Home Improvement

Finding The Best Lender

admin — Sun, 26 Feb 2012 09:48:33 +0000

You’re shopping for a mortgage and you’ve received four offers from four lenders. How do you choose? The first factor most people consider is the interest rate and other costs, but that’s only the beginning. You’ll also want to think about the lenders themselves, not simply the numbers they’re tossing your way.

Here are five steps to follow when determining which lender is right for you:

1. Compare fees as well as interest rates

Comparing loans based on their annual percentage rate (APR) is a good place to start, but it’s not enough. In the case of a mortgage, to get a more accurate breakdown of costs, ask the various lenders for a formal “good faith estimate” of all the fees you’ll incur with your loan — this is a standard form lenders must provide you that is more detailed than the overview you’ll get with an offer. Also, ask about potential charges that may not appear on that list, such as prepayment penalties. You’re not just comparing numbers here: determine how honest and upfront you feel the lender is being, and don’t use a lender that you feel is evading your questions.

2. Consider your individual circumstances

Bigger lenders aren’t necessarily better than smaller ones, especially if you have unusual circumstances. For example, some lenders specialize in loans for people with poor credit, while others may have more options for those with small down payments. If you have special borrowing needs, look for a lender with experience working with people in similar situations.

3. Look at the range of loan types available

There are more loan options available than ever before, so take advantage of all that choice. Look for a lender who offers a wide variety of loan types, from conventional fixed-rate and adjustable-rate to newer ones such as hybrid ARMs and option ARMs. Your lender should be able to match you with a mortgage that’s right for your financial situation and risk tolerance.

4. Evaluate the level of customer service

When you’re comparing offers, ask each lender about their policy regarding locking in their quoted rates and see whether there is a fee. Also, ask them to amend one of the terms (such as a payment cap) and see how willingly they agree. You’re looking for flexibility and responsiveness. And also note how well they listen to you. If you ask for a 30-year fixed-rate mortgage, they ought to present that as an option, not push you toward something different, such as an interest-only loan. If you’re not getting good service from a lender who is competing for your business, you’re not likely to get it after you’ve agreed to work with them.

5. Check out the lender’s reputation

Word of mouth is important in every business, including the loan market. If you’ve never worked with a particular lender, you’ll want to find out the opinion of people who have.

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Home Buying versus Renting

admin — Thu, 23 Feb 2012 14:40:39 +0000

A home is one of the most expensive purchases most of us will ever make during our lifetime. Whether you decide to rent or buy, either choice comes with its own rewards and risks. Homeownership offers many advantages over renting including:

Advantages of Buying versus Renting

Buying	Renting
Tax write-off	No tax write-off
You can upgrade your home as you see fit	Need permission to make any changes
Build equity in your home as value appreciates	Your money goes toward the landlords equity
Control of loan payment options	Rent can increase periodically
Pride of homeownership	You have no ownership

While owning your own home has many benefits, there are still risks to consider:

Disadvantages of Buying versus Renting

Buying	Renting
You’re responsible for property maintenance	Your landlord or manager handles general repairs
Need to sell, rent or lease property in order to re-locate. May have to wait until market conditions are right	Freedom to move once your lease expires
You pay for all your own utilities, property taxes and insurance	May include utilities, property taxes, and property insurance
Home improvement upgrades can run into thousands of dollars	You’re not financially responsible for improvements

However, all things considered, homeownership is by far one of the best single investments you can make given the potential long-term benefits.

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The Basics of Home Refinancing

admin — Thu, 23 Feb 2012 14:21:10 +0000

In recent years, millions of homeowners have taken advantage of low rates and refinanced their mortgages. This article describes the advantages and possible pitfalls associated with a “refi.”

Before You Start:

Remember that refinancing to reduce debt can be a smart move, but refinancing in order to borrow more for consumer purchases (car, vacation, etc.) could set you back significantly.
Read the fine print on your current mortgage to learn whether you’ll be assessed penalties or fees for “getting out” of that loan early.
Make sure you know whether you have a fixed or variable interest rate and what the terms are.

Home Refinancing Basics

In recent years, Americans seeking to take advantage of low interest rates have lined up to refinance their mortgages. In fact, refinancing hit an all-time high in 2003, and remained high in both 2004 and 2005, according to the Mortgage Bankers Association of America.

But while it’s true that refinancing has the potential to help you reduce the costs associated with borrowing money to own a home, it is not necessarily a strategy that makes sense for every individual in every situation. So before you make a commitment to refinance your mortgage, it’s important to do your homework and determine whether such a move is the right one for you.

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Added Seller’s Property Value

admin — Thu, 23 Feb 2012 14:03:11 +0000

There is difference between price and value. Price is the amount you are asking for the property. Value is buyer perceived, and this perception of value is influenced by many factors such as location, features, condition, comparison to other purchase option, etc. By attending to details that can have a positive impact on the value, sellers can significantly increase their chance of attracting qualified buyers willing to pay the asking price.

Some tips to achieve a positive impact on value are:

Perceived size impacts value, even more so than actual square footage. Open floor plans make a room feel bigger than larger spaces with smaller rooms. Showing property that is furniture free, or at reduced clutter, helps to make the space feel bigger.
Vacancy increases sale-ability. Property is easier to show and easier to sell, and quicker to take possession of when it is vacant at the time it is offered for sale. Evidence of problems to take possession of the property — such as encroachments, or tenants who wont allow buyer tours — negatively impact value. Vacancy also helps the buyer walk through the property imagining ownership. Sellers should remove personal trinkets and family pictures as well as being conveniently absent during a buyer tour.
Cosmetics are important.
- Fresh paint will always add more value than it costs.
- Clean or new carpet/flooring adds more value than it costs.
- Landscaping adds more value than it costs. At the very minimum, make the entrance area neat.
- If you can, add some colorful flowers and new sod.
Take care of the obvious! The spot on the ceiling from the roof leak takes thousands of dollars from the perceived value and the offer price.
Condition affects value. Do a seller’s home inspection to identify and fix the problem BEFORE closing. No point holding up your check a few extra days; plus a failed buyer’s inspection could cost you the sale. Buyers will often bargain down your asking price to accomodate for property condition and repairs.
If you can, remodel/update the kitchen and master bathroom. These two areas have a big impact on home buying decisions.
Strategic renovations impact value and your bottom line. Don’t spend more money to renovate the place than you can recapture in value on the sales price.

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Buying Your First Home (Guide II)

admin — Thu, 23 Feb 2012 14:01:03 +0000

How Much Mortgage Can You Afford?

Many mortgages today are being resold in the secondary markets. The Federal National Mortgage Association (Fannie Mae) is a government-sponsored organization that purchases mortgages from lenders and sells them to investors. Mortgages that conform to Fannie Mae’s standards may carry lower interest rates or smaller down payments. To qualify, the mortgage borrower needs to meet two ratio requirements that are industry standards.

The housing expense ratio compares basic monthly housing costs to the buyer’s gross (before taxes and other deductions) monthly income. Basic costs include monthly mortgage, insurance, and property taxes. Income includes any steady cash flow, including salary, self-employment income, pensions, child support, or alimony payments. For a conventional loan, your monthly housing cost should not exceed 28 percent of your monthly gross income.

The total obligations to income ratio is the percentage of all income required to service your total monthly payments. Monthly payments on student loans, installment loans, and credit card balances older than 10 months are added to basic housing costs and then divided by gross income. Your total monthly debt payments, including basic housing costs, should not exceed 36 percent.

Many home buyers choose to arrange financing before shopping for a home and most lenders will “pre-qualify” you for a certain amount. Prequalification helps you focus on homes you can afford. It also makes you a more attractive buyer and can help you negotiate a lower purchase price. Nothing is more disheartening for buyers or sellers than a deal that falls through due to a lack of financing.

In addition to qualifying for a mortgage, you will probably need a down payment. The 28 percent to 36 percent debt ratios assume a 10 percent down payment. In practice, down payment requirements vary from more than 20 percent to as low as 0 percent for some Veterans Administration (VA) loans. Down payments greater than 20 percent generally buy a better rate. Lowering the down payment increases leverage (the opportunity to make a profit using borrowed money) but also increases monthly payments.

How Much Home Can You Afford?

Bob and Janet’s combined income is $50,000 a year, or $4,166 a month. Their housing expense ratio of 28 percent yields a monthly maximum of $1,166 for mortgage, insurance, and taxes ($4,166 x 0.28 = $1,166).

Their total debt ceiling of 36 percent is $1,583 (4,166 x 0.36 = $1,500). Their monthly debt payments include a $200 car payment, credit card payments of $100, and student loan payments of $200. Subtracting this total of $500 from the $1,500 permitted leaves $1,000 in monthly housing payments.

Costs of Buying a Home

Many home buyers are surprised (shocked might be a better word) to find that a down payment is not the only cash requirement. A home inspection can cost $200 or more. Closing costs may include loan origination fees, up-front “points” (prepaid interest), application fees, appraisal fee, survey, title search and title insurance, first month’s homeowners insurance, recording fees and attorney’s fees. In many locales, transfer taxes are assessed. Finally, adjustments for heating oil or property taxes already paid by the sellers will be included in your final costs. All this will probably add up to be between 3 percent and 8 percent of your purchase price.

Ongoing Costs

In addition to mortgage payments, there are other costs associated with home ownership. Utilities, heat, property taxes, repairs, insurance, services such as trash or snow removal, landscaping, assessments, and replacement of appliances are the major costs incurred. Make sure you understand how much you are willing and able to spend on such items.

Condominiums may not have the same costs as a house, but they do have association fees. Older homes are often less expensive to buy, but repairs may be greater than those in a newer home. When looking for a home, be sure to check the actual expenses of the previous owners, or expenses for a comparable home in the neighborhood.

Choosing a Neighborhood

Before you start looking at homes, look at neighborhoods. Schools and other services play a large part in making a neighborhood attractive. Even if you don’t have children, your future buyer may. Crime rates, taxes, transportation, and town services are other things to look at. Finally, learn the local zoning laws. A new pizza shop next door might alter your property’s future value. On the other hand, you may want to run a business out of your home.

Look for a neighborhood where prices are increasing. As the prices of the better homes increase, values of the lesser homes may rise as well. If you find a less expensive home in a good neighborhood, make sure you factor in the cost of repairs or upgrades that such a house may need.

Finding a Broker

If you are a first-time home buyer, you will probably want to work with a broker. Brokers know the market and can be a valuable source of information concerning the home buying process. Ask lots of questions, but remember that most brokers are working for the seller, and in the end, their primary obligation is to the seller and not to you. An alternative is a so-called buyer’s broker. This individual does work for you, and therefore is paid by you. Seller’s brokers are paid by the seller.

Make sure that the broker has access to the Multiple Listing Service (MLS). This service lists all the properties for sale by most major brokers across the country. Brokerage commissions average 5 percent to 7 percent and are split between the listing broker and the broker that eventually sells the home. Don’t be surprised if your broker is eager to sell you their own listing since they would then earn the entire commission.

Home Buying Costs

Down Payment	0% – 20% of purchase price
Home Inspection	$200 – $500
Points	$1,000 and up for 1% – 3%
Adjustments	3% – 8% of purchase price

Once you’ve determined a price range and location, you’re ready to look at individual homes. Remember that much of a home’s value is derived from the values of those surrounding it. Since the average residency in a house is seven years, consider the qualities that will be attractive to future buyers as well as those attractive to you.

Although it can be difficult, try to remember that you will probably want to sell this home someday. The more research you do today, the better your decision will look in the years to come.

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Buying Your First Home

admin — Thu, 23 Feb 2012 13:56:34 +0000

Finding the right first home starts with a price range and a short list of desirable neighborhoods. But there are many other factors you’ll need to consider before investing in what may be your biggest asset.

Before You Start:

Grab your current household budget so you can consider your financial situation and your ability to make mortgage payments.
Ask family and friends if they can recommend experts, like a lawyer and an inspector, who can help with the home buying process.
Think about your lifestyle and how it might affect your choice of home and neighborhood.
Do a little research on current home prices in the neighborhoods you plan to target.

Buying Your First Home

Home ownership is the cornerstone of the American Dream. But before you start looking, there are a number of things you need to consider. First, you should determine what your needs are and whether owning your own home will meet those needs. Do you picture yourself mowing the lawn on Saturday, or leaving your urban condo for the beach? The best advice is to look at buying a home as a lifestyle investment, and only secondly as a financial investment.

Even if housing prices don’t continue to increase at the torrid pace seen in recent years in many areas, buying a home can be a good financial investment. Making mortgage payments forces you to save, and after 15 to 30 years you will own a substantial asset that can be converted into cash to help fund retirement or a child’s education. There are also tax benefits.

Like many other investments, however, real estate prices can fluctuate considerably. If you aren’t ready to settle down in one spot for a few years, you probably should defer buying a home until you are. If you are ready to take the plunge, you’ll need to determine how much you can spend and where you want to live.

Buying a home can mean building significant value through the years.
Think carefully about how much you can afford to spend and consider borrowing guidelines like those used
Pre-qualifying with your lender is a good way to determine how much house you can afford.
You will need cash for a down payment and closing costs. Generally speaking, the higher the down payment, the lower the interest rate and monthly mortgage payment.
In addition to your mortgage payments, you will also need to consider the other costs of home ownership.
Schools, taxes, services, crime rates, transportation, and zoning are important considerations when selecting a neighborhood.
Brokers usually represent the seller, but they can be valuable sources of information for buyers as well. A broker that belongs to the Multiple Listing Service will be able to offer a wider variety of homes to choose from.
Remember to consider resale value when buying your home.

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Buying Your First Home (1)

Sharp KB-6100NS Stainless Warming Drawer

admin — Sun, 22 Jan 2012 00:34:16 +0000

Designed to coordinate beautifully with Sharp’s microwave drawer oven, this 30-inch-wide electric warming drawer installs below the microwave for additional heating space–great for use in an island or open-plan kitchen. The warming drawer’s large-capacity stainless-steel interior measures 22 by 24 by 6 inches for 1-4/5 cubic feet of space that easily accommodates oversized plates and serving dishes. A half-size wire rack comes included for stacking one item over another. To use the appliance, simply open the drawer to access its concealed Auto-Touch controls with indicator lights. Press the “power” button to turn the unit on (or off); choose from six precise temperature settings: 90, 125, 150, 175, 200, or 230 degrees F; and set the timer for “Continuous On”, 30 minutes, or from one to four hours in one-hour increments. The control panel wipes clean easily as needed. In addition, variable humidity control located just inside the drawer can be set to “moist”, which closes the air vent to keep casseroles, oatmeal, eggs, pancakes, or vegetables from drying out; or it can be set to “crisp”, which opens the air vent and allows moisture to escape, keeping foods like tortilla chips, pizza, and fried foods perfectly crisp. Other highlights include an exterior “on” indicator light, automatic shut-off at the end of the preset time, and ball-bearing glides that fully extend the warming drawer for maximum convenience and accessibility. The 450-watt UL-listed warming drawer with its handle measures 26 by 30 by 10-3/4 inches and carries a one-year limited warranty.

Sharp KB-6100NS Stainless Warming Drawer. The Sharp Microwave Drawer Oven has proven to be the best solution yet for where to place the microwave. It’s the perfect choice for islands and open-plan kitchens as well as wet bars, family rooms and home theaters. Now Sharp introduces a fully-featured Warming Drawer designed to match perfectly. The handles, contour and color of these two appliances coordinate beautifully. Together or separately, they provide the style and convenience you are looking for in a newly designed kitchen.

Product Features
Color: Stainless
450-watt electric warming drawer with 1-4/5-cubic-foot stainless-steel interior
Concealed Auto-Touch control panel; 6 temperature settings; timer with auto shut-off or continuous on
Variable humidity control for moist or crisp results; exterior “on” indicator light
Coordinates with Sharp’s microwave drawer oven; half-size wire rack included
Measures 26 by 30 by 10-3/4 inches; 1-year limited warranty

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Hoover SteamVac Carpet Cleaner with Clean Surge

admin — Sun, 22 Jan 2012 00:10:16 +0000

This powerful home steam vacuum saves you the expense and hassle of having to rent a steam cleaner to keep rugs, upholstery, and bare floors (other than hardwoods) looking like new. The powerful 12-amp motor combined with five spinning brushes that operate at either high or low speed lift the dirt and grime out of carpets. By pulling on the trigger in the comfortable upright handle, this deep cleaner releases the included carpet/upholstery cleaner and hot tap water.

For more stubborn stains or for high-traffic areas, this SteamVac also has a Clean Surge feature, which sends an extra blast of cleaning solution into the stain by simply pressing a button on the handle. When cleaning is complete, release the trigger and the SteamVac forces hot air into the cleaning path so you can do a few dry strokes over the stain.

This deep cleaner has two separate water tanks to keep clean water apart from dirty water. The top tank holds the detergent and one gallon of hot water and automatically mixes the two so you don’t need to get your hands wet. The lower tank holds the dirty solution picked up from the carpet and unlatches to easily pour out into a sink without spilling.

For cleaning stairs or upholstery, this deep cleaner has a long 8-foot hose and a special stair/upholstery nozzle to scrub out spots. Other features of this deep cleaner include a brush indicator, which informs you that the brushes are spinning; an on/off foot pedal; a handle release pedal; and a 20-inch wraparound cord. The Hoover SteamVac is covered by a full one-year warranty.

Hoover SteamVac Features

• SpinScrub – multi-directional brushes surround carpet fibers, to remove dirt at every angle

• 3-Speed Brushroll Control – High for normal cleaning, low for gentle cleaning, off for spill pick-up

• Tool Mode – stops scrubbing brushes to protect hard flooring

• Removable Brushes – pop out for easy rinsing

• Clean Surge Control – fingertip control applies extra detergent to stains and heavy traffic areas

• Heated Drying – applies heat to floor to speed drying time

• 8′ Stretch Hose – provides instant extended reach

• Dual Tanks – easy-to-fill tanks keep cleaning solution and dirty water separate

• No Belts – never change or replace or break a belt

• Powerful 12-amp Motor – has all the power needed to get floors truly clean

• Carpet/Upholstery Detergent – Includes one 16 oz bottle of powerful cleaning detergent

• Limited one-year warranty

• On Board Tools: SpinScrub Powered Hand Tool puts hard-to-reach cleaning in the palm of your hand: perfect for stairs, upholstery and stains.

for more details please visit:

Hoover SteamVac Carpet Cleaner with Clean Surge

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LED Patio Umbrella Light

admin — Sat, 21 Jan 2012 05:21:22 +0000

LED Umbrella Lights is product from PatioUmbrellas.com! Light up your evening and extend your outdoor leisure time with the LED Umbrella Light! This light features a self-adjusting clamp to lock onto umbrella poles sized from 1.25 to 2 inches in diameter. It is cordless and uses an AC adapter (110V) to charge the unit. This battery-rechargeable unit has 24 long-lasting LED lights that will last over 30 000 hours! Charge time is approximately 6 hours and a fully charged light will run for approximately 8 hours. The low voltage of the lamps will not attract bugs.

This light is waterproof but not meant to be used under water. To increase the lifespan of this light store it upside-down in a dry place.

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Numatic Vacuum Cleaner with AutoSave Technology

admin — Fri, 20 Jan 2012 23:20:52 +0000

Numatic HVR200A Powerful Canister Vacuum Cleaner with Accessory Tool Kit Outfit The Numatic Henry 2-stage Professional Home Vacuum Cleaner HR200A, features the new AutoSave Technology, a generous Tritex filter system, and giant high efficiency HepaFlo dust bags. The outfit also includes a 10-piece Accessory Tool Kit. This famous Numatic “Henry” is a top-selling professional-motor hi-quality powerful vacuum cleaner for the home, or anywhere else. The Vacuum Cleaner with the famous smile, loved and appreciated by users the world over.

The “Henry” Accessory Tool Kit includes a Stainless Steel Tube Bend with Volume Control; Two Extension Tubes, a 11.5″ Combination Floor Nozzle; a Double Taper Hose/Tool Adaptor; a 9″ Crevice Tool; a Soft Dusting Brush; a 6″ Upholstery Nozzle; and a 6″ Slide-on Brush for the Upholstery Nozzle.

Product Features
Europe’s Deluxe Best-Seller Numatic Canister Vacuum Cleaner with Full Twinflo’ 2-stage professional motor, providing exceptional performance – and UNIQUELY QUIET nevertheless.
The 30-foot cable storage and rewind system is a work of art, and keep everything neat and tidy.
Very Powerful on the Suction, but quieter than its peers. Giant high efficiency HepaFlo dust bags are really clean and easy for empting
AutoSave means that everytime you switch the machine on, it will start in the economy setting and only if more power is needed to cope with the extra dirt, will you need to operate in Hi Mode.
Includes an Accessory Tool Kit with Stainless Steel Tubes.

Numatic Top-Seller Hi-Power (but quiet) 2-stage Professional Canister Vacuum Cleaner with AutoSave Technology, with the A1 Accessory tool kit, HVR200A