Summer Renovations

Getting Ready for Summer Renovations?

Are you tired of your home's layout? Bored with its inadequate lighting or outdated fixtures or, simply in need of a little change? Many homeowners across the country are gearing up for their summer renovations; whether you're just reaching out to builders, finalizing plans, finessing details or stocking away pennies to pay for it all, be sure to include electrical plans in the mix.
Remember - a home is a system of electrical, heating, lighting networks which work together to create a warm and safe abode. So, an important part of all summer renovations is the careful consideration of the electrical wiring in your home.
If you're planning on building a recreation room, enhancing your kitchen or making over your living room, you should design your layouts around each room's key features. So, keep in mind where all electrical outlets will need to be for lights, appliances and electronics. Considering heated floors or ceiling fans? You will need a reliable, well-trained electrician to plan out the installation of these features and determine how to best install electrical wiring.
Wall plans are also required in order to lay out your house wiring. You'll have to ensure that you enlist the help of a professional electrician to help you draw out the plans in advance so that you can get the necessary permits without delay. You may find your electrical wiring needs upgrading to maintain safety in your home and meet housing standards. As such, renovation jobs can take longer than originally planned; so, always add extra time to allow for setbacks.
If you are tearing down any walls in your home, make sure that an electrician determines where all electrical wiring is located. Once you begin the process, it may be too late to employ a quick fix if something goes wrong.

Copyright© 2012 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Extra-Low Mortgage Rates

3 Reasons Not to Refinance at Extra-Low Rates

Be on guard against those low, low mortgage rates - you may end up spending more by refinancing than if you had stuck with your current mortgage, even if your new interest rate would be under 3 or 4 percent financial planners warn.
Here are 3 warning signs for not refinancing your home at a lower rate:
-You're one of the many homeowners who owe more than what the home is worth. Lenders may ask you to pay a higher rate of interest, perhaps a quarter or half percent more than the average national home loan interest rate, mortgage brokers say. Even worse, a prospective lender may ask you to pay property mortgage insurance, which will add thousands of dollars to the cost of your loan, says Deerfield Beach, Fla., financial planner Blair Shein.
-There's a chance you might move to take a new job. If you don't stay in your home for at least two years then you may actually lose money on refinancing, says Plantation, Fla., financial planner Matt Saneholtz, who is president of the Financial Planning Association of Greater Fort Lauderdale. That's because you won't have time to recoup the closing costs, he said.
-You will end up paying more. If you have less than five years to pay, then you will generally pay more if you take out a longer loan, even if it offers a much lower interest rate, Shein said. That's because the longer loan length means more interest costs although your monthly payment will be smaller, he says. You only come out ahead if you continue making your existing loan's bigger payments on the new loan. That will ensure you will pay less interest - and pay off the loan even quicker, he said. "But the reality is that most people don't that," Shein says.
Homeowners should examine all the costs before signing up for a new loan. "Do the math," financial planner Saneholtz says. And beware of the hidden closing costs: You may not have to pay any when you sign for the mortgage, but those costs will be added to your new loan - often involving thousands of dollars, he says.

©2012 Sun Sentinel (Fort Lauderdale, Fla.) Distributed by MCT Information Services and RISMedia

Mortgage Rates Continue To Drop!

Mortgage Rates for a 30 year loan are down from 4.64% average in May 2011 to 3.8% average this last May 2012. With rates going even lower it is a good time to buy or refinance.

Florida Housing Market

                                                                                                                 Florida Housing Market continues to be on a positive track in May.

The recovery in Florida's housing market continues to grow stronger and stronger. Pending sales up 43.1% for single family homes and up 33.4% for condos/townhomes. Some areas in Florida are having a shortage of inventory which is resulting in multiple offers. 

Existing-Home Sales Decline in March but Inventory Down, Prices Stabilizing

Existing-home sales were down in March but continue to outpace year-ago levels, while inventory tightened and home prices are showing further signs of stabilizing, according to the National Realtors Association.

U.S. home buying finally signals a recovery

Many would-be buyers appear emboldened by reduced prices, record-low mortgage rates, higher rents and more jobs.

Homes represent a better bargain than Stocks at this point, says financial commentator Ben Stein, newsman commentator. In January US homes fell to the lowest level, 0.8 percent since 2003. Homes are just begging to be bought!