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| FRESH REAL ESTATE INFORMATION FROM YOUR REAL ESTATE BROKER, Alain Ionescu |
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| see my present listings http://www.5servicessacramento.com/listings.htm |
Articles and Advice |
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| Final walkthrough a buyer's best friend By Dian Hymer Imagine this. You move into your new home for the first time after closing and, although you transferred the utilities into your name, the lights don't turn on. There isn't a single light bulb left in the house, the yard is overgrown, and the leaky faucets the sellers were to have fixed still leak. Most homebuyers aren't faced with such an unpleasant surprise. You can gain some degree of control over the situation by completing a walkthrough inspection of the property within five days of closing. Your purchase contract should include a clause that grants the buyers permission to do a final walkthrough inspection sometime close to the closing date. A final walkthrough provides the buyers an opportunity to verify that the property is in substantially the same condition it was when the sellers accepted their offer. The walkthrough is not a contingency of the contract that gives the buyers the right of approval or disapproval. Your purchase contract should require the sellers to maintain the property in its present condition until closing. So, if a window breaks before closing, the sellers would be responsible for fixing it, depending on the verbiage in the contract. During the walkthrough, the buyers can also confirm the completion of any work the seller agreed to do before closing. Ask the sellers to provide you copies of invoices for work done before closing. Keep these documents in your house file for future reference. If sellers made repairs themselves, they should provide an itemization of work completed that describes what they did. HOUSE HUNTING TIP: It's a good idea to have your REALTOR® accompany you on the final walkthrough and take notes as necessary. If the property isn't in the same condition it was when you agreed to buy it, put this in writing and have your REALTOR® contact the sellers' agent to inform them of the items remaining to be done before closing. Your purchase contract should include a provision for the sellers to deliver the property to the buyers free of personal property and debris, unless otherwise agreed to in writing. For example, the sellers might have agreed to leave the washer, dryer, and refrigerator with the house, and the buyers accepted the offer. These items are usually considered personal property, unless they're built in. If the sellers moved these items out or the movers did by mistake, they would need to be returned by closing unless you make other arrangements with the sellers. It can be very helpful if the sellers agree to do a walkthrough with the buyers to show them things about the home that the buyers would have difficulty figuring out on their own, like the location of obscure light switches or how to operate retractable skylights. If something is disclosed about the property that should have been disclosed earlier, put it in writing. If it's something significant, talk to your real estate agent or attorney about how best to resolve the issue. Keep in mind that most real estate agents are not licensed to practice law. Also, seller disclosure laws vary by state. Doing a final walkthrough to verify the condition of your new home can be complicated if it's tenant-occupied. If you are buying a tenant-occupied property to live in, your contract should provide for the property to be vacant several days before closing. THE CLOSING: That way you can walk through the property free of tenants' belongings before you close the deal. Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author. |
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| Five ways to cut heating costs By Paul Bianchina If you're thinking it's time to do something about your cold house and your high heating bills, here are five win-win suggestions that will help you do both. 1. REPLACE YOUR FURNACE FILTER A clogged filter makes your furnace work harder to deliver the same amount of heat, which wastes energy by keeping the furnace on for a longer period in order to bring the house up to the requested temperature. If you have a central heating system (used for heat only), replace the filter once a year, at the start of the heating season. If you have a heat pump or a furnace with central air conditioning, replace it twice a year, at the start of the heating season and at the start of the cooling season. While replacing the filter, always use a shop vacuum to clean up as much dust and debris within the filter cavity as you can reach. 2. INSTALL A PROGRAMMABLE THERMOSTAT Programmable thermostats work a whole lot better than your memory. They give you the ability to have a lot more control over your heating and cooling systems, and they will add both convenience and energy savings by raising and lowering the heat at preset times so you don't have to remember to do it. A programmable thermostat will bring the system on and shut it off based not only on temperature, but on time as well. For example, the thermostat can be programmed to turn on the heat to a certain level at 6 a.m. when you get up, and turn it down again at 8 a.m. when you leave for work. It also can be set for different cycles on different days of the week, and can be overridden with the touch of a single button to temporarily raise or lower the heat. 3. INSULATE DUCTWORK Since the ducts are running through an unheated space, whether in your attic, crawlspace, basement, or garage, duct insulation is a huge part of the system's ability to retain heated air within the ducts until it gets delivered into the house. All of the ducts in unheated spaces should be completely wrapped without any gaps, and the insulation should be of sufficient thickness to provide good insulating value -- typically around R-8, which is approximately 2 1/2 inches of fiberglass. 4. CLEAN WALL AND BASEBOARD HEATERS As with a central furnace, it's very important that wall heaters and baseboard heaters be cleaned at the start of every heating season. Before cleaning, however, first try to minimize the potential for dust buildup in the heaters. This might be done by rearranging furniture, increasing fresh air in the room, or increasing air flow in front of the heaters. To clean baseboard heaters, first shut off the circuit breaker that supplies power to the heater. To be certain you have the correct breaker, turn the thermostat up to high for 30 seconds or so and make sure that the heater does not come on. Remove the front cover and use a vacuum to clean out the inside of the heater, being careful not to damage the aluminum fins inside the heater. If you notice that the fins are bent, you can use a fin comb, available through many heating contractors and other retailers of heating equipment, to straighten them out again. For wall heaters, shut off the circuit breaker for the heater, and verify that it's off as described above. Remove the screws that hold the grill in place, and remove the grill. Wash the grill in hot soapy water, dry it, and set it aside. You can then clean the inside of the heater using a vacuum, taking care not to touch the heating elements, or you can blow out dust using the blower side of your shop vacuum. Note: Be sure to refer to the instruction book that came with the heater, or check with the manufacturer's Web site for specific cleaning instructions and safety precautions. 5. COVER AND WEATHERSTRIP ROOM AIR CONDITIONERS If you have a room air conditioner that sits in a window or mounts into an opening in the exterior wall, they have the potential to leak a lot of air. If the air conditioner is in a window and is easy to remove, your best bet is to remove it, clean it, and then store it for next summer. If it's not easily removed, then examine the unit carefully to see if there is any daylight coming in around it. You can use foam tape, expandable spray foam, or other weatherstripping materials to close up the gaps around the case. Finally, buy or build a cover that will slip over the unit from the outside and prevent cold air from coming through it and into the house. |
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| Contingencies frustrate buyers, sellers By Dian Hymer There are many frustrating aspects associated with buying or selling a home today. One is that contract contingencies -- such as inspections, financing or the sale of another property -- often aren't removed on time. It's not uncommon for closings to be delayed, usually due to the buyer's lender. Your purchase contract should include a provision to deal with deadlines that are not met on time. For example, in the home purchase contract used by many REALTORS® in California, sellers can give buyers a 24-hour notice to perform. If the buyers don't meet this deadline, the sellers can cancel the contract. This notice can't be delivered earlier than 24 hours before the contingency is due. You might want to issue a 24-hour notice, or some similar remedy included in your contract, if you're in contract with buyers who don't remove their inspection contingency on time and have made no effort to line up inspectors, especially if the buyers' agent thinks her clients are flaky. If your contract doesn't provide for a simple remedy for missed deadlines, consult with a knowledgeable real estate attorney. In most cases where buyers can't remove contingencies on time but they're serious about moving forward, there's just a glitch that needs to be addressed. A seller wouldn't want to jeopardize the deal by invoking a demand to perform if there's a good chance the delay is just that. Recently buyers who were applying for a jumbo mortgage hit a roadblock when the house didn't appraise for the purchase price. The loan and appraisal contingencies were due 14 days from acceptance -- a near impossible time frame in the current lending environment. The buyers were committed to buying the house, and the sellers were committed to selling to these buyers. The buyers requested an extension of time for the loan and appraisal contingencies; the sellers agreed. HOUSE HUNTING TIP: At the first indication there could be a delay in a contingency removal or closing, your agent should let the other agent know so that it doesn't come as a surprise. Your agent should be as specific as possible about the situation, without violating your privacy rights. If it turns out that there will be a delay, make a written request for an extension so that there is no question about whether or not the contract is intact. Some residential purchase contracts include a passive form of contingency removal. In this case, if the contingency is being removed, the party removing the contingency does not need to do so in writing. However, the preferred method for contingency removal is the active form where the party removing the contingency gives written notice that the contingency is lifted from the contract. This avoids any ambiguity as to whether or not a contingency has been satisfied. Sometimes a contingency or closing is missed by a day. In this case, a written request for extension might not be made because the delay occurs at the last minute. For example, a final, unanticipated condition of loan approval required one buyer to prove that her Social Security number was, in fact, her Social Security number. The buyer, a busy doctor, had to take off work and go to the local Social Security office to get the documentation the lender required. The loan contingency was removed a day late. But the escrow closed on time. THE CLOSING: Patience and flexibility are a necessary part of getting through current home-sale transactions. However, if a delay is going to be more than one day, it should be agreed to in writing. Oral agreements are not binding. Dian Hymer is a nationally syndicated real estate columnist and author. |
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| Dial down holiday excess By Elyse Umlauf-Garneau Fiscal, nutritional and environmental excess. Such is the dark side of the holiday season. But by adopting a greener approach to festivities, that gluttony can be pared back. Here are some strategies: Plant greetings -- Abandon snail-mail cards in favor of online greetings, which eliminate paper waste and requires no fuel for delivery. But if sending cards is something you still wish to do, opt for recycled paper and cards that get second lives in the garden. Some are infused with seeds, and recipients plant the cards and later watch flowers bloom. One source is Greenfield Paper at http://www.greenfieldpaper.com/asccustompages/categories.asp?categoryid=3. Sustainable sleeps -- If you're traveling, consider staying at green hotels. Hunt for green lodging at http://www.istaygreen.org/. Treehugging -- Don't cut a tree. Plant one. Buy a live Christmas tree that you can later plant outside. Or eliminate the indoor tree entirely and decorate one outside your window. If you do have a tree, give it a second life as mulch by recycling it. Go to http://www.ciwmb.ca.gov/Organics/EventsInfo/XmasRecycle/Default.htm) for more information. Green light -- Opt for LED Christmas lights and swap traditional candles for a green menorah. Check out http://www.moderntribe.com/judaica/Jewish_Holidays/Hanukkah/led_menorah. Be sure to have a plan for turning lights off with a processor, time clock, or photocell. Save your sink -- Recycling cooking grease, especially if you're a fan of those giant turkey fryers, is a better option than clogging sinks and sewers. One use for the goo is powering biodiesel vehicles, which is San Francisco's plan (http://www.sfgov.org/site/mayor_index.asp?id=98045) for recycled restaurant grease. Type in "cooking oils" at www.earth911.com to find recycling centers. Green geek -- Use a GPS device (http://www8.garmin.com/buzz/ecoroute/) to calculate the most efficient route to your holiday destination or download an iPhone app (http://www.carticipate.com) to find carpools. Before taking off, determine whether public transportation is an option to reach long-distance destinations. And plan shopping excursions to make the most efficient use of fuel by, for example, walking to stores during lunch or stopping along your commute route. Recycled boxes -- Store holiday gear in recycled boxes or bins. No more stuff--Ask family and friends to identify favorite charities to which you can make donations in their name. Or rather than giving stuff, provide experiences by buying museum memberships, symphony tickets, or by paying for art classes or music lessons. Support artisans--Handmade items, be it jewelry, knitted sweaters, or pottery, often bring greater joy than generic mall objects. Find unique items at museum shops, art fairs and online at places like www.etsy.com and www.artfire.com. Sustainable eats -- Consider organic ingredients for holiday meals. Better yet, take a 100-mile diet approach (www.100milediet.org) by featuring foods grown within 100 miles of home. Dining out or giving the gift of a meal? Find green restaurants at www.dinegreen.com. Slash consumption -- Help friends and family slash energy bills and conserve resources by introducing them to CFL bulbs, water-saving gadgets, energy monitors and composting devices. Keep on giving -- Look for things that eliminate waste and bring pleasure year-round. The most obvious examples are reusable grocery bags and coffee cups. But consider that wireless reading devices (one example is the Kindle--www.amazon.com/kindle) save trees by allowing recipients to download books instead of reading hard copies. Gadgets that create seltzer water (http://www.sodastreamusa.com) eliminate bottles among fans of sparkling drinks. And the gift of a bike (for the ultimate commuter rigs, check out Dutch bikes at http://dutchbikeseattle.com/html/bikes/index.html) or scooter can bring years of pleasure--and fat burning--to loved ones. Enjoying greener holidays doesn't necessarily entail sacrifice or the overhauling of your life. Implementing a few changes can have an impact. For sustainability ideas specific to your community, interests or lifestyle, conduct an online search. |
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| Don't skimp on title insurance By Dian Hymer Most people are trying to cut costs these days. Some even wonder if it's necessary to pay for title insurance when they buy or sell a home. Skimping here could end up costing plenty if you discover a title defect after you own the property. Title insurance is paid for once at closing and covers the property for as long as you own it. It protects the purchaser from financial loss deriving from defects in the title to the property. The premium cost varies depending on the title insurance company, and is usually based on the purchase price. Who pays the title insurance premium often depends on local custom and can vary from one county to the next. For instance, if you were to sell a home in Los Angeles County, where the seller usually pays for title insurance, and buy in Alameda County, where the buyers usually pay, you'll pay for title insurance twice during one move. Buyers typically pay the premium to cover their lender's interest in the property. The payment of title insurance is not set by law and can be negotiated between the buyer and seller, although local custom usually prevails. Whatever is agreed to in the purchase agreement will dictate who pays the premium. A buyer who was an attorney thought title insurance was expensive and a waste of money. Given his legal expertise, he decided he'd search the title record himself to avoid paying the title premium. In the end, his agent talked him out of the do-it-yourself approach based on the risks involved. Title insurance companies search the title to a property to make sure that there aren't any defects in the chain of title. They also look for liens and easements recorded against the property, as well as establish who has marketable title to the property. In one case, the title company discovered when searching the chain of title that when the property sold to the current owner, an heir to the estate had not signed the deed transferring title. This meant that person still had rights to the property. Fortunately, the title company located the heir, who was reputable. She relinquished any interest she had in the property. If the heir hadn't been cooperative, the current owner could have made a claim against the title insurance company that issued title insurance to him when he bought the property. Title companies usually issue a preliminary title report, which is an offer to provide title insurance on the property. It is not the insurance policy, but it shows the results of the title search. You and your real estate agent or real estate attorney should examine the preliminary report carefully to make sure the person who has marketable title to the property is the person who signed the purchase agreement. Also check for liens secured against the property. Easements grant the right to use the property to someone other than the owner. Common easements are for utilities, sewer, and drainage. Ask the title company to provide written copies of any easement and CC&Rs (covenants, conditions and restrictions), and to locate the easements in color on a copy of the parcel map. You can't build over an easement. Both CC&Rs, typically found in condominiums and planned-use developments, and easements restrict your use of the property. Make sure you understand how these will affect your ownership interests before you complete a purchase. If you find defects in the title, make it a condition of the purchase that the seller cures the defects before closing. Make sure that your purchase agreement includes a clause that gives you that right. THE CLOSING: Ask your title officer, REALTOR® or attorney for answers to any title-related questions. Dian Hymer is a nationally syndicated real estate columnist and author. |
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| Need fencing? Think vinyl By Paul Bianchina If you're exploring the different options for new or replacement fencing, one material to be sure to have on your list of possibilities is vinyl. Vinyl fencing manufacturers have made great strides in recent years, offering a tremendous array of sizes, styles and options to choose from. The overall quality is up; the prices have come down; and competition among the growing number of manufacturers makes it a good time to consider vinyl for your next fence project. Vinyl fencing is manufactured from polyvinyl chloride (PVC), blended with other chemical additives that add strength and protection from ultraviolet (UV) rays. Unlike wood, vinyl fencing is completely weather-resistant and virtually impervious to rot, insects, or other environmental damage. Another advantage to vinyl is that the color of the fence is created by the color of the vinyl itself -- it is completely through the vinyl, as opposed to a surface layer like paint that can chip, peel or wear off. Vinyl fencing still is more expensive than wood, but the lower maintenance expense typically makes the lifecycle cost considerably lower. Vinyl also compares very favorably to aluminum -- vinyl has similar durability properties with a lower initial cost -- and is typically considerably cheaper than wrought iron. However, you have to want the look of a painted fence, since vinyl fencing materials are currently available only in white, tan and gray. When shopping for vinyl fencing materials, remember that not all fences are created equal, and you typically get what you pay for. Carefully compare the manufacturer's specifications for the thickness of the vinyl, and look at how the components are constructed and structurally reinforced. Also, compare the length of the manufacturer's warranties, as well as how complete they are and what they cover. STYLES AND OPTIONS In a sure indicator of the rapidly growing popularity of vinyl fencing, there are an amazing number of styles and options now on the market to choose from. From traditional pickets to horse fencing to privacy enclosures, you will probably find a material available to match just about any style of fencing your imagination can conjure up. Some examples include: •Rail: This is the style that pretty much launched the vinyl fencing industry. Rail fences consist of upright posts that are either square or round, with two, three or four horizontal rails between them. A variation of this style is the cross-buck, which has a horizontal top and bottom rail and two angled rails between them in an X configuration. Standard rails are rectangular in section, matching standard 2x6 lumber, but there are also round rails available that offer the look of a welded iron fence and provide additional protection for horses and other animals that may rub against the rails. • Picket: Picture any variation of Tom Sawyer's famous fence, and you've got it. You can get picket fences in a variety of heights, and with pickets that are square, rectangular, round or octagonal, or that duplicate Victorian lathe-turned spindles. The tops of the pickets may be straight-cut, pointed, dog-eared, or rounded on top, or you may choose to cap them with any of a variety of caps from fleur de leis to balls. • Privacy: Privacy fences are typically 5 or 6 feet in height, and consist of solid panels that mimic the look of individual fence boards. Here again, there are dozens of board configurations that include traditional board fencing, good-neighbor styles, interlocking tongue and groove, and board-on-board styles. • Combinations: If you're looking to match a particular fence style or trying to create a unique one of your own, you can combine many types of vinyl fencing. For example, you can top a privacy panel with lattice, or combine two different sizes or styles of pickets. Installation of any type of vinyl fencing is pretty straightforward and requires only basic carpentry skills, but proper alignment of the posts is critical. Full installation instructions are provided from the manufacturer, so follow them carefully. Also, remember that there are building codes that apply to fences in certain applications, which may include such things as impact resistance and weight ratings -- be sure and discuss this with your fencing dealer and your local building department, and verify that the material you're using is correct for your particular application. |
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