Archwood Properties

Since we already learned a few tips on how to save energy in our living room, the same can be done in the kitchen. 

Much like the TV is to your living space, the refrigerator is the energy hog of the kitchen.  Take a minute to evaluate your thermostat settings.  The refrigerator should be set between 37-40 degrees F and the freezer between 0-5 degrees F.  Maintaining a stable temperature can decrease this appliance’s energy consumption by 25%.  Also, cleaning the coils on the bottom or in the back of the fridge every 6 months will prevent the unit to work as hard to direct cold air.  Sure, the ice make is incredibly convenient, but is it necessary? No.  To save 15-20% of consumed energy, switch off that automatic ice maker and fill up some good ‘ole fashioned ice trays.  Finally, do you have an extra fridge for cold drinks and freezer storage?  If you can consolidate into one primary unit and disconnect your ‘beer fridge’ as many call it, you’ll save tons of energy.  Typically, these bonus fridges are older models that constantly run and burn energy. 

You can save money with your stove/oven too.  We all know that even after you’ve turned a burner off, if you touch it, it’s HOT!  Put that residual heat to good use and turn off your stove or oven a few minutes before the recommended cook time.  As long as your food is involved in the cool down, it will continue to cook.   When you are using your stove, make sure the burner matches the pan.  If you’re using a small pot on a large burner, you can just see the money slipping out of your wallet, for no good reason.

One last energy waster in the kitchen is your dishwasher.  The majority of energy used is to heat the water, but no matter how new and sophisticated our appliance may be, it will still use the same amount of power and water regardless of how full it is.  By only running a cycle when it is full will save you money on both electric and water bills.  Growing up, I was told not to put big items in the dishwasher and I abide by that rule.  Hand washing pots, pans, baking sheets, chopping boards, mixing bowls, etc. is just in my nature.  Turns out, it takes 1/3 less water and power to wash those items in the dishwasher than it does by hand, due to the amount of water required and heating that water.  As long as your racks are full, go ahead and run that baby!

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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Since a family’s living area is a high-traffic, high-volume space that is probably used more than any other room in the house, next to the kitchen, it’s easy to waste money while enjoying the amenities. 

If you’re in the market for a new TV, take the time to evaluate the cost difference between  a plasma and LCD screen.  Plasma’s take much more power to operate and those energy costs are nearly 6 times what it costs to run an LCD screen.  Sure, LCD screens are a bit more expensive, but multiply approximately $42 savings a year by the number of years you estimate having a TV and see if that outweighs the additional cost of purchasing an LCD over a plasma screen.  If it does, spend pennies now and save dollars later. 

You can also save money by unplugging those unused electronics, lamps and appliances in the living room.  Just because they aren’t turned on doesn’t mean they aren’t sucking out power.  For those items, group them together on a power strip so it’s easy to turn them all off with one click of a button.  Of course, many of us rely on our digital cable boxes and DVR’s to continuously download data so we can’t unplug those, but a smart power strip will allow you to completely turn off your tv while leaving the recording device plugged in.

When you’re shopping for new electronics, make sure to look at the Energy Star rated selection.  These items will save anywhere from 6-75% of required energy.  If you just can’t live without that plasma tv, there is even an Energy Star version. 

Even though this isnt’ necessarily helping your electric bill, it is helping your wallet, and most importantly our environment.  Transition your remote control, video game system and any other battery-required device to rechargeable batteries.  They are more expensive than disposable batteries, but for every single rechargeable you use, you save 500 batteries from entering our waste system. 

Finally, since you’re in your living room so much, your lights are probably constantly on and sucking out power like no tomorrow.  Change out your incandescent bulbs for compact florescant ones. 

You always see those ads, Work from home, Make money from your living room, Your career from your couch… Well, these tips aren’t one of those gimmicks.  Seriously, put more cash in your pocket from living area.  All it takes is a few small changes.

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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It’s quite a debate to decide if you’re appropriately insured for your property and personal possessions.  In the event of a devastating loss, you don’t want to have a policy that won’t assist in getting you back to your routine lifestyle, but on the other hand, you don’t want to throw money away in policy premiums each year if you won’t need it all.  How do you get just the right amount of coverage?

Most agent recommend opting for  replacement cost coverage rather than cash value coverage.  This way, the insurance company will cover the expenses of replacing damaging property, rather than just giving you the value of the loss.  If you have a to rebuild a home due to a fire, a cash value policy will only give you enough money to reimburse you for your 10 year old windows, roof or doors.  The replacement policy understands that while your property may have depreciated and you’ve gotten great use of it, it will still take money out of your pocket to pay today’s prices.  One thing to remember with replacement coverage is to get a policy big enough to cover the entire rebuild of your house, purchase of furnishings and personal property and the land value of your property.  Market value will sell you short of where you need to be in the event of a complete loss. 

Additionally, another oversight is the construction costs of rebuilding.  Sure you may have factored in the supply costs of every single item in your home, light switches and all, but did you remember to factor in how much you have to pay someone to do the work?  If you have a recently purchased home, you know a round-about figure to give your insurance agent when decided on a policy, but if it’s an older home, get a few bids from local builders before nailing down a policy. 

Adjusting your policy as things change within your home is another crucial aspect.  If you do a remodeling project that is 5% of the homes value, or $5,000 (whichever is less) adjust your policy to cover your upgrades.  I mean, you aren’t putting money in the house for nothing, right?  Adjustments can be in terms of added personal property too.  If you have more expensive furniture, clothing or jewelry, make sure your policy covers that as well. The amount of additional coverage will literally only cost you pennies on the dollar in premiums compared to what it actually costs to replace. 

Any loss can be devastating and a long-lasting headache, but having complete coverage will at least minimize your chaos. 

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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It’s a no-brainer that we use our heating/cooling system the most in the summer and winter, therefore the best time to have routine checks done is during the fall and spring seasons.  These evaluations, plus other maintenance tips will help keep your system running effectively and efficiently.

The fall check-up should include cleaning the furnace blower, burners and heat exchanger, while in the spring, condenser coils should be cleaned, refrigerant charge should be checked and the wiring inspected. Additionally, you can pour a cup of bleach down the air conditioner condensate drain to prevent buildup of mold and algae.  Also in the spring, wash and dry filters and vacuum condenser coils on any window units.

Monthly maintenance includes changing out the air filters.  If you don’t have a shedding pet, you can probably stretch that out two extra months. Once a month, it’s recommended to inspect insulation on refrigerant lines leading into your house.  It’s also important to make sure that there is about two feet of clearance around your outdoor units and heat pumps.  Debris and shrub growth needs to be kept clean around this area.  

More regularly, you need to make sure to keep the actual unit itself clean.  Any leaves, grass clippings, or debris that is piled on top of the unit needs to be brushed off each time you’re outside doing your yard. 

I know, you’re probably thinking “Great! One more chore to add to the list…” but these few maintanence routines will definitely save you time and money in the longrun. 

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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The time is still right for buyers. With the home prices remaining steady and the stabilizing economgy, it’s not just a good time to buy a house…it’s one of the best times to buy.

1. Low mortgage rates serve as an equity shock absorber. When buyers borrow at today’s record-low rates, they start building equity as soon as they close. That means they have a little give to absorb a few ups and downs as the still-recovering housing market gains traction.

2. Houses are in move-in condition. Homeowners have continued to spend on maintenance and repairs.   Homeowners who have been holding back, kept their houses in good shape while they waited. As those houses enter the market, they are in marked contrast to tattered foreclosures.

3. Terrific houses are coming on the market. Foreclosures are finally starting to clear the system—and this is just the opportunity that owners of many desirable properties have been waiting for.

4. Appraisal regulations are finally aligned with market realities. Fannie Mae has adjusted its appraisal guidelines, giving appraisers more flexibility to set values that reflect the current market. This ensures that today’s deals will make it over the finish line.

5. Plenty of programs. Homes are more affordable than they have been for years, but communities have stuck by “workforce housing” programs that encourage middle-class families to buy houses. Buyers who qualify can get a big boost by combining one of these programs with today’s low mortgage rates.

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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I couldn’t wait to get all my things settled once I purchased and closed on my first home.  I was too wrapped up in being a first-time home buyer that there were so many things I overlooked.  What I had thought was a significant amount of ’stuff’ turned out to be scraps when I moved everything in and saw how bare the place looked.  I think many new buyers end up being in the same boat.  It may be a lack of preparation, possibly a lack of financial funding, or sometimes people just like to design and add as they go.   As it turns out, as much as I try to plan and organize and in advance, the shopping as you go was pretty rewarding.  Once I was in my home and knew all the nooks and crannies, if I was out somewhere and saw a particular piece I really liked, I would then know exactly where I could put it.  It kept every outing adventurous and gave me time to save up a little money.  

Typically, homeowners spend an average of $7,400 on their home, with more htan 50% of that amount being spent within the first year after purchase.  Many people haven’t accounted for this type of spending but there are a few specifics that can get you by with maintaining a home, and not just a house.  The rest is just details you can add later.

Once ‘kids’ are have outgrown their parents hand-me-downs, the most popular items to purchase are sofas, dining sets and new bedroom sets.  This can personalize your style and set the tone when you walk in each room.  By shopping around and buying furniture during sales holidays, you can really find some excellent bargains on quality furniture.  Typically, mattress sales are at their peak during the summer holidays. 

Instead of spending a ton of money on a fine piece of art, there are easier ways to spruce up your walls.  Window treatments is a cost-effective way to ‘fill the walls’ and also provide a sense of privacy and security.  Finally, now that you are no longer renting, you can also paint those walls any color your heart desires.  A fresh coat of paint adds tons of personality.  If your paint and linens match, that leaves less of a need to purchase complimentary accent pieces. 

I’m fairly certain there are plenty of new buyers out there that totally disregard the fact that they now have to take care of a lawn.  Of course, having a plush flower bed to welcome guests is always desirable, but that can come with time and money.   For starters, you can maintain a home with a freshly-cut lawn, so don’t forget to invest in a lawnmower.  A hose and shovel will also come in handy for little maintenance projects. 

One of the biggest items new homeowners invest their money in is a flat-screen tv.  I’d put money on the bet that nearly every potential new buyer walks into a property and starts talking about where they’d put the tv.  It’s no wonder such technology is at the top of the purchasing list.  Also, it’s important to take inventory of what appliances are already in the house.  Typically a dishwasher, stove and microwave come equipped in a home. Occasionally a refrigerator or washer and dryer set may be left behind, but usually you need to buy your own.  These items needed to be accounted for well in advance or it makes actual day-to-day living in your home very difficult.

This may seem silly, but a basic tool kit will take you a long way.  Are you trying to hammer a nail into the wall with the heel of your boot?  Having essential tools and hardware will help your move and decorating much easier.  This is a fairly inexpensive purchase that will save you time, headaches and trips back and forth to the hardware store. 

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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Temperatures aren’t the only numbers on the rise during the summer months, so are energy costs.  On average, cooling costs are around $400 a year per homeowner, but let’s be real honest — I know for a fact I have spent a significantly greater amount than that.  I’m always looking for ways to keep my costs to a minimum, and what I’ve found are methods that can be applied to both central air systems and window units.

SIZE: 

In terms of window units, the size is measured in Btus and the amount of energy required is dependent upon the size of the room.  Getting an over-sized window unit will cool the room faster but then will turn on and off more frequently, which defeats the purpose of saving energy. The EnergyStar website will provide a standard chart on the number of Btu’s recommended for various room sizes, but then you have to evaluate your own specific factors as well.  Remember, a sunny room will need more power while a darker room could still be comfortable with a smaller unit.  

If you’re dealing with a central air system, you aren’t left entirely to your own resources for guidance, as you will probably work with a contractor.  One thing to remember is that central air units come in multiple parts, so make sure your contractor is using pieces that compliment each other for maximum savings on energy, rather than piecing together a random unit.  A rule of thumb to follow is if your unit is more than 15 years old, even if it’s still ticking along, thing about investing in a new system.  The money you will save in efficiency is certainly going to be worth shelling out the initial cost.  And don’t forget that you can opt for the $1500 tax credit if you purchase a new unit before the end of the year!

SEAL & MAINTAIN: Even with an energy-efficient model, you still may be sucking out more cold air than what is necessary.  If there is a leak anywhere in your home, you’re just throwing dollars down the drain.  Be sure to install window units accurately per the instructions so that you aren’t leaving any gaps in the windows.  Air filters is another factor that will change how much energy you use on air conditioning.  If the filter has too thick of a film, the unit has to work harder to push air through to the vents, in turn costing you more on your energy bill. 

HABITS: A final thing you can do to lower your energy bills is to tweak your living habits.  Very small chances can lead to very big savings over time.  Buy a programmable thermostat so that you can set the temperature to be warmer during your anticipated routine hours away from the home.  If you have a window unit, get one with a built-in timer.  Also, if it’s not a blistering hot day — keep cool with your ceiling or area fan and add a few degrees to the ‘ole thermometer.  Even keeping your home 2 degrees warmer in the summer can save you money.  Also, if you have curtains or shades in your home, close them before you leave for a given period of time so the room doesn’t sit there and bake. This will keep your AC unit from running full-blast just to maintain a comfortable temperature. 

I know it seems almost impossible to save money and cut corners when it comes to A/C in the summertime, but just with a little thought and effort, you can keep a few extra pennies in you pocket!

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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With the economy in repair, the new-home sales are also back on the rise, only this time the properties are more affordable.  Just like any major purchase, it’s imperative to understand what you’re getting into with new construction. 

When dealing with realtors, make sure to get a realtor that represents you, as the agents suggseted by the builder are paid to represent them as the seller.  High-pressure tactics may be used by the builder’s agent to persuade you to sign the contract and they won’t discuss any drawbacks to this transaction.  Your own agent will represent you, act as your fiduciary and disclose the positives as well as the negatives.

Be fully aware of all of the factors of a builder’s lender before making the committment.  Builders often are one step-ahead, since their lenders will keep them fully-informed of your personal progress.  Also, if the actual builder owns the lending company they recommend, chances are, they aren’t giving you the best deal.   Sure, if they offer you 15% off the value of the home, it sounds like a great idea, but look closely and see if they require that you use their lender.  Committing yourself to a single lender before shopping the market will pigeon-hole you into higher rates and closing costs.  One important thing to remember is you need to know exactly what your credit report looks like and you are entitled to getting your own report before even speaking to lenders.  Once you know where you stand in terms of credit and you’ve begun shopping around for the best rates, insist that your lender guarantee their Good Faith Estimate.  If they shy away from it, take your business elsewhere — there is someone out there who really wants your business.

If one buyer has a bad experience with a builder, word can often spread like rapid-fire, but it’s important to accruraltey assess the builder’s history overall.  Take time to check public records for any lawsuits or complaints and evaluate how you feel about their resolutions.  This will give you better insight to the company’s values and if you trust your investment in their product.  This is not the time to be shy — speak with the neighbors in the development and see what they have to say about their experience. 

Also, even though you have a brand-new product that the builders may swear by, just like buying  a used home, hire your own home inspector.  While new homes usually come with a 12-month wall-to-wall warranty, some of the significant problems with a house may not surface in the first year.  If your selected inspector recommends calling an additional professional out, figure out if he is just not licensed to inspect a specific concern or if there is major potential problems down the line. 

One final tip is to consult a real estate lawyer before signing a contract with a home builder.  Standard agreements may keep you out of court, but they dont’ necessarily include terms that protect you as the buyer.  It is pertinent to understand you liability and commitments and to know what rights you have to cancellation or removal of contingencies.  Additionally, if the contract includes a health warnring regarding the types of materials used, that’s a huge red flag and it’s time to go back to the drawing board. 

Building a brand new home that is made just for you is a very exciting process, despite the headaches that come along with it.  Being educated, asking the right questions and standing up for yourself as a buyer will eliminate many of the speedbumps along the road. 

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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With summer kicking into full-swing, backyard pools will be the ‘hot’ hit for the next couple of months. 

With about 260 children under the age of 5 drowning each year, pool owners need to take safety precautions.  One method of protection isn’t enough when you’ve got smart, dare-devil kids around.  Most importantly, 100% supervision is the key to keeping your back yard pool a safe haven for children.  Even though you may keep a close eye on kids at the pool, you may not be close enough to them to save them from a potential accident.  Having a protective barrier around the edges of the pool will also deter such traumatic events from happening.  Don’t forget that automatic safety pool cover that secures over the top of the water and is sturdy enough to withstand a child’s weight.   

Keep in mind that barriers around the immediate area of the pool are designated to protect your children and guests, but what about those neighborhood kids that might see a pool and make a B-line for the water???  In most cases, it is regulated to have a fence around back yard swimming pools, but what kind of fence is appropriate?  It is recommended that a wooden fence of at least 4 feet in height and without footholds to prevent climbing should be installed.  Also, it’s important to remember that if the fence has any gaps between the vertical members, they should not be wide enough to allow children to squeeze through.  The gate on such a fence should be self-closing and self-latching, with the latch being high enough to be out of the reach of small children.  It is important that if you plan on leaving the house for a given period of time, put a lock on that latch so nobody can enter your backyard while you aren’t there to supervise. 

A final method of security is to get a pool sensor that will go off if it recognizes a disturbance in the water, such as a child falling in.  Two types of sensors are made, one to monitor surface waves and another to monitor subsurface disturbances.  The most effective are the subsurface monitors, as they do not have as many false alarms due to weather, etc.  These can also work with a pool cover, whereas the surface wave sensor cannot.

The summertime is often the most-anticipated time of the year for children and they often proceed without any caution.  Even though the pool tragedies are few and far between, even just one drowning is too many. 

Have a fun and SAFE summer!

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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If you are still able to somehow manage your mortgage even though you may be underwater in what you owe vs. what it’s worth — don’t just walk away from it.  Many people believe that taking a hit on their credit score is worth ridding themselves of a headache of never getting out of their property what they owe. 

Many of those who actually choose to default on their mortgage believe that over a little time, if they pay all their bills on time, no worries — financing another home is a piece of cake.  For those homes that are lost due to financial hardships, the turnaround time for buying another property is 2-5 years, but if you opt to walk away from your mortgage, that time can easily double. 

A credit score is only a factor in the overall decision for lenders to accept your application for a home loan and underwriters will closely scrutinize every possible reason why you may have defaulted.  If those reasons don’t include any financial hardship or health issues, they won’t be so lenient on lending to you again.  For walkaways, even having a good credit score isn’t a strong enough indicator of your willingness to pay your note on time.  The only thing strategic defaults do is work against you. 

Having said all this, it doesn’t mean it is impossible to get another loan after you’ve walked away from a previous mortgage.  There are lenders out there who still want to make interest, so they might just take a bite at a high-risk borrower.  Of course, this will all be at a steep interest rate to protect the lenders in the event of a second default and a hefty down payment of around 30%.   

Obviously, there are economic factors that are often beyond a homeowners’ control which may devastate their financial status, forcing them to default on their home and lenders are accepting of that fact.  Trying to get ahead by getting behind, on the other hand, isn’t going to get you very far.  This is a good rule of thumb to remember while in the situation of being upside down in a mortgage or even before you purchase a home.  Sometimes what we think will help us out, ultimately does the exact opposite. 

Contact us today: 214.923.0261 or email us: info@archwoodproperties.com 

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