Tuesday, April 17, 2018...4-A NORFOLK DAILY NEWS, TUESDAY, APRIL 17, 2018 Simple ways to cut mortgage costs 20 percent of the sale price will have to pay private mortgage insurance,

Tuesday, April 17, 2018

2-A NORFOLK DAILY NEWS, TUESDAY, APRIL 17, 2018

Growing trends in today�s homes to be a slight trend toward more modest homes as people consider affordability and maintenance on larger properties. The National Association of Home Builders states buyers are now looking for smaller, more livable homes with flexible floor plans, energy-efficient appliances and plenty of storage space.

• Matte finishes: Stainless steel and luster have been popular for years. However, the next big thing is matte finishes on faucets, appliances and even in countertops. These less flashy finishes are prized for their warmth and elegance. While some high-end models with matte finishes have been available for several years, even less expensive models are now available.

• Smarter technology: Many homeowners are embracing smart technology throughout their homes, but it’s not just lights that turn on with voice command or more efficient thermostats. Innovative technology includes toilets that can autonomously stay clean and sanitized, refrigerators equipped with cameras so homeowners can see the contents inside and indoor food recyclers that can turn food waste into fertilizer.

Staying abreast of the ever-changing trends in home improvement and real estate can help consumers make the best choices with regard to buying and building their homes.

Although the heydays of the real estate boom of the early 2000s have not quite returned, things look positive. In the United States, 1,226,000 new homes were built in 2016, according to data from Consumer Reports. That was the most since 2007.

Resales also have been more promising. The National Association of Realtors® says the median number of days a home was on the market in April 2017 reached a new low of 29 days. However, low supply levels did stanch existing home sales somewhat. By mid- 2017, the market was a seller’s market, with more people in the market for homes than properties available. But sales during that time were still outpacing sales figures from a year prior.

Low interest rates on mortgages and more confidence in the economy has driven many people to make improvements to their existing homes. As is typical, the things homeowners are looking for in 2017 have evolved from years past. The following are some trends that are helping to steer the real estate market further.

• Smaller homes: Home sizes in the United States steadily increased for decades, eventually leading to an average of 2,453 square feet in 2014, according to U.S. Census figures. However, Realtor.com reported in 2015 that new construction homes have already begun to shrink by 40 square feet. There seems

Did You Know Prospective real estate investors who hope to buy, hold and rent out their investment

properties should first interview potential property managers before buying homes. While it’s possible to find property managers willing to manage single-family homes or duplexes, the financial resource Bankrate.com notes that many property managers prefer to manage large apartment complexes instead. Managing properties is hard work, and without skilled property managers on their side, real estate investors may become overwhelmed by the responsibilities of taking care of their real estate investments while simultaneously trying to maintain their own residences. Before buying investment properties, prospective real estate investors should interview various local property managers or property management firms, inquiring about their fees and what is included in those fees. If the cost of hiring property managers drastically cuts

into the profits investors hoped to make off their investment properties, they might be better off looking to invest their money in areas other than real estate. Prospective investors can compare the potential return on investment after the cost of property managers has been factored in to the return they might get from more traditional investments to determine if investing in real estate is a sound financial decision.

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NORFOLK DAILY NEWS, TUESDAY, APRIL 17, 2018 3-A

Norfolk home buyers to have more options soon single-family homes. There has been building going on in Norfolk, but not even enough to keep up with the shortage year-to-year, let alone to fill that gap. These developers are looking to fill that gap,” Eckert said.

Eckert said a major goal of Legacy Bend is to make the homes affordable. The development will feature two-story homes with a smaller footprint but with the amenities of a new home — including a master suite, three bedrooms and a garage — all at at a price of less than $200,000

“There’ll be a variety of homes,” Eckert said. “A lot of (the next tier homes) will be in that $250,000 range — then there’ll be some pockets of the neighborhood that are nicer and closer to the $300,000 range.”

Eckert said Legacy Bend will have a “neighborhood feel” to it, which is one of the goals of the developers.

“They’ve been studying neighborhoods in Indiana and working with an architect there,” Eckert said. “It’s a unique concept Norfolk hasn’t really seen.”

Eckert said part of that neighborhood feel of Legacy Bend would include narrower streets to encourage slower driving and, as a result, be conducive to residents talking walks throughout the neighborhood.

“Streets are narrower, so it’s more of a walkable location — like a walkable neighborhood — plus lots of trees and lots of landscaping,” Eckert said. “They

By MIKE BUHLER [email protected] Norfolk has had a housing shortage

for several years now — but that is slowly beginning to change.

Several new housing developments are rising up in and near Norfolk, including such projects as Blackberry Heights, Wyndham Hills, Madison Villas and Legacy Bend. The latter development is one of the newer ones to come to the forefront.

Legacy Bend will be located south of Meadow Ridge in northeastern Norfolk and consists of about 65 acres with three different kinds of residential zoning — R- 1 (single-family residential district), R-2 (one- and two-family residential district) and R-3 (multiple-family residential district).

The land that will be the home of Legacy Bend was owned for many years by the late J. Paul McIntosh of Norfolk and is being developed by Mark Otto of Grand Island. Legacy Bend will have about 200 single-family homes, including some townhomes and apartments.

“They’ve been looking at this land for a while, as have multiple developers,” said Megan Eckert of Real Living Advantage Real Estate of Norfolk, who is also involved with Legacy Bend. “It’s a huge project to develop land alone — and not only do that, but also build this number of houses.

But the need is present, she said. “Norfolk did a housing study two years ago that showed us a shortage of 700

have a lot of greenspace planned in among the houses. They have dog parks planned (plus the other greenspace) — just a really community feel is what they’re going for in the neighborhood.” It also will not be long until Legacy Bend is up and running. Four model homes in different styles are slated to be finished before the end of this year.

“They hope to have their first model homes done by around Thanksgiving,” Eckert said. “They will start moving dirt in June and building from there.”

Legacy Bend is not the only housing development rising up in Norfolk. Lincoln native Devon Wegner is the driving force behind Blackberry Heights in the northwestern part of Norfolk, while Robert Dover of Coldwell Banker Dover Realtors is involved with Meadow Ridge, which is located just north of Legacy Bend. Dover is also involved with Wyndham Hills, which sits north of the Eldorado Hills Golf Course.

Wegner said he expects the new lots at Blackberry Heights to be similar to the original lots there in terms of size and building covenants. Meanwhile, the expansion of Meadow Ridge is in the process of adding 18 duplex units and seven single-family lots, while Wyndham Hills also has added new lots in the last year.

Last but not least,

Madison Villas will consist of 20 newly constructed duplex-family homes. The project will consist of three-bedroom, two-bathroom homes, at approximately 1,425 square feet. Each unit will include attached single-car garages and exterior amenities like brick and stone accents, covered back porches, raised garden beds and even some green-built standards.

Eckert said she sees the the alleviation of Norfolk’s housing shortage as a major positive for the city and the area.

“I think a lot of outside developers are nervous to come to a smaller town,” Eckert said. “If they’re from Omaha or Lincoln, the numbers aren’t here sometimes — but I think they saw the opportunity with the housing shortage, the land opportunity with J. Paul and just decided that they could make it work.”

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Simple ways to cut mortgage costs

20 percent of the sale price will have to pay private mortgage insurance, or PMI. But once the balances on such mortgages falls below 80 percent, homeowners can cancel such insurance. Homeowners may also be able to stop paying PMI by having their homes reappraised.

• Refinance the loan. Refinancing a loan also can save homeowners substantial amounts of money each month. Homeowners are typically eligible for lower interest rates when refinancing their loans, meaning they will pay less in interest each month. However, refinancing is not free, so homeowners should first check the going home interest rates and examine their credit scores to see if the interest rate they’re likely to get upon refinancing will save them money. The cost of refinancing might be more than homeowners can save.

• Request a tax reassessment. Real estate values increase and decrease, and homeowners who feel their homes have decreased in value can request that their homes be reassessed. Homeowners whose homes are assessed at a value lower than the current value can expect to pay less each month in taxes.

Homeowners hoping to cut mortgage costs have various options at their disposal.

Monthly mortgage payments are the biggest single expense for many homeowners. So it’s understandable why plenty of homeowners would love to trim those costs.

A host of factors determine how much homeowners pay for their mortgages each month. The cost of the home, the amount of the initial down payment and property taxes, which are often folded into monthly payments, will factor heavily into the cost of home ownership. While homeowners may feel as though there’s little wiggle room to cut the costs of their mortgages, there are several ways to do just that and potentially trim years from the life of a home loan.

• Make bi-weekly payments. Making bi-weekly instead of once-a-month payments can save homeowners substantial amounts of money. A year’s worth of once-a-month payments equates to 12 payments per year. But homeowners who pay on a bi-weekly basis will make 26 half payments, or 13 full payments, per year. That extra annual payment can be applied directly to the principal, dramatically reducing how much homeowners pay in interest over the life of their loans.

• Stop paying PMI. Homeowners whose initial down payments are less than

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Create a sale-worthy showplacecan make a home appear cluttered. Cleanout closets and cabinets, so that whenbuyers “snoop” during appointments oropen houses they see orderly storageareas. If closets are brimming with stuff,buyers may assume the house doesn’thave enough storage space and move on. Make it light and bright.

Open up all of the drapes and blinds,and turn on overhead lights so the houseis well-lit. Add table lamps or otherfixtures to especially dim rooms. Create a hotel experience.

Forbes suggests making bathroomslook like a spa. Stack a few prettywashcloths tied with ribbon, add somescented candles and faux plants and buybathmats and towels in coordinatingtones.

Remove extraneous items from kitchencounters and replace them with vases offlowers. In addition, set up dining spacesas if one were sitting down to a meal, andensure appliances are sparkling clean. Use common ‘scents’.

Skip the fish, bacon or other aromaticmeals for a few days, as such foods canleave lingering aromas. Baked goods,vanilla and cinnamon might make formore appealing scents.

Making a home sell fast involvespreparation and the knowledge thatbuyers are often greatly influenced bytheir first impressions.

The sentiment “don’t judge a book byits cover” can be applied to manysituations. When it comes to selling theirhomes, homeowners should rememberthis adage as they prepare their homesfor prospective buyers.

Homeowners who want to make theirproperties stand out can take thefollowing steps. De-personalize the home.

Homeowners fill their spaces withfamily photos, heirlooms, personalinterests, and other conversation pieces.Prospective buyers may not be able to seepast personal belongings and may evenbe distracted by them. For example,buyers who have strong beliefs aboutanimal welfare may not buy a homedisplaying hunting trophies. Removepersonalized items where possible,replacing them with generic items. Improve the exterior.

HGTV says that curb appeal is crucialto making a strong first impression. Amessy or lackluster landscape can turnbuyers away even before they reach thefront door. Mow the lawn and make sureshrubbery has been trimmed. Seasonalpotted flowers and plants can help makethe house look polished. Repair cracks ordamaged walkways, and consider a freshcoat of paint on trim around windows anddoors. Pressure-wash siding if necessary. Put things in storage.

Rent a storage unit to house items that

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3 Ways to use your lawn to improve curb appeal prospective buyers and potentially get the asking price or more when selling the home. Improving curb appeal makes even more sense in today’s real estate market, when many people do their own searching via real estate websites such as Trulia or Zillow. When using such sites, buyers will likely be less inclined to click on a listing if exterior photos of the property are not eye-catching.

Various projects, including tending to lawns and gardens, can improve curb appeal. An added benefit to focusing on landscaping to improve curb appeal is it promotes spending time outdoors in spring and summer. In addition, many lawn- and garden-related home

Returns on home improvement projects vary. In its annual Cost vs. Value Report, Remodeling magazine notes the projects that yield the best returns on investment in a given year. But a host of factors, including the type of market (buyers’ or sellers’) and the region where the home is being sold, ultimately combine to determine if homeowners’ investments in home improvement projects will provide the returns they were hoping for.

Though there’s no way of guaranteeing a home improvement project will yield a great return, real estate professionals often cite improving curb appeal as an excellent way to attract

improvement projects need not require professional expertise. 1. Maintain a lush green lawn.

Lawns that fall into disrepair may not give buyers a correct impression about how homeowners maintained their homes. Lawns with multiple dead spots and grass that appears more brown than green may lead many buyers to assume that the home’s interior was equally ill- cared for. Maintaining lush green lawns is not as difficult as it may seem. Applying fertilizer and aerating at the appropriate times of year (this varies by region) can promote strong roots and healthy soil, making it easier for grass to survive harsh conditions like drought. When watering in summer, do so in early morning or evening so as little water is lost to evaporation as possible. 2. Address brown patch.

Even well-maintained lawns can fall victims to brown spots. According to the lawn care professionals at TruGreen, lawns in regions with hot temperatures and high humidity can be infected with brown patch, a common lawn disease that is caused by fungus, which can produce circular areas of brown, dead grass surrounded by narrow, dark rings. Penn State’s College of Agricultural Sciences notes that removing dew that collects on grass leaves each morning, which can be accomplished by mowing or dragging a water hose across affected areas, can be an effective way to reduce

brown patch. Homeowners without much lawn care experience can consult professional landscapers to address the issue. But those looking to sell their properties should note that buyers often walk the grounds of homes they are considering buying. So addressing any issues on the lawn should be a priority for sellers. 3. Confine dogs to certain areas.

Dog owners may want to let their pets roam free in their yards. But homeowners about to put their properties up for sale may want to confine their four-legged friends to certain areas. That’s because dog urine can be high in nitrogen. Nitrogen itself is not harmful to lawns, but in high concentrations it can contribute to yellow or brown spots. Also, highly acidic dog urine may even adversely affect pH levels in the soil.

Curb appeal can go a long way toward helping homeowners sell their homes, and a lush lawn can be used to catch the eye of prospective buyers.

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Simple ways to quickly boost credit scores

lenders, are paid on time. • Pay down balances and keep them

low. Paying bills on time might not be enough to dramatically improve credit scores if consumers are still only paying the minimum amount each month while maintaining high balances. After payment history, amounts owed is the second biggest influence of most consumers’ FICO scores, accounting for 30 percent of an individual’s score. So in addition to paying on time, consumers should try to pay more than the minimum amount due each month, ideally paying balances in full each month.

The road to great credit begins with consumers. Consumers who demonstrate an ability to pay bills on time and stay out of debt can make themselves more attractive to prospective creditors, which can ultimately save them thousands of dollars when they purchase homes and/or vehicles.

While strong credit scores take years to build, men and women looking to improve their scores can begin doing so rather quickly. Scores will not skyrocket overnight, but they will begin to improve if consumers begin taking the following steps.

• Pay bills on time. Paying bills on time is one of the most effective and simplest ways for consumers to improve their credit scores. One of the credit scores lenders use to determine if they will extend credit to a given applicant is the FICO® score, which is generated by the Fair Isaac Corporation. According to the Fair Isaac Corp., a FICO score is broken down into five categories, some of which factor more heavily than others.

An individual’s payment history accounts for 35 percent of his or her FICO score, making it the most influential of the five factors for people who have been using credit for a long time. (Note: People with a nonexistent or greatly limited credit history may have their FICO scores more influenced by other factors.) If necessary, set up automatic payments so all bills, but especially bills owed to creditors, such as credit card companies and student loan

• Study your credit report. Credit scores can sometimes fall victim to errors on a person’s credit report. A 2012 Federal Trade Commission Study found that roughly 25 percent of all consumers had errors on their credit reports that adversely affected their credit scores. Consumers who suspect their credit score does not reflect their credit worthiness should examine their reports, which are available to all consumers once a year for free, for mistakes. Report any mistakes to Equifax, Experian and/or TransUnion.

• Wait to apply for new lines of credit

or mortgages. Consumers’ credit scores take a small hit each time they apply for new lines of credit, whether it’s a credit card or mortgage. Consumers who want to quickly improve their scores should refrain from applying for new lines of credit until they have increased their scores to a point where they won’t mind seeing those scores take a small dip.

Consumers’ credit scores can affect their lives in various ways. While it takes time to build strong credit histories, consumers can take small steps to begin improving their credit scores right away.

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Exploring condos and townhouses on what can and can’t be done to the property. Townhouses

Townhouses are usually multileveled attached properties. Townhouses may fall within a row of other homes or be an end unit where only one side is attached. Many people are drawn to townhouses because of their various levels and architectural styles. Some also feel that townhouses provide more of a traditional home feel than condominiums. Townhouses may come with a small parcel of land, a driveway or a private garage.

Although there may be some community amenities accessible to owners of townhouses, such amenities are rare. However, because townhouse communities do not handle as much maintenance — exterior repair and roof maintenance may be the responsibility of the townhouse owner — homeowners association fees tend to be less expensive than those incurred by condo owners.

Townhouse owners typically take ownership of the home, the roof and the land that lies below it. However, both townhouse and condo owners are urged to read the bylaws of their communities, which should specifically list responsibilities of the owner versus the homeowner’s association or condo board.

Condos and townhouses have similarities and differences, but both can be ideal places to live for those who desire help with maintenance and worry-free living.

Individuals have many options when seeking places to call home. Among those options are condominiums and townhouses. While quite similar, condos and townhouses are different. Learning what sets these residences apart can help people find the right fit for them. Condominiums

Condos are private residences owned by an individual or family in a private building. According to Realtor.com, condos are similar to apartments. However instead of paying rent, condo dwellers own the space. Condos share common areas, such as pools, recreation rooms, gyms, and outdoors spaces. People may be attracted to condos because there is very little maintenance involved. Condos can be in large buildings similar to apartment buildings, and living spaces may be confined to one floor. High-rise condominiums may resemble skyscrapers, where a condo owner shares ownership of the land, the roof, the staircases, and the exterior of the condominium complexes. The only thing the condo owner may own outright is his or her individual living space.

Condo owners typically rely on maintenance companies and other contractors to handle the repairs and upkeep of the spaces outside of the interior of one’s specific condo. Residents typically pay condominium fees to a condo board to manage and cover these expenses. Because of the multiperson ownership, condos place strict restrictions

Family-friendly places to call home

healthcare systems, availability of daycare, and recreational options.

United States • Overland Park, Kansas • Madison, Wisconsin • Plano, Texas • Seattle, Washington • Freemont, California • Minneapolis, Minnesota • Portland, Oregon • Naperville, Illinois • Columbia, Maryland • Arlington, Virginia • Boise, Idaho • Provo, Utah

Please note these family-friendly cities and towns are not listed in order of attractiveness to families. Those considering relocating are urged to visit a city or town to get a feel for the community for themselves before buying a home.

What makes a home inviting to one person may deter another. For example, some people want to reside in urban centers in close proximity to public transportation, culture and nightlife, while others may be looking for a swath of property to raise livestock or enjoy privacy from neighbors.

Data from the U.S. Census Bureau indicates the average American can expect to move an estimated 11.4 times in his or her lifetime. Parents or people who plan to start families may seek out towns or cities that cater to family-friendly pursuits. Locations that cater to families may be good places to establish roots. The following are several locales that are family-friendly, based on metrics and methodology from sources such as WalletHub, RewardExpert, Forbes, Today’s Parent, and Reader’s Digest Canada, among others. Factors taken into consideration include cost of housing, quality of local school districts, quality of

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Making a family move easier Create some familiarity

Set aside boxes or bins that will house kids’ toys or things that the family recognizes. These may include photographs, games, throw blankets, or the creature comforts of home. Make these the first items that are unpacked upon moving into the new house. Use the agent as a resource

Many real estate agents live in the towns where they make their living. Find out if the agent can set up a meet-and- greet or if he or she knows of any clubs or leagues that suit your family’s interests. Making a few introductions ahead of time will give children and adults some familiar faces on their first days in their new home.

Families shouldn’t shy away from making their own introductions as well. Knocking on a few neighbors’ doors and letting them know a new family is coming to the street can pave the way for familiarity and friendships. Stay in touch

Encourage children to stay in touch with their current friends. Video chat enables kids to see and speak with peers. When things settle after the move, arrange for a surprise play date where children can introduce their old friends to newer ones. Stick to a routine

One of the ways to breed familiarity is to stick to the same routine. If a big Sunday family dinner was the norm, continue the tradition in your new home. Wake in the morning and go to bed at the same time. According to Vanessa Lapointe, a registered psychologist in

Whether or not to relocate can be a difficult decision. Sometimes such decisions are borne out of necessity when a parent is relocated by his or her company. Other times it is a personal reason to try out a new neighborhood or upgrade to a larger home. Data from the U.S. Census Bureau indicates a stable annual rate of moving hovering at around 12 percent of the population since 2008.

Whatever reason is behind a move, it can take some time to adjust to both the idea of moving and the new living space — especially for children who may seem disconnected from the decision. The following tips can make the transition a little easier for families. Talk about it

Do not blindside children with a move. Begin having conversations as a family as soon as the possibility of moving arises. Involve the children in some of the decisions. Ask about the features they want to see in their new home. Explain that people, be it prospective buyers, real estate agents or movers, will be visiting your current home and that this may be a little disruptive. Talk about the reasons for the move, such as a new job or that the family has outgrown the space. Kids can process much more than many adults give them credit for. Discuss any concerns

Children may have concerns about the move that differ from adults’. Many of these may pertain to fears about making new friends or coursework at a new school. Let them voice their opinions. Removing some of the mysteries by visiting schools or local hangouts before the move is made can satisfy some fears.

Surrey, British Columbia, structure and routine are key for children. Try to focus on one new thing at a time to minimize stress.

Moving can be exciting and scary at the same time. Children may be anxious about the process, but families can work together to iron out the kinks and settle into their news homes successfully.

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Tips for first-time real estate investors

interest rates than those for home buyers borrowing to purchase a primary residence, says Quicken Loans. Investors should not count on getting the same or better interest rates for their investment properties that they did when buying the homes they currently live in. Financial reserves

Some lenders may require that prospective investors have sizable financial reserves before they will lend them money to invest in real estate. Some may require that borrowers have several months’ worth of reserves to finance both their personal lives and their investments.

If a 20 percent down payment would make that impossible, then prospective investors may want to wait a little longer to invest and save more money until their financial reserves would prove more acceptable to lenders.

Investing in real estate can yield big returns. But first-time investors should know that such investments are vastly different than investing in a home for oneself.

Real estate can be a good investment that helps build wealth and secure a financial future. According to Investopedia, average 20-year returns in commercial real estate hover around 9.5 percent, while residential and diversified real estate average returns of 10.6 percent.

Such figures may seem too good to ignore for many prospective real estate investors. But investing in real estate can be risky, and it’s important that first-time investors consider a host of factors before deciding to delve into the real estate market. Current finances

Real estate can potentially yield big returns, but these may only materialize after investors spend ample amounts of money refurbishing or even maintaining their investment properties. Prospective investors without the capital on hand to finance repairs or routine maintenance may find it difficult to make their properties appealing to potential tenants, which can make it harder to meet mortgage payments. Prospective investors who already have sizable debts, be it consumer debt or existing mortgage payments, may want to pay down those debts before investing in real estate. Down payments

According to Wells Fargo, mortgage insurance does not cover investment property, and loans typically require a minimum down payment of 20 percent of the value of the property. So prospective investors cannot count on mortgage insurance to finance their investments in real estate. Investors should not just make sure they can meet that 20 percent requirement, but also ensure they have enough capital left after making their down payments to address any repairs that need to be made. If not, they might have trouble attracting renters willing to pay enough in rent. Interest rates

Prospective real estate investors may be surprised to learn that investment property loans are often subject to higher

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Tips for buying a home in a seller�s market

is typically considerably more than buyers are willing to borrow. In a seller’s market, bidding wars can quickly drive up prices, but buyers should stick to their budgets so they are not house poor after buying. Sticking to a budget can be difficult in a seller’s market, but such patience will likely pay off in the long run.

• Be ready to compromise. Unless they have unlimited budgets, buyers often must compromise when purchasing a home. That’s especially true in a seller’s market with limited inventory. Buyers who need to buy a home must identify their needs versus their wants and recognize the likelihood that they will have to compromise.

• Work with real estate agents. Some buyers may be tempted to go it alone, searching for and ultimately buying homes without the help of real estate agents. That can be a foolish move in a seller’s market where competition is high and inventory quickly disappears from the market. Veteran real estate agents have worked in buyers’ and sellers’ markets, and buyers can use that experience to their advantage. In addition, real estate agents likely have access to inventory before homes appear on popular real estate websites, giving buyers working with them a leg up in competitive markets.

Buying a home in a seller’s market can be fast-moving and very competitive. But various strategies can ensure buyers still find great homes at great prices in such markets.

The real estate market can be difficult to navigate for both buyers and sellers. First- time buyers can easily become overwhelmed as they search for homes, while sellers hoping to get the best price for their homes might be frustrated if offers are slow to come in or fall short of their asking prices.

If met with an underwhelming market, many sellers can pull their homes off the market and wait until it becomes more advantageous to sell. But buyers, particularly those shopping in a seller’s market, may not have that flexibility. Buying in a seller’s market can be competitive and frustrating, but buyers can employ various strategies to survive such markets and land the homes of their dreams.

• Get mortgage preapproval. Sellers’ markets typically feature low inventory, which can make the buying process very competitive. Prospective buyers who do not have a mortgage preapproval letter in hand when making offers may find themselves losing out on their dream homes to fellow buyers who have gotten preapproval from a lending institution. Sellers may be impatient with buyers who have not yet been preapproved for a mortgage, even accepting a lesser offer from buyers who are ready to begin transactions immediately. The preapproval process is relatively quick and simple, so buyers should not hesitate to apply.

• Stick to your budget. Lenders will indicate to prospective buyers how much they’re willing to lend them, and that figure


Tips when starting a neighborhood watch

responsible for disseminating information about the program to their neighbors, keeping them up-to-date on any crime or issues in the neighborhood as well. Captains also will serve as liaisons between the community and local law enforcement.

Men and women who volunteer to serve as block captains should devise a regular way to communicate with fellow watch members and residents. Email can be effective and easy, but keep in mind

that older residents may prefer phone calls or direct contact.

Once community members have agreed to participate,

organizers and block captains can create maps that highlight the homes of group members, including their phone numbers

and/or email addresses as well. Working with law enforcement

The cooperation of law enforcement can be considerable for

neighborhood watch organizers. Speak with local agencies, asking if they provide training for watch programs. Such training may teach observation techniques and offer suggestions on reporting crimes.

Some local law enforcement agencies may even provide community members with neighborhood watch signs that participating households can post in their yards. Such signs can serve as a deterrent to prospective criminals and potentially help community members in distress.

It’s important that neighborhood watch programs also discuss vigilantism with local law enforcement agencies.

Neighborhood watch programs can provide communities with a sense of security while serving as a low-cost deterrent to crime. The National Crime Prevention Council even notes that watch groups can serve as a stepping stone to community revitalization. Establishing a neighborhood watch program is no small task. Such programs are most effective when the entire community lends its support and participates. Men and women hoping to start watch programs in their communities can consider the following strategies, courtesy of the NCPC. Getting started

Gathering neighbors and fellow community members to gauge levels of interest and discuss the challenges ahead is a great first step toward establishing a neighborhood watch program. Before hosting your first meeting, contact the local police or sheriff’s department and ask if an officer or deputy can attend the meeting and provide insight.

When planning the initial meeting, give fellow residents ample notice and choose a location that’s easily accessible to all.

At this initial meeting, discuss the purpose of the program and ask fellow community members how willing they are to participate, including how much time they can realistically devote. Moving forward

Once the decision has been made to start a program, organizers can then ask for men and women to serve as block captains. Block captains will be

Neighborhood watch participants should never take the law into their own hands. Block captains should emphasize to members that the point of the watch is to observe and alert.

Neighborhood watch programs can help make communities safer. Learn more at www.ncpc.org.

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How empty-nesters can transform their homes an artist’s studio, now is an ideal time to do just that. Figure out which supplies you will need and begin reworking that former bedroom into a new sanctuary for leisure interests. • Guest suite:

If you’ve never had a spare bedroom to entertain guests, a child’s former bedroom can fit the bill. It may not be that difficult to transform such spaces into relaxing and inviting rooms for overnight guests. Be sure there is at least a queen-sized bed and a dresser or chest of drawers to stash belongings. Select paint colors and linens in neutral tones so the room will be inviting to guests. • Living room redo:

When there’s an entire soccer team coming over to hang out, that large

After bringing home a bubbly baby boy or girl, it can be hard for parents to imagine that a day will come when their kids are off to college and then onto their own apartment or house. After spending decades nurturing and caring for children, parents are then left with a suddenly quiet house and probably much more time to spare. If saying goodbye to the kids also means extra house, there’s the option to downsize or make that extra space more useful.

Homeowners who choose to stay put can renovate vacant rooms into spaces that meet their newfound needs. • Hobby haven:

If you’ve always meant to set up a crafting room, home-brewing station or

Steps to take before an appraiser�s visit may be vulnerable to insect infestations that can lead to structural problems with the home. While a dirty home is not necessarily an indicator of infestations or a reflection of a home’s value, a clean home will create a stronger first impression with the appraiser.

• Make any necessary repairs ahead of the appointment. Homeowners who have been putting off repairs should make them before the appraiser arrives. Homes with repairs that still need to be made will likely be valued less than similar homes with no such repair issues.

Homeowners unfamiliar with the appraisal process might not know if there is anything they can do to make the process go more smoothly. While certain variables involved in the appraisal process, such as location of the home and the value of surrounding homes, are beyond homeowners’ control, the Appraisal Institute recommends homeowners take the following steps before an appraiser visits their home.

• Clean the house. A dirty home that is full of clutter will not make the best impression on appraisers. Dirty homes

sectional sofa or modular seating may be ideal. Now that the kids are out of the house and their friends are no longer coming over for movie night, living rooms can be made more intimate with small-scale seating. A small sofa and two comfortable chairs may be a more fitting option. • At-home gym:

Save on gym membership fees by building a mini studio right at home. Choose one of the larger bedrooms and then fill it with some fitness equipment, such as an elliptical trainer, a bench press bench and some free weights. Store rolled-up mats in the closet for yoga or Pilates sessions. • Expanded bathroom:

If space has always been at a premium

in the bathroom, borrow area from an empty bedroom and turn it into a spa. Install a soaking tub separate from the shower, and fill the room with other amenities, such as a warming lamp or even a small sauna. • Home office:

Working from home a few days a week may be more plausible when nearing retirement, as it will be a smoother transition from heading to the office each day to spending more time at home. Turn a bedroom or den into an office space with a new desk and bookshelves.

An empty nest can be a bittersweet experience, but parents can make such situations work for them by transforming their homes to better reflect their needs.

Though repairs can be costly, investing in home repairs will likely increase both the appraisal and resale value of the home.

• Obtain all necessary documents before the appraiser arrives. Homeowners who have certain documentation at the ready can speed up the appraisal process. Such documentation may include a survey of the house and property; a deed or title report; a recent tax bill; if applicable, a list of items to be sold with the house; purchase history of the home; and the original plans and specifications of the

home. • Inform the appraiser about recent

improvements. Homeowners can inform appraisers about any recent improvements to the home and the cost of those improvements. The value of home improvements with regard to a home’s appraisal value vary depending on a host of variables, but having such information at the ready can help appraisers make the most informed appraisal possible.

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How building permits protect homeowners homeowners in various ways. Permits ensure safe workmanship

Permits provide a blueprint by which contractors and do-it-yourselfers must complete renovations. Because inspections will take place, there is no wiggle room. Shortcuts often translate into subpar work that may lead to malfunction and injury in the long run. Safeguarding against poor workmanship means homeowners can feel confident in the work being done. Permits reduce the likelihood of costly mistakes

As inspectors go through their checklists, they may notice things that were done incorrectly and will offer advice about how to mend the problem before it becomes a larger headache. If left unchecked, an electrical error could lead to a fire or another dangerous situation. Repairs that are not structurally sound may pose problems or deteriorate more quickly than structures that are constructed correctly. Furthermore, catching improper technique early on eliminates having to tear down and redo

You are thinking of making a major renovation to your home. Perhaps it’s time to create that master bedroom suite you long have admired or install that wrap-around porch? What is the first thing that should be done before getting down to business?

The correct way to begin a home remodeling project is to obtain the necessary permits for the job. Many municipalities request individuals obtain permits for a range of work on homes or other structures, such as office buildings. Permits are generally required for all new construction as well as specific modifications that will affect structural, plumbing, mechanical, and electrical systems. It’s important to check with the local building office prior to beginning work to see which permits you will need before the project can begin. Permits are necessary whether a homeowner is doing the work or hiring an outside contractor. Due to the cost and time involved with securing permits, some homeowners skip this step so they can begin a project promptly. However, this can end up being a costly mistake. Permits might seem like a nuisance, but they actually protect

work, which can be a costly and time- consuming endeavor. Permits protect against fines

Sometimes work goes as planned even for homeowners who did not obtain the necessary permits. However, years later, when other work needs to be done, inspectors may discover homeowners never secured proper permits and

inspections years earlier, leading to fines. Furthermore, if work is done without a permit and an accident occurs, any damages or injuries may not be covered by a homeowner’s insurance policy. Permits are an important part of the home improvement process. Homeowners should not skirt the responsibility because the permit and inspection process is in place to provide protection to occupants.

How to conserve energy throughout summer

temperature (68 F) on days when temperatures reach 90 F or above, that’s an enormous temperature gap that will result in a high energy bill. Instead, the DOE recommends setting thermostats to 78 F whenever possible.

• Open the windows at night. Daytime temperatures, particularly during the dog days of summer, may necessitate the use of air conditioners. But men and women who live in climates where temperatures drop considerably at night can sleep with their windows open. This reduces energy consumption and saves money, and can be a great way to introduce fresh air into a home during a time of year when air can become stagnant.

• Do not set air conditioner thermostats at lower than normal temperatures when turning them on. The DOE notes that setting thermostats at lower than normal temperatures when turning air conditioners on will not cool homes any faster than setting them at typical temperatures. Such a strategy will only lead to excessive energy consumption and higher energy bills.

• Install ceiling fans. Ceiling fans can improve cooling efficiency in a home. According to the DOE, ceiling fans allow men and women who use air conditioners to raise the thermostats on their AC units about 4 F without adversely affecting comfort levels. Men and women who live in temperate climates may find that ceiling fans are enough to keep rooms cool without the need for air conditioners.

Homeowners can combat high utility bills and excessive energy consumption during the summer with various eco- and budget-friendly strategies.

Energy bills tend to be high in summertime, when many people crank up their air conditioners in an attempt to combat the heat. For some households, higher energy bills might be stretching their budgets, while others might be looking for ways to reduce their carbon footprints.

Conserving energy can help homeowners save money and help the planet at the same time. And reducing energy consumption in the summer does not require men and women to sacrifice comfort in the name of conservation. In fact, various strategies can help homeowners and apartment dwellers reduce their summertime energy consumption.

• Stop cooling an empty home. A cool home might be the ultimate necessity during summer heat waves, but there’s no reason to cool a residence when no one is home. According to the U.S. Department of Energy, operating thermostats more efficiently can help homeowners trim their cooling costs by as much as 10 percent. One way to be more efficient with thermostats is to keep the house warmer than normal when no one is home. Programmable thermostats can be set so air conditioning units turn on shortly before residents arrive home, ensuring the house is comfortable and no energy is wasted.

• Narrow the gap between indoor and outdoor temperatures. The DOE notes that the smaller the difference between the temperature indoors and outside the lower cooling costs will be. While it may be tempting to set thermostats to room

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Tuesday, April 17, 2018...4-A NORFOLK DAILY NEWS, TUESDAY, APRIL 17, 2018 Simple ways to cut mortgage costs 20 percent of the sale price will have to pay private mortgage insurance,