Colors of 2018 - Is Yours A Top Pick

Painting Project in the Works? Consider the Colors of 2018

When it comes time to refreshing our walls with a new coat of color, we all have our favorite hues. But it’s always worth taking a look at the colors the experts choose as trending shades for the year ahead. The editors at remodeling.com compiled the 2018 picks from the top paint companies. So before you spread the drop cloth and don your coveralls, consider whether any of the following fashion-forward colors will work in your home:

The Green Hour: This blue-green with a healthy wash of gray from Dunn-Edwards can pass as a neutral shade, but also lends a moody or dramatic look to a room. If you’re looking for something light and airy, this isn’t it.

Black Magic: This choice from Olympic Paint is a shade of black that offers striking contrast when used for trim and accent furniture. You can also consider painting one or two walls in this color, depending on the size and purpose of the room in question.

In the Moment: Another blue-green hue, this one comes from Behr, and offers a softer, more pastel option. This versatile shade would work equally well in a bedroom, kitchen or living room—and is a nice gender-neutral option for a baby’s room.

Deep Onyx: This shade from Glidden is another twist on black, offering a classic, timeless approach, just like “a little black dress,” as the firm’s marketing department aptly describes it.

Caliente: Just like the name implies, this fiery red from Benjamin Moore will quickly heat up a room. It's perfect for a large dining room or any room that can handle a bright pop of color.

Oceanside: Yet one more take on a blue-green, this color from Sherwin-Williams is very deep and intense, just like its namesake.

If you’d like more information about homeownership, please contact me.

Now is the Best Time to Sell Your Home

6 Reasons Why You Should List Your Home During the Holidays

Traditional real estate wisdom may be telling you to hold off selling your home until after the holidays, but there are plenty of good reasons to list your home right now. Consider the following:

• People who are looking for a home during the holiday season are most likely pretty serious about making a move. In fact, they may be in a bit of hurry. Putting your home on the market now might result in a faster sale at a higher price point.
• Between family gatherings and holiday parties, you’ve probably got your home in bright and shiny, tip-top shape for entertaining. What better time to show off your home to prospective buyers, too?
• In most areas of the country, yard maintenance decreases during the wintry holiday months. While you may have to blow a few leaves and clear away some snow from walkways, you won’t have to worry about keeping the lawn mowed, the garden beds weeded and the flowers blooming as you would if listing your home in the spring and summer.
• The end of the year is usually a slower time for real estate professionals, so you will get lots of attention from your agent if you decide to list your home during the holiday season.
• You will also have less competition in terms of other homes on the market, allowing your home to stand out more to prospective buyers.
• You can stage your home to make an emotional connection to the holidays. Work with your real estate agent to tastefully decorate so that prospective buyers envision themselves hosting loving family celebrations in your home during the holidays. Stay away from overtly religious decorations and stick with decorations like small white lights, natural evergreens and a few shimmering metallics. An evergreen- or cranberry-scented candle will also emphasize that home-for-the-holidays feel. 

If you need more real estate information, feel free to contact me.

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Get Ready Now IF You'll Be Buying A Home in the Next Year

OCTOBER 13, 2017

By Novelda L. Sommers, Marketing Content Manager, The Long & Foster Companies.

If you’re already looking ahead to 2018 and planning to make it the year you buy a home, now is the time to start getting your financial house in order.

By giving yourself plenty of time to address any factors that could be dragging down your credit score, you can save thousands of dollars in interest over the life of your mortgage. Having stellar credit also gives you a better chance at sailing through the loan process and getting your offer accepted in a housing market that’s expected to continue to favor sellers.

Prosperity Home Mortgage offers tips for prospective homebuyers who are beginning the process of applying for a home loan. The company also makes mortgage consultants available, who will walk clients through the sometimes-complicated process of getting a mortgage.

At the outset, these are some measures you can take to make sure your credit is in good shape as you embark on the journey to homeownership:

See what’s in your credit files. Three major credit bureaus, Experian, Equifax and TransUnion, maintain detailed reports on our financial lives, and we’re entitled by law to see each one of those for free once every 12 months. You can access them through AnnualCreditReport.com. Don’t be fooled by look-alike sites. You can also get to the site through links on the government’s Federal Trade Commission or Consumer Financial Protection Bureau (CFPB) websites. Your credit report has a lot of information about you, such as previous addresses, loans you hold or have paid off, open lines of credit, bankruptcies, liens and judgements. It’s important to make sure all of that information is correct. One in five credit reports contain errors, and correcting them takes time, so don’t wait to check.

Dispute any erroneous information with the credit reporting company and the creditor who made the report to them. Find out more about what to include in your dispute documents at the CFPB’s site. The site has instructions, template letters and guides for how to go about this.

Find out your credit score. Check your bank and any credit card companies you use to see whether they offer a free FICO score or other credit score. You might need to pay for a one-time score from one of the credit bureaus or myFICO.com, just steel yourself for sales pitches for monthly credit monitoring you might not want or need. Scores usually range from 300-850, and the higher the score, the easier it is to qualify for a loan and get a lower interest rate. A great place to be is in the high 700s and up, but a lower score won’t necessarily keep you from getting a mortgage. You just might have to pay more for it, because a lower score places you in a category of borrower that’s at higher risk of defaulting.

What goes into a credit score? Commonly, it’s:

• 35 percent your history of paying accounts on time.
• 30 percent debt-to-credit ratio (how maxed out you are).
• 15 percent length of credit history.
• 10 percent credit mix.
• 10 percent whether you have opened accounts recently.

If you’re trying to bring your score up, it’s vitally important to pay all your accounts on time and make sure they stay current. You might be tempted to consolidate debt and close credit accounts, but that’s not always a good idea, because doing so can cause your debt-to-credit ratio to skyrocket, which makes you look maxed out.

For example, if you have two credit cards each with a limit of $10,000, and you are carrying a balance of $5,000 on one of them, then you close one of the cards, you suddenly go from using 25 percent of your available credit to 50 percent. A credit utilization rate below 30 percent is usually considered good.

You shouldn’t open new accounts if you’re about to apply for a loan. Especially avoid making any major purchases on credit. Don’t move a lot of money around between accounts, co-sign on another person’s loan, or change your job, name or address. Stability is key.

As long as your financial habits are healthy, your Prosperity mortgage consultant will recommend you continue using credit just as you normally would, because deviations can raise red flags.

Once your credit is optimal and you’ve gotten a mortgage preliminary approval from your lender so you know your exact price range, contact a Long & Foster real estate agent who can help you get the best deal on your ideal home.

Finding a Builder to Construct a Custom Home on your Lot

OCTOBER 18, 2017

By Suzanne Whitenight Pilcher, Marketing Coordinator, Long & Foster Companies.

Perhaps you were lucky enough to inherit property or bought a parcel of land to build your dream home. Now, how do you select the right builder to construct the home you’ve envisioned? Whatever style and size home you’re building, you’ll want to know you’re purchasing a good quality home from a reputable builder.

Where do you start?

It’s best to find companies who are familiar with the building codes in your area, according to Pauline Dent, director of builder & developer services with the Long & Foster New Homes division. Each jurisdiction has specific building codes, so you’ll want to hire someone who knows the codes and can comply with them. The National Association of Homebuilders offers a list of local builders on their website.  In addition, a real estate agent familiar with custom home building can be a great resource.

What’s the builder’s specialty and reputation?

Whether it’s a traditional colonial, modern or craftsman-style home you have in mind, take a look at pictures of the houses each builder has constructed. Ask how many homes they have built that are similar to the design you have in mind.  Then, go to see the products they’ve built in the last few years.

In addition, ask for personal testimonials from past clients. Dent adds you’ll want to talk to a variety of customers, in every stage of owning – meaning those that recently moved in, individuals who have lived in the home less than two years and people who have lived in their houses longer than two years. Ask them if the work was completed on time and on budget and if they had any major issues during construction. Your real estate agent may also have had some experience with the builder to help attest to their reputation.

How much will it cost?

Although it’s important to hire a qualified builder, finding one who can construct a home in your price range is just as critical. Gather quotes from the list of builders you’ve collected and be sure you understand what’s included in each quote. For instance, does the price include site and finish work, landscaping and clean-up of the property? What level of finishings will be included – will you have granite or laminate countertops?

Site work, including land clearing and grading, the construction of driveways and walkways, installation of utilities, permits and fees, can cost more than $60,000 in some areas, according to John Jorgenson, a leading new homes agent in Long & Foster’s McLean, Virginia, office. Check to be sure your builder includes it in the price or you’ll have to budget for these necessary costs.

Just as with any new home purchase, a knowledgeable Realtor can help you find a reputable builder and can guide you through the homebuilding process.

Before the Holidays - Check Home Maintenance Items

RISMEDIA, Monday, October 23, 2017— Twenty-four percent of home contractors recently surveyed by American Home Shield (AHS) reported Thanksgiving as the busiest holiday season for repairs and service. Get ahead of home maintenance with these tips from AHS:

1. Wake your heating system from hibernation.
No homeowner wants to wake up seeing their own breath because the furnace broke down in the middle of the night. Schedule a furnace check-up now with a heating system professional to ensure everything is running properly and that your system meets the manufacturer's rated efficiency. One of the biggest causes of wasted energy is restricted air flow to the heating system, so have a contractor check that the filters and coils are allowing for enough air flow. Getting ahead of this issue will help you avoid appointment delays during the busy winter season and give you peace of mind.

2. Give your gutters a fresh start.
Leaves, twigs and other debris can easily clog gutters, which can lead to ice dams. Ice dams cause melting water to back up and flow into the house, resulting in a very expensive repair. Save yourself the money and trouble by thoroughly cleaning out your gutters after the leaves have fallen. Make sure to tighten gutter hangers and downspout brackets, and replace any worn sections before it's too late. Check that downspouts extend at least five feet away from the foundation. If they don't, buy an inexpensive extension.

3. Mind the gaps.
Walk around the inside and outside of your home and check it for air tightness, carefully looking for any signs of cracks where air could leak out, as this can be a significant source of energy loss. An inexpensive tube of caulk can help seal the leaks and also help prevent moisture from getting inside the walls of your home. Caulk and seal air leaks where plumbing, ducting or electrical wiring comes through walls or floors.

4. Get smart—a smart thermostat, that is.
The Wi-Fi rage is real, especially when it comes to your thermostat. If you still have a manual thermostat or even a programmable one, consider upgrading to a smart thermostat. Today's models can learn your living patterns, heat only rooms that are occupied, turn up the heat as you near your home, allow you to make adjustments remotely from your phone, and much more. According to the U.S. Department of Energy, you can save as much as 10 percent a year in energy usage (and on your utility bills) by making smart adjustments to your thermostat.

5. Double-check doors
Inspect all doors that open to the outside or to the attic and be sure that they close tightly. An easy way to check for air leaks: place a piece of tissue in a clothespin, hold it at various points along the doorway and watch for any movement near the edge of the door and the frame. If you have a leak, take a photo of your door and door jamb, and ask an employee at your local hardware store for help finding the right weatherstripping or door sweeps. Air leaks cause your heating system to work harder, which costs you more money on your utility bills—and can shorten the lifespan of your system.

Source: American Home Shield®

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Home Based Business -- Know the Local Rules

SEPTEMBER 4, 2017

Make Sure You Know the Local Rules Before Moving with a Home-Based Business

By Novelda L. Sommers, Marketing Content Manager, The Long & Foster Companies.

If you’re among the many small business owners who operate out of your residence, and you’re looking to relocate, you don’t want to move to your new dream home only to find out your enterprise isn’t allowed to operate there.

More than half of small businesses registered in the United States are home-based, according to the U.S. Small Business Administration. Entrepreneurs who maintain home offices should research local licensing, homeowner’s association covenants and zoning rules before committing to buy a house.

Often a home business is not permitted if customers are required to come to the home or it involves specialized equipment.

“In most situations, determining the permitted uses of a property is entirely the buyer’s responsibility.  Once you buy the house, it’s likely too late to do anything about a use restriction,” said Tony Boone, deputy general counsel at The Long & Foster Companies.

If the local zoning rules prohibit your type of business, there may be a process for applying for a variance.  However, that is often an expensive and difficult endeavor with no guarantee of success.

Business-owning home shoppers should call the department of planning and zoning in their prospective locality and ask if their at-home business is allowed at the new address, said Callie Dalton, a top producing Long & Foster agent in Roanoke, Virginia. Buyers also need to review any homeowners’ association documents whose covenants, rules and regulations likely to govern the use of the properties in the neighborhood.

“We do suggest that they check with the HOA and local zoning boards to be sure that the property can accommodate a home business prior to writing an offer,” Dalton said. “That way, we aren’t tying up someone’s home, only to find out later it is not suitable for the buyer’s needs.”

Most HOAs prohibit any business that increases foot traffic in the neighborhood, Boone said. Mail-order businesses, on the other hand, might be allowed because they don’t require customers to visit the property. However, there is no standard rule and what is permitted in one neighborhood may not be in another.

Boone recommends speaking with a real estate attorney if the use of a home for business purposes is an important factor for the buyer, “Zoning, covenants of title and HOA rules can be complex and the distinction between permitted and prohibited businesses can be very subtle.”

Mike Mavromates, a Long & Foster agent and managing broker in Avalon, New Jersey, said most of his clients who plan to work from home in his state, for example, don’t need special zoning permission because they only maintain small, single-person offices, with the bulk of business conducted elsewhere.  These professionals – such a loan officers or real estate agents – might perform office work at home, but don’t usually bring clients to their personal residences.

But a number of home-based business owners do need to obtain proper approvals with the municipality’s zoning authority, he said.

“They have to provide details, to include how many clients will visit, parking information, how many customers may visit at one time, etc.,” he said. “Depending on their industry or store, there are signage restrictions and strict requirements for lighting and restrooms, to name a few. They must be aware of and have appropriate approvals.”

The SBA offers general guidelines for researching your location and making sure you are correctly registered with state and local authorities. The administration has offices throughout the country where business owners can get advice about complying with state and local regulations.

home Based Business - Have the Right Insurance

SEPTEMBER 11, 2017

Operating a Business from Home: Make Sure You Have the Right Insurance

By Novelda L. Sommers, Marketing Content Manager, The Long & Foster Companies.

It could happen in a heartbeat – a client slips and falls on your property, a hacker figures out how to steal your customers’ data, or any number of other possible hazards – and suddenly your home-based business could be in real trouble if you don’t have the right insurance.

Homeowners insurance doesn’t cover all of the risks associated with doing business from home. There are policies that specifically cover incidents that might come up related to your business.

An insurance agent can help you determine your exact needs. The experts at Long & Foster Insurance recommend that home-based business owners have a commercial insurance policy in place to ensure they are properly covered.

These are among the types of policies an agent might recommend, depending on your business’s situation:

• Business property coverage: It covers property used in business operations.
• Business income coverage: This provides coverage for the loss of income a business suffers after direct damage of the covered property.
• General liability: These are policies for damages that you could become legally obligated to pay due to bodily injury, property damage or personal and advertising injury that occurs on your business’ premises, operations, completed operations and products.
• Electronic data processing: A policy would cover loss of electronic data processing equipment and media that’s owned, leased or used by the homeowner.
• Goods in transit: This covers product that is either owned by the insured or the insured’s customer while it is being transported.
• Valuable papers and records: A policy would cover loss of paper and records which have no duplicates.

Another type of coverage that is becoming more popular is cyber insurance, covering risks having to do with vulnerabilities that come with being online. One example of that is data breach coverage. If a home-business owner stores payment information, social security numbers, etc., and that data is compromised – depending on what type of policy you have – a policy might cover the cost of mailing notifications to customers that were affected, public relations expenses and credit monitoring services, among many other coverages. It might also cover defense and settlement costs if the business is sued by someone who was impacted by the breach.

The U.S. Small Business Administration offers a free online guide to choosing insurance for your business. A Long & Foster Insurance agent can also help evaluate your needs and select a plan that will keep your business safe and sound.