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Edward E. Hodgson Jr.
1110 North Broad Street | Lansdale, PA 19446
Phone: 215-362-2260 | Office Phone: 215-362-2260 | Fax: 267-354-6844
Cell: 215-850-6973 | email: ed@edhodgsonrealtor.com

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Mortgage Rates Move Lower

September 20, 2013 2:39 am

Freddie Mac released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates moving lower amid signs of a weakening economic recovery, which in part also prompted the Federal Reserve (Fed) to continue its bond buying program. Mortgage rates have increased more than one percentage point since early May when speculation about Fed tapering began.

Findings:

-30-year fixed-rate mortgage (FRM) averaged 4.50 percent with an average 0.7 point for the week ending September 19, 2013, down from last week when it averaged 4.57 percent. A year ago at this time, the 30-year FRM averaged 3.49 percent.

-15-year FRM this week averaged 3.54 percent with an average 0.7 point, down from last week when it averaged 3.59 percent. A year ago at this time, the 15-year FRM averaged 2.77 percent.

-5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.11 percent this week with an average 0.5 point, down from last week when it averaged 3.22 percent. A year ago, the 5-year ARM averaged 2.76 percent.

-1-year Treasury-indexed ARM averaged 2.65 percent this week with an average 0.4 point, down from last week when it averaged 2.67 percent. At this time last year, the 1-year ARM averaged 2.61 percent.

"Mortgage rates drifted downwards this week amid signs of a weakening economic recovery. Retail sales rose 0.2 percent in August, which was nearly half of July's 0.4 percent increase. In addition, industrial production in August grew 0.4 percent, less than the market consensus forecast. And lastly, consumer sentiment fell for the second consecutive month in September to the lowest reading since April,” said Frank Nothaft, vice president and chief economist, Freddie Mac.

Published with permission from RISMedia.


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Warm Up the Fall Season with Seasonal Paint Color and Decor Trends

September 20, 2013 2:39 am

Ace Hardware announced its top paint color and décor trends for fall 2013, chosen by Ace's panel of design experts. Nature-inspired color palettes and décor are trending this season to reflect the changing colors of the outdoors; rich shades of red, auburn and pumpkin paired with warm neutrals such as mocha and chocolate will be accented by deep jewel tones in shades of emerald, purple, deep pink and blue.
"Fall is the perfect time to paint and redecorate your home in order to get a head start on the busy holiday entertaining season," said Katie Reynolds, one of the design experts.

Based off of the season's most anticipated design trends, experts have selected the following colors for fall 2013:

Jewel tones, including emerald green, will continue to be popular this season. Ground these pops of color with neutral hues.

Equestrian palettes with warm hues will be on trend, especially when paired with brass, leather and wood décor accents.

Give the kitchen a quick makeover with a bold cabinet facelift. Try a rich shade of dark brown and add accents of red and pink for a touch of drama.

To give a room a rich, masculine feel, use shades of darker green and blue. Add gold accents in the form of a lamp or mirror to complement these darker shades.

Inspired by the beautiful fall colors in nature, shades of auburn are a great way to bring seasonal outdoor tones inside.

Once the colors are selected, the following fall décor tips are recommended to freshen up homes this season:

Look outdoors for inspiration -- nature-inspired graphic details will be a big trend. A faux bois design on an entry floor is a stunning, unique way to welcome guests into the home.

Kitchens are getting more cozy and rustic this season. After a run of modern countertops, handmade tiles and weathered flooring will regain popularity and offer a more timeless feel.

Use grayed out wood tones throughout the home to show off wood grain. These tones work well as flooring, dining tables or even smaller accent pieces for a distinct, on-trend look.

Natural elements such as branches or stones are becoming increasingly popular as unique art displays. Display a branch or stone on a bookcase for a designer touch.

Look for products that show some life this fall. Handmade accent tiles, vintage items, distressed wood flooring and reclaimed materials are very popular this season.

Published with permission from RISMedia.


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Can Certain Colors Make Kids Smarter?

September 20, 2013 2:39 am

Yes, it's true - certain paint colors can enhance learning. While parents may not have much control over the colors in their kids' classrooms, they can certainly make sure the study area in the home is conducive to learning. Dunn-Edwards, a supplier of low and Zero VOC paints, provides paint for thousands of schools and universities throughout the Southwest, often consulting on color.

"The best palette is a range of colors using lighter hues with deeper accents to provide a stimulating environment," explained Dunn-Edwards color expert Sara McLean. "For example, a softened, sage green paired with a pop of orange catches the eye without being overwhelming. Creating a monotone color scheme tends to not work for children, as the lack of color doesn't engage the senses." She points out that nature-based greens create an atmosphere of calm and restfulness, therefore, easier places to study and learn.

Productivity or creativity? Choose your paint color. Softened yellows are cheery and warm, and if not too bright, yellow can assist in productivity. Blues tend to be spa-like and restful, and reminders of oceans and tranquility; studies have shown that blue rooms assist in more creativity. Violets and softened lavenders also are shown to engage children in increasing their creative senses.

Young children tend to be attracted to warm, bright colors. "Parents and teachers can see that just by looking down the toy aisles and looking at the brighter toys for young age groups. As children age, they grow to an interest towards pastels in elementary school to brighter medium-cool colors in middle school," McLean points out. "In high school, darker colors are preferred and there is less preference for primary colors."

If parents have any input on colors in school rooms, opt for blues, greens, violet and turquoise.

"Classrooms should incorporate a variety of colors to reduce the monotony and increase mental acuity. Warm colors tend to make large spaces feel more intimate, while cool colors make smaller rooms appear larger. By moderating the use between warm and cool, a classroom environment can make a child feel engaged without feeling overly stimulated," she added.

Source: Dunn-Edwards

Published with permission from RISMedia.


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After the Storm: Tips for Filing Insurance Claims

September 19, 2013 2:39 am

In the wake of a storm, homeowners may have questions about what damages are covered by insurance.

While each insurance policy differs, Pennsylvania Insurance Commissioner Michael Consedine offers the following examples of what is and is not covered in a typical homeowner's policy:
  • Flood damage. Standard homeowners and renters insurance does not cover flood damage. Flood coverage, however, is available in the form of a separate policy from the National Flood Insurance Program and takes 30 days to become effective. If your flooding was related to sewage backup, ask your insurance agent or carrier if an endorsement for sewer backup coverage was added to your homeowner's policy. If so, your losses may be covered if the water damage was caused by sewer lines backing up through your home's drain pipes.
  • Auto damage. If you have comprehensive coverage on your auto insurance policy, the damages sustained from flooding will be covered.
  • Power outages. Generally, there is no coverage for damage or a loss caused by a power outage if the source of the power outage did not occur on the insured premises. However, if the source of the power outage occurred on the insured premises, there is coverage.
  • Removal of trees and branches. The removal of downed trees and/or debris may be covered if there is damage to a covered structure or if state government declares the area where the damage occurred is a disaster area.
  • Additional living expenses. There may be an allowance for offsite housing until your home is repaired. Keep all your bills and payments made for offsite housing.
After you contact your insurance company, take pictures of the damage and log your expenses:
  • Do not throw away your damaged property and do not make any permanent repairs. Your claim could be denied if the insurance company or adjuster is unable to see the extent of the damage to your property. If you do make permanent repairs before the adjuster has seen the damage, your claim could be denied.
  • Be wary of anyone who knocks at your door and offers to do your home repairs. Natural disasters can be a magnet for scam artists.
  • Know your options when working with a property claims adjuster. You have the option of working with a company-appointed adjuster or you may choose to use a public adjuster to assist you in filing your claim. Be aware that public adjusters will charge a fee for their services.
  • Be sure you are working with a reputable, dependable contractor. Make sure your home-improvement contractors are licensed.
Source: Pennsylvania Department of Insurance

Published with permission from RISMedia.


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Ladder Dos and Don'ts for Fall Maintenance

September 17, 2013 2:36 am

With homeowners clambering up ladders to paint, clean gutters and perform other fall chores, the autumn months can be an especially dangerous time

Ladders play a big role in thousands of accidents around the home. A Consumer Reports analysis of data from the Consumer Product Safety Commission found more than 160 deaths and 170,000 injuries related to ladders in 2007, the latest year for which full data is available. And over the past five years, more than 500,000 ladders have been recalled "due to fall hazards."

The following dos and don’ts will help keep you safe while you are performing chores that involve the use of a ladder this season.

Inspection and maintenance
-Keep ladders clean and dry. Wipe the ladder off after each use to prevent deterioration.
Wear and tear can cause a ladder to fail. Check all types—aluminum, fiberglass and wood—for cracks, dents and missing components.
-Tighten reinforcing rods beneath steps and hinges, and check the lanyard on an extension ladder for deterioration.

Getting ready
-Set up your ladder on a firm, level surface. Use leg-levelers if necessary. Never stack objects, such as lumber or stones, beneath a ladder leg to level it.
-Lean a straight or extension ladder against a wall or other even, fixed object—never against a narrow tree or surface that cannot support both of the side rails.
-Set up an extension ladder with the base 1 foot away from the wall for every 4 feet the ladder reaches up- that's 3 feet at the base for a 12-foot ladder, or roughly a 75-degree angle.
-Use your stepladder only in the open, A-shaped position, never when folded. Make sure the spreaders are fully open and locked.
-Be sure that your extension ladder extends 3 feet beyond the roofline or work surface.
-When raising any extension ladder, be mindful of overhead power lines and other hazards.
-Before climbing, inspect the area where you'll be working for insect and bird nests. Check the area from below with a pair of binoculars.

Ups and downs
-Use the right ladder for the job. Always select a height that doesn't require you to reach up or out in a way that destabilizes the ladder; keep your belt buckle centered between the rails. Don't use a stepladder to get to the roof.
-When doing electrical work or working near an electrical power line, use only a wooden or fiberglass ladder. And remember that any ladder can conduct electricity when it's wet.
-Don't allow anybody else on the ladder with you.
-Climb and descend slowly, facing the ladder and holding the side rails with both hands (keep tools in a tool belt).
-Keep both feet on the ladder and center your weight between the rails at all times.
-Don't try to move the ladder when you're standing on it or try to "walk" it into a new position.
-Don't step above the labeled maximum height. Beyond that point, the odds of an accident increase significantly.

Source: Consumer Reports

Published with permission from RISMedia.


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Routine Eye Exams Could Save More than Your Sight

September 17, 2013 2:36 am

(Family Features) Regular eye exams are crucial to more than just good vision. They can also aid in early detection of health problems, such as diabetes, high cholesterol and high blood pressure. This is possible because the eye is a unique window into one’s overall health. It’s the only place in the body where, without surgery, medical professionals can see blood vessels, arteries and a cranial nerve.

During a comprehensive eye exam, your eye care professional will use drops to view the back of your eyes to check for damage or disease. There are several different eye conditions and diseases your eye doctor will be looking for during an exam, including but not limited to the following:

Diabetic Eye Disease: This disease occurs when diabetes damages the tiny blood vessels inside the retina. It is the most common cause of blindness.

Dry Eye: This occurs when the eye does not produce tears properly. It can make it difficult to perform some activities, including reading or using a computer for an extended period of time.

Age-Related Macular Degeneration: AMD for people aged 50 and over in the U.S. has increased by 25 percent over the last decade. The disease causes dim images or black holes at the center of vision. AMD rarely causes complete blindness, but there is currently no cure.

While annual eye exams are critical to your overall health routine, if you’re among the 50 million households in the United States without access to vision insurance, it’s tempting to forgo when cost is an issue. For those without vision insurance, the only options were to work for an employer that offered vision coverage, pay out-of-pocket or simply go without.

Even if you think your vision is fine and your eyes are healthy, an eye exam is the only way to be sure. Annual eye exams are an important part of your overall health routine. Remember, vision care isn’t just about seeing well – it’s about being well.

Source: VSP Vision Care

Published with permission from RISMedia.


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Tips for Dealing with Fall Allergies

September 17, 2013 2:36 am

Many Americans associate summer with "hay fever," a popular term for allergy symptoms caused by pollen and other air-borne outdoor allergens. But if you think allergy season ends with the onset of cooler weather, you might be in for an unpleasant surprise. Allergy symptoms can last well into fall, often until the first frost occurs. And according to COIT Cleaning and Restoration company, it is important for people who suffer with fall allergies to minimize the presence of allergens in their homes.

"Plant pollens can persist well into fall, and ragweed pollen is no exception," said Bob Kearn, president and CEO of COIT. Ragweed is one of the most prevalent plant-related allergens present in our environment. "These pollens enter homes on clothing, footwear, and even pets, and can especially be a problem once we start closing windows, trapping allergens indoors and preventing the circulation of fresh air through the home."

According to The Asthma and Allergy Foundation of America, approximately 75 percent of people who are allergic to spring pollen-producing plants are also allergic to ragweed. Ragweed typically begins pollinating in August, but the process can continue well into fall, which is why it is a problem for fall allergy sufferers. Ragweed pollen can travel hundreds of miles and cause problems even in regions where the plant's growth is less prevalent.

Mold, which thrives in damp areas both indoors and outdoors, can take hold in basements, bathrooms, and near leaky pipes. In the fall, piles of damp, raked leaves can become breeding grounds for mold, and mold spores, like ragweed, can become airborne.

Once ragweed, mold spores, and other allergens (such as dust mites) enter the home, they can be ground into carpets and furniture and can circulate through the indoor environment when the furnace is turned on in colder weather.

COIT recommends a number of steps to minimize the presence of fall allergens in the homes of allergy sufferers. Regular laundering of clothing (including outdoor wear) is critical. Bathe pets regularly, and ask family members and guests to remove footwear before entering the home. You can put a small sign near the door with a boot tray beneath it and provide clean slippers for use in the house. Wash bedding and towels at least weekly in hot water, and dispose of old pillows that might harbor dust mites.

Carpeting, upholstery, draperies and blinds are notorious for collecting dust and allergens. The beginning of fall is a good time to schedule professional cleanings to eliminate allergens that have collected in the house over the summer. Families with allergic individuals should consider scheduling additional cleanings at the end of fall. If you suspect mold in kitchen or bathroom tiling or grout, a professional Tile and Grout cleaning might also be in order.

Despite the prevalence of fall allergens, there are many ways to minimize their presence in the indoor environment and to help make family members who suffer from allergies more comfortable.

Source: COIT

Published with permission from RISMedia.


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Can Schools Monitor Students on Social Media?

September 16, 2013 2:36 am

Are schools allowed to monitor their students on social media? Middle and high schools in Glendale, Calif. are doing just that. School officials have hired a company to track 13,000 students' online posts on Instagram, Twitter, Facebook, and others, paying more than $40,000 a year for the service, CBS News reports.

Glendale's superintendent says the reason behind this somewhat drastic new measure is an emphasis on student safety. It also allows school officials to intervene if students are discussing suicide, violence, substance abuse, or bullying.

What are the legal implications behind this?

Government Action
The Fourth Amendment guarantees U.S. citizens the right to be free from unreasonable searches and seizures absent a warrant issued with probable cause. But it also requires government action and a reasonable expectation of privacy in what's being searched.

Government action doesn't apply when private persons are conducting the search. For example, if a friend is snooping in another friend's bag, this may be a violation of the bag-owner's privacy, but the Fourth Amendment wouldn't apply because the friend is not a government figure.

In the case of schools monitoring students' social media, however, Glendale's public school district does qualify as a government entity.

No Reasonable Expectation of Privacy
But the "reasonable expectation of privacy" part is where the Fourth Amendment test falls short.

Students in Glendale can't be seen as having a reasonable expectation of privacy when it comes to their social media posts, because whatever students are posting can be seen by the general public. Unless the firm hired by the school district is hacking into students' accounts or using their passwords, then there is no Fourth Amendment issue here.

A similar argument can be made when it comes to trash that one leaves out on one's curb. Courts have ruled that there is no reasonable expectation of privacy in trash left out by a curb for pickup, because the (former) owner of the trash knowingly put it out there in public.

So while it may seem invasive, the best way for students to approach this situation is to be informed about their rights. If they don't want their social media accounts to be viewed by certain people, they should set their profiles to "private" and limit the amount of information they share.

The social media lesson here: When you have a public profile, there really is no limit as to who can see this information.

Published with permission from RISMedia.


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Prequalification vs. Pre-approval

September 16, 2013 2:36 am

Prequalification and pre-approval may start with the same three letters, but there's a big difference between the two when it comes to your mortgage.

Prequalification takes about an hour and is conducted by a licensed loan originator or broker working for a particular lender. To obtain prequalification, applicants need to provide an application and have their credit pulled. Once this information is obtained and reviewed by the lender an applicant is awarded with prequalification status. Although this can be helpful for buyers to know where they stand, it does not necessarily lock in their rate or guarantee a particular loan at a given price point, says Chip Poli, CEO of a Massachusetts-based mortgage lender.

Pre-approval is different than prequalification in that your information has been underwritten by an authorized Underwriter. Mortgage lenders often provide in-house Underwriters because they can approve you for a home loan quickly and efficiently. Upon receiving a valid pre-approval, your next step is finding the right home for the right price. Once you find that home and it appraises for the agreed upon price or higher, you should be able to close your loan in a short period of time.

To get pre-approved for a home loan, be sure to fill out your mortgage application in its entirety. Leaving parts blank or incomplete will only make the process harder on yourself, says Poli. You will also need to provide certain documents concerning your assets, income and employment.

In order to ensure your home purchase goes as seamlessly as possible, consumers are better off applying for a pre-approval because it helps them truly have an idea as to what their budget is and protects them from hidden surprises once they find a house and apply for the loan. If you have a pre-approval in hand, it shows your real estate agent and the seller that you are a serious home buyer; in this market it is extremely important to the sellers that their prospective buyers have been pre-approved.

Published with permission from RISMedia.


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How to Protect Your Home - A Maintenance Checklist

September 16, 2013 2:36 am

Moisture intrusion is a leading cause of home maintenance issues and repairs. The American Society of Home Inspectors (ASHI) encourages homeowners to identify potential maintenance issues now before they become major repairs.

“When it comes to water intrusion, it’s not often a matter of ‘if’ but ‘when’ the moisture will take its toll," says Dan Schuerman, owner of Schuerman Inspections, LLC. "A maintenance inspection is the best way to safeguard your greatest investment from potentially costly repairs.”

Home Maintenance Checklist

A typical home inspection should include an evaluation of the roof to identify curling, shrinking, broken or missing shingles that may lead to costly leaks; an assessment of the perimeter of the home to look for signs of settling and for voids that will allow rain to enter through the home’s foundation; as well as a thorough inspection of the air conditioning system.

“While we don’t recommend that homeowners conduct inspections themselves due to safety precautions, there are several areas of the home that homeowners should pay close attention to,” adds Schuerman.

Schuerman encourages homeowners to visually inspect hose bibs (the threaded end of the outside water tap or faucet where a hose can be attached) for signs of frost damage; pipes for separated joints or splits; window and door screens for tears and holes; gutters for broken or loose pieces; and surfaces for cracking or peeling paint and caulking.

Before hiring an inspector, Schuerman advises homeowners to interview inspectors to understand what the inspection will cover and to verify the inspector’s experience. Below is a list of questions homeowners should ask their prospective inspector.

What does the inspection cover? Make sure the inspection and the inspection report meet the customer’s needs and complies with the ASHI Standards of Practice (available online at www.ashi.org).

How long have you been a home inspector and how many inspections have you completed? ASHI Certified Inspectors are required to have completed at least 250 paid professional home inspections and pass two written exams that test the inspector’s knowledge of competency. ASHI Members have passed the same exams and have performed a minimum of 50 fee-paid inspections verified by ASHI to be in substantial compliance with the Standards of Practice.

Are you specifically experienced in residential inspection? Related experience is helpful, but is no substitute for training and expertise in the unique discipline of home inspection.

Do you encourage your clients to attend inspections? This is a valuable educational opportunity. Purchasing a home is probably the most expensive purchase people will make. Taking the time to attend is well worth the time and effort.

How long will the inspection take? The average for a single inspector is two to three hours for a typical single family house; anything less may not be enough time to do a thorough inspection. Some inspection firms send a team of inspectors and the time frame may be shorter.

Will you prepare a written report? Asking to see sample report forms ensures the customer will be comfortable with the style of an actual finished report.

For more information, visit www.ASHI.org.

Published with permission from RISMedia.


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