Friday, June 24, 2011
Saturday, February 26, 2011
FIVE TIPS FOR DO-IT-YOURSELF WORK AROUND THE HOME
Make a list: Spend some time taking stock of the kinds of maintenance and improvement projects you'd like to begin. A well-considered list will help you to set reachable goals.
Assess your skills: Make sure that you carefully consider which projects you are fully capable of completing. For example, unless you have sufficient experience with electrical, plumbing or construction work, you should probably leave those tasks to the professionals.
Establish priorities: Which projects are most important to you? Which projects will be the most costly? Which is more important: timeliness, quality or cost? Before beginning any do-it-yourself project, it is always wise to determine specific goals and priorities so that you are fully prepared when it comes time to begin.
Create a budget: For each project that you want to complete, make certain that you have a firm budget in place. Allowing for unexpected circumstances (such as errors or the need for additional materials) in your budget will keep you from overspending.
One step at a time: When it's time to begin, remember to pace yourself! Rome wasn't built in a day, and your new garden terrace will take time as well. Complete one task at a time, and soon you'll feel the wonderful sense of satisfaction and accomplishment that doing-it-yourself can bring
Assess your skills: Make sure that you carefully consider which projects you are fully capable of completing. For example, unless you have sufficient experience with electrical, plumbing or construction work, you should probably leave those tasks to the professionals.
Establish priorities: Which projects are most important to you? Which projects will be the most costly? Which is more important: timeliness, quality or cost? Before beginning any do-it-yourself project, it is always wise to determine specific goals and priorities so that you are fully prepared when it comes time to begin.
Create a budget: For each project that you want to complete, make certain that you have a firm budget in place. Allowing for unexpected circumstances (such as errors or the need for additional materials) in your budget will keep you from overspending.
One step at a time: When it's time to begin, remember to pace yourself! Rome wasn't built in a day, and your new garden terrace will take time as well. Complete one task at a time, and soon you'll feel the wonderful sense of satisfaction and accomplishment that doing-it-yourself can bring
Wednesday, February 16, 2011
How Much House Can You Afford?
There are a number of factors that can contribute to the affordability of a house and, as a potential homebuyer, it's important that you know what type of mortgage payments are within your budget.
Debt-To-Income Ratio
As a homebuyer, your first consideration will be the amount of your monthly mortgage payments. If you owe a lot of debt, lenders may consider you to be a high credit risk, which makes debt-to-income ratio a leading factor in determining how much of a house you can afford.
Most lenders will discount any loans that you will have paid off within one year when determining how much of a home you can afford. As a general rule, your mortgage payment should not exceed 25-30 percent of your monthly take-home pay.
Loan Term
Although you will end up paying more interest in the long run, you will find that you can afford a more expensive house if you request a loan term of 25-30 years, compared to a shorter term of 15 years.
Interest Rates
When you look at an interest rate, all you see is a number. Hopefully, it's a single digit that's comparable with current market rates. Most homebuyers already know that their interest rate affects their monthly payment which, in turn, is determined by the borrower's income. Lower interest rates mean that you can afford a larger principal loan amount, which means a more expensive house.
Credit History
Because your past credit history will play a large role in determining your interest rates, it will also impact the affordability of a house. For instance, a buyer who pays six percent interest will save a considerable amount of money over a buyer who pays eight percent interest on their home loan. It may not seem like much now but, when averaged over time, the savings could be tremendous.
Down Payment Amount
Believe it or not, the amount of your down payment will not only show the lender how serious you are about buying a home, but it will also affect your ability to afford a particular house. For instance, if you were to qualify for a home loan of $200,000, but your dream home was currently listed for $250,000, a down payment in the amount of $50,000 would get you into the home.
The above scenario is just an example, but it does show how a down payment can affect the price of the home that you are able to afford. Some lenders may only require a five percent down payment, but you are free to pay as much above that as you wish. A larger down payment can also reduce the principal loan amount, which thereby reduces the monthly mortgage payments.
Debt-To-Income Ratio
As a homebuyer, your first consideration will be the amount of your monthly mortgage payments. If you owe a lot of debt, lenders may consider you to be a high credit risk, which makes debt-to-income ratio a leading factor in determining how much of a house you can afford.
Most lenders will discount any loans that you will have paid off within one year when determining how much of a home you can afford. As a general rule, your mortgage payment should not exceed 25-30 percent of your monthly take-home pay.
Loan Term
Although you will end up paying more interest in the long run, you will find that you can afford a more expensive house if you request a loan term of 25-30 years, compared to a shorter term of 15 years.
Interest Rates
When you look at an interest rate, all you see is a number. Hopefully, it's a single digit that's comparable with current market rates. Most homebuyers already know that their interest rate affects their monthly payment which, in turn, is determined by the borrower's income. Lower interest rates mean that you can afford a larger principal loan amount, which means a more expensive house.
Credit History
Because your past credit history will play a large role in determining your interest rates, it will also impact the affordability of a house. For instance, a buyer who pays six percent interest will save a considerable amount of money over a buyer who pays eight percent interest on their home loan. It may not seem like much now but, when averaged over time, the savings could be tremendous.
Down Payment Amount
Believe it or not, the amount of your down payment will not only show the lender how serious you are about buying a home, but it will also affect your ability to afford a particular house. For instance, if you were to qualify for a home loan of $200,000, but your dream home was currently listed for $250,000, a down payment in the amount of $50,000 would get you into the home.
The above scenario is just an example, but it does show how a down payment can affect the price of the home that you are able to afford. Some lenders may only require a five percent down payment, but you are free to pay as much above that as you wish. A larger down payment can also reduce the principal loan amount, which thereby reduces the monthly mortgage payments.
Thursday, February 10, 2011
Four Types of Mortgage Lenders for Your Home Loan
One of the least understood aspects of Nevada County home loans is the different types of lenders. Many people assume they have to get a home loan from a traditional savings and loan. Not so. There are many different types of lenders.
Here are the main types of mortgage lenders and how they function:
Mortgage Bankers: Mortgage bankers are loan originators that operate with the sole objective to sell the loan they create to another source. Even though they will sell the loan they must have the ability to finance the loan in the first place and hold it until it is sold.
Mortgage Brokers: This type of lender does not originate loans for your Nevada County home, they prepare the paperwork to submit to multiple lending institutions and get offers they will present to you to choose from. Their offers may come from any of the other types of mortgage lenders.
Banks and Savings & Loans: These are the most common traditional sources of mortgage loans. They use the backing of their depositors to fund mortgages. In turn, they use the money paid by borrowers to repay the depositors’ interest for allowing them to use the money as an investment.
Credit Unions: Credit Unions operate in largely the same way a bank or savings and loan does by using money from a pool of depositors to finance investments in the form of mortgages and other types of loans. The difference is that most credit unions are operated out of a collective pool of closely associated people generally through a work place or professional organization.
If you’d like help determining the best type of mortgage lender for your Nevada County home purchase, give me a call today at 530-913-2019 or email me at teresaprock@hotmail.com.
Keyword/Tag: Nevada County home
Links:
Type of mortgage lenders
http://www.mortgageloan.com/understanding-different-types-mortgage-lenders
Mortgage brokers
http://www.wisegeek.com/what-is-a-mortgage-broker.htm
Credit Unions
http://www.creditunionsonline.com
Here are the main types of mortgage lenders and how they function:
Mortgage Bankers: Mortgage bankers are loan originators that operate with the sole objective to sell the loan they create to another source. Even though they will sell the loan they must have the ability to finance the loan in the first place and hold it until it is sold.
Mortgage Brokers: This type of lender does not originate loans for your Nevada County home, they prepare the paperwork to submit to multiple lending institutions and get offers they will present to you to choose from. Their offers may come from any of the other types of mortgage lenders.
Banks and Savings & Loans: These are the most common traditional sources of mortgage loans. They use the backing of their depositors to fund mortgages. In turn, they use the money paid by borrowers to repay the depositors’ interest for allowing them to use the money as an investment.
Credit Unions: Credit Unions operate in largely the same way a bank or savings and loan does by using money from a pool of depositors to finance investments in the form of mortgages and other types of loans. The difference is that most credit unions are operated out of a collective pool of closely associated people generally through a work place or professional organization.
If you’d like help determining the best type of mortgage lender for your Nevada County home purchase, give me a call today at 530-913-2019 or email me at teresaprock@hotmail.com.
Keyword/Tag: Nevada County home
Links:
Type of mortgage lenders
http://www.mortgageloan.com/understanding-different-types-mortgage-lenders
Mortgage brokers
http://www.wisegeek.com/what-is-a-mortgage-broker.htm
Credit Unions
http://www.creditunionsonline.com
Friday, November 19, 2010
5 Tips to Creating Stress-Free Nevada County Homes
Many people have trouble relaxing, even in their Nevada County homes. Why? Frequently, it’s because of too much visual stimuli such as unfinished projects, knickknacks and clutter.
You may think the answer to being able to relax is to move into a “better” home. However, what usually happens is that you move your unfinished projects and clutter with you. Instead, if you take the time to get organized, you may find – like many owners who have backed out of a sale – that you don’t need to move, you just need to re-organize.
Take a moment from your busy, stressful life to read these tips and discover how you can improve and de-stress your personal castle:
1. Add money to your wallet. Unwanted or unused items can be turned into cash. eBay and Craigslist are two heavily-used websites where you can sell your unwanted/unused items. Make a little cash and clear the clutter.
2. Be generous. If you don’t want to sell your items, don’t throw them away. Donate them to places such as Goodwill. Online, there’s FreeCycle, where you can share your items and give them away to those who really need them.
3. Keep it clean. Set up a system to decide what to do with mail. Many people end up with piles of mail throughout the house. Rather than letting it pile up, decide the day you get it where that mail goes: trash, take action or file away.
4. Include your family in the de-clutter process. After all, your spouse and kids live there, too. As well, if others have a chance to give their input, they may be more willing to keep your Nevada County home organized. Let others in your family have a part in the decision-making process and implementation.
5. Take stray worry off your mind. You may be subconsciously worried about things in your home. Reduce the potential stress by creating a sense of safety. For instance, make sure your smoke detectors are working, that you have a radon meter (if necessary) and a carbon monoxide detector.
You may be thinking, “Home isn’t what stresses me out.” Are you sure? You might be pleasantly surprised how relaxed you’ll be when your home is de-cluttered. Your Nevada County home can truly become a place where you leave the stress at the door.
If you’re looking for a home to relax in after a hard day, I can help. Call me now at 530-913-2019 or email me at Teresaprock@hotmail.com] for more information.
Keyword/Tag: Nevada County home
Links:
Goodwill
http://www.goodwill.org/get-involved/donate/
FreeCycle
http://www.freecycle.org
Keep your home organized
http://www.lifeorganizers.com/cm_articles/102_10_ways_to_declutter_your_home_280.html
You may think the answer to being able to relax is to move into a “better” home. However, what usually happens is that you move your unfinished projects and clutter with you. Instead, if you take the time to get organized, you may find – like many owners who have backed out of a sale – that you don’t need to move, you just need to re-organize.
Take a moment from your busy, stressful life to read these tips and discover how you can improve and de-stress your personal castle:
1. Add money to your wallet. Unwanted or unused items can be turned into cash. eBay and Craigslist are two heavily-used websites where you can sell your unwanted/unused items. Make a little cash and clear the clutter.
2. Be generous. If you don’t want to sell your items, don’t throw them away. Donate them to places such as Goodwill. Online, there’s FreeCycle, where you can share your items and give them away to those who really need them.
3. Keep it clean. Set up a system to decide what to do with mail. Many people end up with piles of mail throughout the house. Rather than letting it pile up, decide the day you get it where that mail goes: trash, take action or file away.
4. Include your family in the de-clutter process. After all, your spouse and kids live there, too. As well, if others have a chance to give their input, they may be more willing to keep your Nevada County home organized. Let others in your family have a part in the decision-making process and implementation.
5. Take stray worry off your mind. You may be subconsciously worried about things in your home. Reduce the potential stress by creating a sense of safety. For instance, make sure your smoke detectors are working, that you have a radon meter (if necessary) and a carbon monoxide detector.
You may be thinking, “Home isn’t what stresses me out.” Are you sure? You might be pleasantly surprised how relaxed you’ll be when your home is de-cluttered. Your Nevada County home can truly become a place where you leave the stress at the door.
If you’re looking for a home to relax in after a hard day, I can help. Call me now at 530-913-2019 or email me at Teresaprock@hotmail.com] for more information.
Keyword/Tag: Nevada County home
Links:
Goodwill
http://www.goodwill.org/get-involved/donate/
FreeCycle
http://www.freecycle.org
Keep your home organized
http://www.lifeorganizers.com/cm_articles/102_10_ways_to_declutter_your_home_280.html
Saturday, October 23, 2010
What Future Buyers Are Looking For In Nevada County Homes for Sale
Owners of Nevada County homes for sale are wondering, “What are buyers looking for?” This is especially true if the home has been on the market for a while. Well, homeowners aren’t the only ones. Several companies, including Better Homes and Gardens and Avid Ratings, the exclusive research provider for the National Association of Home Builders, have researched this question.
So, what are buyers looking for in national and Nevada County homes for sale? In a 2010 Avid Ratings homebuyer’s study, over 22,000 homeowners, who bought their homes in the past nine years, provide some clues. In short, the study says practicality beats out extras any day.
The days of formal dining rooms, oversized backyard patios and community clubhouses are gone. Swimming pools aren’t that big a deal, but neither are upstairs laundry rooms or home theaters. These extras have been replaced by practicalities such as:
· Children’s playground
· Walking paths
· Large kitchens (with island if possible)
· Home office or study
· Main-floor master bedroom
· Two-car garages
· Oversize showers with seating
As well, although buyers are willing to have less space, they’re big on “green” features such as high-efficiency windows, insulation and appliances.
The home survey by Better Homes and Gardens reveals much the same information. Homeowners and potential buyers pointed towards downsizing into smaller, greener homes. Again, high-efficiency appliances topped the interest levels, with a lean towards Energy Star appliances.
The home office is still a priority, although it doesn’t have to be dedicated space; many would be perfectly happy with a multi-purpose space, instead. The real key, however, is no wasted space, along with ample storage.
If you’re considering doing any amount of remodeling to excite potential buyers, the information contained in these surveys are priceless. If you’re one of the owners of Nevada County homes for sale thinking your house is too small, it’s great news. If you thought you might upgrade to more energy-efficient appliances, you’re on the right track. Consider what you can do to make your home more “future buyer” friendly!
If you’d like to sell your home or are looking for a more energy-efficient home, I can help. Call me now at 530-913-2019 or email me at Teresaprock@hotmail.com for more information.
Keyword/Tag: Nevada County homes for sale
Links:
Avid Ratings
http://www.avidratings.com/
Homebuyer’s study
http://articles.latimes.com/2010/apr/04/business/la-fi-lew4-2010apr04/2
Home survey by Better Homes and Gardens
http://rismedia.com/2010-01-21/looking-ahead-cents-and-sensibility-top-priorities-for-homeowners-in-2010/
So, what are buyers looking for in national and Nevada County homes for sale? In a 2010 Avid Ratings homebuyer’s study, over 22,000 homeowners, who bought their homes in the past nine years, provide some clues. In short, the study says practicality beats out extras any day.
The days of formal dining rooms, oversized backyard patios and community clubhouses are gone. Swimming pools aren’t that big a deal, but neither are upstairs laundry rooms or home theaters. These extras have been replaced by practicalities such as:
· Children’s playground
· Walking paths
· Large kitchens (with island if possible)
· Home office or study
· Main-floor master bedroom
· Two-car garages
· Oversize showers with seating
As well, although buyers are willing to have less space, they’re big on “green” features such as high-efficiency windows, insulation and appliances.
The home survey by Better Homes and Gardens reveals much the same information. Homeowners and potential buyers pointed towards downsizing into smaller, greener homes. Again, high-efficiency appliances topped the interest levels, with a lean towards Energy Star appliances.
The home office is still a priority, although it doesn’t have to be dedicated space; many would be perfectly happy with a multi-purpose space, instead. The real key, however, is no wasted space, along with ample storage.
If you’re considering doing any amount of remodeling to excite potential buyers, the information contained in these surveys are priceless. If you’re one of the owners of Nevada County homes for sale thinking your house is too small, it’s great news. If you thought you might upgrade to more energy-efficient appliances, you’re on the right track. Consider what you can do to make your home more “future buyer” friendly!
If you’d like to sell your home or are looking for a more energy-efficient home, I can help. Call me now at 530-913-2019 or email me at Teresaprock@hotmail.com for more information.
Keyword/Tag: Nevada County homes for sale
Links:
Avid Ratings
http://www.avidratings.com/
Homebuyer’s study
http://articles.latimes.com/2010/apr/04/business/la-fi-lew4-2010apr04/2
Home survey by Better Homes and Gardens
http://rismedia.com/2010-01-21/looking-ahead-cents-and-sensibility-top-priorities-for-homeowners-in-2010/
Sunday, October 3, 2010
4 Reasons You Should Buy Nevada County Real Estate in a Down Market
The national and Nevada County real estate markets are constantly fluctuating, falling somewhere between more inventory and lower prices and less inventory and higher prices. People are often frightened when the home inventory rises, but a declining real estate market may just be the perfect time to find your next home.
Here are 4 reasons why you should consider buying Nevada County real estate in a down market.
1. Inventory. When the market is down, more homes are for sale. This means you have more homes to choose from, which makes it easier to find a home in your dream neighborhood or closer to work or school.
2. Negotiation. There’s a reason down markets are called “buyers’ markets.” Sellers want to sell their homes, and they are often willing to do whatever it takes. This means you have the advantage and can buy a home for a great price. You can also ask the seller for other incentives like paying all or a portion of your closing costs.
3. Mortgage Rates. When the real estate market begins falling, interest rates get cut. This can mean considerable savings for you over the course of your mortgage. You can even buy a larger home within your price range than you can when the market is booming.
4. Investment. Even though doom and gloom is forecasted in a down market, your home will still most likely go up in value or at least retain its value. Keep in mind that your home is your most personal investment. It’s a place where you will create memories and maybe even raise a family.
If you’re considering buying a home, let me help you find a wonderful home at a great price. Call me today at 530-913-2019 or email me at Teresaprock@hotmail.com.
Keyword/Tag: Nevada County real estate
Links:
Buying Nevada County real estate in a down market
http://homebuying.about.com/od/buyingahome/qt/Waittobuy.htm
Negotiation
http://www.repair-home.com/son/buyers_market.htm
Mortgage Rates
http://www.bankrate.com/
Here are 4 reasons why you should consider buying Nevada County real estate in a down market.
1. Inventory. When the market is down, more homes are for sale. This means you have more homes to choose from, which makes it easier to find a home in your dream neighborhood or closer to work or school.
2. Negotiation. There’s a reason down markets are called “buyers’ markets.” Sellers want to sell their homes, and they are often willing to do whatever it takes. This means you have the advantage and can buy a home for a great price. You can also ask the seller for other incentives like paying all or a portion of your closing costs.
3. Mortgage Rates. When the real estate market begins falling, interest rates get cut. This can mean considerable savings for you over the course of your mortgage. You can even buy a larger home within your price range than you can when the market is booming.
4. Investment. Even though doom and gloom is forecasted in a down market, your home will still most likely go up in value or at least retain its value. Keep in mind that your home is your most personal investment. It’s a place where you will create memories and maybe even raise a family.
If you’re considering buying a home, let me help you find a wonderful home at a great price. Call me today at 530-913-2019 or email me at Teresaprock@hotmail.com.
Keyword/Tag: Nevada County real estate
Links:
Buying Nevada County real estate in a down market
http://homebuying.about.com/od/buyingahome/qt/Waittobuy.htm
Negotiation
http://www.repair-home.com/son/buyers_market.htm
Mortgage Rates
http://www.bankrate.com/
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