Tuesday, May 31, 2011

Start Your Projects!

Summertime is here and millions of Americans will be starting home improvement projects.  Whether they're classified as maintenance, updating or energy saving, they should make homeownership more enjoyable.

Remodeling Magazine's 
2010-11 Cost vs. Value report suggests that some improvements are a better investment than others.  Front door and garage door replacements are two of the easiest and return the greatest percentage of cost on resale.

Kitchen and bathroom updates transform an older home and instantly give visitors and buyers a fresh impression. Countertops and appliances can be expensive but yield great results.  Painting the cabinets and replacing the hardware is much less expensive to change the look and feel of the rooms.

Energy efficiency enhancements can improve your enjoyment of the home and help save money on utility costs.
  • Replace older appliances - refrigerators, ceiling fans, water heaters, air-conditioners
  • Add insulation to keep your home cool in the summer and warm in the winter
  • Seal air leaks around doors and windows; holes in attics and crawl spaces with caulk, spray foam or weather stripping - more info
  • Seal all heating and cooling system ducts - more info
Looking through the eyes of a buyer could show you what features most date your home and could order the priority that you tackle the projects.

Friday, May 27, 2011

Representing the Best in Insurance

At Triplett we have policies for homeowners, renters, auto, health, life, cycle and rv, mobile home, commmercial and general liability.  In other words, we can help you insure just about anything!


We'd love to be able to help you get more information about any of the companies below or any other insurance companies you're interested in.  Our number one priority is you!


Below are a few links to the websites of some of the companies we represent.
Progressive -- Allied (Nationwide) -- Travelers -- Central Iowa Mutual -- Coventry Health Care -- Victoria

Tuesday, May 24, 2011

Buy Now! or Wait?

Uncertainty as to whether prices will continue to fall has to be one of the most common causes of buyer procrastination.  Of course paying too much wouldn't be a smart thing, but price isn't the only factor to consider.  Interest rates have as much effect on housing costs as price.

A small increase in mortgage interest rates can offset a significant drop in home prices.  If the price of the home were to come down by 5% but the interest rates were to go up by .5%, the payments might be close to the same.

For example, if the price of a $175,000 home went down 5% but the interest rate went from 4.75% to 5.25%, the payments would actually be $4.98 more at the cheaper price.  If while the buyer was waiting for the home to decrease 5% and the interest rate increased by 1%, the payments would actually go up by $55.30.

Then, of course, there is always the possiblility that the price of the home doesn't go down but the rate does go up by 1%.  The payments would be $104.58 more per month, each and every month for as long as you have the mortgage on the home.

Our local and knowledgable real estate agents at Triplett can provide solid information that will help you make better buying decisions.  A home is a place to feel safe and secure, to raise your family, share with your friends and an investment.  It's an investment in your marriage, your family and your future.  You owe it to yourself to check out the real numbers in your market.

Wednesday, May 18, 2011

Not So Fast Buyers!

One of the challenges buyers are having with financing may be their own understanding or lack thereof.

In a recent survey done by research firm Ipsos for Zillow, a surprising number of incorrect answers to true or false questions were given by prospective buyers.

Over 3/4 didn't realize how the mortgage rate was determined for a borrower, thinking that annual income was the most important factor. Other considerations lenders do evaluate are credit score, debt-to-income and loan-to-value ratios.

A variety of myths seem to have influenced some of the common answers, such as: interest rates are set and released once a day; FHA loans are for first-time buyers only; pre-qualification commits the lender; lender fees are not negotiable and adjustable rate mortgages always go up.

Buyers' misunderstanding of actual mortgage practices may give some insight into why more of them are not taking advantage of the greatly reduced prices and incredibly low mortgage rates.

While getting solid information about mortgages and being pre-approved from a lender are very important, it is only one step in the home buying process. Success in buying a home in today's unique market should begin with a real estate professional that will coordinate all of the different parts of the transaction including mortgage, title, insurance and inspections.

Monday, May 9, 2011

Mortgage: Cash-in Refinance

Here's an interesting thought. Instead of pulling money out of your equity when refinancing your home, consider putting some cash into your equity. The strategy would be to get a considerably lower rate and a shorter term than 30 years. It will pay off your mortgage sooner, build equity faster and save lots of money in interest.

If you have some extra cash available, this might be very attractive compared to what your are earning currently on those savings.

Take for exampe the following scenario: the current mortgage is at 5% for 30 years with payments of $939.44. The owner can refinance for 15 years at 3.875%. If they put $30,000 into the refinance, their payments will be slightly more than the current $1,011.06 but the mortgage will be paid off in 15 years. At that same point, if they keep the current mortgage, their unpaid balance will be $101,572.88. In order to have the same payments as the mortgage they're refinancing, they'll need to add $39,764.68 to the refinance.

If you have a goal to get your home paid off and you have some funds available, a cash-in refinance may be just the strategy for you.

Friday, May 6, 2011

Welcome!

Welcome to the blog of the Triplett Companies.   Check out one of our four pages at the top of your browser to find out what we're all about - and be sure to remember to check back often for special deals and exciting news!