Real Estate Information

By Paige Tepping

In a tough real estate market where competition for buyers is high, sometimes the seller has to ‘sweeten the pot’ to get the deal done. Here are five creative ideas from Realtor Vicki Walker to help close the deal.

1. Offer a Decorating Allowance
There may be a buyer that likes your home but just has different decorating tastes. To seal the deal, offer a decorating allowance (for painting, new carpets or wallpaper). You can offer cash at closing, or put money in escrow to reimburse decorating and remodeling expenses made within 90 days of closing, up to a maximum amount.

2. Do a Pre-Sale Inspection
This actually works for both the seller and the buyer. By having a whole house inspection done before listing the house, you get a chance to address any issues before prospects see the home. That means you increase the homes saleability. Display the report during open houses and highlight the repairs that have already been addressed. It's like seeing the repair history when you buy a used car; it makes you feel better about making an offer because you know the car is in good shape and exactly what has been repaired in the past. By having the home inspected before listing it, people don't have to guess what kind of condition it is in, they can see it in writing.

3. Offer a Home Warranty
A home warranty reassures the buyer that the property is in top condition and gives them comfort knowing that certain future repairs will be covered by insurance. Buyers fear that as soon as they buy the house the dishwasher, dryer, or stove will go on the fritz. A home warranty is an inexpensive way to offer peace of mind to the buyer.

4. Cover Closing Costs
Sometimes it takes a little nudge to close the deal. You can offer to pay the buyers half of title and escrow fees, or pre-paid interest charges. Paying the points on the loan may also be a tax deduction for you. Many lenders may limit how much of the closing costs you can pay, but if the buyer is short of cash, offering to pay some closing costs can make a difference.

5. Offer Seller Financing
There are many ways to offer seller financing. Options include putting funds in escrow to cover several months of mortgage payments, buying down the mortgage rate, or carrying a second mortgage to cover the down payment. It is wise not to offer seller financing unless you have consulted a real estate attorney and your real estate agent. Make sure that the buyer has good credit. Although this is the least attractive option to the seller to get a deal closed, sometimes it takes creativity and going the extra mile to get your home sold.

Source:  RIS Media & Lowe's

Turning down the thermostat and switching to compact fluorescent bulbs are easy but common ways to make your home greener. Here are a few additional greening tips and tricks that may have never crossed your mind.

    Over the top. A refrigerator with a freezer on top uses 10 percent to 25 percent less energy than one with a side-by-side or bottom-mounted freezer.

    Power up. Plug appliances and electronics into a power strip rather than an outlet. Devices plugged directly into the wall leak up to 15 watts of electricity even if they’re shut off.

    Dish it out. Hand-washing dishes might seem better for Mother Earth than using the dishwasher, but it’s actually more wasteful You’ll use up to 35 percent less water by filling up the dishwasher with dishes that aren’t pre-rinsed instead of washing by hand. You can also conserve energy by skipping the dry cycle — just open the dishwasher’s door when the cycle is done to air dry.

    Don’t tank. Invest in a tankless water heater that will heat water instantly on an as-needed basis, instead of one that must constantly keep your water warm. They can be expensive—prices range from just under $200 to more than $1,000—but it will help reduce energy costs in the long run and reduce water loss. Don’t want to buy one? Be sure to insulate your pipes for a good reduction in heat loss.

By Stephanie Andre

Wow, it's hot outside! The summer's in full swing with no signs of cooling. And while you may be tempted to crank up the A/C, remember - you won't be nearly as excited to see that electric bill next month.

To save some money -- and, don't forget, energy! -- here are six tips that might just help.

1. Avoid heat build-up in your home – The best way to keep your home cool is to keep the heat out. This can be done by closing the drapes on windows facing the sun (east-facing windows in the morning and west-facing windows in the afternoon). You should also try to avoid heat-generating activities, such as cooking, on hot days or during the hottest part of the day. If you are cooking, use your range fan to vent the hot air out of your house. By reducing the amount of heat in your home, you will have to use less energy to cool it.

2. Use ventilation and circulation to cool your home – Instead of automatically turning on the air conditioner on hot days, try cooling your home with window and ceiling fans. Circulating air can make your home feel cool and comfortable in a much more efficient way than air conditioning. There is also the option of a whole house fan (a large ventilating fan installed in you attic that expels hot air out of your home) which can circulate air throughout your entire home.

3. Keep air conditioning efficient and to a minimum – When you do have to use air conditioning, there are ways to make it more efficient. First of all, turn up the temperature setting on your air conditioner by a couple of degrees. Most people keep the temperature setting lower than it needs to be, hence using more energy than is needed to keep your home cool. It is recommended that you keep the temperature at about 25° C (77° F). Also, remember to turn off your air conditioner once your home has reached a comfortable temperature. By coupling minimum air conditioning with reducing the amount of heat entering your home, you can keep it cool without using excess energy. It isn’t recommended that you leave your air conditioner on when you leave your house, but if you’re going to do so, turn the temperature setting up a few more degrees while you’re gone to about 28° C (82° F). Also, remember to turn off your air conditioner if you’re going to be away from your home for more than a day. It is also important to make sure your cooling vents aren’t blocked so that the energy being used is going towards actually cooling your home and not being wasted. Furthermore, keep rooms that don't need cooling, such as closets, closed off when you're air conditioning.

4. Make sure your home isn’t losing cool air – By weather-stripping and caulking around windows, doors and electrical outlets on outer walls, you can prevent losing cool air from your home and prevent hot air from getting in. Improve your home’s insulation on outer walls, again to keep cool air in, and hot air out. You should also consider installing storm doors for the same reasons if your home doesn’t already have them. If you have a fireplace, keep the flue closed. These provide an extra barrier against the escape of cool air. All of these options will make cooling your home more efficient and will save you money on your energy bill.

5. Select energy-efficient cooling systems – If you’re in the market for a new cooling system, there are many new technologies that are much more efficient than older versions. As with other appliances, you should look for the Energy Star logo and compare the amount of electricity each uses.

6. Use the coolest parts of your home – On hot days, parts of your house will naturally stay cooler than others. For example, if you have a basement it will remain cool even during the hottest part of the day (this is because the cool air in your home will sink down to your basement). One way you can reduce the amount of energy used to cool your home is to do more in cooler areas of your home. This way, you won't have to use energy to stay cool.

Source:  RISMEDIA & Lowe's

It's almost time to send your children back to school, and some parents may be breathing a sigh of relief after the long summer. But before you pack the kids up and rush them out the door, there are a few things to keep in mind regarding their wellbeing. Universal Services of America gives you the following tips to help ensure the safety of your little ones, as you send them off to tackle another school year.

-- Walking to and from school: map out the route your child will take and know who lives along it. While you don't have to know every homeowner, it is important you research for any possible sexual predators that may live in the area. Also advise your children to stay on the preselected path and avoid any parks, alleys, fields, etc., where there aren't a lot of people around. Find out beforehand if there will be crossing guards at the intersections, and arrange for neighborhood children to walk together. Ensure your child knows their address and phone number.

-- Riding a bike or scooter: make sure they know and obey the traffic laws and wear proper safety equipment. Bike helmets, sturdy shoes and a backpack that isn't overloaded will all help make the trip easier and safer for your little one.

-- If you plan on driving your child to school, make sure you see them enter the school yard or building before you leave.

-- If your child will be taking the bus, instruct them to arrive at the stop early, stay out of the street while waiting and always keep themselves visible to the bus driver.


Souce:  RISMedia/Lowe's

    When life gets hectic, you might find yourself daydreaming of calming tropical beaches, but unfortunately, sometimes it’s just not that easy to get away. That’s why it’s important to create a no-frills retreat in the most accessible place, no passport required: your home.

    About.com suggests finding a quiet corner to designate as your in-house oasis. Even if it’s not an entire room, be sure your in-house oasis has a different feel than the rest of the house. (If it’s just a section of a room, invest in a lightweight screen to separate it from the rest of the area.) Make sure it’s away from technology, including telephones, computers or the television. (And resist the urge to check work e-mail or bring your BlackBerry.)

    Add to the relaxing ambiance by painting the walls a soothing color.

    Experts recommend pale blues and greens or neutrals such as taupe, beige or brown. Avoid jarring, energetic shades such as bright yellows or reds. If you do add color, keep it monochromatic so vivid contrasts aren’t distracting.

    Next, get rid of clutter. Then set up a big, comfy armchair and a small table that’s just big enough for a steaming mug of tea, perhaps a plate of food and a lamp. Less is more when decorating for stress relief. Add serene family photos to the walls so you’ll be surrounded by the ones you love, and consider placing candles in the area.

    Choose scents such as lavender, sandalwood or sage, which can have a calming effect on the mind and body.

    In sometimes-complicated relationships between residents and their condo or homeowner associations, neighborly love can go only so far. When it comes to association decorum, the more you know about the CC&Rs (covenants, conditions and restrictions), the better. It’s the homeowner’s job to reinforce these governing rules and regulations, which can easily pit residents against association members. Here are a few hot-button issues that, according to Realty Times and Condobenefits.com, are important to keep in mind:

    Pets. Many condominiums restrict the permitted size and number of pets, if they allow them at all. Check in with the head of the association before bringing any four-legged friends home, and take note of any restrictions — such as the proper way to clean up after your pets and whether they’re allowed to stay outside for any period of time.

    Parking. Take note that beyond your four walls, the land is not all yours — including your driveway. What are the parking restrictions for residents? For guests? Have the conversation before guests arrive to ensure that vehicles are out of fellow residents’ way. Keep in mind that many condos limit the number of cars to reflect the number of residents in the home.

    Maintenance. There are two areas to consider: What does the association take care of, and what are your responsibilities? Typically, condo owners can rely on workers hired through the condo association to help maintain the exterior of their home, including painting, roof repairs, lawn maintenance and trash collection. But depending on association rules, sweeping your porch by Tuesday afternoon each week or setting the trash on the curb (not the end of your driveway) before Monday morning might be mandatory. Find out the specifics to avoid future headaches.

    Fees. All associations have monthly or annual fees that residents must pay, but dig a little deeper and find out what happens if you accidentally break a rule. The last surprise you want is a letter stuck to your door telling you to pay up or risk eviction. Additionally, keep in mind if your building is due for a code    upgrade — every five, 10 or 20 years, condo associations can charge residents large fees written into the minutiae of the CC&Rs.

Homeowners across the country are continually striving toward a more eco-friendly lifestyle. While homeowners may not know where to start, there are small steps that can be taken that can add up to make a big difference.

The experts at OurGreenerLife.com offer the following tips to help you lessen your eco footprint.

1. Use less water
Saving water is all about small steps. Here are a few simple ways that will help you conserve water while saving money.

-Shut off the water while you brush your teeth
-Take showers that are a minute or two shorter
-Only run full loads of laundry and dishes
-Buy from sustainable producers. These are farmers, ranchers and other producers that use techniques that pollute less and use less water. You can do some research online or ask at your local organic market to find these products.

2. Use less energy
If you don’t have the money to buy a hybrid car or convert your house to solar power, you can make a big difference with the following small changes.

-Buy energy efficient appliances. They may be more expensive, but make up for the increased cost in lower energy bills.
-Unplug chargers when you’re not using them. Cell phone and other chargers use up power even if there’s nothing attached to them.
-Put devices with remotes, like TVs, VCRs and stereos on a power strip and turn the power strip off when you’re not using the devices. These gadgets use a lot of power to run the remote receiver even when the device is off.
-Walk or ride your bicycle for short trips.
-Buy local products. It takes energy to transport food and other products across the country. Buying local not only supports your local economy, it helps them use less energy.
-When it comes to saving energy and water, it’s a great idea to get the kids involved—you can even make it a game. Have them track how much water and electricity everyone is using and compete to see who uses the least.

3. Reuse
Most of us know the three R’s: reduce, reuse, recycle, but when we work on conserving, we often leave reuse out of the picture. While you can often find tips on how to reuse common products from other people, what you need most is creativity. With a little thought, there are many items around your home that can be reused—toilet paper holders can be used to sow seeds for the vegetable patch, old yogurt containers can be cut into strips to make plant labels and old food jars can be refilled with homemade foods or can make great impromptu vases.

4. Use environmentally friendly products
When you go to the grocery store, you probably see more and more ‘natural’ or ‘eco friendly’ products every time. There are generally two big problems with these products: Just because they’re more natural than regular products, doesn’t mean they’re entirely natural and they’re often expensive.

If you want inexpensive, natural, safe products, why not just make them yourself? Vinegar is a great way to clean and disinfect glass and other surfaces. Need to remove stubborn stains? Just add some baking soda to your vinegar cleaner. Some quick searching online will lead you to hundreds of other natural safe home-made cleaning products.

Source:  RISMEDIA sponsored by Lowe’s

Home appraisals are a necessary step in the process of selling or refinancing your home. While many homes today aren’t worth as much as they were when they were bought, it is crucial for homeowners to be realistic when it comes to getting their home appraised.

If you are in the process of getting your home ready to be put on the market or interested in refinancing, the experts at Equity Mortgage Lending offer the following things to keep in mind as you prepare for your home appraisal.

• The appraiser will need approximately 30 minutes to one hour to complete the inspection phase of the appraisal process, which includes: exterior photos of the front and rear of the home and a photo of the street in front of the property; measurements of the exterior of the home, garage and any outbuildings; a walk-through inspection of all rooms and levels of the interior of the home including the basement.
• Get organized. Put together a checklist that will help you get ready for your appraisal and get the results you're looking for.
• Be flexible when scheduling the appointment.
• Have a copy of your home’s blueprint to help verify measurements and lot size.
• Provide a list of improvements made to the property since the purchase. Improvements that should be noted include adding a pool, patio, updating your kitchen or bathroom and any room additions, etc.
• Allow your appraiser access to the entire property, including access to any crawl space or attic areas.
• Keep in mind that a clean home makes a good impression. Be sure to trim the lawn, clean the pool and garage, repair cracked windows or torn screens, check for leaky faucets and secure gutters and down spouts before your appraisal.
• Point out any amenities that may not be obvious to the appraiser: sprinkler systems, patios, pools, security systems, built in vacuum, etc.
• Provide a copy of last year's tax assessment information.
• Know what year the house was built and when improvements were made.
• The first thing appraisers look for is comparables, so be prepared and have a list of recent sales of similar properties in the immediate neighborhood.

Source:  RISMEDIA sponsored by Lowe’s

    The look of your home’s exterior can make a strong first impression, enhance curb appeal and help boost resale value, but choosing the right color can be tricky. The paint experts at Sherwin-Williams offer several helpful hints for selecting the best color for your home’s exterior.

    First, examine homes in different neighborhoods to get an idea of how residents apply color to their own homes. Note the most appealing color schemes in the area and consider adapting them to your home. Choose a scheme that blends well with homes in your current neighborhood or subtly stands out.

    Landscaping elements, such as flower gardens, flowering shrubs and trees that change color, can affect your color choice. For example, heavily wooded lots will make colors appear darker due to the shade, and the foliage tends to camouflage the home.

    Elements of your home, such as roofing shingles, brick or stone accents, often have varying shades and hues that can serve as the foundation of your paint color choices. For example, a charcoal gray shingle could have flecks of gray-blue or gray-green that you can incorporate into the color scheme.

    Be sure to examine color samples outdoors at various angles and at different times of the day. Consider buying small quantities of paint in desired colors and paint a section of the house where the body, trim and accent colors can be seen together.

    Pay attention to the direction and intensity of the sun. Intense sunlight can wash out colors. While brighter colors may be suitable in Sunbelt cities, lighter, neutral tones often work better in other locales. Tinted and mid-tone neutrals are popular because they play off landscaping and other building materials.

    White or light colors make a large home on a small lot appear even larger, while dark colors tend to make the same home look smaller but more substantial. Remember, light colors advance in space while dark colors recede. So if a home is located far from the curb, painting it a light color will make it look more prominent.

It can be easy for homebuyers to overlook home insurance costs. Most buyers tend to focus on factors such as quality of neighborhood, property taxes, school districts and available recreational and cultural outlets. But the seemingly mundane detail of home insurance can add up to a big investment. The size, location, construction and overall condition of a house can affect insurance cost, choice and availability, according to the Insurance Information Institute. When looking at prospective homes, the Institute recommends that homebuyers consider the following: 

• Where is the nearest fire department? Houses located near a fire station usually cost less to insure.
• Are the plumbing and electrical systems in good condition? Poorly maintained, unsafe and/or outdated systems are more costly to insure than well-maintained ones.
• Is the home vulnerable to wind damage? A beach home may be more susceptible to wind damage and can be more costly to insure than homes located inland.
• Is the home at risk for flooding or located in a flood zone? Most standard homeowners’ insurance policies do not cover floods, so you may need a separate policy, which you can get through the National Flood Insurance Program, which is serviced by private carriers, or from a few specialty insurers.
• Is the home located in an earthquake-prone area? If so, earthquake insurance requires an endorsement or a separate policy.
• Is the house well constructed and well maintained? Homes built with
  disaster-resistant materials and designed to meet current building
  codes are more likely to withstand natural disasters.

Your home is your biggest investment. Make sure you protect it with the right
type of homeowners’ insurance policy.