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We Specialize in Myrtle Beach, SC Real Estate. Lots of options are waiting for you in Myrtle Beach, South Carolina and choosing the right realtors can help you in finding the perfect area and the right home for you and your family and make your dream a reality!  Let us help you in making one of the biggest, if not the biggest, decisions in your life.   

We were both born and raised along the Grand Strand and know the entire Horry County, so no matter what style of home you are looking for or what area you prefer, we can help you!  Please give us a call and let us help you make your dream a reality!  843-222-8566.

Eddie & Julie Boyd - The Boyd Team - Realtors

Myrtle Beach Real Estate - INNOVATE Real Estate

           

April 16, 2019

Making Sure Your Budget is Complete

10 Things You Left Out of Your Budget

Make Sure Your Budget Is Complete With These 10 Expenses

•••

When it comes to keeping your finances on track, following a budget is absolutely critical. But if your budget doesn’t factor in all of your expenses, you may find yourself going over each month without knowing why.

Make sure your budget isn’t missing any of these often-overlooked categories to ensure you’re allocating your money properly:

1. Fun Money

You need to treat yourself every now and then to keep your budget from feeling suffocating. A “treat” can be something as little as a magazine from the checkout aisle or a fancy latte from the corner coffee shop.

Allot yourself a certain amount of “fun money” each month that you can spend however you please, and you’ll find it easier to stick to your budget in other categories.

2. Eating Out/Entertainment

Along the same lines, you should also allow yourself some money for things like eating out, seeing a movie or grabbing a few drinks with friends. When you budget for these things, you’re able to splurge (within reason) without the guilt.

3. Clothing

If you’re not a big shopper, you may be able to leave this line off your budget altogether, but most of us do at least a little clothes shopping, even if it’s just a wardrobe refresh in the spring and fall or a new pair of boots for the winter.

Whatever your spending on clothes (and shoes, accessories and handbags), make sure to include it in your budget. You can give yourself a certain amount each month or put a little aside each month towards your annual purchases.

4. Subscriptions/Memberships

It’s easy to remember monthly expenses like utilities, but things like magazine subscriptions and gym memberships are often overlooked. If it’s something that will come of out of your wallet, you need to budget for it.

To budget for annual subscriptions, divide your cost by 12 and set aside that much each month to build enough for when they’re up for renewal. These budget worksheets can guide you through this.

5. Non-Monthly Bills

Don’t forget bills that are regular but not monthly. Utilize the same “divide by 12” method to set aside money for your annual payments (like property taxes) and quarterly payments (like your water bill or taxes if you're a freelancer).

6. Gifts/Special Occasions

Birthdays, holidays and anniversaries will crop up every year, so it’s easy to budget for those. Add up all of your annual special occasions and divide them by 12. Factor in not only the cost of presents, but any additional expenses like taking someone out for a nice meal or hosting a party.

Other occasions, like weddings, should also come with enough advanced notice you can work them into your budget for upcoming months.

7. Home Maintenance

Some home maintenance costs are predictable. You know you’ll be cleaning the carpets every spring and buying new flowers and mulch for your garden, so budget for these annual items.

For all the rest (like unforeseen repairs), allocate a certain amount each month to cover things as they arise. (If you’ve been a homeowner for any amount of time, you know that something inevitably willarise, so you may as well plan for it.)

8. Pet Care

Don’t forget your furry friends! Factor in everything from food to grooming to annual vet visits and vaccinations. If you like to spoil your pets, add in some extra for treats, toys and pampering.

9. Travel

You should budget for daily commuting costs (gas, parking, metro passes) as well as any annual travel like vacations or visiting family (which includes gasoline, food for the trip, hotel stays, etc.).

10. Savings

Last, but most certainly not least, be sure to include a line in your monthly budget for savings. Some people make sure they have enough for this each month by “paying themselves first,” or setting up automatic deductions from each paycheck to their savings account so they don’t find themselves “running out of money” before they can put any away.

Major savings to budget for: an emergency fund, goal-specific funds (like saving up for a vacation or your kids’ education), and long-term savings (i.e. retirement).

Posted in BoydTeam Blog
April 15, 2019

The Secrets of the "Invisible Rich"

The Secrets of the "Invisible Rich"

Woman mowing lawn
•••

If you ever wondered whether you could spot the invisible rich, the answer is that it would be very challenging. That’s because the invisible rich are just that—invisible. They are the people you see every day mowing their lawns, standing in line behind you at the grocery store, and riding up the elevator with you at work. They are the people who live modestly and without pretense. The invisible rich are the people who live well within their means despite that big number in their bank account.

Back in 1996, Thomas J. Stanley and William D. Danko released the book, “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy.” These millionaires next door are just like the invisible rich—they are people who don’t look the part. They aren’t the people buying the brand new Lamborghinis or jetting off around the world at a moment’s notice. Stanley and Danko conducted a series of studies to see just how the millionaires next door accumulated their wealth. While there are several key secrets of the invisible rich and the millionaires next door, below are a few of the most common secrets that we can all incorporate into our own lives.

Secrets of the Millionaires Next Door

  1. They don’t spend beyond their meansThe invisible rich do not stretch financially. They only buy what they can afford and don’t try to keep up with Joneses.
  2. They never stop learning. The invisible rich realize that an investment in their own education is the best investment that they can make. After all, knowledge is power—and greater knowledge can also lead to a bigger paycheck down the road. The invisible rich hop on every opportunity possible to continually learn.
  3. They look at lifetime earning potential when choosing their career. The invisible rich seek out professions that will provide the most financial security and stability.
  1. They save and invest earlyThe invisible rich understand the value of putting their money to work. Whether through retirement plans such as 401(k)s, IRAs, 529 plans for college or any other kind of savings plan, the invisible rich understand the concept of compounding and how money can grow over time.
  2. They have good insurance coverage. The invisible rich believe that the cost of insurance is worth it in order to protect what they own and their loved ones. Whether it be house insurance or life insurance, the invisible rich place great importance on protecting themselves and their family from unforeseen circumstances.
  1. They’re wise with unexpected cash windfalls. Don’t expect the invisible rich to go out and buy a new yacht with a large inheritance that was just received. Even if the invisible rich hit mega millions, you can expect this group of people to act responsibly with their newfound funds.
  2. They hold onto their houses and cars. The invisible rich don’t need the latest and greatest car model, nor do they need to live in a house with a mortgage that they will have to pay for a lifetime. Instead, the invisible rich look for cars with moderate loan payments and homes priced at a number that won’t leave them house poor.
  1. They avoid debt. The invisible rich believe in paying off their debt. They don’t let the balances on their credit card accumulate and prefer to pay bills off as they come in. 

If you want to join the ranks of the "invisible rich," now would be a great time to put as many of these secrets to work as you can.

Posted in BoydTeam Blog
April 13, 2019

Affordable Online Interior Design Options

 

Designed by Traci Connell of TCI Design Delivered

© Traci Connell/TCI Design Delivered

Fast, Affordable Online Interior Design Options

Spring is a busy time for home buying and renovating. These days, new internet-based businesses are helping homeowners get professional design expertise and merchandise more affordably and faster than ever.

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It was only a matter of time before the internet would disrupt how the design trade has worked for decades.

In the past, interior designers ordered almost every piece of furniture or decor from trade vendors on behalf of their clients, and billed them an hourly rate plus charges for purchases—typically, wholesale plus a markup or retail minus a discount. Then, it would take the merchandise months to be fabricated and delivered.

Obviously, homeowners were exhilarated when other resources emerged, such as HGTV shows, hip housing magazines, and online idea sites such as Houzz and Pinterest, allowing them to take a more active role in home design. The latest iteration to shake up the process is online companies that employ staff designers or freelancers with the goal of simplifying the designer-homeowner partnership and allowing the act of home furnishing to became transparent, faster, and more affordable.

The process typically works like this: Homeowners begin by filling out an online questionnaire to match them with the right professional. The survey covers personal preferences based on clients choosing their favorite product and design photos. Homeowners also enter their room sizes and a budget, which covers the company’s hourly rate or project fee, plus the cost of furnishings from online sources such as Wayfair, CB2, and Crate and Barrel. The design professional they’re matched with suggests purchases and room layouts, often without setting foot on the property. “Think of it as a variation on online dating,” says Chicago designer Tom Segal of Kaufman Segal Design.

Interactions with the designer can happen via email, phone, instant message, Skype, and sometimes in-person meetings. Before the homeowner signs off on a project, they are provided a floor plan or 3D rendering, which shows how to arrange the furnishings once they arrive. Since the first companies emerged in 2012, many have grown and added locations. “Most customers who come to us are too busy to do this on their own and are looking for an efficient, convenient way to gain a beautiful home,” says Alessandra Wood, vice president of style at Modsy, based in San Francisco.

Those were the reasons homeowner Carolina Poli decided to use New York–based Homepolish. While living in Brooklyn, she was building a house in suburban New York, working fulltime, and raising two young children. “I thought I could select it all myself but realized it was too big a job,” she says. Her designer Crystal Sinclair worked with her by phone, online, and in person. “The price was also much better than if I had worked a designer in the traditional way.” Some design firms also work with real estate professionals to stage rooms.

Here are a few online interior design firms gaining prominence.

Manhattan loft designed by Affordable Interior Design

© Dov Plawsky/Affordable Home Design

 

 

 

 

 

 

 

 

Affordable Interior Design: This New York–based firm, with branches in Washington, D.C., and London, provides online help through eight freelance designers who visit clients’ homes (unless they live far away). Founder Betsy Helmuth’s impetus was to provide affordable design that would expand her reach beyond her suburban New York design storefront. She offers two packages that each require filling out a questionnaire, sending in photos of rooms or items customers like, and supplying room measurements. Option one is $999 for a two-hour consultation for two rooms, a shopping list of up to 16 retail items with prices often discounted, two floor plans, a “mood” or Pinterest-style board, and a final presentation. The second option is a one-hour consultation for one room at $799, shopping list for up to eight items, one floor plan, mood board, and final presentation. Additional rooms each cost $599 and come with a shopping list for eight items, floor plan, mood board, and presentation.

Entryway 3-D design by Decorilla

© Sonia Carlson/Decorilla

 

 

 

 

 

 

 

 

Decorilla: Founded by Agnieszka Wilk in New York in 2012, the company now uses 10,000 designers across every state and reaches internationally as well. Decorilla also has an in-house staff who handle other parts of the job, such as coordinating delivery, dealing with returned goods, and managing construction. This company starts clients out with a questionnaire, but they can also search its website to pick a designer whose portfolio they like. The company offers three packages, from basic bronze for $499 for one room to gold for several rooms for $1,699, while offering clients access to highly experienced designers. Rather than providing one plan or rendering, four options are offered to clients with realistic renderings from two different designers. Each client also gets company discounts on more than 250 well-known brands such as Wayfair, Crate and Barrel, and Jonathan Adler. Many projects incorporate one-of-a-kind goods. Seattle designer Sonia Carlson worked on a gold-level package for eight rooms and exterior finishes for a new home in Pennsylvania. She and her client worked mostly via email and Skype, and they uploaded idea images over several months. Many pieces were sourced from Europe. For those who need less help, the company offers service starting at $75 an hour.

Room by Decorist Celebrity designer Jessica McCarthy

© Jessica McCarthy/Decorist

 

 

 

 

 

 

 

 

Decorist: Based in San Francisco, this online interior design company was launched in 2014 by Gretchen Hansen, a consumer marketing executive who found herself challenged when decorating her own home. A designer friend helped her via email, and the proverbial lightbulb went on. “If someone could help me that way, I could help others,” Hansen says. With a roster of approximately 400 interior designers, the firm handles design projects online only. After filling out a questionnaire, clients pick from three packages: the Classic Design Service for $299 per room with the industry’s most ambitious up-and-coming designers; the Elite Design Service for $599 per room with a locally established designer with regional press; or the Celebrity Design Service for $1,299 per room with a nationally recognized “A-list” interior designer. What a home owner gets: two “mood boards,” the chance to chat via instant message with the designer, a final room design board and floor plan, and a detailed shopping list. Decorist’s free concierge purchasing team members handle shopping and delivery.

Bedroom design by Seth Caplan of Homepolish

© Seth Caplan/Homepolish

 

 

 

 

 

 

 

 

Homepolish: Based in New York, this firm works with freelance designers, architects, and general contractors who use the partnership to increase their exposure to new clientele and gain access to its proprietary technology and tools to run their businesses more efficiently. Since Noa Santos started the company in 2012, it has grown to a network of 1,000 professionals nationally who take on not just residential but also commercial and hospitality projects. The company also has an in-house staff of 70. Designers visit clients’ spaces but can also work by video if they live far away. Prices begin at $140 an hour with a minimum of 10 hours required; hourly rates go up to more than $300 an hour. The company touts its extensive list of trade and retail vendors, and other services such as construction management. Homepolish team members make money by time spent rather than from commissions on client purchases. “There’s no incentive to buy more expensive furnishings,” Santos says.

Living room-kitchen combo designed by Modsy

© Modsy

 

 

 

 

 

 

 

 

Modsy: Shanna Tellerman founded her San Francisco–based company four years ago, which now works with 200 to 300 designers. They offer service online nationwide through video and telephone calls with four design packages available: basic for $69 per room with purchases delivered in eight to 10 days; classic for $89 per room and delivery in six to eight days; premium for $199 per room and delivery of goods in four to seven days; and multiroom at $399 for up to three rooms and delivery in four to seven days. For an extra $15, home owners can have any item they already own digitally inserted into their plan to see how it will look; a substitute but similar item can be inserted for free, says Wood. Plans or renderings highlight purchases with a white dot, which, when clicked, details the product information. Designers try to give clients choices in each layout, such as a sectional or sofa or different paint palettes.

Designed by TCI Design Delivered

© Traci Connell/TCI Design Delivered

 

 

 

 

 

 

 

TCI Design Delivered: Traci Connell started her online TCI Design Delivered business after recognizing that not everybody could afford the services of her original firm, Traci Connell Interiors. That firm requires home owners to spend a minimum on each of three rooms plus a designer fee rather than hourly rate. To help them get her decorating expertise at a lower cost, Connell and her staff have priced consultations based on room type and size—$1,080 for an entryway or $1,700 for a home office, for example. The first step for clients is filling out a questionnaire, followed within six to eight weeks by receiving a “presentation box” with a furniture and material book, paint samples, a detailed floor plan, remodeling finishes, and fabric swatches. Clients make their choices and handle returns themselves. Results for the two approaches aren’t the same, however. “There’s a huge difference between doing one room online versus the traditional way where there’s constant personal interaction, access to special touches, someone to help with ordering, installation, and making returns,” Connell says.


Design the Old-Fashioned Way

While online decorating can work well, it’s not the same as having a designer visit your home and work in person, says Tom Segal, co-founder of Kaufman Segal Design in Chicago. “When we’re not in the space, we don’t see how light enters the room, plays off the ceiling, or affects other colors and furnishings, or how people use their house. We also don’t see how traffic flows into the kitchen or throughout an entire floor,” he says. Another negative that Segal cautions is many of the products offered are mass-produced, so they don’t offer the same personalized look and feel that custom selections usually do. “They may not fit the user as well. For example, a sofa or chair may not be the desired width, height, and length, or have the right firmness or give,” he says.

Yet, Segal still considers online decorating a positive trend. “It’s a good way for those who’ve never worked with a designer to start understanding the process and [those] with smaller budgets to get a room furnished and often fairly quickly,” he says. Online decorating helps to demystify the process, so if owners decide later that they are ready to take the next step, whether it’s working on more rooms or allotting a bigger budget, they can switch to a traditional design firm, Segal says. “We’re all trying to be more transparent. In my firm’s case, we charge an hourly rate and generally a 35 percent markup on the net or wholesale cost. We also get 20 percent off certain retail purchases,” he says. The bottom line is that every design company works differently, so it’s important for clients to ask about costs up front, he says.

 

Source:  Barbara Ballinger

Posted in BoydTeam Blog
April 12, 2019

Today’s Pets Are Real Estate Influencers

April 11 marked National Pet Day, and it’s time to find a pet to appreciate, if not your own.

After all, pets have a big say in real estate. Eighty-one percent of Americans say animal-related considerations play a role when deciding on their next living situation, according to a 2017 report from the National Association of REALTORS®.Eighty-nine percent of those surveyed said they would not give up their animal because of housing restrictions or limitations. Twelve percent of pet owners have moved to accommodate their animal, and 19 percent said that they would consider moving to accommodate their animal in the future. REALTORS® surveyed said that one-third of their pet-owning clients often—or very often—will even refuse to make an offer on a home because it’s not ideal for their animal.

Pet ownership is booming across the country. Seventy percent of U.S. households own pets, up from 50 percent a generation ago, according to ProShares Pet Care ETF, an exchange traded fund focused on the pet care industry. Ninety-five percent of pet owners consider their pets part of the family, according to a Harris Poll.

“Dogs are part of the family, so it’s important to factor in our furry friends when choosing a place to live,” says Daryl Fairweather, Redfin’s chief economist. “Highlighting dog-friendly amenities like a spacious yard or a mudroom for dirty paws in your listing can make it easier for buyers to find the home of their dog’s dreams.”

What are some of the top pet-friendly amenities in homes? Real Trends recently highlighted several home essentials that buyers crave for their pets: ample outdoor space, pet nooks (like a tucked away nook with a built-in bed), a pet chat system (a way to communicate with your pet from anywhere using video or audio devices), pet washing stations (like in a mudroom or laundry room), and a pet door (a door insert so pet cans let themselves out and back in).

Some real estate professionals are adopting pet-friendly niches to express their love of pets, showing off their own pets on social media or even reaching out at dog parks with treats to connect with pets and their owners.

Redfin and Rover, a networking platform for pet sitters, recently ranked the top pet-friendly cities. They analyzed data from 14,000 cities based on popularity of dog walkers and pet sitters and how frequently the word “dog” appeared in online listing descriptions of homes for sale. The top pet-friendly cities (along with cities’ most popular breeds) are:

1. Seattle

  • Top breed: Labrador retriever

2. Chicago

  • Top breed: Mixed breed

3. Denver

  • Top breed: Labrador retriever

4. Manhattan, N.Y.

  • Top breed: French bulldog

5. Washington, D.C.

  • Top breed: Mixed breed

6. Portland, Ore.

  • Top breed: Mixed breed

7. Los Angeles

  • Top breed: Chihuahua

8. Brooklyn, N.Y.

  • Top breed: Pit bull mix

9. San Francisco

  • Top breed: Mixed breed

10. San Diego

  • Top breed: Mixed breed

11. Philadelphia

  • Top breed: Pit bull mix

12. Houston

  • Top breed: Mixed breed

 

dog care tips

© National Association of REALTORS®

 

Posted in BoydTeam Blog
April 11, 2019

3 Ways to Profit Off a Vacation Home

3 Ways to Profit Off a Vacation Home

Photo by Pexels

 

Does your beautiful beach house just sit empty when you aren’t using it as a home away from home? That’s not uncommon for many vacation property owners. Wouldn’t it be nice to have your second home pay for itself? Tap into those off hours by opening up your home as a vacation rental and you may find a lucrative way to pay for your property or add some funds for your own vacation dreams.

 

Prepping your home as a vacation rental takes time, thought and a little bit of talent. It can be a lot of fun and a financially appealing strategy for many people who want a more affordable second home. Want a few tips to help you get started? Here are three ways to get your home ready as a vacation rental.

 

Location, Location, Location

Whether you already own a vacation home or are looking to purchase one you can also rent, location is key. You have to be in a place where people want to vacation, from big cities with a vibrant nightlife to seaside towns with beaches and restaurants. The latter is what makes Myrtle Beach a hot spot for vacation rentals. Around 14 million tourists vacation in Myrtle Beach each year; that kind of statistic makes Myrtle Beach an ideal location for a lucrative vacation home. If you are hunting for a new property, do your research to find a location where vacation rentals are in high demand. People want to stay at places where there are things to do for a variety of ages and interests, and are often looking for a balance between convenience and seclusion.

 

Customize the Experience

Listing your home with a vacation rental company like Myrtle Beach Pet Friendly Rentals is one of the easiest and most effective ways to get tourists in the front door. Keep in mind, however, that while it may seem like getting tons of guests is a good idea, a revolving door of renters is not always the best strategy to rely on. You want people to love your vacation home experience so much that they come back year after year. Repeat renters is the kind of guaranteed business that’s not only a good way to keep your home booked, but it’s also a good way to bring in new customers by word of mouth.

 

It’s the small details that will inspire your guests to feel like your home is theirs. Offer a little welcome package, provide coffee and other complimentary drinks, and suggest restaurants and other nearby attractions. When you can, customize the experience. For example, you could put out roses and champagne for couples celebrating an anniversary or provide family-friendly board games for people traveling with kids.

 

Maintenance is Key

 

Part of keeping your vacation property a hot commodity means maintaining it through regular cleanings, home improvement needs, repairs and anything else that comes with regular wear and tear. If you can’t commit to doing most of the work yourself, you’ll need to hire help in the form of a cleaning service or property manager. You’ll also need to take extra special care to stay on top of needs like having your dryer vent cleaned annually, regularly replacing air filters, cleaning out the dishwasher filters and tending to any other system that could break down and affect your guests’ experience.

 

Your Financial Future is Now

Return on investment (ROI) is central to making a profit off your vacation home. In its simplest definition, ROI is how much is left over after you subtract the costs you put in from the costs paid out. In many instances, you might not see a positive ROI right away or even for a few years. This is because there are a lot of upfront costs associated with buying and maintaining a vacation home, like hiring property managers, marketing the home and paying for maintenance and upkeep.

 

Owning a vacation rental can be a solid investment that may even bring in a positive cash flow. But you have to start with the right business strategies. Combining a desired location, customized experiences and financial projection can turn your vacation rental into money maker.

 

 

Posted in BoydTeam Blog
April 10, 2019

Multiple Credit Cards - Good or Bad?

Is It Good to Have Multiple Credit Cards, or Will It Hurt My Credit Score?

Your credit score is an essential component of your overall financial health, so it’s important to make sure you don’t do anything that could damage it. If you always make your debt payments on time and keep your credit card balances low, your score will generally be in good shape.

Having multiple credit cards won’t necessarily hurt your credit score — and, in fact, it can sometimes help. But if you have more cards than you can handle or use them irresponsibly, your score could drop considerably.

How Having Multiple Credit Cards Can Impact Your Credit

To understand how carrying multiple credit cards can affect your credit score, it’s important to know how your score is determined. Your FICO score, for example, is broken down as follows:

  • Payment history: 35%
  • Amounts owed: 30%
  • Length of credit history: 15%
  • Credit mix: 10%
  • New credit: 10%

Now, let’s break down each of those in terms of how using multiple credit cards has the potential to hurt your credit score.

Payment History

Making on-time bill payments is the biggest factor in your credit score. In an ideal scenario, you’d never miss a payment on your credit cards. But it’s unlikely that all of your cards will have the same due date. And if you have more cards than you can manage, you can set yourself up to forget a payment.

But while that’s a danger, there are ways to prevent it from happening. By setting up automatic payments on all of your accounts, for instance, you can ensure that you’ll never miss one.

Even if you do, credit card issuers typically don’t report late payments to the credit bureaus until after you’ve been late for 30 days. So if you miss your due date but remember to pay the next day, it won’t show up on your credit report; the only consequences will be a late payment fee, interest, and possibly an increased penalty APR.

Amounts Owed

This factor is essentially based on your credit utilization, which is your credit card’s balance divided by its credit limit.

The lower your credit utilization ratio on each card and across all your cards, the better. So in this case, having multiple credit cards can actually help your score by increasing your overall credit limit and spreading out your balances across multiple cards.

For example, let’s say you have one credit card with a $3,000 balance and a $5,000 credit limit. Your utilization rate on the card is 60%, which would negatively impact your credit score.

If, however, you have three cards with a $1,000 balance and a $5,000 limit on each, your utilization drops to 20%, which is generally much better for your credit.

  • Related: You Can Improve This Part of Your Credit Score Almost Immediately

Length of Credit History

This factor considers how long you’ve been using credit as well as the average age of your accounts. The more new credit card accounts you open, the lower that average will be.

But while that sounds bad, remember that your length of credit history only makes up 15% of your credit score. And since the average age of your accounts isn’t the only component of your history, the impact may not be very noticeable.

Credit Mix

Lenders typically like to see that you can manage various types of credit. And credit scoring models perceive installment debt — such as a mortgage, student loan, or auto loan — as less risky than revolving credit card balances.

Having more than one credit card account may help improve your credit mix. But according to FICO, this factor isn’t crucial in calculating your score unless there’s very little other information in your credit profile.

New Credit

Every time you apply for a credit card, or any other credit account for that matter, that’s considered new credit, and the lender may run a hard credit check.

According to FICO, each new hard inquiry can knock up to five points off your credit score, but many scores won’t be affected at all. Even if your score does drop slightly, it’s not a permanent drop.

Where this factor could make a difference is if you apply for multiple credit cards in a short period of time. Not only could multiple inquiries have a compounding effect on your credit score, but it could also be a red flag for lenders.

So as long as you space out your credit card applications and use credit responsibly in general, you likely won’t see a compounding effect on your credit score.

  • Related: Hard Inquiries and Soft Pulls on Your Credit Report: What’s the Difference?

How Many Credit Cards Is Too Many?

So is it good to have multiple credit cards? Well, we can safely say it’s not bad. Using more than one credit card for your everyday spending has its benefits: For instance, using cards with different rewards programs can help you maximize how much you earn.

What’s more, some credit cards offer benefits that other cards don’t, and having more than one in your wallet can ensure that you can take advantage of all the benefits you want.

There’s no universal answer to the question of how many credit cards is too many, because everyone is different. If you have good organizational skills and can easily stay on top of your card management, you’ll likely know when one more is too much.

But if the idea of keeping track of more than one or two cards gives you anxiety, it may be better to restrict how many you keep in your wallet. And if you struggle to contain your spending, having no credit cards at all may be the best strategy for you.

If you want help with managing multiple credit cards, here are a few tips:

  • Use budgeting software that allows you to see transactions and balances in one place.
  • Keep a list of your monthly due dates and when annual fees are due, if applicable.
  • Consider waiting until you have an established credit history before you apply for multiple cards.
  • Be honest with yourself about your capacity for card management.
  • Get rewards credit cards that align well with your lifestyle — whether you spend more on travel and dining or groceries and gas — so you can maximize the value you get out of them.

The Bottom Line

Getting multiple credit cards won’t hurt your credit score if you use them responsibly. But the more cards you have to keep track of, the more likely you may be to forget about a payment – so there can be consequences if you have trouble staying organized or with overspending.

As you consider whether it’s a good idea for you, think about why you want to have multiple cards and what your strategy is for managing them responsibly. Because if you do it right, you can take advantage of all the benefits your cards have to offer with very few drawbacks.

 

Posted in BoydTeam Blog
April 10, 2019

The Art of Gardens

The Art of Gardens

Bigger isn’t always better when it comes to outdoor spaces. Small gardens can be jewel boxes that delight the senses without requiring as much maintenance or expense as their larger counterparts.

For years, the most appealing residential backyards featured sprawling plots with multiple “rooms”—separate areas for cooking and dining, growing gardens full of vegetables and flowers, and recreational space for a pool or a children’s play area. But as more homeowners look to lower housing costs and maintenance, they’re paring down on the time and funds going toward landscape upkeep.

small garden rendering

© Laurie Van Zandt, The Ardent Gardener

Between smaller urban backyards and terraces and new homes being built with smaller outdoor footprints, gardens are scaling down proportionately. For example, a homeowner living in a bungalow with a small yard can still enjoy the trickling sounds of water, but it might be a bubbling fountain or spa rather than elaborate outdoor water features or a swimming pool. The same is true for vegetable gardens. Rather than planting large raised beds, one or two metal troughs or ceramic pots filled with a mix of vegetables and herbs still could provide delicious fixings for a homegrown meal.

Landscape designer Laurie Van Zandt, founder of The Ardent Gardener in Huntsville, Utah, finds her clients with smaller yards are just as happy. “Most want to putter [in the yard] but don’t want to be gardeners,” she says. More clients want to sit with a cup of coffee or glass of wine and enjoy their outdoor space than be wedded to the ongoing weeding and maintenance that larger gardens often require.

rooftop garden at night

© Amber Freda Landscape Design

However, gardens shouldn’t be done away with completely. Greenery in small or large doses benefits a home owner’s physical and psychological well-being, and it may also help sell a listing faster and for a better price. In New York, Amber Freda, a landscape designer who founded Amber Freda Garden Design 15 years ago, has seen her business grow steadily. “The amount of finished outdoor gardens rather than raw spaces has increased. They definitely are a selling feature, especially when they have some features such as outlets for electricity, faucets for water, and a gas line for a grill,” she says.

Making the Best Use of Space

To help your clients with small yards or terraces create a garden they love—that will also appeal to future buyers—keep the five senses in mind: sight, sound, smell, taste, and touch. Also consider the area’s climate and the property’s terrain, soil, and amount of sun and shade. Then find out what their budget is, including installation and ongoing maintenance.  

Get inspired with these tips from garden experts, who’ve shared some of their favorite elements that can be mixed and matched.

container veggies

© Michael Glassman

Edibles. Eating healthy has inspired homeowners to grow their own produce, and for some, it adds an element of fun. Though small square footage will necessitate paring down the list of possibilities, some vegetables are propagated specifically for their small size, such as tomatoes, artichokes, and carrots, says Edward Furner, a landscape architect with Mariani Landscape in Lake Bluff, Ill., outside Chicago. Certain fruit trees have also been genetically developed for smaller spaces such as peaches, nectarines, and some citrus.

To both eliminate a lot of kneeling and bending, try using galvanized horse troughs or big pots for planting since they don’t require construction, suggests Sacramento, Calif.-based landscape designer Michael Glassman, co-author with this writer of The Garden Bible (Images Publishing, 2015). Edible flowers could also be considered. To make watering easy, add drip irrigation or soaker hoses.

Fire. A fire feature is among today’s top outdoor requests. For smaller yards, a fire pit, bowl, or element built into a table can provide that romantic glow (and many are portable). Unlike fireplaces, most fire pits don’t require permission from a local municipality, though they may require a certain setback from the house. Van Zandt also suggests inexpensive tiki torches to add to the fire ambiance.

water feature

© Sun Valley Landscaping Omaha, NE, a member of the National Association of Landscape Professionals

Water. While the sound of trickling water delights many, it offers another purpose: to block other noise. These days it’s easy to find a large urn or an attractive container that can be retrofitted with a bubbler to recirculate water, as Van Zandt did for a client who had a rock collection. She stacked them together and drilled a hole so water could trickle out. Furner says he’s receiving more requests from clients for small lap pools.

One type of water feature that has lost appeal is the koi pond, due to heavy maintenance, says Glassman. For drought-ravaged areas—or for homeowners who want to cut water use—Furner suggests faux grass, which has become much more realistic in recent years. Some companies also manufacture lifelike outdoor plants, such as boxwood.

Cooking and eating. For years outdoor kitchens grew larger and larger, with higher-end models incorporating a grill with rotisserie, sink, and refrigerator—even a beer tap, pizza oven, countertops, and storage. But many found the investment overkill with access to their indoor kitchens just steps away.

When helping one client who enjoys cooking and entertaining, landscape architect Jack Carman of Design for Generations in Medford, N.J., transformed the small patio outside her cottage by staining the white concrete tan to cut the glare, then adding a grill, table with umbrella for shade, chairs, planting beds, and low-voltage lights to illuminate a path for safety.

Wildlife-friendly. The right plants will attract hummingbirds, butterflies, bees, moths, flies, beetles, and other pollinators that give back to a garden of any size, says Missy Henriksen, vice president of public affairs at the National Association of Landscape Professionals. “Choose plants that flower at different times of the year, which will vary by region,” she says. Many online guides offer information, including the U.S. Department of Agriculture.

small garden with path, water fountain

© Lifescape Colorado, Denver, CO, a member of the National Association of Landscape Professionals

Soul-nourishing. A small garden can become a spiritual retreat, helping homeowners unwind and destress. Glassman built a raised platform for one client to practice tai chi. A lawn panel can offer the same option with a mat placed atop grass. Hospitals have become a good source of information since many have installed their own gardens to help patients recover and offer a respite place for family members and staff as well. The Mercy Medical Center in Baltimore, Md., has three rooftop gardens, including a water feature in its Mary Catherine Bunting Center.

Privacy. Shielding gardens and outdoor spaces from neighbors has become more of a priority as homeowners gravitate to urban areas and downtown suburbs. One way is to go vertical and plant along a garage, outbuilding, or fence to camouflage or block out neighboring properties. Choose perennials in colder climates to eliminate the need to replant. Glassman prefers to use an iron or wood trellis rather than grow greenery directly on a dwelling because it’s easier to perform maintenance. He favors potato, trumpet, and creeping fig vines that grow densely in his northern California climate. Another option for privacy is to plant shrubs or trees with multiple trunks. Henriksen says succulents have become a popular option. But with any choice, the homeowner should ask how big the plant will grow when it matures so that they leave enough room, Glassman says.

Container gardens are a third alternative. Henriksen recommends that each pot have three types of plants: a “thriller” or tall plant that makes a strong statement in form or color, a “filler” that fills the space and hides the soil, and a “spiller” that weeps over the edge. Master gardener Carole Aine Langrall, owner of The Flower Spy in Santa Fe, N.M., and Baltimore likes to limit the palette to a few hues and textures to give the illusion of more space.

garden shed

© Jim Charlier

Decorative. Whether it’s hardy artwork, whimsical found objects, or wind chimes, decorative elements personalize a space. However, decorative items should be limited so they don’t overcrowd a small garden, Van Zandt says. One striking piece can create a beautiful focal point to direct the eye, says Henriksen.

But paring down isn’t for everyone. Many of the 400 amateur gardeners who open their colorful, quirky, original gardens in Buffalo, N.Y.’s annual Garden Walk Buffalo weekend event each July disregard the simplicity mantra. Graphic designer Jim Charlier, who participates yearly, recently co-authored the book Buffalo-Style Gardens (St. Lynn’s Press, 2019) with garden writer Sally Cunningham. He designed his small garden for eating and entertaining, planted a collection of climbing plants to block neighboring homes, and built a green potting shed that mimics his 1897 green Dutch Colonial-style home to hold tools. The pedigree of a garden featured on the 25-year-old tour—the largest of its type in the country—definitely helps to sell homes, Charlier says.


Up in the Air: Handling Rooftop Gardens

More attention is being paid to using all outdoor areas, including urban rooftops. But working on outdoor spaces that are high up adds additional challenges.

Make sure your clients consult a structural engineer to determine how much furniture, decking, and soil a terrace, balcony, or roof can support and how to transport those items up top. Where an elevator may not be large enough, a crane is required, which increases costs, says landscape architect Marc Nissim, owner of the Harmony Design Group in Westfield, N.J.

rooftop garden

© Amber Freda Landscape Design

Landscape designer Amber Freda, whose eponymous firm is based in New York, helped clients with a garden in that city’s West Village neighborhood where restrictions limited them to 35 pounds per square foot. The building also didn’t have an elevator. Her solution: lightweight potting soil and custom red cedar planters.

Local weather conditions may dictate certain precautions as well. Furniture may need to be bolted down so it doesn’t fly away with strong wind gusts. Flooring needs to be durable to withstand the elements. Nissim likes ipe planks, a dense wood decking material that snaps together and doesn’t require repainting. There’s also less costly porcelain pavers that are hard and durable yet not as heavy as paving stones.

A good irrigation system should be available since water tends to evaporate faster up high versus on the ground. “Look at what grows well on a mountain and that’s often the best solution for a rooftop or high garden,” says Freda.

Posted in BoydTeam Blog
April 8, 2019

Time to Spring Clean

Time for Spring Cleaning!!

 

It’s officially spring again, everybody and their great aunt Erma are abuzz with cleaning and organizing advice. We’re not sheep at HomeKeepr, but we figured it was important to throw our voice into the ether, just in case you needed a different perspective. After all, we’re a little less Good Housekeeping and a little more Family Handyman.

 

The Three Vital Goals of a Spring Cleaning

Before we get into the tips, it’s a good idea to set some goals for your spring cleaning. A lot of people get into trouble because they fail to actually establish what it is that they hope to accomplish with their cleaning efforts. They aren’t going to be able to clean their home top to bottom over the course of the next month, contrary to the claims of some magazine (no, not the Weekly World News).

What ends up happening is that one room gets really clean, the next one is pretty clean, and diminishing returns follow until they give up and take a nap. Establishing goals gives you a way to know you’ve achieved something and those goals can tell you pretty precisely how much further you have to go.

Your vital goals may be slightly different, but odds are that these are in the ballpark:

 

  • Increase the feeling of openness in your home.
  • Make it easier to find things that disappeared last year.
  • Declutter. All. The. Things.
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Before we proceed with these three goals, please understand that nothing in this article is meant as a judgement on you or anyone else. Everybody has their challenges and blind spots. Maybe you’re not very good at organizing, but you’re great at chess. We can’t all be great chess players.

 

Attacking Your Vital Spring Cleaning Goals

Whether you’re going to sort of just jump in the middle of your goals and attack them from all angles or you want a more organized approach, you need a plan of action that works for you. Don’t even start without one. If you have something working well for you, go with it, but if not, we’ve got a short attack plan for each goal above down below.

Keep in mind that some of these lists can be done simultaneously if you really want to be efficient. If not, that’s ok, too. This is your spring cleaning. Own it.

 

Goal: Increasing the Feeling of Openness In Your Home

Increasing the feeling of openness in your home comes down to one thing: light. The more light in your home, the bigger and more open it feels. Achieving this seemingly impossible goal is actually really easy and you can do it without replacing a single window or tearing down walls. See, it’s all about that glass. It’s about the paint on your walls, too, but for the amended spring cleaning, focus on the glass. That includes:

 

  • Windows. Scrub these things like they’ve never been washed. They probably haven’t. Wash the insides and then go outside and wash the outside. Just washing the windows will brighten up your space enough that you may end up stopping at this point.
  •  
  • Mirrors. Those mirrors are bouncing light around the room. Just because your windows are letting more light in doesn’t mean that it’s going to survive long once it hits that dirty mirror. Clean, clean away.
  •  
  • Light fixtures. By light fixtures, we mean those light kits on your ceiling fan, the bulb enclosures on chandeliers and the shades on ceiling huggers. Anything glass, take it down and clean it. Most of these items can go into the dishwasher, but put anything thin or fragile in the top rack. 
  •  
  • Light bulbs. Oh, the lowly lightbulb. How we forget you all the time when doing almost anything. You’re just a magic tube that gives us light… unfortunately, bulbs also get dirty, so grab your Swiffer duster and give all your bulbs a good once-over.
  •  

Goal: Make It Easier to Find Things

This one has a single, simple solution: The Container Store. Or any other sort of place where you can get every kind of organizer you could dream up. The reason homes get cluttered too often is because there’s simply not any kind of proper storage to begin with. Of course you’re going to struggle to find things when those things don’t have a permanent home!

You really don’t even need a list here. It’s all in the organization. Go room by room and take stock of what lays out a lot of the day. Do the kids throw their coats on the couch and wander off? Coat rack by the door should fix that. Does your closet look like it exploded? Check out some of the super impressive closet systems they make these days.

Sure, it’s going to take a little bit of an investment to make this goal manageable, but ultimately you’ll find that it’s worth it when you don’t end up buying three of the same top because you couldn’t find the one you needed the day you were going to give that big presentation.

 

Goal: Declutter

You can and should probably work on this while you’re working on organizing stuff. Decluttering has become a meme, you know what it’s all about. You take all the stuff that you own and then you subject it to your hardest judgement. Will you use that spork set again? Is that pair of duck shoes really necessary in the desert? So many questions and decisions to make.

 

Getting stuck trying to decide what gets to go? Ask these questions:

 

  • Am I using it regularly?
  • When I am using it, do I enjoy using it?
  • Have I effectively replaced this item and simply keep it around for nostalgia?
  • Am I really going to “fit back into these jeans?” Be honest. Cake is delicious.
  • Do I really want to finish this project?
  • Do I have too many of this item? (belts, shoes, microwave bacon cookers)
  • Am I keeping this item out of some sense of guilt? (gifts, mainly)
  •  

Once you’ve done this, grab the boxes and bags. Sort the items you don’t need into “useable and worth donating” and “garbage, only good for trashing.” If any of the trash is recyclable, you know, a third recycle bin is probably warranted

 

Achieve Your Spring Cleaning Goals This Year or Go Down Fighting!

With defined goals and plans in place to tackle each one, spring cleaning should be so much easier this year than it was in the past. Doing some regular cleaning might not be a bad idea, either, but you can always leave the basic stuff like doing the floors and washing the walls to home pros from your HomeKeepr network. People who make it their business to clean and organize your stuff are among the elite ranks of home pros that belong to the community. Just ask your real estate agent for a recommendation and you’ll be well on your way..

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Posted in BoydTeam Blog
April 7, 2019

Feds Warn of Fake Bank

Feds Warn of Fake Bank
Businesses are reportedly receiving letters and faxes from an entity called “First National Bank” that is offering lines of credit and secured or long-term loans. But federal authorities are warning that First National Bank is “not a licensed or chartered bank.”

 

International warning sign

© Martin Diebel/Getty Images

 

The Office of the Comptroller of the Currency sent a notice to banks and other officials across the country Thursday warning that “First National Bank,” which claims to be from Minneapolis, is falsely claiming “to be a financial institution offering business banking services.”

The OCC has released a copy of First National Bank’s correspondence to one company. In the letter, First National Bank informs the business that it has prequalified for a $62,000 loan. The letter also promises to provide funding in as little as three days, as well as $25,000 to $350,000 in revolving credit, with no collateral required.

Authorities say First National Bank is using the fictitious address of 222 S. 9th Street in Minneapolis, as well as phone numbers such as (800) 491-0264 or (855) 414-9437.

The OCC is warning anyone who is contacted by the bank to not respond. For those who have, the OCC is providing a list of federal agencies to report any correspondence with the fictitious bank.

Posted in BoydTeam Blog
April 5, 2019

‘Death Cleaning’ Is Officially a Thing

‘Death Cleaning’ Is Officially a Thing
April 4, 2019

Dictionary.com released a list of new words and phrases added this year, and “death cleaning” was among its newest additions. Death cleaning is defined as “the process of cleaning and decluttering one’s home so as to spare others, especially family members, from the chore of it after one’s death.”

It sounds morbid, but family members who have inherited a home full of belongings following a person’s death know “death cleaning” can be a massive undertaking that can be both heartbreaking and stressful.

“We added this definition to Dictionary.com this year because it’s an interesting term that filled a gap in the English language,” Jane Solomon, linguist-in-residence at Dictionary.com, told MarketWatch. “The U.S. is often seen as a materialistic place, and I think people who are grappling with their amassed possessions crave concepts like death cleaning or the KonMari method as they seek a more minimalistic lifestyle.”

Death cleaning, both the term and practice, was popularized in the U.S. with the release of the English translation of the book “Gentle Art of Swedish Death Cleaning” by Swedish artist Margareta Magnusson, Solomon notes. “Death cleaning” is the literal translation of the Swedish term “döstädning,” which means “to tidy, clean, clean up, clean out.”

Paige Arnof-Fenn says it took her two-and-a-half years after her mom died in 2010 to finish “death cleaning” the home—her mother was a “bit of a pack rat/hoarder,” she says. “It was exhausting,” Arnof-Fenn told MarketWatch, but added that it “also made me start to pare down my own clutter.” Her best advice: Tell everyone to “ask their parents while they are still alive a lot of questions and have them give things to their grandkids directly. It will mean a lot more to them, and you will get the stories of why the things are important.”

Dictionary.com added more than 300 new words and definitions to its website this week. Other additions included “JSYK” (an abbreviation for “just so you know”); JOMO (acronym for “joy of missing out,” which is a feeling of contentment with one’s own pursuits and activities without worrying over the possibility of missing out on what others may be doing); and “tone policing” (“a conversational tactic that dismisses the ideas being communicated when they are perceived to be delivered in an angry, frustrated, sad, fearful, or otherwise emotionally charged manner”).

 

Posted in BoydTeam Blog