Thinking of getting a pet in the new year? Here are three things to consider when budgeting for a pet.
1. Routine Vet Care
2. Emergency Care
3. Optional Costs
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A home inspection is simply a visual examination of a house's overall condition. The home inspection report describes a house's physical shape and identifies what might need crucial repair or replacement. Although what's covered in a standard report can vary by inspector, typically the status of the following will be included:
A home inspection is not an appraisal, which determines market value, and it's not a municipal inspection, which verifies local code compliance. Inspectors won't survey inaccessible areas of home; they don't do any kind of destructive testing — only non-invasive visual assessments. The report won't include the condition of every nail, wire or pipe in the home. The report also does not guarantee a home's components will never fail or need repair in the future.
So, what are the deal breakers of a home inspection? That depends entirely on you. What is and is not a deal breaker depends on each person's preferences and needs. For example, an inspection that identifies damaged floor joists might be a deciding factor for one person who feels the problem is too expensive or time-consuming to fix.
However, the same trouble with joists might be absolutely acceptable for another client who has resources to fix the issue. A home inspector does not tell a customer whether or not to buy a house. Rather, it's his or her job to provide all the available information so home buyers (or sellers) can make the decision that's right for them.
If you're thinking of buying a house and a home inspector finds problems with it, this doesn't automatically mean you shouldn't buy it. The findings simply mean you now know what you're getting into. If the plumbing needs to be replaced in six months, at least you won't be surprised when it happens. If major problems like this are found, the seller may agree to make the repairs. Of course, no house is perfect. It's quite normal for a residence to have some glitches. It just depends on how many faults you're willing to deal with before you walk away from the sale.
Home inspections differ based on the person or organization conducting them. The American Society of Home Inspectors (ASHI), for example, is not required to check for wood-destroying organisms or diseases harmful to humans, including mold or moldlike substances. Many inspectors offer services to check for these things, although some will charge an additional fee.
Besides having the right things covered in an inspection, you should also make sure you hire the right person for the job. Unfortunately, there's no surefire way to vet an inspector's complete history. However, there are a number of steps you can take to make an informed decision.
Consult your real estate attorney or ask friends, business acquaintances or professionals who understand the housing industry for a recommendation. If you already have someone in mind, ask the inspector for professional references and call the people on this list with specific questions about the inspector and the services provided. Before you hire someone, make sure you're comfortable with him or her first. Have a conversation ahead of time and review sample reports to make sure you can understand them.
Besides checking with ASHI, there are other reputable resources such as the National Association of Home Inspectors (NAHI) and the National Association of Certified Home Inspectors (NACHI).
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According to a recent study by the Society for Human Resource Management, some 83% of HR professionals think personal financial challenges have at least some impact on employees' performance. Those same HR professionals aren't blind to economic reality — 80% of them believe employees at their organizations are facing more financial challenges than they were five years ago.
Though the consequences are unpleasant, the logic is fairly straightforward: If someone can't maintain control of their own financial situation when their personal money is on the line, what would make them motivated to be a better steward of the company's money belonging to nameless and faceless shareholders?
That said, at most companies, having personal money troubles are not a fire-able offense. But if your performance is slipping, the odds are slim that your boss will pick you for the next available role of increasing responsibility. If the company also has reason to believe money troubles are behind your performance slippage, you can expect significantly tighter scrutiny on whatever areas you do have any individual discretion over.
Is it fair to have career troubles just because you're having money troubles at home? Probably not, but speaking frankly, whether it's "fair" or not doesn't really matter. It is what it is.
If you are having money troubles, the first step toward regaining control is to stop trying to put on flashy displays of wealth you don't really have. You're neither fooling nor impressing anybody by showcasing your spending, and your employer already knows what you make. Spending money faster than your boss knows you're earning it is a major red flag and can actually invite more scrutiny, not less.
Even in less instantly obvious ways, taking control of your finances is largely a matter of understanding — and making tough choices — on how and where you spend your cash. Brown-bagging your lunch can easily save you between $20 and $40 a week versus eating out, and home-brewed coffee instead of a couple daily cups from the coffee shop can have a similar impact.
No matter how you choose to cut back, doing so will help you take control of your finances. And with control over your finances, you'll gain the opportunity to stop the career death spiral that otherwise threatens to turn some short-term cash flow issues into a serious long-term problem.
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According to the closely watched S&P/Case-Shiller composite index, U.S. single-family home prices fell more than expected in November, highlighting the continuing struggle of the housing market to make a meaningful recovery.
Like most measures of the economy, the S&P/Case-Shiller home price index is not perfect. However, it has a critical shortcoming that almost no one talks about.
We already know the data comes in on a bit of a lag. The data doesn't hit the database until the public filing after closing. But the closing may be months after the agreement between buyer and seller (and the banks that provide financing). Ultimately, the lag can be a long time (sometimes up to six months) between when a price is agreed upon, the mortgage is secured, the closing occurs, and the sale is recorded and available for public use.
The Case-Shiller index is based on closings. However, four to eight weeks from contract to closing is major lag. November home price data reflects September or October prices at contract, which is the more relevant measure for a home buyer or seller. In other words, it would be inaccurate for users of the Case-Shiller data to assume the monthly index data reflects monthly market prices without some additional lag.
Furthermore, the time from contract to closing may vary depending on the city, which would make the Case-Shiller indices even more problematic. Those using such data as the Case-Shiller index data need to be aware of exactly what the data is really saying.
Homeowners need to be proactive in making energy-efficient home renovations. Here is a list of easy check-ups every homeowner can do to optimize the energy efficiency of their home:
Windows and Doors
Holes in windows and doors allow conditioned air to leak from your home and allow outdoor air to infiltrate, which can tax your heating and cooling systems and raise your energy bills. Caulk around windows and doors where there are gaps. Also caulk areas where plumbing lines or electrical wiring extend to the exterior of the home.
Floor and Wall Insulation
Insulation acts as a barrier to heat movement and helps keep any home cooler in the summer and warmer in the winter—all while using less energy. Making sure insulation is used at potential gaps such as around an attic stairway or over the attic access door is important as well.
Shedding a Little Light on a Simple Solution
By replacing traditional incandescent light bulbs with compact fluorescents, you can use up to 75% less energy on lighting alone. A wide assortment of CFLs is now available for almost any type fixture found in a home.
Appliances and HVAC Systems
Your major household appliances are a good place to focus on to make your home more eco-friendly. Start by changing the filters of your HVAC systems regularly and consider upgrading older appliances to take advantage of newer, more efficient designs.
Buy a Programmable Thermostat
This energy-saving step can have a positive and noticeable impact right away. Programmable thermostats are fairly easy to install and once they are set up a homeowner can adjust them as the weather changes. For every degree that a thermostat is set back, you may realize a savings between 1-3% on your heating or cooling bills.
Selling a Santa Clara County home that is currently occupied by a tenant can be a bit of a challenge, as the tenants don't always share the same motivation as their landlords – consequently, they may fail to keep the home looking neat and attractive to impress potential buyers.
So what can landlords do to prevent problems?
First, landlords should never attempt to deceive tenants in the first place, and so they should make it absolutely clear that they intend to list the home once the local market picks up again.
Landlords can also offer their tenants some kind of concession in return for their cooperation – for example, in return for the tenant keeping the home looking neat tidy (unlike the photo!) while it's listed, they could be given a 10% discount on the rent. However, landlords would need to clearly communicate their expectations regarding cleanliness, like making sure the bed is always made up in the morning, and ensuring dirty dishes aren't left in the sink for prospective buyers to see when they come to see the property.
Setting established hours for buyers to view the property will also do a lot to get tenants on your side.
Landlords need to keep in mind they don't usually get a second chance, and so it pays to keep tenants on their side, especially when a property is first listed for sale.
If you're a Santa Clara County landlord and would like more information and tips on what you should do if your property has a tenant and you're wanting to sell, contact us. We'll be happy to give you additional tips.
When buying a home, there are a lot of things to look at to ensure you make the right decision. It is a significant investment on your part as a buyer, so one of the things you need to be aware of is the cost involved in buying the home.
You'll need to consider the down payment. While just a fraction of the selling price, it will still be a significant amount. Your lender will set the down payment they require, depending on the type of loan you're seeking.
If you're financing more than 80 percent of the value of the property, you may need to pay for private mortgage insurance. This is required by lenders as a form of protecting the property. If you do not want this extra cost, you can opt to put down a higher down payment which is usually 20 percent of the selling price to avoid PMI. Aside from saving money on private mortgage insurance, you can also request a better interest rate if you put down more cash up front.
You'll also need to consider loan fees. This is labeled by different names by different lenders but it will usually be a form of payment for the processing of your loan. Be prepared for this as it will always be a part of what you will be paying once you take out a loan with a lender like a bank or any financial institution.
The lender may also require you to have the property inspected before you buy it. Of course, you would need to pay the person or firm that would do the inspection. You should also add other things like the money you would use when going around looking for a property or visiting your real estate agent.
Setting your budget is one of the first things you need to do when buying a house, so use these tips as a guideline for getting started.
