Hampton Roads Real Estate BlogRecently posted or modified blog postshttps://www.perfecthouse.com/blog/Copyright PerfectHouse.com2020-12-10T09:06:38-07:00tag:perfecthouse.com,2012-09-20:5657Covid 19 Response<img src="https://assets.site-static.com/userfiles/2090/image/COVID-19_Blog.png" width="800" height="2000" />2020-05-26T13:37:00-07:002020-11-24T02:05:53-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:5658DANGER!!!!
The TRUTH can be a scary thing!!!!
Your friends and family are indeed IN DANGER of bad advice, in dealing with an agent who is ONLY trying to get them to the closing table.
Tell them to INTERVIEW multiple agents, whether buying or selling, and to NOT just go with "the first agent someone told me about" or otherwise "saw on the internet"...
The agent you choose MATTERS... ESPECIALLY in regards to the LARGEST financial transaction a person (or family) will make in their lifetime.
Got questions? Ask away! We're always available whether by text or call (757.335.6111), email (team@perfecthouse.com) or messaging on our social media platforms... AND GUESS WHAT? You'll speak to a REAL LIVE AGENT--- no phone bank or random answering service just looking to get your information.
Call us and talk TO US!
www.PerfectHouse.com
2019-04-21T13:40:00-07:002020-12-10T09:03:48-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:5659Termites or Flying Ants???A huge thank you to our friends over at Brick Kicker Home Inspections, for this excellent write-up on looking for the differences between these two pests!!!!
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Swarming season is almost upon us, and it can be fairly difficult for the untrained eye to make the distinction between termites and flying ants. Knowing the difference the two could potentially save a homeowner time and money, as the treatment cost for termites is roughly four times more expensive than for flying ants. This is due to termite treatments warranting a more extensive application method, and price disparity in the chemicals used to treat.
Termite swarmers have straight antennae that appear to be made of tiny beads, a broad waist, and two sets of equal length wings. <br />Flying ants have elbow shaped antenna, hourglass waists, and two sets of unequal length wings. While they may look similar, flying ants are not wood destroying insects, therefore they do not pose any threat to the structural integrity of your home.
Here are a few termite swarmer prevention tips:
•Remove sources of excess moisture such as broken downspouts or leaky pipes. <br />•Do not store piles of wood directly next to your home or outbuildings. <br />•Make sure basements are properly vented to avoid moist and humid environments that termites thrive in. <br />•Have any tree stumps removed from your property as they can become a source of termite infestations.
If you have seen what you believe to be termite swarmers at your home, it is highly recommend that you contact licensed termite control professionals as soon as possible.
Contact Detect Termite & Moisture to schedule an inspection with a licensed termite exterminator today.
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As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>
The Perfect House Team
Call or text us at: 757-335-6111
2019-04-15T14:01:00-07:002020-12-10T09:05:00-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:5660The Real Estate Agent You Choose MATTERS
Save your friends the hassle and nightmares from the aftermath of working with "whatever agent" they found on Google!
Tell them BEFOREHAND that the real estate agent you choose MATTERS... Because it absolutely DOES.
Buying or selling home is often the LARGEST financial transaction that you will deal with in your lifetime. THAT IS A HUGE PART OF YOUR LIFE, financially and emotionally. Don't settle for the first name you see on Google, the jingle on the radio, or the business card you pulled at the Chinese restaurant on your way out with your weekly crab rangoon order (we're not judging!)... We won't knock on those big marketing budgets, but we do want people to know that the biggest names don't always get there because they did the best job. It doesn't take great reviews to get a billboard, just a good sized check.
Look beyond that jingle and flashy website.
Whether you work with us, or you work with another agent, just know that it is true:
The real estate agent you choose MATTERS.
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As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>
The Perfect House Team
Call or text us at: 757-335-6111
2019-04-02T14:03:00-07:002020-12-10T09:06:38-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:63188 Major Home Inspection ComponentsHuge shout out to our friends over at BrickKicker Home Inspections & Detect Termite for this great writeup on the components of a home inspection. Often confused with a home appraisal (definitely not the same!!!) the home inspection is INCREDIBLY IMPORTANT. Find out why, below:
1. Grounds and Exterior. During an inspection, a professional should first examine the home exterior and overall condition of the property. Areas of interest include grading and drainage, evidence of standing water or leaks, the integrity of the foundation and siding, the condition of the exterior paint and landscaping, and any damage to the deck, garage, patio, stairs, or driveway.
2. Roof, Windows, and Doors. The exterior structural components of the home are some of the most expensive to repair or replace, so a home inspector should carefully evaluate the condition and expected lifespan of these elements. On the attic and roof, he’ll likely focus on the shingles, gutters, exterior vents, flashing, soffits, chimneys, and fascia boards. When inspecting windows and doors, he’ll search for decay and rot, cracks, improper installation, lack of caulking, and other damage.
3. Attic. The attic is often overlooked when a prospective buyer visits a home, but it can hold important clues to the overall structural integrity of the property. The examiner will make sure he doesn’t find poorly installed insulation, structural damage, improper ventilation, and exhaust or plumbing pipes that end in the vicinity.
4. Basement/Crawl Space. Moving to the opposite end of the house, the basement or crawl space is another component of the home inspection checklist. The inspector will look for moisture and evidence of pests, as well as foundational, structural, and insulation-related issues. If your house has a crawl space, the area will be inspected for similar problems.
<img alt="Inspection Circle 1" width="157" />
5. Interior Rooms. When it comes to interior rooms, you have to worry about more than choosing the perfect paint color, since these inner spaces can reveal critical structural issues. The inspection checklist should cover the floors, walls, ceilings, windows, interior doors, paint and trim, lights and switches, outlets, temperature control, insulation, and fireplaces.
6. Kitchens. The kitchen is often called the heart of the home, so it’s important to ensure every feature is in tip-top shape. Some aspects of the kitchen to scrutinize include the size and functionality of appliances, the exhaust fan, the drainage and water flow, the safety of outlets, and the condition of cabinets and drawers.
7. Bathrooms. Bathroom problems can be a pricey proposition to fix, so an inspector will want to carefully examine the following areas: toilet, exhaust fan, sink, tub and shower, tiles, caulking, flooring, and fixtures. What’s more, the water flow and water pressure should be properly scrutinized, and the inspector should note any issues with plumbing and leakage.
8. Major Systems, Electrical, and Plumbing. Any home inspection must include a thorough evaluation of the heating and cooling systems, as well as the plumbing and electrical work. The examiner should first indicate the age and expected lifespan of all components, then pay attention to certain areas of concern. For the HVAC system, this includes airflow, ventilation, filters, ductwork, the condition of flues, and the presence of rust, asbestos, or odor. In regards to electrical systems, the inspector will examine wiring, the main service panels, cables, fuses, and breakers. Finally, he’ll check the plumbing system for pipe damage or leaks, and ensure the water heater and pump are working properly.
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>2019-03-19T00:46:00-07:002020-11-24T02:06:39-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6319Spring Cleaning KITCHEN EDITION
We've got a huge THANK YOU to marketing department here at The Real Estate Group (TREG) for this great quick write up on everyone's FAVORITE topic.... Spring cleaning...!
When it comes to spring cleaning, there’s no room that needs it more than the kitchen. With so many drawers and places for things to hide, it’s easy for the kitchen to accumulate build-up. If you’re anything like me, when you start to factor in the high-use the kitchen gets, you panic and the next thing you know you’re wearing a hazmat suit. Don’t worry, though - I’ve done extensive research on this topic and have a strategy for you! Here’s how to really tackle the kitchen:
Don’t let the microwave intimidate you. Remember, you’re the boss and you can’t live your life with tomato sauce stains - this trick will make cleaning them that much easier. Place large microwave-safe bowl with 1 cup of water and a chopped-up lemon, lime, or orange or several tablespoons of vinegar inside. Turn the <a href="https://www.goodhousekeeping.com/home/cleaning/tips/a17694/spring-cleaning-microwave-grime/">appliance on high</a> for several minutes or until the solution boils and the window is steamy, then let it sit to cool for 15 minutes before opening the door. Remove and wipe out the inside and outside with a sponge. Now you’re back in charge!
Say bye-bye to stained cutting boards. If you think that mark is permanent, think again. Run the cut side of a lemon over the board to remove food stains and smells. For extra cleaning power, sprinkle it with salt or baking soda first.
Give your junk drawer a makeover. Empty it out and give the drawer a good wipe down. Items that are no longer needed or simply do not belong either get tossed in the trash or put away. Everything else goes back, but this time in an organized manner. Repurpose pretty plates and bowls to store cords, stamps, and other odds and ends. Added tip: lay down a nonslip liner to keep the plates and bowls in place so they don’t shift every time you open the drawer.
Get in the [pantry] zone. After you pull out everything in your pantry, toss anything expired, and dust every nook and cranny, put things back into zones. Dividing your pantry this way will keep you organized and make meal prep that much easier. Designate an area for each of your cooking categories (baking, dry goods, etc.), keeping the most used zone in easy reach. Finally, label each zone and enjoy the success of your hard work.
I hope some of these tips made a difference in your spring cleaning this year. If you are feeling inspired, please send a picture of your hard work. I know how much times goes into maintaining a home and checking off the spring cleaning tasks is no small feat - it should be celebrated!
<a href="http://s1125.photobucket.com/user/RealEstateGrp/media/western-tableware-picture-id873153622_zpsd0d0edb9.jpg.html" target="_blank"><img src="http://i1125.photobucket.com/albums/l584/RealEstateGrp/western-tableware-picture-id873153622_zpsd0d0edb9.jpg" alt=" photo western-tableware-picture-id873153622_zpsd0d0edb9.jpg" border="0" /></a>
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>2019-03-18T00:47:00-07:002020-11-24T01:48:26-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6320What Do You Mean, I Can't Trust Zillow???One of the biggest names out there can tell you some tall tales... and they have a MASSIVE marketing budget that means they seem like a really trustworthy place to get information.
And because Zillow lies, we make sure our clients know to make sure information is VERIFIED through the proper channels.
Take Donna Laurens' clients, recently. Living in a particular school district was a really important wicket for them to check off on buying their Perfect House. The home they were convinced was the perfect one for them had their specified school district listed as the one for that home in particular. Awesome, right? Except we (as agents) know that Zillow LIES. They may not "mean to" but they do! The information available on such a massive database is often outdated or pulled from incorrect sources. The ONLY way to trust what school district a home is in CURRENTLY is by going to the school district's actual webpage and searching the actual address. Thus, if you know where we are going with this story... the home they had fallen IN LOVE WITH... was truly NOT in the school district they wanted. Realizing this, they had a very hard choice to make. The Perfect House or the perfect school?
They went with the perfect school! So back to the MLS search they went, to find the true home of their dreams... and this time... made sure to verify that the homes they were looking at were TRULY in the school district they wanted.
If you are interested in what a school verification search looks like, see the Virginia Beach Schools site, here:
<a href="https://www2.vbschools.com/map_center/locate.asp">https://www2.vbschools.com/map_center/locate.asp</a>
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>
The Perfect House Team
2019-03-05T01:48:00-07:002020-11-24T01:49:26-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6321Will Your Current House Fit Your Needs In Retirement?Does retirement seem so far away? Or maybe not far enough? Do you wonder whether your forever home could really BE your FOREVER HOME? Here's a few thoughts to ponder on:
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As more and more baby boomers enter retirement age, the question of whether or not to sell their homes and move will become a hot topic. In today’s housing market climate, with low available inventory in the starter and trade-up home categories, it makes sense to evaluate your home’s ability to adapt to your needs in retirement.
According to the National Association of Exclusive Buyers Agents (NAEBA), there are <a href="http://naeba.org/type/retirement-living" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&q=http://naeba.org/type/retirement-living&source=gmail&ust=1532662073645000&usg=AFQjCNFRgiSF1gOg9W6iF0gcbTzBobOl_Q">7 factors</a> that you should consider when choosing your retirement home.1
1. Affordability
“It may be easy enough to afford your home today but think long-term about your monthly costs. Account for property taxes, insurance, HOA fees, utilities – all the things that will be due whether or not you have a mortgage on the property.”
Would moving to a complex with homeowner association (HOA) fees actually be cheaper than having to hire all the contractors you would need to maintain your home, lawn, etc.? Would your taxes go down significantly if you relocated? What is your monthly income going to be like in retirement?
2. Equity
“If you have equity in your current home, you may be able to apply it to the purchase of your next home. Maintaining a healthy amount of home equity gives you a source of emergency funds to tap, via a home equity loan or reverse mortgage.”
The equity you have in your current home may be enough to purchase your retirement home with little to no mortgage. Homeowners in the US gained an average of over $16,300 in equity last year.
3. Maintenance
“As we age, our tolerance for cleaning gutters, raking leaves and shoveling snow can go right out the window. A condominium with low-maintenance needs can be a literal lifesaver, if your health or physical abilities decline.”
As we mentioned earlier, would a condo with an HOA fee be worth the added peace of mind in knowing that you do not have to do the maintenance work yourself?
4. Security
“Elderly homeowners can be targets for scams or break-ins. Living in a home with security features, such as a manned gate house, resident-only access and a security system can bring peace of mind.”
As scary as that thought may be, any additional security and an extra set of eyes looking out for you always adds to peace of mind.
5. Pets
“Renting won’t do if the dog can’t come too! The companionship of pets can provide emotional and physical benefits.”
Evaluate all of your options when it comes to bringing your ‘furever’ friend with you to a new home. Will there be necessary additional deposits if you are renting or moving in to a condo? Is the backyard fenced in? How far are you from your favorite veterinarian?
6. Mobility
“No one wants to picture themselves in a wheelchair or a walker, but the home layout must be able to accommodate limited mobility.”
Sixty is the new 40, right? People are living longer and are more active in retirement, but that doesn’t mean that down the road you won’t need your home to be more accessible. Having to install handrails and make sure that your hallways and doorways are wide enough may be a good reason to look for a home that was built to accommodate these needs.
7. Convenience
“Is the new home close to the golf course, or to shopping and dining? Do you have amenities within easy walking distance? This can add to home value!”
How close are you to your children and grandchildren? Would relocating to a new area make visits with family easier or more frequent? Beyond being close to your favorite stores and restaurants, there are a lot of factors to consider.
Bottom Line
When it comes to your forever home, evaluating your current house for its ability to adapt with you as you age can be the first step to guaranteeing your comfort in retirement.
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Is your current home your FOREVER HOME? Or do you think you might consider a change? If you have any questions (which most people do- this is a daunting time to consider!), please reach out to us, whether by phone, email or direct message to our page. We are always willing to help, even if it's JUST to discuss your options. Please always feel free to reach out!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>
2019-02-10T01:49:00-07:002020-11-24T02:06:50-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6322Mortgage Matters: Down-Payment Options May Make Homeownership A Reality
By <a href="https://pilotonline.com/life/article_de8a8a18-329b-53c0-9479-52ddb97f5c2d.html">Steve Rockefeller </a>
The most recent National Association of Realtors profile shows that 40 percent of repeat buyers and 66 percent of first-time homebuyers are putting less than 10 percent down. Understanding all of your low-down-payment mortgage options may aid you in obtaining a mortgage while helping to save money.
Different types of mortgages can be tailored to purchase a home. If you’re looking to use a conventional loan and you made a down payment of less than 20 percent of the home’s value, you’re probably going to need mortgage insurance, commonly known as PMI. If using, for example, a government FHA loan, you’re going to need mortgage insurance, known as MIP. Confusing I know.
With the lowest of the down payment, PMI or MIP is always required. Those insurances are the lenders protection in the event of default. Let’s take a look at the differences.
FHA MIP: Many people think FHA or The Federal Housing Administration provides a service that is markedly different than the service private mortgage insurers provide. The reality is both FHA and PMI insurers provide the same service, with some key differences. FHA MIP does cost 1.75 percent of the total home value right away with an additional .85 percent paid on a monthly basis. Over the life of the loan this can result in thousands paid to insure your loan. FHA loan with MIP can never be terminated.
Conventional PMI: Allows a borrower to put less money down, as little as 3 percent down, whereas FHA requires a 3.5 percent down payment. The bonus is your ability, in most cases, to use gift funds from a relative for the down payment. PMI may be tax deductible whereas MIP is not. Does your credit score matter on a conventional loan? Yes. PMI premiums are adjusted based on your credit score. FHA MIP is the same no matter the score.
WHAT MORTGAGE INSURANCE IS NOT:
It’s not life insurance or credit disability insurance or job loss insurance. Don’t want to keep paying your mortgage insurance fees? Your loan documents can state automatic termination of PMI when you pay 78 percent of the original value. With an FHA loan you’ll have to continue paying MIP for the life of the loan. Those monthly premiums can cost you and may be an important aspect to consider when you choose between a conventional loan with PMI and a government loan with MIP.
As a generic contrast, PMI vs. MIP can save you thousands over the life of the loan. By adding a little each month to the principal balance of your loan, you can achieve the 78 percent termination ratio much faster, thus allowing for the elimination of the fee. If you’re looking to save the cost of PMI and don’t have a 20 percent down payment, consider LPMI or lender paid mortgage insurance. LPMI is a measure in place where the lender can raise your interest rate to cover the cost of the PMI. In most cases the payments are lower than those with a lower rate and with PMI.
Rely on your licensed lending professional to provide the best guidance possible.
Steve Rockefeller, NMLS ID 659493, is a 24-year-mortgage lending professional. He is a past president of the Tidewater Mortgage Bankers and the Virginia Mortgage Bankers associations. Rockefeller can be reached at 757-301-9776 or <a href="mailto:steve@mloans.com">steve@mloans.com</a>. This column is relative to the mortgage industry and the opinion of Rockefeller and does not reflect the opinion of George Mason Mortgage LLC.
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2019-02-07T01:50:00-07:002020-11-24T01:51:34-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:63236 Fantastic Tips For Your Garage/Yard SaleYou've probably thought about these things before, but we'll pull them all together in this quick list for you.
Spring is right around the corner, so if you're planning on having one, now's the time to start planning!
<address>So here goes...</address>
6 FANTASTIC TIPS For Your Garage/Yard Sale:
1.) Make sure ALL of your signs LOOK the same! Obviously, the arrow may change, but if a prospective shopper is driving around your neighborhood LOOKING to find your house, they are subliminally looking for the SAME sign--- thus one is neon, make them all neon. If you put a balloon on one, put a balloon on ALL of them. That way, as they are driving through a neighborhood and trying to find the "next" sign marker, your next sign will stick out to them. Remember... the GOAL is to get them to your driveway, so do as much as you can to help them get there!
2.) Put a START and END time: By the end of the morning, when people see signage, they are often thinking that you are probably all wrapped up at that point, especially if you wrote a start time of, say, 7am. By 11am when parents are driving back from soccer practice, they likely assume your signs are out but you aren't, thus they are less likely to come looking for you unless you put an end time. The good news is, if you write "8am-1pm", if you DO decide to close up shop, earlier, just go out and snag your signs (for proper disposal, more on that later). No signs, no directions to your house, no worries!
3.) REALLY CONSIDER YOUR PRICING: People are there for a deal. It is very unlikely that a $100 baby swing will sell, in your driveway, for $75. Did you get $50 of use out of it? Maybe even the full $100? Price it WELL BELOW what people may "consider" paying. If they don't like the price as soon as they see it, they are very unlikely to come back "after thinking about it". There are too many apps and online opportunities to buy things second-hand. If they are in your driveway, you want them to buy your stuff. Price accordingly! $50 in your hand is better than $0 hoping someone was going to pay $25.
4.) Keep the JUNK to a MINIMUM: Yeah, maybe you have a special collection of teacups that were "all the rage" back in the day, or thimbles from your great aunt who passed away a few years back, you never know who may have been looking for those things. But when it comes to random unmarked, mismatched coffee mugs, a single glass leftover from a set that otherwise broke, a measuring set with only 3 of the 5 from the set... You get the picture. Some thing are just clutter that adds to the overwhelming appearance of JUNK at a home-sale as it is. If you're set on putting those things out, you can put them on a separate table with a similar price for it all "$1/each, 6 for $5" etc. But definitely do NOT let these items infiltrate the rest of your sale tables, if you can help it!
5.) PLAN, PLAN, PLAN... and consider the questions! This sounds obvious, but you can forget how much there NEEDS to be done until the morning of. You should have sorted items, planned out what tables will hold what, and whether you need blankets (and what time of the year it is, if you should use tarps instead if the grass is damp?). Are you using stickers or a pricing gun? Are you willing to deliver larger items if someone pays there at your driveway, first? Would you be willing to hold an item (if they paid) for them to later come back? Do you have "ENOUGH" change (you will need QUITE A BIT in case someone breaks your bank in the first sale or two- think of getting $20 and they only bought a $1 item). Ask one of your neighbors to come buy and glance over your stuff to see if there's anything they would ask if they were the buyer or otherwise if they can think of anything you may have forgotten.
6.) Schedule a Goodwill/Salvation Army (etc) pick up for the same day: That way you aren't sitting on all that stuff you KNEW you wanted to be rid of--- you already KNOW their chariot will be arrive to whisk them away at x-pm!
(BONUS TIP:) REMOVE ALL SIGNAGE WHEN YOU ARE DONE: But what does that have to do with having a successful sale? First off, besides being the RIGHT THING to do, it will keep people from later coming up to your house... in particular, annoyed neighbors who have seen your signs half-hanging for the past week or 6, littering your neighborhood!
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Thoughts? Questions? Comments?
Reach out to us... we'd love to hear from you! :)
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2019-02-05T01:51:00-07:002020-11-24T02:11:21-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6324How To Protect Your Home DeliveriesTis' the season for porch deliveries... and thieves!
Thank you to our friends at <a href="https://www.vectorsecurity.com/how-to-protect-your-home-deliveries?utm_source=constantcontact&utm_medium=email&utm_campaign=homeblogupdates-C">VECTOR</a> for this fantastic write up on tips to protect your home deliveries.
<img class="img-responsive" src="https://www.vectorsecurity.com/userfiles/images/blog/packages-on-front-doorstep-lrg.jpg" alt="How to Protect Your Home Deliveries" />
Packages and deliveries are often left during the day while homeowners are out. These easy snags are almost too good to be true for thieves.
Below are tips to protect your package from being taken from your doorstep.
Give Extra Instructions
Specify delivery instructions when you place your order to prevent your package from being left alone.
Send your package to a friend, your workplace or a <a href="https://www.ups.com/us/en/services/e-commerce/access-point-shipping.page?&WT.srch=1&WT.mc_id=ds_gclid:CJmChcqpxdUCFWKNMgodGT0BNA:dscid:71700000020424224:searchterm:ups+access+point&gclid=CJmChcqpxdUCFWKNMgodGT0BNA&gclsrc=ds" target="_blank">UPS access point</a> for safe keeping until you can bring it home.
Require a signature for an item to be delivered. This way you can ensure your package won’t be left alone.
Add a comment for special delivery instructions, such as “please leave the package behind the planter.”
Monitor Packages on the Fly
Use tracking numbers and <a href="https://www.vectorsecurity.com/home-technologies">smart home security monitoring</a> to protect your packages.
Ask a neighbor to grab your package when you receive a notification or email that an order is at your door.
Utilize <a href="https://www.vectorsecurity.com/blog/3-smart-lock-benefits-convenience-security-and-connectivity">smart locks</a> to unlock your home and allow a neighbor to put the package in your house. You can then lock the doors behind them. This will keep your house secure and your packages safe inside.
<a href="https://www.vectorsecurity.com/smartdoorbell">Smart doorbells</a> are a great tool for both watching and communicating. See who delivered your package on camera and ask through the speaker system if they can place the delivery in a specific location. (Pro tip: Ensure motion-activated alerts are turned on during expected delivery days, just in case they knock.)
Monitor packages with <a href="https://www.vectorsecurity.com/home-video-surveillance">video surveillance</a> if you can’t get the package off your doorstep. Cameras may deter thieves, and you have peace of mind knowing you can keep an eye on your new delivery and capture evidence should a thief strike.
Was Your Package Stolen?
If your preventative measures don’t stop a determined thief, report theft to local police and the <a href="https://postalinspectors.uspis.gov/" target="_blank">U.S. Postal Inspection Service</a>. If your package is insured, you should have no problem getting a free replacement or refund for your stolen package. Otherwise, file a complaint with your shipping company and begin a claims process.
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Have you had any issues with porch deliveries? Let us know in the comments below!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
The Perfect House Team
2019-01-12T01:53:00-07:002020-11-24T01:54:38-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6325Hiring An Agent To Sell Your House May Cost You NOTHING! Wait. That has to be a typo, right?
Ha. No, it's not! As usual, our friend over at <a href="https://www.keepingcurrentmatters.com/2017/10/19/hiring-an-agent-to-sell-your-house-may-cost-you-nothing/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost">Keeping Current Matters</a> came up with an excellent piece on this reality that so many aren't even aware of. Read more, then let us know what you think!
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There is no doubt that it is easier to sell your house when using the services of a local real estate professional. The agent will provide:
Greater exposure to more buyers
The skills of a professional negotiator
A layer of protection from possible legal liabilities
Professional guidance in navigating any pitfalls that may arise
A level of safety while showing the home
There is no doubt that these services are valuable to any family that decides to sell. The only question is – how valuable? One of the main reasons For Sale By Owners(FSBOs) don’t use a real estate agent is because they believe these services are not worth the fee an agent charges. But, what if those services didn’t cost the seller a penny?
A <a href="http://collateralanalytics.com/wp-content/uploads/2017/08/CA-RESEARCH-Saving-Real-Estate-Commissions-at-Any-Price.pdf">study</a> by Collateral Analytics, however, reveals that FSBOs don’t actually save anything and, in some cases, may be costing themselves more by not listing with an agent.
In the study, they analyzed home sales in a variety of markets in 2016 and the first half of 2017. The data showed that:
“FSBOs tend to sell for lower prices than comparable home sales, and in many cases below the average differential represented by the prevailing commission rate.” (emphasis added)
Why would FSBOs net less money on their own than if they used an agent?
The study makes several suggestions:
“There could be systematic bias on the buyer side as well. FSBO sales might attract more strategic buyers than MLS sales, particularly buyers who rationalize lower-priced bids on with the logic that the seller is “saving” a traditional commission. Such buyers might specifically search for and target sellers who are not getting representational assistance from agents.” In other words, ‘bargain lookers’ might shop FSBOs more often.
“Experienced agents are experts at ‘staging’ homes for sale” which could bring more money for the home.
“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. And those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.” If more buyers see a home, the greater the chances are that there could be a bidding war for the property.
Three conclusions from the study:
FSBOs achieve prices significantly lower than those from similar properties sold by Realtors using the MLS.
The differential in selling prices for FSBOs when compared to MLS sales of similar properties is about 5.5%.
The sales in 2017 suggest the average price was near 6% lower for FSBO sales of similar properties.
Bottom Line
If you are thinking of selling, FSBOing may end up costing you money instead of saving you money.
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Wow, right....? Have you thought of doing a FSBO? Let us know whatever questions you have, and we're more than willing to help!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>. 2019-01-11T01:55:00-07:002020-11-24T02:07:00-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:63266 Ideas for Making Senior Living Feel Like HomeDo you or someone you know have a change in lifestyle looming on the horizon? It's a huge step, but one that can come with some ease if you may be willing to try a few of these great tips from 55Living:
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We can all agree that change is hard. Even when we’re making a change for the better – such as moving to a carefree senior living community – nervousness, sadness about leaving your old home, and feeling out of place can make it difficult to transition smoothly into your new lifestyle. However, with a bit of perseverance and a positive attitude, you can start to feel at home in your senior living community in no time.
TRANSITIONING FROM ONE HOME TO ANOTHER
By the time we reach retirement age, most of us have lived in the same house for years. Many have raised our children in that home and have a lifetime of memories connected to it. You may wonder how your new residence at a senior living community can ever feel like home compared to that. To be honest, the two can’t compare. Your new community marks a completely new phase of your life, and while your new cottage, suite, or apartment can never replace your family home, it can be the starting point for a whole new chapter.
Here are some ideas to try for making your senior living community feel more like home:
Focus on Positivity – Even though you’ve made the choice to move to a senior living community, there are sure to be some things you’re nervous about. While this is normal, try to lessen your stress by focusing on the positive aspects of your move. Start looking into the programs and amenities you’ll be able to take part in. Plan a housewarming party to get to know new neighbors. Think about how you’ll decorate your new space.<br /><br />Then, once you’ve moved in, start referring to the community as “home.” You’ll be surprised how this subtle shift can affect how you perceive your community.
Decorate with Meaning – Make your senior living apartment, house or suite feel like home by decorating it to reflect your personal style and tastes. Display familiar items from your old house, such as a favorite painting, throw pillows and blankets, books or small keepsakes. Many senior living communities encourage residents to bring their own pieces of furniture as well. If you have a favorite armchair or small dining set, bring those along for extra comfort and familiarity.
Utilize Storage Space – For some of us, downsizing can be a difficult process. You may have trouble discarding beloved items that simply won’t fit into your new home. To help ease the burden of leaving special items behind, ask a family member to help store some things for you, or rent a storage unit close to your community. This way, you can switch out seasonal items or redecorate later on and avoid the sadness of parting with cherished possessions.
Ask for Support – If the thought of moving to your new community makes you feel nervous or lonely, ask a close friend or family member to help you move. Not only will an extra person help the physical move go smoothly, but their presence can provide you emotional support, too. Invite a positive person who will be excited to explore your community with you and help you set up your apartment. They’re excitement will rub off on you and help ease your concerns.
Get Involved – Stay connected with your community’s social, entertainment and educational programming and try out clubs that interest you and attend special events. Don’t feel like you have to try everything available, but take the opportunity as a new resident to learn as much as you can about the activities that go on at your community. Try new things, or search for events that suit your current interests. The more you explore, the more people you’ll meet and the more opportunities you’ll discover.
Be Patient – Most importantly, be patient as you adjust to your new home. It’s perfectly normal to feel out-of-place or reluctant right after a big move. Even long after you move in to your community, you may feel homesick for your old house or routines. That’s okay. During those times, try to connect to the parts of your life that make you feel most comfortable. Go for a walk at your favorite park or invite over good friends. Trust that home is where you make it.
MAKING HOME ONE DAY AT A TIME
While it’s normal to feel uncertain about the newest chapter of your retirement, don’t let nerves hold you back from making the most out of your community lifestyle. Senior living can allow for so many opportunities for friendships and purpose that you may never experience otherwise. Try to focus each day on making your community feel like home.
If you would like to know more about life at a senior living community, as well as great ways to adjust to a community lifestyle, keep up with our blogs and reach out to those you know who have made the move.
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Thanks so much to <a href="http://www.55living.com/blog/author/david-l-reibstein/">David L Reibstein</a> of 55Living for this great write up!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>. 2019-01-08T01:56:00-07:002020-11-24T01:57:46-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6328Collection vs Clutter Everyone seems to have an interest in something.
This often leads to collecting, a past time of what seems like generations past, but is actually still prevalent!
But is what you are keeping a collection, or just keeping some clutter?
Marie Kondo, a #1 New York Times best-selling author of both Spark Joy and The Life-Changing Magic of Tidying Up , approaches whether or not items give you joy, in deciding whether to keep them or send them on to another place in their life.
Some items in your home may truly bring you joy; others, you may have forgotten the reason of why you have them in your home.
Some may have been gifts you accepted on a memorable holiday, others may be something that was passed down by someone else who had a hard time emotionally getting rid of it, so they pass on to someone as a way of easing that transition of ridding their own home of clutter. For more insight on the latter, Annie Traurig of Live Simply, writes an excellent piece on releasing items we feel guilt in removing from our home, <a href="http://www.livesimplybyannie.com/decluttering-gifts/">Difficult Decluttering: But It Was A Gift</a>. In it, she offers, "Giving away the gift is in the case the best way to honor whoever gave you the present." What a way to look at it....!
Is it time to declutter, and pass the love on?
Do you have things you want to find a new place for?
Ditch the guilt and the clutter by knowing your items may find a special spot in someone else's home. The following websites can be a starting point to find a new home for clutter in your life:
<a href="http://www.satruck.org">Salvation Army</a>
<a href="http://www.habitat.org">Habitat For Humanity (ReStores)</a>
<a href="http://www.goodwill.org/donate-and-shop/donate-stuff/">Goodwill</a>
<a href="http://donationtown.org/news/donate-household-items.html">Donation Town</a> (If you have items to donate but not sure where to start!)
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So what do you think? Do you have a collection... or clutter?
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
The Perfect House Team
2019-01-06T01:59:00-07:002020-11-24T02:00:35-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6327A Tug of War in the Economy of Home Loans
"It's a tug of war, we expected more"... Tug of War, Paul McCartney<br />
<img id="m_-9025844998803147759chart-1" alt="" align="middle" hspace="15" />
Home loan rates bounced around this week, due to volatility in the U.S. Bond market, but went into the weekend still near three-month lows.<br /><br />There are push/pull items that continue to limit how low and high rates can go. Here is what home shoppers should know:<br /><br />Factors currently limiting how low rates can go:<br />
Tight U.S. labor market.
Rising wages, fastest pace in a decade.
Soaring business and consumer confidence.
Solid economic growth.
Tough technical barriers.
Factors currently limiting how high rates can go:
Slowing economic conditions around the globe.
Low global bond yields – German 10-year Bund yield is 0.28% and the U.S. 10-year Note yield is 2.90%. If yields stay low in other parts of globe, there is a limit as to how high long-term rates can go.
Disinflation or slowdown in the rate of inflation around globe, including the U.S.
A split Congress that likely ensures no real fiscal stimulus in the near future.
Pace of Fed rates hikes are slowing due to all of the above.
<br />Bottom line, we are in a very unique economy where we have strong growth, a tight labor market, low inflation and low rates...all making a great backdrop to buy a home.<br /><br />----
As always, thank you to Patrick Steele for sending us this great bit of info. We hope ya'll enjoyed it as much as we did!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-12-17T01:58:00-07:002020-11-24T02:07:14-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6329Mortgage Rates Deeper into 2 Month Lows as Stocks Swoon We always love when great information lands in our inbox, that we can in turn share with our community here on the blog. Thank you so much to Patrick Steele, one of our trusted "mortgage dudes" for sending this one our way! :)
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<a href="http://www.mortgagenewsdaily.com/mortgage_rates/" data-saferedirecturl="https://www.google.com/url?q=http://www.mortgagenewsdaily.com/mortgage_rates/&source=gmail&ust=1545106364017000&usg=AFQjCNGnxxo40fOI3giAesHbZI_esgF1vA">Mortgage rates</a> technically hit their lowest levels in exactly 2 months yesterday. Today merely takes them deeper into that territory. The size of the improvement is less impressive and less meaningful compared to that "lowest in more than 2 months" talking point. That said, taken in conjunction with the last 4 business days, the average lender is roughly an eighth of a percentage point lower. That comes out to $7/mo for every $100k financed (or $21/mo on a $300k loan).
On a somewhat frustrating note, mortgage rates didn't experience nearly as big of a move as the broader bond market. For instance, 10yr Treasuries--the most widely-used benchmark for longer-term interest rates) dropped 0.05% today. Mortgages only managed to drop by 0.02% in terms of effective rates.
The bigger improvement in Treasuries is a multifaceted issue, but was due in large part to big losses in stocks. Both sides of the market are closed tomorrow for a day of mourning in honor of the late George H.W. Bush. This results in a concentrated dose of economic data on Thursday and Friday. If it's weaker than expected, rates could easily continue lower, but if it surprises to the upside, the bounce back in rates could be somewhat abrupt.
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Thanks again to Patrick for sending this to us, and a huge shout out to <a href="http://www.mortgagenewsdaily.com/" data-saferedirecturl="https://www.google.com/url?q=http://www.mortgagenewsdaily.com&source=gmail&ust=1545106364000000&usg=AFQjCNEbb-2QIYCQp-Log3xOQEeerZ_IIA">www.mortgagenewsdaily.com</a> for putting this together!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-12-09T02:01:00-07:002020-11-24T02:03:16-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6330Mortgage Rates Lowest Since September After Jobs ReportWe love it when our mortgage guys send us great info. Check out the latest info from Patrick Steele!
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<a href="http://www.mortgagenewsdaily.com/mortgage_rates/" data-saferedirecturl="https://www.google.com/url?q=http://www.mortgagenewsdaily.com/mortgage_rates/&source=gmail&ust=1545106364000000&usg=AFQjCNELLwylCTy-8_eknSOEE2Xa4lLPMQ">Mortgage rates</a> held on to their recent improvements today after the important Employment Situation (the big "jobs report") showed November job creation was lower than expected. In general, weaker job creation is good for interest rates because it speaks to slower economic growth and inflation (both of which are enemies of rates). This report was particularly important because a strong result would have cast doubt on several speeches from members of the Federal Reserve. Those speeches have warned about slower economic growth in 2019 and the potential for fewer rate hikes than previously anticipated.
There were no clear winners or losers at first--probably because job creation is still historically solid.
Additionally, the unemployment rate remained ultra low, and wage growth remained above 3.0% on an annual basis. Markets were indecisive at first, but stocks and bond yields eventually began to move lower. Multiple mortgage lenders offered small improvements on rate sheets in the afternoon, after the bond market gained enough ground.
Today's mortgage rates are the lowest in months and current trends are about as strong as they've been in more than a year.
6 Month 10YR Treasury Chart below supports mortgage rates trending at near 6 month lows this past week.
<img src="https://mail.google.com/mail/u/2?ui=2&ik=78713dc060&attid=0.0.8&permmsgid=msg-f:1619301634337507843&th=1678ea41cae58a03&view=fimg&sz=s0-l75-ft&attbid=ANGjdJ9riNNoSTcLjuP8DE9M-GijcoaLFN3HFN-xZZQCIfFWB0K-AsjM-7cTZxZTYLGDAqs43kDAqB0CEETXZluTx8V1dgICR8E1scqe5bJaGkY8vdnqwe5HAGY5v4w&disp=emb" alt="" />
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Thanks again to Patrick for sending this to us, and a huge shout out to <a href="http://www.mortgagenewsdaily.com/" data-saferedirecturl="https://www.google.com/url?q=http://www.mortgagenewsdaily.com&source=gmail&ust=1545106364000000&usg=AFQjCNEbb-2QIYCQp-Log3xOQEeerZ_IIA">www.mortgagenewsdaily.com</a> for putting this together!
PATRICK STEELE
Branch Manager/Senior Loan Officer
NMLS ID 675001 • VA: MLO-22443VA • NC: I-172480
Tidewater Mortgage Services, Inc.
NMLS ID 71158
o: 757-690-8046 c: 757-287-9082 f: 757-605-4236
a:
200 Golden Oak Court, Suite 100 • Virginia Beach, VA 23452
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-12-07T02:03:00-07:002020-11-24T02:07:28-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6331Buying a Home With a Seller's MindIt is highly likely that the home you currently own (or will buy some day) won't be your forever-home. Families change, from size to dynamics, jobs change from pay to location. Needs change from large yards to extra bedrooms. Thus it is a wise thing to consider... What is important to the NEXT person who buys that home (from you!) may be different from what was important to you (and your family).
Are you buying a FOREVER home... or a FOR NOW home? Most of us buy a FOR NOW home... which means you DEFINITELY need to put on a seller's cap at some point- why not try it on, now?
Here's a few just to get the thought process started:
1.) You: Schools really aren't that important to us (we don't have kids/aren't planning on having kids/ we plan on home schooling/ have already decided on a nearby private school).
The next buyer for your home is likely to consider the local school as part of whether or not they are interested in your area. While homeschooling is on the rise, it doesn't work for all families, and some families will prefer a local public school over paying for private. Thus while you may not find the local school important, the ones you sell your home to may!
2.) You: I don't really care that there's a Home Owners Association. It's just the price you pay to live in a nice neighborhood.
Some Home Owner Associations (HOAs) are pretty on par- they keep the lawns neat, the amenities up to par and are otherwise perfectly fine to deal with as a homeowner. But not all HOAs are the same! Make sure you actually read the documents that you will receive in the first weeks of signing the purchase contract--- if the HOA rules don't seem to match up with the actual property in person, that's a red flag! Stop in at their office and see what the customer service is like, maybe even ask (with an open mind) someone you see in the neighborhood. Though, you must remember- some people do just love to complain, so you should take personal references with a grain of salt. But you may very well come across someone who has a level head that can tell you the pros and the cons of their HOA.
3.) You: As long as my mortgage payment is affordable to my budget, I'm happy.
Oh boy, how misleading this thought process can be! There's so much more to it, but your mortgage payment isn't promised to be the same from you to your next buyer, even if you sell the house at the same exact price. So many things vary, from your credit score to theirs, to the price of your home owners insurance policy to theirs and the city taxes (which definitely fluctuate!) help to form the actual cost of your loan.
4.) This house was such a great deal that I'm really not concerned about the actual neighborhood.
<br />Your concerns about the safety of your neighborhood may be quite different from the people who look to buy your home, next. We will keep this one short--- but please be sure to do your due diligence to find out about police reports and criminal activity from the website of the city in which the home is!
5.) Those strange neighbors will probably move before we ever have to sell.
But what if they don't? And you're hard pressed to find people just as open-minded as you to come move in next door to them? We'll keep this one short... you get the point!
Now, now... we don't tell you these things to stress you out! Remember, YOU ARE BUYING THE HOME... so of course it should be something you enjoy and meets all of your NEEDS and at least a good portion of your WANTS. But we definitely "keep it real" here at The Perfect House Team--- so we want to keep this type of stuff in the forefront of your mind, as it's something we talk with ALL of our clients about!
What are your thoughts on this? Let us know!
<br />As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-11-26T02:04:00-07:002020-11-24T02:05:35-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6332Mortgage Matters: Is An Approval.... An Approval?
Mortgage Matters: Is an approval an approval?
<a href="https://pilotonline.com/life/home/article_60e7b3dc-ed09-5cbf-b3bb-ed48ce5bd69b.html">By Steve Rockefeller </a>
Historically low mortgage interest rates have continued to spur home sales in Hampton Roads. If you’ve been thinking about buying a new house, or perhaps your first house, this may be the time to commit and jump into the marketplace. The key, however, is gaining loan approval.
Just when you thought the “F” word was a four letter word, when applying for a mortgage loan it is a five-letter word spelling “FRAUD.” Because of the sins of the housing industry’s past, along with what appears to be a constant mountain of foreclosures, every lender in the nation at every level of their company is charged today with preventing mortgage fraud. If you are a previous homebuyer, a few years back you basically went into the lenders’ office and breathed on a mirror. If it fogged, your loan was approved.
Being facetious here, however, the reality was your credit score was the primary driver to gaining a loan approval. Make no mistake, this article is not meant to scare you; however, I am here to tell you, with the new documentation standards, the mortgage industry has reverted to the lending standards where full file documentation prevails.
For those of us who remember back then, there were no credit scores, simply obtaining a credit report took three to five business days, and people actually came in with their documentation. The Hampton Roads area is an unusual market. Because of this area’s high military population, we have a higher concentration of veteran borrowers. Those loans require greater documentation for approval.
Today’s selling environment is far more complicated than in the recent past. Due to past market values declining, in many cases the sales contract is negotiated between the buyer, seller and so often the seller’s lender, as a short sale. A short sale is when there’s a disparity between the loan balance and sales price and or market value. The seller does not have the balance of funds, hence the short sale where the lender forgives the remaining balance as a means to settling the sale.
So, are you ready financially to buy a house? Where should you start? Do you know your credit score? Do you know which of the three scores the lender uses in decisioning the loan? Are you employed full time or are you working 40 hours in the same line of work or for a temporary service without benefits? Do you have a weekend side business? And so begins the lender delving into your finances.
Here’s a quick checklist that can aid in moving you toward the right decision:
• Do you have a steady “FULL TIME” source of income?
• Have you been employed on a regular basis for the last two to three years?
• Is your current income reliable?
• Do you have a good credit history?
• Do you have few outstanding long-term debts, such as car payments?
• Do you have any money saved for a down payment?
• Are you separated or divorced? Do you have joint debts that are still part of your credit history?
If you can answer “yes” to most of the questions, you’re off to a great start to qualify for a mortgage. The next step is to determine how much of a loan you can afford. Here’s when you need to talk to a mortgage lender and determine which home loan program is best for your situation. The loans for those with blemished credit are a thing of the past. While there are a few lenders out there who claim to have those specialized loan products, the reality is they are making an attempt at providing a credit repair service.
Charlie Laurens, managing broker of the Perfecthouse Team, said that the clients who have attempted today’s version of a blemished credit loan usually end up an emotional wreck after 45 to 60 days if not approved.
A word of caution: Pre-qualification is a more informal way to see how much you may be able to borrow but does not guarantee loan approval. You can be “pre-qualified” over the phone with no paperwork by telling a lender your income, your long-term debts and how large a down payment, if any, you can afford. Loan approval is a lender’s actual commitment to lend to you once everything is verified.
Have I scared you yet? What can you do to ensure a successful loan approval?
Gather your last two years of tax returns, including federal pages and schedules.
If retired with a pension or Social Security, your annual retirement statement.
Two months’ bank and investment statements, all pages. Your statement will reflect pages one of whatever. Even if the last page is blank, it is still considered part of the statement.
If separated or divorced, the lender will need a full copy of your separation agreement or divorce decree and any supplemental statements.
Are there any out of the ordinary deductions taken out of your paycheck or Leave and Earnings statement? If so, complete documentation is required.
Are there any out of the ordinary deposits on your banking or investment statements? If so, be prepared to document the reasoning.
Your credit, is there anything the lender will uncover? Believe me, they will uncover everything.
Now you might finally be ready for loan processing; however, be ready for your own personal foundation earthquake. Immediately upon submitting your application, the lender will undoubtedly order a transcript of your most recent tax returns from the Internal Revenue Service. What I can tell you is that by today’s underwriting standards, I have seen many loans not immediately approved because of variances between what was filed and what was submitted at application.
As your loan process moves forward, you may also want to consider locking your interest rate on the loan. By locking in the rate, you can ensure that the good deal you spent time finding is what you get. A lock is an agreement between the borrower and the lender that specifies the number of days for which a loan’s interest rate and points are guaranteed. If mortgage interest rates rise during that period, the lender must honor the committed rate.
<br />Steve Rockefeller, NMLS ID 659493, is a 24-year-mortgage lending professional. He is a past president of the Tidewater Mortgage Bankers and the Virginia Mortgage Bankers associations. Rockefeller can be reached at 757-301-9776 or <a href="mailto:steve@mloans.com">steve@mloans.com</a>. This column is relative to the mortgage industry and the opinion of Rockefeller and does not reflect the opinion of George Mason Mortgage LLC.
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As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-11-24T02:08:00-07:002020-11-24T02:10:37-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6333The Cost Of Waiting To Buy....A few quick notes:
Interest rates are projected to increase steadily heading into 2019.
The higher your interest rate, the more money you end up paying for your home and the higher your monthly payment will be.
Rates are still low right now. Don’t wait until rates hit 5% to start searching for your dream home!
Got questions on that? Be sure to reach out to one of our premier lenders, <a href="https://www.perfecthouse.com/patrick-steele.php">Patrick Steele of Tidewater Mortgage</a>, or <a href="https://www.perfecthouse.com/steve-rockefeller.php">Steve Rockefeller of George Mason Mortgage</a>. Both are incredibly knowledgeable on everything you could want to know about the mortgage process and are willing to help out with any questions you may have.
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Thank you to <a href="https://www.keepingcurrentmatters.com/2018/03/13/you-can-save-for-a-down-payment-faster-than-you-think-2/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost">KCM</a> for a great writeup!
Got questions? We've got answers! Hit us up in the comments below, or call/text us at 757-335-6111!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-11-22T04:10:00-07:002020-11-24T04:11:24-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6334The Cost of Selling Without a Real Estate AgentDo you think that FSBO, or "For Sale By Owner" sounds easy?
Or even if it's just a bit of work on your end as the seller, it will TOTALLY be worth the money you save.... right?
Not so fast... check out this honest writeup from the <a href="https://magazine.realtor/daily-news/2018/07/16/the-cost-of-selling-without-a-real-estate-agent?om_rid=AAbnUQ&om_mid=_BbWihGB9qrkBze&om_ntype=NARWeekly">National Association of Realtors</a>:
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You’ve heard of buyer’s remorse; but without your market expertise and sales skills to back them up, sellers who choose to sell their home on their own just may experience “seller’s regret” when they see how much less they get for their properties. Some may want to avoid paying an agent's commission—but even factoring that in, FSBOs still stand to make less on their home sale. “Talk to an agent and find out what they suggest for the commission, and then do the math yourself,” researchers write on NAR’s Economists’ Outlook blog. “The closing price for the agent-assisted seller is likely going to be way above a FSBO. [But] in reality, homes sold by the owner make less money overall.”
Homeowners seem to be hearing the message: Only 8 percent of sellers last year—an all-time low—chose to sell their home themselves, according to NAR’s 2017 Profile of Home Buyers and Sellers. That figure has been falling since 2004, when 14 percent of homeowners sold their own homes.
Of the share of FSBOs last year, 38 percent of the homes were sold to a buyer that the seller knew, such as a friend, neighbor, or family member. The majority of FSBO transactions, however, were sold to buyers the owner did not know.
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We know you MUST have some thoughts on this--- let us know what you think!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>...!
2018-10-28T03:11:00-07:002020-11-24T04:12:39-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6335The Rise of the Cash Buyer: Should You Try to Purchase a Home with Cash?
All Cash Offers are on the rise nationwide according to a recent Washington Post Article.
As All Cash offers become more common here in Hampton Roads you may be wondering, Is a Cash Offer Better for a Seller in Today's Market Conditions? We will address this from both Buyer and Seller positions. Today lets take a look at the buyer's side of the transaction.
Cash Buyer Considerations:
Pro: A faster closing and move in may be possible since underwriting a loan is not needed.
Pro: Under the right conditions a cash offer may motivate a seller to accept less for a home.
Pro: Paying cash may broaden the choices for available homes since mortgage condition guidelines will not be a factor.
Con: Be Sure your finds are liquid or disclose any third party approval of involvement in funding when tendering a cash offer.
Con: Don't pay too much, have your Realtor protect you by making the purchase agreement subject to a professional appraisal.
Con: Condition issues that affect value or marketability. Work with a Realtor that understands conforming mortgage condition guidelines in order to know what repairs to ask for since a lender will not be involved and this safety net is not in place.
Con: Consider having such a large amount of your liquid assets tied up in static equity. Consult a certified financial adviser to calculate how does this fit into your overall financial plan and the risk vs. reward of investing a percentage of the cash. Remember later you will have to qualify and even pay interest to use your own money when it is all tied up in equity.
It Always Pays to interview more than one Realtor to compare experience and knowledge. A full time professional Realtor with experience should be able to guide a Buyer through all of the potential "What If" scenarios. Ask a lot of questions before and during the offer/negotiations in order to make good decisions that make is wise to go Cash vs. obtain a mortgage.2018-10-03T03:57:00-07:002020-11-24T05:02:04-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6336Did You Stay or Did You Go?We have over 100 years combined living experience in the Hampton Roads area. As such, we thought to poll our agents and see who stayed and went with Hurricane Florence coming in.... and what they did to prepare their homes. Turns out everyone actually stayed in the area, thus their preparation was for hunkering down to weather the storm (if it came this way)!
Here's what some of them had to say:
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We picked up the standard stuff, except I bought some junk food that I normally don’t get.
We bought extra gas, fired up the generator to make sure it was good to go, froze a dozen bottles of water to help use as ice to keep things cold if power goes out. I turned the refrigerators & freezers to the coldest settings.
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Monday and Tuesday stowed all loose lawn items, pool etc. We drained 2 feet out of pool, tuned on the generator to make sure it was good to go, purchased 60 gallons of gas, and stocked on items like food. We turned off chlorination in pool on Monday in case we lose power for weeks we have 30,000 gallons of water.
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I just finished picking everything up outside. Generator is good to go and got plenty of water as well.
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We stayed. We've cleared the porches, gas tanks are full, propane tanks are full. Fortunately we have a gas stove so we/I can cook. Unfortunately we do not have a generator but we are praying we won't need one.
Of course we got 5 cases of water I I've made a big pot of spaghetti sauce which we will be eating on today and tomorrow. Just got home got stuff for salad. And of course snacks. chips and salsa!
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We skipped the issue of bottled/packaged water, and went straight for the Rubbermaid containers (the large ones you put in the attic with junk!) as they can be emptied and filled as needed in the event of need, as opposed to housing water (and having the throw away bottles/containers) and otherwise trying to chase it down as it sells out so quick in the event of an inbound hurricane!
We started unplugging items we really don't need plugged in, and made sure to get REALLY caught up in all of the laundry (new sheets on bed- old ones washed and put away). Same with clothing items. We did a really good wash down of the entire house and basically bought out the dollar store in batteries!
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Notice the generator was a big one that was mentioned!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-09-15T04:02:00-07:002020-11-24T05:02:56-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6337The Upside of Buyer Heart BreakSo, you've been looking at houses online, hopefully working directly with a professional real estate agent... and otherwise staying off certain national sites that like to take your information, sell it to whatever random agent has bought that particular zipcode and got your business only by spamming your email, phone and text.
But... we digress.
So you've been looking at houses online, and decided that there's ONE IN PARTICULAR THAT WOULD BE PERFECT.
The pictures!
The price!
The layout (from what you can tell)!
The colors look fantastic...
The yard looks well kept...
The appliances are new or at least recent...
EVERYTHING IS PERFECT.
Right?
So, you arrive there and it hit's you:
Something. Anything. Everything... is a no-go. The house is not only NOT perfect for you (or even close), but just absolutely would not work out now that you're standing inside it (or even sometimes before you've even walked in if you really hate the neighborhood or otherwise the location that would make your commute unbearable).
That sinking feeling of heartbreak feels awful, we know it does. But in all honesty, it's the reality of "online window shopping" for a home. Our hopes, dreams, and ideals (from what's inside the home to what you may want your monthly payment to stay under) can be rocked to their foundation when you think you've found that Perfect House, and you figure out it's not what you thought it was going to be.
The good news is.... buying a home is, and should be, a learning experience!
Heartbreak is just another rung on the ladder to get where you're going: Your TRULY Perfect House.
“So it’s true, when all is said and done, grief is the price we pay for love.” <br />― <a class="authorOrTitle" href="https://www.goodreads.com/author/show/2798990.E_A_Bucchianeri">E.A. Bucchianeri</a>, <a class="authorOrTitle" href="https://www.goodreads.com/work/quotes/16351434">Brushstrokes of a Gadfly</a>
<3
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Thoughts? Questions? Have you fallen in love with a home, online, only to have it break your heart? Let us know about it!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-09-01T04:03:00-07:002020-11-24T05:04:12-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6338Buying Is Now 26.3% Cheaper Than Renting In The USAnother great one from our people at Keeping Current Matters:
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The results of the latest <a href="https://www.trulia.com/research/rent-vs-buy-summer18/">Rent vs. Buy Report</a> from Trulia show that homeownership remains cheaper than renting, with a traditional 30-year fixed rate mortgage, in 98 of the 100 largest metro areas in the United States.
In the six years that Trulia has conducted this study, this is the first time that it was cheaper to rent than buy in any of the metropolitan areas.
It’s no surprise, however, that those two metros are San Jose and San Francisco, CA, where median home prices have jumped to over $1 million dollars this year. Home values in San Jose have risen 29% in the last year, while rents have remained relatively unchanged.
For the 98 metros where homeownership wins out, 97 of them show a double-digit advantage when buying. The range is an average of 2.0% less expensive in Honolulu (HI), all the way up to 48.9% in Detroit (MI), and 26.3% nationwide!
Below is a map of the 100 metros that were studied. The darker the blue dot on the metro, the cheaper it is to buy there.
<a class="lightbox-added alignnone" href="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/07/31102628/20180801-KCM-ENG1.jpeg"><img class="alignnone wp-image-2062072" src="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/07/31102628/20180801-KCM-ENG1.jpeg" alt="Buying Is Now 26.3% Cheaper Than Renting in the US | Keeping Current Matters" width="550" height="413" /></a>
In order to calculate the true cost of renting vs. buying, Trulia includes all assumed renting costs, including one-time costs (like security deposits), and compares them to the monthly costs of owning a home (insurance, mortgage payments, taxes, and maintenance) including one-time costs (down payments, closing costs, sale proceeds). They also assume that households stay in their home for seven years, put down a 20% down payment, and take out a 30-year fixed rate mortgage. The full methodology is included with the study results <a href="https://www.trulia.com/research/rent-vs-buy-summer18/">here</a>.
Below is a chart created with the data from the last six years of the study, showing the impact of the median home price, rental price, and 30-year fixed rate interest rate used to calculate the ‘cheaper to buy’ metric.
<a class="lightbox-added alignnone" href="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/07/31102655/20180801-KCM-ENG2.jpeg"><img class="alignnone wp-image-2062073" src="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/07/31102655/20180801-KCM-ENG2.jpeg" alt="Buying Is Now 26.3% Cheaper Than Renting in the US | Keeping Current Matters" width="550" height="413" /></a>
In 2016, when buying was 41.3% less expensive than renting, the average mortgage rate was the driving force behind the difference. Rates this year are the highest they have been in six years which has narrowed the gap, all while home price appreciation has also been driven up by a lack of homes for sale.
Cheryl Young, Trulia’s Chief Economist, had this to say,
“One point deserves emphasizing: The ultra-costly San Francisco Bay Area is not a harbinger for the nation as a whole. While renting may outweigh buying in San Jose and San Francisco, it is unlikely that renting will tip the scales nationally anytime soon.”
Bottom Line
Homeownership provides many benefits beyond the financial ones. If you are one of the many renters out there who would like to evaluate your ability to buy this year, meet with a local real estate professional who can help you find your dream home.
-----<br />Thank you, again, to <a href="https://www.keepingcurrentmatters.com/2018/08/01/buying-is-now-26-3-cheaper-than-renting-in-the-us/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost">KCM</a>! Thanks again for great information for our followers!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-08-22T04:04:00-07:002020-11-24T05:06:38-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6339What's In A Name.... For A Hurricane?We hear these names as they come up as tropical storms.... but where do the actual names come from? Find out more below!
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Tropical storms have been named for 2017, so here is the list of hurricane names for the Atlantic Basin (Miami hurricanes) and Eastern North-Pacific (California hurricanes). Is your name listed?
HOW ARE HURRICANES NAMED?
Native Americans called these storms Hurakons, after “a great spirit who commanded the east wind.” Spanish explorers adopted the word and then began giving hurricanes the names of patron saints on whose feast days the storms occurred. Later, hurricanes were identified by their longitude and latitude.
A weatherman in Australia is credited with being the first person to name a tropical storm after a female. By World War II, meteorologists in the U.S. military named storms after their girlfriends and wives. The first storm in the Atlantic Ocean named for a man was Hurricane Bob!
Hurricanes’ names are selected by the World Meteorological Organization. Every six years, the list of names begins again! However, the names of especially destructive hurricanes are usually retired. <a href="https://www.almanac.com/content/retired-atlantic-hurricane-storm-names">See the “retired” tropical storm and hurricane names</a>.
HURRICANE NAMES FOR 2017
ATLANTIC TROPICAL (AND SUBTROPICAL) STORM NAMES FOR 2017
Arlene
Harvey
Ophelia
Bret
Irma
Philippe
Cindy
Jose
Rina
Don
Katia
Sean
Emily
Lee
Tammy
Franklin
Maria
Vince
Gert
Nate
Whitney
EASTERN NORTH-PACIFIC TROPICAL (AND SUBTROPICAL) STORM NAMES FOR 2017
Adrian
Irwin
Ramon
Beatriz
Jova
Selma
Calvin
Kenneth
Todd
Dora
Lidia
Veronica
Eugune
Max
Wiey
Fernanda
Norma
Xina
Greg
Otis
York
Hilary
Pilar
Zelda
For more fun information on hurricanes, find out <a href="https://www.almanac.com/content/how-measure-hurricane-strength-saffir-simpson-hurricane-scale">how to figure out a hurricane’s strength</a> and <a href="https://www.almanac.com/content/predicting-hurricanes-eyes-have-it">how to predict a hurricane</a>!
SOURCE:
<a href="https://www.almanac.com/content/list-names-2017-hurricane-season">The 2017 Old Farmer's Almanac</a>
2018-08-01T04:07:00-07:002020-11-24T05:08:22-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6340Major Road Closure...!Important notice for our Virginia Beach residents and those who are coming into this area...! Hot off the press from the <a href="https://www.vbgov.com/news/pages/selected.aspx?release=3886&title=temporary%20road%20closure%20to%20affect%20princess%20anne%20road%20starting%20july%2023">Virginia Beach city website</a>:
Temporary Road Closure to affect Princess Anne Road starting July 23
Monday, July 16, 2018
​The Department of Public Utilities will begin the construction of a sanitary sewer vacuum main along Princess Anne Road starting on Monday, July 23. This work will result in the temporary closure of Princess Anne Road from Fenwick Way to Seaboard Road, with a detour from Holland Road to Nimmo Parkway to Seaboard Road. This detour is expected to be in effect until Sept. 23, 2018.
Advanced warning signs will be posted advising motorists of the utility work and detour routes. The Dozier's Bridge Canoe and Kayak Launch will be inaccessible for the duration of the road closure. Access to properties within the road closure will be maintained for area residents.
For more information, contact Don Piron with Virginia Beach Public Utilities at (757) 385-8478.
<img src="https://www.vbgov.com/news/PublishingImages/20180716-CO-133PU.png" alt="20180716-CO-133PU.png" />
Know someone who could use this information? Don't keep it a secret, be sure to share this blog post!
2018-07-19T04:08:00-07:002020-11-24T22:13:49-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:63422018: Summer of Flight - Military Aviation Musem - PUNGOOne of the best kept secrets here in the 757 is the Military Aviation Museum. Be sure to check out their website, <a href="http://www.militaryaviationmuseum.org,">www.militaryaviationmuseum.org, </a>to find out more information about their events. They keep a full calendar, so you'll be sure to find something going on there on nearly a weekly basis!
This year's "Summer of Flight" includes the following scheduled events:
Fee: Summer of Flight is included in your general museum admission, free for museum members!
Schedule: Each Summer of Flight event starts at 1pm. Flights, Aircraft and Topics subject to change.
May 26th – Dunkirk Evacuation Begins – Featuring Supermarine Spitfire
June 2nd – Battle of Midway – Featuring Grumman Wildcat & PBY Catalina (taxi only)*
June 9th – D-Day Invasion – Featuring North American P-51 Mustang
June 16th – Flying Proms Symphony Air Show – No Summer of Flight Event
June 23rd – Operation Barbarossa – Featuring Junkers JU-52 Guest Speaker: Christopher Kolakowski, Director, The MacArthur Memorial
June 30th – End of the Fokker Scourge – Featuring Sopwith 1½ Strutter
July 7th – The Fokker Scourge Begins – Fokker Eindecker, featuring guest speaker, Boom Powell
July 14th – Skyraider in Korea – Douglas AD-4 Skyraider, featuring guest speaker, Dennis Evans
July 21st – Exhibit Opening – Snoopy & The Red Baron – Featuring Fokker DR1, featuring guest speaker, Jonathon Lichtenstein
July 28th –Battle of Midway – Featuring Grumman Wildcat & PBY Catalina (taxi only), featuring guest speaker, Dr. Timothy Orr, ODU<br />
August 4th – Talking Planes & First Communications – Featuring Curtiss Jenny JN-4, featuring guest speaker, Jonathon Lichtenstein
August 11 – Invasion of Guadalcanal – Featuring Grumman Wildcat, featuring guest speakers, Jim Metcalfe & Lynn Heinze
August 18th – Battle of Stalingrad Begins – Featuring Fockewulf Fw 190, featuring guest speaker, Skip Johnson
August 25th – The First Air Races – Featuring Bleriot 12, featuring guest speaker, Jonathon Lichtenstein
September 1st – Japan Surrenders – Featuring Goodyear FG-1D Corsair, featuring guest speaker, Ed Dillingham
September 8th - Invasion of Sicily – Curtiss P-40, featuring guest speaker, Bill Murray
September 15th – Battle of Britain Day – Hawker Hurricane and Messerschmitt bf109, featuring guest speaker, Mike Ganoe Jr
September 22nd – The World’s First Operational Jet – Featuring Messerschmidt ME-262 (flyover only), featuring guest speaker, Dave Gayton
September 29th – To Be Announced
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Are you a history buff, particularly military history? Be sure to check this place out--- you won't regret it!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-07-17T04:13:00-07:002020-11-24T05:14:39-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6341Cell Phone Dead Zones....!Who doesn't deal with some dead-zones, here and there? If you don't... you're LUCKY!
If you do... there's NO PLACE more annoying to have spotty service than IN YOUR HOME!
Check out these tips from PopSci (<a href="https://www.popsci.com/no-cell-phone-service">Popular Science</a>) on how to deal with those in home dead zones:
Try a messaging app
If Wi-Fi calling doesn’t work for you, and you’re unwilling to buy a new phone, you can still try another solution—though none of them are quite as seamless.
Most messaging options—like <a class="linkTargets-processed external" href="https://www.messenger.com/" target="_blank">Facebook Messenger</a>, <a class="linkTargets-processed external" href="https://www.whatsapp.com/" target="_blank">WhatsApp</a>, and <a class="linkTargets-processed external" href="https://www.skype.com/" target="_blank">Skype</a>—allow you to make voice calls and send messages to any of your friends within those apps.
There’s a good chance most of your contacts are on Facebook anyway, so that’s a decent option—but it isn’t always as reliable as text messaging, since your friends may not receive notifications about Facebook messages or check the app very often.
If you’re willing to go through a bit more setup, <a class="linkTargets-processed external" href="https://voice.google.com/" target="_blank">Google Voice</a> lets you make calls and send actual text messages using a regular phone number, and your recipient doesn’t have to download any special apps—they’ll just receive your calls and texts as normal. There’s only one catch: Google Voice doesn’t use your phone’s existing number; you have to pick a new number when you sign up for the service. That means you’ll have to either give this second number to your friends (so they know who’s calling), or <a class="linkTargets-processed external" href="https://support.google.com/voice/answer/1065667?hl=en" target="_blank">port your current number to Google Voice</a>, get a new number for your phone, and use the Google Voice app for all your calls and texts going forward. Like I said...it’s complicated.
Boost or create a wireless signal
Lastly, there are devices out there that can either boost or create a cellular signal inside your house. But they can also be complicated and expensive, and come with their own limitations.
Verizon, for example, <a class="linkTargets-processed external" href="https://www.verizonwireless.com/accessories/samsung-4g-lte-network-extender-2/" target="_blank">offers a 4G LTE Network Extender</a> for $250. This is a microcell device that uses your home internet connection to “create” a tiny cell tower within your house. <a class="linkTargets-processed external" href="https://www.att.com/att/microcell/" target="_blank">AT&T used to offer a similar device</a>, but has discontinued it since the release of Wi-Fi calling.
Not only are these devices expensive, but they allow anyone passing by your house to use your home internet for cell service. Meanwhile, if you have friends and family that use a different carrier than you, they won’t get a signal from it. If you want something that works with all major carriers, you can buy <a class="linkTargets-processed external" href="https://amzn.to/2z5MfdX" target="_blank">third-party microcell devices</a>, but they’re even more expensive than the proprietary ones.
<a class="linkTargets-processed external" href="https://support.t-mobile.com/docs/DOC-14947" target="_blank">T-Mobile offers a different kind of network extender</a>: Instead of using your home internet, it merely extends the network from a low-signal area (like a window) to a no-signal area (like the rest of your house). This requires that you have at least one bar of signal somewhere in your house, and it may require some finagling to get working properly. Still, it’s another option, and T-Mobile offers it for only a $25 deposit.
If you have a different carrier, there are <a class="linkTargets-processed external" href="https://amzn.to/2tPKvjN" target="_blank">other third-party devices</a> that can do something similar. We recommend buying your device from a store with a good return policy so you can test it before committing, since everyone’s home is different.
Overall, Wi-Fi calling is the easiest and most reliable option—but if you absolutely can’t use it, these alternatives will work. You just have to be willing to spend time setting them up.
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So how's the service in your home? Let us know in the comments!
If you have any questions, please feel free to reach out!
2018-07-17T04:10:00-07:002020-11-24T05:12:13-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6343Video: Real Estate 'Guarantees' - ARE THEY TOO GOOD TO BE TRUE?? (Hint: YES!)Part TWO of our new short-video series, "Real Estate Moment of Truth!"
If you have any questions, please feel free to reach out!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-07-01T04:14:00-07:002020-11-24T05:16:10-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6344Video: Is Your Agent Looking Out For YOU... or The Mortgage Lender?Part ONE of our new short-video series, "Real Estate Moment of Truth!"
So what do you think? Surprised? Not at all? Let us know!
If you have any questions, please feel free to reach out!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-06-25T04:16:00-07:002020-11-24T05:17:36-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6345GRILLING SAFELYFantastic information from the Public Information Officer of the Virginia Beach Fire Department:
(Be sure to share this with your family, friends and co-workers...!)
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The Virginia Beach Fire Department wants you to be safe while grilling.
General safety tips:
Read the instructions and safety warnings before using the grill.
Grilling is an outdoor activity.
Never bring your grill in the house or in the garage.
Both charcoal and gas grills can pose a serious carbon monoxide risk indoors.
Keep your grill a safe distance from your home or deck railings.
Keep children and pets at least three feet away from the grill.
Never leave the grill unattended.
Make sure to clean the grill surface before you begin cooking.
Have a fire extinguisher and baking soda (for grease fires) nearby.
Never extinguish a grease fire with water.
Make sure the grill is on a flat surface so it doesn’t tip over.
Gas grills NFPA reports that gas grills can lead disastrous consequences if you are not careful. Between the years 2011-2015, 5 out of 6 (82%) grills involved in home fires were fueled by gas. Check the major connection points between the gas tank hose and the regulator and cylinder and where the hose connects to the burners. Tighten if loose.
Check the gas (propane) tank for potential leaks by spraying soapy water to the gas tank hose and turning on the gas. Bubbles from the solution will reveal any leaks in the hose. Either repair or replace the hose.
Never light the grill with the cover on.
If you smell gas while cooking, turn off your gas tank and burners. If the gas leak stops, call and get the tank serviced. If the leak doesn’t stop, call the fire department.
Charcoal grills According to NFPA, charcoal or other solid-fueled grills are involved in 1300 home fires per year, including 600 structure fires and 700 outside fires annually. If you use starter fluid, only use charcoal lighter fluid. Never add charcoal fluid or any other flammable liquid to a fire.
Keep charcoal fluid out of reach of children and away from heat sources.
Make sure coals burn out completely and ashes cool at least 48 hours before disposing.
Discard ashes in a non-combustible container.
If you must discard of ashes before completely cooled, place in foil and soak with water before placing container.
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What do you think? Any more you could add?
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-06-10T04:18:00-07:002020-11-24T22:14:09-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6354Hampton Roads Current Trends: It's A Seller's MarketFor homeowners interested in selling in the Hampton Roads area, 2018 is starting off as a seller’s market. January’s number of active listings and the months supply of inventory continued to decline year-over-year, even as sales rose.
Overall, the region’s residential active listings were down 6.87% year-over-year for the month of January, with 8,773 available homes. The area’s active inventory has declined year-over-year for 30 consecutive months. Each of the region’s seven major cities (Norfolk, Virginia Beach, Portsmouth, Chesapeake, Suffolk, Hampton and Newport News) experienced decreased inventory except for Virginia Beach, which was up a modest 1.37%. Norfolk had the most significant drop in inventory for January, down 16.25% year-over-year.
January’s supply of residential home inventory is currently 3.92 months, down 10.30% from the same period of time last year. Experts describe a balanced market as 6 months’ supply of inventory. In comparison, the Hampton Roads region has been below a six months’ supply for 27 months (since November 2015), and it has declined year-over-year for 33 consecutive months (since May 2015). Four of the region’s seven major cities currently have less than 4 months’ supply.
While inventory was low, residential pending sales remained healthy. The number of homes that went under contract in January 2018 rose 14.57% compared to January 2017, with 1,871 units. Pending sales for Portsmouth and Newport News rose significantly year-over-year, up 47.92% and 38.68% respectively. Suffolk was the only major city to undergo a decline in pending sales, down 14.73% year-over-year.
Residential settled sales also experienced year-over-year growth. January 2018 recorded 1,616 sales, up 172 (or 11.91%) more than last year’s 1,444 sales. Of the region’s seven major cities, five underwent increases (Hampton 32.73%, Portsmouth 27.66%, Newport News 27.17%, Norfolk 15.61% and Virginia Beach 9.85%), while Chesapeake and Suffolk experienced declines of 6.43% and 14.14% respectively.
The region’s residential median sales price rose a modest 3.42% in January 2018 to $225,000, as compared to $217,550 in January 2017. All of the major cities experienced gains in median sales price ranging from 1.39% (Norfolk) to 25.20% (Portsmouth).
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Big thanks to the <a href="https://www.reinmls.com/hampton-roads-indicators-sellers-market">Real Estate Information Network</a> for this great writeup!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-06-02T16:42:00-07:002020-11-24T17:44:09-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6358New App Helps Veterans Find Benefits
As always, thank you so much to <a href="https://www.militarynews.com/new-app-helps-veterans-find-benefits/article_25496761-a71e-5ecc-8d5d-d6fcb6ee486d.html#utm_source=militarynews.com&utm_campaign=%2Fnewsletters%2Fnews%2F&utm_medium=email&utm_content=read%20more">Military News</a> for another great post in regards to our veterans.
This one is a pretty good read, like usual... And this app looks great!
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National Veterans Legal Services Program (NVLSP) today launched the first of its kind app for use by military veterans and their advocates, available for download through the <a href="http://nationalveteranslegalservicesprogram.pr-optout.com/Tracking.aspx?Data=HHL%3d8.97%40%26JDG%3c%3b4%40%2f409%26SDG%3c90%3a.&RE=MC&RI=4898863&Preview=False&DistributionActionID=6512&Action=Follow+Link" target="_blank">Apple Store</a>, <a href="http://nationalveteranslegalservicesprogram.pr-optout.com/Tracking.aspx?Data=HHL%3d8.97%40%26JDG%3c%3b4%40%2f409%26SDG%3c90%3a.&RE=MC&RI=4898863&Preview=False&DistributionActionID=6507&Action=Follow+Link" target="_blank">Google Play Store</a> or <a href="http://app.nvlsp.org/" target="_blank">NVLSP’s website</a>. Named the NVLSP VA Benefit Identifier, the application helps veterans, with or without the assistance of a veteran’s service officer, determine specific VA benefits to which they are likely entitled.
The app directs users to a logic based questionnaire that assists in verifying whether a veteran should file a claim for service-connected disability benefits or nonservice-connected disability pension. The survey addresses all possible disabilities covered by VA regulations. Created in both English and Spanish, it functions as a comprehensive logic tree, generating additional questions from previously supplied answers. To protect privacy, no data or personally identifiable information is retained. Once the questionnaire is completed, results can be emailed or printed and used as a reference when filing claims for VA benefits.
“We’re hoping to maximize the benefit of this app for veterans by offering it as a free service, without any cost for downloading and utilizing,” said Bart Stichman, co-founder and joint executive director of NVLSP. “We want to provide a supplementary means for veterans to decide what their best options are in filing a claim for disability benefits.”
NVLSP’s VA Benefit Identifier app does not assist with claims for a higher rating for disabilities the VA has already connected to military service; claims previously filed with the VA; or claims for disabilities resulting from VA health care, VA vocational rehabilitation or participation in a VA Compensated Work Therapy program
In completing the Identifier questionnaire, veterans should have documents available about their military service (DD Form 214), information about medical conditions and any prior VA decisions or related communications. Upon completion of the survey, veterans are advised to schedule an appointment with a veteran’s advocate chosen from a list of Veterans Service Organizations furnished in the app. Veteran’s advocates are regularly available to assist with applications for VA disability benefits, free of charge.
A key highlight of the NVLSP VA Benefit Identifier is its ability to appropriately recommend when veterans should file for specific conditions, prompting them to submit an “intent to file” form with the VA, while further providing timelines and instruction on how to proceed with a formal claim.
NVLSP’s app features an easy to navigate interface allowing veterans to interact with a support point person, and can be downloaded from the NVLSP website to any web-enabled smart device.
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Know anyone who could use this information? Be sure to let them know to check out all the great information at www.MilitaryNews.com!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-06-01T20:18:00-07:002020-11-24T21:19:39-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6359How To Keep Your Pet From Triggering Your Home Security SystemHome security systems are designed to protect you, your family and even your pets. But sometimes, your furry friends (or even scaly ones) can trigger your home security system. Here’s how you can prevent false alarms:
Sensor Placement
Sensors are one of the biggest challenges when it comes to designing a pet-friendly home security system. Pets can easily trigger both motion and image sensors, which are usually activated by heat or movement. For example, if your pet decides to go to its food bowl while these sensors are armed, a false alarm could be sent to homeowners and responders. This can affect how authorities respond to the alarm because they won’t know if it’s a real threat. Configure your system by:
Positioning sensors higher than waist-level so your pets can move openly throughout your home without tripping any alarms.
Installing sensors that accommodate your pet’s weight. Most sensors won’t trigger an alarm if your pet weighs under a certain threshold.
Work with your security vendor during the consideration process to design a system that accommodates your pets.
Camera Sensitivity
If you have surveillance cameras that alert you when there’s movement, adjust the sensitivity to accommodate for pets. Lowering the sensitivity keeps your camera from sensing minor movements, but still allows it to capture major activity from an intruder.
Also, consider camera placement. It’s easier for your pets to trigger your cameras if they are at a lower level. Place cameras at higher levels; that way, you can still capture intruders, but also minimize false alarms from your pets.
Mobile Solutions
It’s a lot easier to verify an alarm if you have the ability to monitor your home from your mobile device. Consider security equipment that allows you to control features remotely through your smartphone or tablet. If you have cameras throughout your home, ensure they allow you to monitor live feeds even when you are away. This will help you identify false alarms and eliminate any surprises. It also gives you the ability to disarm your system if your pet does happen to trip a sensor.
There’s no reason you can’t have a pet and a security system at the same time. Work with your security vendor to ensure installation accommodates your needs.
How do you keep your pets from triggering your home security system? Share in the comments below.
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Thanks so much to our friends at <a href="https://www.vectorsecurity.com/blog/how-to-keep-your-pet-from-triggering-your-home-security-system?utm_source=constantcontact&utm_medium=email&utm_campaign=homeblogupdates-C">VECTOR</a> for another helpful writeup!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-04-01T20:20:00-07:002020-11-24T22:14:45-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6361You Can Save For A Down Payment Faster Than You Think!
That's a hopeful title up there, isn't it?!
Read on for some helpful statistics.....
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Saving for a down payment is often the biggest hurdle for a first-time homebuyer. Depending on where you live, median income, median rents, and home prices all vary. So, we set out to find out how long it would take to save for a down payment in each state.
Using data from the <a href="https://www.census.gov/housing/hvs/data/histtabs.html" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&q=https://www.census.gov/housing/hvs/data/histtabs.html&source=gmail&ust=1521045346297000&usg=AFQjCNHftej6xNjiMWwCW61WsWcJrxMcnw">United States Census Bureau</a> and <a href="https://www.zillow.com/research/data/" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&q=https://www.zillow.com/research/data/&source=gmail&ust=1521045346297000&usg=AFQjCNGWup3QEwRx7XncNqW0SVh-TN2_Rg">Zillow</a>, we determined how long it would take, nationwide, for a first-time buyer to save enough money for a down payment on their dream home. There is a <a href="http://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&q=http://www.investopedia.com/terms/t/twenty-eight-thirty-six-rule.asp&source=gmail&ust=1521045346297000&usg=AFQjCNEZR3PVsOcaXY5z2G3FVJTvWhjIYg">long-standing ‘rule’</a> that a household should not pay more than 28% of their income on their monthly housing expense.
By determining the percentage of income spent renting in each state, and the amount needed for a 10% down payment, we were able to establish how long (in years) it would take for an average resident to save enough money to buy a home of their own.
According to the data, residents in Ohio can save for a down payment the quickest in just under 3 years (2.44). Below is a map that was created using the data for each state:
What if you only needed to save 3%?
What if you were able to take advantage of one of Freddie Mac’s or Fannie Mae’s 3%-down programs? Suddenly, saving for a down payment no longer takes 5 or 10 years, but becomes possible in a year or two in many states as shown on the map below.
Bottom Line
Whether you have just begun to save for a down payment, or have been saving for years, you may be closer to your dream home than you think! Meet with a local real estate professional who can help you evaluate your ability to buy today.As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
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Pretty good news, we think!
As always, thank you to <a href="https://www.keepingcurrentmatters.com/2018/03/13/you-can-save-for-a-down-payment-faster-than-you-think-2/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost">KCM</a> for a great writeup!
Got questions? We've got answers! Hit us up in the comments below, or call/text us at 757-335-6111!2018-03-13T20:30:00-07:002020-11-24T21:31:57-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6360Mica Burkart, Wonder-PupMica is part of the Burkart family, her human-Dad is our very own <a href="https://www.perfecthouse.com/agents/barrett-d-burkart-jr/">Barrett Burkart</a>! You've likely seen her in a handful of our posts in the last few years or in person at our Client Appreciation Events. She's quite the show-stopper, thus we figured it was time to tell at least some of her story:
Mica is a boxer, but that's about all they knew about her before she was adopted into the Burkart family. They estimate she was a little over a year old when she was originally brought in to a veterinary clinic in New Orleans by animal control about 8 years ago with a broken femur. That was surely a sad and scary day for Mica, full of anxiety, pain and fear. On his way to a Saint's game, Barrett stopped in to that clinic to pick up his wife, Anemone. His wife had worked with Mica that day and had taken special care of her, but by that evening as she left for the Saint's game, Mica still looked very pitiful and scared, as she only weighed 22lbs and was incredibly malnourished.
Unable to shake the thoughts of Mica alone at the clinic over night, after the game Barrett and his wife stopped back in at the clinic to see if perhaps bringing Mica home with them for the night they would be able to get her to eat. That night was the start of a new life for Mica, as the Barrett and Anemone both fell in love with her. It didn't take long before hey decided to adopt this sweet pup into their family! Over time, Mica absolutely flourished in their home, and it's hard to remember her as the sad pup back at the New Orleans clinic. She loves the beach, any and ALL food and of course attention.
The Burkart's relocated to Virginia Beach in 2014, and of course brought Mica along. They live out in Chick's Beach, which gives Mica all the beach time she can get her paws on! Life has been pretty good for Mica Burkart in the years since her adoption, but in 2017, Mica was diagnosed with bone cancer, which caused her left rear leg to break. Sadly, this has caused her immense pain. In an attempt to slow the cancer and give her some relief from the pain, a very special veterinarian here in Hampton Roads (Anemone Burkart!) amputated the affected leg. Mica has been a 3 legged wonder pup for approximately 6 months now, a bit slower to get around, but with the same fun attitude. Her Dad often carries her in a backpack so she doesn't miss all the fun stuff her family does. Recently, they found a really good deal on a dog "wheelchair" for her, so she's again able to "run" along with her Mom, Dad and sister (a pup named Bay) at the beach. She has gone through chemo therapy, which she finished up about a month ago! She does still have cancer, but her family has hopes for her to see another 6 months of life for this wonder-pup.2018-03-03T21:29:00-07:002020-11-24T21:30:26-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6362Partnering With the Buffalow Family in Chesapeake: March 10th 2018 (Saturday, 10am)According to the <a href="https://www.ncoa.org/news/resources-for-reporters/get-the-facts/senior-hunger-facts/">NCOA</a> (National Council On Aging):
Millions of older Americans are at risk for hunger. In 2014, <a href="http://www.nfesh.org/wp-content/uploads/2016/05/State-of-Senior-Hunger-in-America-2014.pdf" target="_blank">10.2 million older Americans faced the threat of hunger</a>, representing 15.8% of adults aged 60+ in the U.S.
Food insecurity is growing among older adults. The food insecurity rate for all senior households was <a href="https://www.ers.usda.gov/webdocs/publications/84973/err-237.pdf?v=42979" target="_blank">7.8% in 2016</a>, down slightly from the year before but up from 5.5% in 2001. At the same time, the percentage of seniors facing the threat of hunger has more than doubled.
The Buffalow Family & Friends Community Days have focused their efforts on senior citizens in Hampton Roads, to help with the issue of food insecurity through the following event:
Senior Community Meal Bags: Packing & Distribution
Location: Chesapeake Crossing Apartments
1921 Robert Hall Blvd, Chesapeake, VA 23324
Date: 10 March 2018, Saturday
Time: 10am to pack bags, distribution to start at noon
Collected items are intended to be things that can be cooked for a meal, such as:
Canned veggies
Cans of chicken or tuna
Protein bars
Peanut butter crackers
Fruit cups
Boxes of mac and cheese
Trail mixes with nuts and fruit
Jars or cans of spaghetti sauces (different types)
Boxes of Pasta
Dried beef
Eggs
Canned milk
Almond milk (unsweetened)
Lunch meat
Bacon
Bags are intended to get them through the month with needed foods for meals in their homes. While they appreciate any donation, from funds to time to food, they do ask that donated food items follow the above guidance.
For more information such as where/how to drop off items for the bags, please contact Pamela Laurens via email (Pamela@PerfectHouse.com) or via text/phone call: <a href="tel:(757)%20235-5010" target="_blank">757-235-5010</a>.
<a href="http://www.buffalowfamily.com/">Click here to learn more about The Buffalow Family & Friends Community Days</a>.
<a href="https://www.paypal.com/donate/?token=-S5UH2HAfeARJnqIxhXc9cXdzNOBb0Oov4j8JNdIDJ3toPY68JNI1aqMAoeBngIiW-93bm&country.x=US&locale.x=US">Click here to donate funds directly</a>
We will be there... and hope to see you, too!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-03-01T21:32:00-07:002020-11-24T21:32:52-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6363Where Are Mortgage Interest Rates Headed In 2018? Most people will gloss past this headline- there's nothing exciting about mortgage rates, right?
Well, actually....
Read this first, then let us know what you think!
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<a title="Permanent Link: Where Are Mortgage Interest Rates Headed in 2018?" href="https://www.keepingcurrentmatters.com/2018/02/07/where-are-mortgage-interest-rates-headed-in-2018/" rel="bookmark">Where Are Mortgage Interest Rates Headed In 2018</a>?
The interest rate you pay on your home mortgage has a direct impact on your monthly payment. The higher the rate the greater the payment will be. That is why it is important to know where rates are headed when deciding to start your home search.
Below is a chart created using <a href="http://www.freddiemac.com/research/outlook/20180118_maintaining_momentum.html">Freddie Mac’s U.S. Economic & Housing Marketing Outlook</a>. As you can see, interest rates are projected to increase steadily over the course of the next 12 months.
<a class="lightbox-added alignnone" href="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/02/07082616/20180207-KCM-ENG1.jpeg"><img class="alignnone wp-image-2060049" src="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/02/07082616/20180207-KCM-ENG1.jpeg" alt="Where Are Interest Rates Headed? | Keeping Current Matters" width="550" height="413" /></a>
How Will This Impact Your Mortgage Payment?
Depending on the amount of the loan that you secure, a half of a percent (.5%) increase in interest rate can increase your monthly mortgage payment significantly.
According to CoreLogic’s latest <a href="http://www.corelogic.com/about-us/researchtrends/corelogic-home-price-insights.aspx">Home Price Index</a>, national home prices have appreciated 7.0% from this time last year and are predicted to be 4.2% higher next year.
If both the predictions of home price and interest rate increases become reality, families would wind up paying considerably more for their next home.
Bottom Line
Even a small increase in interest rate can impact your family’s wealth. Meet with a local real estate professional to evaluate your ability to purchase your dream home
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Thanks again SO MUCH for this great, concise blog from our friends over at <a href="https://www.keepingcurrentmatters.com/2018/02/07/where-are-mortgage-interest-rates-headed-in-2018/">Keeping Current Matters</a>!
What are your thoughts on this? Whether you are buying or looking to sell, interest rates MATTER.... Let us know what you think!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-02-18T21:32:00-07:002020-11-24T21:34:24-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6364Step-by-Step Guide to the VA Loan ProcessThe VA Loan is a FANTASTIC benefit to having served in the military. Our agents have extensive experience helping our clients navigate the home buying process that include the VA Loan. Also, the VA Loan is not just of interest to those buying, but also to those selling, as the VA Appraiser (mentioned below) will be a part of the sales transaction. So this is great information for anyone on either side of the transaction.
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For many borrowers, applying for any kind of mortgage may seem daunting. But, when broken down, this rundown of 6 steps to getting a VA loan is easy to understand.
1. Select a VA-approved Lender
On the surface, it might appear that any lender will do. However, if you dig a little deeper, you may discover that not all lenders are the same. First, only lenders approved by the U.S. Department of Veterans Affairs can originate VA mortgages. Secondly, some lenders focus primarily on conventional loans, while others concentrate almost exclusively on the VA loan program for military clients. Using a VA specialty lender with extensive knowledge about the VA loan process vs. a lender who only funds a few VA mortgages a year may translate into an easier and quicker loan process.
2. Obtain a Certificate of Eligibility (COE)
An experienced lender can help you obtain what’s called a Certificate of Eligibility (COE). The COE will prove that you meet initial eligibility standards for VA loan benefits. It will also let the lender know how much entitlement you can receive, which is the amount the Department of Veterans Affairs will guarantee on your VA loan. To get your COE, you’ll need to give your lender a bit of information about your military service. Usually, a COE can be acquired online instantly through a lender’s portal or through the eBenefits portal on the va.gov website. Those servicemembers or surviving spouses whose COEs cannot be obtained online will have to get theirs by mail. A VA lender or the VA can help direct you to the right resource for your specific situation.
3. Pre-Qualify for Your Loan Amount
(Some will tell you that pre-qualifying for a home isn't necessary, but...)
Pre-qualifying is important. By choosing to complete this step you can save some time and potential surprises later in the process. To pre-qualify for your loan amount, you’ll have a candid conversation with your VA loan professional about your income, credit history, employment, marital status and other factors. Giving your lender complete details during the pre-qualifying step can help prevent surprises later during underwriting. The pre-qualifying step can also reveal areas that need improvement before you can be approved, such as credit or debt-to-income ratio. While a prequalification letter gives you a ballpark price range for house hunting, it does not guarantee that you will be approved for a loan, and your lender will later have to verify the information you provide. To get a loan requires later final approval by underwriting once all documents have been received and reviewed (see Step 5).
4. <a href="http://www.military.com/money/va-loans/step-by-step-to-a-va-loan-4-house-hunting.html">Sign a Purchase Agreement</a>
The fourth step is usually one borrowers enjoy because they get to look at homes they might consider buying. Working with a real estate professional who specializes in the VA process can help you get the most out of your benefits. This is true because the VA allows certain fees and costs to be paid by the seller (if both you and the seller agree), and a knowledgeable agent will know this and help you negotiate seller-paid fees. Once you’ve got a signed purchase agreement, you can move forward in the VA loan process.
5. <a href="http://www.military.com/money/va-loans/step-by-step-to-a-va-loan-5-loan-application-and-appraisal.html">Lender Processes Application and Orders VA Appraisal</a>
A signed purchase contract is the document you’ll need to finish your initial application. Once your lender has the contract, they will order the VA appraisal. Here again, not just any appraiser will do. Only a professional who is certified to perform appraisals to VA standards can evaluate the home being considered for VA financing. The VA appraiser will make sure the price you’ve agreed to pay for the home corresponds with the current value. Another very important part of the VA appraisal is to inspect the home to make sure it meets the VA minimum property requirements (VA MPRs). However, the VA appraisal does not take the place of a home inspection, which focuses on code violations, defects and the condition of the property. While many borrowers have heard horror stories about the length of the VA appraisal process, the Department of Veterans Affairs gives the appraisers 10 days from order to completion barring extenuating circumstances. While you’re waiting for appraisal documents, you’ll be busy submitting documents of your own to your VA-approved lender to show you have the ability to qualify for the loan. If the home passes appraisal for value and VA minimum property requirements, and it’s verified by the lender that you qualify for your loan, the underwriter will give his or her stamp of approval.
6. Close on Your Loan and Move In
After being approved by the underwriter, all that is left to do is close and move in. During closing, the property legally transfers from the former owner to you. Closing is a step that requires you to sign documents that confirm you understand and agree to the terms of the loan. You will need to provide proof of homeowners insurance and, if required, pay closing costs. Once you’ve signed all your closing documents, you’ll get the keys to your new home.
While these steps may not happen in the order above or be a required part (such as prequalification)*, they represent the typical process for the applicant in obtaining a VA purchase loan. Your lender may need to take other steps.
<img src="http://images01.military.com/media/money/homes/6-easy-steps-va-loan-414x289.gif" alt="6 Easy Steps to a VA Loan" />
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Once it's broken down into a few steps, it doesn't seem so bad, does it?
For more information on the<a href="http://www.benefits.va.gov/homeloans/"> VA Loan</a>, please contact us--- all of our agents have extensive experience with them here in the Hampton Roads area!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
Content provided by <a href="http://www.military.com/money/va-loans/step-by-step-guide-to-the-va-loan-process.html">Military.com</a>.2018-02-11T21:34:00-07:002020-11-24T21:35:35-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6366Mortgage Rate Move: EXPLAINEDHot off the press from Patrick Steele, of Tidewater Mortgage... here is a decent explanation on the latest!!!
<a href="http://www.mortgagenewsdaily.com/mortgage_rates/" target="_blank" data-saferedirecturl="https://www.google.com/url?hl=en&q=http://www.mortgagenewsdaily.com/mortgage_rates/&source=gmail&ust=1517688562607000&usg=AFQjCNFbKWvR5suoTCgN2F2nsUxjc-D-DQ">Mortgage rates</a> are in big trouble. Whatever you've read about the current spike so far today, you'll probably need to double it after today's bond market movement. Why? Because most news stories on rates haven't yet accounted for today's bond market movement! The most prevalent source material is Freddie Mac's weekly survey which generally tracks lender quotes from Monday and Tuesday of any given week. The survey showed a 0.07% jump week over week.
The actual jump is more like 0.12-.13. The average lender is now quoting 4.375% on top tier 30yr fixed scenarios. More than a few are already up to 4.5%. Lenders quoting rates much lower are likely doing so at the expense of profit margins and that could create sustainability concerns. Moreover, unless you're interacting directly with someone who is in a position to lock a mortgage rate for you right then and there, there's really no guarantee that the information informing any given opinion on rates is still current. In other words, things have been moving quickly. Just because your realtor's mortgage lender friend could easily quote one rate a few hours ago doesn't mean that rate is available now. Keep the volatility in mind if you happen to have a loan in process.
What's up with all the recent drama in rates? Nothing new really... Investors are concerned about increased bond market supply (higher supply = lower bond prices = higher rates) due to fiscal spending initiatives. Because that spending may have a stimulative effect on the economy, investors are also concerned about rising growth and inflation, either of which are bad for rates. OTHER investors are worried about the first group of investors and thus are making trades to try to get ahead of them. This also pushes rates higher. Additionally, global monetary policy seems like it may be on the verge of a unified tightening, much like there was unified loosening in 2008-2015. A removal of policy accommodation means big central banks are buying fewer bonds. Lower demand for bonds = lower prices = higher rates. Finally, some traders are simply reacting to the momentum--selling bonds when rates rise above a certain threshold intraday (again, selling = higher rates), thus creating a snowball effect that pushes rates higher.
The bottom line is that there is a big, pervasive uptrend in rates that's been intact since mid December. Floating and hoping for a bounce is not the right strategy at the moment, even though it will end up looking like a good idea in hindsight one of these days. We need to see a substantial push back in the other direction--and one that lasts for more than a day or two--before considering the uptrend may be getting tired.
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Thanks again to Patrick for sending this to us, from <a href="http://www.mortgagenewsdaily.com/mortgage_rates/">Mortgage News Daily</a>!
Got questions? Ask away!
You can also contact Patrick via email psteele@twmortgage.com or via phone:Office: <a href="tel:(757)%20690-8046" target="_blank">757-690-8046</a> | Cell <a href="tel:(757)%20287-9082" target="_blank">757-287-9082</a> 2018-02-02T21:37:00-07:002020-11-24T21:38:11-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6365Special Report: Company Culture - Environments of Retention, Productivity and Happiness
Wow, this was almost eerie reading this, Inman!
It is so spot on, and completely highlights our move to The Real Estate Group (TREG).
Looking for a great place to be? Hit us up with your questions, we can tell you exactly why we made our move... this blog gives a pretty accurate highlight on what brought us to TREG!
Special report: the keys to a strong company culture
Creating an environment that promotes retention, productivity and happiness
<article id="post-655083" class="post-655083 post type-post status-publish format-standard has-post-thumbnail hentry category-agent category-analysis category-brokerage category-exclusive-to-inman category-select category-special-reports tag-agent-networking tag-all-hands-meetings tag-anthony-hitt tag-berkshire-hathaway-homeservices tag-ceo tag-ceo-engel-volkers-americas tag-coldwell-banker tag-commission-splits tag-company-culture tag-digital-age tag-diversity tag-douglas-elliman tag-exp-realty-founder tag-exp-world-holdings tag-facebook-groups tag-glenn-sanford tag-inman-special-report-real-estate-company-culture tag-keller-williams tag-rapid-growth tag-remax tag-remote-working tag-sexual-harassment tag-tangible-benefits tag-workplace-by-facebook">
BY <a class="author-name-link staff-author author vcard" href="https://www.inman.com/author/gsouth/">GILL SOUTH</a> Staff Writer
Key Takeaways
Nearly three-quarters of real estate pros believe culture is “very important” to a company's financial success.
Close to 60 percent of real estate pros said they were “very happy” with the culture of their company, which they were likely to describe as “positive” and “agent-first.”
The freedom to work in different settings with flexible hours (without compromising regular communication with management) is shaping strong cultures today.
Brokerage leaders must work to attract agents to networking and training events to maintain a healthy culture.
Management must lead by example and suit their actions to their words and values.
Real estate firms large and small are presented with the unique challenge of creating a sense of unity and pride among their agents who aren’t even employees, but <a href="https://www.inman.com/2016/01/18/real-estate-independent-contractor-lawsuits-explained/">independent contractors</a> with a lot more freedom.
Enter the idea of <a href="https://www.inman.com/2016/01/28/company-culture-what-is-it-exactly/">company culture</a>, the focus of Inman’s latest Essential Guide, exploring what real estate professionals value most in their work environment and how leaders can foster a culture that promotes retention, productivity, happiness and a positive image.
Culture manifests in many different forms: flat or hierarchical, innovative or stodgy, collaborative or siloed. It’s created through a shared set of values, everyday interactions between coworkers and management, gestures both large and small, technological offerings and support, communication style, training opportunities and key decisions. A strong culture, which may be less obvious to the naked eye than a bad one, is something that an organization must continually work to shape, improve and live out.
<img class="wp-image-657411 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.40.47-PM.png" alt="" width="445" height="387" />
Inman Survey: Real Estate Company Culture
There was no doubt among respondents to Inman’s survey about the significance of culture; nearly three-quarters said they believe culture is “very important” to a company’s financial success.
When asked if they thought their company had its own culture, an overwhelming number of respondents — 87 percent — said yes. The majority considered their culture to be strong already but said that an improved culture would further bolster their desire to stay where they are.
“Whether a person is defined by the IRS as a self-employed contractor or an employee, it is unimportant when it comes to culture,” said a Louisiana agent. “Culture is the glue that binds associated professionals together and helps maintain a sense of inclusion, support and camaraderie.”
Yet culture will be constantly challenged in a dynamic business environment. In the digital age, broker-owners and managers have to work harder to bring their agents together for opportunities to connect, such as <a href="https://www.inman.com/2017/08/02/when-happy-hour-is-market-power-agents-social-club-heats-up-miami-neighborhood/">networking events</a> or social gatherings. Additionally, as many brokerages around the country experience fast and exciting growth, leadership must preserve a sense of culture amid the changes and momentum.
<img class="wp-image-657424 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.03-PM.png" alt="" width="519" height="433" />
Inman Survey: Real Estate Company Culture
Red flags such as agents rarely coming into the office, poor communication in a remote setting, a few negative associates or teams in the mix or a managing broker who is never available may be signs of trouble that, left unaddressed, can have a profound effect on the health of your business. And while a national brand may have an admirable set of values and mission statement, if the local office isn’t “walking the walk,” its managers need to step up or risk creating a disjointed environment that leads to costly turnover.
“When people are happy, they are more productive, and there is less turnover,” said Anthony Hitt, CEO of Engel & Völkers Americas, the global luxury real estate franchise, in an interview with Inman. “Turnover costs money and takes away from efficiencies when you have to retrain and rebuild. With a strong culture of positive, productive individuals, you attract similar talent. If people aren’t happy, that not only affects them, but the people around them and can certainly impact the bottom line.”
<img class="size-full wp-image-657421" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.30-PM.png" alt="" width="890" height="311" />
Inman Survey: Real Estate Company Culture
Positive, agent-first, tech-focused: The picture of a modern brokerage
Real estate pros overwhelmingly expressed praise for their own company’s culture, with nearly 77 percent describing their workplace culture as “strong” or “very strong.” There was no clear consensus on who had the culture edge between franchisors or independent firms — 18 percent said indie and 6 said franchisor — but over half believe the strength of a culture is dependent on the specific company.
Respondents cited easy access to managers, a relaxed yet professional environment, a family feel and transparency as aspects that made their culture stronger. They appreciated their companies’ “forward-thinking” mindset, commitment to keeping up with the times and focus on technology training. Eighty percent said they were content with their current commission split, with the majority of agents at 70/30, or at an office where splits vary among agents.
<img class="wp-image-657423 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.10-PM.png" alt="" width="523" height="391" />
Inman Survey: Real Estate Company Culture
Close to 60 percent said they were “very happy” at their company, with 24 percent describing themselves as “happy,” and 12 percent as “neutral.” Just a small sliver — 5 percent — reported feeling “unhappy” or “very unhappy” at their place of work. Nearly three-quarters said that culture contributed to their happiness at work “a lot.”
<img class="wp-image-657422 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.16-PM.png" alt="" width="549" height="384" />
Inman Survey: Real Estate Company Culture
“People thrive within cultures in which they feel safe to express themselves, are encouraged to take the next steps in their careers and one that fosters collaboration,” said Hitt of Engel & Völkers Americas. “We are all in this together, and there’s a lot to learn from our peers.”
According to the survey, the majority of brokerages seem to be on the right track, with 68 percent of respondents describing their company culture as “positive,” 57 percent as “agent-first,” 50 percent as “technology-focused” and 47 percent as “innovative.”
<img class="wp-image-657420 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.37-PM.png" alt="" width="655" height="385" />
Inman Survey: Real Estate Company Culture
The “little things” at work played a big role in many respondents’ level of satisfaction. As one agent based in Georgia expressed: “From the random thank-you notes on your desk to the invites to out of work events, there is definitely a joy around my current office compared to the graveyard feelings in offices of yesteryear.”
Respondents also felt strongly about their companies giving back to the community. A number of Keller Williams agents highlighted their pride in the company’s KW Cares charity arm, for instance.
Diversity in age, gender and ethnic backgrounds was another important element of culture to a number of respondents, with 55 percent describing their workplace as “very diverse” (that dropped to 27 percent when it came to respondents describing the diversity of company leadership). Still 72 percent felt their company valued diversity and was striving for a diverse workforce.
<img class="wp-image-657419 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.43-PM.png" alt="" width="479" height="385" />
Inman Survey: Real Estate Company Culture
“Our diverse age group ranging from 28 to 82 feels like a family with agents across the age gap,” said a broker-owner from Washington state. “We help each other and celebrate each other’s successes.”
What contributes to culture in a real estate office?
We asked respondents to share the tangible benefits their company provides that may contribute to culture. The most commonly cited were the option to work remotely (88 percent), a bricks-and-mortar office space (87 percent) and flexible hours (76 percent) — indicating that giving agents the freedom to work in different settings at varying hours is the norm in real estate.
<img class="size-full wp-image-657418" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.41.50-PM.png" alt="" width="720" height="527" />
Inman Survey: Real Estate Company Culture
At the same time respondents indicated that many real estate offices are highly social and collaborative, with all-hands meetings (63 percent), parties for staff unrelated to business (53 percent), a Facebook group for employees (53 percent) and team-building activities in the workplace (53 percent) cited as the top activities/offerings that influence their culture.
Moreover as more agents work remotely, we asked how companies were helping their agents continue to network and get to know each other. Respondents mentioned a wide range of events being run by their brokerages, inside and outside the office, including group coaching, weekly training sessions, continuing education classes, yoga and field trips, among others.
<img class="size-full wp-image-657416" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.42.10-PM.png" alt="" width="770" height="531" />
Inman Survey: Real Estate Company Culture
“Every brokerage can have technology, lead generation and education, but it is how they package all those things together in its mission that can make the difference between companies,” advised a Florida broker-owner.
Technology has made it possible to connect associates in a remote setting; as an example, cloud-based brokerage eXp Realty has an online campus for training and recently started leveraging Workplace by Facebook as a communication tool for its more than 6,500 agents across the country.
“We now have hundreds of (Workplace by Facebook) groups spontaneously built by agents and brokers from eXp on wellness, lead generation, working with buyers and sellers, corporate, watercooler,” said Glenn Sanford, founder of eXp Realty and CEO of eXp World Holdings. “That plus our virtual world, means it is a very palpable culture.”
<img class="size-full wp-image-657417" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.42.02-PM.png" alt="" width="538" height="363" />
Inman Survey: Real Estate Company Culture
Support and training on the job
In-office training and support are also critical to a company’s culture. The most popular types of support companies are providing to real estate pros include technology (87 percent), training in contracts (80 percent), transaction management support (72 percent) and training in procedures of your market (70 percent). A little over half said their office had safety training.
“We do training every two weeks where we also open up with questions that are outside of the work environment, such as: ‘What was your favorite date you ever went on? If you could own any building, which one would it be?’” shared a a Re/Max executive manager in Seattle. “It helps people learn stuff about each other and find commonalities.”
<img class="wp-image-657415 size-full" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.42.16-PM.png" alt="" width="706" height="427" />
Inman Survey: Real Estate Company Culture
Safety training or support often comes in form of classes at the firm, self-defense training and a clear policy of best practices. Another popular effort being made by brokerages was bringing in law enforcement experts to talk to their office about safety on a regular basis and making a manager available to agents for any concerns or questions.
The survey indicated that the heightened awareness and conversation surrounding sexual assault and harassment in the workplace is leading a number of companies to take a closer look at their policies. While nearly 96 percent of respondents said they did not worry about sexual harassment in their workplace, 4 percent did. Over 37 percent of respondents said their company had a procedure in place for reporting instances of misconduct, while nearly 50 percent were not sure and 13 percent did not.
<img class="size-full wp-image-657414" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.42.22-PM.png" alt="" width="584" height="384" />
Inman Survey: Real Estate Company Culture
Company procedure often entails reporting the issue to a third party or talking to management, said those in the survey. A number of respondents — particularly those with women managers — said their office was one of “zero tolerance” in this area.
<img class="size-full wp-image-657425" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.40.56-PM.png" alt="" width="571" height="270" />
Inman Survey: Real Estate Company Culture
A constant work in progress
Generally, culture should be well-defined and clearly expressed by leadership both internally and to the outside world; it requires constant attention, with regular reviews and updates. Management must lead by example and suit their actions to their words and values. “We need caring, engaged leadership, not lip service,” commented a Montana broker.
Respondents were adverse to a culture that felt “overwhelming” or was tainted by drama, the prioritization of quantity over quality, elitism, a hierarchical structure or management that was viewed as secretive. While inaccessible managing brokers were reported as a problem, so were “helicopter brokers” who were overly involved.
<img class="size-full wp-image-657412" src="https://www.inman.com/wp-content/uploads/2018/01/Screen-Shot-2018-01-26-at-6.42.29-PM.png" alt="" width="712" height="418" />
Inman Survey: Real Estate Company Culture
Moreover, “culture needs to be explained at hiring, not after,” said a broker in Southern California. “I see that misstep as an issue more often than not. It ruins the atmosphere and attitude of all involved.”
Hitt of Engel & Völkers Americas understands the importance of this, and thinks it’s wise for leaders to slow down and spend time describing their culture to prospective agents and brokers to ensure they are a good fit early on.
Finally as businesses expand, merge, acquire and grow, blending different cultures can prove thorny but not impossible. “We recently combined four separate offices, that each had their own culture, into one,” shared a Nebraska broker. ”We are working to build an environment that fosters an attitude of helping one another, building each other up, focuses on life work balance and open communication.”
The survey was conducted between Jan. 5 and Jan. 10, 2018. Of the 950 respondents, 537 (56.52 percent) identified themselves as Realtors or real estate sales agents, 206 (21.69 percent) identified themselves as brokers or broker-owners, 106 (11.16 percent) identified themselves C-Level Executive Management, and the rest identified as a mix of technology management, brokerage marketing team members, franchise owners and more.
Article image credited to Nastuh Abootalebi on Unsplash
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Thoughts? Questions? Comments?
Reach out to us... we'd love to hear from you! :)
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
</article>
2018-02-02T21:35:00-07:002020-11-24T21:37:13-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:63672 Major Myths Holding Back Home Buyers Yet another fantastic write up from <a href="https://www.keepingcurrentmatters.com/2018/01/30/2-major-myths-holding-back-home-buyers/">Keeping Current Matters</a>!
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Urban Institute recently released a <a href="https://www.urban.org/sites/default/files/publication/94801/barriers-to-homeownership-down-payments-credit-access-and-affordability_2.pdf">report</a> entitled, “Barriers to Accessing Homeownership,” which revealed that “eighty percent of consumers either are unaware of how much lenders require for a down payment or believe all lenders require a down payment above 5 percent.”
Myth #1: “I Need a 20% Down Payment”
Buyers often overestimate the down payment funds needed to qualify for a home loan. According to the same report:
“Consumers are often unaware of the option to take out low-down-payment mortgages. Only 19% of consumers believe lenders would make loans with a down payment of 5% or less… While 15% believe lenders require a 20% down payment, and 30% believe lenders expect a 20% down payment.”
These numbers do not differ much between non-owners and homeowners; 39% of non-owners believe they need more than 20% for a down payment and 30% of homeowners believe they need more than 20% for a down payment.
While many believe that they need at least 20% down to buy their dream home, they do not realize that programs are available that allow them to put down as little as 3%. Many renters may actually be able to enter the housing market sooner than they ever imagined with programs that have emerged allowing less cash out of pocket.
Myth #2: “I Need a 780 FICO® Score or Higher to Buy”
Similar to the down payment, many either don’t know or are misinformed about what FICO® score is necessary to qualify.
Many Americans believe a ‘good’ credit score is 780 or higher.
To help debunk this myth, let’s take a look at Ellie Mae’s latest <a href="https://static.elliemae.com/pdf/origination-insight-reports/Ellie_Mae_OIR_DECEMBER2017.pdf">Origination Insight Report</a>, which focuses on recently closed (approved) loans.
<a class="lightbox-added alignnone" href="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/01/24165209/20180130-KCM-ENG.jpeg"><img class="alignnone wp-image-2059889" src="https://files.keepingcurrentmatters.com/wp-content/uploads/2018/01/24165209/20180130-KCM-ENG.jpeg" alt="2 Major Myths Holding Back Home Buyers | Keeping Current Matters" width="550" height="413" /></a>
As you can see in the chart above, 53.5% of approved mortgages had a credit score of 600-749.
Bottom Line
Whether buying your first home or moving up to your dream home, knowing your options will make the mortgage process easier. Your dream home may already be within your reach.
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Was this information helpful? New to you or something you already knew? Let us know what you think!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-01-27T21:38:00-07:002020-11-24T21:39:26-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6368The Cost of NOT Owning Your HomeAgh, did that title pull you in?! Check out this sage advice from our friends at Keeping Current Matters:
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Owning a home has great financial benefits, yet many continue to rent! Today, let’s look at the financial reasons why owning a home of your own has been a part of the American Dream for as long as America has existed.
Zillow recently reported that:
“In reality, buying or renting a home is an intensely personal decision, with emotional and even financial considerations that go beyond whether to invest in this one (admittedly large) asset. Looking strictly at housing market numbers, there is a concrete point at which buying a home makes more financial sense than renting it.”
What proof exists that owning is financially better than renting?
1. We recently highlighted the top 5 financial benefits of homeownership:
Homeownership is a form of forced savings.
Homeownership provides tax savings.
Homeownership allows you to lock in your monthly housing cost.
Buying a home is cheaper than renting.
No other investment lets you live inside of it.
2. Studies have shown that a homeowner’s net worth is 44x greater than that of a renter.
3. Just a few months ago, we explained that a family that purchased an average-priced home at the beginning of 2017 could build more than $48,000 in family wealth over the next five years.
4. Some argue that renting eliminates the cost of taxes and home repairs, but every potential renter must realize that all the expenses the landlord incurs are already baked into the rent payment– along with a profit margin!!
Bottom Line
Owning a home has always been, and will always be, better from a financial standpoint than renting.
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How does that all sound to you?
Got questions? Contact us!
As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.2018-01-25T21:39:00-07:002020-11-24T21:40:30-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6369Feeling 'STUCK' in Place...? You Aren't Alone... and There's Hope!How true that headline will ring for so many people....! But... it's true. There's hope!
Check out this great write up from our friends at <a href="https://www.keepingcurrentmatters.com/2017/11/15/feeling-stuck-in-place-you-arent-alone-and-theres-hope/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost">KCM</a>, and let us know what you think in the comments!
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Whether you are a renter who is searching for your dream home or a homeowner who feels like your only option is to renovate, you have at least one thing in common: feeling stuck in place.
According to data from the National Association of Realtors’ Profile of Home Buyers & Sellers, the average amount of time that a family stays in their home remained at 10 years in 2017. This mark ties the highest marks set in 2014 and 2016. Back in 1985, when data was first collected on this subject, homeowners stayed in their homes for an average of only 5 years.
There are many reasons why homeowners have decided to stay and not to sell. A recent Wall Street Journal <a href="https://www.wsj.com/articles/stuck-in-place-u-s-homeowners-hunker-down-as-housing-supply-stays-tight-1509274802">article</a> had this to say,
“Americans aren’t moving in part because inventory levels have fallen near multidecade lows and home prices have risen to records. Many homeowners are choosing to stay and renovate, in turn making it more difficult for renters to enter the market.”
Sam Khater, Deputy Chief Economist for CoreLogic, equated the lack of inventory to “not having enough oil in your car and your gears slowly [coming] to a grind.”
Historically, a normal market (in which prices increase at the rate of inflation) requires a 6-7 month supply of inventory. There hasn’t been that much supply since August of 2012! Over the course of the last 12 months, inventory has hovered between a 3.5 to 4.4-month supply, meaning that prices have increased and buyers are still out in force!
Challenges in the new-home construction <a href="https://www.keepingcurrentmatters.com/2017/06/21/the-supply-demand-problem-plaguing-new-construction/">market</a> have “helped create a bottleneck in the market in which owners of starter homes aren’t trading up to newly built homes, which tend to be pricier, in turn creating a squeeze for millennial renters looking to get into the market.”
“Economists said baby boomers also aren’t in a hurry to trade in the dream homes they moved into in middle age for condominiums or senior living communities because many are staying healthy longer or want to remain near their children.”
So, what can you do if you feel stuck & want to move on?
Don’t give up! If you are looking to move-up to an existing luxury home, there are deals to be had in the higher-priced markets. Demand is strong in the starter and trade-up home markets which means that your house will sell quickly. Work with your real estate professional to build in contingencies that allow you more time to find your dream home; the right buyer will wait.
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As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-01-07T21:40:00-07:002020-11-24T21:41:26-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6370Our Monthly $100 Visa Gift Card Drawing Is BACK!Yes, friends: It's BACK!
For those new to this game, every open house we do comes with a chance to win a $100 Visa gift card!
Sign in at the open house and get your name thrown into a monthly drawing, with no limits on how many times you can enter.
Open house near your home? Stop by and enter!
Open house near your work? Stop by and enter!
Open house near your family's favorite ice cream place? Stop by and enter!
Visit every single open house we do in a month and really up your chances to WIN.
But you can't win if you don't ENTER.... so be sure to keep an eye out on our social media for our open house posts to see where all you can stop in and get signed up for your chance to win (and of course check out some great homes as well.)
Not looking for a home right now? No reason you can't stop by to enter for your chance to win.
And you never know when you might find a house perfect for someone you know in your world, otherwise :)
See you soon... and good luck!
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As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>. 2018-01-03T21:41:00-07:002020-11-24T21:42:32-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6372BIG CHANGES! Hampton Roads’ most powerful home marketing machine has MOVED.
Yes, you read that right: The team that has helped thousands of families move in, out and around the area, has moved, as well. <br /><br />Yes: Even real estate teams move!
After more than 20 years at Rose & Womble Realty, we've made the move to The Real Estate Group (TREG), bringing with us over 100 years of combined real estate experience and excitement for what this change brings to our personal client experiences.
For years, The Perfect House Team stood as the #1 Sales and Listing Team at Rose & Womble, one of the top firms in the Hampton Roads area.
But with time comes a need for change, especially with emerging technologies at the forefront of what our clients truly need . In our research on the viability of the move, and in our experience working with TREG agents, we found that TREG is truly on the cutting edge of new developments in real estate here in Virginia and North Carolina.
How does this affect our clients?
We are still providing the same personal service, but with an upgraded technology that takes our elite team to an entirely different echelon of marketing abilities.
As always, our clients are #1 for us, which is no doubt a reason we’ve been #1 for years here in Hampton Roads. We will continue to expect no less than excellence in our transactions and interactions, from the initial consultation with our clients to the closing table.
Thus we are excited to make this announcement.
You may have visited us at our previous office, at the corporate headquarters of Rose & Womble, located at S. Plaza Trail and Holland Rd.
Our new office is at 112 Eden Way North, near the Greenbrier Mall.
Otherwise, please note our contact information has not changed, as far as emails and cell phones.
We are also still servicing Virginia and North Carolina, with connections throughout the United States and beyond, with the ability to find a great agent for your needs where ever you may be. None of that has changed!
You can reach us through our website here at <a href="https://www.perfecthouse.com/">www.PerfectHouse.com</a>, through our social media and also via phone call or text at 757-335-6111.
As always, thanks for stopping in to see how we are doing here on our blog! <br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>2018-01-02T21:45:00-07:002020-11-24T21:46:53-07:00Bob Barnumtag:perfecthouse.com,2012-09-20:6371Thinking About Buying? Know Your CREDIT Score.The honest truth is.... You should know your credit score. But let's be honest,
Wondering why, or even what to do if it isn't so stellar?
Read this great piece by our friends over at <a href="https://www.keepingcurrentmatters.com/2017/11/01/thinking-about-buying-know-your-credit-score/?utm_campaign=Blog_Promo&utm_medium=email&utm_source=email-automated&utm_content=DailyBlogSubscription&utm_term=BlogPost">KCM:</a>
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Knowing your credit score or getting a recent copy of your credit report is one of the first steps that you can take toward knowing how ready you are to start the home buying process.
Make sure all the information listed on your report is accurate and work to correct any mistakes. The higher your credit score, the more likely you will be to receive a better interest rate for your mortgage, which will translate into more ‘home for your money.’
Many potential buyers believe that they need a 750 FICO® Score or higher to be able to purchase a home. The truth is that according to <a href="https://static.elliemae.com/pdf/origination-insight-reports/Ellie_Mae_OIR_SEPTEMBER2017.pdf">Ellie Mae’s Origination Report</a>, over 53% of loans were approved with a FICO® score under 750 last month!
Here are some tips for improving your credit score:
Make payments, including rent, credit cards, and car loans, on time.
Keep your spending to no more than 30% of your limit on credit cards.
Pay down high-balance credit cards to lower balances, and consider balance transfers to free up credit.
Check for errors on your credit report and work toward fixing them.
Shop for mortgage rates within a 30-day period — too many spread-out inquiries can lower your score.
Work with a credit counselor or a lender to improve your score.
Once you know your score, your next step will be finding a lender and getting <a href="https://www.keepingcurrentmatters.com/2017/06/27/pre-approval-should-always-be-your-first-step/">o</a>re-approved for a mortgage. Doing this will ensure that you know your budget before you start looking for your dream home.2018-01-02T21:43:00-07:002020-11-24T21:44:07-07:00Perfect House Teamtag:perfecthouse.com,2012-09-20:6373Virginia Beach: Taxes
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So we know we have to pay taxes, but what all does that mean? And who do you pay them TO? Many of these questions can and should be explained by your mortgage professional before during and after closing, but we'd also like to end you to the source and give you the place to look, otherwise.
Many of our clients, past/present/future chose to live in Virginia Beach, thus we see it as informative to share the Virgiina Veach website information on taxes:
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The City Treasurer now offers <a href="http://cvb.manatron.com/Default.aspx">online public access to Real Estate Tax Information</a>.
Search by Primary Owner Name, Parcel Number, or Situs/Property Address.
The following data will be available to view and/or print:
Parcel ID
Original Due Date
Current Primary Owner Name
Base Tax Due
Current Primary Owner Mailing Address
Penalty/Fee Due
Situs/Property Address
Interest Due
Legal Description
Total Due
Real Estate Tax Bill Number
Limited Payment History
If you believe any real estate tax information is inaccurate or if you have any comments about this online real estate tax search, we would like to hear from you. See our contact information available to the left. Try it out by clicking Real Estate Tax Search' on your right. The fiscal year (July 1st to June 30th) real estate tax is billed in two parts by the City Treasurer. The first half payment is due December 5th and covers from July 1st through December 31st of the current year. The second half payment is due June 5th and covers from January 1st through June 30th of the current year. If the due date falls on a weekend, the deadline is extended to the following Monday.
With many homeowners, real estate taxes are paid by their mortgage company from funds in the owner's escrow account and therefore the bills are sent to the mortgage company on file. If you have changed mortgage companies or paid off your mortgage, please notify us so that we can ensure the correct mailing of the bill. For those property owners that do not have an escrow account with a mortgage company, the City Treasurer is responsible for preparing, mailing, and collecting the taxes.
All mailings are prepared in advance to be placed in the mail on the Friday before the preceding months 5th date. This allows our citizens an extended time period to pay, over and above the State mandated 14 day billing period requirement.
Partial payments, including advance payments are accepted and encouraged by the Treasurer if you are not able to pay your bill in full by the due date. However, payments not received or post marked by the due date are assessed with a penalty of 10% of the total tax or $10 whichever is greater, but not to exceed the amount of the bill plus interest at 9.6% per year. Pending reductions to your tax bill do not excuse you from the required penalty and interest charges for late payments.
Delinquent Real Estate
Any payment received by the Treasurer shall be credited first against the most delinquent account, allowed under <a href="http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+58.1-3913">State Code 58.1-3913</a>.
When Real Estate taxes becomes delinquent by three years plus the current tax year, the Treasurer's Office is allowed under <a href="http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+58.1-3924">Code of Virginia 58.1-3924</a> to advertise a list of properties which include the owners name of record (as of the date of assessment) in the Newspaper. A $25.00 Advertising fee will be charged once the ad has been placed.
Should the taxes remain unpaid on June 30th of the current fiscal year; further legal activity will result in taxes being turned over to a law firm for collection. At this time attorney fees will be charged. A lien may be recorded in the Clerk's Office of the Virginia Beach Circuit Court. Upon recordation of this lien, the City may proceed to collect these taxes by any legal means available including offering the property for sale.
If your bill is covered by bankruptcy, please notify us at (757)385-4701.
Commissioner of Revenue and Real Estate Assessor Duties
The Commissioner of Revenue's (COR) Office is now responsible for the Real Estate exemption and freeze programs. Visit <a href="https://www.vbgov.com/government/departments/commissioner-of-the-revenue/Tax%20Relief/Pages/tax-relief-and-exemption-programs.aspx">here</a> for a list of Tax Relief Programs administered by the COR.
The assessment of your property is determined by <a href="https://www.vbgov.com/government/departments/real-estate-assessor">Real Estate Assessor's </a>(REA) Office. If you have questions regarding your assessment please visit the REA website. If the REA finds that you were billed erroneously and your bill is reduced and a refund is determined to be due, the City Treasurer will first determine that no other City funds are delinquent and then prepare a refund. Based on<a href="http://leg1.state.va.us/cgi-bin/legp504.exe?000+cod+58.1-3913">Code of Virginia 58.1-3913</a>, any tax or other charge that is delinquent must be collected prior to the issuance of a refund. The refund process takes approximately 4 weeks.
Transfers of ownership, updates, and maintenance of property ownership records are performed by the Real Estate Assessor's Office using deeds, wills and plats recorded with the Clerk of the Circuit Court.
CONTACT INFORMATION
City Treasurer - Real Estate
<a title="phone number" href="tel:7573858258">(757) 385-8258</a>
<a title="email address" href="mailto:vbre4you@vbgov.com">vbre4you@vbgov.com</a>
<a title="fax number">(757) 385-6399</a>
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As always... thanks for stopping in and seeing how we're doing here on our blog...<br />Come get SOCIAL with us... be sure to <a href="https://www.facebook.com/PerfectHouseTeam/">LIKE our Facebook</a> page and <a href="https://www.instagram.com/perfecthouseteam/">FOLLOW us on Instagram</a>.
2018-01-01T21:47:00-07:002020-11-24T21:47:50-07:00Bob Barnum