Archives for December 2022

Mortgage In 2023

December 29, 2022 by chorton Leave a Comment

Home shoppers are being tested this year due to record-high home prices, rising inflation, and high mortgage rates. Many homebuyers looking for an affordable mortgage have been left in more uncertainty going into 2023.

First-time homebuyers are particularly affected by skyrocketing mortgage rates and home prices. This has resulted in a decrease in their buying power and down payment.

If you want to secure the best mortgage, even though the housing market is slowly improving, you should be keeping an eye on the market and any economic moves by the government.

The Federal Reserve aggressively increased its benchmark federal funds rates in an effort to reduce rising inflation. This was done throughout 2022. Although rate hikes by the Fed do not directly affect mortgage rates, they have an impact on the bond market which in turn has an impact on mortgage rates.

The Federal Reserve will not stop raising the fed funds rate aggressively until it believes runaway inflation is under control. This will drive mortgage rates higher.

Economic consensus seems to be that the economy will see strong signs that inflation is slowing down in the first half of next year. All indicators point to more upward pressure on mortgage rates in the future than a decrease in 2023.

Many shoppers have stopped buying in the market because of record mortgage rates and the uncertainty surrounding the housing market.

Will 2023 be a better time to get a mortgage?

Many housing experts believe that we will see a greater decrease in home prices month-over-month next year.

Now, we expect home prices to decline year-over-year in 2023. The national median single-family home value is expected to drop 5.5% over the course of the year.

However, the supply shortfall and strong underlying demand will eventually limit home price appreciation.

The home depreciation rate will not be the same in all markets. There will be regional variations. Markets that were once popular with buyers will see extreme swings to their disadvantage compared to those in less-populated areas.

Remember that home appreciation has risen in an abnormally high rate over the past few years. Comparing to the second quarter 2020, the average home sale price rose 45% to $542,000.

Some experts predict that the best case scenario for a 30-year fixed mortgage rate will be around 5.5% by 2023. Other experts expect rates to remain in the 6.5% to 7.5% range throughout the year. Freddie Mac recently forecasted 6.4%.

Original Blog: https://www.forbes.com/advisor/mortgages/how-to-get-best-mortgage-in-2023/?&utm_source=ra&utm_medium=referral

Protect Your Pets From Cold Weather

December 26, 2022 by chorton Leave a Comment

Pets’ tolerance to cold can differ from one pet to another, just like humans. This is due to their coat, body fat, activity level, and overall health.

If your pet has health problems, take them on shorter walks in colder temperatures.

Protective vests or sweaters for pets with short hair are a great idea. Booties are available to protect your pet’s feet.

After a walk, check your pet’s feet for any cracks or bleeding. If your pet has ice buildup, clean it out.

Once you return home, wipe your pet’s feet, legs, and belly with antifreeze.

Keep your pet indoors for longer periods, especially in extreme weather. The best place for your pet is indoors.

If your pet starts to whine, shiver, is anxious, slows down, stops moving, becomes weak or looks for warm places, you should get them back inside immediately.

And remember: No pet should be kept outside for long periods of time – especially in extreme temperatures. Indoors is the safest place.

Original Blog: https://www.safetyandhealthmagazine.com/articles/22132-protect-your-pets-against-cold-weather

Things You Can Do To Help Winterize Your Vacant Home

December 22, 2022 by chorton Leave a Comment

There are several things you can do to winterize your home if you’re a snowbird heading south for winter. You can protect your home against theft and water damage while you’re away.

Winterization is the preparation of a property for winter. These preventative measures should be taken in the fall to avoid winter weather. Preventing damage from bursting pipes or other property and home issues can help you avoid them.

Protect Your Home from Appearing Empty:

Forward your mail and stop newspaper delivery. Ask a friend to come pick up any items left at your house.
Arrange to have snow removed after storms.
To discourage prowlers, set timers for motion-sensitive interior and exterior lights. They will come on at different times.

Protect your home from thieves by taking steps:

Verify that alarm systems have been activated and are in good working order.
Security-type hinges and deadbolt locks can be used to secure external doors and windows. Slide locks, or equivalent security locks, can be installed on sliding glass doors.
You can store valuables you don’t want with you in a safe box or another secure location.
Avoid sharing your travel plans or vacation photos on social media. Then potential thieves could use this information to find out when your house is vacant.

You can help prevent water damage by turning off your water supply:

It could be very dangerous if a pipe bursts, or leaks while you’re away. If you are going to be away for a long time, it is worth completely shutting off the water supply. Your heating professional can help you determine whether it is safe to shut off your water supply if your home is heated with an older steam heating system. If your home is protected from a fire sprinkler system you should not shut off the water supply.
After you have shut off your water supply, drain the pipes and open the faucets to drain the water. Flush your toilet to remove any remaining water from the tank or bowl. To prevent water from freezing, you can pour antifreeze into the bowls and tanks of your toilets.
To complete these steps, you may want to hire a licensed plumber. A plumber can confirm that the pipes are fully drain by blowing compressed air through them.

Keep your home and plumbing warm:

You can keep your pipes warm by running the furnace if you don’t want to drain them.
To keep the interior of your floor and walls, which are likely to contain the water pipes, above freezing, set the temperature at 55 degrees F or higher. The ability to keep cabinet doors and rooms open can help heat circulate and warm pipes.
To avoid water leaks and broken hoses, turn off washing machines and dishwashers when you’re not using them.
If your boiler is not connected to the heat source, turn off the water supply and heat supply to hot water heaters.
To prevent freezing water damage, shut off outdoor faucets and drain them.
Install a low temperature and water flow sensor on your main water supply line. This sensor can be connected to your alarm system or smart phone.
Wrap water piping with UL-Listed heat tap and insulate if it is exposed to unheated areas like garages, crawl spaces, or attics. Use only thermostatically-controlled heat tape if your water piping is plastic and follow the manufacturer’s installation instructions.

Do routine winter maintenance before you leave:

Heating system maintenance
Preventive maintenance is a good idea before you heat your home this winter. This will help prolong the life of your heating system and detect potential problems.
Before the cold weather hits, have your heating system checked and serviced by licensed professionals. Before you leave, make sure to fill your fuel tanks and set up periodic fuel deliveries if necessary. While you’re gone, have someone monitor your fuel and heat levels.
Keep the electrical supply on if you need it to run your heating system. A licensed electrician can inspect the main electrical panel, wiring, and outlets of your home to ensure that electrical service is not interrupted while you are away. Replace or repair any defect.
A licensed contractor should inspect and service your boiler or furnace at least once per year, preferably before heating season starts.
For forced hot air systems, clean or replace the furnace filter.
At least once per year, have your chimney inspected and serviced annually by a licensed contractor. Make sure to have creosote buildup from chimneys that serve woodstoves or fireplaces removed.
Keep your fuel tanks topped up and watch for low levels during winter.
Your heat should not be lower than 55 degrees because the temperature in the walls where the water pipes are located is cooler than the living areas. To maintain an even temperature, open doors to unoccupied rooms and keep the temperature at the same level throughout the house.
Follow the manufacturer’s recommendations for maintaining your pellet or wood-burning stoves.

Insulation maintenance:

Are you sure your insulation is ready to protect you against the cold? It is important to inspect your insulation as it provides protection against winter’s cold winds and freezing temperatures. Do not forget to have your insulation and weather stripping updated before the cold season begins.
Insulate the attic with additional insulation to prevent ice damming. Heat can heat the roof if it escapes too much. It can also cause ice dams that can lead to water damage and roof collapse.
Weather stripping can be added around doors and windows to protect against heat loss and drafts.
If necessary, remove screens from windows and replace them with storm windows.

Winter Safety Measures:

These are additional safety precautions that you can take to prepare for winter.
Remove dead branches and trim trees so that they don’t damage your home or injure anyone if they fall due to ice, snow, or wind.
To ensure melting snow drains properly, keep gutters clean of leaves, sticks, and other debris. Make sure that the downspouts drain water away from your foundation.
To make them more safe in the snow and ice, repair steps and handrails.
To ensure that they work properly, check smoke detectors, fire alarms, and carbon monoxide detectors.
Before you leave, unplug any unnecessary appliances such as your microwave and stove.

Equipment and Supplies Key:

You might be more prepared for the first snowstorm of the year than you realize. Make sure to stock up on key equipment such as snow blowers or generators before they are needed.
You should always have snow shovels, a roof rake and snow plows on hand. Make sure you have ice melting compound on hand to melt the ice on walkways.
Get your snow blower or generator serviced.
Fuel for snow blowers or generators should be kept in approved safety containers. Keep away from flame-producing devices and heat. Fuel should not be stored in the basement.

Reduce the attraction of pests to your home:

To discourage potential new residents from moving in, make sure you clean your house thoroughly.
To prevent mildew, clean, defrost, and unplug fridges and freezers. Wipe them dry, and leave doors propped open. Clean the oven.
Check your home for any openings that could be used by animals to get in. You should also make sure that your fireplace flue is sealed, as squirrels, birds, and bats can get in through this opening.
To ensure that there are no serious deficiencies, check weather stripping, insulation, and exterior doors and Windows. These openings can be accessed by water and insects.
A chimney service should inspect your chimneys and clean them if needed. To prevent infestation, install chimney guard screen-caps.

Prepare for Emergencies:

Notify the police about the vacant property and give emergency numbers.
Smoke detectors should be installed on every floor. They should be connected to a continuously monitored fire alarm system, so that emergency personnel can be notified immediately.
Storm shutters can be installed in coastal or higher wind-exposed areas to secure windows. You may also consider other mitigation measures such as marine plywood 5/8 inch.
You can ask a friend, relative or neighbor to watch your home and be there in an emergency. Allow them to inspect your home and monitor the electrical, water, and heating systems.
When it is cold, ask them to inspect the roof’s edge for ice dams. Also look for any leaks. If repairs or service are needed, make sure they have your contact information.

Get the insurance coverage you need. Protect your home while you are away from it, no matter how long or short. To ensure you are covered for any unexpected events while you’re away, contact your Travelers agent or independent agent.

Original Blog: https://www.travelers.com/resources/home/safety/snowbirds-winterize-your-vacant-home

Gardeners Can Use The Cold Winter Months To Plan Their Spring And Summer Gardens

December 20, 2022 by chorton Leave a Comment

Even though the winter landscape is bleak, it’s the right time to start planning your gardening for the coming growing season.

It doesn’t matter if you are a beginner or have just moved in to a new house and need to start the landscaping process.

Gardening success starts with making sure the garden beds are placed in sunny areas and have well-drained soil. Place the beds as far away as possible from trees and shrubs that could compete for light, water, and nutrients.

These conditions are great, but many homeowners have less than ideal locations to plant their vegetable garden. With proper crop selection, you can still grow successful vegetables. Consider raised beds, container gardening if the site is not draining well.

Every three to four years, it is important to test the soil. Gardeners can get an analysis of nutrients in soil by performing a soil test. Routine soil tests will give gardeners information about the soil’s levels of nitrogen, potassium, and phosphorus. It is crucial to have this information before you plant, in order to ensure that your plants receive the correct nutrients.

While we tend to think about gardening only in spring and summer, winter is a great time for gardening.

Some other helpful tips for gardeners include:

Follow the directions on fertilizer labels.
Add organic materials like yard waste to improve soil.
Use the plants that are suitable for your area of growth.
Mulch can be used to control weeds and conserve moisture.
To avoid potential problems, make sure to check your garden often.
Only use pest control measures on known pests.

Mistakes to avoid:

Too close planting can make it difficult to walk or work in the garden, and can cause problems with normal plant development.
Apply fertilizer directly to plant roots, stems, or seeds.
Don’t water too often or excessively, so that the soil doesn’t dry out.
Before pulling weeds, allow them to grow larger.
Root injury can be caused by deep cultivation.
Use chemicals that are not recommended for use in garden crops.
Avoid planting varieties that are not suitable for your area.
To avoid disease and insect buildup, rotate crop families each year.

Original Blog: https://extension.okstate.edu/articles/2022/garden-planning.html

Kitchen Flooring Options, Find The Best Kitchen Flooring For You.

December 16, 2022 by chorton Leave a Comment

There are many factors that go into choosing the right kitchen floor. How often do you cook? Are you more comfortable with an open floor plan or a closed-off one? Which is the most durable?

Hardwood flooring is an excellent choice for those who want timeless appeal and unmatched warmth. Hardwood flooring will give you a great return on your investment, should you ever decide to sell your house. Another benefit: Hardwood works well in living and kitchen areas, creating a warm, cohesive look.

There are two options for hardwood flooring: engineered or solid wood planks. Engineered wood is made up of a veneer of wood, backed with layers of plywood. This flooring is a better choice for kitchens, as it provides dimensional stability. This protects the flooring against movement due to temperature and humidity changes, which can be a problem in kitchens.

Sheet vinyl, also known as resilient flooring, is the most popular type of flooring. This cushiness is great for those who cook often. It also makes it more comfortable on the feet and reduces muscle fatigue. Sheet vinyl is also more flexible if you or a loved one are prone to dropping things. There will be less damage. Sheet vinyl flooring can be cleaned quickly and easily. It is completely waterproof and stain-proof.

However, this choice comes with its own set of disadvantages. You may find seams depending on the layout and size of your kitchen. Vinyl flooring is 12 feet wide. You will have seams if your kitchen is larger than 12 feet. They can leak moisture into the subfloor, trapping dirt and causing them to not be bonded properly.
Sheet vinyl is easy to clean. Sheet vinyl is easy to maintain. You might prefer a cushioned vinyl flooring with foam backing. The extra cushioning can make it difficult to keep seams bonded for long periods of time. You could also end up with trapped dirt and moisture if your seams split.

Porcelain tile is a type of ceramic tile that can be used as a flooring tile. It is fired at high temperatures to produce a hard and stain-resistant tile, which resists moisture. It can even be used outside in almost any climate because it is so strong. Porcelain tile can be purchased unglazed or glazed, just like other ceramic tiles. Unglazed porcelain tiles take on the clay color, giving them a natural earthy tone.

Glazed tiles, on the other hand can be made in any color and mimic the texture and look of real stone for a fraction of the cost.

The Americans with Disabilities Act certifies that porcelain tiles are slip-resistant. The designation should be clearly displayed on packaging materials or product information.

Cork is made of tree bark, which is harvested every 8-10 years. It is also sustainable. It is produced in countries that regulate harvesting to guarantee future supply.

There are some plus points. Cork’s compressible and waterproof cellular structure makes them a comfortable, water-resistant option. It comes in 12-inch-by-12-inch tiles and one-foot-by-three-foot planks, each with a unique grain pattern of swirls and speckles. It is slip-resistant due to its naturally textured surface.

Cork flooring does require maintenance. To protect against scratches and keep moisture out of the joints between tiles, cork flooring should be sealed every three to four year. Natural wax and polyurethane are good sealers. To keep it green, choose water-based polyurethane which is nontoxic and has low volatile organic compound (VOC) levels.

Original Blog: https://www.houselogic.com/by-room/kitchen/kitchen-flooring-ideas/

Today’s Housing Supply Gives You Two Opportunities

December 13, 2022 by chorton Leave a Comment

The increase in housing supply relative to last year might not seem like good news for potential sellers. However, it does offer two key opportunities in today’s housing market.

An article derived from Calculated risk helps to put inventory gains in 2022 into perspective, by comparing them with recent years ( Graph). This graph shows that supply has exceeded 2021 levels by 58%. The bigger picture is easier to see if you go back further. We are 35% less than the housing stock that we had in 2019, the last normal year of real estate.

This inventory growth allows you to sell your house if it is not meeting your needs , or lacks the space and features that you desire. You’ll find more homes to choose from when searching for your next house.

A local real estate agent can help you stay informed about the properties in your area. A professional can help you write a winning offer once you have found the right one.

However, inventory remains low in comparison to normal years. This is not going to change overnight. If you price your house correctly, it should still be in high demand from potential buyers.

You have many homes available to you if you are a homeowner and want to sell. However, inventory levels may be low so you can still sell your home.

If you’re ready to get started, contact Preferred Properties of Texas

Original Blog: https://www.keepingcurrentmatters.com/2022/12/13/ready-to-sell-todays-housing-supply-gives-you-two-opportunities/