The Mortgage Rates of 2022

 The end of 2022 saw a dip in mortgage rates with the 30-year fixed-rate mortgage at an average of 6.49% even though this is down from the week prior at 6.58% it is still way up from the same time last year which averaged 3.11%.

The Federal Reserve has been boosting the interest rates due to easing the rising inflation but they are falling because inflation has “reached its peak.” According to Jerome Powell, Fed Chairman, they started to cool off on the spike in rates December 2022. Although the rates were dipping and home prices were easing up, homebuyer demand was still slowing down at the end of 2022.

“Mortgage rates continued to drop this week as optimism grows around the prospect that the Federal Reserve will slow its pace of rate hikes. Despite some promising developments, we have a long way to go,” said Sam Khater, Freddi Mac’s chief economist.

“The Fed is indicating that the aggressive rate hikes this year have been enough to start slowing inflation,” according to George Ratiu, Realtor.com’s manager of economic research.

He also goes on to explain that the falling away from 7% rates is a relief to homebuyers. Due to the dip, homebuyers have been more positive and welcome the slow down. Mortgage applications have been rising according to the Mortgage Bankers Association.

“The silver lining is that inventory of homes for sale continues ramping up, even with sellers taking a step back from the market this fall. Buyers who are ready can expect more properties to choose from, and a better negotiating position,” says Ratiu.

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A Unique Siding For a Home

 Board and batten style siding is coming back in style and is a great way to add visual interest to the walls of your home. This style of siding can also boost the curb appeal of your home. This style of siding is constructed of thin strips of wood molding (battens) fixed on top of the vertical seams of panel or vertical siding. This timeless look is both rustic and trendy and can go on most any home design. Board and batten style siding can provide a clean, modern texture to your home, providing character and cozy warmth to the exterior.

Board and batten has been used ever since the conception of the U.S. It was first used on barns and sheds which is why many people refer to it as barn siding. It was not just for looks but served a very important purpose. The batten strips were used on siding to stop any outside elements from seeping into the joints. The animals in the barns would stay warm because of the batten siding.

Today’s modern board and batten style has many different design looks. The batten can be installed using panel siding, vertical siding, or lap installed vertically. This can be done with thin battens or wider battens and can have varying thin and wide battens. Many homes install board and batten style siding on the whole exterior of their home or just to accent a wall or a feature of the home. Other examples of using this style on the exterior are adding board and batten to the second story, mixing board and batten with brick veneer or mixing it with metal roofing.

When determining the cost of board and batten, you need to look at the size of your home, the design of your home, the overall project and the quality of the materials. Usually board and batten is made out of wood, but can be made from other materials such as vinyl, fiber cement or steel. Professionals in the industry say the most durable is engineered wood siding. It has the look of cedar texture but is more durable and easiest to maintain.

Re-siding your home can give it a completely different look and can boost your curb appeal. If you are in the market to sell your home, talk to a Realtor about how board and batten can enhance the curb appeal and look for your home.

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Details That Separate a Primary Suite From a Five-Star Retreat Primary Suite

 The primary suite can be called a master suite, owners suite or whatever you like, but no matter what you call the space, there are many distinct differences you will find from a regular bedroom and ensuite bath. An owner’s suite should be decorated and designed with the owner in mind. Here are five distinct features that when added to a master suite makes the space a five-star retreat.

1. A Sitting Room Where You Can Relax

A dedicated sitting room is an added bonus to your owner’s retreat. You can make the space both elegant yet cozy. When decorated your sitting room, choose richly hued colors that will keep the space close and cozy. A sitting area should have its own decor apart from the rest of the master suite. A good way to link the areas is to use the same window treatments such as nice draperies throughout the master suite.

2. Closets with Advanced-Tech Appliances, so You’re Always Impeccably Dressed

Just like location is important to real estate, the closet is important to the bedroom. In fact, most people would agree that you can never have too many closets. A master bedroom must have a nice walk-in closet and a good bit of the space’s square footage is dedicated to it. To make it even better, many master closets now have high tech clothing care appliances. These include an all in one washtower that can both wash and dry clothes. Since it is a single unit it takes up very little space.

3. A Private Courtyard for Peace and Quiet

A private courtyard is a great way to add outdoor space to your master retreat. This can be a space that is only accessed by the owner’s suite. A great example would be to add accordion style glass panel doors to the sitting room. These doors can open up into a nice private courtyard area. This can be a great place to sunbathe, do yoga, or play with your pet.

4. A Personal Coffee Bar to Make Mornings Brighter

Being able to have coffee at your fingertips right when you get out of bed would be a great feature for the master suite. A built-in coffee bar in the primary suite is the perfect touch. A nice little area with a counter and an under-counter refrigerator will complete the space. That way you have a place to put your cream, cold brew, water or cocktail ingredients.

5. A Mini Art Gallery to Showcase Cherished Pieces

A great way to show off a homeowner’s personality is through their art collection. A perfect spot to do this in a primary suite is in a hallway that connects the primary suite to the rest of the home. The hallway can be treated as a gallery to display the homeowner’s treasured pieces. This is the perfect space because this is a place that homeowner’s truly spend the majority of their time.

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How Much of Your Net Worth Should Be in Real Estate?

 Ever since the first settlers came to America, real estate has been a worthy investment. Even with the volatile economy we currently are living in, real estate is still a pretty safe way to invest and grow your net worth. The home prices are high currently, but those that have recently invested in a new home will still see a good return. There are some homeowners who have too little or too much of their net worth invested in real estate which can result in problems. So what is the magic number when it comes to investing your net worth into real estate?

According to professionals in the industry, you should use anywhere from 25% to 40% of your net worth for real estate. This will include your home that you live in and other real estate investments. By doing this, it allows you to capitalize on the advantages of real estate ownership while giving you plenty of flexibility to pursue other avenues of investment and wealth development. This is a broad percentage range but your age, risk tolerance and other various factors will play a part in determining how much you should go with.

Investors will tell you that adding real estate to a portfolio is very beneficial. You can enjoy predictable cash flow, excellent returns, tax advantages and diversification. Remember there are several pros to real estate investments. Real estate can appreciate over time, bring you tax incentives, provide a large chunk of income, allows you to use leverage and build equity, and allows the investor to have direct control over the investment.

Investors will need to know first hand how to calculate how much real estate should go into their net worth. This can be calculated with a net worth formula which is net worth = total assets – total liabilities. There are net worth calculators online that will provide you with the figure. An investor should always know the information needed to calculate.

To make it easier, an investor will need to divide their assets into four categories. These include tangible assets (furniture, cars, collectables, physical properties, etc.), equity assets (ownership in stocks, investments in partnerships and businesses, retirement accounts, life insurance cash value, etc.), cash and cash equivalents (cash, money market accounts, checking accounts, savings, etc.) and fixed income (bonds, etc.).

Once you have this total, then you will need to add up your liabilities. This can be divided into two categories which are secured debts (car loans, home equity loans, mortgages, etc.) and unsecured debts (credit card debt, student loans, personal loans, taxes, medical bills, etc.). Once you have your total for your assets and liabilities you will apply the net worth formula.

Remember, it is very important to understand how your net worth is calculated and what information you will need to do this. If you are in the market for a home or a real estate investment, talk to a local realtor who can help you with a real estate transaction.

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Slidell's Hospice House a Special Place

 St. Tammany’s Hospice House is a special place that is a nonprofit three bedroom, three bath place to stay. The facility operates like a bed and breakfast and houses those who have little time left here on earth. Guests who come to the house have been advised by doctors they have a limited time to live. The house will serve guests for up to 90 days according to Miranda Parker, Executive Director and there is no charge for their stay.

“We take care of them 24 hours a day, and we do every bit of it for free. We don’t charge the families or the patients, we don’t charge the insurance or Medicare. It’s completely, 100 percent free,” says Parker.

In order for it to be free, the house runs off of donations and fundraising that happens throughout the year. The most famous of the fundraisers is the yearly Crawfish Cook-off in Slidell. It is a separate organization from hospice agencies. The difference is that agencies take care of patients in their own homes while the house is a place to stay.

“We provide top-notch care for these patients, getting one-on-one attention, 24 hours a day. If they want an ice cream sandwich at 3 in the morning, they get an ice cream sandwich at 3 in the morning,” boasts Parker.

As for family and caregivers, it gives them a respite and helps them to get adjusted to their new normal. They can get back to being a family member and not feel the whole responsibility of being a caretaker.

Even though it is only a three bedroom home, the house has welcomed 61 patients in 2021 and over 55 in 2022. The house has six nurses who rotate in shifts so that patients will have care 24/7. These nurses are also there for patients to talk to and visit with and they are not required to be registered nurses or even licensed. The staff is trained to help patients in their current situation and help their families through it.

“That is what they’re born to do. I 100 percent believe that. It takes a special person to provide the love and support at the end of life. No one else wants to admit we’re mortal but it’s just something I think we need to get more comfortable with, and someone needs to know what your wishes are. It’s either a hard conversation now, or a hard conversation for someone else later,” says Gladys Wilkins, a nurse at Hospice House.

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Several Benefits of Electric Heating

 Colder weather brings many indoor nights and days during the winter. Homeowners try to prepare for the seasonally higher energy bills which depending on which part of the country you live in can be very expensive during the wintertime. Here are several benefits from professionals as to why you should try electric heating.

First, a Few Fundamentals

Emissions reductions is a very important topic for today’s policymakers and electrification is a way emissions can be reduced. Many homeowners are switching to electric to help save the environment and save on energy bills.

“Homeowners are becoming increasingly aware of the governmental perks and tax rebates to reduce fossil fuels – specifically with the recently announced Inflation Reduction Act. Within the bill, homeowners are encouraged to adopt electric heating systems like the heat pump in order to take advantage of government offered incentives,” says Mark Woodruff the senior outdoor product manager of Trane.

According to the Department of Energy a heat pump will give you around one and a half to three times more heat in your home using less electric energy itself to produce the heat. Heat pumps take the air from the outside and move it into the home. You are using less energy and saving on costs plus reducing the greenhouse gas emissions.

What Equipment Will I Need?

That depends on your climate. “Region and climate matter when finding the right system for your home and saving energy,” according to Woodruff. If you live in a mild climate then you can get heat off just a heat pump without a furnace. A variable-speed heat pump will automatically adjust so there will not be any temperature swings. Colder climates would use a dual-fuel or hybrid solution. A variable speed blower motor adjusts its speed to provide a consistent warm flow of air.

“By delivering the precise capacity the home needs, Trane’s heat pump maintains much tighter temperature control, which has been field-verified to be within 0.25 degree Fahrenheit of the thermostat set point, yielding optimal comfort. By always delivering the minimum capacity that the home needs (no more and no less) instead of cycling on and off, the unit runs at significantly higher operational efficiency and at a lower sound level,” explains Woodruff.

Are Electric Heating Systems Easy to Use?

These days, systems have energy transition feature thermostats which are great for reducing energy use. The system itself is hooked up to several controls and sensors that will keep the temperature and humidity at the perfect spot. These systems can be programmed to run more while a homeowner is at home or less when they are away.

A homeowner can even adjust their system via smartphone, laptop or tablet with the Trane colorful touchscreen thermostat allowing the system to be adjusted from anywhere! You can also link your system to Alexa or Google Home so you can adjust the system by talking. There are some top of the line systems that do come with remote diagnostics, which keeps your system running smoothly. Your HVAC company can remotely access the data on your HVAC to troubleshoot.

Remember owning an electric system can improve your quality of life and save you money. They are energy savers, cost savers, eco-friendly, easy to use, and versatile. “Compated to a traditional furnace and air conditioner heating and cooling setup, a heat pump can save you as much as $526 a year in energy costs,” says Woodruff.

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