It’s often noted that there are benefits to closing on a home you’re buying at the end of the month. Are there any advantages to closing at the beginning or middle of the month? What’s the difference? If I’m buying a home for a certain price, why should it matter when I close? If you’re obtaining a mortgage, the day you close will determine how much money you need to bring to closing. It won’t, however, change the monthly date your payments will be due. Let’s say your due date is the 1st of each month. Then you won’t have a mortgage payment due until the first of the second month after you close. So now let’s break down “best day to close” theory.
Because mortgages are paid in arrears (for the month passed), the date you close will determine how much money you have to bring to closing as you’ll be paying the interest needed to cover the remainder of the current month.
If you close on May 6th, you will need to bring enough money to closing to cover 25 days of interest for that month (31 days in May – closing on May 6 or 31-6 = 25 days of interest due).
If you close on May 28th, you will only need to bring enough money to closing to cover 3 days of interest for that month (31-28 = 3).
With either option, because you’re closing in May, you won’t have a mortgage payment due until July 1st. So, if you’re already stretching yourself to have enough funds for your down payment at closing, setting your date at the end of the month will reduce the amount f cash you’ll have to bring. Closing at the beginning or middle of the month will require you to bring more cash to closing but you will have more time in the home before your first mortgage payment is due. This might be helpful if you need to get kids registered for school or start your new job, etc.
Type Rate Yield
30 Yr Fixed 4.12% 4.25%
15 Yr Fixed 3.56% 3.78%
1 Yr Fixed 3.9 % 5.15%
Jumbo 30 Yr Fixed 4.30% 4.42%
30 Yr FHA 3.78% 3.85%
5/1 ARM 4.05% 7.12%
5/1 Jumbo ARM 3.77% 6.85%
Data Provided by BANKRATE.COM
I was excited to receive my newest issue of Better Homes and Gardens magazine and see what great ideas and visions I could glean from their pages. Haven’t we all done this? Whether it’s BH&G, HGTV, Home Decorating or another of the numerous magazine and ezine options that share decorating ideas, we open them and assume they know and offer so much better ideas than anything we can come up with ourselves.
BUT, I am not exaggerating when I say I went through the entire current magazine and did not find one design, color scheme or decorating idea that held any appeal for me at all. That caused me to realize that sometimes I simply should follow my own instincts or try out my own ideas instead of allowing myself to be overly influenced by others as to what works best for me. I decided I should trust my own gut and not talk myself out of an idea simply because it doesn’t match what the current magazines/ezines are showing. Kind of like watching a fashion show and thinking “Do people really wear this stuff?”. Should your home “wear” those ideas? Do they fit your personality, family life or desired ambiance? Think about that before you give up on your own idea in lieu of some celebrity’s.
Now, that said, I will continue to review online and magazine ideas and probably like and try many of them in my own home. I’m not saying they don’t have and offer you value. What I am saying is, don’t assume they reveal what’s best for you or dictate how you should decorate your home. You want to create a space that, as soon as you open the door to enter says, “Welcome HOME”!
Did you know eliminating clutter from your home is one of the most cost-efficient, effective ways to improve its perceived value to buyers? In exchange for your effort, your home will seem larger, filled with potential, and much more desirable to viewers. Another benefit is how much less stressed you will feel every time you walk in or open your closet and see order instead of chaos! Think de-cluttering your home is too daunting a task? Try choosing just one thing and focusing on it.
Small steps are better than no steps at all.
OVERLOAD OF CLOTHES: There is probably a huge chunk of apparel in your closet that isn’t being used. Get rid of it. Only keep the items that you wear. Simplify your closet, and you’ll simplify a part of your home.
WHERE TO BEGIN: You have two options, depending on your schedule:
Test in an afternoon or weekend: Take everything out of your closet, try each item on and determine what items you still like/wear. Anything that needs to be mended, mend; anything that you don’t want, give away. Only keep what fits you and looks good on you.
Test over time: If you lack a big chunk of time to de-clutter, try this instead. Move your entire wardrobe to another closet and pull just what you need out of it every morning. After you’ve worn something, move it into your regular closet. Continue this for a few weeks/months, and you’ll know what items are being worn consistently.
SOME THINGS TO REMEMBER:
Think Seasonally: If there are clothes you wear, but not in the current season, put them into storage. You won’t be wearing them out-of-season, so putting them away frees up closet space and makes your closet appear much more inviting to your buyer.
Think Objectively: If you’re hanging on to an item for purely sentimental reasons with no intention of ever wearing it again, take a picture and move on. If you really, really can’t part with it, add it to a keepsake/memories box. Don’t keep it in the closet.
Think Practically: It’s a good idea to get rid of wire hangers, if at all possible. They get tangled and broken and contribute to a messy look. Donate them to your local Salvation Army or shelter and invest in matching plastic, wooden or popular thin felt covered hangers you can find at Walmart or Target. Low cost. High end look.
Think Purposefully: Try to make a commitment to yourself to only use your closet for wardrobe items. It’s not the place for your computer, old books or photo boxes. By relegating your closet’s use to its intended one, you not only de-clutter, you de-stress!
Cleaning out your closet may feel like a lot of work, but consider all the benefits:
Ever wish you had more room to put your cleaning supplies, extra bags, etc? Look no further than the back of your linen closet or laundry closet door. Purchase an inexpensive over the door plastic shoe bag and start filling it up. Not only does everything stay neater, they are more easily accessible when you need them and can be completely hidden away by simply closing the door. Storage doesn’t have to be expensive, free standing or shelving units. Be creative and re-purpose items to fit your needs.
The ground hog said it will be an early spring. If you live in the midwest or northeast, you probably, by now, know he was lying. BUT pretty soon it will be spring so let’s review a quick checklist to consider so you can be ready to go as the first buds appear!
It may be too early to do all these items, but make a list, add other items that you see necessary for your particular home and as soon as weather allows, get to work, get it done and then enjoy the fruits of your labor by getting the best price possible for your home!
We’ve all seen them. Flyers in a box attached to a seller’s sign. So, of course, you decide you’ll do that too. The box is empty so now you’re waiting for all those calls to come in. But, as much as you’d like to believe it, the box being empty does not mean there are a lot of interested buyers fighting over your home. It more often means that a few potential buyers have grabbed a flyer while the rest most likely went to nosy neighbors who just want to see how much you’re asking and realtors who want you to list your home with them. That does not mean flyers are not effective. The key is to use them most effectively! Here are some proven methods of operation.
These are some proven methods to get results from flyers. Use your own imagination to think up some more. If you’re going to take advantage of flyers, make a point of doing so in the most effective ways possible. Good Selling!
It’s a strange phenomenon, but history shows in many markets that having an Open House on Super Bowl Sunday can be very productive.
KEY: Be friendly, relaxed and allow people to take their time viewing your home, asking questions, enjoying your snacks and ‘feeling’ the positive party energy your home offers!
You’ve prepared and planned. You’ve organized and simplified. Now it’s time for the big day: you’re moving. Keep these tips in mind to make your day run as smoothly as possible. Key: Don’t have unrealistic expectations and think that you’ll have a totally stress free day. You might in which case you can celebrate your excellent planning, preparation and execution. If not, then you won’t explode, implode or scream at those you love (or the ones you don’t, ie: movers) causing the day to deteriorate for everyone involved. Be smart. Be prepared. Be efficient. Be flexible!!!! Things rarely happen exactly as we plan.
MOVING ON YOUR OWN