Some Summer Projects That Are Perfect for a Handyman

Summer is a season that can mean many different things. Young children look at summer as an escape from the prison of school for a few months. Families view the season as the time to take that long-awaited trip to Disney World or a tour of some of the nation's most breathtaking natural parks. Summer is the season for going to the beach, lounging by the pool, and for general relaxing. However, summer can also mean work as many tasks need to be done, especially around the house and yard. Homeowners can feel overwhelmed during the summer as they have to mind the children as well as tackle seasonal projects. Fortunately, hiring the experienced handymen at IncePector Handyman can take a lot of that pressure away. Here are some summer projects that are perfect for us to tackle for you.

One of the areas that see a lot of action during summer is the deck or patio. Such spots are the perfect place for family and friends to gather, especially while grilling some food. Yet decks and patios can become weathered over time and require maintenance. The wood in a deck can become rotten or warped, not to mention the possibility of handrails becoming loose or support posts weakening. Before using the deck as the neighborhood party spot, it behooves the responsible homeowner to contact the licensed professionals of IncePector Handyman to fully check out the deck or patio and affect any needed repairs. Perhaps all a deck needs is some minor work to smooth out the wood and re-finish it, while a patio may only need some power washing or some minor repairs. Our main goal is always to get your deck or patio ready for the summer season and ensure that every party and gathering will be safe and fun.

Another summer project that is great for a handyman to do is to tackle a home's ventilation. The season is known for days of glorious sunshine and less-than-glorious heat. Having a home's screens cleaned will ensure proper airflow, helping the house to stay nice and cool. Perhaps you have long desired to install screen doors in order to take advantage of cooling, natural breezes. The idyllic summer season is the perfect time to hire a handyman to check that project off the list. A comprehensive check on attic fans and whole house fans can be undertaken as well, or such features can be installed if desired. Whole house fans and attic fans help cut down on air conditioning costs while maintaining a pleasant temperature within the home. Why suffer in a sweltering attic, figuring out how to install such ventilation, when you can call the licensed pros at IncePector Handyman to do the job for you?

A couple of summer projects that impact the exterior of a house are gutter cleaning and power washing. The warm climate of summer is the perfect time to get such troublesome chores out of the way. The experienced personnel at IncePector Handyman are old hands with such tasks. Cleaning gutters is necessary to ensure that excess rainwater continues to be safely moved away from your home, but it can be a hassle. Even worse, quite a few people injure themselves every year by falling off their ladder while attempting to remove debris from their gutters. We are often called to do this job for older homeowners who are now physically unable to perform the task.

Power washing is a task that, while can be done throughout the year, is often performed in the summer by the skilled technicians at IncePectorHandyman. Your family will spend a great deal of time outside your home during the summer months, playing in a kiddie pool in the yard or having a barbecue on the back patio. Your family and guests will enjoy the clean and sparkling appearance of your deck, patio, driveway, and home after a thorough power wash. You can show off your pristine home while enjoying a neighborhood cookout or family gathering. Even better is that you didn't have to do it yourself!

A perfect summer project for you to contact IncePector Handyman about is replacing outside faucets (also known as silcocks). Your outdoor faucets will see a ton of use during summer as the kids' pool will need to be filled up or to set up a sprinkler for the children to run through. These outdoor faucets can take a lot of abuse, either from things banging into them or the harsh Denver winter. It's always worthwhile to have our licensed professionals ascertain the condition of your outdoor faucet so as to nip in the bud any possible problems that may arise from a leaking pipe or joint. We'll make sure that your outdoor spigots are ready for all the watery fun that the summer season requires.

The last summer project for a handyman on our list is painting and staining. Summer is the perfect time to paint or stain the interior and exterior of your home, including any decks, porches, garages, sheds, and patios. Summer allows the home to be fully opened up to take advantage of any breezes while any interior painting or staining is being done. The absolute best time for any such work is while the homeowner is off on a family vacation. We can keep them fully aware of the progress being achieved, and the family can return to a home that has been rejuvenated.

As you can see, there are a lot of summer projects that are perfect for a handyman to tackle. From fixing the deck to maintaining/upgrading the home's ventilation, the fully licensed and insured professionals at IncePector Handyman can help make your summer something truly memorable. Why attempt such tiresome projects yourself? The summer is meant for relaxation, so call us to make sure your home is ready for everything summer has to offer.

Having and Following a Budget is Essential for Buying Real Estate

 One of the biggest decisions in a person's life is whether or not to buy a home. It's becoming increasingly common in today's economy for people to rent instead of buying. In fact, home ownership in the United States fell to a twenty year low back in the fourth quarter of 2014 with a rate of only 63.9%. (1) Still, the average person dreams of buying a home of their own, and many people desire to be able to purchase a second home. One area that sees a lot of vacation home interest is Breckenridge, Colorado. The quaint resort town of 4,500 residents swells dramatically in population during the tourist seasons. (2) Experienced real estate professionals, such as Ron Shelton of Breckenridge Associates Real Estate, know that having and following a proper budget is essential for buying real estate. The principles are the same for a person buying a vacation property as they are for one looking to buy their first home.

The very first facet of creating a proper budget is for a person to know their credit rating. There are multiple places where one can check their credit score, and the actual credit rating will have a significant impact upon the loan that one can get. A professional Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, knows that an individual needs a credit score of 580 or higher to qualify for a FHA loan with a down payment of 3.5%. Conversely, those who have a credit rating from 500 to 579 will need to make a down payment of at least 10% of the property's value, and those with a credit rating of less than 500 are usually unable to secure a FHA loan. (3) Right away, one can see that a person's credit score has a major impact upon the ability to purchase a home, and this impact continues onward to other areas as well.

The amount of the down payment is another key part of creating a budget. One thing that many prospective homeowners fail to research are hidden costs. One aspect of securing a loan that is often overlooked is private mortgage insurance (PMI). If a person makes a down payment of less than 20%, then the lender will require the acquisition of PMI to protect the lender from losing money if the home ends up in foreclosure. The rate for a PMI can vary, depending upon the down payment and the individual's credit score. Usually, the PMI averages between 0.3% to 1.5% of the original loan amount per year, which can add a sizable chunk to one's expenses. However, having to keep a PMI is not a sure thing. Licensed Realtors, such as Ron Shelton of Breckenridge Associates Real Estate, can inform prospective homeowners that the PMI is automatically cancelled when the loan balance drops to 78% of the home's value, and one can ask the loan lender to drop the PMI requirement when the loan balance drops to 80% of the home's value. (4)

As for creating a budget to purchase a home, a Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, will remind their clients of the basic rules of home affordability. It's considered standard that the maximum mortgage payment that one makes not exceed 28% of one's gross monthly income. The second rule is that the total housing payment (mortgage, property tax, PMI, home association fees, and homeowner's insurance) not exceed 32% of one's gross monthly income. The third and final rule is that a person's monthly debt payments (credit cards, car payments, student loans, etc.) not exceed 40% of one's gross monthly income. (5) With these numbers, one can sit down and begin crunching the numbers. A proper budget considers every aspect of a person's life, such as food, clothing, entertainment, utilities, travel, and every other expense that normally crop up. Once all the numbers are plainly listed, one can then figure out the monthly mortgage payment that can be afforded. Numbers do not lie, so one may realize that they have to cut expenses in order to afford the home that they wish. Creating a budget may show that waiting a year to accumulate enough cash to make a larger down payment will save a great deal of money over the course of the loan.

Realtor Ron Shelton of Breckenridge Associates Real Estate notes, "Having a budget is crucial in determining if one can afford to buy a home. Total honesty is needed when crafting a budget, and everything has to be included, from groceries to enjoying happy hour at the local bar. Knowing one's current credit rating is also key as it impacts the type of loan and interest rate that one can get. The good news is that a person can raise their credit score by making regular payments and reducing their debts. A proper budget will spell out how much one can afford to pay for a monthly mortgage, and we have an in-office calculator to help our clients crunch the numbers. We can also highlight some hidden expenses as well as remind people to budget for unforeseen things, such as appliance repairs. If a person sits down and draws out a detailed and comprehensive budget, then they will know exactly how much real estate that they can afford and what type of loan to shoot for. There's nothing like having a solid budget for peace of mind when looking to purchase a home." (6)

As one can see, having a solid budget is a necessity when deciding to purchase a home. A budget will show how much one can afford to pay for a monthly mortgage, as well as showing areas that may need to be cut back a bit. While many people are loath to honestly look at their living expenses, an honest budget can be one's biggest ally when deciding on whether or not to buy a home. A true budget will show the strengths or weaknesses of one's personal finances, which can then lead to some needed changes taking place. In the end, a budget will provide one with all the information that they need on whether they can afford to purchase a home or not.

References:

1) http://realtormag.realtor.org/daily-news/2015/01/30/home-ownership-rate-falls-20-year-low

2) http://www.townofbreckenridge.com/index.aspx?page=368

3) http://www.bankrate.com/finance/mortgages/7-crucial-facts-about-fha-loans-2.aspx

4) http://www.bankrate.com/finance/mortgages/the-basics-of-private-mortgage-insurance-pmi.aspx

5) http://www.moneyunder30.com/how-much-house-can-you-afford

6) Quote from Realtor Ron Shelton of Breckenridge AssociatesReal Estate

How a Vacation Home in Breckenridge Can Put Money in Your Pocket

Going on a luxurious vacation to a resort area is usually one of the highlights of the year for many individuals. Areas such as Breckenridge, Colorado, attract hordes of visitors every year to ski the slopes during winter and to go horseback riding and fishing during the summer. Those people who regularly visit the same place from year to year often decide to purchase a vacation home. Such a residence affords a guaranteed place to stay, even during the height of the tourist season. Yet there is another benefit to owning a vacation home that knowledgeable Realtors, such as Ron Shelton of BreckenridgeAssociates Real Estate, know quite well: one can put money in their pocket by using their vacation home.

The method of earning money through a vacation home is by renting it out. Many homeowners find this makes perfect sense as they often only use the vacation home a few weeks out of the year, which means that it stands vacant the rest of the time. There are some important considerations to go over when deciding to purchase a vacation home that will be rented out. The first is to make sure that the area where the vacation home is located draws a sufficient amount of visitors every year. This is where an experienced Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, can help by providing useful data. The snug town of Breckenridge, Colorado, is one such spot where tourists flock. The town boasts 11 lodges and a total of 1,802 second homes, so there is a definite demand. (1) Another positive indicator for the town is that the population swells from 4,500 residents to over 39,000 during peak seasons. (2)

Another consideration when deciding to rent out a vacation home is whether to rent it out for the short term or long term. Both practices have their own benefits and drawbacks, such as renting a vacation home by the week can generate two to three times the money than renting it for several months at a time. (3) The drawback to short term rentals is that associated costs are higher, such as minor repairs and small touchups whenever the renter leaves. Talking to a local Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, can help one decide on the appropriate rental strategy for maximum revenue. Of course, the most important factor in all of this is having a paying tenant in place.

The owner of a vacation home has to be aware of local laws and potential negative situations. This is why sitting down with an experienced Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, is vital to learn the lay of the land. All of the local taxes, fees, and laws have to be adhered to. An important criteria is whether the vacation home is under the jurisdiction of a homeowner's association and whether the rules of the HOA allow a home to be rented out. A Realtor can also warn a potential buyer of impending construction or other projects that could negatively impact the potential revenue of the vacation home. Practically no one wants to rent a vacation home that's next to a loud work site.

If one wishes to make money by renting out their vacation home, they have to be pragmatic when buying the property in the first place. One should check out the current mortgage rates to decide if it's the right time to buy. The current rate for a 30-year fixed-rate mortgage is rather low, sitting at 4.28%. (4) A common sense approach to purchasing a vacation home in the first place is making sure that one can afford it. A person should not assume that the home will be constantly rented out. However, many people do make such assumptions. A 2010 study by the National Association of Realtors found that seven out of ten second home buyers said that rental income influenced their decision to buy. (5) One should go over all the numbers with a seasoned Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, to make sure that one has the means to pay for the vacation home. Renting out a vacation home should provide a welcome financial boost to the homeowner, but they should not depend upon such revenue for the regular mortgage payments.

Realtor Ron Shelton of Breckenridge Associates Real Estate says, "A vacation home is not only a great idea for having a guaranteed place to stay while visiting, but it can also be a great investment by bringing in rental revenue. Of course, having some rental income is just one part of what makes a second home, or resort rental, an investment. The most rewarding aspect of owning a second home is obviously the personal use one gets out of it. While a vacation home is a second home, one should buy the property with as much prudence as they would with their primary home. Breckenridge is a great place for renting out a vacation home as visitors come throughout the year to enjoy our natural beauty and outdoor activities. We're quite happy to sit down and crunch the numbers to figure out some rental projections. One important factor in owning a vacation home is that of capital appreciation. Historically, the market value of resort properties have outpaced inflation, and most other investments, over the long run. We also help our clients out by recommending trustworthy managers and service people that are local, which is often a necessity as most homeowners are out-of-state. If you only use a vacation home a few weeks out of the year, it makes tremendous sense to rent it out while you're not using it. An empty home still costs money on a regular basis due to mortgage payments, property taxes, and other associated fees. Why not generate some cash and put it into your pocket while you're not using the home?" (6)

A vacation home can serve as more than just a place to crash once or twice a year. A lot of revenue can be raised by renting it out to others while the owner isn't using it. However, there are a lot of items to be considered on buying and then renting out a vacation home. One should sit down and talk to an experienced Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, to learn if there's rental potential for a vacation home in the local area. It's always wise to remember that any home is an investment, so it makes perfect sense to put that investment to work. In the end, a vacation home that generates short term or year-round rental income is a worthy wealth-building tool, which is just icing on the cake as such a home is also a wonderful place to make lifelong memories with one's friends and family.

References:

1) http://www.gobreck.com/the-town/facts-and-stats

2) http://www.townofbreckenridge.com/live/living-in-breckenridge

3) https://www.landlordology.com/long-term-rental-vacation-home/

4) http://www.cnbc.com/2017/04/12/mortgage-applications-rise-as-interest-rates-fall-to-2017-low.html

5) http://www.foxbusiness.com/features/2011/09/14/how-to-safely-make-money-on-short-term-rentals.html

6) Quote from realtor Ron Shelton of Breckenridge AssociatesReal Estate

Whopper Alert!

Take a gander at these two whoppers we caught yesterday! Truth be told, they’re all coming up large…and we know where they’re hanging. So give us a call today and let us take you to the stash! You’ll be happy you did! 

bigedsfishing.com

Strong Economic Forecast Means Now is a Great Time to Buy a Vacation Home

Many people have opted over the years to buy a vacation home in resort areas, such as Breckenridge, Colorado. Some of the reasons cited is to ensure that they have a place to stay and not worry about booking shortages, having a greater measure of privacy, and the ability to generate revenue when they're not using the vacation home by renting it out. A lot of factors go into deciding to purchase a second home for recreational purposes, and one of the main factors is economics. Realtors, such as Ron Shelton of Breckenridge Associates Real Estate, know that many individuals have taken advantage of the historic low rates for mortgages over the last few years and pulled the trigger on buying that second home. However, it appears that the policies of the new administration may impact future interest rates. The strong economic forecast means that now is a great time to buy a vacation home.

Buying a vacation home in the quaint resort town of Breckenridge, Colorado, has been a popular option for visitors, especially in light of how the town's population swells from 4,500 full-time residents to a daily count of over 39,000 during the season. (1) Such a massive influx of visitors means that space is at a premium. Those looking to buy a vacation home for the last decade were in luck due to the incredibly low interest rates being offered in order to bolster the economy after the recent recession. Since 2008, the interest rate from the Federal Reserve has been effectively under one percent, which is a far cry from 2000 when it was over five percent. This has greatly impacted mortgage rates as the average thirty-year fixed mortgage loan rate was 4.17% in 2014, which then dropped to 3.85% in 2015 and then down to 3.57% in 2016. (2) A very low home mortgage rate means that the homeowner would save quite a bit of money over the life of the loan, which is why experienced Realtors, such as Ron Shelton of Breckenridge Associates Real Estate, recommended that people take advantage of those rates while they were still historically low.

However, it does appear that interest rates will soon go up a bit due to the economic policies of the new administration. A reduction in corporate tax rates as well as regulations can mean a surge in business activity. In fact, the Deutsche Bank forecasts that the GDP for the United States could actually double in 2017 and beyond, hitting 2.4% in 2017 and then 3.6% in 2018. This rate of GDP is a marked improvement from the moribund average 1.6% GDP of the previous administration. (3) Other groups are predicting somewhat smaller increases in the US GDP, with Tradingeconomics.com predicting a 2.5% GDP growth in the first quarter of 2017 and then a 2% GDP growth in the third quarter of 2017. (4) While the actual rate varies from group to group, the consensus is that GDP will be more robust in the next few years due to the economic policies of the current administration. This means that the Federal Reserve will bump up the interest rate, which will then impact mortgage loans. Kiplinger believes that the average thirty-year fixed-rate mortgage will rise up to 4.6% by the end of 2017 and that the fifteen-year fixed-rate mortgage will rise up to 3.8% as well. (5) Any licensed Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, will inform their clients that a higher rate means having to pay more over the life of the loan.

This expected rise in interest rates has not occurred yet, which means that now may be the perfect time to go ahead and buy that vacation home. Choosing to act now and secure a fifteen or thirty-year fixed mortgage for a luxury second home can mean saving hundreds of thousands of dollars. Compounding the issue of choosing now to buy a vacation home is that there is currently a surplus of properties for sale. Any experienced Realtor, such as Ron Shelton of Breckenridge Associates Real Estate, will know that prices dip when supply overtakes demand. CNBC has reported that sales of luxury real estate dropped by double-digit percentages in the last quarter of 2016 for the Hamptons, Aspen, and Los Angeles. The overall supply of $1 million or more homes rose one percent in the fourth quarter of 2016 and the number of $5 million or more homes rose by a full fifteen percent. (6) Zillow shows that there are currently 78 homes for sale that are a million dollars or more in Breckenridge. (7)

Realtor Ron Shelton of BreckenridgePropertiesForSale.com says, "Now may be the perfect time to finally decide on buying the vacation home you've been dreaming of in Breckenridge, Colorado. All the economic indicators are pointing to several increases in interest rates over the next year, which will then bump up both fifteen and thirty-year fixed mortgage rates. Even the smallest increase can mean a significant amount of money over the life of the mortgage, so it makes sense to take advantage of the still historically low interest rates available. The recent increase in luxury properties also lends itself to buying now where current owners are more likely to negotiate in order to sell. We can sit down with any client and crunch the numbers, showing the difference between getting a fixed-rate mortgage now and getting one later in the year." (8)

The factors of expected interest rate increases, higher GDP, and a surplus of luxury properties mean that now is a great time to sign the dotted line and purchase a vacation home. The possible savings over a fifteen or thirty-year period can be quite extensive, which makes it very worthwhile to consult a licensed Realtor, such as Ron Shelton of BreckenridgePropertiesForSale.com, and figure out the best option to follow.

References:

1) http://www.townofbreckenridge.com/live/living-in-breckenridge

2) https://www.gobankingrates.com/banking/interest-rate-projections-best-rates-today/

3) http://www.cnbc.com/2017/01/09/donald-trump-plans-will-double-gdp-growth-by-2018-deutsche-bank-says.html

4) http://www.tradingeconomics.com/united-states/gdp-growth/forecast

5) http://www.kiplinger.com/article/business/T019-C000-S010-interest-rate-forecast.html

6) http://www.cnbc.com/2017/01/26/luxury-home-sales-continued-to-slump-in-the-fourth-quarter.html