5 Resolutions for Smart Homeowners in 2008

It's officially 2008, and you know what thatin the southeast, south, southwest or western
means. It means we'll probably mess up a bunchstates.
of checks by writing 2007 until we remember it'sLow rainfall totals predicted in 2008 could mean
2008, right? Did 2007 go fast or what? I'm stillwater rationing in many states and higher water
wondering what happened to November.cost. Planting drought resistant landscaping is
The new year also means planning, as the sayingquickly growing in popularity in many of these
goes those who fail to plan - are planning to fail.states as homeowners prepare for higher water
That saying is especially true if you're acosts.
homeowner in 2008. With new housing and4. Learn and Do Routine Maintenance.
banking laws, rules and policies changing by thePrevention is the best cure. This is an old saying
month, or even day - the best time to create athat still rings true today, especially if you're a
plan is sooner rather than later.homeowner in 2008. Despite a construction
Here are 5 resolutions every smart homeownerslowdown in most areas of the country.
should make and work to keep in 2008.Building cost and building supplies continue to
1. Find Fixed Rate Loanskyrocket in cost. Therefore, when something
With the mortgage loan meltdown because of thebreaks down or you need something repaired
sub-prime lending mess, fixed rate loans is thearound your home it will cost more in 2008 than it
best deal in town - if you want to stay safe.did in 2007.
Knowing what future payments you'll have has it'sSo, the best way to avoid unexpected repairs
advantages. Are you in an adjustable rate,(the worst kind to have) is by paying attention to
interest only or worse an option ARM mortgage?routine maintenance around your home.
Then this is the best time to look for a good5. Improve and Preserve a Good FICO Score.
fixed rate loan, especially if you've made yourThis may seem like an odd subject to place in a
payments on time.newsletter about home management. But having
Many lenders of fixed rate mortgages will bea good FICO score will play an even larger role in
happy to speak to you. But make sure you shopyour ability to manage your home as well as your
smart. Believe it or not even in this turbulent realother finances.
estate market, you're in the drivers seat.Did you know all your creditors, including your
The only way lenders make money is by loaningauto and home insurance companies plus your
money to borrowers who pay on time - if that'sutility companies check your FICO score each
you ... make them earn your business.month? Did you know your credit card company
2. Invest in Making Your Home More Energycan raise your interest rate if you're late on your
Efficient.mortgage payment or car loan?
Depending on what happens in the middle east,If you ever have to refinance for a home
Venezuela, Nigeria and other unstable oil producingimprovement or repair your FICO score will be
countries, take heed.one of the first items they look at. So, keeping
With the price of heating oil expected to goyour FICO score healthy is of primary importance.
above $100 in 2008 your heating cost could go upIf your FICO score needs work start doing what
10% or more this year.you have to do to build it back up as soon as
Although the tax credits on home improvementspossible.
expired December 31, 2007 - It's still smart toWith the new challenges for 2008 looking at us,
invest in making your home more energyit's to your advantage to do as many of these 5
efficient.actions as you can. They will help start your new
The theme for 2008 is conserve, save and avoidyear on the right footing for a prosperous year
waste. The cost of energy will rise this year, andof homeownership.
of course as always the cost will pass on to us.As always, with rapid changes predicted for the
So, whatever you can do to make your homehousing market, the most informed will survive
more energy efficient will give you an immediateand thrive and the least informed suffer the
savings.most. I'll do my best to keep you informed,
3. Plant More Drought Resistant Landscaping.alerted and aware.
Another focus smart homeowners will have isMay this new year bring you and your family new
finding ways to save water, especially if you liveopportunities, new joys and new blessings.