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Displaying blog entries 41-50 of 530

8 Tips for Saving Money in the New Year

Thursday, January 27, 2022
by Scott Darling


Many think that saving money is impossible, but there are plenty of easy ways to stockpile your hard-earned cash.  Take a few of these ideas and build up your savings account, save for a family vacation, a college fund, or add to your home emergency fund: 

 

  1. Ask your employer to deposit your pay directly into your bank account.  Automate your savings by setting up an automatic transfer from your checking to your savings each payday. When you do not see the money, you do not miss it.  
     

  1. Piggy banks are not only for the kids!  At the end of each day, add coins to a large jar or other container. Save one- or five-dollar bills instead of spending them and add them to the jar as well.  Set a goal for how long you will save until you deposit or spend the cash.  
     

  1. Utilize your local library to save on not only book-buying but monthly audiobook subscriptions and DVD rentals. Ask if your library offers the OverDrive or Libby smartphone apps that allow you to check out eBooks, audiobooks, magazines, and videos.   
     

  1. Sign up with a rebate shopping website such as Rakuten or Ibotta, and have the rebates sent to your PayPal or other online payment system account and think of it as a no-interest savings account. 
     

  1. Once a loan or credit card balance is paid off, add the payment amount you would normally make to your savings. 
     

  1. Open a "club" savings account for holiday shopping or summer vacations. Automatically transfer a set amount each month, and when the shopping or vacation date is near, you may withdraw the money without penalty. Taking advantage of these low-interest savings accounts help with overspending, as well as cutting down on expensive credit card spending. 
     

  1. If you use coupons or a loyalty card while grocery shopping, look for “You saved $X today!” on your receipt, and squirrel away that total in your savings. 
     

  1. Round your checking account balance at the end of each month and transfer the difference to your savings. For instance, if there is $613.68 in your checking account, transfer $13.68 to your savings. 

 

A few dollars here or a handful of change there does not seem like you are saving very much, but it truly adds up.  Checking the balance every few months will encourage you to continue adding to your savings hoard. Have you met your savings goal? Increase it and keep saving!  Once you develop a routine, saving becomes second nature--a habit you will not want to break! 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: vfcu.net

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Chester County PA Real Estate Market Trends for December 2021

Monday, January 24, 2022
by Scott Darling

Chester County PA Real Estate Market Trends for December 2021

Chester County PA single-family homes saw pending sales decrease by -10.4% in December 2021 when compared to December 2020. 662 homes sold in December with a median sales price of $421,000. The average days on the market fell by 6 days. If you are thinking about selling your home get a free instant home evaluation Learn More. 

 

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9 Ideas for Hiding the Mundane Essentials in Your Home

Friday, January 14, 2022
by Scott Darling


When was the last time you looked through the photos of a beautiful home on a website or in a magazine layout? Did you miss anything? Probably not.  The non-stylish parts of a house have been digitally removed from the photos so that all a viewer sees is style.  Electrical outlets and cords, as well as HVAC vents, are necessities in a home, and while photo editing software cannot hide them, there are plenty of tricks to conceal them. 

 

  • Canvas art usually has an open back and can be placed over flat-screen televisions, thermostats, and window unit air conditioners (when not in use). 
     

  • Paint can cover many things we do not like, and if your kitchen appliances are lacking, there is paint for that!  It does not have to be a color; appliances can be painted for a stainless look as well. 
     

  • Create a gallery wall around the thermostat, and it will fade into the framed pieces. 
     

  • Return air vents are necessities but can be made to look much nicer: purchase a stylish cover that is made specifically for return vents, hang a stylish doormat over the vent, or switch the everyday slatted panel with decorative sheet metal. 
     

  • Hide the home WiFi router in an empty box with holes cut in the back for cords, an inexpensive basket, or get crafty and make a screen from old book spines! 
     

  • Cover popcorn or dated plaster ceilings with prefinished wood planks, faux beams, or tiles made of one of the many materials available at local home stores. 
     

  • Make that plain bathtub go undercover with self-stick tiles.  They come in all styles, shapes, and colors, and do not require any previous installation know-how. 
     

  • Wall-mount televisions have become the norm, and the cords hanging from the screen can be unsightly.  Home centers have cord cover installation kits in many styles and colors for those who feel confident enough to use some power tools. 
     

  • Paint radiators in the same color as the wall.  This may not hide them completely, but they will blend in, making them easier on the eye. 

 

Who needs a designer or magazine layout to make those household essentials fade into the background?  Updating the style of the mundane and functional parts of a home can be fun and easy, and while some of them may be little changes, they can make a big impact. 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: Hello Tech

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Ten Important Financial Terms for Home Buyers

Wednesday, January 5, 2022
by Scott Darling

 

While meeting with a lender to discuss the purchase of a new home, you may hear and read words you are not familiar with. Knowing these financial terms and acronyms will make that meeting go more smoothly. Here are some common financial terms that will come up during your mortgage transaction: 

 

  • Adjustable-Rate Mortgage (ARM): a type of mortgage in which the interest rate applied to the outstanding balance varies throughout the life of the loan. A fixed rate may be applied for the initial loan period, but after that, the rate will fluctuate. Sometimes called a Variable Rate Mortgage. 
     

  • Annual Percentage Rate (APR): the yearly rate of interest that an individual must pay on a loan.
     

  • Closing Costs: fees and expenses paid at closing, beyond the down payment; costs can run 3 to 5 percent of the loan amount and may include title insurance, attorney fees, appraisals, taxes, and more.
     

  • Debt-to-Income Ratio: the borrower’s monthly debt payments divided by their gross monthly income; the number is one way lenders measure the borrower’s ability to manage monthly payments of the loan they receive.
     

  • Earnest money deposit (EMD): deposit made after buyers make an offer on a property; sometimes referred to as a good faith deposit; held in escrow until closing.
     

  • Escrow: an arrangement in which a third party distributes the money paid during the property-buying transaction.
     

  • Fixed-Rate Mortgage (FRM): a type of loan in which the interest rate on the mortgage is fixed; the rate will not change during the term of the mortgage.
     

  • Loan Estimate: tells important details about the mortgage loan requested; compare and choose the loan that's right for your budget by getting a loan estimate from more than one lender.
     

  • Pre-Approved: when the home buyer is approved by a lender for a specific loan amount after the buyer provides documented financial information to be reviewed and verified by the lender.
     

  • Pre-Qualified: an estimate of how much the home buyer can borrow based on a review of financial information; not a guarantee of being approved.

 

Do not go into the lending process without some knowledge under your hat! Going into what is probably your largest investment without knowing anything about it may end up in disappointment and having to wait longer to buy your new home. The Consumer Financial Protection Bureau offers many other terms not listed here and is a great resource for learning more. 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: Medium

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A Seller's Guide to the Home Appraisal

Tuesday, December 28, 2021
by Scott Darling


The appraisal is one of the many steps in the buying/selling transaction. Lenders need an unbiased valuation of the home being sold, and the appraiser will look at the property. Sellers generally have at least two weeks to get ready, and because they have an important stake in the appraisal of their house, they should be well prepared: 

 

Exterior 

  • Make sure the front and back yards are neat and free of debris. Check fencing, steps, and walkways for any damaged places and make any necessary repairs. 
     

  • As close to the appraisal appointment as possible, put down fresh mulch, colorful potted plants, and mow the grass. 
     

  • The exterior siding should not have peeling paint, broken or missing vinyl siding, or rotting wood. 

  • Make certain windows are in good working order, with no rotting sills, cracked glass, or peeling paint. 
     

  • Decking and porches should be in safe condition. 
     

  • From a distance, look at the roof for missing shingles or bad spots. Have any recent roof repair paperwork ready for the appraiser. 

 

Interior 

  • Flooring that is worn, soft, cracked, scratched or stained will deduct from the home’s value. Clean the carpets, and make repairs to any hardwood, tile, or linoleum. Use an enzyme odor remover where pet odors are present. 
     

  • The appraiser will check the water pressure by turning on all faucets and will flush toilets, too. 

  • Kitchen cabinets should not have sagging doors, and all should close completely. 
     

  • If the odor of mold is present, it will be cause for further inspection. Clean the usual bathroom mold before the appraisal, but if mold is present anywhere else in the house, it is best to be straightforward with the problem and have it professionally eliminated. 

 

Repairs that cost $500 or less are worth making, as they usually add to the appraisal value. Allow the appraiser to perform their job, answering questions along the way, and have any paperwork from previous repairs at the ready. After prepping the house for the market, it is important to maintain it during the showing process, as it will save time and money once an offer is made and the appraiser makes their assessment. 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: Old Republic Title

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Fire Prevention in the Home

Friday, December 17, 2021
by Scott Darling

Although it may seem like it was only yesterday that you ran a check on all your smoke and carbon monoxide detectors, making sure your home and your family are prepared in case of fire cannot be repeated too often.

Fire Safety Tools

Properly functioning smoke alarms are the first step in alerting everyone in the house of fire. Detectors should be installed on every floor, closest to bedrooms.  Consider installing an interconnected alarm system so that when one goes off, all of them go off.

A fire extinguisher should be easily accessible on every floor of your home. Learn how and where to store the extinguishers, as well as what types to keep in each place from Firefighter Insider.

Homes with more than one-story should have an escape ladder close to an easily accessed window on the upper floor. Safewise.com has a list of their best-rated ladders and offers tips for choosing the right ladder for your home.

One prevention measure many homeowners do not consider is the installation of lightning rods. Lightning rods may seem like an outdated tool, but they can save electronics from lightning damage as well as preventing a fire. Home lightning protection comes in many styles that complement the exterior of your home.

Fire Safety Tips

Is there a circuit breaker that trips frequently or a light switch that does not always work? These types of electricity issues are dangerous and should be checked out by an electrician.

Using extension cords seems to be the best solution when there are not enough outlets. Overloading electrical outlets is dangerous, so call an electrician to install more. The cost of a professional upgrade outweighs the cost of a fire.

Keeping the dryer’s lint screen and vent clean prevents lint build-up, making fire less likely.

Never leave cooking food unattended, and even though your children may like to help, have their station set up far from any hot items. Keep towels and paper products away from anything hot.

Besides knowing how to use an extinguisher, every cook in the house should know how to keep a grease fire from spreading.

Most importantly, set up a family fire plan, and call a family meeting so that all family members know what to do and where to go in case of fire. Consult the National Fire Protection Association’s guidelines and use the free printable tools to make your planning process go smoothly. No amount of time taken to put a plan into place and practice is too much when it comes to protecting your home and family from a fire.

Courtesy of Chester County PA Realtor Scott Darling.

Photo credit: istock

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Chester County PA Real Estate Market Trends for November 2021

Wednesday, December 15, 2021
by Scott Darling

Chester County PA Real Estate Market Trends for November 2021

Chester County PA single-family homes saw pending sales decrease by -3.9% in November 2021 when compared to November 2020. 661 homes sold in November with a median sales price of $435,000. The average days on the market fell by 4 days. If you are thinking about selling your home get a free instant home evaluation Learn More. 

 

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6 Common Home Hazards and How To Fix Them

Wednesday, December 8, 2021
by Scott Darling

We think of home as our safest space, but sometimes, hazards are lurking unawares. This guide to hidden dangers will help you find and make repairs before it is too late: 

 

  • Was your home built before 1978? If so, check for lead paint before scraping any painted woodwork. Purchase a lead-testing kit at your local home center or hardware store. In the case of a positive test, find a specialist that will remove the lead paint safely. You will find more information at epa.gov/lead or by calling 800-424-LEAD. 
     

  • Speaking of older homes, have an inspector check out the plumbing for lead or polybutylene (PB) pipes. It may be safer and less costly to filter the lead from drinking water with a product that meets NSF/ANSI standards for lead reduction. PB pipes corrode over time, eventually causing a rupture, and should be replaced. 
     

  • Keep your dryer lint trap clean, using a vent brush to clean all lint as far as you are able once per month. Unplugging items that are not being used is an easy step to avoid a fire hazard. Other appliances that can cause a fire: ranges, coffee makers, and refrigerators. 
     

  • Check and maintain areas of your home that are possible fall risks. Handrails should be secure, and steps should be free of debris. Walkways and steps should not be loose or crumbling. Use non-skid tape for area rugs, and keep kitchen, bathroom, and utility room floors dry. 
     

  • Not all molds are extremely dangerous, though they do cause allergic reactions for some. As soon as mold is discovered in your home, clean it with non-ammonia cleaner and water, or for hard surfaces, use a <span class="SpellingError SCXW48458862 BCX0" style="margin: 0px; padding: 0px; user-select: text; -webkit-user-drag: none; -webkit-tap-highlight-color: transparent; background-repeat: repeat-x; background-position: left bottom; background-image: url(" data:image="" gif;base64,r0lgodlhbqaeajecap="" 8aaaaaaaaaach5baeaaaialaaaaaafaaqaaaiilgaxcchrtcgaow="=&quot;);" border-bottom:="" 1px="" solid="" transparent;"="">one-cup-bleach:one-gallon-of-water mixture. If the mold continues to grow or if it is found in carpets and drywall, it is better to have those items replaced. 
     

  • Asbestos is only a dangerous substance if it is disturbed. If you notice deterioration in an area that you suspect is made of asbestos seek a local professional that can safely remove the offending material. 

 

Do your very best to save for emergencies like this. Insurance and home warranties do not always cover health hazards such as these. However, correcting problems as soon as you find them is best for you, your wallet, and your family’s health and well-being. Home safe home is a home sweet home. 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: LifeSavvy

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Six Tips on Building Equity in Your Home

Monday, November 22, 2021
by Scott Darling


What is home equity? The Balance explains it this way: home equity “...is the amount that you own, or what you would get after paying off your mortgage after selling.”  For most Americans, their home is their largest investment, so keeping a watchful eye on the equity and taking action when it is necessary is their first defense.  

 

  • Before purchasing a new home, consider adding more to the down payment. This simple action creates equity by reducing the amount of your mortgage loan. 
     

  • The smaller the loan term, the faster the loan is paid off. Your payments will be higher, but if it is affordable, it is a fantastic way to gain equity quickly. 
     

  • Every monthly payment you pay towards your mortgage automatically builds equity unless your mortgage is an interest-only loan. Discuss this with your lender before you begin because you want to be certain that you are paying down the principal. 
     

  • - Adding to your payment each month not only builds the equity, but it will save money on interest in the long-term. 

  • - Consider dividing your monthly payment into two payments every other week. This is This plan makes it easier for you to squeeze in one extra payment per year. (26 half-payments=13 monthly payments) 

  • - Less expensive ways to pay the principal down sooner:  round up your monthly payment, budget a smaller amount each month to be paid on your loan, or use a tax refund or work bonuses to pay towards the principal. 
     

  • Properly maintaining your home will at least keep up the value, depending on the market, of course. Roof leaking? Repair it. Paint peeling? Grab a paintbrush. Sweat equity does not cost you anything, but if you must, hire a pro so that the job is done right. 
     

  • Adding value to your home is possible, but only if you are not spending too much out-of-pocket or dipping into a home equity loan to make the upgrades. 
     

  • Refinance your mortgage only if it is necessary or if you are decreasing the loan term. 

 

If you are unsure about the local market, call me and ask me to pull recent sales in your neighborhood so you can compare selling prices of similar homes with your mortgage balance. Now may be a good time to sell if you have enough equity in your home, and I will help you every step of the way! 

 

Courtesy of Chester County PA Realtor Scott Darling. 

 

Photo credit: Forbes

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Chester County PA Real Estate Market Trends for October 2021

Friday, November 19, 2021
by Scott Darling

Chester County PA Real Estate Market Trends for October 2021

Chester County PA single-family homes saw pending sales decrease by -18.1% in October 2021 when compared to October 2020. 447 homes sold in October with a median sales price of $488,000. The average days on the market fell by 17 days. If you are thinking about selling your home get a free instant home evaluation Learn More. 

 

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