Love Letters Or Liability Letters? When Buying Or Selling A Home...

Love is in the air... this week Vikki discusses "love letters" and how they could violate the Fair Housing Act for sellers and buyers. We share some tips on how to buy or sell the home you love without becoming a liability. Vikki Crossland and Brandi Cook Meybohm Real Estate #thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #realestate #realtors #loveletters #liabilityletters #fairhousingact #homeiswheretheheartis #dreamhome #weeklyvideo #vikkiandbrandi #welcomehome #listingagents #buyersagents #teamwork #tipsandtrends #buyerssellershomeowners #themoreyouknow #learn #wesellscandga #licensedinscandga #yourhomeyourlifestyleyourteam

Charities Spotlight: FOTAS (Friends Of The Animal Shelter) Aiken, SC

This week Vikki sits down with some furry friends (who are available for adoption!) and Kathy Jacobs, the Programs Coordinator at FOTAS to chat about some challenges the shelter faces (especially in the summer months) and how we, and you can help. This non-profit is near and dear to our hearts and does fantastic work for the homeless animals in our community. To learn more about adopting, volunteering, fostering or donating visit: https://www.fotasaiken.org/

Vikki Crossland and Brandi Cook Meybohm Real Estate

#thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #FOTASaiken #fotas #animalshelter #adopt #volunteer #foster #donate #furfriends #companions #aikensc #friendsoftheanimalshelter #nonprofitspotlight #weeklyvideo #vikkiandbrandi #yourhomeyourlifestyleyourteam

Thoughts on Credit and Getting a Mortgage

 

Thoughts on Credit and Getting a Mortgage

Credit plays a huge role in getting a mortgage because it is a variable that helps the lender determine the likelihood that the loan will be repaid on a timely basis.  Credit bureaus evaluate people's credit worthiness using a FICO score.  The higher the score the better the borrower's credit. The mortgage rate charged to a borrower depends on their credit score.   There is an inverse relationship between credit score and interest rate changed.  The higher the score the lower the rate and the lower the score, the higher the rate.  Two separate buyers with the same income, purchasing the same price home may both be approved by the lender, but they may be charged different interest rates based on their credit scores. You could save thousands of dollars over the life of a loan by improving your credit score by just a few points.  A $350,000 mortgage at 3.5% has a principal and interest payment of $1,571.66.  By improving your credit score to qualify for a 3% rate, it would save $96.04 a month.  Over the life of the mortgage, that would save $34,575 in interest.  Improving your credit score to shave 0.25% off the rate would make it worthwhile. Credit utilization is the percentage of total credit used compared to the total credit available.  If you have a $2,500 balance on a credit card with $10,000 available credit, your utilization rate is 25%.  Ideally, it should be 10% or below.  This ratio accounts for 30% of a person's FICO score.  Credit utilization is calculated using the balance on the monthly statement so paying it off in full every month could still result in a high CU score.  Some credit counselors suggest paying down the balance before the end of month statement comes out.  A trusted mortgage professional can make specific recommendations like how to improve your credit utilization.  Your credit score can be adversely affected if your credit limits are lowered.  You may have the same monthly outstanding balance you have had for years but it now becomes a larger percentage of your available credit and your score goes down.  In the example used earlier, if the available credit was lowered to $5,000 and your balance is $2,500, the credit utilization is now 50%. Payment history is the largest contributor and counts for 35% of an individual's FICO score.  It is an indication of your likelihood of paying on time and as agreed for your debt, especially mortgages, credit cards, student and car loans, among others. A big shock to some borrowers is to find out that while they may have never actually incurred a late fee because of a grace period, their score could be dinged because it was not paid on time of the actual due date. Foreclosures, deeds in lieu of foreclosure and bankruptcies will affect a borrowers payment history as long as they appear on the credit report. Americans are entitled to a free annual credit report by law from the major credit companies: Experian, TransUnion and Equifax.  AnnualCreditReport.com is the source for these federally authorized reports.   During the Covid-19 pandemic, they are offering free weekly reports. Even if you are not buying a home or getting a mortgage currently, it is a good routine to check your credit report periodically to discover signs of identity theft early.

Aiken-Augusta, CSRA kayaking and stand-up paddling (SUP), local favorite...

SUMMER SUMMER SUMMERTIME… looking for fun, outdoor local activity? This week Vikki and Brandi share one of their favorite’s and the local hot spots they go in the Aiken, SC-Augusta, GA, Central Savannah River Area (CSRA). Vikki Crossland and Brandi Cook Meybohm Real Estate #thesearchisover #aikenhomestam #meybohmrealestate #csra #theplacetobe #summertime #outdoorfun #kayaking #SUP #savannahriver #bettysbranch #colewatkinstours #familyfun #friendfun #groupfun #paddle #savannahrapidspavillion #augustacanal #stallingsisland #nature #lakeolmstead #getoutdoors #aikensc #augustaga #wesellscndga #licensedinscandga #yourhomeyourlifestyleyourteam

"Mise En Place" The Homebuying Recipe

This week Vikki and Brandi discuss how the cooking term "mise en place" can be related to the homebuying process.... while attempting to be as smooth as "salt bae" in the kitchen. Bon appétit! And remember if you're ready to buy we can help you get the ingredients ready for your next move. Vikki Crossland and Brandi Cook Meybohm Real Estate #thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #brandiandvikki #weeklyvideo #tipsandtrends #homeowners #buyers #sellers #realestate #miseenplace #bonappetit #makeamove #saltbae #fun #ducksinarow #realtors #heretohelp #themoreyouknow #wesellscandga #licensedinscandga #yourhomeyourlifestyleyourteam

Outdoor FUN at HOME

Over the last year, one thing we've learned is... make HOME FUN! This week Vikki offers a few Tips and Trends on how to have outdoor fun at home. Simple or grand additions can make your family feel on vacation even when you aren't actually on vacation. Stay tuned to our pages for even MORE ways to make your indoor and outdoor spaces your own private "getaway". Vikki Crossland and Brandi Cook Meybohm Real Estate #thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #outdoorfunathome #staycationvibes #homeiswherethefunis #weeklyvideo #tipsandtrends #staytunedformore #garden #pool #firepit #lounge #enjoytheoutdoors #lovewhereyoulive #livewhereyoulove #splishsplash #pooltime #hometown #realestate #realtors #wesellscandga #licensedinscandga #csra #yourhomeyourlifestyleyourteam

NEW LISTING: 3179 Banks Mill Road, Aiken SC

Yesteryear Charm Plus Modern Conveniences of Today. YOU will love this pristine farmhouse with abundance of character, delightful décor and relaxing front porch that welcomes you home every day. 2 Bedrooms | 2 Bathrooms | 1800+ Sq. Ft | 1 Acre | 2 Stall Barn $249,900 Vikki Crossland and Brandi Cook Meybohm Real Estate #thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #aikensc #newlisting #moveinready #thegoodlife #csra #realestate #barn #moveinready #bringyourhorse #realtors #listingagents #buyersagents #livewhereyoulove #lovewhereyoulive #yourhomeyourlifestyleyourteam

New Listing: 197 Dominion Drive, Aiken SC

The GOOD Life is YOURS… Meticulously maintained outside is a superb greeting to inside that offers magnificent dimensions & design. 5 Bedrooms | 3 Bathrooms | 2900+ Sq. Ft $289,900 Vikki Crossland and Brandi Cook Meybohm Real Estate #thesearchisover #aikenhomesteam #meybohmrealestate #theplacetobe #aikensc #newlisting #moveinready #thegoodlife #csra #realestate #realtors #listingagents #buyersagents #livewhereyoulove #lovewhereyoulive #spacious #yourhomeyourlifestyleyourteam

Is a Home Inventory Necessary?

 

Most homeowners have insurance on their home that additionally, gives them coverage on their personal property.  That is the first level of peace of mind to know that it is available to you if there is an unfortunate need for it from a burglary, fire, or some other insured circumstance.

Personal property is handled slightly different than real property.  The claims adjustor could start by asking you for a list of the things lost.  You are allowed to reconstruct it but there is a distinct possibility that you'll forget things, sometimes for months or years after the claim was settled.

An interesting exercise would be for you to visualize two rooms, possibly, the kitchen and main living area.  Without being in the room, create a list of all the personal items in plain sight and those in the closets and cabinets.  When you're through with the list, go into each room to check to see what kind of things were not on your list and what the value of those items amounted to.  It could be substantial.

Remember, you are entitled to claim them regardless of how long it has been since you used them or if you do not intend on replacing them again.

When filing a claim, the more "proof" you have to substantiate it, the better off you are.  Receipts are great but chances are, you may only have them for the big-ticket items.  Photographs or video of the different rooms are great records that the items were in your home.

An itemized list of each room with a description of the content, cost and date of purchase, supported by pictures would be ideal.  This type of documentation will make filing and settling a claim much easier.   The more documentation you have, the more likely you are to have a favorable settlement.

The more expensive the item, the better it would be for you to have receipts, serial numbers and photographs.  A simple count of some items like clothing will suffice like four pairs of jeans, 24 dress shirts, etc.  More valuable items of clothing like a cashmere jacket or a silk dress should be listed individually. 

Depending on the frequency that you purchase new items for the home or possessions, you'll need to consider updating the list and photographs.  Moving creates opportunities to get rid of things that haven't been used for years and to acquire things for the new home.  It is always a good idea to complete a home inventory after you've moved and settled into your new space.

If you would like to have more tips and a form to itemize your possessions, download the Home Inventory.  This will even allow you to include pictures and store it in digital format for safe keeping.