The Perfect Kid-Friendly Yard

Sending the kids outside to play is a time-honored tradition for American families. Many people were raised with plenty of time in their yards to get dirty before coming indoors for dinner. If you want to give your kids a safe and fun place to play in your own yard, what should you consider? Here are some great ways to improve your yard for fun and safety.


Make a Chalkboard
Writing on the sidewalk in chalk is a rite of passage for a lot of small children. It makes for easy cleanup because the chalk washes off in the rain. You can take this to the next level by building an outdoor chalkboard to encourage art at all times.

Paint a section of wood with chalkboard paint, available at most big-box stores. Hang the wood, along with a simple frame, on a vertical surface such as a fence, or build it into the surface of a table for a horizonal play area. Then all it takes is some inexpensive chalk to give your kids hours of creative fun.

Hang a Swing
You can certainly invest in a swingset, but all you really need is a sturdy tree to make a perfect swing for a child. You can use anything from an old skateboard deck to a small tire as the seat of the swing. Tie it securely to a tree branch with a thick rope, and you have a nearly free way to entertain your kids.
Add a Tetherball
With the same ingenuity, you can make sure your kids stay active outside with a tetherball. There are commercially available tetherball sets, or you can use an old ball and some rope to create the same experience. And with this outdoor play option, you'll never have to chase a ball into the street or apologize because it's in your neighbor's yard again.
Build a Trampoline
Many parents are concerned about the safety of trampolines. One way to have a safer trampoline in your yard is to build it into the ground, much as you would do with an in-ground pool. Depending on the size of your trampoline, you need to sink it deep enough to ensure safe jumping. You can then surround the trampoline with a mesh safety barrier.
Hang a Quiet-Time Hammock
Not all kids are rough and tumble, and they may need some quiet time. A hanging hammock for reading is a great way to encourage your quieter, indoor-oriented kids to go outside for summer sunshine. This reading nook can be anything from a simple hammock to a more elaborate hanging tent space.
Play With Water
Many of us grew up with the ability to run through the sprinkler on a hot summer day. It's a great cooling-off alternative if you don't have the space or budget for a pool. You don't have to invest tons of money to provide your kids with a safe water feature for play. There are plenty of commercially available toys that can be hooked up directly to your garden hose. Or you can take a more homespun approach by filling a small tub with water for splashing.
Are you looking for more kid-friendly yard ideas? Call us to learn more about creating a safe and attractive yard.

How to Increase Your Equity Over the Next 5 Years

Many of the questions currently surrounding the real estate industry focus on home prices and where they are heading. The most recent Home Price Expectation Survey (HPES) helps target these projected answers.

Here are the results from the Q2 2019 Survey:

• Home values will appreciate by 4.1% in 2019
• The average annual appreciation will be 3.2% over the next 5 years
• The cumulative appreciation will be 16.8% by 2023
• Even experts representing the most “bearish” quartile of the survey project a cumulative appreciation of over 6.7% by 2023

What does this mean for you?

A substantial portion of family wealth comes from home equity. As the value of a family’s home (an asset) increases, so does their equity.

Using the projections from the HPES, here is a look at the potential equity a family could earn over the next five years if they purchased a $250,000 home in January of 2019:Based on gains in home equity, their family wealth could increase by $42,000 over that five-year period.

Bottom Line

If you don’t yet own a home, now may be the time to purchase. Owning or moving up to your dream home could allow you to ride the increase in equity of a growing asset.

Home Price Expectation survey – Every quarter, Pulsenomics surveys a distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 5-year expectations for future home prices in the United States.

3 Things to Know About Negotiating a Closing/Move-in Timeline

In real estate, timing is a critical ingredient that can shape the sale. Relocation logistics, the timeliness of a lender to process a loan and even the availability of local contractors to fix things required by an inspection can drive, or delay, the closing date. Here are a few things to consider as you and your agent work to set closing and move-in dates.

1. Speed can tip the scales
Do you have your loan in hand and the flexibility to move out of your current home? Depending on the seller’s situation, this could be a tasty carrot in the negotiation process. Your agent may be able to feel out the seller’s urgency (or lack thereof) to sell and determine if they might accept a lower offer for a faster settlement.

2. Going long
Asking for a delayed settlement date, longer than 30 or 45 days, is another option, but generally less appealing to sellers. Each day is another opportunity for something to go wrong that could kill the deal. The buyer’s financial situation could change, or they might find a home they like better.
As a seller, if you are considering accepting a long closing date, an agent may suggest increasing the amount of earnest money stipulated in the contract. Also, you’ll want to consider adding the additional months’ mortgage you’ll be paying to the asking price.

3. Considering “rent backs”
Closing quickly and then renting the home back to the seller can make the schedule work for buyers or sellers who might not be able to pack up and move immediately. With this option, the buyer faces the greater risk. What if there’s a fire, a flood or a pack of crazy teenagers that run amuck during the rental period? If you consider the rent-back route as a buyer, work with your agent to develop a solid rental contract that spells out liability.

With years of negotiating experience and an in-depth knowledge of the current local market, a savvy Realtor can build a sales timeline that works to your benefit, both financially and logistically.

Sellers: How to Decide Between Multiple Offers

What a splendid dilemma! You’ve received several offers on your property. Which one should you choose? It’s not always the highest one.

Here are just some of the areas your agent could ask you to pay particularly close attention to as you’re weighing the options.

1. Do the math.
This goes beyond simply calculating the dollar difference between the various offer prices. Before you do that, be sure to do all the math. Subtract things like closing costs, fees and potential repairs to determine the net proceeds of each offer.

2. Consider the financing.
Can the buyer provide proof from the bank that there are funds to back the offer? Your agent can help verify this — and help you understand the terms of the buyer’s financing.

3. Motivation.
Do the buyers have a baby-sitting parent in the neighborhood? A new job just around the corner? Buyers with extra motivation to purchase your home are less likely to press for concessions and more likely to work harder to close the deal. Some buyers even include a personal letter with their offer to explain why they want the home. These letters can be particularly helpful in multiple-offer situations.

4. Timeline.
Note the closing date each offer proposes. You’ll want a closing date that best meets your needs. You can always counter a closing date, too, if the best offer doesn’t quite meet your timeline.

Weighing the pros and cons of each offer can be tricky. An experienced agent can help you clarify, calculate and secure the very best deal for you.

When to Sell: Tips for Watching the Market

As first-time homeowners, you might get to a point where it’s time to sell your house and move on to your next home. However, you don’t want to sell your home at the wrong time—you might have trouble finding buyers or you might miss out on making the most money back.
Therefore, it’s crucial to watch the market in order to gauge whether it’s time to put your house up for sale. There are several things to consider before doing so, especially when it comes to a decision as big as this.
Here are a few tips for watching the market when deciding to sell your house:

• Consider the time of year
• Think about the job market
• Research your local housing market
• Don’t get obsessed with timing

Consider the time of year

As you may recall when you bought your first house, there might have been a time of the year that you favoured when looking for a new home. This undoubtedly influences other homebuyers.
It’s crucial to consider the time of year since there are numerous effects that a season has on a home and the real estate market. Buyers typically stray away from the coldest months of the year, which is why most buyers look to purchase homes between the spring and fall seasons.
Many people would rather buy and move to a new home during the spring and summer months to avoid the worse conditions in winter. Moving homes is very much a hassle, so it’s understandable that new homeowners would want to move during a less busy time of year. Families find it much more convenient for their kids to move to a new home and area when school is out, as this would give them enough time to settle in before they start a new year at a different school.
However, that isn’t to say that you should only sell your house between the spring and fall. While many buyers may be looking for a new home, there may be more competition on the market during these months. Other sellers understand that this is a great time to sell, but many don’t realize the amount of competition they may face.
Despite the time of year and the potential amount of people looking to buy, the number of listings can be abundant. This can impact how long you’ll be listed until you find the right buyer. Some sellers might find it more advantageous to tackle the market when there are less listings and competition. While there may be fewer buyers, there are always people looking to purchase homes year-round. Keep your eye on the market and consider if it’s truly time to sell your house.

Think about the job market

Finding the right time to sell goes beyond than simply the time of year. A good way of determining the best time to sell involves thinking about when people want to buy. The hotter months of the year may be convenient times for families looking to move. However, people also look for homes when new jobs become available.
Consider the job market in your local area. There may be a new manufacturing plant opening nearby. If you currently live in a metropolitan area with nearby public transportation, housing may be incredibly expensive in dense cities like Toronto or Vancouver. Buyers are likely to seek out homes in areas with commuter connections. New jobs mean new residents that need homes. These events are prime opportunities to sell your house potentially quickly and possibly at a higher price.

Research your local housing market

Pricing is critical to figuring out when to sell your home. Home-sellers would much rather sell their house at market price or higher than incur a short sale. Research past housing prices in your area to gauge the current state of your local housing market. Figure out if the market is up or down. It’s important to determine the state of your housing market when deciding to sell your home, as it can loosely predict if housing prices may go up or continue to fall.

Don’t get obsessed with timing

While timing may seem like everything when selling your home, you must make a key decision at some point. Homeowners looking to sell often become obsessed with timing to the point where they pass on key opportunities that they may regret.
When watching the market, one of the most important tips to understand is to determine what you think is best for you and your home. Consider everything from the time of the year to the current job and housing market. Determine when your house is most appealing—whether it be in the literal sense or figurative. For example, your home might literally look best during the spring and summer months, so it may be best to consider selling it then to attract potential buyers. On the other hand, when new jobs open, more people will be looking to buy in your area which can make your home very appealing to these buyers.
At the end of the day, it’s your decision—so it’s crucial to research the market as much as you can to make a well-informed one.

Sources

https://www.moneyandbills.com/timing-real-estate-market-secrets/

Delay Will Usually Cost More

Two things can happen when the mortgage rates go up before you've found a home or locked-in your mortgage.  You'll either pay the current mortgage rate which means a higher payment, or you'll have to increase your down payment to keep the monthly payment at the same level.

If the rate were to go up by ½%, the payment on a $275,000 mortgage would increase by $82.87 per month for the entire 30-year term.  That would increase the cost of the home by $29,835.

Some people are purchasing the maximum home that they can qualify for.  In that case, they cannot qualify for a higher payment and the only way to buy the same price home is to put more money down which may not be a possibility.  The other alternative is to buy a lower price home which may not be in the same area or size which will involve some compromises.

The rate is not the only dynamic that affects buyers waiting to purchase.  The home they want could sell to someone else.  Prices could increase as new homes come on the market.  The question that many buyers ask themselves when they become a victim of the consequences of delay is "What could we have spent the money on if we didn't have to make a higher payment?"

Mortgage rates are very attractive currently and within ½% of the all time low of 3.35% in December 2012.  The highest rate was 18.45% in October 1981.  Whether you're purchasing or refinancing, it may not be this low again.

What Do I Need to Know About Mold?

There are few things that homeowners dread more than mold in the house. You’ve likely heard horror stories about people living with mold infestations that made them seriously ill. Is this just hype, or is there a real danger to having mold in your home? More importantly, what can you do if you find mold growing somewhere in the house?

What Is Mold?

Mold is a broad group of fungi, with thousands of species and subspecies around the world that typically prefer dark and damp habitats. Often fuzzy in appearance (though occasionally slimy or cottony), molds spread across materials and break them down to get the nutrients the mold needs to survive and thrive. Instead of seeds, molds release single-celled spores that in many cases are too small to see with the naked eye; these spores float through the air to land on a variety of surfaces, beginning growth once they find themselves in a suitable habitat. Though molds are made up of a number of individual stalks fibers, a connected clump of mold is considered to be a single living entity.

Types of Mold

There are several common types of mold that you might see around the house. While some of these may not be inherently dangerous, any mold can trigger reactions in anyone with an allergy or sensitivity. The five most common of these molds are:

• Aspergillus: One of the most common indoor molds, it often appears green, blue-green or gray but can also appear white or even yellow.
• Cladosporium: A black or green mold that has an appearance like ground pepper, it commonly grows on smooth surfaces like toilets and painted walls but can also grow in fabrics and rugs.
• Ulocladium: A black mold that grows in wet areas, especially in cracks and corners; it is most common in homes with water damage and active leaks.
• Aureobasidium: Varying in color from pink to brown or black, this mold most commonly grows behind wallpaper, on painted surfaces and on wood.
• Stachybortrys: The infamous “black mold”, it features a slimy dark green or black color and thrives in areas that are damp and maintain high humidity for weeks.

Is Mold Actually Dangerous?

While many molds are allergens, most will not cause severe reactions unless you have a mold sensitivity or have other health problems that make you more prone to infection. However, some molds (such as black mold) actually are toxic and can make you very sick if you’re around them for too long. Symptoms of a mold allergy or toxic mold exposure can include a chronic cough, skin rashes, fatigue, difficulty focusing and even pain or infection in your sinuses, eyes and ears.

Mold Testing and Removal

If you suspect that you have mold problems, there are home tests available to help you identify the type of mold in your home. These should only be a first step, however, as they often aren’t enough to definitively show you the scope of your mold problem. Call in an expert to confirm the results of your test or take a scraping of the mold and have it analyzed. Be sure to wear a dust mask or other breathing protection if you aren’t sure what type of mold you’re dealing with until the problem is taken care of.

For many mold infestations, getting rid of leaks or other sources of humidity is a great way to slow or even stop mold growth. Mold can cause serious damage over time, however, so you may need professional mold removal and repair services if you can’t get the problem under control early.
Is your home in need of some serious mold removal?