Most Veterans don't use their government benefits to purchase a home!

Should I Buy a Home Now? Or Wait Until Next Year?

The Cost of Waiting to Buy is defined as the additional funds it would take to buy a home if prices & interest rates were to increase over a period of time. Freddie Mac predicts interest rates to rise to 4.4% by next year. CoreLogic predicts home prices to appreciate by 5.0% over the next 12 months. If you are ready and willing to buy your dream home, find out if you are able to!

Sweet Auburn preservation initiative relies on votes to spruce up historic house

ATLANTA: Sweet Auburn was the epicenter of the Civil Rights movement, a gem in downtown Atlanta worth not only preserving but celebrating.

And now, if all goes as planned, a new initiative could help restore a historic home in the neighborhood and bolster local businesses.

Sweet Auburn Works—an organization that supports economic development initiatives and projects that promote commerce, tourism, and preservation in Sweet Auburn—is hoping to spruce up the Bryant-Graves historic house.

Built in the late 1890s, the home was the site of an institute that educated African-Americans in the early 1900s, including Martin Luther King, Sr.

Currently, the home serves as the offices of Sweet Auburn Works, though the organization hopes to transform it into an information center to serve the million-plus annual visitors who come to the neighborhood and teach them about local businesses.

To make the vision a reality, the organization is in the running for a grant through the Partners in Preservation: Main Streets program.

But they need a few clicks from caring Atlantans.

The initiative will support preservation at sites across the country through $2 million in grants. The National Trust for Historic Preservation, in collaboration with Main Street America, will determine funding allocations based on the results of an online poll.

To support the Sweet Auburn project, Atlantans can vote daily through Oct. 31.

What to Look for in Your Real Estate Team

 How do you select the members of your team who are going to help you make your dream of owning a home a reality? What should you be looking for? How do you know if you’ve found the right agent or lender?
The most important characteristic that you should be looking for in your agent is someone who is going to take the time to really educate you on the choices available to you and your ability to buy in today’s market.
As Dave Ramsey, the financial guru, advises:

“When getting help with money, whether it’s insurance, real estate or investments, you should always look for someone with the heart of a teacher, not the heart of a salesman.”

Do your research. Ask your friends and family for recommendations of professionals whom they have used in the past and have had good experiences with.
Look for members of your team who will be honest and trustworthy; after all, you will be trusting them with helping you make one of the biggest financial decisions of your life.
Whether this is your first or fifth time buying a home, you want to make sure that you have an agent who is going to have the tough conversations with you, not just the easy ones. If your offer isn’t accepted by the seller, or they think that there may be something wrong with the home that you’ve fallen in love with, you would rather know what they think than make a costly mistake.
According to a Consumer Housing Trends Study, millennials have already started to prefer a more hands-on approach to their real estate experience:

“While older generations rely on real estate agents for information and expertise, millennials expect real estate agents to become trusted advisers and strategic partners.”

Look for someone to invest in your family’s future with you. You want an agent who isn’t focused on the transaction but is instead focused on helping you understand the process while helping you find your dream home.

Bottom Line

In this world of Google searches, where it seems like all the answers are just a mouse-click away, you need an agent who is going to educate you and share the information that you need to know before you even know you need it.

More Than Half of All Buyers Are Surprised by Closing Costs

According to a survey conducted by ClosingCorp, over half of all homebuyers are surprised by the closing costs required to obtain their mortgage.

After surveying 1,000 first-time and repeat homebuyers, the results revealed that 17% of homebuyers were surprised that closing costs were required at all, while another 35% were stunned by how much higher the fees were than expected.

“Homebuyers reported being most surprised by mortgage insurance, followed by bank fees and points, taxes, title insurance and appraisal fees.”

Bankrate.com gathered closing cost data from lenders in every state and Washington, D.C. in order to share the average costs in each state. The map below was created using the closing costs on a $200,000 mortgage with a 20% down payment.

Keep in mind that if you are in the market for a home above this price range, your costs could be significantly greater. According to Freddie Mac,

“Closing costs are typically between 2 and 5% of your purchase price.”

Bottom Line

Speak with your lender and agent early and often to determine how much you’ll be responsible for at closing. Finding out that you’ll need to come up with thousands of dollars right before closing is not a surprise anyone is ever looking forward to. 

How to Get the Most Money from the Sale of Your Home

Every homeowner wants to make sure they maximize their financial reward when selling their home. But how do you guarantee that you receive maximum value for your house? Here are two keys to ensure that you get the highest price possible.

1. Price it a LITTLE LOW

This may seem counterintuitive. However, let’s look at this concept for a moment. Many homeowners think that pricing their home a little OVER market value will leave them room for negotiation. In actuality, this just dramatically lessens the demand for your house (see chart below).


Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price it so that demand for the home is maximized. By doing this, the seller will not be fighting with a buyer over the price, but will instead have multiple buyers fighting with each other over the house.
Realtor.com gives this advice:

“Aim to price your property at or just slightly below the going rate. Today’s buyers are highly informed, so if they sense they’re getting a deal, they’re likely to bid up a property that’s slightly underpriced, especially in areas with low inventory.”

2. Use a Real Estate Professional

This, too, may seem counterintuitive. The seller may think they would make more money if they didn’t have to pay a real estate commission. With this being said, studies have shown that homes typically sell for more money when handled by a real estate professional.
A new study by Collateral Analytics, reveals that FSBOs don’t actually save any money, and in some cases may be costing themselves more, by not listing with an agent.
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:

“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.”

The results of the study showed that the differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%. Sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.

Bottom Line

Price your house at or slightly below the current market value and hire a professional. This will guarantee that you maximize the price you get for your house.

Lack of Existing Home Inventory Slows Sales Heading into Fall

First-time homebuyers made up 31% of all sales in August. Homes are selling quickly with 51% of homes on the market for less than a month. A limited supply continues to drive up prices for the 66th consecutive month.

What is a Short Sale?

Home Sales Expected to Increase Nicely in 2018

Freddie Mac, Fannie Mae, and The Mortgage Bankers Association are all projecting that home sales will increase in 2018. Here is a chart showing what each entity is projecting in sales for the remainder of this year and the next.

As we can see, each entity is projecting sizable increases in home sales next year. If you have considered selling your house recently, now may be the time to put it on the market. 

Check out the pros and cons of different down payment amounts.

"Down payment": It's amazing that these two little words have such a profound influence on your homeownership process—and your life! Ask most people what is an acceptable down payment on a house, and nine times out 10 they'll tell you it's 20% of your home's selling price. So you do the math, figure you'd have to put down $50,000 on a $250,000 house, and break out in hives when you realize that the chances of your getting out of that tiny one-bedroom apartment are slim.

Well chin up, buckaroo. That 20% figure is common, but it's not set in stone. Sure, there are many reasons why you should make a 20% down payment on a house, but most banks will allow you to put down less—and yes, you can put down even more if you're feeling flush.

Let's take a look at the pros and cons of making a number of different down payments on a house.

When your down payment is 20%

It might sound like a huge chunk of change, but you'll ultimately end up paying less if you make a 20% or higher down payment on a house. That's because when you put 20% down, you won't have to pay mortgage insurance, which can add several hundred dollars a month to your house payments.

"Mortgage insurance exists because the lender ... assumes additional risk when a homeowner's equity stake is small," mortgage banker Craig Berry explains in The Mortgage Reports.

Both private lenders and the Federal Housing Administration have mortgage insurance plans. No matter which you chose, you'll likely have to pay a one-time fee upfront and then another amount of money that will be tacked onto your monthly mortgage.

The only good thing about mortgage insurance is that it doesn't last forever. When your loan-to-value ratio is 80% (or you have paid the equivalent of 20% of your home's value), you can ask your lender to stop charging you for the insurance. Once the loan-to-value ratio reaches 78%, the lender is legally obligated to cancel it.

Another advantage of making a 20% down payment on a house is that that's often the magic number at which point you'll get a more favorable interest rate. So you can see the various advantages to saving up for that 20% down payment if it's possible.

When your down payment is under 20%

If you are unable to make a 20% down payment, there are many lenders that will allow you to make a smaller down payment on a house. Among them is the FHA, which offers mortgages with as little as 3.5% down, if your annual income is under a certain amount that varies by market. There are even some lenders, like the U.S. Department of Agriculture, that allow you to put 0% down, but eligible homes are usually in rural areas, and your income must meet certain low requirements.

Although you can find decent terms when you put less than 20% down, remember that since you'll be financing a greater amount, no matter how favorable the terms you negotiate, your payments will be higher and you'll be paying more interest, so the home will ultimately be more expensive.

When your down payment is over 20%

People who inherit a windfall sometimes choose to put more than 20% down, so their payments will be lower and they can avoid mortgage insurance payments. But others, with very low credit ratings, are required by the lender to put more than 20% down. According to Robert Bergerin U.S. News & World Report, if your credit score is under 620, you'll probably have to put more than 20% down to get a conventional loan.

Top 5 Reasons Why Millennials Choose to Buy:

“The majority of millennials said they consider owning a home more sensible than renting for both financial and lifestyle reasons — including control of living space, flexibility in future decisions, privacy and security, and living in a nice home.” The top reason millennials choose to buy is to have control over their living space, at 93%.

Many millennials who rent a home or apartment prior to buying their own homes dream of the day that they will be able to paint the walls whatever color they’d like, or renovate an outdated part of their living space.

Upsizer Uprising: Why Some Retiring Boomers Want Bigger Houses

It's easy to live in a small house when it's just you and your partner and you're both at work during the day. But when it's time to retire and you're both spending more time at home, things can start feeling a little ... cramped.

That was precisely the case last year, when a couple in their late 60s approached Scott Cotrell, a broker with Living Room Realty in Portland, OR. They'd been in the same two-bedroom home for 23 years—and they were not about to stick around for a 24th.

"They looked at each other and said, 'We've got to get a bigger house,'" Cotrell remembers.

Conventional wisdom says Americans tend to move to smaller homes after the kids grow up and clear out. But that no longer seems to be the rule. A significant number of older homeowners—30%, according to a recent study by Merrill Lynch—are opting to buy bigger homes. It has to do with a rebounding economy, wanting more room to entertain guests and family, and having more space to spread out.

“They’re not worried if they’ve saved enough,” says Christina Boyd, a financial adviser with Merrill Lynch in Wayzata, MN.

She says a typical retired baby boomer is between 60 and 75 years old, financially secure, and in good health. But they’re still cost-conscious: 26% of those anticipating a move want to reduce their home expenses. These savvy "upsizers" know they can do that by relocating to a place with a smaller price per square foot. So they're not necessarily spending more; they're looking for bigger houses for less.

Cary Carbonaro, a certified financial planner and author of “The Money Queen’s Guide,” a financial literacy book for women, says older people deciding to upsize is all about “getting more bang for their buck.”

Carbonaro says lots of retirees get tired of cramped city living and opt to sprawl out in less expensive states such as Florida, Arizona, and North Carolina.

Although upsizing has become more common, it isn't yet the norm. According to the Merrill Lynch study, which polled over 3,600 retirees nationwide, 37% of retirees have already moved and 27% plan on moving. Of those who moved, 70% said they downsized or moved into a same-size home.

But thanks to a rebounding economy, more boomers might be willing—or at least able—to make the upgrade. With real estate and the stock market looking up, people have more choices than they did years ago. Twenty years ago, when Cotrell first got into the mortgage business, he was used to seeing retirees downsizing. Now he's seeing an upswing in older people looking for bigger houses.

"After the recession and the crash, it wouldn’t have worked in their favor so much [to upgrade]," Cotrell says. "But they stuck to the market and the market came back so strong, so now they have the cash to do it."

Following in their parents' footsteps
More room—even for two

You don't even have to retire to want a bigger house. On the contrary—some older Gen Xers are starting to upsize early. Their kids have just flown the coop, and they want room for entertaining, not growing families. A better floor plan means more room to have friends and family over.

They “are making better money," Boyd says. "They’re wanting more space as their kids get older. They want a bigger place where their friends can come over."

Bigger doesn't even have to mean bigger, technically.

“While a larger home might not necessarily be on the agenda, many look for homes that may be ‘better’ than their existing home in some way—their dream homes," says Ann Thompson, regional sales executive at Bank of America in San Francisco. "Some are even expanding their homes to accommodate visits from extended family such as grandchildren."

An increase in home values over the past two years has helped upsizers in their search for more space, she notes. Today, homeowners can more easily sell their current homes for a profit and make the transition to a larger home without pinching pennies.

In early 2013, Bob Kurtz, of the Kurtz Group at Merrill Lynch in Alpharetta, GA, helped a couple trade in their spacious farmhouse for a custom-built larger home near their favorite country club. Not only will they get extra space to entertain more guests in the new house (which is under construction), but they'll also have prime access to a golf course and clubhouse.

Carbonaro says she had one client, a single grandmother, who upsized to a four-bedroom home so her grandkids could stay with her, and another client who moved to Las Vegas to be closer to family.

“They want to live the good life,” Carbonaro says.

Cotrell helped his Portland clients, who have no children, move from their 1,500-square-foot, two-bathroom home to a 2,600-square-foot, four-bedroom, three-bathroom home. The husband wanted a man cave, the wife wanted a sewing room, and they both wanted a guest room.

"This is a big step up for them," Cotrell says.

He's helping another couple in a similar situation—in their late 60s, married, no kids, and wanting a larger home. Perhaps couples don't need an empty nest to spur them to move. Instead, it might just mean the older we get, the more space we'd rather have.

Whatever the reason, it's quite clear that when it's time to retire, it's time to relax—and that begins at home.

The Home Seller's To-Do List

How to Dry Out Your House After a Flood

As hurricane and flood evacuees return to their homes and encounter heartbreaking destruction and losses, what can they do to expedite the processes of recovering and drying out their houses? Here we look at key practices recommended by top agencies such as The American Red Cross, Federal Emergency Management Agency and The Centers for Disease Control and Prevention.

 

Even if your house hasn't been flooded but has been damaged by rain and storms, many of these measures can be helpful.

Work Safely

Floodwater is usually a toxic stew of water, sewage contamination, household chemicals, gasoline and more. After floodwater has drained from a home, the residue left behind must be decontaminated or removed.

When working in a flood-damaged home, wear rubber gloves and waterproof boots for protection against contaminants that can absorb through your skin. Wear a tight-fitting N95 respirator (not a dust mask) and safety glasses. Wash your hands regularly with hand sanitizer or soap and clean water.

Document the Damage

Before you make any repairs – including removing water and mud – use your cell phone, camera or video camera to document in detail all damage to your home for insurance and disaster relief evidence. Photograph wet wallboard, the waterline on walls, damaged flooring, baseboards, rugs, furniture, carpets, books, tools and anything else that has been ruined – even photograph the trash heap in the front yard.

Digital photos of the damage caused by flooding are ideal because they can be stored online and shared easily.

Ventilate

The longer water and moist air remain in your home following a storm, the greater the likelihood of increased damage to the house and health risks to your family. Within 48 hours, mold, mildew and fungus can begin to grow, posing serious health risks and producing a lasting musty odor. In addition, water can warp and rot wood, disintegrate wallboard, ruin most types of insulation, compromise electrical wiring and more.

During the day – when the weather is dry – open all windows and doors to exchange damp interior air for drier outdoor air. Close them at night or when outdoor humidity rises.

Also, open closet doors and drawers. If drawers are hard to pull open because of swelling, remove the backs from cabinets to increase air circulation and allow access.

Use fans, window air conditioners and dehumidifiers to dry out the air. Do not, however, turn on a central air conditioner or heating system if the equipment or ductwork was submerged in water during flooding. Doing this could blow dirt, mold and contaminants into interior areas. Have the ductwork professionally cleaned first.

Remove, Protect and Discard

Gather your family and friends for help and support as you move through this very difficult stage. Form a debris pile in the front yard for household items and materials that were ruined during flooding. Leave the items there until your insurance adjuster can confirm your losses – but press for this to happen soon so the pile doesn’t attract pests.

Immediately trash all food that may have been in contact with floodwater, as well as refrigerated or frozen foods that may have warmed or thawed.

Move salvageable furnishings and items to a safe, dry place such as a second-story room, storing dry items in plastic tubs or plastic bags. If valuables have been in contact with sewage or chemicals, get professional help for the cleanup. Excellent tips for drying and cleaning your valuables are available in the FEMA Fact Sheet.

Dry Out & Clean

Most ceilings and walls are covered with gypsum wallboard (also known as drywall or Sheetrock). Unfortunately, wallboard that has been flooded should be removed because it retains toxins and disintegrates after being soaked.

In a typical house, 4-by-8 foot sheets of wallboard are initially applied to wall studs horizontally. Because of this, most walls have a horizontal seam between panels, occurring about 4 feet up from the floor. Unless floodwater has risen higher than 4 feet from the floor, you should be able to remove and replace only the bottom sections that sustained flood damage, leaving the existing wallboard on the upper half of the wall.

To determine whether water is inside the walls, punch or drill holes about 2 inches above the floor. If the walls do contain water, you’ll need to drill holes into each cavity between wall studs (which are typically spaced every 16 or 24 inches) to drain the water. If you’re going to remove the wallboard, it’s easiest to punch holes with a hammer.

Walls covered with plaster and lath can usually be saved unless the plaster has pulled away from the lath. If plaster walls are sound, drain any water out of the stud cavities and then thoroughly dry out the walls by encouraging air circulation with fans and ventilation – this can take some time, possibly weeks.

Regardless of the walls' surface material, those walls containing fiberglass or cellulose insulation that has been soaked during flooding will need to be opened up so the insulation can be replaced. If your home has foam insulation, you may be in luck. Foam insulation can often be hosed-off and re-used.

Wood wall studs, paneling, wood floors and solid-wood doors can usually be cleaned up, disinfected of mold and toxins and allowed to dry naturally. Then they can be re-used. Wood wall paneling should be pried away from the wall along the base so air can circulate behind it. Hollow-core doors will need to be removed and replaced.

Fortunately, concrete-block walls usually survive floods as long as they are allowed to dry.

A dilute mixture of 1 cup bleach to 5 gallons of water can be used to disinfect hard surfaces. To kill and remove mold, use a stronger mixture of 1 cup bleach to 1 gallon of water. Wear old clothes, rubber gloves, rubber boots and safety glasses when working with bleach. Never mix ammonia and bleach – the fumes can be deadly.

Unfortunately, in most situations, carpeting, carpet pads, rugs, upholstered furniture, mattresses and bedding will be ruined if they were drenched by flooding. Not only does the water and mold wreck them, but mold can grow inside them. If this is the case, pull them out of the house (cutting up wall-to-wall carpeting first makes it easier to manage as you pull it out of the area). In some cases, valuable carpets can be removed and professionally cleaned and dried. You can machine-wash and dry small rugs.

Because wallpaper and wall coverings slow down drying and encourage mold growth, it's probably best to strip them from the walls.

To dry out raised (non-slab) floors, air must circulate around them. Pump any standing water out of the basement or crawlspace. If the floor is covered with vinyl tile or linoleum flooring that is peeling up, remove the floor covering so the underlayment can dry out.

Once you've arrived at this stage of drying out your house, you'll be well on the road to rebuilding your home and your life.

4 Reasons to Buy a Home This Fall!

 Here are four great reasons to consider buying a home today, instead of waiting.

1. Prices Will Continue to Rise

CoreLogic’s latest Home Price Index reports that home prices have appreciated by 6.7% over the last 12 months. The same report predicts that prices will continue to increase at a rate of 5.0% over the next year.
The bottom in home prices has come and gone. Home values will continue to appreciate for years. Waiting no longer makes sense.

2. Mortgage Interest Rates Are Projected to Increase

Freddie Mac’s Primary Mortgage Market Survey shows that interest rates for a 30-year mortgage have hovered around 4%. Most experts predict that rates will rise over the next 12 months. The Mortgage Bankers Association, Fannie Mae, Freddie Mac and the National Association of Realtors are in unison, projecting that rates will increase by this time next year.
An increase in rates will impact YOUR monthly mortgage payment. A year from now, your housing expense will increase if a mortgage is necessary to buy your next home.

3. Either Way, You Are Paying a Mortgage

There are some renters who have not yet purchased a home because they are uncomfortable taking on the obligation of a mortgage. Everyone should realize that, unless you are living with your parents rent-free, you are paying a mortgage – either yours or your landlord’s.
As an owner, your mortgage payment is a form of ‘forced savings’ that allows you to have equity in your home that you can tap into later in life. As a renter, you guarantee your landlord is the person with that equity.
Are you ready to put your housing cost to work for you?

4. It’s Time to Move on With Your Life

The ‘cost’ of a home is determined by two major components: the price of the home and the current mortgage rate. It appears that both are on the rise.
But what if they weren’t? Would you wait?
Look at the actual reason you are buying and decide if it is worth waiting. Whether you want to have a great place for your children to grow up, you want your family to be safer or you just want to have control over renovations, maybe now is the time to buy.

If purchasing a home for you and your family is the right thing for you to do this year, buying sooner rather than later could lead to substantial savings.

If you have decided to put your house on the market, it would be a sad and painful experience seeing it remain unsold for months and months on end. A Realtor will help in selling your home fast. Realtors have contacts and tools which are used to clinch the deal. Give me a call today! timgrissett.com

Probably one of the most important questions a home buyer can ask themselves! When you buy a home, you are also buying a lifestyle and neighborhood.

Home 101: How To Know If You Need A New Roof

Knowing when to repair or replace your roof isn’t always an easy decision.

If you find a single, isolated leak that only affects a small section of your roof, repair is often the better choice. If you have an old or deteriorated roof, replacement may be necessary. But when the extent of the damage is unknown, the question of whether to repair or replace comes down to your roofing material.

The five most popular roofing materials for residences are asphalt, metal, slate, tile and wood. Based on the type of roof you have, there are a few things to consider when deciding between roof repair and roof replacement.

Asphalt Shingles

Asphalt shingles are a popular, inexpensive roofing material. But not all asphalt is created equal. In fact, it’s best to avoid inexpensive shingles. Cheap asphalt shingles won't withstand sun exposure, rapid temperature changes or other extreme weather events. It’s a good idea to opt for durable and higher quality asphalt shingles.

Asphalt shingle roofs usually come with guarantees of 20 to 50 years. It's typically in your best interest to invest in a longer guarantee up front, rather than having to buy an entirely new roof after a shorter warranty expires.

Asphalt tiles are inexpensive and easy to replace, but they tend to age far more quickly than other roofing materials. Fortunately, the cost-effective nature of asphalt makes whole-roof replacements less expensive than a single installation of more expensive roofing materials.

Average Repair Cost: $250

Average Replacement Cost: Depending on the size of the roof and the quality of materials, professional installations can cost between $1,700 and $8,400.

Metal

Thanks to major advances in design and construction, today's metal roofs are an elegant, durable and increasingly popular choice for homeowners.

Metal roofs, while expensive, are known for their durability. In fact, most come with a 30- to 50-year warranty. If properly galvanized, metal roofs are also rot-proof and resistant to rust.

If your metal roof requires regular repairs, it may need to be replaced. In the event of minor weather damage, quick repairs should address the problem.

Average Repair Cost: $300

Average Replacement Cost: $7,570

Slate

Slate roofing’s high-end looks make it a popular choice for many homeowners. Slate is a relatively brittle material, and individual tiles may break from time to time. With that being said, slate tiles as a whole can last for over 50 years.

With a slate roof, replacement is almost never the best choice. Unless your roof is more than 70-years-old, there's a good chance that extensive repairs will be a better investment than a total replacement.

Average Repair Cost: $530

Average Replacement Cost: It will cost between $17,000 and $84,000 to install slate on a 2,000-square-foot home. For homes that are 3,000-square-feet or more, costs can range from $27,000 to $120,000. The location and complexity of the job can also affect costs.

Tile 

Tile roofing is expensive to install, but it will last much longer than most materials. Tile roofing performs better under harsh conditions than other roofing materials and acts as a great insulator as well. Energy-efficient roofing will help you keep your home warmer in the winter and cooler in the summer.

Average Repair Cost: $350

Average Replacement Cost: $11,761

Wood

Wood roofing is aesthetically pleasing, but it comes at a higher cost and requires more maintenance than other materials. Wood roofing’s short lifespan and regular upkeep have reduced its popularity, but many design-focused homeowners still find wood to be a suitable material.

Consider replacing your wood roofing with a durable and cost-effective material if it’s in need of more than just a minor repair.

Average Repair Cost: $360

Average Replacement Cost: A natural wood roof can cost $6,800 to $20,000 to replace. Simulated and composite wood shingles run from $12,600 to $18,900.