10 Chores to Do Annually!

10 Home Chores To Do Annually!

Sing me some graces, there is such a thing as over-cleaning! Here are ten chores around the home that you really only need to do annually, minus special circumstances. Let's dive in!

1. Curtains & Drapes

Unfortunately, we don't mean the dusting part. You'll want to dust at least once a month, but when it actually comes time to getting them cleaned, you only really need to do that once a year. You can take them in to get dry cleaned or follow the instructions on their tags if you choose to wash them at home. 

2. House Gutters

Gutter guards can be a great investment, especially if you live around trees that shed all year long. These can keep your gutter cleanings minimal, generally about once per year. You'll want to do this in the autumn when all of the leaves from the trees have already fallen. 

3. Fireplace & Chimney 

After the winter, you'll want to give your fireplace a thorough cleaning. You can use a shop vacuum to clean up the embers. Make sure to wash down the fireplace tools as well. Go an extra step further and schedule an appointment with a chimney sweeper. 

4. Carpets

We wish we meant vacuuming, but that's pretty much a weekly or biweekly task for most households. In this case, we mean a deep clean. The best time to get this taken care of is right after summer. 

5. Outdoor Furniture

The best time to clean outdoor furniture is when you bring them out of storage for Spring. Of course, if messes up happen while you're using them, you want to clean the spots right away, so you avoid an accumulation of stains in a short period. 

6. Mattress

Mattresses have improved through the years but they still need a little bit of attention. At least once a year, give your mattress a thorough cleaning and change the position of it. 

7. Kitchen Cabinets & Pantry

Early November is a great time to clean out kitchen cabinets, drawers, and the food pantry to get them ready for the holidays. Do a section of cabinets at a time and empty them out completely. Wipe down the shelves and reline with shelf paper if needed.

8. Linen Closet

Just once a year, empty out your linen closet and give it a thorough cleaning. Take time to vacuum away dust and spiderwebs and reline any shelves. 

9. Garage, Basement, & Attic

No one is expecting you to have a perfect garage, basement, or attic. However, a good cleaning at least once a year can help you keep an eye on things, such as moisture or insect problems. It can also feel good to get rid of junk that tends to accumulate in these hidden spaces.

Leave the Big Chores to a minimum and when it comes time to sell/move you'll be one step ahead towards moving. 

Contact Me with any questions with all your Real Estate Needs! I'm always available to help. 

Debunking Myths of Home Buying

Debunking Myths To Home Buying

Finally ready to make the transition into home ownership? That's awesome, and in this exciting time you can be turning to friends and family for an insight into the process. However, there seems to be a circulation of misinformation spreading around, so I'm here to clear up a few myths. 

1. THE FIRST STEP IS SEARCHING FOR A HOME
You know the saying, "Don't put the cart before the horse," well that's important to remember when it comes to buying a home. You don't want to start looking for a house until you have gotten to sit down with a lender and discuss what the bank will qualify you for. If you fall in love with a house that's $250,000 and come to find out you're only qualified for $200,000 you can get your hopes crushed and waste a lot of time. Don't start the process on the wrong foot and make sure the numbers line up.

2. YOU DON'T NEED A REAL ESTATE AGENT
For starts, when buying a home, 99% of the time the buyer's agent gets paid by the sellers. That random 1% can be for odd circumstances. So you're getting to use the services of a real estate agent for free. Having a real estate agent on your side means you'll get to see homes that aren't as readily available on public searches, you avoid outdated listings and scammers (there are lots of them), and you have protection when it comes to navigating the legalities of contracts and buying a home. Why wouldn't you want an awesome negotiator working to ensure you get the best from the transaction? For FREE!

3. YOU CAN'T BUY A HOME WITH BAD CREDIT
Fortunately for some, this is a myth. Lenders and banks come by the hundreds of thousands and all though there are a few loan options, a lot of lenders can work with credit scores down to the low to mid 500's. Get in touch with me at Davis and Associates Inc., Realtors to help you connect with the right lender who can help you potentially approved. There is a lot of factors that go into approvals, but your credit doesn't have to be a sore thumb during the process. However, you will be doing yourself a favor if you connect with a credit repair specialist to at least get those numbers in the 600's. A better score will lower you interest rate.

4. YOUR DOWN PAYMENT HAS TO BE 20%
Think you have to sell an arm and a leg to buy a home? Not at all! An FHA loan only requires 3.5% while a conventional only requires 5%. There are a lot of programs that can potentially help you with down payment assistance or be 0% down mortgage. USDA and VA loans are the most popular 0% down programs. If you qualify, this can take a big chunk off the amount of cash you have to bring to the closing table. 

5. DOWN PAYMENTS ARE THE ONLY UPFRONT COST
This is one of the biggest misconceptions. There is a lot of cost that goes into buying a home, and that includes upfront costs. One of the mandatory ones are a termite and appraisal. If you are getting a mortgage, the home will have to appraise and get a letter stating there are no termites in the home. Termite can range between $25-$75 dollars. An appraisal can range from $300-$700 dollars. Aside from your down payment, you then have to pay for closing costs. And NO, they are not the same thing. Closing costs can range anywhere between 3-6% of the purchase price. In certain markets, this can be negotiated for sellers to cover by rolling into the offer price, but whether that decision is smart to do or not when it comes to landing your dream home will need to be discussed with an agent like ME.
Now that you have some knowledge to get the process started, get in touch with a me to help you get through the process smoothly.

 

How Interest Rates Affect You

The interest rate is the percent of principal charged by the lender for the use of its money. The principal is the amount of money lent. Banks pay you an interest rate on deposits because they borrow that money from you. Anyone can lend money and charge interest, but it's usually banks.

The Federal Reserve System is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panic led to the desire for central control of the monetary system in order to alleviate financial crises. The Fed's can raise, or lower interest rates based on the current climate of the U.S Economy. Their decisions can affect the cost of housing, cars, student loans and even the interest on your credit card — though not all necessarily right away. And when the Fed raises rates, all sorts of other expenses eventually tick up.

In general, movement of the Fed’s rate does not have a large, direct impact on long-term mortgage rates. But when the Fed’s rate goes up, banks find ways to pass their higher borrowing costs along to consumers, and because long-term mortgage rates are set in stone, they also factor in the anticipation of future rate increases.

The Federal Reserve  announced it would raise interest rates and steepened its outlook for hikes in 2019 and 2020.

After a two-day meeting, the Federal Open Market Committee unanimously voted to increase its benchmark fed funds rate by 25 basis points, to a range of 1.50% to 1.75%. It was the sixth rate increase since late 2015, as the US's central bank backed further away from emergency policies that helped heal the economy after the Great Recession a decade ago.

 The hot economy will continue to put upward pressure on rates. Rates are good right now as well as our growing economy currently. This is a perfect time to get your foot in the door on lower interest rates before they rise again. Locking in your rates secures your payments and future in your new home. A mortgage Rate Lock is a guarantee that the lender will deliver a specific combination of interest rate and points if the mortgage closes by a specified date. A point is a fee or rebate equal to 1 percent of the loan amount. Frequently, rate locks last for 30, 45 or 60 days, but they can be shorter or longer.

Many mortgage consumers wonder what the economy has to do with mortgage rates.

Summing it up with one word: everything.

 Mortgage rates tend to be higher when the economy is doing well. That’s because inflation takes off and investors seek higher returns than mortgage bonds can offer.

In June 2018, the unemployment rate rose to 4.0 percent. It was 3.8 percent in May, the lowest rate since April 2000, you must go back to the 1960s to see unemployment rates this low. There doesn’t seem to be any cracks in the economy. Recent tax cuts have fanned the fire, and companies are on a hiring spree.

There are several reasons to buy a home in today's market:

1.Robust Economy

2.Interest Rates are still low

3. A surge in Housing Market Inventory (more homes to choose from)

4. Great Mortgage Packages available, even for the first-time home buyer

One of the most listed reasons is pouring money into rent which ends up in the pockets of someone else instead of your own. Is it time for you to get out of someone else's home ?and into your own? If so, now is the time to take that step, a booming economy allows buyers ease of finding their perfect home more now than years before.

Contact Me, to see how buying a home can save you money and bring you great financial benefits too!! 

Kristi Fenton

Real Estate Broker

217-617-9083-phone

217-224-8100-office

Kristibroker@gmail.com - Email 

I want to extend the same friendly welcome to you also-with help purchasing or selling a home... so let's get started.