Patricia Sandstedt - Dittmar Realty

07/22/2022

Brick houses are undeniably attractive. They're timeless, durable, and they work beautifully with natural elements. It also doesn't hurt that bricks are eco-friendly, a feature that many modern homeowners crave.

If you've ever examined a brick house, you might have noticed evenly spaced holes along the foundation. These openings — known as weep holes — might look strange, but they actually serve an important purpose.

Why do brick walls have weep holes?
In order to appreciate the reason for weep holes, it helps to understand the nature of bricks and cementitious mortar, which is the cement that's used to adhere bricks together. "Bricks and cementitious mortar are [naturally porous] materials," Mike Powell — a P.E., C.P.I., licensed professional home inspector, and founder of Red Flag Home Inspection — tells Hunker.

In other words, bricks and cementitious mortar can absorb moisture from sources like humidity and rainwater. This moisture can escape from the outer face of the bricks — but not from the back side. That means a pocket of elevated moisture can become trapped behind the bricks where it can't easily escape, says Powell.

As you can imagine, trapped moisture is bad news for the brick foundation. Specifically, it can lead to moisture damage and mold growth, Ralph Severson — licensed contractor and founder of Flooring Masters and Professional Remodelers, a full-service remodeling company — tells Hunker. Not only will this weaken the foundation of your home, but it can ruin its curb appeal, too.

weep hole at bottom of brick wall
Image Credit: Wikimedia Commons
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Enter weep holes, which "provide a conduit for water to escape from behind the brick assembly," Powell explains. You can find them in old and new brick houses alike. A quick explainer: "Early brick installations used solid brick masonry, with multiple layers of brick forming the wall element itself. Nowadays, a brick veneer system is used. [This involves] an exterior wall element that's faced with a brick veneer to provide the desired aesthetic of the brick," says Powell.

The gap between the exterior wall and brick is called the "drainage plane." This gap redirects the moisture to the weep holes along the bottom, shares Powell. As a result, the water can exit the wall assembly, effectively preventing moisture from getting trapped in the structure.

Think of it this way: These holes allow the brick structure to weep.

Ultimately, weep holes "are absolutely necessary if you want to keep your [brick] house from rotting and growing mold," Severson says. They also require no maintenance. And while weep holes ​can​ get clogged, it's a rare occurrence, he adds. Typically, the installation of numerous weep holes help prevent this issue.

07/19/2022

https://www.apartmenttherapy.com/moving-contract-terms-37080182?fbclid=IwAR2ciJkfxKX5qQFrlZsXhSLyDwrY_TSa4aSfRS6XJ3gb50wOaD6Jx933nFs&fs=e&s=cl

There’s a whole lotta moving going on right now. It’s easy to get caught up in the hubbub of the move and gloss over the moving contract, or just go with the first company you find on the internet. Arming yourself with a little moving knowledge can protect your stuff and save you money.

07/13/2022

How to Reduce Your Homeownership Costs
July 13 2022

From taxes and insurance to maintenance and repairs, homeownership comes with a variety of costs.

But don’t worry: These expenses don’t have to break the bank.

With a strategy (and maybe a few key home updates), you can reduce your costs in the long run. You may even make your home safer and less prone to damage.

Want to cut the costs of homeownership? Try these five approaches:

Homeowners Insurance: Want to reduce your insurance premiums? You could bundle your home and auto policies, upgrade older systems in your home, or add safety devices (like burglar alarms and smoke and carbon monoxide detectors).

Utilities: To reduce your monthly utility bills, invest in Energy Star-certified appliances, and consider getting a smart thermostat. Other things that may help include seasonal weatherproofing, updating your windows, adding more insulation and installing LED lighting.

Taxes: If your property taxes increase, you can challenge them with your local appraisal board. You might also be able to file for a homestead exemption for a primary residence, which puts a cap on how much your taxes can increase each year.

Repairs: Contractor costs and building material prices are still rising. Shop around for the parts you need, and consider doing any projects you’re qualified for on your own rather than outsourcing. You can also shop secondhand for lower-cost supplies.

Mortgage: Refinancing for a lower rate could lower your monthly mortgage payment and help your financial situation overall. Even if you refinance to a shorter term (raising your monthly payments), you can typically reduce your long-term interest costs.
If you have questions about homebuying and homeownership, reach out today.

07/05/2022

Come sit and visit with us in our new office in Harper in the beautiful Hill Country. We can help you find your dream forever home!!!!

07/01/2022

It can be tempting, especially with how hot the housing market has been over the past two years, to consider selling your home on your own. But today's market is at a turning point, making it more essential than ever to work with a real estate professional.

Not only will a trusted real estate advisor keep you updated and help you make the best decisions based on current market trends, but they're also experts in managing the many aspects of selling your house.

Here are five key reasons why working with a real estate professional makes sense today.

1. A Professional Follows the Latest Market Trends
With higher mortgage rates, rising home prices, and a growing number of homes for sale, today's housing market is showing signs of a shift back toward more pre-pandemic levels. When conditions change, following the trends and staying on top of new information is crucial when you sell.

That makes working with an expert real estate advisor critical today. They know your local area and follow national trends too. More importantly, they'll know what this data means for you, and as the market shifts, they'll be able to help you navigate it and make your best decision.

2. A Professional Helps Maximize Your Pool of Buyers
Your agent's role in bringing in buyers is important. Real estate professionals have a large variety of tools at their disposal, such as social media followers, agency resources, and the Multiple Listing Service (MLS) to ensure your house is viewed by the most buyers. Investopedia explains why it's risky to sell on your own without the network an agent provides:

"You don't have relationships with clients, other agents, or a real estate agency to bring the largest pool of potential buyers to your home. A smaller pool of potential buyers means less demand for your property, which can translate into waiting longer to sell your home and possibly not getting as much money as your house is worth."

3. A Professional Understands the Fine Print
Today, more disclosures and regulations are mandatory when selling a house. That means the number of legal documents you'll need to juggle is growing. The National Association of Realtors (NAR) explains it best, saying:

"Selling a home typically requires a variety of forms, reports, disclosures, and other legal and financial documents. . . . Also, there's a lot of jargon involved in a real estate transaction; you want to work with a professional who can speak the language."

A real estate professional knows exactly what needs to happen, what all the paperwork means, and how to work through it efficiently. They'll help you review the documents and avoid any costly missteps that could occur if you try to handle them on your own.

4. A Professional Is a Trained Negotiator
If you sell without a professional, you'll also be solely responsible for all the negotiations. That means you'll have to coordinate with:

The buyer, who wants the best deal possible
The buyer's agent, who will use their expertise to advocate for the buyer
The inspection company, which works for the buyer and will almost always find concerns with the house
The appraiser, who assesses the property's value to protect the lender
Instead of going toe-to-toe with all these parties alone, lean on an expert. They'll know what levers to pull, how to address everyone's concerns, and when you may want to get a second opinion.

5. A Professional Knows How To Set the Right Price for Your House
If you sell your house on your own, you may over or undershoot your asking price. That could mean you'll leave money on the table because you priced it too low or your house will sit on the market because you priced it too high. Pricing a house requires expertise. NAR explains it like this:

"A great real estate agent will look at your home with an unbiased eye, providing you with the information you need to enhance marketability and maximize price."

Real estate professionals know the ins and outs of how to price your house accurately and competitively. To do so, they compare your house to recently sold homes in your area and factor in the current condition of your home. These steps are key to making sure it's set to move quickly while still getting you the highest possible final sale price.

Bottom Line
Whether it's following local and national trends and guiding you through a shifting market or pricing your house right, a real estate agent has essential insights you'll want to rely on throughout the transaction. Don't go at it alone. If you plan to sell, let's connect so you have an expert on your side.

06/29/2022

Staging is a vital tool when selling a property. The majority of buyer's agents say staging can increase offers by anywhere from 1% to 20%, according to a report from the National Association of Realtors.

On a home listed at $400,000, that could mean up to $80,000 more.

Do you want to market your property better, or potentially fetch a higher sale price? Keep these staging tips in mind:

Focus on important rooms. If you don’t have time or want to spend enough to stage the whole house, focus your efforts on a few rooms. NAR’s staging report shows that buyers value staging most in the living room, main bedroom and kitchen.

Let some light in. Light (particularly natural light) opens up a space and makes it appear larger, so focus on light-reflecting colors and lightweight drapery. You can also add a few carefully placed mirrors to reflect even more light.

Consider the use of the room. You want buyers to envision themselves in the home, so focus on what each room is used for when staging. Show them what life could be like if they purchase the home: Set the table in the dining room, add a cozy throw blanket to the living room sofa, and turn on the reading lamps by the bedside.

Don’t forget outdoor spaces. Curb appeal is important, too. Spend time arranging your front door and porch, cleaning up the yards and making your home look more welcoming.

Keep it simple. Be wary of staging your home with too-trendy decor. Minimalist, neutral palettes are timeless, and they’ll ensure your home appeals to everyone who steps foot in it.
Want help selling your property? Get in touch so we can work together to make it stand out from the competition.

Ready to sell? Call me!

06/24/2022

Check out this beautiful home located in the up and coming town of Harper, TX!!! Call me and let's go look at it!!!

06/21/2022

Can You Cancel Your Home Equity Loan?
Yes, but you have three days
By MATT RYAN WEBBER Published May 04, 2022
Fact checked by TIMOTHY LI
A home equity loan—also known as an equity loan, a home equity installment loan, or a second mortgage—is a type of consumer debt. Home equity loans allow homeowners to borrow against the equity in their homes.

This type of loan is relatively easy to arrange, because it is a secured debt. When you apply, your chosen lender runs a credit check and orders an appraisal of your home to determine your creditworthiness and the combined loan-to-value (LTV) ratio. They will then send you a credit agreement, which you sign and return.

At this point, you have three days during which you can reconsider and cancel the loan. The Truth in Lending Act (TILA) protects this right, and it is provided on a no-questions-asked basis. Your lender must give up their claim to your property, and they must refund all the fees that they have charged.

In this article, we’ll look at when and how you can cancel a home equity loan.

KEY TAKEAWAYS
Your right to cancel a home equity loan within three days of signing the credit agreement is federally protected.
If you want to cancel within that time frame, your lender must return any money that you’ve given them and must give up their claim to your property.
The three-day period starts when you receive a Truth in Lending Act (TILA) disclosure and two copies of the TILA notice.
You have until midnight on the third day to cancel, excluding Sundays and public holidays. You must tell your lender in writing that you want to cancel.
This right doesn’t apply to some types of mortgage, and even some types of home equity loan are excluded. There are other rights to cancel provided by state and federal law.
The Three-Day Cancellation Rule
The right to cancel the refinancing of a mortgage is technically known as the right of rescission and was established by the TILA. It was created to protect consumers from unscrupulous lenders, giving borrowers a cooling-off period and the time to change their minds.1

Not all mortgage transactions have the right of rescission. The right of rescission exists only on home equity loans, home equity lines of credit (HELOCs), and refinances of existing mortgages in which the refinancing is done with a lender other than the current mortgagee. It doesn’t apply to vacation homes or second homes.1

The rule states that you have three business days, including Saturdays but not Sundays, to cancel the loan. Day one begins after all of these things have happened:

You sign the loan at closing, and
You get a TILA disclosure form with key information about the credit contract—including the annual percentage rate (APR), finance charge, amount financed, and payment schedule—and
You get two copies of a TILA notice explaining your right to cancel
If you didn’t get the disclosure form or the two copies of the notice—or if the disclosure or notice was incorrect—then your lender hasn’t fulfilled their obligations under TILA. In that case, you may have up to three years to cancel.

If you cancel the loan within the three-day period, then your home is no longer collateral and can’t be used to pay the lender. Your lender also must refund you all of the fees that they’ve charged; that includes application fees, appraisal fees, or title search fees, whether paid to the lender or to another company that is part of the credit transaction. The lender has 20 days after you cancel to refund these fees and release your home.

If you received money or property from the lender, you can keep it until the lender shows that your home is no longer being used as collateral and returns any money that you’ve paid. Then, you must offer to return the lender’s money or property. If the lender doesn’t claim the money or property within 20 days, then you can keep it.2
If you cancel a home equity loan within the three-day period, your lender gives up their right to your home immediately. They have 20 days to refund you for any fees that they’ve charged.2
Calculating the Third Business Day
Be careful when you work out when the end of your cancellation period is. You must receive the TILA disclosure and two copies of the TILA notice. Until you receive all of these documents, the three-day period hasn’t started. If you receive the notice a few days after closing, the countdown starts then. You have up until midnight on the third day to cancel, excluding Sundays and public holidays.

For example, if the closing happens on a Friday, and if that was the last thing to happen, you have until midnight on Tuesday to cancel. But if you received your TILA disclosure form on Thursday and you closed on Friday, but you didn’t receive two copies of the right-to-cancel notice until Saturday, then you have until midnight on Wednesday to cancel.

Your lender can’t begin to take action on the loan until this three-day waiting period has passed. They can’t send you the money (except in escrow) or provide services. If you are using the loan to fund home improvements, you are not allowed to pay contractors or begin work until after the period has passed.3
How to Cancel Your Home Equity Loan
To cancel your home equity loan, you must inform your lender in writing. You must deliver or mail your written notice before midnight on the third day, and you can’t cancel by phone or in face-to-face conversation. If you are mailing a written notice, make sure that you send it as registered mail so you have a record of when you mailed it.

Ask your lender to confirm that they have received your cancellation notice, and keep a record of the date when they did so. They have 20 days from this date to return any money that you’ve paid them.2
Are there exceptions to the three-day cancellation rule?
Yes. In some cases, the rule doesn’t apply. This includes when:

You apply for a loan to buy or to initially build your main residence
You refinance your mortgage with the same lender who holds your loan and you don’t borrow more funds (but if you borrowed additional money, then the rule applies and you can cancel)
A state agency is the lender for a loan
Will I owe any money if I cancel a home equity loan?
No. The Truth in Lending Act (TILA) states that as long as you cancel within the three-day period, your lender must give up their claim on your property and must return any money that you’ve paid them. They have 20 days to do this.

Can I waive my right to cancel?
Yes. If you need the money immediately—because, for example, your home has been damaged by a storm—then you can waive your right to cancel. To do this, you must give the lender a written statement describing the emergency and stating that you are waiving your right to cancel. The statement must be dated and signed by you and anyone else who also owns the home.

The Bottom Line
You have a federally protected right to cancel a home equity loan within three days of signing the credit agreement. If you do so, your lender must return any money that you’ve given them and must give up their claim to your property. This three-day period starts when you receive a number of documents: a TILA disclosure and two copies of the TILA notice. From this point, you have until midnight on the third day to cancel, excluding Sundays and public holidays. You must tell your lender in writing that you want to cancel.

This right doesn’t apply to some types of mortgage, and even some types of home equity loan are excluded. There are other rights to cancel provided by state and federal law.

06/17/2022

f you're a homeowner thinking about selling your house, you're probably looking for the best time to make your move. That means you're likely balancing a number of factors, like your changing needs, where you'll go when you sell, and today's mortgage rates in order to time it just right.

According to recent data, that sweet spot could already be here. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that 76% of consumers believe now is a good time to sell.

The graph below shows the percentage of survey respondents who say it's a good time to sell a house. The big dip in March and April of 2020 reflects how consumer sentiment dropped at the beginning of the pandemic as uncertainty about the health crisis grew. Since then, the percentage has grown consistently as more people feel confident it's a good time to sell.

In fact, survey respondents think it's an even better time to sell a house today than they did in 2019, which was a strong year for the housing market. The latest survey results indicate one of the strongest peaks in seller sentiment in nearly three years (see graph below):

A Majority of Consumers Say It's a Good Time To Sell Your House | MyKCM

What Makes Today a Good Time To Sell?
One reason so many people think it's a good time to sell is because there are still more buyers in today's market than there are homes for sale. That's driving home prices up, making it a good time to sell your house.

And if you're on the fence about whether or not to sell because you don't know where you'll go once you do, know that you might have more options today than in previous months. That's because the number of homes coming onto the market has grown each month since the start of the year. When more homes come onto the market, it gives you more opportunities to find one that meets your changing needs.

Bottom Line
While the number of homes available for sale is growing and giving you more options for your move, inventory is still low overall. That could mean it's a great time for you to sell. If you're ready to address your changing needs and take advantage of today's favorable conditions, let's connect.

06/16/2022

If you’re a homeowner thinking about selling your house, you’re probably looking for the best time to make your move. That means you’re likely balancing a number of factors, like your changing needs, where you’ll go when you sell, and today’s mortgage rates in order to time it just right.

According to recent data, that sweet spot could already be here. The latest Home Purchase Sentiment Index (HPSI) by Fannie Mae finds that 76% of consumers believe now is a good time to sell.

The graph below shows the percentage of survey respondents who say it’s a good time to sell a house. The big dip in March and April of 2020 reflects how consumer sentiment dropped at the beginning of the pandemic as uncertainty about the health crisis grew. Since then, the percentage has grown consistently as more people feel confident it’s a good time to sell.

In fact, survey respondents think it’s an even better time to sell a house today than they did in 2019, which was a strong year for the housing market. The latest survey results indicate one of the strongest peaks in seller sentiment in nearly three years (see graph below):

A Majority of Consumers Say It’s a Good Time To Sell Your House | Simplifying The Market

What Makes Today a Good Time To Sell?

One reason so many people think it’s a good time to sell is because there are still more buyers in today’s market than there are homes for sale. That’s driving home prices up, making it a good time to sell your house.

And if you’re on the fence about whether or not to sell because you don’t know where you’ll go once you do, know that you might have more options today than in previous months. That’s because the number of homes coming onto the market has grown each month since the start of the year. When more homes come onto the market, it gives you more opportunities to find one that meets your changing needs.

Bottom Line

While the number of homes available for sale is growing and giving you more options for your move, inventory is still low overall. That could mean it’s a great time for you to sell. If you’re ready to address your changing needs and take advantage of today’s favorable conditions, let’s connect.

06/15/2022

You’ll probably want to improve your home at some point.

It might be out of necessity if you need a new roof or fence — or you might want more space or additional amenities, like an updated kitchen or a swimming pool.

Whatever the reason for your projects, you’ll likely need some help paying for them.

Are you planning to make some improvements around the house soon? Here are four ways to cover the costs.

Home Equity: You can leverage your home equity to cover home improvements. Among your options are a home equity loan, cash-out refinance and home equity line of credit (HELOC). The latter, which functions more like a credit card, is a good option if you’re not sure how much you need or if you need cash over an extended period.

Cash Savings: This can be a great way to pay for any home repairs or updates — just make sure you’re not draining your emergency fund. You should always have a healthy amount of savings as a homeowner so that you’re ready for maintenance, repairs and other expenses even if you hit a financial snag.

Home Remodeling Loans: Renovation and remodeling loans are designed just for this purpose. You can use them to cover repairs, updates and other improvements, then pay the costs back over time as with any other type of loan.

Credit Cards: These should be a last resort, since credit cards typically come with higher interest rates than other financing options, like loans and lines of credit mentioned above.
Are you considering buying a new property instead of doing updates? Or do you need a referral to a trusted loan expert? Get in touch today for assistance.

06/09/2022