Check Out these Helpful Home Maintenance Tips for Spring

10 home maintenance tips for spring

by Paul Bianchina Fri, Apr 6, 2012

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When was the last time you checked your foundation vents?The sun is peeking out and the plants are starting to blossom, so it must be about time for spring chores again. Here's my annual spring checklist of important issues to tend to around the house.
1. Roofing repairs: If you suspect winter storms may have damaged your roof, it needs to be inspected. (If you're not comfortable with the height or steepness of your roof, hire a licensed roofing contractor for the inspection.) Look for missing or loose shingles, including ridge-cap shingles.
Examine the condition of the flashings around chimneys, flue pipes, vent caps, and anyplace where the roof and walls intersect. Look for overhanging trees that could damage the roof in a wind storm, as well as buildups of leaves and other debris.
If you have roof damage in a number of areas, or if older shingles makes patching impractical, consider having the entire roof redone. Also, remember that if the shingles have been damaged by wind or by impact from falling tree limbs, the damage may be covered by your homeowners insurance.
2. Check gutters and downspouts: Look for areas where the fasteners may have pulled loose, and for any sags in the gutter run. Also, check for water stains that may indicate joints that have worked loose and are leaking. Clean leaves and debris to be ready for spring and summer rains.
3. Fences and gates: Fence posts are especially susceptible to groundwater saturation, and will loosen up and tilt if the soil around them gets soaked too deeply. Check fence posts in various areas by wiggling them to see how solidly embedded they are.
If any are loose, wait until the surrounding soil has dried out, then excavate around the bottom of the posts and pour additional concrete to stabilize them. Replace any posts that have rotted.
4. Clear yard debris: Inspect landscaping for damage, especially trees. If you see any cracked, leaning or otherwise dangerous conditions with any of your trees, have a licensed, insured tree company inspect and trim or remove them as needed.
Clean up leaves, needles, small limbs and other material that has accumulated. Do any spring pruning that's necessary. Remove and dispose of all dead plant material so it won't become a fire hazard as it dries.
5. Fans and air conditioners: Clean and check the operation of cooling fans, air conditioners and whole-house fans. Shut the power to the fan, remove the cover and wash with mild soapy water, then clean out dust from inside the fan with a shop vacuum -- do not operate the fan with the cover removed.
Check outdoor central air conditioning units for damage or debris buildup, and clean or replace any filters. Check the roof or wall caps where the fan ducts terminate to make sure they are undamaged and well sealed. Check dampers for smooth operation.
6. Check and adjust sprinklers: Run each set of in-ground sprinklers through a cycle, and watch how and where the water is hitting. Adjust or replace any sprinklers that are hitting your siding, washing out loose soil areas, spraying over foundation vents, or in any other way wetting areas on and around your house that shouldn't be getting wet.
7. Check vent blocks and faucet covers: As soon as you're comfortable that the danger of winter freezing is over, remove foundation vent blocks or open vent covers to allow air circulation in the crawl space.
While removing the vent covers, check the grade level around the foundation vents. Winter weather can move soil and create buildups or grade problems that will allow groundwater to drain through the vents into the crawl space, so regrade as necessary. Remove outdoor faucet covers. Turn on the water supply to outdoor faucets if it's been shut off.
8. Prepare yard tools: Replace broken or damaged handles, and clean and condition metal parts. Tighten fittings and fasteners, sharpen cutting tools and mower blades, and service engines and belts in lawn mowers and other power equipment.
9. Change furnace filters: Now is the time to replace furnace filters that have become choked with dust from the winter heating season. This is especially important if you have central air conditioning, or if you utilize your heating system's fan to circulate air during the summer.
10. Check smoke detectors: Daylight Savings Time snuck up early again this year, and that's usually the semi-annual reminder to check your smoke alarms. So if you haven't already done it, now's the time. Replace the batteries, clean the covers, and test the detector's operation before it's too late.
If you have gas-fired appliances in the house, add a carbon monoxide detector as well (or check the operation of your existing one). CO2 detectors are inexpensive and easy to install, and are available at most home centers and other retailers of electrical parts and supplies.
Remodeling and repair questions? Email Paul at paulbianchina@inman.com . All product reviews are based on the author's actual testing of free review samples provided by the manufacturers.
Contact Paul Bianchina: Email Letter to the Editor Copyright 2012 Paul Bianchina

Costco Now Sells Mortgages?

Costco Sells Mortgages to Shoppers

Daily Real Estate News | Thursday, April 26, 2012

Add to your shopping list: Get a mortgage.
Costco shoppers will now find that they not only can buy their groceries in bulk at the warehouse retailer, but they can also shop for a mortgage too.
Costco announced that it will offer a full-service mortgage lending program on its Web site with First Choice Bank and 10 other lenders. The site gathers quotes from various lenders.
The warehouse retailer has been testing out offering mortgages for a year in some of its locations. Its lending partners have issued more than 10,000 mortgages to Costco members so far.
"I went in to buy some bottled water, big bags of chips, cereal, and some Nutri-Grain bars that I eat on my route," one Georgia shopper told CNNMoney. "I saw a home loan brochure on my way out and picked it up."
The shopper said he went onto the Costco site and was able to get mortgage rates from four lenders, as well as estimated closing costs and terms. He was able to refinance his mortgage and lower his monthly payments by $500 per month.
"We've always known that our members wanted more financial services," says Lauren Kutschka, Costco's manager of financial services, who adds the warehouse retailer also offers health and auto insurance and stock brokerage services. Costco next plans to add auto and student loans to its mix.
Source: “Now on Sale at Costco: Mortgages,” CNNMoney (April 26, 2012)

Is a Garage a Deal Breaker for You?

Is a Garage a Deal Breaker?

Garages are becoming more important, as evidenced by the rising demand for more space and amenities in this part of a property. But many homes don’t even have one. How crucial is a garage for today’s demanding buyers?

April 2012 | By Barbara Ballinger

Home owner Carol Meerschaert had three criteria when she bought her house in Paoli, Pa., four year ago: central air conditioning, a master bathroom, and a garage.
“I was commuting by train to Philadelphia and purposely bought in a town where I could walk to most places: a bank, post office, and several restaurants, but there was no way I ever would get into a boiling hot car in the summer or a snow-covered car in the winter. I needed a garage,” she says.
And the single-car garage that’s part of her ranch-style house has suited her quite nicely, says Meerschaert, director of marketing and communications at the Healthcare Businesswomen’s Association, a nonprofit leadership association, in Fairfield, N.J.
Other home buyers feel similarly about the importance of a garage. So, will the absence of one stymie a deal? Many older or smaller homes, as well as homes in the entry price range and even those in certain warm climates, may not have one. Or they may just have a carport with a roof but no garage door.
There’s a second key question to ponder. Should sellers of houses without a garage construct one to compete when there’s so much inventory on the market?
In both cases, there’s no definitive answer since the importance of a garage hinges on so many factors, including a home’s overall value, whether other houses in the same neighborhood have one, and the area’s climate.
Saleswoman Peggy Patenaude, with Prudential Howe & Doherty, REALTORS®, in Andover, Mass., a Boston suburb, thinks a garage definitely increases the value of a property if it’s in a mid-level or higher price range and in a cold climate. Moreover, if a home doesn’t have one, it may prove a deal breaker, she says. “I think a two-car attached or detached garage can add $30,000 to a home’s value; a one-car attached or detached garage may increase it by $15,000 to $20,000,” she says.
Real estate investor and author Grant Cardone, whose eponymous company is based in Los Angeles, thinks having a garage is especially critical in this turbulent real estate market. Yet, he’ll consider buying a house as an investment if it doesn’t have a garage, as long as there’s room to add it. “It was different four years ago because there was so much less inventory,” he says.
But Cardone also believes that the investment is a good one. “The average two-car garage will return the investment two to two-and-a-half times. It doesn’t mean you have to have one with polished or painted floors and other fancy amenities, but it does have to be clean and roomy. Adding some extra square footage doesn’t cost that much more with this type of construction,” he says.
Patenaude also recommends always including an electric door opener and, if possible, designing the garage so it’s located on the side of a house with enough turnaround room rather than having it face the street, which is less visually attractive, she says.
Chicago architect Allan J. Grant thinks that a typical two-car garage should be at least 20 feet wide — 24 feet is optimal — and at least 22 to 25 feet deep. A single-car garage should be a minimum of 10 feet wide. He adds that making it slightly roomier allows for storage space for bicycles, garden equipment, outdoor furniture, and other “stuff” without much extra expense. Plumbing, electrical outlets and circuits, and a roof structure being expanded and enhanced to run air ducts for future heating and cooling all would increase the construction cost, but would permit converting the garage to a habitable room, if desired.
Grant also advises designing a garage to match a home’s exterior materials and roofline, which may bump up the cost more. “If you’re using brick, expensive wood, or stone for the facade and slate for the roof, you could easily double the $25,000 to $30,00 cost for materials and labor for a two-car garage, but if you go with more basic framing and asphalt roof shingles, the cost will be far less,” he says.
Besides the dollar consideration, sellers need to weigh the time frame, since building on requires checking local zoning ordinances regarding how big it can be and if there’s room due to setback rules. “Getting approval and construction take time,” Grant says.
Patenaude agrees. “By the time sellers usually are ready to list their home, many aren’t interested in investing that kind of money or in the wait. It’s better to price the house according to what it has — and doesn’t have,” she says.

Buying Your First Home

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Finding the right first home starts with a price range and a short list of desirable neighborhoods. But there are many other factors you'll need to consider before investing in what may be your biggest asset.

Before You Start:

• Grab your current household budget so you can consider your financial situation and your ability to make mortgage payments.
• Ask family and friends if they can recommend experts, like a lawyer and an inspector, who can help with the home buying process.
• Think about your lifestyle and how it might affect your choice of home and neighborhood.
• Do a little research on current home prices in the neighborhoods you plan to target.

Buying Your First Home

Home ownership is the cornerstone of the American Dream. But before you start looking, there are a number of things you need to consider. First, you should determine what your needs are and whether owning your own home will meet those needs. Do you picture yourself mowing the lawn on Saturday, or leaving your urban condo for the beach? The best advice is to look at buying a home as a lifestyle investment, and only secondly as a financial investment.
Even if housing prices don't continue to increase at the torrid pace seen in recent years in many areas, buying a home can be a good financial investment. Making mortgage payments forces you to save, and after 15 to 30 years you will own a substantial asset that can be converted into cash to help fund retirement or a child's education. There are also tax benefits.
Like many other investments, however, real estate prices can fluctuate considerably. If you aren't ready to settle down in one spot for a few years, you probably should defer buying a home until you are. If you are ready to take the plunge, you'll need to determine how much you can spend and where you want to live.

How Much Mortgage Can You Afford?

Many mortgages today are being resold in the secondary markets. The Federal National Mortgage Association (Fannie Mae) is a government-sponsored organization that purchases mortgages from lenders and sells them to investors. Mortgages that conform to Fannie Mae's standards may carry lower interest rates or smaller down payments. To qualify, the mortgage borrower needs to meet two ratio requirements that are industry standards.
The housing expense ratio compares basic monthly housing costs to the buyer's gross (before taxes and other deductions) monthly income. Basic costs include monthly mortgage, insurance, and property taxes. Income includes any steady cash flow, including salary, self-employment income, pensions, child support, or alimony payments. For a conventional loan, your monthly housing cost should not exceed 28 percent of your monthly gross income.
The total obligations to income ratio is the percentage of all income required to service your total monthly payments. Monthly payments on student loans, installment loans, and credit card balances older than 10 months are added to basic housing costs and then divided by gross income. Your total monthly debt payments, including basic housing costs, should not exceed 36 percent.
Many home buyers choose to arrange financing before shopping for a home and most lenders will "pre-qualify" you for a certain amount. Prequalification helps you focus on homes you can afford. It also makes you a more attractive buyer and can help you negotiate a lower purchase price. Nothing is more disheartening for buyers or sellers than a deal that falls through due to a lack of financing.
In addition to qualifying for a mortgage, you will probably need a down payment. The 28 percent to 36 percent debt ratios assume a 10 percent down payment. In practice, down payment requirements vary from more than 20 percent to as low as 0 percent for some Veterans Administration (VA) loans. Down payments greater than 20 percent generally buy a better rate. Lowering the down payment increases leverage (the opportunity to make a profit using borrowed money) but also increases monthly payments.

How Much Home Can You Afford?

Bob and Janet's combined income is $50,000 a year, or $4,166 a month. Their housing expense ratio of 28 percent yields a monthly maximum of $1,166 for mortgage, insurance, and taxes ($4,166 x 0.28 = $1,166).
Their total debt ceiling of 36 percent is $1,583 (4,166 x 0.36 = $1,500). Their monthly debt payments include a $200 car payment, credit card payments of $100, and student loan payments of $200. Subtracting this total of $500 from the $1,500 permitted leaves $1,000 in monthly housing payments.

Costs of Buying a Home

Many home buyers are surprised (shocked might be a better word) to find that a down payment is not the only cash requirement. A home inspection can cost $200 or more. Closing costs may include loan origination fees, up-front "points" (prepaid interest), application fees, appraisal fee, survey, title search and title insurance, first month's homeowners insurance, recording fees and attorney's fees. In many locales, transfer taxes are assessed. Finally, adjustments for heating oil or property taxes already paid by the sellers will be included in your final costs. All this will probably add up to be between 3 percent and 8 percent of your purchase price.

Ongoing Costs

In addition to mortgage payments, there are other costs associated with home ownership. Utilities, heat, property taxes, repairs, insurance, services such as trash or snow removal, landscaping, assessments, and replacement of appliances are the major costs incurred. Make sure you understand how much you are willing and able to spend on such items.
Condominiums may not have the same costs as a house, but they do have association fees. Older homes are often less expensive to buy, but repairs may be greater than those in a newer home. When looking for a home, be sure to check the actual expenses of the previous owners, or expenses for a comparable home in the neighborhood.

Choosing a Neighborhood

Before you start looking at homes, look at neighborhoods. Schools and other services play a large part in making a neighborhood attractive. Even if you don't have children, your future buyer may. Crime rates, taxes, transportation, and town services are other things to look at. Finally, learn the local zoning laws. A new pizza shop next door might alter your property's future value. On the other hand, you may want to run a business out of your home.
Look for a neighborhood where prices are increasing. As the prices of the better homes increase, values of the lesser homes may rise as well. If you find a less expensive home in a good neighborhood, make sure you factor in the cost of repairs or upgrades that such a house may need.

Finding a Broker

If you are a first-time home buyer, you will probably want to work with a broker. Brokers know the market and can be a valuable source of information concerning the home buying process. Ask lots of questions, but remember that most brokers are working for the seller, and in the end, their primary obligation is to the seller and not to you. An alternative is a so-called buyer's broker. This individual does work for you, and therefore is paid by you. Seller's brokers are paid by the seller.
Make sure that the broker has access to the Multiple Listing Service (MLS). This service lists all the properties for sale by most major brokers across the country. Brokerage commissions average 5 percent to 7 percent and are split between the listing broker and the broker that eventually sells the home. Don't be surprised if your broker is eager to sell you their own listing since they would then earn the entire commission.

Home Buying Costs

Down Payment	0% - 20% of purchase price
Home Inspection	$200 - $500
Points	$1,000 and up for 1% - 3%
Adjustments	3% - 8% of purchase price

Once you've determined a price range and location, you're ready to look at individual homes. Remember that much of a home's value is derived from the values of those surrounding it. Since the average residency in a house is seven years, consider the qualities that will be attractive to future buyers as well as those attractive to you.
Although it can be difficult, try to remember that you will probably want to sell this home someday. The more research you do today, the better your decision will look in the years to come.

Summary:

• Buying a home can mean building significant value through the years.
• Think carefully about how much you can afford to spend and consider borrowing guidelines like those used by Fannie Mae.
• Pre-qualifying with your lender is a good way to determine how much house you can afford.
• You will need cash for a down payment and closing costs. Generally speaking, the higher the down payment, the lower the interest rate and monthly mortgage payment.
• In addition to your mortgage payments, you will also need to consider the other costs of home ownership.
• Schools, taxes, services, crime rates, transportation, and zoning are important considerations when selecting a neighborhood.
• Brokers usually represent the seller, but they can be valuable sources of information for buyers as well. A broker that belongs to the Multiple Listing Service will be able to offer a wider variety of homes to choose from.
• Remember to consider resale value when buying your home.

Simple Solutions to Common Door Issues

DAILY REAL ESTATE NEWS April 18, 2012

7 easy fixes for common door problems When planing a door, time of year matters By Paul Bianchina Inman News® Share This If you have some doors around your house that aren't working quite right, don't despair. There are a number of quick and easy fixes that will take care of whatever's sticking, squeaking, swinging or otherwise ailing your doors. The door binds in the upper corner of the jamb: This is a common complaint, since the weight of the door wants to pull it down at an angle from the top corner, opposite the upper hinge. This causes the door to bind against the jamb in that corner. To fix it, remove one or two of the screws that hold the hinge to the jamb. Replace these screws with new ones that are long enough to reach all the way through the jamb and into the stud behind the jamb; predrill new pilot holes through the existing holes in the jamb to make it easier to drive the screws. These new, longer screws will pull the jamb back up against the stud and take the angle out of the door frame, relieving that pinch point in the corner. The door binds against other parts of the jamb: First of all, ask yourself when this started happening. Is it only in the winter? If so, it's probably due to seasonal swelling, which happens when the wood absorbs moisture from the air. Check to see if the door is being directly exposed to moisture, such as a drip from a leaky gutter, or perhaps it's constantly shaded by overhanging trees and rarely dries. If you can identify the cause of the seasonal moisture, correct it. Be careful about planing a door during the winter: When it dries out again, it'll be undersized for the opening. If the binding isn't seasonal, look for stress cracks in the drywall or moldings around the door. This can indicate settling issues, which may be caused by shifts in the home's foundation, or simple drying of the wood framing, especially in newer homes. If the settling doesn't continue and the binding doesn't worsen, you can relieve the bound area by tapping against the frame with a hammer and a block of wood, or by removing the door from its hinges and planing it a little. If the settling is worsening, consult with a contractor or structural engineer. Door won't stay latched: If the door won't stay latched, or if it needs to be pushed hard to get it to latch into the strike plate, first look at the way the door is fitting in the jamb. If you see that it appears to be leaning down at the upper corner, try installing longer screws as described above. Otherwise, it's a matter of readjusting the strike plate. Site the latch to see where it's hitting the strike plate, to try to determine if the plate needs to move up or down. If necessary, try coating the latch with lipstick or crayon and then closing the door -- the resulting marks on the strike plate will help indicate where it's hitting. If only a small adjustment is needed, try grinding the opening in the strike plate to make it larger as needed. Use a small file or a rotary tool with a metal grinding bit. If a larger adjustment is needed, unscrew and remove the strike plate, then reposition it on the jamb and reinstall it. You may need to chisel the jamb slightly to accept the plate in its new position. Screws are coming out: If the screws that hold the hinges are coming out of the jamb, or you've had to reposition the strike plate and the screws want to go back into the old holes, you need to create new wood for the screws to grab into. This is easily done by drilling out the old screw holes to the size of a standard hardwood dowel, typically 3/8 inch. Apply glue to the dowel, insert it into the hole, allow it to dry, then cut it off flush with the surrounding surface. Drill a new pilot hole into the dowel, and reinsert the screws. Door swings and won't stay open: This is caused by a door that's out of plumb in its opening. To correct it, you need to insert a small amount of shim between the back of the hinge and the door jamb -- usually the bottom hinge. To do that, loosen the hinge screws almost all the way, so that you have some play between the hinge and the jamb. Insert a piece of wooden shim or other material, such as small pieces of plastic laminate, behind the hinge, then retighten the screws. You may need to adjust the amount of shim to get the door to swing correctly, and you may also need to add a small amount of shim to the center hinge as well. The door latch hits the strike plate: This is caused by a strike cylinder that's worked loose, or by a loose doorknob. If the strike cylinder that goes into the edge of the door is held in place with a small rectangular plate and two screws, first try tightening the screws. If they'll tighten and hold OK, that will pull the cylinder back into the door and hold it. If the screws won't hold, then you'll need to install dowels as described above. Many newer doors have strike cylinders that are drive-in, meaning they're held in place by a friction fit in the hole that's drilled in the edge of the door, rather than by screws. They're also held by tension on the doorknob, which is what the strike cylinder is connected to. First, loosen the screws holding the doorknob, so that you have a little play in the knob. Set a block of wood against the strike cylinder, and tap it with a hammer to drive it back into the door until it's flush with the door's edge. Finally, securely tighten the doorknob's screws to hold the knob and cylinder in place. The door hits the wall: You need a door stop. There are three types of door stops available, depending on the situation. The simplest is a solid or flexible stop with a screw on one end and a rubber cap on the other, which is screwed into a pilot hole that's drilled into the door or into the baseboard. Another style is a hinge stop, which is used when you want to stop the door before it can open far enough to contact a stop on a wall. To install this type of stop, remove the top or center hinge pin, slip it through the hinge stop, then reinstall the pin in the hinge. The hinge stop has an adjustable rod that screws in and out to contact the door at different points, allowing you to stop the door's swing exactly where you want it. The third type is called a floor stop. Floor stops are attached directly to the floor, and are the strongest of all the stops, making them especially well suited for commercial applications. On the downside, because they sit directly on the floor, they can sometimes be in the way. Floor stops typically have a long pin that fits into a predrilled hole in the floor for strength, along with a screw that secures it to the floor. Remodeling and repair questions? Email Paul at paulbianchina@inman.com. All product reviews are based on the author's actual testing of free review samples provided by the manufacturers. Contact Paul Bianchina: Email Letter to the Editor Copyright 2012 Paul Bianchina

5 Hot Design Trends in New Homes!

http://styledstagedsold.blogs.realtor.org/2012/04/09/5-hot-design-trends-in-new-homes/