Date Archives: July 2015

Coldwell Banker American Homes Blog Home

Subscribe and receive email notifications of new blog posts.




rss logo RSS Feed
Area Information | 26 Posts
BPT | 10 Posts
Buying | 6 Posts
Homeowners | 17 Posts
Real Estate Blogs | 319 Posts
RREIN | 62 Posts
Uncategorized | 148 Posts
Buying a Home | Home Purchase Guidelines | Long Island Homes and Property | Real Estate for Long Island | Energy Efficient Homes | Homeowner Tax Credits | Tax Credits for Home Energy Efficiency | Adjustable Rate Mortgages | Mortgages for the Long Island real estate market | The Right Mortgage for the Right Home Buyer | Real Estate Question of the Day! | Real Estate - scams and mortgages | What you need to know about real estate | Home Purchase Savings | Interest rates offer greatest leverage | Tax credit vs mortgage interest rates | Assisted Living | VA Special Pension | home loans | Home mortgage rates | Another Interest Rate Drop | Mortgage Interest Rates | Defending homeownership | Is now the time to buy a home? | Real Estate - still a great investment | Long Island condo & co-op | Long Island Homes for sale | Long Island Properties | Negotiating house purchase price | New construction on Long Island | Real Estate transfer fees | buy your home through a short sale purchase | selling short with the banks approval | Short sale home purchase | $2000 home buyer grant | New York State home buying grants | home list price vs. home sales price | negotiate a new home sales price | New York State STAR tax exemption | STAR tax exemption for New York homeowners | Buyer Brokerage | Real Estate Representation | Seller Agency | Tips for improving your credit score | Home and property appraisals | Homeowner Tax Advantages | Home Purchase Track | Owning a home vs. Renting | 55+ Adult Community | Senior housing | The Season's at East Meadow | co-op | Condo's | Homes | land for sale | Why Now is a Great Time to Buy a Home on Long Island | Homeownership | Open House weekend | home buying process | mortgage prequalification | Real Estate Investment Tips | Tips to Flip your real estate | Home Shopping Checklist | Look for a house with a checklist | ips to purchasing a short sale home | Short sales: How to purchase | Cut energy costs for your home | home energy efficiency | Loan application mistakes | mortgage loans | mortgage home loans | What home loan is right for you? | house hunting | Hunting for a home | Common Home Defects | What to look for when buying a home | first time home buyers | The 1st time home buyers guide | mobile based home search | Mobile phone users - coupons | smart phone applications | Housing Market Recovery Bright Spots | Natianal Housing Market Report | Home Closing - contract to closing | Home purchase timeline | 203k home mortgage program | Home Improvement Funding | Myths of the real estate market | The Home Buying Process | narrow down your home search | The Best location for your home purchase | buying a home? protect your credit! | credit protection | Home value pitfalls | home closing steps to take | New home closing | Home Styles | Popular Homes | best interest rates | credit scores | Create Energy within Your Home with Feng Shui | Feng Shui within your home | consumer confidence | home buyers more confident in housing market | Real Estate market impact | Rent verse Buy | Renters Outspend Owners on Housing | Benefits of home buying | Winter shopping for homes | Consumers confidence in home ownership | Homeownership attitudes | Real estate tax advantages & tips | Tax tips for homeowners | job opportunity | real estate agent | real estate career | rental agent | 1st time home buyer tips | priorities for home buyers | make moving fun for family | Moving for the family | Buy a foreclosure | REO purchase tips | Tips to buying a foreclosure property | Use a real estate agent to buy a home | Use a real estate agent to sell a home | Why use a real estate agent | Home Buying steps | Home Buying tips | Stepr to take prior to buying a home | home loan good faith estimate | Tips to your home loan mortgage | FICO Scores | How FICO scores are calculated | Your FICO score | Invest in a home | tax refund - invest it in your home purchase | VA Loan | The Home Buyers Wish List | Home buying expectations | real estate market report | Bidding on real estate properties | purchase offers for your home | home mortgage | downsizing your home | moving to a smaller house | Jumbo Loans for Home Purchase | Mortgage Money Lesson | newlywed home purchasing tips | The perfect wedding gift... a new home | Avoid these home buying mistakes | common mistakes when buying a home | Good News for Housing | Home Price Index | Bank fees for the homeowner | understanding banks and their fees | Home Inspections for your new home purchase | What to know about home inspections | Fire safety for your home | Is your home fire safe? | Home Mortgage programs | LTV | Mortgage loan to value | Mortgage relief for disaster challenged areas | Location | Property location - real estate | buying a short sale property | short sale tips | buying a home - best investment? | When is the best time to buy? | New Years resolutions | Resolutions: a Reality for Realty's | Get a mortgage after foreclosure | mortgage financing - after foreclosure | Is it a good time to buy a home? | What age is old enough to buy a home? | Buy a short sale property | Short Sale real estate properties | Home property tax deductions | real estate tax deductions | Real Estate License School | Apartment Rentals | House Rentals | Real Estate Rental Agent | House Hunting Tips | Simple house hunting tips & ideas | Mortgage advice - current trends | mortgaging & refinancing in 2013 | Good credit score = best equal rates | How to build up your credit score | lease - option to buy | Rent with option to buy | Avoid Home Improvement Blunders | Home improvements ideas for the property owner | Home Buyers - What do you really want? | Needs & wants of home buyers | mortgage loans for new home construction | New construction home loans | Home Buyers - Price & proximity to work | Key Concerns for the home buyer | Impressive mortgage applications | Keys to getting your mortgage approved | Home buying mistakes to avoid | Home purchasing blunders to avoid | New homes vs older homes | to buy or not to buy a home | pet friendly rentals | Pets or no pets - apartment rentals | tips for home purchasers | Flipping houses | home flpipping 101 | spec houses | home buyer how to's | how to be a better home buyer | Mortgage amortization | A happy home | What makes you really happy? | Low housing inventory | Low inventory housing market | Home prices on the rise | Rising property values | Home buyer tips to open houses | Open House etiquette | Winning a home purchase bidding war | Home mortgage rate tips | mortgage tips for the new home owner | Home Equity Line versus 2nd Mortgage | buy a new home or expand your current home | Home improvements vs. new home purchse | Mortgage Rate Lock | Residential home mortgage rates | Improve your economic profile for home mortgage | Personal Finance | Costly problems for new home buyers | New home buyers avoid costly problems | Handy man special | The home fixer-upper | How to refinance | Refinance - without perfect credit | Debt to Income | Tackling Debt | Seasonal real estate trends | The fall season housing market | Factor in home repairs in your mortgage payment | Home repairs for new home purchasers | Home sellers negotiation techniques | negotiations for home buyers & sellers | The home buying process - stress free | The process of buying a home | Recently Read | Saved for Later | Great Neck | Massapequa | Huntington | Ronkonkoma | Brooklyn | East Meadow | Coldwell Banker American Homes | Local Attractions | Home Improvement | Interior Design | Queens | Fresh Meadows | Long Beach | Local Businesses | Farmingdale | Home selling | Suffolk County | Nassau County | Wantagh
July
31

If you've recently purchased a new home, or if you're about to, you've likely given a lot of thought to all of the responsibilities that come with it: mortgages, insurance and - sooner or later - renovations and repairs. While the responsibilities can seem overwhelming, owning a home is exciting and rewarding too. You just need to know what to do and what not to do to avoid unexpected expenses.     New Homeowner Do's: There are a few home maintenance projects that should top the to-do list of every new homeowner. According to a recent article, these include:
  1. Checking your HVAC system: If your HVAC system wasn't serviced before you purchased the house, inspect air filters and other components for anything in need of repair or replacement.
  2. Inspecting gutters and downspouts: Make sure that your gutters or downspouts have been cleared of debris. If they're clogged, moisture could build up and leak over into your roofing or foundation - a predicament that will most likely require costly repairs. Also look for cracks or holes in the system; these could cause the same issues.
  3. Look for leaks: Air and water leaks - whether in your insulation, your pipes or your walls - can lead to a number of issues in your home. They're the perfect entry for pests, and they also offer a prime opportunity for air to seep out, which can force your HVAC system into overdrive. Fix leaks immediately with weatherproofing, caulking or more insulation material.
  4. Assess insulation: Attic and basement insulation are crucial to protecting your roof and foundation from moisture, pests and interior temperature fluctuations. If there are holes, missing pieces or other issues with your insulation, you will need to have it augmented or replaced. You can install some kinds of insulation yourself; others require the help of a professional.
  5. Upgrade appliances: Depending on the age of your appliances, now might be a good time to upgrade to newer, more energy-efficient models. Replacing one or more of your appliances will pay back in utility bill savings, whether you replace your washer and dryer, dishwasher, microwave or refrigerator.
  New Homeowner Dont's: There are also some new homeowner mistakes you should avoid. Making these mistakes could lead to the need for costly repairs and renovations down the road:
  1. No routine care: While the house might have passed a home inspection, you need to keep it up to snuff; if you don't, you could find yourself paying for major repairs within a year. Routine care includes seasonal maintenance like roof inspection and repair, gutter cleaning, deck repair and cleaning, and so forth. Ignoring these areas or waiting another year before attending to them could lead to more trouble - and money spent - than necessary. Don't wait.
  2. Renovating too soon: Although you may have considered a kitchen or bathroom remodel going into the purchase of your home, it's best to wait at least one year before you renovate a room. You need to get to know the house and confirm that there aren't more crucial repairs that need your budget and attention first. Otherwise, you could get halfway through your remodel only to find that your foundation is in serious disrepair - and that you have no money to fix it.
  3. Overspending: As a new homeowner, you have a lot of costs to factor into your budget, including mortgage payments and an increased utility bill. If you invest in remodeling projects or landscaping in the first year - without giving yourself some time to get used to your new budget - you could end up in the red. Spend a year getting to know your new home budget, then think about spending money on improvements.
  4. Dreaming too big: If you don't have the money to remodel in the first year but want to do it anyway, you might try to DIY. We've all watched the DIYNetwork, HGTV - programs that make it all look simple. But we have to be realistic. These DIYers are experts who have worked in the field for years. Most homeowners have no prior experience, and our projects generally show our lack of expertise. If you attempt a DIY remodel, you will likely spend thousands to have a professional redo your work.
  5. Taking the lowball offer: When you start hiring contractors for home projects, you're going to run into those who quote far below the average bid. While you might be tempted to hire these pros, DON'T. As the saying goes: you get what you pay for. More than likely, you'll end up hiring another pro to fix a shoddy job.
  Conclusion Being a homeowner comes with a lot of responsibility and a lot of opportunity - some of it exciting and some not so much. It's important to keep up on routine maintenance, as well as be prepared for everything that may come your way before you invest in major home improvements. Take this quiz to see whether you're ready to be a new homeowner or need a little more time to prepare.   Sourece: blog.century21.com
July
24

Though some homebuyers who bought 10 years ago have not broke even on their investment, buyers today can break even in two years or less, according to a recent Zillow® analysis. Nationally, homebuyers today can break even in an average of 1.9 years.   reward   "It's very clear that when it comes to maximizing gains from an investment in real estate, timing really does matter a great deal," says Zillow Chief Economist Dr. Stan Humphries. "However, timing isn't everything, and trying to time the market perfectly is incredibly difficult, even for professionals.   "There are any number of factors to consider when purchasing a home, only one of which is the potential for financial gain," Humphries adds. "Potential buyers should always place their personal needs and their family's needs first, and make the decision to buy only when they are ready to make a significant investment of both their time and money. Just because the math might say to buy or rent in a given area, personal preferences and situations vary greatly, and there is no one answer that is right for everybody."   Source: Zillow Published with permission from RISMedia.
July
17

If you are on the fence about buying a home, consider this: waiting to buy could cost thousands in accumulated wealth. According to a recent realtor.com® report, the financial penalties of delaying or forgoing on a home purchase have become very steep – the average buyer is estimated to gain $217,726 (in today's dollars) in wealth over a 30-year period.   dontwait   Although some markets are more buyer-friendly than others, national data shows homeowners see significant financial benefits as compared to lifetime renters. In nearly 90 percent of metro areas, buying a home produces a financial benefit of at least $100,000 over 30 years.   "This analysis looks solely at the financial reasons to buy a home, based on assumptions about rising mortgage rates and changes in home values," realtor.com® Chief Economist Jonathan Smoke says. "It's important to remember that a home purchase decision is deeply personal. Potential buyers need to consider factors such as upcoming life events, job security and potential relocation, in addition to financial benefits, because they too can have a significant impact on ownership."   Source: realtor.com® Published with permission from RISMedia.
July
10

Mortgage rates recently dropped in response to global uncertainty, helping to keep buyer activity strong toward the close of the homebuying season, according to Freddie Mac's Primary Mortgage Market Survey® (PMMS®).   greece   The results of the survey found the 30-year fixed-rate mortgage (FRM) averaging 4.04 percent, and the 15-year FRM averaging 3.20 percent. The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.93 percent. The 1-year Treasury-indexed ARM averaged 2.50 percent.   "Yields on Treasury securities declined this week in response to investor concerns about events in Greece and China," explains Freddie Mac Chief Economist Sean Becketti. "Mortgage rates fell as well, although not by as much as government bond yields.   "Overseas volatility is likely to persist for some time, providing some restraint on potential U.S. rate increases. In addition, the minutes of the June meeting of the Federal Open Market Committee suggest the Federal Reserve will proceed cautiously–monitoring events both overseas and in the U.S. to ascertain the appropriate moment to begin raising short-term interest rates. As a result, mortgage rates may remain in the neighborhood of 4 percent for a while."   Source: Freddie Mac Published with permission from RISMedia.
July
3

Your credit score has a critical impact on your housing options, and healthy credit is essential to buying a home or renting one. "An important step to finding a home, whether you're renting or buying, is ensuring that you have a good credit history," says Frank Keating, president and CEO of the American Bankers Association (ABA). "A strong credit score can open doors to better homes and lower mortgage rates."   buyercredit   To build a good credit history, the ABA recommends adopting these habits.   1. Request a copy of your credit report–and make sure it is correct. Your credit report illustrates your credit performance, and it needs to be accurate so that you can apply for other loans, such as a mortgage. Everyone is entitled to receive a free copy of his or her credit report annually from each of the three credit reporting agencies, but you must go through the Federal Trade Commission's website at https://ift.tt/o2j1vQ or call 1-877-322-82281-877-322-8228 FREE. Note that you may have to pay for the numerical score itself.   2. Set up automatic bill pay. Payment history makes up 32 percent of your VantageScore credit score and 35 percent of your FICO credit score. The more you pay your bills on time, the better your score. Avoid missed payments by setting as many of your bills to automatic pay as possible.   3. Keep balances low on credit cards and 'revolving credit.' Racking up big balances can hurt your scores, regardless of whether you pay your bills in full each month. You often can increase your scores by limiting your charges to 30 percent or less of a card's limit.   4. Apply for and open new credit accounts only as needed. Keep this in mind the next time a retailer offers you 10 percent off if you open an account. If you need a new line of credit, don't jump at the first appealing offer; compare rates and fees offered through mail solicitation, on the Internet or at your local bank.   5. Don't close old paid off accounts. According to FICO, closing accounts can never help your score and can in fact damage it.   6. Talk to credit counselors if you're in trouble. Using legitimate, non-profit credit counseling can help you manage your debt and won't hurt your credit score. For more information on debt management, contact the National Foundation for Consumer Credit by visiting www.NFCC.org.   Source: ABA.com Published with permission from RISMedia.

Login to My Homefinder

Login to My Homefinder