Monday, July 15, 2019 / by Nicki Conway
Square footage is commonly used to determine if a home will fit a buyer's needs. The price per square foot can be used to compare the costs of different homes and even, determine the value of a property.
The challenge is what is the source of the square footage measurement and how was it done?
County records use square footage to determine assessed value for property tax purposes. They are assumed to be reliable but there can be inaccuracies in their tax rolls. Another source of square footage could be from the house plans but the problem there is that the builder may have made modifications, or a subsequent owner could have made additions.
Appraisers are required to measure the home to determine square footage and they generally adhere to a standard method which leads to uniformity in the industry. The ANSI, American National Standards Institute, guidelines are considered the standard but there are no laws governing the process.
Because basements are be ...
Monday, June 10, 2019 / by Nicki Conway
You've been planning this trip for some time and almost every detail has been considered...or has it? Have you thought about how to protect your home while you're out of town? What's going to make sure that everything you left is still there in you return?
Nothing could ruin a trip more than coming back to find out your home has been burglarized or worse. It makes sense to spend a little time before you leave on making sure your home is as safe and sound as it can be.
There are a host of devices to use across the Internet including camera door bells, video cameras, door locks, garage door openers, light and thermostat controls. You can monitor your home whenever you have an Internet connection. The question is whether you want the distraction from your trip.
Consider these low-tech suggestions along with your other normal efforts:
• Tell your neighbors you'll be out of town and to be aware of any unusual activity.
• Notify your alarm c ...
Wednesday, April 03, 2019 / by Nicki Conway
In the time that it takes to write one check, you can set it up with your bank and never have to do it again. You won't have to write checks, envelopes or buy stamps anymore. You'll save time, money and benefit in other ways too.
1. Never be late ... avoid late fees and protect your credit
2. Schedule additional principal contributions monthly to save interest, build equity and shorten the mortgage term. An extra $200 a month applied to the principal on a $200,000 mortgage at 4.5% for 30 years will result in shortening the loan by 8.5 years. If the loan was paid to term, it would save $52,977 in interest. Use the Equity Accelerator to see how much you can save.
3. It's convenient ... by doing it online with your bank, you'll have a centralized history of the payments.
4. Protect your credit ... your payment history is the single biggest component of your credit score and accounts for over 1/3 of your credit score.
Establishing the practice of au ...
Monday, March 25, 2019 / by Nicki Conway
Checklists work because they contain the important things that need to be done. They provide a reminder about things we know and realize but may have slipped our minds as well as inform us about things we didn't consider. Periodic attention to these areas can protect the investment in your home.
1. Change HVAC filters regularly. Consider purchasing a supply of the correct sizes needed online and they'll even remind you when it's time to order them again.
2. Change batteries in smoke and carbon monoxide detectors annually.
3. Create and regularly update a Home Inventory to keep track of personal belongings in case of burglary or casualty loss.
4. Keep track of capital improvements, with a Homeowners Tax Guide, made to your home throughout the year that increases your basis and lowers gain.
5. Order free credit reports from all three bureaus once a year at www.AnnualCreditReport.com.
6. Challenge your property tax assessment when you receive that year' ...
Monday, February 25, 2019 / by Nicki Conway
Affordability, stability and flexibility are the three reasons homebuyers overwhelmingly choose a 30-year term. The payments are lower, easier to qualify for the mortgage and they can always make additional principal contributions.
However, for those who can afford a higher payment and commit to the 15-year term, there are three additional reasons: lower mortgage interest rate, build equity faster and retire the debt sooner.
The 30-year, fixed-rate mortgage is the loan of choice for first-time buyers who are more likely to use a minimum down payment and are concerned with affordable payments. For a more experienced buyer who doesn't mind and can qualify making larger payments, there are some advantages.
Consider a $200,000 mortgage at 30 year and 15-year terms with recent mortgage rates at 4.2% and 3.31% respectively. The payment is $433.15 less on the 30-year term but the interest being charged is higher. The total interest paid by the borrower if ea ...