Charlotte NC Homeowner Tips Archives - Houses for Sale in Charlotte NC %

P. U. – What’s that Smell?

02/04/2021 by Debe Leave a Comment

P. U. – What’s that Smell?

When a circuit breaker overheats, the plastics and heat-resistant chemicals used to make the breakers, as well as outlets or wiring insulation, may emit a fishy or urine-like odor. You can often smell the odor throughout the house, but it is more intense near the breaker box or in the room of the faulty outlet or wiring. The odor may intensify or diminish with changing temperatures and circuit usage. Because it is often a circuit breaker of a high-demand appliance (HVAC, dishwasher, etc.), it can be difficult to identify the origin as those appliances are not always running.

The odor can be caused by any number of electrical problems, including but not limited to:

Overloaded circuits
Short circuits
Undersized wiring
Undersized circuit breakers
Loose plugs in outlets
Improperly inserted circuit breakers
Damaged outlets
Damaged electrical insulation

Typically, the fishy smell is an early indicator of a serious electrical problem that could lead to a fire. So, the first call to make when you when you notice a pungent fishy, urine-like, or burnt plastic smell near your breaker box, any outlets or electrical devices? Your electrician! He/She has the equipment to do a thorough inspection to find the scary culprit.

NOTE: I am not a licensed electrician, nor do I pretend to be one! I learned the above, first-hand. The photo of the burned breakers (yes, we had TWO of them) are of our breakers.

Our first clue was the fishy odor. Then our HVAC breaker tripped 3 days in a row. We made the call and what we found out was that the 60 amp HVAC breaker contacts were not making the proper connections. That breaker overheated and melted and then started burning the one across from it in the breaker box.

Debunking the Forbearance and Foreclosures Myths in 2021

01/22/2021 by Debe Leave a Comment

Debunking the Forbearance and Foreclosures Myths in 2021

Many homeowners had their lives turned topsy-turvy nearly a year ago with their economic stability, completely disrupted. In the beginning of the COVID pandemic, economic uncertainties were first and foremost in most American’s minds. The government very quickly responded to that angst, putting into place forbearance plans. They were available to homeowners who had experienced job loss and/or economic hardships, allowing them to remain in their homes, without making their monthly mortgage payments.

Some who signed up for the forbearance program, quickly rebounded and have since attempted to secure a mortgage for a new house and many to refinance their homes. Sadly, those who accepted forbearance are unable to refinance or secure mortgages.

The good news…

There is good news for those who were able to exit forbearance. Most homeowners must only make 3 consecutive payments AFTER exiting forbearance to be able to refinance.

**Note: I am not a lender so, please check with your lender to confirm that this applies to your mortgage.

Nearly three million American households are actively in a forbearance plan. While 1/3 of those in forbearance have continued to stay current on their mortgage payments, many have not. According to CoreLogic, 39% of those who accepted forbearance are 150+ days behind; fewer than 25% who are actively in the forbearance plan are 180+ days past due.

The better news…

When you compare today’s homeowners who are behind on their mortgage to 2006-2008, that number is really a drop in the bucket. The housing crisis during The Great Recession does not even remotely compare to today’s housing market.

Michael Sklarz, President at Collateral Analytics:

“We may very well see a meaningful increase in the number of homes listed for sale as these borrowers choose to sell at what is arguably an intermediate top in the market and downsize to more affordable homes rather than face foreclosure.”

Delinquency alone is not enough to send a mortgage into foreclosure. Pundits who speculate that massive foreclosure is right around the corner, are not taking into consideration, the equity of the homeowners who are in forbearance. If push comes to shove, a large majority of those homeowners can sell their home to avoid foreclosure – and no, not short-sale it – sell it and cash out!

Many homeowners in distress have the option to tap into their equity to use until their economic strife improves. OR, instead of participating in the forbearance program their bank offers, they can simply refinance and reduce their mortgage payments. This can help them avoid having to accept forbearance and thus, having that impact further/future financial challenges.

According to Realtor.com,“Nationally, the number of homes for sale was down 39.6%, (449,000 fewer homes for sale than last December).”

With the unprecedented lack of inventory on the market, the national market can easily absorb 500,000 homes this year, without home values depreciating. In the Charlotte Metro region alone, our inventory is down 55% – over 50,000 homes can easily be absorbed in our market.

Americans have suffered economic hardships in their lives – both personally and in business. The overall residential real estate market however, has overwhelmingly weathered the 2020 pandemic storm and will continue to do so in 2021.

Why talk of a housing bubble is blowing up

12/16/2020 by Debe Leave a Comment

Why talk of a housing bubble is blowing up

Talk of a housing bubble is beginning to crop up as home prices continue to appreciate at a rapid pace this year. Well, not so fast! Although the appreciation of residential real estate is well above historic annual averages, there are other factors to consider.

First, let’s look at the numbers:

According to the Federal Housing Finance Agency (FHFA), annual appreciation since 1991 has averaged 3.8%.

2020 appreciation percentages range somewhere in the 7% range, nearly double the average annual appreciation:

FHFA: 7.8%
CoreLogic: 7.3%
Case-Shiller: 7%

Everything about 2020 has been odd and all-in-all, one thing has led to another to leave us with such high appreciation numbers. And, really, as a homeowner, I’m not complaining one little bit! Let’s put these numbers into context before we talk bubble.

Scarcity and affordability were a problem before 2020 but, the major life changes of 2020 added significantly to the tightening of residential home sales. Many buyers report expediting their home search timeline during the pandemic, citing low interest rates and the potential to get a good deal on a home as their main motivation. While ‘getting a deal’ was a rarity due to scarcity in our inventory, there were more motivating reasons that became priority.

A vast majority (74%) of those speeding up the process are repeat buyers. Active buyers are moving due to major lifestyle changes (I.E. homeschooling & working from home) and according to Forbes, the following are the biggest reasons:

Extra bedrooms (43.5%)
Open floor plan (45.7%)
Good lighting (45.7%)
Kitchen style (50%)

As remote work continues to be the ‘norm,’ two criteria that previously ranked very important to many buyers – location and commute times – are no longer a priority. Instead, buyers are now able to focus on neighborhoods, communities, suburbia and lifestyle. The work-from-home phenomenon is enabling more buyers to live where they want to live. Buyers now want home offices, gyms, and flex rooms that are suited for private video conferencing, away from other household members.

Barbara Ballinger, a freelance writer and the author of several books on real estate, recently wrote:

“While homeowners continue to want their outdoor spaces that offer a safe retreat, that appeal has shifted into other parts of the home, coupling comfort with function. In other words, homeowners want amenities for work and leisure, and they plan to enjoy them long after the pandemic.”

According to the Mortgage Bankers Association, applications for mortgages over $766,000 increased 59% year-over-year in Q3, the largest uptick of all price segments. In comparison, mortgages from $150,000 to $300,000 increased only 13% in comparison. One reason for the lower increase in the lower end price range could very well be due to scarcity of homes in that range.

Realtor.com just released their November Monthly Housing Market Trends Report. It explains:

“Nationally, the inventory of homes for sale decreased 39.2% over the past year in November…This amounted to 490,000 fewer homes for sale compared to November of last year.”

Right now, buyers are being cautious but, the fact remains, they are out in force. The desire for homeownership is still alive and well! With a vaccine on the horizon, more homeowners will be putting their houses on the market. This will better balance supply with demand and slow the rapid appreciation.

As a result of the expected increase in inventory, major organizations in the housing industry are calling for much more moderate home appreciation next year. Here are the most recent forecasts for 2021:

As well, the number of borrowers with active forbearances has declined over the past few months. According to HUD’s July 2020 “Neighborhood Watch” report, 17% of 8 million insured mortgages are now delinquent.

*Note that forbearances are also included in that 17% stat. As concerning as that may be, delinquency rates for subprime mortgages were much higher during the crash of 2008-2010. Ultimately real estate was at the CORE of The Great Recession whereas in 2020, it is more of a by-product.

With the easing of forbearances, expected increase in inventory and stabilizing market values, bubble theories can easily be dispelled.

Not sure about this market? Let’s talk! I’m happy to share data that is more tailored to your area, your neighborhood and your home. Call or text me at (704) 491-3310.

How to Keep Senior Loved Ones Happy and Healthy in Your Home

07/07/2019 by Debe Leave a Comment

How to Keep Senior Loved Ones Happy and Healthy in Your Home

As our parents grow older, they sometimes look to us for their care and comfort. When that involves moving a senior loved one into your home, you may be worried about whether your home will truly be prepared. Thankfully, there are a few steps you can take to make life easier for your loved one during this big move and to make your home safer and more comfortable.

Encourage Your Senior Loved One to Stay Social

No matter how much your parent loves you, it can be difficult for her to rely on you for health, safety and a home. Your loved one may experience feelings of depression while processing all of the changes that come with this type of move, but avoiding social activities will only make those feelings worse. Social isolation is a prevalent issue among older adults and is even considered a significant public health threat for affected seniors. So if your parent shows signs of fatigue, depression or can’t seem to keep up with personal hygiene after moving in with you, know that social isolation could be a problem. You can help your loved one get over this hurdle by urging her to find a part-time job, join a fitness class, or even get involved with volunteer work.

Be Sure to Address Any Other Mental Health Concerns

While social isolation is a common concern for aging adults, it is by far not the only one. Since many seniors move in with loved ones after losing a spouse, grief can be an emotional factor as well. Supporting a surviving parent’s social activities can make processing this grief a bit easier, but you may also need to provide additional support at home. Consider cooking some comforting, healthy meals to encourage your loved one to eat and maybe take some walks outside together on a regular basis. Grief can also impact a senior’s ability to sleep, so you should take care with creating a comforting sleep haven in your loved one’s bedroom. Make sure this room has a supportive mattress and try to minimize to promote deep and restful sleep for your loved one.

Clear Out Clutter Before Your Senior Loved One Arrives

Another way to care for your elderly loved one’s mental health is to get rid of clutter in your home. Clutter can impact emotions by increasing feelings of anxiety and stress, which can take a toll on seniors who are already stressed out by this major life transition. Not only will clearing out clutter reduce stress for everyone living in your home, but reducing clutter can also eliminate safety hazards and help prevent your aging parent from falling. In fact, getting organized and getting rid of clutter is one of the top fall prevention suggestions recommended by home healthcare experts. It’s especially important to keep random items off of floors to lessen trip hazards, but you should make an effort to organize other areas of your home too.

Go Room By Room to Eliminate Safety Risks

So you’ve successfully decluttered and organized your entire home. Hazards to your loved one’s health and safety, however, can still be lurking in each room. Before your loved one begins to unpack and settle in, walk through every room to look for these safety risks. While not necessarily clutter, you may want to get rid of rugs that can cause your loved one to slip as well as any exposed cords. Also, make sure that all accessible living areas are well-lit, and consider focusing your attention on preventing falls in the bathroom. Why the bathroom? Senior fall reports show that bathrooms tend to be some of the most dangerous rooms in the home, so yours needs to be equipped with features like grab bars to keep your loved one safe.

Your aging loved one invested so many years into your happiness and health. So return the favor by investing your time in home preparations that will keep your senior family member healthy, happy and comfortable in this new stage of life.

Thank you to our guest writer, Eugene Williams of DIY Dad – http://diydad.info/.

No related posts.

Tagged as: DIY, Multigenerational Living, Senior Living

Originally posted at http://athomescharlotte.com/realestate/lifestyle-blogs/how-to-keep-senior-loved-ones-happy-and-healthy-in-your-home/

A Green Spring – Charlotte Homeowner Tips

04/06/2019 by Debe Leave a Comment

A Green Spring – Charlotte Homeowner Tips

It’s spring cleaning time — and time for all things growing and green. Speaking of ‘green,’ how green is your house? Upgrading some of your home’s features to be more environmentally friendly can improve your home’s value and save you some ‘green’ in the long run, too.

Green updating may cost a little more up-front but, they are worth it in the long run – both environmentally and in utility bill savings.

Here are a few green updates you can make to your home:

• Install ENERGY STAR® appliances

• Install solar panels

• Get a geothermal water heater

• Install energy efficient windows & doors

• Install plumbing that reduces water usage

• Use a programable, smart thermostat

• Use lightbulbs that are energy efficient (LED and CFL are the best)

• Don’t crank the air conditioner unless you really have to—use ceiling fans

*Note: Some of these improvements may qualify you for tax breaks.

Thinking of listing your Charlotte area home? Let’s talk! Call or text Debe @ (704) 491-3310.

5 Ways to Protect Your Yard from the End of Winter Temperature Drops

03/06/2019 by Debe Leave a Comment

5 Ways to Protect Your Yard from the End of Winter Temperature Drops

Each year, about this time, we have one or two freezing nights, just when you think spring has sprung! Each year, beautiful blooms, exposed to the freezing temperatures, die or are browned/damaged by the frigid weather.

When the below-32º temperatures are predicted, here are a few easy tips to protect your budding or blooming yard at winter’s end:

5 Tips to Protect Your Yard when the Temperature Falls

• Place patio chairs over larger plants and shrubs to protect them from the elements.

• Cover the branches of blossoming trees at night with trash bags – but, remember to remove them in the morning so the blossoms don’t cook in the springtime sun.

• Use cardboard boxes to insulate plants against frigid temperatures.

• If you’re anticipating bad weather, think about picking up some sturdy wire mesh that you can use to encircle plants and then cover them with plastic.

• Turn empty laundry baskets, kitchen pots or terra-cotta planters upside-down to cover young, sprouting plants – it will protect them from severe weather.

If you’re looking for a home with space for a spring garden, I can help! Contact me today at (704) 491-3310.

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P. U. – What’s that Smell?

Debunking the Forbearance and Foreclosures Myths in 2021

Why talk of a housing bubble is blowing up

How to Keep Senior Loved Ones Happy and Healthy in Your Home

How to Keep Senior Loved Ones Happy and Healthy in Your Home

A Green Spring – Charlotte Homeowner Tips

5 Ways to Protect Your Yard from the End of Winter Temperature Drops

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