Friday, May 17, 2019

Should I Choose a 15 year or 30 year Mortgage?

When you meet with a loan representative to secure financing after you've made a home purchase one of the questions you'll be asked is if you would like a 15 year term or a 30 year term. Time to make that decision.

At this point you need to consider your options. A 15 year term will likely give you a higher payment over a shorter time period, but a 30 year term will give you a lower payment with a longer time to pay it off.

Several things to consider are your job stability and your financial situation. Would you like to put more money into savings or a retirement or education account each month? The lower payment with a 30 year loan plus the tax deductions may make this a better choice.

If your job is stable and you don't see any changes in your future, this might be a good option and you will be paying less interest overall.

One other option if you want the lower payment but would still like to pay off your mortgage early, is to make biweekly payments rather than monthly payments. This alone will shave years off of your mortgage.

The bottom line, which is best for your budget and peace of mind?

Friday, March 29, 2019

Should You Remodel?

Spring is here and maybe you're thinking about remodeling. Remodeling magazine notes that nine out of ten high return projects are high curb appeal projects. The first on the list is garage door replacement with a 97.5% return on the value at resale. The second project on the list is replacement of vinyl siding with manufactured stone veneer and this returns 94.9% of it value at resale. 

Several of the other project that you might consider might be these projects:

  • Replacement of existing siding with new siding: 75.6 percent
  • Steel entry door replacement: 74.9 percent
  • Vinyl window replacement: 73.4 percent
  • Fiberglass grand entrance: 71.9 percent
  • Wood window replacement: 70.8 percent
  • Composite deck addition: 69.1 percent
Remodeling costs are rising but you can sometimes cut some of the costs by  shopping at places like the ReStore where they sell gently used building materials and appliance at a fraction of their retail prices.  

Tuesday, March 19, 2019

Spring Checklist

One of the important items on your spring checklist should be checking the batteries in your smoke detectors and your CO Detectors. This small but significant step can save lives! In addition, did you know that all fire alarms/detectors should be replaced every 10 years?

Thursday, February 28, 2019

Daylight Saving Time

Washington State is trying to join the states of Arizona and Hawaii and no longer observe daylight saving time. For many years, there have been other bills proposing the permanent switch to permanent standard time like we use in winter. If the law passes this time, it will go into effect on the first Sunday in November following the effective date of federal authorization. If congress does not authorize the revision, legislators are proposing that the state seek approval to change Washington to year around Mountain Standard time which would have the same effect.

Apparently studies show that about 400 lives are saved due to more light in the late afternoon hours when more people are up and out.

It is estimated that there would be 20% less crime because the preferred working hours for criminals would be reduced due an hour less of darkness.

It would improve the well being by avoiding disruption in schedules.

Opponents say they don't like the idea of children standing in the dark waiting for buses as the sun would rise at 9 am rather than 8 am.

If you count out the months however, we do spend 8 months of the year in daylight saving time and only 4 months in regular time.

 The federal Uniform Time Act followed in 1966, instituting a nationwide daylight saving time, but allowing states to opt out as long as the entire state (or the entire part of a state that’s in a given time zone) does so. That exemption allowance is what could let Washington and other West Coast states make this change.

What do you think, would you like to eliminate daylight saving time?

Thursday, January 31, 2019

Remodeling or updating your home in 2019?

Curb appeal continues to be the highest return on investment in the 2019 real estate market. Curb appeal and first impression are central to the real estate professional's estimation of resale value. A home's exterior will either encourage or discourage a potential buyer to look at your home. These impressions will set the stage for what a buyer is willing to pay for in your home.

The top five projects in 2019 according to Remodeling Magazine are:

1. Garage Door Replacement
2. Manufactured Stone Veneer
3. Mid-range Minor Kitchen Remodel
4. Wood Deck Addition
5. Siding Replacement

If your're interested in more information you can use this link Cost VS Value