Top Cities for Dog Lovers

Top Cities for Dog Lovers

A whopping 54.4 million households – or 44 percent – own at least one dog, according to the 2015-2016 American Pet Products Association survey. That trumps the 35 percent of cat-owning households.

Americans sure do love their pets. In fact, spending on pets has doubled from 2001 to 2015, up from $28.5 billion to $60.28 billion, according to the APPA.

In some cities, the number of dog owners, in particular, is growing. Realtor.com®’s research team sniffed out the 10 best cities for dogs, factoring in the percentage of households that own a dog as well as the number of dog parks and trails, dog-friendly restaurants, pet stores, and dog walkers.

These cities go to the pooches:

1. Charleston, S.C.

• Median home price: $349,000
• Households who own a dog: 68%

2. Temecula, Calif.

• Median home price: $519,000
• Households who own a dog: 85%

3. Las Vegas

• Median home price: $249,000
• Households who own a dog: 62%

4. Scottsdale, Ariz.

• Median home price: $596,500
• Households who own a dog: 69%

5. San Diego

• Median home price: $689,000
• Households who own a dog: 63%

6. Austin, Texas

• Median home price: $450,000
• Households who own a dog: 61%

7. Tampa, Fla.

• Median home price: $230,000
• Households who own a dog: 57%

8. Fort Collins, Colo.

• Median home price: $419,000
• Households who own a dog: 67%

9. Atlanta, Ga.

• Median home price: $314,900
• Households who own a dog: 54%

10. Seattle, Wash.

• Median home price: $609,000
• Households who own a dog: 52%

Source: “Top 10 American Cities for Dogs (and the People Who Love Them),” realtor.com® (June 6, 2016)

Test Your Website’s Mobile Friendliness

Test Your Website’s Mobile Friendliness

How business-friendly is your website? Luckily you can now find out using Google’s new business tool that tests your website’s mobile friendliness as well as the page speed for your desktop and mobile sites.

You just put in your website URL and you’ll instantly receive three scores from 0 to 100 based on mobile friendliness, mobile speed, and desktop speed. Google will then send you a more detailed report that will offer up some ideas on how you can improve your site in those areas.

Google gauges mobile friendliness on factors like whether your site has tappable buttons, is easy to navigate from a small screen, and has important information front and center. Mobile speed is factored in by how long it takes your site to load on mobile devices while desktop speed is measured by how long it takes to load the site on a desktop computer.

It’s not just consumers’ web connection that determines speed but also the elements on your website can have a part in how fast it loads.

Source: “Google Launches Business-Friendly Tool That Tests Your Website Mobile-Friendliness and Page Speed,” Search Engine Land (June 2, 2016)

Sellers May Have You Under Surveillance

Your conversations might not be so private when you’re on a home showing with your buyer. Reports are showing a rise in sellers using surveillance cameras around their home, from those hidden in hallways to a camera placed in that smiling teddy bear in the corner.

Home surveillance cameras are allowing owners to monitor the activity inside and outside their home in real-time. Multiple listing systems don’t require disclosure of such recording devices, real estate professionals say. But agents say they’re increasingly spotting them around homes, according to a recent Bankrate.com article.

Some real estate professionals say they aren’t creeped out by the surveillance cameras. In fact, they say it’s a positive thing to have in homes for sale, particularly to deter any thefts during home showings.

“There’s nothing wrong with it,” Jose Tijam, a real estate professional at Grand Avenue Realty in Los Angeles, told Bankrate.com. He has seen Nest and Canary cameras turned on in sellers’ homes. “The setup is easy and they’re motion-triggered, so if something moves, that sends an alert to the home owner and they can use their smartphone to see what’s happening in their home. … I don’t think home owners are doing it to be nefarious. It’s just that it’s their home, and they want to see what’s going on in their home.”

Some home sellers also may be using the cameras to find out what real estate professionals and buyers have to say about their home.

“It’s curiosity, but also making sure the agent is pointing out things [the seller] thinks they should point out and speaking about the house the way [the seller] thinks they should be speaking about the house,” says Janine Acquafredda, associate broker at House-N-Key Realty in New York’s Brooklyn borough. But Acquafredda says the cameras can leave a bad impression with potential home buyers if they think the sellers are snooping on them.

“No one likes being followed around,” says Acquafredda.

Source: “Buyers Beware: Some Home Sellers Use Home Surveillance Cameras to Spy on You,” Bankrate.com (May 27, 2016)

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Problems Uncovered in Home Inspections

Problems Uncovered in Home Inspections

Even a house that seems perfect may not be so when it comes to a home inspection, which is meant to discover potential problems with the home’s systems, appliances, and structure.

“Depending on the age, location, and type of house, the potential for problems will vary,” according to an article by the Ferris Property Group. “It’s also important to note that all houses — even brand new ones — will have issues show up on the inspection. Certain issues may be a deal breaker, like a collapsing foundation, but many other issues can and should be repaired after negotiation with the seller.”

Here are some of the most common problems inspectors say they uncover:

• Defective plumbing: Leaky faucets or problems with the efficiency of pipes can greatly affect the cost of a home’s utilities.
• Water damage: This can be caused by any number of issues, such as erosion of external grading material that has caused a slow leak into a basement. Water leaks also can lead to damage in a foundation or mold growth.
• Faulty roofing materials: Variable temperatures can cause cracks in some roofing materials, while other materials may be prone to rots or leaks.
• Cracked foundation: Foundation problems can surface from any number of issues, such as water damage, termites, rotting, or structural inadequacy.
• Over-worked electricity system: This also can represent a big safety issue. Inspectors say when they find an overcrowded wiring system it’s typically due to previous owners making adjustments to the electrical wiring.

Source: “Common Issues Found During the Home Inspection,” Ferris Property Group (May 11, 2016)

Banks Rush to Offer 3% Down Payment Loans

Banks Rush to Offer 3% Down Payment Loans

As some banks veer from Federal Housing Administration loans, they’re offering their own low down payment mortgages to appeal to home shoppers struggling to save enough to buy a home. Wells Fargo made headlines this week when it debuted its 3 percent down payment loan.

JPMorgan Chase also announced its offering called the “Standard Agency 97%” program, a 3 percent down payment loan geared for first-time home buyers and requires a FICO score of 680. Chase also has a loan program called “DreaMaker Mortgage,” which offers a 5 percent down payment – 3 percent of which can come from the borrower as well as flexible funding options for closing costs and reduced mortgage insurance requirements.

Other banks have recently announced their low down payment offerings. Earlier this year, Bank of America began offering a 3 percent down payment loan that did not involve the Federal Housing Administration and does not require mortgage insurance. The bank requires a minimum FICO score of 660.

Wells Fargo’s newly launching lending program, “yourFirstMortgage,” requires a 620 FICO minimum score and minimum down payment of 3 percent for a fixed-rate conventional mortgage of up to $417,000. Down payment assistance also can come from gifts and community assistance programs. Customers who complete a homebuyer education course can earn a 1/8 percent interest rate reduction, although the course is not required.

Brad Blackwell, executive vice president and portfolio business manager at Wells Fargo, says the monthly payment for the loan will be less than a government-insured FHA loan.

“We’ve taken all the complexity of the home mortgage lending process, removed it from the front-line consumer, so that it’s easy for them to understand and Wells Fargo is taking care of all the capital markets and other types of complexities behind the scenes,” says Blackwell.

Bank giants have been leery of FHA loans lately, with JPMorgan Chase CEO Jamie Dimon’s calling FHA lending “too costly and too risky” to pursue extensively.

“We have dramatically reduced FHA originations,” Dimon wrote in his yearly letter to shareholders. “Currently, it simply is too costly and too risky to originate these kinds of mortgages. Part of the risk comes from the penalties that the government charges if you make a mistake – and part of the risk is because these types of mortgages default frequently.”

Dimon acknowledges Chase’s new low down payment lending program also carries some of those risks, but he believes it responds to customers’ needs.

“Mortgages are important to our customers,” Dimon wrote in the letter. “For most of our customers, their home is the single largest purchase they will make in their lifetime. More than that, it is an emotional purchase – it is where they are getting their start, raising a family, or maybe spending their retirement years. As a bank that wants to build lifelong relationships with its customers, we want to be there for them at life’s most critical junctures.”

Source: “Wells Fargo Launches 3% Down Payment Mortgage,” CNBC (May 26, 2016) and “Chase Quietly Launches Its Own 3% Down Mortgage Lending Program,” HousingWire (May 26, 2016)