Avoid these two big mortgage mistakes

What affects property values?

From decorating to staging

Five Ideas for Re-purposing Unused Items

You undoubtedly have some items in your home that you’d like to get rid of or you’re having trouble finding a use for. Rather than throwing them out, consider repurposing them. Here are a few ideas for inspiration:

1. Turn an old dresser into a kitchen island: Do you have a beat-up old dresser that’s currently an eyesore? Dress it up with some bright new paint, and then put it in your kitchen. You’ll suddenly have a new surface for preparing food, as well as a colorful accent piece.
2. Use that old door as a table or desk surface: Just pick up some table legs from IKEA or order some online, attach them to the door, and now yo’ve got a cool repurposed workspace.
3. Convert a wooden ladder into a bookshelf: Attach the ladder to the wall horizontally. The ladder frame will support the bottom of your books, the rungs will serve as dividers, and the wall itself will keep the books from falling off.
4. Make a rack out of a wood shutter: Attach the shutter to the wall, and the slots will be perfect for organizing your envelopes and mail. Add hooks for keys and clothespins to attach other objects.
5. Add a chalkboard surface to a coffee table: This is a great one for the kids. Get some chalkboard spraypaint from a home improvement store, and use it on your old coffee table. It’s the perfect play surface for Legos, action figures, and more.

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Five Apps for Easy Home Decorating

The article below is for real estate professionals to use on their own blog or website copyright free.

Technology has made it easier than ever to bring your home decor ideas to reality. There are countless smartphone apps that help you plan a space or do some valuable comparative shopping. Here are five apps to use on your next decorating project. Most are available on both iOS and Android devices.

1. Color Capture: Ever see a color that would make for a perfect paint scheme? Benjamin Moore’s Color Capture app allows you to take a photo of anything and instantly get a matching paint color.
2. iHandyLevel: Hanging photos and artwork? Rather than searching through your toolbox for a level, you can use something that’s already in your pocket: Your phone. The iHandyLevel app functions just as well as a dedicated level, turning your phone into the ultimate picture-hanging companion.
3. LikeThatDecor: Let’s say you see the perfect Chesterfield sofa in a coffee shop, and you want to see where you could get one of your own. Use the LikeThatDecor app to take a photo of furniture and instantly see similar items from dozens of retailers.
4. IKEA Catalog: Forget about the nightmare of navigating the parking garage, showroom, and warehouse at your nearest IKEA. The IKEA Catalog app allows you to virtually place furniture in a room. If only there was an app for easy IKEA assembly!
5. DesignSponge: DesignSponge is one of the best DIY and home decor websites out there. Now there’s an app that makes it easy to access all of their awesome content on your smartphone.

Furniture Distrubitors in Greenville also has many decorating solutions.

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The New and Improved Doorbell

You’re probably familiar with devices like Nest, which use smart technology to automate your thermostat and save you money. Think of Ring as the Nest of doorbells. It’s a product that replaces your standard doorbell with a device that connects to your home WiFi connection and sends video and audio of your doorstep to your mobile device.

In other words, you can use your smartphone to see who’s at the door, and you can do it from anywhere in the world.

It brings a whole new level of convenience. You’ll never have to worry about missing a delivery or having a package left in the wrong place—you can be at work when FedEx arrives, and use the intercom feature to tell the delivery man to leave the package where you please.

It’s also a great security tool. You can use the intercom to give the appearance that you’re home, turning away everyone from annoying salesmen to potential burglars. It activates with motion detection, so you don’t have to wait for the doorbell to ring before you’re alerted that someone is at your home.

There are various ways to install Ring, and it starts at $199. Go to ring.com to learn more.

Home staging: Does it make a difference?

The article below is for real estate professionals to use on their own blog or website copyright free.

It seems to be universally accepted that home staging will help your home sell faster or for the best price—it’s been the common practice in the real estate business for a long time, and on the surface it seems like a no-brainer. Of course potential buyers will be more interested if a home is properly decorated, right?

That’s not necessarily true, according to a recent academic study. The study surveyed 820 homebuyers by showing them one of six virtual tours of the same property. In some instances the home was decorated with traditional furniture and color schemes, while in others more eccentric furniture and colors were used. In other tours there was no furniture at all, just empty rooms.

The overall results of the study were that staging is unlikely to increase a home’s sale price, and that staging isn’t quite as important as everyone believes.

Of course, real estate trends vary greatly from market to market. If you have questions about staging, talk to your trusted real estate professional.

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Gail Hanlon, REALTOR® Greenville NC

Three ways to ease your fears about making a move

With low inventory in many markets throughout the country, many homeowners are afraid to sell their homes because they’re concerned that they may not be able to find a new one. This can be a real problem, but if you are seeking to sell—whether to upgrade or find a new neighborhood—there are a few ways to combat the low inventory.

Look to buy first In most markets it is a real mistake to put your home up for sale before you start looking for your new property. Identify the geographic area where you are interested in buying.

Protect yourself legally Each state varies in how the purchase process is conducted. Talk to your real estate professional about adding a clause in the purchase contract for the home you are selling that will enable you to not sell the home if you cannot find a suitable home to buy.

Even if you don't see anything on www.gailhanlon.com, it doesn't mean you can't or won't find the right home.

Think outside the box Be proactive! Keep in mind that there are probably many people like you who want to make a move but are afraid as well. Have your real estate agent send a letter to the neighborhoods in the geographic areas where you want to live. The letter should be heartfelt and personal while announcing that you are ready to buy a home in that neighborhood. You could find a home to buy that may not even be currently listed or for sale.

How Your Credit Score Impacts Your Interest Rate

The most important factor in determining what interest rate you will qualify for with your mortgage is your credit score or also know as FICO score. However, most people are not only unfamiliar with their FICO scores they also aren’t aware of what is on their credit reports.

When qualifying for a mortgage the underwriter will pull your score from all 3 bureaus Experian, Equifax, and Trans Union. They will use the middle score to determine the interest rate. Most lenders today require a minimum of 580 score to obtain a mortgage. The Federal Trade Commission has found that 1 in every 5 consumers have a mistake on at least one of their reports. It is incredibly important to make sure that everything being reported on your credit is accurate since your scores will dictate how much you pay for everything from a mortgage, car loan, to credit cards.

There are websites such as www.freecreditreport.com  that will allow you to obtain a copy of your credit report so you can constantly monitor the activity on your credit report. When disputing anything that is inaccurately showing on your report it is important to get all activity and correspondence in writing and properly documented. Many lenders will ask for this documentation when items are showing on a credit report that are incorrect.

Once you have gone through your credit report and everything is correct and in order, there are some simple steps you can go through to improve your scores. First step is to keep your balances low. Credit bureaus look at your utilization rate to calculate your scores. You want to keep all your balances at 40% of the credit limit or less.

Pay all your bills on time. Credit bureaus will track all your late payments and these will lower your scores. If you have accidently paid a bill late make sure you call that company up and explain the situation. Ask for an extended grace period and for them not to report it late. If you are in good standing 9 out of 10 times they will do this.

Do not cancel old credit cards you no longer use. The longer you have an open line of credit in good standing the more this will improve your credit scores. So even if you have old credit cards you never use keep them open.

Once you are in good standing you can get pre-qualified for a mortgage and begin your home search. There are many active listings in the Greenville real estate market as well as other areas in Pitt County NC.

Kendra McCormick         

Mortgage Loan Officer

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