Expert Insights: Can I Split My Mortgage in Two and Pay Biweekly?

The biweekly mortgage has become increasingly popular as more people favor paying off their home loan early and reducing interest charges.

Monthly payments on these loans are split in half, payable every two weeks.

Because there are 52 weeks in a year, you actually have 26 half-payments, or the equivalent of 13 monthly payments per year instead of 12.

Under the biweekly payment plan, a homeowner can save tens of thousands of dollars in interest and pay off their loan balance in less than 30 years.

National Housing Trends February 2018

Angela Yglesias

Levesque Realty 

Cell: 805-490-4944   
Phone: 805-490-4944 

Housing Trends February 2018 View archives

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National market update

Existing-Home Sales Fade in December; 2017 Sales Up 1.1 Percent

WASHINGTON (January 24, 2018) — Existing-home sales subsided in most of the country in December, but 2017 as a whole edged up 1.1 percent and ended up being the best year for sales in 11 years, according to the National Association of Realtors®.





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Tired of Big-City Squeeze? Score a Bargain in America's 10 Cheapest Housing Markets

We live in a nation of sharply etched haves and have nots—and nowhere does that dividing line cut deeper than in the world of housing. Here at realtor.com®, we spend a lot of time chronicling the "haves," those soaring, seductive, sought-after metros where inexorable rises in home prices are rivaled only by unstoppable increases in wages, jobs, bleeding-edge trendiness, and four-star fusion chefs.





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National housing indicators

Existing home sales (Dec)

5.57 millions units*

Existing home median price (Dec)

$246,800

Housing Starts (Dec)

1.192 millions units*

New home sales (Nov)

0.733 millions units*

*Seasonally adjusted annual rate. Source: NATIONAL ASSOCIATION OF REALTORS®.

National economic indicators

Home ownership

4th Quarter 2017

64.2%

3rd Quarter 2017

63.9%

The homeownership rate of 64.2 percent was not statistically different from the rates in the fourth quarter 2016 (63.7 percent) or the third quarter 2017 (63.9 percent).

New home sales

October 2017

-9.3%

November 2017

+17.5%

Sales of new single-family houses in December 2017 were at a seasonally adjusted annual rate of 625,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 9.3 percent (±11.0 percent)* below the revised November rate of 689,000, but is 14.1 percent (±13.0 percent) above the December 2016 estimate of 548,000. An estimated 608,000 new homes were sold in 2017. This is 8.3 percent (±4.1 percent) above the 2016 figure of 561,000.

Source: U.S. CENSUS BUREAU

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View market statistics for your region.

Click on the links below to view data from two different industry sources. Choose information on local prices & state sales from any of 178 metropolitan housing markets prepared by the National Association of REALTORS® or information on sales & price activity from local area markets in 25 states prepared by Clarus MarketMetrics.

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Consumer tips & hot properties

Tired of Big-City Squeeze? Score a Bargain in America's 10 Cheapest Housing Markets

These metro markets have the least expensive home prices—and that's not all that brings people to town.



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The 3 Best Reasons to Buy a Home in 2018 (but You'd Better Hurry)

Yes, home prices have been sky-high and choices limited. But market conditions are changing, and this could be your year to buy—as long as you do it soon.



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5 Reasons It'll Pay to Sell Your Home Early in 2018

If you want to unload your home fast and for maximum bucks, your window of opportunity may be narrowing. Here's why.



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4 Rock-Solid Reasons to Remodel Your Home in 2018

The longer you wait, the more expensive it will be to renovate or remodel your home. So if you’ve been on the fence, this may be the year to get decisive. Here’s why.



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These Will Be the Year's Most Coveted Design Trends

Our stable of tastemakers has given us the ultimate scoop on the hottest interior design and decor trends for 2018. And trust us: It’ll be a gorgeous year.



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Existing Home Statistics

View statistics based on national data, regional data and data gathered from 159 cities & metropolitan areas.

National Statistics

• Housing Affordability Index
• National Existing Home Sales
• National Sales Price of Existing Homes

Statistics by City or Metropolitan Area

• Single-family Home Prices
• Condo/Co-op Prices

Regional Statistics

• Existing Home Sales
• Sales Price of Existing Homes
• Existing Single Family Home Sales
• Sales Price of Existing Single-Family Homes
• Existing Condo/Co-op Sales
• Sales Price of Existing Condo/Co-op Homes

Source: NATIONAL ASSOCIATION OF REALTORS®.

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How to Detect Carbon Monoxide Poisoning

Carbon monoxide poison is a silent danger that claims over 400 lives in the U.S. annually, as well as over 20,000 visits to the emergency room, according to the Centers for Disease Control and Prevention.

To keep your family safe, know the signs of carbon monoxide poisoning:

• Headaches
• Nausea
• Vomiting
• Dizziness
• Shortness of breath
• Fatigue

“Safety is our top priority at DTE Energy, and we urge residents to be particularly alert to carbon monoxide danger during the fall and winter heating season. It’s when CO exposure most frequently occurs,” says Brad Burcz, senior safety and health engineer, DTE Energy.  “One of the best defenses against CO poisoning is to install a carbon monoxide alarm near all sleeping areas in your home. If dangerous levels of CO are detected, an audible alarm will alert you.”

DTE offers the following tips to prevent CO poisoning in homes and businesses:

• For businesses, install carbon monoxide alarms in main areas away from vents and appliances or equipment that produce smoke or steam.
• Replace batteries in CO alarms annually.
• If a CO alarm is activated, or the presence of carbon monoxide is suspected, immediately get out of the house or building into fresh air, and if necessary, seek medical attention.
• Ensure all fuel-burning appliances are operating and venting properly.
• Get an annual furnace inspection by a licensed professional.
• Check yearly to verify flues, vents and chimneys are connected, in good condition and clear of debris.

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!

Source: dteenergy.com

5 Steps to a Healthier Home

Believe it or not, being healthy at home isn’t just about what’s happening in your fridge. Sure, it’s a good starting point, but there are actually many ways to create a pro-health environment throughout your home. Here are five simple ways to start.

1. Declutter the kitchen. In this case, we’re not talking about knickknacks—we’re talking about food. Go through your cabinets, pantry, fridge and freezer and say goodbye to anything that’s been lingering for way too long. Donate canned goods you’ve been saving ‘just in case,’ get rid of freezer-burned processed meals and old packages of crackers and snacks. Once your shelves are cleared out, start buying and eating mostly fresh items, picking up just what you need every couple of days as opposed to doing a mega shopping every couple of weeks.
2. Honor your eating area. If you’re wolfing down meals standing up at the kitchen counter or on the sofa in front of the TV, it’s likely that you’ve adopted some poor eating habits. Make sure your dining space is set to sit down and enjoy a mindful eating experience that includes quality time with your loved ones, as well. Not only will this lead to eating better prepared, healthier meals, it will force you to eat more slowly, which will help you avoid overeating.
3. Check the air quality in your most-frequented space. Whether it’s the living room or family room, make sure the air is healthy in the room in which you spend the most time. Dust and vacuum more often than usual (especially if you have pets or use a fireplace frequently), open the windows to circulate air, or use an air purifier or salt rocks to remove impurities. Add some house plants to help absorb carbon dioxide and release additional oxygen.
4. Carve a restorative niche. Whether it’s a small workout area, or a reading and meditation nook, everyone needs to build their own private space within the busy walls of their home. Whether it’s for exercise or simple quiet time, having a mini escape right at home is essential to both your physical and mental well-being.
5. Create a rest-inducing bedroom. Many of us aren’t getting enough sleep, which is at the root of a wide variety of health problems. Do a quick analysis of your sleeping quarters to make sure they’re conducive to a good night’s rest: Is your mattress well-suited for your sleeping needs? Is there a television that needs to go? Is the temperature cool enough? Is an after-hours quiet zone enforced? If not, get your bedroom in sleeping shape pronto. 

These five steps will help ensure your home is designed to serve both your physical and emotional health.
 
If you need more real estate information, feel free to contact me. 

Foundation to Roof: Energy-Efficiency from the Ground Up

“I start construction with precast concrete wall panels and then add an insulated basement slab to give my homes a head start on their high performance energy efficiency package. I'm building homes that are more than twice as efficient as a standard home built to ‘code.’”

So says Shawn Jessup, owner of S.D. Jessup Construction, Inc. in North Carolina. Jessup and builders like him are making strides in the energy efficiency arena, constructing new homes with energy-saving features from the foundation to the roof.

The foundation, Jessup notes, sets the “energy tone” for the entire home, calling for add-ons like extra insulation, foam-backed siding or structural insulated panels.

Entry points outfitted with ENERGY STAR®-qualified products also contribute to a home’s overall energy efficiency, adds Jeffery Nofziger, president of Haas Door.

“Advances in steel and aluminum bring both strong insulation factors and beauty to the garage door offerings for the home,” says Nofziger. “Mother Nature can throw some pretty nasty weather at a home, and a garage door takes the brunt of that weather.”

The roof, too, can be an energy-saver. According to the Cool Roof Rating Council (CRRC), roofs are exposed to direct sunlight more than any other feature, which can damage certain roofing materials over time. Jessup recommends using a synthetic tile roof to not only help deflect sunlight (and heat) from the home, but also to stave off roof repair or replacement.

For more on building an energy-efficient home from the ground up, visit Energy.gov or EnergyStar.gov.
 
Source: Superior Walls

Personal Space: 4 Ways to Add Privacy Inside and Out

While a cabin in the woods may not be your thing, there are times when we all crave a little privacy. No matter what your living environs may be, there are several strategies beyond fencing for creating private spaces both inside and outside your home.

Plant a tree wall. While this strategy takes a bit of patience, the payoff is big and permanent. Plant a border of fast-growing evergreen trees - try cypress, arborvitae, juniper or holly - along those perimeters of your yard that are exposed to the street or between you and your too-close neighbor.

Surround your deck or patio. If you’d like a little more privacy when entertaining, plant flowering trees, shrubs or tall grasses around your outdoor gathering space.

Experiment with fabric. Have a great front porch? Try adding breezy drapes that make a great design statement when gathered and drawn, and add romantic privacy when released. You can also section off a secluded area of your porch with an attractive screen.

Screened-in nooks. Screens also work to create private spaces inside your home. Use them to section off a corner of a living room or bedroom and use that space for a small desk, comfy chair or dressing table.

Rethink closet space. Whether it’s a large pantry or a walk-in closet in a bedroom, have it rejiggered to serve as a private workspace instead. Use the shelves to store supplies and add a small desk and chair.

Privacy is possible no matter how small your living space or how close your neighbors may be. Try these ideas and get more inspiration from Pinterest and your favorite home design sites.

If you’re looking for more information on homeownership, please contact me. 

5 Tips for Selling Your Home

Throwing on a new coat of paint inside and out can be a good start to preparing a home for sale, but there are plenty of other things home sellers can do to get their home ready to go on the market and get the best price possible for it.

Here are five things to do to help sell your house:

1. De-clutter and de-personalize. Buyers want to imagine your home as their home. That’s hard to do when your photos, knicknacks and even kitchen appliances are taking up countertop space or any other flat surface. Put away everything you can, including family photos, vacation souvenirs, religious items, stacks of CDs and as many personal items as possible.

2. Stage it. If your home is empty or your furniture isn’t in excellent condition, then stage your home by hiring a professional. This helps showcase your home in its best possible light.

3. Landscaping: Staging a home’s exterior can also help. This can include planting flowers, and painting or renting outdoor furniture for an open house. Make your back yard look like an inviting place for a Sunday brunch, and you just might attract more buyers.

4. Invite the neighbors over. As most real estate agents will tell you, some of the first visitors at an open house are neighbors looking for design ideas for their own homes. Or maybe they’re just nosy. Either way, it’s worthwhile to hold an early open house for neighbors only and turn it into a party with drinks and appetizers so they can spread the word about what a great deal your house is to house hunters they know. If nothing else, the early event might keep them out of your real estate agent’s hair when real buyers come over.

5. Post a video tour. Use your phone’s video to record a short walk-through of your home and post it on your Facebook page. Show the inside and outside of the home, and tell a few tales of what you love about the house. Your real estate agent can also hire a professional to shoot a video to place on the listing’s website.

There are plenty of other tactics you can employ to sell your home fast. One of the best strategies, however, is to hire a great real estate agent who has a track record of successfully selling homes in your area. They’re likely to have some excellent advice on how to move your home quickly for the best possible price.

Aaron Crowe is a freelance journalist who specializes in personal finance topics.

3 Things to Say "Yes" to This Year

As we struggle through our day-to-day routines, it can feel like we’re stuck in a wheel of negativity. Get out of this slump by saying yes more often. Read on for three things to say “yes!” to this year.

Social time. Your coworker asks you to go to an impromptu happy hour, your childhood friend invites you to a last-minute weekend girl’s getaway, or the mother of your child’s friend invites you in for tea when you had just planned to drop your kid and run. Many of us say no to social invites that our out of our normal routine and comfort zone. But by doing so, we’re closing ourselves off to new experiences and the brain boost that comes from face-to-face time. Say yes to more social invites and you may find your life feels fuller, and more fun.

Giving time. Does your friend need help moving or organizing a charity walk? Say yes when they ask if you can pitch in. Giving back is a great way to boost your spirits, and donating your time is just as valuable as making monetary contributions. The next time you hear of an opportunity to give back, answer with a big fat yes.

Travel time. Leaving the comfort of our own home expands our view of the world and makes us feel more fulfilled. The next time you’re invited on an outing, say yes, and then figure out how you can afford it. Can you sell some of the used items sitting in your basement? Rent out an extra bedroom in your home? Do some pet sitting? Cut back a few luxuries, like that weekly manicure or daily latte? If you commit, you will find a way to make it happen. Of course, it’s important to only commit to things in reason. A long weekend at the beach that may cost $500 is doable. A cruise to Europe that will set you back $3,000? Maybe not so much.

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!

Simple Ways to Make Your Older Home More Energy Efficient

While older homes are full of charm, characteristics and nuances that won’t be found in a newly constructed home, the odds are good that unless there have been some major upgrades over the years, its energy efficiency rating will be nowhere near that of a new home.
 
Still, older homes appeal to many buyers, and it’s easier to incorporate eco-friendly elements into an older home than it is to add charm to a newly built home.
 
If you’re attempting to sell an older home, and want to attract the eco-minded buyer, there are numerous things you can do to make the house more energy efficient.
 
To start, hire someone to come in and conduct an energy audit, or check with your utility company to see if they’re offered for free. During the audit, a professional will analyze the home and recommend a set of measures to improve energy performance, alerting you to areas of the home that are most vulnerable to energy inefficiency.
 
One of the easiest things you can do to increase an older home’s energy efficiency is better insulate the space. Purchasing insulation won’t break the bank, and a novice handyman can most likely handle the job. If you’re interested in going this route, there are plenty of DIY videos on YouTube to help guide you through the process. Be sure to pay attention to attics, crawl spaces, basements, heating and cooling ducts and the area around water pipes, as these spaces are typically lacking when it comes to insulation.
 
It’s also a good idea to cover your water heater with an insulated water heater blanket so the heater retains more heat and consumes less energy to heat the water.
 
Windows are another important area that can’t be overlooked when it comes to making an older home more energy efficient. If installing energy-efficient windows is out of your budget, another alternative is to use interior window Low-E (low-emissivity) films. Energy films block 97 percent of UV rays and 70 percent of thermal infrared light. Not only will this keep heat from getting in during the summer months, it will do wonders when it comes to retaining warmth during the colder months.
 
Ceiling fans are another great alternative for older homes. During the summer months, fans should circulate in a counter-clockwise direction to push cool air down. During the colder winter months, fans should rotate in a clockwise direction to produce a gentle updraft, forcing warm air near the ceiling down into the occupied space.
 
As far as upgrading appliances, adding energy-efficient refrigerators, dishwashers or washers and dryers will ultimately make the home more attractive to prospective buyers, however, it’s up to you and your agent to decide if the money spent updating appliances will lead to a faster sale.
 
And last but not least, if your foundation has cracks or your windows have holes, these should be fixed by a contractor, as repairing these items will help save money on heating and air conditioning bills. If you want to handle the job yourself, seal any areas where you feel air infiltrating your home.
 
To learn more about incorporating energy-efficient features into your home, contact me today!