Do's & Don'ts

If your considering buying a house within the next 90 days.

Do

1. Research the internet for tips on buying a home.
2. Contact your choice of Lender to obtain pre-qualified letter.
3. Get familiar with the area of choice for which you will purchase your home.

Don't

1. Make any large purchases.
2. Look at homes until you have obtained your pre-qualification letter from your choice of lender.
3. Use multiple Realtors to look at homes.

Have a Wonderful day!

Jingle bells Christmas is near

14 days until Christmas.....Who wrote Santa and asked for a key to a Brand New Home??

Jobs Fall Short

Jobs Fall Short

 

With the end of the government shutdown, investors turned their attention to the economic data. The September Employment report was weaker than expected, while the rest of the data released this week was mixed. As a result, mortgage rates ended the week a little lower.

 

Delayed by the shutdown, the September Employment data was released on Tuesday. Against a consensus forecast of 180K, the economy added just 148K jobs. The Unemployment Rate unexpectedly dropped from 7.3% to 7.2%, the lowest level sinceNovember 2008. The decline was mixed news, though, since it was due to both job gains and to people who left the labor force, meaning that they stopped trying to find a job. Bottom line, the results were weaker than what Fed officials would like to see. Between the ongoinguncertainty about future fiscal policy and the slow pace of improvement in the labor market, investors now expect that the Fed will not begin to taper until at least the March Fed meeting.

 

While the labor market data disappointed investors, the housing market continued to perform well. September Existing Home Sales were just slightly down from the four-year high reached in August, and they were 11% higher than one year ago. Total inventory of existing homes available for sale was unchanged at a five-month supply. Since the Existing Home Sales data is produced by the National Association of Realtors, it was unaffected by the government shutdown. The New Home Sales report, which is produced by the government, is delayed.

 

 

Next week will be packed with economic news, as the calendar includes many reports that were delayed by the shutdown. Wednesday will be the biggest day due to the Fed meeting. Investors will be looking for indications that Fed policy will not change any time soon. The crowded calendar includes Industrial Production and Pending Home Sales on Monday, PPI and Retail Sales on Tuesday, CPI on Wednesday, Chicago PMI on Thursday, and ISM Manufacturing on Friday. And that's not all, as there will be Treasury auctions on Monday, Tuesday, and Wednesday.

 

IDEAS TO HELP AVOID APPRAISAL ISSUES

IDEAS TO HELP AVOID APPRAISAL ISSUES

Written by Hank Miller on Thursday, 26 September 2013 14:12

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Appraisals continue to be a potential issue with every contract; we expect this to worsen come the Atlanta spring ’14 housing market. What if agents and sellers calmly considered options before problems arose; took a step back to think ahead? What if instead of trying to fight a losing battle after a contract is submitted, appraisers were consulted prior to the event? What if sellers went in with something to legitimately challenge a low appraisal with? Like another appraisal?

Atlanta homeowners planning to list over the next few months would be very wise to consider the expected turbulence; we see a challenging market due to many factors. It is reasonable to assume that accurate list price will be critical; do you trust yourself or your agent to determine that? Are you a seller that expects to increase list price based on the media reports that “the market has improved and prices are up”? Do trends nationwide relate to your micro market? No. A staggering 77% of home sellers overestimate the market value of their homes, often deriving value in ways the market will not consider. Previous purchase price, money invested, assessed value, insured value, what I think, what my neighbor said....irrelevant. Home sellers should hire an independent appraiser in advance of listing. The benefits are many, a few include:

• An impartial review of the SPECIFIC micro market and trends therein
• An impartial opinion of value – find out what the home is worthbased upon legitimate comps
• A check against listing agents – you’ll quickly see if that agent has the data an appraiser has
• An impartial evaluation of the home – it will be looked at like an appraiser, not an agent
• A current appraisal can be used while marketing the home

Agents should consider suggesting and even including appraisals in their listing program:

• An appraisal can bring unrealistic sellers back to reality
• Listing price can be based on the appraisal, not only the agent’s opinion
• An appraisal can be given to the buyer’s appraiser, this can help establish credibility of the offer
• In the event of an appraisal issue, the appraiser can be consulted to help resolve the problem

Most appraisals start at $375+- and increase depending on the complexity of the home. It’s a good idea to inquire and ask if the appraiser will be willing to update it as needed or help out in the event of a low appraisal. The key is to be prepared and to trust the professionals. The requirement for experience cannot be overstated; sellers must hold real estate agents to the highest performance standards and verify everything, learn how to select a real estate agent.

Just as agents must be held to high standards, so should appraisers. Select an appraiser that's based in your local market, is active, has all appropriate data and provides references. There are dud appraisers out there just as there are dud agents; it's up to the public to raise the bar. And remember, an appraisal is an opinion of value; while it might be expected that there will be a narrow range there might not be. However, getting that bank appraiser useful and applicable information from another appraiser might be the ticket to a smooth transaction.

 

The market continues to toss in unexpected twists and turns, wise sellers will do well to stay out of the fray. Remember, when it comes to real estate transactions, boring is good. Hank Miller is both an active real estate broker and active certified appraiser in the state of GA.

 

Our sellers do not have appraisal issues...

TIPS FOR MAKING YOUR HOME MORE ENERGY-EFFICIENT

TIPS FOR MAKING YOUR HOME MORE ENERGY-EFFICIENT

Written by Robert Yoakam on Friday, 27 September 2013 00:35

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Reduce your energy bills, make your home more comfortable, and help protect the environment by making your home more energy-efficient. The best way to improve your home’s energy efficiency is by first targeting its envelope, which includes the walls, doors, and windows. The next step is to improve the energy efficiency of your home’s systems, such as its heating, cooling, and lighting systems. The following tips will help you transform your home’s energy profile and lower your energy bills.

Weather Strip Your Windows and Doorframes

Use weather strips and draft blockers to seal gaps around your windows and doors. Draft proofing can cut heat loss by up to 25%. If your windows and doorframes are old and leaky, however, you might want to consider replacing them entirely with energy-efficient models. The largest savings are associated with replacing single-glazed windows with ENERGY STAR-rated windows.

Replace Old Kitchen Appliances

Refrigerators guzzle more energy than most other appliances in the house. ENERGY STAR-rated refrigerators are about 15% more energy efficient than models that meet the minimum federal energy efficiency standard. If you choose a new certified model, you can save anywhere from $200 to $1,100 on energy costs over the lifetime of your fridge.

Replacing older washers, dryers, and dishwashers can also make a huge difference in your home’s energy profile. Your washer and dryer are the second and third biggest energy-eating appliances in your home. You could save approximately $135 per year by replacing a washer that is more than 10 years old with an ENERGY STAR-rated washer.

Dishwashers are one of the most expensive home appliances, but replacing an older dishwasher with a newer, energy efficient model can trim your utility bills and save you loads of water in the long run. According to ENERGY STAR, if you have a dishwasher that was made before 1994, you’re paying an extra $40 each year on your utility bills compared to owning an ENERGY STAR-rated model. Moreover, an ENERGY STAR-rated dishwasher will save 1,300 gallons of water on average over its lifetime.

Properly Insulate Your Home

Properly insulating your home will keep it up to 10 degrees warmer in the wintertime and up to 7 degrees cooler in the summer. The cost of insulating your walls, floors, and ceilings will pay for itself in the long run by lowering heating costs.

Proper insulation slows the rate at which heat flows out of your house in the winter and into your house in the summer, so less energy is required to heat and cool your home. When hiring a contractor to insulate your home, keep in mind that the contractor’s level of expertise is more important than the insulation material used.

Install a Programmable Thermostat

Just like you would flip the lights off before leaving the house for work, it’s ideal to turn your heating or cooling down before leaving your home. Install a programmable thermostat and set it so that it is at a higher temperature when you’re away during the day in the summer and at a lower temperature when you’re away during the day in the winter.

Plant Shade Trees and Shrubs Around Your Home

Planting shade trees and other types of vegetation in front of large windows outside of your home can block the sun as well as cold winds. The foliage blocks radiation from the sun that warms the house in the summertime, while in the winter, the bare branches let the radiation come through. Good landscaping can make a huge difference in the energy efficiency and comfort of older, poorly insulated homes, but the difference isn’t so noticeable in homes that are well insulated and have energy efficient windows.

If you’re looking for a homes for sale in Columbus, Ohio, get in touch with Rockford Homes. We are Columbus, OH homebuilders who pride ourselves in building energy-efficient homes throughout Central Ohio. The average Home Energy Rating System (HERS) rating of new homes we build is 63. In comparison, the typical new home built to code has a HERS rating of 100. The lower the number, the more energy efficient your home is. With Rockford, you can save over $1,000 per year in energy costs compared to a typical resale home and over $600 per year in energy costs compared to a typical new home. Contact us today for more information about our energy-efficient homes!

WHAT IS A BUYERS' MARKET?

WHAT IS A BUYERS' MARKET?

Written by Blanche Evans on Wednesday, 02 February 2000 18:00

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No matter what town you are living in or where you want to move, the home buying and selling market will be swinging toward one of two directions. Either it will be in a buyers' market or a sellers' market, or sometimes, a little of both.

Most real estate practitioners consider a typical market to be one in which homes take an average of six months to sell. REALTORS® keep track of this number by keeping up with the days on the market (DOM) of every home listed and sold. That means that in the MLS, there are likely to be at least six months worth of inventory (homes) on hand to sell for the number of buyers in the market. If the number rises above six months inventory on hand, then the market is swinging into a buyer's market. If it falls below, it is becoming a seller's market.

A buyer's market is one in which there are too many homes on the market for the number of buyers. Homes take longer to sell and prices fall.

Sometimes buyers believe that winter time is a buyers' market. Although it is true that there are fewer buyers, there are usually a compensating fewer homes on the market as well. Homes offered for sale during slower times of the year are generally aggressively marketed, and may not sell for a significantly lower price than they would if they were marketed in a busier period.

In the spring, a seasonal adjustment occurs, and more homes come on the market. Buyer activity picks up as families with children (still the single largest buyer demographic) buy homes so they can move during summer vacation. A buyers' market can easily exist in the spring, if conditions dictate - that there are more homes than buyers, falling prices, and longer DOMs.

Sometimes a buyers' market can be created that lasts for a long time. The exit of one or more major employers from a community, a natural disaster such as a flood or earthquake, or some other catastrophic event can affect home values in an area for years.

Seasonal or not, any time there are more than six months' inventory on hand, there is a glut of homes on the market. Whenever there is a surplus of homes, and prices begin to drop, sellers will work harder to attract buyers, including adding incentives such as owner-financing or a large "redecorating allowance."

As homes become more competitive, buyers realize that their interest is at a premium and they will increase their demands to sellers. Those nice chandeliers that normally would not be included in the purchase price of the home, now become a bargaining chip for the buyer. The buyer may ask the seller to provide a home warranty at the seller's expense, or for the seller to pay more of the closing costs than usual out of the settlement proceeds, or any number of other contingencies.

People who have occupied their homes for many years may be able to sell their homes at a profit in a buyer's market because they have built equity, but they will find that if they have performed little or no improvements the home will compare even more poorly with the glut of homes on the market and it will command bottom dollar.

Sellers who are in a must-sell position may take little or no profit from the sale of their homes, or may even be forced to take a loss. The homeowners who are most hurt by a buyer's market are those with little or no equity built into the home. If they are forced to sell, they may have to come to the closing table with cash to pay their mortgage off or allow the home to be repossessed by the lender.

The one certainty that can always be counted upon is that one side of the market will never stay on top forever. In fact, it can turn on a dime. The same area that remains depressed for a period of time can make a comeback as lower prices stimulate reinvestment.

Focus is on Congress

Focus is on Congress

 

The lack of progress in Congress on reaching an agreement on the budget and the debt ceiling was the focus for investors this week. The resulting uncertainty caused investors to shift to safer assets, which helped mortgage rates end the week lower.

 

After a week filled with market moving comments from Congressional leaders, the Republicans and the Democrats still appear to be far apart on bills for next year's budget and for raising the debt ceiling. If no deal is reached, some government functions may soon lose their funding. It is difficult to predict the degree to which this would impact the economy, but it likely would slow growth. Investors reacted to the uncertainty by selling riskier assets such as stocks and purchasing relatively safer assets including mortgage-backed securities (MBS). Since mortgage rates are mostly determined by MBS prices, rates improved.

 

Overshadowed by the impasse in Washington, the housing data released this week continued to show solid results. August New Home Sales rose 8% from July and were 13% higher than one year ago. August Pending Home Sales declined a little from July, but they were still 6% higher than one year ago. The Case-Shiller 20-city home price index was 12.4% higher than one year ago, which was the largest increase since February 2006.

 

 

Investors will continue to follow the budget and debt ceiling discussions next week. Friday's Employment report also will receive a great deal of attention. As usual, this data on the number of jobs, the Unemployment Rate, and wage inflation will be the most highly anticipated economic data of the month. Earlier in the week, ISM Manufacturingand Construction Spending will be released on Tuesday. ADP Employment will come out on Wednesday. ISM Services and Factory Orders will be released on Thursday.

 

Weekly Mortgage Update

Jobs Fall Short

 

A lack of US military action in Syria caused investors to reverse last week's safety trade, while mixed economic data was roughly neutral. As a result, mortgage rates ended the week higher.

 

Since Fed officials have tied future policy changes to the performance of the economy, investors have reacted strongly to incoming economic data. Nearly all of the data released ahead of Friday's Employment report wasstrong. The ISM Manufacturing and ISM Services data rose to multi-year highs. Construction Spending posted solid gains. Jobless Claims remained close to five-year lows. The Fed's Beige Book reported that economic growth remained healthy. In short, all signs pointed to a clear path for the Fed to begin to slow the pace of its bond purchases.

 

The final, and biggest, piece of the puzzle broke the pattern, however. Friday's highly anticipated Employment report fell short of expectations in nearly every area. This was bad news for the economy, but it was favorable for mortgage rates. Against a consensus forecast of 175K, the economy added 169K jobs in August, but the figures from prior months were revised lower by 74K. The Unemployment Rate unexpectedly declined from 7.4% to 7.3%, the lowest level since December 2008. Digging deeper, though, the details revealed that the decline was entirely due to people dropping out of the labor force rather than job gains. The labor force participation rate (the percentage of people able to work who are working or are looking for work) dropped to the lowest level since 1978. The Employment report caused investors to question whether the Fed will begin to taper its bond purchase program at its next meeting.

 

 

•	ISM Services increased to the highest level since Dec. 2005
•	ISM Manufacturing rose to the highest level since June 2011
•	Auto sales rose to the best level since Nov. 2007
•	The European Central Bank made no change in rates

 

 

Next week, the big day will be Friday when Retail Sales, PPI, and Consumer Sentiment will be released. Retail Sales account for about 70% of economic activity. The Producer Price Index (PPI) focuses on the increase in prices of "intermediate" goods used by companies to produce finished products. Import Prices will be released on Thursday. There will be Treasury auctions on Tuesday, Wednesday, and Thursday. The highly anticipated Fed announcement will come out on September 18.

 

What to Expect When Selling Your House

If you have made the decision to sell your house, you probably know a little bit about what is going to happen next. One of the reasons why selling or buying a property is so frustrating is all the paperwork. You might find it useful get your paperwork done early on and not wait until the last minute, because you might encounter some problems - like missing documents, for example.

You will need to have your records of tax payments available in order to prove to the buyer that there aren't any late taxes at the time of the purchase. Your financial records will show any current debt on the property and will prove to the buyer that you have the right to sell the property. The legal property description will provide the buyer with information about certificates of titles, quick claim deeds and any warranties that may apply. A property listing is necessary to show the buyer exactly what he or she is getting - is it just the house, or is part of the furniture included in the price - everything needs to be described accordingly. It will help you out a lot if you have all the required documents sorted out because if for some reason you don't have them all (either you lost them or misplaced them) you will probably pay a lot of fees for getting new ones.

An easy way to sell your house is to get in contact with a real estate investor. These types of companies have the money to buy your house right away. You wouldn't have to wait for a buyer to get pre qualified, qualified, pre approved, and finally approved for a loan.

One of the good and credible real estate investors is the Real Solution Investors [http://www.rsibuyshomes.com/]. You can call them up to get more information.

Article Source: http://EzineArticles.com/?expert=Steven_Baker

Article Source: http://EzineArticles.com/1266241

Buying A Home? What To Expect

Buying a new home can be an intimidating journey. From figuring out how much you can afford to dealing with delays on closing day, it can be a test of character for a lot of people, especially if it's your first time around. You may feel that you have the personality type and knowledge to handle the home buying process yourself, because after all, who hasn't negotiated some kind of a deal in their lives? Whether it was trading that baseball rookie card for the whole team line up or swapping your old car in for a new one, you've no doubt been involved in some sort of transaction.

Needless to say, buying a house is one of the most significant decisions you will make in your life and there's a reason that trained professionals exist. Having the guidance and protection of a licensed Realtor working for you can mean the difference of smoothly settling into your family's new home without incident, or getting tangled up in expensive and unexpected repairs or legal costs.

If you're about to embark on this exciting part of your life, here are some things that you can expect to encounter along the way:

1. Getting Pre-Approved

How much house can you afford? There are very few people out there that can accurately answer this question themselves. Unless you've got an extra few hundred grand sitting your bank account, your top price when shopping for a house depends on how much the bank or lending institution is willing to finance for you. There are many factors that a lender will consider when calculating your top end. Monthly income, monthly debt, credit history, credit score and employment history are some of the main ones. You will need to speak with a mortgage specialist since he or she will be the one to calculate these factors with the proper ratios.

Bank or Mortgage Broker?

There are generally two options when deciding who to use. A bank will typically have a few different mortgage options of which they will help you to determine what works for you. Using a banks "in house" mortgage option may get you a better rate or terms that are only offered by going through the bank, however this is not always the case.
A Mortgage Broker outside of the bank will "shop around" for a suitable lender that fits your particular situation. This will typically give you more options and could increase your chances of obtaining the best rate or terms.

With competition being at a healthy pace, both of these options are worthwhile and at any given time one may get better results than the other. You would benefit from talking with both to see which happens to be best for you.

Pre-approval will also strengthen your offer when the time comes, especially if you're competing with other buyers. The seller doesn't have to wonder if you can come up with the money on closing day.

2. Viewing Houses

Bungalow? Condo? Townhouse? I sometimes hear home buyers say "I'll live anywhere" or "We want to see everything!" Try to narrow down what you want in a home. Do you want a small Condo downtown or a 2 story in a subdivision? Do you want an older house or a newer one? How far from work would you like to be? How close is the nearest school or grocery store? Keep in mind that there can be hundreds of homes for sale in your price range so try to determine what you definitely do or don't want before you start looking.

Viewing houses will let you know what your price range has to offer. The way a house looks on a computer screen will undoubtedly be different than how it feels when you are inside to see it for yourself.

Do a drive by before you set up a viewing to check out the neighborhood and curb appeal. This can save you from wasting time on houses that can be ruled out. Once you are educated on your local market, you will be able to spot a deal when it comes along.

3. Making An Offer

You've found the home you want, now you need to make the seller want to sell it to you. How long has it been up for sale? Are there other offers being presented from other buyers? These are some of the factors that will influence what amount you should offer. Remember, you want to make your offer as appealing to the seller as possible. If they get offended at the price you put forth, you can severely damage your chances at getting the home for a fair price.

And there's more than just the price to consider. Are you asking for any furnishings or appliances? Is there a renovation or repair that needs to be completed? You may want to include certain conditions that must be met before the deal will close. Surveys, Property Condition Disclosure Statements and Condo Bylaws are just a few other things that might need to be addressed before the sale is final.

Every offer will usually need a deposit that is due upon acceptance of the offer. It's best to have this ready when you write the offer. If the deal falls apart due to any conditions that are not met, the deposit is returned to you.

A "Home Inspection" clause should be included in most offers with the possible exception of new home construction. Home inspections uncover any hidden defects and problems that exist in the home and have the potential to de-rail a real estate transaction if not dealt with properly. If you're buying an older home you can expect a lengthy home inspection report. You should determine which issues are major and which are minor. The seller has the right to repair any issues raised. They may choose to offer a monetary compensation or reduction to account for some or all of the defects. They may decide not to offer anything. In that case you have the right to walk away from the agreement and your deposit should be returned to you. Keep in mind that the buyer foots the cost of the inspection and it's non-refundable.

4. Choosing A Lawyer

Every real estate transaction requires a lawyer. Legal fees will vary from firm to firm and only account for a portion of your final closing costs. The remainder of this expense covers things like mortgage registration, survey costs and other administrative expenses which are outside of what the lawyer charges. If possible choose a lawyer that has a good amount of experience with real estate. It can really make a difference to whether or not you close on time.

5. Final Walk Through and Closing Day

Word of advice, take the day off work when closing day arrives. You'll want to do your walk through as early as you can and if there are issues that need to be dealt with on closing, you want to have the entire day to sort it out if you hope to close on time.

The purpose of the walk through is to verify that the property is in the condition that was agreed upon in the final agreement. If you asked for any furnishings or repairs to be completed, now is the time to confirm it. It's also the time to make sure there hasn't been any damage incurred to the property. If a water pipe has broken the night before and the basement has been flooded, you likely won't be closing on time!

If the walk through is acceptable, you tell your lawyer that you are ready to close. If there are any last minute delays (and there certainly can be) which push the closing to the next day, you should do another walk through that morning as well to ensure that there was no overnight damage.

Don't have the moving trucks ready and loaded on closing day. If it gets delayed you will almost certainly incur extra costs to store your belongings in the truck.
When the lawyers have closed the sale, you will receive the keys to your new home!

Remember,

Every real estate transaction is unique and it's impossible to go through every scenario that could arise. Having a Realtor to represent you is that smartest option. Having an agent looking out for you throughout the process outlined above can save you significant money and plenty of stress in the end. In most situations a buyer doesn't pay the Realtor so why not "hire" your own representation for free? Keep in mind, the agent whose name is on the sign represents the seller of the home and will be negotiating and looking out for the best interests of the seller. The selling agent has a commission built in to pay the agent that brings the buyer. Both you and your agent should sign a buyers contract to ensure that you have proper representation when negotiating the sale of a property.

Article Source: http://EzineArticles.com/7357716

It's Hot & Markets Hot!

Now is the perfect time to buy a home. 

Owning verses Renting

Buying is cheaper than renting.
Interest rate are down.
Income tax benefits.
Builds stability.

And much more......when thinking of Real Estate think of Sheila Anderson

I can service all your Real Estate needs.

Window Wonder

Window Wonder

When sizing up a home, either to purchase or to sell it - windows are one feature that can make a dynamic difference. Size and placement of windows affects the character and curb appeal of the home from the outside, and light, views, energy efficiency, air flow, noise and egress from the inside. Done right, windows can make your home everything you would want it to be. Windows that are inadequate can be a headache and an expensive fix.

When examining windows, look at the frames and how they are built into the wall. Understand the materials used and how the window functions. Windows that are designed to open should open and close easily and completely, and have the ability to be secured with a lock. Signs of moisture around the window should be addressed, to ensure that there are no leaks.

Examine the type of material in the window frame. All-vinyl windows generally cannot be painted, and other, older wood framed windows might have so much paint on them that they are difficult to open. While you are looking at the window frames, notice how the windows open, and whether the glass is single, double, or even triple-paned. Depending on your climate, double or triple-glazed windows can make a huge difference on your heating and cooling bill. Gas-filled windows use argon, krypton or other inert gases to fill the areas between the panes, further enhancing the insulating factor. Excellent windows also help to deaden noise from the outside, which can be helpful in urban environments.

Most building codes require each bedroom to have a window, primarily as a means of emergency exit in case of a fire. In the bedrooms, it is important that the windows can open to permit someone to climb out, while also being child-safe to ensure that small children don't fall out. Bathrooms with windows enable better air-flow and ventilation; however they are often glazed with translucent glass for privacy.

Skylights, essentially windows in your ceiling, can be a huge source of light, but might also be sources of leaks. Ensure that the skylights are properly installed, with flashing around them, and that the glass is of high quality. Cracked skylights should be replaced. If a skylight opens to permit airflow, ensure that it opens and closes well, and consider how the UV light and heat of the sun might affect the room at different times of the day. Low-E coating, an ultra-thin, metallic coating that is applied to windows at the factory, can help reflect heat into the home in the winter and keep out heat and UV rays in the summer. Special shades for skylights could also be installed.

While looking at the windows, don't forget to examine the state of any screens. Windows that open in climates that are prone to bugs should have tightly fitting screens that are not full of holes. Doors that open to decks might have screens, and some may be fitted with glass to convert to "storm doors" in the cold and rainy seasons. If ground floor windows need to be secured with bars or other security measures, understand how they function and the condition of this feature. Similarly, if the home is in an area prone to hurricanes, consider storm shutters, or the potential benefit of installing safety measures of this nature.

Windows may be replaced individually, or throughout the home. While doing the whole home might provide better value, it is a big, expensive process and can be very disruptive. It is worth taking the time to do as much research as you can. Get estimates from reputable dealers and installers, and plan to accomplish the work during dry seasons when possible. Ensure that your installer is bonded and insured, and that they will be following the installation instructions for the windows that you buy. The finest windows, poorly installed, will still provide problems, so pay attention to details.

Additionally, windows should match the style of the home. Older homes with fine detailing throughout should have windows that make sense with the other materials and stylistic features in the home. Research window styles and look at comparable homes in your area to see what other homeowners have done. Outfitting a home with the wrong windows can be as big a mistake as hiring a poor installer.

When considering windows, view the home at a variety of times of day and take notes. Understanding window coverings, shades, blinds and drapery or curtains will aid you in deciding if those big windows in the living room require special treatment. How will the sun fill the room, and will sunrise or sunset affect your rooms in ways that will work for your lifestyle.

Windows connect the inside of the home with the outside world, and so these assets help dwellers and visitors to truly connect to the home, the environment, the neighborhood and in some cases the city or area itself. When the outside environment is less desirable, the ability to control that view through shutters, shades, or other means will be essential. In urban environments privacy might be an issue. Places with views should have windows that make the most of those unique features, framing them like art.

Viewing the home from both the inside and out, at various times of the day, and noticing the windows close-up and from afar, their views to the inside and outside, will enable you do understand the home in a new way - shedding light on the home itself.

BUSINESS EFFICIENCY CENTER

How to Get Everything Done By Doing Less

BY VICTOR CHENG 

Image credit: Shutterstock

Most entrepreneurs subscribe to the philosophy: "If you want something done right, you have to do it yourself." This mantra, accepted by many small-business owners as fact, is only half true. If you want something done right once and you have no other time commitments, then the fastest way, in fact, is to do it yourself. However, if you want something done right repeatedly, day-in and day-out, all day long, and you don't have the time to do 10 full-time jobs all at once, you can't do it yourself.

To get everything your company needs done, you must transfer procedural knowledge, decision-making guidelines and a schedule from inside your head to your employees.

Here is how you do it:

1. Document the process. Every kind of work in a business follows a process. There's a process for the best way to answer the phone. There's a process for shipping products.

In most small businesses, the knowledge about how to do everything is stuck inside the entrepreneur's head. In situations where employees lack knowledge, the employees will either guess what is supposed to be done or constantly pepper you with questions that take longer to answer than just taking action yourself.

To solve this dilemma, document the step-by-step procedures for how to complete a commonly performed task in your business. There are three ways to do this:

1. Write a procedural manual describing how to perform a task.
2. Create a checklist describing the steps -- assuming your employees already have the skills to do each step but often forget or skip steps.
3. Make a video using your smartphone as you perform the task, explaining aloud what you are doing and why you are doing it.

The next time you assign an employee a particular task, just give her the manual, the checklist or video tutorial.

2. Document decision-making guidelines. In most small businesses, employees will ask you, "What do you want to do?" As an entrepreneur, you make decisions big and small all day long. To grow a business without driving yourself crazy, you can't delegate only the tasks to others. You have to delegate decisions to others as well. The key to getting others to make good decisions is to provide them with the implicit decision-making guidelines you personally use.

When an employee asks you, "What do you want to do about this situation?" without even realizing it, you run that decision through a set of decision-making criteria. If you want to extricate yourself from these decisions, write down the decision-making criteria you usually implicitly use and give the list to others.

For example, in my company, my staff uses three criteria to make any customer service-related decision that isn't already documented in our procedures:

1. Does the decision protect our reputation?
2. Does the decision favor the customer?
3. Does the decision cost less than $500 to implement?

If the answer is yes across the board, staff members can make a customer service decision for themselves without having to ask me first. If the decision will cost more than $500 but less than $1,000, they can still make the decision without me, but they are expected to notify me after the fact. If the cost is more than $1,000, they need to ask me first.

So far, they have made the same decision I would have made 98 percent of the time. Best of all, there have been virtually no meetings, phone calls or emails to discuss these decisions.

3. Create a schedule. To ensure the right things get done in the right way at the right time, you need to follow this final step: creating a schedule. Create a list of daily, weekly, monthly and quarterly tasks that need to be done for each role in your company. For more complex tasks, reference where staff can find the procedure manual, checklist or video tutorial that explains how to do the task.

Follow these three steps and tasks will be completed, decisions will get made and things will be done on-time with only minimal involvement from you.
 

5 Reasons Not to Rush Into Applying for a Mortgage

By Credit.com   | Posted Aug 8th 2013 10:16AM

6 Comments

Updated Aug 8th 2013 11:45AM

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By Scott Sheldon

You're doing everything right, paying your bills on time, earning a good living, and you're applying for a mortgage -- with second thoughts. Maybe you're trying to buy a new home, and something's just not right, perhaps the payment is too high. Whatever the case, paying attention to the signs means the difference between making a potential mistake worth thousands of dollars or choosing the path that makes better financial sense.

Upon applying for a mortgage loan, a lender conducts a thorough analysis of your credit history, credit score, income, employment status, job history, as well as your ability to make payments on your debt. You can rest assured, if the numbers don't make sense, and home affordability is problematic for you, it will absolutely be apparent to the lender as well. Here are the five times you should consider waiting to apply for a mortgage.

1. Your Debt Is Too High. If more than 10 percent of your monthly income goes to liability payments (car loans, credit cards, other debts), not only will these liabilities hurt your ability to qualify, they limit how much house you qualify for. Remember, liabilities (debt) erode borrowing power to a ratio of 2:1. In other words, a minimum payment on a credit card at $100 per month needs $200 per month in income to offset that liability payment. You should also consider how much more manageable that mortgage payment would be without those liability payments. It may make more sense to pay off those limiting debts for a future benefit.

2. Your Income Is Too Low. Perhaps your debt payments are too high, and your income needs to be higher to compensate for that -- or you need to simply pay off your debt -- in order to qualify. Maybe your income is just not high enough to support a house payment for the price range you desire. This differs in many markets, but generally speaking, you need to have enough income to support a house payment of at least $1,500 per month when buying a home. How much income are we talking about? At a minimum, just shy of $40,000 per year or 55 percent of a $1,500 mortgage payment.

3. You Don't Have a Down Payment and Closing Costs. You'll need at least 3.5 percent of the purchase price for a down payment. This can be your money or it can be gifted money. On a $300,000 house, for example, that's $10,500 down. Gone are the days of attaining seller credits for closing costs. Typical closing costs are approximately 3 percent of the purchase price, so that same house for $300,000 translates to an additional $9,000 in closing costs, for a grand total of $19,500 to make the purchase.

4. Your Employment Is Not Stable. Possible change of careers? How about a job gap? These situations not only can hurt your potential ability to qualify for the loan, but it raises the question of whether or not you can support a house payment. This includes changing job status, for example going from being a W2-wager to self-employed and vice-versa, as lenders will look at the income you can show on paper. Whatever the situation, if you're in a transitional state with your employer, and your income is potentially in question, buying a house can be a recipe for disaster.

5. Your Credit Is Less Than Stellar. Do you have derogatory items on your credit, like a bankruptcy or short sale, or even a foreclosure? It's an automatic 2- to 3-year wait to re-enter the market. This is a prime opportunity to save for a down payment and closing costs, and to clean up your credit history to prepare to purchase a home later on. You can pull your credit report for free once annually from each of the three major credit reporting agencies at AnnualCreditReport.comor you can monitor your credit on a monthly basis using the free Credit Report Card. Remember, while you might still qualify for the mortgage now, that does not necessarily mean you should accept the obligation. The long-term prospectus of what that obligation means over time is paramount. Consider the effects the new mortgage payment will have on long-term savings ability, household cash flow and lifestyle. The last thing anyone wants is to be tied to a mortgage payment that they can't adequately support.