Attic Ventilation is very Important

Attic Ventilation

The detrimental conditions caused by excessive heat or moisture build-up in attics can often be prevented by providing adequate ventilation. As a minimum, it is generally recommended that there be at least one square foot of free vent area (actual unobstructed venting) for each 300 square feet of attic floor area. Additional provisions will be required for some house styles, due to locational factors, or if there isn't a suitable vapor retarder between the 1iving areas and attic. In an existing house, actual conditions can be the determining factor. If the attic is 20 degrees or more above the outside air temperature on a warm day, or there are any odors, condensation or signs of mold growth in the attic, then additional ventilation is probably required. The ideal arrangement in most cases is to provide intake vents at eave levels and exhaust vents at the roof ridge. In fact, recent changes in construction standards dictate balanced upper and lower attic area venting. This arrangement promotes natural air convection to draw in cooler air and exhaust hot, moist air. If the house design doesn't permit such venting, a combination of gable and roof vents that provide as much crossflow as possible can be used. Most newer vents will be labeled with the ventilation area they provide; if there is no listing assume that the free vent area is no more that 50% of the total vent area due to restrictions caused by louvers and screening. It is also important to make sure that vents are not blocked by insulation or other obstructions. With cathedral or vaulted ceilings or finished attic areas, it is especially important to make sure that there is adequate venting between the roof deck and any insulation or other materials. All roof vents should be left open year round; with proper insulation levels there should not be a concern with energy loss. While it is essential to provide adequate ventilation by passive means, in some cases forced venting may be advantageous. A wind or convection driven turbine ventilator is often added for a low cost boost to air flow. Electric attic exhaust fans, however, are often more effective at replacing the hot humid attic air with cool outside air. Thermostatic controls are provided for these units; in certain situations a humidistat may also be required. Normally these fans are set to activate at about 100 degrees, but they can be preset by the homeowner to any desired temperature. If an exhaust fan is used, the HouseMaster technical staff stresses that it is important to ensure that adequate intake air provisions are provided, otherwise the unit will not operate effectively Kitchen exhaust fans, laundry rooms and dryer vents, or bathroom exhaust fans ducted into the attic can add substantial amounts of moisture. The kitchen and dryer vent should never be ducted in this manner due to the added fire risk from the grease or lint that may be present. It is advised that bathrooms with showers or elevated moisture conditions also not be vented into the attic space. Whole house fans are also used for ventilation purposes, but these are primarily used to remove excess heat build-up from the living area. Consequently, adequate exhaust provisions from the attic area must be provided or the moist house air will aggravate conditions in the attic.

You must take care of your Air Conditioner

A central air conditioning system can provide years of satisfactory cooling with relatively little maintenance. However, a seasonal start-up check and periodic maintenance is recommended.
Homeowner Checklist The amount of do-it-yourself air conditioning maintenance a homeowner can do is limited. However, there are a few steps that can help the system operate trouble-free and minimize the potential for consequential damage. Ensuring adequate airflow is perhaps the most important homeowner responsibility. Homeowners can (following manufacturer instructions):
Clean or replace the filter(s) regularly.
Keep leaves and other debris off the condensing unit.
Keep the condensing coils clean by carefully brushing and hosing them.
Keep shrubs and other plant growth that might obstruct airflow at least 18 inches away from the condenser.
Maintain insulation on ductwork in attics and other unconditioned areas.
Check the condensate drain for any sign of blockage or leakage. Water should be dripping from this drainline when the unit is running.
Keep room input and return registers clear of furniture or other obstructions.
Selecting Trained Professionals If your air conditioner needs more than the regular maintenance described here, consult a qualified air conditioning technician. A well-trained professional can provide a thorough pre-season or maintenance evaluation and servicing as needed. Insufficiently trained service technicians forsake proper diagnostic procedures and often only perform stop-gap measures to keep a unit going. Such short-sightedness can have a drastic effect on other components leading to consequential failure of the entire system. At a minimum, a technician should:
Check that the system contains the correct amount of refrigerant.
Test for refrigerant leaks.
Check for and seal duct leakage.
Clean the blower components.
Measure airflow through the evaporator coil.
Verify the correct electric control sequence.
Inspect electric terminals, clean and tighten connections.
Oil motors and check belts for tightness and wear.
Check the condensate system for backup or leakage.
Check operating temperatures and pressures.
Check the accuracy of the thermostat.

Real Estate is a really hard business. I currently work in Real Estate and have for the past year and a half. It has put me in the hole deeper than I have ever been.
First you owe memberships to your lacal and national associations that you have to pay every year or every other. Then your broker takes a percentage of every transaction, 30-50%. And you also pay nearly $500 a year to keep your Real Estate key updated. The gas you use is on your own dime and any entertaining you may have to do. This does not even mention the items your broker charges you for advertising, whether you have any listings or not, some insurance that never comes into play.
Well If You Are Considering Real Estate, Consider that it will cost you about $3000 a year. Can you afford this?.... it's a simple question?

How you keep your home will make a big difference

You might not ever be able to sell your home if you don't keep it spick and span. I have had a few horror stories of my own and heard of several more. The latest one I heard about was from a seller's agent, meaning the agent who represents the selling side. She was contacted by a couple who wanted to see the house. She made the appointment with them and verified the time with the sellers.
As they toured the home, there in the middle of the bedroom floor was a pair of dirty underwear. The prospective buyers had been impressed with the property until that moment. As soon as the "dirty deeds" were seen by these buyers, they decided to leave and make an appointment to come to the office to look for other properties.
So if you are trying to sell your home, before you leave in the morning, be sure to tidy up!

"Spring Maintenance Checklist" a checklist from Housemaster

SPRING MAINTENANCE CHECKLIST
GROUNDS
Check condition of driveways and walks.
Check window wells, dry wells and storm drains for blockage.
Check fencing conditions and gate operation.
Check retaining walls for cracks, bulges and leaning.
Check all landscaping; trim all bushes and trees.
Check all out-buildings, porches and patios.
Check for proper grading and drainage throughout property.
Check lawn sprinkler system operation.
Check all equipment in preparation of pool opening.
Check (during rainstorm) for drainage away from foundation. SIDING AND CHIMNEYS
Check all surfaces for damage or deterioration.
Check caulking at all joints.
Treat or paint worn or exposed wood components.
Check condition of masonry chimneys and vents.
Check foundation for settlement, cracks and spalling. WINDOWS AND DOORS
Check for damaged screens or broken glass.
Check weatherstripping, caulking, and window putty.
Check for frame decay or damage.
Clean and install screens. ROOFS
Check for loose, damaged or missing roofing.
Check fascia and soffit for signs of leaks/moisture build-up.
Check all flashings for fit and seals.
Check television antenna or satellite dish mounting.
Check and clean all gutters (eavestroughs) and downspouts.
Clean fungi or algae from roof surfaces. PORCH AND PATIO
Check all wooden supports and railing components.
Check flooring for wear or damage.
Apply preservative to wood decking and components.
Seal patios at foundation. INSECT INFESTATION
Check for signs of termite, ant or other insect activity.
Check for insect damage.
Arrange for treatment or repair. INTERIOR AREAS
Check attic, ceilings and walls for evidence of leaks.
Check ventilation openings for nests, or other blockage.
Check condition of all painted or finished walls and trim.
Check carpet and flooring for wear or damage.
Check condition of all stairs and railings.
Check condition and operation of all windows and doors.
Test smoke/fire alarms and carbon monoxide detectors. SLAB/FOUNDATION
Check for cracks or breaks in wall.
Check for evidence of water infiltration or dampness.
Check for decaying sills and window frames.
Check for signs of termite, ant or other insect activity
Check for changes in framing conditions.
Check crawlspace ventilation, insulation, and vapor retarders.
Test, clean and lubricate sump pump. ELECTRICAL SYSTEM
Assess power distribution for overloads issues.
Check condition of incoming service wire and supports.
Test circuit breakers and label all circuits at panel.
Test arc-fault and ground-fault circuit-interrupters (regularly).
Check circuits for over-fusing.
Check all receptacles and switches.
Check operation of vent and/or attic fans. HEATING/COOLNG SYSTEMS
Follow manufacturer instructions for HVAC systems.
Inspect and install room air conditioners.
Clean all serviceable elements of heating system.
Change or clean heating system filter (regularly).
Check venting systems for corrosion and leaks.
Clean and de-energize humidifier.
Check and lubricate attic fan. PLUMBING SYSTEM
De-winterize and check exterior faucets.
Check well and components.
Check septic tanks and systems.
Check water and waste piping for leaks.
Check hot water supply temperature.
Follow manufacturer instructions for water heater. KITCHEN/BATHROOMS
Check condition and operation of all appliances.
Clean and change range fan filters.
Check all toilet flush mechanisms.
Check and repair all leaking faucets and valves.
Caulk and grout tile at tubs and showers.
Clean aerators and showerhead.


Copyright © HMA Franchise Systems, Inc.

They Say it is a Difficult time to buy, Just Not So

They say it is a difficult time to buy a house. You'll hear it on the news, and see it in the paper. However, if your credit isn't too bad, now is a great time to buy. On the Eastern Shore of Maryland, our market is saturated with properties for sale. This gives buyers the opportunity to pick from several homes and makes it able for them to negotiate the price.
When several homes are on the market, it gives buyers purchasing power. Sellers know that they have to either have an incentive, such as closing cost help, to lure in the buyers. One seller may offer a Home Warranty, while another offers $10,000 closing cost assistance.
If you are out looking at homes to purchase, make sure to use your buying powers.
If a home is well underpriced, don't delay, it won't last long. This is another way sellers are trying to lure buyers to their home.
Look up their tax record, you can easily see what they paid for the house. This will help you decide whether to make a higher or lower offer.

Finding a HUD home

Finding a home home can be a difficult task unless you know the right person to ask. Most Realtors don't involve themselves in HUD home sales, however you can not purchase one without a Realtor. HUD says that a Realtor must handle the transaction. Usually a thousand dollar deposit is required at time of contract.
If you locate a HUD home for sale, contact your local Realtor and they should be able to locate the neccessary information to write an offer. If you are simply interested in seeing what HUD homes are available, go to www.hudhomesource.com and check it out.
Any other questions just call, 443-523-7652.
PS There are many programs, like half off for public service officers.

Now read this

Okay that same couple that my last blog was about can still get financing for 95000. So maybe things happen for the better because now there are three four bedroom house on the market in their price range. I just have to hope they haven't lost their drive to keep pursuing a home purchase.

Now here's a horror story

There is this couple and I really do love them and want to help them find a house but their lender has made it a nightmare.
They were told verbally that they were approved for one amount and when it came down to it, it was much less.
Now that they have a ratified contract on a house, the mortgage processor has been fired and his manager can no longer find him a mortgage program. He would have to reurn to looking in a much lower price range, still do-able but not as desired on his behalf.
So the moral to thye story is to affirm that you have your financing set and it is solid before going any farther.

Don't get discouraged

Sometimes looking for a house to buy can be extremely discouraging. This lovely family came to me after working with another Realtor, a friend of the family, and asked me to help them find a house. Apparantly this other Realtor was only showing them houses in neighborhoods they didn't want to live in, and in need of desperate repair.
So after getting fed up, this client calls me and says ok, I want at least a three bedroom house. I have six children. I want a decent neighborhood, and I only qualify for a mortgage amount of $115,000.
They come to the office and we find several properties to look at in good areas and condition. We write a contract on one only to have the lender now tell me that they really only qualify for $90,000.
So we start our search again. Although these houses were a little farther out, we found another they liked and wrote a contract. I call the listing agent to let her know I have an offer, but she tells me that an offer has already been accepted.
The search trudges on. Now we are running out of good homes to look at. My client asks his mother to cosign on the loan so that we can get a larger loan. Now we are back to $115000.
I found a great buy for them but we must act quickly since 2 other offers will be coming in also. It is an estate sale, so it is listed well under appraisal. So we offer a little more than asking price and now my clients are homeowners.
Don't get discouraged, you will get the house that is meant for you, all things happen for a reason. My clients ended up getting a much better buy after everything they went through.

Late Mortgage Payments Surge

Late mortgage payments surge
Regulators see big problems emerging with subprime loans, increasing credit distress with hybrid mortgages.
February 22 2007: 2:43 PM EST
WASHINGTON (Reuters) -- Late payments for residential mortgages shot up by 15.6 percent in the fourth quarter, U.S. regulators said on Thursday in a report showing record earnings by commercial banks and thrifts in 2006.
The Federal Deposit Insurance Corporation, which insures deposits at more than 8,600 banks and savings institutions, said the increase in late mortgage payments followed a 5.2 percent increase in the third quarter.
Noncurrent mortgage loans - payments that are more than 90 days late - grew by $3.1 billion in the last three months of 2006 after rising by $974 million in the third quarter, the FDIC said.
Richard Brown, FDIC's chief economist, said regulators are seeing emerging signs of distress among subprime loans, especially with hybrid mortgages that subject borrowers to higher monthly payments after introductory interest rates.
"While the degree of credit distress in these portfolios is still well below the peaks that we saw during and after the 2001 recession, it seems likely that their performance will get worse before it gets better," Brown said.
Bank regulators are considering new rules on popular loans for subprime borrowers with less-than-stellar credit that carry low introductory rates but can rise over the life of the loans.
Consumer advocates have warned that loose underwriting standards will soon have homeowners buried under mortgage debt.
Brown said that total subprime mortgages outstanding amount to about $1.3 trillion, of which $700 billion are held by private asset-backed securities issuers.
That means banks, thrifts and other mortgage lenders are holding about $500 million in subprime mortgages, Brown said.
Financial institutions insured by the FDIC held about $2.2 trillion of mortgages for single to multifamily homes at the end of 2006.
"We know for certain that more than three quarters of the mortgages held by all FDIC-insured institutions are prime loans," Brown said. "The actual percentage is certainly higher - perhaps as high as 85-90 percent."
For the fourth-quarter FDIC-insured commercial banks and savings institutions posted net income of $35.7 billion, 9.3 percent higher than the fourth quarter of 2005, but lower than $38.1 billion earned in the third quarter.
For the year, banks earned $145.7 billion, topping the 2005 total of $133.9 billion and marking the sixth straight year of record earnings, the FDIC said.
The FDIC said the industry's performance in the last three months of 2006 was stronger than the numbers indicate because restructurings at a few large institutions resulted in understated income and expense items.
"The banking industry continues to perform well," FDIC Chairman Sheila Bair said in a statement, "even as an inverted yield curve and weakening mortgage market have made the operating environment more challenging."
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Here is a Great Article from Housemaster

HOT WATER CONSERVATION TIPS
In modern homes, hot water is as close as the faucets in the kitchen, bathroom and laundry areas, and its availability is often taken for granted. Generally, even less thought is given to the cost of heating water because its use is constant rather than seasonal, as with a central heating or cooling system.
The temperature and amount of hot water used depends on several factors, including the number of people in a household, the number of bathrooms and whether there is a clothes washer or automatic dishwasher. Water heating may account for as much as 15 percent of your total energy bill. If your utility bills ran $2,000 last year, you may have spent $300 to heat water. You can't do without hot water, but there are several ways to conserve it so that energy requirements and costs will be less:
Wash only full loads of laundry or use appropriate water level or load size settings on your clothes washer.
Use as low a water temperature as possible for the wash cycle of your clothes washer. Use cold water for all rinse cycles. Pre-soak heavily soiled clothes before washing.
Scrape dishes before placing them in a dishwasher. If rinsing is necessary, use cold water.
Try to run your dishwasher only once a day or when fully loaded. Use the shortest cycle that will clean the dishes.
When washing dishes by hand, fill a pan with hot water for rinsing. Don't let hot water run continuously.
Install flow restrictor showerheads. These devices can reduce the amount of water flowing from the pipe from 5 gallons (19 liters) per minute to three (11 liters) while still maintaining adequate pressure.
Take quick showers instead of baths; they use up to 50 percent less hot water.
Don't let hot water run continuously when you shave. Close the drain and fill the basin with water instead.
Turn down your water heater thermostat to a minimum or vacation setting if you plan to be away from home for an extended period of time.
Repair any faucet leaks. A leaking hot-water faucet is an energy waster and should be repaired immediately.
Copyright © HMA Franchise Systems, Inc.

Borrowers seldom score by paying points

Borrowers seldom score by paying points
By Holden Lewis • Bankrate.com


Pay discount points on a mortgage, and you take a gamble. Plenty of borrowers lost that wager in recent years, according to a pair of economists.
Yan Chang and Abdullah Yavas set out to describe consumers' behavior, not to give advice about whether one should pay discount points. Even so, their research can be boiled down to this: Think hard before you pay discount points, and if you do, don't hesitate to refinance.
The studyTheir research paper, titled, "Do Borrowers Make Rational Choices on Points and Refinancing?" is a chapter of Chang's doctoral thesis at Penn State University. Chang is a senior economist at mortgage-financing giant Freddie Mac, but the study was done independently of her employer, and she speaks for herself and not on behalf of Freddie Mac. Yavas is an economist and a professor of business administration at Penn State and was her thesis adviser.
Chang and Yavas concluded that borrowers tend to pay too many points because they overestimate how long they'll keep the mortgage. Furthermore, people who pay discount points tend to wait too long to refinance.
Paying discount points is a way of reducing the mortgage's interest rate. One discount point is 1 percent of the loan amount. On a 30-year, fixed-rate mortgage, one point typically reduces the rate by one-quarter of 1 percent. By this rule of thumb, if you can borrow $200,000 at a rate of 6.25 percent with zero points, you can borrow the same amount at a rate of 6 percent by paying one point, or $2,000.
In the above situation, you save $32.33 a month by paying one point. It takes 62 months to break even -- for the accumulated monthly savings to total the $2,000 paid upfront.
8-year studyChang and Yavas looked at a sample of 3,899 mortgages that were originated between January 1996 and December 2003. About one-eighth of those borrowers paid discount points.
Of those who paid points:
•
Two-thirds had paid off the mortgage by June 2005, either because they sold the house, refinanced or defaulted on the loan. Of those people, 1.4 percent had benefited by paying points.
•
The other one-third of the points payers still had the original mortgage in June 2005, the cutoff date for the study. Of those people, 16 percent already had benefited from paying points by June 2005, and the percentage probably grew higher as time passed. That doesn't change the fact that two-thirds of the points payers made the wrong bet.
Of the seven-eighths of the borrowers who did not pay discount points, a large majority made the right call.

Down payment

Down payment
By Bankrate.com



The down payment presents the biggest obstacle to homeownership for most buyers, especially first-time buyers and those in lower income brackets. Fortunately for those people, lenders have become more willing to underwrite mortgages with small down payments.
Most mortgage lenders require a cash down payment of 5 percent, 10 percent or 20 percent of the sale price. Some lenders have zero-down mortgage programs. If you can put down more than your lender requires, say 25 percent to 30 percent, your lender may be willing to overlook past credit blemishes, approve your loan without verifying your income or both. If you come up short on the down payment, less than 20 percent of the buying price, you may have to obtain private mortgage insurance, or PMI, to protect the lender before your loan is approved.
You can often lower your mortgage payment or afford a more expensive house by putting more money down.
Lowdown on down paymentsSay you make $40,000 a year. Your maximum monthly mortgage payment (28 percent of gross income) would be $933. Assuming your total monthly debt is no more than $1,200 (36 percent of gross income), the bigger the down payment, the more expensive the house you can buy.
For instance, say the monthly mortgage payment of $933 has an interest rate of 7.5 percent. In a 30-year fixed-rate mortgage, that monthly payment covers a total principal of $133,435.45. With 10 percent down, that mortgage would cover a house worth $148,262. With 20 percent down, the house price would be $166,794.
Say you want to keep the monthly payment to $1,060. How large of a mortgage can you get? The charts below consider the key factors of interest rates, down payment amount and the length of mortgage term.

Top 7 tips for First Time Home Buyers

Top 7 Tips for First Time Homebuyers
by Eric Bramlett

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Purchasing your first home is a big step, that comes with some very serious decisions. Many homebuyers are intimidated by the process, and continue renting much longer than they should, or need to. However, if you break the homebuying process down into these simple steps, and follow these important tips, you will find the process less intimidating, and much more manageable.
1) Before You Begin, Ask Yourself One Question
Will you live in your next home for at least 3 years? If the answer is "Yes," you should probably purchase, rather than continue renting. With average appreciation, you'll break even on your closing costs after 2 years, and start making money at year three. Every year after that will put more money in your pocket! The most expensive aspect of real estate is buying & selling, so the longer you can live in the home the better. However, purchasing makes sense if you can make as little as a 36 month commitment.
2) You Don't Need a Down Payment!
It always surprises me how many people want to purchase a home, but don't because they believe that a hefty down payment is required. Zero down programs are very common, and are quickly becoming the norm, rather than the exception to the rule. Because your new home is collateral for the loan, there are many banks that will jump at the chance to loan you 100% of its value. Perfect credit isn't a requirement, either. Because real estate typically appreciates in value, it's often easier to be approved for a 100% mortgage than it is to borrow 100% for a car!
3) Get Pre-Qualified
Pre-qualification is a very important step, and the step that first time home buyers dread the most. Qualifying to buy a home is pretty easy and requires relatively little work for you. Pre-qualification is what gives you buying power and allows you to make an offer on your dream home when you've found it. More importantly, pre-qualification will let you know how much your new home will REALLY cost - in monthly payments. A $150,000 or $300,000 home doesn't mean a lot to most buyers - but $1200 per month and $2500 per month are tangibles that everyone can understand. After your lender pre-qualifies you, ask them for a "payment table" that shows you a rough estimate of TOTAL monthly payment based on purchase price. Pick your payment, and you know the price range to shop in.
4) Consult a Real Estate Professional ASAP
Many first time home buyers avoid contacting a Real Estate Agent because they dislike high pressure sales. However, Real Estate Agents have an advantage over traditional salespeople because they have access to the Multiple Listing Service, which is a database that lists roughly 99% of the homes for sale in a given market. This means that your Real Estate Agent doesn't have to sell - he/she merely presents your options. The most important qualities to look for in your Real Estate Agent are his/her knowledge of your specific market and their willingness to help. Interview a few agents and choose one that will help guide you through the process. You'll find the help & insight will be invaluable - and you'll be glad you contacted your Real Estate Agent sooner, rather than later.
5) Make a List of "Must Haves" & "Wants"
Many new home buyers mistakenly think that they will "just know" when they "walk into the one." While some buyers DO fall instantly in love with a home, this is not the norm. You'll find your search is easier, and you will be more confident in your decision, if you take a systematic approach to your search. The best way to organize your search is to make two lists: Your "must haves" and your "wants." Your "must haves" are the absolute necessities in your new home - in fact, you don't even need to view a home if it doesn't have every "must have." Great examples of your "must haves" are price, school district, size, etc... Your "wants" are the qualities that you would like for your new home to have, but it's not a necessity. Great examples of "wants" are color, flooring, kitchen appliances, surround sound, and type of exterior. By taking the time to articulate what you need and want in your new home, you will know exactly what to look for when viewing prospective homes.
6) Pick Your Favorite Neighborhoods
You can always make changes to your house, but you can never change its location. Most home buyers already have a good idea of where they would like to live because of school districts, work, or other factors. However, neighborhoods can be pretty different, even in the same area of the city. Ask your Real Estate Agent to email you a list of homes in the specific area of town you're interested in. Take a drive through the different neighborhoods on the list your Real Estate Agent sends you, and choose your favorites. Pay attention to area amenities, how well the yards & common areas are kept, and if you see a lot of "for lease" signs - which can be an indication of a heavy rental area, and lacking in "pride of ownership." After you have picked your favorite neighborhoods, and you know your "must haves" and "wants," you can literally make a list of EVERY home available that meets your criteria, and view those homes.
7) Make Your Decision!!!
Homebuyers often hesitate after they've found the right home because they're not confident about their decision, or their decision-making process. Your home is probably the largest investment of your life, and it's normal to feel butterflies in your stomach before putting your first home under contract. However, if you do your due diligence - and you have if you followed the steps above - then you will have your bases covered. If you've found a home that meets all of your "must haves," most of your "wants," is in the right neighborhood, and in your budget - it's the home for you! Don't wait and let another buyer take YOUR home!
Buying your first home can seem very intimidating, but can be extremely exciting. If you think that buying a home is right for you, it probably is. Make sure and follow these important tips and you'll know you made the right decision when you find your first home.