Apps to Make Saving Easier

Saving for a home, retirement, a vacation or anything else can be difficult.

The median retirement savings of all working-age families in the United States is $5,000, according to the Economic Policy Institute. Given that many financial advisers recommend having about $1 million in retirement, that leaves many families far short of their retirement plans.

Don’t let such big goals keep you from striving for them. Many mobile apps help people reach multiple savings goals, often in painless ways that only require the change you’d normally get at the cash register.

For a retirement plan, home down payment or other large financial goal, you’re probably best off by maximizing automatic paycheck deductions or contributing regularly to a savings account. For smaller savings goals, here are some apps to check out:

Qapital: Set multiple savings goals and have money moved into savings based on rules you set. The service is free.

You won’t have to sacrifice the things you love buying. Buying an espresso every morning at your local coffee shop? Tell the app to save $5 every time you buy coffee. Or it can round up that coffee purchase by a lower amount, such as moving a $3.50 coffee to $4 and putting that extra 50 cents in your account.

Digit: This service has a different way of helping users save money. It connects to your checking account and analyzes your income and spending and finds money it can set aside for you. It never transfers more than you can afford, so you don’t have to worry about overdrafting your account.

Digit used to be free, but now charges $3 per month for its service. A 100-day free trial is available.

Acorns: This micro-investing app turns every purchase you make into an investment.

It connects your accounts and cards that you use to make everyday purchases and rounds your purchases to the nearest dollar. That spare change is automatically invested. You can also set up recurring or one-time investments.

Acorns costs $1 per month to use. For accounts of $5,000 or more, the fee is 0.25 percent per year.

SmartyPig: This online saving account lets you save for specific goals by making automatic transfers from your linked bank account. Want to save for a new TV? SmartyPig can help you set up an account for that.

The service is free. Up to six withdrawals per account can be made each month.

I hope you found this helpful. Contact me for more insights and info.

Insurance 101 for First-Time Homeowners

If you’re thinking of becoming a homeowner, you’ve likely spent time budgeting for additional expenses – property taxes, lawn care, a big-screen TV to fill up that extra space…you get the idea. But have you factored in protection for your new home?

While you’re crunching numbers, remember to include homeowners insurance. A standard policy will cover exterior and interior damage from incidents like vandalism, fire, wind and lightning. It also covers loss of use expenses, damage to structures like sheds or gazebos, and liability and medical costs if someone is injured on your property. Personal property is covered, too – good news if you really do have your eye on that big-screen TV.

Still, standard policies aren’t comprehensive. To help you estimate how much you’ll spend on insurance, keep these points in mind:

• Standard policy coverage can be for the cash value of your home and possessions (which may depreciate over time), repair or rebuilding costs based on the original value of the home, or replacement costs that exceed your limit if necessary. Coverage does not equal the sale price of your home.
• Projects like building a porch or another bathroom can add significant value, so you may need to adjust your policy if you’re planning to renovate your new home. Upgrades (like a new roof) can lead to discounts if they mitigate risks, but potentially hazardous features (like a pool) may require up to $500,000 in coverage.
• Ninety percent of natural disasters result in some form of flooding – that’s a risk insurers just don’t want to take. Even if your home isn’t in a flood area, you may want coverage anyway if you have a finished basement. You can obtain a separate flood insurance policy through the National Flood Insurance Program (NFIP). And don’t delay – it takes 30 days for new policies to go into effect.
• Residents in earthquake-prone areas might also want to supplement their standard policy, which doesn’t cover damage directly resulting from seismic activity. However, if a quake leads to further damage, such as a burst gas line causing a fire, your standard policy will cover it.

It may seem costly, but protecting what’s likely the largest investment you’ll make in your lifetime is worth it – and peace of mind is priceless.

Baby-proofing a New Home

Anytime you move into a new home, one of the most important things to consider is the safety of your little ones. Baby-proofing your home may sound like a daunting task, but spending a little time when you first move in kid-proofing the house will save you much worry as you get the rest of your house ready.

The kitchen is possibly one of the most hazardous rooms for a young child. With all the cooking utilities and electrical appliances, this room is one of the most important rooms to have childproofed.

Oven knobs are an appealing gadget for children to play with, so make sure that they are off and protected with stove knob covers. Keep a fire extinguisher on hand in the kitchen and keep it out of reach on a high pantry shelf, mounted on the wall or in a childproof cabinet.

Bathrooms can be one of the trickiest places when baby proofing your home. Implementing safeguards is imperative for your child’s safety. In order to safeguard from slips, use non-slip mats for in and out of the tub, as well as any hard-surface floors that are near the bathroom. The chances of chasing a wet toddler around the house at some point is high, so adding these non-slip mats will aid in preventing any scrapes or bruises.

It is also important to install a toilet lock so any curious little fingers don’t get caught and smashed by accident. This will also prevent the little ones from any exposure to anything unsanitary. It’s also useful to cover the tub spout in order to protect his or her head from any danger in case they fall.

In the nursery, make sure that your crib slats are 2 3/8 inches or less apart. For those with real little ones, you may want to remove all the bumpers, blankets, pillows, and stuffed animals from the baby’s crib, as some reports have indicated that children could suffocate on them. This also includes mobiles with small hanging parts.

Rather than using the plastic outlet covers we all grew up with, consider using the new innovative sliding covers instead. This prevents children from choking on the little plastic covers if they manage to get them out.

When you think, “childproofing,” a baby monitor is a must-have. Although, you want to ensure that the cords are wound tightly and are always away from the crib. There is also the option of a cordless monitor as well.

Additionally, if you have pets, be aware that pet food is a choking hazard and should not be left unattended. Either keep the pet in a room where your child can’t get to, or remove the food bowl as soon as your pet is done eating.

Interested in more real estate tips? Feel free to contact me directly!

Federal Banking Agencies Propose Exempting CRE Property Sales of $400,000 or Less from Appraisals

Jul 19, 2017 - CoStar News

Responding to investor and lender concerns regarding the time and costs associated with completing smaller real estate transactions, the Federal Reserve Board, the Federal Deposit Insurance Corp., and the Office of the Comptroller of the Currency today proposed raising the sale price threshold for commercial real estate transactions requiring an appraisal to more than $400,000 from the current level of $250,000. 

The banking agencies proposed the sale-price threshold for residential real estate transactions should remain unchanged. 

The agencies believe raising the threshold for commercial property sale transactions will significantly reduce the number that require an appraisal, while not undermining the safety and soundness of financial institutions. 

The FDIC estimates that 17% of all current CRE property sales currently fall below the $250,000 threshold and do not require loan appraisals. Moving the threshold to $400,000 would increase that percentage of sales not requiring appraisals to 28%. 

"(This) will be a meaningful reduction in regulatory burden, particularly for rural banks who would be expected to originate many of these smaller transactions," noted FDIC Chairman Martin J. Gruenberg in a statement announcing the proposal. 

The revised threshold arose during a regulatory review process conducted as part of the Economic Growth and Regulatory Paperwork Reduction Act (EGRPRA), which requires federal banking agencies to conduct a review of their rules at least every 10 years to identify outdated or unnecessary regulations. During the most recent review, financial industry representatives raised concerns that the current exemption level had not kept pace with price appreciation in the CRE market. 

“The current commercial real estate appraisal thresholds have been in place for a long time, about 23 years, and were the subject of frequent comment during the EGRPRA review process,” Gruenberg said. “In particular, bankers in rural parts of the country at outreach sessions expressed significant concerns with delays in completing real estate transactions due to a scarcity of appraisers in those areas.” 

Appraisers Oppose Move 

Federal banking regulators will be accepting comments on the proposal for the next 60 days. The Appraisal Institute, the nation’s largest professional association of real estate appraisers, said it is working on an official comment to the proposal. The institute has been urging federal regulators against increasing the appraisal threshold for commercial property sales since 2014, 

“The Appraisal Institute is concerned by today’s announcement. We remain opposed to the proposed increase in the appraisal threshold level from $250,000 to $400,000 for commercial real estate loans,” said Appraisal Institute president Jim Amorin. “The agencies’ proposal contradicts federal bank regulators’ concerns regarding the state of the commercial real estate market and the quality of evaluation reports.” 

Instead of an appraisal, the proposal would require that CRE transactions at or below the $400,000 threshold require just an evaluation for approving a loan. As defined by agency guidelines, these evaluations are less detailed than full appraisals. They do not require completion by a state-licensed or certified appraiser while still providing a market value estimate of the property pledged as collateral. 

“Although the proposal represents a modest increase, as pricing in commercial real estate has increased, so have investment risks,” Amorin said. “If anything, federal bank regulators should be calling for heightened due diligence by regulated institutions - not an undoing of a fundamental risk management activity.” 

Copyright © 2017 CoStar News

Trendy Home Decorations to Consider This Year

By Craig Middleton

The comfort level of your home is significantly influenced by the design of the interior setting. It's important that you decorate with the latest trends to create a modern and contemporary setting that reflects your taste. If you're looking to update your home decoration, here are a few designs to consider using this year.

MarbleMarble is a luxe material that looks stunning when used in different areas of the home. Marble countertops create a regal environment in the kitchen or bathrooms and will boost the home's value. Marble accent pieces can also be used with a side table that is placed in the living room or a marble clock in a home office. Marble wallpaper or fabric will also make a statement if you want a more affordable option when furnishing your home.

Jewel Tones
Jewel tones add a subtle amount of color to the interior setting and help to brighten up the space. Jewel colors consist of pastel shades, emerald green, and violet. The colors will reflect the outside setting and will allow you to maintain a neutral environment that isn't overly bold or loud.

Nailhead DetailsNailhead details have made a comeback from past years and are a popular look for different furniture pieces that are used throughout the home. Choose a headboard that has a nailhead design or a sofa that incorporates the luxe look. Although it's commonly added onto upholstered pieces, it is also used to create intriguing patterns on the fabric for extra embellishment that looks eclectic.

Subway TilesSubway tiles continue to be a hit this year for their sleek and urban style that creates a light and airy setting in bathrooms and kitchens. Subway tiles are a versatile choice that looks classic and can work with a variety of different styles. You can utilize subway tiles to work with a farmhouse style or bohemian design. Use a dark grout with the tiles to prevent dirt from being visible as you use the space. The tiles are also available at different prices, making them affordable for most budgets. If you want to have a twist on the design, opt for installing matte glass subway tiles.

Metallic Details
Metallic details add extra shimmer to interior settings and can dress up the space. Use brass hardware on your kitchen cabinets or install a silver chandelier in the middle of the room to set the style of the space. Metallic features can also be added to the outside of the home with copper rain gutters that are installed.

Modern Holiday DecorationsWhen it's time to decorate during the holiday season, modern decorations are popular to create a chic setting that doesn't have to be traditional. Use a white Christmas tree that will stand out in the room and look beautiful with metallic ornaments that are hung on the branches. Real garland that is draped on the fireplace mantle will also look appealing and can add a touch of the outdoor setting into your home.

WallpaperMore people are choosing wallpaper over paint to add extra detail with fun prints and patterns that set the tone of each room. For larger spaces, choose an accent wall where you can apply the wallpaper, which should work within the color scheme of the setting.

When you want to transform the inside of your home, these are a few decorations to choose from. By incorporating trendy decor looks, you'll create a stunning environment that will look chic and updated for several years to come.

Foreign Home-Buying in U.S. Bounds to Over $150 Billion

Foreign home-buying in the U.S. leaped 49 percent to $153 billion in the last year, a record high in the National Association of REALTORS® (NAR) Profile of International Activity in U.S. Residential Real Estate, recently released for 2017. The boost came as activity from Canada exploded to $19 billion, with buyers from China, India, Mexico and the UK also contributing considerable volume.



“The political and economic uncertainty both here and abroad did not deter foreigners from exponentially ramping up their purchases of U.S. property over the past year,” says Lawrence Yun, chief economist at NAR. “While the strengthening of the U.S. dollar in relation to other currencies and steadfast home price growth made buying a home more expensive in many areas, foreigners increasingly acted on their beliefs that the U.S. is a safe and secure place to live, work and invest.”

All told, foreign buyers purchased 284,455 U.S. homes from 2016 to 2017, with a sizable share of transactions taking place in California, Florida and Texas. Activity on the part of resident foreigners and non-resident foreigners both expanded—the former up 32 percent to $78.1 billion, and the latter up 72 percent to $74.9 billion.

“Although non-resident foreign purchases climbed over the past year, it appears much of the activity occurred during the second half of 2016,” Yun says. “REALTORS® in some markets are reporting that the effect of tighter regulations on capital outflows in China and weaker currencies in Canada and the UK have somewhat cooled non-resident foreign buyer interest in early 2017.”

The median sales price of homes bought by foreign buyers was $302,290, according to the Profile. Forty-four percent made all-cash purchases, and 10 percent made $1 million-plus purchases.

Buyers from China comprised $31.7 billion of the total volume between 2016 and 2017, followed by Canada, the UK at $9.5 billion, Mexico at $9.3 billion and India at $7.8 billion. Home-buying activity originating from Canada was concentrated in Florida, while activity originating from China was focused in California and activity originating from Mexico occurred in Texas.

“In 2016 Chinese investment in international and U.S. real estate hit a historic high,” says Sue Jong, chief of operations for Juwai.com. “While we think the dollar amount is likely to decline somewhat this year, investment levels are still in the foothills of this mountain range. There are higher peaks ahead. Chinese buyers trust the American market and believe it is a long-term safe bet. The U.S. is also the most popular destination for Chinese immigrants, students, and corporate investment. All of these factors drive property acquisitions.”

“Inventory shortages continue to drive up U.S. home values, but prices in five countries, including Canada, experienced even quicker appreciation,” says Yun. “Some of the acceleration in foreign purchases over the past year appears to come from the combination of more affordable property choices in the U.S. and foreigners deciding to buy now knowing that any further weakening of their local currency against the dollar will make buying more expensive in the future.”

For more information, please visit www.nar.realtor.

For the latest real estate news and trends, bookmark RISMedia.com.

Homes Have Never Been More Valuable Than They Are Now

The national median home value has careened to over $200,000 for the first time, with a 7.4 percent annual gain rocketing it to a new high of $200,400, according to the Zillow Home Value Index (ZHVI) in the June Zillow® Real Estate Market Reports. Values in 10 of the 35 major metropolitan areas assessed by Zillow are now within the $200,000 range.

Values are on a swift upswing due to low levels of supply and spiking demand. There are now 11 percent fewer homes for sale compared to one year ago, the Reports show.

“The national housing market remains red hot and shows no signs of slowing, even as some local markets like the Bay Area have noticeably cooled,” says Dr. Svenja Gudell, chief economist at Zillow. “But even in areas where the housing market has slowed, home values are at or very near peak levels, selection is limited, demand is high and competition is fierce.”

Of the markets assessed, values in 13 are still below the national median: Cleveland, Ohio ($134,600); Pittsburgh, Pa. ($137,400); Indianapolis, Ind. ($138,100); Detroit, Mich. ($141,000); St. Louis, Mo. ($148,600); Cincinnati, Ohio ($152,600); Kansas City, Mo. ($159,400); Columbus, Ohio ($162,500); San Antonio, Texas ($162,700); Charlotte, N.C. ($174,800); Houston, Texas ($178,400); Atlanta, Ga. ($179,900); and Tampa, Fla. ($185,700).

Twelve of the markets assessed, however, are far removed, with some sustaining values at least three times higher than the national median: San Jose, Calif. ($1,013,700); San Francisco, Calif., ($854,300); Los-Angeles-Long Beach-Anaheim, Calif. ($609,800); San Diego, Calif. ($548,000); Seattle, Wash. ($447,100); Boston, Mass. ($427,700); New York, N.Y. ($422,300); Washington, D.C. ($382,600); Denver, Colo. ($370,000); Sacramento, Calif. ($369,200); Portland, Ore. ($367,400); and Riverside, Calif. ($328,800).

The national median rent in the Zillow Rent Index (ZRI), meanwhile, has posted an annual gain of 1.1 percent, with the median rent totaling $1,422.

“Given these high costs and high competition, the most important thing you can do is get your finances in order so you know what you can comfortably afford, and find an agent who has experience with bidding wars and will help you stand out in a competitive market, especially if you’re buying for the first time,” Gudell says.

For more information, please visit www.zillow.com.

Suzanne De Vita is RISMedia’s online news editor. Email her your real estate news ideas at sdevita@rismedia.com.

Choose Your Battles When Buying a Home

A fenced-in yard. Double sinks. A wrap-around porch.  An open floor plan. Solar panels. There are just so many things we want our new home to have.

However, when shopping for our dream home, it’s essential to steer the dream a little bit more toward reality. No home will have every single feature you desire, so before you set out on the search, sit down, think hard and narrow down your list of must-haves.

Must-haves are usually rooted in practicality – a classic case of needs vs. wants. Some important musts, therefore, often involve:

• The number of bedrooms and/or potential to turn a room into an additional bedroom – are you planning on children? Need space for an in-law to move in?
• The master bedroom – is it big enough for your king bed and does it include a master bath?
• The number and condition of other bathrooms
• The yard – how much space and privacy do you need to be happy?
• The kitchen – do you need a new kitchen with high-tech appliances or are you willing to update down the road?
• Closet space – is there adequate storage for your current belongings with room to expand?
• The school district – an obvious factor if you have or are planning to have children, but also important if you don’t as it will affect your home’s resale value
• Proximity to work – are you willing to commute or is a walkable community a high priority?
• New construction – are you looking for a maintenance-free environment or the charm of an older home with DIY options?

Of course, your musts are very unique to you and, therefore, may vary from the above. The key factor in determining a must-have from a nice-to-have is whether it is something that can be cost-effectively and efficiently accomplished down the road, such as crown molding or an outdoor kitchen. Musts should be those features that are difficult and costly, if not impossible, to handle on your own, such as a bigger garage or a new roof.

Remember that above all, your “dream” home will be the one that grabs you for some intangible reason or for a combination of unexpected features you never knew you wanted until you saw them. So try to keep your must-list to a minimum and your open mind to a maximum—and most of all, enjoy the process.

Like this update? As your local real estate professional, I can provide more great tips like this and answer any real estate information questions you may have. Contact me today!

Tips for Veterans Buying a Home with a VA Loan

For veterans or service members looking to buy a home with a Veterans Affairs loan, there are some extra steps to take and home condition requirements that aren’t needed with other types of loans.

The home must be safe, clean, in good condition and move-in ready, partly because the U.S. Department of Veterans Affairs doesn’t want to back a loan where the military member’s finances are at risk because they have to make unexpected home repairs.

The extra work can be worthwhile. VA loans are 0.25 to 0.50 percent lower than conventional loans, don’t require a down payment or mortgage insurance, and have more flexible and forgiving requirements. Closing costs are limited and lenders fees are limited to 1 percent of the loan amount.

The government guarantees at least a quarter of the loan amount on a VA mortgage, which is why a down payment and mortgage insurance aren’t needed.

For buyers who qualify, here are some things to be aware of when buying a home with a VA loan:

Look for a move-in ready home: Homes that are structurally sound, safe and sanitary are more likely to pass the VA appraisal. The property must have adequate heating, roofing and safety features, and major issues must be repaired before the loan can close. If the VA expert has to return to reinspect something that needs to be fixed, the borrower will have to pay more inspection fees.

Be ready for an inspection: A home inspection is a normal part of buying a house, but a VA inspector will make sure the property is in good, working order. But a lot of the things they’ll be looking at are cosmetic, which a regular lender wouldn’t be concerned with. Though a VA inspection can sound like a professional home inspection, it isn’t and buyers can hire their own inspectors after the VA one if they’d like.

And more inspections: The VA also requires some inspections that other lenders don’t. A VA loan will require a pest inspection, along with a look at the septic tank, if there is one, and the water well if the property isn’t on a city water line.

Quicker timeline: VA loans have tighter timelines than other types of loans, which is why hiring a real estate agent and loan officer who have experience with VA loans can make the process smoother. Active-duty service members can have short buying windows if they’re ordered to move to another base.

I hope you found this real estate information helpful. Please contact me for all your real estate needs today!

Top 10 Plants for Designing a Water Wise Landscape

Wait! Before you spend thousands on landscaping—or on water-guzzling plants—try planting a DIY drought-tolerant garden. With the right plants, your landscape will be cost-effective, low maintenance, and beautiful.

Here is a list of ten plants that won’t break the water bank but will still let you enjoy lush greenery and flowers without having to replant every year. Just be sure to check your hardiness zone and your zone’s growing calendar before planting anything not mentioned on this list to ensure it can withstand your climate.

Northeast

GoldenrodGoldenrod is so easy to grow that some people call it a weed; it springs up practically everywhere once planted. If you don’t mind prolific yellow tufts that look cheerful in the late summer afternoons, then you’ll love goldenrod. These flowers top out at a couple feet high and bring lots of pollinators like butterflies and honeybees to your garden, so other plants will naturally grow and flourish.

Juniper
Juniper bushes are evergreen, providing a perfect backdrop for other plants during their growing and dormancy cycles. Whether it’s in the dead of winter or summer, you’ll have these fragrant and green bushes to look at. If you’re into attracting nature, you’ll especially love juniper; it was named one of the top 10 wildlife-friendly plants.

Southeast

Baby’s BreathBaby’s breath is ideal for garden filler flowers, bouquets, drying, and water-conscious people. This low-growing plant blooms all throughout summer and comes back each spring to do it all over again.

Purple Coneflower (Echinacea)
For a flower with healing powers, it’s amazing the purple coneflower doesn’t need much TLC itself. This flower loves full sun and soil that’s part sand, clay, and silt (loamy). Plant purple coneflowers in the summer, water until they’re established, and then enjoy purple, red, pink, and white flowers every summer and fall thereafter. Echinacea is beloved by butterflies too and grows well in nearly all hardiness zones.

Southwest

Desert ZinniaSeeing lush, beautiful blooms in the desert is a real treat, which is what makes the desert zinnia so rewarding. Just plant the desert zinnia once, and you can watch it bloom for months out of each year with little to no effort on your part. It’s perfect for hot, dry, and sandy southwestern states because it can withstand droughts and it comes back each year. Plus, its flowers are bright white, so they integrate easily into your other landscaping plans and color schemes. Start these plants from seeds and enjoy them for years to come.

Prickly Pear
The prickly pear is a cactus—ideal for desert climates. It also provides your landscaping with added security. These plants grow one-to-seven feet tall and may be planted around entrances to limit burglar hiding places and deter access. The prickly pear also looks pretty—with vibrant flowers in summer—and produces fruit for your family. No one other plant on this list has all these benefits.

Midwest

DaylilyIf you don’t have a green thumb, you’ll love the daylily. It grows perfectly well in most hardiness zones and doesn’t have a soil preference. Add on the fact that daylilies don’t have diseases or chronic pests, and it’ll be one of your favorite plants on your property. Once planted, enjoy brightly colored blooms without worry.

Lilac
The lilac is a low-water tree that never grows more than fifteen feet tall, making it perfect to add depth and dimension to your garden. Lilacs rely on the hard frost of the Midwest and Northeast to set its buds and return with velvety soft purple and pink flowers each spring. After the root system develops, you won’t need to do much more than pruning and fertilizing once per year.

West

SageSage is a perennial drought-tolerant herb. Though sage dies off in the winter, you can cut it back at the end of the summer, dry the leaves for cooking, and watch fresh new shoots emerge in early spring. The honeybees go crazy over the bright purple flowers that bloom in late spring, helping the plant double and triple in size in just a few growing seasons.

Yarrow
Yarrow is a lovely, bushy perennial that shows off yellow, red, orange, white, and pink flowers each year. It’s perfect for southern areas because it can stand the heat and some cooler temperatures. Yarrow loves full sun and well-drained soil. If given ideal growing conditions, you won’t have to water it at all and it’ll still grow to about four feet tall. Plus, local deer and rabbits don’t generally find yarrow appealing, so it’s less likely to get munched on.

Planting with purpose saves you money, time, and precious water. Plus, in some cases, the plants you choose can enhance your yard’s security or offer medicinal and nutritional value. Get to planting so this season and seasons to come will be more water-conscious and beautiful.

By Krystal Rogers-Nelson

Posted on Jul 5 2017 - 11:28am by Housecall  http://blog.rismedia.com/2017/top-10-plants-for-designing-a-water-wise-landscape/?utm_source=newsletter&utm_medium=email

When it comes to curb appeal, it is normal not to know where to begin. As your local real estate professional, I wanted to share this insightful infographic on winning ways to boost your homes facade. Using any of these five methods will assuredly increase the aesthetic value of your home. Just imagine the results if you can follow through on each point.