12 Tips for Hiring a Remodeling Contractor

Attention Home Sellers to be, getting your house ready for sale may include hiring some contractors to do work, and Home Buyers when you buy your home, you may want to hire contractors for different home projects. Here are some great tips when looking for someone to do remodeling projects. At the bottom there are also handouts you can download.  As always need more advice, contact us at www.MarylandHomesbyLynn.com    

1. Get at least three written estimates.
2. Check references. If possible, view earlier jobs the contractor completed.
3. Check with the local Chamber of Commerce or Better Business Bureau for complaints.
4. Be sure the contract states exactly what is to be done and how change orders will be handled.
5. Make as small of a down payment as possible so you won’t lose a lot if the contractor fails to complete the job.
6. Be sure that the contractor has the necessary permits, licenses, and insurance.
7. Check that the contract states when the work will be completed and what recourse you have if it isn’t. Also, remember that in many instances you can cancel a contract within three business days of signing it.
8. Ask if the contractor’s workers will do the entire job or whether subcontractors will be involved too.
9. Get the contractor to indemnify you if work does not meet any local building codes or regulations.
10. Be sure that the contract specifies the contractor will clean up after the job and be responsible for any damage.
11. Guarantee that the materials that will be used meet your specifications.
12. Don’t make the final payment until you’re satisfied with the work.

Attachment	Size
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Download All Buyer Handouts	204.5 KB
Download "Tips for Hiring a Remodeling Contractor"	21.5 KB

Again thanks for stopping by today and visit us at www.MarylandHomesbyLynn.com
Sincerely: Lynn Nichols

PCS Checklist For Your Move

It will be time soon for PCS moves, and I know relocating can be so hard and stressful, here at Lynn Nichols Real Estate we would like to give you some tips, along with checklist, that we actual found on Military.com. If you are by any chance relocating to Fort Meade or any of the surrounding bases please contact us. You can search your Maryland Home search at www.MarylandHomesLocator.com, we have helped many of military personal find homes.

by Danielle Babb

 In making preparations for a move, it’s easy to get bogged down with all the details and things to do. Military.com can help you stay on top of it all with these handy checklists, which cover everything from packing to setting up in your new location. These ready-to-print lists will remind you what you need to do.

Be sure to take care of all the items on these lists. For example, if you’re one month away from your move and you use these checklists for the first time, make sure you’ve already taken care of the items in the “Three Months Before Moving” and “Two Months Before Moving” checklists.

These checklists can also be viewed and printed in Adobe Acrobat PDF format. You will need to download an Adobe Acrobat Reader for free if you don’t have the program already.

If you plan to do a Personally Procured Move (PPM), see our PPM Overview for more information.

#1 – Start 3 Months Before Moving  #2 – 2 Months Before Moving #3 – 1 Month Before Moving #4 – 3 Weeks Before Moving

#5 – 1 Week Before Moving  #6 – Final Days Before Moving #7 – The Big Day, Moving Day #8 – Wrap-up, After Arrival

To get more PCS tips or information, visit Military.com’s PCS, DITY, & Moving Guide.

Again thanks for stopping by and visiting us today at www.MarylandHomesLocator.com

The Hottest Outdoor Trends for 2014

Wow talking about turning your backyard into a paradise!!! If this don't help you sell your house....

Spaces by Dc Metro Home Builders National Association of Home Builders

By Melissa Dittmann Tracey, REALTOR(R) Magazine

A home’s inviting outdoor space may be just enough to get a home buyer to fall in love. TheAmerican Society of Landscape Architects recently surveyed nearly 180 landscape architects asking them to rate the expected popularity for 2014 of a variety of residential outdoor elements.

Across all categories, respondents rated the following as “somewhat” or “very in-demand” for 2014: lighting, seating/dining areas; fire pits/fireplaces; grills; installed seating, such as benches, seatwalls, ledges, steps, and boulders.

“Home owners know that designed landscapes add value to their lives as well as their property values,” says Nancy Somerville, ASLA executive vice president and CEO. “They’re interested in livable, open spaces that are both stylish and earth friendly.”

Here’s a breakdown of how home owners are sprucing up their outdoor spaces, and some of the top trends that landscape architects pinpointed for 2014 in each category.

Top Outdoor Design Elements

1. Gardens and landscaped spaces

2. Outdoor living spaces (kitchens, entertainment spaces)

3. Outdoor recreation amenities (pools, spas, tennis courts)

4. Sustainable design practices

Top Outdoor Living Features

1. Lighting

2. Seating/dining areas

3. Fire pits/fireplaces

4. Grills

Top Outdoor Recreation Amenities

1. Decorative water elements, such as ornamental pools, splash pools, waterfalls, grottos, water runnels, or bubblers

2. Spa features (hot tub, Jacuzzi, whirlpools, indoor/outdoor sauna)

3. Swimming pools

4. Sports/recreational spaces (tennis courts, bocce ball, etc.)

Top Landscape/Garden Elements

1. Low maintenance landscapes

2. Native plants

3. Fountains/ornamental water features

4. Food/vegetable gardens (including orchards/vineyards, etc.

Top Sustainable Design Elements

1. Native/adapted drought-tolerant plants

2. Drip/water-efficient irrigation

3. Permeable paving

4. Reduced lawn

Top Outdoor Structures

1. Terraces/patios/decks

2. Fencing (includes gates)

3. Pergoals

4. Decks

Thanks for stopping by and contact us anytime at www.MarylandHomesbyLynn.com

It's Taking Less to Get an FHA Loan

Well good news for folks that are thinking about buying a home and their credit is a little soft. Please contact us if you have any questions at www.MarylandHomesbyLynn.com 

DAILY REAL ESTATE NEWS

First-time and low-income mortgage borrowers may have an easier time qualifying for a Federal Housing Administration loan. Ginnie Mae, a government agency that issues bonds backed by FHA loans, reports that the average credit score on FHA-backed loans fell to 680 in 2013, and the average debt-to-income ratio rose to 40.3 percent — both indicators that credit may be easing.

In comparison, Ginnie Mae reported in January 2013 that the average credit score was 701 and the debt-to-income ratio was 38 percent.

Since last month, Wells Fargo reportedly has been qualifying FHA borrowers with credit scores as low as 600, down from a previous threshold of 640.

“The FHA theoretically allows credit scores as low as 580,” the L.A. Times reports. “But lenders, buffeted by defaulted loans and demands that they buy back troubled mortgages that they sold, generally have set standards higher since the mortgage meltdown.”

If you like you could start looking for your new home at www.MarylandHomesLocator.com

8 Quit Tips For A Tired Bathroom

Selling season is upon us and maybe you are ready to sell your house and move on to the next phase of your life. Any Realtor will tell you it is very important to have good looking and clean bathrooms. Here are some tips to get your bathroom ready for sale that are really good on a low budget. If you would like to find out more or have any questions please contact  us at www.MarylandHomesbyLynn.com  

8 Quick Fixes for a Tired Bathroom

 Remodeling a home can be expensive and exhausting. But you can breathe new life into tired rooms with just a small budget, a little sweat equity, and a healthy imagination.

California decorating consultant Gina Fulton suggests eight quick fixes to freshen the look and increase the functionality of an old, drab bathroom:

• New paint – Choose a color that brightens the space and shines with personality. Paint one wall in a bold shade. Or wallpaper one – or all four walls – in a whimsical or elegant design that says something about you.
• Vanity – Choose a new one if you can afford it – or paint the existing vanity in a bold or pastel color that offsets or complements the color of the walls.
• Drawer pulls and towel racks – The bathroom is a small space, so you may want to splurge on unique hardware that adds a touch of class.
• Sinks or faucets – If it’s been a while since you’ve perused the hardware aisle, you may be amazed at the wide variety of affordable sinks and faucets. Consider an art-glass basin or a high-arcing faucet that adds fresh perspective to the bath.
• Lighting and mirrors – Replace a small mirror with a larger one. Surround it with dressing-room lights. Or frame it to match or contrast the walls.
• Flooring – Install inexpensive tile, hardwood or bamboo flooring that updates and complements your new design.
• Artwork – Choose a theme – perhaps impressionist prints, French boudoir prints, or even a series of framed family vacation photos. Keep visual interest in mind, but be sure to use surfaces that won’t suffer from steamy air.
• New towels and shower curtain – Whip up a sink skirt for a stand-alone sink. Embellished towels and coordinating shower curtain can pull your new design scheme together and enhance the updated look.

 By Barbara Pronin

Thanks so much for stopping by and feel free to visit us at www.MarylandHomesbyLynn.com

National Weather Service Issues Winter Storm Warning for Virginia, Maryland, DC

Hey everyone I know I can speak for most Marylander's when I say we are really done with the snow, but it is coming. Please be safe and do not drive unless you really have to. Please check to see if you have flashlights, with batteries, your cell phones are charged, you have enough food and some candles on hand. Please don't forget your pets and bring them in. If you have a neighbor that is not mobile or elderly it may be a good idea to check and see if they are prepared. From everyone here at Lynn Nichols Real Estate please be safe.

The National Weather Service has issued a Winter Storm Warning for the entire Maryland, DC and Northern Virginia region.

The NWS warning, issued overnight, begins at midnight Sunday and continues until 6 p.m. Monday.

The warning is for heavy snow, sleet and freezing rain. The weather will start out with freezing rain, changing to sleet and then heavy snow. The area could see one-tenth an inch of ice or more at higher elevations, followed by 8 to 12 inches of snow.

The freezing rain and sleet will likely begin overnight Sunday changing to heavy snow and continuing through Monday. Temperatures are expected to drop from the low 30s around midnight to the low 20s through Monday. 

The National Weather Service warns that travel could be "very hazardous Sunday night through Monday, especially affecting the Monday morning and evening commutes. 

The NWS also warns that power outages are possible because of the one-two punch of ice followed by heavy snow. 

Residents are warned to only travel in an emergency, and to keep a flashlight, food and water in your vehicle if you are traveling due to an emergency.

Find Real Estate Tax Deductions

So here are just a few good reasons to own a house.

A list of top tax deductions that will save you money

By Susan Wellish

You are at the point in your life when buying a home makes financial sense, but renting a home for the past few years has not helped you to accumulate equity. Fortunately, the Internal Revenue Service (IRS) rewards homeowners with tax deductions for buying a home. These deductions will put money into your savings account. You will have the opportunity to utilize the savings to improve and repair the home, save for a rainy day or take a vacation. Below are some valid reasons to support buying a home as a tax savings plan.

The IRS provides tax deductions

Buying a home is a lifetime goal for many people. The IRS provides numerous tax deductions to help taxpayers live their dream of home ownership. The IRS allows for certain deductions to be itemized on Form 1040, the yearly tax return. In order to qualify for the IRS mortgage interest, property tax deduction, rental income and points deductions, the mortgage has to be from a secured loan. The lender must send a Form 1098 (Mortgage Interest Statement) by February 1 of each year. The IRS has programs for first-time buyers that offer additional tax savings. Tax deductions are also available for owners of homes that have rental apartments.

Property tax calculations

Most areas in the United States have counties that collect real estate taxes. Real estate taxes can be quite expensive. Location and services offered usually are the basis for a high percentage of allocations of tax to each homeowner. A property tax is calculated by a percentage times the property size, called the assessed value. Property tax serves many purposes for counties and cities, such as funding police, fire, education and street repairs. The IRS allows real estate property deduction on a primary home and any other home you own and pay property taxes on, based on its assessed value.

Positive and negative points

Purchasing a home has a closing process that requires an outlay of cash up front known as closing costs. The largest expense in closing costs is points. There are points paid to allow you a lower interest rate, known as positive points. If your financial situation is such that you won't have the cash up front for points, you can take the option of higher interest, in lieu of cash outlay for points, known as negative points. Points do have a positive tax benefit. They can be deducted. But there is a caveat to this tax deduction -- these points are deducted at the point of sale and are considered interest. A statement of how much property tax needs to be paid will be sent to the home owner each year and needs to be included with the yearly tax return in order to be claimed.

Other tax advantages

Below are popular tax deductions for those who qualify:

• Home office deduction
• Energy savings credits
• Sale of a home (qualifies for a one-time waiver of capital gains)

The home as a tax saver

Homeownership offers a quality of life and stability to homeowners. Financially, a home is a tax-savings vehicle. The primary tax deductions authorized by the IRS are mortgage interest, property taxes, state and local taxes and mortgage points. Each line of deduction is populated to the IRS Form 1040 Schedule A. On this schedule, under taxes you paid, will be the section for property taxes (line 6) and state and local taxes (lines 5). In addition the largest deduction will be the interest you paid on the mortgage (line 10). The first year you own a home it may be wise to consult with a certified public accountant who can advise and teach you how to deal with home tax deductions and how to fill out the tax return correctly. Saving money on tax deductions can put real money in your wallet.

Thanks for stopping by today and always if you have any questions please contact us at www.MarylandHomesbyLynn.com