Repairs Every New Homebuyer Should Make

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Moving can be time consuming… well “life” consuming.  The last thing you need to be worried about is remembering what to check/repair in your new home.  Here’s a great list of reminders to help you down the road:

content_MovingMove-In Week

  • Make it a point to turn on all of your major appliances and let them run for a complete cycle, especially if your home is newly built to look for leaks.
  • Be sure to read your warranty — don’t wait until an emergency to start familiarizing yourself with your legal rights and responsibilities.

45 Days Later

  • Change the filter on your HVAC system, and vacuum out the air intake vents. Capturing dirt and dust with the right filter can go a long way toward reducing dust.

Six Months Later

  • During summer months, keep an eye out for invasive animals like squirrels, birds and wasps. These pests look for loose soffits and buckled siding as a way to get into your home.
  • Twice a year in the summer and fall, inspect the exterior of your house to make sure rainwater is draining properly.
  • Landscaping should be negatively graded away from the house.
  • Each winter, check to make sure that your pipes are properly insulated against freezing.

Every Year

  • Inspect your roof or have a professional roofer conduct an inspection. Look for missing shingles, gaps in the flashing around chimneys and other hazards. Indoors, check your ceiling for water spots.

Every Two Years

  • Have a professional HVAC contractor inspect your furnace, air conditioner and hot water heater.
  • Inspect exterior paint and touch up as needed.

Posted on October 16, 2013 at 4:18 pm
Dempsey and Phelps | Category: Bend Homes, Buying a Home, Home Sales, Real Estate, Second Homes, Vacation Homes | Tagged , , , , , , , , , , , , , , , ,

Buyer’s Market Spurs Confidence

RISMEDIA, April 4, 2011—As the cold temperatures become a distant memory, and the spring selling season gains momentum, consumers have come to agree on one thing—now’s a good time to get off the fence and into the real estate market. This is the overall theme in the latest American Express Spending and Saving Tracker survey, a monthly survey that tracks the spending and saving habits of consumers in order to get an indication of what’s happening in the market. “This month’s Spending and Saving Tracker provided an up-to-date look at various consumer trends and gave us the opportunity to assess how consumers are feeling about the current market in addition to gauging homeowner confidence,” says Leah Gerstner, vice president of public affairs at American Express.

“This month’s survey points to the fact that consumers overwhelmingly feel that we are in the midst of a buyer’s market,” she adds. The data also points to the fact that a seller’s market is at least a year away, which is certainly positive news. While homeowners aren’t necessarily willing to settle for less than the asking price when selling their home, two of the biggest areas of interest in the latest survey deal with homeowners including home improvement projects on their to-do list, as well as the willingness to include concessions to get their home sold.

Home Improvements
“In looking at the results of our latest Spending and Saving Tracker survey, our thinking was that if consumers overwhelmingly view today’s market as a buyer’s market—which they do—they are likely to have plans to put more money into their home,” adds Gerstner. In fact, the survey found that about 64 percent of homeowners currently have home improvement projects on their to-do list for 2011. While the plans are in place, the amount that homeowners are budgeting to spend has gone down quite a bit from last year. “Homeowners are looking for better ways to stretch their dollars, and many are looking toward energy-efficient home improvements that will pay off in the long run.” The survey shows that among homeowners who are looking to go green, the most common items homeowners would spend their money on include energy-efficient windows and doors, insulation, roofing, heating and cooling systems as well as alternative energy systems.

Concessions
Another finding that stood out in the latest survey had to do with whether or not sellers were willing to make concessions to get their homes sold, especially in today’s market. While 44 percent of sellers were willing to give away appliances during a sale—the biggest concession among young professionals and affluent homeowners—another 28 percent said they would take care of requested repairs in order to get their home sold. “While a large majority of sellers are willing to make concessions to get their home off the market, the willingness to make concessions is down among young professionals when compared with the 2010 survey,” says Gerstner. “This is an important finding as it shows that young professionals are more confident in their ability to sell their homes today.”

“Homeowner confidence in today’s market has increased compared to last year,” says Gerstner. “In fact, the survey shows that the confidence level is pretty evenly split—42 percent of homeowners are confident they will get their asking price in today’s market, while 47 percent of homeowners aren’t that confident.” Even though home values continue to be on the low side, young professionals and affluent homeowners are seemingly more confident in today’s market.

Read more at rismedia.com

Posted on April 5, 2011 at 8:20 am
Dempsey and Phelps | Category: Real Estate | Tagged ,

Fewer Homes Underwater for Third Straight Quarter

The Wall Street Journal reports an increase in foreclosures, but a decrease in homeowners that owe more than their homes are worth.

Posted on December 17, 2010 at 8:04 am
Dempsey and Phelps | Category: Real Estate | Tagged , , ,

Reminder: Claim Your 2010 Energy Efficient Home Tax Credits

The federal “Non-Business Energy Property Tax Credit” gives homeowners the opportunity to earn a tax credit equal to 30% of what they spend on qualifying home energy efficiency product purchases, such as insulation, weatherization products and high-efficiency heating and air conditioning units. Homeowners can claim the credit, which is capped at $1,500, when they file their 2010 federal income tax return.

“In addition to making a home more comfortable, energy efficiency upgrades give homeowners a triple return on their investment,” said Mike Lawrence, vice president and general manager of Insulation Systems for Johns Manville, a manufacturer of building products. “One, a return on their 2010 income taxes; two, monthly savings in the form of lower heating and cooling bills; and three, a return when it comes time to sell their home, since data show that energy efficient homes have a higher resale value.”

What is the Home Energy Efficiency Tax Credit?

Established as part of the American Reinvestment and Recovery Act, homeowners who purchase eligible energy efficiency products or a renewable energy system for their primary residence will receive a federal tax credit for 30% of the cost, up to $1,500. The credit applies to all qualifying material costs (including insulation), and in some cases also counts toward installation costs. The maximum credit of $1,500 is for a two-year period, which means that if you claimed a portion of the credit on your 2009 taxes, you are eligible only for the remaining balance in 2010.

With time running out to cash in on the popular home energy efficiency tax credit—which expires Dec. 31, 2010—homeowners need to act now to save up to $1,500 on their 2010 tax return.

Read more at www.igotrealestate.com

Posted on December 10, 2010 at 8:06 am
Dempsey and Phelps | Category: Real Estate | Tagged , , , , ,