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| My Clients, My Friends - - Here's to You! |
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955 Bear Creek Way SOLD $180,000.00 within 1 week of listing. Not a Foreclosure or Short Sale! |
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9406 Stanfield Court SOLD $169,000.00 within 1 week of listing! Not a Foreclosure or Short Sale! |
Articles and Advice |
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AUGUST IS "SHOOTING STAR" MONTH! By Jan Fetzik How are you doing? It is already August and I love this weather we are experiencing! Last month for that Summer Fling before getting the kids ready for school! Real Estate interest rates are really fantastic, mostly still under 5.00% but where did all the buyers go? This has been a tough year for all of us in the Real Estate business. Short Sales are taking over the listing marketplace and take several months to close. In the meantime, your buyers get anxious and tired of waiting for the short sale banks to make their final decision. Some banks are even foreclosing on the homes right in the middle of your process! You have to be tough as nails to be in this business at this time! New credit criteria has really affected our buyers borrowing power. There are no more freebies from the government either but you just can't beat those interest rates! I used to think that any loan under 6.00% was a fantastic deal! We will survive this year and it can only get better and better! Here are a few places you may want to visit and have some much needed enjoyment for a weekend: 08/07 Sonora Blues Festival, Sonora's Motherlode Fairgrounds 08/07-08/08 25th Annual Festa Italiana, Festival Park, Auburn Blvd., Sacramento 08/07-08/08 16th Annual Aloah Festival at The Presidio, San Francisco 08/13-08/15 San Jose Jazz Festival, downtown, San Jose 08/14-08/15 19th Annual Tomato Festival & West Coast Barbecue Championship, Texas St., downtown Fairfield 08/20-08/22 Grand Prix of Sonoma, Infineon Raceway, Sonoma 08/21 7th Annual Paso Robles Olive Festival, downtown, Paso Robles 08/21 48th Annual Klamath Salmon Festival, Klamath, Ca 08/30-09/06 Burning Man 2010, Black Rock Desert, Nevada 09/01-09/06 Monterey County Fair, Monterey Fairgrounds And the Month of August features the Perseid Meteor Showers in the Northeast sky, pre-dawn viewing is the best and peaking August 12 & August 13. Don't miss August's famous "shooting stars"! Go camping in the mountains and enjoy the show! Always my pleasure to connect with you, my clients, my friends! Have a great August! |
| When double-pane glass needs replacing By Paul Bianchina Q: I am sort of handy around the house and was wondering how difficult it is to remove and replace the windows in my house. There seems to be moisture between the double-pane windows now. Any tips? --Frank C. A: If you are seeing moisture between the panes of glass in a double-pane window, that indicates that the air-tight seal has failed, which is not unusual. What you want to do is replace the insulated glass unit, not the entire window -- the same as what would happen if you broke the window glass. Insulated glass units need to be special ordered to fit the window. Contact any licensed and bonded glass company in your area, and have them come out and measure and order the units for you. They can also discuss any options you have for installing glass that is more energy efficient. Installation involves snapping out the trim pieces that hold the glass in place, removing the old insulated glass unit, setting the new unit into the window frame with special tape to hold it in place and help with the air-tight seal, and then reinstalling the trim pieces. All in all, it's something best left to the glass company. Q: I recently had my wood shingles removed and replaced with an Elk 40-year composition shingle. My wood shingle roof did not have any vents, and the new roof was installed with continuous "Z" ridge on top for ventilation. The house is single-story, 3,000 square feet, and I have calculated that I need 10 square feet of vent area. There is vent all around the house at the eaves. How do you figure the ventilation of the ridge vent? Do you think I need more vents? --Don H. A: The Z-Ridge that you mention is actually Elk's ridge shingle, not the vent itself, so the first thing you would need to know is exactly what type of ridge vent was installed, because they can differ between brands in the amount of net free area (NFA) that they provide. If you have the Elk brand of continuous ridge vent, they list it at 10.65 square inches of NFA for every one linear foot of vent length. That assumes that the roofer cut back the roof sheathing at the ridge by the recommended 1/2 inch on each side, creating a total of 1 inch of air space at the ridge. Because you want your vents to be divided roughly equally between high and low, you would want about five square feet in high ventilation, which is 720 square inches. Divide that by 10.65, and you would need almost 68 linear feet of ridge vent. The final step would be to measure (or ask) how much ridge vent was installed, and see how close it is to that 68-foot figure. If it's substantially less, I would suggest adding additional ventilation in the form of individual gable or ridge vents. Q: During our remodel, our existing wood floors got soaked during an unexpected rainstorm in the spring. They were refinished in September. I've noticed some gaps between the lengths of the boards, maybe 1/16 inch wide. Is there a way to fill the gaps without refinishing the whole floor? Should I fill these gaps or leave them alone? The wood floors are 3/4-inch red oak and nearly 40 years old, and they have been refinished two times. --Cindy K. A: There are ways to fill the gaps and repair the finish, but they are difficult to do correctly for a nonprofessional. They should also not be left alone, because gaps in the finish will more readily allow for the intrusion of dirt and, more importantly, moisture, which can damage the floor in the future. It sounds as though the floor may have been refinished before it had dried down to a low-enough moisture content for finishing. As a result, when the boards completed drying, the gaps opened up. Since the floor was just refinished last September, in my opinion the flooring contractor needs to come back out and make the necessary repairs for you. |
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| Seven rules for room additions By Paul Bianchina If you're happy with your home and your neighborhood but are craving a little more space, maybe adding on is a better alternative to moving out. Room additions can be a terrific alternative for many homes, adding space for a growing family and adding resale value at the same time. But be forewarned. A good room addition involves a whole lot more than just slapping on some additional square footage. Here are some important rules to keep in mind as your planning gets under way: 1. Know why you're adding on: This is the first rule, and it happens before you lift a hammer. Why do you need to add on? And no fair cheating and saying, "I need more space!" Do you need another bathroom? Bedroom space? A laundry room or mud room? An improved kitchen flow? More space to entertain? Better accessibility due to health issues? More storage? A larger garage or hobby area? The only way the addition will meet your needs is to know what those needs are in the first place. 2. Good additions never look like additions: This is the other top rule of room-addition planning. When you're done, the addition -- no matter what its size or where it's located -- should never look like an addition. The architectural styles of new and existing need to blend. The exterior materials need to blend as well, or at least complement each other. To the extent possible, use the same type of windows, roofing, doors, siding and other materials. If the original home has wood windows, using new vinyl windows in the addition screams "add-on" and lowers the appeal and the value. Don't overlook the need to blend landscaping and hardscaping as well. 3. Out, up, down, or a combination: The how and the where of a room addition is always a fun and exciting challenge for everyone involved. Some homes are situated on larger lots and lend themselves very nicely to adding out. Others seem best suited to adding up by building on a second or even a partial third floor. Some houses are even laid out in such a way that it's possible to excavate under them and add new living space in the form of a daylight basement. Or it could be that a combination of two or even all three of these options makes the most sense for your particular home. Keep your mind open to the possibilities. Work with a good contractor and a good designer and you'll be amazed at what you can come up with. 4. Don't let the interior become an afterthought: I've seen a surprising number of additions that look great from the outside but seem to have no thought put into them on the inside. Flooring doesn't match. Trim doesn't match. Sometimes even the interior floor heights don't match. Remember that how the interior of your addition looks and flows on the inside is just as important as how it looks and flows on the outside. Use the same materials or the same style of materials. Match up ceiling, floor, and wall levels. Here again, no matter how you view the addition, inside or out, it should never look like an addition. 5. Create convenient access: This is another afterthought in a lot of additions. Let's say you have a three-bedroom, one-bathroom house, and you want to add a second bathroom. Typically, that's an addition that's going to have a good payback. But then you build the addition so that the only access to the second bathroom is through the kitchen. You now have a three-bedroom, two-bath house, but since the layout is lousy, you've actually gone backwards in terms of desirability and resale value. Are you going to create a beautiful second-floor master suite that can be accessed only by a tiny spiral staircase from the family room? Is the only way into your great new kitchen via a convoluted hallway that leads through the laundry room? When planning your addition, never lose sight of how you're going to access the new spaces, and make sure that access is both convenient and inviting. 6. Don't overwhelm your lot: Granted, room additions are expensive. So when you're doing one, and all those workers are onsite, there's a temptation to get as much square footage as you can. But don't cram your lot full of house. Remember that open space is important as well, both to you and your family, and, later on, to potential buyers. This is a good time to go back to Rule No. 1 and reconsider the "why" part of your room addition. Don't add space just to add it -- stay focused on your overall goals. 7. Understand the legalities: There are lots of rules and regulations that come into play regarding room additions. These include property line setbacks, zoning restrictions, and restrictions imposed by homeowner associations and architectural review committees. In some historic areas, your addition may have to comply with certain historic guidelines. In other areas, there may even be solar shading restrictions that limit the height or the orientation of your roof line. Be sure you check into all of this before you get too far along with your planning. |
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| Water conservation tips By Amy Westervelt It seems you can hardly open a newspaper these days without reading the headline "Water is the new oil." But what does that mean exactly? In fact, water shortages may cause more severe problems than oil shortages: our lives literally depend on water, plus there are several alternatives to fuel but none really to water. We can technically "make" more water through techniques like rainwater catchment and desalination, but few individual homeowners have their own catchment tanks and even fewer are likely to rig up their own desalination plant. Even if such things were easy, it would still behoove us all to reduce our water usage first, not only because water is scarce, but also because we could all stand to shave a few dollars off our water bills. With that in mind we compiled the following tips to help you do exactly that. In the Shower Install water-saving shower heads or flow restrictors. Readily available at any hardware or home store, low-flow shower heads deliver 2.5 gallons of water per minute while traditional shower heads use 5 to 7 gallon per minute. Take a Shorter Shower. You don't have to be a hero, just shave off a couple of minutes. According to the EPA, even a one or two minute reduction in shower time can save up to 700 gallons per month. Use the Cold Water. If your shower takes awhile to warm up, catch the cold water in a bucket and use it on your lawn or in the garden. In the Bathroom High Efficiency Toilets. If your toilet is from 1992 or earlier, you probably have an inefficient model that uses between 3.5 to 7 gallons per flush. New and improved high-efficiency models use less than 1.5 gallons per flush - that's 60 to 80 percent less than their less efficient counterparts. According to the EPA, over the course of 10 years, one high-efficiency toilet can save a family of four roughly $1,000 without compromising performance. Displace Water. Here's an old-fashioned trick: Put a plastic bottle or bag weighted with pebbles and filled with water into your toilet tank. Displacing water in this manner allows you to use less water with each flush, saving between 5 and 10 gallons per day. Check for Leaks. To check your toilet for leaks, put dye tablets or food coloring into the tank. If color appears in the bowl without flushing, there's a leak that should be repaired. To check showers and faucets for leaks, read your water meter before and after a two-hour period during which no water is being used. If the meter does not read exactly the same, you probably have a leak. Fixing a leaky toilet saves up to 400 gallons of water per month, while fixing a leaky faucet can save up to 225 gallons per month. Brush and Shave Efficiently. Turn off the water while brushing your teeth or shaving. Fill the bottom of the sink with a few inches of water to rinse your razor. Turning off the water while brushing and shaving saves six gallons of water a day. In the Yard Timing Is Everything. Sprinklers running when it's raining? Not cool. Put your irrigation system on a weather-based schedule. If you set it to water in the early morning, that's even better. Using weather-based irrigation scheduling on a moderate-sized yard can save up to 37 gallons of water per day Maintenance. Make sure a leaky sprinkler head isn't costing you dollars and gallons. Go Native. Use native plants in your landscaping that are adapted to the local weather, and you won't have to water them as much (if at all). Native plants in the yard can reduce residential water use by 20 to 50 percent. |
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| Good Faith Estimate contains some 'quirks' By Dian Hymer As of Jan. 1, 2010, the Department of Housing and Urban Development (HUD) required lenders to provide mortgage borrowers with a new three-page Good Faith Estimate (GFE) to protect consumers who are applying for a mortgage. The intent of the GFE is to educate consumers about the key terms and costs of a mortgage, both at origination and ongoing. A loan originator completes the form, giving the borrower a summary of the loan particulars and information necessary to shop rates and to be sure they're comparing like-type mortgages. Although there's grumbling, mostly from mortgage brokers, lenders and closing/escrow agents, the format and information included in the new GFE is a step in the right direction. There are, however, some quirks. For example, the GFE doesn't provide a complete and accurate account of the borrower's costs. Page two provides an itemization of loan origination and settlement costs. The origination charge is itemized as one lump sum; it's not broken down. So, you don't know how much you're paying the appraiser for the appraisal, the loan originator for the origination fee, or other miscellaneous fees. Another shortcoming is in the way transfer taxes are disclosed. The entire amount of any transfer taxes is entered on the GFE, even if the sellers pay part or all of it. This could inflate the buyer's estimated settlement costs. To get around having to generate a GFE for buyers before they have committed to a given loan originator, some mortgage originators have developed worksheet quotes for buyers to use if they want to shop rates. HUD is adamant that these worksheets can't be used instead of a GFE. Furthermore, they provide the borrower no protection. HOUSE HUNTING TIP: The new federally mandated GFE provides protection for borrowers against being charged extra fees at closing that weren't disclosed on the GFE. An informal worksheet provides no such protection. Origination and settlement fees are grouped into three different categories. The first category is fees that can't increase between the time the GFE is issued and closing. Included in this category are the lender or mortgage broker's origination fee, transfer taxes and adjustments to loan origination charges after the borrower locks in an interest rate. Loan originators who miscalculate, causing fees to run higher at closing, have to make up the difference out of pocket. To cover themselves, some loan originators pad the Category one figure. The second category of fees can increase up to 10 percent at closing and includes such things as government recording charges and title insurance -- if the title insurer is identified by the lender, not by the borrower. This is done to encourage lenders to shop for the most cost-effective coverage for the consumer. The third category of fees can change at settlement and includes homeowners insurance and title insurance coverage if the borrower, not the lender, identifies the title insurer. The new GFE also includes a tradeoff table that shows what the interest rate would be if you paid a higher origination fee vs. a lower origination fee: the higher the fee, the lower the rate; the lower the fee, the higher the rate. Finally, there's a loan-shopping chart to use the mortgage information provided by one lender to compare with other lenders. There is no obligation to use a loan originator who completes a GFE for you. A loan originator can't refuse to provide a GFE to a prospective borrower who asks for one. As soon as a prospective borrower provides essential application information, such as Social Security number, property address, etc., the originator is to provide a GFE. THE CLOSING: Lenders are required to provide a GFE within three days of receiving the borrower's application. 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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| Sellers face new dilemma in timing the market By Dian Hymer Some sellers have been biding their time for three years and now wonder if they should continue to wait or bite the bullet and sell now. Karl Case, co-creator of the widely followed S&P/Case-Shiller Home Price index, thinks there's a 50-50 chance that we're at the bottom of the market and that we'll see improvements in the months ahead. Unemployment remains a concern. An increase in the number of new households is predicated on an increase in jobs. Even if we have seen the worst of the recession, most analysts believe the housing recovery could be rocky for years. A quick turnaround is probably not on the horizon. The home-sale market is generally better this year than it was last year at this time. Interest rates are lower by about 1 percent. Mortgages are much more readily available. Home prices have dropped significantly, making it possible for buyers to afford to buy a long-term home. An increasing number of fence-sitters have turned into motivated buyers. However, they are focused on value, condition and location; they aren't overpaying, as they did in 2006. It's still a buyer's market and could remain so for some time to come. Sellers who purchased within the last five years might need to sell for less than they paid. One couple bought a home in Crocker Highlands, a coveted Oakland, Calif., neighborhood. They paid just over $1.1 million in 2005 and made improvements to the property. They sold in 2009, after investing more to prepare the property for sale. They received multiple offers, over the list price. The home sold for $905,000. These sellers weren't happy about the loss. But, their goal was to own only one home. They bought a retirement home near Sacramento and were spending most of their time there. Holding onto the Oakland home was a financial drain, particularly since they were there only part time. They couldn't rent the property out for enough to cover the ownership costs. Another homeowner realized before the recent economic downturn that she couldn't afford to continue to make hefty mortgage payments due to a drop in her income. Emotionally attached to her home that she'd improved over time, she decided not to sell then, which would have resulted in a profit. Instead, she rented the property for a few years and moved in with a friend to lower her overhead. Although the rent reduced her monthly debt load, it didn't cover the carrying costs. When she finally sold in January 2010, prices had dropped to a point that the property sold for less than the amounts of the mortgages secured against the property. To get lender approval on a short sale, the seller had to contribute cash at closing. Clearly, she would have been better off financially if she had sold years earlier. HOUSE HUNTING TIP: Deciding whether to sell now and take advantage of an improved home-sale market or wait for a better time is complicated. First, you need to know the approximate selling price of your home in this market. How much work needs to be done to get the property ready to sell? Does the house have any defects or deferred maintenance that will impact the sale price or make the property harder to sell? If so, this would negatively impact the price. This information can be obtained through your real estate agent. THE CLOSING: Low inventories of good homes in some niche market gives sellers an edge. Even so, you'll be successful in today's market only if you are realistic about the current market value of your home. 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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| The fight for condo transparency By Benny Kass DEAR BENNY: I live in a 35-unit condominium complex. The homeowners association is incorporated and is led by a board of directors elected by the homeowners. I am concerned about the way the board of directors conducts the overall operation of the association. Many practices are in opposition to the bylaws, and some of the needs of the community are being neglected. For example, we have not been given copies of the budget for the last three years, copies of the minutes of the last three quarterly meetings of the board of directors, a list of the names of the officers of the board who were elected last fall, and a list of the current owners/residents. Other information, which, according to the bylaws, should be available, has not been communicated to us. I have written a letter listing my concerns and requesting information, and have given it to each board member who was elected in 2009. I have received none of the requested information nor have I received a response stating that my letter was received. As a resident with a vested interest in my house and my community as a whole, what can I do to get the information and services from the board of directors? Is there an agency or board I can contact to communicate my concerns and thereby receive help in this matter? --Barbara DEAR BARBARA: Unfortunately, this is a common problem throughout the country. While most members of boards of directors are honest, competent, and concerned, the few who are not cast a negative image on all associations. First, and not by way of embarrassing you, let's set the record straight. You live in a condominium association and not a homeowners association. There is a major difference between these two legal entities, and you should not refer to your association as an HOA. Second, I don't know where you live. Many states (and some local jurisdictions) have created agencies to deal with such problems. For example, in Montgomery County, Md., unhappy owners can complain to the Commission on Common Ownership Communities; in Virginia, they recently established an ombudsman's office to handle issues such as yours. I welcome readers to tell me if there are other such organizations throughout the country. You certainly can complain to your state's attorney general. You also have the right to file suit against your association. Most state laws require that all books and records be made available to unit owners; this would include the names of the board members, as well as any minutes of their meetings. Some states have limited this access by requiring that the person seeking such information show that he/she has an interest in those documents. However, I firmly believe that any unit owner has such an interest. Litigation is, of course, expensive and time consuming. However, if you can round up a group of owners with similar concerns, the legal fee could be shared and you would not have to go it alone. And there is one more thing you can do. In your bylaws, there is a provision on how you can "throw the rascals" out of office. Read the requirements carefully, and muster sufficient support among your fellow owners. However, I always advise my association clients that if they are unhappy, they have three choices: (1) Get yourself elected to the board; (2) put up with the situation; or (3) move out. DEAR BENNY: In 2006, the assessed value of my house had climbed to $750,000 and then dropped down to $714,000. After much investigation, I filed an abatement based on the information I obtained from our local government. Their information was wrong and I successfully got the assessment down to $530,000. However, around the same time, I refinanced based on a bank appraisal of $670,000. Currently, the county's assessment is under $450,000. I think by filing for a tax abatement I shot myself in the foot. I really believe the house is currently worth more than $500,000, but know that potential buyers look at the assessed value. I want to sell my house. Can I realistically list it at the price I believe it is worth, and expect a real estate agent to explain the situation to potential buyers, or am I stuck with an asking price closer to the current assessed value? --Karen DEAR KAREN: I don't believe you shot yourself in the foot; for a couple of years at least, you have been paying the real estate tax at a lower rate. It is true that potential buyers look at the appraised value. Especially in today's economy, appraisers who do work for mortgage lenders will be extremely conservative. But in many jurisdictions throughout this country, it is a known fact that the appraisal has not caught up with the true market value of the property. Appraising real estate is not an exact science. The best test for market value is what a willing buyer is prepared to pay for the property. You have the absolute right to list your property for whatever you believe it is worth. That does not mean, however, that you will find a real estate agent willing to accept your listing. Brokers and agents spend a lot of time working for their clients; no one wants to waste time trying to market a house that is way overpriced. You could, of course, try to sell it on your own, and you may find a potential buyer. But, we still are in financial difficulties, and real estate sales -- although picking up in many parts of the country -- are still quite sluggish. DEAR BENNY: I recently purchased a condo, and I have a noise problem with the unit above me. I can hear the people walking back and forth, getting out of bed and performing normal, everyday activities. A new owner purchased that condo last week. I believe the previous owner installed a low-grade laminate directly on the plywood floor, with no padding or sound-dampening material. I talked to the condo association manager and he says there is nothing that can be done. Is there any legal action I can take? --Todd DEAR TODD: Noise is very subjective. I often have joked that my son's definition of music is my definition of noise. Some people are more sensitive to sound than others, so it will be your obligation to prove that the noise you hear is above normal standards. There are professionals, called acoustical engineers, who specialize in determining whether the noise in your unit is within acceptable decibel range. You should retain an engineer at your expense so that you will have the proof to demonstrate that the noise you hear is real and not imaginary. That engineer should also inspect the upstairs unit so that he can provide some suggestions as to how to resolve the problem. Once you have such a report, show it to your upstairs neighbor. Explain that you are very troubled by what you hear, and ask him to take appropriate steps to correct the situation. For example, carpets could be put on the floor throughout the unit; in some cases, floorboards could be tightened, and made more secure. Often, hammering down nails will solve the problem. You should also review your association documents, especially the rules and regulations. Many associations require that 80 or 90 percent of a unit must have adequate floor covering such as rugs. If that is the rule in your association, demand that the manager inspect the upstairs unit to determine if it is in compliance with the rules. If there is no such rule, you should discuss your concerns with the board of directors. It may be convinced to enact such a rule for the future. If all else fails, you certainly can take that owner to court, claiming a private nuisance. But litigation is time-consuming, expensive and always uncertain. Discuss your situation with an attorney to determine if it's worth the effort. Benny L. Kass is a practicing attorney in Washington, D.C., and Maryland. No legal relationship is created by this column. |
| Add power to purchase offer By Dian Hymer Figuring out how much to offer on a home you'd like to make your own is never easy. A complicating factor is that although it appears that the housing market may be stabilizing, there is no guarantee that prices won't slip further. With this in mind, don't buy for the short term. Don't buy betting on future appreciation. Buy a home that will work for you long term, at the best price you can negotiate, using financing you can afford. To avoid paying too much, hook up with a real estate agent who will educate you about how much you'll have to pay for a home that works for you. The Internet is a great resource to help you learn about neighborhoods, current listings, and past sale prices. However, a diligent, knowledgeable real estate agent who has experience helping people buy and sell homes in the area where you want to live can get you up to speed on what's happening in that niche market now. HOUSE HUNTING TIP: Ask your agent to give you a summary of all listings that you might have been interested in that sold during the last three months to six months, including list price, sale price and how long they took to sell. It's also useful to have information about the change in average sale price over the past year. Have prices declined? Are they flat? Or are they rising? Also, ask for a list of properties currently available and pending sale. A pending sale is one where the sellers have accepted an offer, but the sale hasn't yet closed. Significantly more active listings than pending sales in an area suggests a high-inventory market where buyers have an advantage. Few active listings relative to pending sales is characteristic of a low-inventory market. During your house-hunting education, make sure your agent reports back to you about day-to-day changes in the market. If an overpriced listing has a price reduction and is now in your price range, make a point of looking at it as soon as possible. A new price can attract other buyers' interest. When listings you've seen sell, your agent should let you know the sale price. This will help you develop a sense for when a listing is priced too high, or priced at or under market value. How well a listing is priced for the market affects your offer strategy. A well-priced listing in a low-inventory market is likely to sell quickly. There could be more than one buyer making an offer. If so, you may need to make an aggressive offer near, at or over the asking price. However, multiple offers don't always result in a sale price higher than the list price. Becoming savvy about local market pricing enables you to know when to make a strong offer on a new listing, even though the overall market may be lagging. It's a different story in segments of the market where there are plenty of listings that take months to sell. In this case, you have choices, making it possible to offer less than the asking price and negotiate. If this one doesn't work out, you move on to the next. You should be prepared to walk away rather than pay too much. Buyers making offers that are contingent on the sale of another property usually have to pay more than all-cash buyers who can close quickly. If you've already sold your home and are waiting for the sale to close, you'll be in a better position to negotiate on price. THE CLOSING: The best bet is to have your home sold and closed. It removes uncertainty in the sellers' minds and may make them more receptive to a lower price. Dian Hymer, a real estate broker with more than 30 years' experience, is a nationally syndicated real estate columnist and author. |
| New lead rules affect pre-1978 homes By Paul Bianchina Many houses, apartments and other buildings that were built prior to 1978 may have paint in them that contains lead. Lead-based paint can pose serious health hazards if not taken care of properly, especially for children and pregnant women. If you live in a home that was built prior to 1978, or if you're thinking of buying or renovating one, this is certainly an issue that you need to be aware of. On April 22, 2010, the Environmental Protection Agency (EPA) put a new rule into effect that's designed to help focus the efforts of consumers and contractors to protect against the potential health hazards of lead-based paint. Called the Lead Paint Renovation, Repair and Painting Rule (RRP), the new rule affects contractors and subcontractors who work on older homes. Under the RRP rule, all renovation and repair contractors working in pre-1978 homes, schools, and day care centers who disrupt more than six square feet of lead paint are required to become EPA-certified in lead-safe work practices. Contractors are required to take a one-day training course, and firms must send in an application to the EPA. If not, they could face tens of thousands of dollars in fines in the future. According to the EPA, many contractors think the issue of lead-paint poisoning went away years ago. But lead-paint poisoning isn't just about eating paint chips, and even contractors who think they're doing a good job may not be working in a lead-safe manner. In fact, new research shows that contractors such as plumbers, electricians, painters and window replacement experts can inadvertently expose children to harmful levels of lead from invisible dust disturbed during jobs they perform every day. Of particular concern to the EPA is the safety of young children who are living in the home during renovation work. The EPA quotes one study where it was found that children were 30 percent more likely to have unsafe levels of lead in their blood than those in homes where renovations were not occurring. Contractors who work on pre-1978 homes, apartments, schools, day care centers and other places where children spend time -- from large and small contractors to building services professionals -- will have to take the necessary steps to become lead-safe certified. EPA certification is good for five years. Where is lead a hazard? Typically, the older your home is, the more potential there is that lead paint will be present. It may be buried under several other layers of non-lead-based paint, and as long as those upper layers are not disturbed the health hazard remains relatively low. But as soon as the paint begins to chip or peel, or if any sanding, cutting, or other renovation or repair work is done, the lead-based paint can be released. Here are some of the potential hazard areas, based on suggestions from the EPA: • Lead from paint chips, which you can see, and lead dust, which you can't always see, can be serious hazards. • Peeling, chipping, chalking, or cracking lead-based paint is a hazard and needs immediate attention. • Lead-based paint may also be a hazard when found on surfaces that children can chew or that get a lot of wear and tear. These areas include windows and window sills; doors and door frames; stairs, railings, and banisters; and porches and fences. • Lead dust can form when lead-based paint is dry scraped, dry sanded or heated. Dust also forms when painted surfaces bump or rub together. Lead chips and dust can get on surfaces and objects that people touch. Settled lead dust can re-enter the air when people vacuum, sweep or walk through it. • Lead in soil can be a hazard when children play in bare soil or when people bring soil into the house on their shoes. To find out more about lead-paint hazards, lead-paint testing, and the new lead-safe certification program for contractors, visit the EPA's Web site at www.epa.gov/lead, or contact the National Lead Information Center (NLIC) at 1-800-424-LEAD (5323). |
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