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Smart Home: Homes of the Future

The Smart Home is the trend of the future. Our world is becoming more computerized and interconnected, and many of the everyday devices that share our homes are beginning to take part in what’s become known as the Internet of Things. In the past several years, remarkable advances in technology have allowed microchips to be made smaller and more cheaply, and easily integrated into some of our most mundane household objects.

We’re growing more sensitive to the increasing cost of energy and the environmental impact of choices that we make as consumers, and the market is demanding higher-efficiency and lower-cost options for the many machines that work for us on a daily basis. Advancements in product design have helped maximize the usage of electricity, gas, and water in our home appliances, and computerization has allowed those advances to go even further. These new technologies are enabling our devices to optimize energy usage, and they’re also providing extra measures of comfort and convenience in our busy lives.

Climate Control

Smart thermostats allow you to remotely control your climate systems, such as heating, cooling, and humidity, as well as set schedules. Some systems can communicate with your phone’s GPS to detect when you’re on your way home and activate systems to ensure that you’ll be comfortable from the moment you walk in the door. Smart vents are able to work in conjunction with your HVAC systems to further optimize climate control, closing off airflow to rooms that are rarely used or controlling temperature room-by-room.

Intelligent Lighting

Like an advanced version of those old-fashioned dial timers we used to plug our lamps into, smart lighting controls allow users to set schedules to turn individual lights on or off at certain hours. Beyond that, new technology enables sensors to detect when you’ve entered or exited a room and adjust lights accordingly or fine-tune the spectrum of the lighting to perk you up in the morning and calm you down as bedtime approaches in the evening.

 

Security Systems

There is a multitude of wi-fi enabled security systems on the market which allow the user to remotely view security camera feeds and other sensors, some of which are even equipped with cellular connectivity to provide an extra measure of safety in case your wi-fi connection fails. Satellite internet providers that offer advanced end-to-end encryption, such as BusinessCom, can also provide an added measure of security.

Gone are the days when you may have headed to work in the morning to realize halfway through the day that you forgot to lock the door on your way out. Now, with a smart door lock, you can simply pull out your phone, tap the button, and your home is securely locked. Perhaps that scenario will never occur because as you walked out the front door and out of range of your home wi-fi network, your phone sent a signal back to the house and locked the door for you!

Kitchen and Convenience

You’re at the grocery store and can’t remember whether you needed milk. Just pull out your phone and open the fridge to check! Smart refrigerators equipped with wi-fi cameras and information panels are just a single example of the plethora of kitchen and home gadgets that can make your life easier. Coffee makers, ovens, deep fryers, juicers, and even trash cans can be connected to the Internet of Things!

We’re only at the beginning of the smart home revolution. Many of these devices are very reasonably priced, and as the trend goes, they will drop in price as time goes on. Even though we’ve seen amazing advances in Internet of Things technologies, they’re still in their infancy. Only time can tell what’s next!

 

4 Tips for Buying a Home If You’re Disabled

Finding the right home is hard, especially for individuals who have special needs. It’s not an impossible process, but it is best to keep a few tips in mind to make sure that it goes as smoothly as possible.

Know Your Needs

The most important part of the process is knowing exactly what sort of housing you need to accommodate your disability. The more information you can provide to the real estate agent, the more likely they are to find something appropriate. There are times when finding an appropriate home on the market will be impossible, so it can also be prudent to meet with contractors so you can determine which houses can be renovated to meet your needs. According to Disability.gov, most renovations for this purpose only cost between $150 and $2000 dollars, so you should remain open to the idea of altering an existing home.

Take Your Time, But Act

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Finding a home can be a long and frustrating process, but it’s important not to rush things. Buying a home is a big decision, and it’s important not to forget any details that could make it hard to live with your disability in your new home.

On the other hand, it’s also important to act once you find something that does meet your needs. Nothing is more frustrating than finding your perfect home and losing it because somebody else bought it before you made up your mind. Take all the time that you need to make sure the home is appropriate, but be sure to act once you are positive that it is.

Look For Support

It may seem impossible to get your own home, but there’s plenty of support out there that can make the process easier. Many government programs, such as those offered by state governments and the federal Department of Housing and Development, offer financial support for disabled people who want to buy a home. Private groups, such as Habitat for Humanity, can also help build or fund a home. These groups usually work very closely with disabled individuals, so they know how to build a home that can meet any special requirements. Those organizations can take more than a year to go from applying to closing on a home, so it’s best to apply as soon as possible if you think they can help you.

Know Your Rights

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Disabled individuals face a lot of challenges when it comes to finding a home that meets their needs, so they shouldn’t need to deal with discrimination for landlords or real estate agents. Fortunately, the Fair Housing Act offers protection against that type of discrimination. Discrimination is relatively common in spite of that protection, so it’s important to know your rights before you hunt for a home.

In this case, discrimination includes advertising a home in a way that indicates a preference for people who are not disabled, refusing to sell or rend to a disabled person, or interfering with their ability to exercise their housing rights. They are also forbidden from offering different terms to disabled individuals than they would to anybody else. Disabled individuals are also entitled to make reasonable modifications to their home to accommodate their disability.

In the event of a violation, individuals are entitled to file a complaint to the United States Department of Housing and Development, which will attempt to resolve it. The HUD will start by attempting to reconcile the two parties, but if that fails the matter will go to court. The court can order the landlord to pay compensation to the wronged party, so it’s important for people to know their rights and be willing to fight for them. If you aren’t sure if you have a case, consider consulting an injury lawyer or other legal expert who has experience dealing with cases that involve disabilities.

 

Understand the Aug. 1 Changes to HUD-1, Closing Process

HUD-1 Going Away: Understand New Closing Forms, Procedures

The HUD-1 settlement statement and Good Faith Estimate forms are going away on August 1. The Truth in Lending Act disclosure is going away as well. In their place will be a new closing disclosure and a new loan estimate. There will be changes to the closing process as well, including a new rule requiring everything to be in place three days prior to closing. And last-minute changes face new hurdles. Learn about the changes in this walk-through.

There are also new rules for the closing procedure. One rule requires all forms to be ready three days prior to closing. NAR is recommending you actually get everything ready seven days prior to closing, so when you go into the three-day period, you don’t have to make any changes. Because making changes as the clock winds down comes with a cumbersome  set of hurdles.

What this means is, you and the other settlement service providers, including the lender and title agent, are under the gun to get everything squared away earlier than you have to today. And the buyers and sellers have to be cooperative as well, because if last-minute changes are made, a new three-day waiting period kicks in, at least in some cases.

The good news is, you have until August 1 to get familiar with the new forms and learn about the new closing procedures, and NAR is hosting a series of webinars on the topic. To learn when the next one is, go to Realtor.org/respa.

The video above, with Ken Trepeta of NAR Government Affairs, provides a concise overview of what to expect and also shares some tips on how to decrease the likelihood of snags in this new environment.

The CFPB’s goal in making these changes is to increase transparency for consumers. Start your education process by accessing the 5-minute video.

 

 

 

 

 

 

 

 

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Five Mistakes You Shouldn’t Make As a First Time Homebuyer

Buying a first home can be a daunting experience. Here are five common and costly mistakes that novice home buyers make:

1. Ignoring the costs of having a low credit score. Lower-score borrowers pay thousands of dollars in increased interest rates over the life of the loan.
2. Muddying the waters by shopping for other things before closing. Lenders continue to check credit scores right up until the time of closing. Too much shopping could cause the lender to take back the loan.
3. Scrimping on an inspection. Being surprised by the need for expensive repairs can be financially devastating.
4. Buying without contingencies. Buyers should give themselves an out if the inspection turns up problems or the bank raises the interest rates.
5. No money for insurance. Insurance can be surprisingly pricey. Buyers who don’t budget for it can face a nasty surprise.

Source: CNNMoney.com, Les Christie (04/19/2010)

 

Mitra Karimi

California Homebuyers: Limited Time Only: Tax Credit!

Californians have a brief window of opportunity to receive up to $18,000 in combined federal and state homebuyer tax credits. To take advantage of both tax credits, a first-time homebuyer must enter into a purchase contract for a principal residence before May 1, 2010, and close escrow between May 1, 2010 and June 30, 2010, inclusive. Buyers who are not first-time homebuyers may use the same timeframes to receive up to $16,500 in combined tax credits if they are long-time residents of their existing homes as permitted under federal law, and they purchase properties that have never been previously occupied as provided under California law.

Under the federal law slated to soon expire, a first-time homebuyer may receive up to $8,000 in tax credits, and a long-time resident may receive up to $6,500, for certain purchase contracts entered into by April 30, 2010 that close escrow by June 30, 2010. Additionally, under a newly enacted California law, a homebuyer may receive up to $10,000 in tax credits as a first-time homebuyer or buyer of a property that has never been occupied. The new California law applies to certain purchases that close escrow on or after May 1, 2010 (see Cal. Rev. & Tax Code section 17059.1(a)(4)). California law generally allows buyers of never-occupied properties to reserve their credits before closing escrow, but buyers seeking to combine the federal and state tax credits will not be able to satisfy the timing requirements for such reservations (see Cal. Rev. & Tax Code section 17059.1(c)(1)(A)). Other terms and restrictions apply to both tax credits.