Home Improvements That Really Do Pay Off

We all know updating your home can pay off in big ways—increasing resale value, making it more energy efficient and making it a better place to live. Here are 10 ways to instantly add value to your home and make it a buyer’s first choice.


Give your Kitchen Some Love

Kitchens are a big seller in every home and will continue to be.  Potential home buyers always make visiting the kitchen first a priority, so make sure when it comes time to sell yours is ready to go! A few hundred dollars can pay off big. So if you don’t have a huge budget focus first on updating your kitchen faucet, adding some new cabinet door handles and adding new lighting fixtures.

If you have more than a few hundred dollars? Focus on giving your cabinets a makeover. If you don’t have a huge budget, you can still redo your cabinets by hiring a refacing company or you can even re-paint them yourself. A fresh coat of paint can make an entire kitchen look brand new.

Another easy fix is replacing your backsplash. This can really update the entire look of a kitchen and you don’t have to always invest in tile either. You could use wooden beadboard, wallpaper, stainless steel sheets or chalkboard paint.


Update Your Appliances

This can be a little more expensive, but it doesn’t always have to be, making sure all your appliances match really goes a long way when selling your home. Often times some appliances like dishwashers or microwaves can have replacement panels ordered, which will save a lot. Also look for deals at your local appliance store, oftentimes they have a scratch and dent section. You will be able to get appliances for half the price of normal appliances.


Give Your Frontdoor a Facelift

First impressions matter, so make sure when those perspective buyers walkthrough your front door they want to buy the house. Invest in a new front door or paint your old one, it can dramatically change the look of your home and instantly enhance curb appeal. Adding potted plants, new exterior lights, new house numbers and a rug can instantly add charm to an otherwise uninspiring entrance.


Modernize Your Bathroom

Second to kitchens, bathrooms sell homes and fortunately improvements can be made without spending a lot of cash.  Simple and affordable fixes, like changing the toilet seat or adding a pedestal sink are easy for the most unhandy homeowner to tackle. Painting the bathroom can do wonders as well, often times this is one of the easiest rooms to paint because of its size.

If you like to DIY, and have a plain, frame-less mirror, try updating it with a frame or learn how to tile. Adding this architectural element will impress every buyer.


Give Your Light Fixtures a New Look

This is another easy update for the most novice homeowner to pull off! New kitchen and dining room lighting can instantly take at least a decade off a room and make it look larger. Also adding a dinner switch to your current lighting, will help set the mood for those open houses.


Don’t Forget Floors

Make sure to look down! Carpeting is another detail that can either date a home or bring it into this century. Getting your carpets professionally cleaned is an inexpensive investment and can make a huge difference, especially if your carpets aren’t too bad in the first place.

If your carpet has some serious wear and tear or is from the 1970’s, consider adding an area rug.


Keep Your Curb Appear High

Make sure that your lawn and garden is looking like it belongs in Home and Garden Magazine. This isn’t an expensive investment and can really impress homebuyers. Making sure your lawn is mowed and there aren’t any patches of missing grass is a great place to start. Re-mulching garden beds is another easy investment that doesn’t take a green thumb and can make the house look brand new. What buyers see when they first drive buy, really does make a difference. Put away all garbage cans, plant some season flowers and trim any branches. If you have a patio set on a deck, buy new pillows to give it a fresh update.

source: smarterlifestyles.com

Great News for Homebuyers in 2019: Loan Limits Increase

Thinking about buying a home in the next year? You’re in luck.

The Federal Housing Finance Agency (FHFA) announced yesterday that for the third straight year they will increase the limits for mortgages backed by agencies that cover the vast majority of the home loans issued in the U.S. In 2019 they will increase the limit 6.9 percent, taking the limit from $453,100 to $484,350.

What does this mean for you as a homebuyer? It may allow you up to $30,000 more on an affordable loan option, particularly if you are looking to buy in a market with rising home prices.

This increase in loan limits is designed to help homebuyers keep pace with a more expensive market. Even as home prices rise, you can afford to buy a more expensive home with an agency conforming loan.

“These higher loan limits create more borrowing opportunities – whether you’re a potential homebuyer or a homeowner seeking to refinance,” says A. Wade Douroux, President and CEO of Resource Financial Services. “This gives homebuyers access to higher amounts through conventional lending – which is also good news for sellers this year.”

The knowledgeable mortgage bankers at Resource Financial Services can help you figure out if the new conforming loan limits apply to you. They can answer all your questions and have a wide range of programs that may benefit you.

“Get in touch with us soon to discuss how these loan limits can help you with a home purchase or refinance,” says Douroux.

Resource Financial Services exists to make people’s dreams of home ownership a reality. The mortgage lender offers experienced mortgage specialists who work hard to educate homebuyers about the wide variety of loan programs that can be tailored to meet individual financial needs. Homebuyers can expect quicker closings, same-day pre-approval, 5-Day Processing and guaranteed lower rates.

Call toll-free at 877.797.4545to speak with a mortgage banker or visit Resource Financial Services online at rfsmortgage.com to learn more.

source: resourcefinancialservices.com

More Millennials Are Buying Homes

In the second quarter of 2018, Millennials began buying homes in a big way. Despite the commonly-cited hurdles that include student debt, irregular and gig income and the high cost of living, today’s Millennials are finding their way to home ownership.

A report from the US Census Bureau shows that home ownership rates among people aged 35 and under jumped 3.4% between April and June of this year. The Ellie Mae Millennial Tracker shows the average age of millennial borrowers is 29.

What’s driving Millennials into the market? A larger percentage of them are reaching the point in their lives where it’s appropriate to buy a home. They are settling down, getting married and having families.

“Most Millennials are buying a house because there are major changes happening in their lives such as starting a family, getting a new job, or because they’ve decided that they want to build equity and stop renting,” said Ellie Mae Executive Vice President of Corporate Strategy Joe Tyrrell.

Resource Financial Services is here to help Millennials on the road to home ownership. We understand that buying your first home can be a little intimidating. And no matter how many times you ask for advice from parents, family members and friends who are experienced homebuyers, there will still be questions.

That’s why we believe meeting with one of our reputable and experienced mortgage bankers should be your first step. With our guidance and knowledge, you can find a home you can truly afford with a mortgage that works for your budget.

Five Simple Steps to Home Ownership:

One: Make the call. Pick up the phone and call a mortgage banker at Resource Financial Services for step-by-step guidance on the home-buying process. There is no charge for a phone call that can make all the difference in helping you understand your options and what you may be able to afford.

Two: Get pre-approved. Before looking at the first house, your mortgage banker can pre-approve you for a loan and explain the customary closing costs and financing fees. This will give you an accurate picture of how much home you can truly afford and help you narrow down homes based on that amount.

Three: Begin the house hunt. Your pre-approval will help you sort by price, identify neighborhoods and find your dream home faster. It will also give you an edge when you make an offer in a competitive seller’s market.

Four: Make the offer. Your real estate agent (and we highly recommend working with one) has extensive knowledge and experience on comparable home transactions and can offer the best strategy for the home you’re interested in. Your purchase agreement will note how much you’re willing to put down as a down payment. By the way it’s a myth that you need 20% as a down payment; the average down payment is only 10% and for first time homebuyers it’s even lower at 6%. Arrange to have the deposit held in escrow (not with the seller) so your money can be returned to you if the offer falls through.

Five: Close. Once an offer is accepted by both parties and signed, it becomes a binding contract. Your Resource Financial Services mortgage banker will help you understand the process and go over any documents you need to provide as well as any closing costs you owe so there are no surprises at closing.

Working closely with a reputable lender that offers competitive rates, a variety of products and the education is the best way to eliminate surprises and help you create a clear path to homeownership.

Resource Financial Services is here to make people’s dreams of home ownership a reality. That’s why our experienced mortgage specialists work hard to educate homebuyers about the wide variety of loan programs that can be tailored to meet individual financial needs. We offer quicker closings, same-day pre-approval and guaranteed lower rates.

source: resourcefinancialservices.com

Hard-hit Vallejo, Calif. property market now on an upswing

VALLEJO, California — The housing market in this city with a large Filipino American community is on the upswing, a sharp contrast to the market’s slide in 2008.

There are more buyers than available homes. Demand exceeds supply. So prices are increasing – considerably. Prices are currently 28 percent higher than this time last year. But buyers are still willing to buy.

Rod Nubla, a Filipino-American realtor, explains: “Buyers are offering to pay more than the asking price, and that drives prices up. If a house goes on the market on a Friday, there are eighteen offers by Monday.”

This is a complete turn-around for the Vallejo housing market, which went into decline three times in succession: when the Naval Shipyard closed in 1996; when the recession hit; and when the City declared bankruptcy in 2008.

The bankruptcy led to a brief upswing in the housing market, because it caused house prices to plummet, and the new very low prices attracted people to move to Vallejo from San Francisco, Oakland and Berkeley.

But the market soon went back into decline -– until late 2012, when demand and prices began their continuing increase.

Nubla explains the reasons for the new increase in demand: “One factor is that ‘wealthy millennials’ are driving up prices in San Francisco and other nearby communities, and this is forcing other people to look further afield for more affordable homes.”

He added, “There are also people who grew up in Vallejo, or have other connections here, and so want to settle here.”

An additional very important factor is the new low lending rates, which are benefiting the housing market just as much in Vallejo as in other cities.

Nubla gives the reasons for the decrease in available homes in Vallejo (which also pushes up the demand): “A lot of homes were foreclosed in recent years, and people bought them all up at discount prices, creating a scarcity. Investors have been buying up homes, leaving fewer available for individuals who want homes to live in. Right now there are 107 homes for sale in Vallejo. That is not many considering the size of the population (120,000). That scarcity is pushing up prices.”

Vallejo’s well-known problems with crime and school performance are apparently not deterring homebuyers.

Nubla says that “buyers realize that high crime is in certain pockets of the city, and they steer away from those areas, choosing the neighborhoods with better reputations.”

There is a particular downside to the price-increases and home scarcity for people who are economically less advantaged. Filipino-American Vallejo City Council Member Jess Malgapo, sees one of the results of this situation from another angle.

Malgapo, who is on the City’s Housing Committee, reports that their 2,600 “housing vouchers” for subsidized rental properties (formerly known as ‘Section 8’) are “maxed-out…we have a waiting list in the thousands.”

How do Filipino-Americans fit into the picture? Nubla says that some Fil-Ams have had an especially hard time with foreclosures in recent years. “Filipinos tend to be investors, and some have bought multiple homes as investments. When the recession hit, each had to foreclose several homes.”

But the current upswing in Vallejo’s housing market should impact Filipino-Americans in the same way that it does all citizens, whether buying or selling.

source: business.inquirer.net

Applying feng shui principles when buying a house

Welcome 2014! If this is your year to buy a house or any property, consider applying feng shui to the purchasing process. It may help channel good energy into the financial investment.

Auspicious feng shui means excellent energy that brings not only harmony into a home but also good health, happiness and prosperity to its occupants. To assure the right choice of property, certain elements need to be studied before the purchase. The location, neighborhood and lot placement are the critical points to consider.


In feng shui, the real estate notion of location takes a deeper meaning as it deals with the quality of the energy entering a home. To have the optimum chi enter the property, the surroundings should be a “clean” street, free from pointed structures or sloping land behind the house.

In general, a homeowner wants his house to have breathing room with a backyard that is slightly larger than the front yard. Ideally, the property will look better with a good backing like a mountain behind facing a river or stream.

Very important

The front door is very important in feng shui as this is how the house or building will receive its chi or energy nourishment. In analyzing the floor plan, the other elements to position are the kitchen, bedrooms and bathrooms.

After reviewing the challenging feng shui areas for 2014, here are some tips to harness the potential of yearly flying star energies and use it for best feng shui in your home or office. I got a lot of interesting tips from www.about.com on home feng shui articles.


As a general advice, be sure to have the feng shui areas with the yearly 2014 beneficial stars brightly lit, and with fresh yang (active) energy. Clear the clutter in your space on or before Jan. 15 to allow new energy to enter.





Please note that in order to apply the annual feng shui updates you have to know the bagua of your home. In 2014, the Chinese New Year (Lunar New Year) starts on Jan. 31. It is the feng shui year of the Wood Horse. The feng shui cures should be in place by Feb.  4.

The South sector area is one of the luckiest feng shui sectors in 2014 with the annual star 8, the Wealth feng shui star. Fire feng shui element colors, such as red, pink, purple, orange and bright yellow, are all good in the South feng shui area of your home or office because they support the Earth element of Star 8.

Enhance wealth energy

Of course, these colors are inherently good for South bagua area with its governing element of Fire, so if you have your home or office decor based on feng shui bagua requirements, there is not much change you have to bring, color-wise, to this bagua area. Because this is the location of the annual Wealth star, you can also use specific crystals and stones to enhance the wealth energy, especially amethyst, citrine and pyrite.

The fortunate purple 9 star in 2014 is on the North sector. It is a Fire feng shui element annual star. Be sure not to put down the Fire element of this star with Water feng shui element items, such as the colors black and blue, big mirrors, actual water features or images of water in the North area. This can be a bit tricky as the main feng shui element of North is Water, so one must be mindful about creating a good balance of elements.

It is also good to avoid a strong presence of the Earth feng shui element here as Earth weakens Fire in the five feng shui elements interaction. Good vibe items like candles, fresh flowers and happy images would strengthen the happy potential of this auspicious area. Work with the number 9 to multiply the benefits. For example, you can have an arrangement of 9 red or purple candles, or an image of 9 pink flowers.

Nine Chinese coins are also welcome here in 2014, as well as various designs with the very auspicious mystic knot. Another traditional Chinese feng shui cure—the crystal tree (in fire color crystals such as amethyst or citrine)—can go well here.

In 2014, the North area is also hosting a challenging energy (traditional feng shui name: Three Killings) so salt water is the feng shui cure for this area. For more details on how to enhance the good chi for this year, check out the website of Marites Allen (www.maritesallen.com) for cures and enhancements.

Marites gave her feng shui forecast for 2014 last month and informed the crowd that the luckiest animal sign for the year is the Sheep. For those not too lucky this year, there is feng shui and hard work.

source: business.inquirer.net