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4Jan/100

2010 Real Estate Resolutions

Everyone has their New Year's resolutions. Whether it is getting in shape, finding a new job, losing weight or finding a work life balance, everyone seems to have one or the other. But what about a New Year's resolution for your home? Did you ever think about that? How long has it been since you did any upgrades to your home; maybe a new roof, new landscaping, or new kitchen or bath? Or how about switching out your appliances to more energy efficient ones?

Many people say that in 2010, they will be first time homebuyers. Being a first time home buyer in 2010 is both smart and timely. Mortgages rates are at record lows and prices have dropped. Also, there is the $8,000 first time home buyer tax credit that has been extended until April 30, 2010. It has also been expanded to include a $6,500 tax credit to all move-up buyers.

According to Realty times, more than 15% of those who responded to the survey said that saving money to purchase a new home is their top real estate resolution for the New Year. Nearly 40% of people say that home improvements are on the top of their list. According to Calabasas, CA-based Informa Research Services, home equity lines of credit for $50,000 with an 80% loan to value note, were available in early December at an average variable rate of 4.98%. Some rates were as low as 2.74%

The Move.com survey also found that 9.1% people wanted to fix their credit so they can buy a home next year.  Many people are seeking credit repair companies to assist them with raising their credit. All one has to do is contact a credit repair company, seek counseling and listen to the advice the counselors give. They will explain to you what needs to be paid off and by what date.
There are still a decent percentage of people who are wisely considering buying an investment property at some point this year. People are finally beginning to understand that Real Estate is still an investment; it is just more long term than short term.

These Real Estate Resolutions will hopefully improve the real estate market as it seems that many people are looking to purchase or invest in real estate at some point in the year 2010. It doesn’t appear that for a majority of the population this is something that is on the backburner. This year will bring about great changes in the real estate market and hopefully for many more years to come.

6Nov/09Off

Home Buying Tips

When purchasing a home, there are many things that you should “keep an eye out for” so to speak. This article will be helpful information in avoiding someone from purchasing a home that may be very expensive to repair down the road. There are some products in a home that could be very costly to replace and people should know about these items and have them inspected before they purchase.

The first thing to look out for when purchasing a home, is the siding on the home. There is siding out there that is not good quality and can be very expensive to replace if need be. Watch out for L.P (Louisiana Pacific) and OSB (Oriented Strand Board) products. They have received a lot of bad press in terms of their life span and reliability.  

The other thing to look out for would be the plumbing in the home. Certain systems are more prone to having certain problems than others. Galvanized water pipe is the most prone to rusting on the horizontal surfaces (floors) and it corrodes from the inside out. Some rigid plastic systems have been recalled, while others fared very well. Take the time to check the plumbing and see what plumbing system your potential home has.

The type of wiring in residential homes is important to check as well. Generally this depends on when the home was built, where it was built and if it has been updated. Look for the newer Romex-wrapped wiring, which is copper. This type of wiring has replaced outdated wiring and is a safer bet as well. It is always a good idea to speak to an electrician and/or inspector about the wiring in the home. A little homework today can save you a ton of money down the road.

Make sure that the home has Energy Efficient Windows. There are many types of windows including, single pane, double pane, thermo pane, triple pane, plain glass, leaded glass, low e glass, wired glass and tempered glass. Tempered glass windows are good against shattering. Fogged thermal pane windows may need to be replaced if their seals are broken, which again can be costly. The new argon gas filled windows are good for insulation and low energy bills.

There are many more factors to consider when purchasing a home, but these are just some of the more costly items that if in need of repair, can cost you. Purchasing homeowners insurance and understanding what that covers will help you avoid spending money out of pocket. Again, make sure to consult with a professional when purchasing a home because it can save a lot of money in the long run.