A recent study revealed that the number of existing home ownersplanning to buy a home this year is about to increase dramatically. Some are moving up, some are downsizing and others are making a lateral move. Another study shows that over 75% of these buyers will, in fact, be in that first category: a move-up buyer. We want to address this group of buyers in today’s blog post.

There is no way for us to predict the future but we can look at what happened over the last year. Let’s look at buyers that considered moving up last year but decided to wait instead.

Assume they had a home worth $300,000 and were looking at a home for $400,000 (putting 10% down they would get a mortgage of $360,000). By waiting, their house appreciated by 13.8% over the last year (national average based on the Case Shiller Pricing Index). Their home would now be worth $341,400. But, the $400,000 home would now be worth $455,200 (requiring a mortgage of $409,680).

Here is a table showing what additional monthly cost would be incurred by waiting:

Prices are projected to appreciate by over 4% and interest rates are also expected to rise by as much as another full percentage point. If your family plans to move-up to a nicer or bigger home this year, it may make sense to move now rather than later.

by The KCM Crew on February 25, 2014 in For Buyers, Interest Rates

Originally published January 29, 2014 at 11:25 PM | Page modified January 29, 2014 at 11:55

Many are turning back the clock when it comes to cleaning and rediscovering old-time cleaning recipes — many of them used before the advent of the synthetic formulas widely available after World War II.

Q: What home-cleaning products are safe for the environment?

A: There is a greater awareness among homeowners that chemicals in commercial home-cleaning products can have negative effects on personal health — not to mention the environment.

Many are turning back the clock when it comes to cleaning and rediscovering old-time cleaning recipes — many of them used before the advent of the synthetic formulas widely available after World War II.

Believe it or not, you can handle nearly all of your day-to-day cleaning with just seven easily available, inexpensive, environmentally benign ingredients: baking soda, washing soda, soap flakes, oil soap, vinegar, borax and ammonia. And of those, only ammonia is potentially hazardous in its concentrated form. Just use it carefully, and store it out of the reach of children and pets.

Kitchens and baths

Instead of using commercial products to clear your kitchen sinks, faucets and drains, give baking soda a try. Just dampen with water and apply it the same way you would with scouring products. Unlike bleach and phosphates, which are common ingredients in commercial cleaning products, baking soda isn’t toxic to the environment and won’t kill the bacteria that sewage and septic systems need to work properly.

When baking soda is combined with vinegar, it produces an impressive foaming reaction. Pour a cup or more of vinegar into the toilet bowl, and then toss in a handful of baking soda. The combination will strip off hard-water lime deposits if you leave it for a while.

Vinegar and baking soda are also effective for cleaning drains. Dump a handful of baking soda into the drain, then pour in a big shot of vinegar and put the plug in to drive the carbon dioxide down the pipe. Keep the plug in until the fizzing stops, and then run hot water down the drain. Not only does it clean and clear pipes, it also eliminates the need for corrosive cleaners.

Vinegar by itself is terrific for cleaning faucets. And mixed with warm water, it’s your secret weapon if you have to deal with the occasional pet stain on carpeting. Combine equal parts vinegar and water and wipe pet stains away. It also works on linoleum that isn’t heavily soiled.

Laundry rooms

A mixture of one part borax, one part washing soda and one part soap flakes (about three-fourths of a cup of the mix per normal load) will work as well as any detergent. It is especially effective and kind to natural fabrics. Be sure to start by running all of your clothes through a cycle with washing soda only, which removes detergent residue. Otherwise, your whites could look yellowed.

White clothes that contain synthetic materials can yellow slightly over time with this formula, but you can counteract that by line-drying your whites in the sun now and then. Sunshine is the oldest and best bleach and disinfectant of them all.

Mother, grandmother and great-granny really did know best.

HomeWork is the weekly column by the Master Builders Association of King and Snohomish Counties’ Remodelers Council about home care, repair and improvements. If you have questions about home improvement, send them to homework@mbaks.com.

http://www.foxbusiness.com/personal-finance/2014/01/31/5-things-to-ask-your-real-estate-agent/

Selling a home can be difficult — you probably want to sell in a certain time frame and for the maximum price. For most of us, it represents one of the biggest financial transactions of our lifetimes, and it can help to have expert guide us through the process. A knowledgeable and trustworthy real estate agent can be a huge asset — and you want to do a thorough screening to get the best match for you.

You’ll want to ask about commission, of course, but it doesn’t stop there. Here are five questions that you should ask your potential real estate agent.

1. What’s Your Experience Like?

This is an important question because it will tell you how long the agent has been selling homes and what kinds of of properties they usually deal with (condos or single-family homes, or in-town or suburban). It’s important to find someone who not only has years of experience, but someone who is familiar with the neighborhoods you’re interested in and often sells homes in your price range.

2. May I See Your References?

Just as when you’re hiring a new employee, it’s important to check up on your real estate agent’s references. You should call every one of them. Ask what it was like to work with this person on a day-to-day basis. Was the agent easy to reach? Would you hire him again? Did she follow up with you regularly? Most real estate agents will give out their best references so don’t be afraid to ask the tough questions in order to get the most honest responses.

3. How Many Clients Do You Have?

Asking this question should give you a good idea of how much time your agent will have for you. You don’t want a real estate agent with too many clients nor do you want one with too few. The latter could be a bad sign since no one else seems willing to hire her. (On the other hand, seasonal fluctuations are normal.)

If you’re worried that your real estate agent might have too many clients or not enough time for you, ask if he works independently or with a team. A good agent will generally have a solid support staff to handle the routine tasks.

4. What Can You Tell Me About Growth Trends?

One of the biggest strengths real estate agents can bring to the table is their ability to analyze trends in the housing market. Anyone can go on Redfin or Zillow and look up homes for sale, but how do you know what is or isn’t a competitive price? Some ZIP codes might turn from a bustling metropolis to a forgotten foreclosure town in just a few years so it’s important to hire an agent who pays close attention to growth and price trends and can help you set an appropriate asking price.
5. What’s Your Success Rate?

The Internet has made it easy to look up your real estate agent’s sales records but don’t be afraid to ask. One thing you could ask for is the agent’s list-to-selling-price ratio. This ratio is found by comparing the list price to the selling price. But don’t get too caught up in this number, make sure to vet his or her other success metrics too.