Some Home Buying Tips...

As you hit the internet or paper or start calling your favorite real estate agent, such as myself... here are a few things you should consider:

• Study - Do your homework before you buy. Review the prices of comparable homes in the neighborhood, a real estate agent can provide the latest sales data.

• Cure your credit - Today's best mortgage rates require a credit score of more than 700. Learn how to boost your credit score before you apply for a mortgage. Not only will a low credit score cost you more in terms of the interest rate on your mortgage, it could also prevent you from obtaining a mortgage.

Go to AnnualCreditReport.com, the only federal government-sanctioned service for obtaining a truly free credit report from one or all three of the major credit bureaus. The report is free, but you will have to pay a nominal fee to get your credit score.

• Consider a 'Lucky 7' loan - Take advantage of the lower interest rates available with a 7/1 adjustable rate mortgage (ARM), when compared to a fixed-rate 30 year mortgage. The interest rate on a 7/1 ARM is fixed for seven years. In the eighth year the loan resets as an ARM. Just be sure you know what the margin, life cap and periodic caps will be beginning in the eighth year to avoid surprises. Use those seven years to reduce debit and increase your income in preparation for what is likely to be a much higher rate than your starting rate.

• Get pre-approved - Go beyond prequalifying for a mortgage, which only tells you what you can likely borrow. Get a pre-approved mortgage and you'll know your home price shopping parameters. You'll also present yourself to the seller as a serious buyer. Financing in hand will also help level the playing field with all-cash buyers and investors and it will help you negotiate a better purchase price. I CAN'T STRESS THIS ONE ENOUGH!

• Inspect everything - Get a home inspection for a new home, a resale home, a nearly new home or a very old home. Always. Just because it's new doesn't mean it's defect free. Hidden problems can torpedo the value of your home.

• Read the title report - Make sure that any new additions or construction to an existing home are fully permitted and recorded with the local municipality.

• Check the appraisal - Likewise check the appraisal report for any oversights, missed features or other errors that could cause the property to be undervalued.

• Negotiate - Don't be afraid to dicker. It's a buyers' market. Concessions are available from both new home builders and existing home sellers. Ask for help with the closing costs, repairs, even furnishings and other perks. Motivated sellers have much to offer.

• Don't skimp on the help - If you look for the least expensive attorney, real estate agent, inspector, etc., you will get what you pay for. Ask family, friends, co-workers, realty professionals and others you trust for referrals and then carefully vet them.

It's Gutter Time!

As the leaves are starting to fall right now, it's time to think about cleaning the rain gutters.

Debris from pine needles and leaves that collect in the rain gutter can lead to a fire hazard as well as block the rain gutter’s function, causing water to back up and potentially weaken the gutters and the home’s eaves. It can also create standing water which can lead to rot, mold, and mosquitoes.

Trying to clean gutters yourself can be quite dangerous. There are several deaths a year that were caused by falls from roofs or ladders while cleaning gutters.

There are some systems on the market that claim to keep the gutters free of debris and leaves. However, experts caution that in heavy rain storms sometimes certain products may malfunction by causing the leaves to dam up on the rain and prevent rain from entering the gutter too.

The bottom line? Use experts to safely clean your gutters. And even if you have gutter guards, don’t rely solely on them--have your gutters checked regularly.

A Common Investing Mistake...

Let's start with the first common investing mistake -- not understanding local market realities.

Not every property in every city is going to make money for you even if people are buying them for pennies on the dollar. Not every deal is a good deal. Pay attention to where the markets are going to continue to be better or continue to improve as opposed to continue to have problems.

When investing outside of your own local area, is it important to work with professionals you can trust to have your best interest at heart.

There is a difference between price and cost. The price can be right but the cost can be huge. There is a reason the price is right and it's because the property doesn't make any money.

If you can't find someone in another market who you can trust and you can rely on, then don't buy there unless you can go visit it for yourself. Know your market. Know where the good neighborhoods are. Drive through in the daytime and then drive through about ten o'clock at night. Take a look and see how it looks then. See what comes out from under the rocks and if you don't like the looks of what comes out, you don't want to buy there because it's going to be nothing but trouble. Know where the things are going to be improving, where they're going to build new shopping centers, freeway interchanges, new convention centers, hotels, etc. Find out the areas that are trending and capitalize on that.

Caution: Laptops May Result in Skin Burns...

A medical report says people who work with computers on their laps for long periods could suffer from "toasted skin syndrome."

In one case, a 12-year-old boy developed a sponge-patterned skin discoloration on his left thigh after playing computer games a few hours every day for several months. Ew.

The danger has been highlighted by Swiss researchers in an article Monday in the journal Pediatrics.

The condition is generally harmless but can cause permanent skin darkening. In very rare cases, it can cause damage leading to skin cancers.

They do not cite any skin cancer cases linked to laptop use, but suggest placing a carrying case or other heat shield under the computer. Or perhaps you can just wear some kevlar pants...

What You Need to Be Your Own Handyman...

Now that you have moved into your new home, it's time to put on a new hat, that of "handyman." For the big jobs, like roofing and rewiring, you'll more than likely still rely on a professional. And unless you are truly versed in those specialties, that is what we'd recommend!

But there will be many small jobs that come up which you will be able to fix on your own. To complete those jobs, you'll need tools.

So, what tools will you need as a new homeowner? Here is a list of suggestions:

1. A toolbox. Keep everything together and you'll never waste time hunting for the right tool.

2. Hammer. It seems basic enough, and it is. If for nothing else, you'll need it to hang all your artwork and pictures.

3. Level. From hanging pictures to framing a garage, a level is a must for any handyman.

4. Screw Driver. You'll need more than one! Be sure you have multiple sizes of both phillips-head and flat-blades.

5. Plyers. Have you ever tried to disconnect a fitting on a pipe? You need plyers.

6. Hand Saw. Many handymen prefer power tools, but for those remote spots with no electrical access, you can always count on a hand saw.

7. Tape Measure. How long does that new counter-top need to be? Do we have room for the couch to fit through the front door? Exactly. Use a tape measure... measure twice, cut once!

8. Wire cutters. For what else? To cut wires!

9. Cordless, Reversible Drill and Bits. Uh... for drilling and taking out screws.

10. Utility Knife. This is great for cutting exact edges.

11. Vice/clamps. Connect a vice to your workbench and use it to stabilize items you are cutting.

This is just a starter kit. There is a tool for practically every need, so over time, your tool box will grow considerably!

Becoming your own handyman is a learning process, so don't be too hard on yourself. There will be a lot of trial and error. That's half the fun. Enjoy your new home!