4 Steps to Winterize Your Home

It may be tempting to ignore yearly tasks that prepare your home for winter, but inaction can be costly. Keeping your home in good repair not only prevents larger problems, but it can also avoid complications should you need to file an insurance claim down the line.

Here are four tasks you should tackle to get your home in peak winter condition:

Clean Gutters -- Remove leaves, pine needles and other debris from gutters to ensure late fall rains and winter precipitation can run freely. Make sure water drains properly into downspouts during your cleaning, and check that gutter attachments are securely in place.

Inspect the Roof -- Checking your roof doesn't require that you scale a wobbly ladder. You can get along just fine from the ground with a set of binoculars. Look for shingles that are lifting, cracked or showing signs that the protective granules have worn away. If you have attic access, look for pinholes of light or signs of water damage along the roofline.

Shut Off Outdoor Spigots -- Save yourself the headache of a burst pipe by disconnecting, draining and storing garden hoses for the winter. If your outdoor spigot has a shut-off valve, close the valve and drain the faucet. You can also wrap protective insulation around the spigot for the off-season.

Patch Windows and Doors -- Check around doors and window sashes; replace any weather stripping that has become loose or cracked. Wave a lit match or incense stick around window and door frames, and caulk areas where the smoke wavers, which indicates an air leak.

Tending to these tasks now may feel like a bother, but it will keep you from laboring out in the cold if overlooked winter maintenance comes back to haunt you. If you need recommendations for vendors to help with any of these tasks, please let me know!

TRID changes

All of my new buyers will receive a copy of this flyer in their Buyer packet (compliments of the wonderful Moore Team at Shelter Lending), but I thought it was worth sharing this very helpful information about the upcoming TRID changes and how it will impact the purchasing process.  

Perhaps the piece we are all the most worried about are the new timing requirements, which have the potential to delay closings (a major problem if there are back-to-back closings involved!). The biggest change is that the loan can’t close until the Lender has sent the Borrower the final Closing Disclosure (CD), confirmed the Borrower has received the CD, AND then waited for the 3-day waiting period to pass.

Example: If closing is on a Friday, the Buyer’s “confirmation of receipt” must be received by 11:59pm on the prior Tuesday. If the CD changes, the 3-day clock may have to be restarted. This will cause many closings to be delayed.

Due to these increased timelines, my lenders are recommending an appraisal contingency of 25 days, financing contingency of 35 days, and closing at least 45 days out.

Key action items for the Buyer are:

• Submit a pre-approval application before making an offer to minimize mortgage processing delays
• Give the Sales Contract to the lender as soon as it is available
• Use e-mail to electronically sign the loan disclosures, including the LE, to expedite the process
• Give the Lender your “Intent to Proceed” as soon as possible after receiving the LE
• Pull together and deliver your requested loan docs to the lender during the first week of the process
• Confirm receipt of the CD immediately after receiving it to start the clock ticking on the 3-day waiting period

For more information about how these changes might affect your home purchase, please call or email me today!

Big lending changes coming

The new TRID changes are set to go live October 3rd and we are anticipating potential issues industry-wide due to the new requirements and 3-day waiting period if there are any changes to the settlement statement prior to closing. It is even more important to make sure you are working with an experienced lender who understands these new changes and how to work within the parameter.  Below is an excerpt from Realtor.com regarding the upcoming changes. You can read the full article here. 

Mortgage lenders and real-estate agents are bracing for the Oct. 3 implementation of a five-year-old law that has forced them to overhaul the way they process sales.

The changes, prompted by the 2010 Dodd-Frank financial law, are meant to help consumers better understand the terms of their mortgages before they sign the dotted line.

But some in the real-estate industry worry that the rest of the year could be marked by delayed closings, frustrated borrowers and confused real-estate professionals as they adjust to the new rules.

At heart, the changes simplify forms long required by the federal government that disclose loan terms, such as a mortgage’s interest rate and prepayment penalties. The rules also require that consumers see the final terms at least three business days before closing, a change meant to ensure they have time to understand what they’re agreeing to.

The reform is meant to prevent what occurred during the housing boom, when some borrowers agreed to loan terms they later found they didn’t understand, such as low initial interest rates known as teasers, loan balances that could increase over time and balloon payments due after a certain number of years.

All-Stars!

So proud of my amazing broker and fellow RE/MAX Around Atlanta agents who were chosen as winners in the 2015 Agent's Choice Awards from Atlanta Agent Magazine! We had 5 of our team chosen, including Managing Broker of the Year, Industry MVP, Charitable Services, and Rookie of the Year.  This is a great example of why I chose to join this office and I am so proud to be part of this amazing team!

Half bath or full bath?

If you are thinking of renovating or adding on, but don't have a ton of space, consider this:  Data shows that an extra half-bath can boost a home's price as much or more as another full bath.  A half bath can be added in as little space a 2' x 4', while a full bath needs quite a bit more room, so these findings can be significant!

The median price for single-family homes with one bathroom was $85 a square foot, according to a survey of listings on realtor.com in late July. With an extra full bathroom, the price climbed 15%, to $107 a square foot, while an extra half-bathroom added 10%, or $93 a square foot. 

Read the full article here