You mentioned something about interest rates going up recently. What does this mean for me as I’m looking ahead to either refinancing or possibly making a move in the upcoming year?
Sincerely,
Interested in Interest Rates
Dear Interested in Interest Rates,
Fixed-rate mortgages are ticking upward. Freddie Mac says the average 30-year fixed-rate mortgage rose to 4.16%, up from 4.13% last week and the highest level yet this year. Although they are still historically low, rates are predicted to continue rising in 2017. Higher rates of course reduce the purchasing power of potential home buyers. But we are still far below the rates of the 1990’s, which topped out at more than 10%. The bottom line is that it might be a good time to buy a home to lock in a good rate, but there’s no need to panic.
Click Here to read why you shouldn’t panic about rising mortgage rates.
If you have a question for Karen, email us. You could be featured in an upcoming newsletter.
The holidays are a happy time for celebrating with family, friends, and co-workers. Unfortunately, this time of year can also be turned sour by a wide variety of clever frauds, unauthorized debit and credit card transactions, and bogus person-to-person scams. By the end of 2015, individuals, retailers, charitable donors, and companies were victimized to the tune of $1.5 billion… and that number is expected to have gone up in 2016.
Just as you protect your home with an alarm system, you should set up defenses for your credit and identity. During the holiday season, fraudulent activity spikes, but here’s how to protect yourself from the eight most common scams.
Big Data Breeds Data Breaches
Big data during the holidays is great for marketers; it’s a bonanza of consumer information to use to lure shoppers to Black Friday deals and the like. However, while companies wrangle in the chaos of holiday orders, scammers search for weaknesses in a company’s cyber-security. According to a top executive at one of the leading credit bureaus, “Data breaches are inevitable and most consumers are vulnerable to identity theft… especially during the holidays.” In fact, 25% more consumers were affected by identity theft during the holidays in 2015 than in 2014!
The best way to reduce your risk of data breaches is use cash for all your purchases. According to a survey by TransUnion, however, only 20 percent of shoppers plan to pay with cash. If you’re part of the 80 percent using plastic, use a credit card instead of a debit card. You have more purchase protection using a credit card than a debit card if a data breach occurs or fraud happens.
Other protections from data breaches include:
Using a low-limit credit card for online purchases so you can detect fraudulent activity.
Utilizing services like PayPal to lower the risk of your card information being lost at the retailer.
Package Theft
E-commerce is great for holiday shoppers… but it’s also great for thieves. Last year, Insurancequotes reported that 23 million people had packages stolen at their front door!
To prevent this from happening to you, have your packages delivered to your office or delivered to a pick-up area such as a UPS store or Amazon Locker. You can also set up tracking notifications so that you know when to expect delivery.
And while you’re waiting for your packages, be on the lookout for this scam: a note on the front door saying you have a package waiting for pickup. The note asks for a call, often to a pricey number that leaves you on hold for a long period while they collect premium phone rates, or it leads to a person asking for details on your personal information to “verify your identity.” If the note isn’t from a shipper you recognize, or if the Googled number isn’t found, don’t get involved.
Online Shopping Scams
The big brother of package thievery is the online shopping scam. Phony online stores lure shoppers in through searches and online ads, enticing you with low-priced, high-quality items. These “bargains” cost you not only money, but also hours of time trying to fight the fraudulent transaction. To put salt in the wound, once these websites nab your personal information, they often also infect your computer with malware that compromises your login to your online bank.
To avoid the pitfalls of the fake online merchant, only purchase from retail names you know and trust. You could also Google the site and look for reviews. Yelp is a legitimate site for reviews as is the Better Business Bureau. Before you make a purchase online, double-check that “https” appears in the URL, which signifies that the site has passed stringent security compliance standards.
Poisonous Holiday E-Cards
E-cards are popular during the holidays because they’re a free, fun, and easy way to catch up with friends and family members. But beware because it’s just as easy for scammers to use fake e-cards to steal your personal information. A lot of fake e-cards you may get are from your hacked address book or the hacked address book of someone you know. At first glance, the card may look legitimate, but once you open it, you’ve been phished.
The only way to avoid this from happening is paying attention to detail. The number one tell of a fake E-card is any kind of misspelling. The URL will have a subtle misspelled word or your friend’s name is misspelled. Usually the misspelled word will contain a number: T1msmith@comcast.net for instance.
Fake Apps
ConsumerAffairs is reporting a huge spike in fake apps. Scammers are using fake retail and product apps found in Apple’s App Store to steal unsuspecting consumers’ financial information. Many of these thieves rip off company or brand logos to make the fake app look real. So before you get that convenient retail or product app, make sure it’s legit.
Just as with fake e-cards, fake apps will seem normal until you start looking at the details. Before you download that convenient retail or product app, make sure you check for the following:
A nonsensical description
No reviews
No history of previous versions
Gift Card Scammers
Scam artists skim or copy the codes on the back of gift cards before they’re bought. After the card has been activated, the scammers drain the card’s funds.
To prevent yourself from becoming a victim of compromised gift cards, buy gift cards displayed behind store counters, make sure preloaded cards are still loaded, and make sure the protective scratch-off strip is flawless.
Malicious Charities
During the holiday season we all feel an extra sense of giving. Grifters and thieves play on this sensibility by creating false charities and hitting you up on Twitter, Instagram, and in your e-mail inbox.
There are online resources to help you verify the legitimacy of charities. The website Charity Navigator is a non-profit organization that rates over 8,000 U.S-based charities operating throughout the world. Another way to get free reviews and evaluations on national charities is through the Better Business Bureau’s Wise Giving Alliance.
Corrupted Wi-Fi
You’ll probably hit the mall this holiday for some in-person price checking, and you’ll probably have your smartphone, laptop, and/or your iPad with you. Please be careful because skimmers and scammers love to manipulate Wi-Fi signals in places like malls and coffee shops to gather your financial information. These people create Wi-Fi signals that mimic the signal you use, then hack your info when you connect to it.
To protect yourself from Wi-Fi manipulators, just don’t make online purchases with your credit or debit card when you’re in a public space.
Who Should You Turn To?
If you catch the trouble soon enough, credit or identity fraud can be an inconvenience. If you don’t, however, one instance can have long-term impacts. If, for example, someone bought an appliance using your name while you were trying to refinance your mortgage, then you might not get approved for the loan!
If you’re curious to know if you’ve been affected, or if you know your credit is in disrepair and need help fixing it, please let us know so we can refer you to our recommended professionals.
I’ve heard it’s a mistake to put your house on the market during the holidays. Did I miss my window to list my house or are there actual buyers out there who are looking during this busy season?
Sincerely,
New Home for the Holidays
Dear New Home for the Holidays,
When deciding to sell around the holidays, you need to take into account many factors such as: Are you being relocated? Have you found the perfect home? How long might it take you to prep your home for sale? Casual buyers are not looking during the holidays but serious buyers will be looking-and while you may not get a lot of traffic during this busy season, the buyers who are looking are ready. We here at KCR do a lot of pre-marketing so this helps get some traction without accruing days on the market. Feel free to call us-we’ll help you figure out the right time to maximize your selling potential.
If you have a question for Karen, email us. You could be featured in an upcoming newsletter.
Our world is full of risk at every turn—from perilous jobs to dangerous driving conditions. That’s why we all love to get back to our homes and not worry about everyday safety hazards. It’s great to feel comfortable and safe at home, but is it as safe as it can be?
Your home should be your haven: the place where you will be protected from harm. It should be a top priority, and yet every year 1200 people or more visit the emergency room during the holiday months due to accidents and unintended injuries sustained from hidden dangers around the home.
With a sharp eye and preventive action you can reduce the chances of lurking safety dangers for everyone who visits your home.
The Top 12 Home Safety Tips
GOODLIGHTING— Adequate lighting reduces the risk of tripping and falling both inside and outside your home. This is especially important in winters when days are shorter. Critical areas that need to be illuminated are the stairs, outdoors, and foyers. Make sure your street number is well lit and visible from the street to aid first responders find your home. The fix: Make sure adequate wattage is utilized and long-life bulbs and motion detectors are in place.
ELECTRICAL PROBLEMS?— Electrical issues, like a flickering light or a dead outlet, can be mild annoyances that actually signal serious dangers. If not addressed promptly, a faulty electrical system can result in house fires and shocks. The fix: If you’re experiencing any problems with your electricity, contact a professional right away. In your daily life, make sure electrical cords are not frayed or pierced and extension cords are securely connected. Do not run too many cords to a single outlet. Unplug small appliances, space heaters, and power tools when not in use.
DO ROUTINE CLEANING— Not maintaining your appliances leads to a greater chance of accidental home fires. The fix: Do simple tasks regularly like cleaning grease off your stovetop, emptying the lint trap on your dryer, and keeping your chimney clean and clear.
SMOKE AND GAS DETECTORS— Every home needs functional warning devices that detect smoke and gases. The fix: When purchasing smoke alarms, make sure they also detect carbon monoxide, a deadly gas that is especially dangerous because it is colorless and odorless. Replace the batteries every six months—or whenever you change your clocks. Create an emergency evacuation plan, build a preparedness kit, and practice regular safety drills with your family to ensure awareness of procedures.
SECURE YOUR HOME— Many homes now have the latest technological advancements but still rely on locks and hardware from decades ago to keep you safe from intruders. The fix: Do an audit of all entry points to your home—doors and windows and screens. If any do not have secure screens, locks, and deadbolts, have them installed. For those entry points that do already have door knobs, handles, and locks, make sure that they are in good working condition.
WHEN YOU ARE AWAY— We all enjoy long weekends and out-of-town vacations, but unfortunately that leaves your home vulnerable to intruders. The fix: Create the illusion that someone may still be there. Leave a TV or stereo on in the room where a burglar would most likely break in. Have neighbor pick up mail and the daily paper. Turn down phone ringers, keep blinds drawn, and don’t leave unsecured valuables in the home even if you think they are well-hidden. Never hide keys around the home or garden, and don’t leave notes on the door that suggest you are out of town.
HOUSEHOLD REPAIRS— Even if you are an expert and know your way around electrical, plumbing, car or other household repairs, proceed with caution. A poor repair could be a recipe for disaster. The fix: Call a professional or ask me for a referral from our trusted sources.
VEHICLE CAUTION— Remember that there is danger even before you drive on the street. If you are backing your car up, watch out for children and pets on the sidewalk and road. The fix: Be cautious and proceed slowly when driving vehicles in or out of your driveway. If your driveway does not have good visibility in both directions, walk down and look in both directions before you get in your car.
MAKE ITSAFE FOR VISITORS— If you are hosting friends and family, consider what additional safety challenges they may face. The fix: Put yourself in the shoes of a small child and look for low, hard edges, sharp objects, easy-to-open cabinets with chemicals and cleaning agents. Look for falling and tripping hazards that may fell seniors.
BRACE YOURSELF— Heavy objects are rarely braced in the home. Appliances, artwork, televisions, and aquariums present real hazards if they are knocked down by a person or a natural disaster. The fix: Strap and brace heavy objects and use security hardware for large artwork.
UNCOVER HIDDEN DANGERS— If your home was built before the late seventies, there’s likely lead in the paint under the top coats on your walls and windows, and there might be traces in the varnish used on many hardwood floors. In addition, asbestos often can be found in insulation and “popcorn” ceiling textures. The fix: Hire a licensed contractor to test for possible contaminants and remove them safely, especially prior to a remodel.
MOTHER NATURE— Your homeowners insurance will cover you in many instances, but did you know that you may not be insured against natural disasters like earthquakes, floods, tornadoes, and hurricanes? They typically require an additional policy. The fix: Contact your insurance agent to make sure you have adequate replacement coverage as home values escalate and coverage amounts can stay static. Discuss costs for adding disaster policies for the natural disaster most likely to hit your area. Finally, having a disaster and communication plan can minimize the risks.
Safety Dangers to Kids You May Not Think About
Do you have small children who live with you? Even if you don’t, with the holiday season rapidly approaching, your home may welcome friends with young children and older family members. This makes now the ideal time to survey home your home for potential safety problems.
OPEN WATER– Did you know that as little as an inch of water can be a major hazard? A pail of water in the yard, large puddles from a storm, even a washing machine can induce a small child to trip or fall into and become at risk. The fix: Watch for open ice chests and other standing water, and don’t leave toilet seats open.
SMALL BATTERIES– Button-sized lithium batteries power small electronic devices, including remote controls, watches, musical greeting cards, and ornaments. When accidently swallowed, they can get stuck in the esophagus and generate an electrical current that can cause severe chemical burns and tissue damage. The fix: Only let small children play with mechnical devices and toys under supervision, and make sure to put these items away when not in use.
WINDOWS AND STAIRS– Every year, more than 5,000 kids end up in the emergency room after tumbling out of a window. Combat that by installing window guards or window stops so kids can’t fall out. Stairs are another potential hazard for youngsters with less-than-perfect balance. The fix: Baby gates can prevent young kids from venturing up or down. Steps should always have firm footing and be clear of objects as even older people can slip and fall or trip on items left on the stairs.
FAMILY PETS– Cats can scratch a child not used to playing with finicky felines. The family dog may be big and loving but can outweigh a child by five times. Children can be easily knocked down, nipped, or even bitten by a dog not used to the activity of small children. The fix: Monitor play activity and make sure your pet is not getting anxious or annoyed.
CORDS– Babies can be strangled by cords on blinds and shades. The fix: Excessive cords of all types should be removed or secured down. Always keep cribs away from windows with loose cords.
Now’s the Time
With the upcoming holidays at hand, now is the perfect time to survey your home and address potential safety hazards to yourselves, your family, and your friends. It doesn’t take long, most fixes are very inexpensive and simple to do, and your efforts will pay dividends in peace of mind for years to come.
If you would like our advice on how to make your home safer and need a list of trusted sources for home repairs, please contact us today. It’s our business to ensure that your home is safe and secure for your family.
Karen Cannon Realtors (KCR) has recently been named one of THE 100 MOST INFLUENTIAL REAL ESTATE AGENTS in Georgia by Real Estate Executive Magazine. This award, which recognizes and celebrates outstanding customer service, hard work and thriving realty companies, will be presented at the Atlanta Mastermind Summit on November 17.
THE 100 MOST INFLUENTIAL REAL ESTATE AGENTS award is associated with the annual Mastermind conference—a dynamic event designed to share tools to help successful, experienced realtors break through to the next level. Mastermind 2016 was hosted by Tony Robbins, world-renowned business leader. Past Mastermind hosts have included Shark Tank’s real estate mogul, Barbara Corcoran and President George W. Bush.
“It’s an honor to be recognized by Real Estate Executive Magazine as being a top influencer in our area of expertise. We love what we do,” said Karen Cannon, founder and owner of KCR.
“We’re not only in the real estate business. We’re neighbors—we know our communities and that makes the difference.”
The KCR team continues to strive to be the local experts, specializing in Dunwoody and Sandy Springs and everywhere from Midtown to Milton. They are setting new standards of extraordinary service which has earned them the reputation as the most trusted and fastest growing independent real estate firm in North Atlanta.