Happy New Year!! From Stan and Renee Rector

Renee and I would like to wish you and your family a very happy, prosperous and joyous new year!

We look forward to a continued relationship and are excited to help you and your family in any way we can.

Remember, you can always call for much more then just your real estate questions.

We love networking and have resources to help you with just about anything!

So if you’re in a bind, give us a call!

Talk to you then…

Stan and Renee

8 Creative Tips on Saving for a Down Payment

You’re finally ready to think about buying a home, but you doubt your ability to save up the necessary down payment. Twenty percent of even a modest home can seem out of reach for first-time homebuyers. Here are some creative tips for eking out some extra to boost your savings:

Find alternatives

Nearly all discretionary funds (the money left in your budget to spend on entertainment, eating out, and other frills) can be redirected. For example:

• Ditch the cable or satellite: If you pay $50 for cable, you can switch to Amazon Prime or Netflix and have an extra $30 to put into your down payment savings account.
• Revise gym membership: If you pay for monthly gym membership, you can find an extra $35 to $55 per month by switching to a lower-priced gym or working out in a local park or recreation center instead.
• Check out the local library: Most libraries offer more than books. They have DVDs, audio books and magazines. You can access Wi-Fi, free classes and even tutoring, book clubs or game nights.
• Socialize at home instead of going out: host a game or movie night and convince your friends to do the same. You’ll all save money and have fun.

When using this method to save for your down payment, it is important to isolate the savings, so continue to pay the full amount for everything, just pay it into your savings account instead.

Monetize hobbies

This is a tricky idea because sometimes hobbies cost you money instead. However, sometimes you can make gifts instead of buy them, or sell what you make for more than it cost you to make it. When this is the case, consider setting up an online store such as Etsy and earmarking the income for your savings account.

Make a game of it

A way to create the discipline of saving is to make a game of it.

• Indulgence Matching: One idea is to set up a matching game where whatever you spend on non-essentials (that latte at your favorite coffee shop or wine, beer or cigarettes) requires you to put an equal amount into savings. So if you can’t afford to pay eight dollars for your non-fat half soy espresso drink ($4 for the drink and $4 for savings), you’ll have to find a less costly alternative to enjoy.
• Savings Challenge: Compete against a spouse, partner or friend to see who can save the most money in a specific timeframe (one month, six months, etc.). Create a savings metric (actual dollar amount, percentage of income, etc.) you can each achieve with disciplined effort. Make the prize be another savings for the winner such as the loser hand-washes the winner’s car.

Side jobs

Consider adding a side job, or doing chores for elderly neighbors and family members. Let them in on your purpose so they can tell their friends that you’re available to rake leaves, wash windows or help with the deep cleaning. If you don’t know anyone that needs help, sign up with TaskRabbit to get connected with people that do.

Coin jar

This is a simple way to add $500 or more a year to your savings. First, you have to choose to use cash for casual spending (coffee, fast food, beer runs, parking). Then, take the change and put it in a jar, only spending the paper money. To keep yourself from dipping into the jar, consider putting a slit in the lid and then gluing the lid onto the jar. You’ll have to break the jar to get the money.

Increase savings by investing

As the money in your savings account grows, transfer it to a secure short-term savings account like a CD or money market account. Even an online savings account will earn more than your big-bank savings account.

Gifts

Let family members know that you’re saving up to buy a home. That way, they’ll know to gift you with either money or something to increase your savings (restaurant certificates so you can save on eating out, gas cards, etc.).

eBay or Craigslist

Most of us have stuff lying around that we don’t use, don’t need and could sell to someone that wants it. While you may wince at selling that original flat screen TV you bought new for pennies on the dollar, letting it collect dust while you watch Netflix on your larger on is just a waste of money. Take those pennies and add them to your savings.

Stay in touch

When you know you’re nearing your savings goals, stay in touch with your real estate professional. We know when a listing drops in price or the seller is offering incentives that can stretch your savings into the amount you need.

Compliments of Virtual Results

How Oil Prices Affect the Housing Market

Most of us rejoice when the prices at the pump go down. To use that means freed-up cash in our personal economy. When we’re consider buying or selling a home, however, the price at the pump can impact our bottom line in ways we don’t realize.

Local economy

When the local economy relies on income from crude oil sales, a drastic reduction in prices can depress the local market. So in places like Houston or the Canadian Province of Alberta, for example, a dip in the price of crude oil could mean fewer people moving into the area so sales to newcomers may slow down. Or, it could mean that folks whose income relies on the oil industry may decide not to move into that bigger home until things stabilize.

Conversely, communities that rely on delivery of good from other areas might see an improvement in their local economy. If your city relies on the trucking or train industries, lower prices on fuel can mean more money freed up to spend on housing. Economies that depend on air travel should also see an uptick since lower fuel prices means lower cost air travel.

Inflation

One of the historic predictors of inflation was a rise or decrease in oil prices. Economists would predict that an increase in fuel costs would depress the consumer aspect of the economy while a decrease would raise consumer spending. In this scenario, a decrease in fuel prices should result in an increase in housing prices since more people would be able to enter the house-buying market. Recent forecasts run by the Federal Reserve Bank of Cleveland question the long-term use of oil as an inflation predictor, but for current decades, the connection is striking. For many housing markets, a decrease in fuel costs should improve the selling market.

Costs of goods

While most consumers know how prices at the pump affect their driving habits and even some of their spending habits, most do not reflect on the way it changes the price of products made from petroleum byproducts. These products include most of the products on the shelves of discount retailers like Wal-Mart and Target. From your plastic milk jugs and water bottles to that flat-screen TV, clothing to carpeting, oil prices affect the products you use in your home every day. When prices go up, the cost of goods sold goes up. As prices of crude oil go down, however, manufacturers and retailers may not be as quick to pass those savings on to consumers. Volatility in the crude oil market means they may have to plan for the prices to go back up in the future so they may delay lowering the price of goods.

An unstable market means that the cost to build new homes can change from day to day. Year over year, the cost to build the same home varies dramatically. According to the National Association of Home Builders, the average share of a home’s sale price that goes to the construction cost jumped from 59 percent in 2009 to 62 percent in 2013. This means that new homes built during higher costs times may not see the same price reductions as older pre-owned homes.

Talk to an expert

To learn how the changes in fuel prices and crude oil affect your local housing market, talk to a real estate professional. We can help you determine if this is the right time for you to buy or sell. We know the best ways to market your home and how to watch the trends for the best home-buying options. Give us a call and we can get started.

Compliments of Virtual Results

Is this Neighborhood Headed Up? Or Down?

When searching for a home on a budget, you’ll often find great deals on the edge of up-and-coming neighborhoods. But how do you tell if a neighborhood is headed up? Or, if it’s on its way down?

Of course, the first consideration might be financial: Are the home prices going up but still affordable? Are the taxes reasonable but enough to support great infrastructure and schools? Are there places to shop for essentials like groceries?

More than the financial considerations, however, you need to be clear about the neighborhood’s livability … that is, does it offer the quality of life you’re looking for? Will you enjoy living there? Can your family form an emotional connection to the neighborhood?

Signs of potential

There are several signs to look for in a neighborhood that point to its becoming the next hot area.

• Proximity: One of the first things to look for is access to public transportation or easy-to-reach major roads. Young professionals and families want affordability, but need accessibility to jobs, restaurants and entertainment, and medical facilities. Find a trendy neighborhood, and then visit two freeway exits or two transportation stops past it to spot an emerging neighborhood. Neighborhoods adjacent to trendier or more gentrified ones may be next for growth.
• Convenience: In larger cities and denser metropolitan areas, even a neighborhood that appears subprime may be on the verge of urban renewal. Check with city offices to see if an area has been reclassified as an enterprise zone or if there are special tax breaks for new businesses. If the neighborhood is convenient to shopping, workspace and public transportation it may just be the next hot area.
• Low crime rates: when an area is on a positive growth trajectory, crime rates will trend downward. When the general safety of an area increases, that is a sign that the neighborhood is attracting young families, first-time buyers and even more single women. Use a website such as Crime Reports to check for criminal activity.
• Gentrification: One of the first signs that a neighborhood is trending upward is a larger population of artists, musicians and other creative residents. Often, when artists settle in an area, restaurants, galleries, music venues, farmer’s markets and other desirable amenities soon follow. A thriving music or art scene in the Hudson Valley in upstate New York, for example, has attracted a green economic revitalization that mixes art culture with sustainable agriculture, and the thriving music and film scene on the east side of Austin, Texas is a magnet for both young professionals and empty-nesters.
• Prized architecture: When an older neighborhood has significant historic architecture, there is more likelihood that it will experience a renaissance. As you drive around a neighborhood, look for signs that historic buildings and older houses are under reconstruction or remodeling. Areas with a large number of warehouses that are being repurposed into office, residential or live-work space are great indicators.
• Retail, restaurants and recreation: When large retailers, restaurants, grocers and even coffee shops invest in an area, that is a prime indicator that the neighborhood is trending up. After all, these companies invest millions of dollars in research before investing in an area. In fact, when the retailers are ones that appeal to more affluent residents (Whole Foods, Starbucks, etc.) studies show that property values nearby can increase dramatically. In the same vein, a popular bar, night spot or consistently crowded restaurant points to a positive trend.

Finding the best neighborhood for you

As your real estate professionals, we can help you find properties in growing areas, or those on the verge of a turnaround. The more we know about what you’re looking for, the better we can help you find it. Call us today to get started finding the perfect neighborhood for your family.

Give us a call today and let us help with your home search!

Stan Rector

805-577-7902

Stan@StanRector.com

Compliments of Virtual Results

Attracting Homebuyers in the Winter Months – Homes For Sale In Simi Valley

As temperatures drop, snow piles up and people’s minds turn to holiday celebrations, you may think that your house won’t sell. In fact, many people take their homes off the market during this time and wait for spring to relist them. Unfortunately, not all homebuyers have the luxury of waiting. If you need to sell your home now, consider changing up what you’re offering.

Location, location, location

Especially in winter, a home’s location is important. So, if your home is near to public transportation access and major roads likely to be kept plowed or cleared, or conversely, it is near to winter sports and recreation, highlight those facts as selling points. Easy access to the places they want to go is one way to attract winter buyers.

Don’t neglect curb appeal

While a blanket of snow can cover a host of landscaping issues, make sure your home looks well cared for when buyers pull up to the curb. Make sure walks are clean, gutters are clear and the exterior is well lighted. Remove any debris or piles of leaves. You want your home to look well kept no matter the season.

Add festive décor, such as a wreath on the door or greenery on your mantel, but don’t go overboard. To appeal to the widest possible audience, your decorations should be less personal and neutral.

When house hunters visit your home in inclement weather, make sure to have a welcoming atmosphere in your house. Leave warm beverages or homemade cookies for them. Light fireplaces and candles. Make sure your home is warm, light and bright.

Price your home right

While this is true at any time of the year, make sure your price reflects both the value of your home and the winter market expectations. People that need to buy and move during the winter months often have specific budget constraints. Otherwise, they might choose to wait for a more convenience time of year. Consider offering incentives or concessions for home improvements, closing costs, new appliances or other items to sweeten the deal for potential buyers.

Use a professional

During the winter months, selling on your own may not be the best strategy. Professional real estate agents have access to several advertising channels. They more likely know how to highlight your home’s best selling points. Most of all, they have access to buyers such as those moving to your area for a new job, or investors looking to make a purchase before the end of the year. Knowing how to target the right buyer or investor is one of the many advantages a professional can bring to a home sale.

Compliments of Virtual Results

New Gadgets for Your Wish List

As you think about gift-giving this season, don’t forget to give your new home a gift of its own. Advancements in technology mean that your home can be smarter, cleaner, cooler or the hottest thing on the market. Here are some ideas for you that are available now or may be coming on the market in the future. Get them on your wish list early.

Here are some ideas for you.

• Floor plan light switch: This ingenious little device allows you to control the lighting for your entire homes from a single switch. The floor plan light switch designed by TaeWon Hwang for Yanko Design creates a floor plan of your home on a single panel, allowing you to choose from one location which rooms to light up and which to leave in the dark.
• Transparent television: Have you ever wished that the television didn’t dominate the décor? Well, now you can have a television that doesn’t upstage the house. Designed by Michael Friebe for German television maker Loewe, and using technology that combines LCD and TOLED displays, the Invisio television is virtually clear when not in use, but offers full color viewing when activated.
• Solar-powered media player: Named the Eclipse by maker Sony, this attractive gadget may block some of the light from your living room window, but that’s because it’s harnessing all that solar power to operate a wireless, environmentally friendly multi-media player. You can stream music, play podcasts, sync to your smartphone and other Bluetooth devices, all without using electricity.
• Concerned about security? The iTouchless Bio-Matic Fingerprint Door Lock uses your fingerprint to lock and unlock your deadbolt. This system is perfect for single or multiple users with up to 150 unique fingerprints encoded. As a backup system, you can use a passcode too, and during power failures there are backup keys. These door locks are available now for both right-hand and left-hand doors.
• If getting in shape is on your list, check out this elliptical-machine office desk: Paring an adjustable-height office desk with a semi-recumbent elliptical trainer, you can exercise and pay bills at the same time in your home office. The desk adjusts from 27″ to 47″ just by pressing a button, so you can switch from the trainer to your favorite office chair with ease. Average users could burn up to 4000 calories during the workweek and not skip a beat.
• Want music to sing to in the shower? Check out the Kohler Moxie showerhead with wireless speaker. It can stream your playlists, news and other audios into your shower via Bluetooth. The water-resistant speaker is easily removable from the showerhead for recharging.

Need a house to be home to your tech gadgets?

We can help you find a home that is perfect for your level of techy-ness. Give us a call and we’ll help you find a home for the New Year.

Compliments of Virtual Results

Is Painting Cabinets a Good Idea?

Gone are the days of the sticky painted kitchen cabinet that peels, chips and generally looks cheap. Modern paint finishes means you can rejuvenate or renovate your dated kitchen or bath cabinets with just some elbow grease and your own creativity.

Know your product

Like any paint job, painting cabinets is not hard, but it does require some prep work to get the perfectly finished outcome you want.

Before putting brush to wood, there are some steps you just can’t skip:

• Cleaning: the most important step in your renovation project, cleaning is the one newbies try to skip most often. Your cabinets have years of fingerprints, cooking grease, grime, smoke and other surface contaminants that can keep your paint from adhering. Your local hardware or paint store can direct you to the best cleaners and degreasers to remove that surface gunk from your cabinets. Very old cabinets, or those exposed to tobacco smoke, may need to be cleaned more than once.
• Sanding: Another step newcomers are prone to skip is proper sanding. Sanding is the hardest step because you need to break the surface of the existing finish. If your surface has nooks and crannies, you’ll want to get in there with some 100-grit sandpaper.
• Primer: Priming your cabinet doors can make the difference between a classy new renovation and a slapdash cover-up. To make your surface smooth, you need a so-called “high build” sandable primer. One primer, the Eurolux Primer/Undercoat from Fine Paints of Europe can give your doors and drawer-fronts that smooth, glassy look you want. The primer fills the wood grain, so you may need a coat or two for deeply grained woods such as oak.
• Paint: The best outcomes for kitchen cabinets come from oil-based paints because they are self-leveling. When your cupboard doors are flat on your sawhorses, an oil-based paint will fill in any ridges or imperfections to leave a smooth finish. Unfortunately, oil-based paints can be messy to work with and have toxic fumes. But, while latex paints may not be perfect, they are getting closer. These days you can find 100% acrylic paints that will create a durable finish, so check with your paint specialist to find the right one for you.
• Specialty Products: The popularity of DIY products has taken some of the extra steps out of the cabinet refinishing process. Although more expensive than the paint and primer method, Rust-Oleum makes a Cabinet Transformation kit that gives you all the products you need to get that smooth finish. They claim it is easy to use, does not require special skills and lets you skip the stripping, sanding and priming steps (but you still have to clean first).

When renovating your kitchen on a shoestring, you can get impressive results if you take your time, use the right products, and follow instructions closely. When done correctly, freshly painted kitchen cabinets can boost your home’s value and up its appeal to homebuyers.

Compliments of Virtual Results

Lighting a Fire in Your New Fireplace

As the weather chills, snow falls and socializing moves indoors, what could be more inviting than a warm cup of cocoa in front of a bright crackling fire? If your new home has a wood fireplace, here are some basics on fireplace care.

Hire a chimney sweep

Not just characters in Mary Poppins tales, chimney sweeps are professionals trained to protect your fireplace and your home from damage, debris and hazards. Certified chimney sweeps inspect your fireplace for damage to the brickwork and mortar, cracks in the tile flue liners, blockages such as bird, raccoon or squirrel nests, a build of leaves, soot, creosote and other potential causes of house fires and smoke damage.

• Hire a chimney sweep before you light the first fire.
• If your certified chimney sweep suggests repairs to your fireplace or chimney, do not ignore their advice.
• Have your chimney inspected at least once a year.
• Make sure smoke alarms are working correctly and have fresh batteries. You should have a smoke detector on every level of your home, inside each bedroom and outside the sleeping area. All alarms should be connected so that when one alarm is triggered, they all sound.
• Test your carbon monoxide detector. If you do not have one, get one installed.
• Install a chimney cap to keep birds and small debris out of the chimney and fireplace.
• Keep the damper closed when the fireplace is not in use. Not only does this keep debris from falling into your fireplace, it keeps the heat from escaping through the flue.

Property lit fires

Once you know your fireplace is safe to use, learn how to light a fire. While you may find several “sure-fire” ways to do the job, make sure to follow all safety procedures when doing so.

• Open the damper.
• Prime the flue. If your chimney is on the outside of the house, you’ll need to warm it up before lighting the fire to avoid smoke descending into the room. If your fireplace has a gas pipe, turn on and light the gas for a few minutes until the flue warms and you feel the air drafting into and up the chimney before you add wood to the fire. If you do not have a gas starter, here are instructions for safely priming your flue.
• Experts suggest building an “upside down” fire for a cleaner, longer lasting fire. To set up your upside down fire, stack larger fuel logs on the fire grate. Place smaller logs on top of these, and then place kindling and twigs on top of the stack. Lastly, top of your fire with balls of scrunched up newspaper or other tender. Light the fire from the top. As the paper burns, the smoke will exit the chimney while the paper lights the twigs and kindling. As the kindling forms coals, it will like the smaller logs and they in turn will light the larger logs.
• Allow an ash bed to form under the grate. An inch or two of ash insulates your fireplace and keeps the fire burning hotter. However, don’t allow too much ash to build up, since that will dampen your fire and make it harder to light the next time.

Stay safe and warm

Enjoy your new fireplace, but stay safe as well. If you need recommendations for a professional chimney sweep, let us know.

Compliments of Virtual Results

Holiday Decoration Safety

Each year, fire departments across the country respond to home and structure fires caused by holiday decorations. In a study by the National Fire Protection Association (NFPA) in 2011 showed an annual average of 230 structure fires that began with lights and decorations on Christmas trees and another 150 fires caused by holiday lights. Injury, fatalities and millions of dollars in property damage result from holiday fires.

Here are some decoration safety tips to keep your home safe during the holidays:

Water your live trees

Live Christmas trees require consistent water levels to stay fresh. When purchasing a tree, be sure the needles are green and fresh. If the needles fall off easily, find a different tree … fresh needles are harder to pull out and indicate a freshly cut, healthy tree less likely to catch fire. Once the needles begin dropping, discard your tree.

Buy fire-resistant artificial trees and greenery

Your artificial tree should have a label indicating that it is fire resistant. Greenery should have fire-resistant labels as well. Look for labels from Underwriters Laboratories (UL), Intertek, or in Canada, the Canadian Standards Association.

Keep your trees (live or artificial) at least three feet away from heat sources such as furnaces, baseboard heaters, fireplaces, candles or space heaters. Avoid blocking exits (doors or windows) with your tree so that there is not impediment to escape in case of fire.

Choose safe lights

Not only should your tree be fresh and green or fire-retardant, you lights should have safety labels. Avoid using lights that are old, have worn or frayed cords or other signs of excessive wear or damage. Rodents tend to like the plastic coating on stored holiday lights, so carefully check light strands for bite marks if your lights are stored in an area rodents can get to. Turn your tree’s lights off before leaving your home or going to bed.

Do not connect more than three (3) strands of mini lights, or a maximum of 50 bulbs of screw-in type lights. Avoid attaching your lights with staples, nails or tacks. Instead, use insulated light holders.

Outdoor decorations are hazards too

Each year, emergency rooms treat more than 10,000 people injured while putting up holiday decorations. Injuries can include shocks, broken bones from falls, cuts and bruises. Before heading outside to put up those lights, wreaths, bows and garlands, take a moment to make sure the conditions are safe:

• Shovel and deice walkways.
• Remove icicles or dried leaves from gutters and the edges of your roofs, railings and window frames.
• Only plug outdoor lights into a GFCI (ground fault circuit interrupter) outlet. If you don’t have a GFCI outlet, purchase a portable one at your local hardware store that is rated for both indoor and outdoor use. Only use extension cords rated for outdoor use and make sure your cord is not damaged or worn.
• Do not hang your lights from gutters using staples or tacks. Instead, use specially made gutter and shingle clips that will not damage your gutters or lift your shingles. Each bulb or icicle cord drop should have its own clip, so be sure to purchase as many clips as you need for safety.
• Use LED lights. These will save you energy, and because the burn cooler, are less likely to cause fires. Avoid using 7-watt bulbs. Although they are more brilliant, they can get dangerously hot and cause fires. Use 5-watt bulbs instead.
• Stay away from power lines. In older homes, power lines may come into the home from the roof. Keep yourself and your decorations at least 10 feet away from power lines.

Hire a professional

Above all, stay safe during the holidays. If you do not have the equipment, health and tools required to safely decorate your home, hire a professional.

Compliments of Virtual Results