Ben Saunders

Questions to Ask Before You Add On

Ben Saunders — Sun, 20 May 2012 11:00:46 +0000

If you are thinking of adding an addition to your home there are some things you will wants to be aware of.

If you decide to add a new space, ask yourself the following questions:

* Can I finance the home improvement with my own cash or will I need a loan?

* How much equity is in the property? A fair amount will make it that much easier to get a loan for home improvements.

* Is it feasible to expand the current space for an addition?

* What is permissible under local zoning and building laws? Despite your deep yearning for a new sunroom or garage, you will need to know if your town or city will allow such improvements.

* Should I make the improvement myself or hire a contractor?

Many homeowners consider going to job alone to save money. Consider how much time you have, your level of expertise or willingness to handle the job, amount of help from friends or relatives, and how much you want, or need, to save by doing the job yourself. You could save up to 20 percent of the project cost through your own hard work.

Be aware, however, that you may need to call in the pros. Going it alone can sometimes lead to spending more time and money. if problems arise.

Most home improvement experts suggest that homeowners who do not have a lot of experience should stick to painting, minor landscaping, building interior shelving, and other minor improvements.

Renovations that Will Make you Money

Ben Saunders — Sun, 13 May 2012 11:00:48 +0000

Unlike most other investments, your home can actually make money for you. Using energy efficiency tax credits, making shrewd decisions about home improvement projects, and taking advantage of the work shortage in the building industry can all put cash in your pocket. As ranked by Remodeling magazine, here are some top money-making remodels:

1. Installing a new entry door (steel)

Job cost: $1,218

Value added: $1,243

Cost recouped: 102%

2. Garage door replacement

Job cost: $1,291

Value added: $1,083

Cost recouped: 84%

3. Minor kitchen remodel

Job cost: $21,695

Value added: $15,790

Cost recouped: 73%

4. Deck addition (wood)

Job cost: $10,973

Value added: $7,986

Cost recouped: 73%

5. New siding (vinyl)

Job cost: $11,357

Value added: $8,223

Cost recouped: 72%

Is Your Home Underwater?

Ben Saunders — Sun, 06 May 2012 11:00:43 +0000

Do you owe more than your house is worth? You are not alone. Many homeowners are finding themselves in with a house that they owe more than its current market value. So what should you do?

Here are some options for homeowners with “underwater” mortgages:

Stay and Pay

Compare the monthly mortgage payment, plus carrying costs like repairs, homeowner dues and taxes, to the cost of renting. If you decide to stay and pay, you may be able to get financial help to catch up with payments if you run into a financial hardship. For example, the Emergency Homeowners Loan Program (EHLP) provides interest-free loans to homeowners who have fallen behind on their mortgages. Make sure to check with a HUD-approved housing counseling agency in your area to find out which programs may be available to you.

Refinance

The Home Affordable Refinance Program (HARP) helps homeowners who qualify refinance into a low, fixed-rate loan. The program has been extended through June 2012. For those who qualify, the terms are similar to those of any other conventional loan, but without the steep mortgage insurance that is typically required when there is less than 20% equity in the home.

Loan Modification

A loan modification means lenders lower the interest rate and payment, either temporarily or permanently. Lenders will also typically extend the term of the loan or to allow borrowers to make up missed payments by tacking them onto the end of the loan or spreading them out over the remainder.

The most well-known modification program is the government-initiated Home Affordable Modification Program. The Treasury Department reports that homeowners who were successful in getting permanent modifications on their loans through this program saw a median reduction in their monthly payment of 40 percent—more than $520 each month—amounting to a program‐wide savings for homeowners of an estimated $4.5 billion.

Short Sale

A short sale is when you sell your home for less than you owe. For the homeowner/seller, the goal is to get the lender to approve a short sale and forgive any remaining debt. Lenders do not always accept a short sale. It seems to make sense rather than allowing a home to go into foreclosure, but the red tape involved in a short sale can sometimes be overwhelming. The Home Affordable Foreclosure Alternative program (HAFA) is a government-initiated short sale program.

Foreclosure

According to RealtyTrac, one in every 605 homes received a foreclosure filing notice in May 2011. Foreclosure can have financial, legal and tax implications. For many homeowners, this is their last alternative.

Bankruptcy

If you need to stop a pending foreclosure, bankruptcy may halt a foreclosure long enough to get a loan modification considered. Filing Chapter 13 can help you catch up on payments over five years without interest. You may be able to reduce or eliminate other debts, freeing up more money to pay toward the home mortgage so you can get back to positive equity more quickly. This can be a very serious decision so it is imperative that you talk with a bankruptcy attorney before the foreclosure or short sale is completed.

Financial Health Checkup

Ben Saunders — Sun, 29 Apr 2012 11:00:46 +0000

In today’s economic climate protecting your financial health is more important than ever. From health insurance to your plans for retirement, there’s a lot to consider. Here are some tips from Family Wealth Management Group, LLC to help protect your assets and financial future.

It is never too early to plan

In order to plan, you need to know what you have. Review your pension plan, 401 (k), IRAs, Social Security benefits and other savings plans to assess whether they meet your long-term retirement goals and will generate an income stream to meet your projected expenses.

Curb spending

Time to take an inventory on how much you spend. Keep a log on trips to the market, afternoon lattes, dry cleaning and all of your miscellaneous spending. Try to eliminate a portion of these expenses. Once you track them you will realize you are spending more than you thought.

Re-define your financial goals

Ask yourself where you see yourself in five, 10 or 15 years. See if it is possible to redefine your goals. You may be able to retire earlier or pay for college. Set goals to achieve the things you want.

Get help

Professional advice about investment losses, financial products, insurance coverage and other important issues will help you make the right choices for your current financial situation.

Keep This in Mind When Buying Land

Ben Saunders — Sun, 22 Apr 2012 11:00:45 +0000

There are many ways that you can invest in real estate. One way is by purchasing land. This option can be a very lucrative choice, as long as you keep the few important points in mind. The reason why purchasing land could be a viable option is because you get to pick your location, and build a home to your specs. This will allow you to find your own contractors to construct your building for you. By having full control over who you choose and what you pay, it becomes easier for you to save on costs.

Keep in mind that while you do have full control over who you choose to build on your property, it also means that there will be more responsibility hanging over your shoulders. For example, you would need to make sure that you have all the right permits to construct your building, and you also have to make sure that you choose the right contractors; otherwise the whole project can turn into a big catastrophe. Therefore, before deciding to purchase a piece of property that is completely void of any buildings, take some time to do some research, as this will save you a lot of headache in the long run.

Buying land in a down market can also be a great investment. Land is becoming harder to come by, which is creating a higher demand for land and in turn bringing the price up. Buying land now and holding onto to it could bring some great return. Think about it in 10 years from now there will be a lot less land and your lot could be worth a pot of gold. Invest now and reap the rewards down the road. Think of it like a savings account, you deposit money into a piece of land and watch your money grow!

What is Old Can be New

Ben Saunders — Sun, 15 Apr 2012 11:00:56 +0000

Is clutter taking over your life? There is a way to take your life back from the piles of junk collecting in your home and it doesn’t involve all of your things ending up in the landfill.

Here are just a few smart and frugal ideas for repurposing old stuff…

For Decorating

Use old hardware from dresser drawers to hang curtains.

Use junk CDs and DVDs as drink coasters.

For Organizing

Use oatmeal containers and coffee tins to store flour, sugar and mixes.

Use old doorknobs to make a coat rack.

For Outside

Use egg cartons, old jars, tins and yogurt cartons to make functional seed starters.

Use old wooden ladders as part of your landscaping, allowing ivy and other vine plants to climb them.

Use CDs to scare birds away from your berry garden. Hang CDs from a tree near your berry bushes. The shiny, moving objects will frighten birds, keeping them away from your sun-ripened berries.

Use Cooking Spray as an ice repellent. Spray both sides of a plastic or metal shovel with cooking spray and the ice will slide right off.

Repurposing items is easy if you start by changing the way you look at things. Next time you think something is trash, stop and think “how can I repurpose this?”

Advantages of Owning a Home

Ben Saunders — Sun, 08 Apr 2012 11:00:40 +0000

Living in an apartment can sometimes be a frustrating experience. Paying rent every month makes you feel like you are throwing money away.

Today’s housing market makes it a great time to buy and in some cases you can buy a home for less money than you are paying in rent. Living in an apartment with tenants above or below you in some older apartments can be noisy. Single family homes do not have this problem, as none of the walls in your home will be attached to any other home in your neighborhood. This in turn means that you will have more privacy, and more importantly, there will be less noise coming from your neighbors, no matter what time of the day it is.

Another reason why owning your own home is so great is because you will generally have your own yard, allowing you to have outside furniture, gardens and entertain which can be harder to do in an apartment

When it comes to shopping for a home, it is important that you do a good amount of research beforehand. While single family homes do have a lot of advantages, you have to make sure to take your time and find that perfect home for you. Some things to think about is location, neighborhood, schools, and being close to amenities like shopping, restaurants or other places that may be important to you.

One of the best ways to research for homes is on this website. This website is updated every 15 minutes with new listings, price changes, back on markets and open houses. This will allow you to easily browse through homes for sale until you find the perfect home for your needs.

Bottom line is buying a home today can be a great invest down the road and can come with a lot of benefits over renting. Feel free to call if you would like help in buying or selling your real estate.

Guide to College Savings Plan

Ben Saunders — Sun, 01 Apr 2012 11:00:45 +0000

College costs are rising. It seems almost an impossible task to save enough money to put your child through college. Here are some tips from Money Magazine on how to create a college savings plan. Creating a plan for college ahead of time will save you both time and money.

1. Saving for your own retirement is more important than saving for college.

Your children will have more sources of money for college than you will have for your golden years, so don’t sacrifice your retirement savings.

2. The sooner you start saving, the better.

Even modest savings can pack a punch if you give them enough time to grow. Investing just $100 a month for 18 years will yield $48,000, assuming an 8% average annual return.

3. Stocks are best for your college savings portfolio.

With tuition costs rising faster than inflation, a portfolio tilted toward stocks is the best way to build enough savings in the long term. As your child approaches college age, you can shelter your returns by switching more money into bonds and cash.

4. You don’t have to save the entire cost of four years of college.

Federal, state, and private grants and loans can bridge the gap between your savings and tuition bills, even if you think you make too much to qualify.

5. With mutual funds, investing for college is simple.

Investing in mutual funds puts a professional in charge of your savings so that you don’t have to watch the markets daily.

6. 529 savings plans are a good way to save for college and they offer great tax breaks.

Qualified withdrawals are now free of federal tax and most plans let you save in excess of $200,000 per beneficiary. Plus, there are no income limitations or age restrictions, which means you can start a 529 no matter how much you make or how old your beneficiary is.

7. Tax breaks are almost as good as grants.

You may be able to take two federal tax credits — the American Opportunity Tax Credit and Lifetime Learning Credit — in the years you pay tuition.

8. The approval process for college loans is more lenient than for other loans.

Late payments on your credit record aren’t automatic grounds for refusal of a college loan.

9. Lenders can be flexible when it’s time to repay.

There are still ways to cut costs after you graduate and begin repaying your student loans. For instance, there is often a one-quarter percentage point interest rate decrease if you set up automatic debit, in which monthly payments are automatically taken from your account.

10. Taxpayers with student loans get a tax break.

You may deduct the interest you pay up to $2,500 a year if your modified adjusted gross income is less than $70,000 if you’re single or less than $145,000 if you’re married filing jointly. The deduction can be taken for the life of the loan.

Open house at 21 Gaslight Ln Framingham, MA 01702

Ben Saunders — Tue, 27 Mar 2012 22:02:51 +0000

View Photos
Starts: 04/01/2012 2:00PM
Ends: 04/01/2012 4:00PM
For Directions: click on the map image or feel free to contact me.
For more information: click here for the full details

Opportunity to own this regal home sitting on 1.3 acres abutting acres of conservation land, privately situated at the end of a cul-de-sac! Interior boasts upgraded kitchen with center island, formal living and dining room, fireplaced family room, sunroom, master bedroom with California closet and master bath with double vanity, whirlpool tub and separate shower. Landscaped grounds with large rear deck, hot tub and inground pool. Seller will negotiate offers bewteen $700,000-$740,000.

Single-Family – Framingham, MA 01702 now has a new price!

Ben Saunders — Tue, 27 Mar 2012 16:00:27 +0000

This is a Colonial style home and features 13 total rooms, 4 full baths, 1 half bath, 4 bedrooms, 1.30 Acres, and is currently available for $700,000.

For complete details click here.