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Monthly Quote

“An optimist is a person who starts a new diet on Thanksgiving Day. “

Irv Kupcinet, journalist, (1912 – 2003)

Tip Of The Month

You may think that your evergreens will “weather” the winter just fine since they retain their color throughout the season. However, like other plants and trees, evergreens need winterizing. Here are some tips to help your evergreens withstand the cold:

• Autumn watering. In winter, narrow and broadleaf evergreens lose water through their leaves and cannot replace it because the soil may be frozen. In mid to late fall, make sure the soil is watered well. You can even water in mid-winter if the temperature is above freezing.
• Preventing breakage. Evergreens can suffer breakage from the weight of snow or ice. Prevent this by fastening heavy twine at the base of the tree and winding it up to the top and back down again, in a reverse spiral. Be sure to remove the twine before growing season.
• Protecting young plants. Use burlap screen stretched around three stakes to protect young or vulnerable plants, especially those located in south, west and windy exposure areas. Wrap most of the plant, but leave the top exposed so the plant still gets sunlight.

(Source: Gardening All-in-One for Dummies, the National Gardening Association, Wiley Publishing, Inc., 2003)

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Mistakes Homebuyers Make

Is it possible that you are your real estate agent’s greatest source of stress? No? Find out for sure by perusing these top three mistakes buyers make:

1. Being utterly unprepared for the lending process. Before you consider making an offer on that perfect home, apply for a mortgage or get a pre-qualification letter. This is a good idea for two reasons. First, this is a good time to check on the status of your credit. Think this is unnecessary because your credit is spotless? Think again. You may be a victim of identity theft without even knowing it, or, if you have a common name, like John Smith, you may have been mixed up with someone else with the same name. You will not waste any escrow time if you correct credit report errors before making an offer. Second, your income may not be as straightforward as you think, and lenders might calculate income differently. If you are self-employed, you may have to prove that you have several years of sufficient income to qualify.

2. Not having chosen a lender. It is definitely a good idea to shop around, and even to play lenders off of each other to get better rates and deals. However, even if you have applied for a mortgage, you cannot wait until the last second to choose a lender. Before closing, there is a lot of third-party documentation to be done, such as appraisals, title work and verification. Although it is possible that this documentation can be transferred from one lender to another, it is certainly not a guarantee. If you change your mind, it may take a couple of weeks for these items to be changed.

3. Neglecting the “loan conditions.” “Loan conditions” are documents such as bank statements, pay stubs, tax returns or proof of insurance coverage. A lender may approve you for a loan, but there might be a few missing puzzle pieces before closing documents can be prepared. Don’t make the mistake of thinking that your closing documents will be forwarded to the closing agent right when you fax in that final statement. Sometimes loan conditions have to be met before your loan even gets to the underwriter. Keep in mind that your loan papers may be seven to 10 days away when you have submitted all of your documentation.

What is the greatest lesson to be learned? Be prepared! Before you even start looking for houses, it is advisable to settle on a lender, get pre-approved and have your loan documentation organized and ready to go.

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