Here at Bedico Creek Preserve, we are about information for our builders, our buyers, our homeowners, our partners, and our vendors. If you are looking for a dependable source of information about real estate in Southeast Louisiana, specifically the Greater New Orleans area, please use our blog as much and as often as possible to read informative and timely real estate information. We promise you, you won’t be disappointed!

Tips to Clean Stubborn Windows

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No homeowner likes to take a Saturday to wash their homes’ windows but it is a chore that has to be done. Most of the time once you are finished, you see that they seem to never be completely clean. Here are some tips from the pros that can help you get them to sparkle and shine.

Get Rid of the Streaks

The trick is in the squeegee. You want to use a window-washing squeegee that has a smooth and soft rubber edge or if this is not an option, you can count on the trusty newspaper to do the trick. To use a squeegee you need to first dry the top or side of the window about an inch in and start to squeegee there. Another thing you want to do is make sure to wash windows in the shade and not in direct sunlight. If there is never shade, then choose to wash your windows on a cloudy day or in the evening.

Dusty Blinds and Midlewy Frames

If you dust your blinds to find them dusty again the next day, this is for you. In order to keep the dust at bay, spray your blinds with antiseptic spray. A good example is Static Guard. Using this on your window blinds immediately after dusting will keep them cleaner longer. When it comes to dusting your shades, you will need to do this once a month. Using a soft cloth or a Swiffer does the trick. If you do not have one of these, using a vacuum and its dusting brush will also work.

Mildew is a homeowner’s nightmare. To get rid of black or gray mildew spots on your window frame, use this cleaning solution. Take two ounces of household bleach and one ounce of laundry detergent in a quart of water and start cleaning. Remember when using this bleach-detergent solution, you should wear rubber gloves. To also keep your window sills clean, apply a coat of floor wax on them or spray them with a coat of WD-40 which will protect them as well.

Prolonging the Length of Clean Windows

If you notice that your windows seem to get dirty quickly, then you might want to think about changing your HVAC filters. Doing this once a month is the best practice because our homes today trap in a lot of dust, pollen, dander and other burdensome particles. Secondhand smoke is another problem that can shorten the life of a clean window. To clean you will need an ammonia solution that is the only thing that will cut the nicotine film. To make the solution you take one cup of lemon-scented ammonia in two and a half gallons of water.

These tips will help reduce the ever-annoying window cleaning problems. Not only do windows have these problems, but kitchen glass can also use these tips. Remember if you do this monthly you will keep a nice home with pretty windows.

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A Shift in Single-Family Market Share

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Overall we have seen across the county that single-family housing starts have slowed this year. In fact, the largest drop (percentage basis) has been seen in the larger populated areas. The hugest decrease was seen in the large metro-outlying counties which went from 23.6% in 2021 to -12.1% in 2022. Multi-family growth has been on the rise everywhere except highly densely populated areas according to the National Association of Home Builders (NAHB) Home Building Geography Index (HBGI).

We have seen changes since the pandemic in single-family marketing. A lot of people have been moving out of densely populated urban areas due to the pandemic. From the fourth quarter of 2019 to the fourth quarter of 2022, we saw a huge increase in Micro Counties from 6.0% to 7.4%. The biggest loss was in large metro-core counties which went from 18.4% to 16.0%.

Multi-family has remained in the positive and is above historical levels. In fact, six of the seven submarkets had growth above 15.0% during the last quarter of 2022. The smallest growth rate was seen in large metro-outlying counties which went to 35.7%. The trend is the same as single-family construction where even though it is still positive, there has been a drop since the fourth quarter of 2019. In fact, Large Metro-Core Counties went from 41.7% in 2019 to 36.7% in 2022.

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How Much of Your Net Worth Should Be in Real Estate?

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Ever since the first settlers came to America, real estate has been a worthy investment. Even with the volatile economy we currently are living in, real estate is still a pretty safe way to invest and grow your net worth. The home prices are high currently, but those that have recently invested in a new home will still see a good return. There are some homeowners who have too little or too much of their net worth invested in real estate which can result in problems. So what is the magic number when it comes to investing your net worth into real estate?

According to professionals in the industry, you should use anywhere from 25% to 40% of your net worth for real estate. This will include your home that you live in and other real estate investments. By doing this, it allows you to capitalize on the advantages of real estate ownership while giving you plenty of flexibility to pursue other avenues of investment and wealth development. This is a broad percentage range but your age, risk tolerance and other various factors will play a part in determining how much you should go with.

Investors will tell you that adding real estate to a portfolio is very beneficial. You can enjoy predictable cash flow, excellent returns, tax advantages and diversification. Remember there are several pros to real estate investments. Real estate can appreciate over time, bring you tax incentives, provide a large chunk of income, allows you to use leverage and build equity, and allows the investor to have direct control over the investment.

Investors will need to know first hand how to calculate how much real estate should go into their net worth. This can be calculated with a net worth formula which is net worth = total assets – total liabilities. There are net worth calculators online that will provide you with the figure. An investor should always know the information needed to calculate.

To make it easier, an investor will need to divide their assets into four categories. These include tangible assets (furniture, cars, collectables, physical properties, etc.), equity assets (ownership in stocks, investments in partnerships and businesses, retirement accounts, life insurance cash value, etc.), cash and cash equivalents (cash, money market accounts, checking accounts, savings, etc.) and fixed income (bonds, etc.).

Once you have this total, then you will need to add up your liabilities. This can be divided into two categories which are secured debts (car loans, home equity loans, mortgages, etc.) and unsecured debts (credit card debt, student loans, personal loans, taxes, medical bills, etc.). Once you have your total for your assets and liabilities you will apply the net worth formula.

Remember, it is very important to understand how your net worth is calculated and what information you will need to do this. If you are in the market for a home or a real estate investment, talk to a local realtor who can help you with a real estate transaction.

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Updating Homeowner’s Insurance Policy Is a Must After Making Renovations

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According to a recent study around one-third of homeowners did not know that they should update their insurance policy after a renovation. A survey done by The Hanover revealed that 61% of US home insurance policyholders are planning on renovations, but only 34% know to update their homeowners’ insurance coverage once the renovation is complete.

“Proactive outreach throughout the year also results in powerful conversations that give customers peace of mind that their age3nts are continuously looking for ways to protect investments and add value to the relationship,” noted The Hanover report.

Renovations will raise the value of a home, so you might not have enough coverage with your original policy. If you suffer a major loss, this could hurt you and your pocket. Usually when a renovation is completed, there needs to be a modified Coverage A amount listed on the original policy. This is important because it is reported that around forty percent of homeowners will renovate and spend more than $50,000.

Homeowners are staying put in what they have due to higher interest rates and rising home prices. Around 28% of those that planned on purchasing a home in 2022 said that higher interest rates and home prices encouraged them to stay put. Around seventy percent of those who were going to purchase a home said that rising interest rates and home prices affected their decision.

“These trends should prompt agents to talk with their customers to ensure their homeowners’ policies reflect the true value of their home after a renovation, and that their policies protect the investments they have made to their home. These conversations can help create a strong customer experience that reminds customers of the value their agent provides,” says Richard W. Lavey, president of Hanover Agency Markets.

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How Professionals Choose the Right Kitchen Cabinetry

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Your kitchen is one of the main and most important spaces of your home.  It goes with the old saying the kitchen is the heart of the home.  Kitchen upgrades are very important for this reason alone.  When upgrading the space, you want to make sure you choose the right cabinets.  Thomasville Cabinetry can help with the choice of your cabinets with the Thomasville Concierge program and can help you from start to finish giving you the perfect style of cabinet for your kitchen.  Here are some tips to use when choosing cabinets from professionals in the industry.
Select a Style
Jen Samson of Jen Samson Design says that a flat panel or shaker can be used in almost any style of kitchen.  If you love the traditional kitchen, choosing a traditional style with intricate woodwork design and trim will fit the bill perfectly.  A transitional look is something in between a shaker and the more ornate traditional look. “We like to add details, like a thin bead detail around the Shaker or v-groove for a fun, more Craftsman-style kitchen,” says Samson.
If you need to see the looks in your space, you can always contact a Thomasville Concierge who can bring samples to you in your kitchen.  They can help you with choices and refer you to a Thomasville technician who can answer questions when the cabinets are being installed.
Consider Shelving Carefully
Implementing shelving in your home and choosing just for show can make or break your design.  If you are a cook who loves your ingredients and does not want to have all your dishes perfectly displayed 24/7 then an open cabinet shelf is not the way to go.  If you like a tidy space, then this might be a perfect solution to displaying your favorite kitchen items.
“I like to mix open shelves and closed storage cabinets. If the home is more traditional, I still like to incorporate one open shelf, perhaps with a pretty brass rod detail on the front, to be used for cookbooks and displaying attractive objects.  When there are added design details like a rod or decorative brackets, open shelves can add to the unique personality of the kitchen,” Samson says.
Find a Finish
There are tons of options for finishes such as laminates, matte paint, glazes and stains.  One big factor to decide on before deciding on the finishes is if you want a cabinet in color or more of a natural look with a stain.  A stained wood cabinet is a classic feel but a laminate cabinet is very easy to clean.
Size Storage Up
A professional like a Thomasville Concierge, can help with not only the design, but also choosing the right amount of counter space and storage.  If you customize your kitchen, you can lay it out and choose specialty storage options that will work best for you.  Options like wall lift-up cabinets are a great option if you need to have a place to hide appliances that are used frequently.
Remember everything from the hardware finishes,  to the style of the cabinet itself is important and needs to fit your style.  Having a professional help you along the way will not only be a benefit but also help alleviate the stress allowing you to enjoy the whole experience.
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Factors That Help Determine Your Mortgage Rate

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The lower the interest rate, the more you can spend on a new home but 2023 is seeing a rise in the rates. If you are in the market for a new home, you want to lock in the lowest rate possible. Trusted lenders are a great resource to have when it comes to your mortgage rate. Here are four things that will help determine your mortgage rate.

Your Credit Score

“When you build and maintain strong credit, mortgage lenders have greater confidence when qualifying you for a mortgage because they see that you’ve paid back your loans as agreed and used your credit wisely. Strong credit also means your lender is more apt to approve you for a mortgage that has more favorable terms and a lower interest rate,” explains Freddie Mac.

A better credit score leads to a lower mortgage rate so you want to make sure you keep a good credit score. If your score needs improving, a lender can help with advice on how to best do this so that when it comes time to get approved, you will get the best rate.

Your Loan Type

“There are several broad categories of mortgage loans, such as conventional, FHA, USDA, and VA loans. Lenders decide which products to offer, and loan types have different eligibility requirements. Rates can be significantly different depending on what loan type you choose,” comments Consumer Financial Protection Bureau.

Keep in mind that there are several types of loans and each loan will offer different terms for each qualified buyer. When looking into a loan, contact your local real estate advisor who can tell you what is available in your specific area and which types of loans it looks like you would qualify for.

Your Loan Term

Just like a loan type, there are also different loan terms that are available. These can all be different according to your situation and the life of your loan.

“When choosing the right home loan for you, it’s important to consider the loan term, which is the length of time it will take you to repay your loan before you fully own your home. Your loan term will affect your interest rate, monthly payment, and the total amount of interest you will pay over the life of the loan,” according to Freddie Mac.

Your Down Payment

“In general, a larger down payment means a lower interest rate, because lenders see a lower level of risk when you have a more stake in the property. So if you can comfortably put 20 percent or more down, do it – you’ll usually get a lower interest rate,” explains the Consumer Financial Protection Bureau.

If you are a homeowner and want to move, you can use the equity from the sale of your home as the down payment. A lender can help you determine the difference if you put a higher down payment down up front.

These are several factors that are looked at and will help with how much your mortgage rate will be. If you are searching for a home, go ahead and find a local sales agent and a local lender who can help you through the process.

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