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
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