Saturday, November 27, 2010

REALTOR® Magazine-Daily News-3 Reasons to Sell a Home Soon

REALTOR® Magazine-Daily News-3 Reasons to Sell a Home Soon

REALTOR® Magazine-Daily News-7 Trends That Will Drive the Future of Housing

REALTOR® Magazine-Daily News-7 Trends That Will Drive the Future of Housing

HouseMaster eNewsletter - DECORATE SAFELY FOR THE HOLIDAYS

HouseMaster eNewsletter - DECORATE SAFELY FOR THE HOLIDAYS

The Recession is Over!

This Recession Is O-vah!: ‘Zombie Bears’ Edition

November 24, 2010 by Brian Summerfield · 4 Comments
Filed under: Economics 
By Brian Summerfield, Online Editor, REALTOR® Magazine
The latest in a crowd of pronouncements that the recession is officially behind us comes from economic analyst Barry Ritholtz, whose book I reviewed a while ago. Ritholtz, one of the most bearish commentators during the downturn, believes that the economy has finally turned a corner (hooray!), but adds that “zombie bears” who have staked their reputations on the idea that we’re stuck in the doldrums won’t acknowledge it.
Now, calling the end of the recession isn’t exactly a new trend. (In fact, I wrote about it more than a year ago.) But Ritholtz may well be right. I, for one, hope he is. And the chorus he’s joining seems to have gotten much louder in the past few months. (If they’re correct, though, why the need for QE2?)
Here’s the thing, however: Even if they are right, Ritholtz and other economists are speaking about the recession in a very narrow, literal sense. When they say it’s over, what they referring to is a return to a sustained period of growth at the macroeconomic level. They aren’t arguing that economic normalcy for consumers is just a few weeks or months ahead, or that we’ll return to full employment soon, or that housing values will shortly ratchet back up to 2005 levels. Most importantly, it doesn’t mean that continued recovery is a sure thing.
What it could mean, though, is that financial institutions, feeling more secure, will start to lend again. Businesses of all sizes could slowly but surely begin hiring again. And consumers who rightfully put the brakes on spending and began saving at a rate not seen in more than a decade may begin to put some of their accumulated capital toward a home purchase.
In short, it might signify that after searching for a floor during these past couple of years, the economy is finally starting to move in the right direction. That’s something we could all be thankful for.
Editor’s Note: Because of the holiday, there will be no Daily News on Thursday or Friday. Happy Thanksgiving from REALTOR® Magazine!

REALTOR® Magazine-Daily News-FTC Is on the Attack Against Relief Scams

REALTOR® Magazine-Daily News-FTC Is on the Attack Against Relief Scams

REALTOR® Magazine-Daily News-New Lending Guidelines Benefit Young Borrowers

REALTOR® Magazine-Daily News-New Lending Guidelines Benefit Young Borrowers

REALTOR® Magazine-Daily News-Giving Thanks to American Troops, Families

REALTOR® Magazine-Daily News-Giving Thanks to American Troops, Families

Wednesday, November 3, 2010

Be Market-Smart: Dos and Don`ts for Home Sellers and Buyers

By Dan Steward
It would be unrealistic to say that the real estate market is utterly rosy right now, but neither is it thorn-filled by any means. In fact, things are decidedly looking up: July got some good news, when the National Association of Realtors reported that pending home sales rose 5.2% from downwardly revised June levels, beating economists' expectations. This is good news for both buyers and sellers.
While challenges still exist-for instance, getting the best price when selling, or securing financing when buying-there are some once-in-a-lifetime opportunities out there, and plenty of happy results can be had for both buyers and sellers. The key for both groups is to remain flexible, adaptable and diligent. To that end, here are some dos and don'ts for today's buyers and sellers:
For Sellers:
DO'S
Be flexible.
Often it's the little things that push a buyer into the "yes" zone. If the buyer goes on and on about how much they love your icemaker, throw it in. If the closing has to be pushed ahead more than you expected, try to be as flexible as possible and pack the moving van a little quicker.
Clean up. One person's prize doll collection is another person's cluttered nightmare. Similarly, a living room filled with Beanie Babies could elicit a reaction of fear, rather than "Aw, how cute!" from a buyer. Put away any personal collections that not only cause clutter, but also make it hard for a buyer to see the home as his or hers, rather than yours.
DON'TS
Don't be greedy.
The market-not your emotions-dictates your home's price. If comparables in the area, and several trusted real estate agents tell you your home is worth $400,000, you're not fooling anyone by pricing it at $500,000-and you're only doing yourself a disservice. Pricing it at market, even a little below, could generate a bidding war, and ultimately get you more money.
Don't get personal. If you're selling your house for a certain amount, and someone offers something much lower, don't take this as a personal affront and refuse to counteroffer. Letting your emotions get in the way can potentially ruin the deal. What's the harm in making a counteroffer?
Don't procrastinate. In the current climate, you might be scared to try to sell your home, as you may have to face a lower selling price than you may have gotten before the recession. But remember, the house you buy might be even lower, commensurately. It's all relative. So if you're serious about selling, consider doing it now. Also, acting before the cold months come is a good idea, as the winter months are historically harder for home sales.
For Buyers:
DO'S
Get a home inspection.
It's important to hire a trusted home inspector to check out the house's potential issues and problems. Don't skip a home inspection because you're afraid of what you might hear-many issues sound more serious than they actually are, and can be fixed easily. And if something deal-breakingly serious is turned up, as disappointing as that is, it can save years of heartache and financial outlay. Better to walk away from a clunker.
List your place before you look for another. If you're truly serious about looking for a home, list your place first. In the current economy, banks want to make sales as uncomplicated as possible-and contingency sales, which can be very complicated, are often rejected.
Talk before you act. Don't ever start a home search without a firm budget not only in mind, but literally written down. Mutually agree with yourself-or with your partner, if you're buying with someone else-long before you start seriously searching. Going out of that zone because of a place you just "gotta have," or are emotional about, could put you in dire financial straits later. You don't want to buy a house that isn't affordable for you, and then be worried about paying for dinner and a movie on Saturday night.
DON'TS
Don't be a design snob.
If someone's enormous bathroom has wallpaper border containing frolicking kittens and pastel flowers, or a wall that's a nuclear shade of green, we understand this can send you into style shock. But stand fast and ignore bad d?cor. Instead, try to envision the space raw. Besides, you can always redecorate once the home is yours.
Don't make a silly offer. There's nothing wrong with making an offer below asking price-it's no secret that today, many homes are selling for under the asking price. But going 40% below the asking price may anger the seller. Some sellers, especially more emotional ones, won't even bother counter offering an outrageously low offer. Feel free to make a deal-just don't make an offer so low that you'll be kicked off the table.
Copyright© 2010 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.

Assistance Selling Your Home for Military Sellers

If you have been PCSed between July 1, 2006 and September 30, 2010 and are trying to sell your home in this mortgage crisis, review the HAP program. Based out of the Corp of Engineers in Savannah, GA for this zone, you may be eligible to receive Closing Costs (including Realtor Commission ) and the Difference in www.sas.usace.army.mil/hapinv/indexnew.html - Cached

Monday, November 1, 2010

CONSIDERING ENERGY UPGRADES? INVESTIGATE FIRST!

CONSIDERING ENERGY UPGRADES? INVESTIGATE FIRST!

 
There isn’t a shortage of articles and advertisements in newspapers, magazines and on the internet touting the need to replace windows, and heating and air conditioning systems to save energy costs – and get dollars back from rebates or tax credits. Investing in energy saving products for the home is certainly a benefit for the environment, a benefit for the economy, and if done in the right way, a benefit for your own personal comfort and financial well-being.
If you need to replace windows because they are damaged, hard to open and allow wind infiltration and leakage of heated or cooled air from the house, investigating all the options on window types, energy efficiency ratings and replacement costs, and moving ahead with the best option makes sense. If your insulation is the insulation installed when the house was built 40+ years ago, undoubtedly an upgrade is needed and will be worthwhile. Likewise if your heating or air conditioning system is very old or giving you trouble, replacement with a unit with a high energy efficiency rating will be worthwhile – regardless of any manufacturer or tax incentives.
But before falling to the media or manufacturer hype on products or contractor pressure to upgrade simply because your windows or heating unit is not the most efficient one available, there are some things to consider:
  • What is the future life expectancy of the existing equipment? Do you need a new unit now; in a few years; ten years down the road?
  • What is the true cost of the new equipment? Get information on all possible costs. Often a new heating or cooling system will also need accessories such as a new controller or special high-price thermostat.
  • What is the cost of installation? Putting in a new unit means removing and disposing of the old one. Older equipment may contain asbestos or other materials that require special handling and disposal.
  • Does it qualify for rebates, tax credits or other special money savings programs? Look at the details of the various programs. A 1% difference in the energy efficiency rating of an air conditioner may mean the difference between a $1500 tax credit and no tax credit.
  • What will the actual energy savings be? Many energy upgrades, particularly windows or high-priced heating or cooling equipment, may not provide a return for 10 or more years.
  • Will there be a comfort benefit or aesthetic benefit?
  • Are there lower cost alternatives that will save energy?
  • Will there be consequential effects? Will a new system have a detrimental effect on an old chimney? Get answers from a qualified contractor or the manufacturer.
  • Can you do it yourself. Installing windows and heating or cooling equipment is not for the average homeowner; however, with a little attention to the basics of enveloping the conditioned areas of a house with a blanket of insulation, most reasonably handy homeowners can tackle many insulation and weatherstripping projects.


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Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. More home safety and maintenance information is available online at http://www.housemaster.com/.
Copyright ©  DBR Franchising, LLC

FALL MAINTENANCE CHECKLIST

FALL MAINTENANCE CHECKLIST

 
Fall

Many areas have already had a taste of fall weather, and it’s not far behind for most others. Now is the time to make sure your house and heating system are ready for winter. Here is a brief checklist to guide you through some basic tasks before real cold weather setles in and it is too late:
GROUNDS
  • Check window wells, dry wells and storm drains for debris or blockage.
  • Repair any driveway cracks and/or heaved or settled walkways.
  • Trim all trees and shrubs that are too close to the house.
  • Check (ideally during a rainstorm) for rainwater drainage away from thefoundation.
  • Clean and put summer furnishings away.
  • Drain and store garden hoses.
EXTERIOR SURFACES
  • Check weathertightness of all exterior surfaces and components.
  • Check for deterioration of painted or finished areas. If too late for a full paint job, prime and touch-up bare wood surfaces.
  • Caulk and seal all joints in siding, around windows and doors.
  • Check and seal any foundation cracks.
  • Improve weatherstripping at exterior doors and windows as needed.
  • Reset storms and screens where required.
  • Look for any signs of insect or pest activity around the foundation and at wood components close to the ground.
ROOF (Use binoculars or hire a professional.)
  • Check for loose, damaged or missing roofing.
  • Check eave areas for signs of moisture build-up or damage.
  • Check the condition of chimneys.
  • Check flashings for signs of lifting or damage and repair as needed.
  • Check and clean all gutters (eavestroughs) and downspouts.
ATTIC
  • Check ventilation openings for nests or other blockage.
  • Check the position and condition of insulation for uniform coverage.
  • Look for any signs of excessive moisture or heat buildup.
INTERIOR ROOMS
  • Check all areas for signs of roof or plumbing leakage.
  • Have any fireplaces or wood stoves and flues checked and professionally cleaned.
  • Reset automatic timers for the change in daylight hours.
  • Check all smoke/carbon monoxide detectors. Replace batteries if over a year old.
  • Test Ground-Fault Circuit-Interrupters (GFCI’s) using built-in test buttons.
HEATING/COOLING SYSTEMS
  • Clean all elements of the cooling system.
  • Remove (or winterize) room air conditioners.
  • Follow manufacturer instructions for the maintenance of your heating system.
  • Change or clean heating system filters on warm air systems (now and regularly).
  • Check heating and cooling systems for any evidence of water leaks.
  • If present, clean and test the humidifier.
  • Have your heating system serviced annually by a qualified heating serviceperson before the heating season to keep it functioning efficiently and properly.
PLUMBING
  • Drain exterior water lines and open taps (in cold areas).
  • Insulate water lines that are subject to freezing.
  • Check the condition and temperature setting of the water heater. Follow the manufacturer’s recommendations for the temperature setting.
  • Check the plumbing system and fixtures for any evidence of water leaks or blocked drains.
  • Confirm proper operation of any sump pumps and free flow of the drain line.


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Remember, these tips are only general guidelines. Since each situation is different, contact a professional if you have questions about a specific issue. More home safety and maintenance information is available online at http://www.housemaster.com/.
Copyright ©  DBR Franchising, LLC