Take the big stress out of a big move

Provided By: CNNMoney.com

 

The couple's plan was to be near Boulder, where they had spent many happy vacations mountain biking and snowboarding. So Lauren, a personal trainer, and Greg, a communications engineer who telecommutes, sold their Maryland home, going from listing to a signed contract in only 10 days.

 

The Martins' decision to move and the speed with which they sold their home reflect the rise in mobility accompanying the country's economic recovery.

With unemployment falling from 10% in 2009 to 7.4% today, and with fewer homeowners carrying underwater mortgages -- 850,000 homes exited negative equity in the first quarter of 2013 -- people are more willing and able to pick up stakes.

The Census Bureau says nearly 5.1 million people moved to a new state last year -- up 17% from 2010 and the highest level since 2006. And as real estate has recovered, demand has outstripped existing supply: Only 5.2 months' worth of homes were on sale in June, down from 9.4 in 2010.

Related: Where homes are affordable

So if you're ready to make a long-haul relocation, you'll have to contend with not only the perennial hassles of moving -- navigating real estate transactions, packing up possessions, finding the perfect neighborhood -- but also today's economic conditions.

BRACE FOR TODAY'S MARKET REALITIES

In most metropolitan areas, potential buyers far outnumber available homes, according to Redfin. That's great for the selling part of your relocation, but multiple bids and fast sales make finding your next place harder. Tight lending rules, moreover, are likely to limit your flexibility in selling and buying.

Your best moves:

First sell, then buy... Most lenders today won't extend a short-term bridge loan if you're trying to buy a new home prior to selling your current one, says Peter Boomer, executive vice president at PNC Mortgage.

Nor will it be easy to carry two mortgages at once, says Dan Green, a loan officer at Waterstone Mortgage in Cincinnati. Should all your debt payments -- the two mortgages, plus any car loans and consumer debt -- top 40% of your monthly gross income, you'll have trouble getting approved, he says.

Related: Was my home a good investment?

Plan to rent out your old home and buy in your new town? Green warns that you need at least 30% equity in the old home for your rental income to be counted on a conventional mortgage application. Even so, just 75% of that income will be factored in, he says.

... Or rent your new place. Renting gives you time to get a boots-on-the-ground feel for exactly where you want to be. It also gives you a wider choice of starter housing: As you search for the perfect home, you can settle for a good-enough home without regret, since the compromise will be only temporary.

The Louisville-bound Martins -- who had always planned to rent first and buy later -- couldn't find affordable rentals in the older Boulder neighborhoods they liked most. So as a fallback, they took a one-year lease in Broomfield, a newer area.

Allow for more time to look. Whether you plan to buy or rent, expect plenty of competition during your search. "A long weekend of house hunting worked in the past, but right now it can take at least a week," notes Nadya Nahirniak-Hansen, director of relocation services at Madison real estate agency Restaino & Associates.

USE NEW TOOLS TO REFINE YOUR SEARCH

A Knight Foundation survey of 43,000 Americans landed on three basic attributes that make a community lovable: plenty of entertainment, an inviting vibe, and ample green space. Maybe that's important to you; maybe not.

To help you focus on what neighborhoods you like best, Carol Fradkin, author of the bookMoving Gracefully, suggests compiling a detailed, prioritized list of your family's must-haves. That might mean great schools, easy access to public transportation, or proximity to a place of worship.

"The more specific you are about what matters most to you," says Fradkin (who herself has moved 16 times since her college years), "the more likely you'll have a smooth and happy transition." Then, well before you move, you can start looking for your ideal neighborhood.

Your best moves:

Consult a matchmaker. Hoping to re-create the look and feel of your current town in your new home? Check out the Match tab at the top of the NeighborhoodScout.com website. Plug in a place you know and like, and the site will generate a list of areas in your destination that are the closest matches, based on 273 factors.

Get a walking tour from Google's Pegman. In the Street View feature on Google Maps, drag the yellow Pegman to an address you're checking out. Then click on the white arrows in the photo to walk the neighborhood. Plug in a destination -- say, the local school -- to get a sense of what the kids' walk would be like.

Learn about headaches before you commute. Visit the SigAlert.com website for real-time commuting information for major cities of 37 states and the District of Columbia. You can get a taste of your drive from maps showing congested routes, along with live feeds from traffic cams. Another way to learn about your prospective commute: Listen regularly to the online feed of a local radio station's rush-hour broadcast.

PICK MOVERS WISELY, PACK MINIMALLY

Given the average cost to box and ship possessions for an interstate move -- $5,630, estimates the American Moving & Storage Association -- it would be nice if everything went smoothly. Alas, the Federal Motor Carrier Safety Administration, which regulates interstate moving companies, fielded 28% more complaints last year compared with 2010.

Some typical problems: Final charges that were far out of line with estimates, and delays in pickup or delivery. Sure, unsavory movers are a problem, but even the good guys are under pressure. Les Velte, president of the Consumers Relocation Services moving company in Weston, Vt., says many reputable van lines have not hired back all the workers let go during the financial crisis, making it harder to book a quality crew.

Your best moves:

Shop on reputation, not price. Get written estimates, yes, but curb your enthusiasm for the lowest bid, says Michael Garcia, author of Moving 101. And definitely steer clear of companies willing to give you an estimate over the phone.

"Check references," says Garcia. "Check their complaint record. That's how you avoid disasters." On the federal government's ProtectYourMove.gov website, you can search for movers' safety records and complaint history. Your local Better Business Bureau is another important reputation check.

Related: America's Best Places to Live

Avoid crunch time. If you're flexible, move during the October-March off-season to increase the odds you'll get a more attentive crew. "Movers are human," says Velte. "If they are go-go-go from April through July, by the time your move rolls around in August they can be exhausted." Movers are also more likely to hire less experienced temps during peak months.

Buy third-party moving insurance. Ask your home insurer whether your goods will be covered during the move; different policies from the same company may have different terms. A mover's free coverage is limited to 60¢ a pound per article, which is woefully inadequate.

Movers also sell full replacement value coverage, but Garcia recommends buying moving insurance elsewhere. "If there's a problem, I'd want a third party representing me," he says.

Shop online at movinginsurance.com or moveinsure.com: A policy with a $1,000 deductible can run about 1% of the total value of your possessions.

Get the urge to purge. The fewer possessions you move, the less you'll pay. Michael Stone, a Portland, Ore., move specialist who works with downsizing retirees, recommends mocking up room-by-room layouts based on the square footage of your new home to get a realistic feel of what's not going to fit.

And push yourself to steer clear of the savior of indecisive souls: the self-storage facility. Renting a small unit can run you over $150 a month.

MAXIMIZE YOUR RELOCATION PACKAGE

Twenty-seven percent of firms intend to increase the number of workers they relocate this year, up from 10% in 2009, according to Atlas Van Lines. Should your company be moving you, be aware that its financial support may be limited: Only about 60% of firms fully reimburse transferees and only 50% provide that help to new hires.

Your best moves:

Know what's standard. More than 75% of companies give workers two weeks or less to accept or decline a job transfer. Amid the whirlwind that such a tight deadline creates, get in writing what is and isn't paid for -- and start negotiating.

For example, shipping one automobile is commonly covered, but you could pay at least $500 apiece for any additional vehicles. Seventy-one percent of companies, reports Atlas, offer a temporary-housing allowance, typically covering a month at an extended-stay hotel.

Moving into a very tight market? You might want to ask for more time or money.

Check the expiration date on benefits. The package your company offers may include a home buying benefit such as down payment help or closing costs. If you intend to rent at first, however, make sure you can still claim the benefit when you are ready to buy. Unless you negotiate otherwise, these benefits tend to expire within a year of your move.

Avoid nasty tax surprises. Because the dollar value of your relocation benefit counts as income, you can be stuck with a big bill at tax time. So companies often add a gross-up to your benefit -- extra cash to cover the taxes you'll owe.

Unfortunately, says David Oltman of the corporate relocation firm Ineo/Relocation in Wilton, Conn., employers often underestimate gross-ups. So, he says, get a written promise from your employer to make another payment if the original proves inadequate. Based on his data, the tax hit for employees of large corporations averages $20,000 -- a lot of money better put toward enjoying your new Best Place.

 

 

 

 

Mortgage rates hit two-year high

Provided By: CNN.com

The average weekly rate for a 30-year fixed-rate mortgage jumped to a two-year high, Freddie Mac said on Thursday.

 

The rate is now 4.58%, up from 4.4% the prior week.

 

 That is the highest level for the 30-year in more than two years, since it hit 4.6% on July 7, 2011, according to Freddie Mac spokesman Chad Wandler. Wandler attributed the increase to an improving housing market. He also cited investor concerns about when the Federal Reserve will taper its government bond-buying program, which could affect interest rates.

Related: How much house can you afford?
Rising rates could also affect the housing market going forward. A recent survey by real estate company Trulia found that an increase in mortgage rates was the prime concerns among 41% consumers, who worried about that more than price increases.
The 30-year rate hit an all-time low of 3.31% on Nov. 21, 2012. Since then, the 30-year has bounced around, sinking back down to 3.35% on May 2, 2013. The runup to the current two-year high has all occurred in the last three months.

Home prices have also been rising.

According to the most recent figures available, the S&P/Case-Shiller home price index was up 12.2% in May compared to a year ago. That was the biggest such jump since March 2006, close to the peak of the real estate bubble.

Related: Calculate your monthly mortgage fee
The recent increase in housing prices has also given rise to concerns of a new housing bubble. But Keith Gumbinger, vice president of the mortgage information web site HSH.com, dismissed those concerns.

"I think it's too early to declare that we're in a housing bubble yet," he said. "We remain well below the peaks of just a few years ago."

He said the housing market is "recovering, and recovering well" but added that mortgage rates of nearly 5% are still historically low.

Agghhh!!! Water Rings!

Provided By: Homemademamas.com

Unfortunately this happens all to often (especially if you have children or friends who haven't heard of coasters). You move a hot or cold drink only to find a big ugly water mark on your wooden table. Ughhh! Rebecca found this guy on her coffee table and thought the table was ruined. She tried a trick that had worked in the past, olive oil rubbed over the stain. Nothing. Homemade Nana suggested mayo on it. Nothing. Auntie said she had heard that regular toothpaste would remove a water ring. Again nothing! So we started scouring the internet and found howtogetridofstuff.com . They suggested using a hair dryer or an iron to get rid of water rings. Could that work here? We gave it a try.

We used a blow dryer on high. We held it fairly close to the stain. Slowly it stared disappearing! YEA!!!!

After about 20 minutes the stain was almost completely gone. We put a little olive oil on it to moisturize the wood. The results were amazing!!

Rising home prices in DFW brings influx of new listings

Provided By: bizjournal.com

 

Dallas-Fort Worth's rising home prices --reaching double-digit increases year-over-year -- have prompted more homeowners to put their houses on the market.

"With higher home prices and faster selling times in most cities, homeowners who've held onto their properties are coming back into the market and the overall inventory picture is starting to rebalance," said Lanny Baker, president and CEO of California-based housing research firm ZipRealty.

The North Texas area increased its new listings by 18 percent year-over-year in July to 10,176 listings, after the median home prices rose 14 percent in the same time period, according to ZipRealty research. The median home price in Dallas was $192,500.

In the U.S., the number of new home listings rose 14 percent, with a median home price of $282,034.

Dallas-Fort Worth area homes sold at an average 98.7 percent of list price, compared with the national average of 99.1 percent of list price, according to the data.

With the new listings and an increase in inventory, Baker says he expects prices to moderate in coming months, but the housing market shows no signs of stopping.

"Sales price gains are still accelerating in more than half of the cities analyzed in July, and it's hard to find clear signs of slowing home price momentum," he said.

Rockwall Farmers Market

Provided By: Rockwall.com
The Rockwall Farmer's Market is a seasonal fresh produce market operating
May through September serving up to 500 shoppers per week.  Our Market
on the Historic Downtown Square has become one of the area’s most
popular destinations for locals to purchase fresh produce and specialty foods.

Next time you’re at the Market take a little extra time to visit the Old Town
Shoppes and Eateries of Downtown Rockwall, each offering its own
unique feel and appeal, you’ll be glad you did…………

Obama takes questions on housing in Zillow chat

Fresh off a speech in Phoenix in which he outlined his vision for the housing market, President Obama took to the web Wednesday to answer questions from Americans wondering what the government can do to help.

 

Taking questions submitted online in an event live-streamed in cooperation with real estate site Zillow (Z), Obama reiterated in broad terms his support for scaling down government-backed housing finance firms Fannie Mae and Freddie Mac, a key theme of his speech in Phoenix on Tuesday.

 

"We're actually confident that the private market can step in, do a good job, and the government can be a backstop so that we still have affordability and 30-year mortgages," he said.

 

Obama said the Consumer Financial Protection Bureau will release new guidelines "as soon as the fall" in an attempt to simplify the mortgage-application process.

Related: Top 10 consumer complaints

 

While he touted home ownership as a key aspect of the "American Dream," Obama also expressed support for an expansion of affordable rental housing, praising moves by institutional investors to buy and rent out residential properties. These investors, he added, can help stabilize home values in neighborhoods that have been blighted by foreclosures.

 

Obama touted immigration reform as another way to strengthen the housing market.

"We know that if we get immigration reform done, suddenly you've got all kinds of families coming out the shadows, paying taxes, paying penalties," he said. "They're also going to be really likely to buy homes, often times in some of the neighborhoods where you had the most foreclosures."

 

Throughout the discussion, Obama emphasized the importance of the housing market to the broader economy.

 

"This is where most Americans have their wealth," he said. "If we get that right, it makes a big difference everywhere else"

Congrats to Rod Holland & Associates! Living Magazine "Best Of" Rockwall & Rowlett

Great Ideas For Your New Home! How to Make a Hallway Sign

Provided By: mycottagecharm.com

Howdy!  Just thought I’d show you how I took the following items…… 3 plant brackets,  3 plaques from Walmart, and 3 cup hooks…………………