Children see moves differently than their parents do, and they benefit much less from the change in their comfortable routines – or so it seems at the time. Most often, a change in houses or communities heralds an important step forward for the adult members of the family. The family moves because Daddy or Mommy has a great new job, or a promotion in reward for years of hard work. They move because financial success has allowed the purchase of a bigger and nicer house in a more costly neighborhood. They move because they can finally afford private bedrooms for each child and perhaps a pool in the back yard.
Nowadays, mobile and hard-striving people typically live in a house for about five years and then move on as their careers or fortunes allow. That short time span is only a small percentage of the life-to-date for a 30- or 40-year-old, but the same five years is half the lifetime of an 10-year-old, and it includes almost all the years he or she can remember. To a parent, this house may only be the place they have lived recently. They think of it as a way station on the road of life. To kids, however, it may be the only home they have ever really known. This is their house, the place they feel safe and comfortable.
A house is much more than a roof and walls to a child. It is the center of his or her world. A move threatens to take that sphere away and leave something totally strange in its place. The familiar friends, schools, shops and theaters, the streets, trees and parks – all will no longer exist for them. Everything will soon be strange, and they will live in someone else’s world.
The impact of a move on a typical child starts about the time he or she first hears that a parent has accepted a promotion, and often continues for about a year, until the new house becomes home, and memories of the previous place fade. It’s not usually necessary to announce this big change to children immediately, although they must hear about it from you before someone else breaks the news. Most teenagers see themselves as adult members of the family, and will probably feel they have been left out if they don’t hear everything from the first day.
But it is probably not a good idea to tell toddlers and preschoolers until they have to know. There is no point in making them worry far in advance. Be sure to announce the move in a totally positive way. You might say how proud you are that Daddy’s company has chosen him out of many other employees to manage a new office in Cleveland. Talk about what a beautiful city Cleveland is, how good the schools are and how nice the people are.
Tell truthful but very positive stories about how nice the new house will be. Ask them what the favorite things are in their lives now, and then try to make them happen in the new home. If the new home is too far away to allow a visit by the entire family after it has been selected, show the children pictures of it from every angle. Videotape it, if you can. Emphasize the positive views and be sure to include pictures of each child’s new room. Try to name the house with some romantic description, like “Oak Hill” for the big trees and the sloping lawn. Sugarcoating will help, but since children can quickly see the negative sides of most situations, every parent must plan to deal with their child’s worries, fears and sorrows. The children will lose friends they may have known all their lives. They will leave behind their sports teams, their clubs and their dancing teachers. They will have to start over in a new place, making friends, becoming accepted, and fitting into different groups.
Younger children need protection from fear of the unknown. Listen carefully to their concerns, and respond quickly to allay their apprehensions. It would be normal, for instance, for a young child to worry that his or her toy box and shelf of stuffed animals might be left behind. Find those anxieties and correct them. Probably the best tactic is to get the children actively involved in the whole process. Don’t just promise to let them decorate their own rooms, for example. Take them to the paint store and let them bring home color swatches. Shop for bed spreads and towels and carpets. They must leave old friends behind, so find ways to make that parting almost pleasant. Plan a going-away party and let them invite their own guests. Take pictures of everyone and make a photo album. If a child is old enough, send him or her out with a roll of film in the camera and the assignment to photograph the views they will want to remember.
Some relationships will be extremely difficult to break and these will demand careful, thoughtful, personalized planning by both parents. How, for instance, do you move a 17-year-old 1,000 miles from her steady boyfriend? Expect that your children may be even more distressed after the move than they were before it. The new house will not be beautiful the night after the moving van leaves, or for months after. The furniture won’t fit the rooms. The curtains won’t be up, and the floor will be covered with half-unpacked cartons. The children won’t know anyone at school and, if you move during the summer, they may have little opportunity to meet anyone their age. You may be faced with many more problems in your new community than they will, but remember that you can handle them more easily than they can. They will need your help, and you should plan to give them the support they need.
After the move, give each of them a long distance telephone call allowance so they can keep in touch with the people back home who matter the most to them. Buy a stack of picture postcards that show positive views of your new community, and encourage them to write good news messages to the friends and relatives they left behind. To make new friends, make sure the children don’t vegetate in front of the television. Get them outside, where neighbors pass by. Have them pass out fliers to do babysitting or car washing. Encourage them to participate in as many school activities as they can handle. Get them on sports teams and into clubs. If they – and you – aren’t making new friends fast enough, throw a housewarming party for yourselves and invite all the adults and children on the block.
If serious emotional or attitudinal problems arise, however, help is usually available and probably should be sought. Ask a teacher for help. Consider professional counseling. Don’t let a serious problem slide. Remember that the newness will wear off. New friends will become old friends and best friends. This new house may become the family homestead your grandchildren will visit every holiday season. There will be discomforts, but in the long run, everything will work out fine.
Almost everyone’s thoughts turn towards wellness at the start of a new year—and even your home can be part of your plans for a healthier lifestyle. The connection between your health and the building you live in has been extensively studied since the 1980s.
Even though most homes don’t suffer from “sick building syndrome,” many homeowners feel better making improvements that promote the family’s health. Here are a few popular health-related home upgrades:
Whole-House Air Filter
Because we spend up to 90 percent of our time inside our home, the U.S. Environmental Protection Agency reports dust, molds, pet dander, pests and second-hand smoke can trigger asthma in family members or visitors. In addition to regularly cleaning furniture and bedding, you may also consider cleaning the air through your forced-air heating or central air-conditioning system. Types of filters include disposable HEPA filters, electronic “ionizing” filters and UV filters that kill airborne bacteria.
Household Water Filter
Many people want extra-clean drinking water, while others simply don’t like the taste of tap water. In any case, filtration can remove chlorine and other unwanted substances from your water. Installed under the sink, a plumbed-in water filtration system connects directly to an existing water pipe. Such a system offers convenience, though you may still need to change the filter cartridge regularly.
Low-Emission Paint
Are you thinking about repainting a room? Many paints and household finishes still contain volatile organic compounds (VOCs), formaldehyde, heavy metals such as mercury, or other toxins. Using paints and other finishes with low or no VOCs can help people with allergies and sensitivities breathe more easily.
If you add these health-promoting features to your home, remember to call attention to them when you decide to sell. Your “healthy” home may stand out from the competition so you receive a higher price.
One of the unfortunate realities of our current economic condition is the fact that it lends itself well to con artists who are looking to take advantage of innocent people who are in desperate times.
One of the unfortunate realities of our current economic condition is the fact that it lends itself well to con artists who are looking to take advantage of innocent people who are in desperate times. The reality is that con artists prey upon people who have fallen upon hard times, such as those who are having difficulty keeping up with their mortgage payments. As a result, the number of mortgage scams has seen a significant rise over the past several months. Therefore, in order to keep yourself protected, it is essential for you to be aware of these scams and how to recognize a con artist when you see one.Recognizing a ScamSadly, recognizing a scam or a con artist can be quite difficult, as con artists are very good at what they do. By manipulating your feelings and your desperate situation, they can even get you to do things that you know in your heart simply don't seem "right." To that end, here are some general things you should always avoid doing in order to prevent being taken by a con artist:• Never pay upfront fees to a person claiming to be a mortgage rescue advisor• Never sign a contract related to your mortgage without first consulting with a legal professional• Never trust someone who claims to be able to provide you with a "quick fix" to your mortgage problem• Never send mortgage payments to anyone other than the company that is directly responsible for collecting your payments on behalf of your mortgage lenderNo matter what type of identification the person shows to you, you should never pay any upfront fees to have your mortgage "fixed." Unfortunately, it is not unusual for con artists to pose as if they are government officials and they may have some convincing looking documentation to back up this claim.Examining Common ScamsAlthough the con artists seem to have an unlimited array of scams to select from, there are a few common scams that are being seen within the mortgage industry.One of the most common scam is the "mortgage rescue" contract. With this scam, the con artist will ask you to sign a contract that will allow him or her to take the steps necessary to help you with your mortgage problems. Rather than signing over permission to give you help, however, you will actually be signing permission for your title to be transferred. Once you have transferred the title to the scammer, he or she will promptly evict you from your home.A similar scam that is causing people to lose their homes is the "rent-to-buy" scam. With this one, the con artist convinces you to sign over the title of your home so he or she can get it refinanced under better terms that what you can qualify to obtain. The scammer claims that he or she will arrange a rent-to-buy arrangement with you so you can remain in your home. Of course, after ownership is transferred, the con artist finds a reason to evict you from your own home.The bottom line is that there is no quick fix to mortgage troubles and no one can offer you a "guaranteed" or "proven" solution. Although it may be tempting to take these scammers up on their offers in the hope of saving your home, steer clear of these individuals or you may soon find yourself without a home.
The average interest rate for a 30-year mortgage dropped to a record low of 4.71 percent this week, pushed down by an aggressive government campaign to reduce borrowing costs.
The rate, published today by Freddie Mac, is the lowest since the mortgage finance company began tracking the data in 1971. The previous record of 4.78 percent was set during the week ending April 30 and matched last week.
Pieces with a patina that have aged gracefully, such as an old garden urn, can be displayed in a room that lacks architectural charm. The weathered look draws the attention away from what is missing and toward the elegant object at hand. Remnants of rusted iron gates also will lend interest to an indoor space. Hang one on the wall as a stylish sculpture or use a larger section as a folding screen in front of a fireplace.
Shop home improvement stores for interesting items such as ceiling medallions. Though they are meant to surround a hanging light fixture, the detailed designs can be installed in a grouping along a wall for a touch of the unexpected. Paint them in your favorite hues to make a bold statement in a room.
Larger items like columns add substance to a space while creating the illusion of architecture where there is none. Whether you prefer the vintage variety or something new that you can tweak with a paint technique, these statuesque stands can define a corner or establish the entrance to a room.
Along the same lines, you might install a mantel over an existing fireplace or introduce a fireplace to a room without a focal point. Vintage doors, particularly those with a decorative design, can be attached as a series of panels for a folding screen that divides a portion of the room while adding a welcome distraction in the process.
Add depth and dimension to less-than-desirable windows with shutters that can also be used to frame a fireplace when not in use. Stained-glass windows add color and texture when hung as an accent in front of a permanent window or as a decorative element anywhere in the room.
Foreclosure filings have decreased slightly for the past three months in a row, according to RealtyTrac. While that’s certainly welcome news from a short-term perspective, the larger picture concerning distressed properties remains grim. October 2009 marked the 45th straight month of year-over-year increases in foreclosure activity. In the third quarter of this year alone, there were still more foreclosures than in all of 2006.
At the RISMedia Power Broker Perspective Panel on Distressed Properties, it was noted that the year will end with about 3.3 million households having gone into foreclosure. And because of rising “shadow inventory” another 4 million properties are expected to hit foreclosure status in 2010.
The Administration’s recent push to accelerate the pace of loan modifications to keep struggling borrowers in their homes also has a down side; some 49-62% of those whose loans are modified are expected to re default eventually nonetheless.
This massive inventory of distressed properties continues to put significant downward pressure on home prices nationally, and makes it tempting for real estate practitioners to slip into a state of powerlessness and discouragement. That’s a huge mistake.
As the RISMedia panel noted, they were positive in their remarks to real estate pros about coping with a changed market:
Contributor: Wendy Cole
Bringing the Dream of Homeownership Within Reach
As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress has passed new legislation that:
· Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home buyers until April 30, 2010.
· Expands the credit to grant up to $6,500 credit to current home owners purchasing a new or existing home between November 7, 2009 and April 30, 2010.
Who Qualifies for the Extended Credit?
· First-time home buyers who purchase homes between November 7, 2009 and April 30, 2010.
· Current home owners purchasing a home between November 7, 2009 and April 30, 2010, who have used the home being sold or vacated as a principal residence for five consecutive years within the last eight.
To qualify as a “first-time home buyer” the purchaser or his/her spouse may not have owned a residence during the three years prior to the purchase.If you purchased a home between January 1, 2009 and November 6, 2009, please consult your accountant for applicable 2009 First-Time Home Buyer Tax Credit qualifications.
Which Properties Are Eligible?
The Extended Home Buyer Tax Credit may be applied to primary residences, including: single-family homes, condos, townhomes, and co-ops.
How Much Is Available?
The maximum allowable credit for first-time home buyers is $8,000.
The maximum allowable credit for current homeowners is $6,500.
How is a Buyer's Credit Amount Determined?
Each home buyer’s tax credit is determined by tow additional factors:
1. The price of the home.
2. The buyer's income.
PriceUnder the Extended Home Buyer Tax Credit, credit may only be awarded on homes purchased for $800,000 or less.
Buyer IncomeUnder the Extended Home Buyer Tax Credit, which is effective on November 7, 2009, single buyers with incomes up to $125,000 and married couples with incomes up to $225,000—may receive the maximum tax credit.
These income limits have changed from the 2009 First-Time Home Buyer Tax Credit limits. If you or your client purchased a home between January 1, 2009 and November 6, 2009, please see 2009 First-Time Home Buyer Tax Credit.
If the Buyer(s)’ Income Exceeds These Limits, Can He/She Still Get a Credit?
Yes, some buyers may still be eligible for the credit.
The credit decreases for buyers who earn between $125,000 and $145,000 for single buyers and between $225,000 and $245,000 for home buyers filing jointly. The amount of the tax credit decreases as his/her income approaches the maximum limit. Home buyers earning more than the maximum qualifying income—over $145,000 for singles and over $245,000 for couples are not eligible for the credit.
Can a Buyer Still Qualify If He/She Closes After April 30, 2010?
Under the Extended Home Buyer Tax Credit, as long as a written binding contract to purchase is in effect on April 30, 2010, the purchaser will have until July 1, 2010 to close.
Will the Tax Credit Need to Be Repaid?
No. The buyer does not need to repay the tax credit, if he/she occupies the home for three years or more. However, if the property is sold during this three-year period, the full amount credit will be recouped on the sale.
Don't invest without reading and investigating. Later on, you'll be glad you did.
Read a few books about investing. You'll find a wide assortment of them in your local library or bookstore. These books will give you important information about how the world of investing works. They also will help you feel more comfortable with and confident about investing.
Continue your research by choosing a few investments that you want to learn more about. Then, you must work hard to learn more about these investments.
You can research your possible investments in a variety of ways:
You may want to call a full-service brokerage house and a financial adviser to see how they rate the investment you are considering.
If you're researching a mutual fund, call the fund and request a prospectus, an annual report, a "Statement of Additional Information," and an application. Read this information before you decide whether and where to invest.
No matter how much research you do, there's always a chance that the investment you choose won't be the right one. That's because no one - not economists, advisers, brokers, accountants, or rating agencies - really knows what will happen tomorrow, next week, or next year on Wall Street. For example, ratings report a mutual fund or a company's past performance. That's all. Ratings give you absolutely no information about future performance.
Because of this uncertainty, it is important that you work hard to own a diversified mix of stocks, bonds, and mutual funds. Diversifying means that you put your money into a variety of investment products. It also means that you invest in a variety of companies and in a variety of industries. If your portfolio is diversified, losses in one area of your portfolio should be offset by gains in other areas of the portfolio. Your diversified portfolio should gradually increase in value, and shouldn't be subject to wild losses or gains.
If you're thinking of investing in a particular company - or buying a particular bond - check first to see what grade the company earned from the leading ratings agencies. Remember, though, that ratings only report on a company's past performance, and don't predict future success.
The number one equation to take into account on this project is the margin. What is your cost to get into the house and the average sales price of a house in the selected neighborhood on a remodeled home? Obviously, you want this margin to be as high as possible. The challenge in today's market, when looking at it nationally, is that many of the diamonds in the rough are located in areas where prices are still declining, so the investor must be sure to purchase the house, gut out the old, insert the new, and get out of the house before the declining price catches up with him and his profit.
Successful flipping is all about your margin. I would love to give you a set equation with fixed expenses, but every house is different. One house may need a kitchen, another, the kitchen and two baths. Here's a pretty cool calculator online that can help determine your cost at www.RemodelingMySpace.com. With the flipping I've seen done in our market, it seems to be pretty accurate on its estimation of replacement costs.
Understanding that all homes are different, the sample below works for our hypothetical house only. Not for every potential flipper on the market. So here's your calculation.
Let's say the asking price is $199,000 for the house in its current condition. You see that it needs a new kitchen, 2 new baths, a new furnace, carpeting, painting inside and out and finally, some landscaping.
After your bids from your work crew come in, your fix up expenses come up to $47,000. Add the $47,000 to the $199,000 for your net expense: $246,000. Now you have the Realtor of choice calculate the price homes are selling for in the community that are remodeled or in excellent condition (because by the time you get done, yours should be in excellent condition). Let's say it's $285,000. Wow, it looks like you just picked up a cool $39,000. Well, not exactly.
First, you have to determine how long it will take to sell the house and calculate your carrying costs (monthly payment, construction loans, etc.) If you're in the same situation as most foreclosure markets, you need to figure about 4 – 6 months carrying costs of preparation and marketing time. If your costs is about $1200 per month (for the mortgage plus utilities), you're now out $4800 (and your take has dropped to $34,200).
And don't forget your 7 percent selling costs for commission and closing expenses, which is roughly $19,950. So now your margin of profit is about $14,000 give or take a $1,000.
As you can see, this is how a lot of people get into trouble thinking that if they pick up a house for $85,000 under market price they'll be rolling in the dough quickly. Most experienced investors are looking for a margin of 50 percent of the value or $100,000 on a higher priced home.
The challenge of a profit margin of $14,000 is that it can be quickly removed in a declining market or the negotiation process in a buyers market.
Licensed in the State of Michigan to do business in the State of Michigan
Contact Me | Free Home Valuation | Find A Home! | Sandy's Virtual Tours | View Recent Home Sales | Property Tax Estimator | Cell Phones for Soldiers | Home Buyer Credit | Search for Homes | Sandy's Featured Properties | 27 Seller Tips | First Time Buyers | Inspection Tips | Home Buyer Checklist | Looking to Buy? | Looking to Sell? | Home | Applying for a Loan | Loan Application Checklist | 9 Steps to Owning | Site Map | Sandy's Journal (Blog)
Copyright © 2010 RE/MAX ClassicPortions Copyright © 2010 a la mode, inc.Another XSite by a la mode, inc. | Admin Login| Terms of Use| Site MapAll rate, payment, and area information are estimates and approximations only.
