Ocean City MD & DE Coastal Homes --- 4 Reasons to DO Buy a Home NOW

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Buying a House? 4 Reasons to DO IT NOW Posted: 28 Jul 2014 04:00 AM PDT Here are four great reasons to consider buying a home today, instead of waiting. 1. Prices Will Continue to Rise The Home Price Expectation Survey polls a distinguished panel of over 100 economists, investment strategists, and housing market analysts. Their most recent report projects appreciation in home values over the next five years to be between 30.8% (most optimistic) and 9.4% (most pessimistic). The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense. 2. Mortgage Interest Rates Are Projected to Increase Although the Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage are currently around 4.2%, Freddie Mac is projecting that rates will increase to 5.2% by this time next year. An increase in rates will impact YOUR monthly mortgage payment. Your housing expense will be more a year from now if a mortgage is necessary to purchase your next home. 3. Either Way, You are Paying a Mortgage As a research paper from the Joint Center for Housing Studies at Harvard Universityexplains: “Households must consume housing whether they own or rent. Not even accounting for more favorable tax treatment of owning, homeowners pay debt service to pay down their own principal while households that rent pay down the principal of a landlord plus a rate of return. That’s yet another reason owning often does—as Americans intuit—end up making more financial sense than renting.” 4. It’s Time to Move On with Your Life The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise. But, what if they weren’t? Would you wait? Look at the actual reason you are buying and decide whether it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer, or you just want to have control over renovations, maybe it is time to buy. If the right thing for you and your family is to purchase a home this year, buying sooner rather than later could lead to substantial savings.

Understanding and Combatting the Rate Lock-in Threat

Understanding and Combatting the Rate Lock-in Threat

Dirtiest Spot in a Home --- where do you think it is?

The Dirtiest Spot in a Home Isn’t Where You Think

Posted in Helpful Tools, by Melissa Tracey on June 6, 2011

By Melissa Dittmann Tracey, REALTOR® Magazine

A new study reveals that the kitchen is the “germiest” place in a home–not the bathroom, as most people would assume. That’s right, the place where you are cooking and eating food is where levels of coliform bacteria (a bacteria that includes Salmonella and E.coli) and Staph bacteria is the most prevalent, even more so than items in a bathroom.

A study by NSF International, a public health and safety organization, uncovers the top 10 germ hot-spots and dangers in a home based on a swab analysis of 30 everyday household items in 22 different homes.

You might want to take a double-look at that kitchen sponge you use to clean dishes and countertops. That actually was the leading culprit of germs in the kitchen.

“Sponges pick up bacteria during the cleaning process and are typically not properly–or regularly–sanitized before their next use,” says Rob Donofrio, director of Microbiology at NSF International and lead researcher for the study. “Additionally, sponges are often wet and left in damp areas in or near the sink, providing optimal conditions for germ growth. They also have many nooks and crannies which can be great places for germs to multiply.”

The second overall germiest place in a home is …. the bathroom, particularly the toothbrush holder. Why the toothbrush holder and, say, not the toilet?

“The high bacteria levels on and in the toothbrush holder are likely attributed to two causes. First, toothbrush holders are typically situated near the toilet, especially in smaller bathrooms. Flushing of the toilet causes aerosols, containing fecal bacteria, to land on items near the toilet, thereby potentially contaminating the holder,” Donofrio says. “Additionally, toothbrush holders often are neglected in the cleaning process, providing an ideal breeding ground for germs. Toothbrush holders should be regularly cleaned in the dishwasher.”

Top 10 Germiest Places in a Home

The following are the germiest items in the house, ranked from highest to lowest in germ count:

1. Dish sponge/rag

2. Kitchen sink

3. Toothbrush holder

4. Pet bowl

5. Coffee maker reservoir

6. Bathroom faucet handle

7. Pet toy

8. Kitchen countertop

9. Stove knobs

10. Cutting board

Time to get scrubbing! To get tips on how to keep household items and surfaces clean, visit NSF’s International Germs in the Home section.

Selling Your Home? 5 Reasons to Do It NOW!

Selling Your House? 5 Reasons to Do It Now!

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Selling Your House? 5 Reasons to Do It Now! Posted: 21 Jul 2014 04:00 AM PDT Many sellers are still hesitant about putting their house up for sale. Where are prices headed? Where are interest rates headed? Can buyers qualify for a mortgage?  These are all valid questions. However, there are several reasons to sell your home sooner rather than later. Here are five of those reasons. [Buying or Selling a home at the Ocean City MD or DE Coastal Beach Resorts -- good inventory, good priicing, plan ahead for investment income or a retirement property.  Susan Antigone - ShoreFun4U with Long & Foster. 1. Demand is Strong There is currently a pent-up demand of purchasers as many home buyers pushed off their search this past winter & early spring because of extreme weather. According to the National Association of Realtors (NAR), the number of buyers in the market, which feel off dramatically in December, January and February, has begun to increase again over the last few months. These buyers are ready, willing and able to buy…and are in the market right now! 2. There Is Less Competition Now Housing supply is still under the historical number of 6 months’ supply. This means that, in many markets, there are not enough homes for sale to satisfy the number of buyers in that market. This is good news for home prices. However, additional inventory is about to come to market. There is a pent-up desire for many homeowners to move as they were unable to sell over the last few years because of a negative equity situation. Homeowners are now seeing a return to positive equity as prices increased over the last eighteen months. Many of these homes will be coming to the market in the near future. Also, new construction of single-family homes is again beginning to increase. A recent study by Harris Poll revealed that 41% of buyers would prefer to buy a new home while only 21% prefer an existing home (38% had no preference). The choices buyers have will continue to increase over the next few months. Don’t wait until all this other inventory of homes comes to market before you sell. 3. The Process Will Be Quicker One of the biggest challenges of the 2014 housing market has been the length of time it takes from contract to closing. Banks are requiring more and more paperwork before approving a mortgage. As the market heats up, banks will be inundated with loan inquiries causing closing timelines to lengthen.  Selling now will make the process quicker and simpler. 4. There Will Never Be a Better Time to Move-Up If you are moving up to a larger, more expensive home, consider doing it now. Prices are projected to appreciate by over 19% from now to 2018. If you are moving to a higher priced home, it will wind-up costing you more in raw dollars (both in down payment and mortgage payment) if you wait. You can also lock-in your 30 year housing expense with an interest rate in the low 4’s right now. Rates are projected to be over 5% by the end of next year. 5. It’s Time to Move On with Your Life Look at the reason you decided to sell in the first place and determine whether it is worth waiting. Is money more important than being with family? Is money more important than your health? Is money more important than having the freedom to go on with your life the way you think you should? Only you know the answers to the questions above. You have the power to take back control of the situation by putting your home on the market and pricing it so it sells. Perhaps, the time has come for you and your family to move on and start living the life you desire. That is what is truly important.

Majority of Buyers Unaware of True Costs of Home Ownership

Majority of Buyers Unaware of True Costs of Home Ownership

What Will Get Home Buyers Moving? I'll help you do it all with L&F Home Services.

What will motivate you to search out a home at the Ocean City MD or DE Coastal Beach areas?  Sun is Fun!





What Will Get Home Buyers Moving?

Buying A Home: What Does Your Job History Reflect?

What Mortgage Lenders Look for in Your Job History

Credit.comJul 16th 2014 12:41PM

Updated Jul 16th 2014 12:55PM

08285040

ShutterstockIf your job, income or pay structure has changed recently, you may face a challenge in getting a mortgage.

By Scott Sheldon

Did you recently change jobs or receive a promotion? Despite what you might have heard, it is still possible to qualify for a mortgage to buy or refinance a home using your new income. The lending atmosphere is rife with misconceptions about job gaps, job changes and occupational changes within the course of an employment time frame. You can get a mortgage if you switched jobs or even changed industries, you just have to approach it the right way to seal the deal.

When determining your ability to pay (and therefore determining how much house you can afford), a lender will calculate your average income based on your pay from the past 24 months. It's pretty

Even real estate professionals will tell you not to change jobs before applying for a home loan. While that very well may be the case for most situations, it is not necessarily so black-and-white.

straightforward if you've had the same job and same income and pay structure, but if any of those things changed in the past two years -- or will change soon, you may face challenges when trying to get a mortgage.

In the past, lenders were ready to strike down loan applications in which there was a job or an industry change. Even real estate professionals will tell you not to change jobs before applying for a home loan. While that very well may be the case for most situations, it is not necessarily so black-and-white.

If you have had a job change, no matter what, a lender is going to need the following things from you -- and your employer -- in order to close on a mortgage: an offer letter, a role change letter if you have a title change and commensurate compensation package change, and the most recent pay stub and verification of employment.

How Lenders View Hourly Employees -- Hourly employees are under the tightest microscope when it comes to getting a mortgage. Why? An hourly employee may have a set full-time schedule, which is ideal for lending purposes. However, if you work slightly less than a full-time schedule, with hours that fluctuate from week to week, this can muddy the waters.

The income gets averaged as long as you've been an hourly employee -- even if you're making more money now on a per-hour basis. That's right, if you were making $40 an hour, and now you earn $50 per hour, the averaged income during the past 24 months – including the lower wage -- would apply. So what can you do to get the higher hourly rate factored in to your ability-to-pay calculation?

Here's what you'll need from your employer: An offer letter, a current pay sub and a detailed description of the compensation structure with a new employer. These items could get you an exception due to relocation or an alternative circumstance. In either capacity, a most recent verification of employment can bridge the gap between how many hours worked in the year to date, supporting the new federal ability-to-repay requirements.

How Lenders View Salaried Employees -- Lenders love salaried employees the most because a set salary streamlines the income calculation in the qualifying process. If you're changing from one salaried role to another salaried role, despite a job gap, this should be no problem for qualifying for a mortgage so long as you can explain any gaps in the most recent 24 months.

Each job you've held in the past 24 months -- even if you've held multiple jobs -- all have to be detailed and itemized with dates so there is no gap in employment. If there is a gap in employment, the lender will need a written explanation detailing the transition. If you have changed jobs from one salaried role to another salaried role, with a different title and a different position -- even within a different industry -- that still should be fine for your lender as long as you are paid the same way -- a flat salaried income.

What If You're Salaried With Overtime, Commissions or Bonuses? -- Have a new job? Or a new salaried role with big commissions, overtime or bonuses? If you do not have a history of this additional add-on income, it cannot be counted for use when qualifying for a new loan.

Here's an example of a transition that a lender will find acceptable when calculating average income: A police officer has earned overtime plus salary for the past 24 months, and decides to change jobs to become firefighter with overtime potential. In this case, the overtime will be included in the 24-month average. The overtime, bonuses or commissions must be consistent during that time period for that type of income to be included in the average. A borrower can't have a history of overtime, then change jobs and now have add-on commission income and expect the lender to include the add-on income in the 24-month average when there is no prior history of it.

Changing From Salary to Hourly Pay -- If you are moving from a salary role to an hourly role, the lender is going to have to use your hourly income supported with a pay stub and verification of employment. As long as the change is within the same field and your title and role are similar, you should be in the clear.

Future Promotion or Raise on Deck -- Congratulations, you've been offered a promotion! But first: Has it actually occurred yet? If not, you will be hard-pressed to get the lender to use the projected income, even if it is guaranteed.

If you cannot provide a pay stub with year-to-date income (usually a 30-day pay stub depending on your specific lender requirement), along with a letter detailing the change, you won't get approved for the loan. Let's say, for example, you are searching for the house and you know in the next four months your income is going to increase to $6,000 per month because you'll have a new role within your company. In order for that $6,000 per month income to be used in the calculation, you'd have to get the details of the raise, including the role change letter and at least one pay stub.

So if you are thinking about getting a mortgage, even if it is further down the road, consider opening a dialogue with a lender now so you can be guided through any income bumps the past or future may hold. It is especially critical for homebuyers to get pre-approved with a lender upfront prior to house-hunting. This process includes allowing a lender to review your credit, debt, income and assets to assess your ability to qualify.

This is also a good time to start looking over your credit reports and checking your credit scores so you can address any problems in advance of applying for a mortgage. (You can check your credit reports for free once a year, and there are services that allow you to check your credit scores for free, like Credit.com.)

Summer Must-Dos to Add to Your Delaware Bucket List

Summer Must-Dos to Add to Your Delaware Bucket List

Why did Sue choose the agent who helped her move?

People don't care how much you know UNTIL they know how much you care.

Sue's son asked. "How did you make your decision? Why did you choose him?"

Sue dug into her purse and drew out the list of notes she had made while interviewing her agent:

As her daughters looked at the list, Sue remarked "I felt 'OK' with the other agents. They were undoubtedly good at their jobs. But I wanted someone who was good for ME too."

And thus ends the happy story of Sue, a senior whose outlook on doing business mirrors that of most of her generation, nearly all of whom value a firm handshake and "good vibes" as much as they do hard numbers and competency.

Bottom Line

As real estate professionals serving seniors, it's important that we understand that what makes for a great partnership, truly is in the eyes of our clients.

4 next-level open house tips for Realtors | Inman News

4 next-level open house tips for Realtors | Inman News



Make your Open House even better with these great tips.

Top 10 tips every renter should know

Homes for Sale or Rent in Ocean City MD and the DE Beach Resorts are affordable and can be waterfront or inland.   Choose the location, style, and price range to fit your family's budget.  Start out renting and take a tour of the available homes through Long & Foster Real Estate.  Susan Antigone-ShoreFun4U.



Top 10 tips every renter should know : WeAreSanpete.com

What Does a Real Estate Agent Do Every Day? [Infographic]

What Does a Real Estate Agent Do Every Day? [Infographic]

7 Things Home Buyers Love But Sellers Don't List

"7 Things Home Buyers Love But Sellers Don't List"

USA Today (06/21/14) ; Nelson, Tara-Nicholle

Sellers, particularly those with normal homes in ordinary neighborhoods, often fail to stress selling points in their listings that first-time buyers love. While the sellers may have grown out of their home, first-time buyers will compare it to their rentals; therefore, the listing should highlight 1.  extra closets, pantries, and other storage. 

2. They also should emphasize built-in closets, kitchen or garage organizer systems,                 3. bookshelves, and other items that will appeal to first-time buyers seeking a clutter-free lifestyle. 

Other amenities important to buyers include proximity to 

1.  amenities, attractions, and major employers or universities; 

2.  senior-friendly features that allow for aging in place, such as stair-free entrances, single-story layouts, and 

3.  low-maintenance landscaping; 

4.  "mother-in-law" units that provide space for aging relatives;

5.   energy-efficient features that can save buyers money; 

6.  other green lifestyle features, like organic kitchen gardens or backyard compost bins; and   7.  natural, chemical-free, and hypoallergenic home maintenance, which is especially important for buyers with physical or psychological sensitivities to common household chemicals.

Beach House Motherinlaw suite

Garbage Disposal Smell - How to Cure and Prevent Foul Odors - Bob Vila

Garbage Disposal Smell - How to Cure and Prevent Foul Odors - Bob Vila

Pending home sales surge on growing inventory, lower mortgage rates | Inman News

Pending home sales surge on growing inventory, lower mortgage rates | Inman News