Please take a listen this Sunday Morning

Hi Everyone:

Just wanted to send out an invite to everyone. This Sunday morning I will be on 105.7 Fan Radio station along with Freedmont Mortgage. I'm the guess speaker and we are talking about, well if you said Real Estate you guessed right. So if you want to take a listen anytime from 9AM-11AM, please tune in and any questions you may have please feel free to call me there and you will be on the air, 410 583-1057.

If you are too shy to call the station but have some Real Estate needs please visit my website and you can contact me from there at www.MarylandHomesbyLynnn.com

Study: Rental Payment History Can Help Boosts Credit Scores

Came across this great article about renting. Seems a good rental history can help boost your credit score. If you have any questions or need any help please contact us at www.MarylandHomesbyLynn.com

DAILY REAL ESTATE NEWS | FRIDAY, AUGUST 08, 2014

The addition of rental payment data to credit files may help more potential renters become home owners.

Experian became the first credit reporting agency to add on-time rental payments to its database. It recently conducted an analysis to determine how the added rental information has aided consumers’ credit files. The study found that subprime and nonprime residents saw the greatest positive score impact by the addition of rental histories. Nineteen percent of the study participants that were considered subprime moved to at least one higher – or less risky – risk segment by the addition, opening them up to more affordable credit and additional credit opportunities, the study noted.

For the previous unscoreable, adding the rental data has now allowed them to have a credit score, with the majority now falling in the least risky prime category too, Experian’s analysis shows.

“Consumer financing rapidly changed during the economic upheaval, and regulatory changes forced lenders to tighten the standards for the underwriting process,” says Genevieve Juillard, president of Experian Consumer Information Services. “This excluded many Americans from the opportunity to attain credit due to a limited or no credit history. Residents who pay their rent on time month after month should be rewarded and not overlooked simply because they rent instead of own the place they call home.”

Source: Experian

NOT YOUR GRANDMOTHER'S DINING ROOM TABLE

Don’t know what to do with that old piece of furniture someone left you here are some great articles to help you out.  If you would like to talk with us and get more ideas contact us at  www.MarylandHomesbyLynn.com

Written by Jaymi Naciri on Monday, 26 May 2014 10:16 am

That heirloom piece your grandmother or your great aunt or your godparents left to holds special memories. But let's face it: it's ugly.

It is. It's Ugly.

It's not your style, it doesn't match your stuff, and you can't possibly figure out how to incorporate it into your home without it looking like exactly what it is: the thing someone important gave to you that has no business in your home in its current state. Before you stuff that old dining room table or sideboard or settee up in the attic, check out these tips for making it new again.

Stain it.

An older piece of furniture that has a dated oak or pickled finish can be brought up into this century with a new stain. A mahogany stain can bring out contemporary lines and a black stain can make a dated piece feel modern again. You can also make your own DIY stain if you're looking for ways to keep the toxicity down.

Paint it.

Whether you go for something super bold, aged, fancy, or neutral, panting a piece of furniture can breathe new life into it and help it to fit in to a more modern space.

See more ideas here.

Embellish it.

Two words: gold leaf. Yes, you could get a similar look with gold spray paint and stencils, but it wouldn't be nearly as rich.

If you're planning to use gold leaf, or any leaf for that matter, remember that it is fragile, and a little goes a long way. Check out this video for more info.

Upholster it

No one said you have to live with that tired, dusty old pattern on the dining room chairs you inherited. Give them an easy update by reupholstering them in a fresh fabric.

This is an easy DIY project depending the construction of the chair. This video will help.

Decoupage it

For a fun look - and a fun family project - try this ancient art whose origin is "thought to be East Siberian tomb art" from the 12th century, according to Wikipedia. A project that includes gluing and layering strips of paper, fabric, or other textiles, and varnish to a table or other object is something the kids can get in on too as long as you take precautions. Another benefit is that the finished product will be unique to you. You can get some more decoupage ideas on HGTV.

Change the height

That old sofa table your grandmother decorated with her collection of old crystal candy dishes would be ideal as a desk, if only it wasn't so tall.

Have the legs cut down, and now you have a beautiful piece that is also functional.

Repurpose it.

You love that old fancy sideboard your husband's great-grandmother left to your family. But you're all set in that area. So, turn it into something totally new.

A sturdy dresser, cabinet, or sideboard can be turned into a one-of-a-kind bathroom vanity with a little ingenuity and a good power saw. You get to keep the memories, and you get a fab bathroom too.

 

VA Home Loans-Do you qualify???

With VA rates so low and no money down this is a must read. Many Veterans do not realize that they qualify for VA benifits as well as active duty Military. Please take a look and if we can help you in way contact us at www.MarylandHomesbyLynn.com

Eligibility

You must have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE) to be eligible for a VA-guaranteed home loan. The home must be for your own personal occupancy. The eligibility requirements to obtain a COE are listed below for Service members and Veterans, spouses, and other eligible beneficiaries.

VA home loans can be used to:

• Buy a home, a condominium unit in a VA-approved project
• Build a home
• Simultaneously purchase and improve a home
• Improve a home by installing energy-related features or making energy efficient improvements
• Buy a manufactured home and/or lot.

Eligibility Requirements for VA Home Loans

Service member’s and Veterans

To obtain a COE, you must have been discharged under conditions other than dishonorable and meet the service requirements below:

Status	Qualifying Wartime & Peacetime Periods	Qualifying Active Duty Dates	Minimum Active Duty Service Requirement
Veteran	WWII	9/16/1940 - 7/25/1947	90 total days
	Post-WWII	7/26/1947 - 6/26/1950	181 continuous days
	Korean War	6/27/1950 - 1/31/1955	90 total days
	Post-Korean War	2/1/1955 - 8/4/1964	181 continuous days
	Vietnam War	8/5/1964 - 5/7/1975 *For Veterans who served in the Republic of Vietnam, the beginning date is 2/28/1961	90 total days
	Post-Vietnam War	5/8/1975 - 9/7/1980 *The ending date for officers is 10/16/1981	181 continuous days
	24-month rule	9/8/1980 - 8/1/1990 *The beginning date for officers is 10/17/1981	24 continuous months, OR The full period (at least 181 days) for which you were called or ordered to active duty
	Gulf War	8/2/1990 - Present	24 continuous months, OR The full period (at least 90 days) for which you were called or ordered to active duty
Currently On Active Duty	Any	Any	90 continuous days
National Guard & Reserve Member	Gulf War	8/2/1990 - Present	90 days of active service
	Six years of service in the Selected Reserve or National Guard, AND Were discharged honorably, OR Were placed on the retired list, OR Were transferred to the Standby Reserve or an element of the Ready Reserve other than the Selected Reserve after service characterized as honorable, OR Continue to serve in the Selected Reserve

*If you do not meet the minimum service requirements, you may still be eligible if you were discharged due to (1) hardship, (2) the convenience of the government, (3) reduction-in-force, (4) certain medical conditions, or (5) a service-connected disability.

Spouses

The spouse of a Veteran can also apply for home loan eligibility under one of the following conditions:

• Unremarried spouse of a Veteran who died while in service or from a service connected disability, or
• Spouse of a Servicemember missing in action or a prisoner of war
• Surviving spouse who remarries on or after attaining age 57, and on or after December 16, 2003
  (Note: a surviving spouse who remarried before December 16, 2003, and on or after attaining age 57, must have applied no later than December 15, 2004, to establish home loan eligibility. VA must deny applications from surviving spouses who remarried before December 6, 2003 that are received after December 15, 2004.)
• Surviving Spouses of certain totally disabled veterans whose disability may not have been the cause of death

Other Eligible Beneficiaries

You may also apply for eligibility if you fall into one of the following categories:

• Certain U.S. citizens who served in the armed forces of a government allied with the United States in World War II
• Individuals with service as members in certain organizations, such as Public Health Service officers, cadets at the United States Military, Air Force, or Coast Guard Academy, midshipmen at the United States Naval Academy, officers of National Oceanic & Atmospheric Administration, merchant seaman with World War II service, and others

Restoration of Entitlement

Veterans can have previously-used entitlement "restored" to purchase another home with a VA loan if:

• The property purchased with the prior VA loan has been sold and the loan paid in full, or
• A qualified Veteran-transferee (buyer) agrees to assume the VA loan and substitute his or her entitlement for the same amount of entitlement originally used by the Veteran seller. The entitlement may also be restored one time only if the Veteran has repaid the prior VA loan in full, but has not disposed of the property purchased with the prior VA loan. Remaining entitlement and restoration of entitlement can be requested through the VA Eligibility Center by completing VA Form 26-1880.

Thanks for stopping by today and you can search all Maryland Homes at www.MarylandHomesLocator.com

Study Suggests New Homes are Cheaper to Maintain

Well with this article, I can say this, I know several great home builders and can find you a great home. Visit us today at www.AnneArundelCountyReal.Estate.  

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DAILY REAL ESTATE NEWS

New homes – those that are four years old or less – can be cheaper to maintain than older homes, according to data from the American Housing Survey.
Twenty-six percent of home owners spend $100 or more a month on various routine maintenance expenses for their home. However, the study shows that 73 percent of new home owners spend less than $25 a month on routine maintenance costs.
Home owners of new homes tend to spend less on energy costs too. Home owners on average spend 81 cents per square foot per year on electricity. In comparison, home owners of new homes tend to spend 68 cents per square foot per year.
Utilities tend to be less expensive too. All home owners spend, on average, 28 cents per square foot per year on water bills. But on new homes, home owners tend to average 22 cents.
The studies also suggest that owners of new homes also tend to pay less on insurance too: The median cost of all home owners for property insurance is 39 cents per square foot compared to 31 cents per square foot for new homes.
“These data highlight that a new home offers savings over the life of ownership due to reduced operating costs,” according to the National Association of Home Builders’ Eye on Housing blog. “These reduced expenditures represent one of the many reasons that the current system of appraisals needs updating to reflect the flow of benefits that come from features in a new home.”

So tell us what you think and thanks for stopping by today and contact us anytime if you have an Real Estate need. 

6 Ways to 'Green' a Home

Here are some great tips on how to "green" your home. Don't forget to stop and visit us at www.AnneArundelCountyReal.Estate

DAILY REAL ESTATE NEWS

More home owners and buyers are ranking energy-efficient and environmentally friendly home features high in surveys.
AOL Real Estate recently highlighted a few easy steps home owners can take to make their homes more “green”:

• Swap out the light bulbs: LED light bulbs are known as being 80 percent more energy efficient and lasting as much as 25 times longer than incandescent bulbs.
• Have a programmable thermostat: These devices that allow you more easily to adjust the temperature can save a home owner about $180 a year in energy costs, according to Energy Star.
• Trade in the old water heater: A heat pump hot water heater is known to be more than twice as efficient as standard electric resistance tanks, according to the AOL Real Estate article.
• Add aerators to faucets and showerheads: These devices can limit the amount of water that is used.
• Add ceiling fans: “Energy Star-qualified fans are 50 percent more efficient than conventional units and can save up to $15 per year on utility bills,” according to AOL Real Estate.
• Use Energy Star appliances: For example, replacing a dishwasher that was made before 1994 with an Energy Star-certified one can save $40 on utility bills by using less water. Energy Star-rated refrigerators can save home owners from $200 to $1,100 over the life of the appliance.

Thanks again for stopping by today and feel free to contact us with any Real Estate questions you may have.

How to Choose the Right Neighborhood

I really think this is a great read, when you are buying a home the neighborhood is so very important. When you are starting your home search go to www.MarylandHomesLocator.com, there you will find all Maryland homes. Please call us anytime with any Real Estate questions.

By:Michele Lerner

Any good Realtor will share the mantra “location, location, location” when talking about the attributes that help a home hold its value and potentially appreciate. However, no one neighborhood is right for every buyer. Determining which community meets your needs and your budget requires research and some soul searching about your priorities.
Establish Your Priorities
Before a Realtor can begin to help you look for a home, you (and your spouse or partner) should develop a list of needs and wants. For some buyers, the home itself is of paramount importance: they want a particular style or size or a big yard. For others, the neighborhood is more important. If you have an unlimited budget you may be able to find the perfect home in a desirable neighborhood, but since most buyers need to meet a budget, you may have to compromise on either the house or the community.
Next, think about what amenities you’d like to have nearby or whether you’d like to live in a rural area without neighbors. If you like to swim or golf or play soccer or your kids do, facilities for those sports should be on the list of things you look for in a neighborhood. On the other hand, you could be more focused on easy access to cultural amenities or nightlife. Think about whether you’d like to live in place where residents interact often or whether you prefer to have cordial but distant relationships with your neighbors.
Schools Matter – Even If You Don’t Have Kids
If you have children or are planning to have a family in the future, buying a home in a community with good schools is already likely to be a priority. Even if you don’t have children to educate, though, you should be aware that homes located in a good school district typically hold onto their value better than those in less highly regarded districts. In fact, Redfin real estate company completed a nationwide study in 2013 that shows that Americans pay $50 per square foot more for homes served by a top-ranked school than for homes served by an average-ranked school.
The Fair Housing Act prevents Realtors from providing information directly to buyers about specific schools, but they can share links to websites that rate schools and to local school systems.
Transportation Issues
A major consideration for most home buyers when it comes to choosing where to live is how they’ll get to the places they go regularly. In communities near or in a city, prime locations are typically close to public transit options. Many suburban communities are being designed around a ‘town center’ concept so that residents can walk to restaurants, shops and entertainment and sometimes even to work.
When you’re looking for a home, you should consider how convenient it is for you and for future potential buyers when you’re ready to sell.
Homes that are located close to a subway station or to popular commuter routes are often more costly than those that require a longer commute to a city center, so ask your Realtor to show you areas that may have similar attributes but are less expensive. Alternatively, if living in a particular neighborhood is your number one priority, you may need to compromise in terms of the size home you buy or its condition.
How to Compare Communities
It’s important to visit a prospective neighborhood at various times of day and on both weekdays and weekends to get a feel for what it would be like to live there. Look at how the homes are maintained to see if they meet your standards. Try to talk to residents about what the community is like and test out your commute at the time of day you typically go to work.
Finding the right neighborhood takes some legwork, but it’s important to choose a place to live where you want to come home every night.