BE MINDFUL OF YOUR HOME'S DRINKING WATER QUALITY

Despite the fact that municipally supplied water is tested regularly for safety and quality, it’s not a bad idea to check your own water supply at least once a year.

Water contamination can occur anywhere along the way to your drinking glass, even in your own water pipes. Of course, in addition to toxic or poisonous contaminants – which users of private wells are bound to monitor regularly – individuals might also be concerned about water hardness, or common elements such as chlorine or fluoride.

Whether you live in a house or a condo, you should at least know the source of your water, and how to confirm its quality. To satisfy your concerns, you can buy a testing kit, or check if your public health office will test your sample for you.

If, instead, you choose to purchase your drinking water, either in bottles or from a service company, make sure that it too, is tested regularly.

TOUCH-FREE CREDIT AND DEBIT CARDS-ARE THEY SAFE?

With their use expanding quickly, this is an opportune time to consider whether the newest “tap” or “flash” debit and credit cards are truly secure. 

These cards, called RFID cards, for “Radio Frequency Identification”, send a code to a retailer’s “reader” when you agree to make a purchase.

The information is sent via an encrypted signal, which can only be reused once at most. For added security, these cards may be kept in a shield or sleeve that blocks radio waves until you take your card out.

Wallets are now available with specific RFID card holders. Some security experts suggest that “tapping” is much safer than inserting your card and entering your PIN number in front of would-be thieves who want to access your information on the sly.

Check with your credit card company to see if they provide RFID cards. If so, you might want to consider changing or upgrading your present card to a RFID card. It may help protect you better from identity thieves.

AVOIDING COMMON FORMS OF FRAUD

Internet: Do not offer personal information to anyone requesting it online. Criminal hackers can use it to rack up purchases in your name.

Door to door: Never open your door to a stranger. Phony charities, utilities scams and unscrupulous employees (even from legitimate companies) can learn a lot about your security and home habits from a brief front-door encounter.

Person to person: A friendly or apparently needy person can cause us to drop our guard and open our wallets. Always be suspicious of anyone asking for money or personal information.

Mutual acquaintances: Just because someone claims to know someone you know, that’s no reason to be trusting.

Online Phishing Scams-Don't Take the Bait!

Your tax payment bounced, your account is overdrawn, there's a problem with your savings plan, or a Nigerian prince desperately needs your help. Most of us at some point have received random urgent emails trolling for financial information or asking us to click a link to win a huge prize. It's a common scam known as "phishing," and if you fall prey to this crime, you risk having your bank account pillaged or your identity stolen.

Phishing scams can take a variety of forms, but one thing they have in common is that they cost consumers and businesses millions, even billions of dollars per year.

Here Are Some Common Tricks:

SMS phishing"-smishing"

"Smishing," a combination of text messaging (SMS) and phishing, is another scheme designed to trick people into divulging sensitive information via a Web link and false website, or a telephone number. The recipient might receive a text appearing to be from a trusted source such as financial institution asking to verify account information, or a retailer offering a free gift. Many people don't realize that their mobile phone is another source for scam artists who use the immediacy of text messages to their advantage.

Mass phishing

High volume "mass phishing" campaigns are sent by fraudsters to thousands or millions of consumers, and often appear to be from larger banks, Internet service providers, retailers, or the IRS. Victims are randomly chosen via sophisticated tools used to scan the Web and harvest email addresses, or through purchased or stolen lists. Many online users have learned to spot these emails, which are often suspicious and vaguewith salutations such as "Dear customer." According to Cisco Security Intelligence Operations, only about three percent of mass phishing emails are opened, yielding the attacker an average of $2,000 when the scam succeeds.

Spear-phishing

Personalized phishing attacks, known as "spearphishing," target fewer individuals than mass phishing campaigns, but the scammers are careful to choose people most likely to open the emails. Messages tend to look authentic, address their victims by name, contain a personal tidbit about the individual (such as employment), and seem to come from companies the victims have a business relationship with. Oftentimes, these emails contain links to fake sites or attachments with malware that can relay passwords and account numbers to the scammers. The payoffs are higher for cyber criminals approximately $80,000 per victim, according to Cisco.

7 Steps to Protect Yourself

1. Never "verify" account information via email

Your bank and legitimate companies will not ask you to disclose account details via email. Never give out your personal financial information in response to an unsolicited email, text, or phone call.

2. Watch out for links

Don't click any links in an email claiming to be from a bank or financial institution. If you scroll your cursor over a suspected link, your browser should show the actual address you'll be taken to. If it's different from the address of the legitimate website, then clicking may take you to a fraudulent site.

3. Steer clear of "urgent" messages

Don't respond to emails or texts that warn of consequences unless you validate your information. Contact the company directly using a telephone number or Web address you know are genuine.

4. Be cautious with attachments

Unless you trust the source and you're expecting them, it's best to avoid opening attachments or downloading files.

5. Look closely at spelling

Many phishing emails and websites include spelling and grammatical mistakes-errors your real bank or account provider would never make in a professional customer email.

6. Make sure websites are secure

When conducting online business, make sure sites feature a lock icon and an "https" URL to indicate security.

7. Safeguard your computer

Purchase up-to-date security software to prevent spam, viruses, and spyware.

With the speed and convenience of email and text, it's likely that tech savvy con artists will at some point attempt to steal your money or identity. By knowing more about phishing scams, you'll be able to recognize potential threats and avoid being hooked.

HIRING THE RIGHT PROPERTY MANAGER

Investors all over the world are placing their money in real estate. While some are buying properties for younger family members, others are using those properties for rental income. 

Here are a few helpful tips for hiring the right property manager.

One of the most important decisions you can make as a real estate investor is hiring the right property manage for your investment property. The difference between a cash-flow positive property and a drag on your finances can be an experienced, professional property manager.

You should always interview more than one property management company when you’re evaluating property managers, but do you know what to look for in a property manager? If not, these tips will help put you on the right path.

1. Find certified property managers first. Consult the National Association of Residential Property Managers (http://www.narpm.org/) to seek out property managers with certifications and designations.

2. Look for property managers with ten to fifteen miles of your property. You need managers who are willing to be hands-on and local when it comes to managing emergencies and conducting inspections.

3. Make sure your manager conducts monthly inspections. Just because they’re local doesn’t mean they’re up on inspections, so get a guarantee they’ll inspect the property each month.

4. Inquire as to how many properties the property manager currently manages. You want to be sure they’re not taking on more properties than they can handle. It’s important your property remain a priority.

5. Ask what sort of technology they use to help them manage properties. PropertyWare, Yardi, HERO, and Appfolio are some of the leading software packages on the market. Also be sure to check out their website and any social media presence they may have.

6. Be clear about fees. Make sure you understand every detail about the manager’s fee structure.

7. Ask them to detail their screening process for tenants. Don’t be shy about asking them what sort of modifications they’re willing to make based on your preferences.

If you’re new to real estate investing, I’d be happy to start you on the path to diversifying your holdings with real property. Curious what’s on the market now? 

Get in touch: valerie@valeriemcconville.com

5 OFTEN OVERLOOKED MOVING TIPS

Moving day can be stressful, but with the right amount of preparation, you can avoid costly and frustrating hang-ups. Check out these 5 often overlooked moving tips.

Moving is often listed as one of life’s most stressful events, but there are a few things you can do to make the transition easier. While you probably know some of the basic tips such as having a garage sale before you move, labeling your boxes by room, and filing “change of address” forms with everyone, there are some less-common tips which can save you time, money, and moving-day headaches.

Here are 5 often overlooked moving tips to help make your move a smooth one:

1. Measure doors at your destination and measure your large furniture. There’s no point in moving heavy, large objects if they won’t make it in the new house or condo. Find out what won’t fit and sell it before hand. You’ll save money on the move and the proceeds from the sale will help you purchase a more reasonably sized replacement piece.

2. Check for parking permits. You may not realize it, but your destination might have parking rules and regulations which require you to file for permits for your moving truck. Sometimes these permits can take a week or two to secure, so don’t leave this for the last minute! There’s nothing worse than a moving truck with nowhere to park (or costly parking fines).

3. Reserve your elevator. Moving into a high-rise condo or loft? You don’t get to wedge your sofa in the every-day elevator… you’ll need to use the freight elevator. The building may have rules for reserving the freight elevator, so check with the building in advance to make sure you have all the time and space you need.

4. Find free boxes. If you’re on a DIY moving budget, you’ll want to save some cash by hunting down boxes. Here are some places to hunt: Friends and family, grocery stores, liquor stores, and bookstores and libraries. The boxes may be “broken down” already, but putting them back into box shape is a simple process of folding and taping. You can also move clothes in plastic garbage bags instead of wardrobe boxes, which tend to be expensive.

5. Get moving company paperwork in advance. If you’re working with a mover, don’t get forced into signing a document on the day of the move. Ask for all of the contract information in advance and give yourself ample time to review it.

Preparation is key to a happy moving day. With the right amount of preparation and the help of friends, moving day can be a celebration, rather than a chore. If you’re thinking about making a big move soon, contact me for help selling your home or finding the right landing spot!

Email: valerie@valeriemcconville.com

UNDERSTANDING YOUR HOME'S EQUITY

If someone asked you how much equity you have in your home right now, could you answer them? 

Understanding your home’s equity is an important part of judging your overall financial health. Here’s a brief guide to determining your equity position in your home.

The dream of home ownership is about more than just a stable place to live, exempt from the whims and decisions of landlords. For many, home ownership is a piece of the wealth building picture, essential to a future retirement or financial independence. The idea is pretty basic: You purchase a home and pay it down while hoping the value of the home increases over time. Generally speaking, this is what happens over a long enough period of time. As you go, you build what’s called “equity.”

Equity is defined as “the market value of a homeowner's unencumbered interest in their real property—that is, the sum of the home's fair market value and the outstanding balance of all liens on the property.” If you were to sell your home and pay off the balance of the mortgage (and any other debts, such as home equity credit lines or liens), the cash you would have leftover is your equity. Your “equity position” changes over time due to a variety of factors.

As you’ve probably noted, the biggest variable in your home equity position is the home’s true market value. A variety of factors can influence your home’s value, including: Market demand for homes in your area, local amenities, schools, your home’s particular features, upgrades you’ve made, condition issues, and quite a bit more. So how can you tell your equity position?

First, you need to know what you owe on your home. This is as simple as checking your mortgage statement to see what your principle balance is on the loan. This number can differ slightly from your actual payoff amount due to closing dates, interest, and other issues determined during the sale, but generally speaking your principle balance is the number you need to know. If you have any other debt on the home, you need to add the value of this debt to the principle balance. This might include credit lines, liens, or second mortgages, for example.

Next, you need to know the value of your home. While there are sites such as Zillow and Trulia out there which will tell you what your home’s value is, these “automated valuation models” are generally not very accurate when it comes to your home’s value, as they exclude many crucial factors. Often they come in quite a bit higher. They can, however, give you an idea of general changing trends in your market over time.

Hiring an appraiser is one way to determine your home’s value from a more bank-like perspective. While an actual sale may be above the appraisal, this thorough, conservative option is a good way to go. The downside? You may have to pay up to $500 for the appraisal.

Of course, I’m happy to help you get a handle on your home’s current value with a comparative market analysis (CMA). 

Just get in touch today: valerie@valeriemcconville.com

LEGAL AND SECURITY ISSUES REGARDING IN-HOME SERVICES

Many of us don’t give a second thought to hiring housekeeping, house-sitting, or dog-walking services and often turn over our keys to these “strangers” so they can have easy access to our homes. Have you ever stopped to consider the risks?

You could be liable if one of these workers is injured in your home while completing job duties. 

Alternatively, your pet could become injured due to neglectful behavior by its sitter. You may even be in a position where you suspect that something valuable is missing from your home, but have no recourse for recovering it or receiving compensation.

To avoid such possibilities, experts recommend that homeowners hire such services from a professional, registered business, that can verify the extent of its liability coverage, either through the company’s insurance policy or in accordance with an agreed-upon contract that relieves you of certain liabilities.

At the very least, ask that your hire is bonded to protect you, and check with your home insurance policy to ensure that you are protected as well.

STEAM SHOWERS ARE THE HOTTEST THING IN BATHROOMS

One of the latest contemporary upscale trends in home renovations is the installation of a steam shower.

Although it can be an expensive renovation, it can provide a wealth of comfort for users, including relief from asthma and dry skin, in addition to many other therapeutic benefits.

Installation can be complicated, as a steam shower needs a generator to create the steam. Plus, the area needs to be well sealed during use and well vented after use, since steam and condensation can create an ideal environment for mold.

Despite the fussy installation details, steam showers are a very desirable addition that can contribute to a home’s resale value.

THE LATEST IN KITCHEN FIRE PREVENTION. WHAT YOU NEED TO KNOW

More fires start in the kitchen than in any other room. 

Those fires can be expensive; since even a minor incident, with no injuries, can result in significant damage. 

That’s why it’s important to keep up with the latest in fire prevention.

The most recent research tells us:

           

• Never leave cooking food unattended. Doing so is the number one cause of kitchen fires.

• Make sure cooking appliances, especially deep fryers, are safety certified by the appropriate government agency.

• When using oil in a frying pan, always heat slowly at no more than a medium heat setting.

• Always turn off stove burners and other cooking appliances immediately after cooking.

• Never attempt to put out a grease fire with water. Use baking soda or a fire extinguisher.

• Never remove or cover up a smoke detector due to nuisance alarms. The one alarm that isn’t a nuisance may save your life. 

Finally, experts say that if you can’t put out a fire immediately, get everyone out of the home and call emergency services.

HOW THE WRONG PRICING STRATEGY CAN COST YOU THOUSANDS

As you’re probably aware, the list price you set for your property has an impact on how quickly it sells — and how much you earn on the sale.

What you may not realize is just how significant an impact it has. Consider the following examples.

Example 1:

You price your property well above its current market value. As a result, many buyers don’t bother to see it because it’s outside of their price range. Those who do see it are confused by the high price tag, (and may even be suspicious.) They may wonder, “What’s going on?”

In this scenario, the home will likely languish on the market for weeks or even months. You might even have to lower the price dramatically to re-ignite interest.

Example 2:

You price your property just a couple of percentage points lower than what is necessary to gain the interest of qualified buyers. That might not seem like much of a problem. How much can a couple of percentage points matter?

Those points matter a lot.

On a $400,000 property, pricing your home just 2% lower than necessary could cost you $8,000 on the sale. That’s a serious amount of money!

So, as you can see, pricing your home right is serious business. Fortunately, a good REALTOR® knows how to set the right price. 

Looking for a good REALTOR®? Call today.