Homes For Sale Charlottesville VA

Wednesday, October 5, 2016

12 Easy Steps to Prepare Your Home For Fall

The days are getting shorter, and the nights are getting cooler. The kids are trudging off to school again with their backpacks and light jackets, and leaves are starting to fall from the trees.

Yep, it's official: Fall is here. Now is the time to finish up any last-minute late-summer maintenance projects, and get your home and yard ready for fall.

Just follow our easy checklist, and your home will soon be clean, warm, and ready for the cool days to come.

Exterior prep

Fix cracks in concrete and asphalt. Depending on where you live, these may be the last weeks this year when it will be warm and sunny enough to repair driveway and sidewalk cracks.
Clean out the gutters. No one loves this job, but we all need to do it annually. A few hours of work can prevent big problems later on. And while you're up on that ladder, visually inspect your roof for damaged shingles, flashing, or vents. You can also inspect the chimney for any missing mortar, and consider tuck-pointing if needed.
Turn off outdoor plumbing. Drain outdoor faucets and sprinkler systems, and cover them to protect them from freezing weather to come.
Start composting. If you don't already have compost bins, now is the time to make or get some. All those accumulated autumn leaves will bring you gardening gold next summer!
Clean outdoor furniture and gardening tools. It may not be quite time yet to put them away, but go ahead and make sure your outdoor furniture and gardening tools are cleaned up and ready for storage over the winter.
Plant bulbs for spring-blooming flowers. A joyous and beautiful sign of spring is when tulips and daffodils start popping up everywhere. Plant bulbs in October, as soon as the soil has cooled down, to reap big rewards next spring. If you’ve never planted bulbs before, select a spot in your yard that gets full sun during the day.

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Interior prep

Prepare your furnace for winter duty. If you didn't already do it last spring, consider getting your furnace professionally serviced in time for the cold season. At the minimum, though, visually inspect your furnace and replace the furnace filter before turning it on for the first time.
Clean the fireplace and chimney. Clean out the fireplace, make sure the flue is operating properly, and that doors and shields are sound. Have the chimney professionally swept if needed. Now is the time to stock up on firewood!
Keep the warm air inside and the cold air outside. Inspect your windows and doors. Check weather stripping by opening a door, placing a piece of paper in the entryway, and closing the door. The paper should not be able to slide back and forth easily. If it does, the weather stripping isn't doing its job. Also, now is the time to re-caulk around windows and door casings if needed.
Light the way. Bring as much light into your home as you can for the colder, darker months. To accentuate natural light, clean your windows and blinds, especially in rooms that get a lot of sunlight. Add lighting to darker spaces easily with new lamps. And consider replacing traditional incandescent light bulbs with energy-efficient bulbs.
Create a mudroom. Even if you don't have a dedicated mudroom in your home, now is a good time to think about organizing and stocking an entryway that will serve as a "mudroom" area for cold and wet weather. Put down an indoor/outdoor rug to protect the floor. A fun and rewarding weekend project is to build a wooden shoe rack, coat rack, or a storage bench for your entryway.
Home safety check. Replace the batteries in your smoke alarms and CO₂ monitors. A good way to remember to do this is to always replace the batteries when you change the clock for "fall back." Create a family fire escape plan, or review the one you already have. Put together an emergency preparedness kit so that you are ready for winter power outages.

Once you finish with your autumn home checklist, you will be ready to relax in your warm, comfortable home, and enjoy the season.

Related:

from Zillow Porchlight http://www.zillow.com/blog/12-steps-prepare-home-for-fall-204676/
via Reveeo

Tuesday, October 4, 2016

Pick a President! Voter Registration Closes Soon

Make sure your voice is heard in this election!

In some states, voter registration closes in the next few days. Find out the deadline by plugging in your home address at Vote411.org. You also can register to vote there, and see which contests will appear on your ballot.

If you want to just get on with registering, check out RockTheVote.org.

from Zillow Porchlight http://www.zillow.com/blog/register-to-vote-205911/
via Reveeo

How Renting Out Your Vacation Home Can Land You in Hot Water

You've always dreamed of buying that ski cabin or lake house, and you plan to afford it by renting it out when you're not using it. Good plan, but lender rules don't allow it. Here's what you need to know.

Loan types and their rules

The first step in financing your dream getaway home is to understand the different mortgages available for the three different ways a home can be used:

Primary residence loans. These loans are the most favorable. You can buy for as little as three percent down, and you'll get the lowest possible mortgage rates. These loans require you to move into the home within 60 days of closing the loan, and live in the home for at least one year - after that, you're free to rent out the home.
Second home loans. These loans have the same rates as primary residences, so your rate will be the lowest it can be, but down payments must be larger: Most lenders require 20 percent down. You qualify for the loan using your full primary residence housing cost plus your full second home cost. You can use the home for family and friends, but lenders won't let you rent the home.
Non-owner occupied loans. Also called rental property loans, these loans offer rates .25 percent to .375 percent higher than primary residence or second home rates, and down payment requirements typically start at 30 percent. Your lender will let you know if you can use the rental income to qualify. These loans allow you to rent the home, and use the home when it's not rented.

Beware second home loans

The best thing about a second home mortgage is that the rates are the same as a primary residence mortgage. The worst thing is that you can't rent the home.

This is an often-overlooked provision of second home loans, but it's the most important, because if you ever rent your vacation getaway, you will violate the terms of the loan.

When you get a loan, there is a document called the Note, which spells out loan amount, rate, payments, and fixed versus adjustable periods of your loan. Depending on what state you live in, you'll also have either a mortgage or deed of trust in addition to your note, which spells out additional loan requirements you must comply with. (See which states use mortgages vs. deeds of trust.)

At first glance, a second home mortgage or deed of trust seems like it has the same requirements as a primary residence. Provision 6 says you must move in within 60 days and live there for at least one year - then you're free to rent it out. Here's a sample:

secondhomeoccupancy However, there's an addendum - called a rider - in mortgages and deeds of trust that replaces this friendly requirement with a new, much more strict requirement saying you can't rent out the home. Here's a sample:

secondhomeoccupancyaddendum

This language, though hidden deep in the loan documents you'll sign before closing, makes two critical points:

You can't rent the home.
If you applied for a second home loan and rent out the home, your entire loan balance could be called due and payable by your lender.

Choosing a loan

So if you plan to afford a home away from home by renting it out when you're not using it, you cannot finance it with a second home loan.

Most people start with this premise because it's tempting to save on down payment or rate. But you will need to review non-owner-occupied loan options with your lender to meet the objective of using and renting a home that's not your primary residence.

As noted above, this means you'll need to put down a larger down payment and your rate will be slightly higher. But it's a small price to pay for the flexibility of earning income off of a home that you also use for your own enjoyment.

Related:

Note: The views and opinions expressed in this article are those of the author and do not necessarily reflect the opinion or position of Zillow.

from Zillow Porchlight http://www.zillow.com/blog/renting-out-your-vacation-home-204821/
via Reveeo

Monday, October 3, 2016

Cotswold-Style Home with Hollywood History for Sale

The charm of Cotswold, England is available in coastal California for $3.89 million. This elegant 4 bedroom, 4 bathroom home in Pacific Palisades - a small coastal city north of Santa Monica - comes with just over 2,300 square feet of living space and a little bit of Hollywood history.

The home originally belonged to actress Ann Guilbert, best known for her roles on "The Nanny" and "The Dick Van Dyke Show," and her husband Guy Raymond, a dancer and actor. Guilbert's daughters Nora Eckstein, acting coach to celebrities such as Jake Gyllenhaal, and Hallie Withrow, an actress most famous for her role on Disney Channel's "Lizzie McGuire," now own the home.

The home has beautiful curb appeal and looks as though it's straight out of the pages of a fairy tale, with wooden shutters adorning the lattice window panes, brick walkway, and a roof with composite shingles. The English elegance continues on the inside with a spacious living area complete with hearths, cozy built-ins, wood floors and large hexagon tiling in natural, earthy tones.

The kitchen is spacious and bright, with white cabinets, stainless steel appliances and a window over the sink that has breathtaking views and lets in a lot of natural light. The open concept dining area has views to the back patio through large sliding glass doors.

The bedrooms of this Cotswold-style home are classic, containing interesting architectural details such as irregularly-shaped walls that create intimate little nooks as well as plenty of windows - complete with the same lattice panes as the living area. The home also has a sitting room upstairs and space for an office or additional guest rooms.

The home's backyard embraces a traditional California style, with a large deck that overlooks the lower Temescal Canyon and plenty of space for a garden and entertaining.

The listing agents are Sara Clephane and Mike Deasy of Deasy, Penner & Partners.

Related:

from Zillow Porchlight http://www.zillow.com/blog/cotswold-home-hollywood-history-205820/
via Reveeo

You Live in a Hot Market ... Should You Buy or Sell?

The real estate market is full of ups and downs. So when the market in your area is at the boiling point, should you strike while the iron is hot to buy or sell?

When you're thinking about testing the waters with either a home purchase or sale, there’s a lot to consider before you make a decision.

Get expert advice before you make a jump into or out of a market. Here are some tips to get you started.

Determine just how hot your market is

Unless you actively seek out financial news, it may be difficult for many homeowners and potential buyers to know whether or not their market is at its peak.

"When you're in a frothy market, you'll typically see double-digit increases in values from one year to the next,” says Bridget Burgess, a client adviser at Seattle-based Laird Norton Wealth Management. “Once you're seeing that, people walk away with a sense of urgency.”

Once buyers and sellers determine that their market is doing well, they often feel the need to act quickly. However, when it comes to real estate, it's not always best to make a move just because a market is showing healthy signs.

Consider the long term

Real estate, more than any other type of investment, is emotionally charged. Though some buyers may purchase real estate with emotional detachment, most of us are thinking about a place to call home.

A red-hot real estate market can trick us into thinking that we need to only think about the bottom line.

"A frothy market might distract you from where the real estate might fit in your overall picture,” explains Kristi Mathisen, managing director of tax planning at Laird Norton Wealth Management. “Instead of selling, there could be a possibility of moving a home to be a rental home or giving your home to your children. A frothy market encourages people to focus on one transaction. Don't let the market drive you into a decision."

Just because there’s an opportunity to sell doesn't necessarily mean that it's the right move for you. When you are thinking about selling, be sure to analyze where you are in your life.

Are your kids young, or have you been an empty nester for years? Are you close to retirement, and are you considering moving out of town? These are the types of questions to ask yourself before you make a move.

When you're a buyer, a peak market can be a little bit riskier. Ask yourself if you're comfortable with being upside down on a home if the market potentially collapses. Determine whether it makes more sense financially to rent or buy. Online calculators can help you figure out the best option.

What worked before doesn’t work today

The landscape of homeownership is completely different today than it was even a couple of decades ago. Wages have been stagnant for some time, and it's not as easy to "grow into your mortgage" as it used to be.

Low mortgage rates also make it difficult for a buyer to refinance in the future.

"In the old days - when mortgage rates were five, seven, or nine percent - the usual advice was this: 'Buy the biggest house you can finance. Try to get the worst house in the best neighborhood and fix it up,'" Mathisen says. "The idea was to stretch to buy now and refinance later to lower your payment. This advice is now questionable because mortgage rates are already at historically low levels (about 3.5 percent for 30 years; 2.8 percent for 15), so it’s unlikely refinancing can ever save a current buyer money."

Take your time

The important thing to remember is that it's smart to take your time to think about real estate decisions. After all, home sales and purchases cannot be undone quickly or easily - if at all.

It's also crucial to make sure that your mortgage is not the only investment that you have, and to diversify, advises Burgess.

When you take the time to carefully calculate the costs, benefits, and purpose of the property you want to sell or invest in, you’re much more likely to arrive at a decision that will be the best for you and your family.

Related:

from Zillow Porchlight http://www.zillow.com/blog/buy-sell-in-a-hot-market-204577/
via Reveeo

Saturday, October 1, 2016

10 Questions to Ask Before Choosing a Tiny Home

Are you ready to go “small”? Tiny homes are popping up across the country as many look to save money, reduce their carbon footprint or see what it’s like to live with less.

But buying or building a tiny home is easier said than done. There’s a lot to consider - from the actual construction to the lifestyle - and it’s not for everyone.

See if you could live in less than 500 square feet by asking yourself these questions.

Tiny Home Checklist graphic - UPDATED

Will you be sharing your small space? Find out how three real-life couples handle living tiny together:

Don't miss out on the next Zillow video! Subscribe today to see the latest.

Originally published May 14, 2015.

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from Zillow Porchlight http://www.zillow.com/blog/tiny-home-checklist-176055/
via Reveeo