Two Minute Tip Tuesday
By Jason Gelios REALTOR®
5 min. read
This past week Freddie Mac announced a new mortgage product that will allow home buyers to also include the renovation costs in one loan with the purchase price. This will allow home buyers to have more options when looking at homes that are older and in need of repair or renovation.
For example, if you purchase a home for 100k and you need 10k for renovation/repairs, your new loan would be 110k.
It may sound simple but this option was not offered before in this capacity. Sure the FHA 203k has been around helping people achieve almost the same thing. But many people were not fans of that mortgage option due to the many hurdles it came with,
This new mortgage named CHOICERenovationSM will give also help sellers reach potential buyers that would otherwise not be interested in a home if it need some work.
So why this new mortgage?
Well, this type of loan has been introduced to address the aging homes that are out in the market. Many homes are older and in need of work that most sellers will not complete just to sell there home.
I see this type of loan benefiting first time home buyers and millennial's who don't have the cash flow necessary to repair or renovate a home up front.
Reach out to me if you are looking to get into a home with this or any other type of mortgage.
Jason Gelios is an award winning top producing REALTOR® with Community Choice Realty in Metro Detroit, Michigan. Buying or selling real estate is a very important decision and probably the largest financial decision you will ever make. This can have a lasting impact on your life.
Whether you are purchasing for the first time or planning to sell your existing home, Jason will help you navigate through the entire process to keep it as simple and stress free as possible while helping you achieve your goals.
Jason Gelios is well supported by a team of financial and legal experts, qualified home inspectors, appraisers and other professionals if needed. "I’m confident you will enjoy my professional and enthusiastic style of doing business and my knowledge of the real estate market!"
Two Minute Tip Tuesday
in this quick video I share a popular scam that target all home owners.
Lawn Care Tips for Each Season
By: Douglas Trattner
Ahhhh, that sensation of stepping onto a freshly-mowed lawn sans footwear. There’s nothing like it. Especially when you realize that a lawn you love is also one that'll pay you back when you sell.
A well-maintained lawn almost always returns 100% or more of your investment.
Here are lawn care tips to ensure you've got a lush lawn from spring to fall.
Lawn Care Tips
Like so many maintenance jobs, everything goes smoother -- and you’ll get better results -- with proper preparation. It's one of the basics of lawn care.
Sharpen mower blades to ensure clean cuts. A dull blade tears the grass, leaving jagged edges that discolor the lawn and invite pathogens.
Sharpen mower blades once each month during grass-cutting season. Have a backup blade (about $20) so that a sharp one is always on hand.
Tune up your mower with a new sparkplug ($3 to $5) and air filter ($5 to $10). Your mower might not need a new sparkplug every season, but changing it is a simple job, and doing it every year ensures you won’t forget the last time you replaced your sparkplug.
Buy fresh gas. Gas that’s been left to sit over the winter can accumulate moisture that harms small engines. This is especially true for fuel containing ethanol, so use regular grades of gasoline. If you need to dump old gasoline, ask your city or county for local disposal sites that take old fuel.
Clean up your lawn. Time to get out the leaf rakes and remove any twigs and leaves that have accumulated over the winter. A thick layer of wet leaves can smother a lawn if not immediately removed in early spring. Cleaning up old debris clears the way for applying fertilizer and herbicides.
Depending on your weather, your grass will now start growing in earnest, so be ready for the first cutting. Don’t mow when the grass is wet — you could spread diseases, and wet clippings clog up lawn mowers.
Fertilizing: Both spring and fall are good times to fertilize your lawn. In the northern third of the country, where winters are cold, fertilize in fall — cool weather grasses go dormant over winter and store energy in their roots for use in the spring.
For the rest of the country, apply fertilizer just as your grass begins its most active growth. For best results, closely follow the application directions on the product. You’ll spend about $50 to $75 per application for an average 1/4-acre lot.
Aeration: Aerating punches small holes in your lawn so water, fertilizers, and oxygen reach grass roots. Pick a day when the soil is damp but not soaked so the aeration machine can work efficiently.
Pre-emergent herbicides: Now is the time to apply a pre-emergent herbicide to prevent crabgrass and other weeds from taking root in your lawn. A soil thermometer is a handy helper; you can pick one up for $10 to $20. When you soil temperature reaches 58 degrees — the temperature at which crabgrass begins to germinate — it’s time to apply the herbicide.
Watch out for grubs: Warm weather means that grub worms, the larvae stage of June, Japanese, and other beetles, start feeding on the tender root systems of lawns. Affected lawns show browning and wilting patches.
To be certain that the culprits are grubs, pull back the sod and look for white, C-shaped grubs. If you see more than 10 per square foot, your lawn should be treated with a chemical pesticide.
Milky spore is an environmentally friendly way to control some species of grubs. When using insecticides, read and follow all label directions, and water the product into the soil immediately. Cost is around $50 to $75 per application.
Grass-cutting tip: Your grass is starting to grow fast, and you might even be cutting more than once a week to keep up. To keep grass healthy, mow often enough so you’re removing no more than 1/3 of the grass blade.
Pesky weeds: Weeds that have escaped an herbicide application should be removed with a garden fork. Use a post-emergent herbicide only if you think the situation is getting out of hand.
Here’s a good mantra to guide you through the heart of grass-mowing season: The taller the grass, the deeper the roots, the fewer the weeds, and the more moisture the soil holds between watering.
With that in mind, here’s how to ensure a healthy, green lawn:
The best time to patch bare or thin spots is when the hot, dry days of summer have given way to cooler temps. Follow these simple steps:
Your main job in fall is to keep your lawn free of leaves and other debris. You can use a mulching mower to break up leaves and add the organic matter to your soil, but be sure to clean up any clumps so they don’t kill the grass.
In the northern one-third of the country, now is the time to fertilize your lawn. Your grass will store the nutrients in its roots as it goes dormant over the winter, and your lawn will be ready for a jump start when spring warms the ground.
Should you co-sign for a mortgage?
Co-signing on a mortgage can be a touch decision. Especially if it is for your child or family member. Bee sure to watch the video below to get the pro's and con's of doing so.
Jason Gelios is a Husband and Father. After that, a Top Producing REALTOR®, Author of the books 'Think like a REALTOR®' and 'Beating The Force Of Average', Creator of The AskJasonGelios Real Estate Show and Expert Media Contributor to media outlets across the country.