January Predictions for Home Shopping

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In the market to sell a home or buy a home this January?  The media will be throwing REAL ESTATE news at you at every turn.  The market news most often discussed will be the NATIONAL market news and it may- or may NOT- reflect your local market.  Do be aware that what you hear may not always be what you get when it comes to your LOCAL Real Estate market.  And by LOCAL I do mean LOCAL- your Region of the state can differ from another region for so many reasons..your town can differ from an adjoining town..and at the HYPERLocal level your Neighborhood can have vastly different numbers from nearby neighborhoods.  So how do you know?  Talk to your REALTOR Get the DATA..not the stories…get the DATA and make informed decisions!  Happy House Hunting!  Here is a quick JANUARY PREDICTION from National Association of REALTORS , remember National is not always Local- give me a call today to discuss your local numbers… 860-575-5001  Talk soon!

Mortgage Rates Ending week of 26 SEPT 2019

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Mortgage Rates have been on the move- but in the right direction for buyers!!  Take a Look at Week Ending 26 SEPTEMBER 2019!

Freddie Mac reported the following national averages with mortgage rates for the week ending Sept. 26:

  • 30-year fixed-rate mortgages averaged 3.64%, with an average 0.6 point, falling from last week’s 3.73% average. Last year at this time, rates averaged 4.72%.
  • 15-year fixed-rate mortgages averaged 3.16%, with an average 0.5 point, falling from last week’s 3.21% average. A year ago, 15-year rates averaged 4.16%.
  • 5-year hybrid adjustable-rate mortgages averaged 3.38%, with an average 0.4 point, falling from last week’s 3.49% average. A year ago, 5-year ARMs averaged 3.97%.

 

Looking to buy or sell – Let’s talk!  Have questions about the market- ask for a market specific report and see what is really happening where you are looking!

Dawn McNary
REALTOR®
Ebby Halliday Rockwall
Rockwall TX
860-575-5001
dawnmcnary.realtor
dawnmcnary@ebby.com
“Making YOUR real estate dreams a reality!”
Licensed in CT & TX

Wish I had known Wednesday

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Today’s Topic is all about SELF STORAGE Facilities and your INSURANCE needs.

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We don’t all have sufficient space to store things at the house these days- nor room for this incredible Pole Barn type storage!!!  So the next best option is to move items we need to store to an off premise storage facility.  So what do you need to know and what do you wish you had known- when using an offsite storage facility??

(as it relates to INSURANCE)

Self-storage facility coverage and tips

  •  Some standard homeowners and renters insurance policies include coverage for personal possessions kept off-premises, including those in a storage facility. But your coverage may be limited to a percentage of your policy’s personal property limit. For example, if you have personal property limits of $50,000, you may only be able to get up to $5,000 for anything you don’t keep at home. Contact your agent if you need to increase your coverage.  Off-premises coverage includes theft and damage from fires, and other perils listed in the policy. However, it does not cover for damage caused by floodingearthquakesmold and mildew, or rodents.
  • Some self-storage facilities offer supplemental insurance. Before you buy it, read the contract carefully to check both the coverage limits and whether it is provided on an actual cash value or replacement cost basis.
  • Consider special insurance or storage for expensive items. If you intend to store valuable property—such as art, antiques, jewelry or furs—there may be dollar restrictions under your standard homeowners or renters insurance policy for theft. Ask your agent about adding a Personal Articles Floater to your policy in order to fully cover these items.
  • Create an inventory of items to be kept off-premises in storage so that you can keep track of your belongings and make sure you have the right amount of insurance.

Have questions about your insurance needs?  Call me today and I will get you in touch with our HomeTeam Insurance Agent!

Looking to buy or sell and have questions about where to begin or how to restart the process- text me your info and we can schedule a consult this week!

Dawn McNary
REALTOR®
Ebby Halliday Rockwall
Rockwall TX
860-575-5001
dawnmcnary.realtor
dawnmcnary@ebby.com
“Making YOUR real estate dreams a reality!”
Licensed in CT & TX

Reports to Look for this week

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Fall 2019

As Summer 2019 fades into Fall 2019 there are some Real Estate related reports we need to be on the lookout for this week.  New and Pending Home Sales for August and Personal income and Spending.  These reports will give you a snapshot into how the economy is doing across the country.  They are expected to be positive in general, but that doesn’t mean there wont be local blips in the reports.  We’ve said it before and say it again- Real Estate is HyperLocal.

Knowing what the Nationwide numbers look like is important of course, but knowing your local market is critical to being successful in buying or selling Real Estate on the best possible terms.

Interested in Buying or Selling- or know someone who is … ?? Let’s talk!

Dawn McNary
REALTOR®
Ebby Halliday Rockwall
Rockwall TX
860-575-5001
dawnmcnary.realtor
dawnmcnary@ebby.com
“Making YOUR real estate dreams a reality!”
Licensed in CT & TX

Wish I had Known Wednesday

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Wish I had known Wednesday is for you to take away just a little bit of Real Estate/Home Owner knowledge that, perhaps, you just never thought of or simply did not know to consider.  Today’s “Wish I had Known” segment is about ROOFING

Roof Claims

Do I Have Hail Damage to My Roof?

Common characteristics include:

  • Random damage
  • Impact marks
  • On wood roofs, splits with sharp edges

How Do I File a Roof Claim?

If you believe you have hail damage, but do not have a water leak, get a free estimate from a roofer before you file a claim with your insurance carrier.

Which Roof Contractor Should I Choose?

  • Select an established, licensed, or bonded roofer. Texas does not require roofing pros to be licensed. 
  • Get references as well as certificates of insurance (both liability and workers compensation), and verify they are active when your work is scheduled.

What Should the Roof Repair Estimate Include?

Request a detailed estimate (written or digital)

  • Quantity of materials needed
  • Labor charges
  • Work specifications
  • Approximate starting and completion dates
  • Payment procedures
  • Warranty details – review conditions that would void it

Be Alert

  • Use caution and ask questions before accepting a bid substantially lower than other bids for the same repair work.
  • Contact your local Better Business Bureau to check for complaints filed against the contractor.

No Waiving of Deductibles- not just good idea- it’s the LAW Texas HB2102

The first full paragraph states: “A person insured under a property insurance policy shall pay any deductible applicable to a first-party claim made under the policy” See Tex. Ins. Code §707.002. This really has always been the law but has been ignored and not enforced.

The new law creates a Class B misdemeanor offense of 180 days in county jail and a fine of up to $2000, for (1) a business who sells goods or services to provide such a good or service in such a prohibited manner (violating contractor), (2) an insured (policyholder)who commits an offense if the person, in connection with a first party claim knowingly submits or allows a claim to be submitted in violation of subsection c, (the violation section directly above) unless the insured person promptly notifies the insurer of the violation.

The new law provides that it is a violation of this law if a contractor:

  • Pays for
  • Waives
  • Absorbs
  • Rebates
  • Credits or Offsets or
  • Otherwise assists the insured in any other manner in avoiding monetary payment of the required insurance deductible or provides a good or service knowing that the insured will pay for the good or service with the proceeds of a claim under the policy and without the insurer’s consent to do so.

Reasonable Proof of Payment

Another key provisions is Section 707.004 provides that an insurer may refuse to pay a claim for withheld recoverable depreciation or replacement cost holdback until the insurer receives “reasonable proof” of payment of the deductible by the policyholder. “Reasonable Proof” is set out in the statute as consisting of a: “canceled check, money order under receipt, credit card statement, or copy of an executed installment plan contract or other financing arrangement that requires full payment of the deductible over time. Tex. Ins. Code §707.004.

 

Looking to buy or sell and have questions about where to begin or how to restart the process- text me your info and we can schedule a consult this week!

Dawn McNary
REALTOR®
Ebby Halliday Rockwall
Rockwall TX
860-575-5001
dawnmcnary.realtor
dawnmcnary@ebby.com
“Making YOUR real estate dreams a reality!”
Licensed in CT & TX

What to do in a FLOOD

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What to do in a FLOOD was once a question only heard in tidal areas (think coastlines).  However, as we are all too well seeing in the recent past, Flooding can occur just about anywhere.  Here area few helpful hints from GEICO as to what to do in a flood.  And of course if you do not know if you are covered for flood waters and you do NOT live in a FEMA designated Flood Zone, call your insurance specialist and find out what options you have available..(remember insurance usually has a 30day wait clause on claims- so if heavy rain is in this week’s forecast, even if you buy today, you probably wont be covered until a month from now…so get on this now!) Don’t be surprised….

 

What to do in a FLOOD Presented by GEICO

 

To read the full article- go to my Facebook page at Dawnmcnary Selling Homes @mcnaryrealty