Real Estate Information Archive

Those winter chills are finally history and it's time focus on outdoor fun again. Your lawn is the perfect spot for family gatherings, sports competitions, barbecues and relaxing afternoons, so why not make it the best it can be? Before your calendar fills up, apply these five tips and your lawn will be in great shape for the entire season.

• Clean up. Whether it was packed under the snow or blown in by the wind, the winter season leaves more than its fair share of debris behind. Grab a rake and get started raking up all of this garbage. Once the lawn is clean, apply a thin layer - about a quarter-inch thick - of compost to give your lawn a boost and start it in the right direction.
   
• Reseed the bare patches. Your travels around your lawn to rake up debris will probably reveal some bare patches. If you do happen upon a patch of barren ground, loosen the top 2-4 inches. Level the soil with your garden rake and cover the area with a mixture of grass seed and fertilizer. You could also replace the fertilizer with compost. Pat the surface with the flat end of the rake when finished to ensure the seed remains in place. Water as necessary.
• Aerate your lawn. Aerating allows oxygen, water and other nutrients to reach your grass's roots, and it's one of the best things you can do to support your lawn. Travel across your yard with a manual or gas-powered aerator, punching holes in the ground. Make sure to pass over each area only once. After you've finished aerating, spread compost, fertilizer or peat moss over your yard. The fertilizer will be absorbed quickly through the holes created by the aeration.
   
• It's time to mow. Optimal grass length is 2.5-3.5 inches, so cut your grass as frequently as needed to achieve this length without cutting more than third of each grass blade. Mowing high and often will produce a heartier lawn that is more adept at keeping weeds away, as well as making it less susceptible to heat and drought.
   
• Add color and contrast. Landscaping adds immediate scenic interest to your space and allows you to showcase your creativity as well. If you choose to add annuals or perennials to your space, plant them in odd numbers and in tiny pockets around the yard - this produces a more natural appearance. You can also add a centerpiece to your yard, such as a sculpture, fountain, fire pit or horseshoe pit. Any of these focal points provides a gathering place and an excuse to enjoy relaxing afternoons on your beautiful lawn all season long. (BPT)

For much of the country, winter woes are forgotten as the literal “greening of America” begins, and warmer weather, blossoming trees, chirping birds, and colorful flowers signal a time of rebirth and renewal.  Life is good…

…and demanding.  Spring requires much of a homeowner, and home maintenance checklists remind the often-harried proprietor  that it’s time to inspect the roof, repair the deck, check for cracks in concrete, repaint exterior trim, recondition lawn mowers, grills, and garden tools, and refurbish outdoor furniture.

Not quite ready to tackle such large, time-consuming chores?  Consider, then, easing into the requisite activities by initially taking on smaller, non-time-consuming tasks that generate a feeling of accomplishment while providing a gradual transition into the big jobs.

Granted, the majority of these items are for the interior of your home, but they’re important, too, and a far cry from the annual rug-beating, wall-scouring spring cleaning of yesteryear.

A sample of the” start-off-small” responsibilities includes the following:

• Shut off the water to the washing machine, remove the water supply hoses and examine them and the washers. Replace worn and damaged ones.
• Dust ceiling fan blades.
• Change or washing bathroom shower curtain liners.
• Test the pressure and temperature relief valve on the water heater by opening it and allowing some water to flow out. If little or no water flows out or it doesn't shut off, replace it. Bad valves can cause explosions.
• Clean the garbage disposal. Grind two trays of ice cubes made from a mixture of one cup white vinegar to one gallon of water.
• Check fire extinguishers to make sure they are not outdated, have lost pressure, or are damaged.
• Move throw rugs, mats, and area carpets and clean underneath them.
• Remove mineral deposits from faucets and shower heads.
• Thoroughly clean the refrigerator—one section at a time.  After six or seven mini-sessions, the entire job will be complete.

Finished?  Ready to take on tasks requiring a bit more time, know-how, and energy but guaranteed to bring peace of mind and the satisfaction of knowing your home is well-maintained?  Check out Princeton Online for monthly suggestions.

Information courtesy of Chester County PA Realtor Scott Darling.

Whether you are remodeling your home to get it ready to go on the market or you are making some changes to the home you just moved into, it doesn’t have to be a nightmare.   In this blog post I will give you a few tips on how to make your next remodeling project a good experience.

1. Get hold of a set of plans for your home so that you will be able to take accurate measurements  of doorways in small areas such as the bathroom.  This will insure that you don’t end up with a door that is positioned in a way that is inconvenient for everyone.
    
2. Make sure that you place outlets in areas in which they will be easily accessible.  Also be sure not to place outlets in wet areas where you may be at risk for electric shock. 
    
3. When remodeling your kitchen be sure to place your appliances in an area that will have adequate clearance.  There is nothing worse than opening the dishwasher and realizing that you cannot open it all the way because there is a wall in the way. 
    
4. When moving light fixtures over to make them fit in the center of your table, be sure that you have enough excess chain to make it look pretty and that it won’t end up looking like it was not intentional.  If you are a little OCD, this kind of thing will bother you immensely if you do it wrong.
    
5. Test your new paint color on the wall before you paint an entire room.  Paint is not always the color on the swatch once it is dry.  If you can get away with only purchasing one color and stick with that one color you will save yourself a lot of money and time. 

Keep these helpful tips and ideas in mind for your next remodeling project and you should come away from it feeling as if you have accomplished something great rather than feeling like you never want to tackle that type of thing ever again. 

Information courtesy of Chester County Realtor Scott Darling.

When you're about to buy a house, it's easy to get excited about its great location, spacious floor plan or beautifully decorated interior. Yet the old saying, "beauty's only skin deep" can apply to any home, especially if you're considering an older, previously owned property. Before signing on the dotted line, use this checklist to help avoid some potentially costly surprises and anticipate repairs or upgrades that may be needed.     

Start at the top: the roof

Ask when the current roof was installed. Is it the original roof, or has it been replaced, repaired, or covered over with new shingles in certain spots? Are there known leaks, and if so, where are they? Have any of the leaks caused damage to the attic or interior? Also look at the chimney to see if it's properly sealed around the edges and whether the gutters need repair.

Windows and doors

Next, take a look at the windows to see if there is any condensation between the glass panes. If so, it could mean window replacements are in order. Once you get inside the house and close the front door, see if any light is coming through between the edge of the door opening and the wall. This gap is an indicator that the door may need to be replaced since air can escape through it and cause higher energy bills. 

Lighting and electrical

Throughout the interior rooms, many homes are "staged" to appeal to buyers with attractive lighting that shows off the space to its best advantage. You may love the way the lamps look in the bedroom, office or kitchen, but more importantly, check out how many electrical outlets there are and whether they are in convenient locations. Also, make sure you check to see if the lamps are masking the fact that there are no ceiling fixtures in each room. Will you need to rig up extension cords or invest in electrical work in order to support all the lamps, ceiling fixtures, appliances and electronics you wish to use?

Get to the bottom of furnace efficiency

At the basement level, be sure to check out the heating system. If the current furnace is more than 10 years old, it may be operating at a much lower level of efficiency than the latest manufacturing standards require, resulting in higher energy costs. Newer models can operate at nearly 20 percent higher efficiency than the government minimum standard, for the ultimate in energy efficiency.

Know what you can't see: indoor air quality

One thing you can't see is the quality of the home's indoor air. Nearly 72 trillion particles enter a home every day, making the air inside up to five times more polluted than the air outside. (BPT) 

Information courtesy of Chester County PA Realtor Scott Darling.

Owning a home is part of the American Dream, yet standards on income, credit and debt are making it tougher to buy a home than it was 10 years ago. Even though requirements are relaxing, only three out of five borrowers get approved.

While stricter standards make it tougher for young families to qualify for a mortgage, millennials said they understand why these standards exist and think the tougher requirements won't stand in their way of buying a home.

Most tax law changes don't affect the average taxpayer. That's fortunate news, considering the U.S. averaged at least one tax law change per day every day between 2000 and 2012. 

Some tax changes generally happen every year, such as inflation adjustments to standard deduction and exemption amounts. Others happen every few years, like expiration or renewal of credits and deductions, new taxes and tax increases.

What can you do to ensure you maximize the benefit or minimize the negative impact of tax law changes each year? It's quite simple, says TaxACT spokesperson Jessi Dolmage.

"Do a dry run of your federal income tax return each fall," Dolmage recommends. "DIY tax programs are updated with the latest tax laws every fall so you can get an estimate of your refund or liability as it currently stands. The Q&A also reviews credits and deductions you can still take advantage of in the next few months."

You can do tax planning and calculate your 2014 taxes with a DIY tax return preparation solution (most are free to try) or with a tax calculator like TaxACT's.

Whether you start your taxes early or wait until the April 15, 2015, deadline, here's a list of key changes that could impact your 2014 tax return:

• Personal and dependent exemptions increase to $3,950 per person.
• The 2014 standard deduction is $6,200 for a single taxpayer and $9,100 for a head of household. The standard deduction for married couples filing jointly also increased to $12,400.
• Several benefits have expired, although Congress may extend them for 2014 returns. Those include the tuition and fees deduction, educator expense deduction, deduction for mortgage insurance premiums, cancellation of some mortgage debt, nonbusiness energy property credit, and state and local sales tax deduction.
• Did you purchase health insurance from the federal or a state-sponsored marketplace in 2014? If so, your marketplace will send Form 1095-A by Jan. 31. Simply enter the form information when your tax program asks for it.

If you qualified for the premium tax credit toward marketplace insurance, the information you need to report on your return will also be on Form 1095-A. Your credit amount, which was based on your best estimate of your household income at the time you applied for insurance, will be reconciled with your actual income reported on your tax return. If your income or household size changed since applying for insurance, so can your credit amount. You may receive a larger refund if your income was less than estimated, or you may have to pay some of the credit back if your income was more than estimated.

• If you didn't have minimum essential health insurance for three or more months in 2014 and don't qualify for an exemption, you may pay a shared responsibility payment. The penalty is the higher of 1 percent of your 2014 income or $95 per adult and $47.50 per uninsured dependent under 18, up to $285 per family. Your tax program will ask simple questions to calculate your payment.

If you qualify for an exemption, keep in mind some exemptions require you to submit an application and supporting documentation before filing your tax return. Only paper applications are being accepted by marketplaces, so processing can take weeks. Once accepted, your marketplace will issue an exemption certificate number (ECN) that you report on your tax return in order to avoid the penalty.

Learn about more tax law changes at IRS.gov and TaxAct.com. Visit HealthCare.gov and HealthCareAct.com for premium credit and exemption information. (BPT)

Information courtesy of Chester County PA Realtor Scott Darling.

We certainly have had our share of winter this year. Here are a few cold weather maintenance tips to make you warm and cozy!

1. Allow Your Faucets To Drip

This sounds counter intuitive, but if the temperatures are well below freezing outside, your pipes are at risk of bursting. Fixing exploded pipes is a costly and pain-staking procedure, so you'll want to avoid that at all costs. If the temperature drops well below freezing, simply crack your faucets to allow water to steadily drip out. The running water in the pipes will keep your pipes from freezing.

2. Leave Your House Immediately If You Detect The Smell Of Gas

If you use gas to heat your home and smell a strong sulfur-like odor, you need to leave your house and call a professional. Gas leaks do happen and they need to be taken seriously and handled by a professional.

3. Turn Down The Thermostat

Or even better, purchase a programmable one. You can save as much as 2-3% on your energy costs for every degree you lower your thermostat around the clock. If you program the heat to lower while your gone at work or sleeping, you can save as much as 10% on your annual heating bill. That sounds pretty nice!

4. Give Your Furnace A Good Inspection

Look for rust. Check for scaling on the heat exchanger. Ensure proper flame color. Also, listen for odd sounds, and note any odd smells. Lastly, check the condition of venting. If you have any cause for concern, consult a professional.

5. Clean Or Replace Your Furnace Filters

Not only does this help you save on heating costs in the long run, but it's a safety thing as well.

6. Check All Windows For Drafts

Use caulking to seal in anywhere that might be drafty.

7. Examine Windows And Doors For Ice Accumulation

If you find any, make a note to replace or repair in the springtime.

8. Check Your Attic For Frost

If there is excessive frost or staining on the underside of the roof, you'll want to see to that in the spring.

9. Clear Exhaust Vents Around The Outside Of Your House

As snow falls, make sure outside vents are clear from snow cover. Covered vents can force dangerous carbon monoxide back into the house.

10. Ensure Your CO2 And Smoke Detectors Are Working

Cold weather shows a jump in carbon monoxide calls for the fire department. Make sure that all of your detectors are working. Carbon monoxide is odorless and colorless, so you'll need a detector to tell if you have a leak.

11. Close Fireplace Dampers When Not Using The Fireplace

If you leave dampers open, it will pull warm air from you house, even if there is no fire. NO sense in paying to heat the outside.

12. Make Sure The Heat Is Actually Getting To You

Vacuum out radiators, baseboard heaters, and furnace duct openings. Also, ensure they are free of obstructions. If you're paying for the heat , you might as well feel it.

Information courtesy of Chester County PA Real Estate Expert Scott Darling.

It’s that time of year again; time to file your taxes.  You may or may not be happy about that but there are two things that are always going to happen, death and taxes.  On a not so morbid note, let’s look into a few homeowner tax mistakes  that folks typically make so that you can be sure to avoid them. 

Many times when folks purchase a home that needs a lot of renovations, they forget to keep the receipts for these renovations and take advantage of them at tax time.   Some home renovations can be a tax write off.   If you do such things as installing energy-efficient features into your home you need to be sure to take these as a tax right off.  There are some home improvements that will not qualify as a tax deduction but they will still be helpful if you ever decide to sell your home.

• If you have been a home renter for many years, you may have been able to file a very easy tax form known as the 1040ez.  Do not make the mistake of thinking you can continue to file this simple form for taxes once you purchase your own home.  It may be to your benefit to talk to a tax professional about what all you can deduct once you become a homeowner and what forms to use.  You may in fact want to just hire a professional to make sure that your taxes are done correctly and save yourself a lot of worry. 
• Be careful not to list your full escrow amount on your taxes.  Many homeowners try and list their full escrow balance on taxes.   You may be surprised to find that if you are a homeowner not all of your funds in escrow are used to pay taxes.  Again, hiring a tax professional may be in your best interest at least for the first year after becoming a homeowner.  Why have unnecessary stress when you can let someone who knows what they are doing take care of your taxes. 
• You may find this surprising but many folks file their new home on their tax forms in the wrong year.  Remember that taxes are a year behind.  If you purchased your home in the first part of 2015, you do not need to include it in your tax return this year because you are filing 2014 taxes.  You can actually end up filling the wrong amounts if you make this mistake and that can lead to less of a refund than you had anticipated. 

Hopefully these tips will be helpful to you this tax season.  If you haven’t yet filed your taxes, go ahead and do so to avoid having to file extensions.  Better to get it all out of the way and enjoy whatever 2015 is going to bring your way and stop worrying about your taxes so that you can enjoy your new home!

While many people focus on personal health goals in the New Year, the beginning of the year is also a great time to check your financial fitness. So how can you whip your finances into shape?

South University College of Business, Virginia Beach faculty member Dr. Alan Harper says everyone should adopt these five financial habits in 2015:

1. Establish a budget

Harper says the first step in taking control of your finances is to establish a budget. "It is extremely important to know how much money is coming in, where it's going, and allocating it appropriately," he says. "Having a budget allows you to gain a broader understanding of your spending habits."

Make sure your budget includes allowances for food, clothing, gas, and even entertainment, Harper advises.

2. Start saving

Your budget should also include money set aside for emergencies. Harper says the old rule-of-thumb that three month's salary is enough to have in your bank account no longer applies in our current economy.

"We found in the last recession that people who lost their jobs tended to stay out of work much longer than three months," he says. "You should have six months to a year's worth of income in savings, just in case."

Harper says you should also try to put away 15 percent of your take-home income toward your retirement. Many retirement savings options are available, including 401(k)s, Roth IRAs and individual retirement accounts. It is important to do your homework before deciding on a long-term investment strategy so that you are aware of terms, conditions and any fees associated with your options.

3. Manage your credit

The beginning of the year is a perfect time to check your credit history, and to look for any mistakes on your credit report, Harper advises. Mistakes on your credit report can cost you large sums of money in interest rates, or even keep you from being approved for a loan.

"The law requires the three major credit reporting agencies to provide you with one free credit report a year," Harper says. "Pull those reports and look for discrepancies. If you find one, file a dispute with the credit reporting agency and they will remove the item if it is incorrect."

Harper also says to check your FICO score on the report, make sure you have an understanding of what the score means, and how to improve it if the score is low.

4. Shop smart

Make it a priority to save money while you shop, Harper says. He encourages clipping coupons, and says purchasing membership cards to discount stores like Sam's Club and Costco can help you save money over time.

"Those stores will save you money in the long run on purchases like food, gas, and even personal care items."

5. Check your insurance

Setting aside time at the beginning of the year to check your insurance policies can also save you money. Harper advises that you should review your auto, home and life insurance to make sure you have the proper coverage.

"You want to make sure you aren't paying for coverage that you may no longer need, but you also want to make sure you have adequate coverage in case there is an accident or you need to make a claim," he says.

Many companies also offer discounted rates if you hold multiple policies with them. So, if your auto, home and life insurance policies are with different companies, you may want to explore the benefits of choosing just one company.

"It's also important to make sure your life insurance policies are sufficient to protect your family from a financial crisis in the event that something happens to you," Harper notes.

"Establishing a budget, saving, staying on top of credit and insurance, and shopping smart all take some work," Harper points out. "But the rewards to your personal and household bottom line are well worth the effort." (BPT)

Owning a home is part of the American Dream, yet standards on income, credit and debt are making it tougher to buy a home than it was 10 years ago. Even though requirements are relaxing, only three out of five borrowers get approved.

While stricter standards make it tougher for young families to qualify for a mortgage, millennials said they understand why these standards exist and think the tougher requirements won't stand in their way of buying a home.

Because mortgage lenders use debt-to-income to evaluate a borrowers' ability to repay a loan, student debt is a growing burden on millennials interested in financing a home. Unlike medical debt, student debt carries an equal weight to credit card debt. Nearly half of those surveyed said it's unfair to weigh both types of debt equally.

As for the tougher requirements to getting a mortgage, millennials do think the tougher standards guard against risky loans and will help prevent another mortgage crisis. More than half say making it easier to get a mortgage will result in more foreclosures.

If you have student debt and want to buy your first home, here are a few ideas and tips to help you prepare:

• Lower your debt-to-income ratio (DTI). DTI is your total monthly income as compared to your total monthly debt payments. Most lenders will only lend to you if your DTI is at or below 43 percent. So to lower it, try to increase your income by pursuing a promotion or raise, finding a higher-paying job or taking on part-time work. Decrease your required monthly debt payments by refinancing or consolidating student loans and paying down any credit card balances.
• Get your credit score in order. Analyze your credit report before you start the home buying process. Dispute incorrect derogatory information and ensure all three credit-reporting bureaus list all of your positive information. Pay all your bills on time, reduce credit card balances to 30 percent of the credit limit or lower, and don't open new credit cards if you already have a few.
• Save for a down payment. Make a budget for each month before it starts, with a plan for spending and saving, and stick to it. Stash away extra money from bonuses, overtime or financial gifts on your birthday or holidays. Find a roommate to help pay your rent or move into a less-expensive rental. Do freelance or contract work on the side. Sell unneeded stuff on Craigslist. (BPT)

This holiday season, will you be one of the 197 million Americans to shop online, according to eMarketer? Holiday shoppers will go online to buy everything from gift cards to cars, flat screen TVs to smartphones. And at least some of them will have their holiday spirit dampened by scammers who use a variety of schemes to convince victims to send money for a bogus purchase.

"The holiday shopping season is an opportunity for scammers," says Dan Marostica, vice president of fraud risk management of Western Union, a leading money transfer company. "In the hustle and bustle of the holidays, con artists are counting on Americans' desire for a good deal to help them cheat holiday shoppers out of their hard-earned money."

Scammers attempt to contact consumers on a variety of online venues, from popular auction and free-ad websites to social media and even pop-up ads. Some scenarios hinge on one tactic - convincing the buyer to send money to the scammer via money transfer.

"Criminals may purport to be selling an item privately and claim they can only accept a money transfer," Marostica says. "Or they may be offering something for 'free' like a puppy, simply asking the buyer to send a money transfer to pay for shipping. These cheats know that once a money transfer is paid it is difficult for the victims to get their money back from the seller.

As the holidays approach, follow these tips to avoid becoming a victim of an online purchase scam:

• Never pay for an online purchase by sending a money transfer to an individual.
• When shopping online, stick to established, reputable retail sites or auction sites that have clearly defined policies for how they will help settle a dispute between buyers and sellers.
• Look for visual cues that a website is secure, such as a URL address that begins with "https" or a lock symbol on the lower part of the page. These signs indicate a website has taken security measures.
• If you can't find a company's physical address and customer service phone number on its website, consider doing business elsewhere.
• Be wary of private sellers offering goods at extremely low prices, or those who require you to pay by money transfer. Don't believe a seller who claims your money transfer will be held in escrow - Western Union does not offer an escrow service - or one who suggests you put the money transfer in a friend's name for security purposes changing it after you receive the goods. Once the criminal has your friend's name, he or she may be able to pick up the money transfer.

"Money transfer is a great way to send money to family and friends for the holidays, but you should never use it when dealing with someone you haven't met in person," Marostica says. "And you should never send a money transfer to pay for goods or services from an individual on the Internet.

To learn more about fraud prevention, visit www.westernunion.com/stopfraud. (BPT)

Information courtesy of Chester County PA Realtor Scott Darling.