dave kosmecki: 5 Reasons You Might Need To Consider Non-Traditional Financing - 11/12/13 05:54 AM
Private Money financing refers to loans collateralized by real estate, where the source of the funds used to close Real Estate transactions come from private investors.
The decision by the investors to make a loan is based primarily upon plenty of equity in the real property securing the loan thus reducing the risk of loss.
The ability to repay, and the borrower's character is also considered along with how the borrower will pay the investor back in time.
Private Money loans are needed when a borrower or a property falls outside the standard underwriting rules of conventional lending sources like banks or … (0 comments)

dave kosmecki: Creative Ways To Recycle Everyday Household Items - 11/12/13 05:46 AM
Every week the trash truck comes to pick up our garbage and unwanted items, which are promptly taken to landfills. Instead of filling landfills and just buying new items to stuff our homes, we can help the earth and recycle everyday household items.
Below are a few fun and creative ideas for recycling things around your home that you might be ready to trash.
Coffee Table Into Bench:
If you just purchased a new coffee table, don't give away the old one — repurpose it. Find a space in your home where you could use some additional seating, like at the … (0 comments)

dave kosmecki: Factors To Consider When Applying For A Home Mortgage - 11/12/13 04:50 AM
Owning a home can be a sign of independence and success. It allows you to build up equity and the mortgage interest and property taxes are tax-deductible. What can you do to make a home affordable for you?
Reputable lenders look at a list of criteria to decide how much they'll loan you. 
This List Includes:
Credit score Existing assets including cash Car leases or loans Credit card balances Debt consolidation loans Home equity loans Installment loans Student loans Other monthly debts Size/source of your down payment If you'd like to get an idea of what you can afford before talking … (1 comments)

dave kosmecki: Are 50 Year Mortgages A Good Financing Option? - 11/12/13 04:39 AM
When most people are taking out a mortgage on a property, they select either a 15 or 30 year mortgage loan. However, there is a new mortgage option that has been available to home owners since 2006 and that is the 50 year mortgage loan.
Although a half-century might seem like a very long loan term, there can be some advantages to taking out a five-decade mortgage. Here are some of the pros and cons to taking out a mortgage that you repay over 50 years.
Advantages:
The main benefit that you will experience with a 50 year mortgage is the … (0 comments)

dave kosmecki: When Should You Shred Your Financial Documents? - 11/12/13 04:27 AM
How do you know what happens to your documents when you put a piece of paper in the trash? It can be difficult to know who is seeing it and what they are doing with it. It isn't very common to burn trash anymore; therefore you can be sure that your paper garbage or recycling is likely to pass through several hands on its way to a landfill or recycling center.
Step-By-Step, Your Documents Can Get Pilfered:
Every step that occurs once the trash leaves your control has risk that someone will find personal information they can use to cause you harm. One … (1 comments)

dave kosmecki: Recent Government Activity And Its Effect On Mortgage Interest Rates - 11/01/13 08:25 AM
Mortgage rates typically are tied more to the yields on the 10-year Treasury note more than any other indicator. With the government in flux as the shutdown happened and ended, mortgage rates are also changing.
Overall, mortgage rates have decreased because of a lack of confidence in the government's ability to get its finances under control.
Although rates spiked in September when the Fed hinted that they would not be purchasing as many bonds, they quickly released an announcement that they would actually be maintaining their current purchasing habits.
The Time Is Ripe For Homeowners:
Since then, mortgage interest rates have … (3 comments)

dave kosmecki: Fed Meeting Minutes Release Hope Of A Stronger Economy With New Measures - 11/01/13 08:19 AM
The Federal Reserve's Federal Open Market Committee released its customary after-meeting statement on Wednesday. In the context of meeting its dual mandate of stabilizing pricing and achieving maximum employment.
The FOMC statement indicated that although the economy has improved in areas including household spending and labor market conditions, the national unemployment rate remains high and the housing market recovery has slowed.
Fed Says Fiscal Policy Restraining Economic Growth:
The FOMC statement said that current fiscal policy and "retrenchment" is restraining economic growth as evidenced by failure to achieve benchmarks set by FOMC as indicators of a healthy economy. Benchmarks include a national unemployment … (0 comments)

dave kosmecki: Beware Of Zombie Titles - 11/01/13 08:03 AM
With the economic downturn, anyone dealing in real estate quickly became familiar with previously little-known terms such as foreclosure and short sale. Now that the housing market is picking back up and people are moving on, a new term is coming to light — zombie titles.
The Zombie Title:
This is when a home has been vacated because the owners defaulted on their loan and their bank started the foreclosure process. However, for some reason or another the bank never completed the foreclosure and sold the home.
So, when the city starts fining someone for the overgrown grass and dilapidated structure, … (1 comments)

dave kosmecki: What You Should Know About Pending Home Sales This Month - 10/29/13 08:23 AM
Pending home sales fell in September by -5.60 percent, and were 1.20 percent lower year-over-year. This is the first time in more than two years that pending home sales have fallen below year-earlier readings. September's reading was below August's reading of -1.60 percent.
The National Association of REALTORS®, which released the report, expects lower home sales for the fourth quarter of 2013 and flat sales into 2014. NAR provided good news in its forecast of 10 percent growth in existing home sales in 2013 as compared to 2012.
A spike in mortgage rates in August coupled with rapidly rising home prices … (1 comments)

dave kosmecki: 3 Easy Tips To Protect Your Deck This Winter - 10/25/13 06:44 AM
Barbecue season is all but over, and you won't be spending as much time out on the deck. Don't let it get you down, though. Spring will be here before you know it. There are a lot of things that can wear down and damage your deck, so protect your deck and make sure it stays in tip top shape over the winter.
Cover The Furniture:
You want your deck to look as good in the spring as it does now. The first step is to cover all the furniture (don't forget the grill!). Cover everything with commercial furniture covers or … (0 comments)

dave kosmecki: Why Should One Consider Refinancing Their Mortgage Now? - 10/25/13 06:25 AM
Refinancing a mortgage is a golden opportunity to lock in today's low interest rate for the next 15 or 30 years. While interest rates now are still low, there's a good chance they will be heading up in the coming months.
The Fed won't maintain the current bond purchasing level forever, and just as rates spiked in September when the Fed hinted the bond purchasing would change, rates will spike even more when purchasing levels actually do change.
As interest rates remain very low for 30-year and 15-year mortgages, homeowners can benefit greatly from a refinance. Several types of people in … (1 comments)

dave kosmecki: City Lights Or Starlit Nights, What Home Location Is Best? - 10/23/13 08:15 AM
If you are looking to buy a home, you might be wondering whether you should be looking for properties that are right in the center of the city or property in a rural area a short drive away.
The rural or urban decision will ultimately be up to you, as there are advantages and disadvantages to either option. The main difference will lie in your priorities – what type of lifestyle is most important to you?
Living In The City:
One of the main perks of buying a property that is located in the heart of the city is that you … (0 comments)

dave kosmecki: The Government Shutdown And Its Effect On Existing Home Sales - 10/23/13 07:54 AM
Existing home sales for September fell by 1.90 percent from August's revised reading of 5.39 million sales to 5.29 million sales. Economists had expected 5.30 million sales for September, so a slow-down in existing home sales had been anticipated.
The National Association of REALTORS cited higher home prices and mortgage rates as factors contributing to fewer sales of previously owned homes.
Home Prices Easily Outpaced Income Growth:
According to Lawrence Yun, NAR's chief economist, home prices "easily outpaced income growth." Consequently, affordability has fallen to a five-year low. Mr. Yun also indicated that a government shutdown was expected to affect home sales in … (0 comments)

dave kosmecki: How To Manage Those Fallen Leaves - 10/18/13 08:56 AM
The kids are back in school, the weather is getting cooler and your yard is covered in a layer of fallen leaves. Yep, it's that time of the year again, but don't think of fall leaves as a chore. They can be a useful resource for fertilizing your lawn or even decorating your home for autumn.
Finish The Raking:
It's tempting to just let the leaves lie in the yard. It's good fertilizer anyway, right? Wrong. You should rake everything up as soon as the trees begin to look bare, or else risk the blanket of leaves smothering your lawn over … (1 comments)

dave kosmecki: Housing Market Index Shows Builders Continue To Have A Positive Outlook - 10/18/13 08:46 AM
The National Association of Homebuilders/Wells Fargo Housing Market Index dropped two points to 55 from September's revised reading of 57. Builder concerns over labor costs and availability and economic uncertainty related to the federal government shutdown were noted as factors contributing to the lower reading for October. 
Key Points Noted In October's HMI included:
Builder confidence remains above 50, which indicates that more builders have a positive outlook on housing market conditions than those with negative sentiment. The October HMI cites pent-up buyer demand in markets throughout the US as a positive influence on October's reading. A spike in mortgage rates … (0 comments)

dave kosmecki: Get The Lowdown On Private Mortgage Insurance - 10/17/13 08:11 AM
You may have heard the term Private Mortgage Insurance when looking to finance real estate. What is PMI, and how do you know when you need to purchase it?
The answer can be hard to find among all the real estate jargon you're hearing lately. Below is the short version of what you need to know.
What Is Private Mortgage Insurance?
PMI is an extra insurance required by some lenders to offset their risk of you defaulting on your home loan. When you put down less than 20 percent of the real estate's value, your lender may tell you that you … (0 comments)

dave kosmecki: Nail The Final Walkthrough Before Closing - 10/17/13 08:01 AM
By the time you get to the final walkthrough on your property, the home buying process is almost complete. However, it is still important to pay close attention to this final step, as it will be crucial in the success of your home purchase.
The final walkthrough is your last opportunity to ensure that everything in the home is in working order and that there are no potential problems waiting for you when you take over ownership of the property.
While conducting a final walkthrough of the property, give yourself enough time to look carefully at everything and not be rushed. … (1 comments)

dave kosmecki: 4 Tips On Giving Your Mudroom A Makeover - 10/11/13 06:22 AM
From crunched-up leaves stuck to bottoms of shoes to bulky coats shed as soon as kids walk through the door, mudrooms are ideal for keeping outdoor dirt, wet clothing and outerwear from being strewn throughout your home.
Mudrooms not only keep the rest of your house clean, but they also designate a spot for those last-minute grabs, such as coats, umbrellas and purses, when you're running out the door.
These rooms are great catchalls. However, an organized mudroom can make your life and those hectic mornings much less stressful. Below are smart tips for getting your mudroom ready this fall.
1. … (1 comments)

dave kosmecki: 5 Strategies To Secure Your Home Against A Break In - 10/11/13 06:08 AM
Having your home broken into is completely violating. Burglars don't just steal your stuff; they steal your peace of mind. While this is the sort of thing you think will never happen to you, it's worth the time and effort to make sure you're not a target.
Below are five strategies to help secure your home against a break-in.
1. Use Landscaping As A Barrier:
Purposefully place plants in spots that create a natural barrier to your home. Plant thorny rose bushes in front of bedroom windows and remove overgrown shrubs that provide coverage for creepers.
Also, trim back any tree … (4 comments)

dave kosmecki: Tips On Passing Your Home Inspection With Flying Colors - 10/11/13 05:43 AM
Home inspections are a tense time for everyone. Sellers are fervently hoping that nothing major is wrong with their home that could hold up the transaction.
Buyers are eager to hear that their new house is in prime condition. Whatever the wishes, one thing is for sure; any news from an inspector is usually bad news.
Home inspectors have a tough job. They have to be trained to spot hundreds of potential issues with a home and be knowledgeable of local codes, community restrictions and residential permit parameters.
Stay one step ahead of your home inspector by reading the list of … (0 comments)