Senior Loan Officer
Rose City Mortgage, NMLS 272695
Trying to make your home more eco-friendly is easier than you might think. There are several small things you can do, in each room in your house, to make your carbon footprint a much smaller one. The more we do to go green in our homes the better off our environment will be.
With changes in the climate a serious threat to our way of living, it is the responsibility of every person to make changes to their everyday lives that will have a greener impact and help to slow down the effects of global warming. One of the easiest places to start is by making your home more eco-friendly.
Going green at home does not require you to spend lots of money; in fact, it can actually save you money! Whether you take on small projects or large overhauls, every step we take towards being more energy conservative is one step closer to making the world a better place for the next generation. Here are some tips to help you get started and make your home more eco-friendly.
The living room is typically one of the most used rooms in the home, and often responsible for a large portion of the energy that your home uses. Make a more energy efficient living space and go greener by following these simple to install tips:
The kitchen is the hub of many American homes, and it is often packed full of energy-guzzling gadgets and appliances. Here are some ways you can cut down your kitchen energy usage:
The bedroom is another room that you spend a lot of your time in, both sleeping and relaxing, so make sure you follow these tips to keep things eco-friendly in there:
A great deal of energy is used in the purification of water before it reaches your bathroom faucets and shower. By cutting down on water usage you can help the environment. Here are tips to help you conserve energy in the bathroom:
There are so many other ways that you and your family can make your home life much more eco-friendly. Some of these go green in the home tips include:
There are lots of other ways that you can live a greener lifestyle, both in and out of the home, but adopting a few of the tips shared above is a great way to start. If you have children, try to get them into eco-friendly habits from an early age, as they are the ones that will benefit the most from taking care of the planet in the long run.
WASHINGTON – The Federal Housing Administration (FHA) today published new guidelines under its condominium approval process intended to increase affordable housing options for first-time and low- to moderate-income homebuyers. Effective immediately, FHA’s temporary guidance will streamline the agency’s condominium recertification process and expand the eligibility of acceptable ‘owner-occupied’ units to include second homes that are not investor-owned. Read FHA’s mortgagee letter.
These provisions will expire in one year and serve to revise FHA’s condominium approval process until the agency can implement a more comprehensive condominium rule change. Today’s guidance:
Streamline Condominium Recertification
FHA-approved condominium projects require recertification after two years to ensure that the project is still in compliance with FHA’s eligibility requirements and that no conditions currently exist which would present an unacceptable risk to FHA. For existing condominium projects seeking recertification, FHA will now only require applicants to submit documents reflecting any substantive changes since the project’s prior approval.
Calculation of Owner-Occupancy
The procedure for calculating the required owner-occupancy percentage (50 percent) is modified to allow units that are not investor-owned to be considered owner-occupied for the purpose of Condominium Project approval. A condominium is considered to be owner-occupied provided they are not:
Expansion of Eligible Condominium Project Insurance Coverage
Homeowners’ Associations (HOAs) are required to maintain adequate “master” or “blanket” property insurance in an amount equal to 100% of current replacement cost of the condominium (exclusive of land, foundation, excavation and other items normally excluded from coverage). Insurance coverage for condominium project approval that consists of pooled policies for affiliated projects, state-run plans, or contains coinsurance obligations on the part of the policy holder is now permitted to satisfy this requirement.
HUD’s mission is to create strong, sustainable, inclusive communities and quality affordable homes for all.
More information about HUD and its programs is available on the Internet
at www.hud.gov and http://espanol.hud.gov.
While there are differing schools of thought when it comes to whether or not a person should pay off a mortgage before the loan term ends, there may be some benefits to making payments on a bi-weekly basis as opposed to monthly basis. What are some of the reasons why it may be beneficial to make two payments a month instead of one? Here are three reasons why you should ditch the monthly fees and make payments once every two weeks.
You’ll Make An Extra Payment Per Year
If you’re looking to pay off your mortgage ahead of schedule, making bi-weekly payments means you’ll make an extra payment every year. Instead of making 12 large payments every year, you’ll make 26 small payments. These 26 small payments would be equal to about 13 large payments.
This is the equivalent of an extra payment per year and 10 extra payments over 10 years. If you have a 30-year mortgage, you could pay it off between two and three years early because you will make your last payment 30 months ahead of schedule.
You’ll Provide Yourself With Financial Flexibility
Making extra payments can provide you with financial flexibility that makes it easier to deal with unexpected expenses or a job loss. As you are making a half-payment every two week, you can make your payments in smaller, more manageable chunks.
It may be a good thing if you are self-employed and may not be sure when a client will pay for services rendered. Additionally, you may have your next payment reduced or advanced if you pay more than you owe in a given month.
You’ll Reduce the Amount of Interest Paid on the Loan
Paying off your mortgage faster reduces the amount of interest that you pay on the loan. Even if you only make one extra payment per year, you could still save thousands of dollars in interest by paying your loan several months or years early.
To determine exactly how much you will save, you can use an amortization table or calculator to see how much interest you pay over the full 30 years as opposed to taking only 27 or 28 years to pay for your home. It is also important to note that making extra payments adds to the equity that you have in the home.
Making two payments instead of one each month may help you achieve financial flexibility while building equity in your home. By paying off your mortgage as soon as possible, it may enable you to put more money into a savings or retirement account. Contact a mortgage professional for more information about whether bi-weekly payments are right for you.
When a rental property that is occupied by a tenant is sold to a new owner there are many details that require diligent attention. One of these areas is the utility billing and interim billing. Interim billing is one of the first things that you would want to cancel because an Owner doesn’t want to accidently pay for bill that isn’t their responsibility. This ensures proper and accurate billing. As a general rule, the tenant is responsible for all utilities for a single family home. In this case nothing changes if ownership changes and the tenant stays in place. If the house is located in a city where the population is over 100K, the owner is responsible for the garbage service. In this case, the garbage bill is changed to the name of the new Owner.
As a local property management company, we have the garbage bills mailed to our office and we pay it out of the rental income on behalf of the owner. That way the charge will be reflected on the monthly statement. This is important because this expense is a tax write-off for the home owner. If the new Owner is going to move into the property, and the tenant is going to move out, then all utilities will be a prorated amount based upon the move out date of the tenant. If the tenant moves out on the 18th of the month, then they are responsible for 18 days’ worth of electricity, water, sewer, garbage and natural gas. As the property management company for the house, we track this and make sure all these charges are distributed correctly.
We also manage condominiums and often times the owner/investor will pay the Condo Association fees that include water, sewer and garbage. These charges are also a tax write off and can be tracked for the year. Although none of this is difficult to manage, it does need to be watched carefully so all parties involved pay only their share. This careful attention to detail is what we do here at Rappold Property Management.
Rappold Property Management, LLC
1125 SE Madison Street, suite #201
Portland, OR 97214
In business, the slogan “Just Do It!” rings true and will serve you well. In the world of Property Management this is applicable as well. After all, we are trying to grow our business and be successful when we manage your asset wisely and efficiently. However, more often than not our slogan is “Just Do the Right Thing!”
As property managers we work with many vendors who complete work on our properties. We want quick, quality repairs, and at a good price for our clients. Sometimes this requires tough conversations. Navigating this world is our expertise and it is part of why you rely on us. Our fiduciary responsibility is always you, the client.
The other piece of the puzzle we have to navigate is relations with tenants. Our job is to provide clean, safe, well-maintained housing. However, and this might come as a shock, sometimes tenants can have expectations that are out of line. Just because a kitchen counter has a scratch on it doesn’t mean we need to replace the entire counter top with new, beautiful granite from Brazil. Often times a property manager has to say “no” in the most professional and courteous way possible.
Real Estate management is an active, engaging industry. One cannot just buy an investment property and watch it appreciate or mature, like treasury bonds. Having the right management in place is just as important as buying the right property at the right price. We have the expertise and experience to navigate the difficulties and pitfalls for you. Here at Rappold Property Management we take our job very seriously and we manage your property as if it were our own.
As of March 17 2014 there were about 7,821 single family and condo homes listed for sale in Portland Oregon. The median asking price of these homes was approximately $299,000. Since this time last year, the inventory of homes for sale has decreased by 2.2% and the median price has increased by 10.8%.
|March 17, 2014||Month/Month||Year/Year|
|Median Asking Price||$299,000||+3.3%||+10.8%|
|Date||Single Family & Condo
The median asking price for homes in Portland peaked in April 2007 at $354,740 and is now $57,585 (16.2%) lower. From a low of $239,125 in February 2011, the median asking price in Portland has increased by $58,030 (24.3%).
Housing inventory in Portland, which is typically highest in the spring/summer and lowest in the fall/winter, peaked at 23,354 in July 2008. The lowest housing inventory level seen was 7,810 in February 2014.
|Date||Single Family & Condo