Gary Pierpont Blog

It is always beneficial to make an effort to save money on your electricity bill without spending large up-front costs. Experts have compiled a list of simple, inexpensive methods to help lower your electricity bill: Make sure your house is sealed- sealing any cracks or spaces can help reduce energy costs by approximately 15-30%. Use stoves, dryers and dishwashers at night when temperatures outside are cooler, keeping the AC from working double time in the day in order to keep your house cool. Wash clothes in cold water and dry them in the open air if weather permits. Use fans to help keep the air circulated and your house feeling cooler. Replace your air filters every month to ensure your AC unit is not constantly running due to air restriction through filters. More here

According to the latest Census Bureau report, the number of homeowners age 50 and up has increased over the last 10 years, and is expected to continue growing as the economy strengthens. The report shows that from 1998-2001 47% of older Americans, age 50 and above, have mortgages. That number has increased 10% from the years 2001-2007. Many homeowners age 65 and older used equity from their homes by getting a reverse mortgage or an equity line to aid in remaining in their homes during the recession. More here

Fire safety officials are warning homeowners to be cautious while using fireworks around their homes and cars this 4th of July. According to the National Fire Protection Association, fireworks caused 17,800 reported fires in the U.S. in 2011. Of those 17,800 fires, 1,200 were structural. Officials advise keeping young children away from all types of fireworks and scanning your area to be sure your location is safe. They also warn against consuming alcohol while using fireworks to ensure the safety of yourself and your property. More here

Keeping a pool clean and maintained does not have to be an overwhelming task. If you do weekly, monthly, and yearly maintenance, taking care of your pool should not be exhausting. A few tips experts have given to maintain your pool are: Clean out your filter daily to ensure it is working efficiently, and skim the surface of your pool to reduce the amount of work on your filter. Brush and vacuum your pool at least once each week to keep the bottom and water clean; this will decrease the amount of chemicals needed and reduce costs. Check and maintain water levels and pH levels regularly, low water levels can increase the risk of a tear in the liner, and the pH level will let you know if your water is safe for swimming. More here

According to CoreLogic’s most recent home price index, home prices jumped last month, increasing 8.8% from May 2013, making it the 27th week the U.S. has experienced year-over-year home price increases. Although prices have grown, experts expect prices to moderate as inventory and demand remain below average. The president and CEO of CoreLogic, Anand Nallathambi said, “while the rapid rise in prices over the past two years has lifted many homeowners out of negative equity, it has also become a negative factor in buying decisions for prospective purchasers weighing affordability concerns. As we move ahead, a moderation in home price increases over the next twelve months should help cool things down a bit and keep the housing recovery going.” More here

According to the most recent Freddie Mac Primary Mortgage Market Survey, U.S. mortgage rates have decreased lower than rates in 2013. The 30-year fixed-rate mortgage averaged approximately 4.14% last week, down .03% from the previous week and .32% from last year. The 15-year fixed-rate mortgage averaged 3.22%, down .28% from last year. Additionally the 5-year treasury-indexed hybrid adjustable-rate mortgage fell from 3.08% last year to 2.98% and the 1-year Treasury-indexed ARM decreased from 2.66% last year to 2.40%. More here

As the summer months progress, heating a home is the last thing on most minds, but it may be a good idea to start chimney maintenance now in order to get the most effective heat from your wood-burning fireplace during the winter. A few tips that will help you maintain a clean, high-functioning, and safe wood-burning fireplace and chimney are: Professionally clean your fireplace and chimney to decrease creosote build up, inspect the chimney cap and repair if broken- this will keep out unwanted animals, debris and rain. Experts also advise installing a stainless-steel chimney liner and fireproof glass doors for extra safety. More here

There are many things to consider for before buying a first home or moving into a new home. Experts have compiled a few tips that can help you be better prepared when buying a home: Take the time to mend or maintain your credit score, which largely determines the loan amount you qualify for. Order a free credit report and then start working on ways to improve or maintain a good score. Work on decreasing credit card debt and paying down previous loans to help you look more reliable to lenders. Also, decide what kind of house you are looking for in advance, identify the features you can and cannot live without. Set a budget and stick with it and then start saving towards your budget goal. More here

According to the Black Knight Financial Services Foreclosure Report, foreclosure rates in the United States decreased last month. The foreclosure inventory rate dropped below 2%, the lowest rate seen since mid 2008. Mortgages currently in foreclosure are down 37% year-over-year, and have gradually decreased by more than half a million when compared to May 2013. Although rates have fallen, some cities are still experiencing high foreclosure rates. More here

Having a deck can make your home much more enjoyable during warm months, but you must take proper care to ensure its safety, value, and to keep it looking well maintained. A few tips experts have provided to help you preserve your deck are: Wash your deck with appropriate cleaning supplies every year around mid-to-late spring to avoid mold and mildew. After you have thoroughly washed your deck and made sure it is dry, seal it. Replace any imperfections such as faulty nails or loose boards. Experts also recommend trimming any bushes or trees that may be close to the deck so the production of mold and moss will be terminated. More here