Hiking Trails in San Carlos - Eaton Park

I love that there are amazing trails within walking distance of my home in San Carlos.  My favorite is Eaton Park.  The Kiwanis has recently adopted the park and put in new trails and trail maps.  There is now a wonderful loop that you can take from the Eaton Avenue entrance.

We have a dog who also loves to walk and Eaton Park allows dogs on leashes on the trail. They even provide baggies at the entrance so that you can conveniently collect any "gifts" your pet may leave on the trail.  If everyone follows the rules - it works out great!

It's a wonderful hike that will take you to the top of the hill to an amazing vista and even over wooden bridges and tree shaded areas.  If you have not tried it yet, I would strongly recommend it.

Happy trails to you!

http://www.cityofsancarlos.org/depts/pr/prksfac/park_information/eaton_park.asp

Kelly Clarke
The Clarke Team
Realtor

Monthly Home Maintenance - September

September is the month to check your seals around the house.

• Check the weather stripping around your windows and doors and
make any necessary repairs in preparation for the winter months.

• Make sure your refrigerator door seal is tight.

• Caulk any drafts in your basement, such as around your dryer vent.

• Make sure your roof is in good condition and not missing any
shingles, tiles or slates.

How to Calculate Payments for a First-Time Home Buyer

Since a home is likely the single largest and most important purchase the first-time home buyer will make, he should seek an affordable monthly payment. Begin with evaluating monthly income and expenses to determine how much he can comfortably afford. He must also consider additional expenses associated with homeownership, such as homeowner's insurance, property taxes and, in some cases, private mortgage insurance.

http://homeguides.sfgate.com/calculate-payments-first-time-home-buyer-2930.html
 

How to Repair Stucco Leaks

by Carson Barrett, Demand Media

Many people find the texture of a stucco wall attractive.

Stucco is a durable, attractive finish used for the exterior walls of homes and other buildings. As with all exterior wall surfaces, the integrity of stucco must be intact in order to prevent leaks. When cracks occur in the stucco and water leaks in, it can reach the sheathing of the house, which can cause rot. You can patch small cracks and holes in the stucco yourself, but if they're larger than 1/2 inch wide or are vertical cracks around windows and doors, call in a professional to examine them, as it can be a sign of problems with your home's foundation.

Patching Cracks in the Stucco

1.

Clean the crack to remove any loose debris with a flathead screwdriver and a toothbrush.

2.

Squeeze caulk into a paper cup and stir some clean sand into the caulk to give it a rougher texture. Use acrylic-latex caulk if the crack is 3/8 inch wide or less, or a stucco-repair caulk if the crack is 1/2 inch wide or less.

3.

Fill the crack with a putty knife and allow it to cure for the time specified on the packaging.

4.

Apply an exterior-grade latex paint over the patch that blends in with the rest of the wall.

Patching Holes in the Stucco

1.

Clean loose stucco from the hole by chipping away at it with a cold chisel and hammer.

2.

Vacuum the dust out of the hole. Examine the wire mesh inside the hole; if it's damaged, staple new mesh over the damaged section.

3.

Mix a small batch of brown stucco for the base coat, following the manufacturer's instructions. Apply the stucco to the hole with a trowel. Allow the stucco to firm up, then scratch the surface with a nail. Allow the stucco to cure for two days. Use enough stucco to reach a depth about 1/4 inch beneath the surface of the wall.

4.

Spray the hole and the stucco that surrounds it to dampen it. Apply another coat of brown stucco to the hole. Smooth the surface of the stucco, and allow it to cure for two days. This layer is 1/8 inch deep.

5.

Spray the hole and the surrounding stucco with water to get it damp. Apply the top coat of stucco over the hole, smoothing the surface so that it's even with the surrounding stucco. Texture the surface of the stucco with the trowel to match the surrounding stucco. Allow the top coat to cure for four days, and paint the patch with an exterior-grade latex paint, if needed.

Short of funds for a down payment and have good credit? Consider an 80/20 Loan.

80/20 loans are not as complicated as people may think. Many lenders will only finance 80% of the home purchase price, which leaves 20% for the borrowers to come up with. While having a down payment is ideal, some borrowers do not have enough of a down payment to cover 20%, and some may not have a down payment at all. In this scenario, a second loan for 20% of the home value can be taken out, as a home equity or piggyback loan. This is the best way to get 100% financing because neither the 80 or the 20 loan will require a down payment, since they are both incomplete loans.

How They Work

The first loan is for 80% of the purchase price. The second loan, for 20% of the purchase price, works as a revolving line of credit for 15 years and then must be paid in full over the course of the last 10 years of the loan term. The first loan prevents the borrowers from having to take out a private mortgage insurance (PMI) policy, which helps them save money. PMI is usually required when any mortgage covers more than 80% of the home value, because it is a risk for the bank. The insurance works to protect the bank, but since the cost is passed on to the borrower, it makes it harder for the borrower to handle.

When a borrower cannot come up with 20% down, an 80/20 loan is usually the best route to go, because it is less expensive than having to carry PMI. The 20% loan will generally carry a higher interest rate than the first trust deed loan, so it is important to carefully manage finances.

Qualifying for an 80/20 Loan

Generally, only those with a good credit standing, a score of at least 700, can qualify for 80/20 loans. Because there is no down payment involved, 100% financing is a very large risk for most lenders, so they will only trust borrowers who have shown they have the ability to pay their debts. In addition to a good credit history, applicants should have a stable employment history, a decent amount of money in savings, a stable history of residency, and a low debt-to-income ratio (DTI). The debt-to-income ratio should be 45% or less if possible. The better the employment, residency and DTI are, the lower the interest rates on the loans will be.

Due to the recent housing industry crisis, these loans are only extended to the most worthy borrowers, and are not offered by all lenders. If you are interested in getting 100% financing through an 80/20 loan, look at your credit report before you begin talking to various lenders to find a program that works for you. Depending on the situation, you may be better off waiting for a few more months to improve your credit and pay down some debt.

Contact me with questions or for a referral to lenders who offer these loans.

Free Shredding and Goodwill Event - September 14th, San Carlos

When: Saturday, September 14th, 9:00 am to 1:00 pm
Where: North East Dirt Lot at Holly Street & El Camino Real, San Carlos

Bring your personal documents and confidential materials for safe & secure destruction for Free!  Limit 3 boxes (10" x 12" x 15").  Be prepared to show proof of San Carlos residency.

Donations of Clothing, Shoes, Computers, Electronics, Small Appliances and Housewares will be accepted by Goodwill at this event.  Bring the Goodwill Donation Form from the Goodwill web site and it will be signed by Goodwill for tax deduction purposes at the event.