4 Easy Ways To Protect Your Pipes In The Winter.

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  1. Disconnect and drain all garden hoses.
  2. Insulate exterior pipes and faucets with newspaper, rags, or insulating material, then cover with plastic and secure with string or wire. You can also use electric heat tape.
  3. Insulate interior pipes and faucets located in cold areas of your home (including unheated attics, basements, garages, and crawl spaces) the same way as step 2.
  4. Locate your home’s main water shut off valve and test it prior to an emergency, so you can stop excessive water loss and flooding if a pipe breaks. Use a wrench to turn it firmly but gently in a clockwise direction.

Alternatively, you can turn ff your water at the meter box b y using a #wter meter valve key” tool available at most hardware stores for about $15.

Locating Your Main Water Shut Off Valve

This valve is either round or shaped like a lever. It’s usually located in your basement, crawlspace, garage, or outdoor foundation, often near the front faucet.

Additional Safety Measures

  • If you have a yard sprinkler system, drain and blow out the system completely.
  • On extra cold nights, open the doors of closets or cabinets that are located near water pipes on our home’s exterior walls.
  • If you don’t mind a slightly higher utility bill, let one indoor faucet slowly drip warm water overnight during spells of below- freezing temperatures. Just don’t do this in a house that will be vacant for an extended time.
  • For maximum protection, apply caulk around incoming pipes, and close or block your home’s foundation vents during the coldest months (open them up once the threat of freezing has passed to prevent dry rot).

If you have a second home or cabin that is left unoccupied for several days or longer.

  • Turn off the main water shut-ff valve.
  • Turn off the electricity or gas to the water heater. If the house is going to be vacant for an extended length of time, the water heater should also be drained.
  • Open and drain indoor and outdoor faucets.
  • After the water is turned off, flush the toilet once to drain the tank but not the bowl.
  • Leave the heat on at a minimum temperature to help keep pipes from freezing in the walls.

How to Thaw a Frozen Pipe

If you turn on a faucet and only a little trickle (or no water) comes out, your pipe is probably frozen.

Locate the suspected frozen area of the pipe-usually where pipes are up against exterior walls, or where your water service enters your home through the foundation.

Turn the faucet closest to the suspected frozen area. This will allow water to flow through the pipe once the frozen area begins to melt, which will help more ice melt inside the pipe.

SLOWLY try to thaw the frozen section of pope. Soak some old rags in hot water and wrap them around the pipe. When wet rags cool, re-soak them in hot water and continue to apply until water begins to flow again.

If you have not lost electrical power AND there is NO standing water near the area, you can wrap an electric heating pad around the pipe, set to LOW, or use a hair dryer to thaw frozen pipes.

DO NOT use electric devices such as heating pads or blow dryers if there’s ANY standing water anywhere nearby.

DO NOT use an open flame such as a blowtorch, kerosene or propane heater, charcoal stove, candle, or cigarette lighter as this can cause the water in the frozen pipe to boil and explode the pipe. Open flames also present a serious fire danger as well as exposure to lethal carbon monoxide.

If a pipe breaks IMMEDIATELY turn off the main water valve to minimize flooding and damage. If you are unable to turn off your water, call your water company for help. They are very busy during freezing emergencies, so they may not be able to respond in time to prevent flooding damage. This is why it’s critical that you know the location of your main water shut off valve and how to turn it off. It’s also important to keep your water meter unobstructed for easy access. Remember, you are responsible for protecting and repairing the water pipes. Starting from the water meter, all the way into your home.

An ounce of prevention goes along way! Its is suppose to be extremely cold next week so please make sure you and your home is safe.

🏡✨ Your Puget Sound Home Deserves the Best! Annual Maintenance Checklist Inside. 🛠️🌲

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As the beauty of the Puget Sound region unfolds around us, it’s the perfect time to ensure your home remains a sanctuary of comfort and style. 🏡✨ Our team understands the unique needs of Puget Sound homes, and we’ve curated an essential annual maintenance checklist just for you. 🛠️🌲 From the roof overhead to the roots in the ground, let’s embark on a journey of home care that keeps your investment in prime condition. Your home deserves the very best, and we’re here to guide you through every step. 🌟 If you have any questions or need local service recommendations, don’t hesitate to reach out. Your Puget Sound home is a gem, and together, let’s ensure it continues to shine bright!

Peanut Butter And Jelly Home Approval?

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Getting preapproved before you start looking at homes is crucial for several reasons:

  1. Understanding Your Budget:
    Preapproval helps you establish a clear budget range. By knowing how much a lender is willing to lend you, you can focus your home search on properties that align with your financial capacity.
  2. Saves Time:
    It streamlines the home-buying process. You won’t waste time considering homes that are beyond your financial reach. This efficiency is particularly valuable in a competitive real estate market.
  3. Negotiation Power:
    Sellers often prefer dealing with preapproved buyers because it indicates that you are a serious and qualified buyer. This can give you an edge in negotiations and make your offer more appealing.
  4. Avoiding Disappointment:
    Knowing your budget prevents the heartbreak of falling in love with a home only to find out later that it’s out of your financial reach. Preapproval sets realistic expectations.
  5. Quick Response to Opportunities:
    In a fast-paced market, having a preapproval letter allows you to act quickly when you find the right home. This can be a significant advantage, especially if there are multiple offers on a property.
  6. Identifying Credit Issues:
    The preapproval process involves a thorough examination of your credit history. If there are any issues, it gives you time to address them before making an offer on a home.
  7. Clarifying Loan Options:
    Preapproval provides insights into different loan options available to you. You can choose the type of loan that best suits your needs and financial situation.
  8. Building Trust with Real Estate Professionals:
    Real estate agents and sellers take preapproved buyers more seriously. It establishes you as a committed buyer, making the entire home-buying process smoother.
  9. Smooth Closing Process:
    Having your financing in order from the beginning helps ensure a smoother and quicker closing process. Delays related to financing issues can be minimized or avoided.

In summary, getting preapproved is a strategic step that not only gives you a clear financial picture but also positions you as a serious buyer in the real estate market. It enhances your ability to make informed decisions and increases your chances of securing the home you desire. If you are in the Puget Sound region reach out to me and I will guide you to the best lender associates based on you needs and we will work together to get you the perfect home that goes together beautfully. Just like peanut butter and jelly!

Fast-track Your Mortgage Payoff, Lower Your Retirement Debt

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When retirement looms, financial stability is a gnawing concern for most people. Have I saved enough? What will inflation do to my nest egg? Will Social Security remain solvent? What are the health wildcards I haven’t planned for? As such, it’s wise to slash expenses and debt as much as possible, with the idea of entering retirement debt-free. For some, that means paying off the mortgage by accelerating their mortgage payoff.

Experian (https://bit.ly/3srAgU7) found that the average mortgage balance debt by generation in 2022 was:
Generation X (age 42-57): $274,406| Baby Boomers (58-76): $189,155 | Silent Generation (77+): $139,999

If you’re able to afford to put extra cash toward your mortgage, doing an early payoff can be a powerful strategy that not only cuts interest payments but lightens the financial and emotional load during retirement, bringing peace of mind, more money for hobbies, vacations, and funds for healthcare and long-term care expenses.

Still, before deciding, you must take a complete look at your financial picture to be sure that a faster payoff is the best way to achieve your goals and to understand the potential sacrifices and downsides of such a move.

Here are nine considerations.

1. Understand the risks. If you have a relatively low mortgage rate, could you miss out on higher returns on your money by putting the extra toward your mortgage? Will you miss out on mortgage interest deductions? By devoting money to your mortgage, you’re lowering your liquidity. Will that lack of liquidity adversely affect your other long-term goals or short-term needs? For example, are you hoping to give a chunk of money to help a child with a down payment or planning to pay some of your grandchild’s college costs?

2. Examine your debts. If you have credit cards, personal loans, and other obligations, paying those off is better before accelerating your mortgage payments. First, pay off debts with higher interest rates than your current mortgage because consumer debt typically carries higher interest rates than mortgages. 

3. Understand your mortgage agreement. Read your agreement’s fine print and talk to your lender to be sure there aren’t prepayment penalties and that you’re allowed to make extra payments.

4. Calculate your savings. How quickly do you want to pay off your mortgage? Can you afford to shave five years or ten years off your mortgage? Use an online mortgage calculator to see how much principal you must pay every month or year to pay off a loan in a certain number of years and how much you’ll save with an early payoff. The savings can be significant. According to a NerdWallet calculator (https://bit.ly/45MhzZR), for example, if you took out a $300,000 30-year fixed loan at 5.5%, have ten years left, and decide to pay it off in five years, you’d have to pay an extra $206.75 monthly. The move would save $89,796.84 over the life of the loan. 

5. Develop your repayment plan. Will you make an annual lump-sum payment or extra payments monthly or bi-weekly? One advantage of spreading the additional payments across the year and making bi-weekly payments is that you lower your principal balance each month, creating a smaller balance on which interest is calculated. 

6. Look at your budget. How much extra money can you afford to put toward your mortgage? Where can you cut back? Also, consider the sacrifices you’ll need to make and decide if missing out on a vacation or cutting back on hobbies is worth it.

7. Don’t sacrifice retirement savings. Have an adequate emergency fund before shifting money to speed up your mortgage payoff. Also, be sure you’ll still be able to max out all your retirement vehicles like 401ks, Roth IRAs, and Health Savings Accounts and make catch-up contributions.  

8. Pay the right way. Be sure to tell your mortgage holder that your extra payments will be applied to the loan principal, not the next month’s mortgage payment.

9. Talk to experts. Remember that there’s no one-size-fits-all approach with finances, so get advice from financial pros—your accountant and financial planner, for example—to understand the risks and the impact an early mortgage payoff would have on your other goals.

October~ Home Connection

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Autumn Adventures Await!

As the leaves start to turn brilliant shades of red and gold, and a crispness fills the air, it’s clear that autumn has arrived! Welcome to October and your newsletter with your eye on the market, a few home tips/tricks PLUS this delightful season comes with a cornucopia of local fall and Halloween activities that are sure to enchant and thrill. So, grab your cozy sweaters and pumpkin spice lattes, because we’ve rounded up some of the most exciting events happening right in our area!

Check Out These Fall Events:
The Harvest at Skagit Acres
Fife Harvest Festival
Seattle Chocolate Haunted Factory Tour
Stalker Farms
Serres Farm Pumpkin Patch
Cider Fest
Happy Halloween 🦇

Downsizing? Relocating? Retirement?

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Are you considering downsizing or relocating due to changes in your life, such as retirement, a move to another state, or transitioning to assisted living? Maybe you’re helping an aging parent find the right living situation for their needs, or you’re faced with making decisions after a loved one has passed away.
If any of these situations resonate with you, please reach out to me! I am a Seniors Real Estate Specialist® (SRES®) with specialized knowledge in assisting home buyers and sellers aged 50 and above. The SRES® designation is granted to real estate agents who have received additional training in later-in-life real estate transactions.
I am well-acquainted with local communty resources and have access to a network of experts including estate planners, CPAs, eldercare lawyers, estate sales professionals, online auction services, move managers, probate assistance, reverse mortgage lenders, contractors to repair the home and so much more!

My mission is to guide seniors and their families through the complexities of financial, legal, and emotional aspects related to selling a home and finding their next place to call home. I’m here to serve as your SRES®. Reach out to me today for your absolutely FREE consultation!

How do high interest rates affect the sale of your home?

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Great question! High interest rates can indeed have an impact on the sale of your home. As a professional Realtor it’s essential for me to help you understand how interest rates can influence the housing market and the potential sale of your property.

  1. Reduced Buyer Demand: High interest rates can lead to reduced buyer demand in the housing market. When interest rates are high, the cost of borrowing money for a mortgage increases. This means that potential homebuyers may be discouraged from entering the market or may have to adjust their budgets, resulting in fewer qualified buyers looking for homes. As a seller, this could mean a smaller pool of potential buyers for your property.
  2. Decreased Affordability: Higher interest rates can also impact the affordability of homes for buyers. With higher mortgage rates, monthly mortgage payments increase, which could make it more challenging for buyers to afford the homes they desire. As a result, some buyers may have to lower their price range, leading to potential downward pressure on home prices.
  3. Extended Time on Market: The combination of reduced buyer demand and decreased affordability can result in homes staying on the market for a longer time. With fewer buyers and potential price adjustments, it may take more time to attract the right buyer at a price that aligns with market conditions.
  4. Impact on Home Prices: In areas where high interest rates are prevalent, we may see a moderation in home price growth or even a potential decline in prices. When demand decreases, sellers may find it necessary to adjust their listing prices to attract buyers, and this could lead to a softening of home prices in the market.
  5. Impact on Refinancing: For potential buyers who already own a home, high interest rates can also affect their ability to refinance their existing mortgages. This may lead to fewer homeowners putting their homes up for sale since they may be hesitant to lose their current low-interest rate by purchasing a new property with a higher mortgage rate.

As your real estate agent, I’ll keep a close eye on interest rate trends and how they impact the local market. If we find ourselves in a high-interest-rate environment, I’ll work closely with you to devise a pricing and marketing strategy that takes these factors into account. My goal is to position your home competitively in the market and attract qualified buyers to ensure a successful sale, regardless of the interest rate climate. Rest assured, my commitment is to help you achieve the best possible outcome in any market conditions

Home Prices Predicted To Explode! BUY NOW!

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Self-made real estate millionaire Barbara Corcoran says it’s a ‘good time to buy’ because home prices are going to ‘explode’ when mortgage rates drop!

Alena Botros
Fri, June 2, 2023 at 2:00 AM PDT·4 min read

Appearing as a guest on Good Morning America this week, Barbara Corcoran answered several questions from viewers, ranging from when the right time to buy a home is to how to win a bidding war. As for the former, Corcoran said now is the time to buy.

“It’s a good time to buy because the minute interest rates go down, everybody’s waiting for them to go down even by a point, and when they do, they’re going to come rushing back in the market,” Corcoran said. “Prices are going to explode, and you’re going to be paying more for the same house. And you can always refinance, remember, when and if interest rates come down.”

It’s not Corcoran’s first time advising against even attempting to time the market. Previously, on the Chicks in the Office podcast, Corcoran said to forget about the timing, again stressing that now is always the time to buy.

The self-proclaimed “NYC Real Estate Queen,” founded the Corcoran Group with a $1,000 loan in 1973, which she famously turned into $66 million, after selling her business in 2001. She’ll always be a powerhouse within the real estate industry, but now most people know her as the spunky, blunt, and well-dressed shark on ABC’s Shark Tank.

Another viewer asked Corcoran how to win bidding wars, saying that he and his fiancee have been looking for a house but have been out bid every time they’ve found one they like. Corcoran said the key is to look like the “best deal in town,” while playing on the seller’s emotions.

“You have to be prequalified for your mortgage so you can go in there as an all cash deal. I’m an all cash deal, it’s not contingent, I already got my mortgage—you want that power behind you,” Corcoran said. “You also want to go in and realize it’s never just a financial deal. Get a nice piece of stationery and handwrite a note to that owner, and tell them how much you love the house. It makes a difference because people like to sell homes to people who love their house.”

As for the different types of mortgage loans that buyers can choose from, Corcoran said it depends on how long you’re going to live in that home. If you’re going to live there a long time, or at least except you are, Corcoran said a conventional rate mortgage at the shortest term you can afford, is the best option. On the other hand, if you’re only going to be living there for a short period of time, likely under five years, she said you’ll want to get an adjustable rate mortgage because it’s cheaper.

When Corcoran was then asked if there’s any way to get relief as someone who’s “house poor,” a term used to describe someone that’s spending more than 30% of their income on housing, she answered: “you don’t get relief from that.” In coastal cities, Corcoran said, people are spending more than 40% of their income on housing. But there’s a light at the end of the tunnel, in her view—people are forced to save by paying off their mortgage.

“When it comes time to retire, for most of us, it’s the only money we have to retire on,” Corcoran said.

Now if you want to make the most out of your home purchase, she said you’ll always get the best return in a high-traffic area. And if you want to make a killing, buy a home in an up and coming area. Corcoran’s formula for doing so? Follow the creative community and see where they’re living, and check out the nightlife.

And of course, a Corcoran Q&A couldn’t be complete without touching on rentals and renting. As for rent prices, Corcoran said they’re going to continue to go up, and there won’t be any relief. When interest rates go up and chase people into the rental market, rents generally go up. But when interest rates go down, that doesn’t mean rent follows. Corcoran said she’s never met a landlord that brings down their rent, ever. And, most of us know how she feels about renting—that it’s a “no-win game.”

This story was originally featured on Fortune.com

Remember~ date the rate, marry the home. As the famous Will Rogers said ” Don’t wait to buy real estate, by real estate and wait. Good advice everyone and I am just the gal to help you so reach out with all your real esate questions and needs in the Puget Sound region.

What is the most valuable piece of advice you’d give yourself?

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What is the most valuable piece of advice you could give your younger self today regarding building financial wealth? 💸

For me it’s a no brainer “BUY DIRT”! Not only do I love that song by Jordan Davis and Luke Bryant the video just speaks to my heart and soul of what life is all about AND I have seen it repeatedly with many of my clients.

📖 STORY TIME: in June of 2020 I sold the pictured home for $639,950. The buyers have since had a change of life plan and are moving out of state. Thankfully they have been in the home for 2 years as their primary residence so it will save them on the capital gains tax. WHEW! This month, April 2023, the home is now pending under contract and will be closing soon for around $900,000. That is a profit of around 💰$260,000💰 in 2.5 years!!!! Do the math if you must and see the 📈appreciation they received in this short time. I may be a Realtor and yes, this is my job but it’s a career I love and I believe very strongly the most solid way to build wealth and secure your future is to buy a home. Your own piece of dirt.

Inventory is still low, prices continue to go up, by the time the rate is where you want it, that price home won’t be what you want anymore, so you will have to spend more to get the same house. I always tell my buyers that it’s important to “marry the house, date the rate” Find the home you want in today’s prices and then when rates go down, refinance to save. If you wait for the rate to go down for 12 months or, more, and prices increase 5-10% during that time, what are you really saving? And, the main reason you are moving cannot be achieved if you stay put (need more space, closer to family, etc. )

You are investing in yourself when you purchase a home. We purchased our first home at 7.5% and that was normal!! Over time home values will always continue to rise, homes are a long term investment and let’s face it it’s better than paying the 100% interest you are currently paying on the rental you have.😟

Let me know if you want me to help you build your financial wealth!

What, Where and When to Shred.

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This is an oldie but a goodie handout. I like to give to my clients as they are going through paperwork when they are decluttering for us to sell their current home or home buyers when packing up for their move. We all have it lots and lots of paperwork! This time of year you may be done with taxes and have all the documents still sitting around or, you may be feeling like spring cleaning and wondering what documents you really need to keep and for how long. I hope this helps.