HALLOWEEN SAFETY TIPS

HALLOWEEN SAFETY TIPS

Homeowners:

·         Clear yard of anything that can trip the young ones

·         Put pets away to protect them from cars or biting a trick-or-treater

·         Use battery-powered jack-o-lantern candles

·         Healthy food alternatives for trick-or-treaters

o   Pkgs. Of cheese or peanut butter crackers

o   Single-serve boxes of cereal

o   Packaged fruit rolls

o   Raisins

o   Packets of microwavable low-fat popcorn

Trick-or-treaters:

  Carry a flashlight

·         Make sure costumes don’t drag on the ground

·         Walk, don’t run

·         Wear clothing with reflective markings or tape

·         Carry only flexible knives, swords or other props and use caution

·         Obey traffic signals

·         Stay in familiar neighborhoods

·         If there is no sidewalk, walk on the left side of the road facing traffic

·         Approach only houses that are lit

·         Stay away from, and don’t pet , animals you don’t  know

Parents:

·         Eat a healthy dinner before starting out

·         If your children go out on their own, be sure they wear a watch, preferably one that can be read in the dark

·         If you buy a costume, look for one made of flame-retardent material

·         Let your older children carry a cell phone so you may reach them if necessary

·         Tell children to bring all candy home to be inspected before consuming, and toss out anything that looks suspicious.

Painting Walls: Wall Preparation Tips

Painting Walls: Wall Preparation Tips

By Howard Stier

Preparing walls for painting is the most difficult part of the painting process. But if you don't put the time to scrape, patch, sand and prime the walls, your finished project will show it.  So if you want beautiful, glass smooth walls and baseboards, follow these simple preparation tips.

What you'll need

• Vacuum
• Soap and water
• Bleach
• Non-ammonia detergent
• Drop cloths or newspaper
• Flashlight
• Paint scraper
• Joint compound
• Knife and wide blade
• Power palm sander or sanding block
• Solvent or spot remover
• White shellac or stain removing primer
• Primer or tinted primer
• Heat gun (if prepping baseboards)

How to Prep Your Walls:

1)Dust and vacuum all surfaces and for good measure, wash the walls down with soap and water. This is especially important in kitchens and bathrooms.  If you see evidence of mold which appears as gray-green speckles, use a solution of up to a quart of bleach to 3 quarts ammonia-free detergent. (Never mix bleach with ammonia).  Dab the solution on the area and allow to sit for about 10 minutes before rinsing thoroughly.

2)  Cover floors and furniture with newspaper or drop cloths.

3) Smooth the walls. Direct a flashlight across the walls to double check for any problems. For cracks or flaking areas, use a paint scraper until you reach a solid coat of paint beneath. If you find torn drywall, trim the torn piece with a knife and apply joint compound over the damaged area. For large bare patches, use a wide blade to apply joint compound, applying several thin coats instead of a thick coat. Once you have applied the compound and let it dry, smooth it with a palm sander or sanding block. Don't over-sand.

4. Fix surface stains with a detergent/water solution or solvent/spot remover.  If the wall is discolored, you will need to seal the area with a stain-removing primer such as white shellac which also effectively covers knots in paneling or trim and prevents resins from bleeding through.
5. Prime any repaired areas as per the manufacturer’s directions. This step will ensure paint will adhere well and will prevent future peeling. You will need to check recommendations for priming unpainted wood, which may need a different type of primer.  If you are repainting walls or ceilings, you may not need to prime first unless you are making a dramatic color change from a dark to light color, for example, or if you are trying to cover stained areas.  You will need to apply primer to any joint compound repairs to prevent an uneven appearance. Besides, a layer of tinted primer is less expensive than two coats of paint.

6. To prepare the trim, you will also need to lightly sand imperfections.  You may need to take old paint down to the raw wood by stripping, sanding, heating and/or scraping. If the paint was applied before the late 1970s, you need to test for lead before removing.

You'll need a heat gun to scrape off old baseboard paint. Keep the nozzle of the gun moving across the surface while you scrape it with a stiff scraper. A razor-edge scraper can be used to clear grooves in molding.

Sellers, here is what buyers really think about your home

Sellers, here is what buyers really think about your home

Have you ever wondered what a potential homebuyer thinks when she visits your house? In the past two months, I’ve visited dozens of homes with my Texas REALTOR®. Here are a few questions that have come to mind while I tour homes – and they may apply to yours.

What’s that smell?

I never realized how sensitive I am to smells until I saw eight houses in one day. The pet smells, air fresheners, mildew, and fresh-paint odors left me with a pounding headache.

Some people love the smell of cinnamon apples and others might not, but get some help from your Texas REALTOR® to figure out a way to create a more neutral smelling experience. That might mean opening a few windows before a showing or temporarily moving the litter box.

Will that dog bite us?

As a pet owner, I know I can’t always take my beloved pet with me wherever I go. If you can take your pets with you when a buyer comes for a viewing, though, it can make for a much better home-tour experience. Why? Some people might be afraid of your pet. Other times, your pet can be a distraction. It’s hard to concentrate when a barking dog accompanies you on your property tour.

Where would I put my stuff?

It’s true what they say: buyers have a hard time looking past excessive clutter. When that spacious closet you’re trying to sell me on is packed full, I can’t tell how spacious it truly is. And navigating through your kids’ toy maze is just as annoying for me as it is for you.

It’s hard to please every potential homebuyer who will walk through your door, but there are a few simple ways to make your home a little more inviting so your house isn’t known as “the one with the cat smell” or “the one with the toy booby traps.”

Talk to your Texas REALTOR® and be open to his advice about preparing your home for sale. He’ll know what attracts homebuyers to a property, and he’s on your side to get it sold.

Seasonal Tips for a Great Looking Property This Fall

Seasonal Tips for a Great Looking Property This Fall

It’s hard to believe that fall is already upon us. Summer may be over, but now is not the time to neglect a home’s exterior, especially if it’s going to soon be listed for-sale this season. Here are a few tips to help you embrace the fall season and keep your property looking its best:

·     The most obvious tip: rake up leaves on a frequent basis;

·     Inspect your gutters regularly and remove any leaves that get trapped;

·     Carry on weeding garden beds and walkways;

·     Remove all annual flowers that are no longer blooming and plants that are past their “best before” date.  Dead vegetation gives the impression of a home not cared for;

·     If you’re experiencing a warm, dry fall in your area, you’ll still need to irrigate your lawn (according to local by-laws of course);

·     Fertilize your lawn before the ground freezes (unless you’re lucky enough to live in a year-round warm climate).  This will give your grass a head start in the spring.  However, check with your local garden center first to find out if this is the right course of action for your particular environment;

·     Readjust the timers on outdoor lighting displays since it now gets dark earlier;

·     Give your gardens some liveliness by planting fall flowers such as chrysanthemums. Choose a color that compliments the exterior of your home;

·     Redesign your urns and flowers pots – it’s time for a fall theme;

·     Add some vignettes. Sometimes, it’s the little things that produce the most attention.  My personal favorite for generating anticipation in potential buyers is to create a simple fall vignette on the porch. Pumpkins add a punch of color and provide a warm, welcoming look when blended with something interesting like a couple of antique lanterns, for example.  Be careful not to add too many items to the vignette or it will appear too cluttered.

If there’s a swing or rocking chair on the porch, add cushions with a generous amount of orange in them to tie everything together.  If you pay this much attention to the exterior of your home, buyers will be anxious to see what awaits them behind the front door.  The photo above was taken at the side door of a property that was never used as an entry point. Be sure when creating your vignette that you don’t block access to the front door.These are just a few things that will help keep the exterior of your home looking terrific right through to the next season: The dreaded winter.  We won’t think about that right now though!

Author: Charlene Storozuk

Caring For Your Wood Deck

Caring For Your Wood Deck

Wood decks can be a center of relaxation and comfort for their owners. A place where they can while away the afternoon or weekend in peace. A place where they can set up deck chairs or a table and sip drinks as the day lazily passes, or munch on barbecue fresh from the grill. In order to provide years of necessary comfort, wood decks require you do a little care and maintenance each year.

Check for damaged boards (once a year)

The boards that make up the surface of your deck and steps are subject to all kinds of stress and usage. Over time, they will wear out or rot. If you don't check for and replace damaged boards each year, you could be setting yourself or your family up for an injury.

1. Examine the surface boards of your deck. Look for signs of stress, like excessive curling, cracking, rotting, or severed boards. Any you find will need to be replaced.

2. Measure the damaged board.

3. Purchase a replacement board. Your local lumberyard or hardware store (if they carry wood) should be able to help you. Pressure treated wood is preferable, otherwise you'll need to seal the wood yourself (which can be done before or after installation.

4. Remove the damaged board. If nails were used to secure the board, you will need a small nail puller or a hammer to pry the nails out. Use a small block of wood for leverage. The block of wood will protect the boards that don't need to be replaced. If screws were used to secure the damaged board, a screwdriver or drill (with screwdriver bit) should do the trick. Also, wear work gloves when lifting the board out to prevent splinters.

Rent vs. Buy Market Myths

3 Rent vs. Buy Market Myths

Buyers are sometimes stunned at the number of potentially life-changing decisions and choices they are required to make over the course of a house hunt. This neighborhood or that one?  Condo or single family? Fixer or move-in ready? Is that the right house? How much to offer, and on what terms? When to make an offer?  Whether to remove contingencies?

And that’s just the short list.

But one of the most basic decisions real estate consumers ever make is the most impactful one, and it’s often one they make before they have the benefit of our expertise: whether to rent or to buy their home.Trulia recently released what has been called the most sophisticated Rent vs. Buy calculator ever – you can work with it and experiment with some of the inputs your average buyer client would likely use here. The calculator allows smart would-be buyers to understand the many economic factors that influence whether it is cheaper to rent or to buy in their area and more importantly, in their personal situation, including line items like:

• how long you intend to stay in the home;
• your income tax bracket;
• mortgage down payment, term and interest rate;
• property taxes;
• closing costs or selling closing costs;
• rental and homeowners insurance; and
• utilities.

When buyers do come to you with assistance on the rent vs. buy decision, you might find the calculator helpful in showing them how their personal life and financial factors change the equation, and helpful in putting together an action plan that takes them to ready-to-buy with increased savings or a more conservative purchase price.

The calculator also makes it incredibly simple for you to help clients understand alternative scenarios by changing the mortgage rate, the income tax bracket for tax deductions, and the number of years that they plan to stay in the home.

We asked our Chief Economist Jed Kolko to help us understand the math – and the myths – around the rent vs. buy cost factors nationwide.  Here’s what he had to say:

Myth:  Rising home prices and mortgage rates make it more expensive to buy than to rent.

Fact: Homeownership remains cheaper than renting nationally and in all of the 100 largest metro areas. But rising mortgage rates have narrowed the gap between the cost of buying and the cost of renting.

The 30-year fixed rate is now 4.80%, compared with 3.75% one year ago (according to the Mortgage Bankers Association, or MBA). This jump in rates has raised the cost of buying relative to renting. As a result, buying is 35% cheaper than renting today, versus being 45% cheaper than renting one year ago.

The key reason buying is still cheaper than renting is this: both rates and prices are rising from very low levels and are still below their long-term historical norms. But the rent versus buy math depends on your local market, as rising rates and prices have pushed a handful of metros very close to the tipping point when renting becomes cheaper.

Myth: The mortgage interest deduction is the only reason home ownership is more affordable than renting.

Fact: A key factor affecting the rent-versus-buy math is whether you itemize deductions on your income taxes and what tax bracket you’re in. If you itemize, you can deduct mortgage interest payments (not principal payments) and property tax payments from your income before calculating how much you owe in taxes. That said, only 33% of tax filers choose to itemize. Itemizing lowers the cost of buying relative to renting – especially if you pay taxes at a higher rate, because that means you’re deducting more.

But buying remains cheaper than renting almost everywhere even if you don’t itemize. Without itemizing – or if your tax situation means you get no benefit at all from itemizing – buying looks 22% cheaper than renting nationally. And buying still beats renting in 97 of the 100 largest metros – everywhere but San Jose, San Francisco, and Honolulu, even without assuming that the buyer will itemize their taxes and use the mortgage interest deduction.

	Itemize at 25% (baseline assumption)	Do not itemize
Cost of buying versus renting nationally Note: Negative numbers indicate that buying costs less than renting.	-35%	-22%
Metros out of 100 where buying cheaper than renting	100	97
What is the national mortgage rate “tipping point”	10.5%	7.5%

Myth:  The increase in home prices, which is hyperlocal, will be the tipping point in making renting a home cheaper than buying, in most areas.

Fact: Actually, the biggest factor narrowing the gap between the cost of buying and the cost of renting is rising mortgage rates – which affect the entire country. In fact, the benefit of buying relative to renting shrank in nearly all of the 100 largest metros over the past year: only in Springfield, MA did the gap widen, from buying being 47% cheaper than renting last year to being 49% cheaper than renting today.

Nationally, rising mortgage rates account for about 8 points of the 10-point shift from buying being 45% cheaper than renting one year ago to being 35% cheaper now. The other 2 points are due to prices rising faster than rents. (How did we figure that out? If you used today’s prices and rents in the rent vs. buy calculation but used a 3.5% mortgage instead of a 4.8% mortgage, buying would be 43% cheaper than renting – 2 points less than last year.)

Because fluctuating mortgage rates can affect the rent versus buy math, we identified the mortgage rate “tipping point” at which renting becomes cheaper than buying, given current prices and rents. If rates keep rising, San Jose will tip first in favor of renting, at 5.2%. Already today, at 4.8%, buying is just 4% cheaper than renting in San Jose. The tipping point is below 6% in San Francisco and Honolulu as well, and below 8% in New York, Los Angeles, and seven other major metros.

Nationally, the mortgage rate tipping point is 10.5%, and it’s 20% or higher in Detroit, Gary, and Cleveland. Click here to download the full rent vs. buy cost considerations and mortgage rate tipping points for the 100 largest U.S. metros: (PDF) or (Excel).

Home Improvements Sellers Should Really Consider

Home Improvements Sellers Should Really Consider

An article in aol.com has outlined home improvements that are worthy of consideration by sellers looking to maximize profits. These home improvements can also decrease the time taken to sell the property.

According to the experts, it’s easy to make mistakes when considering upgrades to improve a property’s salability, and most people will upgrade their kitchen thinking they’ll recoup the cost during the sale. This might be true, but only if the rest of the house is in good repair. Apparently the typical return for a kitchen renovation is 78%, and this may be something that homeowners want to think twice about, considering how expensive a kitchen renovation can be. However if a kitchen renovation is completed alongside other upgrades and repairs than the seller is more likely to recover the cost, and may even make more money on the sale. This is provided to the seller has taken the time to research the local market, as experts point out that paying for costly upgrades such as granite countertops only makes sense if they are the norm in the neighborhood. Sometimes it might not be necessary to upgrade the whole kitchen, as replacing older and dated appliances can sometimes do the trick.

Anyone who is thinking of making home improvements before listing the property needs to decide how much can be accomplished, and this can all depends on how quickly they need to sell. Anyone who needs to list the property within a couple of weeks will obviously only be able to take on relatively small projects, while those with a couple of months to spare can attempt more ambitious renovations. One thing that experts always recommend is making sure the landscaping is perfect, and even simple things such as making sure the front door is freshly painted and the windows have just been cleaned can make a difference.

One real estate expert feels an area that is often overlooked is the garage, and that having a garage with a pristine floor that has been newly painted with epoxy can make a surprising difference to a sale. Another quick fix is simply to remove window screens and to thoroughly clean them, even before the home has been photographed as it can considerably brighten the overall appearance.

While renovations such as kitchens can run into thousands, others may cost only a few dollars, and painting a home is a quick fix to make it feel fresh and clean. Homeowners are always advised to choose neutral wall colors that help potential buyers visualize living there more easily.

Top 4 Questions Homebuyers Need Answered Before They Buy

Top 4 Questions Homebuyers Need Answered Before They Buy

Buying a house is the biggest investment most people will make in their lifetime, and the complex process can be intimidating to many homebuyers. Knowing the right questions to ask and receiving professional advice will help your clients make a sound investment for their future.

Whether they are buying their first home or moving across country, navigating everything from jargon to home buying basics can be scary and overwhelming.

Before your client begins the purchase process, make sure they have answers to these top homebuyer questions. Each is a critical component to making an educated and informed decision.

Top Homebuyer Questions

  1. Where do we want to live?

The first step is to help your buyer narrow down a location and style of home. They have probably already researched online to get a sense of pricing and area.

Help them determine what factors are most important when it comes to choosing a neighborhood such as schools, commute to work, shopping, entertainment and how quiet or peaceful the neighborhood is versus a hustling and bustling urban area.

Knowing the answers to these questions before they get in the car will save everyone time and frustration by eliminating developments and neighborhoods that are of little to no interest. If you are out viewing homes in a specific area, let your clients stop and talk to homeowners. They need to understand why others enjoy living in that area.

  2. How much money do we need to have saved?

The mortgage product that your client selects will assist in determining down payment requirements. This is why it is so important that they speak with a licensed mortgage representative to discuss their down payment and mortgage options prior to viewing homes.

However, there are additional costs associated with a purchase that they must be aware of:

§  Make sure they have enough money set aside for closing costs and other related expenses

§  They will need to prepare for the cost of a property assessment, lender appraisal and home inspection

§  Moving costs including the transfer of all utilities and services such as heat, water, TV

  3. How much would we like to spend monthly?

Unfortunately, many people bite off more than they can chew when purchasing a home because they look at the total purchase price instead of the monthly payments.

Keep in mind that what they qualify for isn’t always the same as what they can afford. A pre-approval letter is something you should get at the front-end to ensure you are looking within the right price range and your client is comfortable with their mortgage options.

A licensed mortgage loan officer can provide a total monthly payment including principal and interest, property taxes, homeowners insurance and monthly mortgage insurance if applicable.

You may also want to advise them that there may be additional expenses when purchasing a home, townhouse or condo:

§  Heating/Gas/Oil

§  Electric

§  Water

§  Homeowners Association Fee

§  Landscaping

§  Cable/TV

§  Sewer

  4. Why should I work with a buyer’s agent?

Choosing a real estate professional is one of the first decisions a buyer will make. It is also a very personal decision depending on the qualities most important to the buyer.

While traits such as honesty, integrity, knowledge and experience are all very important, it is also vital that your clients feel comfortable with the real estate professional they choose. Encourage potential clients to research before making a decision by looking at LinkedIn and other online profiles.

A buyer’s agent works as an advocate, providing guidance as well as open lines of communication. Explaining the purchase process and keeping the buyer informed along the way is a way to work together through the buying process.

Getting Rid of Your Private Mortgage Insurance

Getting Rid of Your Private Mortgage Insurance

You may think that after you pay closing costs and the real estate agent, the only expense left is your monthly mortgage and maybe some new paint. However, if you made a small down payment, you might also be paying for private mortgage insurance, or PMI.

How to Avoid PMI
In some ways, PMI is beneficial: Without it, lenders wouldn’t be able to lend to buyers who can’t make the traditional 20 percent down payment. On the other hand, PMI can be expensive, and it’s based on your credit score — the worse your score, the higher your PMI.

To avoid PMI payments in the first place:

§  Find a less expensive home. The less expensive the home, the lower the down payment. If you still can’t afford a 20 percent down payment, get as close as you can to help pay off PMI more quickly.

§  Take out an 80-10-10 mortgage. In this arrangement, the buyer agrees to a mortgage for 80 percent of the home value, makes a down payment of 10 percent and takes out a second loan for the remaining 10 percent. These transactions are also known as piggyback mortgages.

How to Remove PMI From Your Mortgage
If you already have PMI on your mortgage, there are a few ways to remove it. First, you need to understand your home’s loan-to-value ratio (LTV), the difference between the amount of your loan and your home’s value. It’s easy to calculate your LTV: Simply divide your loan amount by the value. For example, if you borrow $135,000 for a house valued at $150,000, your LTV would be 0.9, or 90 percent.

Your LTV changes over time, and once it reaches 80 percent or lower, the PMI is no longer a requirement. The easiest way to reach that point is to keep paying your mortgage as planned, but that can take several years. Making extra payments will help you get there sooner.

An increase in your home’s value could also help you get rid of your PMI more quickly, whether it’s due to remodeling improvements or rising home values in your area. Consider getting an appraisal of your property if either of these causes your home’s loan-to-value ratio to drop significantly (remember, in this case, a decrease is a good thing).

If your LTV is below 80 percent, ask your lender to cancel your PMI, making sure to follow their guidelines. If your lender doesn’t approve your PMI cancellation in a timely manner, follow up by sending written complaints that restate your request. Send the letters by certified mail, and keep copies so that you have evidence in case you need to take court action.

Automatic PMI Termination
Under the Homeowner’s Protection Act, your mortgage lender is legally required to cancel your PMI coverage once you pay down your mortgage to 78 percent of the principal, as long as you are up-to-date on your payments and do not have an FHA loan. This act generally applies to homes purchased after July 29, 1999, but there are provisions for mortgages obtained before that date. Check the details to see if the act applies to your loan.

Tasha Schroeder wrote this article.

Texas Children's Hospital Proposes Facility in The Woodlands

Texas Children’s Hospital proposes facility in The Woodlands 

Texas Children’s Hospital has proposed a new children’s health center that could open in The Woodlands in 2017. If approved, construction is scheduled to begin Jan. 31. 

The board of directors will vote on the building in November but already has approved the purchase of more than 22 acres next to St. Luke’s The Woodlands Hospital at Interstate 45 and Texas 242. Texas Children’s Hospital has owned 50 percent of the land since 2007 and purchased the remainder from St. Luke’s Sept. 10. 

Lisa Helfman, director of real estate services for Texas Children’s, said they will model the design and function of the facility after their campus in Katy. Having “taken a lot of lessons” from the Katy facility, Helfman said the hospital will build a larger emergency room in The Woodlands, with the project still “in the design phase."

We are focused on providing the services that The Woodlands community needs, and so that’s why we’re being very thoughtful about the process as we design the building,” she said. 

Texas Children’s already has a presence in The Woodlands, staffing St. Luke’s emergency room and managing the neonatal intensive care unit in addition to four pediatric practices. 

“We’ve been on the ground a long time there, so we can kind of gauge from the services we’re providing what the community needs,” she said. 

She said Texas Children’s is deciding whether to build its own neonatal intensive care unit and may continue to manage that of St. Luke’s. 

And while Helfman said there will not be a “formal partnership” between the two hospitals, “you can expect us to continue the relationship,” she said. “We’ve been partnering with them on a lot of initiatives in the past, so we continue to see them as a partnership.”

Understanding the Earnest Money Deposit

Understanding the Earnest Money Deposit

The earnest money deposit is an important part of the home-buying process. It tells the seller you’re a committed buyer and helps fund your down payment.

What Is Earnest Money?
Earnest money is a deposit on the house you want to buy. It shows sellers that you are earnest about buying their home.

Without earnest money, you could make offers on many homes, essentially taking them off the market until you decided which one you liked best. Sellers rarely accept offers without deposits.

Assuming that all goes well and you buy the house, the earnest money will go toward the down payment and closing costs. In many circumstances, you can get most of your deposit back if you discover something that you don’t like about the home.

How Much Should You Put Down in the Earnest Money Deposit?
The amount of the deposit varies. In a slow real estate market, $500 or $1,000 might be enough. When there is more demand for the house, the seller will require more — usually 1-3 percent of the offer.

In some markets demand is so great that the seller will look for a higher deposit before accepting your offer over someone else’s. You can sometimes win a bid if you give the seller a large deposit. In fact, the seller may be willing to come down in price a little if you make a bigger deposit. If your deposit is extremely large, your mortgage lender may want to verify the source of the funds. As long as you can show you’ve had the money for at least 60 days, it won’t be a problem.

When Do You Pay the Earnest Money, and Who Holds It?
You hand over earnest money after your offer on a home has been accepted and you have signed the purchase agreement. The title company often holds the deposit. In some states, the real estate agent holds the deposit. Always check the credentials of the firm or broker taking the deposit, and verify that the funds will be held in escrow until the purchase goes through.

Never give the earnest money to the seller. It could be impossible to get it back if something goes wrong.

Can You Get Your Earnest Money Back?
If the deal falls through, a small cancellation fee is usually taken out of the deposit, but the remainder remains in escrow. Whoever holds the deposit determines whether you should get the money back under the terms of the purchase agreement.

Make sure that the purchase agreement covers how a refund is handled. Eager buyers sometimes give up their rights. But keep in mind that even if you are pre-approved for a mortgage loan, you can be declined when you apply for one. Standard contracts allow you to recover your earnest money deposit in this case. You can also usually get your money back if you find problems with the property.

Laura Sherman wrote this article.