What do the new FHA changes mean to you?

Have you heard about the upcoming FHA changes involving mortgage insurance premiums and required FICO scores? These changes could make it more difficult to qualify for a mortgage in the future. They could also cost you $1000 or more if you don't act quickly!

Click here for up-to-date information on these changes and other news regarding new homes.

If you are considering purchasing a new home, talk to your mortgage provider right away about what these changes mean to you.

If it's good enough for a rhino...

Although there are thousands of innovative products and fancy new dream home ideas at the International Builders Show 2010, my favorite thing so far has involved a Black Rhino named Ricko. If you are planning on building a new home or remodeling, I'd check Ricko out.

I guess I should explain a bit more. Mohawk launched an experiment involving their SmartStrand carpet. For 14 days Ricko the Rhino lived in a special new space outfitted with SmartStrand carpet. Check out the challenge page to see Ricko play, eat, stomp and yes, poop, all over the carpet.

I saw a piece of the carpet first hand and it looked pretty scary. The dirt and grime looked much worse than anything my two-year old could create. However, there was an adjacent part of the sample showing the carpet after it was cleaned with water. It looked brand new!

I'm not in any way paid my Mohawk, but I am so glad that I recently put SmartStrand carpet in my new home and glad we offer this awesome product to our new home buyers at McArthur Homes.

Maintenance Must-Dos for New Homeowners

Here are some great tips from Realtor.com to keep your new home in great condition.

Our maintenance checklist was compiled with the help of Lou Manfredini, Ace Hardware’s home improvement spokesperson and star of the “Mr. Fix-It” show on Chicago’s WGN-AM radio, and Frank Lesh, president of the American Society of Home Inspectors and head of his own home inspection company, Home Sweet Home Inspection Co., in Indian Head Park, Ill.

• Change your furnace filters monthly. “It’s so easy to do but so critical,” says Lesh. Clogged filters decrease furnace efficiency and can cause breakdowns.

• Drain your water heater at least once a year. Sediment will drain out along with the water from the water tank. Removing sediment can prolong the heater’s useful life.

• Clean the coils. If you have baseboard heating units that use hot water, clear dust from the coils inside the units to maximize heating efficiency. Clean dust whenever you see it accumulating. If you have a hot water boiler/furnace, you should also oil the pump inside the furnace twice a year, says Lesh. Look for the three spots on the pump designated for oiling.

• Check your circuits. Test the performance of the circuit breakers in your electrical circuit box twice a year by flipping them off and back on. If you have a circuit that keeps shutting off with normal daily electrical use, call an electrician. A faulty circuit breaker could indicate a short in the wiring inside your walls.

• Watch out for drips. Check under sinks periodically to look for leaks or water stains that might indicate leaks. Catching a small problem early can prevent water damage. Use a plunger to clean out sinks and tubs whenever water doesn’t drain normally.

• Be aware of life spans. Water heaters, furnaces, roofs, and other key components of your home should be replaced before they fail, based on their average useful lives. Here’s a general ballpark of the life span for key components:
• • Exterior house paint: 5-10 years
  • Furnace: 15-50 years
  • Roof: 13-15 years
  • Water heater: 7-15 years
  • Wood deck staining: 4-7 years

• Keep the wet out. Water is a major enemy of your house. Check each season for signs of water damage to your home. Flashing, the metal pieces used to seal the areas between roofs and chimneys and around doors and windows, are especially vulnerable to damage by wind or age. Loose flashing can let water seep under a roof or inside walls, which in turn can cause mold.

• Get to the bottom of things. Check your home’s foundation for cracks or gaps that could let in water or varmints. Also look at the ground around your house. As homes age, they often sink slightly below the surrounding ground. This settling lets water puddle against the foundation and possibly damage it, notes Manfredini. Doing major landscaping work also can cause changes to the ground’s pitch that let water flow toward the house.

• Look up. Chimneys take a great deal of weather abuse. Visually inspect them each year for signs of loose mortar or loose or missing bricks. Have the insides of chimneys cleaned every two to three years. Also check your roof for loose shingles or dangling gutters.

For more trouble shooting tips check out McArthur Homes Warranty Information.