a late payment.  Even harder to believe, to restore your score after consistently paying on time could take 2 ½ to 3 years to bring your score back to the respective levels of 720 to 780. According to researchers, who conducted just a study back in 2011, generally speaking, the higher the score prior to the delinquencies the longer it takes for someone’s credit score to fully recover.  This is a harsh reminder to keep your accounts current and pay all your bills on time.    


Tuesday, March 10, 2015

Just a Little Touch Up


When you drive through a neighborhood, what is the first thing you notice about it?  How the houses look on the outside and how well kept the yards are.  Curb appeal is important and it is what gives you an idea of what an area or home is like.  Think about it.  Would you move into a house that has an overgrown yard, with a junk car in the driveway, peeling paint and shutters hanging by their hinges?   First impressions make an impact on whether a buyer will even view a home.  You may have spent lots of money improving and staging the inside, but if you didn’t take a moment and put that critical eye on the outside, you may be missing a lot of potential buyers.  What good are all those updates on the inside if no one is going in to take a look?  Ask yourself, “Does my home stand out on the block or is it the pale wall flower of the street?  If buyers are passing you by, maybe you need to take a good look at your curb appeal and see what it will take to get them to come inside.

If you need to spruce up your curb appeal there are a few areas that you may want to consider to attract buyers to take a closer look.  The first thing to consider is paint.  Is your home looking tired from the buildup of dirt over the years or is your current paint peeling?  A fresh coat of paint can do wonders to make an older home looking new, just make sure to choose a color scheme that is contemporary and makes your home the focal point of the neighborhood, without clashing with it.  If your lawn is nonexistent or your trees and shrubs are over grown or even worse, dead to the world, maybe you need to spruce up your landscaping.  A well-kept yard says more about you and your home than you think.  Buyers have a tendency to believe that if you are not on top of maintaining your landscaping, then maybe you are not on top of other things, like home repair.  Keep your yard tidy and make sure anything you plant will complement your existing landscaping and give the impression of a warm and inviting home.   If your driveway, walkways, or sidewalks are cracked and unappealing, install new ones.  There are lots of choices out there and they can have an impact on the overall appearance of your yard.   Lastly, look at your home itself.  Does it need roof repairs, new gutters and downspouts, new doors, new windows, or other surface repairs?  These things may seem like a lot but they are important to buyers.  They want to feel like they are moving into a house that is theirs and move-in ready, without too many repairs.  You may not be able to do everything, but if you choose the most critical items in need of repair or touch up, it can make a huge difference in the amount of traffic you get through your home. 




Smart House II: Judgment Day

So, you have moved into this century and dipped your toes into smart home technology.  You have embraced the future, Skynet watch out.  Even if you are ready to take the full plunge or just the slight wade in to the water, here are a few more things that can make your transition easier. Everyone knows about the coffee maker that you can program and have the perfect coffee when you wake up, but did you know that other kitchen appliances are getting on the bandwagon.  Are you ready for the smart refrigerator or perhaps the smart dish washer?  Samsung now offers the smart fridge with a Wi-Fi enabled LCD screen on which you can check the weather, browse the web for recipes, and even keep your grocery list.  The Bosch 800 Plus Series Dishwasher, with its touch-screen control panel with full-color text, will give you cycle status and maintenance updates. 


Other appliances around the house are getting in on the action too, such as LG’s SmartThinq washer and dryer.  These smart devices can tell when the power consumption in your area is the lowest, thus saving you money by running when rates are low.  You can also control them from your smart phone.  There is even a gadget out there that will help you save money on your water bill by reducing the amount of water you use during your morning shower.  The Waterpebble memorizes how long you take a shower and will slowly decrease your shower time by flashing colored lights when it is time to get out.  Added bonus, besides saving water, it can also get the kids out of the shower without nagging them like the Terminator.  “2 more minutes or I’ll be back.”  Instead you can move them along by having them beat the pebble.  Sounds like a winner to me.  So, sit back, relax, and keep moving towards the smart house of your dreams.  


Tuesday, March 3, 2015

Ready to Move in?

The offer has been accepted, the papers have been signed, the money has been transferred and the keys are in your hands.  You are now the proud owner of your new home.  Now what?  Of course it is time to start moving into that home and making it yours.  But, before you move your boxes and furniture in, take a moment to prepare your home for putting your stamp on the place.  The first thing you need to do with those ever important keys is to get rid of them.  In other words, you should have all the locks changed in your new home.  Who knows who still has a set of those keys and has access to your new abode?  What if the old owners had given sets to servicemen, babysitters, pet sitters, neighbors, etc. and didn’t inform them that they are moving?  To avoid any awkward walk ins, or the hassle of trying to track down every key, the best thing you can do is head things off at the pass and just change the locks.  It will give you piece of mind and will make you and your family safer in the long run.


          Ok, locks are now changed, so now you are ready to move in.  Not quite yet.  While the house is empty, now would be the best time to do a few things that all those boxes and furniture around would make more difficult.  Does the whole house need a thorough cleaning?  It will be much easier to get this done without all the clutter of unpacking all around.  What about painting, repairs, or renovations?  Things will be easier for you or professionals if you don’t have your whole family around underfoot.  I know you are anxious to move in, but what will it cost to wait a few more days in the bigger scheme of things.  Taking the time to plan and prepare before you move into your new home will make things easier and smoother for all in the long run.  But try to remember to avoid the real nightmare of moving into a new home, having to wait for internet or cable/satellite installation?  Are you and your family willing to move in on a Saturday when your installation isn’t scheduled until the following Tuesday?  If your family is anything like mine, dealing with a teenager with no internet and TV for four days is absolutely frightening.  So please plan ahead.