If you have a good amount of equity in your home, and would like to make some home improvements, or need money to help you pay for a child’s college tuition, you may be considering using the equity in your home to help pay for these things.  Let’s look at the difference between the two so you can make the right decision before you sign on the dotted line. 

Home Equity Loan 

• Basically speaking, a home equity loan is a second mortgage on your home, which is used as collateral by the lender.  
• The lender usually bases the loan amount on the difference between the homeowner’s equity and the home’s current market value.  Investopedia can help you determine how much equity you have in your home. 

• Most lenders allow homeowners to borrow up to 85% of the home’s total value, but only based on what portion you actually “own.” If you haven’t finished paying your original mortgage off, your equity will be less than someone who has paid off their home loan. 
• A home equity loan will be paid as a lump sum and comes with a fixed interest rate. You will know how much you must pay every month, in addition to your current mortgage payment. 
• Just like the initial purchase of the house, your credit needs to be in good standing, so have all your financial records in order when you meet with your lender. 

Home Equity Line of Credit (HELOC) 

• HELOC’s are a second mortgage as well, but instead of a lump sum, the homeowner typically has a five-to-ten-year “draw” period where they have access to the amount of the credit. 
• During the draw period, some lenders allow interest-only payments on the amount, while some require principle-plus-interest payments. Either way, pay more than the minimum so the principal can be paid off before the repayment period. 
• Once the draw period is over, repayment of what credit you have used will begin.  Keep in mind that these payments will be higher than the earlier amounts you’ve been paying. 
• Your line of credit can be used for anything, but if you’re thinking about an island getaway, or some other non-essential purchase, you are better off starting a savings fund.  If you can’t meet the payments once the draw period is over, you could lose your home to foreclosure.  
• In some cases, a lender will close your line of credit early if your circumstances change.  If you’re using that money to pay your child’s college tuition, you’ll no longer have access to it, creating financial strain. 

Before deciding to use either of these types of credit, find out if using the equity in your home is the right way to go.  If you’re already having a hard time paying the bills, a home equity loan or HELOC will only put your further in debt.  Contact a HUD-certified financial counselor to help you get your debt and other financial matters under control. 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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The poor, lowly bathroom.  Many of us don’t really know how to decorate it short of hanging a pretty shower curtain, because there’s very little room for improvement. Or so we believe. Let’s look at some ideas to make a small necessary room a more attractive place to visit: 

• Just because the room is small doesn’t mean the walls have to be white.  Paint in a color you love, bold or pastel, or wallpaper that makes a statement is as appropriate for a small room as a large one. 
• A small bathroom means smaller-sized fixtures and splurging on a nice cabinet or sink won’t hurt the pocketbook as much, while adding style. 
• Contrasting shower tile is a great way to add color to a bath and gives you a reason to keep the curtain pulled back, opening up the space, and showing off your colorful shower! 

• If your small bath or powder room doesn’t have a window, use decorative lighting for your focal point, and add wall sconces on the wall over the toilet, and on either side of the mirror. 
• Floor covers, and adhesive tile is simple to install, is available in endless designs and colors, and can be the feature for your small bathroom.   
• When new tile, paint, or wallpaper isn’t in the budget, add color through your accessories. Brightly colored curtain or shade, rug, and artwork can make the room. 
• Since most small bathrooms don’t have a lot of storage, you have to be creative and practical, or use functional decor.  Check out these bathroom storage ideas from Good Housekeeping. 
• Weekend warriors or those who are confident enough in their skill level can create recessed shelving with this how-to from DIY Network.  If you like the idea but lack the skills, call a reputable carpenter to handle this small job. 

• Large mirrors aren’t just for large bathrooms; using them in your small bathroom helps bring in the light, making the room appear larger. 
• Keep the less-is-more attitude when adding things to a small bathroom; a small plant, soap, and hand towel are all you need on the counter. 

Not only can you make your little bathroom stylish, you can cut down on clutter and keep it organized for smoother mornings or guest use.  Don’t think of this project as a challenge, look for inspiration, and it may end up becoming your favorite retreat! 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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It’s time to get ready to put your home on the market, and there are some things to think about before you have it listed.  There’s work to be done, and some dos and don’ts that should be taken into consideration if you want your home to sell! 

• The exterior of your home is the first thing a potential buyer sees; paint the siding, if necessary, and make sure the roof is in great shape.   
• Clean up the yard, front and back, and add some seasonal plantings for color. 
• A deep clean inside is necessary.  Wash windows, (inside and out), walls, draperies, scrub the bathroom’s every cranny, and shampoo the carpets. 

• If you have pets or a smoker in the home, a professional clean may be necessary, or even a new coat of paint on the walls. Pet odors and cigarette tar stay on everything.  Ask a friend or neighbor to come in and do a smell test and tackle any issues that they share with you. 
• Deciding what colors to paint the walls shouldn’t be of your personal taste.  Choosing neutral colors is best, and don’t stop at the living areas walls–paint every room. 
• Check all the doorknobs, and if any are sticking or simply not working, replace with similar hardware, or replace all of them.  It’s also important for all the exterior door locks to be in proper working order and replace any that aren’t. 
• Major repairs or restoration should be done by a pro or an experienced DIYer.  If you choose not to make a repair that you know is needed, you’ll have to be up front to your agent, make the needed fix is listed in your disclosure, and be ready to lower your selling price. 
• Sellers want their home to stand out, but don’t overdo it!  Using generally popular fixtures and finishes is better than going with the latest trend. 

• Even if your storage space is limited, make it appear like there’s plenty of room.  Remove seasonal clothing from closets, as well as occasionally used kitchen gadgets from cabinets and counters, and put them in storage with the rest of your things. 
• Consider staging, and if you can’t afford to go full scale, find a designer that will use your furniture and decorative pieces to maximize space, as well as have it looking its best. 

Lastly, don’t go it alone; find a RealtorⓇ that knows all that you don’t about selling your home.  Using an agent gets your home “out there,” and will make the process easier for you as well as for the buyer.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Mold is a subject that strikes fear in many people.  Though the toxic form of black mold is rare, there are plenty of other types that invade our bathrooms, basements and other places in our homes. Let’s look at the best ways to get control over any mold problem anywhere we find it. 

The bathroom is the most common place for mold, because it has all the right conditions for mold growth:  moisture, a place to grow, and food. 

• Use the exhaust fan every time you shower, and if your bathroom isn’t equipped with one, crack the window to allow the steam to escape. 
• Wipe down the shower walls and door when you’re finished, leaving the door open until everything is completely dry. 

• If you use a shower curtain, use an anti-mold spray, commercial or homemade, to spray the curtain down, and pull the curtain to its fullest length to dry. 
• Any leaks should be repaired immediately and inspect under the sink every few weeks to make sure everything is dry in the cabinets. 
• If you have a tile bath, give the grout a waterproof seal once a year. 
• When you do find mold on hard surfaces, the CDC recommends mixing a solution of no more than 1 cup of household bleach in a gallon of water.  Provide good ventilation, spray on affected areas, leave for five minutes, rinse, and allow to dry. 

Other common places for molds to grow, especially this time of year when we have the heat on, are closets, window sills, basements, and floors around entryways. 

• Use washable mats and throw-rugs with waterproof backing at doorways. 
• Keep your home’s humidity below 40%.  Using a humidifier is a necessity in Winter, and you may need to use a hygrometer to help you keep moisture levels in check. 
• Occasionally inspect your fridge’s drip pan for excessive moisture, and clean according to manufacturer’s instructions. 
• Attics can be the first-place mold can start in case of a leaky roof, so get the roof repaired immediately, and clean the mold as soon as you discover it.  Be sure there are no leaves or other obstructions blocking the attic’s vents. 

• Having the crawl space of your home encapsulated can be expensive, but it is the only solution to keeping moisture from coming up from the ground and can help you see standing water in case of plumbing leaks. 
• The EPA has some tips for mold cleanup, as well as information on when to call in a pro for removal.  

There are many products available to help keep moisture in your home at bay.  Desiccant bags containing silica gel are great for hanging in small places such as closets.  Small non-electric dehumidifiers are also available for larger areas, and whole-house dehumidifiers are another option, just more expensive.  While not all molds are toxic, they are allergens, and prevention and action are keys to a healthier, mold-free home.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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Your home is on the market, the whole family has pitched in, decluttered, cleaned like never, reworked the furniture layout, and maybe even done some painting and remodeling.  You also work full-time, and the kids keep you busy after school with activities and lessons.  How do you keep the house clean and smelling fresh for showings?  Follow these tips so you won’t have to work too hard after working hard. 

• Two things to be done daily:  keep the mail sorted and newspapers in the recycle bin and make the beds.  If there’s an upper bunk bed that’s a beast to keep looking show-perfect, have a large comforter that can be thrown on top and cover the not-so-perfect sheets. 
• The bathroom can be an issue with needing constant cleaning to keep it sparkling and fresh, and disposable cleaning wipes are the best way for a quick clean.  You can also use a bit of fresh-scented cleaner for pouring down the sink and tub drains to clear the air while you’re away. 
• Once you’ve done a major clean of the tubs and showers, keep them shiny with a DIY daily cleaner.  Bev from The Make Your Own Zone has a great guide for keeping the shower sparkling! 

• If you have pets, but don’t have time for constantly vacuuming and sweeping stray fur, keep them brushed daily, and, if they love the sofa, have sheets on the furniture to simply remove when you know someone will be there for a walk-through. 
• Didn’t have time to do the dishes?  Rinse them well and stash them in the oven if you have no dishwasher.  Pouring some vinegar and baking soda down the drain/disposal will help keep any food odors away. 
• The kitchen can be a major source for oily spots, and baking soda is the key to getting those areas clean.  Sprinkle some on a damp cloth, scrub the greasy areas, and go back over them with plain water.  Wipe down those areas as soon as you’ve finished cooking to keep them from getting visibly dirty again. 
• If you can afford to have more than one throw rug or mat by the front door, have one clean and ready in case one gets visibly dirty, or just to put a fresh one down before a showing. 
• Choose one room to spend most of your leisure time in.  That way, when they kids are finished with homework, reading, or toys, everyone can keep an eye on things, and make sure whoever makes a mess cleans it up. 

In today’s busy world, a lot of home showings are done on the weekends.  Have your weekly cleaning jobs done by Thursday evenings so you will only have to make sure things are in order and wipe down a few areas before buyers start coming through.  Delegate an age-appropriate job to every person in the house and make a list if necessary.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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NEW YORK – Dec. 10, 2018 – Homeowners are still finding plenty of equity in their homes, but the gains are slowing. The average homeowner gained $12,400 in home equity between the third quarter of 2017 and the third quarter of 2018, according to CoreLogic’s latest Home Equity Report. However, that’s lower than the more than $16,000 year-over-year gain in equity reported in the second quarter, CoreLogic notes. The report found that homeowners with a mortgage saw their equity rise by 9.4 percent over the past year.

The average Florida homeowner also saw a gain in 3Q 2018, but it lagged the overall U.S. average a bit at $10,000.

“On average, homeowners saw their equity increase again this quarter, but not nearly as much as in previous quarters,” says Frank Nothaft, CoreLogic’s chief economist. “The lower year-over-year gain reflects the slowing in appreciation.”

Still, nearly every state posted an increase in equity among homeowners in the third quarter. Western states saw the most significant increases in the third quarter, according to the report. For example, California homeowners recorded an average gain of about $36,500 in home equity in the third quarter; Nevada homeowners saw a $32,600 uptick.

Source: CoreLogic

© Copyright 2018 INFORMATION INC., Bethesda, MD (301) 215-4688

https://www.floridarealtors.org/NewsAndEvents/article.cfm?id=374968

Maurince Pierre, Realtor 

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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The Windermere Real Estate Market Trends Report shows the average sales price was $557,315 in October 2018 compared to $691,795 in October 2017. Homes were on the market for an average of 74 days, down from 82 days last year. Homes sold for 97% of the list price.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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The Kissimmee Real Estate Market Trends Report for 34741 shows 46 homes sold in October 2018 up from 45 in October 2017. The average sales price was $192,568 compared to $174,158 in October 2017 and homes were on the market an average of 47 days, equal to 47 days in October 2017.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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The mortgage-lending process has several steps, and one of them is the appraisal.  Lenders require an unbiased valuation of the home that’s being sold, and the appraiser will not only look at sales of similar homes in the area, they’ll look at the property itself. Here are several things sellers can do to get ready for the process, and maybe even improve the appraisal value of the property. 

Outside 

• Start your once-over outside, and make sure your front and back yards are neat and clean of debris.  Check fencing for any damaged places and repair them.   
• Small improvements are best for the look of your landscaping:  fresh mulch, some new plants, and a recent mow and trim work. 

• The siding of the house should look great:  no peeling paint, no broken or missing vinyl siding, no rotting wood.  
• Check condition walkways and steps, making sure nothing is in disrepair or needs replacing. 
• Make certain windows are in good working order, with no rotting sills, cracked glass or peeling paint. 
• Decking and porches should be in safe condition. 
• Check the roofing for missing shingles or bad spots. If your roof has had any recent repairs, have that information ready for the appraiser to take note of.   

Inside 

• Walls should look great–no permanent marks or cracks.  If you see a problem that needs repair, have the work done, or you’ll need to allow the buyer to have a credit to make the repair. 
• Flooring that’s worn, soft, cracked, scratched or stained won’t make a good impression.  Clean the carpets, and make repairs to any hardwood, tile or linoleum. 
• Bathroom fixtures should be clean and in good working order. 

• In the kitchen, that sagging cabinet door needs to be set right, and faucets and plumbing should be in good shape. 
• Odors can signify a problem:  pet odor can be taken care of with some elbow grease and deodorizing cleaners, and if mold is an issue, have that erased by a mold-cleaning specialist.  If it’s just general bathroom mold, there are plenty of household cleaners to remedy that. 
• Ceiling stains can be a sign of a leak.  If you’ve had that repaired, have that information available for the appraiser, and paint the ceiling. 

The appraiser will be looking at general things, but if something costs $500 or less to repair, take the chance that it will improve the value of the property.  Don’t go replacing a working 10-year-old HVAC unit that you’ve kept maintained, as that won’t necessarily add to the appraisal value.  Have other major repair paperwork ready for the appraisal appointment and allow the expert to walk around and do their assessment.  The buyer already likes your house well enough to make an offer, and you’ve likely already done the work to make your home sell.  Maintain your house during the showing process, and it will benefit you come appraisal time.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently.  You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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The Windermere Real Estate Market Trends Report shows the average sales price was $600,632 in July 2018 compared to $584,461 in July 2017. Homes were on the market for an average of 74 days, down from 82 days last year. Homes sold for 97% of the list price.

Access Teri’s one-stop Orlando FL home search website.

Teri Isner is the team leader of Orlando Avenue Top Team and has been a Realtor for over 24 years. Teri has distinguished herself as a leader in the Orlando FL real estate market. Teri assists buyers looking for Orlando FL real estate for sale and aggressively markets Orlando FL homes for sale.

You deserve professional real estate service! You obtain the best results with Teri Isner plus you benefit from her marketing skills, experience and ability to network with other REALTORS®. Your job gets done pleasantly and efficiently. You are able to make important decisions easily with fast, accurate information from Teri. The Orlando Avenue Top Team handles the details and follow-up that are important to the success of your transaction.

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