heating Archives - Hanover Mortgages

Apache is functioning normally

May 29, 2023 by Brett Tams

As we head into the heart of winter, there’s nothing more romantic than curling up in front of a beautiful fireplace, am I right? I certainly have fireplaces on the brain right now. We’re lucky enough to have four – count them – four fireplaces in our new/old house. Yes, that sounds excessive to me too, but it was the only way the house was heated for I don’t even know how many years (though we do have central heating now, thank goodness). I’ve never designed a fireplace before, let alone four so I’m trying to figure out what the heck to do! I’ve gathered my top seven inspiration images to give you a sense of where I’m currently headed.

Our dining room, living room, master and guest bedrooms will each feature a fireplace. Very cool? Yes. A touch overwhelming? Absolutely! Two of the fireplaces will be entirely decorative – our dining and guest bedroom. The other two will feature gas inserts. Regardless of their function or lack thereof, I still want to pay homage to the heritage of the house and create some stellar focal points. But there are so many variables to consider. There’s scale, size, the types of materials you use, any decorative elements, what the hearths should look like…the options are rather endless I’m afraid.

After scanning reams of Pinterest pages and doing some Google image searches I have begun to zero in on the general look I think we need to go for. I’m particularly drawn to 19th century Louis XV style mantels. Their curvature is so sexy! The designs often featured ornate carvings and some sort of crest at the center. But then again, stately English styles that featured a cleaner square design are also rather fetching. They certainly lend themselves to my more minimalist aesthetic. So then I’m torn. I do know that our original fireplaces also featured arched openings so I think at least one or two will need to have that design element.

With the clock ticking down on our remodel, it’s time to go into decision mode. I’d love to hear which fireplace you love the best. And if you happened to dealt with putting new fireplaces into old houses please share any tips or tricks you might have! I’ll be sure to compile all the knowledge and share it back out.

If you missed any of our remodel updates CLICK HERE

If you’re curious about the before pictures CLICK HERE

If you want to see more of my design inspirations CLICK HERE

What I’ve learned about renovating an old house CLICK HERE

image 1 via // 2, 3 via vogue.com // 4 via // 5 via // 6 via new york times // 7 via pinterest

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Source: apartment34.com

Apache is functioning normally

May 27, 2023 by Brett Tams

A 15-time Grammy Award-winning singer/songwriter/producer, not to mention best-selling author, entrepreneur and The Voice judge, Alicia Keys is a trailblazer.

With a thriving career that spans more than two decades, the Empire State of Mind singer is one of the biggest names in the music industry. And her personal life is equally full of achievements.

Back in 2010, she married record producer/rapper Swizz Beatz (by his real name, Kasseem Daoud Dean), and the two welcomed two children to the family: Egypt Daoud and Genesis Ali Dean.

So it only makes sense that this exceptional artist lives in a house that’s just as impressive as her neverending list of trophies and awards.

exterior view of Alicia Keys' house, known as the Razor House — ^{Alicia Keys’ house in La Jolla, California. Credit: Gary Kasl courtesy of The Agency}

In 2019, Grammy Award-winning singer Alicia Keys and husband Swizz Beatz paid $20.8 million for a striking cliffside mansion in San Diego’s upscale La Jolla neighborhood.

The high-profile purchase even made its way to our TV screens, as part of Bravo’s Million Dollar Listings LA show, which brought the already-famous property back into the spotlight.

The one-of-a-kind architectural masterpiece — widely known as The Razor House — has been getting people talking since it was first designed in 2007 by San Diego-based architect Wallace E. Cunningham.

The imposing concrete and glass mansion is perched on the edge of a cliff overlooking the Pacific Ocean.

And while many have been dubbing it ‘the Iron Man house’ due to its resemblance to Tony Stark’s house, it may be time for a new nickname that suits its famous owners better.

singer alicia keys and husband swizz beatz, the owners of the razor house — ^{Alicia Keys and Swizz Beatz, the famous owners of the Razor House. Image credit: Georges Biard, CC BY-SA 3.0, via Wikimedia Commons}

A closer look at Alicia Keys’ house, an architectural marvel overlooking the ocean

The modern cliffside mansion was designed by AD100 architect Wallace E. Cunningham, most famous for his striking residential projects, which he likens to sculptures.

More specifically, as the architect himself put it, he designs “one-of-a-kind sculptures for people to live in.”

SEE ALSO: Drake’s House in Toronto, the Star of his ‘Toosie Slide’ Video, Is Peak Luxury

And that couldn’t be more true for some of his iconic residential projects: the Harmony House and the Wing House in Rancho Santa Fe, and the architecturally distinct Razor House that Alicia Keys and Swizz Beatz now call home.

the razor house alicia keys home — ^{Alicia Keys’ house in La Jolla, CA, known as The Razor House. Credit: Gary Kasl courtesy of The Agency}

Perched on the edge of a cliff overlooking the Pacific Ocean, the concrete and glass structure has long been rumored to be the real-life version of Tony Stark‘s futuristic mansion.

But the home has never made an appearance in any blockbuster movie.

It was, however, used for a VISA Black commercial and a luxurious Calvin Klein ad, but that’s pretty much all the screen time the mansion got.

That’s a shame because the house itself is worthy of the biggest screens on earth.

Nearly every wall in the residence is glass, while the floors are mostly hewn from travertine stone. An extra-long infinity pool (one of many) juts out over the cliff’s edge, turning swimming into the stuff dreams are made off.

Front-facing view of Alicia Keys' home, made out of glass and concrete — ^{Front-facing view of Alicia Keys’ home. Credit: Gary Kasl courtesy of The Agency}

Swizz Beatz and Alicia Keys’ house has endless concrete terraces that make the most out of the mesmerizing views of surrounding hills and the ocean below.

The three-story home comes with 6 bedrooms and 6.5 baths, with nearly every room opening up to stunning views.

SEE ALSO: Lizzo’s house in Los Angeles, a $15M luxe ‘treehouse’ with a celebrity past

circular sofa with ocean views inside Alicia Keys house — ^{Inside Alicia Keys’ house. Credit: Gary Kasl courtesy of The Agency}

Bedroom with glass walls and ocean views inside Alicia Keys' house — ^{Bedroom with ocean views inside Alicia Keys’ house. Credit: Gary Kasl courtesy of The Agency}

Fashioned with a state-of-the-art kitchen and giant round living room anchored by a fireplace, Alicia and her music producer husband, Swizz Beatz, have everything they need to unwind with their sons, Egypt and Genesis, including several outdoor lounge areas.

Inside Alicia Keys' house, La Jolla, CA. — ^{Inside Alicia Keys’ house, La Jolla, CA. Credit: Gary Kasl courtesy of The Agency}

SEE ALSO: Where does Adele live? A look at the $58M ‘house that Rocky built’

Among its most notable amenities, the Razor House lists: an extensive fitness space, two steam rooms, a den, a theater, and a library with a custom-made Ralph Lauren pool table.

The Razor House was initially listed for $30 million

Initially listed for sale in 2018 for $30 million, La Jolla’s most famous home took a little over a year to make a buyer fall in love with it up to the point of committing enough to put a ring around…. those house keys.

But when it did, it nabbed more than just a nice selling price and some very famous new owners.

Putting an end to the property’s year-long run on the market, Alicia and her powerhouse music producer husband Kasseem Dean, better known as Swizz Beatz, purchased the Razor House for a cool $20.8 million.

The $20M+ selling price (despite being a considerable drop from the initial asking) made it one of the most expensive homes sold in La Jolla, California in 2019 — proving once again that whatever Alicia Keys does, she does in style and ready to set new records!

Neither Alicia Keys nor Swizz Beatz (who has produced hit singles for the likes of Kanye West, Jay-Z and Beyoncé) had any connection to La Jolla or the larger San Diego area when they bought the home, leading people to speculate that the iconic residence will serve as a vacation home for the couple.

But a tour given to Architectural Digest in late 2021 proved them wrong.

Not only do Alicia Keys and Swizz Beatz live in the Razor House, but they’ve turned it into an elegant, art-filled, inviting home. Take the tour:

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The history of the Razor House before it became Alicia Keys’ home

According to the San Diego Reader, the futuristic structure was named after the land it sits on, a three-quarter-acre lot near Razor Point.

Created for original owner Don Cooksey (a software designer and entrepreneur who later filed for bankruptcy) many architects initially backed away from the ambitious project, calling it “rebuildable”.

That’s until Cooksey approached Wallace E. Cunningham, who bought the modernist gem to life — and built the dramatic estate to match the breathtaking landscape that surrounds it.

By 2011, following the financial hardships of its initial owner, The Razor House ended up in bankruptcy sale.

According to Realtor.com, Donald Burns, a Florida-based telecom entrepreneur and inventor of the magicJack — a device that allows you to make calls from your computer — purchased the property as a second home at the 2011 bankruptcy sale.

Burns paid $14,097,000 for the home and invested heavily in the property.

“He made a lot of upgrades to it,” Matt Altman, one of the property’s listing agents and star of reality TV show Million Dollar Listing Los Angeles said.

“He updated to the next level. He wasn’t doing this to make money; he was doing this to make a nice home. He did a significant amount of work on this house.”

The entire home is automated and optimized for iPad control of everything from audio and visual systems to motorized window coverings and control of the home’s radiant floor heating, air conditioning.

There’s also a backup generator to ensure power never goes down, and an entire computer room is dedicated to housing the home’s automation control systems. So basically, The Razor House may not be Iron Man’s house, but it does comes with its own Jarvis.

*This article was first published in September, 2019, reporting on the famous couple’s purchase of the home. It has since been updated for timeliness and accuracy.

More celebrity homes

Travis Scott’s House is a $23.5M Ultra-Modern, Yacht-Inspired Mansion
Where Does Lady Gaga Live? Check Out Her ‘Gypsy Palace’ in MalibuZendaya Owns a $4 Million Home Fit for a Disney Princess
Chrissy Teigen and John Legend’s house in Beverly Hills

Source: fancypantshomes.com

Apache is functioning normally

May 27, 2023 by Brett Tams

Some reader stories contain general advice; others are examples of how a GRS reader achieved financial success or failure. These stories feature folks with all levels of financial maturity and income.

Mark Ferguson has been a Realtor since 2001 after graduating from the University of Colorado with a business finance degree. He runs a real estate team of 10 that sells over 200 homes a year, fix and flips 10 to 15 homes a year and owns 11 rental properties. Mark also runs www.investfourmore.com, a blog that discusses Mark’s fix and flips, rental properties, becoming a real estate agent and everything real estate related.

Many television shows portray fix and flipping as a very profitable business that can easily be done in your spare time. Sure there are usually a few contractor problems, but in the end the house sells for a lot of money and the owners make a killing. In reality, you can make money fix and flipping homes, but it takes a lot of hard work and a lot of flipping to make a lot of money. It is also very easy to lose a lot of money if you do not account for all the costs or overestimate the value of your flip.

I have been a Realtor since 2001, and I have fix and flipped close to 100 homes over the last 10 years. I have 10 fix and flips going right now, and I can tell you it is not easy managing one fix and flip let alone 10! It takes a lot of money to fund fix and flips, more time than you think to sell a flip, a lot of experience to deal with repairs and contractors, and expenses are almost always more than you figure.

If you buy houses cheap enough with enough of a margin for error, you can make good money fix and flipping homes — but don’t expect to be a millionaire after a year or two in the business.

Are the Television Shows Accurate in Their Portrayal of the Flipping Business?

Most fix and flip television shows love to show the before and after pictures of a flip with the initial purchase price and the selling price at the end. There are a couple of shows that portray the expenses accurately, but most leave out many of the costs that flippers encounter. In the fix and flip business, many investors use the 70 percent rule to determine if they can make a good profit when they flip a home.

The 70 percent rule states the purchase price should be 70 percent of the after-repaired-value (ARV) minus the cost of any repairs. For example, if a house will be worth $150,000 after it is repaired and it needs $30,000 in repairs, the 70 percent rule states an investor should pay $75,000 for that house. Buying a house that will be worth $150,000 for $75,000 seems like a home run, but it is really just an average deal because there are so many costs associated with flipping.

What Costs are Involved in Fix and Flipping Homes?

The obvious costs involved in flipping are the purchase price of a home and the repair costs. In our example, there appears to be $45,000 in profit once you include the selling price and the repairs but there are many more expenses that many beginners do not consider.

Financing costs: Most people do not have $75,000 plus the costs of repairs and carrying costs to buy a flip. It is more expensive to finance a flip because banks make their money off interest paid on loans. The shorter time you hold a loan, the less money a bank will make. Most large banks will not finance flips, but some local lenders will. Hard-money lenders will fund flips, but they are very expensive, charging 12 to 16 percent interest rates plus 2 to 4 percent of the loan amount for origination fees. A hard-money lender is a not a bank but a company that takes money from investors at a given interest rate. The hard-money lender then lends that money to fix and flippers at a much higher interest rate.
Carrying costs: When you own a house, you have to pay for the lawn care, heating, insurance, taxes, HOA and more while you own the home.
Purchasing costs: Besides the loan origination costs, there are some other costs to consider when buying a flip. A home inspection will run $300 to $800. Some lenders will require an appraisal, which is $400 to $600. There will be a closing fee, recording fees, tax certificates and much more.
Selling costs: When you sell your house, you will most likely have to pay a real estate agent to sell the flip and possibly cover closing costs for a buyer. The real estate commission and closing costs can add up to be 10 percent of the sale price.
Miscellaneous costs: Depending on where and how you buy your property, it may have a tenant or the previous owner may still be living in it. You could have eviction costs or costs to pay the occupants to leave.

Here is an example of what the total costs would look like on a typical fix and flip I buy and sell. I have a great lender who charges me 5.25 percent interest rate and 1.5 percent origination, but they only lend on 75 percent of the purchase price. My loan costs are much lower than most flippers’.

Purchase price: $75,000

Loan amount: $56,250

Costs:

Loan costs: $2,500

Carrying costs: $1,600

a. Insurance: $400
b. Lawn maintenance: $300
c. Taxes : $400
d. Utilities: $500

Buying costs: $1,000 (I usually do not do an inspection or have an appraisal)

Repairs: $30,000

Selling costs: $7,000 (Since I am a Realtor, I only pay the buyer’s agent commission. I list the house myself and do not have to pay a listing agent.)

Miscellaneous: $5,000

Total costs: $47,100

If I sold the house for $150,000, my profit would be $27,900. That is a decent profit, but I want to make at least $25,000 on each flip because of the risk involved and the money I put into them. On this flip, I would need at least $50,000 of my own cash for the down payment, carrying costs and repairs. Beginning flippers could easily spend three times as much for financing costs and another $4,500 to pay a listing agent. That cuts the profit to under $20,000 for a house that sells for twice as much as it was purchased for. The next time you watch a fix and flip show, see how many of these costs they actually tell you about!

Will You Make More Money Fix and Flipping More Expensive Homes?

It is true that the profit potential goes up when you flip more expensive homes. However, there are many more risks involved when flipping expensive houses.

The repairs will be much more expensive because buyers will demand higher quality.
It takes longer to sell more expensive houses and your carrying costs will be higher.
The carrying costs will be higher due to HOAs, more maintenance needed, higher taxes, etc.
You will need more cash because down payments, carrying costs and repairs will be higher.
All your money is in one house instead of multiple homes, increasing the risk if something goes wrong.

The biggest problem with flipping more expensive homes is that the difference between the buy price and sell price is massive. Using the 70 percent rule, a house with a $500,000 ARV would have to be bought for $300,000, if it needed $50,000 in work ($500,000*.7-$50,000=$300,000). It is very hard to find a deal that has such a large difference between the ARV and the purchase price because an owner-occupant buyer would be willing to pay much more for the house. The owner-occupant can pay $400,000, put $50,000 into the house and still have a great deal. In the more expensive market, it is much more likely owner-occupants will have the cash to put into homes.

How Long Does it Take to Fix and Flip a House?

From start to finish, my goal is to have a flip for four months from the time I buy it to the time I sell it. I almost never hit that number because there are so many unknowns. The biggest delay I have is finding good contractors, especially when I have 10 properties at once. It takes me a couple of weeks to get a contractor started on the work, about a month for the work to be done, about three weeks for the home to be on the market before a contract is accepted and yet another month for the escrow/closing process — if everything goes perfectly.

Unfortunately, it often takes longer for the contractor to make repairs. We inevitably see a few things the contractor missed and they have to go back to the home to take care of those items. Then we have to line up cleaners and get the home listed. Sometimes it takes three weeks to get a good offer; sometimes it’s just one week, but it could just as easily be two months. In addition, the escrow process can vary from one month to sometimes two months. Now that I have so many houses and not enough contractors, I am looking at almost nine-month turn times on some of my properties.

Is All the Hassle Worth it When Fix and Flipping Homes?

After looking at all the costs and everything that has to be accounted for, it may seem a bit intimidating to flip a home. Especially when you consider we have not even talked about how to find a fix and flip that can be bought cheap enough to make money. Just like anything in life, it takes time to learn what you are doing and feel comfortable. I still am learning new techniques to find properties and finding better ways to fix and flip homes.

After you learn the business, it can be a lot of fun. I still get excited whenever I get a new deal under contract, almost as excited as when I sell one for a nice profit. Over the last two years, I have averaged about a $35,000 profit on each of my fix and flips. I completed 10 flips last year and should complete (buy, fix, sell) over 10 this year. On most flips, I make around $30,000 in profit; but once in a while, I will make more, like this property that I made over $50,000. In the last 13 years of fix and flipping homes, I have made over $100,000 twice on a single flip. My success has not come from making a huge profit on one or two flips a year, but on consistently making modest profits on multiple homes. There is much less risk flipping many lower priced homes than flipping one expensive home.

The best part about this business is that I do not flip full time. I run a real estate team of 10 and my primary job is running that team and selling houses. Once you set yourself up correctly with the right contractors, the right financing, enough of your own money and experience, the business does most of the work itself. It is not easy to get to that point and it takes a lot of time and reinvesting money back into the business.

How Do You Find a Great Deal to Fix and Flip?

Finding a great deal is the key to making money in the fix and flip business. I used to buy 90 percent of my fix and flips at the public trustee foreclosure sale. These houses were sold in as-is condition for cash, and many times the inside of the house could not be viewed or homes were occupied. When I bought a home at the trustee sale, I had no inspection period and no way to back out once the property was purchased. In the last two years, the competition at the trustee sale has increased and I have not purchased any homes from that sale in over a year. In fact, I do not even go to the sale anymore because people are paying close to the amount you could buy a house for on the MLS. When I buy on the MLS, I get to have an inspection done, I can use a loan to buy the property, and I don’t have to deal with any occupants.

Almost all of my deals are bought on the MLS now. There are a few tricks to getting a great deal, but it is not easy with rising prices and competition.

Act fast: I make offers within hours of homes being listed.
Become an agent: One of the reasons I can act so fast is that I write the offer, set up a showing and I do not have to wait on an agent.
Look for properties that need work: The more problems a property has, the more potential profit there is. Make sure you know how to fix the problems and how much it will cost!
Look for properties that have been on the market over 90 days. The sellers are more likely to accept low offers on these homes. If they are grossly overpriced, I do not even bother.
Make offers on homes that come back on the market quickly. I can set up MLS alerts to tell me when a house in a certain price point comes on the market or comes back on the market after a contract falls apart. Many times the great deals that need work have contracts that fall apart because buyers don’t realize how much work is needed until their inspection.

There are other ways to get great deals such as direct marketing to sellers who do not have their properties for sale or finding wholesalers who sell cheap properties to investors.

What Should You Avoid if You Decide to Start Flipping Homes?

If you have decided you want to give flipping a try, here are some tips to keep you from losing too much money on your first try.

Only do the repairs yourself if you know what you are doing and have time to complete them. Many flippers try to save money by doing the work themselves. They don’t realize how long it takes to make repairs, especially in their spare time. It ends up taking months to fix the property and the extra time will eats up the money you thought you saved by doing the work yourself. To make the situation even worse, the work won’t be as good as if a professional did it.
Do not overestimate the value of a home or rely on values to increase to make money. Many markets have increasing prices, but that doesn’t mean they will keep increasing. A lot of flippers went bankrupt during the housing crisis because they assumed the market would keep going up. When prices stopped increasing and then decreased, they lost everything. I kept flipping right on through the housing crisis because I based values on the current market and left myself room for adjustment.
Do not overprice a home when you list it. To make money flipping, you have to sell quickly and keep your money moving from property to property. If you have a house sitting on the market that won’t sell, it is most likely overpriced. I have found that the sweet spot for a house to be on the market is three weeks and then I usually get an offer. If I don’t get an acceptable offer after 30 days, I lower the price 5 to 10 percent, depending on the activity.
Don’t try to sell a house yourself unless you are an agent. If you sell a house for sale by owner, you lose market exposure by not being in MLS. Ninety percent of buyers use a real estate agent to represent them and those agents look on MLS to find properties for their buyers. If you use a limited service company that puts the home on MLS, you still have to pay for the buyer’s agent. You are saving very little money and the buyer has representation while you do not. Who will get the better deal?
Always assume your repairs will be more expensive than you think and the flip will take longer than you think. Even if you get a bid for all the work before hand, things always pop up that you didn’t see or you couldn’t have known about.

My Worst Flipping Experience

There is a lot of information in this article and I didn’t even come close to covering every topic involving flipping houses. I hope it gives you an overview of what it is like and what it takes to flip houses. It is not about hitting a homerun on every flip, but hitting a lot of singles over and over again. I have lost money on flips before, sometimes because of things I have no control over. Since I had many flips going at once, losing money on one flip did not destroy my business — but this was the worst experience.

A couple of years ago, I bought a flip at the trustee sale. I saw the interior of the home through the windows but never got inside the house before I bought it. It was a good deal on a newer house, with little work needed and I thought I would make some easy money. After I bought the house and got the locks changed, we found a brand new BMW in the garage. I knew something very odd was going on, so we tracked down the previous owners in California (I am in Northern Colorado). They claimed the bank had foreclosed wrongly and they were going to get the house for free. They ended up filing a lawsuit against the bank a week later and we had a house we could not sell because it was involved in litigation.

The previous owners had been convinced they would get the house for free by a legal aid. We offered them $5,000 to drop the case and they would not even think of it, because they knew they would get the house for free. Long story short, the lawsuit was frivolous and thrown out by a judge as soon as he saw the case. The problem was that it took the court almost a year to look at the case even after we had hired lawyers and paid them almost $10,000 to speed up the process. After carrying costs and lawyers fees, I lost about $15,000 on that house. There was no way to know that would happen, but sometimes that’s how it works when buying houses at the foreclosure sale. That is why I prefer to have multiple low-value houses at the same time, instead of one expensive house. I was still making money and turning other properties while that house was tied up. If all my money was tied up in one house that I could not sell for a year, I could have been in serious trouble.

Conclusion

I have been in the fix and flipping business for a long time and it has been very good to me. It is not easy to get started, to find great deals, find great contractors or to get all the money needed to flip. It is not impossible either, but it does take a lot of planning and education to get started. If you want to ask any questions in the comments, I’ll try to respond as quickly as possible.

Source: getrichslowly.org

Apache is functioning normally

May 26, 2023 by Brett Tams

By Peter Anderson 12 Comments – The content of this website often contains affiliate links and I may be compensated if you buy through those links (at no cost to you!). Learn more about how we make money. Last edited August 19, 2022.

The last few years have been tough ones, with the economy going through recession, millions of people becoming unemployed and businesses going under left and right.

The economy has shown some signs of improving, but indications are we still have a lot of rough road ahead of us.

With the economy being so unsure, now is as good a time as any to start thinking about how to cut back on your regular monthly bills. For many, once you’ve cut out some of the more obvious expenditures, it doesn’t feel like there are that many other places that can be cut. The truth is, however, that most people have a lot of places that they can still cut back and save money.

Today I thought I’d look at some of the main areas of spending that people have every month – their regular monthly bills.

Often people take those monthly bills for granted, not even thinking about how they can save money on those regular expenditures, just taking it on faith that they can’t get those bills any lower.

So today’s post is all about how to save money on just about all of your regular monthly bills.

How To Save On Your Phone And Wireless Bills

There are a variety of ways that you can save on your cell phone, home phone and mobile internet charges. Here are a couple of the options that we’re using – or plan to start using in the coming year to save on our phone bills.

Landline phone service: For years we’ve had a landline because my wife prefers talking on that versus a cell phone, and also because we needed the landline for our home security system. We recently made changes that mean we can now opt for a cheaper VOIP option for our landline service. After doing some research a lot of other bloggers are talking about the Ooma phone service, which is apparently very good. All you have to do is pay upfront to buy an Ooma Telo device for around $140, which then allows you to make unlimited calls in the U.S. for free over your existing broadband connection! All you have to pay is local taxes in your area (about $4.50 for us). You can port your current landline phone number over as well, for a $39.99 fee. Read my full review of Ooma here, and my post talking about setting Ooma up here.
Prepaid Cell Phones: One way that we’ve been saving a ton of money over the years is by using prepaid cell phone service, instead of more costly contract plans. We have no contract phone service from Republic Wireless, and we pay on average about $40/month for two phones. Both of them are Android smartphones with tons of minutes and unlimited text with 1GB/data ($20/month). The only downside is the up front cost of the cell phone – it isn’t subsidized like on contract plans. There are a variety of other low cost prepaid cell services out there that many people recommend including Tello and a Gen Mobile. Check out the related content below for a full article talking about saving on your cell phone bill using prepaid services. Want to use a traditional phone service? Check out Bill Shark, BillFixers or Rocket Money to negotiate a reduction in your monthly cell phone bills.
Low Cost Hotspots: A while ago I had a need to have Internet access on the go while traveling. At the time I settled on buying a mobile hotspot from Virgin Mobile via their prepaid wireless broadband plan. You just buy the hotspot, and then pay $35/month for 1GB of data. I was in a rush so I bought the hotspot and used it while on my trip. When I got back I became aware that there are quite a few companies that offer mobile hotspots for much lower cost, or phones and phone plans that can be used as hotspots – for much less. Do your research.

Related Content

How To Save On Your Housing Costs

One place that you can save hundreds of dollars every month is in your housing costs. Most people are aware that they could probably save by refinancing, but there are other ways you can save as well.

Refinance your mortgage: The most obvious way to save on your housing costs is simply to refinance your home mortgage. Rates are so low right now, and by refinancing you can often save hundreds of dollars off of your regular monthly payment. I’m in the middle of looking for a refinance right now, and we stand to save in the neighborhood of $200-300/month.
Appeal your property taxes: A lot of people don’t realize that you can actually appeal your property taxes in many counties by appealing the county’s tax appraisal value. I have successfully appealed our value once a couple of years ago, saving $363/year. Find out how I did it below via the related content.
Get cheaper homeowner’s insurance: I go into this more in the insurance section below, but if you shop around you can often find hundreds in savings every year just by switching insurance companies. We saved almost $1000/year by doing this just a couple of months ago.
Remove mortgage insurance: If you’re paying mortgage insurance with your regular monthly payment, and you have already reached 20% equity in your home, you may want to look into having that insurance removed by your mortgage company. It isn’t there to protect you, but the bank. Often you can have it removed after getting 20% equity in the house, and in many cases it may be required that they remove it. In some cases, if you’re a high risk borrower or if you have a FHA loan, you may need to keep the mortgage insurance longer.
Downsize your house: If you’re really trying to lower your bills a sure fire way is to downsize your house. Not only will your payment go down, but your insurance, taxes, maintenance costs and other costs will go down as well. Of course any costs associated with moving also need to be taken into account.

Related Content

How To Save On TV, Movies And Entertainment

There are a lot of ways that you can cut costs when it comes to your entertainment dollar.

Shop around and sign up for deals on premium TV: First, if you’re determined to keep your premium TV because of sports or programming only available on cable, you can at least make sure that you get the best possible deal on your cable TV package. Make sure to shop around once your introductory deal runs out and you can usually end up saving hundreds every year by switching companies! Or you can use a bill negotiation service like Bill Shark, BillFixers or Rocket Money to negotiate a reduction in your monthly bills.
Cancel un-needed services: Another thing you can do is check to make sure you’re not doubling up on any services. When we were cutting back a while ago we realized that we were paying for both Netflix streaming and Amazon Prime – which has a good video streaming option. We realized most of the same TV shows and movies were available on both sources, so we canceled Netflix – saving us $7.99/month.
Cut the cord: If you’re a bit more ambitious and aren’t very particular about receiving certain channels or waiting to see content the night it airs, you might want to make this the year that you cut the cord. Cancel your cable or satellite TV packages and move to something more affordable. Instead of paying for a TV package you can use free or low cost video streaming services like Hulu or Philo, shows streamed by the networks, and more. Use a software like Playon to stream the shows directly to your TV using an existing gaming console like the Xbox One or Playstation 4, or a cheap device like the Fire TV or Roku. The options are pretty numerous, and we’ve used options like this in the past to get most of our TV entertainment. Check out the related content below for a couple of exhaustive posts on how to set this up.
Use cheap movie rental alternatives: Don’t really watch TV or movies too much – and a monthly Netflix or Amazon subscription doesn’t make sense for you? Use a cheap rental alternative like Redbox, where you can rent a new release movie for a dollar. You can often find coupon codes to get free rentals every now and then. If you rent infrequently enough for it to matter, use cheap pay per view video options on Itunes, Amazon and Xbox to rent movies without leaving the comfort of your home. Amazon often gives away free credits on social media for their MP3 and Video stores, so follow them on Twitter and Facebook to get deals!

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How To Save On Your Internet Costs

If you’re looking to save on your internet costs, the best thing you can do, similar as with TV deals, is to shop around, or use a bill negotiation company.

Search for the best deal: Find out where you can get the best deal. For us our internet options include DSL service from a couple of different companies and cable internet. You can usually find competing deals and introductory offers that you can use to hop from company to company and always have the best deal. Other times you can bundle with other services and save. It can be a pain, but it can save you a ton of money too.
Get reduced rate internet: Another thing you can do if you live in certain areas is us a free 4G internet service. Of course to do this you’d have to live in an area with good 4G coverage.

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How To Save On Insurance

The best way to save on your insurance costs is just to shop around on a regular basis. I like to do it at least every 1-2 years for my homeowner’s insurance, auto insurance, life insurance and less often for other types. We found our best deal by using an insurance broker because they were able to compare rates at multiple companies and compare quotes for us.

Within the past few weeks we shopped around for new homeowner’s insurance after the premium skyrocketed. We ended up saving almost $1000/year when we switched our homeowner’s and auto insurance to a new company. That’s not the first time we’ve been able to do that! We did the same thing about 4 years ago, comparing rates and saving over $1000 that time!

Not sure where to start in getting quotes? Check out our insurance page to get quotes from a bunch of different companies.

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Save By Getting A Better Bank Account

You may have had your old bricks and mortar checking or savings account since you were in high school, but have been noticing lately that they’ve started charging you fees for various things. You’ve also noticed that the fees for your brokerage account have gone up, and mysterious inactivity fees started popping up. Whatever the case, people often find that their bank account is no longer useful to them, and that they can save money on fees (or make more interest) by moving somewhere else.

Save money by closing old accounts: Often old accounts start charging inactivity fees for dormant accounts, or just start charging fees because they think they can get away with it. Closing an account can be a pain, but it can also save you money (and headaches) in the long run.
Sign up for better bank accounts: Signing up for a better bank account will mean not only savings because of no fees and no minimums, but also can mean you’ll end up making more money interest, cash back and other perks. For example, a while back we Chime a great online bank. We’ve saved quite a bit in account fees that we no longer pay. Our old account at a traditional bricks and mortar was charging us fees for all sorts of things, and customer service wasn’t great. We have also switched our savings account to online banks with accounts from Capital One 360 and CIT Bank Not only are we making more in interest, but the features available at those banks surpass our old bank.
Lower interest on your credit card accounts: If the interest on your credit card is getting unreasonably high, consider closing the account after signing up for a card with a lower interest rate, 0% balance transfer and no fees. Just be wary of big charges to actually transfer balances.

Different account types to consider closing if the fees or features aren’t up to snuff? Savings accounts, checking accounts, brokerage accounts, mutual fund company accounts, credit cards. Go down the list and figure out which ones just aren’t cutting it anymore.

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How To Save On Energy Bills

Saving on energy bills often can’t be done by switching to another provider because there is often only one option for water, gas or electricity in many areas. That means the savings usually has to come from being creative and saving in other ways.

Some ways to save on your energy bills:

Get a programmable thermostat: A good portion of your utility bills every month are going to come from your heating and cooling bills. By buying a programmable thermostat like the smart Nest thermostat, you can have your heat turned down at night, turned low when you’re gone and even control it remotely. They advertise an annual savings average of $173, so it may take about 18 months to pay back the $249 cost – unless you can find it for less. Other options include regular programmable thermostats which can run $50-70 or more.
Get (slightly) out of your comfort zone: Be willing to turn the temp down slightly in the winter, and up in the summer. You can save a ton of money just by turning the temp up or down even a few degrees!
Use a power saving device: A lot of the electronic devices we use these days have phantom power drain even when you’re not using them. Get around this by getting an auto-sensing power strip that will turn off all power when the unit is off, or energy saving power plugs that have on off switches for things like coffeemakers or toasters.
Save at your water heater: The water heater can account for 14-25% of your energy bills every year. Often the heat on your water heater is turned up higher than you need it to be. A temp of 120-140 degrees is hot enough, and every 10 degrees you lower it you’ll save 3-5% on your bill. Some experts say not to go below 120 degrees, however, because bacteria can grow in the tank. You can also save by putting a fiberglass insulating blanket on the water heater to save money on heat loss.
Get a home energy audit to find energy leaks: Local utilities will often come out to do a home energy audit free of charge or a small fee to help you find where your home is leaking energy. Plug up the leaks and save!
Maintain your appliances: Doing things like cleaning your AC condensor coils or changing furnace filters regularly can save you money on your energy. If you don’t, appliances can work harder than they need to, and drain more energy.

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Save On Bills By Negotiating Them

One way you can save money on your regular, recurring monthly bills is to negotiate them.

If you have the time to do a little research, and make a few phone calls you can often reduce your monthly bills by hundreds of dollars every year.

If you don’t have the time, there are quite a few companies that will do it for you, for a small cost.

Conclusion

So there you have it, how to save money on just about all your possible monthly bills. I could probably go on, but the point is there are no shortage of ways to save money on your regular monthly expenditures. You can save on your housing costs, your phone and wireless broadband costs, your insurance costs, your energy costs, your bank accounts and even on your spending on entertainment. You just have to be creative, find cheaper alternatives and cancel un-needed services.

So what ways to save on your regular monthly bills can you suggest? Tell us your money-saving strategies in the comments!

Source: biblemoneymatters.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Monitoring your credit score sounds about as appealing as writing a term paper.

But having good credit is crucial for everything from getting a loan to getting an apartment. Which means if your credit score is on the lower end, you’ll need to be proactive — not just by monitoring it, but by actively working to improve it.

The problem? There’s a lot of conflicting info out there about what you should do to improve your credit score. Which tactics will actually make a difference, versus the ones that just sound like they’ll work?

Here’s what you really need to know about improving your FICO score, which holds the key to so many financial dreams.

What’s Ahead:

1. Target Collections Accounts First

“If your credit history includes unpaid bills that are in collections, work to pay those off [first] if possible,” says Kelley Long, a member of the National CPA FinLit Commission at the AICPA.

Letting an account get so late it goes to a collections agency is never a good thing for your credit, but the good news is the credit scoring algorithms will reward you for paying these accounts in full.

With collections accounts, the key is to get everything in writing. Request a letter stating that they received your payment in full and that they will update your credit report to show this.

In some cases, a collections agency may be willing to negotiate and settle your debt for less than the full amount. Again, you’ll want to get something in writing showing that the debt was settled and the account closed. But keep in mind this kind of arrangement may appear on your credit report as a settlement, which could be less positive than if you paid in full.

Read more: When Does an Account Go to Collections, and How To Avoid It

2. Pay Off Debts That Are Close to the Credit Limit

Even if you pay your credit card bill on time, it’s never a good idea to hold a balance near the maximum limit. The magic ratio is 35%, says Kevin Gallegos, vice president of Phoenix operations with Freedom Financial Network.

“If you have a credit card with a limit of $10,000 and you owe $3,500 on it, that’s 35% utilization,” he notes. “Anything over 35% is considered high and can [negatively] impact credit scores. Over 50% will have a definite negative impact on a credit score, and a maxed-out card will very negatively impact the score.”

Read more: What’s Your Credit Utilization Ratio?

3. Get a Higher Credit Limit (If You Can)

Believe it or not, requesting a higher credit line with an existing account can actually help your credit score, says Gail Cunningham, a spokeswoman with the non-profit National Foundation for Credit Counseling (NFCC).

“Or, open a new line of credit. The idea is that you’ll owe the same amount of money but it’s against a higher credit line, thus the ratio of credit-to-debt improves,” she explains.

“This option may not help you if you’re already having credit problems, however, because it takes good credit to get more credit. If, however, your credit score is in the high 600s or low 700s and you want to improve it even more, you may be able to find a credit card that offers a good chance of approval for your credit score range.”

She adds, “I’d caution, however, that this strategy only works for a person who’s very disciplined — and knows they won’t charge more simply because they have access to a higher credit line.”

In other words, take it easy at the mall with that credit line increase.

Read more: What Credit Score Do You Need to Get Approved for a Credit Card?

4. Look for Non-Credit Accounts That Will Report Payments to the Credit Bureaus

John Ganotis, Founder of CreditCardInsider.com, makes this remarkable point: “Rebuilding your credit doesn’t always have to involve a line of credit.”

One way is to put a utility service in your name.

“Call your providers to find who reports to the credit bureaus.”

You don’t even need to go direct to the providers if you don’t want to. Experian Boost is a free service that credits you for on-time utility payments — think cellphone, internet, cable, heating, electricity, water, etc. You just connect your bank account and let Experian do the rest.

Another is to report your living expenses to the credit bureaus, including your rent.

“Experian and TransUnion now include rent payments [in assessing FICO scores] when reported through online third party services.”

Read more: Build Credit By Paying Rent

5. Avoid For-Profit “Credit Repair” Companies

Some businesses charge a hefty sum to “repair” your credit, but they can actually do more harm than good, says Carl Robins, Vice President and Mortgage Banker with PrivatePlus Mortgage in Atlanta.

“What they don’t tell the consumer is that they’re signing up for a service to improve their scores that lenders — and current underwriting guidelines for mortgage transactions — won’t accept if there are still unresolved credit disputes on their credit report.”

He adds, “They also don’t explain the cumbersome process to have unresolved disputes removed from credit reports to qualify for a home purchase or refinance their current mortgage.”

If you feel like you need help managing your credit, look towards non-profit counseling options like the NFCC.

How to Get Approved for a Credit Line with a Less-than-Perfect Credit Score

If you follow the steps above and continue to pay all your bills on time, your credit score will improve.

Unfortunately, however, it takes time. Improving your credit score from below average (mid 600s or less) to good (720 or better) may take a couple of years. If you’re hoping to buy a home or take out other new credit in the meantime, it may be a challenge.

Here are some things to keep in mind:

1. Don’t Apply for New Credit Recklessly

The credit bureaus take note every time you apply for credit, and doing it too often will further hinder your efforts to improve your credit score.

Keep in mind that there are factors other than just your FICO score that are taken into account when you apply for a credit card, such as your income and credit utilization ratio.

Avoid applying for new credit unless you absolutely need it or are confident you will be approved.

Read more: Why You Could Be Denied a Credit Card Despite Your Excellent Score

2. Work with a Community Bank or Credit Union

If your credit score isn’t what it should be, a relationship with a community bank or credit union can really come in handy.

“A banker who knows you can perhaps look behind the poor credit history,” says Charlie Crawford, President and CEO of Private Bank of Buckhead in Atlanta. “They’ll look at the big picture rather than just a score or some other stand-alone piece of information.”

Best of all, a community banker can be straight with you and let you know your chances of being approved before you actually apply. Waiting as little as a couple months while you make some tweaks to your credit usage or budget may mean the difference between being approved or denied for a mortgage, and a knowledgable banker can tell you that.

Read more: Credit Unions vs. Banks: Think Local, Save Money?

3. Consider Secured Credit

“Establishing some cash-secured credit is one way to demonstrate your ability to pay while not putting a new bank loan at risk,” says Crawford.

If your credit score is in the low 600s, you may consider a secured credit card to help you establish a new credit line and have timely payments reported to the bureaus.

A secured credit card works just like a regular credit card except you first have to deposit money in a savings account to “secure” your credit line. Most secured credit cards can be converted to traditional credit cards (and you get your security deposit back) after a period of responsible use.

Read more: When To Consider a Secured Credit Card

The Bottom Line

The road to improving your credit isn’t always easy, but it’s well worth it. Consumers with good credit scores pay thousands less in interest over their lifetime and avoid hassles when getting jobs, apartments and, of course, loans.

Featured image: Nataliealien/Shutterstock.com

Apache is functioning normally

May 25, 2023 by Brett Tams

IMB Wanted; 1% Down, Compliance Products; Training and Webinars Next Week; STRATMOR on Brokers

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IMB Wanted; 1% Down, Compliance Products; Training and Webinars Next Week; STRATMOR on Brokers

By:
Rob Chrisman

2 Hours, 50 Min ago

My notes from the MBA’s conference this week continue, including talk about new home sales being +4.1 percent for the month (+11 percent year over year, bringing a smile to builders everywhere). Although most of the focus of the conference was on the secondary markets (although let’s face it, there isn’t a plethora of new investors or products), the primary markets continue to be a discussion topic. Some lenders have seen LOs move into the broker world, some have seen them come back. The transition to being a broker is not always “rainbows and unicorns.” It appears to have better “top line” revenue but what about the “bottom line” when a shop has to pay for their own benefits, marketing, IT support, etc. (STRATMOR has a fine write up on the subject below.) Lenders continue to examine the branch model, whether it is traditional or P&L (revenue) based. The MBA defines an “expense management” branch. These have a high upside, as long as they’re compliant, and hire whoever they want. But cutting back is tough, and management has to do a good job of setting expectations. (Today’s podcast can be found here and this week’s is sponsored by Black Knight. From point-of-sale through post-closing, the company’s trusted loan origination system, Empower, as well as its integrated, end-to-end origination solutions deliver unmatched capabilities, functionality, and support to increase processing efficiencies and lower operational costs for lenders. Hear an interview with Aidium’s Spencer Dusebout on CRM differentiators and ROI.)

Lender and Broker Products, Software, and Services

“Master speed to lead and boost your lead conversion rates with Black Knight’s new webinar series and resource guide combo! Discover insights, innovative strategies, and practical tips in our latest video, “Mastering Speed to Lead in a Digital Era,” to excel in today’s competitive landscape. Don’t miss the comprehensive resource guide, providing actionable steps and valuable resources for immediate implementation. Responding quickly to leads can set you apart from the competition and earn you more business. Start implementing these speed to lead techniques today and watch your conversion rates soar!”

ACES Quality Management unveils ACES PROTECT® Mortgage Compliance Testing Module. Historically, regulatory compliance checks have been complex and cumbersome, making it challenging to perform them quickly and accurately. With the introduction of the first fully integrated compliance engine within a quality control software solution, ACES PROTECT ensures compliance on more loans in less time. With this fully transparent and configurable tool, you will increase productivity while saving time, only pay for the compliance tests you need, and benefit from trusted independent verification, because transparency and accuracy matter. Learn more.

Rocket Mortgage and Rocket Pro TPO have introduced ONE+ by Rocket Mortgage, an exciting new 1% down home loan program that will dramatically increase access to homeownership for millions of Americans. ONE+ is available for qualifying homebuyers whose income is equal to or less than 80% of their area median income (AMI) for single-family homes, including manufactured homes, potentially saving more than 90 million Americans thousands of dollars. Plus, Rocket Mortgage provides a 2% grant towards the down payment! The best part? ONE+ completely covers the expensive monthly mortgage insurance fee for the client, saving up to an estimated $245 per month. Want to learn more about ONE+? Partner with Rocket Pro TPO to take advantage of ONE+ today!

“Turn fixed costs into variable costs on a dime. When the market zigs, lenders need the flexibility to zag. Richey May Advisory brings the mortgage industry expertise and agility you need to convert fixed costs into variable costs. Our difference maker is your ability to outsource services to highly trained experts in a model that fits your needs. Whether that means loan-level accounting, advisory, business intelligence, compliance support, cyber services, internal audits or underwriting automation, we have the tools, knowledge, and experience to deliver value and improve your financial performance unlike any competitor, anywhere. You’ll feel it almost immediately in your day-to-day operations. Even better, you’ll notice the difference in your bottom line. Reach out or visit our website to learn more about how we can help your operation pivot to a better place, no matter which direction the market goes.”

STRATMOR on Brokers

Retail originators, do you find yourself wondering if now is the time to become a broker? Mortgage brokers, are you wondering if you are better off working for a retail lender? Originators scrambling to generate new business with refinances all but gone and purchase volumes down may be considering a change. And lenders in search of additional revenue and cash flows may find the idea of entering the wholesale channel appealing. In the just-released May Insights Report from STRATMOR Group, Senior Partner Jim Cameron digs into the specifics for the wholesale channel. Cameron analyzes trends and offers guidance to lenders considering expansion into the channel and to originators looking at which model is best for them: retail loan officer, corporate or P&L branch manager or maybe becoming a broker. Don’t miss Cameron’s article, “Thinking About Wholesale? Considerations for Mortgage Originators and Lenders” in the May Insights Report.

Webinars and Training

On Wednesday, 5/31, at 11AM Pacific, is a treat for loan originators. James Cameron sold the original Terminator script for just one dollar, a costly mistake that he has regretted ever since. Dave Savage and Todd Bookspan understands the value of foolproof scripts for loan officers, and, unlike Cameron, has no regrets about bringing these conversation frameworks to you completely FREE at SCRIPT-A-PALOOZA 2023. Join top mortgage professionals to learn the best scripts from industry leaders who closed billions in volume last year. Hosted by TrustEngine’s Dave Savage and Win by Noon’s Todd Bookspan plus featuring advice from bestselling author Phil M. Jones, this live event will give you the winning words to close more loans, win referrals and overcome market challenges. Register and say “hasta la vista, baby,” to tired, unproductive interactions!

Join MCT on June 1st at 10am PT for its upcoming webinar discussing Strategies to Improve Profitability in the Current Market. In this webinar, MCT’s Phil Rasori and Paul Yarbrough will provide a current market overview and include actionable insights to improve profitability for lenders. Attendees will receive key hedging, trading, best execution, and MSR recommendations, as well as how to leverage technology to improve profitability and efficiency. MCT also recently released a new whitepaper on Mortgage Pipeline Hedging 101. The whitepaper reviews information on moving to mandatory, the strategy of hedging, the benefits of hedging, and how to determine if you are ready. Read the whitepaper to learn how you can use hedging as a tactic to mitigate risk and optimize profitability when selling mortgage loans.

Class is back in session, June 1, noon ET, for lenders who want to understand more about mortgage servicing rights (MSR) assets. Optimal Blue industry experts are hosting a complimentary webinar, MSR 201: The Impact of Interest Rate Moves on Servicing Valuations, on June 1. This session will focus on how interest rates impact the valuation of servicing and how you can measure the sensitivity of servicing to moves in interest rates.

Make sure your business advertising is compliant at the MMLA Thursday, June 1 luncheon 11:30 a.m. – 1:00 pm at the Traverse City Country Club. The cost is $35 per member and $40 per non-member. Melissa Bridges, Attorney at Bodman, will discuss compliance rules for advertising, social media posts, gifts, and other promotional items.

Class is back in session for lenders who want to understand more about mortgage servicing rights (MSR) assets. Optimal Blue industry experts are hosting a complimentary webinar, MSR 201: The Impact of Interest Rate Moves on Servicing Valuations, Thursday, June 1, 9-10AM PT. This session will focus on how interest rates impact the valuation of servicing and how you can measure the sensitivity of servicing to moves in interest rates. Today more than ever, it’s critical to understand the drivers of servicing profitability and how the current state of the rate market impacts that valuation. Understanding the sensitivity of your portfolio can help arm decision makers at your organization with the right intel to make the right decisions.

IMN’s Annual Non-QM & Non-Agency Mortgage Forum is June 1-2 at the Waldorf Astoria Monarch Beach, in Dana Point, CA. This forum will be constructed from both the loan origination and investor perspectives, diving deep into the critical issues facing the industry. At this event, you will meet senior professionals in the market consisting of Correspondents, Wholesale Originators, Investors/Capital Market Leaders, Servicers, Brokers, and many more at this two-day event. Check out a sample of panel topics of past registered companies, view The 4th Annual Non-QM & Non-Agency Mortgage Forum.

Capital Markets

The Fed Funds futures market, like oddsmakers in Las Vegas, are now saying there’s a 38 percent chance of another 25-basis point (.25 percent) hike in June as employment continues to be strong, banking issues quiet down, and inflation continues to be relatively high. Speaking of which, home prices peaked around June of last year, so we should start seeing the decline in prices percolate through to the yearly inflation indices. Investors were also focused on the FOMC Meeting Minutes from May yesterday, which showed that policymakers believe that there is an upside risk to the baseline inflation forecast and there is an expectation among officials that a “mild” recession will begin later this year. Throwing a curveball in the mix were hawkish comments from Fed Governor Waller, who indicated that the Fed could pause at the June meeting only to re-start in July should inflation continue to come down slower than expected.

Even with some intraday volatility yesterday, bond prices dropped by the close as debt ceiling negotiations continued to dominate headlines. We are one day closer to the June 1st deadline Treasury Secretary Yellen identified as the date when the U.S. Treasury would potentially run out of money.

The second look at Q1 GDP (+1.3 percent, up from +1.1 percent; +4.2 percent annually, stronger growth than forecast; core PCE +5.0 percent annually) and weekly initial jobless claims (229k, up 4k from a revised 225k) led off today’s calendar. GDP was expected to increase 1.0 percent versus 1.1 percent previously, with the core PCE deflator unchanged at 4.9 percent year-over-year. Later today brings the Pending Home Sales Index for April, KC Fed manufacturing for May, and a Treasury auction of $35 billion 7-year notes. Two Fed Presidents are also scheduled to speak, Richmond’s Barkin and Boston’s Collins. We begin the day with Agency MBS prices worse a solid .125 and the 10-year yielding 3.75 after closing yesterday at 3.72 percent; the 2-year is up 50 basis points in 10 days to 4.39 percent!

Employment

A well-capitalized bank is searching for a mortgage banking shell with Agency approval that has had no, or minimal, residential production, over the last three years. Confidential inquiries can be sent to me for forwarding.

A Title Insurance Agency located in a prestigious office building in Melville, Long Island, with a staff of 12 has an empty corner office with additional desk space in the main area. Any individual or individuals looking for a satellite office or primary space will have access to all employees as well as all the office equipment. Let’s discuss an arrangement that will benefit all parties. If interested, please reach out to Anjelica Nixt and specify this opportunity.

A regional independent mortgage banker, based in the Midwest, is looking for a compliance officer. The lender has Fannie, Freddie, and Ginnie tickets, servicing, and a full suite of products including bridge loans, DPA, and renovation. The perfect candidate will have at least ten years’ experience working at a multi-billion dollar IMB, including Disclosures, QC, Vendor Management, Exams, and State/Federal reporting. If you are interested, please send your confidential resume to Chrisman LLC’s Anjelica Nixt for forwarding.

Are you a loan officer or mortgage banker frustrated with the constraints of retail lending? Tired of competing against lower rates, fees and closing costs? Then now’s the time to take control of your pipeline and career by making the switch to wholesale lending as an independent mortgage broker. Whether you’re looking to open your own brokerage or join a team as a loan officer, you can get up and running without missing a beat with support from the team at BeAMortgageBroker.com. You have nothing to lose and only clients, greater flexibility and compensation to gain.

“Things are heating up and we are adding to our team. At AFR Wholesale®, we are looking to expand our Account Executive teams for both our Wholesale and Correspondent Divisions! We have been streamlining procedures, developing more communication channels, and overall speeding up our loan processes. Now we need more hands-on deck to join our family! We like to offer a close community that feels like home to thrive and make dreams become a reality. We are looking for experienced candidates because at AFR, we recognize that some scenarios can be challenging, and we want to provide a home for all possible circumstances. That is why we do what we do. At the end of the day, it’s about being proud, we made it possible to turn a house into a home. AFR is an equal opportunity employer. APPLY NOW! Contact AFR by going here, email us or call 1-800-375-6071.”

“PrimeLending delivers LOs award-winning support from day one and beyond. Just last week, our national training team struck gold two times at the Association for Talent Development Annual Axis Awards, winning first place for programs designed to help LOs gain the skills needed to excel in today’s marketplace. Our training team won the Technology Application award for revolutionizing remote learning with innovative tech like NovoEd, and the Performance Improvement award for demonstrating the positive impact training programs have on production. What does that mean for LOs? Easier onboarding. Faster productivity. Better efficiency. More confidence. Our training team understands the unique challenges and opportunities in the industry, ensuring loan officers stay ahead of the curve. For your professional growth and achievement, reach out to Nic Hartke today and discover how PrimeLending can pave the way to success.”

Download our mobile app to get alerts for Rob Chrisman’s Commentary.

Source: mortgagenewsdaily.com

Apache is functioning normally

May 25, 2023 by Brett Tams

Inside: This guide provides tips on frugal home must haves, so you can save money and live responsibly, while also enjoying a healthy environment and good health.

Are you looking for ways to save money and still have a clean and organized home?

If so, you are in the right place. In this blog post, I am going to share with you frugal home must haves that will help you save money.

But before we get started, let me ask you a question:

Do you ever feel like your home is a never-ending cycle of cleaning and organizing? That you use products that are for one use only and know there are better products out there.

If so, you are not alone. Most people feel this way at some point in their lives.

The good news is that there are ways to save money and start to incorporate bits and pieces of a frugal lifestyle into your life.

So, without further ado, here are 19 frugal home must-haves to help you save money:

A frugal home is one that's both clean and organized. This guide provides tips on how to live cheaply and responsibly, while also enjoying a healthy environment and good health. Frugal lifestyle tips that really do work. Living a frugal lifestyle keeps your budget on track and debt to a minimum. Why we all need a frugal lifestyle right now.

What is frugality?

Frugality is the practice of being very intentional with your spending, prioritizing the things that matter the most to you, and cutting back on spending in other areas.

It doesn’t necessarily mean sacrificing your favorite brand of cereal, living without napkins, or giving up on adventurous vacations. Instead, frugality is about making smart money choices and learning to live below your means.

It is not the same as being cheap, which involves saving money at the expense of others.

Rather, being frugal means being economical with your money, making it stretch further so you can do more with less.

Frugal living is a journey, not a destination, and it starts with creating a budget that you can live with and looking for ways to save money.

What are the most frugal must-haves for a home?

Picture of a home on a calculator for frugal must haves for a home

The most important frugal must haves for you are those that save you money and time.

As such, what you value the most will differ from me. However, there are some basic underlying frugal items that every house needs. So, we will cover those bloew.

More importantly, more individuals are looking to become frugal green to save the environment as well as money.

This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.

best frugal home must-haves for saving money

Picture of a lady pulling cash from a wallet for the best frugal home must haves to save money.

Home is where the heart is, and we want our homes to be clean, organized, and comfortable without spending a fortune.

However, sometimes it can be tough to keep up with everything – especially on a budget.

Here are 19 frugal home must-haves that will help you save money and make your life easier!

1. Microfiber Cloths

Microfiber cloths are a frugal home must-have for saving money. Yep, I drive my mother-in-law crazy because I do not use paper towels.

They are cost-effective as compared to disposable cleaning supplies and can be used for various cleaning tasks around the house. They are more effective than cotton cloths as they rarely leave smears and dry as they wipe.

Plus, microfiber cloths can be color-coded for different cleaning tasks. To ensure their effectiveness and longevity, microfiber cloths should be washed separately from other laundry and should not be washed with fabric softeners or bleach.

2. Drying Rack

Owning a drying rack can be a smart investment for those looking to save money and energy in the long run. There are many types of drying racks available, from outdoor rotary clotheslines to indoor airers.

Personally, we use our drying rack ALL.THE.TIME!

Plus, using a drying rack is an eco-friendly alternative to using a dryer, which can reduce your carbon footprint and help you live a more sustainable lifestyle.

This is the drying rack we personally own and love.

3. Instant Pot or Crock Pot

Move over crockpot, the Instant Pot is the hottest trend to stay! I’ll admit I was hesitant about owning an instant pot, but have decided it was well worth the investment for our frugal home.

An instant pot is a frugal must-have for any home looking to save money while still enjoying delicious meals. It is perfect for busy people who want to come home to a warm meal without the hassle of cooking.

Instant pots are not just about cooking one meal; they are perfect for batch-cooking frugal meals. This allows you to cook multiple meals in one go, freezing the extra for another day.

You can also use cheaper cuts of meat and tenderize them in the instant pot. Some examples of meals that can be made in a crock pot include soups, stews, chilis, and even whole chicken for homemade stock.

An instant pot is an efficient and cost-effective way to enjoy home-cooked meals without breaking the bank.

Here is the instant pot / air fryer combe we personally own.

4. Reusable Grocery Bags

Many states, including ours, now charge 10 cents per bag when checking out at any store!

By bringing your own bags, you can avoid the extra fees charged for plastic bags at many stores.

Additionally, reusable bags are sturdier and can hold more items, reducing the need for multiple bags.

Switching to reusable bags also helps reduce plastic waste, which is harmful to the environment. So, invest in some reusable bags and make a positive impact on your wallet and the planet.

5. Beeswax Wraps

Beeswax wraps are a fantastic frugal and eco-friendly alternative to plastic wraps.

Made from organic cotton and covered in beeswax, they are versatile and come in various sizes. They can replace both cling film and foil, lasting for a long time as long as they are not washed in hot water or put in the microwave.

These wraps can save money in the long run as they are reusable and can be used for a variety of purposes, from wrapping bread to covering bowls.

To care for them, wash them in cool soapy water and avoid hot water or the microwave. With beeswax wraps, you can be frugal and eco-friendly at the same time!

6. Charging Stations To Reduce Energy

Standby losses refer to the energy consumed by electronic devices even when they are turned off but still plugged in. For instance, a TV on standby mode, a phone charger left plugged in, or a coffee maker are all examples of appliances that contribute to standby losses.

These losses can significantly impact your energy bill and add up over time.

However, there are practical ways to reduce standby losses and save money.

Use an energy-efficient power strip to plug in multiple devices and switch them off in one go.
Invest in a “smart” power strip that automatically turns off devices when they are not in use.

By taking these steps, you can reduce standby losses and save money on your energy bills.

7. Glass Jars

Glass jars are incredibly versatile and can be used for storing everything.

Using glass jars is also cost-effective since they can be reused over and over again.

With their airtight seals, they are perfect for storing food items, and their clear glass makes it easy to see what’s inside. They are also great for organizing small items like pens, hair bands, and cut flowers.

Overall, using glass jars is an easy way to save money while keeping your home clean and organized.

8. Hot Tea Maker Electric Glass Kettle

This is the updated version of the traditional teapot due to its durability, versatility, and cost-effectiveness.

It can be used to make a large amount of tea at once, making it perfect for entertaining guests or for daily use.

Additionally, it is a one-time investment that can last for years, which saves money in the long run.

Also, by using loose tea leaves instead of tea bags, you can also save money and reduce waste.

9. Coffee Pot

If you’re a coffee lover, you know how quickly buying coffee on a daily basis can add up and become a significant expense.

However, there is a simple solution to this problem – investing in a coffee pot you love.

By brewing your coffee at home, you can save several dollars each week, which can add up to a considerable amount over time.

Moreover, if you’re someone who enjoys lattes, there are coffee pots available that can make lattes at home. This means that you don’t have to spend a fortune on lattes from coffee shops or cafes.

With a good coffee maker, you can enjoy the great taste of coffee at home while saving money.

If you invest in a single-use coffee maker, then make sure you are using reusable K-cups.

10. Laundry Bags

Seriously, this was the greatest idea I found out from a baseball mom. Never worry about mixing up clothes between family members again!

By using laundry bags, you prevent clothes from getting lost or mixed up in the wash, and can also help prolong the life of delicate fabrics.

To care for your laundry bags, simply toss them in the washing machine with your laundry and air dry.

11. Baking Soda

Baking soda is a frugal home must-have that can be used for cleaning and organizing your home in many ways.

It is a multipurpose cleaner and deodorizer that can be used to clean surfaces, carpets, laundry, even fruits and vegetables.

By mixing baking soda with water, you can create a paste that can be used to clean almost everything. It can also be used to deodorize your refrigerator, carpets, and shoes. Additionally, you can sprinkle baking soda on your mattress and vacuum it up to remove odors.

Overall, baking soda is a versatile and inexpensive household item that can help you keep your home clean and fresh.

12. Vinegar

Vinegar is an incredibly versatile and cost-effective must-have for any frugal home. It can be used for cleaning and organizing in a variety of ways.

Vinegar is effective in removing stains, cleaning surfaces, and freshening up the home. It is also safe to use around children and pets, making it a great alternative to harsh chemical cleaners.

For cleaning surfaces, vinegar can be mixed with water and used to clean windows, mirrors, and countertops. It can also be used to remove stains from carpets and clothing. In addition, vinegar can be used to freshen up the home by adding a few drops to a diffuser or spraying it in the air.

To incorporate vinegar into daily cleaning routines, it can be added to a spray bottle with water and used to clean surfaces as needed. It can also be used as a natural fabric softener in the laundry by adding a cup to the rinse cycle.

When using vinegar, it should not be used on certain surfaces such as marble or granite as it can cause damage.

13. Reusable Water Bottles

Using reusable water bottles is an important step towards a more frugal and eco-friendly lifestyle.

It can save money by eliminating the need to buy single-use plastic water bottles, and it also helps reduce waste and pollution.

When choosing a reusable water bottle, look for one with a filter to ensure fresh water anytime, anywhere.
Opt for bottles made from durable and non-toxic materials such as stainless steel or glass.

Keeping a reusable water bottle also promotes healthy hydration habits.

14. A Large Freezer

A large freezer in your home is a frugal must-have for many reasons.

Not only does it provide money-saving opportunities by allowing you to stockpile food on a budget and freeze extra portions from batch cooking, but it also helps you take advantage of great deals you find at the store.

With a well-stocked freezer, you can shop your stock first and freeze nearly everything you buy for later use.

Additionally, having a large freezer can help you save on your electricity bill by allowing you to fill it up to two-thirds capacity, which makes it more efficient.

Also, you may want to purchase this freezer lock to make sure it stays closed.

15. Reusable Food Storage Containers

Using reusable food storage containers like BPA-free plastic or glass containers is an effective way to reduce waste and promote eco-friendly living.

BPA-free plastic containers are ideal for those who have limited space for storage and prefer lightweight and durable containers. They are freezer, microwave, and steamer safe, making them perfect for storing and reheating various types of food.

On the other hand, glass containers are an excellent alternative to plastic containers. They are incredibly environmentally friendly and can be reused over and over again, making them an indispensable tool in your quest for simple and frugal home living.

Since they are also reusable, saving you money in the long run. You only need a few of them for your daily use.

16. Reusable Food Bags

Reusable food bags are a great way to reduce your carbon footprint and be more eco-friendly in your daily life. These bags are made from BPA-free materials and are designed to be used over and over again, making them a great alternative to single-use plastic bags.

Here are the benefits of reusable food bags:

Versatile and can be used for a variety of purposes as they are freezer, microwave, and steamer safe, making them perfect for storing, heating, and cooking food.
Perfect for packing lunches and snacks, as they are lightweight and easy to carry.
Durable and long-lasting.
Ability to use them again and again, reducing the amount of waste that you produce.

Unlike plastic bags, which can easily tear or break, these bags are made from sturdy materials that can withstand daily use.

While the initial cost of these bags may be higher than that of plastic bags, they will pay for themselves over time as you won’t have to keep buying new bags. Plus, they are often sold in sets, so you can get multiple bags for a lower price.

17. Basic Toolkit for DIY Projects

A basic toolkit can be a valuable asset for homeowners as it can come in handy for simple home repairs and save money on professional services.

With the right tools and some DIY know-how, you can tackle many basic home repairs and maintenance tasks yourself, without having to hire a professional.

DIY tutorials are available online, and many of them are free. You can also attend community classes or evening courses at local colleges to learn DIY skills.

Also, you can look at sharing tools with neighbors or friends can help you save money and build a sense of community.

18. Storage Organization

Oh my goodness, there is no way I could manage without serious storage organization for our small house.

Thankfully, there are plenty of storage organization options to make sure you use optimal space in every single corner of your house.

Here are some of my favorite storage organization tricks:

19. Rotary Clothes Line

Owning a rotary clothesline is a must-have for frugal homeowners.

Not only is it a one-time cost that lasts for years, but it also helps save money on electricity bills as line drying reduces creases and eliminates the need for a dryer.

Additionally, a rotary clothesline takes up less space than a bulky dryer or indoor drying rack.

By using a rotary clothesline, you can enjoy the benefits of fresh, sun-dried laundry while saving money and space. It’s a win-win situation for both your wallet and your home.

20. Essential Oils

Essential oils can be used in a variety of ways, including for homemade beauty and cleaning products. For example, adding 15 drops of peppermint essential oil to a cup of baking soda can create a refreshing and invigorating scrub.

Essential oils can also be added to homemade shampoo and body wash recipes to provide a pleasant scent and potential therapeutic benefits. Some popular essential oils for these purposes include rosemary, lavender, and peppermint.

In addition to beauty and cleaning products, essential oils can also be used for aromatherapy purposes. Simply adding a few drops of essential oil to a diffuser or inhaling the scent directly can provide benefits such as stress relief and relaxation.

It’s important to note that essential oils should always be used with caution and according to their recommended guidelines, as they can be potent and may cause adverse reactions if not used correctly.

21. Rain Collector

Using a rain collector to water your vegetable garden is a great way to be eco-friendly and frugal at the same time.

This method can help you save money on your water bill and reduce your carbon footprint.

Rain collectors can be purchased for as little as $50 and provide a regular supply of free water throughout the year.

To use a rain collector for your vegetable garden, set it up in a location that is convenient for you to access and close to your garden. When it rains, the water will collect in the butt and be ready for use when you need it. You can use a watering can or attach a hose to the butt for easy watering.

Rainwater is especially good for watering vegetables because it is free of chemicals and additives that may be present in tap water.

22. Countertop Composter

A countertop composter is a great addition to a frugal home. It is a small, portable compost bin that can be kept on your kitchen counter, making it easy to compost food scraps and other organic waste.

By composting your food scraps, you can reduce the amount of waste that goes into landfills, which is not only good for the environment but also saves you money on garbage bags and waste disposal fees.

Countertop composters are available in various sizes and styles, so you can choose one that fits your needs and budget.

Some countertop composters are made of stainless steel or ceramic and have a sleek, modern look that blends in with your kitchen decor.
Others are made of plastic and have a more utilitarian design.

In addition to reducing waste and saving money, composting also produces nutrient-rich soil that can be used to fertilize your garden or houseplants. This can save you money on buying fertilizers and improve the health and productivity of your plants.

23. Knife Set

Having a good knife set is essential in a frugal home because it saves money in the long run. Yes, I have proof of this as I replace my 15-year-old knife under warranty.

Investing in an affordable yet durable set can be achieved by choosing stainless steel or high-carbon steel, which are both rust-resistant and long-lasting.

When choosing a set, consider the number of pieces you need and the type of knives required for your cooking needs.

To make your tools last longer, hand wash and dry them immediately after use, avoid using abrasive cleaners, and store them in a knife block or a drawer with dividers to prevent damage.

But, to be honest, these are the knife set I own and I put them in the dishwasher all the time.

24. Streaming Stick

If you haven’t upgraded to a smart TV yet, I understand you are frugal. Then, you need to invest in a streaming stick.

This simple device can help you lower your costs spent on cable while still streaming your favorite shows on Paramount, Hulu or YouTube.

Nowadays, you can expect to spend less than $50.

25. Soda Maker

This may seem like a splurge, but we, frugal people need a way to treat ourselves.

Having your own soda maker can be a great way to save money in the long run. While it may seem like an expensive investment at first, the cost of making your own soda (or seltzer) at home is significantly lower than constantly purchasing soda (or seltzer) from the store.

In fact, making soda at home can cost as little as 25 cents per liter, compared to the average cost of $1.50 per liter for store-bought soda.

Another cost-saving benefit of having your own soda maker is that you can control the ingredients. You can choose to make your soda with natural sweeteners like honey or stevia, rather than high fructose corn syrup, which is commonly found in store-bought soda. This not only saves you money in the long run, but it can also be a healthier option.

What are some good tips for living frugally?

Picture of cash and calculator for tips for living frugally.

Living frugally can be a great way to save money and achieve financial goals.

Here are some practical tips for living frugally that you can implement in your daily life:

Meal planning and home cooking can save money on food expenses. Brown bagging or oven lunch boxing your lunch is also a great way to save money. Learn how to be frugal with food.
Wash your laundry in cold water and use natural homemade cleaners to save on household expenses.
Create a budget that you can live with and look for areas where you can cut back on expenses. Pack your own lunch and cut back on entertainment costs.
Travel frugally by traveling during the off-season and cutting down on eating out. Opt for a place with a kitchen so you can make some of your own meals and purchase discounted airline tickets or fares.
Have fun for free by doing activities such as going to the park, having a picnic, or having a bonfire. There are so many things to do with no money.
Try out a few frugal living tips at a time to find out which works best for you and don’t forget to access free courses and worksheets to help with your frugal living journey.

Remember, frugal living doesn’t have to be a sacrifice and can actually help you fully enjoy what you care about in life.

Start taking small steps towards a more frugal lifestyle and see how it can positively impact your finances.

FAQ

There are many frugal home hacks that can help you save money and keep your home clean and organized.

Some practical and actionable tips include meal planning, home cooking, brown bagging your lunch, washing your laundry in cold water, and using natural homemade cleaners.
Before calling a handyman, consult YouTube to learn how to fix a leaky faucet or remodel your bathroom.
Examining your monthly bills for ways to save on electricity, water, cable, and even your cell phone can also help you save money.

By implementing these frugal hacks, you can make every penny and dollar count and stretch your budget further.

I always tell people to shop their own house first. Just because you don’t know where something is doesn’t mean you should go out and buy a new item.

Look around and see how you can reuse items.

Before heading out to the grocery store, look at your own pantry and freezer to see what you can use first.

Give these tips a try and see how much you can save!

Essential appliances and gadgets for a frugal, clean, and organized home include:

Which Frugal Home Ideas Will You Implement?

Picture of a frugal pig and money for frugal home ideas.

With a little bit of planning and effort, you can live frugally and still have a beautiful home.

One of the key points of frugality is buying quality items less often.

Too many times, people associate being frugal with cheap.

Being frugal means you are intentional with your spending on household items and prioritizing the things that matter most.

Plus, using frugal methods can be better for the environment and your health.

So what are you waiting for? Go out and buy some of these must-haves today!

Source: moneybliss.org

Apache is functioning normally

May 24, 2023 by Brett Tams

The home appraisal is an integral part of the home selling process. It helps to determine the “market value” of a property so buyers neither overpay for a house nor get it for a “steal.” The appraisal breaks down into three parts, though this can vary by state:

● Inspection
● Comparables (how other homes in the neighborhood are valued)
● Final report

As you prepare for a profssional home appraisal, here’s what you can do to ensure you get the best possible report and value for your home.

Keep Up Appearances

Ensure the following when an appraiser comes to assign a market value to your home:
● A healthy and hospitable appearance
● Proper drainage away from the foundation and/or basement
● Egress windows in all bedrooms for fire safety
● For homes built before 1978, no lead-based paint concerns
● Handrails on all stairs and steps
● A properly functioning heating system that provides ample comfort
● A roof in good condition

Though home appraisers won’t put a “black mark” in their books for the messiness of your home, it does help to have it organized. They’ll be able to see some of the high selling points if they’re not covered under clutter.

Provide Necessary Paperwork

Appraisers absolutely must have all of the paperwork available about your property before they arrive. If they don’t get this information from your lender or broker beforehand, then you should have it in a folder, ready to hand over. This information includes:
● Major improvements
● Age and condition of the roof, HVAC system and major appliances
● Permits for any DIY projects

The more information they have on-hand about your house, the better they can value it.

List Only Essentials

Never list extra square footage in your overview to the appraiser. While you may think your basement or attic counts as square footage, this isn’t always the case. If you’re unsure, it’s best to hire a home inspector or REALTOR® to advise you on acceptable square footage. You should also take care to provide accurate square footage for individual rooms. While you might be tempted to add a few extra square feet here and there, your appraiser has no problem looking up the actual numbers — and it could hurt you in the end.

Conclusion

Home appraisals aren’t just for sellers; they’re for homebuyers and refinancers too. In the case of a buyer, a buyer’s lender will generally have a different appraiser look through the home and perform an independent assessment. If the buyer’s assessment doesn’t match up against the seller’s, discrepancies may be addressed as needed. It also helps to see where potential problems may lie before listing your home, in case you need to make repairs.

Source: century21.com

Apache is functioning normally

May 24, 2023 by Brett Tams

2022 seems to be a busy year for 34-year-old rapper Cameron Thomaz, better known by his stage name, Wiz Khalifa.

The rapper recently released two singles from his upcoming album Multiverse, set to drop later this summer, and is preparing to join Logic on a U.S. tour from July to September.

All the hard work is paying off for Khalifa, and he’s making the move to a bigger, even more glamorous home than the one he’s occupied for the past three years.

The rapper has listed his modern mansion in Encino with Alan Tayor of Compass & and Brian Capossela with Cap Equity for $4,495,000.

exterior of Wiz Khalifa's house in Encino, Calif. — ^{Photo credit: James Moss courtesy of Compass}

Khalifa paid $3.4 million for the property when he purchased it back in 2019, and he didn’t have to make any significant upgrades or renovations — the home was gorgeous from the get-go.

Pool view of the house Wiz Khalifa is selling in Encino — ^{Photo credit: James Moss courtesy of Compass}

Wiz Khalifa is not parting ways, however, with Encino.

He recently paid $7.6 million for another, even bigger mansion in the same area, according to Architectural Digest. Khalifa and his son will be the very first residents of the 8,029-square-foot farmhouse property.

The 6-bedroom, 5-bathroom, 5,875-square-foot home sits in the quiet, celebrity-heavy neighborhood of Encino and represents quintessential Cali living, seamlessly blending modern and classic elements.

indoor-outdoor transition with outdoor dining table — ^{Photo credit: James Moss courtesy of Compass}

While the architecture is simple, straightforward, and boxy, the warm wood paneling on the exterior softens it up and gives it a beautiful modern look.

The beautiful home South of The Boulevard offers complete privacy, which is perfect for celebrities like Khalifa, who are always followed by fans and the prying eyes of the paparazzi.

Outside, there is a gorgeous swimming pool with a firepit, lounging area, an outdoor spa, and a concrete BBQ center — perfect for entertaining guests.

Inside, guests are greeted by a grand foyer boasting a floating staircase and soaring ceilings bathed in abundant natural light.

two-stories tall modern living room with floating staircase — ^{Photo credit: James Moss courtesy of Compass}

tall ceilings with modern light fixtures — ^{Photo credit: James Moss courtesy of Compass}

You step into a spacious, formal living area that gives off 100% carefree Cali living vibes without even trying.

Nearby is a home theater that’s ideal for watching favorite movies with friends and family, as well as a guest suite and a powder room.

The main family room is equally cozy and impressive, boasting custom built-ins, a 100-bottle wine bar, a sharp wood-clad fireplace, and floor-to-ceiling glass pocket doors that help you bring the outdoors indoors.

large modern living room with wine wall — ^{Photo credit: James Moss courtesy of Compass}

large living room with sliding glass doors — ^{Photo credit: James Moss courtesy of Compass}

cozy transition room with bookcase and seating — ^{Photo credit: James Moss courtesy of Compass}

The chef-level kitchen is absolutely stunning, again bathed in abundant sunlight, featuring Miele appliances, custom lacquer cabinets, a walk-in pantry, a butler’s pass through the dining room, as well as a cozy breakfast nook overlooking the private grounds.

modern white kitchen with wood accents — ^{Photo credit: James Moss courtesy of Compass}

kitchen nook in modern kitchen — ^{Photo credit: James Moss courtesy of Compass}

luxurious modern dining room — ^{Photo credit: James Moss courtesy of Compass}

Going upstairs, you have six gorgeous, spacious bedrooms, as well as a teen lounge or a home office that connects to an outdoor terrace and wraparound balcony overlooking Santa Susana’s.

There’s also a primary retreat area with a bar and fridge, a custom fireplace, a large sleeping room with a lounge area, a walk-in center island closet, a spa-style bath, a spacious standing shower and tub, and huge balconies with views of the yard.

beautiful modern home office — ^{Photo credit: James Moss courtesy of Compass}

large bedroom with fireplace and seating area — ^{Photo credit: James Moss courtesy of Compass}

modern bathroom with a freestanding tub and a view — ^{Photo credit: James Moss courtesy of Compass}

For outdoor enthusiasts, there’s also a sports court next to the swimming pool where you can shoot hoops and get some exercise in the California sun.

There’s also a pool cabana that can easily be converted into a home gym, a studio, or a lounging area.

outdoor patio — ^{Photo credit: James Moss courtesy of Compass}

pool with waterfall — ^{Photo credit: James Moss courtesy of Compass}

large outdoor area with a pool, spa, waterfall, basketball court and bbq area — ^{Photo credit: James Moss courtesy of Compass}

There are plenty of parking spaces, including 2 covered parking spaces and 6 additional parking spaces for guests.

The home is wired for sound and features smart features like state-of-the-art security cameras and multi-zoned Nest heating and air.

If you’d like to see more of Wiz Khalifa’s soon-to-be-former house in Encino, you can take a virtual tour of the property with listing agent Alan Taylor of Compass.

Apache is functioning normally

May 24, 2023 by Brett Tams

As I write this, the back side of my house is mostly exposed to the studs with loose fiberglass hanging out in the area where landscaping will be someday. That’s right: Some crazy people choose to do remodeling projects in the middle of the coldest part of winter. Which doesn’t make a lot of sense, considering this article is about winterizing your home. Having one wall with very little insulation during sub-zero temperatures is not winterizing.

The (expensive) changes we’re making this year are supposed to pay off in lower heating costs in the years to come. And they are expensive. All-new windows, spray-foam insulation in the basement and outer walls, and some new siding all add up to one pricey, pricey project. But it wasn’t always this way. We have lived in our drafty house for almost seven years. The windows are old and allow for plenty of ventilation (which isn’t what you want when, baby, it’s cold outside). However, windows are expensive, so we’ve spent the last seven years limping along while still winterizing our home as cheaply as possible.

Cool Down Your Heating Bill

Most of our changes have been small. But enough small changes added together did make a difference on our heating bill.

1. Run fans clockwise. I had no idea you could change the blade direction on ceiling fans, let alone that it made a difference to your heating bill. But my husband taught me this. In the winter, just turn the blades clockwise to bring the warmer air (hot air rises, of course) down.

2. Use storm windows. Our windows are so old, we use storm windows in the winter…usually. I say “usually” because it’s a huge pain to lug the windows down from the upstairs of the garage, but it’s worth it. That was never more evident than when we experienced the early January cold snap that hit most of the U.S. We hadn’t actually put all the storm windows on our 11-window sunroom. Every window without a storm window was iced over until we put those storm windows on. Within an hour or so, all the ice was melted. (Note to self: It’s much easier to put the storm windows in when it’s 40 degrees than -10 degrees.)

3. Put plastic over the windows. If your windows are drafty like ours, putting plastic over the windows can make a big difference. You can purchase this at a hardware store.

4. Caulk openings, if possible. Our basement windows were just like the rest — drafty. Since we didn’t have storm windows for these and didn’t open them often, we just caulked them. Unfortunately, this meant we could no longer open the windows. Even more unfortunately, our sewer system backed up into our basement after these windows were caulked closed. (“Backed up” is really a laid-back term. “Spewed” is more accurate.) But hey, we saved on our heating bill!

5. Drop your thermostat setting. Obviously, it costs less to heat a home to 72 degrees than it does to 76. Before we had kids, I left the oven door open after it was turned off to allow its leftover heat to warm up a room, and I also left hot bath water in the bathtub to exude a little warmth. Frequently, I will drink hot water and layer my clothing to stay comfortable. We also drop the setting even more at night and pile more blankets and comforters on the beds. I have heard stories from elderly relatives that they woke up in mornings to see their breath in the brisk air — in their bedrooms. We don’t come close to that at all, but it amazes me.

6. Fix under-the-door drafts. Depending on the room, we roll up towels or rugs to block drafts coming under the doors. It looks crazy, but it works. Our doors are just as pretty and drafty as the old windows.

7. Don’t use all your rooms. Our house has electric heat, which happens to be one of the more inefficient methods of heating a house. But one advantage is that each room has its own thermostat and register. This makes it easy to cut the heat to parts of the house we don’t use as much in the winter.

8. Use alternate heat sources. A few years ago, we purchased a wood-burning stove to supplement our electric heat. We find people who need trees cut down. We provide the labor, and we are “paid” with the wood. So far, using this arrangement, we haven’t paid for wood. But almost constant wood stove use has cut $200 or $300 off our heating bill each month during the winter months.

9. The not-so-insulated curtains. While we don’t have insulated curtains, we have put heavy blankets over windows to try to repel the cold air.

10. Move to a warmer climate. So that’s probably not a cheap, or feasible, option, but it’s definitely tempting!

Heating our house is expensive, but it’s not a convenience I want to live without. Several years ago, we lost power for four days during an ice storm. We lugged our mattress in front of the fireplace and slept there. A generator kept us (and our pipes!) from freezing, but none of the other methods listed here made a comfortable difference when it was close to freezing in our house. So I am grateful for heat in the winter — I just don’t want to pay too much for it!

If you don’t want your heating costs to go through the roof, there are certainly options. Do you try to cut your heating costs? If so, which methods do you use?

Source: getrichslowly.org

A closer look at Alicia Keys’ house, an architectural marvel overlooking the ocean

The Razor House was initially listed for $30 million

The history of the Razor House before it became Alicia Keys’ home

More celebrity homes

Are the Television Shows Accurate in Their Portrayal of the Flipping Business?

What Costs are Involved in Fix and Flipping Homes?

Will You Make More Money Fix and Flipping More Expensive Homes?

How Long Does it Take to Fix and Flip a House?

Is All the Hassle Worth it When Fix and Flipping Homes?

How Do You Find a Great Deal to Fix and Flip?

What Should You Avoid if You Decide to Start Flipping Homes?

My Worst Flipping Experience

Conclusion

How To Save On Your Phone And Wireless Bills

How To Save On Your Housing Costs

How To Save On TV, Movies And Entertainment

How To Save On Your Internet Costs

How To Save On Insurance

Save By Getting A Better Bank Account

How To Save On Energy Bills

Save On Bills By Negotiating Them

Conclusion

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1. Target Collections Accounts First

2. Pay Off Debts That Are Close to the Credit Limit

3. Get a Higher Credit Limit (If You Can)

4. Look for Non-Credit Accounts That Will Report Payments to the Credit Bureaus

5. Avoid For-Profit “Credit Repair” Companies

How to Get Approved for a Credit Line with a Less-than-Perfect Credit Score

1. Don’t Apply for New Credit Recklessly

2. Work with a Community Bank or Credit Union

3. Consider Secured Credit

The Bottom Line

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What is frugality?

What are the most frugal must-haves for a home?

best frugal home must-haves for saving money

1. Microfiber Cloths

2. Drying Rack

3. Instant Pot or Crock Pot

4. Reusable Grocery Bags

5. Beeswax Wraps

6. Charging Stations To Reduce Energy

7. Glass Jars

8. Hot Tea Maker Electric Glass Kettle

9. Coffee Pot

10. Laundry Bags

11. Baking Soda

12. Vinegar

13. Reusable Water Bottles

14. A Large Freezer

15. Reusable Food Storage Containers

16. Reusable Food Bags

17. Basic Toolkit for DIY Projects

18. Storage Organization

19. Rotary Clothes Line

20. Essential Oils

21. Rain Collector

22. Countertop Composter

23. Knife Set

24. Streaming Stick

25. Soda Maker

What are some good tips for living frugally?

FAQ

Which Frugal Home Ideas Will You Implement?

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