Author Archive

One of the best ways to build your family’s financial future is through homeownership. Recent data from the Federal Reserve indicates the net worth of a homeowner is actually over 40 times greater than that of a renter. Maybe it’s time to start thinking about buying a home, especially when they are so affordable in today’s market.

Every three years the Survey of Consumer Finances shows the breakdown of how owning a home helps build financial security. In the graph below, you can see that the average net worth of homeowners continues to grow, while the net worth of renters tends to hold fairly steady and be significantly lower than that of homeowners. The gap between owning and renting just keeps getting wider over time, making homeownership more and more desirable for those who are ready.

Owning a Home is a Great Way to Build Family Wealth

For many families, homeownership serves as a form of ‘forced savings.’ Every time you pay your mortgage, you’re contributing to your net worth by increasing the equity you have in your home.

The impact of home equity is part of why Gallup reports that Americans picked real estate as the best long-term investment for the seventh year in a row. According to this year’s survey, 35% of Americans chose real estate over stocks, savings accounts, gold, and bonds. Today there are great opportunities available for those planning to buy a home. The house market has made a fully recovery, and all-time low interest rates are giving homebuyers a big boost in purchasing power. If you’re ready, buying a home this fall can set you up to increase your net worth and create a safety net for your family’s future.

Are You Ready?

To learn how you can use your monthly housing cost to build your family’s net worth, reach out to a trusted real estate professional in your area who can guide you through the homebuying process.

Filed under: Real Estate News by Olga Gilmore

There are many benefits to working with a real estate professional when selling your house. During challenging times, like what we face today, it becomes even more important to have an expert you trust to help guide you through the process. If you are considering selling on your own, known as For Sale By Owner (FSBO), it is critical to consider the following items:

Your Safety is a Priority

Your family’s safety should always come first, and that is more crucial than ever given the current health situation in our country. When you FSBO, it is incredibly difficult to control entry into your home. A realtor will have the proper protocols in place to protect not only your belongings but your family’s health and well-being too. From regulating the number of people in your home at one time to ensuring proper sanitization during and after a showing, and even facilitating virtual tours for buyers, realtors are equipped to follow the latest industry standards recommended by the National Association of Realtors (NAR) to help protect you and your family.

A Powerful Outline Strategy is a Must to Attract a Buyer

Recent studies from NAR have shown that, even before COVID-19, the first step 44% of all buyers took when looking for a home was to search online. Throughout the process, that number jumps to 93%. Today, those numbers have grown exponentially. Most real estate agents have developed a strong internet and social media strategy to promote the sale of your house. Have you?

There Are Too Many Negotiations

Here are just a few of the people you’ll need to negotiate with if you decide to FSBO:

• The buyer, who wants the best deal possible
• The buyer’s agent, who solely represents the best interest of the buyer
• The inspection companies, which work for the buyer and will almost always find challenges with the house
• The appraiser, if there is a question of value.

As part of their training, agents are taught how to negotiate every aspect of the real estate transaction and how to mediate the emotions felt by buyers looking to make what is probably the largest purchase of their lives.

You Won’t Know if Your Purchaser Is Qualified for a Mortgage

Having a buyer who wants to purchase your house is the first step. Making sure they can afford to buy it is just as important. As a FSBO, it’s almost impossible to be involved in the mortgage process of your buyer. A real estate professional is trained to ask the appropriate questions and, in most cases, will be intimately aware of the progress being made toward a purchaser’s mortgage commitment.

Further complicating the situation is how the current mortgage market is rapidly evolving because of the number of families out of work and in mortgage forbearance. A loan program that was available yesterday could be gone tomorrow. You need someone who is working with lenders every day to guarantee your buyer makes it to the closing table.

FSBO’ing Has Becoming More Difficult from a Legal Standpoint

The documentation involved in the selling process has increased dramatically as more and more disclosure and regulations have become mandatory. In an increasingly litigious society, the agent acts as a third-party to help the seller avoid legal jeopardy. This is one of the major reasons why the percentage of people FSBO’ing has dropped from 10% to 8% over the last 20+ years.

You Net More Money When Using an Agent

Many homeowners believe they’ll save the real estate commission by selling on their own. Real that they main reason buyers look at FSBO is because they also believe they can save the real estate agent’s commission. The seller and buyer can’t both save on the commission.

A study by Collateral Analytics revealed that FSBO’s don’t actually save anything by foregoing the help help of an agent. In some cases, the seller may even net less money from the sale. The Study found the difference in price between a FSBO and an agent-listed home was an average of 6%.

“Properties listed with a broker that is a member of the local MLS will be listed online with all other participating broker websites, marketing the home to a much larger buyer population. An those MLS properties generally offer compensation to agents who represent buyers, incentivizing them to show and sell the property and again potentially enlarging the buyer pool.”

The more buyers that view a home, the greater the change a bidding war will take place.

KEYPOINT

Listing on your own leaves you to manage the entire transaction by yourself. Why do that when you can hire an agent and still net the same amount of money or maybe more? Before you decide to take on the challenge of selling your house alone, reach out to a local real estate professional to discuss your options.

Filed under: Real Estate News, Uncategorized by Olga Gilmore

Fall time brings cooler temperatures and pumpkins on display all over town, beautifying homes, porches, and storefronts in shades of orange and gold. Before you pick out the perfect pumpkin to turn into a Halloween jack-o-lantern or delicious pie, head to one of the many different Austin pumpkin patches offered around town for a fun autumn outing and family-friendly experience! Note: Make sure to check out the individual locations COVID-19 restrictions.

Barton Hill Farms Pumpkin Patch – 1115 FM 969, Bastrop

Barton Hills Farms is the perfect place to enjoy an autumn day! Get your fall family photos under the cottonwood trees or take a stroll through rows of beautiful pumpkins ready to be picked. Check out their 3.5 acre Scooby-Doo corn maze then take a break and relax on a swing beneath a shady tree by the Colorado River.

Buda United Methodist Church Pumpkin Patch – 767 Main St., Buda

Admission to this pumpkin patch is free, welcoming all to come by and visit, including furry, four legged friends. The decorated patch serves as a great backdrop for family photos.

Elgin Christmas Tree Farm Pumpkin Patch – 120 Natures Way, Elgin

Don’t be confused by this farm’s name; it does have a pumpkin patch! During the month of October, they host man “Fall Fun” days as well as a Pumpkin Festival that is full of hayrides, pumpkin decorating, animals, and photo ops. Aside from activities, delicious food can also be enjoyed, including Texas BBQ and baked goods.

Evergreen Farms Christmas Tree Pumpkin Patch – 242 Monkey Rd., Elgin

Evergreen Farms is a family-friendly event where children of all ages can enjoy fall activities! Take a wagon ride into the Christmas tree fields where you will hung for mini pumpkins that are hidden in the trees. After the Hunt, enjoy pumpkin decorating on the pavilion along with great concessions and other activities and games!

Leander United Methodist Church Pumpkin Patch – 107 SW Dr., Leander

Full of pumpkins in all shapes and sizes, Leander United Methodist Church’s pumpkin patch has the opportunity for plenty of photo ops as well as scavenger hunts, stickers, and activities for the whole family! Hear stories told by a professional storyteller while sitting around a campfire while you make your own s’more! The stories will be fun for children, teenagers, and adults alike. Be sure to get there before dusk!

Manchaca United Methodist Church Pumpkin Patch – 1011 FM 1626, Manchaca

Fall is an exciting time of year at Machaca United Methodist Church in South Austin. Their annual Fall Festival and Trunk or Treat is back and better than ever! Come stroll through their pumpkin patch, decorate cookies, and take advantage of their many photo opportunities. Enjoy a Movie in the Patch with the family on October 18th, showing It’s The Great Pumpkin, Charlie Brown.

South Texas Maize Pumpkin Patch – 911 US-90, Hondo

A family adventure with food and fun for all, in Hondo, Texas! Spend a scenic, fall day at the farm at South Texas Maize Pumpkin Patch. There are so many activities to participate in including finding your way through a 7-acre maze, going on a hayride, sliding down a MatterCorn slide mountain, riding a twin cow train, unlimited jumping on a two Corn Pop-Poppers, and so much more!

Sweet Berry Farms Pumpkin Patch – 1801 FM 1980, Marble Falls

One of the Hill Country’s favorite farms is back with their annual Harvest of Fall Fun! Come out with family and friends and enjoy hayrides, mazes for all ages, pumpkin painting, scarecrow stuffing, face painting, horse rides, flower picking, sand art, a barrel train, and berry bounce! There is no entry or parking fee! All you need to do is pay for your pumpkins and any activities that you want to do.

Texas Pumpkin Fest – 10930 E. Crystal Falls Pkwy, Leander

Pumpkins, gourds, pony rides, and more! This Leander, Texas festival attracts visitors near and far every fall. Dress up the kiddos for a photo op on the hay pyramid. Get creative and join in on pumpkin painting while you enjoy one of their many food vendors.

The Jersey Barnyard – 3117 TX-159, LaGrange

The Jersey Barnyard is back again for its annual pumpkin patch. Make new family memories full of fun farm experiences. Enjoy a farm tour on the tractor and give your pumpkin a smile at the pumpkin painting station. The Jersey Barnyard also has a variety of fall décor to take home including Jack o’ lanterns, specialty pumpkins, squash, gourds, decorative corn, corn stalks, ceramic pumpkins, mums, and fall bedding plants.

The Robinson Family Patch – 3780 White Owl Ln, Temple

Come and spend the day at the Robinson Family Farm with your family and friends! There is never a dull moment at the Robinson Farm. With over 20+ attractions, you will find yourself enjoying the fall farm life for hours. Search through their corn maze, take a hayride, and pick out that perfect fall pumpkin for your and your family.

Austin Local, October 2, 2020

Filed under: Austin Events by Olga Gilmore

Once the kids have left the nest, you may be wondering what to do with all of the extra space in your home. Chances are, you don’t need four bedrooms anymore, and it may be a great time to sell your house and downsize, maybe even into a single-story home. You’ve likely gained significant equity if you’ve lived in your home for a while, so making a move while demand for your current house is high could be your best step forward toward the retirement goals you set out to achieve.

The dilemma, though, is where to go next. A big concern for many homeowners who are ready to sell is finding a home to move into, given today’s lack of houses available for sale. There is, however, some good news: the number of single-family, 1-story homes being built today is on the rise, improving your odds of finding the right home for your changing needs.

What are the benefits of buying a one-story home?

Still not sure about buying a single-story home? An article from Home Talk covers several advantages of switching from two floors to one:

1. Energy Efficient – most single-story homes only need one heating or cooling unit, and they typically stay cooler than a two-story home, both of which can lead to significant savings.
2. Easier to Maintain – Cleaning and maintenance of a single-story home can take less time and effort and better upkeep helps improve the overall value of the home.
3. Accessible for Everyone – If you’re looking for a house that provides a safe and easily accessible environment at any age, a single-story home may be the one for you!
4. Good Resell Potential – Single-story homes have a lot of benefits and are often in higher demand. This bodes well for future resale opportunities.

BOTTOM LINE

There are many benefits to downsizing into a one-story home. Doing so while demand for your current house is high might make it easier than ever to make a move. We’re happy to help if you’re ready to purchase the single-story home you need.

Filed under: Real Estate News by Olga Gilmore

Just because you fill your machine with laundry detergent doesn’t mean you don’t need to clean the washing machine itself. It sounds counterintuitive, but while your machine is ridding your clothes of dirt, it doesn’t always rid itself of that same dirt or a buildup of detergent residue. Plus, the new HE machines are especially prone to developing mold and mildew, especially if you live in an area of high humidity, which can lead to an odor developing both in the machine itsef and on your “clean” clothes. Here’s how to clean a washing machine.

How Often Should You Clean a Washing Machine?

Most manufacturers recommend cleaning the washing machine once a month. A quick internet search and survey of friends and family will confirm that the majority of us are still wrapping our heads around the idea of cleaning the machine in the first place.

Before Cleaning: Identify Your Machine and Select Your Cleanser

The type of washing machine you have will dictate which method you use to clean it. HE front loaders and top loaders need one approach; top-loading non-HE machines need a slightly different approach.

Before you start, decide what type of cleaner you want to use: white vinegar, bleach or a commercial cleanser. Using vinegar to clean a washing machine is nontoxic, and it’s readily available. Some manufacturers recommend bleach or other chemical cleansers, so check the manual for your machine. If you are using a commercial product, follow the label’s instructions for the recommended amount.

How to Clean a High-Efficiency (HE) Washing Machine (Front or Top Loader)

A monthly cleaning is especially important if your HE machine has developed an odor. Wiping down the inside of the washer will do nothing to elimate the odor. Many newer high-efficiency machines have a clean cycle, which makes the process even simpler, but the basic procedure is the same whether you have that or not.

1. Chose the “clean” cycle. If you machine doesn’t have this, select the hottest water setting.
2. Choose the added rinse cycle if it’s available.
3. Fill the bleach dispenser with your cleanser choice
4. Fill the tub to the highest level (this will probably be automatic with the clean cycle) and run the machine.
5. If you don’t have a second rinse cycle, run the rinse cycle again manually.

Once the cycle has ended, us a microfiber cloth dipped in vinegar to clean the gasket that seals the door and the area around it. Finish by wiping down the controls and the outside of the machine with a microfiber cloth dipped in vinegar or an all-purpose spray.

How to Clean a Top-Loading Washing Machine

Although older top loaders don’t generally have a cycle for cleaning, you can easily create your own version. It involves a bit of a wait time between beginning the cycle and ending it, so use that time to clean other areas that won’t be reached by the water in the tub.

1. Choose the hot water setting and the longest cycle.
2. Fill the tub to the maximum level, then pause the machine.
3. Add 4 cups of white vinegar or 1 cup of bleach to the water and let the machine agitate for a minute or two.
4. Pause the washing machine and let it sit for an hour. Dip a microfiber cloth into the soaking solution, wring it out and use it to clean the top of the drum and agitator and the inside of the lid.

If you can remove the bleach and fabric softener dispensers, do so and clean the areas beneath them with the cloth and cleaning solution as well. If they are fixed in place, clean them and the area around them. Finally, clean the control panel and the outside of the machine with the cleaning solution or an all-purpose spray. Use a dry microfiber cloth to dry and polish the surface.

5. Restart the machine and finish the cycle.

Daily (or Almost Daily) Care

The experts also have some advice for preventing a buildup of dirt and odors between cleanings. If mold and mildew are a problem, leave the machine’s door or lid open after you finish a load of laundry so that the interior will dry out completely. Before you do this, make sure curious children and pets can’t get into the machine, especially if it’s a front-loading one. Some machines have latches designed to keep the door ajar without leaving it wide open.

As a final tip, be sure to use the correct amount of detergent for your loads!

Here’s to clean clothes and washing machines. We hope this was helpful.

Marianne Lipanovich, contributor for Houzz

Filed under: Uncategorized by Olga Gilmore