HOME IMPROVEMENT PROJECTS FOR UNDER $500

These home improvement projects may not be the most expensive, but it doesn't make them less important. Often, projects that cost less than $500 involve work that maintains and protects a larger home system worth tens of thousands of dollars. Unfortunately, these projects are also the ones that are most commonly neglected by homeowners, who imagine that they have plenty of time to get things done. Don't assume that inexpensive projects lack urgency.

Here are our top picks for home improvement projects under $500:


Cleaning Services

You might think that you've done everything when you check off your spring cleaning list, but few people have the time and means to complete a truly comprehensive housecleaning schedule. While homeowners may be hard-wired to focus on dusting and interior surface cleaning, no component of housecleaning should be left unattended.

• Clean chimney or fireplace ($250-$350). The cleaning task most likely to get left off your list, chimney sweeping will prevent lethal, creosote-burning fires.

• Window cleaning ($200-$250). If you have easy-clean windows, go for it. Otherwise, use the pros to avoid injuries that can result from exterior window cleaning.

• Carpet cleaning ($200-$250). Rented carpet cleaning machines don't have the high- pressure steam needed to do this job right.

• Gutter cleaning ($150-$250). It takes more than throwing leaves down from a ladder to clean gutters. Pros will flush out downspouts and inspect the entire gutter system.

• Maid service ($150-$200). Whether you need help finishing a spring cleaning list or with weekly chores, a housekeeping service can give you time for other home projects.

Find a local expert contractor who has been pre-screened by ServiceMagic

Home Repairs

One of the frustrating parts of homeownership is the consistent costs of basic home repairs. Renovations add something new, but repairs only return the home to its previous condition. While cleaning is as inevitable as it is expected, the need for repairs often occurs suddenly and, it seems, at the worst possible time. But you do yourself no favors by postponing these repairs.

• Furnace or A/C repair ($300-$375). If you know something is ailing your system, you may get a discount if you call the pros during the off-season.


• Repair faucets, fixtures or pipes ($300-$400). No plumbing problem is minor. Leaks can cost you real money, needlessly waste water and create even bigger problems. (Find highly rated professional plumbers in your area.)

• Garage door repair ($225-300). Don't underestimate the urgency of this repair. Between energy costs and home security, a working garage door is a must.

• Carpet repair ($200-$300). Many homeowners leave carpet stains and burns on their carpet for years. Usually cut-and-plug carpet repairs are easier than you fear. (Find highly rated professional carpenters in your area.)

• Hire a handyman-$400-$500. If you have more than one simple home repair, hiring a handyman for the day is usually the most cost-effective and timely solution. (Find highly rated handymen in your area.)

Small Projects

Compared to fifty-grand kitchen remodels and bathroom additions, it's hard to imagine a $500 budget is enough to enhance the look or function of your home. But homeowners don't realize just how many small, around-the-house projects there are. This list is far from comprehensive, but it does include some classic home projects and a few, new tasks that are catching homeowners' attention.

• Install a TV wall mount ($350-$450). Don't worry that the otherwise perfect HDTV doesn't have the right mount. The pros can build you a custom wall mount.

• Install concealed wiring for home theater ($300-$400). You shouldn't have to look at unwieldy wires when you can hire a professional to hide them.

• Install garage door opener ($300-$400). With added convenience, better security and less noise, automatic openers have become a staple in U.S. homes.

• Install ceiling fan ($300-$400). This tried-and-true energy-saver still has teeth. Look for one that's properly designed for your needs and properly sized for your room.

• Install electrical switches, outlets or fixtures ($300-$400). You may need to take a look around the house to realize how much you can benefit from moving switches and adding outlets.

(Find highly rated professional general contractors in your area.)



*courtesy of AOL real estate

BEAUTIFUL FALL FOLIAGE HOT SPOTS IN PORTLAND

Bird watchers and weather reporters, step aside.

Fall colors are peaking around Oregon, and Travel Lane County is tracking the best areas of vibrant foliage for the public to enjoy. Biologists, forest rangers, and “leaf peepers” have teamed up with Travel Lane to maintain the Oregon Fall Foliage blog and this beautiful Instagram feed throughout the season.

You can become a “leaf peeper” too! Between September and November, tip off the team at the Oregon Fall Foliage Hotline with the latest foliage updates.

1 (800) 547-5445 (Monday–Friday, 8am–5pm and weekends, 10am–6pm)

Tripsters can skim this list for the latest and greatest of the most stunning foliage throughout the state:

• Meander along the Mt. Hood Scenic Byway and enjoy the meadows, timbered slopes, and arrive in orchard haven in Hood River Valley (apple orchards, anyone?). Make a pit stop in the cozy town of Hood River, and then wind along the Historic Columbia River Gorge Scenic Highway to see the vibrant deciduous trees against native firs.
• Crystal-clear water meets colorful foliage at Crater Lake. Vibrant aspen trees are blushing throughout the area, while the water reflects the red glow of the flora waterline.
• Headed southwest? Twist along the Rogue River through Grants Pass and soak up towering horizons that are burning with layers of color.
• Head south along I-5, where golden and red-toned maples line the 60-miles of the McKenzie River. Travelers can get another nature fix in Eugene along the Willamette River via the Ruth Bascom Riverbank Trail System. Stroll, jog, bike – or simply swim in the array of fall foliage

*courtesy of Portland Monthly Magazine

'TIS THE SEASON TO SHOP FOR A NEW HOME!

Is the housing market still seasonal? The market has been so up and down recently that the answer can depend on whom you ask, and the market that you're talking about. But, historically, residential real estate sees a lull in the winter holiday season and beginning of the new year -- when everyone seems a bit crunched for time, not to mention money. And in most markets it doesn't pick up again until the end of January. There's a reason that data on home prices, mortgage rates, etc., are "seasonally adjusted."

There are compelling signs, though, that as 2013 winds to a close, serious home shoppers should ignore this convention and instead turn it to their advantage. Here are key things that prospective homebuyers might want to consider before putting their quest on winter hiatus.

Mortgage rates have fallen: Primary among the reasons to move now has been the fluctuation in mortgage rates. After having taken a sharp bump up in the late spring, as the housing market re-energized and demand for mortgages surged, mortgage rates have dropped for the second straight week. And at an average of 4.10 percent for a 30-year-fixed loan, they're at their lowest in six months. It might be true true that with the Federal Reserve apparently committed for the near term to keep interest rates low by buying bonds, that borrowers have some wiggle room. But there are other reasons not to delay.

The ceiling will drop on loan amounts: If you're seeking a government-backed mortgage -- as most mortgages are -- you're already restricted to getting a loan that's based on the median home prices in your desired area ($417,000 in most housing markets). And the acting head of the Federal Housing Finance Agency, Edward DeMarco, has announced that these limits will go lower next year. While DeMarco assured the public in October that the change wouldn't be sudden, and that financial markets would have at least six months to adjust, why would you want to wait until then? Home prices in the U.S., meanwhile, have continued to rise.

Loans might be tougher to qualify for, or at least require more paperwork: Starting in January 2014, in order to get a "qualified mortgage" -- a loan that's insured by the Federal Housing Administration, prospective homebuyers will have to make a stronger case for their credit-worthiness. Along with documents spelling out the terms of the loan, mortgage seekers will be supplying proof of current income and assets, credit history, and other debts. And then they'll have to prove that the annual amount of debt they carry is no more than 43 percent of annual income. The changes, required under the Dodd-Frank Wall Street Reform and Consumer Protection Act, also mandate that the loans carry a fixed-rate and be paid over a term not longer than 30 years.

Investors appear to have taken a breather: Those real estate speculators who were driving up housing prices, and swooping in to snatch away the bargains by making higher bids and cash offers, now seem less smitten with the residential market. A recent poll of investors found that only around 1 in 5 are still interested in buying more homes -- about half the number from a year ago. That means less competition.

Average homebuyers seem discouraged: Speaking of the competition, applications for new mortgages have been ebbing in recent months, along with consumer confidence. That should improve the chances of those willing to stay in the hunt, even if it means slogging through the winter weather.

Sellers might be more motivated: Just as it can show a bit more commitment to shop for a home in November and December, the same might be said for sellers, especially those who might be seeking a tax advantage by selling before the year is out, or who have grown impatient after seeing their properties fail to sell during the market's peak season.

What better time to see a home?: Sure, it might be a little tough to judge a house's curb appeal through the gloom and slush of late autumn and early winter, not to mention under the holiday lights and tinsel. But what better time to see what a home can stand up to?

It's true that there are some key areas that probably can't be inspected or tested if it's cold or snow is on the ground, such as air conditioning units (which could be damaged in operated at temperatures below 60 degrees) and in-ground sprinklers. On the other hand, it's a prime time to see how the heater works and how well-insulated the home is. Some other things that might be much more evident include: roof leaks, a basement that floods, pipes that freeze, and inadequate lighting. And how easy is it to get to and from the property during bad weather? If it's in a rural area, are you likely to get snowed in, see a road washed out or be trapped by a mudslide?

And as for those uninspectable areas: If you can't wait until the weather warms to have those checked, explore a contingency built into the contract that takes care of any possible repairs.


*courtesy of AOL real estate

5 THINGS ALL HOMEBUYERS SHOULD KNOW

A house is the biggest asset that the majority of Americans will ever own. But while most of us delude ourselves into thinking that we actually know something about real estate, the truth is that few of us have any idea what we're talking about.
It's for this reason that I solicited the advice of several highly respected real estate professionals to help our readers navigate the process of both buying and selling their homes. What follows, in turn, are five things that most homebuyers should know, but don't.

1. When you buy a home, you're making two purchases
Of all the advice that I came across, this was probably the most insightful: "When you buy a home, you actually are making two purchases," Dave Ness of Denver's Thrive Real Estate Group told me. "You are buying the home, and you are buying the money to buy the home."
It's tempting for homeowners to think of a mortgage as an incidental expense. But the reality is that the loan itself may be the most significant piece of the transaction.
"For every 1% rise in interest rates, home prices must fall by 10% in order for you to maintain the same monthly mortgage payment," Ness says. "And at the end of the day, that's what matters, the monthly payment. So take advantage of low rates; they add much more buying power to your purchase than low prices."
2. Homes are like people -- they all have problems
This was a point multiple real estate professionals that I spoke with made. "All houses have issues," Hilary Bourassa of Portland's Oregon First Real Estate told me. "Some just have more than others."
The shock generally comes when prospective buyers get their inspection reports back. "Inspectors are professional pessimists, which is why we love them," Bourassa said. "But many issues only require simple and/or inexpensive fixes."
Along the same lines, Ness analogized the experience to "when someone knocks over the DJ table at a wedding and the music stops." All of a sudden, the bliss from going under contract goes away.
"Most inspection reports will be 40 to 50 pages long, and most inspectors will take close-up, HD photos of problems," Ness went on to note. "So while the actual listing shows gorgeous pictures of granite countertops, the inspection report will show awful pictures of a cracked driveway. By the end of the report you'll be thinking, 'This house is a total and complete lemon.'"
3. Your real estate agent is a partner, not a salesman
My industry sources were obviously biased on this point, but there's a lot of truth to what they said.
"Your Realtor should be focused on helping you find a great property, not selling you something," Bourassa advises. Before settling on one, she urges homebuyers to "interview at least a few in order to find the fight match."
The flipside of the coin is that you, too, are a partner in the relationship. And that means knowing and respecting the boundaries.
"Sometimes clients forget (particularly first-time buyers) that Realtors have other clients and lives outside of work," Ness says. The key is to make sure that both parties have a clear understanding of communication expectations.
"What is their normal response time? How much lead time do they need to arrange showings? What medium of communication is best -- text, call, email, or something else?" These are the types of questions that Ness encourages homebuyers and real estate agents to settle at the outset.
4. HGTV does not resemble reality
My wife and I love to watch cooking shows. We've watched so many, in fact, that we've deceived ourselves into believing that we could actually compete on them. Of course, given the opportunity, we would most certainly -- and I do mean "most certainly" -- crash and burn in the most humiliating fashion.
And the same can be said about the proliferation of "realty" television shows on real estate -- think HouseHunters, Flip That House, Holmes on Homes, Property Virgins, and Property Brothers, among others.
"The reality is, hundreds of hours or footage is shot and edited down to a 16-minute show (when you take out the Lowe's commercials)," Ness pointed out. "Yes, they're real buyers, but you don't see the half of it. So don't think you're going to waltz into your market and find the perfect house right away, beat out all the other offers, and then walk into the sunset with your significant other. Finding a home can be tough, and take time."
Ness' advice? "Gear up for the homebuying process. It's worth it, but it ain't Hollywood!"
5. Always think about resale
This final piece is something that all people buying assets should always keep in mind: At some point you're going to resell it and will want to maximize what you eventually get.
"When you're buying your home, you're probably not thinking of the day that you will have to sell it," Bourassa said, "but you will be thanking yourself one day if you remember three little things ... location, location, location!"
The bottom line
Most if not all of us will buy at least one house in our lives. With that in mind, you should save yourself the trouble of making the same mistakes that most of your peers will. Take these five pieces of information into consideration. You'll be doing yourself a favor if you do.

*courtesy of dailyfinance.com

PORTLAND, OREGON IS THE BEST CITY FOR MOVIE LOVERS!

It's no secret that Portland is a vibrant market for independent film. But trying to calculate just how strong a market that is, or how the movie scene here compares to other cities, has long been a matter of fierce debate.
Well, the folks at the Movoto real estate just took a crack at trying to answer that debate once and for all. They collected per-capita movie data for 100 cities, including number of movie theaters, indie theaters, video stores, drive-ins, film festivals, and more, then ranked each city from 1-100. Per Movoto:

The results were then totaled, averaged, ranked, weighed (more weight was given to number of specialty theaters, for example), then stuck in a super-secret envelope, delivered to Movoto headquarters by a guarded car, and read aloud from behind a podium to an office with bated breath.

Guess who came out on top? Oh that's right, you probably read the headline. According to Movoto, the Rose City is the No. 1 city for movie lovers in the U.S., besting San Francisco, Seattle, New York and even Los Angeles, which somehow didn't crack the top 10 (and casting a suspicious light on the whole process).
Here's what Movoto had to say about PDX:

When it was all shot, edited, spliced up, and pieced back together, the clear winner for Best City for Movie Lovers was Portland, OR. It has five film fests per year, a film museum, multiple film societies, tons of movie theaters, indie theaters, a drive-in theater, and is even home to the unique Kennedy School movie theater.

It's unclear what makes Kennedy School's screen more notable than, say, Cinema 21, St. Johns Cinema, Hollywood Theater, Living Room Theaters or any of the other great indie theaters in Portland and beyond. (I do know that if Movoto decided to next rank the quality of movie theater draft beer, Portland would definitely come out on top again.)

 

 

 

*courtesy of The Oregonian

MISTAKES TO AVOID FOR FIRST TIME HOMEBUYERS

Buying a home can be both exciting and overwhelming for the first-time homebuyer. If you've decided to take the plunge into home ownership and have already started the search process, make sure you're not making some common first-time homebuyer mistakes.
Your upcoming investment could end up being a bad decision if you overlook some important facts about home ownership and sign that contract before you're really ready.
Here are five mistakes first time homebuyers need to avoid:

1. Searching for the dream home before getting prequalified for a loan. Save yourself the disappointment of not being able to afford the home of your dreams by getting prequalified for your loan before you start house hunting. Instead of picking out a price range and searching listings, take the time to talk to a lender about how much house you can realistically afford and what the monthly payment breakdown – with all taxes and other fees included – will be. The amount you are preapproved for will help you create a realistic budget for your home search.
2. Delaying the buying process in hopes of a better rate. Mike Schenk, vice president of economics and statistics at the Credit Union National Association, points out that adjustable rates are now at rock bottom at about 3 percent. If you really are ready to make the commitment for home ownership, talk to a lender about securing a loan at an adjustable rate instead of a fixed rate.
3. Thinking short term. It's easy to get carried away with that new home search and overlook some important information about the neighborhood you would move to, future developments in the area and the resale value of your home. As a first-time homebuyer, the idea of selling your home in the near future probably isn't at the top of the priority list, but it should be. "Buy that first house with the idea that you can resell it with some ease should your plans change in five years," says Mike Bacsi, senior mortgage loan officer and assistant vice president at Johnson Bank. "Hold off on buying the super charming or quirky house until you are financially established and can afford the charm."
You also need to think about the long-term effects of your decision to buy that home. If the neighborhood is undergoing any type of redevelopment phase, the value of your home could increase in the near future. If you end up buying an older home in hopes it will appreciate in value, keep in mind that your investment could be a risky one.
4. Making an emotional decision. While the right home for you is a matter of personal preference and affordability, you need to separate your emotions from the decision before signing the contract. Turning a blind eye on that moldy basement or creaky floorboards because you're enamored with the architectural style of the house can lead to financial troubles in the future. You want to make sure you're investing in a home that will offer you a good return on your investment and ideally has a good resale value.
Take the time to run the numbers, create a pro and con list of each property and use an objective approach for your homebuying decision. Remember that even realtors and homeowners selling a home on their own will be pitching their property to prospective buyers using all types of marketing strategies. Keep an open mind, but also do your homework to make sure you're investing in a home that you can be happy with for years to come.
5. Overlooking hidden costs. In addition to that monthly mortgage payment, you need to consider the cost of home maintenance, utilities and property taxes. If you are buying an older home, you may end up needing money to cover the cost of repairs and renovations. While the selling price can give you a fair idea of what you will be investing for your home, you also need to look at all of the extra costs required to maintain your home and cover property taxes.
Your lender or realtor may not necessarily be the best source for this type of information, so start researching costs on your own. Turn to a home inspector for a list of existing or potential problems that may need to be taken care of in the near future. Consider getting quotes from renovation specialists or builders in the area to price out potential updates and home improvement projects. Also, don't overlook moving costs and extra furniture you might have to purchase to furnish a larger living space.



*courtesy of USNews.com

THE 10 PERCENT DOWN PAYMENT IS BACK!

Remember the 10 percent down payment on a house? After virtually disappearing for years, it's back.

Around the country, some lenders are offering 90 percent financing again on all loan types. For example, San Francisco-based RPM Mortgage resumed offering "piggyback" loans in the first quarter of 2013 after discontinuing them during the height of the credit crisis in late 2007, according to Vice President Julian Hebron. (A piggyback loan enables a home buyer to put only 10 percent down without having to buy mortgage insurance. This is done by getting two loans totaling 90 percent.) MS.ads.drawAd('cau'); Related Articles You Can Live in One of American's 5 Safest Cities Why Investing in Real Estate is a Good Play: Stockpick Whiz Kid The Massive Rent Increases Are Going to Keep Coming Renting? Get the Biggest Bang for Your Buck in These Cities You Can Move to America's 5 Most Saintly Cities.
In Monroe, NY, Rosalie Cook of Weichert Realtors says she is seeing buyer down payments range from all cash to as little as 5 percent. Mortgage lender Tom Gildea of Prospect Lending in Rockland County, NY agrees, saying that he's doing loans with as little as 5 percent down "all day long." Those 5 percent down deals are with private mortgage insurance, are only for conforming loans (less than $417,000) and are reserved for borrowers with excellent credit, verifiable income and little debt.

Mortgages used to be easy
Before the credit crisis of the mid-2000s, getting a home loan was simple. Your down payment was small — if you even had to make one. To qualify, all you had to do was "state" your income and sign on the dotted line.
Of course, that was the kind of lending that got us into the credit crisis. After the bust, many lenders started requiring a minimum of 20 percent down. Coming up with that much money was a stumbling block for many would-be home buyers. In addition, buyers were already worried about the economy or were uncertain about their jobs, making buying a home not only difficult but also downright scary.
The result: Even though home prices had plummeted and mortgage rates were at historic lows, many potential buyers were forced to sit on the sidelines for years.
Today, many real estate markets around the country are heating up again. While the economic recovery still has its fits and starts, people are feeling confident about their jobs. They're watching their 401(k) and stock portfolios climb back to pre-2008 levels. And so, they're out looking for homes to buy again.

Lenders have loosened up but are still cautious

Mortgage lenders are seeing these trends, too, which is why they're starting to ease down payment restrictions. This time around, though, lenders are much more discerning about who gets to put 10 percent down. As RPM Mortgage's Hebron puts it: To qualify, your monthly housing, car, student loan, and credit card debt can't be higher than 45 percent of your monthly income. And you must have a credit score above 700.
The good news is that more potential buyers who otherwise would have been shut out of the market, due to the lack of a 20 percent down payment, can now jump in.

Leveraging cheap money
Even if you have the 20 percent to put down, you might consider opting for a 10 percent down payment instead. For instance, if you're buying a home that needs a lot of work, you could put 10 percent down and use the other 10 percent to finance improvements. You might even consider investing that 10 percent in stocks or mutual funds, though that comes with obvious risks.
A 10 percent down payment has its disadvantages, too. If you put just 10 percent down and home prices decline later, you could end up underwater — owing more on the mortgage than your home is worth. When that happens, you could be stuck in your home, unable to sell — just as so many homeowners were after the housing crisis kicked in around 2006-2007.
Also, if you have little equity and you go to sell, you could face another problem. The size of your loan, along with the costs of selling your property, could total more than the sale price, a financial hit that can be tough to absorb.
If you qualify for a 10 percent down payment, and it's the only way you can get into a home, it may be worth the potential risks. Bottom line: Talk to your mortgage professional and real estate agent about your options. Think strategically and long-term about what you're doing. Don't just make a 10 percent down payment because you can.


*courtesy of Zillow.com