Money Saving Tips for Homeowners From the Pros

 Saving money as a homeowner can be challenging but professionals in the industry have several tips that can help reduce around your home so you have more money to save.

1. Avoid paying thousands on home appliance repair costs

Appliances, especially if they are old and untrustworthy can cost you more than you should really shell out. In fact a broken refrigerator can cost you thousands of dollars in repair costs. If you haven’t been caught in a pickle yet, think about getting a home warranty. A home warranty can help you pay for surprise repairs and replacement costs.

2. Go solar and cut your electricity bill

Your energy bills can be daunting and can hold you down each month. Solar energy can help you reduce your home’s electricity costs. There are systems out there they will not only help you with savings but also potentially give you more power.

3. Save big on your energy bill by replacing your home’s windows

A window that was installed poorly or has cracks in the seals or panes, can drain your home’s energy. In fact, tons of your heat or cool air from your HVAC system can be lost through faulty windows. Replacing your home’s windows with certified energy-efficient windows can save you big bucks in the long run by saving tons on your energy bills.

4. Eliminate expensive gutter cleaning costs

Cleaning your gutters several times a year is a burden for you and a huge unnecessary expense if you hire a professional each time. The solution is to upgrade your gutters to a system that remains clear and clog free. There are many systems on the market today that have a lifetime warranty.

5. Lower your homeowner’s insurance premium by getting home security

Many insurance companies out there will give a homeowner a discount on their rate if they have a monitored security system. A system can detour a burglary or if one takes place and your system is on, they might pay your insurance deductible.

7. Don’t let pests drain your bank account

Pests such as rodents, termites and cockroaches will destroy your home and its structure. This can end up costing thousands of dollars in the long run. Getting regular inspections and treatments by professionals is imperative.

All of these tips can help you save money now and money in the long run. It is important to always keep your home and all its parts working and running smoothly.

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Positive Expectations for Housing Availability

 Many future and current homebuyers are seeing brighter days ahead for the new home construction sales. The Housing Trends Report showed 29% of those who were looking to buy a home felt that they housing availability was better. In fact, there was a 2% increase from the last quarter in 2022 to the second quarter of 2023 from 24% to 26%.

The overall perspective has been more positive among all the regions across the U.S. We saw a big impact from the last quarter of 2022 to the second quarter of 2023. In the Northeast it increased from 28% to 36%, the West 27% to 34%, the Midwest 19% to 25% and the South 24% to 27%.

Although the regions changed in a positive light in all regions, the changes were more drastic in some regions over others. From the final quarter in 2022 to the second quarter of 2023 the inventory perceptions increased in the Northeast from 26% to 42%, the Midwest from 23% to 28% but in the South it went from 32% to 31% and the West from 31% to 30%.

The Housing Trends Report (HTR) is based on research done by the National Association of Home Builders (NAHB). The goal for the report is to measure perceptions about the availability and affordability of homes for sale in their markets.  The report comes out quarterly.

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Unusual Events Covered by Homeowners Insurance

 When you think of events covered by homeowners insurance, you think of fires, break-ins, tornadoes etc. just to name a few common losses. Most homeowners know the general things that it does cover.

The top property damage is by fire or weather according to the Insurance Information Institute III. There are other top claims which made the list. These include wind and hail damage, freezing pipes, and lightning.

Homeowners may not know everything that an insurance claim will cover and many are damages are surprising. Your insurance agent will know these things and can educate all policyholders on uncommon losses. They can also educate policyholders on what is not covered in a typical homeowners insurance policy such as earthquakes and flood damage.

Things that fall from the sky are covered. This can be damage from meteors or airplane parts. Homeowners surprisingly do not need a separate policy for damage from volcanic eruptions. Spoiled food, if rotted due to a power outage is covered by your homeowner’s insurance. Pet bites or attacks are also covered under a homeowner’s insurance policy. If you need to relocate during repairs after an event such as a fire, your hotel expenses can be covered.

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2022 First Quarter Sees a 3% Increase in Homeowner Equity

 According to a report published by CoreLogic, homeowners with mortgages in the first quarter of 2022 saw their equity grow by 32.2% year-over-year. There was a collective equity gain of $3.8 trillion in the first quarter. This was an average gain of $63,600 per borrower. Homeowners with mortgages accounted for around 60% of properties across the country. Home equity and home prices both rose together, in fact, home prices were up 20% in March 2022 compared to March 2021.

“This has led to the largest one-year gain in average home equity wealth for owners and is expected to spur a record amount of home-improvement spending this year,” Patrick Dodd, CEO of CoreLogic said in a statement.

Homeowners across the nation, approximately 62,000 homeowners regained their home equity. Good news but CoreLogic still reports that around 2% of homeowners with a mortgage still remain underwater. This is about 5.3% less than those reported underwater in the fourth quarter of 2021.

There is still hope, the report predicts that if home prices increase by 5% then around an additional 130,000 homes would regain equity. Lets hope it takes this trend, if it doesn't and the market turns the opposite way, then around 167,000 additional homes will go underwater.

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The Cost of Buying a Home

Buying a home is one of life's big moments and is a huge financial expense. If you are in the market for a home, then you will want to factor in all the costs associated. Here are the true costs of owning a home.

A home inspection is a cost that you will occur and if there are any issues with the home, you will either negotiate with the seller or have to come up with the money to fix the problems. A detailed, in-depth home inspection is a good idea to get on the home you are going to purchase.

When you purchase a home, you will need to bring closing costs to the table. Closing costs include title fees, lawyer fees, contract fees, and more. Future homeowners need to realize the listing price is not the only expense but closing costs will be added on.

Potential homeowners will need to consider monthly utility expenses. Operating home expenses can be a surprise to first-time homebuyers. Some of these expenses, just to name a few, include heat or cooling, appliances, lights, gas, water, trash and recycling.

Along with a mortgage monthly payment, you will need to pay homeowner's insurance. A homeowner's insurance agent can explain what is included in these monthly costs. The homeowner's insurance premiums are held in the escrow account and paid each year. They are collected monthly on top of the mortgage monthly payment.

Moving costs are many times looked over. These costs need to be considered whether your move is local or far. These costs can include time off work, packing, loading and unloading, and in some cases storage facilities and packing supplies.

When you live in a neighborhood with a homeowners association there will be HOA fees that are due each year. These will be paid either monthly or annually. You will need to factor this cost into your budget.

If you are in the market for a new home, using a Realtor is a smart choice. Remember to leave the house shopping, buying, and selling to the professionals.

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Louisiana Homeowners Can Apply For $25K Grants To Help With Home Mortgage Payments

COVID-19 hit the U.S. not only with a health crisis but a financial crisis as well. Due to the pandemic, Louisiana is offering their homeowners $25,000 each in order to help catch up on late mortgage payments. Residents who are at risk of foreclosure can apply for the Lousiana Homeowner Assistance Fund.

The Lousiana Homeowner Assistance Fund is federally funded and is for Louisiana homeowners who are having a hard time paying their mortgage payment due to COVID-19 financial impacts. The program is through the Lousiana Office of Community Development under the U.S. Department of Treasury.

The program has been funded $146.7 million in federal pandemic aid. Homeowners who are earning less than 150 percent of the area median income or 100 percent of the national median income, whichever is greater.

Statewide the amount of income per household varies. For example, a three-person household in Orleans Parish who makes less than $94,650 will be eligible. A three-person household in East Baton Rouge Parish who makes less than $107,100 can get the funding.

Any homeowner in Louisiana can apply for free by submitting an application online. The application will then be assigned to a case manager. The case manager will then review for eligibility and might ask for additional documentation. Once approved the mortgage services will be paid directly on the homeowner's behalf.

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2022 Brings New Home Décor Trends

 

Now more than ever our home has become our sanctuary. Everyone has spent more time in our homes in the last 18 months than ever. Here are twelve trends that professionals predict for 2022.

1. Curved Furniture Silhouettes

Furniture designs are becoming a bit softer this year with curved edges and feminine shapes. This will make the room feel more cozy and safe but with bold colors and big designs. Furniture will become more of an artwork according to designer Linda Hayslett of LH. Designed. The pieces will be more refined but will also blend with function. She says to picture softer curves with a gorgeous naked back. Comfort is not the only thing homeowners are looking for, they also want something fun and striking that creates an interesting and memorable space.

2. Decorative Cabinetry

Professionals predict that your cabinets in your kitchen, powder room or mudroom will be more creative styles. Beveled shaker cabinets are coming back into style. The shaker today will be more beveled than standard with a combination of shaker styles and rails giving a more unique look.

“I think (and hope) that 2022 is the year more creative cabinetry styles will go mainstream,” says designer Kate Lester of Kate Lester Interiors. “If you’re going for a more contemporary look, I always suggest something a little different, like a vertical paneled door detail or a flat-panel style with a really unique piece of hardware.”

 

3. Sustainable Practices

“Sustainability is the new sexy—and, in 2022, we predict consciously-designed and responsibly-manufactured products to be at the forefront of every home,” says Georgie Smith and Hilary Gibbs, founders of recycled tile company LIVDEN. “From building materials to furniture, consumers are looking to adopt more innovative products that are designed from the start with sustainability in mind. Next year and beyond, we see widespread adoption of green technology in residential interiors. From smart thermostats to innovative recycled water systems, homeowners will not only be more conscious of their consumption but will also actively look to reduce their energy and water usage. Sustainability doesn’t have to mean sacrificing beautiful design. In 2022, we predict a surge of colorful and bold sustainable materials and products that will force us to reimagine what sustainable design is and can be.”

4. Loads Of Texture

This speaks for itself when it comes to decorating a space. You can layer the simple basic neutral palettes in different textures to get this look. “We'll definitely be seeing an uptick in texture in 2022—the more, the better!” says designer Andi Morse of Morse Design. “There will be more soft velvets and boucle fabrics mixed with woven furniture and sisal carpets. These elements help add warmth, creating an inviting space.”

5. Parisian-Inspired Interiors

“Next year, we’re going to see modern interpretations of Parisian-inspired designs as a popular home trend,” says Kelley Carter, Bloomingdales’ Home Fashion Director. “The intersection of color and materials will be a focal point here, with pastels and metallics coming together to create an inviting space. By bringing in design pieces made of translucent materials—like colored glass and iridescent crystal—they can create a glowing effect when you place them in an area of the home with plenty of natural light. It’s a nice way to brighten up the space and create a dreamy, warm atmosphere typical of Parisian culture.”

6. Fun Foyers

The foyer is the first place a person sees the interior of your home. This is the place where you will make a first impression. “One of my favorite new trends for 2022 is fun in the foyer,” says designer Hillary Stamm of HMS Interiors. It’s the first room people see when they come to your home, so don't be afraid to make it amazing! From vintage rugs to books and baskets, aim to create a styled but welcoming vibe.”

7. Home Bars

Homes have become more of live work and play space since the pandemic. Many rooms have learned to become flex zones such as a dining room for eating and a classroom for school from home. “Be it wet or dry, everyone wants a gorgeous, tricked-out bar in their homes right now,” says Scheer. “While it's a holdover from the pandemic, I think it's a trend that's here to stay and I'm not the least bit mad about it.”

8. Nature-Inspired Hues

“Green has always worked beautifully in interiors, especially when clients ask to bring the outdoors in,” adds designer Caroline Turner. “However, I think 2022 will be the biggest year yet for the versatile hue. Whether the application is big (my preference) or small, the right green can really pack a punch. Olive, sage, emerald, and forest are some of my favorites.”

Bringing the outdoors in through color has become ever so more popular these days. “The new neutrals for home colors are actual nature colors,” says Hayslett. “The past couple of years, people have had to spend more time outdoors, where the colors are always calming and never too stark, bright or loud. 2022 will see more designs bringing in those muted nature colors such as leafy greens, bark browns, ocean and sky blues, sandy beiges, cloudy whites, and more into the home.”

9. Vintage And Reclaimed

Second-hand shopping has become the rage as supply-chain issues have pumped the breaks on new home items. Furniture delivery is now months to a year away for most retailers. Vintage and antique furniture will become even more popular this year. “With the massive shipping delays and increased raw material prices we've seen as of late, vintage pieces have become even more desirable,” explains Lauren Meichtry of Elsie Home. “I've seen some stunning vintage pieces brought back to life with new upholstery and a little refinishing. Nothing like a global pandemic to force our hand into getting even more creative.”

10. Closed Floor Plans

“The pandemic has impacted every facet of life but especially our homes,” says Turner. “More and more time spent at home creates the need for privacy within. A big part of our job today is creating niches and nooks that feel calm and private. We’re adding walls and openings more often than we are knocking them down. The additional design opportunities are a bonus—the more closed rooms, the more creative you can be. One large open floor plan often relies heavily on neutrals and repetition to not overwhelm the eye, while a more closed floor plan has natural transition points that help a big design moment feel contained.”

11. Indoor-Outdoor Living

“Homeowners are putting more investment into their exterior spaces than ever before,” says Jean Brownhill, founder of Sweeten. “Homeowners are moving pools, outdoor kitchens, firepits, and extensive seating and dining to the top of their wish lists. In warmer climates, indoor spaces extend out to patios for indoor-outdoor living, often doubling the square footage of a home’s eating and entertaining areas. Installing bi-folding and sliding doors that span the full width of a wall can help you seamlessly connect to the outdoors, while large windows are a better option in climates with four seasons.”

12. Colorful Tableware

According to Food52's table buyer, Casey Simring, "tablescaping is quickly becoming an art form and medium for self expression. Dinnerware, glassware, even flatware, have all become opportunities to show off your personal style and curation—and the style is no longer your grandmother's bone china plates." This year? It's all about mix-and-match color. "The beauty of a mix-and-match colorful table is that you can grow your collection over time," Simring says, "adding pieces from different collections to create an eclectic yet stylish tabletop. If you're nervous, just start with the small stuff: snag a set of mixed color napkins, fun taper candles, or even a mini cake stand. Then work your way up to the tinted glassware and dinnerware styles—I find it's easier for me to commit to a set of funky color bowls before a full dinnerware set. If you're intimidated at having to style colors together, start with either warm or cool tones—you'll be surprised how easy it is to create a palette from there!"

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Challenges With St. Tammany Zoning for Medline Distribution Center

 Medline had plans to build a medical equipment distribution company south of Covington. Many homeowners are up in arms about the prospect of such a project being in their community. Judge Reginald Badeaux of the 22nd Judicial District has thrown out the lawsuit filed by a group of residents.

January 12, 2021, the judge upheld the council's vote to rezone the property for the distribution center. The 70 acres between Interstate 12 and Ochsner Boulevard will be the first project of its kind in the area. Residents are concerned that the project will cause traffic and drainage issues. There is also concern that the project will need its own comprehensive zoning plan.

Many in the parish are hopeful that the original plan to build a 1-million-square-foot center in St. Tammany will still happen. Bruce Wainer of All State Financial Company owns the property and feels the judge made the right decision. He states the decision was "a matter of fact and a matter of law — I think the judge ruled correctly." St. Tammany Parish Council Chairman Mike Lorino is also in agreement with the judge's decision and feels the Parish Council did everything correctly in its handling of the rezoning and acted reasonably.

Not all leaders in the community are for the judges ruling. Nancy Wagner, president of the Flower Estates Civic Association is part of those who appeal the ruling. "We have said from the beginning when the council approved the...rezoning without following the law that we would continue to pursue all legal options," Wagner said in a text message. "We are disappointed that the ruling today mistakenly denies residents a full judicial review of our factual and legal arguments."

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Habitat for Humanity’s National Women Build Week in Mandeville

Habitat for Humanity’s National Women Build Week is an annual event held every year the week before Mother’s day where women across America join together to help build new homes in poverty stricken communities. The women’s comradery and the blessing of each other’s company made this week’s event a huge success. Since the program began, more than 2,300 homes have been built with

the help of National Women Build Week. This year, Habitat for Humanity was joined by the local St. Tammany Parish Lowe’s Home Improvement which donated close to $2 million to the week-long event.

You do not have to be a builder to volunteer. Both Habitat for Humanity and Lowe’s encourage women to volunteer for a day to not only gain new construction skills but to make a difference in the lives of new homeowners living in St. Tammany Parish. These volunteers impact the lives of many families by providing them the chance at owning a newly built home. Volunteers are not only giving their time to a good cause, they themselves are learning the ins and outs of new home construction which gives them new confidence in being able to handle small construction projects on their own utilizing their building education. Lowe’s’ how-to clinics also assist in giving women the opportunity to learn the necessary skills for the volunteer jobs.

As a “life skills” learning experience, as well as an achievement and self-confidence booster for the new homeowners who get to live in the homes built by Habitat for Humanity, the construction of their new home offers a valuable life lesson as well. The project requires that they take pride in their new home by putting in their own time, energy, and effort into the building project. New homeowners are required to put in 300 – 400 hours of time in not only building their own home but also other Habitat for Humanity homes as well. During National Women Build Week, the focus is on the challenges and obstacles poverty-stricken women face when trying to reach the goal of home ownership.

More than 15,000 women volunteered during National Women Build Week May 2-10 across America. Of those 15,000 women, more than 25 volunteers, along with Habitat for Humanity St. Tammany West, and Lowe’s Home Improvement (which contributed financially with a $5,000 Lowe’s gift card to Habitat for Humanity St. Tammany West) helped with the building of seven houses in the Mandeville affordable housing community just north of Florida Street in Old Mandeville. The seven new homes under construction will be dedicated to the home buyers in June and October of 2015.

Parish President Pat Brister, who was among those that volunteered, said, “Over 400 children have grown up and/or are currently living in Habitat St. Tammany West homes. That’s 400 children that now have a safe and stable home to grow up in.” This new home construction project brought life changing education as well as shelter for residents of Mandeville, Louisiana, in St. Tammany Parish.


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