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Author Archives: Make your Home your Haven!

Proof of Purchase

30 Monday Jan 2017

Posted by Make your Home your Haven! in News you can USE!, Who New?

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baton rouge homes for sale, Home Inventory, Insurance claims, News you can USE!, Proof of Purchase, safety

People who experience a property loss are usually asked by their insurance company for proof of purchase which can come in the form of a receipt or current inventory of their personal belongings.

receipts or inventory.png

Even the most organized people might find it challenging to find receipts for all the valuables in their home. If the inventory isn’t up-to-date, a homeowner might forget to add some items to the claim and may not recognize the omission for long after the claim is settled.

The inventory can serve as a guide to make sure a homeowner gets compensated for all the loss.

Photographs and videos can be adequate proof that the items belonged to the insured. A series of pictures of the different rooms, closets, cabinets and drawers are helpful. When video is used, consider commenting as it is shot and be sure to go slow enough and close enough to things becoming recorded.

For your convenience, download a Home Inventory, complete it, and save a copy off premise. Good places for your inventory could be a safety deposit box or digitally, in the cloud if you have server-based storage available like Dropbox.

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What is the White House Worth?

27 Friday Jan 2017

Posted by Make your Home your Haven! in Who New?

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President trump, Washington, white house value

With all the attention on Washington and what is going on at the White House, I thought it might be interesting to give a Real Estate angle to the situation. What do you think?

http://www.bestrealestateblog.com/panel-3-real-estate-brokers-speculate-white-house-worth?m=udCZmggHkHGZnenPmQzg

 

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Rent or Buy – You Pay for the House You Occupy

09 Monday Jan 2017

Posted by Make your Home your Haven! in Helpful Information, News you can USE!

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baton rouge homes for sale, credit report, first time home buyers, home financing, home ownership, homes for sale in baton rouge, homes for sale in prairieville, Real Estate Listings, Real Estate News, rentals, renting vs buying, renting vs buying a home, smart investing

The ironic thing about people who think they can’t afford to buy a home for themselves, end up buying the home for their landlord. There are several facts that support this notion.

Home is Leveraged Investment-300.png

Mortgages, whether held by an owner-occupant or an investor, are usually amortized so that each payment reduces the principal amount owed so that the loan will be repaid totally over the term. A tenant is inadvertently retiring the landlord’s mortgage with his monthly rent.

In most cases, the mortgage payment including taxes and insurance will be lower than the rent tenants are paying. Some experts are saying that we may never again experience the incredibly low mortgage interest rates currently available.

Renting precludes a person from enjoying the advantage a home has as a leveraged investment. When the borrowed funds cost less than the investment is returning, the rate of return on the down payment grows much faster. As you can see from the chart, a 2% appreciation on a home could result in big returns on the down payment. In most cases, there are very few or no alternative investments that offer homeowners similar returns.

Even if a buyer agrees with all of these things but doesn’t have the down payment or cannot qualify for a loan, they still need to investigate further. To find out exactly what types of loans are available and the specific down payment required which can be a whole lot less than 20%, they need to consult with an experienced, trusted loan professional (an Internet lender or a “BIG” bank may not be the best choice.) Call for a recommendation.

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What a Difference 50 years Makes

19 Monday Dec 2016

Posted by Make your Home your Haven! in Helpful Information, News you can USE!

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interest rates 2016, interest rates 2017, mortgage rates, Updated Interest Rates

In 1966, a gallon of gas was $0.32 and today, it is $2.49. A dozen eggs were $0.60 but they’ve only doubled to $1.33. A gallon of milk was $0.99 and today, it costs $3.98. You could send a letter for five cents and now, it costs forty-seven cents.

The average cost of a new car in 1966 was $3,500 and today, it will cost $33,560. New cars have more features than the earlier models but they’re still ten times more expensive. The median price of a new home was $21,700 and now, is $304,500.

stamp.png

Interestingly, mortgage rates are actually lower today at 4-4.5% than they were fifty years ago when they were just under 7%. The rates have been low for long enough that many people have been lulled into believing that they are not going to go up.

Yes, rates are a little higher but in perspective, they’re still a bargain. Years from now, will you be remembering and comparing what they were back when?

 

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21910 Rabbit Run

19 Monday Dec 2016

Posted by Make your Home your Haven! in News you can USE!

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Baton Rouge Real Estate, homes for sale in baton rouge, homes with acreage, luxury homes, mallard lakes

Rare Gem located in serene Mallard Lakes. You can come home to a custom built beauty just minutes away from the city & enjoy living in a luxury retreat every day. Take time to visit this exquisite listing in the upscale neighborhood of Mallard Lakes that offers 6227 sq. ft. with 5 bedrooms, fame room, 4 full baths, & two half-baths, room for the family & guests.

Wake up each morning to the glorious view retreat-like setting with salt water pool, waterfall, Jacuzzi, & quartzite deck that overlooks one of the three contained ponds. You can cuddle up with a good book by the double sided fireplace inside, or take advantage of the outside kitchen and fireplace when you are ready to entertain. The custom finishings in this home are extensive. Let’s start with an elevator that will take you to the media room, or the attic if needed, take the time to go to the man cave above the garage. If that wasn’t enough to keep you busy, take solace in the complete private master retreat and bath. Total indulgence with the custom designed double walk through rain shower, Jacuzzi tub, marble counters, & custom designed mirrors, along with ample counter and storage space included in the adjacent MASSIVE walk in closet. You will love the over-sized island where you can store everything imaginable in this 14’ x 17’ space, along with a wall of a hanging room that accommodates attire for every season of the year. Step right into the detailed laundry room where there is more storage, shelving, and unique features. With three beds, 2 baths, & media room on the second level, there is still plenty of room for your guests in the private mother-in-law suite on the main floor that has its own private bath, custom shower & private entrance to the pool. Covered parking for 5 …ample parking space for more with plenty of land to take quiet peaceful walks in the morning or afternoon.

Schedule your private tour soon and be one of the first to take advantage of this amazing property.

 

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It Isn’t Final Until It’s Funded

28 Monday Nov 2016

Posted by Make your Home your Haven! in Helpful Information, News you can USE!

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conventional mortgage, entertainment, FHA mortgage, home loans, interest rates 2016, mortgage qualifications, Mortgages, Refinance mortgage, Today's Mortgage Rates

Mortgage approval isn’t final until it’s funded.  Things can change prior to the loan being closed that can affect a pre-approval such as changes in the borrowers’ financial situation or possibly, factors beyond their control like interest rate changes.40783733-250.jpg

Good advice to buyers is to do nothing that can affect your credit report until the loan closes. Opening new credit cards, taking on new debt for a car or furniture or changing jobs could affect the lender’s decision if they believe you may no longer be able to repay the loan.

The benefits of buyer’s pre-approval are definitive: it saves time, money and removes the uncertainty of knowing whether the buyer is qualified. The direct benefits include:

  • Amount the buyer can borrow – decreases as interest rates rise
  • Looking at “Right” homes – price, size, amenities, location
  • Find the best loan – rate, term, type
  • Uncover credit issues early – time to cure possible problems
  • Bargaining power – price, terms, & timing
  • Close quicker – verifications have been made

It is a very common practice for mortgage lenders to require income and bank verifications and to re-run the borrowers’ credit one final time just prior to closing. Mortgage approval isn’t final until it’s funded.

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It’s the Principal of the Thing

14 Monday Nov 2016

Posted by Make your Home your Haven! in News you can USE!

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credit report, Debt Free, ecomony, home financing, interest rates 2017, Mortgages, principal and interest on loans

Most people think they’ll have a house payment and a car payment for the rest of their lives but it doesn’t have to be with a plan and a little discipline. The plan is to make additional principal contributions to a fixed rate mortgage to shorten the term and save tens of thousands in interest.

 

If a person were to make an additional $100 pay65125303-250.jpgment each month applied to principal on a $175,000 mortgage, it would shorten the loan by five years six months. If the person were to make $200 a month additional payments, it would shorten the loan by 9 years. $459 additional payment would shorten it to 15 years.

equity accelerator 11-16.png

If a person does make a decision to regularly pre-pay their mortgage, it will be their responsibility to verify that the lender is applying the money to the principal each time as opposed to being placed in the reserve account for taxes and insurance.

In today’s market, a savings account pays around 0.5% or less. Even with the low mortgage rates available, there is still a considerable savings. People who might need the funds in the near future should carefully consider this option due to the difficulty to access equity easily from one’s home.

Make your own projections using the Equity Accelerator.

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Country Living…

05 Saturday Nov 2016

Posted by Make your Home your Haven! in News you can USE!

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ACREAGE WITH HOME FOR SALE, COUNTRY HOME, HOMES FOR SALE IN LIVINGSTON, homes with acreage, LIVINGSTON HOMES FOR SALE, Maurepas, Real Estate, Springfield

download
Step back in time with this unique cottage home that was built with materials that are far too hard to come by today. This four bedroom/two bath cottage home has the quiet comfort and solace that can only be found, like this, in the country. With walls made of Pecka Cypress, as well as the ceilings, and floors in most of the home, original solid wood doors, original wood flooring, and the comfort of a large
covered back porch, with fenced in yard, and almost 2,000.00 sq ft of living, you cannot escape what this rare gem has to offer your family.
Along with that, there is a two car carport with extra parking in front, storage shed attached to the carport and a large RV Port. In addition, you
are in a district with top rated schools, and just minutes away from shopping at Gonzales or Hammond. You will not regret checking out this
home, it has quite the charm and you can make it our own. Did not Flood, not in a Flood Zone.
Virtual Tour

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Time to Change.. Don’t forget to set your clocks back one Hour!!

04 Friday Nov 2016

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fall, fall back

fall-back

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Posted by Make your Home your Haven! | Filed under News you can USE!

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When the rate goes up

26 Monday Sep 2016

Posted by Make your Home your Haven! in Around Town, Finding a Realtor, Helpful Information, News you can USE!

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FHA mortgage, Home Ownership Tax Benefits, Housing Market Trend, improving your credit score, tax incentives, Today's Mortgage Rates, Updated Interest Rates

It’s not “if” the rate goes up but “when” the rate goes up; it could make a big difference for some buyers. Freddie Mac predicts that mortgage rates will be at 4.5% a year from now.

mortgage-rate-history

If buyers can afford a home with higher interest rates, it means higher payments. Higher payments might mean they won’t have the money to spend on other things like furniture or improvements to the home or an unrelated purchase like a new car.

When the rate moves 0.50% on a $250,000, the payment goes up by $70.66 a month. If it moves 1.00%, the payment goes up by $143.74 per month, each and every month for the entire term of the mortgage which means paying over $50,000 more for the house.

The question facing every borrower in this situation is “How will you feel about having to pay more to live in the same house because you were not ready to commit?”

Then, there’s the borrower who is absolutely maxed out as to what they can qualify for or sometimes, it is a borrower who just refuses to pay a higher payment. When that’s the case, the buyer has to make a larger down payment. In the same example, a 0.50% increase in rate would require $14,873 more in down payment. That could make the purchase impossible or require the buyer to buy a lesser price home that will not have the same amenities.

Mortgage rates have been low for so long that some people think that is what they should be. There are some economists who believe that the economy will not be strong again until mortgage rates are in the 7% range.

To see how this type of scenario might affect you, go to the   http://www.betterhomeowners.com/FinancialApps/RateGoesUp.aspx?AccountId=EDlpyr3ghkCnBFQdFv9dGQ&Auth=1

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Unknown's avatarCovington & Associates Real Estate
Janice Dubois & Carol Cotten
Team Sisters
Office: 225.667.3711
Cell: 225.933.7062, 2250.445.4911
batonrougehousehunters.com
1110 Range Ave. Denham Springs, la. 70726
e-Pro, SRS, ABR, CRS Certified Residential Lic in the state of LA & MS
License: Janice LA#71854: Lawson Covington Broker
e-Pro, SRS, ABR, CRS
Team Sisters
Agent license # 71854 In the state of Louisiana by LREC & Mississippi
Each Office Interdependently Owned and Operated | EBR, Livingston and Ascension Parishes and MS. SW Counties
The Greatest Compliment I can Receive is a Referral from my Clients, Family, and Friends! - Thank You

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Realtor®

Unknown's avatarCovington & Associates Real Estate
Janice Dubois & Carol Cotten
Team Sisters
Office: 225.667.3711
Cell: 225.933.7062, 2250.445.4911
batonrougehousehunters.com
1110 Range Ave. Denham Springs, la. 70726
e-Pro, SRS, ABR, CRS Certified Residential Lic in the state of LA & MS
License: Janice LA#71854: Lawson Covington Broker
e-Pro, SRS, ABR, CRS
Team Sisters
Agent license # 71854 In the state of Louisiana by LREC & Mississippi
Each Office Interdependently Owned and Operated | EBR, Livingston and Ascension Parishes and MS. SW Counties
The Greatest Compliment I can Receive is a Referral from my Clients, Family, and Friends! - Thank You

Categories

Recent Posts

  • Is the market heating up?
  • VEVOR 20 inch Wall Mount Fan Oscillating, 3-speed High Velocity Max. 
  • Dust Daisy Pro: Stretch-A Must-Have Home Hack You Will Love! 🌟
  • What About a Dehumidifier? WHO KNEW?
  • Home Closing Time: Factors and Considerations

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