The Advantages Of Pre-Approval

The decision to purchase a home can be an exciting but sometimes confusing undertaking.  When beginning your search for the perfect home, there are a number of factors that you will want to consider.  Whether you are a first time buyer or already own a home and want to move up, getting pre-approval for your mortgage is a necessary and time saving step.  Here are some of the benefits of getting pre-approved!

Know Your Budget!

Getting pre-approved means that you will have a clear picture of the credit you have available to you to purchase your new home, as well as your price range.  This will prevent you from spending time looking at homes that may be out of your budget and perhaps getting attached to a home that you cannot afford.  It means that if you find the home that is right for you, it can more easily become yours!

Close Quickly

Getting pre-approved for your mortgage means that you can act more quickly once you find the home that is right for you.  The process of getting the mortgage approved is generally the longest and most complicated process in any home purchase.  It requires verification of your income and employment, an evaluation of your credit reports, and the completion of a loan application. Having this step completed can save weeks of time in the closing process.  Pre-approval also means that you have an advantage should a bidding war begin.  The seller can be confident that you can afford the bid you are making and that you can move quickly to finalize the sale.

Overall, there are a number of benefits to getting pre-approval for your mortgage before beginning the search for your new home. Most importantly, it can give you peace of mind in knowing that you are ready and able to make the commitment to homeownership, and that you are not wasting your time in looking at properties that you may not be able to afford.

What Is A Home Warranty Plan?

What Is A Home Warranty Plan?

A home warranty plan, also known as a home protection plan, is a service contract that offers homeowners a way to safeguard themselves against possible breakage or a malfunction within the home.  It's impossible to predict the future, which is why so many buyers look for that little extra peace of mind to comfort them when life unexpectedly throws them an unforeseen problem.

Who Needs A Home Warranty Plan

Basically, anyone who purchases a home and is concerned with the cost of repairs should consider a home warranty plan.  This is especially true of first-time home buyers who may not be familiar with home maintenance.

Factoring In The Cost

When factoring in the potential cost of repairing a major appliance or other home component, a home warranty plan may not be a bad investment.  The actual cost of warranty coverage will depend on the plan chosen and the items protected.  As is the case with everything in life, it's best to shop around and compare prices.

Who Pays For A Home Warranty Plan

As a buyer, you can order a home warranty plan in conjunction with the purchase of your home.  However, some sellers or builders may include this type of offering as an incentive to attract potential buyers.  In this case, the plan is yours at no additional cost.  Some REALTORS® may also offer a home warranty plan as a gift to customers who buy a home through their agency.

What's Covered & What's Not

Just like a car warranty, no two policies are the same.  Coverage varies by location and issuer, and your REALTOR® can help you to choose a warranty plan that best suits your needs.  Most basic plans cover a home's heating and cooling system, electrical system, plumbing, water heater and major appliances, including a dishwasher, range/oven/cooktop, garbage disposal, etc.  Coverage does not apply to items that are misused or damaged, either intentionally or through negligence.  Instead, most home warranty plans are designed to protect the homeowner from defects that result during the course of normal wear and tear.

When considering the purchase of a home warranty plan, review the complete contract and familiarize yourself with exactly what's covered under your policy.  If you want an upgraded policy, don't hesitate to ask your REALTOR® if one is available.  Most companies do not require a home inspection and will notify homeowners when their coverage is about to expire.  The good news is that most policies are renewable.

What To Do If A Problem Arises

If you are unable to satisfactorily resolve an issue with your home warranty plan, either due to denial of a claim or undesirable service, talk to the REALTOR® who sold you the home.  If he/she refers a lot of business to this particular company, it may be possible for him/her to speak with them about reaching an amicable resolution.

The purchase of a home is a big step and it's likely to be the largest purchase you will ever make, so be sure to consider all of the options available to help protect yourself from costly repairs.  Ask your REALTOR® for more information relating to available home warranty plans. 

Seven Tips for First Time Home Buyers

Seven Tips For First-Time Home Buyers

Now that you've made the decision to purchase your first home, a hearty congratulations is in order!  Becoming a homeowner, especially for the first time, can stir up some feelings of anxiety and excitement.  With the knowledge that you gain through individual research and the help of your REALTOR®, you will soon begin to feel like a seasoned house hunter.

Tip # 1: Do Your Homework

Did you know that there are a number of incentives available to first-time home buyers?  Everything from a 5-10 percent down payment and interest rates as low as 3.00 percent are just a few of the ways that lenders help to make the dream of home ownership into a reality for many.  An FHA loan, for instance, is especially appealing to first-time home buyers.  The best way to find out what's available, in terms of down payment requirements and interest rates, is to do your homework by comparing offerings from various lenders.

Tip # 2: Save Money

Although many loans are geared toward offering lower down payments to first-time home buyers, it's important to save as much money as possible so that you will have enough to provide an earnest money deposit (if applicable), pay for closing costs and still have the funds to furnish and decorate your new home.

Tip # 3: Get Your Credit Profile In Order

When you apply for a loan, the lender will access a copy of your credit report and will use the information to determine your creditworthiness and/or interest rate.  This means that you will want to make sure that the information contained in your credit report is accurate and up-to-date.  You can do this by requesting a copy of your file from each of the three major credit reporting agencies - Experian, Equifax and TransUnion.

In addition to past credit history, lenders will also look at your current debt ratio in order to determine whether or not you can afford the home.  This means that you may want to consider paying down some of your existing credit card debt and avoid taking on any new debt before applying for a mortgage.

Tip # 4: Start Your Search

With the World Wide Web being what it is today, it's no surprise that many potential home buyers start their search online.  A Realtor's Web site is designed to not only list real estate, but also to educate a buyer as they move through the process of searching for a new home.  In addition, the internet offers a way for consumers to browse through color photos and virtual tours, both interior and exterior, along with information pertaining to the homes themselves.  The convenience of being able to find a home that you like without having to wait is just one of the many benefits to shopping for a house online.  When you are finally ready to meet with a REALTOR®, you will already have one or more prospects in mind.

Tip # 5: Have Patience

Perhaps you will find the perfect house this week, or maybe it will take a little longer.  Some buyers find exactly what they are looking for right away, while others have to do a little more searching to find their dream home.  As a first-time home buyer, it's a good idea to begin the process with an understanding that good things really do come to those who wait.  You may see a number of homes, take numerous photos and may even make an offer or two, but patience may very well be the key to finding your new home.

Tip # 6: Take Notes

If you see a lot of homes, it will be impossible to remember the features of each.  For this reason, you should consider taking a notebook and writing down each unique or defining aspect that you like or dislike about a particular house.  This information, along with any photos that you take, will help you greatly when it's time to make a choice.

Tip # 7: Don't Settle

A home is a big investment and it could, quite possibly, be the largest you will ever make.  For this reason, along with the fact that you will be living in the home every day, make sure that you get what you want.  There could be an instance where you need to make some type of compromise, but you may want to avoid choosing something just because it's within your price range or you feel as though it's your only option.  New houses are placed on the market every day and, as a buyer, the next one listed may just be your dream home.

Have You Prepared Your Garden for Winter? Weekly Home Tip #6

Getting Your Garden Ready For Winter

The beauty and relaxation that your garden can provide you and your family is certainly worth all the work you put in each year.  Putting in a little extra work at the end of the season, however, can make getting your garden ready next spring easier and can help keep your plants healthy through the winter months.  Here are a few great tips that will get your garden ready to handle the cold and snow.

Clean Up: Though not a favorite task of any gardener, it is a very necessary step to getting your garden ready for winter.  Remove your annuals, empty and store any pots and containers, and give your garden one last mow.  Also, raking up all those leaves is one chore all homeowners are familiar with each autumn, but they do make great mulch for your perennials and vegetable garden, and are also a great addition to your compost.

Plant Or Relocate Trees And Shrubs: The fall is the best time to get new trees into the ground, or move those you have earmarked to be relocated.  The best strategy is to choose trees that are hardy for your zone, as it makes their survival more likely and maintenance easier.  Also, choosing evergreens and shrubs that produce berries in the winter months can make your garden more interesting and provide activity for birds and other wildlife.

Protect Your Trees: For new or young trees this is an important step you'll not want to forget in winterizing your garden.  Covering trees and shrubs with burlap is most important in areas that have exposure to northwest winds and high sun.  Be sure, however, not to do this too early in the season, in order to prevent rot.  It is also a good idea to give your evergreens plenty of water to prevent burnout.

Test Soil And Mulch: After the ground freezes be sure to add mulch to your perennial garden.  This will protect both your soil and plants through the long winter months, as well as provide much needed nutrients for spring.  This is also a good time to test the pH of your soil to see if it is lacking any essential minerals for the next growing season.

Plant Spring Bulbs: This is also the time of year to get your spring bulbs into the ground. Be sure that you do this before the first frost, and give them plenty of water when planting them.

Unlike all the work you put into your garden in spring, winter clean-up can seem like a difficult and unrewarding task, but with this effort you will keep your garden in tip-top shape for the growing season ahead!

Remember if you would like a specific topic covered contact me and I will gladly research for you!!

Trick or Treat Safety Tips

Halloween Safety Tips

On October 31 of every year, children around the nation enjoy carving jack-o-lanterns, dressing up in their favorite costumes and going out trick-or-treating for candy and treats.  Although the traditions of Halloween have been longstanding, it is important that both parents and children approach the occasion with a combination of diligence, forethought and safety in mind.

Costume Selection

When children choose a Halloween costume, they think more about the style and character than the actual safety aspect.  It's important that any mask be designed in such a way that does not obstruct the child's view while being worn.  In addition, a costume should be comfortable and not restrict movement or increase the risk of the child stumbling or falling.  Therefore, the costume's length must also be considered.  Bright colors also are recommended so they can be easily seen.  

Chaperone Requirements

In a perfect world, it would be safe for children to go out and enjoy Halloween by trick-or-treating in the nearby area or neighborhood.  However, this is not a perfect world and it's important that an adult accompany children who are outdoors and/or trick-or-treating.  Ideally, there should be one adult for every 2-3 children.  This is especially important in large groups, where it may take more than one adult to supervise multiple children at once.

Must-Have Accessories

Because trick-or-treating typically occurs in the evening hours, it's important to have a working flashlight on hand.  Add fresh batteries to ensure it will last through the night.  Adults should carry their cell phone in case of car trouble or to reach emergency contacts, if needed.

Rules Of The Road

When trick-or-treating, always remain in well-lit areas.  This includes areas with working street lights and homes that have a porch light turned on, which is a sign that the homeowner(s) welcomes trick-or-treaters.  If the house is dark and/or the porch light is off, avoid the home and continue on to the next one.

One of the greatest attractions of Halloween to a child is that of trick-or-treating and the prospect of receiving candy and other treats.  It's important that both parents and children know which types of candy are safe and which are not.  Candy that is unwrapped or is not factory sealed should not be eaten.  Instead, it should be thrown away.  In addition, candy with expiration dates that have passed or anything that's homemade should be discarded.  With this in mind, it is recommended that nothing is eaten until parents and children examine all of the “loot” once everyone gets home.

Observing Local Curfews

Trick-or-treating is typically designated at a certain time for every area.  This means that some towns may allow trick-or-treating on the night before or the night of Halloween.  Additionally, there are specific hours and age limits that must be observed by all who choose to trick-or-treat.  It's important that both children and adults understand the local rules and adhere to them strictly.  If you are concerned about missing the curfew, wear a watch that lights up with the touch of a button.  This will allow you to easily see your watch face in the dark and will ensure that everyone gets home on time.

Weekly Home Tip 5 - Is Your House Ready for Winter??

FIVE QUICK TIPS TO GET YOUR HOME READY FOR WINTER

Roof repairs: If you can safely get onto your roof to inspect for missing shingles or other factors that may lead to a leaky roof, now's the time to do it!  If not, call in a professional organization and have them take care of the rooftop work for you.

Seal it off: Inspect doors and windows to ensure that the weather-stripping is in good condition.  This will keep your house warmer and cozier in the winter months.

Hot stuff: Make sure that your heater and ventilation systems are in good working order!  Clean out accessible ducts and replace filters where necessary.

Chimney sweep: Creosote, a black substance that builds up in the chimney when wood is burned, can cause chimney fires.  Inspect your chimney for creosote and call a chimney sweep to keep your fireplace safe and functional.

Gutter check: Now's the time to clean out those rain gutters again!  If you want to do it yourself, make sure that you can safely access the gutters and then scoop out any debris, blast the drains clean with a high-powered hose, and repair any leaks you may find along the way.

Would you like a specific topic covered?  Contact me and I will do the research for you.

Weekly Home Tip 2

Tips On Saving Energy & Money At Home

When you save on energy, you also save money.  As a homeowner, there are a number of ways that you can do both and still have the energy to enjoy your everyday life.

The Buzz On Bulbs

One of the most obvious ways to save energy in your home is to turn off the television when nobody is watching or when the room is empty.  Additionally, avoid leaving lights on that aren't necessary.  Speaking of lights, your choice of light bulbs may also have an impact on your energy bill as certain types require more electricity than others resulting in higher energy costs.

Keep It Cool

During the warm spring and summer months, it's best to keep all appliances that give off a lot of heat away from the thermostat.  Otherwise, your home may appear hotter than it actually is and the air conditioner will then be made to work harder.  This, in turn, equals more energy being used and more money being spent on energy costs.

Speaking of heat, it's a good idea to avoid excessive use of the oven when it's hot outside.  During the warm weather months, the oven can quickly cause your home's interior to heat up.  This means the air conditioner will once again be working harder to cool your home's interior, which increases your energy consumption.  One popular alternative is to use the microwave.

Shop Smart

Whether you have outdated appliances or are simply looking to furnish a new home, it's a good idea to keep energy efficiency in mind while shopping for new models.  Although energy-efficient appliances may be more expensive, they can save you money in the long run by cutting your energy costs every month.

Heating & Cooling

If you want to save a substantial amount of money, take a close look at your heating and cooling costs, which often make up over 50 percent of a family's energy bill.  When it comes to heating or cooling, make sure that the thermostat is adjusted at night and when the home is empty.  Otherwise, you are simply wasting energy.  Make sure that filters for both heating and cooling units are replaced regularly.

Sun Sense

In the summer, leave your curtains and/or blinds closed in order to minimize the sun's heat from entering your home as this could cause your air conditioner to work harder.  After all, your air conditioner is designed to cool your home and the sun's heat only makes the temperature rise.  In the winter, however, open your curtains in order to get the most out of the sun's warm rays. 

Weekly Home Tip!!!!

Home Safety Tips

Your home is your haven and, as such, it should be a place where you feel safe.  If you want to protect yourself and your family, home safety should be a priority in your life.  Here are some ideas on how to deal with some of the most common concerns facing homeowners today.

Do Some Detective Work On Your Detectors

Make sure that your smoke detectors are working and have fresh batteries.  It's important to clean them regularly to avoid a buildup of dust and dirt, which may cause them to malfunction or stop working altogether. 

Make Sure That Your Security System Is Secure

If your home has a security system, make sure that nobody else has the code.  If you purchased your home with the security system in place, have the code changed as a precaution.  Just as you would change the locks to prevent friends, acquaintances or family members of the previous owner from entering the house without your permission or knowledge, it's equally important to change the code on your security system. 

Obstacles & Falls

Many people die or get injured each year as a result of a fall in their home.  Make sure that the way you arrange your furniture and possessions makes it easy for you to move around your home.  Be especially careful about where you put low items that you may trip over.

Trailing electric and phone wires can also be hazardous-try to connect appliances to a socket nearby.  If trailing wires are unavoidable, arrange them as far out of the way as possible and tape them down with strong electrical tape or something similar.

Keep staircases and passageways clear, and never place a loose rug at the top of the stairs.

Try to organize your storage so that you can reach items you use regularly without having to climb.  Don't be tempted to balance on chairs or boxes if you do need to reach something high-use a proper step ladder with non-slip steps, or wait until someone else can help.

Weekly Home Tip!!

Ways To Make Your House Smell Good

If you want a house to smell clean, you clean it.  But what can you do to add a special touch that makes your house smell one step beyond clean?  Use some common “scents,” a little knowhow and a lot of creativity to make your house smell fantastic.

Use Your Good Scents

Many homeowners choose to use scented candles in their home.  As the candle burns, the oils melt and create a wonderful smell throughout the entire room.  Not only do these smell great, but certain scents can also be relaxing.  Lavender, for instance, is commonly used in aromatherapy and is believed to be a calming scent.  Vanilla, strawberry, cinnamon and even chocolate are also popular among homeowners who want to add a special touch to their home.

Good Enough To Eat

If you really want to make your home smell terrific, add a bowl of fresh fruit to the dining room table.  Oranges, tangerines and apples will provide a colorful centerpiece and a scent that's simply yummy.

If you like to bake, there's nothing better than the smell of freshly baked cookies fresh out of the oven.  Of course, if you don't feel up to baking every day, you can always use a chocolate scented candle instead.

Make Your Home Blossom

If you really want to add a terrific aroma to your home, place a vase of fresh cut flowers in your living/family room.  A perfectly designed arrangement will act as a wonderful centerpiece, but will also fill the room with a wonderful smell.  Roses are terrific for adding an unmistakable scent to any room, but many other flowers will prove to be just as nice.

Everyone “Nose” Potpourri

A potpourri mixture, which contains dried petals and spices, is typically placed in a bowl and used to add a wonderful scent to any room.  A variety of mixtures are commonly found in any retailer's craft section or anywhere that scented candles are sold.  Potpourri is low maintenance in that it requires nothing more than being placed in a bowl and situated in the room of your choice.

Freshening Up The Air

These days, air fresheners are everywhere.  Why?  Quite simply, because they work.  Individuals who suffer from allergies may have a difficult time with some scents and/or brands of air fresheners, so be sure to keep this in mind when shopping.  Air fresheners are available in a wide variety of scents and are generally inexpensive, which makes them a nice choice for many homeowners.

What Repairs to Make Before Selling Your Home

One of the most common questions asked before someone decides to list their home is "what repairs should I make to maximize my profits".  Should you finally finish the "Honey Do List" you have been putting off, or should you make more extensive repairs?

While major repairs or projects may bring you a good return on your investment in certain market conditions.  It can be difficult to know what major projects to complete.  Have a Realtor help you make this decision by showing you how similar homes to yours are selling with repairs vs similar homes without repairs.

If you don't want to tackle the larger projects there are many small items that can be fixed that will have a huge impact on the potential buyers that come to take a look at your home.  Here is an article from MSN Real Estate that explains 10 items that should always be addressed before you sell.

http://realestate.msn.com/article.aspx?cp-documentid=13108483

Wisconsin Home Sales Prices Rise Again in April

Wisconsin Home Sales

Below is and article from the Wisconsin Realtors Association regarding information about the Wisconsin housing market sales and price trends. Housing sales and average prices are rising for the 22nd month straight.

If you have been holding off on selling your home or purchasing a new home due to the slowdown in the housing market over the last few years, now may be a great time to reconsider.  Contact me if you would like any assistance with buying or selling your home.

Hear is the article from the WRA and a link to the article on their website.
https://www.wra.org/HSRApril2013/ 


Date: May 20, 2013

MADISON, Wis. — Wisconsin existing home sales jumped 9.2 percent in April 2013 compared to April 2012, representing 22 straight months of positive sales growth in the state. Median prices climbed by a solid margin, growing 7.8 percent over the past year to $138,000, according to the most recent statistical report released by the Wisconsin REALTORS® Association (WRA). 

“This is a solid but sustainable pace of sales,” said Renny Diedrich, chairman of the WRA board of directors. This continues the modest growth established in the first quarter of the year nationally in which sales were up 9.8 percent, as well as for Wisconsin, where revised figures show that sales rose 11.7 percent compared to first quarter of 2012. “It looks like the first quarter trends are continuing into the prime selling period of the year, which is very encouraging,” Diedrich said, noting that in a typical year, about 60 percent of Wisconsin home sales take place between April and September. 

Five of the state’s six regions experienced positive growth in sales, with two regions up in the neighborhood of 20 percent. Specifically, the West region saw its sales grow 20.9 percent in April 2013 compared to that same month in 2012, and sales were up 18.5 percent in the South Central region over that period. The Northeast region grew at 8.6 percent, the North was up 5.3 percent, and the Southeast increased 4.5 percent comparing April 2013 relative to April 2012. Only the Central region saw its sales decline, with a modest reduction of 2.2 percent.

Median prices increased 7.8 percent in April compared to April 2012, after rising 9.3 percent in March, again compared to the same month in 2012. “We’re seeing strong upward price pressure statewide and across all regions,” said Michael Theo, WRA President and CEO, who pointed to a number of factors on both the demand and supply sides of the market. “On the supply side, unsold inventory has fallen by more than 9,000 homes over the last year, and on the demand side, very favorable mortgage rates have gotten some buyers off the fence and into the market over the last few months,” said Theo. He also suspects that the tight inventory of entry-level homes is helping to fuel the upper end of the market. “We’ve been hearing from REALTORS® that trade-up buyers are having very little problem selling their existing homes, which helps explain why higher-end homes are moving more quickly than they have in the past,” he said. 

Despite increasing prices, housing in the state remains very affordable. The Wisconsin Housing Affordability Index shows the percentage of the median-priced home that a buyer earning the median family income can afford to buy, given the available 30-year fixed-mortgage rate and down payment of 20 percent. The index stood at 255 in April, which is similar to its level of 258 in April 2012. By comparison, the U.S. Housing Affordability Index reported by the National Association of REALTORS® (NAR) was at 197 in the first quarter of 2013, and NAR predicts that the national index will fall to 114 by the end of 2014. “We’re still quite a bit more affordable than the national level, but affordability will slip if prices and mortgage rates rise” said Theo. “This is the time to enlist the help of an experienced REALTOR® to get the most value out of a market that is clearly heating up,” he said.

About the WRA
The Wisconsin REALTORS® Association is one of the largest trade associations in the state, representing over 11,900 real estate brokers, sales people and affiliates statewide. Sales estimates for the state are provided by the National Association of REALTORS®, which seasonally adjusts quarterly sales figures. All county figures on sales volume and median prices are compiled by the Wisconsin REALTORS® Association and are not seasonally adjusted. Median prices are only computed if the county recorded at least 10 home sales in the quarter. All data collected by Wisconsin REALTORS® Association are subject to revision if more complete data become available. Beginning in 2010, all historical sales volume and median price data at the county level have been re-benchmarked using the Techmark system which accesses MLS data directly and in real time.

Great article in the State Journal about Dane County Home Sales stats.

I wanted to pass along this link to a great article in the Wisconsin State Journal about home sales statistics in Dane County.  Home Sales in Dane County are up 31% in April over last April.

If you have been delaying selling your home it may be time to reconsider, and see what your home could be worth.

http://host.madison.com/wsj/business/real-estate/property-trax-april-home-sales-in-dane-county-up-with/article_634871a8-bbfe-11e2-a6e3-001a4bcf887a.html

The Morning Sun

Oscar and Ollie enjoying the morning sun during coffee time.

In joining REMAX thought this was a funny video about Real Estate Agents