ANSWERS TO YOUR QUESTIONS Navigating the Ins and Outs of Homeownership
What to Fix In and Outside Your House before Selling How to Choose the Perfect Neighborhood 3 Proactive Steps First-Time Homebuyers Should Consider
First Time Homebuyers Fulfill Dreams with the Right Mortgage
6 Powerful Home-Staging Secrets the Pros Use
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Letter from the Editors In this issue, we will touch on consumer-oriented topics regarding the sale and purchase of real estate. As the housing market continues to rebound, real estate agents and their clients still face issues of financing, pricing and strategies for showing their homes. We will offer pointers regarding how to choose a real estate agent to represent your interests, whether you are a buyer or seller, and important questions to ask your potential agent. You will also find useful information for first-time homebuyers as we outline steps they can take to proactively prepare for acquiring a mortgage loan. We will identify the credit reports and scores needed, steps that can be taken to improve credit scores, and documents they will be expected to provide for qualification.
Tracy M. Clarkin, Esq. Loan Officer, NMLS # 365318 American Financial Network, Inc. Direct: 808-369-9791 Cell (best #): 415-794-4333 TClarkin@afncorp.com Financing the American Dream
Also, the documents expected to gathered and presented to a loan officer. For sellers, we’ll examine home improvements and reveal which come closest to paying for themselves, or if any of them do. We’ll also offer sellers a list of repairs they should make before even considering putting their house on the market. Finally, we’ll share with sellers some professional staging secrets that help to ensure their properties are shown in the best possible light. We hope you enjoy this issue of our newsletter, as we enjoyed compiling it for you. Feel free to contact us if you have questions or would like your friends and family added to our distribution list.
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Contents 4. Ten Ways Owning a Home Can Save You Money at Tax Time 8. What to Fix In and Outside Your House before Selling 10. How to Choose the Perfect Neighborhood 12. 3 Proactive Steps First-Time Homebuyers Should Consider 14. First Time Home Buyers Fulfill Dreams with the Right Mortgage 16. 6 Powerful Home-Staging Secrets the Pros Use 18. Found the Perfect Home – But Furniture Won’t Fit! 19. A Bit About Mold
3
TEN
WAYS
Owning a Home Can Save You Money At Tax Time Homeownership has long been the financial foundation for realizing the American dream. If you’re like most of us, purchasing a home is the single largest investment you’ll make in your lifetime. Unlike renting a home, where you pay your landlord’s mortgage, owning a home can provide you with a financial “nest egg.” The equity your home can potentially accrue over time can be the financial cornerstone for financing your retirement, or perhaps providing an inheritance for your children. Equity isn’t the only benefit of homeownership...the following article includes 10 tax benefits every homeowner should know.
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10 WAYS TO SAVE
1. Mortgage Interest Deduction Each year the federal government allows you to deduct the interest on your monthly mortgage payment. This deduction is available for the lifetime of the loan. Say you’ve purchased a home for $250,000. with an annual interest rate of 5%. In the first 12 months you’ll pay a total $12.500 in interest. When tax time comes around you can deduct the full amount of that interest from your earned income. While there are limits on how much you can deduct, most people rarely come close to reaching them.
2. Discount Points While not an ongoing deduction, if you’ve purchased points to lower the interest rate on your mortgage, you may deduct the cost of those points on your federal income tax in the year you bought your home. Many homebuyers purchase discount points up front to save on their monthly mortgage payment and increase their cashflow. A discount point is 1% of the total amount of your mortgage. Using our example of $250.000 from above, one point would be $2,500. For each discount point you purchase, you lower the interest rate on the life of your loan by .25 basis points - dropping a 5% interest rate to 4.75%, for example.
3. Property Tax Deduction Owning a home means you are subject to property taxes which are paid to the county, city and state where you live. While the amount of interest on your mortgage tends to decrease yearly, property taxes tend to increase. This means the ability to deduct these taxes could save you more money each year. Also, should you sell your home, be sure to deduct the prorated amount of property taxes paid in that tax year.
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10 WAYS PROBLEMS TO SAVE TO AVOID
4. Home Office If you work from home, your home office can provide additional tax deductions each year. Homeowners who have a home office are allowed to deduct the amount of monthly mortgage paid based on the square footage of the office as well as a portion of the utility bills, including heat, electric and internet service.
5. Health Related Home Modifications If modifications to your home are required for health reasons, such as improving access by adding a wheelchair ramp or widening doors, the costs of these improvements are deductible. Adding special equipment that is medically required, such as an air purifying system for a family member with asthma, or an elevator or bathroom on a lower floor for a patient with a heart condition, these expenses may be deductible from that year’s taxes.
6. Home Improvements While regular home improvements are not deductible, provided you’ve saved your receipts, you can add the total cost of improvements made over time to the original purchase price of your home to decrease the amount of capital gains tax you would have to pay when you sell.
7. Moving Expenses In the event that you are required to relocate for work there are deductions available for the expenses associated with moving your family, possessions and even vehicles.
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10 WAYS TO SAVE
8. Capital Gains When Your Sell When it comes time to sell your home, the difference between the original purchase price and the sale price is considered capital gains and is considered taxable income. However, as a single homeowner you are allowed up to $250,000, married homeowners up to $500.00, before you are required to pay capital gains tax. While not a deduction, this an an excellent profit to realize before paying taxes.
9. Mortgage Interest Credit If you are a low income homeowner you may be eligible for a mortgage interest credit. Designed to make paying for your home easier, this particular deduction requires a mortgage credit certificate that can be obtained from your local or state government.
10. Prepayment Penalties Finally, in the event your mortgage has a prepayment penalty, and either when you sell or are able to pay off the balance early, you are allowed do deduct the amount of the penalty as part of your mortgage interest deduction. These homeowner deductions* are in place to encourage investment and can go along way in helping you grow that all important nest egg. *Be sure to consult your CPA or Financial Advisor to be sure you are eligible for these individual deductions.
Tracy M. Clarkin, Esq. Loan Officer, NMLS # 365318 American Financial Network Inc. Direct: 808-369-9791 Cell (best #): 415-794-4333 TClarkin@afncorp.com Financing the American Dream 7
What to Fix Inside and Outside Your House Before Selling If you’ve decided to sell your house, your next step is deciding what improvements you will make that will make it more appealing to potential buyers. Professional home stagers say this is the only way to ensure that your real estate agent will be able to sell your property in a reasonable amount of time for the price that it’s worth. It is best to plan and complete all improvements before listing, showing and having your home appraised, while taking care not to go overboard with spending. First Things First In real estate, as with so many things in life, first impressions are everything. That’s why the first thing you should focus on improving is how the outside of your house looks, commonly known as curb appeal. That’s because the exterior of your property is the first thing a potential buyer sees. Cosmetic touches such as making sure your lawn is mowed and your shrubbery is trimmed are a must. If your house has siding that is weathered you should invest in getting it pressure washed. Some companies advertise that they will pressure wash any house for just $199. Or if you want to save some money and you have the time, you could rent a pressure washer. It goes without saying that if there is any siding missing, it should also
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be replaced.
However,
If your house doesn’t have siding and it hasn’t been painted in a few years, consider putting on a new coat or two. This should include painting your front and garage doors.
something that is in fair shape but just needs to be scrubbed.
Inside Improvements Will Boost Its Value Again, inside cosmetic improvements can help you get op dollar for your home. You should focus on improving the first impression a potential buyer gets when entering the home.. If the tile in your foyer is dated or cracked, replace it.
don’t
improve
For example, sometimes bathtub faucets can be spotted, dull and grimy. That’s the time to clean and polish them, resurrecting their original shine and beauty. As with the exterior of your home, a coat or two of paint can cover up blemishes and accentuate the architectural lines of your dwelling. It’s not unusual for those putting their homes up for sale to have second thoughts after sprucing the old place up!
Super Clean Bathrooms and Kitchens Cleanliness is something a potential buyer will see, smell and notice throughout your home, but especially in the bathrooms and kitchen. As a result, home staging experts recommend thoroughly cleaning your entire house, but cleaning the kitchen and bathrooms with bleach. They also suggest fixing any dripping faucets because they are a major turn off to potential buyers. So do repair them if you have this problem. Sadly, it’s often these minor details that can kill a sale. Say Goodbye to Clutter Finally, improving the appearance of your home so it will show at its best can sometimes be an exercise in subtraction rather than addition. Staging professionals say clutter is the number one reason potential homebuyers reject some of the most pristine propertie. Clutter is insidious because it happens slowly over the years and finally forces home sellers to remove or pare down some of their favorite pieces of furniture and decorations. It also forces them to get rid of the junk that’s been accumulating over the years in their garages, basements and especially their closets. But get rid of it you must, if you hope to sell your house for a high-market price (if you really don’t want to get rid of it, rent a storage unit). If you follow these suggestions, experts say you can expect you property to stand out from the rest, sell at a good price -- and do so in a reasonable period of time!
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3 Tips to Get You Started with the Outside of Your Home 1. Go stand on the street to see
3. Don’t forget the backyard.
what clients see when driving
While that might not be part of the
up to the house. Be aware that
potential buyers’ first impression,
any negative impressions they get
you still should make sure it’s in
outside the house (landscaping not
the best condition possible. Pull
maintained or non-existent, peeling
up weeds, water plants, do some
paint, etc.) is just going to make them
sweeping (if that’s applicable) and
think that the house itself has not been
maybe purchase new furniture or
well taken care of. So even if you have
accessories (plant pots, bird houses,
spent the time and money to fix up
etc.).
the interior, it would all be wasted if the clients get a bad first impression as
And the biggest tip of all? Imagine
they drive up to the house.
yourself
as
a
potential
buyer
looking at your property for the
2. Next, step outside your front door
first
and close the door; then stand on
you getting? Would YOU buy your
the stoop and look around for 5
house? What would you like to see
minutes. While the real estate agent
changed before you put an offer on
is searching for keys and trying to
your house?
time.
What
impressions
are
open the door, the clients are standing behind and looking around. So what
Proper staging helps you sell your
are they seeing? Dead plants, old
house in a shorter time and potentially
Halloween decorations in the middle
at the price you want.
of January, cobwebs? It’s definitely worth it to take some time and clean it up. Want to go a step further? Try a new coat of paint or some new furniture or accessories.
How to Choose the Perfect Neighborhood Whether
you’re
a
first-time
local police stations can give you
homebuyer, or you’re selling to
this data. Suffice it to say, even if
upgrade to a larger home to
a neighborhood looks beautiful on
You can also get an idea of
accommodate a growing family,
the outside and there are plenty
the quality of education in a
or you’ve decided to downsize,
of houses to choose from, if you
neighborhood by comparing the
choosing the right neighborhood
find that burglaries and car theft
budget allotted by local officials to
should be your first consideration.
is skyrocketing there, it’s time to
the area compared to other areas
move on.
Another
source
is
education
While different people may seek as part of their neighborhood
planning to, the quality of a
the neighborhood. It wouldn’t
search, there are certain factors
prospective
neighborhood’s
hurt to look them up online and
everyone should consider before
schools should be a major facto
even give the education reporter
making a final decision on where
in making your choice. You can
a call. You’d be surprised how
to move.
contact the local school board
many of them will be glad to give
in the neighborhood’s jurisdiction
you their opinions of the state of
and obtain the latest stats on
education in the area they cover.
how the average student in the
Finally, you can contact the local
a
neighborhood scores on national
Parent Teacher Association (PTA)
should
proficiency tests. You can then
and get both the pros and cons
check the crime stats of the
compare them to scores of students
of the education system in the
neighborhood. This can be done
in other areas. This stat often mirrors
area. Members of this organization
online using various websites that
the quality and effectiveness of
also can tell you if the schools
breakdown this critical information
education available in a particular
have sufficient room, or if they are
by zip code. In some jurisdictions,
neighborhood.
overcrowded.
particular
10
of
community newspapers covering
move
locale,
you
into
or
section
are
you
children,
information
If
Before
have
the
of
various amenities and aesthetics
Important Factors
you
Education Budget
How to Choose the Perfect Neighborhood Traffic and Future Development When
choosing
neighborhood,
a
new
quality-of-life
is in store for major development in
should also examine whether the
the next couple of years, you really
property values are trending up or
need to weigh this factor in your
down. You can easily check recent
decision.
property sales online to find this out, or call your real estate agent
issues such as traffic and potential crowding have become important
Proximity to Schools, Stores,
and have her run the numbers. This
factors in making a decision. Let’s
Hospitals and More
is an important factor in case you decide to sell the property in a few
face it, no matter how pristine a neighborhood is, if you have to sit
Another important consideration
in gridlock for a significant amount
in choosing a neighborhood is
of time before you can reach
the proximity of your new home
The point is to take your time
your front door, it might not be
to schools, hospitals, stores, parks
and
the area for you. The easiest way
and airports. If you have a family
neighborhood
to discover the traffic volume in
member who is disabled or sick,
perfect neighborhoods until you
a neighborhood is to get in your
it makes no sense moving into a
find the one that most closely fits
car and drive around it at peak
neighborhood that is far from the
your needs.
morning and evening rush hours.
best medical facilities. If you are
If it’s easy to drive from place to
an avid runner you probably want
place, then you have a winner. If
to choose a neighborhood that
not, then you might decide to cross
is close to a park with a running
the neighborhood off your list.
trail. While some neighborhood associations take pride in the fact
If a neighborhood you’re interested
they’ve managed to block zoning
in is already fairly built out, it makes
changes that would allow a local
sense to research whether there
convenience store, if you like to
are
development
grab a hot coffee everyday on
projects in the wings. This can be
the way to work, then you have to
done by visiting the local planning
take this into consideration before
board’s website, or visit in person.
buying a home in a neighborhood
Although it’s not a given that all
that bans stores.
any
major
proposed developments will be approved, a majority of them do
Rising Property Values
make it from the drawing board
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to completion. So, if you are
Finally,
before
you
choose
a
considering a neighborhood that
neighborhood to move to, you
years.
carefully
research on
your
each list
of
3 Proactive Steps First-Time Homebuyers Should Consider There are specific steps a firsttime homebuyer
can
take
1. Check Your Credit Score
before
Just use one of the many online credit monitoring companies that
entering the real estate market
If there is a single factor that can
provide the reports, as well as your
that will greatly improve his or her
help or hurt your foray into the
current credit score for a small fee.
chances of getting financing and
world of financing a new home
being able to purchase a starter
it is your credit score, according
home.
to mortgage-finance experts. So,
2. Repair Your Credit
if you want a good idea of what
Once you get the reports you
Here are three proactive steps you
your chances are of obtaining
should carefully examine them to
should consider taking before you
such financing, you should first
make sure there are no mistakes.
contact a real estate agent or
order a credit report from each
If there are any errors, you should
mortgage broker:
ofthe
bureaus,
contact the credit bureaus and
Equifax, Experian and Transunion.
take the necessary steps to have
three
credit
them corrected. You should also
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look for any unpaid or collection accounts. If there are
is required, are gone. In general, a mortgage lender
any unpaid or collection accounts you should settle
will ask a first-time homebuyer to produce two recent
them immediately, or set up some sort of payment
pay stubs and the last two years’ W2 forms in order to
plan. At the very least, this will show you are willing to
apply for a loan. In addition, the lender will require the
pay your debts. A copy of your credit report will also
applicant to provide two months of bank statements.
show all of the credit you have available in relation to your credit lines. This is something lenders consider
The exception to this rule is the documentation lenders
carefully before making a loan. It’s known as your
require of first-time homebuyers who are self-employed
credit utilization rate. For example, if you have total
or are in commission sales. If you fall into one of these
credit availability on your credit cards of $30,000 and
categories, you should be prepared to produce up
you owe $20,000, then your credit utilization rate is 67
to three to four years of W2s. Lenders are looking for
percent. This rate has a great effect on your overall
steady income and want to make sure your last two
credit score. The lower the percentage, the higher
years or earnings were not an anomaly.
your credit score will be, and vice versa. While taking these steps may seem like a lot of work, According to industry experts, a good credit utilization
getting your credit score, working to improve it and
rate for a first-time homebuyer is less than 33 percent. If
gathering your documentation will greatly increase
your rate is higher than this, you should make a serious
your chances of acquiring a mortgage for your first
effort to pay off as much debt as possible and satisfy
home when you are ready to buy.
any unsettled notes. On average, it takes about six months to improve your credit score. 3. Get Documentation in Order As we mentioned, today more than ever, mortgage companies by law are requiring documentation of a potential borrower’s income and taxes. The days of the so-called no-doc loan, where no such documentation
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First Time Homebuyers Fulfill Dreams with the Right Mortgage When it comes to mortgages, it’s
annual credit report.
important to find the right loan officer.
Having
someone
help
you
Reviewing these reports will not
navigate through the maze of
only provide you with your credit
credit reporting is extremely useful
You want to work with someone
rating, but will alert you to any
even if your credit isn’t pristine so
who can find the type of mortgage
misinformation or errors contained
you can still apply for a mortgage.
that is right for you, whether you’re
in your report.
seeking to buy a new home or refinance your existing home.
Fulfilling Your Dreams Bad credit mortgages come with higher interest rates so it pays to
With the right mortgage, first time
The right loan officer takes pride
clean up your credit before buying
homebuyers can truly own a piece
in his or her customer service so
a home.
of the American dream.
A good loan officer will offer credit
It’s enormously satisfying to pay a
improvement ideas, or refer you
mortgage payment instead of rent
What if Your Credit is Less
to a service to help you repair you
every month, knowing that you’re
than Ideal?
credit prior to obtaining a loan.
building equity. That equity lays a
your experience will be more personalized.
foundation for your financial future
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Before you go to a lender, you
This
may
involve
setting
up
should check your credit rating.
payment plans to existing creditors,
Federal law requires that each of
challenging bad reports that are
the three major credit reporting
on your record in error, and so
agencies provide you with a free
forth.
and that of your children, too, which gives you peace of mind.
10 Tips to Buy Real Estate Without Breaking Your Budget 1. Get pre-approved for your home loan 2. Explore creative financing options 3. Sell your existing home first 4. Look for vacant real estate 5. Consider cosmetic fixers 6. Buy a major remodel project 7. Don’t discount bank foreclosures 8. Buy land with a manufactured home 9. Purchase an older, smaller home Tracy M. Clarkin, Esq. Loan Officer, NMLS # 365318 American Financial Network Inc. Direct: 808-369-9791 Cell (best #): 415-794-4333 TClarkin@afncorp.com Financing the American Dream 15
10. Buy the cheapest house in the best neighborhood
6 Powerful Home-Staging Secrets the Pros Use The art of staging a home so it will
alive with just a couple of pieces
produce to make a house look
have the most appeal to potential
of outside furniture, while a few
lived in. A few lemons on a cutting
buyers is something anyone can
strategically placed solar lights on
board in the kitchen is also not a
do, if they just follow the example
either side of your walkway will do
bad idea.
of professional decorators.
much to make your house sparkle as will porch lights kept on when a
3. Stylize Your Plain Dining
Here are six staging secrets that you
potential buyer drives by at dusk or
Room Table
can use to make your house stand
at dawn.
out and capture the attention of potential buyers:
A bare dining room table is a little 2. Make Your House Spotless
like a black hole. It is unfriendly
But Lived-In
and tends to suck the positive energy out of anyone who passe
1. Dress Up Your Porch While it’s critical to keep your house
by it. The pros say decorating such
Whether you have a large porch
super clean and spotless when it’s
a table with an assortment of small
or just a few steps in front of your
being shown, you don’t want it
colorful arrangements will breathe
house, adding a new doormat
to appear sterile or unpopulated.
life into an otherwise dreary dining
and a few exotic flowers or plants
After all, a house is a place where
chamber.
can help make your home stand
people live. Professionals use a few
out. A nice porch can come
fresh flowers in vases or a basket of
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4. Closets Wide Open Professionals say you should open closets wide after you have thoroughly cleaned and removed any clutter. By doing so, you create a feeling of spaciousness and you’re declaring
Busting the Myth That Home Improvements Pay For Themselves
affirmatively that there is larger closet space.
For
years,
cherished
homeowners
and
embraced
from 82 percent in 2003 to 57 percent in 2013.
5. Install a Pedestal Sink to Create the
the
Illusion of More Space
renovations and improvements
Here
myth
that
expensive the
payback
to their homes were great
percentages on some popular
If you have a tiny bathroom that’s
investments that would more
home improvements:
cramped and makes you want to
than pay for themselves in
scream, imagine the effect it might
the long run by adding to the
have on a potential buyer. One
overall value of their properties
back 1.9 percent of their cost
possible and inexpensive fix the pros
when they were sold some day
when the house was sold.
use is to remove the big, old sink in
in the near future.
your tiny bathroom and replace it with
•
•
a small pedestal sink and decorate it
Many
with a few red roses. The result is the
improvement contracts have
optical illusion of much space and
been signed and justified by
style, transforming the bathroom from
this financial myth.
major
home
homebuyers
many tour
Steel
Entry
doors
paid
back
73
•
their
Built-in,
only
percent
initial
cost.
back-up
power
generators only returned
Remodeling and Improvements Equals Poor Return
6. Use Art to Draw People In Unfortunately,
Garage doors only paid
of
a liability to an asset.
a
47.5 percent of their cost at the sale of a property.
prospective house
with
• Remodeling
a sun room only returned
Magazine, over the last decade,
45.9 percent of their original
they have tunnel vision. How in the
payback
cost.
world can you get them to explore
remodeling
your home? Professional stagers use a piece of artwork hanging at the top of the stairs, or a colorful vase near the back of the house to catch the eye of prospective buyers. Such a strategy gets them to view the house in its blissful totality, rather than segmenting it into little chucks.
According
to
Popular additions such as
blinders on. It’s almost as though
the entire depth and breadth of
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are
on
the job
average
has
fallen
Found the Perfect Home – But Furniture Won’t Fit! You’ve been looking for a home
Give It Away?
and you’ve found one that feels
there?
almost perfect. The location is
Maybe the problem is that you
convenient and you can picture
have a bed that’s too large for any
your family living here happily.
of the bedrooms in the “almost
However, there’s a problem. One
perfect” house. Is it a Sheraton
Don’t turn down the idea of
or more pieces of furniture you’ve
tall post field bed with canopy or
purchasing a home you’d really
had for years just will not fit. Do you
a massive Victorian piece that’s
enjoy simply because some of
buy the home anyway, or keep
been in the family for generations?
your furniture won’t fit.
looking?
Do you love it, or might another
Move It?
won’t fit is a tall cheston-chest that’s
Evaluate and Decide
family member with larger rooms
Ask yourself questions about the
and taller ceilings be very excited
possibilities. When you come up
to get it?
with answers you like, you’ve
Suppose the piece of furniture that
made your decision. Sell It?
always been in your bedroom.
Who
knows,
another
family
Could you use it in another room?
Maybe the offending piece of
member or a stranger shopping for
Might it be handsome and useful
furniture has monetary value, but
a special piece of furniture could
in the living room or dining room?
has no sentimental value. Why not
be delighted with your decision,
(Rooms downstairs often have
just sell it? There’s no need to buy
too!
taller ceilings than rooms upstairs.) Could it store games, videos, tablecloths and place mats, and silverware in its new location? If that thought process takes care of the chest, but you’re left without enough storage in the bedroom, what then? Is there a smaller chest of drawers that was used in your old guest room that would fit in your bedroom? What about putting an inexpensive chest of drawers into your walk-in closet?
18
a house based on where it’ll fit, is
Best House Color to Sell
A Bit About Mold
When you go to social events, do you
5. On large flat surfaces, such as the
make an effort to snazzy up? Of course.
side of a garage, keep in mind the
Attraction is a key factor in forming
color you choose will have a washed
There are a number of little things to
relationships and the same applies to
out appearance.
look for when purchasing a new home.
your house.
Normally things to consider include
Now we get to the fun part. After
location, wiring, the condition of the
When you put the house on the
considering the above issues, make
house, and several other factors.
market, you need to make it look good
a preliminary list of colors and buy
for dates with potential buyers. The
small cans of each color. In a private
One of these factors is mold. There
color of your house can make all the
area of the house, start applying
are different types of mold that can
difference.
samplesstrokes a couple feet long and
occur in a home and lead not only to
a foot or so wide.
structural damage, but some health
First, there is no absolutely correct
concerns too. Mold can be difficult to
answer to the best color! Instead, the
Try to paint examples in shaded areas
find in homes as it grows exclusively in
decision depends on the makeup
and those exposed to the sun.
dark and moist areas that are hidden
of your home and the surrounding
somewhere in structural areas, like attics
landscape.
Do not immediately judge the results
and basements. By the time mold shows up in actual living areas, chances are
of your experiments. Instead, wait a few hours for the paint to dry and then
Let’s take a closer look:
that it is throughout the home.
start comparing. 1. Whatever color you choose, make
Another concern is if a home has ever
sure it doesn’t clash with the other
Dry paint takes on a very different
flooded and was not properly cleaned.
homes
appearance than when it is wet.
Leaky
otherwise appropriate color could end
plumbing
and
basement
crawlspaces are other likely candidates.
in
the
neighborhood.
An
up making your house an eye-sore.
Mold can be a difficult thing to get rid
Once the paint is dry, take a long look at each sample. You will typically find
of as the only thing it needs to continue
2. The Roof. What color is the roof on
the colors look much different. You
growing is organic material such as
your home? If it is a red tile roof, off-
may find one color is perfect or you
wood and moisture. Both of these items
whites are probably going to be the
may find something a little different
are abundant in most homes.
better choice than dark green. Unless
would be best. Either way, you’ll have
you are going to invest money in a new
come up with the best house color to
Usually moisture finds its way into a home
roof, make sure the paint color doesn’t
sell your home.
through leaky roofs and foundations.
clash with it.
Both areas should be checked by an experienced mold inspector on a
3. Highlights. If there is a particular
regular basis if there is any worry of mold
part of your house that should be
beginning to grow, or if there has been
emphasized, used light colored paint
mold in the past.
around it to draw attention.
Mold can be an expensive problem. Be
4. Hide It! Conversely, if there are parts
proactive about searching for it so you
of the house that are mundane, use
save money in the long run.
darker colors to draw attention away from them.
19
Opening Doors...
...Making the Dream of Home Ownership a Reality!
Tracy M. Clarkin, Esq. Loan Officer NMLS#365318
Cell: 415-794-4333 (best number) Office: 808-369-9791 Fax: 888-373-4565 TClarkin@afncorp.com www.afncorp.com/tracyclarkin
3 Park Plaza Suite 450, Irvine, CA 92614. American Financial Network, Inc. is licensed by the California Department of Business Oversight under the Finance Lenders Law License (6054548) and holds a CA Bureau of Real Estate, Real Estate Broker’s License (01317581) and Hawaii Mortgage Loan Originator Company License (HI-237341) under Nationwide Mortgage Licensing System (NMLS), unique identifier of 842517. Broker is performing acts for which a license is required. Refer to www.nmlsconsumeraccess.org and input NMLS #237341 to see where AFN is a licensed lender. In all states, the principal licensed office of American Financial Network, Inc. is 10 Pointe Drive, Suite 330, Brea, CA 92821; Phone: (909) 606-3905 (NMLS ID#237341). This is not an offer for extension of credit or commitment to lend. All loans must satisfy company underwriting guidelines. Not all applicants qualify. Information and pricing are subject to change at any time and without notice. The content in this advertisement is for informational purposes only.