Friday, December 28, 2012
Thursday, December 27, 2012
Monday, December 17, 2012
New Home To-Do List
New Home To-Do List
Congratulations, you have found the home of your dreams, but now what? Now is when the real work, planning, and fun begins. This is an exciting new chapter in life, full of great experiences. Take a few minutes now to create a to-do list and plan projects before moving day arrives! You will be glad you did.
Plan & Prepare:
•Hook yourself up – About a month ahead of the move, contact your current water, electric, cable, and phone companies. This will give you plenty of time to schedule cancellations and not incur any unnecessary charges. Also contact your new providers to schedule “turn-on dates”. Nothing would be worse than trying to move and settle in without water or electric!
•Update Insurance – Notify your homeowner’s insurance company of the change in your residence. If moving to another state, chances are you will have to get a new policy and maybe even a new company, depending on your current insurance company’s coverage.
•Go Postal – Recommendations are to file a change of address request with the USPS approximately 6-weeks before you move. You can stop by your local post office or complete it online at http://www.Usps.com. At the same time, it’s a good idea to remove your name from junk catalog lists (www.catalogchoice.org). Eliminate the extra clutter!
•Medical Records – If you are moving out of the area, it will be much easier to get a copy of your records now rather than later. You may need them to establish yourself as a new patient with another doctor.
•Local News – Sign up for the local newspaper in your new community. What a wonderful way to get to know the local shops, restaurants, and organizations; plus find out about upcoming events!
Pre-move Projects:
In addition to paperwork, utility switches, and other aspects of moving, now is a great time to consider home renovation projects. Many of them will be much easier to do before all of your belongings arrive!
•Replace flooring – This can seem a bit daunting now, but will be so much easier for all involved if you can do this project while the space is empty.
•Painting – Even if you can’t decide on new colors for every room, completing this in just one or two rooms is a great accomplishment. And again, it’s much simpler when you don’t have to crawl over furniture!
•Closet systems – Closet systems installed ahead of time will allow for easy unpacking; items can go from boxes right into drawers and on shelves.
•Electrical upgrades – If you’re moving into an older home and this is on the to-do list keep in mind that electricians are paid by the hour; get them in and out as quick as possible!
•Garage Storage – Have sturdy storage shelves to move? Have them loaded last, so you can get to them first. This will give you an immediate space for those “stored” items and will keep floor space open for other things.
Using the tips and hints here, you’ll find that all of this can be a pleasant experience.
Happy Moving!!
40.039308 -76.387418
Congratulations, you have found the home of your dreams, but now what? Now is when the real work, planning, and fun begins. This is an exciting new chapter in life, full of great experiences. Take a few minutes now to create a to-do list and plan projects before moving day arrives! You will be glad you did.
Plan & Prepare:
•Hook yourself up – About a month ahead of the move, contact your current water, electric, cable, and phone companies. This will give you plenty of time to schedule cancellations and not incur any unnecessary charges. Also contact your new providers to schedule “turn-on dates”. Nothing would be worse than trying to move and settle in without water or electric!
•Update Insurance – Notify your homeowner’s insurance company of the change in your residence. If moving to another state, chances are you will have to get a new policy and maybe even a new company, depending on your current insurance company’s coverage.
•Go Postal – Recommendations are to file a change of address request with the USPS approximately 6-weeks before you move. You can stop by your local post office or complete it online at http://www.Usps.com. At the same time, it’s a good idea to remove your name from junk catalog lists (www.catalogchoice.org). Eliminate the extra clutter!
•Medical Records – If you are moving out of the area, it will be much easier to get a copy of your records now rather than later. You may need them to establish yourself as a new patient with another doctor.
•Local News – Sign up for the local newspaper in your new community. What a wonderful way to get to know the local shops, restaurants, and organizations; plus find out about upcoming events!
Pre-move Projects:
In addition to paperwork, utility switches, and other aspects of moving, now is a great time to consider home renovation projects. Many of them will be much easier to do before all of your belongings arrive!
•Replace flooring – This can seem a bit daunting now, but will be so much easier for all involved if you can do this project while the space is empty.
•Painting – Even if you can’t decide on new colors for every room, completing this in just one or two rooms is a great accomplishment. And again, it’s much simpler when you don’t have to crawl over furniture!
•Closet systems – Closet systems installed ahead of time will allow for easy unpacking; items can go from boxes right into drawers and on shelves.
•Electrical upgrades – If you’re moving into an older home and this is on the to-do list keep in mind that electricians are paid by the hour; get them in and out as quick as possible!
•Garage Storage – Have sturdy storage shelves to move? Have them loaded last, so you can get to them first. This will give you an immediate space for those “stored” items and will keep floor space open for other things.
Using the tips and hints here, you’ll find that all of this can be a pleasant experience.
Happy Moving!!
40.039308 -76.387418
Friday, December 14, 2012
Wednesday, December 12, 2012
Tuesday, December 11, 2012
Monday, December 10, 2012
The Fair Credit Reportin Act and Landlords
So you've decided to be a real estate inveator and become a landlord.
Are you complying with the Fair Credit Reporting Act?
Monday, December 10, 2012
By Douglas K. Marsico, Esq.
Prudent property managers screen potential tenants by making use of a rental application and obtaining a credit report. Most property managers are aware that Fair Housing Laws require that a refusal to deny rent must be based upon nondiscriminatory reasons.
A poor credit score is certainly a legitimate reason, however, if a credit score is the reason for an adverse decision to rent, the property manager must be aware of further obligations under the law.
Under the Fair Credit Reporting Act, a property manager or landlord must provide a written or electronic notification to the potential tenant whenever a refusal to rent is based upon a credit score. An “adverse action” based upon a credit score is broader than just a refusal to rent. It also includes:
•Requiring a co-signer or guarantor on the lease
•Requiring a deposit which might not be required from any other applicant
•Requiring a bigger deposit as compared to another tenant
•Raising the rent to a greater amount
Amendments in 2011 to the Fair Credit Reporting Act require that all of the following information must be in the disclosure when the adverse action was based on or in part of a credit score:
•The numerical credit score;
•The range of possible credit scores under the model used;
•All of the key factors that adversely affected the credit score of the consumer in the model used, the total number of which shall not exceed four (4);
•The date on which the credit score was created; and
•The name of the person or entity that provided the credit score or credit file upon which the credit score was created.
The credit score disclosure requirements are not applicable when a landlord’s adverse decision is based on information in an applicant’s consumer report other than the credit score. In such cases, the landlord must notify the prospective tenant that the adverse decision was based upon a credit report and:
•Provide the prospective tenant with the name, address and telephone number of the consumer reporting agency that provided the credit report;
•Inform the prospective tenant that the reporting agency did not make the adverse decision, nor can it provide reasons as to why the adverse action was taken;
•Provide the prospective tenant with notice of his/her rights to obtain a copy of the credit report, and to dispute with the consumer reporting agency any inaccuracies in the investigative report.
Violations of the Fair Credit Act can lead to civil penalties against the landlord and/or property manager. These may include actual damages or nominal damages of up to one thousand dollars if no actual damages exist. In the case of willful noncompliance, attorney fees and punitive damages may be imposed.
About Douglas K. Marsico, Esq.:
Mr. Marsico is an attorney with Caldwell & Kearns which serves as general counsel to PAR. A portion of his practice is dedicated to providing advice and counsel to real estate licensees and representing and defending real estate salespersons and brokers in civil lawsuits and licensing claims across the Commonwealth. He routinely counsels employers on employee relations issues as one of the voices of the PAR Legal Hotline.
Are you complying with the Fair Credit Reporting Act?
Monday, December 10, 2012
By Douglas K. Marsico, Esq.
Prudent property managers screen potential tenants by making use of a rental application and obtaining a credit report. Most property managers are aware that Fair Housing Laws require that a refusal to deny rent must be based upon nondiscriminatory reasons.
A poor credit score is certainly a legitimate reason, however, if a credit score is the reason for an adverse decision to rent, the property manager must be aware of further obligations under the law.
Under the Fair Credit Reporting Act, a property manager or landlord must provide a written or electronic notification to the potential tenant whenever a refusal to rent is based upon a credit score. An “adverse action” based upon a credit score is broader than just a refusal to rent. It also includes:
•Requiring a co-signer or guarantor on the lease
•Requiring a deposit which might not be required from any other applicant
•Requiring a bigger deposit as compared to another tenant
•Raising the rent to a greater amount
Amendments in 2011 to the Fair Credit Reporting Act require that all of the following information must be in the disclosure when the adverse action was based on or in part of a credit score:
•The numerical credit score;
•The range of possible credit scores under the model used;
•All of the key factors that adversely affected the credit score of the consumer in the model used, the total number of which shall not exceed four (4);
•The date on which the credit score was created; and
•The name of the person or entity that provided the credit score or credit file upon which the credit score was created.
The credit score disclosure requirements are not applicable when a landlord’s adverse decision is based on information in an applicant’s consumer report other than the credit score. In such cases, the landlord must notify the prospective tenant that the adverse decision was based upon a credit report and:
•Provide the prospective tenant with the name, address and telephone number of the consumer reporting agency that provided the credit report;
•Inform the prospective tenant that the reporting agency did not make the adverse decision, nor can it provide reasons as to why the adverse action was taken;
•Provide the prospective tenant with notice of his/her rights to obtain a copy of the credit report, and to dispute with the consumer reporting agency any inaccuracies in the investigative report.
Violations of the Fair Credit Act can lead to civil penalties against the landlord and/or property manager. These may include actual damages or nominal damages of up to one thousand dollars if no actual damages exist. In the case of willful noncompliance, attorney fees and punitive damages may be imposed.
About Douglas K. Marsico, Esq.:
Mr. Marsico is an attorney with Caldwell & Kearns which serves as general counsel to PAR. A portion of his practice is dedicated to providing advice and counsel to real estate licensees and representing and defending real estate salespersons and brokers in civil lawsuits and licensing claims across the Commonwealth. He routinely counsels employers on employee relations issues as one of the voices of the PAR Legal Hotline.
Tuesday, November 20, 2012
Home for the Holidays
Here are some tips on how to get your home ready for the holidays so your guests will feel welcomed and comfortable
1.Create Space for Guests- Move family’s luggage to a spare bedroom, clear out your coat closet, and have an umbrella stand handy if it is raining. This will provide them with a welcoming space for their belongings.
2.Freshen up the Bathroom- Once the bathroom has had its usual cleaning, set out guest hand towels and a new bottle of hand soap.
3.A Warm Glow- Light some candles but be sure to keep an eye on them if they are in places such as a bathroom or hallway.
4.Entryway Impression– Sweep your steps and front porch area to eliminate leaves, cobwebs, and dirt. Shake out your doormat and remove any clutter. Replace any outside lights that burnt-out. Keep in mind, your entryway is really your home’s first impression.
5.Quick Decorations- Make a centerpiece out of a wooden platter and some small white pumpkins or a vase full of fall branches. Use fall colored placemats to spruce up your table.
Most of all enjoy spending time with your family and friends! Have a wonderful Holiday!
Monday, November 19, 2012
Safety tips for Deep Frying Your Holiday Turkey
SAFETY Tips for Deep Frying your Holiday Turkey (w/ Video)
Each year more than 45 million turkeys are prepared for Thanksgiving holiday feasts. And each year fire fighters are called to at least 1,000 major fires and explosions due to DEEP FRYING TURKEY accidents!! These fires have caused more than $15 MILLION in property damage!
Deep frying a turkey is a cooking fad that took off about 10 years ago; many claim it is the best way to prepare a delicious, juicy turkey. However it is also the MOST dangerous cooking method. People have been known to set themselves and their homes on fire. More cooking fires occur on Thanksgiving than any other day. It is an easy time to get distracted and it only takes seconds for a fire to get out of control.
We urge you to keep these tips in mind to help PROTECT your FAMILY and HOME!
Read directions – Take some time before the big day to read ALL instructions on your deep fryer; be fully informed. Make sure you buy a thermostat if your fryer does not have one.
Stability – Fryers can easily tip over. Place your fryer on a flat stable surface, FAR from your home! Do NOT cook your turkey in your garage or on a wooden deck.
Don’t overheat the oil – Always use an accurate thermometer. If the oil overheats it could combust. Best oils to use are peanut, canola, or safflower oil.
Measure – DON’T guess how much oil your fryer will hold (most will hold 5 gallons). Best method is to place your turkey in the empty fryer (turned off!), fill it with water, and then remove the turkey. This will show you how much oil your fryer will hold WITH your turkey in it! Too much oil will overflow and cause a fire.
DRY YOUR TURKEY – This is one of the biggest causes of fryer fires. Why does the fire start and react so violently? Water left on your turkey boils when it hits the hot oil causing steam. Steam expands at a volume 1,700 times greater than water volume. The expanding steam pushes the oil out of the fryer, down the pot and onto the burner assembly where the oil will burst into flames! Be certain your turkey is completely THAWED and as DRY as possible! Dry the cavity of the turkey as well and never stuff a turkey that you will be deep-frying!
Shut off the gas – Always turn off the gas while you lower your turkey into the pot (and when you remove it). Once your turkey is in the pot, you can turn the gas back on. This will help prevent a fire if the oil spills over the sides of the pot.
Don’t get burned – Wear heavy leather gloves. The pot, lid and handles on the fryer will get extremely hot. A typical kitchen hot pad will NOT protect your hands from the high heat of the fryer. The pot and oil will remain hot for several hours after cooking; keep children and pets away from the fryer until cooled.
Go Slow – Lowering your turkey slowly will help prevent from boiling over. It will allow any small amounts of moisture to cook off gradually, as opposed to putting it all in at once.
Stay focused – NEVER leave your turkey fryer unattended, even when pre-heating! Constant adult supervision is highly recommended!
Check out the video:
http://www.youtube.com/watch?feature=player_embedded&v=hQYTMFCLy5E
Safety videos such as this one have been released to illustrate the dangers of this cooking trend; reducing property damage claims in the past year. PLEASE pay attention to the cooking directions closely this holiday; don’t let your family and home become one of the horrifying statistics.
HAVE A HAPPY AND SAFE THANKSGIVING HOLIDAY
Each year more than 45 million turkeys are prepared for Thanksgiving holiday feasts. And each year fire fighters are called to at least 1,000 major fires and explosions due to DEEP FRYING TURKEY accidents!! These fires have caused more than $15 MILLION in property damage!
Deep frying a turkey is a cooking fad that took off about 10 years ago; many claim it is the best way to prepare a delicious, juicy turkey. However it is also the MOST dangerous cooking method. People have been known to set themselves and their homes on fire. More cooking fires occur on Thanksgiving than any other day. It is an easy time to get distracted and it only takes seconds for a fire to get out of control.
We urge you to keep these tips in mind to help PROTECT your FAMILY and HOME!
Read directions – Take some time before the big day to read ALL instructions on your deep fryer; be fully informed. Make sure you buy a thermostat if your fryer does not have one.
Stability – Fryers can easily tip over. Place your fryer on a flat stable surface, FAR from your home! Do NOT cook your turkey in your garage or on a wooden deck.
Don’t overheat the oil – Always use an accurate thermometer. If the oil overheats it could combust. Best oils to use are peanut, canola, or safflower oil.
Measure – DON’T guess how much oil your fryer will hold (most will hold 5 gallons). Best method is to place your turkey in the empty fryer (turned off!), fill it with water, and then remove the turkey. This will show you how much oil your fryer will hold WITH your turkey in it! Too much oil will overflow and cause a fire.
DRY YOUR TURKEY – This is one of the biggest causes of fryer fires. Why does the fire start and react so violently? Water left on your turkey boils when it hits the hot oil causing steam. Steam expands at a volume 1,700 times greater than water volume. The expanding steam pushes the oil out of the fryer, down the pot and onto the burner assembly where the oil will burst into flames! Be certain your turkey is completely THAWED and as DRY as possible! Dry the cavity of the turkey as well and never stuff a turkey that you will be deep-frying!
Shut off the gas – Always turn off the gas while you lower your turkey into the pot (and when you remove it). Once your turkey is in the pot, you can turn the gas back on. This will help prevent a fire if the oil spills over the sides of the pot.
Don’t get burned – Wear heavy leather gloves. The pot, lid and handles on the fryer will get extremely hot. A typical kitchen hot pad will NOT protect your hands from the high heat of the fryer. The pot and oil will remain hot for several hours after cooking; keep children and pets away from the fryer until cooled.
Go Slow – Lowering your turkey slowly will help prevent from boiling over. It will allow any small amounts of moisture to cook off gradually, as opposed to putting it all in at once.
Stay focused – NEVER leave your turkey fryer unattended, even when pre-heating! Constant adult supervision is highly recommended!
Check out the video:
http://www.youtube.com/watch?feature=player_embedded&v=hQYTMFCLy5E
Safety videos such as this one have been released to illustrate the dangers of this cooking trend; reducing property damage claims in the past year. PLEASE pay attention to the cooking directions closely this holiday; don’t let your family and home become one of the horrifying statistics.
HAVE A HAPPY AND SAFE THANKSGIVING HOLIDAY
Friday, November 16, 2012
Home Equity Loans
Home Equity Loan$
A new car, home improvements, debt consolidation, a dream vacation; one of these could be the reason you are considering a loan. Perhaps a home equity loan would be the most practical type of loan for your personal financial situation.
$$$$$$$$$$$$$$$$$$$$$$$$
A home is a source of great pride and satisfaction; it can also be a source of equity. Equity refers to the cash value that has accumulated in your home since you began making regular payments. It is the difference between what your home is worth and your outstanding mortgage balance.
Why do people opt for a home equity loan? Simple, the interest rate is lower. Your rate will depend on your credit history, earnings, etc. but will typically be lower than credit card rates or a personal line of credit.
Another reason is the ability to have a longer repayment term because it is secured by the largest asset you possess, your home! A home equity loan could be amortized for up to 15 years, if approved by your lender. Since your home is the collateral on the loan, it must be paid back before you decide to sell. Also keep in mind that should you default on the loan, the lender could foreclose on your home. Be sure this is the right time for you to take this financial risk and that you can afford to make the payments. A home equity loan or line of credit does require your collateral to be your primary residence.
More reason to consider this financial tool…many times a home equity loan is tax deductible (contact your tax professional for more information).
What is the difference between a home equity loan and a home equity line of credit? A loan is a one-time funding to you. You will receive the funds you’ve borrowed and will re-pay it in predictable monthly payments. Should you need more money, you are not able to access the funds you have already paid back. You would need to apply for another loan.
A home equity line of credit is a revolving, variable-rate line of credit that allows you to access some of the funds again once you have paid them back. For example if you borrowed $8,000 and have re-paid $5,000 of it, you can use that $5,000 again if the need arises. With a line of credit your payments can vary depending on the current amount you have borrowed; the rate may also fluctuate.
Keep in mind the terms, rates, and features will vary by lender. Protect yourself, save money…shop around, compare, and negotiate!
A new car, home improvements, debt consolidation, a dream vacation; one of these could be the reason you are considering a loan. Perhaps a home equity loan would be the most practical type of loan for your personal financial situation.
$$$$$$$$$$$$$$$$$$$$$$$$
A home is a source of great pride and satisfaction; it can also be a source of equity. Equity refers to the cash value that has accumulated in your home since you began making regular payments. It is the difference between what your home is worth and your outstanding mortgage balance.
Why do people opt for a home equity loan? Simple, the interest rate is lower. Your rate will depend on your credit history, earnings, etc. but will typically be lower than credit card rates or a personal line of credit.
Another reason is the ability to have a longer repayment term because it is secured by the largest asset you possess, your home! A home equity loan could be amortized for up to 15 years, if approved by your lender. Since your home is the collateral on the loan, it must be paid back before you decide to sell. Also keep in mind that should you default on the loan, the lender could foreclose on your home. Be sure this is the right time for you to take this financial risk and that you can afford to make the payments. A home equity loan or line of credit does require your collateral to be your primary residence.
More reason to consider this financial tool…many times a home equity loan is tax deductible (contact your tax professional for more information).
What is the difference between a home equity loan and a home equity line of credit? A loan is a one-time funding to you. You will receive the funds you’ve borrowed and will re-pay it in predictable monthly payments. Should you need more money, you are not able to access the funds you have already paid back. You would need to apply for another loan.
A home equity line of credit is a revolving, variable-rate line of credit that allows you to access some of the funds again once you have paid them back. For example if you borrowed $8,000 and have re-paid $5,000 of it, you can use that $5,000 again if the need arises. With a line of credit your payments can vary depending on the current amount you have borrowed; the rate may also fluctuate.
Keep in mind the terms, rates, and features will vary by lender. Protect yourself, save money…shop around, compare, and negotiate!
Thursday, November 15, 2012
Wednesday, November 14, 2012
Tuesday, November 13, 2012
How to Avoid Potential Deal Breakers
How to Avoid Potential Deal Breakers
It is highly beneficial to work with a knowledgeable real estate professional who can advise and guide you through your home buying or selling experience. Since the unexpected is still a possibility, below are steps on how to avoid potential deal breakers.
Foreclosure date falls before buy date: With the high number of foreclosures in today’s economy, this is all too common. You find the perfect home, sign the papers, and then the home is foreclosed before you can secure your funding and seal the deal!
How to avoid: Find out the foreclosure date in the beginning and work hard to get everything done as quickly as possible!
Credit problems: The amount and type of debt you have can influence your ability to get a mortgage. Lenders do not like to see delinquency on loan payments, arrears on child support, or a high debt to income ratio.
How to avoid: Prepare ahead of time and take the steps to clean up your credit. Do your best to make timely and full payments on all your debts. Another thing to avoid…do not make large purchases (appliances, new car, etc.) until after your mortgage has been funded!
Who owns what? A home buyer thinks they are getting a 6000 sq. ft. lot, only to find out otherwise. Lot lines, shared driveways, and fences can be big stumbling blocks in a real estate transaction.
How to avoid: Review the title report carefully! They are not always easy to read, but take the time to do so carefully. Still not sure, have your real estate agent review it with you!
Proposed property use: Planning to run a business from your new home? Your dream may fizzle, if the home is not zoned for a particular use or if a homeowner’s association has the ability to deny your request.
How to avoid: Be sure to check into the zoning requirements and review any by-laws that may exist for the home.
Personal property and fixtures: Disputes over fixtures and personal property are common. It’s important to know the difference. Wall-mounted TV’s have become a frequent issue! Property that is permanently attached or fixed to real property which once removed will cause “permanent” damage to the real property is considered a fixture. Fixtures remain with the property!
How to avoid: Home sellers – if it is something special to you, remove or replace it before you list your home. Also make sure it is excluded when the offer is written.
Unexpected inspection findings: On a purchase of this size, home buyers should know what they are getting. Inspections can be deal breakers when an agreement cannot be reached on who will pay for repair costs, should a problem be discovered.
How to avoid: Sellers can have inspections done prior to putting the home on the market and can have problems fixed in advance. Home Buyers still have the option to get their own inspections performed. Repairs almost always cost the seller less if the buyer knows about if before making an offer.
Being an educated consumer and being “prepared” for the unexpected
goes a long way with holding a deal together
It is highly beneficial to work with a knowledgeable real estate professional who can advise and guide you through your home buying or selling experience. Since the unexpected is still a possibility, below are steps on how to avoid potential deal breakers.
Foreclosure date falls before buy date: With the high number of foreclosures in today’s economy, this is all too common. You find the perfect home, sign the papers, and then the home is foreclosed before you can secure your funding and seal the deal!
How to avoid: Find out the foreclosure date in the beginning and work hard to get everything done as quickly as possible!
Credit problems: The amount and type of debt you have can influence your ability to get a mortgage. Lenders do not like to see delinquency on loan payments, arrears on child support, or a high debt to income ratio.
How to avoid: Prepare ahead of time and take the steps to clean up your credit. Do your best to make timely and full payments on all your debts. Another thing to avoid…do not make large purchases (appliances, new car, etc.) until after your mortgage has been funded!
Who owns what? A home buyer thinks they are getting a 6000 sq. ft. lot, only to find out otherwise. Lot lines, shared driveways, and fences can be big stumbling blocks in a real estate transaction.
How to avoid: Review the title report carefully! They are not always easy to read, but take the time to do so carefully. Still not sure, have your real estate agent review it with you!
Proposed property use: Planning to run a business from your new home? Your dream may fizzle, if the home is not zoned for a particular use or if a homeowner’s association has the ability to deny your request.
How to avoid: Be sure to check into the zoning requirements and review any by-laws that may exist for the home.
Personal property and fixtures: Disputes over fixtures and personal property are common. It’s important to know the difference. Wall-mounted TV’s have become a frequent issue! Property that is permanently attached or fixed to real property which once removed will cause “permanent” damage to the real property is considered a fixture. Fixtures remain with the property!
How to avoid: Home sellers – if it is something special to you, remove or replace it before you list your home. Also make sure it is excluded when the offer is written.
Unexpected inspection findings: On a purchase of this size, home buyers should know what they are getting. Inspections can be deal breakers when an agreement cannot be reached on who will pay for repair costs, should a problem be discovered.
How to avoid: Sellers can have inspections done prior to putting the home on the market and can have problems fixed in advance. Home Buyers still have the option to get their own inspections performed. Repairs almost always cost the seller less if the buyer knows about if before making an offer.
Being an educated consumer and being “prepared” for the unexpected
goes a long way with holding a deal together
Friday, November 9, 2012
Be a Savvy Home Buyer
Be a Savvy Home Buyer
When searching for a home, you will find some things you can live with, but others should raise a red flag! Read on to discover the pitfalls you’ll want to avoid and which ones you can fix!
Some Red Flags
Asbestos – Asbestos has been proven to pose serious health risks. Check attics and around plumbing for asbestos insulation. Be sure to opt for a home inspection when looking at older homes if the insulation looks worn or is disintegrating.
Plumbing and Wiring – Amateur plumbing could cost big bucks if you have to rip out pipes and replace floors or walls because of leaks! This is also true for novice electrical work. Non-professional wiring can lead to shorts and cause sparks and fires. Look for exposed wiring in the basement and S-traps under the sinks; these are sure signs of shoddy workmanship!
Buried Oil Tank – Removal of an old tank can be very expensive! If left intact, you run the risk of an environmental issue; the clean-up and repairs from this could easily cost upwards of $40,000! Since this is a hidden pitfall, be sure to ask the home seller and check all details of the home’s listing information.
Water damage –Water damage found on basement walls could indicate poor drainage around the home and result in having to hire expensive experts to dig, repair, and re-grade! Water spots found in high corners could be a sign of a leaky roof or pipe damage. Check out this blog post on dealing with water damage in a flooded basement.
Shaky foundation – Take notice of uneven floors, crooked chimneys, cracks in the bricks, or even doors and windows that stick. These can all be signs of a structural issue with the home’s foundation. Serious structural issues could cost thousands of dollars if you need to repair!
Pests – Hard to spot on your own, you’ll want to hire an inspector to check the home thoroughly before buying! Wood-destroying insects (termites, carpenter ants, etc.) could cost you thousands, if undetected and untreated!
Problems you can fix:
Old Roof – Old does not necessarily mean bad, just make sure you start saving $ right away so you are prepared to replace in the future.
Ugly carpet or wallpaper – Not deal breakers! Can easily be replaced, as long as they are not being used to disguise a bigger problem!
Electric appliances – If you prefer gas, you can replace them and have a propane tank installed or the gas company run a line to your home.
No Central A/C – Window units can be used until you decide to spend the money to have a system installed.
Being a smart home buyer can make
your biggest purchase, your best purchase!
When searching for a home, you will find some things you can live with, but others should raise a red flag! Read on to discover the pitfalls you’ll want to avoid and which ones you can fix!
Some Red Flags
Asbestos – Asbestos has been proven to pose serious health risks. Check attics and around plumbing for asbestos insulation. Be sure to opt for a home inspection when looking at older homes if the insulation looks worn or is disintegrating.
Plumbing and Wiring – Amateur plumbing could cost big bucks if you have to rip out pipes and replace floors or walls because of leaks! This is also true for novice electrical work. Non-professional wiring can lead to shorts and cause sparks and fires. Look for exposed wiring in the basement and S-traps under the sinks; these are sure signs of shoddy workmanship!
Buried Oil Tank – Removal of an old tank can be very expensive! If left intact, you run the risk of an environmental issue; the clean-up and repairs from this could easily cost upwards of $40,000! Since this is a hidden pitfall, be sure to ask the home seller and check all details of the home’s listing information.
Water damage –Water damage found on basement walls could indicate poor drainage around the home and result in having to hire expensive experts to dig, repair, and re-grade! Water spots found in high corners could be a sign of a leaky roof or pipe damage. Check out this blog post on dealing with water damage in a flooded basement.
Shaky foundation – Take notice of uneven floors, crooked chimneys, cracks in the bricks, or even doors and windows that stick. These can all be signs of a structural issue with the home’s foundation. Serious structural issues could cost thousands of dollars if you need to repair!
Pests – Hard to spot on your own, you’ll want to hire an inspector to check the home thoroughly before buying! Wood-destroying insects (termites, carpenter ants, etc.) could cost you thousands, if undetected and untreated!
Problems you can fix:
Old Roof – Old does not necessarily mean bad, just make sure you start saving $ right away so you are prepared to replace in the future.
Ugly carpet or wallpaper – Not deal breakers! Can easily be replaced, as long as they are not being used to disguise a bigger problem!
Electric appliances – If you prefer gas, you can replace them and have a propane tank installed or the gas company run a line to your home.
No Central A/C – Window units can be used until you decide to spend the money to have a system installed.
Being a smart home buyer can make
your biggest purchase, your best purchase!
Thursday, November 8, 2012
Winterize Your Home
For those of you dreading the long, cold months of winter that lie ahead, taking the time this fall to follow these simple steps will save you money on heating while keeping you warm.
Block the leaks – With energy costs on the rise, nothing makes more sense to homeowners than checking for any and all leaks around your home. On a breezy day, walk around and check the obvious sources of leaks: windows, doors, electrical outlets, etc. Caulking and adding outlet gaskets are two easy fixes for these trouble areas.
Windows – As you check for leaks, it is also a good time to replace your screens with storm windows.
Clean the gutters – This may be an ongoing chore through-out the fall season. Keep all spouts, gutters, and drains free of leaves and debris. Clear gutters will keep water moving away from your home and prevent icy clogs and back-ups.
Reverse the fans – Not often thought about, but your ceiling fans can impact the comfort of your home during the winter. Adjusting the fan to rotate in a clockwise direction will push warm air down into the living area.
Wrap the pipes – A pipe burst in the dead of winter is a nightmare! Check for un-insulated pipes in your home (crawl spaces, garages, basements) and get them wrapped. Remove hoses and drain all water from outside faucets before the first frost.
Check the furnace – This should be done monthly to keep the furnace filter clean and air flowing efficiently. Replacing the filter is an easy way to keep your home comfortable ALL year round. An annual “check-up” by a professional is also a good idea.
Thermostat –Turning the temperature down a few degrees when you leave is a huge energy saver; every degree lower can save you between 1% and 3% on your energy bill. A programmable thermostat is a great way to eliminate this from your morning to-do list.
Insulate – Check the attic and other unfinished areas. It is recommended that you have a minimum of 12 inches of insulation. If you decide to add more insulation, avoid the type with paper backing, this will act as a vapor barrier and cause moisture problems.
Check the chimney – Last but not least…take a look at your chimney if you plan on using it over the winter. This should be done at least once a year, more often if you are using a woodstove. A chimney cap is also good idea for keeping foreign items out of the chimney. If not in use, close the damper to avoid cold drafts.
Stay Ahead of “Old Man Winter” and Protect Your Home!
Wednesday, November 7, 2012
Breakfast Ride on Sunday
Yeah the weather is suppposed to be ugly for the next couple days but by the weekend it's supposed to be around 60.
Plenty warm enough to get out and ride unless you're a complete poser.
So why not Support Citizens Fire and Rescue in Mechanicsburg and their breakfast buffet on Sunday 11 November?
7:30 AM - 11:00 AM
208 South York Street
Mechanicsburg, PA 17055
Plenty warm enough to get out and ride unless you're a complete poser.
So why not Support Citizens Fire and Rescue in Mechanicsburg and their breakfast buffet on Sunday 11 November?
7:30 AM - 11:00 AM
208 South York Street
Mechanicsburg, PA 17055
Home Cost v. Price
Cost vs. Price Explained
by The KCM Crew on November 7, 2012 · 0 Comments
We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let us explain.
Yesterday, we reported that the Mortgage Bankers Association (MBA) is projecting that mortgage interest rates will inch up over the next twelve months. On Monday, we explained that many experts are calling for home prices to also increase over the next year.
What Does This Mean to a Buyer?
Here is a simple demonstration of what impact certain changes would have on the mortgage payment of a home selling for approximately $200,000 today:
by The KCM Crew on November 7, 2012 · 0 Comments
We have often talked about the difference between COST and PRICE. As a seller, you will be most concerned about ‘short term price’ – where home values are headed over the next six months. As a buyer, you must be concerned not about price but instead about the ‘long term cost’ of the home. Let us explain.
Yesterday, we reported that the Mortgage Bankers Association (MBA) is projecting that mortgage interest rates will inch up over the next twelve months. On Monday, we explained that many experts are calling for home prices to also increase over the next year.
What Does This Mean to a Buyer?
Here is a simple demonstration of what impact certain changes would have on the mortgage payment of a home selling for approximately $200,000 today:
Tuesday, November 6, 2012
Monday, November 5, 2012
Value of Takeaways when selling
A time-honored business principal maintains that consumers generally base their buying decisions on emotion. Only later do they use logic, often to rationalize their emotional decisions.
Homesellers, working closely with their agents, will prepare their homes to evoke positive and personal emotions for those who come inside. They should also create “takeaways” that will keep those fond memories resonating in prospective buyers.
“One effective takeaway is a personal letter from you describing your experience of falling in love with the home when you were the buyer,” said Kay Steele Faulk, a Lake Village, Ark. freelance writer.
The letter, presented on brightly colored stationery, can describe the fun of meeting your new neighbors and the warm friendships you’ve established in the neighborhood. It can also recall joyous holidays around the home, show pictures of your home during special times and list neighborhood activities scheduled throughout the year.
“You should recall a memorable moment of coming home, such as after the birth of a child or after a long vacation, because these are all things buyers can relate to emotionally, they will serve to reinforce the positive feelings buyers experienced at your home,” Faulk said. “And to satisfy buyers’ logic—which they will use to justify their emotional connection to your home—also describe the loving care you’ve given the home while there.”
Once all the words are in play to touch upon the emotions, then it’s time to write about things that will relate to buyers’ practical sides.
Russell Goldstein, a New Jersey-based writer who often helps homebuyers prepare personal letters, stresses that this is the perfect way to say all the little things you can’t always place in advertisements and fliers.
“You can list your routine maintenance tasks plus any remodeling, updates or upgrades you’ve done in the years you have lived there,” he said. “Include anything that gives buyers a sense of confidence in your home’s current condition, and be sure to mention any special features you paid high dollar for, such as thicker exterior walls, which have better insulation values. These are your home’s key marketing details that make it a better buy than the competition down the street.”
A second effective takeaway is a home brochure created around high-quality color photographs of your home’s interior and exterior. “Use photos that highlight your home’s most appealing features,” Faulk said. “Just be sure each photo has a caption or short description that helps buyers remember. Even with a brochure, you still need that all-important section meant to satisfy buyers’ logic. This can simply be a descriptive sentence followed by a list of your home’s key marketing details and the T.L.C. you’ve given [the home] as owner. To make for easy reading, use bullet points to highlight each item of your list.”
If you’re good at writing warm personal letters or if you have the ability to create a professional-looking brochure, it’s quite acceptable to save money by doing it yourself. If not, turn to a professional copywriter to create a compelling takeaway that ensures a lasting emotional connection with buyers.
Thursday, November 1, 2012
How to Inspect Windows & Doors to Stop Air and Water Leaks
-
How to Inspect Windows, Doors to Stop Air and Water Leaks
Inspect windows and doors regularly to stop air leaks and water seeps that create high energy and repair bills. We’ll show you how. Read
Visit houselogic.com for more articles like this.
Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®
Wednesday, October 31, 2012
What to do When Your Basement Floods
What to do When Your Basement Floods?!?
We hope you and your families are safe after the passing of Hurricane Sandy!
Should you find yourself with a flooded basement, the clean-up can be a daunting task. Read on to learn how you can start the clean-up and repairs…
Things you will need:
•Electric Pump
•Spray Bottle
•Bleach
•Industrial Size Fan
1) Contact your Insurance Co. – First and foremost, contact your insurance company immediately to find out what your specific policy covers and what the requirements for filing a claim, cleaning up, etc. might be!
2) Fix the source – If POSSIBLE you need to stop the flooding as quickly as possible to reduce the amount of damage. If the culprit is a broken pipe, shut off the main water valve immediately. If the water source is Mother Nature, unfortunately you may need to wait for the flood waters to recede.
3) Remove the water – It is important to get the water out of the basement as quickly as possible. Some homeowners may be aware that their basement is prone to flooding and already have a sump pump in place. If this is a new problem for you, you will want to look into getting a sump pump asap! Many hardware stores will rent them or perhaps you have a friend/neighbor who can lend you a pump. Make sure it is powerful enough for the task at hand and that the hose is long enough to drain the water far away from your home. A last resort would be a wet-dry shop vac, but be prepared for a time-consuming, back-breaking job! Another good idea, if the weather permits, is to open windows in your basement. This will help get some moisture out of the air in your basement.
4) Remove your belongings – Once the majority of water has been controlled and removed, get your belongings to drier ground and begin the process of drying them and salvaging what you can. Spread everything out in a dry area. All toys and similar objects should be dried and then washed with a bleach solution to get rid of bacteria.
5) Pull up carpets and discard – Carpets and padding unfortunately do not usually survive water damage! They are the perfect soggy source for the growth of mold and bacteria. It is best to destroy and replace them.
6) Disinfect – Not only will your possessions need cleaned, but any surface in the basement that can be cleaned SHOULD be cleaned! All walls and the floor should be washed with a weak bleach solution and rinsed with warm water. You can use the spray bottle for easy application of the cleaner.
7) Dry, dry, dry – Once all belongings, carpets, etc… have been removed, and everything has been disinfected……continue with the drying process! You want to make sure EVERYTHING is COMPETELY dry! Some hardware stores will have industrial-sized fans you can rent. Place at least one in the doorway and/or window and point it out of the basement to suck the moisture out. Another option is to turn up the heat, keeping the windows open to allow moisture to escape. However, if the heating system has been damaged by the water…….contact a professional to look at it before you try to turn it on! A dehumidifier can also be used, but if you choose this option you will want to close the windows. Keep an eye on the holding container it will need to be emptied frequently until all moisture is absorbed.
Once DRY, you can begin to replace the flooring and put your possessions back where they belong. Whew…….quite a task!! Hopefully this is one you won’t have to perform too many times!!
We hope you and your families are safe after the passing of Hurricane Sandy!
Should you find yourself with a flooded basement, the clean-up can be a daunting task. Read on to learn how you can start the clean-up and repairs…
Things you will need:
•Electric Pump
•Spray Bottle
•Bleach
•Industrial Size Fan
1) Contact your Insurance Co. – First and foremost, contact your insurance company immediately to find out what your specific policy covers and what the requirements for filing a claim, cleaning up, etc. might be!
2) Fix the source – If POSSIBLE you need to stop the flooding as quickly as possible to reduce the amount of damage. If the culprit is a broken pipe, shut off the main water valve immediately. If the water source is Mother Nature, unfortunately you may need to wait for the flood waters to recede.
3) Remove the water – It is important to get the water out of the basement as quickly as possible. Some homeowners may be aware that their basement is prone to flooding and already have a sump pump in place. If this is a new problem for you, you will want to look into getting a sump pump asap! Many hardware stores will rent them or perhaps you have a friend/neighbor who can lend you a pump. Make sure it is powerful enough for the task at hand and that the hose is long enough to drain the water far away from your home. A last resort would be a wet-dry shop vac, but be prepared for a time-consuming, back-breaking job! Another good idea, if the weather permits, is to open windows in your basement. This will help get some moisture out of the air in your basement.
4) Remove your belongings – Once the majority of water has been controlled and removed, get your belongings to drier ground and begin the process of drying them and salvaging what you can. Spread everything out in a dry area. All toys and similar objects should be dried and then washed with a bleach solution to get rid of bacteria.
5) Pull up carpets and discard – Carpets and padding unfortunately do not usually survive water damage! They are the perfect soggy source for the growth of mold and bacteria. It is best to destroy and replace them.
6) Disinfect – Not only will your possessions need cleaned, but any surface in the basement that can be cleaned SHOULD be cleaned! All walls and the floor should be washed with a weak bleach solution and rinsed with warm water. You can use the spray bottle for easy application of the cleaner.
7) Dry, dry, dry – Once all belongings, carpets, etc… have been removed, and everything has been disinfected……continue with the drying process! You want to make sure EVERYTHING is COMPETELY dry! Some hardware stores will have industrial-sized fans you can rent. Place at least one in the doorway and/or window and point it out of the basement to suck the moisture out. Another option is to turn up the heat, keeping the windows open to allow moisture to escape. However, if the heating system has been damaged by the water…….contact a professional to look at it before you try to turn it on! A dehumidifier can also be used, but if you choose this option you will want to close the windows. Keep an eye on the holding container it will need to be emptied frequently until all moisture is absorbed.
Once DRY, you can begin to replace the flooring and put your possessions back where they belong. Whew…….quite a task!! Hopefully this is one you won’t have to perform too many times!!
Tuesday, October 30, 2012
Monday, October 29, 2012
Spooky Smells and Sounds in your House
At times the unexplained noises and odors found in your own home can seem terrifying. Here are some simple and reassuring explanations.
Friday, October 26, 2012
SAVE ON UTILITIES
Announcing Homesale Connex to help you save on your utilities and more.
How Homesale Connex works
1. We research great deals with trusted, proven suppliers.
2. Sign-up to take advantage of lower electricity, natural gas, heating oil, cable and
security rates, plus coupons and rebates for appliances.
3. Then the system will monitor each account, advise you on renewal periods, and
new provider opportunities.
No sign up or membership costs. Just go to:
http://www.homesaleconnex.com/go/agordon
to check the deals in your area.
Or give me a call and we can discuss.
Wednesday, October 24, 2012
Tuesday, October 23, 2012
Don’t Drench Your Home Sale by Ignoring Plumbing Issues
Don’t Drench Your Home Sale by Ignoring Plumbing Issues
A plumbing checkup should be among your top priorities when preparing your home for sale. Your buying prospects might flush toilets, turns on faucets and inspect the showerheads, while more seasoned “experts” will look under the cabinets for leaks and check for water spots around key areas. The last thing you want is to drench a buyer’s enthusiasm because you didn’t fix a simple plumbing issue.
Major plumbing renovations may be huge selling points, but many homeowners can get as much credit by simply fixing leaks and changing out a few faucets. If you can’t make repairs yourself invest in a reputable plumber.
Before allowing prospective buyers into your home, make sure you have strong water pressure and that there are no stains on any of the porcelain. Hire a local housecleaning company to remove difficult stains.
If you do nothing else, take care of any leaks in your plumbing system, as these will be instant deterrents for buyers. Check as much of your plumbing as possible for corrosion or rust. If your house has more than one story, a smart buyer will look at ceilings for water stains from leaking pipes. Make sure to paint the ceiling following repairs.
Prospective homeowners tend to focus on places where they can use their hands, so make sure that all the hot and cold water knobs are easy to turn, and that the faucets do not leak. Also ensure that sinks and tubs drain easily.
Finally, updated fixtures catch the eye of prospective buyers. A relatively small investment for new faucets can pay off when prospects walk through.
No buyer wants problems. Take care of simple plumbing issues and keep your sale from going down the drain.
For questions about this or any other real estate matter don't hesitate to give me a call.
A plumbing checkup should be among your top priorities when preparing your home for sale. Your buying prospects might flush toilets, turns on faucets and inspect the showerheads, while more seasoned “experts” will look under the cabinets for leaks and check for water spots around key areas. The last thing you want is to drench a buyer’s enthusiasm because you didn’t fix a simple plumbing issue.
Major plumbing renovations may be huge selling points, but many homeowners can get as much credit by simply fixing leaks and changing out a few faucets. If you can’t make repairs yourself invest in a reputable plumber.
Before allowing prospective buyers into your home, make sure you have strong water pressure and that there are no stains on any of the porcelain. Hire a local housecleaning company to remove difficult stains.
If you do nothing else, take care of any leaks in your plumbing system, as these will be instant deterrents for buyers. Check as much of your plumbing as possible for corrosion or rust. If your house has more than one story, a smart buyer will look at ceilings for water stains from leaking pipes. Make sure to paint the ceiling following repairs.
Prospective homeowners tend to focus on places where they can use their hands, so make sure that all the hot and cold water knobs are easy to turn, and that the faucets do not leak. Also ensure that sinks and tubs drain easily.
Finally, updated fixtures catch the eye of prospective buyers. A relatively small investment for new faucets can pay off when prospects walk through.
No buyer wants problems. Take care of simple plumbing issues and keep your sale from going down the drain.
For questions about this or any other real estate matter don't hesitate to give me a call.
Monday, October 22, 2012
Renting versus Buying
RENTING VS BUYING
Owning your own home has often been referred to as the “American Dream”. Before the housing crisis began in 2007, it wasn’t even a question as to whether or not you should try to buy a home. The thought was…..If you could afford it, you should do it!! The housing crisis has definitely taken its toll and made people stop to think before taking this leap. With current mortgage rates at an all-time low, the question has come up again, repeatedly. This could be the best time for renters to become first time homeowners.
Even though the real estate market has changed dramatically over the past few years, your thought process should still be the same as in the past. Some factors you should consider:
•Hope for appreciation. As in the past, your home should appreciate in value over the years. The beauty of your home is more than just an increasing dollar value. Being able to make your home into something that reflects you personally is also a very rewarding.
•Stay put. Be sure you are ready to stay in the same place for at least 4 years. Moving too early can cost you more than just the hassle of packing all your belongings. Moving too quickly will not allow you to build much equity in your home.
•Be ready. Don’t just be emotionally ready to buy, make sure you’re financially ready as well. Build your credit and savings before buying; having both of these items in tip-top shape will help you secure a better interest rate on your mortgage!
•Location. Buy in an expanding area. An area with a growing economy and employment opportunities will help bring greater value to your home purchase.
Still unsure about taking the big step, here are a few more items to ponder:
Advantages Disadvantages
Buying:
•Freedom to paint, remodel and change landscaping
•Build Equity
•Sense of stability, security
•Not dependent on landlord for upkeep
•Responsible for maintenance
•Higher costs, taxes, insurance, etc.
•Less mobility
•Possibility of equity loss or even foreclosure
Renting:
•Little or no responsibility for maintenance
•Easier to move
•No additional costs, like taxes or maintenance charges
•No equity is built up
•No control over rent increases
•Dependent on landlord to make timely repairs, etc.
•No freedom to decorate
Bottom line: after considering the factors above, if you feel like you are in the right place and at the right time in your life to buy a home, I'll be happy to help!
Owning your own home has often been referred to as the “American Dream”. Before the housing crisis began in 2007, it wasn’t even a question as to whether or not you should try to buy a home. The thought was…..If you could afford it, you should do it!! The housing crisis has definitely taken its toll and made people stop to think before taking this leap. With current mortgage rates at an all-time low, the question has come up again, repeatedly. This could be the best time for renters to become first time homeowners.
Even though the real estate market has changed dramatically over the past few years, your thought process should still be the same as in the past. Some factors you should consider:
•Hope for appreciation. As in the past, your home should appreciate in value over the years. The beauty of your home is more than just an increasing dollar value. Being able to make your home into something that reflects you personally is also a very rewarding.
•Stay put. Be sure you are ready to stay in the same place for at least 4 years. Moving too early can cost you more than just the hassle of packing all your belongings. Moving too quickly will not allow you to build much equity in your home.
•Be ready. Don’t just be emotionally ready to buy, make sure you’re financially ready as well. Build your credit and savings before buying; having both of these items in tip-top shape will help you secure a better interest rate on your mortgage!
•Location. Buy in an expanding area. An area with a growing economy and employment opportunities will help bring greater value to your home purchase.
Still unsure about taking the big step, here are a few more items to ponder:
Advantages Disadvantages
Buying:
•Freedom to paint, remodel and change landscaping
•Build Equity
•Sense of stability, security
•Not dependent on landlord for upkeep
•Responsible for maintenance
•Higher costs, taxes, insurance, etc.
•Less mobility
•Possibility of equity loss or even foreclosure
Renting:
•Little or no responsibility for maintenance
•Easier to move
•No additional costs, like taxes or maintenance charges
•No equity is built up
•No control over rent increases
•Dependent on landlord to make timely repairs, etc.
•No freedom to decorate
Bottom line: after considering the factors above, if you feel like you are in the right place and at the right time in your life to buy a home, I'll be happy to help!
Friday, October 19, 2012
New Kingstown Breakfast Ride
Sunday 21 October from 6:00 AM
Breakfast Buffet at the New Kingstown Fire Company
277 North Locust Point Road
New Kingstown, PA 17072
Map
Breakfast Buffet at the New Kingstown Fire Company
277 North Locust Point Road
New Kingstown, PA 17072
Map
Watch as You Walk Through the "Perfect" House
Watch as you Walk Through
There’s nothing worse than finding a great home only to discover that it’s a money pit waiting to happen. Let’s face it, sellers won’t always disclose everything that’s wrong.
No house is ever as “perfect” as it may appear, and with an inspection and due diligence on the part of you and your agent, you will learn about most potential problems. Watch for red flags.
Start by looking around the neighborhood. Are there many homes for sale? Are local stores and restaurants closing? If you notice that a lot of people are looking to leave the neighborhood, there’s probably a reason why. You may have found a great home, but if it’s in a bad neighborhood, it’s going to affect the value.
You also need to pay close attention to the way the exterior of the home has been treated. If you see extra layers of roofing, boards near walls, plants growing out of the gutters or lots of cracks in the pavement, chances are not much care went into maintaining the property.
While you’re outside, look at the yard grading. If the yard slopes toward the house, it could cause a serious water problem with water running down the foundation walls or into the basement. Scour the foundation for damage as bulges or cracks bigger than one-third inch can mean the house has serious structural issues.
Don’t be afraid to use your nose as an indicator as well as your eyes. If you smell sewage, gas or anything else that’s unpleasant, it could be caused by serious issues. If you are getting close to a buy, hire a plumbing company to send a camera through the pipes to determine if there are any blockages or breaks.
Inside, one of the most important things to look at is the wiring. Flip the light switches in the home to make sure they work. Check out the fuse box and see if it looks like something out of the 1940s. Ask if the electric has been updated in the last 10 years, because that’s something that can be costly once you move in.
Next, check for bugs, ants and traps hidden in the corners or under baseboards. A savvy home seller won’t leave mousetraps out, but often they forget about the little roach motels. Not that little creatures in the house should immediately scare you away, but if you see lots of ants—especially carpenter ants around wood—it could be a sign that there’s a problem.
Remember, the job of the home seller is to make the house as attractive as possible and hide all of its faults. With a little detective work, you can save a lot of time and money in the long run and make sure that house is good enough to become your home.
There’s nothing worse than finding a great home only to discover that it’s a money pit waiting to happen. Let’s face it, sellers won’t always disclose everything that’s wrong.
No house is ever as “perfect” as it may appear, and with an inspection and due diligence on the part of you and your agent, you will learn about most potential problems. Watch for red flags.
Start by looking around the neighborhood. Are there many homes for sale? Are local stores and restaurants closing? If you notice that a lot of people are looking to leave the neighborhood, there’s probably a reason why. You may have found a great home, but if it’s in a bad neighborhood, it’s going to affect the value.
You also need to pay close attention to the way the exterior of the home has been treated. If you see extra layers of roofing, boards near walls, plants growing out of the gutters or lots of cracks in the pavement, chances are not much care went into maintaining the property.
While you’re outside, look at the yard grading. If the yard slopes toward the house, it could cause a serious water problem with water running down the foundation walls or into the basement. Scour the foundation for damage as bulges or cracks bigger than one-third inch can mean the house has serious structural issues.
Don’t be afraid to use your nose as an indicator as well as your eyes. If you smell sewage, gas or anything else that’s unpleasant, it could be caused by serious issues. If you are getting close to a buy, hire a plumbing company to send a camera through the pipes to determine if there are any blockages or breaks.
Inside, one of the most important things to look at is the wiring. Flip the light switches in the home to make sure they work. Check out the fuse box and see if it looks like something out of the 1940s. Ask if the electric has been updated in the last 10 years, because that’s something that can be costly once you move in.
Next, check for bugs, ants and traps hidden in the corners or under baseboards. A savvy home seller won’t leave mousetraps out, but often they forget about the little roach motels. Not that little creatures in the house should immediately scare you away, but if you see lots of ants—especially carpenter ants around wood—it could be a sign that there’s a problem.
Remember, the job of the home seller is to make the house as attractive as possible and hide all of its faults. With a little detective work, you can save a lot of time and money in the long run and make sure that house is good enough to become your home.
Thursday, October 18, 2012
Monday, October 15, 2012
Fall Landscapin to prepare for winter
Fall Landscaping: How to Prepare Your Yard for Winter
Fall landscaping preparations ready your yard for a long winter and glorious spring. Read
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Visit houselogic.com for more articles like this.
© Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®
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Friday, October 12, 2012
Wednesday, October 10, 2012
Garage Makeover (Part 2)
Garage Makeover (Part 2)
In today’s economy, homeowners are trying to make every inch of their home useful. They want more active and functional living space. Reclaiming attics, storage rooms, closets, garden sheds and garages is the easiest way to utilize wasted space. Garages are often full of “junk” that we no longer need or use. By giving your garage a makeover you can transform that cluttered space into a totally new and functional living area. By using these few tips you will feel confident and ready to show off your new space.
Furniture
Use a modern modular couch. They are
easily re-arranged and come with removable
slipcovers that can be washed easily. Garage Door
Use colored sheets of plastic to dress-up
the garage door. These can be found at any
hardware store and can be easily screwed into
the door frame.
Windowless?
Peel-and-stick mirrors will reflect light,
creating a brighter space. Storage
Movable partitions are the easiest way to hide
unwanted items.
Accent Color
Pick an accent color and use it sparingly.
Incorporate this color into accesories like
pillows and centerpiece for a table. Lighting
Hanging lights create the illusion
of height and create dimension
against a flat surface.
Floors
Remove old oil stains using an acid cleaning solution.
Use paint (formulated for garage floor use), carpet,
or colorful interlocking tiles to give the floor a more
comforting and appealing look. Door
Don’t forget about the door! Purchase a new door that fits
the style and look of your new room. Make sure to get the
correct size and allow space for weather stripping.
Information courtesy of ThisOldHouse.com and hgtv.com2010.
In today’s economy, homeowners are trying to make every inch of their home useful. They want more active and functional living space. Reclaiming attics, storage rooms, closets, garden sheds and garages is the easiest way to utilize wasted space. Garages are often full of “junk” that we no longer need or use. By giving your garage a makeover you can transform that cluttered space into a totally new and functional living area. By using these few tips you will feel confident and ready to show off your new space.
Furniture
Use a modern modular couch. They are
easily re-arranged and come with removable
slipcovers that can be washed easily. Garage Door
Use colored sheets of plastic to dress-up
the garage door. These can be found at any
hardware store and can be easily screwed into
the door frame.
Windowless?
Peel-and-stick mirrors will reflect light,
creating a brighter space. Storage
Movable partitions are the easiest way to hide
unwanted items.
Accent Color
Pick an accent color and use it sparingly.
Incorporate this color into accesories like
pillows and centerpiece for a table. Lighting
Hanging lights create the illusion
of height and create dimension
against a flat surface.
Floors
Remove old oil stains using an acid cleaning solution.
Use paint (formulated for garage floor use), carpet,
or colorful interlocking tiles to give the floor a more
comforting and appealing look. Door
Don’t forget about the door! Purchase a new door that fits
the style and look of your new room. Make sure to get the
correct size and allow space for weather stripping.
Information courtesy of ThisOldHouse.com and hgtv.com2010.
Tuesday, October 9, 2012
Monday, October 8, 2012
Tricks to fool Burglar
 | Clever Security Tricks That Will Fool Any Burglar
A little ingenuity can make your house more secure when you’re home alone or away on vacation. Read
|
Visit houselogic.com for more articles like this.
© Copyright 2012 NATIONAL ASSOCIATION OF REALTORS®
| |
Friday, October 5, 2012
Garage Makeover
“An open garage is the window to one’s home,” says Monica Friel, an organizer with Chaos to Order from Chicago. Many of us have the typical garage dilemma…CLUTTER! We often use the garage as an area to store items away, and it can easily get out of control. But don’t worry, there is a solution. With these simple tips, you can have your garage organized and clutter free in no time. You may even be able to park your car in there!
The first thing to do is to CLEAR OUT. Go through the things that are just lying around. If it’s broken throw it away; if you don’t need it or don’t use it, give it away or have a yard sale. Having a yard sale is a great way to make a few extra bucks and can help with the cost of new organizers.
After everything is cleared out, it’s time to MAKE A PLAN. Think about the items you have and what can be stored together. Separating your garage into different zones is a great way to keep your things organized and easily accessible. Give gardening tools, sporting goods, holiday decorations, automotive supplies and garbage their own space. Draw a floor plan, as you would for other rooms in your house, to help you visualize where things will fit best.
Next you’re going to want to CATEGORIZE. Make sure you keep all similar items together. Keep gardening tools in a rolling organizer or stow away totes, for easier access. Hang sporting goods on wall hooks. Categorize holiday decorations in clear totes with color-coded tops. Use green for Christmas, orange for Halloween and red for Fourth of July. Use shelving to organize automotive supplies and tools. Vertical storage systems or particle-board shelving are the most common way to keep tools and supplies together and organized. Make sure that any sharp or dangerous tools are kept out of the reach of children. As for garbage, use cans with lids and working wheels. This makes it easier to transport to the curb. By using a tall shelving unit, like a customizable open-wired system, you can store the cans underneath and still utilize the top space for garbage bags, recycling bins and other items to make the process easier.
Homeowners and sellers alike can benefit from these tips. It’s just one more step in the right direction towards a cleaner, clutter-free home!
Thursday, October 4, 2012
Don't forget breakfast rides
This Sunday Oct. 7 Citizens Fire & Rescue in Mechanicsburg.
A great place to fuel up before you go off on your fall foliage ride.
A great place to fuel up before you go off on your fall foliage ride.
Tuesday, October 2, 2012
The incredible decrease in the cost of ownership in the last 10 years
Cost of ownership is the real question.
The buyer should always look at the COST of a home, not just the PRICE. The cost is determined by the price and the mortgage interest rate which is available at the time. Below is a list of the interest rates over the last ten years and the impact they have on a $100,000 mortgage payment
Friday, September 28, 2012
The Truth About Radon Gas
There’s a scene in “The Princess Bride” where the villainous Vizzini offers his adversary an invisible, odorless and tasteless poison. While his description is meant to conjure laughs, he could have just as easily been talking about radon gas.
You can’t see, smell or taste radon, yet exposure to the gas can make you sick. In fact, the Surgeon General has warned that radon is the second-leading cause of lung cancer in the United States today after smoking.
Radon comes from the natural (radioactive) breakdown of uranium in soil, rock and water and may sneak into the air you breathe by penetrating your home through cracks in the foundation. It can be discovered in all parts of the country and can cause a dangerous high indoor radon level in any home. According to the Environmental Protection Agency, roughly one out of every 15 homes in the U.S. is estimated to have elevated radon levels.
While it’s not a requirement that you test for radon when you make an offer to buy a home in many places, it’s a good idea to ask for a Radon Inspection Contingency.
A Radon Inspection Contingency can put some structure into getting a “short-term” radon test done on any home to make sure the levels of radon on the lowest level of the home are below the 4.0 pCi/L level.That level was a target set by the U.S. Congress for indoor air quality, and the U.S. EPA enforces that mandate.
If you are preparing to sell your home, you should test for radon before you even put it on the market. This can save valuable time during a real estate transaction, as long as you have all the paperwork and testing data to show the prospective buyer.
The quickest way to detect radon is with short-term tests, which remain in your home for two to 90 days, depending on the device. The most common detectors are charcoal canisters, alpha track, electret ion chamber, continuous monitors and charcoal liquid scintillation.
Test the home in the lowest level that you currently live in, or a lower level not currently used, but which a buyer could use for living space without making renovations. Elevated radon levels can be remedied with a radon-reduction system, which can reduce the gas by up to 99% percent and cost less than $1,000 to buy and install.
Buyers and sellers should be smart about radon. Every new home should be tested after occupancy, even if it was built radon-resistant or with a radon reducing system installed.
Tuesday, September 25, 2012
Down Payment Tips
Down Payment Tips
Many people dream of owning a home but don't think it's possible because they lack the resources for a down payment and closing costs. Here are tips for securing that down payment.
1) Borrow from your retirement account: Many people have been investing in a 401(k) plan or traditional IRA for years and first-time homebuyers may borrow up to $10,000 for their down payment without incurring a penalty. For those self-employed or if your employer allows it, you also can borrow up to $50,000 from your current 401(k) and pay yourself back over five years at a low interest rate.
2) Ask family: Sure, you may be too proud to ask for money, but if relatives can help you and your family move into that dream home, isn’t it worth it? If you do get help from a family member, the lender will ask you to sign a gift-letter form, attesting to the relationship. The lender may also require your relatives to explain where they got the money and prove that they are financially able to make such a gift.
3) Look for down payment assistance grants: Down payment assistance and community redevelopment programs offer affordable housing opportunities to first-time homebuyers, low-income and moderate-income individuals and families who wish to own a home.
4) Come to a lease/purchase agreement: Homeowners who can’t sell their homes in this market may consider a lease/purchase agreement, where you rent the home you want to buy and a percentage of your rent is applied toward the down payment. If you go this route, make sure you get a contract outlining all the details so both parties are protected.
5) Add it to the wedding registry: Several mortgage companies allow those getting married to set up a down payment registry. This is a great way to celebrate the joining of two people in matrimony.
6) Cut back and save: If none of the other ways will work for you, there’s always the old fashioned “saving for a rainy day.” Try putting aside 10% of each paycheck and make your meals instead of going out for them. If you’re married, save the money you would spend on birthday, anniversary and Christmas presents and put it toward your house. You also may need to forget that vacation this year.
These sacrifices may seem significant but they will be worth it once you’re inside your own home.
Many people dream of owning a home but don't think it's possible because they lack the resources for a down payment and closing costs. Here are tips for securing that down payment.
1) Borrow from your retirement account: Many people have been investing in a 401(k) plan or traditional IRA for years and first-time homebuyers may borrow up to $10,000 for their down payment without incurring a penalty. For those self-employed or if your employer allows it, you also can borrow up to $50,000 from your current 401(k) and pay yourself back over five years at a low interest rate.
2) Ask family: Sure, you may be too proud to ask for money, but if relatives can help you and your family move into that dream home, isn’t it worth it? If you do get help from a family member, the lender will ask you to sign a gift-letter form, attesting to the relationship. The lender may also require your relatives to explain where they got the money and prove that they are financially able to make such a gift.
3) Look for down payment assistance grants: Down payment assistance and community redevelopment programs offer affordable housing opportunities to first-time homebuyers, low-income and moderate-income individuals and families who wish to own a home.
4) Come to a lease/purchase agreement: Homeowners who can’t sell their homes in this market may consider a lease/purchase agreement, where you rent the home you want to buy and a percentage of your rent is applied toward the down payment. If you go this route, make sure you get a contract outlining all the details so both parties are protected.
5) Add it to the wedding registry: Several mortgage companies allow those getting married to set up a down payment registry. This is a great way to celebrate the joining of two people in matrimony.
6) Cut back and save: If none of the other ways will work for you, there’s always the old fashioned “saving for a rainy day.” Try putting aside 10% of each paycheck and make your meals instead of going out for them. If you’re married, save the money you would spend on birthday, anniversary and Christmas presents and put it toward your house. You also may need to forget that vacation this year.
These sacrifices may seem significant but they will be worth it once you’re inside your own home.
Monday, September 24, 2012
Friday, September 21, 2012
Why I do the Ride For Kids
Once in a while, I get asked why I do the Ride for Kids every year.
I think this video by the parents of one of the kids explains it better than I can. If you can watch it without a throat catch you wouldn't understand.
Baltimore Washington Ride for Kids
I think this video by the parents of one of the kids explains it better than I can. If you can watch it without a throat catch you wouldn't understand.
Baltimore Washington Ride for Kids
Thursday, September 20, 2012
New Prudential Homesale Mobile site
Not an app
Nothing to download
And it's map driven so you can use it quickly to find out about the home in front of you.
Just go to prudentialhomesale.com on your Android or Apple smart phone
Here's a video with more inforamation
Nothing to download
And it's map driven so you can use it quickly to find out about the home in front of you.
Just go to prudentialhomesale.com on your Android or Apple smart phone
Here's a video with more inforamation
Wednesday, September 19, 2012
Ride for Kids this Sunday
The Ride for Kids Baltimore/Washington Ride is the Sunday, September 23.
The ride supports the Pediatric Brain Tumor Foundation.
Forget politics and come help some suffering kids and families
Leaves from Turf Valley in Ellicott City at 9 AM.
Click here for more info
If you can't make it you can donate online here
The ride supports the Pediatric Brain Tumor Foundation.
Forget politics and come help some suffering kids and families
Leaves from Turf Valley in Ellicott City at 9 AM.
Click here for more info
If you can't make it you can donate online here
Monday, September 17, 2012
Friday, September 14, 2012
Thursday, August 23, 2012
Helping a Few Homeowners May Harm a Lot
Helping Underwater Borrowers is Great Until it Costs Everyone Else
By: Dona DeZube
Published: July 24, 2012
When state lawmakers tinker with mortgage banking rules, home owners get stuck with the bill.
California lawmakers seem determined to raise the cost of home mortgages by tinkering with the laws governing home loans.
In June, a handful of California cities started talking about seizing the loans of troubled home owners by using eminent domain — a practice governments typically use to seize property for public use, like seizing your home to build a highway. The idea is to readjust the loan amount to reflect the home’s actual value.
Then, in July, the California legislature took the multi-billion national servicing settlement that five big banks and the state attorneys general worked out and used it to create foreclosure protections that’ll apply only to mortgages on California homes.
The two moves have one thing in common: They sound like good ideas until you realize who’s going to pick up the tab for those changes — mortgage borrowers.
When individual states set mortgage servicing rules instead of following national rules, banks have to spend money to track and follow multiple rules. What’s more, banks make less money from the loans they sell to investors. So if it costs more to lend, bankers will pass on those increased costs to the consumer.
Here’s how it works
Suppose a house is worth $100,000 but has a $200,000 mortgage. Under the seizure gambit, the city would seize the mortgage, pay the investor $100,000 instead of the $200,000 that’s owed, and the home owners would get a new loan for just under $100,000 (because you still have to make a small downpayment). The program would only be used for loans that aren’t guaranteed by Fannie Mae, Freddie Mac, or FHA, which, granted, isn’t the majority of loans.
Catch-22?
On one hand, the eminent domain proposal could help home owners whose loans were seized. If you’re underwater on your mortgage but current on your payments, the city seizes your loan, and gets you a mortgage that better matches the value of your home, you’re more likely to avoid foreclosure. Not to mention that the process helps stabilize neighborhood home values.
But it’s going to cost everyone else who has a mortgage. The investors who made your original home loan will lose a lot of money and won’t want to get burned again. They’ll want more do-re-me for putting their money into mortgages that can be seized. The chain reaction ends with you.
Bottom line: Anyone getting a mortgage to buy a house or refinance an existing loan will have to pay more to compensate investors for that risk.
Put yourself in the investors’ shoes
Would you invest in California or other state mortgages if you’re unlikely to get back the amount you invested? If you do invest, you’ll want a lot more money to cover the risk you’re taking. That means we all face even tighter lending standards and higher downpayments. As it is, credit conditions are still way too tight to meet pent-up market demand.
States really need to back off and let the federal regulators do their jobs. I don’t always agree with everything the feds do, but in recent years, federally guaranteed loans have been about the only mortgage option available to borrowers. It was the feds that managed to keep mortgage money flowing throughout the U.S. during one of the most challenging periods to ever occur in the real estate market.
And sticking with one devil we know is a lot cheaper than dealing with the 50 we don’t know.
What do you think about this seizure strategy? Will it help a few and harm a lot?
.
By: Dona DeZube
Published: July 24, 2012
When state lawmakers tinker with mortgage banking rules, home owners get stuck with the bill.
California lawmakers seem determined to raise the cost of home mortgages by tinkering with the laws governing home loans.
In June, a handful of California cities started talking about seizing the loans of troubled home owners by using eminent domain — a practice governments typically use to seize property for public use, like seizing your home to build a highway. The idea is to readjust the loan amount to reflect the home’s actual value.
Then, in July, the California legislature took the multi-billion national servicing settlement that five big banks and the state attorneys general worked out and used it to create foreclosure protections that’ll apply only to mortgages on California homes.
The two moves have one thing in common: They sound like good ideas until you realize who’s going to pick up the tab for those changes — mortgage borrowers.
When individual states set mortgage servicing rules instead of following national rules, banks have to spend money to track and follow multiple rules. What’s more, banks make less money from the loans they sell to investors. So if it costs more to lend, bankers will pass on those increased costs to the consumer.
Here’s how it works
Suppose a house is worth $100,000 but has a $200,000 mortgage. Under the seizure gambit, the city would seize the mortgage, pay the investor $100,000 instead of the $200,000 that’s owed, and the home owners would get a new loan for just under $100,000 (because you still have to make a small downpayment). The program would only be used for loans that aren’t guaranteed by Fannie Mae, Freddie Mac, or FHA, which, granted, isn’t the majority of loans.
Catch-22?
On one hand, the eminent domain proposal could help home owners whose loans were seized. If you’re underwater on your mortgage but current on your payments, the city seizes your loan, and gets you a mortgage that better matches the value of your home, you’re more likely to avoid foreclosure. Not to mention that the process helps stabilize neighborhood home values.
But it’s going to cost everyone else who has a mortgage. The investors who made your original home loan will lose a lot of money and won’t want to get burned again. They’ll want more do-re-me for putting their money into mortgages that can be seized. The chain reaction ends with you.
Bottom line: Anyone getting a mortgage to buy a house or refinance an existing loan will have to pay more to compensate investors for that risk.
Put yourself in the investors’ shoes
Would you invest in California or other state mortgages if you’re unlikely to get back the amount you invested? If you do invest, you’ll want a lot more money to cover the risk you’re taking. That means we all face even tighter lending standards and higher downpayments. As it is, credit conditions are still way too tight to meet pent-up market demand.
States really need to back off and let the federal regulators do their jobs. I don’t always agree with everything the feds do, but in recent years, federally guaranteed loans have been about the only mortgage option available to borrowers. It was the feds that managed to keep mortgage money flowing throughout the U.S. during one of the most challenging periods to ever occur in the real estate market.
And sticking with one devil we know is a lot cheaper than dealing with the 50 we don’t know.
What do you think about this seizure strategy? Will it help a few and harm a lot?
.
Tuesday, August 21, 2012
Housing Update from Ashley Garner
One expert's opinion of where we are and what it means for Buyers and Sellers
Housing Update from Ashley Garner
Housing Update from Ashley Garner
Friday, August 17, 2012
Lawn Fire Co. Buffet Breakfast
Sunday 19 August. 7-11 AM
Come join what should be well over a thousand of your fellow motorcyclists for a great breakfast buffet.
5596 Elizabethtown Rd., Lawn, PA 17104
Come join what should be well over a thousand of your fellow motorcyclists for a great breakfast buffet.
5596 Elizabethtown Rd., Lawn, PA 17104
Thursday, August 16, 2012
Last Bike night of the summer at Texas Roadhouse
The last of Velocity Cycle's bike nights will be tonight at the Camp Hill Texas Roadhouse.
Food & drink specials and time to bench ride with other riders
Food & drink specials and time to bench ride with other riders
Tuesday, July 17, 2012
Bike Night at Texas Road House Camp HIll
Bike Night at Texas Road House in Camp Hill for our monthly Bike Nite from 6PM to 8PM Thursday July 19th. This month we arranged for the iWheelie machine to be there. Rides will cost $5 for 2
Friday, June 29, 2012
Wednesday, June 27, 2012
Tuesday, June 12, 2012
New Walmart stores tied to higher home prices, study finds
For those in Lower Allen Township that are fighting so hard to keep Wal Mart out.
New Walmart stores tied to higher home prices, study finds
New Walmart stores tied to higher home prices, study finds
Wednesday, June 6, 2012
Looking for Breakfast Ride this Sunday (10 June)?
For riders looking for a breakfast ride this Sunday try the New Kingstown Fire Department, 277 North Locust Point Road, New Kingstown, PA 17072
They start serving at 6:00 am so you can eat and then have all day to ride.
More info
They start serving at 6:00 am so you can eat and then have all day to ride.
More info
Tuesday, June 5, 2012
Thursday, May 10, 2012
Wednesday, April 25, 2012
Tuesday, April 17, 2012
Thursday, March 1, 2012
Wednesday, February 8, 2012
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