Written By Phoebe Chongchua of Realty Times
As the fall season sets in and the weather gets colder, it's just another reason to spend more time in the kitchen cooking up warming soups and maybe some hot cider. But no matter which season, kitchens and great rooms tend to be very popular for homeowners and, of course, buyers.
For this reason, it's important to make sure your cabinets are looking good--not laden with holes from chipped or worn off paint or stain. Kitchen cabinets often take a beating from all the opening and closing of the doors and drawers; however getting them looking good again can seem like an overwhelming project.
According to the National Kitchen & Bath Association, "The variables that affect the cost of kitchen cabinets relate to quality, appearance, and functional effectiveness."
So, if you're really sprucing them up and using high-end handles, adding more shelving inside them, the costs will rise. But what if the insides of your cabinets aren't really in poor condition? Maybe the hinges and the hardware are still in good shape, it's just the outside that could use a makeover.
That's when giving your cabinets a new face might be your best option. Stripping the cabinets and painting or refacing them can add a lot of value to the overall appeal of the home without incurring the bigger expense of replacing your cabinets.
The NKBA says that, "This will cost about half of what you would spend for comparable new kitchen cabinets, but such a strategy will only work if the basic room configuration and cabinet placement in your existing kitchen are to remain the same." However, if your cabinets are sagging or you need a new configuration for more space, for instance, this option won't work. But, again, if your cabinets simply need a new face, this can be a good solution especially when you're listing your home for sale. The investment isn't nearly as high as replacing them.
There are a few steps involved in refacing: remove/prep the veneer, strip the surface, fill in missing chips, clean cabinets, apply new veneer and trim, prep veneer, and finally stain and finish. Some homeowners decide to do their own handyman work.
There are many articles on the step-by-step process, so this column won't focus on that but instead will let you know a few things that you should be aware of to ward off bigger problems. Actually, the first is an issue I had when refacing my kitchen cabinets. (After one painter messed up the cabinets, I ended up having to hire a qualified professional to successfully finish the job.) What you should know before you start. Especially in tract homes, certain types of cabinets may have a protective layer (veneer) on top of the wood or pressed particle board. If you remove this layer you can end up with a big mess. While it often chips off over the years, and appears easy to remove, in fact you can peel it off with your finger tips, removing it completely will require the under material to be sanded and prepped so that the surface will allow paint to stick to it. But, removing it may also cause harm to the cabinets.
"Most kitchen cabinets are made with pre-veneered laminated wood (particle board in some cases) and the hardwood veneer is rolled onto the laminated wood with terrifically high pressure and in most case you would damage the wood underneath trying to remove the veneer," according to RefinishFurniture.com. The site indicates that the old veneer can be left on as a base. The old must be lightly sanded to remove the finish and then a new veneer can be added. RefinishFurniture.com also recommends marking all the cabinet doors before you remove them to strip them or prep them for paint or stain. It'll save you so much time and frustration when you go to put them back on.
Another word of advice. While many homeowners like the do-it-yourself projects, when you're selling your home, this kind of project can become tedious and too time consuming. Refacing your cabinets will help your home show better but the question is: Do you do-it-yourself or hire a company to do what they do best? Either way, newly painted or stained cabinets go along way when it comes time to sell your home.
Do you need help with selling your home? Call us at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, September 29, 2010
Monday, September 27, 2010
Homeowner’s Insurance Basics
Provided By Real Estate ABC
Homeowners insurance exists because a home is a huge investment, often one of the largest purchases many people make in their lifetimes. Naturally, people want to protect the value of their precious property. Homeowners insurance is a contract between a homeowner and an insurance company. As long as the owner pays the required premiums and meets the other policy requirements, the insurance company guarantees to reimburse the owner for any losses incurred due to natural disasters or human-caused damage.
WHAT DOES IT COVER?
A basic homeowner’s insurance policy protects the owner against any property damage that results from things like fire, lightning, wind or hail storms. It will also provide for motel and food costs if you are forced to leave your home while such damages are repaired.
A typical policy, however, does not cover flood or earthquake damage. Because these issues are usually specific to certain regions of the country and can cause extreme damage, these can be purchased as separate policies. If you live in a flood zone or near an earthquake fault line you may be required by your mortgage company to carry these protections.
A basic policy will also cover homeowners against loss from theft or vandalism as well as reimbursement for personal property destroyed in natural disasters. It will also provide for something that many people may not normally associate with home protection – liability coverage for lawsuits brought against the owner by people who were injured on the property. This includes the cost of legal defense up to the allowed policy limit. Additionally, most policies will have a provision that will cover the basic medical expenses for the parties.
IS IT REQUIRED?
Homeowners insurance is almost universally required by mortgage companies with the purchase of a home. This is because the investment is almost as big for them as it is for you. They want to make sure the property is protected from major damages so that if you are ever unable to keep up with your payments, the lender can then reclaim ownership and be able to sell it fairly easily. And even if you own your home outright, a good insurance policy is still the best way to protect the value of your home in the face of the unexpected.
If you need guidance about the "ins and outs" of real estate, give us a call at 972-772-7000 or email us at rockwall@kw.com.
Homeowners insurance exists because a home is a huge investment, often one of the largest purchases many people make in their lifetimes. Naturally, people want to protect the value of their precious property. Homeowners insurance is a contract between a homeowner and an insurance company. As long as the owner pays the required premiums and meets the other policy requirements, the insurance company guarantees to reimburse the owner for any losses incurred due to natural disasters or human-caused damage.
WHAT DOES IT COVER?
A basic homeowner’s insurance policy protects the owner against any property damage that results from things like fire, lightning, wind or hail storms. It will also provide for motel and food costs if you are forced to leave your home while such damages are repaired.
A typical policy, however, does not cover flood or earthquake damage. Because these issues are usually specific to certain regions of the country and can cause extreme damage, these can be purchased as separate policies. If you live in a flood zone or near an earthquake fault line you may be required by your mortgage company to carry these protections.
A basic policy will also cover homeowners against loss from theft or vandalism as well as reimbursement for personal property destroyed in natural disasters. It will also provide for something that many people may not normally associate with home protection – liability coverage for lawsuits brought against the owner by people who were injured on the property. This includes the cost of legal defense up to the allowed policy limit. Additionally, most policies will have a provision that will cover the basic medical expenses for the parties.
IS IT REQUIRED?
Homeowners insurance is almost universally required by mortgage companies with the purchase of a home. This is because the investment is almost as big for them as it is for you. They want to make sure the property is protected from major damages so that if you are ever unable to keep up with your payments, the lender can then reclaim ownership and be able to sell it fairly easily. And even if you own your home outright, a good insurance policy is still the best way to protect the value of your home in the face of the unexpected.
If you need guidance about the "ins and outs" of real estate, give us a call at 972-772-7000 or email us at rockwall@kw.com.
Friday, September 17, 2010
First Time Home Buyers
Provided By MyKW
Looking to buy your first home? Call an experienced agent at 972-772-7000 or email us at rockwall@kw.com.
Looking to buy your first home? Call an experienced agent at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, September 15, 2010
Time to Snag a Low Mortgage Rate
By Cameron Huddleston, Kiplinger.com
If you've been thinking about refinancing your mortgage, now is the time to act. The 30-year fixed-rate mortgage is at a 25-year low of 4.35%, according to Bankrate.com.
Refinancing is a great way to put more cash back into your budget. My husband and I are in the process of refinancing our mortgage, which will lower our monthly payment by $400 because our new rate will be about 2 percentage points lower than our current one. However, if you have a fixed rate that is only slightly higher than current rates, refinancing might not make sense for you.
Remember, you have to pay closing costs when you refinance. If you don't plan to stay in your home much longer, you might not recoup the cost of refinancing before you sell. To figure out the number of months it will take to break even, divide the amount of estimated closing costs (usually 3% to 6% of the mortgage) by the amount of monthly savings you expect. You also can use our Am I Better Off Refinancing? calculator for help.
If you want to refinance, you also need to consider these things:
-- To get the best rate, your credit score must exceed 720. (You can check your score at myFICO, which now is offering free scores when you sign up for a trial membership in Score Watch. You must cancel your membership in 10 days if you want to avoid being charged $12.95 each month.)
-- Your debt needs to be under control. To get a mortgage or refinance, your monthly housing expenses shouldn't exceed 28% of your gross monthly income, and your total debt shouldn't top 36% of gross income (but lenders stretch it to 45% in some cases).
For more information about what about you need to get a loan and how to get the lowest rate, see What It Takes to Get a Mortgage.
Are you ready to purchase a home with a low mortgage rate? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
If you've been thinking about refinancing your mortgage, now is the time to act. The 30-year fixed-rate mortgage is at a 25-year low of 4.35%, according to Bankrate.com.
Refinancing is a great way to put more cash back into your budget. My husband and I are in the process of refinancing our mortgage, which will lower our monthly payment by $400 because our new rate will be about 2 percentage points lower than our current one. However, if you have a fixed rate that is only slightly higher than current rates, refinancing might not make sense for you.
Remember, you have to pay closing costs when you refinance. If you don't plan to stay in your home much longer, you might not recoup the cost of refinancing before you sell. To figure out the number of months it will take to break even, divide the amount of estimated closing costs (usually 3% to 6% of the mortgage) by the amount of monthly savings you expect. You also can use our Am I Better Off Refinancing? calculator for help.
If you want to refinance, you also need to consider these things:
-- To get the best rate, your credit score must exceed 720. (You can check your score at myFICO, which now is offering free scores when you sign up for a trial membership in Score Watch. You must cancel your membership in 10 days if you want to avoid being charged $12.95 each month.)
-- Your debt needs to be under control. To get a mortgage or refinance, your monthly housing expenses shouldn't exceed 28% of your gross monthly income, and your total debt shouldn't top 36% of gross income (but lenders stretch it to 45% in some cases).
For more information about what about you need to get a loan and how to get the lowest rate, see What It Takes to Get a Mortgage.
Are you ready to purchase a home with a low mortgage rate? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, September 13, 2010
Foreclosures' impact on kids and communities weighed
Published By Ruth Mantell, MarketWatch
WASHINGTON (MarketWatch) -- Children could be prevented from realizing their potential in school and, eventually, the labor force as consequences from the problem of home foreclosures last for years, a Federal Reserve official said Thursday.
"A foreclosure is likely to mean not only a loss of home, but also a disruption in where, or whether, kids are in school," said Eric Rosengren, president of the Federal Reserve Bank of Boston, at a Fed conference in Washington about neighborhood stabilization. "Since foreclosure is often related to unemployment, marital stress, or physical ailments, the foreclosure is likely to make it difficult for even the most determined student to excel."
Rosengren added that he is encouraging staff to look at how children are affected by foreclosures. Read more about the conference.
Foreclosures may be a symptom of "broader problems" having effects on neighborhoods, such as high rates of unemployment and property crime, Rosengren said. He noted that higher foreclosure rates could exacerbate such problems.
"My own view is that too little focus has been on community problems because the focus has been more targeted to housing and foreclosures," Rosengren said.
Areas with high concentrations of real estate owned properties -- properties held on the books of banks typically after failing to sell at foreclosure auctions -- have also been associated with greater incidence of babies with low birth weight, higher high-school dropout rates and more frequent failures on statewide math tests.
States and the federal government may need to examine how to address the broader problems in these communities, Rosengren said, including "potentially looking at revenue sharing that provides a flexible way to address the fiscal gap faced by many of our hard-pressed communities."
Also speaking Thursday at the neighborhood stabilization event, Sandra Pianalto, president of the Cleveland Fed, said "decades of progress" have been wiped away in the past few years in many low-income communities.
'Collateral damage'
"The longer properties remain vacant, the more collateral damage is done to property values nearby, and it doesn't take long for neighborhoods to suffer from increased crime, arson, and blight," Pianalto said. "We are still far from a recovery in the housing markets in our region. The losses and hardship that our neighborhoods have experienced is staggering."
The housing-market collapse resulted from "a destructive cycle that feeds on itself," Pianalto said.
"In our region, mortgage delinquencies led to a high number of foreclosures, which led to an oversupply of housing, which led to home prices depreciating and borrowers and financial institutions taking on big losses," Pianalto said. "To break this cycle, a coordinated set of policies is needed to target multiple points of the breakdown in the housing market."
She said loan modifications alone won't be enough to address the housing crisis, noting that the main reason that most borrowers cite for needing assistance is income loss due to the weak economy.
"We have learned that numerous interventions are required to address the multiple causes and consequences of the foreclosure crisis, and we will continue to focus our outreach and analysis on understanding and contributing to solutions in real time," Pianalto said. "A healthy housing sector is critical both to the overall economy and to a sustainable economic recovery."
Facing foreclosure? There are other options, to learn what you can do to avoid foreclosure call us at 972-772-7000 or email us at rockwall@kw.com.
WASHINGTON (MarketWatch) -- Children could be prevented from realizing their potential in school and, eventually, the labor force as consequences from the problem of home foreclosures last for years, a Federal Reserve official said Thursday.
"A foreclosure is likely to mean not only a loss of home, but also a disruption in where, or whether, kids are in school," said Eric Rosengren, president of the Federal Reserve Bank of Boston, at a Fed conference in Washington about neighborhood stabilization. "Since foreclosure is often related to unemployment, marital stress, or physical ailments, the foreclosure is likely to make it difficult for even the most determined student to excel."
Rosengren added that he is encouraging staff to look at how children are affected by foreclosures. Read more about the conference.
Foreclosures may be a symptom of "broader problems" having effects on neighborhoods, such as high rates of unemployment and property crime, Rosengren said. He noted that higher foreclosure rates could exacerbate such problems.
"My own view is that too little focus has been on community problems because the focus has been more targeted to housing and foreclosures," Rosengren said.
Areas with high concentrations of real estate owned properties -- properties held on the books of banks typically after failing to sell at foreclosure auctions -- have also been associated with greater incidence of babies with low birth weight, higher high-school dropout rates and more frequent failures on statewide math tests.
States and the federal government may need to examine how to address the broader problems in these communities, Rosengren said, including "potentially looking at revenue sharing that provides a flexible way to address the fiscal gap faced by many of our hard-pressed communities."
Also speaking Thursday at the neighborhood stabilization event, Sandra Pianalto, president of the Cleveland Fed, said "decades of progress" have been wiped away in the past few years in many low-income communities.
'Collateral damage'
"The longer properties remain vacant, the more collateral damage is done to property values nearby, and it doesn't take long for neighborhoods to suffer from increased crime, arson, and blight," Pianalto said. "We are still far from a recovery in the housing markets in our region. The losses and hardship that our neighborhoods have experienced is staggering."
The housing-market collapse resulted from "a destructive cycle that feeds on itself," Pianalto said.
"In our region, mortgage delinquencies led to a high number of foreclosures, which led to an oversupply of housing, which led to home prices depreciating and borrowers and financial institutions taking on big losses," Pianalto said. "To break this cycle, a coordinated set of policies is needed to target multiple points of the breakdown in the housing market."
She said loan modifications alone won't be enough to address the housing crisis, noting that the main reason that most borrowers cite for needing assistance is income loss due to the weak economy.
"We have learned that numerous interventions are required to address the multiple causes and consequences of the foreclosure crisis, and we will continue to focus our outreach and analysis on understanding and contributing to solutions in real time," Pianalto said. "A healthy housing sector is critical both to the overall economy and to a sustainable economic recovery."
Facing foreclosure? There are other options, to learn what you can do to avoid foreclosure call us at 972-772-7000 or email us at rockwall@kw.com.
Friday, September 10, 2010
Maintain an Organized Entryway
Published By Realty Times
Written By Carla Hill
The goal of homeowners everywhere should be to have not only functional, but beautiful entryways.
The reasoning is simple. For most families, entryways see a lot of traffic. And it can easily become a dumping ground. They house shoes, coats, purses, and keys, as well as often used toys and tools.
And for every home, the entryway is the very spot where guests and buyers will form their first impression. This means disorganized is out and clean is in. Let's look at a few simple design and organization tips that can take your entryway from shab to fab.
The key to a clutter-free entry is storage. Option one would be built-in cabinetry. Pick materials and colors that follow the design ascetic of your home. Traditional homes look great with clean, white cabinetry and simple pulls. A more eclectic home can dare to use colorful patterns and bold hardware. Hang and fold your items and then shut away the clutter.
If you don't have room for built-ins, then consider a free-standing shelving unit with cubbies. Baskets are an attractive way to keep everything from mittens and hats to ball gloves and racquets organized. And use smaller cubbies for shoes!
Have even less space? Even simple hooks can have a great organizing effect.
The next tip is to have some sort of seating. Make an inviting spot for children to sit while removing winter boots. Bench seating with storage underneath can be a perfect combination of functionality and looks, and you can add a pop of color with a colorful cushion.
Pay careful attention to flooring choices in your entryway. You want something that is durable and hides dirt easily. A popular trend in today's home is slate tile, with its dark hues doing wonders for masking dirt.
If your entryway is more formal and you choose not to have any cabinets, then be sure to hide away coats and clutter in the nearest closet. A simple console table with drawers can be used to hold keys and phones. Consider installing a docking station in the drawers of the table to hide chargers and cables for iPods and phones.
These simple tips can make a big difference in keeping your entry organized.
Looking for more simple tips and tricks to organize your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Written By Carla Hill
The goal of homeowners everywhere should be to have not only functional, but beautiful entryways.
The reasoning is simple. For most families, entryways see a lot of traffic. And it can easily become a dumping ground. They house shoes, coats, purses, and keys, as well as often used toys and tools.
And for every home, the entryway is the very spot where guests and buyers will form their first impression. This means disorganized is out and clean is in. Let's look at a few simple design and organization tips that can take your entryway from shab to fab.
The key to a clutter-free entry is storage. Option one would be built-in cabinetry. Pick materials and colors that follow the design ascetic of your home. Traditional homes look great with clean, white cabinetry and simple pulls. A more eclectic home can dare to use colorful patterns and bold hardware. Hang and fold your items and then shut away the clutter.
If you don't have room for built-ins, then consider a free-standing shelving unit with cubbies. Baskets are an attractive way to keep everything from mittens and hats to ball gloves and racquets organized. And use smaller cubbies for shoes!
Have even less space? Even simple hooks can have a great organizing effect.
The next tip is to have some sort of seating. Make an inviting spot for children to sit while removing winter boots. Bench seating with storage underneath can be a perfect combination of functionality and looks, and you can add a pop of color with a colorful cushion.
Pay careful attention to flooring choices in your entryway. You want something that is durable and hides dirt easily. A popular trend in today's home is slate tile, with its dark hues doing wonders for masking dirt.
If your entryway is more formal and you choose not to have any cabinets, then be sure to hide away coats and clutter in the nearest closet. A simple console table with drawers can be used to hold keys and phones. Consider installing a docking station in the drawers of the table to hide chargers and cables for iPods and phones.
These simple tips can make a big difference in keeping your entry organized.
Looking for more simple tips and tricks to organize your home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, September 8, 2010
What is it like to live in Rockwall?
Provided By Nelida Spurell
Source YouTube
Are you looking for your perfect Rockwall home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Source YouTube
Are you looking for your perfect Rockwall home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Monday, September 6, 2010
10 Tips to Help You Save $1,000 By The Holidays
Written By Stacy Johnson of Money Talks News
Provided By Shelley Dudley
If you're like many people, at the beginning of every year you resolve to get your finances in better shape by paying off debt and adding to your savings. But like many resolutions, the reality often doesn't meet the goal.
All is not lost. There are still five full months left in the year -- time for a quick review of simple ways to save. The goal? To set aside at least an extra thousand dollars by Christmas, without sacrificing your quality of life. Going on a "dollar-diet" is no way to get the job done -- painless savings are the only kind you should attempt because they're the only kind that work.
Simple Savings
Lower your cell phone bill. Potential savings: $100. If you're not using minutes you're paying for, switch to a cheaper plan. That could save you $20 a month, or $100 by Christmas.
Lose your land line. Potential savings: $140. If you find that your land line is gathering dust, lose it. And even if you want to keep your land line, if you have a broadband internet connection, get your phone service through it rather the phone company. A service like Magic Jack will give you unlimited calling for $2/month rather than the $30 you might be paying for traditional phone service providers.
Staycation instead of vacation. Potential savings: $1,000+. The savings from staying home vs. traveling for vacation are obvious. The trick is to maintain your quality of life while you do it. No working allowed. Turn off the computer and the phone. Relax, have fun, and take day trips exploring your local area.
Raise your insurance deductibles. Potential savings: $250. Raising your car and home insurance deductibles could have zero impact on your quality of life, but it could have a big impact on your savings. Decide what you can afford to pay out of pocket, spend a few minutes on the phone and see what you can save. Another way to save: shop your insurance and see if you can get a better deal.
Drop the gym. Potential savings: $150. Unless you're training for competition, a gym can be expensive overkill. You can buy cheap weights at yard sales or places like Play It Again Sports. Better yet, find them free at sites like craigslist or Freecycle. You can buy cheap workout videos and exercise in front of the TV, or get both exercise and fresh air by walking, jogging or biking in your neighborhood.
Drop premium cable channels -- or drop cable altogether. Potential savings: $50 - $600. One of the most popular stories we've done this year was "You Don't Have to Pay for Cable," a step-by-step guide to bypassing your cable company while still watching your favorite shows. Even if you decide against that, however, consider dropping premium channels. They're expensive and often filled with lousy fare anyway.
Sell Stuff. Potential earnings: $400+. If you're like most people, you've got clothes you don't wear, CDs you don't listen to, books you don't read, DVDs you don't watch, furniture you don't sit in -- you get the picture. Take it to a consignment shop or a swap meet; sell it online at or craigslist; have a yard sale. If nothing else, donate it and create a tax deduction. But don't mess up your quality of life by stressing out and trying to do everything at once. Pick one thing (or room) every month from now until the holidays, clear out the clutter and make some money!
Save on Food. Potential savings: $300+. The web is full of tips to save on food. Some will be obvious (use a list), but some might surprise you. For example, did you know that you might find groceries at 50% off at a salvage grocery store?
Haggle. Potential savings: $500+. According to this survey by Consumer Reports, negotiating a lower price is not only possible, it's likely. What can you negotiate? Pretty much everything. You can call your credit card company and ask for a better interest rate. You can ask for a lower price from your doctor. You can negotiate a lower price on your cable bill. The fact is, you can negotiate a lower price on anything from home electronics to hotel rooms.
Carry only cash: Potential savings: $250+. Try an experiment between now and the holidays. Carry only cash -- no plastic. This simple idea can easily result in major savings. The reasons are simple: If you carry only the cash you need to buy what you went out for, you'll avoid impulse buys. Plus, it's psychologically more difficult to spend actual money than "plastic" money.
Combine those ideas and you'll have at least an extra $1,000 by the time the holidays roll around. And if you need more ideas to make it work, the web is overflowing with hundreds, if not thousands, more.
The key is to carve out a little time, check out some resources, decide what you're willing to try, and get on with it. But remember to avoid anything that might make your life less enjoyable. The key to making it is making it easy on yourself. So if you want an extra grand by the time the holidays roll around, start today!
Are you saving to buy your perfect home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Provided By Shelley Dudley
If you're like many people, at the beginning of every year you resolve to get your finances in better shape by paying off debt and adding to your savings. But like many resolutions, the reality often doesn't meet the goal.
All is not lost. There are still five full months left in the year -- time for a quick review of simple ways to save. The goal? To set aside at least an extra thousand dollars by Christmas, without sacrificing your quality of life. Going on a "dollar-diet" is no way to get the job done -- painless savings are the only kind you should attempt because they're the only kind that work.
Simple Savings
Lower your cell phone bill. Potential savings: $100. If you're not using minutes you're paying for, switch to a cheaper plan. That could save you $20 a month, or $100 by Christmas.
Lose your land line. Potential savings: $140. If you find that your land line is gathering dust, lose it. And even if you want to keep your land line, if you have a broadband internet connection, get your phone service through it rather the phone company. A service like Magic Jack will give you unlimited calling for $2/month rather than the $30 you might be paying for traditional phone service providers.
Staycation instead of vacation. Potential savings: $1,000+. The savings from staying home vs. traveling for vacation are obvious. The trick is to maintain your quality of life while you do it. No working allowed. Turn off the computer and the phone. Relax, have fun, and take day trips exploring your local area.
Raise your insurance deductibles. Potential savings: $250. Raising your car and home insurance deductibles could have zero impact on your quality of life, but it could have a big impact on your savings. Decide what you can afford to pay out of pocket, spend a few minutes on the phone and see what you can save. Another way to save: shop your insurance and see if you can get a better deal.
Drop the gym. Potential savings: $150. Unless you're training for competition, a gym can be expensive overkill. You can buy cheap weights at yard sales or places like Play It Again Sports. Better yet, find them free at sites like craigslist or Freecycle. You can buy cheap workout videos and exercise in front of the TV, or get both exercise and fresh air by walking, jogging or biking in your neighborhood.
Drop premium cable channels -- or drop cable altogether. Potential savings: $50 - $600. One of the most popular stories we've done this year was "You Don't Have to Pay for Cable," a step-by-step guide to bypassing your cable company while still watching your favorite shows. Even if you decide against that, however, consider dropping premium channels. They're expensive and often filled with lousy fare anyway.
Sell Stuff. Potential earnings: $400+. If you're like most people, you've got clothes you don't wear, CDs you don't listen to, books you don't read, DVDs you don't watch, furniture you don't sit in -- you get the picture. Take it to a consignment shop or a swap meet; sell it online at or craigslist; have a yard sale. If nothing else, donate it and create a tax deduction. But don't mess up your quality of life by stressing out and trying to do everything at once. Pick one thing (or room) every month from now until the holidays, clear out the clutter and make some money!
Save on Food. Potential savings: $300+. The web is full of tips to save on food. Some will be obvious (use a list), but some might surprise you. For example, did you know that you might find groceries at 50% off at a salvage grocery store?
Haggle. Potential savings: $500+. According to this survey by Consumer Reports, negotiating a lower price is not only possible, it's likely. What can you negotiate? Pretty much everything. You can call your credit card company and ask for a better interest rate. You can ask for a lower price from your doctor. You can negotiate a lower price on your cable bill. The fact is, you can negotiate a lower price on anything from home electronics to hotel rooms.
Carry only cash: Potential savings: $250+. Try an experiment between now and the holidays. Carry only cash -- no plastic. This simple idea can easily result in major savings. The reasons are simple: If you carry only the cash you need to buy what you went out for, you'll avoid impulse buys. Plus, it's psychologically more difficult to spend actual money than "plastic" money.
Combine those ideas and you'll have at least an extra $1,000 by the time the holidays roll around. And if you need more ideas to make it work, the web is overflowing with hundreds, if not thousands, more.
The key is to carve out a little time, check out some resources, decide what you're willing to try, and get on with it. But remember to avoid anything that might make your life less enjoyable. The key to making it is making it easy on yourself. So if you want an extra grand by the time the holidays roll around, start today!
Are you saving to buy your perfect home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Friday, September 3, 2010
TEXANS LESS FINANCIALLY STRESSED THAN OTHERS
Provided By RECON
CredAbility’s recent report gauging the economic security of American households has found Texans are on average slightly less stressed than those in other states.
The report gave Texas a consumer distress index score of 65.89 points out of 100, compared with the national score of 65.23. Any score lower than 70 is considered “financial distress.” Only nine states, primarily in the upper midwest and Great Plains, reported indices higher than 70 points.
The report also showed Texans are more financially stressed now than they were during second quarter 2009. CredAbility attributed the sustained economic stress to continuing high levels of unemployment and families struggling to pay their mortgages.
“The average American remains gripped by financial distress,” CredAbility CEO Mark Cole said. "To use a medical analogy, the patient is still in critical condition. Until housing and employment marketing improve significantly, we cannot expect to see significant recovery in these numbers.”
Are you financially ready to purchase a home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
CredAbility’s recent report gauging the economic security of American households has found Texans are on average slightly less stressed than those in other states.
The report gave Texas a consumer distress index score of 65.89 points out of 100, compared with the national score of 65.23. Any score lower than 70 is considered “financial distress.” Only nine states, primarily in the upper midwest and Great Plains, reported indices higher than 70 points.
The report also showed Texans are more financially stressed now than they were during second quarter 2009. CredAbility attributed the sustained economic stress to continuing high levels of unemployment and families struggling to pay their mortgages.
“The average American remains gripped by financial distress,” CredAbility CEO Mark Cole said. "To use a medical analogy, the patient is still in critical condition. Until housing and employment marketing improve significantly, we cannot expect to see significant recovery in these numbers.”
Are you financially ready to purchase a home? Give us a call at 972-772-7000 or email us at rockwall@kw.com.
Wednesday, September 1, 2010
How Mortgage Rates Compare
Published By Carla Hill
Provided By Realty Times
You've heard it all across the media. Interest rates are at historic lows. If you are new to the mortgage process, these figures and statements give you little frame of reference.
Let's take a moment to look at where interest rates have been over the last few decades, and what today's rates really mean for homebuyers.
Interest rates are affected by a gamut of factors.
According to the Federal Reserve Bank of New York, "Lower interest rates make it easier for people to borrow in order to buy cars and homes. Purchases of homes, in turn, increase the demand for other items, such as furniture and appliances, thus providing an additional boost to the economy. Lower interest rates mean that consumers spend less on interest costs, leaving them with more of their income to spend on goods and services."
And this is, after all, what you want people to do in a down economy. You want them to reinvigorate the economy with spending.
The Fed continues, "If the rates that consumers and businesses have to pay to borrow rise too rapidly, however, spending may decline, leading to an economic slowdown."
So, it is a intricate dance the powers that be must perform in order to steer the economy the best they can. They, namely the Federal Reserve and Banks, are seeking stable prices, high employment rates, and sustainable growth in the economy.
30 years ago, in 1980, when many first-time home buyers parents were making home purchases, Freddie Mac reports that the 30-year fixed rate mortgage hit a staggering 16.32 percent.
Let's compare that in relation to today's interest rate, averaging around 4.5 percent.
•In the most basic terms, a 30-year fixed-rate mortgage for $100,000 at 16.32 percent, will cost you around $1,450 a month.
•For the same mortgage at a 4.5 percent rate, you'll be paying $580 a month.
The difference is astounding, and this is the main reason the media is shouting news about interest rates. If you are in the position to buy, now could very well be the time.
If you have questions about the 30 year fixed mortgage rate, give us a call at 972-772-7000 or email us at rockwall@kw.com.
Provided By Realty Times
You've heard it all across the media. Interest rates are at historic lows. If you are new to the mortgage process, these figures and statements give you little frame of reference.
Let's take a moment to look at where interest rates have been over the last few decades, and what today's rates really mean for homebuyers.
Interest rates are affected by a gamut of factors.
According to the Federal Reserve Bank of New York, "Lower interest rates make it easier for people to borrow in order to buy cars and homes. Purchases of homes, in turn, increase the demand for other items, such as furniture and appliances, thus providing an additional boost to the economy. Lower interest rates mean that consumers spend less on interest costs, leaving them with more of their income to spend on goods and services."
And this is, after all, what you want people to do in a down economy. You want them to reinvigorate the economy with spending.
The Fed continues, "If the rates that consumers and businesses have to pay to borrow rise too rapidly, however, spending may decline, leading to an economic slowdown."
So, it is a intricate dance the powers that be must perform in order to steer the economy the best they can. They, namely the Federal Reserve and Banks, are seeking stable prices, high employment rates, and sustainable growth in the economy.
30 years ago, in 1980, when many first-time home buyers parents were making home purchases, Freddie Mac reports that the 30-year fixed rate mortgage hit a staggering 16.32 percent.
Let's compare that in relation to today's interest rate, averaging around 4.5 percent.
•In the most basic terms, a 30-year fixed-rate mortgage for $100,000 at 16.32 percent, will cost you around $1,450 a month.
•For the same mortgage at a 4.5 percent rate, you'll be paying $580 a month.
The difference is astounding, and this is the main reason the media is shouting news about interest rates. If you are in the position to buy, now could very well be the time.
If you have questions about the 30 year fixed mortgage rate, give us a call at 972-772-7000 or email us at rockwall@kw.com.
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