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The pandemic and resulting economic recession has taken its toll on many Americans. For many, mortgage forbearance has come as a welcome relief during tough times. However, mortgage forbearance does not go on indefinitely, and will be ending soon. If you’re one of the millions of homeowners who has taken advantage of this program, then what do you do when mortgage forbearance ends? Let’s take a closer look at your options.

Contact your lender

The first thing you should do before your mortgage forbearance expires is to contact your lender. Every lender approaches forbearance differently. The only way to know exactly what your options are for your unique situation is to talk with your lender. Those options will be determined by the terms of your forbearance agreement.

Request an extension

If you’re still facing financial difficulties when your forbearance period ends, then contact your lender and ask for an extension. Was your forbearance granted under the CARES Act? Then you can ask for a 180-day extension. This allows you to postpone your payments for a total of 360 days. But don’t just stop making payments. You must contact your lender and formally extend your forbearance, or those late payments will have a negative impact on your credit score.

Refinance your mortgage

Mortgage interest rates have hit an all-time low. Right now, you can score a home loan for as little as three percent – possibly even slightly lower. If you’re planning to stay in your home long term, then refinancing your loan at a lower rate can save you thousands of dollars over the life of the loan. But be aware that refinancing will include closing costs that could amount to as much as six percent of the loan total. Refinancing may only make sense if you plan to live in your home for many more years.

Get a loan modification

Another option your lender may offer you is the ability to get a loan modification. If you’re at risk of defaulting on your loan, then you may be able to renegotiate the terms of your loan. This could include your monthly payment amount, the interest rate, or even the length of the mortgage. While this can save you money, you should know that loan modifications could cause a dip in your credit score. There may also be fees associated with your loan modification.

Sell

The real estate market is surprisingly hot right now. There are many more buyers looking for homes than there are homes for sale. If you’re in a tough spot financially, then now could be an excellent time to sell if you have equity built up in your home. Housing prices have remained steady through the pandemic, so this could be a smart financial move.

Foreclose

Finally, foreclosure is another option – but should be the last option you consider. If you’re too far behind on your payments and you can’t afford the fees associated with selling or refinancing, then foreclosure may be your only option. However, please note that the CARES Act prohibits lenders from foreclosing on homes until at least August 31 for those with loans backed by the federal government.

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Sellers – now is a great time to put your home on the market. If you’ve been hesitant to list because of the pandemic, then you should know that buyers have been flocking to the market this summer. Record low interest rates are motivating many buyers to find new homes. But what exactly are buyers looking for right now? These are the features and amenities that are at the top of most homebuyers’ lists.

Home office space

Millions of Americans began working from home this spring. And by many accounts, some of the jobs will become permanent work-from-home situations. For that reason, many homebuyers are in need of a dedicated home office space. And they’re looking for a space that can function as an office as its primary purpose – not something cobbled together as an afterthought. Do you have a room in your house that could be used as a home office? Then consider staging it this way when you sell. When working from home you need to protect your privacy. It’s easy to use another postal address for your business, as you can use a virtual office service like Glasgow Virtual Offices and they then just forward your mail.

A big kitchen

Restaurants are a big part of American culture. But since the pandemic forced restaurants to close, we had to learn how to prepare our own meals at home. And with many of our favorite eateries permanently closing because of the economic hit they’ve taken over the last few months, it’s more important than ever to have a spacious, functional kitchen at home. Many buyers are on the lookout for kitchens with appliances and kitchen sinks that make it easy to prepare meals every day.

More than one bathroom

It’s difficult to predict how much longer we may need to stay at home. With so many family members at home at the same time every day, the number of bathrooms has become even more important. Homebuyers are on the hunt for homes that have more than one bathroom. Planning to remodel your bathroom? Search for the best Houston bathroom remodeling services near me online today.

Extra space for extended family

Some Americans have adapted to pandemic life by forming “quaranteams” – a group of people who form their own social circle and limit contact with outsiders. Many families have decided to move in together during these unprecedented times. That means more homebuyers are looking for homes that can accommodate extended family. With many generations now looking to live under one roof together, having that extra space can be critical.

More outdoor living space

With gyms closed, people are looking for ways to get their exercise in at home. Having outdoor space to exercise helps people to keep up with their health regime even in the midst of a pandemic. And with many people nervous about going to grocery stores, having a backyard garden surrounded by Colored Concrete Patio Pavers and Residential Paver patios can be a great perk. Not only does it provide you with fresh produce, but it’s also great for both your physical and mental health. A garage door that is working and regularly maintained with the help of garage door repair specialists, as well as space in the garage to store bikes, sports equipment, or gardening tools are also what buyers are looking for.

Swimming pool

Finally, homebuyers would like to have some amenities that make their homes more fun and relaxing. With all this time spent at home, it’s nice to know you can simply step outside to take a dip in the pool. And for homebuyers with kids, swimming pools can be a great way to keep the kids occupied all summer long.

Despite the global pandemic and national unrest caused by protests and the upcoming election, America’s housing market is experiencing a remarkable comeback. Median home prices are up and homes are selling faster than they did at this time last year. Bidding wars are becoming common and Americans are feeling confident about buying and selling homes. So just what is driving this bullish housing market? Let’s take a closer look.

Historically low interest rates

Mortgage interest rates have hit historic lows, which is great news for homebuyers – especially those with tighter budgets. The average mortgage rate for the week ending July 9 was just 3.03 percent. Rates have not been this low since Freddie Mac started tracking rates in 1971. Those with excellent credit scores have been able to qualify for rates at just below three percent. This can save homebuyers tens of thousands of dollars over the life of a loan and reduce monthly payments by more than $100. And the low rates help to offset the cost of higher home prices in today’s market. They also make it cheaper to buy than to rent in some markets.

Large number of buyers

The pandemic has thrown into sharp relief how important a home can be to our safety and well-being. Buyers whose plans to purchase a home early in the year were stymied by the pandemic are now back in the market. They’re joining those buyers who were already planning to buy a home this spring or summer and urbanites who suddenly feel the need to escape hard-hit cities. Having lived in lockdown for several months, many buyers want to set themselves up in a home with more space – especially if we have to shelter in place again this fall or winter. In addition, the real estate market has quickly pivoted to virtual closings, making it easier than ever to shop for and close on a home from the comfort of your couch. And those with good-paying jobs who didn’t get furloughed during the lockdown have been able to boost their savings over the last few months, making it easier to have a sizable down payment on a home.

Shortage of inventory

Finally, while there are many buyers in the market, there is a severe shortage of inventory. In fact, there is approximately one-third less inventory now than this time last year. And there was already a lack of inventory in 2019. Many sellers were understandably concerned about selling their homes during the pandemic. In addition, there has been a suspension of building in most areas with a resulting loss in hundreds of thousands of construction jobs. Inventory was already stretched thin, and the pandemic just widened the gap between supply and demand. With homes in short supply, it has driven up home prices, even amidst a pandemic and an economic recession.

While Americans may have been worried about the housing market early in the year during the beginning weeks of the pandemic, the market has remained strong. In fact, evidence suggests that the real estate market is poised to lead our nation into economic recovery in the following months.

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The housing market remains strong despite the pandemic and high unemployment in America. And although buyers have been returning to the market in high numbers since restrictions eased, sellers are not returning in the same numbers. In fact, the real estate market is experiencing a shortage of inventory, making it more competitive for those looking to buy a home. In some markets, this may lead to bidding wars between potential buyers. So what do you do if you find yourself in this position? How do you win a bidding war in a sellers’ market?

Get preapproved for a mortgage

The very first thing you should do when shopping for a home is to get pre-approved for a mortgage. In a hot market, it is essential that you get pre-approved before you make an offer. It signals to the seller that you are a serious buyer. When there is high demand for a home and a seller receives many offers, you will not be the offer they choose if you are not pre-approved.

Make an immediate offer

If you find an off-market property or a home that has just been listed that you are very interested in, then make an offer immediately. And make an offer the seller simply can’t refuse. Work with your agent to determine what your offer should be and limit the contingencies. Sellers will be more likely to accept a full-price offer that requires little hassle. And put a time restriction on your offer – say, four to six hours. You may be able to avoid a bidding war if you can act quickly and make an excellent offer.

Offer all cash

If you have the means, then offer to pay cash for the home. If a seller receives multiple offers, then they will certainly be attracted to an all-cash offer. Cash purchases minimize the amount of hassle involved with a home purchase. Many home purchases can go south because of troubles closing on a mortgage – from issues with the lender to problems with the appraisal. Cash purchases can significantly reduce the amount of time it takes to close on a home.

Use an escalation clause

Are you really in love with home and willing to increase your offer? Then consider using an escalation clause. An escalation clause lets the seller know that you are willing to outbid the other buyers vying for the home. Your agent can help you to determine if including an escalation clause in your offer would be appropriate.

Write a personal letter

Do you feel very strongly about the home you’re trying to buy? Then it may help you to write a personal letter to the seller. Let the seller know why you love the home, and point out things you may have in common. One note – this strategy only works if you’re buying from a typical homeowner, not an investor like a house flipper.

Work with a trusted professional

Finally, one of the most important things you can do when shopping for a home is to work with a trusted professional. Having an expert agent on your side in a competitive market can mean the difference between closing on your dream home or watching as another buyer swoops in and takes the prize.

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Retirement and senior living communities (Carlton Senior Living) have been extremely popular in America for decades. With full-time staff, recreational and educational opportunities, and many kinds of comfortable homes to choose from just like the ones on this address, it’s easy to see why those aged 55 and older have been attracted to these communities. But since the global pandemic has hit older adults the hardest, it’s important to choose affordable assisted living apartments that will offer both activities and security. Here are some of the things you should look for when shopping around for a retirement community both during and after the pandemic. You may also visit sites like www.fallbrookglenseniorliving.com/living-options/ to get an idea.

Know your options

Retirement communities aren’t always one-size-fits-all. Different kinds of communities are available to suit a wide variety of needs. There are a few that are more broad or lean more towards all-encompassing, which might be what you’re after. I recommend you take a look at the senior living center at chelseaseniorliving.com/locations/new-jersey/fanwood/, to see if it is right for you. They are very well-established, and have been improving constantly over time. At this point they’re right up there with the best.

• Independent Living communities are great for active seniors who don’t require regular care. They offer several types of housing options including apartments, condos, townhouses, or single-family homes.

• Assisted Living facilities like the assisted living in Simi Valley that provide services for those seniors who may require help with meals, medication, or physical care. Get here more info on the best assisted living homes or you may also check out a site like https://compass-living.com/senior-living/ca/redding/sundial-assisted/ for further details.

• Skilled Nursing Facilities are for those who require rehabilitation or skilled medical care.

• Continuous Care Retirement Community may blend many or all of these types of communities on one campus.

Understand the restrictions

Many retirement communities place restrictions on who can live within their community. Those living in age-restricted communities must have at least one person in their household who is 55 years old or older. Others may be age-targeted communities that cater to a certain age group, but they place no formal restrictions on who can live there. You should also familiarize yourself with any visiting restrictions that are in place because of the pandemic. Since those aged 60 and older at most at risk of having complications because of the coronavirus, many of these communities have restricted visitors. As a result, they have been able to stop the spread of the virus among their residents. This can be a very comforting advantage, but it will also limit how often you will be able to see your loved ones in person.

Research the amenities

One of the greatest benefits of living in a retirement community like Summerfield of Roseville is the access you’ll have to a wide variety of amenities. Many of these communities host a full roster of activities and events. They may also have public facilities like fitness centers and offer classes like yoga or wellness where they discuss about tips such as healthy eating and the use of the best appetite suppressants to control your weight. Many of them also have special interest groups so that you can socialize with people who have common interests.

Some of these communities like this Walnut Creek, CA assisted living community have begun to offer these amenities online during the pandemic in an effort to practice sheltering in place and social distancing.

See what they’re doing to keep residents safe

Finally, it’s important to know what a retirement community is doing to keep its residents safe, both during and after the pandemic. Find out if they are following all the CDC guidelines in terms of keeping public spaces sanitized and disinfected. See if there are any added restrictions when moving in, such as a mandatory two-week quarantine. And ask if there are options for advanced medical care as residents get older. You may click here to learn more.

The houses for rent market has exploded in recent years. Companies like Airbnb and VRBO make it easy for homeowners to rent out their properties for short stays, and it has become an important source of income for many Americans. Letting a property is also a great way of making money on the property market, but you need the best letting agents in order to do at. We used some amazing Bristol letting agents recently for a property in Bristol and they were just amazing and got us some brilliant tenants, so looks for letting agents of that calibre. But many owners of short-term rental properties are wondering if now may be the time to sell those property rental listings. Especially considering that the travel industry continues to lag because of the pandemic and the real estate market is flourishing because of record-low interest rates. Here are some signs that now may be a good time to put your home on the market.

There’s a lack of inventory

Demand for homes is huge right now, and there is a lack of inventory to meet that demand. According to a report released by the National Association of Realtors (NAR), inventory is down almost 20 percent from the same time last year. Numbers indicate that there are fewer homes on the market than there are interested buyers. If you’re considering selling, then now could be an excellent time – especially if your home is in a desirable, less-populated area.

Home values remain steady

While there was concern early in the pandemic that the housing market would collapse, that has not happened. In fact, homes have continued to hold their value. In addition, experts believe that home prices will remain steady throughout the remainder of the year. With demand high and home values holding strong, selling now could make smart financial sense.

You’re losing income

There’s no denying that owners of short-term rentals have taken a hit in their pocketbooks because of the coronavirus. With travel severely limited and most Americans opting to stay home, owners of vacation rentals have seen their bookings plummet. Even though owners are not making money off their properties, they still have to pay expenses such as mortgages, taxes, and repairs. If you’re losing income, then it might be time to let the property go.

You’ve got expensive repairs on the horizon

If the pandemic is coinciding with big-ticket repairs on your short-term rental, then it could be more favorable to sell. Whether you’re in need of a commercial roofing repair or it’s time to replace expensive aging appliances like a furnace or AC unit, these expenses could drain your reserves.

You’ve outgrown your rental

Your decision to sell your short-term rental could have more to do with your current lifestyle than any financial shortcomings you may be experiencing. Many homeowners use their short-term rental properties as vacation homes for themselves and rent them out when they are not in residence. But if you’ve noticed that you’re using your property less and less, then selling when demand is high could be a positive move.

The uncertainty is stressing you out

Nobody can tell us when the pandemic will be over. It’s difficult to estimate when life as we know it will return to normal. It could be weeks, months, or even years. If the stress of not knowing what the future holds is too much for you to bear, then it could boost your well-being to let get of your short-term rental. You always have the option of investing in a different property once the pandemic is safely behind us.

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It’s difficult to predict how the pandemic is going to continue to impact our lives over the coming months. But it seems safe to say that the more time we can spend at home, the safer we will be from the coronavirus. If you have teenagers at home, then it can be challenging to share a living space with them. Teenagers are beginning to assert their independence, and they need some time away from family members now and again. Now is a great time to create a teen hangout space in your home where your teen can retreat when they need to relax and recharge. You can put a fish tank and add some fish in your teen’s room for mind relaxation. If you want to consider this, read here on how to aquascape your fish tank.

Here also are some inspiring ideas we’ve discovered to create spaces for your teenagers at home.

Treat them to a bedroom makeover

When was the last time you redecorated your child’s bedroom? If it’s been a few years, then it’s time for a makeover. Help them create a bedroom space that is comfortable and more grown up. This means swapping out the Disney décor for something more contemporary and adult that lets their unique personality shine. If the room is big enough for a small sofa, then this can make the room feel even more like a hangout space. Add new lighting and have some of their favorite photos framed.

Create a game room

Do you have a spare room in your home, such as a guest bedroom or even a storage area? Then why not transform it into a game room? Having a place to engage in a little fun is critical, especially if we’re once again asked to shelter in place. Stock up on board games or buy a good gaming pc under $1000 so they can play video games. Give them a way to play their favorite music, and maybe even add a mini fridge so they don’t have to raid the kitchen for their favorite snacks. Are you a fan of MMORPGs like World of Warcraft? If you are, you might want to check out this site where you can buy wow tbc classic gold.

Transform the basement

If your home has a basement, then this is really the perfect place to create a teen hangout space. Giving them an entire floor that they can retreat to when they need their own space can be ideal for everyone. Not only does it give them room to spread out, but it can also keep the upstairs portion of your home much more tranquil. You can create zones in the basement that your teens use for different purposes. A comfy sofa and a VIZIO TV can create a zone for watching movies or playing video games. You can transform a corner into a sleeping nook with a bed and a privacy screen. If you have enough space, then consider calling a ?Pool table delivery service. Don’t forget to also buy a billiard table brush to maintain your pool table.

Give them some outdoor space

Finally, give them a corner of the backyard that they can call their own. Hang up a vivere double hammock with space saving steel stand tropical or get some comfy outdoor furniture where they can lounge. You can make their area a little more private with container plants or trellises. Add some fun lighting so that they can enjoy their outdoor space even when the sun goes down.

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Are you one of the millions of Americans who are ready to jump into the real estate market this year? Despite the pandemic, the real estate market is flourishing because of record low interest rates. It’s an excellent time to get a great deal on a home. But lenders have tightened their requirements for getting a home loan, and as a buyer it’s essential to have a good credit score when you begin your search. Here are steps you can take to improve your score before applying for a mortgage.

Check your report

The first thing you need to do is to order a copy of your credit report. Thoroughly review the document for errors. Unfortunately, it’s not uncommon to discover mistakes on your credit report and they can negatively impact your score. If you do find errors, then you need to take the necessary steps to have them removed. It can take several weeks or months to clean up your report, so get started on this step right away.

Avoid new debt

One of the worst things you can do before you apply for a mortgage is to burden yourself with additional debt. Do not take out any new loans or make any big purchases on credit before closing on your home loan. Your score could take a big hit and the new debt can be a red flag to lenders.

Improve your credit utilization ratio

When you apply for a home loan, your lender will be looking at your credit utilization ratio. This is the ratio of your debt to your credit limits. You want to shoot for a credit utilization ratio of about 30 percent. There are two ways you can do this. The first is to pay down your existing debt. The more money you can funnel towards credit card debt and other loans, the better. The second way is to contact your creditors and ask them to increase your credit limits. Though it may seem like this is asking for more debt, as long as you don’t use that available credit, it will help to improve your credit utilization ratio.

Don’t close accounts

Have you paid off one of your credit cards? Congratulations! That’s a big step toward improving your credit score. However, don’t be tempted to close that account – at least not right now. While you may want to close the account to avoid the temptation of spending that available credit, that could impact your score. Several things help to determine your credit score, including the length of your credit and your credit history. Closing accounts can negatively affect your credit score, so wait until you’ve closed on your home loan to do it.

Settle collections

Finally, you can greatly improve your score by settling any debts that have gone into collections. Are you able to pay off this debt? Then contact the collections agency and tell them you wish to settle the debt and have it removed from your credit report. Be sure to get your agreement with them in writing, and continue to check your report to make sure it’s been removed.

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With all the time you’ve spent at home this year, you may have noticed things you hadn’t really noticed before – like how dirty the exterior of your home is. Being at home more has also given us time to tackle projects that are pretty far down on the to-do list – like cleaning the exterior of your home. Power washing services for your home side is importance. Healthy Carpets also offers Pressure washing Ann Arbor. Contact them today for details and assistance.

Let’s check it out here and talk about why pressure washing your home is a good investment of your time and energy.

It improves your home’s curb appeal

First things first – pressure washing your home makes it look clean and inviting, thus improving your curb appeal. If you’re selling your home this summer, then it’s incredibly important to pressure wash your home. One of the biggest turnoffs for a buyer is to see a dirty parking garage or a lot. It is mandatory to power wash the parking garage on a regular basis and keep it in superb conditions. Buyers are out in force this season because of record low interest rates. You need your home to stand out, and pressure washing helps to achieve that goal. Even if you aren’t selling, residential power washing improves the look of your home and your neighborhood. If you want to further improve the look of your home, you may consider  getting a new siding installation. Curb appeal affects home values, and good curb appeal shows people that you care about your home and your community.

It’s an important part of your home’s maintenance

Pressure washing isn’t just important for cosmetic reasons. It also helps with the maintenance of your home. When you pressure-wash your house, you help to prevent build-up of things you don’t want, like dirt, mold, and mildew. Allowing these things to build up on your home can cause your building materials to deteriorate or even rot over time. This could cause expensive leaks or repairs. Eventually the building materials may need to be replaced. By pressure washing your home, you’re helping to ensure that the exterior of your home stays in good shape for the long haul.

It keeps your family healthy

Many people are sensitive to mold and mildew. It can harm those who have allergies or asthma. When you pressure-wash your home, you remove those irritants and help to keep your family and loved ones safe and healthy.

It prepares surfaces for painting

This summer is an excellent time to tackle large-scale home projects. Since we’re spending so much time at home, you can finally get to those items on your to-do list that you’ve wanted to do for years. For some, this could mean painting the exterior of your home. An important step in painting the exterior is to get it ready to receive the new paint. Pressure washing the outside of your home removes grime and loose paint so that you have a smooth surface for your project. If you’re going to invest the time and money in painting the exterior, then it’s important not to skip commercial pressure washing.

It’s incredibly satisfying

If none of the reasons above have persuaded you that pressure washing is a good idea, then maybe this reason will – it is incredibly satisfying. Watching years’ worth of dirt and grime just magically disappear with almost no effort is fun! Many people find pressure washing to be a relaxing activity. It has the power to transform the exterior of your home and renew your pride of ownership. Experts like Coast Pro Wash / pressure washing can help you with pressure washing your home.

While the pandemic put in-person open houses on hold for several weeks, more buyers and sellers are eager to resume this practice. While virtual tours have helped to keep the market afloat during these challenging times, it’s hard to replace the experience of seeing a home in person. Fortunately, experts agree that it is safe to resume open houses, provided key safety precautions are met. Here’s what you need to know about safely hosting an open house this summer.

Keep your home clean, disinfected, and sanitized

First of all, it’s essential to keep your home clean, disinfected, and sanitized when it’s for sale. Follow all CDC guidelines for keeping your home clean and have hand soap available at all sinks so that visitors can wash their hands frequently.

Require PPE

In addition to regularly sanitizing your home, you should require basic PPE for those visiting your home. This includes asking all visitors to wear masks. It is also advisable to provide shoe coverings for visitors. Not only does this keep your floors clean, but it also helps prevent visitors from bringing contaminants into your home. Encourage visitors to practice social distancing inside your home, and limit how many people can be inside at any given time. Consider providing hand sanitizer throughout the home so that guests can easily keep their hands clean.

Keep air flowing

We all know that outdoor spaces are safer than indoor spaces when it comes to protecting yourself from the coronavirus. Help keep air moving indoors by opening all the doors and windows. Not only will this increase air flow, but it will also make your home appear bigger and brighter. You might also consider investing in HEPA-based air purifiers to use in each room to help keep the air clean. In addition, have an ac repairs technician service your ac units to make sure they’re working properly in case the potential buyers inspect them.

Limit touching

We’re all now very aware of how easy it can be to pick up bacteria and viruses on frequently touched surfaces. Limit how much visitors need to touch surfaces in your home during their visit. Potential buyers will want to know what’s behind every door, so keep them all open during your open house. In addition, turn on every light in your home before visitors arrive, so that no one needs to touch light switches during their visit.

Make resources available online

Instead of handing out paper copies of floor plans or photos, make these resources available online. That way, potential buyers who want more information can easily access it from their own devices.

Follow local and state guidelines

Most importantly, you should follow all local and state guidelines when hosting an open house. Every jurisdiction has its own guidelines in place, depending on the severity of the pandemic in your area. Make sure you keep up to date and follow all recommended procedures to keep you and your visitors safe.

Work with a professional

Finally, it’s key to work with a professional real estate agent when selling a home this summer. The real estate process can be complex, and with all the new restrictions in place, it’s helpful to have an expert on your side. Working with a professional agent who is knowledgeable about your local market will give you peace of mind when listing your home for sale during the busy summer season.

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